These general terms and conditions of use of the website "BELO", including its annexes and updates, (hereinafter, the "General Terms") constitute the agreement between a legal entity (hereinafter, "User" and in plural "Users") that registers in the website https://www.belo.app/business/ (the "Website") and Gralcey S.A., a company incorporated under the laws of the Eastern Republic of Uruguay, domiciled at Andes 1365, Escritorio 308, in the City of Montevideo, Uruguay, RUT 218765580018 (hereinafter, "Gralcey" or the "Developer").

These General Terms describe the rights, responsibilities and obligations that shall apply to the relationship between the User and the Developer (jointly, the "Parties" and individually the "Party") in relation to the use of the Website and any related product, functionality or service offered therein (any of them, indistinctly, the "Service" and, jointly, the "Services", as applicable).

Acceptance. The User must carefully read and understand all the conditions set forth in these General Terms -and other policies, annexes and principles incorporated by reference- prior to the use of the Website and the Services provided, since their acceptance implies a binding contractual agreement between the Parties.

IN ANY CASE, THE USE OF THE WEBSITE AND THE USE OF THE SERVICES IMPLIES SUFFICIENT PROOF OF ACCEPTANCE BY THE USER OF THESE GENERAL TERMS, THE PRIVACY POLICY AND THE OTHER DOCUMENTS THAT REGULATE THE PRODUCTS AND SERVICES OFFERED TO THE USERS.

Any company that does not wish to accept these General Terms should refrain from using the Website.

Modifications. The Developer may unilaterally modify these General Terms at any time as it deems necessary, so the User is requested to visit this section on a regular basis.

The modifications to these General Terms shall be valid from the moment of their publication and shall be considered accepted by the User if he/she continues to use the Website, without requiring any express consent.

Electronic communication. By accepting these General Terms, the User expressly consents that communications and notifications related to the use of the Website and the services provided be made in electronic format. In any case, the User may make copies, even in physical support, of the documentation and information provided by the Developer related to these General Terms.

Definitions. For the purpose of a better understanding, certain terms and expressions are defined below and shall have the meaning assigned to them in capital letters.

"Belo Account": unique, personal and non-transferable registration associated with the User that will allow him/her to use the Services within the Website.

"Crypto Assets" or "Crypto Currencies": type of digital asset that uses cryptography to provide security in its transactions, in the management of its issuance and to ensure its ownership. A fundamental characteristic is that they are not issued or controlled by central authorities of any kind, such as a central bank. Therefore, they may be subject to particular rules different from those known in the traditional market and the User should fully understand the associated risks before acquiring Crypto Assets.

"Crypto Services": means the Services specifically involving Crypto Assets, as detailed in these General Terms.

"External Providers": the Developer may provide the Services through external providers independent from the Developer (e.g. financial institutions, payment service providers, etc.) through corresponding commercial agreements.

"Request": instruction generated by the User by using the "send", "exchange" or "receive" buttons of a certain Crypto Asset or fiat money funds.

"Services": Comprises the totality of the Services, functionalities and products offered through the Website.

"User": any legal entity that has the legal capacity to contract. Users may not be Users who lack legal capacity to contract, those who have been suspended or disqualified.

ARGENTINE USERS

The offer of virtual assets for Argentine Users is provided by Belo Argentina S.A., domiciled in Tucumán 1, 3rd floor, (C1049AAA), Autonomous City of Buenos Aires, Argentina, registered under No. 52 dated July 19, 2024 in the Registry of Virtual Assets Service Providers of the National Securities Commission (CNV). This registration is for the purposes of control as Obliged Entity before the Financial Information Unit (UIF) and any other regulatory entity empowered for such purpose, within the framework of its competences, and does not imply license or supervision by the NATIONAL SECURITIES AND EXCHANGE COMMISSION over the activity carried out by the PSAV.

Whenever in these terms and conditions the Developer is mentioned for crypto services, it shall be understood that such provisions apply respectively to Belo Argentina S.A. in relation to Argentine Users.

Registration and Identity Verification. In order to use the Website, it is mandatory to complete the registration and identity verification process. To do so, the User must identify a legal representative and provide all the data and information requested, which must be valid, accurate and truthful.

Users must satisfactorily comply with the identification and due diligence process set forth in the Website ("KYC" or "Know Your Customer"), as well as with the requirements set forth in the rules for the Prevention of Money Laundering and Financing of Terrorism ("PLA/FT") that may apply.

All the information and personal data provided by the User is a sworn statement and the User guarantees its truthfulness, accuracy, completeness, validity and authenticity.

The Developer reserves the right to request proof and/or additional information from the User or third parties in order to corroborate the information provided by the User, as well as to reject a registration request or to temporarily or definitively suspend those Users whose data could not be validated or in case of detecting suspicious activities, without such decision generating for the User any right to indemnification or compensation whatsoever.

Prohibited Activities. The User declares that its activity is not related to: (i) the manufacture and commercialization of firearms, ammunition, explosives and other related materials; (ii) commercialization of narcotics; (iii) promotion or commercialization of content related to pedophilia or pornography; (iv) shell banks; (v) money laundering, arms trafficking, human trafficking, animal trafficking, etc. (vi) any activity or goods whose promotion or commercialization is contrary to legal and administrative provisions, morality and good customs; (vii) contents that in any way involve minors under 18 years of age, or are films or photographs that have been taken illegally from minors under 18 years of age or without the consent of the persons appearing in them; (viii) promotion of violence and/or discrimination of any kind; (ix) promotion or commercialization of contents, goods or services that violate any legislation in force, especially those referring to the protection of intellectual property rights, software piracy.

Data Privacy. The data provided by the User is safeguarded in an ethical and responsible manner in accordance with our Privacy Policy.

Belo Account. The successful registration will generate in favor of the User a single account, personal and non-transferable, in order to access the Services and functionalities offered by the Web (the "Belo Account").

The User accesses his/her Belo Account by entering his/her e-mail address or user name and personal security password ("Login Password") chosen at the time of registering on the Website. The User undertakes to safeguard and maintain the confidentiality of his/her Login Password at all times, since the User will be solely and exclusively responsible for all transactions carried out in his/her Belo Account.

Likewise, the Web will be able to establish a double authentication factor in order to verify the User's identity when using the Services.

Misuse. The Belo Account is for the exclusive use of the User and the User may not transfer, assign or sell the Belo Account to any third party. It is a crime to do so. Likewise, any use of the Belo Account contrary to the provisions of these General Terms, particular terms and annexes, shall entitle the Developer to suspend, pause or delete the Belo Account, without giving the User the right to any claim whatsoever.

Users whose Belo Account has been deleted will not be able to re-register on the Website.

Limitation of Liability. The Developer shall not be liable for any data network damage, data network failure, hardware or software failure, communication or other system failures, power failure, strike, labor dispute, riot, uprising, productivity or lack of means of production, fire, flood, storm, explosion, war (declared or undeclared), governmental action, court order or omissions of a third party.

The User, irrevocably, from the moment of acceptance of these General Terms, releases the Developer from any type of civil, criminal, commercial, administrative or any other type of liability, present or future, known or unknown, initiated against it and its respective shareholders, directors, officers, employees, agents, related companies and External Providers, for any of the risks described in these General Terms and, consequently, irrevocably waives any action that may be taken to claim any type of liability derived from the use of the Crypto Services.

Term and Termination. The contractual relationship between the Parties arising from the acceptance of these General Terms is for an indefinite term. Notwithstanding the foregoing, either of the Parties may terminate the relationship immediately by notifying the other in a reliable manner. To do so, the User shall send an email to the email address [email protected] and the Developer shall do the same to the email address provided by the User during the registration process. For the purposes of exercising this power, it is necessary that the party seeking termination does not owe to the other party, nor to third parties involved in the operations, the fulfillment of any obligation. The revocation or closure of the Belo Account by will of the User will be free of charge for the User.

Causes for Early Termination: In the event that the User breaches, violates or evades a law or any of the provisions included in these General Terms or particular annexes, the Developer may permanently delete the Belo Account, without prejudice to other sanctions that may apply and/or that may be established in the particular rules of use of the Services on the Website.

Closure of the Belo Account. Notwithstanding the foregoing and in addition to the grounds for termination due to User's default, the Developer reserves the right to close the Belo Account of a User in the following cases: (a) in the absence of movements in the Belo Account during the term of 360 (three hundred and sixty) calendar days; (b) when transactions with an unacceptable credit risk or with a risk of fraud are registered; (c) when it is detected that false, incomplete, inaccurate or misleading information has been provided, or inconsistencies are detected in the information provided at the time of registration; (d) when fraudulent or illegal conduct outside the usual pattern of conduct of the User is suspected; (e) operations outside your transactional profile and without justifying the origin and legality of your funds; and/or (f) registration of any improper use of the Website.

Termination for any reason will imply the closure of the Belo Account and a new user with the same credentials cannot be generated on the Website. However, the closure of the Account will not suspend the fulfillment of all the Requests already authorized by the User at the time of notifying the termination. The status of the Belo Account will change to "Closed". The information of the history of the transactions carried out in the Account will be stored for the entire duration of the Website

Taxes, costs and expenses. The use of some of the Services by the User may require the payment of taxes provided by the applicable legislation. All present or future taxes and fees that may be applicable shall be borne by the User. The Developer shall not be liable for the non-compliance with the tax obligations of the Users.

Intellectual Property: The Developer and/or its related companies own all intellectual property rights over the Website, its content, services, products, trademarks, commercial names, logos, designs, images, advertising phrases, copyrights, domains, computer programs, codes, developments, software, databases, information, technology, patents and utility models, industrial designs and models, commercial secrets, among others ("Intellectual Property") and are protected by national and international laws.

The use by the User of the Services or products offered in the Web does not imply an authorization to use the Intellectual Property.

Indemnity: The User shall hold harmless the Developer and its related companies, as well as those who direct, succeed, manage, represent and/or work in them, for any administrative or judicial claim initiated by the User, third parties or by any organization, related to its activities in the Website or by the use of it.

By virtue of this indemnity, compensation, retentions or other measures necessary for the reparation of losses, damages, whatever their nature, may be generated in the User's Belo Account when the Developer so determines.

Restricted Jurisdictions. Legal entities that are registered in a jurisdiction where (i) Developer is not authorized to provide the Services, (ii) where the use of the Services is illegal or violates any applicable law of such jurisdiction ("Restricted Jurisdiction") may not register as Users.

The User declares by accepting these General Terms that he/she is not registered in any Restricted Jurisdiction and that he/she will not register a Belo Account. The Developer reserves the right to cancel any Belo Account that has been registered in violation of the provisions herein.

Addresses and Notifications. The Developer sets a special domicile at Andes 1365, Escritorio 308 in the City of Montevideo, Uruguay. The electronic address established by the User for the purposes of using the Services is the e-mail address registered in the Website.

The Parties agree that all electronic notifications sent through the Website and/or to the e-mail address provided by the User shall be valid and binding, including, but not limited to, notices, reminders or communications related to the Services.

Applicable Law and Jurisdiction. These General Terms shall be interpreted and governed by the laws of the Republic of Uruguay. In case of any difference, disagreement or conflict, interpretation, validity, and/or scope of these General Terms and/or particular terms and annexes, the User agrees to initiate his/her claim exclusively through the means provided in the communication channels arranged by the Developer that expedite the communication between the Parties and are an effective means of conflict resolution.

CRYPTO SERVICES

Scope. Subject to compliance with the provisions of these General Terms, the User may, upon instructions given to the Developer, use the "Crypto Services": (a) make purchases and sales of Crypto Currencies; (b) maintain balances in Crypto Currencies; (c) make outgoing transfers of Crypto Currencies; (d) receive Crypto Currencies to its Belo Account; and (e) obtain returns.

Knowledge and Acceptance of Risks. The Users by the sole fact of accepting the present General Terms acknowledge and accept that transactions with Crypto Assets are subject to a series of particular risks, among which are included, without limitation the:

(a) risks specific to the jurisdiction in which the User resides, as well as those of the jurisdiction in which the transaction of purchase or sale or transfer of Crypto Assets takes place,

(b) computer, technical or technological risks derived from the functionality, characteristic, use and other technical properties of the Crypto Assets, as well as from the underlying technology thereof and any other risk that has an impact on the transaction;

(c) risks due to implementation or changes in regulatory and/or legal matters affecting those who hold Crypto Assets or risks inherent to the lack of regulatory support or supervision by governmental agencies;

(d) risks inherent to technology and the use of digital platforms, since despite the development and high investment in IT security made by the Developer, there are risks such as phishing, identity theft or cybernetic attacks (hacking) that could generate losses, changes or theft of the Crypto Assets;

(e) economic, financial and volatility risks in the value of the Crypto Asset, since they are not considered legal tender and their value is not backed by any government or financial institution;

(f) technological, cybernetic and fraud risks inherent to the purchase, sale and exchange of Crypto Assets;

The User accepts, acknowledges and assumes that -in addition to those mentioned above- there may be additional risks that have not been expressly foreseen in these General Terms and releases the Developer, its shareholders, directors, employees, representatives and/or attorneys-in-fact from any kind of liability for damages or losses suffered as a direct consequence of the transactions made using the Crypto Services.

User's Statement. As a condition for the use of the Crypto Services, the User represents, declares and warrants the following:

(a) That he/she is fully and completely aware of the nature, legal framework (or lack thereof) and volatility of the value of the Crypto Currencies and that he/she fully assumes the risk of performing transactions on such assets;

(b) That he/she knows and accepts that neither the Developer nor the Website provide advice and/or recommendations of a financial nature or regarding the opportunity or convenience of transacting through the Website with Crypto Assets; there are no risks such as phishing, identity theft or cybernetic attacks (hacking) that could generate losses, changes or theft of the Crypto Assets;

(c) That the User is not prevented or restricted from carrying out any of the transactions for which he/she submits Crypto Service Requests and that such transactions do not imply an infringement to the tax, regulatory, legal regime or to any restriction or regulation applicable to the User, in the applicable jurisdiction;

(d) That the Website may require further information and/or documentation from the User, in which case the User undertakes to provide it immediately, empowering to share such information and/or documentation with the External Providers in order to make effective the Requests that are instructed through the Website;

(e) That the digital assets or funds used in the Web were obtained in a lawful manner and are destined to lawful acts;

(f) That the operations carried out through the Website may have a purely electronic instrumentation -without any written evidence-, therefore, the User shall take this aspect into consideration when hiring third parties to carry out or formalize operations within the Website. Therefore, all the certificates -including the Transaction Certificates- will be available for downloading in the User's portfolio on the Web. They should not be considered as valid and enforceable, but should be considered simply for the registration of each User and;

(g) That the User acknowledges that neither the Developer, nor the Third Party Providers, nor third parties authorized to provide additional services to those listed on the Website, shall be liable for the time elapsed between the sending of the instruction to acquire or sell Cryptoassets and the effective transfer of such Crypto Assets in the User's Belo Account.

(h) That the Users fully and exclusively assume the risk of trading Cryptocurrencies and release the Developer from any liability or loss derived from or related to such transactions. Consequently, the User agrees and declares that: (a) he/she shall refrain from claiming for any fluctuation in the price of the Crypto Currencies; and (b) releases the Developer from any kind of liability for any damages, losses or decreases in value, direct or indirect, current or future, related to the Crypto Currencies or the Crypto Services, whatever their cause may be.

Balance Upload. In order to use the Crypto Service, the User must (i) transfer to its Belo Account any of the Crypto Currencies listed on the Website and/or (ii) funds in legal tender in the jurisdictions where such service is enabled.

There may be a minimum or maximum balance load on the Website; in such case, Users will be duly informed.

Transactions with Cryptocurrencies. By using the "send", "receive" and "exchange" buttons of the Website, it is understood that the User generates a Request, which constitutes an irrevocable mandate and instruction for the purposes of the Developer to buy or sell Crypto Currency on behalf and order of the User. Each Request shall indicate, among other data, the amount and type of Crypto Currency to be bought or sold (according to the options provided by the Website), the amount and the price to be paid or received by the User for such transaction (according to the quotations displayed by the Website).

All Crypto Currency market rates displayed on the Website shall be valid during the period of time the User has to accept the purchase or sale transaction. Such quotations have a duration of 60 seconds. After this time, the market rates of transactions that were not carried out or accepted may be modified.

The Crypto Currencies purchased under the Crypto Services will be displayed in the User's Belo Account. In case the User would like to sell the Crypto Currencies through the Website, he/she must send a Request in such sense and once the sale has been made on his/her account and order, the proceeds will be integrated to the Belo Account after the corresponding deductions.

Such transfers are subject to: (a) the availability and existence of a balance of Crypto Currencies in favor of the User in its Belo Account; and (b) the issuance of the corresponding Request, which must contain the amounts of Crypto Currency to be transferred and the data required therein.

The User will be able to consult through the Website its balances of Crypto Currencies and movements as well as their respective receipts.

The deposit addresses provided to receive cryptocurrency balances do not constitute an own account and the User should not take it as an own account or use it in other operations outside the Web.

The Developer shall not be liable for delays or inconveniences in the crediting of cryptocurrencies, since they may be caused by external events or as a consequence of the actions of External Providers outside the Developer. Notwithstanding the foregoing, the Developer shall use commercially reasonable efforts to ensure that the Requests are executed as soon as possible.

The User understands and agrees that the Developer shall not be liable in the event that the Request operation cannot be processed or performed due to matters beyond the Developer's control.

The User shall be solely responsible for the data provided in the Request and the Developer shall not be liable for any damages that this may cause, for example if the User provided an incorrect wallet address for the withdrawal of funds and this resulted in the loss of the cryptocurrencies.

The Developer shall not be liable for the loss or theft of the Crypto Currencies and shall not pay compensation for the loss thereof.

The Developer reserves the right not to accept or reject Request that come from illicit, fraudulent accounts or whose origin is associated with money laundering or terrorist financing. The Developer may proceed to close the Belo Account in case of detecting suspicious transactions, even if the User alleges that such transactions have not been made by the User, and agrees that the Developer shall not be liable in case the Request transaction cannot be processed or carried out due to matters beyond the Developer's control.

Charges and/or commissions. The User acknowledges and accepts that the purchase and sale or exchange of Crypto Currencies on the Website may involve costs and commissions arising from the services provided by third parties involved in the transfers. Such costs or commissions can be consulted in the following pages: https://bitcoinfees.earn.com/ and https://ethgasstation.info/.

The deposit commissions are covered by the User who sends the Crypto Currencies.

Crypto Currency transfers between Belo Accounts are free of charge.

Custody of Crypto Currencies. The Developer performs on behalf of the User a custody and conservation service -which may be provided by an External Provider- of the Cryptocurrencies available in the User's Belo Account.

The User understands and accepts that upon a judicial or administrative requirement the Developer may immobilize and/or transfer to third parties the Crypto Currencies of the User's Belo Account that are subject to the custody services. If this happens, the Developer shall not accept any new Request from the User and shall dispose of the Crypto Currencies in the manner determined in the corresponding judicial or administrative order.

Performance. The Users will obtain returns from the Crypto Currencies that are generated through decentralized finance platforms, protocols and centralized platforms. This generates variable profits for the User that will be reflected in the Belo Account.

Supported Networks. The User should always consult the networks available on the Website before performing any operation as these may vary from one moment to another without prior notice.

The User must make the Requests taking into account the compatible networks and the Crypto Currencies/tokens listed on the Website in order for the funds being sent/received to be received/sent and arrive at their destination correctly. Failure to do so may result in the funds being lost and not being recoverable. In case of using an unsupported network, the User runs the risk of losing his/her Crypto Currencies and may also be charged fees for such failed operation, which are charged by the Network and not by the Web.

The Developer does not own or control any of the underlying software through which blockchain networks are formed and Crypto Currencies are created and traded. In general, the underlying software for blockchain networks tends to be open source, so that anyone can use, copy, modify and distribute it. By using the Website, the User understands and acknowledges that the Developer is not responsible for the operation of the underlying software and networks that support cryptocurrencies and that the Developer does not guarantee the functionality, security or availability of such software and networks.

Recurring Purchases. The Web offers the service of automating the purchase of Crypto Currencies through the "recurring purchases" option. Once the Users enable this functionality, they must select the fiat currency (only for Argentine Users) or Crypto Currency they want to use and the cryptocurrency they want to purchase. Then the frequency of the recurring purchase must be configured between "daily", "weekly" and "monthly". According to the chosen frequency, the recurring purchase will be made at the same time the first purchase was made. In other words, if the User enabled the service at 9:15 a.m. and the User chose a daily periodicity, the purchase will be made every day at 9:15 a.m.

The User must have a balance in his/her Belo Account for the recurring purchase to take place. In case of insufficient balance, the recurring purchase will not be made and the functionality will be paused until funds are credited to the Belo Account.

The User may pause, edit or suspend recurring purchase requests at any time from the Web.

Deposits in Argentine Pesos. The User may make deposits in Argentine pesos to the Belo Account using his/her CUIT, from an account of the same ownership or between Belo Accounts.

In order to carry out some of the transactions, Belo uses the management services provided by Belo Cash S.A. (“Belo Cash”) for Argentine Users. It is clarified that Belo Cash will operate as a manager and agent of the Developer by virtue of the instructions given by the Users through the Website for the use of the Services made available therein.

For the collection and payment management, Belo Cash may make use of External Suppliers, such as Paxsys S.A., CUIT 30-71724307-9 (“Paxsys”), a company registered and existing under the laws of the Republic of Argentina with legal domicile at Luis García 695 Piso 9, Tigre (CP: B1648ARB), Buenos Aires, Argentina, duly registered under No. 33756 in the Suppliers' Registry. 33756 in the Register of Payment Service Providers offering Payment Accounts (hereinafter “PSPCP”) by Resolution of the Central Bank of the Argentine Republic (hereinafter “BCRA”), registered under number 33756, which complies with all regulatory and normative standards established in the Argentine Republic. Paxsys is limited to offer payment services and is not authorized to operate as a financial institution by the BCRA. The funds in legal tender deposited in the Belo Account do not constitute deposits in a financial institution, nor do they have any of the guarantees that such deposits may enjoy in accordance with the applicable legislation and regulations regarding deposits of financial institutions.