1. DEFINITIONS

1. for the purposes of these General Terms and Conditions, the following definitions shall apply in addition to the terms defined in the text:

a. “Visitor”/”Visitor to the Platform”: any unregistered visitor to the Platform.

b. “User”/”User of the Platform”: Visitor of the Platform who has successfully registered on the Platform.

c. “Issuer”: company that issues financial instruments and thus raises capital from users via the Platform

d. “Financial instruments”: are financial instruments within the meaning of Section 2 (5) WpIG. These include token-based securities (e.g. profit participation rights and bonds).

2. the contractual relationship between Users of the Platform and Effecta is supplemented by Effecta’s General Terms and Conditions of Brokerage.

2. SCOPE OF APPLICATION

1. upon successful registration, a contractual relationship between Kazpar and the users of the Platform is established in accordance with these GTC on the use of the Platform (“Platform Usage Agreement”).

2. upon successful completion of the identification procedure in accordance with the German Money Laundering Act, the User and Effecta conclude a contract for the brokerage of financial instruments (“Brokerage Contract”).

(3) Within the scope of this Brokerage Agreement, Effecta shall exclusively provide investment brokerage services for the User within the meaning of Section 2 para. 2 no. 3 WpIG.

4. the services under the brokerage agreement are provided by Kazpar for Effecta, in its name, for its account and under its liability. In this respect, Kazpar acts as a contractually bound agent of Effecta within the meaning of Section 3 (2) WpIG.

5 Kazpar and Effecta have concluded a corresponding contract for this purpose, according to which Kazpar acts as Effecta’s vicarious agent in the brokerage of financial instruments. Accordingly, Effecta is generally liable to the Users for any damages arising from a breach of duty by Kazpar from the brokerage of financial instruments.

6. as a contractually bound broker, Kazpar is obliged to grant Effecta access to the business documents at any time, insofar as this is required by supervisory law. In addition, Kazpar, as a contractually bound intermediary, has granted Effecta a comprehensive right to issue instructions in order to ensure management and control options in accordance with Section 40 WpIG and Section 80 WpHG. As a contractually bound intermediary, Kazpar is also obliged to tolerate audits and inspections of the business premises by the German Federal Financial Supervisory Authority (BaFin) and to cooperate in these audits. The same applies to Effecta’s internal auditing and compliance.

7 The legal relationship between Kazpar and the users of the Platform is governed exclusively by the following provisions of these GTC. The legal relationship between Kazpar and visitors to the Platform is also governed exclusively by the following provisions of these GTC.

3. REGISTRATION

1. for further use of the platform, visitors to the platform must register as users by truthfully providing the personal data requested. Natural persons are only permitted to register if they are at least 18 years of age and have unlimited legal capacity. Legal entities may only be registered by their authorized representatives. Registration is mandatory with a clear name and full address details. Multiple registrations are not permitted. There is no legal entitlement to registration. Kazpar may, at its own discretion, refuse registration without giving reasons and terminate the platform usage contract in accordance with section 8 of the GTC.

(2) As part of the registration process, Kazpar may grant users of the Platform the option of additionally choosing a user name with which they can visibly communicate with other users of the Platform. Users are then free to choose such a user name. The platform is not obliged to provide such an option. Usernames that have already been assigned cannot be reassigned. Only the user and not Kazpar as the operator of the platform is responsible for the statements made under a user name.

3. after registration on the platform, Kazpar will send a confirmation email to the email address provided by the user. Only by confirming the activation link in the email is the registration completed and the platform usage contract concluded.

4. registration using incorrect data is not permitted and may lead to exclusion from the platform. Kazpar reserves the right to delete registrations created with one-time email addresses (so-called “disposable email addresses”) and registrations that have not been activated within four months of creation without prior notice.

5. Platform users are obliged to keep the information provided during registration up to date for the duration of their registration.

6. platform users shall choose a password for the registered account when registering. Platform users are obliged to ensure that this password is not made accessible to third parties. Each user of the platform is responsible for all actions taken via their account. Platform users are obliged to inform Kazpar immediately of any knowledge of their password by third parties and any misuse of their account.

4. BROKERAGE OF FINANCIAL INSTRUMENTS

1. users of the platform have the opportunity to submit a subscription offer for the financial instruments posted by issuers on the platform. As Effecta’s contractually bound broker, Kazpar will forward this offer to the Issuers as a messenger. The contract is concluded when the user receives the respective acceptance from the issuer. Here too, Kazpar acts as a contractually bound agent of Effecta as a messenger of the Issuers.

2 Kazpar points out that Effecta only carries out the appropriateness check (§ 63 WpHG), insofar as this is legally mandatory for the respective User. In this context, the User’s knowledge and experience in relation to transactions with certain types of financial instruments and financial services are queried in order to check whether the User can adequately assess the risks in connection with the financial instruments. If Effecta does not receive sufficient information from the User for such a check, the check cannot be carried out. The User shall be informed of this. The User may nevertheless decide to acquire financial instruments via the Platform. The same applies to cases in which Effecta is of the opinion that the User cannot adequately assess the risks arising from the financial instruments. Here too, the User shall be informed accordingly. The User may nevertheless decide to acquire Financial Instruments via the Platform.

(3) Users who wish to acquire financial instruments via the Platform must be domiciled or resident in the European Economic Area (EEA) and may only use the Platform for their own account. Registration is strictly personal and may not be transferred.

4. users of the Platform shall be classified by Effecta as so-called “private clients” (retail investors) prior to the conclusion of the brokerage agreement. This shall apply irrespective of the User’s knowledge and experience of and in transactions with financial instruments and other capital investments.

5. classification as a “Professional Client” or “Eligible Counterparty” is possible by agreement between the User and Effecta if and insofar as the User requests this and proves the respective requirements for classification as a “Professional Client” or “Eligible Counterparty”. A downgrading to “Private Client” is possible by agreement if the User requests this in writing to Effecta.

6. classification as a “Private Client” means that the User enjoys the highest statutory level of protection in terms of investor protection and transparency within the scope of the business relationship. A reclassification may have adverse effects for the User with regard to the scope of the verification obligations towards the User prior to the execution of the order.

7 In the case of the acquisition of financial instruments by Users, Kazpar and Effecta receive a commission from the respective issuer. The exact amount of the commission will be communicated to the User as soon as it has been determined. Kazpar and Effecta use these commissions to improve the quality of their services for the benefit of Users. The brokerage of the conclusion of financial instruments by Effecta and Kazpar is free of charge for Users.

8. payments on financial instruments must be made directly to the respective issuer. Kazpar itself does not accept and/or make any payments.

5. OPENING OF A DIGITAL SAFE DEPOSIT BOX (WALLET)

1. as part of the initial brokerage of a financial instrument, the user has the option of opening a digital safe deposit box (hereinafter also referred to as a “wallet”). For this purpose, Kazpar establishes contact with a self-custody solution for the investor. The investor can use this to create a wallet. Access to this wallet is only possible via Kazpar.

2. the opening and maintenance of the Wallet, including the costs for the initial transfer of the token-based securities to the Wallet, which are arranged by Kazpar, are free of charge for the user.

6. USE OF THE PLATFORM

1. kazpar enables users to retrieve information on financial instruments provided by issuers. It is the sole responsibility of the individual issuers to provide the information relevant to users for their decision to purchase financial instruments on the platform. In particular, Kazpar does not check whether and to what extent the purchase of financial instruments makes economic sense for the individual user. Each user makes this assessment independently and on their own responsibility. The user’s attention is expressly drawn to the risk warnings contained in the respective offer documents and prospectuses for the issuers’ offers. Users should only purchase financial instruments via the platform if they have read and understood the risk warnings in full.

(2) Kazpar points out that Kazpar does not carry out a credit assessment of the issuers and that the information provided by the issuers on financial instruments is only checked for plausibility and conclusiveness of the overall picture.

3. the respective issuer is solely responsible for the accuracy, completeness and timeliness of the information provided on financial instruments.

4. Kazpar only acts as an investment broker. The provision of information on the platform and the possibility of concluding a contract via the platform do not constitute a recommendation or investment advice. Kazpar does not check whether the financial instruments offered by the issuers correspond to the investment objectives of the users. A suitability test to this effect does not take place.

5. the use of the platform is free of charge for visitors and users.

6. any kind of comments, information and documents within the framework of the platform or the associated blogs that violate applicable laws or are otherwise inappropriate, in particular racist, pornographic, offensive or immoral content, are not permitted. Violations of this provision may result in the Platform user being liable for damages, the deletion of the posts concerned and/or the immediate exclusion of the Platform user from further use of the Platform.

7. insofar as Kazpar offers links to third-party websites with third-party content on the platform, this third-party content was checked at the time of initial linking to determine whether it could give rise to civil or criminal liability. It cannot be ruled out that the content may be subsequently changed by the respective providers. Kazpar does not constantly check the content of the linked websites for changes that could give rise to new liability.

8. in the event of indications of misuse of the platform, in particular in the case of contracts concluded via the platform without fulfillment of the payment obligations arising from the financial instruments, Kazpar reserves the right to exclude the user from using the platform with immediate effect.

9 Kazpar has the right to reduce, expand or otherwise change the services offered to users on the platform at any time. However, Kazpar is under no obligation to do so.

(10) Kazpar points out that Kazpar does not provide any services with regard to the safekeeping and transfer of tokenized securities. The safekeeping, management and security of tokens or other crypto assets or the cryptographic keys is the responsibility of the investor.

7 LIABILITY

1. kazpar shall be liable to visitors and users without limitation for injury to life, limb or health (personal injury) and for damages resulting from the intentional or grossly negligent breach of its contractual and pre-contractual obligations.

2 In addition, Kazpar is only liable for slight negligence in the event of a breach of material contractual obligations, i.e. the breach of obligations whose fulfillment is essential for the proper execution of the contractual agreements and on whose compliance the contractual partner may regularly rely (“cardinal obligation”). In the event of a slightly negligent breach of a cardinal obligation, Kazpar’s liability is limited to such typical damages and/or such a typical scope of damages that were foreseeable at the time the contract was concluded.

3. the above limitations of liability also apply in the event of fault on the part of a vicarious agent of Kazpar as well as for the personal liability of the employees, representatives and organs of Kazpar.

(4) Kazpar is not liable for the economic success of the financial instruments acquired by the user, the default of payments and the risk of insolvency of the issuers of financial instruments.

5. for the details and information provided by issuers on the platform, in particular regarding financial instruments, Kazpar accepts no liability whatsoever (see also section 6).

8. TERM, TERMINATION

1. registration on the platform is for an unlimited period of time and can be terminated by Kazpar and the registered user of the platform with a notice period of one week. Termination must be in text form (e.g. email, letter or fax); the registered user of the platform can terminate their registration by sending an email to info@kazpar.com.

2. the right to terminate for good cause remains unaffected.

3. any existing financial instruments with an issuer remain unaffected by a termination.

9. AVAILABILITY OF THE PLATFORM

Kazpar strives for comprehensive availability of the platform within the scope of what is technically and economically reasonable. However, for technical reasons, visitors and users of the platform cannot be guaranteed availability at all times. In particular, maintenance, security or capacity reasons as well as events beyond the control of Kazpar may lead to the temporary suspension of the services offered and the accessibility of the platform. Kazpar accepts no liability for technical difficulties experienced by visitors and users of the platform or by third parties. Kazpar reserves the right to temporarily restrict access to the platform at any time if this is necessary with regard to capacity limits, the security of Kazpar’s systems, to carry out technical measures or for other important reasons.

10. DATA PROTECTION, CONFIDENTIALITY, TAXES

1. the collection, processing and use of personal data in connection with the registration and subscription of financial instruments is carried out in strict compliance with data protection regulations. The processing of personal data serves to fulfill the agreed services and the legal obligations of Kazpar. Further information on this can be found in the data protection information, available at ######.

2. Kazpar manages the data provided by visitors and users itself. Kazpar only makes the data of a visitor/user available to other visitors/users if the visitor/user of the platform has given their consent and the data does not violate legal regulations or the GTC. Kazpar reserves the right to randomly check the data and/or information and documents of visitors/users of the platform.

3. for the purpose of paying church tax on investment income (insofar as Kazpar is obliged to pay church tax), Kazpar requests the user’s church tax details from the Federal Central Tax Office so that church tax can be paid for the user if necessary. The user can object to the disclosure of his/her data by issuing a blocking notice to the Federal Central Tax Office. A blocking notice remains in place until it is revoked in writing.

11. FINAL PROVISIONS

1. kazpar reserves the right to amend these GTC at any time and without giving reasons with effect for the future. Users of the platform will receive the amended GTC by e-mail at least four (4) weeks before they come into force. Kazpar will also draw attention to the amendment of these GTC on the Platform itself. If Platform users do not object to the validity of the amended GTC within four (4) weeks of receiving notification of the amendment to these GTC, they are deemed to have accepted the amended GTC. Silence on the part of Platform users shall only be deemed to constitute acceptance of the amended GTC if the amendment is made to implement a change in the legal situation (change in the law, court or official decision). Kazpar will inform users of the Platform separately of the legal consequences of silence in the notification of the amendment to these GTC. In the event of any other change, in particular to the main performance obligations under these GTC, Kazpar will obtain the acceptance of the users of the platform by other means.

2 These GTC and the legal relationship between Kazpar and the users are subject to the law of the Federal Republic of Germany. If the user is a consumer, mandatory statutory provisions of the country in which the user is resident remain unaffected. Subject to other mandatory statutory provisions (e.g. for consumers), the place of jurisdiction shall be the registered office of Kazpar.

3. the European Commission provides a platform for online dispute resolution (OS), which can be accessed at http://ec.europa.eu/consumers/odr/. Kazpar is not obliged or willing to participate in a dispute resolution procedure before a consumer arbitration board.

4 Should individual provisions of these GTC prove to be invalid or unenforceable, this shall not affect the validity of the remaining GTC.