Risk Disclosure Statement

1. Introduction

This Risk Disclosure Statement ("Statement") is provided by VELONXT INFORMATION TECHNOLOGY L.L.C S.O.C ("VELONXT", "NXT", "we", "us" or "our") to help you understand the risks associated with using NXT, NXT Pay, NXT Send and any other NXT-branded products, platforms, applications, websites, APIs, payment services, remittance services and related services that we may provide from time to time (collectively, the "Services").

By creating an account, accessing or using any NXT Service, you acknowledge that you understand and accept the risks described in this Statement.

This Statement does not identify every possible risk. Additional risks may arise from your personal circumstances, the jurisdiction in which you use the Services, changes in regulation, third-party providers, currency movements, technology, fraud and other factors outside our control.

2. Transaction Finality and Reversals

Many transactions processed through NXT may become final once they have been submitted, authorised, accepted or completed through the relevant payment network or third-party provider. These may include:

• merchant payments;
• payments through NXT Pay;
• person-to-person transfers through NXT Send;
• transfers to bank accounts or mobile money accounts;
• international payments and remittances; and
• other supported payment transactions.

If you provide incorrect recipient, account, mobile money, merchant or payment details, a transaction may be sent to the wrong destination and may not be recoverable.

3. Third-Party Payment Providers

NXT relies on third-party providers to deliver certain Services. These may include:

• banks and financial institutions;
• mobile money operators;
• card processors;
• payment service providers and aggregators;
• remittance and settlement partners;
• identity verification providers; and
• other regulated or authorised service providers.

Transactions may be delayed, rejected, reversed or otherwise affected by the systems, rules, operating hours, limits, outages, compliance requirements or decisions of these third parties.

NXT is not responsible for delays, downtime, failed transactions, third-party fees, account restrictions or verification requirements that are outside our reasonable control.

4. Currency Conversion and Exchange Rate Risks

Where a transaction involves currency conversion:

• exchange rates may fluctuate;
• conversion fees or margins may apply;
• the rate available when you initiate a transaction may differ from the rate available when the transaction is completed;
• third-party providers may use their own conversion rates; and
• the recipient may receive more or less local currency due to currency movements or provider charges.

NXT does not guarantee a fixed exchange rate unless a particular Service expressly confirms that a rate is locked for a stated period.

5. Regulatory and Compliance Risks

NXT Services may be provided across multiple jurisdictions and are subject to financial, payment, remittance, consumer protection, data protection and financial crime prevention requirements.

You acknowledge that:

• laws and regulations may change;
• certain Services may be restricted, suspended, delayed or unavailable in some jurisdictions;
• NXT or its partners may be required to delay, reject, block or review a transaction;
• transaction limits may apply;
• you may be required to provide additional identity, source-of-funds, business or transaction information; and
• failure to satisfy verification or compliance requirements may result in restrictions, suspension or closure of your account.

6. Fraud, Scams and Social Engineering

Digital payments and transfers can be targeted by fraudsters. Risks include impersonation scams, phishing, fake merchants, account takeover, payment request scams and social engineering.

• NXT staff will not ask you to disclose your password, PIN or one-time verification code through an unsolicited message or call.
• You should verify recipients and merchants before sending funds.
• You should not follow suspicious payment links or instructions from unverified parties.
• You should never allow another person to access your account or authentication credentials.
• Transfers authorised by you may not be recoverable where you were deceived by a third party.

You should contact NXT immediately if you believe your account, device or credentials have been compromised.

7. Account Security Risks

You are responsible for taking reasonable steps to protect your device, NXT account and authentication credentials.

Risks include:

• device theft or loss;
• malware or malicious software;
• unauthorised access caused by weak or reused credentials;
• SIM-swap or mobile account compromise;
• sharing verification codes or account credentials; and
• accessing NXT through insecure devices or networks.

If another person gains access to your account or device, they may be able to initiate transactions or access information associated with your NXT account.

8. Service Availability Risks

Although NXT aims to provide reliable Services, uninterrupted availability cannot be guaranteed.

Services may be affected by:

• scheduled maintenance;
• software or infrastructure upgrades;
• internet or telecommunications outages;
• bank or mobile money downtime;
• third-party processor failures;
• cybersecurity incidents;
• power or network disruptions;
• regulatory intervention; or
• events beyond our reasonable control.

Payments, transfers or account access may therefore be temporarily delayed or unavailable.

9. Data and Privacy Risks

NXT uses technical and organisational safeguards designed to protect Personal Information. However, no digital platform, communications network or third-party service is completely immune from security incidents.

Risks may include:

• cyberattacks and unauthorised access;
• data breaches affecting NXT or third-party providers;
• compromise of your own device or email account;
• transmission risks when using unsecured networks; and
• third-party processing required to verify identity or complete transactions.

For further details on how Personal Information is processed, please refer to the NXT Privacy Policy.

10. No Financial, Tax or Investment Advice

NXT provides payment and related services. NXT does not provide personalised financial, investment, legal or tax advice.

We do not:

• provide investment recommendations;
• guarantee investment returns or future financial outcomes;
• provide personalised tax advice; or
• make decisions on your behalf about whether a particular transaction is suitable for you.

You should obtain independent professional advice where appropriate.

11. Recipient and Merchant Risks

NXT may facilitate transactions between you and merchants, recipients, beneficiaries or other third parties. NXT does not necessarily control the underlying goods, services, conduct or obligations of those parties.

You remain responsible for ensuring that:

• you are paying the intended merchant or recipient;
• transaction details are correct;
• the underlying transaction is lawful; and
• you understand any terms imposed by the merchant, recipient or third-party provider.

A dispute with a merchant or recipient does not automatically give you a right to reverse a completed NXT transaction.

12. International Transaction Risks

Cross-border payments and remittances may involve additional risks, including:

• foreign exchange fluctuations;
• intermediary or recipient-bank charges;
• different banking or payment system operating hours;
• local transaction limits;
• additional regulatory screening;
• delays caused by correspondent or local payment partners; and
• different consumer protection or dispute procedures in the recipient's jurisdiction.

Processing times shown by NXT are estimates unless expressly stated otherwise.

13. User Responsibility

By using NXT, NXT Pay, NXT Send or another NXT Service, you acknowledge that you:

• understand and accept the risks described in this Statement;
• will verify transaction details before confirming a transaction;
• are responsible for maintaining the security of your device and credentials;
• will provide accurate and complete information;
• will use the Services only for lawful purposes;
• will comply with the NXT Terms & Conditions and Privacy Policy; and
• understand that errors, fraud or unauthorised access may result in financial loss.

14. Limitation of Liability

To the maximum extent permitted by applicable law, VELONXT and NXT will not be liable for losses resulting from circumstances outside their reasonable control, including:

• incorrect transaction or recipient information supplied by a user;
• fraud or scams involving independent third parties;
• compromised devices, credentials or authentication information;
• third-party payment provider failures or restrictions;
• telecommunications or internet outages;
• foreign exchange movements;
• regulatory restrictions or required compliance actions; or
• force majeure events.

Nothing in this Statement excludes or limits liability where doing so would be prohibited by applicable law.

15. Scope of the NXT Brand

References to NXT in this Statement include, where applicable, NXT Pay, NXT Send, NXT websites, NXT applications, NXT APIs, NXT merchant services, NXT business services, NXT agent services, NXT payment services, NXT remittance services and any other product or service offered by VELONXT INFORMATION TECHNOLOGY L.L.C S.O.C under the NXT name or brand.

16. Contact Information