Terms and Conditions of Sale

Company

These Terms and Conditions of Sale (hereinafter the "Terms of Sale" or "CGV") govern the contractual relationship between:

Hereinafter referred to as "Vestrelin" or "the Company".

VESTRELIN LLC operates the Ephore Market brand and the website www.ephore-market.com. Orders placed from the date these Terms of Sale are published online are concluded with VESTRELIN LLC. Earlier orders remain governed by the terms and conditions of sale in force on the day of the order, concluded with EPHORE ASSET MGMT - FZCO, for which VESTRELIN LLC ensures the continuity of access and service.

In the Subscription Terms and Conditions referred to in Article 20, the same company is designated as "EPHORE MARKET". Both designations refer to the same legal entity.

And any natural or legal person making a purchase on the website www.ephore-market.com, hereinafter referred to as "the Client".

Acceptance of the Terms of Sale

These Terms of Sale are accessible at any time on the website www.ephore-market.com. By confirming their order, the Client acknowledges having read these Terms of Sale and accepts them without reservation.

The version of the Terms of Sale applicable to an order is the one in force on the date that order is confirmed. No special condition originating from the Client may prevail over these Terms of Sale, unless Vestrelin has accepted it in writing and in advance.

Contractual documents

The contractual relationship is governed by these Terms of Sale and, for the "Ephore Subscription" offer, by the Subscription Terms and Conditions (hereinafter the "Subscription Terms" or "CGA"), accessible at ephore-market.com/pages/conditions-abonnement. The Subscription Terms supplement these Terms of Sale; in the event of a contradiction relating to the subscription, the Subscription Terms prevail. The terms specific to the subscription are summarised in Article 20.

By exception, where these Terms of Sale grant the Client an additional right or a more favourable term than the Subscription Terms, that stipulation prevails.

Legal capacity

The Client declares that they are of legal age and legally capable of entering into a contract, or that they are acting on behalf of a legal entity which they have the authority to bind. Vestrelin's products are intended exclusively for persons of legal age.

Vestrelin reserves the right to refuse or cancel any order from a person who does not meet these conditions, without this giving rise to any compensation whatsoever for the Client.

Products

Nature of the services and regulatory status

Vestrelin's services are exclusively educational and technical. Under no circumstances do they constitute personalised investment advice, a recommendation to buy or sell financial instruments, a signals service, portfolio management on behalf of third parties, or a regulated activity within the meaning of the French Code monétaire et financier (French Monetary and Financial Code). Vestrelin is neither a Conseiller en Investissements Financiers (CIF, French financial investment adviser), nor a Prestataire de Services d'Investissement (PSI, investment services provider), nor a management company authorised by the AMF (Autorité des marchés financiers, the French financial markets regulator), and neither holds nor manages any funds on behalf of its clients. Trading involves a high risk of capital loss; past performance is no guarantee of future performance; no guarantee of results is given. The Client acts under their sole responsibility.

Products offered

Vestrelin offers exclusively digital products:

• Access to proprietary trading indicators for TradingView
• Access to complete training in the use of these tools
• Educational content on trading (videos, PDFs, tutorials)
• Access to a private community forum
• Access to individual coaching and mentoring sessions as part of the VIP offers
• Access to a training course dedicated to risk management with the funding companies known as "prop firms", and to a tool for comparing their rules
• Access to a trading terminal integrated into the application, a separate service offered by subscription after a one-month free trial, governed by Articles 20 and 21

Offers and scope

Since 1 September 2026, these products, with the exception of the trading terminal, have been marketed under two offers:

• Ephore Market Ultimate: one year of access, at the price of 599 € paid in one go, renewable each year by a new payment under the conditions of Article 8, including the proprietary indicator system and its updates, the technical alerts, the Complete Training, Ephore Prop System, the Ephores Forum and the Ephores GPT, under the conditions announced on the offer page on the day of the order;
• Accompagnement Privé (private coaching programme, VIP offer): six months of individual coaching with Elio, additionally governed by Article 13, and Ultimate access for one year from the order.

Trading terminal: the trading terminal governed by Article 21 is a separate service. It is included neither in the Ultimate offer, nor in the Accompagnement Privé, nor in any other offer. It is offered to the Customers referred to in Article 20.1, by monthly subscription at the price of 29,99 € per month, after a one-month free trial, under the conditions of Articles 20 and 21.3.

Offers closed to new orders since 1 September 2026: the Ephore Subscription (access to the indicators on TradingView, installation and settings training, the "Le coin des membres" (members' corner, formerly "Le coin des abonnés") area and publication on the "Mur des victoires" (wall of wins); current subscriptions remain governed by Article 20 and by the Subscription Terms, and its monthly plan continues as a trading terminal subscription, reserved for the members referred to in Article 20.1) and Ephore Prop System sold on its own (Ephore Prop System training and the tool for comparing the rules of funding companies). Orders placed before 1 September 2026 remain governed by the Terms of Sale in force on the day of the order.

The exact scope of each offer is that announced on its sales page on the day of subscription. In the event of a discrepancy between a sales page and these Terms of Sale as to the extent of an offer, the sales page in force on the day of the order prevails, to the benefit of the Client.

Prices and payment

All prices displayed on the site are in euros (€) and are inclusive of all taxes: the displayed price is the total price payable by the Client, with no additional tax or fee being charged on top. Vestrelin does not charge any VAT.

Payment is secure and is made via Stripe or PayPal. Access to the products is granted after the payment has been processed or, in the case of instalment payment, after the first instalment, under the conditions of Articles 6 and 8.

Payment in several instalments may be offered, under the conditions set out in Article 6: via PayPal, on the Ultimate offer and on the Accompagnement Privé offer; via Stripe, on the Accompagnement Privé offer.

The Ultimate offer gives rise to no automatic charge: each annual period is paid in one go, at the time of the order and then at each renewal decided by the Client, under the conditions of Article 8. Subscription offers (trading terminal subscription, current Ephore Subscription) give rise to a recurring payment: the price is automatically charged at each due date to the payment method registered at the time of subscription, until cancellation. The terms of this charge, of its failure and of the price revision for future periods are set out in Article 20 and, for the Ephore Subscription, in the Subscription Terms.

Vestrelin reserves the right to change its prices at any time. The applicable price is the one displayed at the time the order is confirmed by the Client.

By exception, the price of a subscription may be revised for future periods under the conditions of Article 20.2. The price of a renewal of the Ultimate offer is the price displayed on the site on the day of the renewal.

Any payment dispute (chargeback, stop payment or bank dispute) initiated by the Client after their access to the content has been opened, and without legitimate grounds, constitutes a breach of these Terms of Sale. It results in the immediate suspension of all access and entitles Vestrelin to initiate any procedure for the recovery of the sums due, without prejudice to damages. The Client is invited to use, as a first resort, the money-back guarantee provided for in Article 7, which constitutes the contractual route to a refund.

Instalment payment

Instalment payment is not a subscription. This Article governs the split payment of the price of an offer paid in one go: the Ultimate offer, for each annual period, and the Accompagnement Privé offer. The Client pays a total price, in several instalments, for the period or service concerned, and retains their access under the conditions of Article 8. Subscription offers (trading terminal subscription, Ephore Subscription) follow a different logic: the Client pays for the use of a period, automatically charged at each due date, and access ends at the end of the last paid period. They are governed by Article 20 and give rise to no instalment payment.

Payment in several instalments may be offered under two distinct arrangements: via PayPal, on the Ultimate offer and on the Accompagnement Privé offer; via Stripe, on the Accompagnement Privé offer only.

6.1 Payment in several instalments via PayPal

The payment in several instalments offered via PayPal is provided and managed by PayPal, under its sole responsibility and in accordance with its own terms of use. This payment facility constitutes an agreement concluded directly between the Client and PayPal, to which Vestrelin is not a party.

Vestrelin receives the amount of the order under the conditions set by PayPal, so that the price is deemed paid in full as regards Vestrelin, and is not involved in the granting, the management or the collection of the instalments. Any claim relating to this instalment payment must be addressed directly to PayPal.

6.2 Payment in two instalments via Stripe (Accompagnement Privé offer)

Vestrelin may offer, by means of a Stripe payment link, payment for the Accompagnement Privé offer in two instalments. By opting for this arrangement, the Client undertakes to pay the full price according to the payment schedule agreed at the time of the order.

• In the event of non-payment of the second instalment (unpaid due date, bank rejection, stop payment), all access (indicators, training, forum) is immediately suspended.
• Access is restored within 24 hours of full regularisation.
• Sums already paid are retained by Vestrelin and do not give rise to any refund.
• If the situation is not regularised within 30 days, Vestrelin reserves the right to permanently cancel access and to initiate any procedure for the recovery of the outstanding balance.

Entitlement to the money-back guarantee provided for in Article 7 is subject to payment of the full price of the offer.

Right of withdrawal and money-back guarantee

7.0 General reservation for the benefit of the consumer Client

The stipulations of these Terms of Sale that exclude or limit a refund, a price reduction, a termination of the contract or compensation do not apply to the rights that the consumer Client derives from the legal guarantee of conformity for digital content and digital services, from the legal guarantee against hidden defects, or from the mandatory provisions of the law of their habitual residence. In the event of a lack of conformity, the Client may obtain the bringing into conformity and, failing that, a price reduction or the termination of the contract with a refund, under the conditions recalled in Article 9. This reservation prevails over any contrary stipulation herein, in particular Articles 6, 7, 8, 12, 13 and 20.

7.1 Statutory right of withdrawal

The consumer Client has, in principle, a period of fourteen (14) days from the conclusion of the contract to exercise their right of withdrawal, without having to give reasons for their decision.

Vestrelin's products and services are digital content supplied on an intangible medium and digital services whose performance begins immediately after the order. In accordance with Article L221-28, 13° of the Code de la consommation (French Consumer Code), this right of withdrawal is lost when three conditions are met: the Client has given their prior express consent for performance to begin before the end of the fourteen-day period; they have expressly acknowledged that they would thereby lose their right of withdrawal; and Vestrelin has provided them with confirmation of this consent on a durable medium.

The right of withdrawal is therefore lost when, during the ordering process, the Client expressly requests immediate performance and expressly acknowledges losing this right, and Vestrelin sends them confirmation of this on a durable medium. Failing any one of these three conditions, the right of withdrawal remains and is exercised under the conditions of Article 7.4.

For subscription offers, the waiver of the right of withdrawal is governed by Article 20.6 and, for the Ephore Subscription, by Article 5 of the Subscription Terms. The renewal of a subscription period does not constitute a new order and does not open any new withdrawal period: it continues the current contract, which the Client remains free to cancel at any time under the conditions of Article 20.4. A renewal of the Ultimate offer, paid through a new order under the conditions of Article 8, constitutes a new order: the right of withdrawal applies to it and is lost under the same conditions.

7.2 Commercial money-back guarantee (Ultimate offer)

Independently of the waiver of the right of withdrawal provided for in Article 7.1, Vestrelin grants the Client a commercial "money-back" guarantee covering exclusively the first annual period of the Ephore Market Ultimate offer. This guarantee is based on a simple principle: the system and the method taught must have been genuinely tested in their entirety before any refund request.

The trading terminal subscription and the Ephore Subscription are excluded from this guarantee. No "money-back" guarantee is granted on these subscriptions, in any form or for any amount whatsoever, nor on the annual periods of the Ultimate offer subsequent to the first. Periods that have begun or have already been paid for do not give rise to any refund, in whole or in part. The counterpart of any subscription is the freedom to cancel at any time, without justification or fees, under the conditions of Article 20.4; the counterpart of the Ultimate offer is the absence of any automatic renewal, the renewal remaining the Client's choice.

For a Client who has subscribed to the Ultimate offer, the guarantee covers 100% of the price actually paid for the first annual period of that offer.

For a Member who has subscribed to a VIP offer, the guarantee covers exclusively the Ultimate component included in that offer. The refund is then strictly capped at the sale price of the Ephore Market Ultimate offer as displayed on the site on the day the Member subscribed to the VIP offer. The sums corresponding to the individual coaching (coaching and mentoring sessions, audit, action plan, access to the VIP group) constitute personalised services and are not refundable under any circumstances, in accordance with Article 13.8.

Entitlement to this guarantee is subject to compliance with all of the following cumulative conditions:

• Having paid the full price of the offer concerned;
• Having completed the entire training course (100% of the modules completed);
• Having kept, for a period of at least 3 consecutive months from the opening of access, a personal trading journal on the Ephores Forum, updated every week. Each weekly entry presents at least one analysis documented according to the method taught (context, location, confluence, decision), whether it leads to a position, accompanied by a screenshot of the position and of its result, or to a reasoned decision not to trade. This journal must attest to the genuine and sustained application of the method taught throughout the period.

No minimum number of positions or messages is required: the method taught also consists in not opening anything in the absence of confluence, and a week without a position, documented as such, counts as a week of application. The sole purpose of these conditions is to ensure that the Client has genuinely tested the system and used all of the tools and resources made available to them.

7.3 Procedure for exercising the guarantee

• The refund request must be sent by e-mail to support@ephore-market.com, accompanied by the corresponding supporting documents (full training progress, trading journal kept on the Ephores Forum);
• The request must be made no later than 15 days after the expiry of the minimum 3-month period referred to in Article 7.2, i.e. no later than 3 months and 15 days after the opening of access. After this period, the guarantee is definitively extinguished;
• Vestrelin examines the request and responds to it within 14 days of its complete receipt;
• If eligible, the full refund is made via the payment method used at the time of the order, within 14 days of the request being approved;
• The refund results in the immediate and permanent cancellation of all of the Client's access (indicators, training, forum and, for VIP Members, VIP areas and remaining coaching sessions, without compensation or additional refund);
• The guarantee may only be exercised once per Client, whatever the offer concerned;
• The guarantee is excluded in the event of a breach by the Client of these Terms of Sale, in particular of the stipulations of Article 12 relating to intellectual property.

Subject to Article 7.0, and apart from the commercial guarantee provided for in this Article, no refund may be demanded once access to the content has been opened.

The conditions specific to the sessions of the VIP offers are set out in Article 13.

7.4 Exercise of the right of withdrawal where it remains

Where the right of withdrawal is not lost under the conditions of Article 7.1, the Client exercises it by notifying their decision before the expiry of the fourteen (14) day period, by means of an unambiguous statement sent by e-mail to support@ephore-market.com, or by means of the model form reproduced below, the use of which is not compulsory.

Vestrelin then refunds the Client all sums paid, no later than fourteen (14) days after the date on which it is informed of the decision to withdraw, using the same means of payment as that used for the order. Where the Client has requested that performance begin during the withdrawal period, they remain liable for the price corresponding to the service actually provided up to the communication of their decision, in accordance with Article L221-25 of the Code de la consommation.

Model withdrawal form

Delivery and access

Access to the indicators: within a maximum of 8 hours after payment, activated on the Client's TradingView account.

Access to the training: immediate after payment, exclusively via the dedicated area on www.ephore-market.com.

Access to the forum: immediate after payment, via the community platform.

Confirmation: an automatic e-mail is sent to the address provided by the Client.

The above time limits also apply to each renewal of the Ultimate offer and, for subscription offers, each time a period is renewed.

No content is sent by e-mail, external link, Drive or physical medium. The buyer is responsible for correctly entering their e-mail address and their TradingView username.

Duration and evolution of access

For the Ultimate offer, access is granted for a period of one year from the order. As the expiry date approaches, Vestrelin reminds the Client, by e-mail and in the application, seven days before, the day before and on the day itself, that a new payment is required to keep access, with a direct link to the payment. Renewal is the Client's choice: no sum is charged without a new order on their part. A renewal paid before the expiry date opens a new one-year period from the end of the current period; paid after the expiry date, it opens a new one-year period from its payment. Failing renewal at the expiry date, all access opened by the offer (indicators on TradingView, trading terminal, training courses, forum, GPT) is suspended automatically, without further formality, and restored after the new payment within the time limits of this Article. Suspension confers no vested right to the content, nor any right to retain, copy or export it.

For the Accompagnement Privé (private coaching programme), Ultimate access is granted for one year from the order and the individual coaching extends over six months. Orders placed before 1 September 2026 retain the access conditions in force on the day of the order; the words "lifetime access" that appeared in them are to be understood as the period during which the product is marketed and maintained by Vestrelin.

Access opened by a subscription (trading terminal subscription, Ephore Subscription) is granted solely for the duration of the periods actually paid for; the words "lifetime access" apply neither to subscriptions nor to the Ultimate offer. At the end of the last paid period, all access is withdrawn automatically, under the conditions set out in Article 20.4.

Vestrelin reserves the right to develop its products and services: updating, adding, replacing or removing indicators, training modules or features, as well as changing the technical platform, in particular the community platform. Provided that these changes neither remove nor degrade an essential characteristic of the offer subscribed to, as described in Article 4 and, for the subscription, in Article 20.1, they do not constitute a breach of contract and do not give rise, subject to Article 7.0, to any refund or compensation. Otherwise, the Client has the rights set out in Article 9 and, if a subscriber, the option to cancel under the conditions set out in Article 20.4.

Rules of good conduct within the community spaces

The Client undertakes to behave respectfully within the forum and any Vestrelin community space. The following in particular are prohibited: harassment, abusive, defamatory or discriminatory remarks, spam, soliciting or promoting third-party services, disparagement, the dissemination of signals or investment advice, and the sharing of unlawful content.

In the event of a breach, Vestrelin may, after a warning has gone unheeded or immediately in the event of a serious breach, suspend or cancel the Client's access to the community spaces, without refund or compensation. Access to the indicators and the training is not affected by an exclusion limited to the community spaces, except in the event of a breach falling under Article 12.

Legal and commercial guarantees

9.1 Legal guarantees

Independently of the commercial guarantee provided for in Article 7 and the contractual guarantees listed in Article 9.2, the consumer Client benefits from the legal guarantee of conformity for digital content and digital services and from the legal guarantee against hidden defects. The statements below are reproduced pursuant to Articles L224-25-1 et seq. and D211-3 and D211-4 of the Code de la consommation (French Consumer Code).

One-off supply (Accompagnement Privé offer and orders placed before 1 September 2026)

Continuous supply over a period (Ultimate offer, trading terminal subscription, Ephore Subscription)

Any claim under the legal guarantees is to be sent to support@ephore-market.com.

9.2 Contractual guarantees

In addition to the legal guarantees set out in Article 9.1, Vestrelin guarantees:

• The proper technical functioning of the indicators on TradingView
• Access to the training courses included in the offer subscribed to, in accordance with the terms provided and solely for the duration of the paid periods, for the Ultimate offer as for subscriptions
• Technical support by e-mail in the event of a problem (support@ephore-market.com)
• A commercial "money-back" guarantee on the Ultimate offer, under the conditions, limits and terms provided for in Article 7

Vestrelin does not guarantee:

• Trading results or profits
• The profitability of the Client's trading activity
• Any future performance of the financial markets
• The permanent and uninterrupted availability of the third-party platforms on which access depends, in particular TradingView, whose operation does not depend on Vestrelin; the guarantee of proper technical functioning referred to above covers the indicators themselves, not the availability of the platform that hosts them

Liability

Trading involves a high risk of capital loss. The Client may lose all or part of their invested capital. The products offered by Vestrelin are exclusively educational tools and under no circumstances constitute investment advice.

Vestrelin's liability shall not exceed the amount actually paid by the Client for the purchase of the product concerned. Under no circumstances shall Vestrelin be held liable for financial losses incurred by the Client in the course of their trading activity.

For the "Ephore Subscription" offer, the limitation of liability is that provided for in Article 10 of the Subscription Terms (CGA).

Nothing in these Terms of Sale excludes or limits any liability that cannot lawfully be excluded or limited with respect to consumers, in particular the right to compensation for loss suffered by the consumer Client in the event of a breach by Vestrelin of any of its obligations, nor the right to seek the rescission or cancellation of the contract in the event of Vestrelin's failure to perform its obligation to supply the service.

Force majeure

Vestrelin shall not be held liable for any non-performance or delay in the performance of its obligations resulting from a case of force majeure or an event beyond its reasonable control, in particular a failure, interruption or unavailability of third-party platforms (TradingView, payment providers, hosting provider, community platform), a network outage, a cyberattack, or any decision by a competent authority.

For the duration of the event, Vestrelin's affected obligations are suspended, without the Client being able to claim any compensation as a result, and subject to Article 7.0.

For subscription offers, the Client retains in all cases the option to cancel at any time under the conditions set out in Article 20.4.

Intellectual property

All content offered by Vestrelin (indicators, Pine Script code, videos, documents, training courses, design) is and remains the exclusive property of Vestrelin.

The Client obtains a personal, non-assignable and non-transferable right of use, limited to a single TradingView account. It is strictly prohibited to share, copy, reproduce, resell, distribute or publish all or part of the content in any form whatsoever, on pain of legal proceedings and immediate cancellation of access without refund.

For the Ultimate offer and for subscription offers (trading terminal subscription, Ephore Subscription), this right of use is further limited to the duration of the paid periods; it is suspended or ends automatically at the end of the last paid period. For the Ephore Subscription, the number of TradingView username changes is capped under the conditions set out in Article 6 of the Subscription Terms (CGA).

Coaching sessions and VIP mentoring: recording, reuse and image rights

This Article applies to any Client subscribing to an offer that includes individual coaching or mentoring sessions (hereinafter "VIP offers"). The Client concerned is hereinafter referred to as "the Member".

13.1 Recording of sessions

All coaching and mentoring sessions (video conferences, telephone or voice calls, screen shares) are systematically recorded in audio, video, image and screenshot form. By booking, confirming or taking part in a session, the Member expressly, freely and unreservedly consents to being recorded, and to the recording of their voice, image, name, username and any information communicated during the session.

13.2 Exploitation licence granted to Vestrelin

The Member grants Vestrelin, free of charge, on a non-exclusive basis, for the whole world and for the entire legal term of protection of the rights, an irrevocable licence subject to the reservation provided for in Article 13.7, transferable and capable of being sub-licensed, authorising it to use, reproduce, record, fix, edit, modify, adapt, translate, subtitle, cut into excerpts, broadcast, communicate to the public, market and exploit, on any medium and by any process known or yet to come, all or part of the sessions, their recordings, and the summaries, reports, transcripts and analyses derived from them.

This licence covers in particular the Member's image, voice, name and username.

13.3 Reuse within Vestrelin spaces

Vestrelin may publish, rebroadcast, archive and make available the recordings, excerpts, summaries and reports within all of its spaces and services, present or future, in particular its forum, its VIP club, its intermediate sections, its training spaces and any other section. This content may be made accessible to other clients or members.

Vestrelin freely determines the conditions, the level of access and the price of access to this content. The Member may not object to this nor claim any remuneration, commission, royalty or share, on any basis whatsoever.

13.4 Use for promotional and advertising purposes

Vestrelin may use all or part of the recordings, excerpts and derived content for promotional, communication and advertising purposes, in particular on its website, its social networks (Instagram, YouTube, X, TikTok, Facebook and any other social network), its paid advertising campaigns and any other distribution channel, online and offline, in compliance with the policies of the distribution platforms concerned.

The Member acknowledges that no financial consideration is owed to them for these uses.

13.5 Anonymisation on request

The Member may, at any time, by express written request sent by e-mail to support@ephore-market.com, ask that their face, voice and name be anonymised (blurring of the image, alteration or removal of the voice, masking of the name) in content used for external promotional purposes within the meaning of Article 13.4.

Vestrelin will act on this request for external promotional publications made after its receipt, within a reasonable time. This option does not apply to the internal reuse referred to in Article 13.3, nor to content already put online, for which Vestrelin will freely assess whether anonymisation is appropriate. A request for anonymisation does not entail any obligation to delete or withdraw existing content.

13.6 Member's undertakings

In return for the access granted to them, the Member undertakes not to share, distribute, reproduce, resell or publish, in whole or in part, the recordings, summaries and content of the sessions, in accordance with Article 12. Any breach results in the immediate cancellation of access, without refund, and without prejudice to any claim for damages.

13.7 Personal data and waiver

The processing of personal data relating to the sessions is governed by Article 14 and by the Privacy Policy. The Member retains the rights granted to them by the GDPR.

The Member retains all of the rights granted to them by the GDPR and applicable law, in particular the right to withdraw consent and the right to object. The exercise of these rights applies to the future: it prevents uses subsequent to its receipt, without obliging Vestrelin to withdraw content already distributed, and without prejudice to the anonymisation option provided for in Article 13.5.

13.8 Cancellation of sessions and refund of VIP offers

VIP offers constitute personalised services. The Member acknowledges that, by requesting the start of the coaching, performance of the service begins immediately, and expressly waives their right of withdrawal.

Any session booked and then not attended by the Member, or cancelled by them less than 24 hours in advance, is deemed due and gives rise neither to automatic rescheduling nor to a refund.

Sums paid for a VIP offer remain the property of Vestrelin and are not refundable. By way of exception, only the Ultimate component included in the VIP offer may be refunded under the conditions, limits and terms provided for in Article 7, up to a maximum of the price of the Ephore Market Ultimate offer in force on the day the VIP offer was subscribed to. Sums corresponding to the individual coaching (coaching and mentoring sessions, audit, action plan, access to the VIP group) are not refundable under any circumstances.

Personal data

The Client's personal data is processed in accordance with the General Data Protection Regulation (GDPR, Regulation (EU) 2016/679) and the Privacy Policy available on the website www.ephore-market.com.

The data controller is VESTRELIN LLC. For any request relating to their personal data, the Client may write to support@ephore-market.com.

Amendment of the Terms of Sale

Vestrelin reserves the right to amend these Terms of Sale at any time. The Terms of Sale applicable to an order are those in force on the date the order is confirmed, and amendments have no retroactive effect on orders already concluded.

The Customer is invited to consult the online version of these Terms of Sale regularly.

For subscription offers, these Terms of Sale and, for the Ephore Subscription, the Subscription Terms (CGA) may be amended for future periods. Any amendment unfavourable to the Customer is notified by e-mail at least thirty (30) days before it takes effect, the Customer remaining free to cancel before that date. Continuing the subscription after the amendment takes effect constitutes acceptance.

Assignment of the contract

Vestrelin may assign or transfer this contract, together with all the rights and obligations arising from it, to any entity called upon to continue operating the products and services referred to in Article 4, in particular in the context of a reorganisation, a transfer of business or a transfer of assets.

The Customer consents in advance to this assignment, in accordance with Article 1216, first paragraph, of the French Civil Code (Code civil) where it is applicable. The assignment takes effect with respect to the Customer from the time the Customer is informed of it by any written means (e-mail or publication on the website).

The assignment may not have the effect of reducing the rights the Customer holds under these Terms of Sale: the assignee entity is bound to continue performing the access and services subscribed to under conditions that are at least equivalent. From the time the assignment takes effect, the assignor is released for the future from the obligations so transferred, which the Customer expressly accepts.

This Article applies to the "Ephore Subscription" offer for any matter not governed by the Subscription Terms (CGA).

Governing law, language and disputes

These Terms of Sale are drawn up in French. In the event of translation, only the French version is authoritative.

This language clause applies to all the contractual documents referred to in Article 2, including the Subscription Terms (CGA) and their translations.

These Terms of Sale are governed by the federal law of the United Arab Emirates as applicable in the Emirate of Dubai.

This choice of law does not, however, deprive the consumer Customer of the protection afforded by the mandatory provisions of the law of the country of his or her habitual residence, which cannot be derogated from by agreement. In particular, a consumer Customer residing in a Member State of the European Union retains the benefit of the mandatory provisions of the law of his or her country of residence, in accordance with Article 6(2) of Regulation (EC) No 593/2008 of 17 June 2008 ("Rome I"); a Customer residing in France thus retains, in particular, the benefit of the mandatory provisions of the Code de la consommation (French Consumer Code). A consumer Customer residing in Switzerland retains the protection of the mandatory provisions applicable to contracts concluded with consumers under Swiss law.

The consumer Customer may use any consumer mediation or out-of-court dispute resolution scheme applicable in his or her country of residence. The list of approved out-of-court dispute resolution bodies by Member State is published by the European Commission at consumer-redress.ec.europa.eu/dispute-resolution-bodies. To date, Vestrelin is not a member of any consumer mediation scheme.

In the event of a dispute, an amicable solution will be sought as a priority before any legal action. Failing that, the dispute will be brought before the competent courts of the Emirate of Dubai (Dubai Courts), United Arab Emirates. This clause does not prevent the consumer Customer from bringing proceedings before the court of his or her place of residence, nor does it override the rule that he or she may only be sued before that court, where applicable mandatory provisions or rules of jurisdiction, in particular European rules, so provide.

For the "Ephore Subscription" offer, Article 15 of the Subscription Terms (CGA) applies and prevails. These provisions on governing law and disputes apply on a supplementary basis, for any matter not governed by the Subscription Terms (CGA).

Severability

If one or more provisions of these Terms of Sale were declared void, invalid or unenforceable under a law, a regulation or a court decision, the other provisions would retain their full force and scope.

The provision concerned would be replaced by a valid provision of equivalent effect, to the fullest extent permitted.

This Article also applies to the Subscription Terms (CGA).

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Subscriptions: trading terminal subscription and Ephore Subscription

This Article governs the subscription offers: the trading terminal subscription, a separate service included in no other offer, in particular neither in the Ultimate offer nor in the Accompagnement Privé; and the Ephore Subscription, closed to new subscriptions since 1 September 2026 and maintained for current subscriptions. Unless otherwise specified, "the subscription" refers to each of these offers. The Ephore Market Ultimate offer is not a subscription: it is paid in one go for one year and is renewed by a new payment, under the conditions of Article 8; this Article does not apply to it, except by express reference. For the Ephore Subscription, the contractual details are set out in the Subscription Terms and Conditions, available at ephore-market.com/pages/conditions-abonnement (the "Subscription Terms" or "CGA"): the Subscription Terms (CGA) supplement these Terms of Sale and, in the event of a contradiction relating to this subscription, they prevail, except where this Article grants the Customer an additional right or a more favourable term, in which case that provision prevails. The trading terminal subscription is governed by these Terms of Sale alone.

20.1 Scope of the subscriptions

The trading terminal subscription takes the form of the Ephore Subscription on a monthly plan. It is reserved for Customers holding the Ultimate offer or the Accompagnement Privé, whatever the date of their order, at the end of their one-month trial provided for in Article 21.3; Vestrelin may refuse any other subscription. The one-month trial gives rise to no payment and to no automatic subscription. The subscription gives access to the trading terminal under the conditions of Article 21, as well as to the Ephore Subscription access rights referred to below, which these Customers already hold under their offer.

The Ephore Subscription, for current subscriptions, gives access to:

• access to the Ephore Market proprietary indicator system on the TradingView platform, in "invite-only" mode, linked to a single TradingView username;
• access to the installation and settings training on the Ephore Market platform;
• access to the "Le coin des membres" (members' corner, formerly "Le coin des abonnés") area of the Ephores Forum and the ability to post on the "Mur des victoires" (wall of wins);
• since 2 September 2026, access to the trading terminal governed by Article 21.

The Ephore Subscription does not give access to any other content, training or service: neither the Complete Training, nor the Ephores GPT, nor the coaching or mentoring sessions referred to in Article 13. The "lifetime access" wording referred to in Article 8 does not apply to any subscription.

20.2 Price, renewal dates and payment collection

The trading terminal subscription (Ephore Subscription, monthly plan) is priced at 29,99 € per month. The yearly plan of the Ephore Subscription is closed to new subscriptions; current subscriptions continue at the price in force on the day they were taken out. These prices are understood under the conditions of Article 5: in euros, inclusive of all taxes, with no additional tax or fee being charged on top by Vestrelin.

For offers that give access to the indicators on TradingView, the cost of the TradingView subscription required under Article 4, taken out directly with TradingView and not included in Vestrelin's prices, is added to these prices. Without this subscription, the indicators cannot be activated on TradingView.

The price is charged automatically on each renewal date to the payment method registered at the time of subscription. The first renewal date is that of the subscription; the following renewal dates fall on the same date, each month or each year depending on the plan subscribed to. Where that date does not exist in the month or year concerned, in particular for a subscription taken out on the 29th, 30th or 31st, or on 29 February, the payment is collected on the last day of the month concerned. The Customer undertakes to maintain a valid payment method for the entire duration of the subscription.

Vestrelin may change the subscription price for future periods, subject to notice sent by e-mail at least thirty (30) days before the renewal date concerned. The Customer remains free to cancel before that renewal date; failure to cancel constitutes acceptance of the new price.

20.3 Term and automatic renewal

The subscription is concluded with no minimum term commitment. It renews automatically for successive periods of one month or one year depending on the plan subscribed to, until it is cancelled. The non-renewal deadline is the last day of the current period: a cancellation notified no later than that day prevents renewal.

For the yearly plan, Vestrelin sends the Customer a dedicated reminder e-mail before the renewal date, no earlier than three months and no later than one month before the end of the period allowing renewal to be refused, in accordance with Article L215-1 of the French Code de la consommation for the consumers concerned.

20.4 Cancellation and effects

The Customer may cancel his or her subscription at any time, without giving reasons, free of charge and without notice, by one of the following two means:

• online, from the subscription management page of his or her customer account, available at ephore-market.com/account;
• or by e-mail sent to support@ephore-market.com, preferably from the e-mail address used for the order; failing that, by providing the details needed to identify the subscription (surname, first name, e-mail address used for the order, plan subscribed to).

Cancellation is not conditional on the creation of any account or personal area: a Customer who does not have one, or who no longer has access to it, uses the e-mail channel, which produces the same effects.

A cancellation request is deemed received on the date and at the time it is sent by the Customer.

Vestrelin confirms receipt of the request and informs the Customer, on a durable medium and within a reasonable time, of the date on which the subscription ends and of the effects of the cancellation, in accordance with Article L215-1-1 of the French Code de la consommation.

Cancellation takes effect at the end of the current period: access remains active until that date. Subject to Article 7.0 and to the following paragraph, periods that have begun or have already been paid for do not give rise to any refund, in whole or in part.

If a payment is collected despite a cancellation request received no later than the non-renewal deadline referred to in Article 20.3, the period so invoiced is refunded in full within fourteen (14) days, to the payment method used.

At the end of the last period paid for, all access rights opened by the subscription are withdrawn automatically, depending on the offer: indicators on TradingView, trading terminal, training courses, forum, GPT. The end of the subscription confers no vested right to the content, nor any right to retain, copy or export it.

20.5 Payment failure

If a payment fails on the renewal date, further payment attempts are made automatically. If all of them fail, the subscription is cancelled without further formality. The withdrawal of access is governed by the rules of the following paragraph.

Access to the indicators on TradingView ends on the expiry date of the last period paid for, with no extension. Access to the Ephore Market platform may be maintained for a few days beyond that date, to allow the Customer to settle the payment; this technical tolerance constitutes neither an extension of the paid period nor a vested right, and it may end at any time.

The chargeback clause of Article 5 applies to the subscription under the conditions of Article 3 of the Subscription Terms (CGA).

20.6 Right of withdrawal

The subscription concerns the supply of digital content and a digital service whose performance begins immediately after payment. The Customer expressly requests this immediate performance and acknowledges losing his or her right of withdrawal once performance has begun, under the conditions of Article 7.1 of these Terms and, for the Ephore Subscription, of Article 5 of the Subscription Terms (CGA).

The renewal of a period does not constitute a new order and does not open any new withdrawal period.

20.7 No money-back guarantee

The commercial "money-back" guarantee provided for in Article 7 covers exclusively the first yearly period of the Ephore Market Ultimate offer. It applies neither to the trading terminal subscription, nor to the Ephore Subscription, nor to the subsequent yearly periods of the Ultimate offer, in any form and for any amount whatsoever. Subject to Article 7.0 and to the last paragraph of Article 20.4, no refund, in whole or in part, is due in respect of a subscription period that has begun or has already been paid for. The counterpart of the subscription is the ability to cancel at any time, provided for in Article 20.4.

20.8 Licence, liability and interplay with the Subscription Terms (CGA)

The right of use granted to the subscriber is personal, non-assignable and non-transferable, limited to a single TradingView username and to the duration of the subscription, under the conditions of Article 12 of these Terms and, for the Ephore Subscription, of Article 6 of the Subscription Terms (CGA). The applicable limitation of liability is that of Article 10 of these Terms and, for the Ephore Subscription, of Article 10 of the Subscription Terms (CGA).

For the Ephore Subscription, the Subscription Terms (CGA) are authoritative on any matter not addressed in this Article.

20.9 Reproduction of Articles L215-1 to L215-3 and L241-3 of the Code de la consommation

The texts below are reproduced in full pursuant to Article L215-4 of the French Code de la consommation, under which "The provisions of Articles L. 215-1 to L. 215-3 and L. 241-3 shall be reproduced in full in the contracts for the provision of services to which they apply." They are reproduced in the version in force on 4 August 2026.

Article L215-1

Article L215-1-1

Article L215-2

Article L215-3

Article L241-3

Trading terminal

This Article governs access to and use of the trading terminal built into the members' application app.ephore-market.com (the "Terminal", referred to as the "cockpit" in some versions of the application). It supplements the other Articles of these Terms of Sale, which remain applicable; in the event of a contradiction relating to the Terminal, this Article prevails. Any use of the Terminal constitutes acceptance of this Article.

21.1 Nature of the Terminal

The Terminal is interface software made available to the Customer within the application. It allows the Customer to display charts and indicators, to view the status of an account opened by the Customer with the Hyperliquid exchange platform, to prepare orders and to transmit them to that platform from the Customer's browser. It also allows, under the conditions of Article 21.14, the preparation of futures orders and their routing to a prop firm account of the Customer opened on Tradovate or Rithmic. The Terminal is a technical execution tool: it provides no investment advice, no personalised recommendation, no signal, and no account management on behalf of the Customer. The indicators, alerts, levels, projections and calculations displayed are information for educational purposes, generated automatically from market data; they may be incomplete, delayed or erroneous and do not relieve the Customer of any verification. Each order, each parameter and each decision are the sole responsibility of the Customer.

21.2 Non-custodial interface, no regulated service

Vestrelin does not operate the Hyperliquid platform, does not control it, is neither its agent, nor its partner, nor its representative, and is not a party to the transactions the Customer carries out on it. Vestrelin does not hold, receive, keep or transfer any funds, any digital assets or any private keys of the Customer. The Terminal constitutes neither a brokerage, order reception-transmission or order execution service, nor a safekeeping, deposit or custody service, nor portfolio management, nor a payment service, nor any other regulated financial service; Vestrelin provides none of these services, in accordance with Article 4. Use of the Terminal creates no fiduciary, agency, advisory or custodial relationship between Vestrelin and the Customer.

21.3 Access conditions and eligibility

The Terminal is a separate service: it is included neither in the Ultimate offer, nor in the Accompagnement Privé (private coaching programme), nor in any other offer. Access to the Terminal is open: to subscribers of a current Ephore Subscription, for the duration of the periods paid for; and to Customers holding the Ultimate offer or the Accompagnement Privé, whatever the date of their order, during a one-month free trial running from the first time they open the Terminal (the “one-month trial”), then, if they so wish, under the trading terminal subscription at 29,99 € per month governed by Article 20; outside that trial, and as long as they have not taken out that subscription, they keep access to the demo mode described in Article 21.15 only. Pursuant to Articles 2 and 15, Customers of the Ultimate offer and of the Accompagnement Privé who ordered on or after 1 September 2026 and before the version of these Terms of Sale dated 24 September 2026 was put online keep the access to the Terminal that the Terms of Sale in force on the day of their order gave them, with no subscription to take out. Access to the Terminal is also open, during the five days following the creation of their account, to users holding a free account on the application created on or after 14 September 2026 and carrying no purchase (the “free trial”); at the end of those five days, and as long as they have not taken out any offer, they keep the demo mode described in Article 21.15 only. The free trial is limited to one account per person and per connection; Vestrelin may refuse, suspend or withdraw it at any time, under the conditions of Article 21.8, without this giving rise to any compensation. The Terminal collects no payment: every subscription goes through the shop. Its use requires an account opened by the Customer, in his or her own name and under his or her own responsibility, with Hyperliquid, in accordance with the terms specific to that platform, which apply in addition to these Terms and which the Customer declares having read. The Customer declares and warrants:

• that he or she is of legal age and has legal capacity, in accordance with Article 3;
• that he or she acts on his or her own behalf and not on behalf of a third party;
• that he or she does not reside in a country or territory, and is not a person, subject to sanctions or to a restriction on access to Hyperliquid or to derivatives on digital assets;
• that he or she has ensured that the use of the Terminal and the trading of such products are permitted by the laws of his or her country of residence and of any place from which he or she connects;
• that he or she alone bears his or her reporting and tax obligations.

Vestrelin may refuse, suspend or withdraw access to the Terminal from any Customer who does not, or no longer, meets these conditions, without this giving rise to any right to a refund.

21.4 Operation: in-browser signing, agent key, no custody

The Terminal opens in read-only mode. The Customer arms it himself or herself by creating, in his or her browser, an agent key which he or she approves with his or her own signature. This agent key can sign orders; it does not allow funds to be withdrawn, by virtue of the separation of powers specific to Hyperliquid. The main key of the Customer's wallet is never requested, entered or transmitted to Vestrelin. Orders are signed in the Customer's browser and transmitted directly to Hyperliquid; no order passes through a Vestrelin server. The Customer may revoke the agent key at any time from Hyperliquid.

The Customer is solely responsible for the safekeeping of his or her keys, codes, wallet, hardware, browser and session, as well as for the accuracy of the addresses and parameters he or she enters. Any transaction signed from the Customer's browser, or by a person having access to it, is deemed to have been carried out by the Customer.

21.5 Execution assistance functions

The Terminal offers execution assistance functions configured by the Customer, in particular the calculation of position size from a risk amount the Customer sets, the automatic placement of a target order and a stop order when entering a position, the automatic move of the stop to the entry point at a risk multiple the Customer chooses, and an emergency close button for all positions and orders. These functions carry out the Customer's instructions, according to his or her parameters; they constitute neither a trading robot, nor management on behalf of third parties, nor a guarantee of protection. Depending on the function, the instruction is carried by Hyperliquid once the order has been transmitted, or depends on the Customer's browser remaining open and connected; the Customer checks on Hyperliquid the actual status of his or her orders and positions.

No guarantee is given as to the triggering of these functions or as to the execution price obtained: price gaps, insufficient liquidity, latency, rejection or queuing on the platform side, loss of connection, closing of the tab, the device going to sleep or unavailability of Hyperliquid may prevent, delay or degrade an execution. The Terminal's safeguards (confirmation, maximum size, order refusal when the data feed is interrupted) are local to the Customer's browser and protect only what they can see; there is no server-side loss cap. The Customer remains responsible for monitoring his or her positions and maintains direct access to Hyperliquid in order to intervene if the Terminal is unavailable.

21.6 Commission of 0,02 %

Each order transmitted by the Terminal and executed carries a commission of 0,02 % of the notional amount executed, collected by Hyperliquid at the time of execution and paid over to Vestrelin through Hyperliquid's "builder codes" mechanism. This commission is in addition to Hyperliquid's own fees, which Vestrelin neither sets nor collects. The Customer explicitly approves it, by his or her signature, before any first order; this approval sets a cap which the commission cannot exceed and which the Customer may revoke at any time from Hyperliquid. Without this approval, the Terminal transmits no order; Hyperliquid's official application remains accessible to the Customer without this commission. Any change to the rate for the future requires a new approval from the Customer. The commissions and fees collected by Hyperliquid, including the commission referred to in this Article, are definitively earned and are never refundable by Vestrelin, including where the guarantee or the right provided for in Article 7 is exercised. This commission does not apply to orders routed to a prop firm account (Article 21.14).

21.7 Risks and Customer declarations

The Customer acknowledges that trading leveraged derivatives on digital assets involves a high level of risk and may result in the rapid loss of all sums committed, in particular through forced liquidation; that volatility, price gaps, market interruptions, failures of the platform, its smart contracts, its oracles or its network, and input errors are beyond Vestrelin's control; that the Terminal reduces none of these risks; that, outside the demo mode described in Article 21.15, any armed order commits real money; that past performance, whether real or simulated, is not indicative of future performance. The Customer declares that he or she has the necessary knowledge, commits only sums whose total loss he or she can bear, and acts under his or her sole responsibility, in accordance with Articles 4 and 10.

21.8 Availability, changes and suspension

The Terminal is provided as is and subject to availability, with no guarantee of continuity, timeliness, accuracy of market data or absence of errors, within the limits of Article 9. The prices displayed may differ from the execution prices. The Terminal depends on third-party services (Hyperliquid, Tradovate, Rithmic, bridge service, data providers, hosting providers, browsers) whose interruptions, changes, limitations or decisions are not attributable to Vestrelin. Vestrelin may at any time change the Terminal, add, modify or remove functions, carry out maintenance operations and suspend all or part of the service, in particular for reasons of security, compliance, abuse or regulatory constraint, without these measures giving rise to any right to compensation. Changes that affect the Customer are announced in the application or on the forum.

21.9 Customer obligations and prohibited uses

The Customer uses the Terminal personally, in good faith and in compliance with the law. In particular, the Customer is prohibited from:

• sharing, lending, assigning or reselling his or her access;
• using the Terminal on behalf of a third party or for the purpose of managing third-party funds;
• circumventing the Terminal's safeguards, limits or controls;
• connecting a program, robot, script or external service to the Terminal, or automating its use, without Vestrelin's written consent;
• copying, decompiling, disassembling, reverse engineering or extracting all or part of the Terminal, its indicators, its code or its data;
• using the Terminal for market manipulation, money laundering, sanctions evasion or any unlawful activity;
• compromising the security, integrity or availability of the service.

Any breach entitles Vestrelin to suspend or withdraw access to the Terminal and to the services immediately, without notice or refund, without prejudice to any damages. The Customer indemnifies Vestrelin against any claim, penalty, cost or damage resulting from a use of the Terminal contrary to this Article, to the laws applicable to the Customer or to Hyperliquid's terms.

21.10 Liability

Vestrelin is not liable for trading losses, lost profits, liquidations, orders not transmitted, rejected, executed late or at a price different from the expected one, the consequences of an interruption of the Terminal or of a third-party service, the acts, decisions or failures of Hyperliquid, the loss, theft or unauthorised use of the Customer's keys, codes or devices, or for indirect damages. To the extent permitted by law, Vestrelin's total liability in respect of the Terminal is limited to the amount actually paid by the Customer for the offer concerned, under the conditions of Article 10. Nothing in this Article excludes or limits any liability that cannot legally be excluded or limited with respect to consumers, nor Vestrelin's liability in the event of gross negligence or wilful misconduct.

21.11 Intellectual property

The Terminal, its code, its interface, its indicators, its calculations, its documentation and its trademarks are and remain the exclusive property of Vestrelin, under the conditions of Article 12. The Customer obtains a personal, non-exclusive, non-assignable and non-transferable right of use, limited to the duration of his or her access. No right is granted over Hyperliquid, which is the responsibility of its operator.

21.12 Data and settings

The Terminal settings and the agent key are stored in the Customer's browser, under his or her responsibility; if they are erased (browser reset, device changed), they must be recreated. The account data displayed is read from Hyperliquid. Personal data is processed under the conditions of Article 14 and of the privacy policy.

21.13 End of access

At the end of access to the offer concerned, or in the event of suspension or withdrawal, the Terminal ceases to be accessible, subject to the demo mode provided for in Article 21.15, which may remain open to the Customer. The Customer's positions and orders remain on Hyperliquid, where the Customer manages them directly; Vestrelin does not close them and is not answerable for them. The agent key and the commission approval may be revoked by the Customer from Hyperliquid; it is the Customer's responsibility to do so.

21.14 Prop firm accounts: futures, Tradovate and Rithmic platforms, bridge service

The Terminal also allows the Customer to prepare futures orders and to have them routed to an account opened by the Customer, in his or her own name and under his or her own responsibility, with a trader funding company ("prop firm"), on the Tradovate platform or on the Rithmic platform. This routing is carried out through a bridge service operated by a third party (PickMyTrade), to which the Customer subscribes directly and whose terms the Customer accepts. These orders are not signed in the browser within the meaning of Article 21.4: they are transmitted to the bridge service, which relays them to the Customer's platform. The access token for the bridge service is entered and stored in the Customer's browser, in the same way as his or her agent key; it is transmitted only to the bridge service, in the body of the Customer's orders, and never to Vestrelin.

Vestrelin does not operate, control or represent the prop firm, the platform or the bridge service; it is not a party to any of the contracts concluded by the Customer with them and holds no funds, no credentials and no token of the Customer. Articles 21.2, 21.5, 21.7, 21.8, 21.9, 21.10 and 21.11 apply to these transactions, with the prop firm, the platform and the bridge service taking the place of Hyperliquid. Any order routed to a prop firm account commits real money, or the evaluation or funded capital made available by the prop firm under its own rules (loss limits, drawdown, consistency rules, maximum sizes, trading hours, permitted products), which the Customer alone is responsible for knowing, monitoring and complying with; the Terminal does not enforce them on the Customer's behalf, and Vestrelin is not liable for any breach of these rules, nor for the closure, suspension or loss of a prop firm account, nor for the evaluation fees incurred.

The futures market data displayed by the Terminal may be delayed, partial or unavailable, in particular during the roll-out phases of this function; the Customer checks on his or her platform the actual status of his or her orders, positions and account. No Vestrelin commission is charged on orders routed to a prop firm account; the fees of the prop firm, the platform, the bridge service and the market data remain payable by the Customer to the third parties concerned.

21.15 Demo mode

The Terminal may offer a demo mode. In that mode, the Terminal simulates, in the Customer's browser, a fictitious account with a fictitious starting equity, from market data that is delayed or live depending on the Customer's offer; no order is sent to Hyperliquid, to a platform or to a bridge service, and no funds are committed. The demo mode is an educational tool: it does not reproduce all the conditions of a real market (in particular liquidation, funding, slippage, order book depth and execution latency), its fees are approximate, and the results it displays are simulated, with no predictive value, within the meaning of Article 21.7. The demo account, its history and its settings are kept in the Customer's browser, under his or her responsibility, under the conditions of Article 21.12; Vestrelin does not keep them and may reset them, change their rules or withdraw the demo mode at any time, under the conditions of Article 21.8.

The demo mode is available to the Customers referred to in Article 21.3 according to their offer, including, for Customers benefiting from the one-month trial provided for in Article 21.3, before the start and after the end of that trial, without its use consuming it, as well as to users holding a free account on the application, before, during and after the five-day free trial provided for in Article 21.3, to whom this Article applies for that use. Depending on the offer, the market data served in demo mode may be delayed, limited to certain assets or timeframes, or deprived of certain functions; the application says so. The demo mode gives access neither to the transmission of real orders, nor to live market data, nor to the functions reserved for a current paid access; it constitutes neither advice, nor a recommendation, nor a guarantee of any result under real conditions. Articles 21.9, 21.10 and 21.11 apply to the demo mode.