Margin Trading Terms and Conditions

Rain MENA FZE: Margin Trading Terms and Conditions

Version: v6.2 Last updated: 13 August 2026.

Governed by the VARA Exchange Services Rulebook Part IV (Margin Trading Rules), cumulatively with the Broker-Dealer Rulebook Part III.

Commencement and licensing status. Rain MENA FZE has received In-Principle Approval from the Virtual Assets Regulatory Authority ("VARA") under reference IPA/26/04/001 in respect of Broker-Dealer Services and Exchange Services, including Margin Trading on a spot basis. Rain MENA FZE does not yet hold the corresponding VA Activity Licence. These terms, and the Margin Trading Services they govern, take effect upon and are conditional on the grant of that VA Activity Licence. Until the Licence is granted, no Margin Trading Services are offered or provided. References in these terms to activities or assets "approved by", "regulated by", "authorised by" or "licensed by" VARA are to be read as taking effect on grant of the Licence.

1. Margin Trading Risk Disclosure

Margin trading carries a high degree of risk. Before using the Margin Trading Services, you must carefully read and understand the following risks:

1.1 Risk of Loss of Funds. You may lose all or part of the funds deposited in your Margin Trading Account. Margin trading involves leverage or borrowing, which can magnify both gains and losses. Leveraged positions accentuate market swings, and you could experience a complete loss of your investment.

1.2 Additional Margin Requirements. The Company may request that you add Virtual Assets and/or funds to your Margin Trading Account if the Maintenance Margin falls below the prescribed levels or if the Company increases Maintenance Margin requirements, at the Company's sole discretion or pursuant to Applicable Laws or regulatory requirements.

1.3 Right of the Company to Liquidate Assets. The Company has the right to sell Virtual Assets in your Margin Trading Account if the Maintenance Margin falls below the percentage specified in this Margin Trading Agreement. This right is exercised only in accordance with, and is subordinate to, the deterministic escalation and Forced Liquidation process in Clause 9.5A. On a Forced Liquidation the Company closes out your position in full (Clauses 9.5A and 9.5.7); nothing in this Clause confers a separate or wider partial-sale right.

1.4 Timing and Method of Liquidation. The Company may sell the Virtual Assets in your Margin Trading Account at such times and in such manner as the Company determines in accordance with this Margin Trading Agreement and the Margin Trading Rules published on the Company's website. In a liquidation event, you cannot choose which assets are sold. This discretion is subordinate to, and is exercised only consistently with, the deterministic escalation and Forced Liquidation process in Clause 9.5A, under which a Forced Liquidation is a full close-out of your position.

1.5 Liability Beyond Initial Deposit (Non-Retail Clients). If you are a Non-Retail Client, it is possible to lose more than your initially deposited assets: your losses may exceed the margin you have posted, and the Company may demand additional margin or interest payments on short notice. If you are a Retail Investor, your liability is limited to the assets in your Margin Trading Account under Clause 9.6(a) and you cannot lose more than those assets. Failure by a Non-Retail Client to meet a margin demand may result in liquidation in accordance with the process in Clause 9.5.

1.6 Remediation Period for Margin Calls. Following a Margin Call, you are entitled to a fixed remediation period of six (6) hours in which to restore your Margin Trading Account to the Maintenance Margin, as set out in Clause 9.5. You are not entitled to any further or additional grace period. If your ownership percentage falls to or below the Liquidation Threshold (5%), Forced Liquidation occurs automatically, without any remediation period and without further notice.

1.7 Changing Margin Requirements. The Company may adjust maintenance requirements from time to time, with prior approval from VARA before implementation in accordance with Clause 12.4. You must maintain sufficient margin to cover the market value of borrowed assets. If your margin falls short due to market movements or higher maintenance requirements, a Margin Call may be issued, requiring you to provide additional margin promptly. VARA may compel the Company to raise margins, suspend certain margin trading products or clients, or close open positions.

1.8 Additional Operational and Regulatory Risks. Using the Company's Margin Trading Services may expose you to further risks, including: (a) changes in laws or regulations that adversely affect the transfer, exchange, or value of Virtual Assets; (b) unavailability of margin services due to legal or regulatory developments, which may cause losses or liabilities; and (c) system failures in order-routing, execution, matching, or settlement platforms, as well as internet connectivity issues, which may delay or prevent proper execution of trades.

1.9 Acknowledgment and Acceptance of Risks. By opting in for Margin Trading Services, you acknowledge and accept all associated risks described above. You confirm that you will not enter into transactions where potential losses exceed your financial capacity. You agree to take necessary measures to limit your exposure if your financial situation deteriorates. You understand that the Company does not provide investment advice and will not be held responsible for any costs or losses you incur.

For more information about the risks of trading in Virtual Assets and using the Company's Services, please refer to the Company's Public Disclosures available on our website. For a plain-language explanation of how key risk scenarios operate in practice, please refer to the Client Summary Document (Margin Trading Services: At a Glance).

2. Introduction

These Margin Trading Terms (the "Addendum") serve as an addendum to the Client Agreement and describe terms and conditions applying to margin trading activities to be offered by Rain MENA FZE under its Broker-Dealer Services and Exchange Services VA Activity Licences, once granted by VARA (In-Principle Approval reference IPA/26/04/001). The Margin Trading Services are governed by the VARA Exchange Services Rulebook Part IV (Margin Trading Rules), cumulatively with the Broker-Dealer Rulebook Part III, and the contents of this Addendum are provided in accordance with Rule IV.E.1 and are subject to VARA approval under Rule IV.B.1(a).

All provisions and clauses set out in the Client Agreement (except where expressly varied) are incorporated by reference and have the same validity and effect as if reproduced in full in this Addendum.

The Client Agreement and Addendum are related documents that are intended to be executed together. Access to Margin Trading Services requires your express consent to both documents, given by a separate and positive act of acceptance of this Addendum at the point of onboarding for Margin Trading Services, in addition to your prior acceptance of the Client Agreement. By expressly accepting this Addendum, you confirm that you have read, understood, and consent to both this Addendum and the Client Agreement. For the avoidance of doubt, acceptance of the Client Agreement alone does not constitute acceptance of this Addendum.

Prior to accepting this Addendum, you are strongly encouraged to read the Client Summary Document, which provides a plain-language explanation of the key terms, margin requirements, escalation procedures, eligible assets, and risks associated with the Margin Trading Services.

3. Acceptance of this Addendum

Your acceptance of this Addendum requires a separate and express act of consent, distinct from and in addition to your acceptance of the Client Agreement. You will be required to expressly accept this Addendum at the point of applying for Margin Trading Services, by means of a positive affirmative action, such as a separate click-through acceptance, checkbox confirmation, or equivalent mechanism presented by the Company during the Margin Trading onboarding process.

By completing such affirmative acceptance, you acknowledge and agree that: (a) you have read, understood, and expressly consent to this Addendum and the Client Agreement as related documents intended to be executed together; (b) you will be bound by and comply with this Addendum as updated and amended from time to time; (c) this Addendum governs your access to and use of Margin Trading Services; (d) your acceptance of the Client Agreement alone is not, and shall not be construed as, acceptance of this Addendum; and (e) you have been provided with, and have had the opportunity to read, the Client Summary Document prior to giving your consent to this Addendum.

4. Updates

The Company may make changes to this Addendum (or any terms or information incorporated by reference) or the Client Agreement at any time under Clause 32 (Variation) of the Client Agreement. Continued use of Margin Trading Services constitutes acceptance of any changes. You acknowledge and agree that any updates, changes or amendments will apply to all existing and future transactions between you and the Company.

5. Definitions

"Amount Owing" means the total of all sums that at any time are payable, due but not yet payable, or contingently owed by you to the Company in connection with Margin Trading Services, including any credit drawn under those Services.

"Applicable Margin Fees" means any fees applicable to Margin Trading Services as set out in Schedule 1 to this Addendum and the Disclosure: Fees and Charges (incl. Margin) page on our website.

"Client Summary Document" means the document titled "Margin Trading Services: At a Glance" published by the Company on its website, as updated from time to time.

"Collateral" means the Virtual Assets and other assets you hold in your Margin Trading Account that are committed to margin and pledged to the Company as Security under Clause 9.4A. Collateral does not include, and is ring-fenced from, any Client Virtual Assets or Client Money held for you in general segregated custody outside the Margin Trading Account, consistent with Clause 9.1(l) and Rule IV.C.1(b) and (c).

"Collateral Requirement" means any obligation on you to provide Collateral as specified in Clause 9.

"Communication Method" means: (a) the Company's website; (b) the Company's platform; and (c) any other communication method notified by the Company as appropriate for submitting Orders.

"Composite Mark Price" or "Mark Price" means the reference price used for margin, valuation and liquidation, derived from a volume-weighted composite index of major spot exchanges (currently Coinbase, Kraken, Bitstamp, Binance, OKX and Bybit) over a rolling 30-second window, excluding outliers deviating by more than plus or minus 1.5%, as published and reviewed quarterly on the Company's website. References in this Addendum to the "exchange mark price" mean the Composite Mark Price.

"Culpable Default" means any conduct that the Company reasonably suspects involves a breach of Clause 24 (Prohibited Use) of the Client Agreement, including but not limited to: (a) use of Services in a manner harmful to public interests, morals or others' rights; (b) market manipulation (e.g. pump-and-dump, wash-trading, self-trading, front-running, quote-stuffing, spoofing or layering); (c) fraudulent activities or reasonable suspicion thereof; or (d) creating any security interest over Fiat Currency or Virtual Assets in Account without the Company's prior written consent.

"Early Warning Threshold" means 15% (or such other percentage as the Company may determine from time to time, acting in the best interests of its clients), being the ownership percentage level at which the Company provides at least one early warning notification to the client that their Margin Trading Account is at risk of falling below the required level of Maintenance Margin.

"Encumbrance" means any of the following (or any agreement to create the same) over Virtual Assets: (a) a security interest (e.g. mortgage, charge, lien, pledge, retention of title, trust); (b) any right or arrangement granting priority over general creditors (including set-off); (c) any third-party land-related right (e.g. easement, lease, profit à prendre); or (d) any other claim or enforcement right arising from a judgment.

"Execution" means the matching of two Orders, with "Executed" and "Executed Orders" having corresponding meanings.

"Forced Liquidation" means the events described in Clause 9.5.7.

"Initial Margin" means the minimum value of assets which must be deposited by you in the Margin Trading Account, or otherwise available in the Margin Trading Account but not committed to an existing Margin Trading position, prior to opening any new Margin Trading position, being a uniform twenty percent (20%) of the notional position value of the new Margin Trading position for all client classes (Retail Investors, Qualified Investors and Institutional Investors), or such greater amount as VARA may require for a specific VASP, Virtual Asset or client from time to time. (See Clause 7.2 on leverage.)

"Liquidated Assets" means any margin or other assets that have been or may become subject to liquidation.

"Maintenance Margin" means the value of assets which must be deposited by you in the Margin Trading Account, or otherwise available in the Margin Trading Account but not committed to an existing Margin Trading position, to keep a Margin Trading position open. The Company calculates Maintenance Margin as: Maintenance Margin Percentage = (Total Client Assets in Margin Trading Account / Total Position Value) x 100%, where Total Client Assets and Total Position Value are valued at current market prices using the Composite Mark Price. The required Maintenance Margin threshold is 10% (or such other percentage as the Company may determine from time to time, with prior approval from VARA before implementation in accordance with Clause 12.4).

"Manifest Error" has the meaning given in Clause 9.7.1.

"Margin" means any amount of Virtual Assets required as Collateral for a leveraged position.

"Margin Call" means an event described in Clause 9.5.

"Margin Concentration Event" means an occurrence where the Company, in its sole discretion, determines that Margin in any Account is overly concentrated in certain Virtual Assets that are illiquid or carry particular market risks, and that such concentration may expose the Company or other users to excessive risk.

"Margin Confirmation" means a written or electronic notice confirming the details of Margin Trading Services, including applicable interest rates and Margin Credit Limit.

"Margin Credit Limit" means the amount and type of Virtual Asset credit the Company agrees to extend to you under Margin Trading Services, based on posted Collateral and other factors determined by the Company in its sole discretion.

"Margin Trading Account" means the type of Account the Company opens for you, through which you trade Virtual Assets on margin.

"Margin Trading Services" means the margin-based trading services the Company may, at its discretion, offer you under this Addendum, allowing you to buy or sell Virtual Assets on the platform on a spot basis.

"Market Concentration Event" means an occurrence where the Company reasonably determines that you or any group acting with you hold a long or short position in one or more Virtual Assets, relative to their circulating supply, that (a) gives you or the group significant influence over the Asset's price, or (b) endangers the Company or other users by concentrating risk.

"Negative Balance" means the amount (if any) by which the liabilities in a Margin Trading Account exceed the value of the Collateral and other assets in that Account following a Forced Liquidation, valued at the Mark Price.

"Non-Retail Client" means a client classified as a Qualified Investor or an Institutional Investor under Clause 7.2. For the avoidance of doubt, Rain MENA FZE will, on grant of its VA Activity Licences, provide Margin Trading Services on a spot basis only under its Broker-Dealer Services and Exchange Services VA Activity Licences, and does not provide lending, borrowing or portfolio-margin services. Should Rain MENA FZE become authorised for, and offer, any such service in future, this definition would apply to clients of that service if and when it is offered.

"Notional Position Value" means Number of Units of Virtual Asset x Current Market Price.

"Retail Investor" has the meaning given in the Client Agreement and Clause 7.2.

"Security" means any Encumbrance granted in favour of the Company to secure obligations under Margin Trading Services and the Agreement, including any Collateral and the Security Interest under Clause 9.4A.

"Client Agreement" means the document titled and published by the Company governing use of its services (Rain MENA FZE Client Agreement).

"Transactions" means buying, selling, or otherwise trading Virtual Assets, other assets, or Fiat Currencies, and depositing or withdrawing Virtual Assets or Fiat Currency into or out of Account, as permitted by the Company on its Platform.

"Valuation Period" means the period beginning on the date a liquidation occurs in respect of a Default and ending seven (7) calendar days after that liquidation, unless VARA approves a longer period, in which case it ends on the later date the Company selects in good faith after considering relevant market data, liquidity, costs and other factors, within the period VARA has approved. The Company may, acting in good faith, conclude the Valuation Period earlier.

6. Priority

In the event of any inconsistency between the Client Agreement and this Addendum, including but not limited to as a result of the application of any Applicable Laws, the Client Agreement shall prevail.

7. Margin Eligibility, Suitability and Client Classification

7.1 Suitability Assessment. Prior to opening a Margin Trading Account, the Company must obtain information from you to determine whether the Margin Trading Service is suitable for you, including information on your financial position (including financial solvency), investment objectives, risk appetite, and knowledge and experience in trading in Virtual Asset markets. Certain products and services may not (or not yet) be available to all users due to restrictions under Applicable Laws (the "Suitability Assessment").

7.2 Client Classification and Leverage. On the basis of information provided during the Margin Suitability Test, the Company will categorise you as a Retail Investor, a Qualified Investor or an Institutional Investor. The range of available Margin Trading Services may vary according to classification. Maximum leverage is set by the Company's margin policy in accordance with Rule IV.E.1(f), as approved by VARA under Rule IV.B.1(a). The Company currently applies a uniform Initial Margin of twenty percent (20%) of notional position value, being a maximum leverage of five times (5x), to all client classes. The Company may in future make higher leverage available to Qualified Investors and Institutional Investors, subject to and only to the extent permitted by the Company's VARA-authorised margin / leverage policy and the client's Suitability Assessment; no higher-leverage tier applies unless and until so authorised and notified.

7.3 Denial of Access. Following the Margin Suitability Test, if the Company concludes that Margin Services are not appropriate for you in accordance with its obligations under Applicable Law and its internal policies and procedures, or if you fail to furnish information necessary to complete the Margin Suitability Test, you will be denied access to Margin Services.

7.4 Amendment of Qualifying Criteria. The Company reserves the right to amend its qualifying criteria for the use of Margin Trading Services at any time.

7.5 Suspension or Termination for Non-Qualification. Should you cease to meet the relevant qualifying criteria at any time after commencing use of Margin Trading Services, the Company may, at its sole and absolute discretion, suspend or terminate your ability to access and use Margin Services, with or without prior notice. You acknowledge and accept all risks, costs and losses that may arise from such suspension or termination, to the fullest extent permitted by Applicable Law.

7.6 Notification of Changes. You must promptly inform the Company of any change in circumstances affecting eligibility criteria compliance, and may be held liable for costs or losses incurred by the Company due to failure to comply with this undertaking.

8. Termination, Liquidation and Events of Default

8.1 Termination Rights. You have the right to terminate the Addendum in accordance with Clauses 17.4 and 17.5 (Account Termination/Closure) of the Client Agreement, with additional conditions applicable to Margin Trading Accounts.

8.2 Events of Default. The following occurrences each constitute a "Default":

8.2.1 Margin Requirements: Collateral in the Margin Trading Account falling below the margin requirements prescribed by the Company.

8.2.2 Misrepresentations: Any representation, warranty, agreement or undertaking given to the Company (under the Addendum, Client Agreement, any Agreement, or material statement) becoming untrue, inaccurate, incomplete or misleading, with failure to correct the position as soon as reasonably practicable.

8.2.3 Failure to Perform Obligations: Failure to comply with or perform any obligation under the Addendum, Client Agreement, any Agreement, or in respect of any Margin Trading Account (including any payment or delivery due).

8.2.4 Legal Breaches: Breach of, or investigation for breach of, any Applicable Law by any relevant authority.

8.2.5 Documentation Failures: Failure to promptly supply documentation requested for KYC checks (including identity, address, legal capacity or classification), credit or AML checks, or other internal assessments, or failure to satisfy those checks or assessments.

8.2.6 Individual Insolvency: For natural persons: death, bankruptcy, becoming of unsound mind or otherwise incapable of meeting debts as they fall due, or commencement of bankruptcy or insolvency proceedings.

8.2.7 Partnership Issues: For partnerships: any partner dying, becoming bankrupt or of unsound mind, commencement of insolvency or dissolution proceedings in respect of any partner, or alteration of the partnership's constitution without the Company's consent.

8.2.8 Corporate Insolvency: For corporations: inability to pay debts as they fall due, or commencement of insolvency, receivership, judicial management or similar proceedings.

8.2.9 Legal Proceedings: Launch of any claim, investigation, action or proceeding (including market-abuse or criminal investigations) against you, or any person seeking to enforce a security interest over your assets.

8.2.10 Creditor Arrangements: Convening a creditors' meeting, proposing any compromise or arrangement with creditors, or making any assignment for their benefit.

8.2.11 Creditworthiness Concerns: The Company having reasonable concerns regarding your creditworthiness, financial position or identity verification (including residence or where you access the Margin Trading Services from).

8.2.12 Abusive Treatment: Treatment of any Company representative or other user abusively, in the Company's sole discretion.

8.2.13 Contact Failure: The Company being unable to contact you within 24 hours by reasonable means and known contact details, unless alternative arrangements have been agreed.

8.2.14 Protection of Company Rights: The Company reasonably determines that action is necessary to protect its rights or interests under any Account or Margin Trading Account, or in its relationship with you.

8.2.15 Concentration Events: Occurrence of a Market Concentration Event and/or a Margin Concentration Event.

8.2.16 Anticipated Defaults: The Company reasonably believes that any of the events of Default in Clauses 8.2.1 to 8.2.15 are likely to occur and that action under Section 8.3 or Clause 17 of the Client Agreement is necessary or desirable to protect its interests or those of its other clients.

8.2.17 Fraud and Misconduct: A credible allegation of fraud, misconduct, embezzlement, money-laundering, insider-trading, market manipulation, market abuse or other material illegality or regulatory breach made against you (by the Company or a third party), or the Company otherwise believing you have used the Margin Trading Services with improper intent, which in the Company's good-faith and commercially reasonable view could harm its reputation, undermine market integrity or cause losses to other clients.

8.3 Company Remedies Upon Default. Without prejudice to any other right of the Company, upon or at any time after a Default and while it continues, the Company may (but need not) immediately, without notice, exercise any one or more of the following remedies:

8.3.1 Account Suspension/Termination: suspend, restrict, cancel or terminate the Margin Trading Account, prohibit use of any or all Company Services, and accelerate all liabilities.

8.3.2 Liquidation: in good faith and based on market conditions, liquidity and portfolio health, sell, dispose of, transfer, appropriate, apply or assume control of any or all Margin and, in the case of a Culpable Default, any other assets (a "Liquidation"), and apply net proceeds to your obligations. This power is subordinate to, and is exercised only consistently with, the deterministic escalation and Forced Liquidation process in Clause 9.5A.

8.3.3 Set-off: Set off any amounts the Company owes you against any amounts you owe the Company (whether matured, contingent, Virtual Asset or Fiat Currency), converting between currencies or assets at a commercially reasonable rate where necessary, without prejudice to any other set-off, lien or similar right of the Company. This set-off right applies to your own accounts and obligations with Rain MENA FZE only and does not extend to any other Rain group entity.

8.3.4 Demand for Shortfall (Non-Retail Clients): Where you are a Non-Retail Client, demand payment of any shortfall remaining after applying Clauses 8.3.2 and 8.3.3. The Company will not demand payment of any shortfall from a Retail Investor, whose liability is limited under Clause 9.6(a).

8.3.5 Protective Actions: take or omit any action the Company reasonably considers necessary to protect itself or its other users.

8.3.6 Other Powers: exercise any other authority or power conferred by the Addendum, the Client Agreement, or Applicable Law.

8.4 Valuation. Assets closed out on a Forced Liquidation under Clause 9.5A and Clause 9.5.7 are valued at the Composite Mark Price at the time of close-out, and this Clause 8.4 does not apply to them. Where the Company liquidates assets otherwise than on a Forced Liquidation, and only where those assets have no Composite Mark Price because they are not quoted on the reference spot exchanges, the Company may value them in good faith over a Valuation Period, at the conclusion of which the Company will notify you of the final valuation.

8.5 Liquidation Acknowledgments. You acknowledge that in any Liquidation you have no right to select which assets are sold, nor to influence the order, manner or price of sale, and the Company shall not be liable for any loss incurred in connection with any Liquidation, even if delayed or not effected.

8.6 Transaction Reversal. Without limiting Clause 8.3, if the Company determines you are in Default under Clause 8.2.15, it may unwind or reverse any Transactions, freeze any sums in your Account and/or deduct any sums related to those Transactions.

8.7 Recovery Costs. You will bear all reasonable costs and expenses (including legal fees) incurred by the Company in recovering any unpaid deficiency remaining after the exercise of rights under Clauses 8.3.2 and 8.3.3.

8.8 Authorisation to Debit Accounts. Upon any Default or Liquidation, whether or not a demand has been made, you authorise the Company to debit any of your own Accounts with Rain MENA FZE for all amounts required to satisfy your obligations to the Company.

8.9 VARA's Powers to Instruct the Company. Notwithstanding the Company's authorisation from VARA for the provision of Margin Trading Services once its VA Activity Licence is granted, VARA has the power (Rule IV.B.3) to instruct the Company to take any of the following actions, and the Company must comply: (a) suspending Margin Trading Services for specified Virtual Assets or clients; (b) closing existing client positions; and (c) increasing Initial Margin and/or Maintenance Margin requirements. The Company will implement any such instructions immediately upon receipt and will notify affected clients. The Company shall not be liable for any losses you may incur as a result of complying with VARA's instructions.

9. Margin Trading Services

9.1 Discretionary Service. Subject to the Agreement and at the Company's sole discretion, the Company may make the Margin Trading Services available to you only if: (a) the Company has approved your Suitability Assessment and opened a Margin Trading Account; (b) you have submitted any additional applications, documents, information or consents the Company requires; (c) the Company has obtained any further information it deems necessary; (d) you agree to pay all Applicable Margin Fees and interest; (e) no Event of Default has occurred or is likely to occur; (f) providing you the Margin Trading Services will not cause you to exceed any trading or position limits; (g) the Margin Trading Services are available in your jurisdiction; (h) the Margin Trading Services apply only to the Virtual Asset(s) specified in the Client Summary Document; (i) you use the Margin Trading Services in compliance with all Applicable Law; (j) all margined transactions are recorded in your Margin Trading Account; (k) the Company may, at any time and in its sole discretion, recall or terminate the Margin Trading Services and/or limit withdrawals; (l) Account Segregation (Rule IV.C.1(b) and (c)): the Company must ensure that your Margin Trading Account is segregated from all other trading accounts, and will only use the assets within your Margin Trading Account as collateral, as per this Margin Trading Agreement. All Margin Trading Accounts are ring-fenced from spot trading wallets. Client assets used as collateral are held in segregated omnibus wallets, not re-hypothecated or pledged to third parties. Daily reconciliation is performed by Finance and Compliance functions; (m) Prohibition on Cross-Client Funding (Rule IV.C.1(d)): the Company must not utilise the funds of any client to provide the facilities of Margin Trading to another client, even if the client's consent has been obtained; (n) Initial Margin Deposit Requirement: the Company must ensure that you have deposited the Initial Margin prior to the purchase of any Virtual Assets financed on Margin; (o) Client-Level Risk Monitoring: if you have more than one Margin Trading Account, the Company must ensure that all risk limits are monitored and maintained at the client level.

9.2 Margin Trading Services and Credit Limits. (a) The Company may assign you a Margin Credit Limit. (b) You must at all times comply with any borrowing, leverage or other limits and any other parameters communicated to you. (c) You may not enter into any transaction that would exceed those limits. (d) If you breach Clauses 9.2(b) or 9.2(c), you authorise the Company to close out any or all of your open Orders or positions, terminate the Margin Trading Services, and/or realise any Collateral or Security without further notice.

9.3 Fees and Interest. 9.3.1 You agree to pay all applicable Margin Fees. 9.3.2 Interest accrues hourly from (and including) the hour when credit is advanced, is added to the Amount Owing at each hour's end, and is payable immediately. 9.3.3 The applicable interest rates are available on the Company's website. 9.3.4 All fees and interest are deducted from the Margin Trading Account. 9.3.5 If you repay more than the Amount Owing, the Company is not required to pay interest or fees on the excess.

9.4 Opening a Margined Position.

9.4.1 Once provided with the Margin Trading Services, you may submit margined Orders, provided you first deposit the full Collateral or minimum Margin Balance required for Execution.

9.4.2 Acceptable Collateral Types. The Company may only accept the following types of collateral in your Margin Trading Account, being the eligible collateral permitted under Rule IV.D.2: (a) the following Virtual Assets: Bitcoin (BTC); Ethereum (ETH); Solana (SOL); Ripple (XRP); (b) fiat currency; and (c) Virtual Assets referencing USD or AED, as approved by VARA.

9.4.3 Additional Acceptable Collateral in Specific Circumstances. Notwithstanding Clause 9.4.2, and only in the circumstances permitted under Rule IV.D.3, the Company may accept other Virtual Assets as collateral in your Margin Trading Account where: (a) there is a continuing fall in the market value of the Virtual Asset financed on Margin; or (b) trading in the Virtual Asset financed on Margin is suspended or discontinued for more than seven (7) Working Days or such other period prescribed by VARA. Any Virtual Asset accepted under this Clause 9.4.3 must satisfy the same liquidity standard as Clause 9.4.5, must be approved in advance by the Company's Risk and Compliance functions on a per-asset basis, and is valued and subject to haircut in accordance with Clause 9.4.6. The Company does not accept any form of collateral other than the Virtual Assets and fiat currency described in Clauses 9.4.2 and this Clause 9.4.3.

9.4.4 Approved Virtual Assets. The Company limits Virtual Assets that may be financed on Margin and accepted as collateral to Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and USD / AED-referenced Virtual Assets as approved by VARA. These Virtual Assets have been assessed as meeting the liquidity requirements to ensure they can be liquidated within a reasonable timeframe.

9.4.5 Liquidity of Collateral. The Company ensures, and is able to demonstrate to VARA upon request, that Virtual Assets collected as collateral are liquid and can be liquidated within a reasonable timeframe.

9.4.6 Collateral is valued at the Composite Mark Price. Where the Company has accepted a Virtual Asset under Clause 9.4.3 that is not quoted on the reference spot exchanges and therefore has no Composite Mark Price, it is valued in accordance with Clause 8.4. Subject to that valuation basis, the Company determines: (i) the form and level of Collateral and any applicable haircuts; (ii) any borrowing, leverage or other limits; (iii) your Margin Credit Limit; (iv) Margin Balances, calculated by reference to the Composite Mark Price; and (v) any other conditions set out in your Margin Confirmation.

9.4.7 By submitting an Order you agree that: (i) you will not exceed the Margin Credit Limit or any other applicable limits; (ii) you will maintain at all times the Collateral the Company requires; and (iii) the Company may change Collateral Requirements, haircuts, weights, and thresholds at any time.

9.4A Grant of Security over Collateral.

(a) Grant. As continuing security for the payment and discharge of the Amount Owing and all your other obligations and liabilities to the Company under the Margin Trading Services, this Addendum and the Agreement (the "Secured Obligations"), you grant to the Company, with effect from the time any Collateral is credited to or held in your Margin Trading Account, a first-ranking security interest, by way of pledge and charge, over all Collateral now or in the future held in your Margin Trading Account, together with all proceeds of that Collateral (the "Security Interest").

(b) Secured Obligations. The Security Interest secures the Amount Owing and all amounts, obligations and liabilities (present or future, actual or contingent) owing by you to the Company under or in connection with the Margin Trading Services, this Addendum and the Agreement, including any Negative Balance.

(c) Identified Collateral. The Security Interest attaches only to the Collateral, being the Virtual Assets and other assets in your Margin Trading Account committed to margin. It does not attach to, and does not extend to, any Client Virtual Assets or Client Money held for you in general segregated custody outside the Margin Trading Account (which remain segregated under Rule IV.C.1(b) and (c)).

(d) First-ranking priority. You represent and undertake that the Collateral is and will remain free of any other Encumbrance, consistent with Clause 9.5.9, so that the Security Interest ranks first. You will not create, grant or permit to exist any competing Encumbrance over the Collateral.

(e) Perfection by control. The Security Interest is perfected by control. The Collateral is held in your Margin Trading Account, which the Company controls (including as a required multi-signature signatory under the custody arrangements described in the Agreement), and is ring-fenced from your spot trading wallets in accordance with Clause 9.1(l). You authorise the Company to take any step, and to act under the power of attorney in Clause 9.5.10, to perfect, maintain and enforce the Security Interest.

(f) Informed consent. You grant the Security Interest with your informed consent, given by your express acceptance of this Addendum under Clause 3 and having read the risk disclosures in Clause 1. This grant constitutes your prior explicit written consent, for the purposes of the Agreement (including Clauses 17 and 18 of the Client Agreement), to the creation of the Security Interest over the Collateral, and only over the Collateral.

(g) Enforcement. On a Default that is continuing, the Company may enforce the Security Interest in accordance with Clauses 9.5.7, 9.5.9, 9.5.10 and 9.6A.

9.5 Early Warning Notifications and Margin Calls. The Company operates a three-level escalation framework: Level 1 Early Warning at 15%; Level 2 Margin Call at 10% with a six (6) hour remediation period; Level 3 Forced Liquidation on expiry of remediation or at 5%.

9.5A Deterministic Escalation (binding and governing).

(a) The Company operates a single, deterministic escalation and close-out sequence, executed by the Company's margin system by reference to the Composite Mark Price. This sequence is the binding and governing mechanism for early warning, margin calls, remediation and Forced Liquidation, and prevails over any discretionary power elsewhere in this Addendum, except as provided in Clause 9.7 (Manifest Error and Pricing Disputes).

(b) The sequence operates as follows: (i) Early Warning (15%) under Clause 9.5.1 and Rule IV.C.1(h); (ii) Margin Call and remediation (10%) under Clause 9.5.3 and Rule IV.C.1(i), with a fixed six (6) hour remediation period to restore the Account to the Maintenance Margin; (iii) Forced Liquidation (5% or expiry of remediation) under Clause 9.5.7 and Rule IV.C.1(j): if you do not restore the Account within the six (6) hour remediation period, or if your ownership percentage falls to or below the Liquidation Threshold (5%) at any time, the Company's system closes out your position in full at the Composite Mark Price. There is no partial liquidation, and the Company does not sell only the amount required to restore the Maintenance Margin: the whole position is closed out.

(c) Every discretionary power in this Addendum is subordinate to, and shall be exercised only consistently with, this deterministic sequence. Without limiting the generality of that subordination, it applies to the discretionary powers in Clauses 1.2, 1.4, 8.3.2, 8.3.5, 8.4, 8.5, 9.1(k), 9.2(d), 9.4.6, 9.5.2, 9.5.7.2, 9.5.8 and 9.5.10. Nothing in those powers permits the Company to depart from the sequence to your detriment, except where VARA instructs the Company under Clause 8.9 or where necessary to comply with Applicable Law. This deterministic sequence does not prevent, and shall not be read as preventing, the correction of a Manifest Error. Where a Manifest Error in the Composite Mark Price is established under Clause 9.7, the Company shall correct the affected outcome in accordance with Clauses 9.7.3(b) and 9.7.4, notwithstanding this deterministic sequence. A correction under Clause 9.7 is a duty of the Company and not a discretionary power.

9.5.1 Early Warning Notification. The Company must monitor your Margin Trading Account on an ongoing basis and provide at least one early warning notification when your ownership percentage falls to 15%, by push notification and email, including your Maintenance Margin Percentage at the time of the notification and a full restatement of the risks in Clause 1.

9.5.2 Margin Call Trigger Conditions. A Margin Call occurs automatically when your ownership percentage falls below the required Maintenance Margin (below 10%), as determined by the Company's margin system by reference to the Composite Mark Price in accordance with Clause 9.5A. Separately, the Company may issue a Margin Call where it reasonably considers it necessary to protect against loss; a Margin Call issued on that basis carries the same fixed six (6) hour remediation period under Clause 9.5A(b)(ii), and does not shorten, displace or vary any period, threshold or step in the deterministic sequence.

9.5.3 Margin Call Notification. The Company must notify you promptly when your ownership percentage falls below the required Maintenance Margin (below 10%), specifying the shortfall, being the amount required to restore your Margin Trading Account to the Maintenance Margin, calculated at the time of the notification by reference to the Composite Mark Price, with a full restatement of the risks in Clause 1.

9.5.4 Notification Method. The Company will notify you of a Margin Call by your preferred Communication Method.

9.5.5 Satisfaction Requirements. To satisfy a Margin Call within the timeframe specified, you must take one or more actions the Company approves, including: (a) repaying some or all of the Amount Owing; (b) providing additional Collateral; (c) liquidating assets in Collateral or Security; (d) applying Virtual Asset balances from any of your own Accounts with Rain MENA FZE; (e) reducing or closing Orders or positions; or (f) any other step the Company requires.

9.5.6 Consequences and Conditions. Failure to satisfy a Margin Call may constitute an event of Default and/or permit immediate liquidation. You agree to monitor your positions and acknowledge that: (a) any delay or inaction by the Company in issuing or enforcing a Margin Call is not a waiver of its rights; and (b) the Company has no obligation to mitigate your losses.

9.5.7 Forced Liquidation. 9.5.7.1 If you do not restore the Account within the six (6) hour remediation period, the Company must close out your position in full at the Composite Mark Price. Separately, if your ownership percentage falls to or below 5% (the Liquidation Threshold) at any time, Forced Liquidation occurs and the Company closes out your position in full at the Composite Mark Price, with no remediation period and without further notice. In each case the Company closes out the position in full: there is no partial liquidation, and the Company does not sell only the amount required to restore the Maintenance Margin. This is consistent with Rule IV.C.1(j), which provides for restoration of ownership to the Maintenance Margin or such higher level as may be set out in this Margin Trading Agreement. 9.5.7.2 If you fail to address a Margin Call and your Margin Balance falls below the prescribed thresholds, the Company may, subordinate to and consistently with Clause 9.5A: (a) take actions to restore your Margin Balance, including closing out open positions and/or selling property in the Account (including Collateral); (b) terminate open Orders and/or positions, the Margin Trading Services, and/or the Agreement; or (c) take any other steps the Company considers necessary. 9.5.7.3 Where the Company sells Collateral or any other property provided as Security, it may do so without recourse or liability to you, with any surplus after satisfying the Amount Owing refunded to you. 9.5.7.4 The Margin Call notification under Clause 9.5.3 constitutes notice of the Company's intention to exercise its forced liquidation rights; within twenty-four (24) hours of completion the Company will provide a written liquidation statement specifying the Virtual Assets sold and price, any Remaining Amount Owing, and the repayment deadline. 9.5.7.5 Additional Payment Obligations (Non-Retail Clients): If you are a Non-Retail Client, you acknowledge that following liquidation you may be required to make an additional payment to the Company in respect of any Negative Balance, recoverable under Clause 9.6A. If you are a Retail Investor, no additional payment is required following liquidation and your liability is limited under Clause 9.6(a). 9.5.7.6 Clauses 9.5.7.2 to 9.5.7.5 also apply to any other liquidation powers the Company exercises under the Addendum.

9.5.8 Inadequate Collateral. If your Collateral or Margin Balance falls below the required levels, the Company acts through the deterministic escalation and Forced Liquidation sequence in Clause 9.5A. The Company issues a Margin Call under Clause 9.5.3; you have the fixed six (6) hour remediation period under Clause 9.5A(b)(ii), during which you may provide additional acceptable Collateral or otherwise satisfy the Margin Call under Clause 9.5.5; and the Company realises Collateral and closes out your position under Clause 9.5.7 only on expiry of that period, or on your ownership percentage falling to or below the Liquidation Threshold (5%). The Company does not liquidate without notice and does not shorten the remediation period. This Clause does not affect the Company's rights of netting and set-off under Clauses 8.3.3 and 8.8, or its rights on a Default under Clause 8.3.

9.5.9 No Encumbrance or Other Dealings. You agree not to: (a) create any Encumbrance or allow one to exist on the whole or any part of the Collateral (save the Security Interest granted to the Company under Clause 9.4A); or (b) attempt or agree to dispose of, or otherwise deal with, any of the Collateral, without the Company's prior written consent.

9.5.10 Company's Rights in Relation to Virtual Assets. Subject to Applicable Law, the Addendum and the Agreement, you authorise the Company to deal with your Collateral and/or Security in accordance with any authority you have granted. Upon enforcement, the Company may, as your agent or pledgee, sell, dispose of, convert to another currency, or otherwise deal with such assets at its discretion. Any Security remains in place until the Company issues a written release. By way of security, you irrevocably appoint the Company (and any nominee) as your attorney to execute documents and take steps necessary to perfect and enforce any Security.

9.6 Treatment of Negative Balances (tiered by client classification). The treatment of any Negative Balance remaining after Forced Liquidation depends on your client classification under Clause 7.2, determined through the Suitability Assessment (Clauses 7.1 and 7.3):

(a) Retail Investors (negative-balance protection: firm commitment). If you are a Retail Investor, your liability is limited to the Collateral and other assets in your Margin Trading Account. The Company will not pursue you for, and you are not liable for, any Negative Balance remaining after Forced Liquidation, and the Company absorbs any such Negative Balance from its own resources. As a Retail Investor you cannot lose more than the assets in your Margin Trading Account. This is a contractual commitment by the Company.

(b) Non-Retail Clients (residual liability). If you are a Non-Retail Client, you remain liable for any Negative Balance remaining after Forced Liquidation, and the Company may recover it under Clause 9.6A.

(c) The classification that applies is the classification in effect at the time the Negative Balance arises.

9.6A Recovery of Negative Balances from Non-Retail Clients. Where you are a Non-Retail Client and a Negative Balance remains after Forced Liquidation, the Company reserves the right to recover the full amount of that Negative Balance, together with interest under Clause 9.3 and the reasonable costs of recovery under Clause 8.7, to the fullest extent permitted by Applicable Law. Without limitation, the Company may:

(a) enforce its Security over, and realise and apply the proceeds of, your pledged margin Collateral in your Margin Trading Account against the Negative Balance, in accordance with Clauses 9.4A, 9.5.7, 9.5.9 and 9.5.10 and the definitions of Security, Collateral and Encumbrance in Clause 5;

(b) set off and apply any Client Money held by the Company for you in any of your own accounts with Rain MENA FZE against the Negative Balance, as expressly permitted by Clause 16(a) and (d) of the Client Agreement;

(c) demand payment of the Negative Balance and pursue recovery through any lawful debt-recovery or legal process; and

(d) exercise any other right available to the Company under this Addendum, the Client Agreement or Applicable Law.

Scope and limits. This Clause 9.6A applies only to your own assets and obligations, and only within Rain MENA FZE. It does not extend to assets held by any other Rain group entity. Recovery against your Virtual Assets runs solely through enforcement of the Company's Security Interest over your pledged margin Collateral (Clause 9.4A), which is an enforceable security interest and is distinct from custody. It does not reach, and does not authorise the Company to use, any Client Virtual Assets held for you in general segregated custody outside that pledge, the custody protections for which (including the Company's undertaking not to use, loan, rehypothecate, pledge or encumber your Client Virtual Assets without your prior explicit written consent) are unaffected by this Clause. Recovery against your Client Money is limited to the express permissions in Clause 16(a) and (d) of the Client Agreement.

No post-Default sweep of custody assets. Following a Default the Company will not move, sweep or transfer any Client Virtual Assets from your general segregated custody into your Margin Trading Account or into the Collateral without your instruction or your fresh explicit consent. Post-Default enforcement by the Company runs solely through the Security Interest over your existing pledged Collateral. This does not affect your right under Clause 9.5.5(d) to elect, during a remediation period, to apply Virtual Asset balances from your own Accounts to remedy a Margin Call: that is a client-elected remediation and remains available, and is distinct from firm-side enforcement.

9.7 Manifest Error and Pricing Disputes.

9.7.1 Meaning of Manifest Error. A "Manifest Error" means any error that is obvious, palpable or apparent on its face in: (a) a price quoted by the Company; (b) a trade confirmation issued by the Company; or (c) the Composite Mark Price used for margin, valuation or liquidation under this Addendum. A Manifest Error includes (without limitation) any price or Composite Mark Price that deviates from the prevailing market price of the relevant Virtual Asset by more than the materiality threshold determined under Clause 9.7.7, and any error caused by a misquote, a system fault, a data-feed error, or manifestly anomalous market conditions.

9.7.2 Scope: the Composite Mark Price and the deterministic sequence. For the avoidance of doubt, a Manifest Error may occur in the Composite Mark Price that drives the deterministic escalation and Forced Liquidation sequence in Clause 9.5A, including a Composite Mark Price that triggers an Early Warning, a Margin Call or a Forced Liquidation. Where a Manifest Error in the Composite Mark Price is established under this Clause 9.7, the correction in Clause 9.7.3 applies notwithstanding the deterministic sequence, as provided in Clause 9.5A(c).

9.7.3 Remedy. Where a Manifest Error is established under this Clause 9.7:

(a) in the case of a Manifest Error in a quoted price or a trade confirmation, the Company shall (i) refuse to act on the affected price or Order, (ii) void or cancel the affected trade and reverse any related transfers, or (iii) re-execute the affected trade at a corrected price representing the prevailing market price at the relevant time; and

(b) in the case of a Manifest Error in the Composite Mark Price that caused or contributed to a Forced Liquidation (or to any sale of Virtual Assets in your Margin Trading Account under Clause 9.5), the Company shall correct the outcome by placing you in the financial position you would have been in had the affected escalation, Margin Call, remediation and Forced Liquidation been assessed and executed by reference to the corrected Composite Mark Price (the "Corrected-Price Outcome"), including by crediting your Margin Trading Account with the difference in value. The difference in value is calculated as at the time the corrected escalation, remediation and (where applicable) Forced Liquidation sequence would have concluded by reference to the corrected Composite Mark Price, as determined by the Company under Clause 9.7.10.

The obligations in this Clause 9.7.3 are duties of the Company and not discretions: where a Manifest Error is established, the Company shall correct it in accordance with this Clause.

9.7.4 Protection of Retail Investors. A correction under this Clause 9.7 shall never place a Retail Investor in a position worse than that Retail Investor's position under Clause 9.6(a). A correction shall not be used to introduce, reintroduce or increase any Negative Balance liability for a Retail Investor, nor to recover from a Retail Investor any amount that Clause 9.6(a) would otherwise require the Company to absorb. Where a corrected outcome would place a Retail Investor in a worse position than the uncorrected outcome, the outcome more favourable to the Retail Investor prevails.

9.7.5 Reference-price basis for review. In determining whether a Manifest Error has occurred and in calculating any Corrected-Price Outcome, the prevailing market price is the Composite Mark Price (as defined in Clause 5, being the volume-weighted composite index of the reference spot exchanges over the applicable rolling window, excluding outliers). The two-independent-venue basis used for the Company's over-the-counter service does not apply to Margin Trading Services.

9.7.6 Notification and dispute route.

(a) If you consider that a Manifest Error has affected a trade, a Composite Mark Price, a Margin Call, a remediation or a Forced Liquidation in your Margin Trading Account, you may notify the Company by email to support-ae@rain.com within twenty-four (24) hours. That period is twenty-four (24) consecutive calendar hours, calculated by reference to Gulf Standard Time (GST, UTC+4), running from: (i) in the case of a Forced Liquidation or other sale of Virtual Assets in your Margin Trading Account, the time the Company makes the written liquidation statement under Clause 9.5.7.4 available to you; or (ii) in any other case, the time of execution of the affected trade. The six (6) hour remediation period in Clause 9.5A(b)(ii) is likewise calculated in consecutive calendar hours by reference to Gulf Standard Time (GST, UTC+4).

(b) If you do not notify the Company within that period, the affected trade, Composite Mark Price or liquidation is deemed accepted by you for the purposes of the manifest-error unwind mechanism in this Clause 9.7 only.

(c) The email route in this Clause 9.7.6 is the mechanism for the manifest-error unwind under this Clause 9.7 only. It does not limit, replace or extinguish your general right to complain, which you may raise through any of the client channels published in the Company's in-application Help Center (currently the support email support-ae@rain.com and the in-application chat) and any other channel set out in the Company's Complaints Handling Policy and Procedure, as provided in Clause 9.7.8. The Company does not operate an in-application manifest-error dispute flow. A communication you send to support-ae@rain.com that falls outside the twenty-four (24) hour period in Clause 9.7.6(a) is not deemed accepted for complaint purposes and, where it raises a complaint, is handled as a complaint under Clause 9.7.8.

9.7.7 Materiality threshold. The threshold at which a deviation from the prevailing market price constitutes a Manifest Error is set by the Company's Compliance function, reviewed periodically, and published on the Company's website, consistent with the disclosed plus or minus 1.5% outlier band applied in the Composite Mark Price methodology. Any change to the published threshold takes effect in accordance with Clause 4 (Updates) and Clause 32 (Variation) of the Client Agreement.

9.7.8 Preservation of the complaint right. Nothing in this Clause 9.7, and in particular the twenty-four (24) hour period in Clause 9.7.6, extinguishes, limits or otherwise affects your general right to complain under the Company's Complaints Handling Policy and Procedure and under the VARA Market Conduct Rulebook Part III. The Company will acknowledge receipt of a complaint within one (1) calendar week, will investigate and resolve a complaint within four (4) calendar weeks, and, where extraordinary circumstances prevent resolution within four weeks, will provide an explanation and status update within four weeks and resolve the complaint no later than eight (8) calendar weeks from receipt. You are not limited to a single channel or method to submit a complaint, and you may submit a complaint through any client channel published in the Company's Help Center, including the support email support-ae@rain.com and the in-application chat, and no fee or charge is imposed for the submission or handling of a complaint. This Clause 9.7.8 operates consistently with Clause 34 (Questions, Feedback, and Complaints) of the Client Agreement.

9.7.9 Firm-side long-stop. The Company may invoke a Manifest Error, and exercise any remedy in Clause 9.7.3(a)(i), (ii) or (iii) that is adverse to you, only within five (5) Business Days of execution of the affected trade or of the affected Forced Liquidation. This Clause 9.7.9 does not limit the Company's duty under Clauses 9.7.3(b) and 9.7.4 to correct a Manifest Error in your favour, which the Company will perform whenever a Manifest Error affecting you is established.

9.7.10 Determination and records. On a notification under Clause 9.7.6 or on the Company's own detection of a suspected Manifest Error, the Company (through an appropriate senior function together with the Compliance function) will review the trade record, the relevant Composite Mark Price and the prevailing market price at the relevant time, and will make and communicate to you a written determination of whether a Manifest Error occurred and of any correction or other remedial action. Each dispute, the related determination and any remedial action are logged in the Company's records and retained for at least eight (8) years.

10. Statement of Account

The Company must provide you with a written statement of account at least monthly showing (a) the trading movement of the Virtual Assets financed on Margin; and (b) the percentage of your ownership in the Margin Trading Account relative to any Virtual Assets, cash or other assets held as Maintenance Margin.

11. Fees and Charges

11.1 Clause 27 of the Client Agreement applies with respect to any charges in regards to the Margin Trading Services, including the calculation of Amounts Owing. 11.2 A breakdown of the commissions, charges and fees is set out at Schedule 1 to this Addendum and on the Company's website. 11.3 All financing is calculated as follows: interest accrues hourly and is paid or payable immediately upon accrual; the applicable rate is set out in Schedule 1, and variations will be communicated in accordance with Clause 4 (Updates). 11.4 All conversions between Virtual Assets to satisfy any obligation under this Addendum will be done on a spot basis at the prevailing market rate unless otherwise stated.

12. Company's Responsibilities and Obligations

12.1 Explanation of Responsibilities. The Company's responsibilities and your respective obligations include: (a) termination rights as set out in Clause 8; (b) the effect of termination as set out in Clause 8; (c) applicable dispute resolution mechanisms as set out in Clause 9.7 (Manifest Error and Pricing Disputes) of this Addendum and in the Client Agreement; and (d) the Company's obligation to provide an early warning notification under Clause 9.5.1.

12.2 Withdrawal and Transfer Rights. You have the right to withdraw cash from, or transfer amounts from, the Margin Trading Account, or use such funds for new Margin financing, if these amounts are higher than the Initial Margin, subject to this Agreement and provided no Event of Default has occurred or is continuing.

12.3 Right to Pay Cash Balance. You have the right to pay the cash balance of the price of the remaining Virtual Assets in the Margin Trading Account at any time.

12.4 Margin Rate Adjustments. The applicable levels of Initial Margin and Maintenance Margin are set out in Clause 5 and the Client Summary Document. Circumstances in which they can be amended include: (a) market volatility; (b) liquidity conditions; (c) regulatory requirements from VARA; and (d) risk assessment of specific clients or Virtual Assets. Any changes will be communicated in accordance with this Agreement and with prior approval from VARA before implementation.

12.5 System Amendment Approval. The Company must obtain the prior approval of VARA (Rule IV.C.1(k)) on any subsequent amendment to the Margin Trading system, and must submit a technical report to VARA showing that the updated system can meet ongoing Margin Trading obligations, even during high volatility.

12.6 Record Keeping. The Company must ensure that orderly records are kept for the Margin Trading services for a period of at least eight (8) years (Rule IV.C.1(l)).

12.7 Operational Exposure and Credit Limits. The Company must ensure that the aggregate funds allocated for Margin Trading services are included in the Company's calculation of its Operational Exposure (Rule IV.D.1(a)). The Company must ensure that the amount of credit extended to you for Margin Trading does not exceed one-tenth (10%) of the total funds (directly or indirectly) attributable to Margin Trading by the Company in its Operational Exposure (Rule IV.D.1(b)), monitored through the risk engine.

12.8 Sufficient Assets. The Company must at all times have sufficient assets to facilitate the Margin Trading Services to its clients.

13. Consent to Risks

By accepting this Margin Trading Agreement and using the Margin Trading Services, you expressly consent that you understand, acknowledge and accept each of the risks listed in Clause 1 (Margin Trading Risk Disclosure). You further acknowledge that: (a) you have read and understood all risk disclosures set out in Clause 1; (b) you have had the opportunity to seek independent legal and financial advice; (c) you accept full responsibility for all risks associated with using the Margin Trading Services; (d) the Company has made no representations or warranties regarding the suitability of the Margin Trading Services for your particular circumstances beyond the Suitability Assessment conducted in accordance with Clause 7; and (e) you will monitor your Margin Trading Account on an ongoing basis and take all necessary steps to manage your risk exposure.

14. VARA Amendment Rights

VARA may require any amendments to this Margin Trading Agreement or other forms relating to Margin Trading conducted by the Company as it deems appropriate. The Company will notify you of any such amendments required by VARA and implement them in accordance with Clause 4 (Updates).

SCHEDULE 1: Margin Trading Fees, Charges, and Payment Timing (Spot)

Fee Structure Overview. The fee structure is designed to reward active traders and clients with substantial holdings. The applicable fee tier is determined by evaluating two primary metrics: (i) cumulative trading volume since account creation, which determines eligibility for the VIP programme and placement within the applicable VIP sub-tier; and (ii) current asset holdings, assessed on a daily snapshot basis as further described below. Fee tiers are recalculated daily to ensure users always benefit from their most favourable tier.

Determining Your Fee Tier. Users are categorized as either regular or VIP tier. Your tier is calculated using two primary metrics:

Trading Activity: the total value of your executed trades across all supported instruments since account creation, denominated in USD.

Asset Holdings: the USD-equivalent value of digital assets maintained in your account, calculated using the higher of either your current daily snapshot or your 30-day average holding.

To qualify as a VIP programme you must reach a minimum of $250K in trading volume since signup. The VIP tier is divided into three sub-tiers, determined by trading volume accumulated since signup:

Silver: traders who accumulate $250K to $500K in trading volume since account creation.

Gold: traders who accumulate $500K to $1M in trading volume since account creation.

Platinum: traders who accumulate over $1M in trading volume since account creation.

Where your trading activity and asset holdings qualify you for different tiers across various product categories, you will automatically receive the benefits of the highest tier achieved across all trading instruments on our platform.

Fee Schedule (USDT pairs). The maker and taker fee rates by tier are as set out in the fee table published on the Disclosure: Fees and Charges (incl. Margin) page on our website.

Multiple Accounts. Where a single user has multiple trading accounts on the Rain Platform, the applicable fee level is determined based on the combined activity and asset balances across all related accounts, with all linked accounts benefiting from the same applicable fee tier. When a new sub-account is activated, the corresponding fee level will be applied automatically once the system updates the account configuration (typically within the same business day).

Calculation of Trading Volume. Trading activity is assessed since account creation. The system determines the notional USD value for each completed trade by multiplying the traded quantity by the asset's closing price in USDT and converting that amount to USD using the USDT/USD daily reference rate. This aggregated value determines both fee tier qualification and volume-based rebates. Example: if 1 ETH is purchased at a daily closing price of 4,000 USDT and the USDT/USD rate is 1.0001, the trade's notional value is 4,000.4 USD.

Daily Asset Valuation. At a fixed daily snapshot time (12:00 am GST), the platform records the quantity of each asset held across all trading, margin, and funding accounts, with borrowed or lent assets excluded. The valuation is calculated using the previous day's closing rate versus USDT, then converted to USD using the daily USDT/USD reference rate. The higher value between the current snapshot and the 30-day average is used for fee-tier purposes.

Maker and Taker Definitions. Maker orders add liquidity to the order book (they remain pending until matched), while Taker orders remove liquidity by immediately matching against existing orders. Example: if the best sell price for BTC is 1,000 USDT and you submit a buy order at 999 USDT, it will rest in the order book and classify as a maker order when executed; a market buy executed immediately at 1,000 USDT is a taker order.

Margin Trading Fee Structure. The trading fee is calculated when an order is filled and depends on whether the trader acts as a maker or taker. Formula: Margin trading fee = Fee rate x Trade value (received asset amount or settlement value). Example: with a maker fee of 0.15% and taker fee of 0.3%: buying 1 BTC at 100,000 USDT (taker), fee = 0.3% x 100,000 = 300 USDT; selling 1 BTC at 100,000 USDT (maker), fee = 0.15% x 100,000 = 150 USDT. Fees are charged immediately upon execution and reflected in the transaction settlement amount. When executing client orders, Rain MENA FZE discloses to clients, both prior to execution and in the trade confirmation, the portion of the amount payable by the client that is retained by Rain MENA FZE as fees or commission for the trade.

Negative Fees and Rebates (for VIP Users only). VIP users may qualify for negative maker fees, resulting in a rebate. Rebates are credited in the settlement currency upon order execution. Example: if the maker fee rate is -0.002% and the trader sells 1 BTC at 100,000 USDT, the rebate equals 0.002% x 100,000 = 2 USDT, added to the trader's balance.

Withdrawal and Settlement Fees. Withdrawal limits and related charges are based on the user's fee tier and calculated daily at 12:00 am GST, with each withdrawal converted to USD equivalent. Total withdrawals within a 24-hour window must remain within the permitted threshold; if exceeded, additional withdrawals may be paused until the next calculation cycle.

Update Schedule. All margin trading fee tiers and associated rates are recalculated once daily, and any changes take effect between 12:00 am GST and 01:00 am GST.

Interest Rates Applicable to Margin Trading Services. Interest accrues hourly from (and including) the hour when credit is advanced, is added to the Amount Owing at each hour's end, and is payable immediately. All financing is calculated as follows: interest accrues hourly and is paid or payable immediately upon accrual. The applicable rate is set out in the table below. In the case of a variable rate, the methodology is set out below, and variations will be communicated by the Company in accordance with the Margin Trading Terms and Conditions.

Variable Rate Methodology: repricing occurs hourly. Borrowing Rate = Base Rate + Utilization Premium, where:

• Base Rate = SOFR + Spread, CeFi/DeFi blended rate (e.g. Aave, Compound, Venus).

• Utilization Premium = a dynamic component that rises as more of the lending pool is used, ensuring borrowing costs rise steeply when liquidity tightens, preventing over-leverage and incentivizing repayment or additional deposits.

Formula parameters: R(base) = SOFR + Spread (CeFi/DeFi blended rate); U = utilization (borrowed assets / total available); R(min) = minimum rate (per virtual asset, see table below); beta = sensitivity parameter (e.g. 10 to 15%, slope of the utilization curve).

Rain MENA FZE restricts margin-eligible Virtual Assets to: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and USD / AED-referenced Virtual Assets as approved by VARA. These Virtual Assets have been assessed as meeting the liquidity requirements to ensure they can be liquidated within a reasonable timeframe, consistent with Clauses 9.4.4 and 9.4.5. (This describes the liquidity of the eligible collateral, being the speed at which it can be sold on enforcement, and is distinct from the six (6) hour client remediation period in Clause 9.5A.)

Regulatory Compliance. The amount of credit extended to a single client for Margin Trading does not exceed one-tenth (10%) of the total funds directly or indirectly attributable to Margin Trading by Rain MENA FZE in its Operational Exposure (Rule IV.D.1(b)), monitored through risk engine calculations.

End of Margin Trading Terms and Conditions v6.2