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X-Tras – Terms and Conditions

1. Welcome

1.1 This page sets out the terms and conditions that apply to the Wirex native token, “WXT” and its use on the Wirex Service.

1.2 By holding, exchanging, or transferring WXT through the Wirex Service, you shall be deemed to have accepted these terms and conditions. If you do not agree to these terms and conditions, do not hold, exchange, or transfer WXT through the Wirex Service. 1.3 These terms, combined with the Wirex General Terms of Service, the Cryptoasset Terms, and any other documents referred to in these terms (the "WXT Terms"), set out the legal agreement between:

You, as the Wirex user; and

The Wirex company that provides you with Cryptoasset Services , as defined in the Wirex General Terms of Service above ("Wirex", or "we", "our", or "us").

Capitalised terms defined in the Wirex General Terms of Service (the "Terms") have the same meanings when they are used in these Cryptoasset Terms.

1.4 Please read these WXT Terms carefully and make sure you understand and agree to them before holding, exchanging, or transferring WXT through the Wirex Service.

1.5 WXT is void where prohibited by law.

2. Definitions:

2.1 “APR” means annual percentage rate (which is used to calculate projected rewards on WXT Balances).

2.2 “Free Subscription” means the Standard (free) plan, the details of which are set out at https://wirexapp.com/pricing as amended and updated from time to time).

2.3 “Paid Subscription” means any 12-month agreement between User and Wirex, which can be (depending on the plan selected) paid monthly or upfront (annually). There are 2 Paid Subscription plans - Premium (paid) and Elite (paid), the details of which are set out at https://wirexapp.com/pricing (as amended and updated from time to time).

2.4 “Promotion” means any special offer for Users with a new Premium and/or Elite subscription published on the website (https://wirexapp.com) and updated by Wirex from time to time.

2.5 “Subscription” means any Free Subscription or Paid Subscription.

2.6 “Wirex General Terms of Service” means the Wirex terms at https://wirexapp.com/terms-and-conditions.

3. What is WXT?

4. WXT, the Wirex platform native token, is a universal Stellar-based token designed as a rewards token for the benefit of Wirex retail and business customers. WXT Rewards Subscription

4.1 Your Paid Subscription for WXT Rewards is a 12-month agreement between you and Wirex, which can be (depending on the Paid Subscription availed) paid monthly or upfront. There are three types of Paid Subscription, and the monthly charges (where applicable) and benefits of each can be seen via this link: https://wirexapp.com/pricing

4.2 Subject to the terms of the relevant Paid Subscription, you may be entitled to receive an APR reward on your WXT Balance, which will be paid to you monthly and will be based on the minimum WXT balance during the month that APR is due to you. For example, if you started off with a balance of 500 WXT, increased to 1,000 WXT and then reduced to 300 WXT all in the same month, the APR you earn will be 300 WXT (i.e. the minimum balance). This clause 4.2 is applicable for Paid Subscriptions only.

4.3 Subject to the terms of an applicable Promotion, during the early months of your first Premium or Elite subscription you may be entitled to earn a higher rate of APR on your WXT Balance, which will be paid monthly and will be based on the minimum WXT balance during the month that APR is due to you.

4.4 You can upgrade your Paid Subscription via the Wirex app at any time. This upgrade is subject to the provision in clause 6 of these Terms.

5. Paid Subscriptions

5.1 Paid Subscriptions are active for one year (12 calendar months). For example, if a user pays for a Paid Subscription on 7 November 2020, their Paid Subscription will be valid until 6 November 2021.

5.2 A 15% discount is provided to customers who wish to pay for their Paid Subscriptions upfront for the 12-month term. Otherwise, the monthly fees set out at clause 4.1 of these Terms apply.

5.3 If a user wishes to upgrade their Paid Subscription above their existing Paid Subscription, they can do so via the Wirex app at any time. If they wish to upgrade their Paid Subscription, the User will be invalidating their existing Paid Subscription. A new Paid Subscription term will then be created for the User, and the 12-month period restarts at the point of the Paid Subscription upgrade.

6. Upgrading or Downgrading your Paid Subscription

6.1 You have the right to withdraw from a Paid Subscription and move to the Free Subscription for a period of 14 calendar days after the start of the Paid Subscription (the ‘Cooling Off Period’). The Cooling Off Period commences on the day that your Paid Subscription is activated and ends 14 calendar days later. If you decide to withdraw from the Paid

Subscription during the Cooling Off Period you will receive a full refund. However, your right to a refund will be waived if you make a transaction of any kind during the Cooling Off Period.

6.2 If you wish to downgrade your Paid Subscription to a Free Subscription you have the right to do this without paying a Break Fee during the first 90 days from the day that your Paid Subscription is activated (the ‘Introductory Period’). To do so please email us at supportescalation@wirexapp.com with “Subscription Downgrade to Standard” (or wording of similar effect) in the subject line.

6.3 If you have had a Premium or Elite Paid Subscription and have subsequently downgraded, you can upgrade again at any time. However, if your downgrade occurred less than 12 months ago, the Introductory Period and its terms do not apply. You can downgrade your Paid Subscription to the Free Subscription at any time by contacting the Wirex Support team. However:

6.4 If you wish to downgrade within the first 10 months of your Paid Subscription period (but after any applicable Introductory Period) Wirex will charge a fee that equals to 1 month’s Paid Subscription fee ie., 9.99 EUR for Premium and 29.99 EUR for Elite (‘Break Fee’).

6.5 If you wish to downgrade 2 months (or less) before your annual contract expires, Wirex will not charge a Break Fee; it will only charge for payment due for the current period.

6.6 If you do not actively downgrade your Paid Subscription to the Free Subscription at least 1 day before the next period of your Subscription begins, it will be assumed that you wish to continue with your existing subscription and any Paid Subscriptions that have not been downgraded to Free Subscription will be renewed on the same basis. For instance, if you do not actively cancel your Paid Subscription which is due to start on 10 December 2020, your Paid Subscription will renew on that date and will subsist until 9 December 2021.

6.7 If a User wishes to upgrade their Paid Subscription, for example from a Premium to an Elite subscription, a new Paid Subscription term will start, and the previous Paid Subscription will be cancelled.

6.8 If a User does not hold sufficient funds in their Wirex account to pay the fee for their Paid Subscription, they will have 2 weeks after this where they can continue to use the benefits of their existing Paid Subscription at no cost (‘Preferential Period’), to give the user time to top-up their WXT balance before turning off their Paid Subscription benefits. If no top-up is made by the end of the Preferential Period, your Paid Subscription will be temporarily frozen i.e.., the user cannot use any Paid Subscription benefits, and will be limited to those available on the Free Subscription.

6.9 If no top-up is made for 3 consecutive months and you are paying monthly for a Paid Subscription, you will be automatically downgraded to a Free Subscription. Should a User wish to restart their Paid Subscription following the automatic downgrade, they can do so via the Wirex app.

7. Grace Period

7.1 All users will continue to have access to the existing WXT Rewards programme (https://wirexapp.com/help/article/wirex-token-wxt-0121) for 1 month from the date of the launch of the Paid Subscription programme (‘Grace Period’), subject to the provisions in clause 8.2 below. The Grace Period will cease to apply after this period.

7.2 If a user decides to upgrade their Free Subscription to a Paid Subscription during the Grace Period, all of the benefits attaching to the existing WXT Rewards programme (as set out in clause 4.1) available during that Grace Period will be cancelled, and thereafter replaced by the discounts available via their selected Paid Subscription. Otherwise, Users can make use of the benefits attaching to the existing WXT Rewards programme for the duration of the Grace Period if they remain on the Free Subscription during that period.

8. How to obtain WXT and eligibility matters

8.1 WXTs are made available to Wirex users through the Wirex Service. Additionally, WXTs can be purchased directly on any of our partner trading platforms which may list WXT(our “Partner Platforms”).

8.2 The rewards set out in clause 3 above are available to users of the Wirex Service where they have been verified in accordance with the General Terms.

9. Important limitations on Subscriptions

9.1 A number of merchant transactions are excluded from the Subscription programme. Further details can be found at this link: https://wirexapp.com/help/article/cryptobacktm-exceptions-and-limitations-that-you-need-to-know-1347

9.2 The amount of Cryptoback™ which can be awarded through this Subscription programme will be capped; these limits will be dependent on the Subscription selected by you. Further information can be found on https://wirexapp.com/help/article/cryptobacktm-exceptions-and-limitations-that-you-need-to-know-1347.

9.3 If you have not downgraded your Paid Subscription pursuant to clause 4 of these Terms and you have not paid the fees for your Paid Subscription, Wirex reserves the right to auto-convert your funds from any existing wallet you have with Wirex to ensure that those fees are met accordingly. If this action is required to be taken by Wirex, Wirex will charge a handling fee which equals 25% of your Paid Subscription price.

10. Tax

WXT may be subject to tax in your jurisdiction. You are responsible for paying any tax due on any WXT you hold in your Wirex account. You should seek professional advice if you are unsure about whether you need to pay any tax and/ or how much tax you need to pay. Wirex will not be responsible to you for any amounts you are required to pay in tax or any penalties you face in connection with your purchase or receipt of WXTs.

11. Changes to WXT Rewards

Changes to WXT Rewards may happen at any time without notice to you. Where possible, we’ll give you one month’s notice before making changes to the WXT Rewards.

12. Important limitations on your WXT holdings

12.1 All orders for WXTs on the Wirex platform are subject to acceptance by us. We will need to conduct certain checks in order to verify your identity before we can use WXT via the Wirex Service.

12.2 WXTs are intended to be used only in connection with the Wirex Service, as specified in the White Paper. WXTs may have no value outside the Wirex Service.

12.3 The purchase of WXTs may not be subject to the protections of any laws or regulations in the country where you live governing the purchase and sale of financial products. You may therefore not be able to benefit from the same protections you might have under applicable laws as you might do when you buy other financial products.

12.4 Dealing with WXTs is, like with all cryptoassets, inherently risky, as the price of cryptoassets can change rapidly. We cannot guarantee that the value of any cryptoassets that you purchase will not fall. You therefore buy or sell WXTs at your own risk. You should ensure that you are able to accept this risk before you buy any WXTs and for as long as you hold any WXTs.

12.5 You are responsible for keeping your user account details secure. You should never give your user account details to any other person, as this will enable them to execute transactions using your account. Wirex will not be responsible for any losses you might suffer from disclosing your user account details to another person (whether intentionally or accidentally) or any unlawful access to your Wirex user account by another person.

12.6 If you lose your Wirex user account details you may not be able to access or use your WXTs. We may not be able to recover any WXTs to you, and you will be responsible for any losses you might suffer as a result.

13. Limitation of Liability

13.1 Wirex reserves the right at any time and from time to time to modify or discontinue, temporarily or permanently, the WXT Rewards with or without prior notice due to reasons outside its control (including, without limitation, in the case of anticipated, suspected or actual fraud).

13.2 We may also modify or discontinue the WXT Rewards on reasonable notice to you. If we discontinue the WXT Rewards, we will, subject to this paragraph 6.2, honour any WXT Rewards for which you became eligible prior to 11:59 pm UK time on the last date of the WXT Rewards being available.

13.3 Wirex accepts no responsibility for any loss or damage incurred or suffered by you as a result of availing the WXT Rewards or accepting or using any WXT Rewards, including (but not limited to) any loss resulting from the following:

(a) any postponement or cancellation of the WXT Rewards, or any delay in crediting any WXT Rewards to your Wirex Profile;

(b) any alteration, unauthorised access, damage, late delivery or non-delivery of any notices, acceptances, requests or other documents related to the WXT Rewards;

(c) any damage to your or any other person's computer relating to or resulting from availing the WXT Rewards;

(d) any act or default of any third party supplier or any of our Partner Platforms.

13.4 Nothing in these WXT Terms shall exclude the liability of Wirex for death, personal injury, fraud or fraudulent misrepresentation as a result of its negligence, or any other matter for which the law does not allow us to exclude or limit our liability.

14. Your personal details 14.1 Please see our Privacy Policy for more information about how we handle your information.

15. Disclaimers

15.1 This product does not constitute a ‘deposit’ under applicable law; and

15.2 Any APR a user earns from the Subscription can only be earned in WXT. For the avoidance of doubt, no APR can be earned on fiat currency.

16. General

16.1 We intend to rely on these WXT Terms as setting out the written terms of our agreement with you for your availing of the WXT Rewards. If part of these WXT Terms cannot be enforced then the remainder of the WXT Terms will still apply to our relationship.

16.2 If you have any questions about WXT and the WXT Rewards, please email us at supportescalations@wirexapp.com with "WXT" in the subject line.

16.3 WXT Rewards will be governed by English law. The English courts will have non-exclusive jurisdiction over any dispute arising from or related to the WXT Rewards. This does not affect any rights you may have under the law of the country in which you are resident, including (where applicable) your right to have a dispute in relation to the WXT Rewards heard in the courts of that country.

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