OKX Accumulator/ Decumulator Product Terms

1. Overview

1.1 The Accumulator/ Decumulator Product ("Accumulator/ Decumulator Product Service", "Service" or "Services") is a non-principal guaranteed structured investment product ("Product") provided and operated by the OKX entity applicable to you under the OKX Terms of Service ("OKX", "Company", "we", "our" or "us" or "Platform"), the full content of which is incorporated by reference herein.

1.2 These Accumulator/ Decumulator Product Service Terms (these "Terms") govern your use of the Accumulator/ Decumulator Product Service and any related services entered into by and between you (the "User" or "you") and OKX, and are legally binding upon you and OKX. These Terms are supplemental to, and should be read together with, the Structured Products Subscription Service Terms (the "Master Terms") as published by OKX from time to time, which govern the general framework for structured product subscriptions, including order mechanics, calculation agent framework, reference price fallback, events of default, and early termination. In the event of any conflict between these Terms and the Master Terms, these Terms shall prevail to the extent of the conflict insofar as it relates to the Accumulator/ Decumulator Product Service specifically.

1.3 By accessing the Services and subscribing to any Accumulator/ Decumulator Product, you confirm you have read, understood, and accepted these Terms, the Master Terms, the OKX Terms of Service, Risk & Compliance Disclosure, and all other applicable User Agreements (as defined in the Master Terms), and that you agree to be legally bound by all terms and conditions thereof.

1.4 The Terms and any applicable User Agreements constitute the entire agreement and understanding regarding the use of any or all of the Services, and any manner of accessing them, between you and OKX, depending on your location, nationality, services used, and your level of KYC completed.

2. Eligibility to Use the Service

2.1 You understand and acknowledge that:

(1) You have agreed to abide by the OKX Terms of Service, and the Master Terms, and you are eligible and are not prohibited from using the Services defined therein;

(2) If you are registering for the Service in your personal capacity, you must be at least 18 years old, with full civil rights and civil capacity, and have all necessary authorities and abilities to accept and execute these Terms;

(3) If you are registering on behalf of a legal entity, you declare and guarantee that (i) such legal entity is legally established and valid under applicable laws and regulations; and (ii) you are duly authorised by the legal entity and have the right to act on its behalf;

(4) You have the requisite experience, knowledge and risk tolerance to invest in non-principal guaranteed structured Digital Asset products involving derivatives, including products with barrier features and physical settlement;

(5) You shall carefully consider and use clear judgment to evaluate your financial condition and the risks described herein before making any subscription decisions, and shall bear all losses arising therefrom;

(6) These Terms do not conflict with the laws of your country or region, and you agree to comply with all applicable laws;

(7) You are the legal owner of the Digital Assets in your OKX Account and guarantee that the sources of those Digital Assets are legal; and

(8) Access to the Service and each Product may be subject to OKX's internal approval or restrictions and may be denied or revoked at any time without prior notice at OKX's sole discretion. Different account types and applicable jurisdictions may affect access.

2.2 You agree and undertake that you shall not use the Service for any illegal purposes, including but not limited to money laundering, fraud, terrorist financing, or any other activity prohibited by law.

3. Definitions

The following terms used in these Terms shall have the following meanings. Capitalised terms not defined herein shall have the meanings given to them in the Master Terms.

• “Delivery Amount” means the amount of Target Currency, as applicable, to be credited to the User’s OKX funding account on each Observation Settlement Date, which is calculated on the basis of Period Notional ÷ Strike Price.

• “Direction” means the directional parameter of the Product, being either “Accumulate” or “Dispose”, as specified in the Order Terms. For “Accumulate”, the User seeks to accumulate Target Currency at a low Strike Price, while for “Dispose”, the User seeks to dispose of Investment Currency at a high Strike Price.

• “Expiration Date” means the date on which the final Observation Date falls (or would have fallen in the absence of any early termination), as specified in the Order Terms.

• "Investment Amount" means the principal amount of the Investment Currency subscribed by the User, as specified in the Order Terms.

• ”Investment Currency" means the currency in which the User invests, as specified in the Order Terms.

• “Knock-Out Barrier” means the Reference Price level at which a Knock-Out Event is triggered, as specified in the Order Terms.

• “Knock-Out Date” means the Observation Date on which a Knock-Out Event first occurs.

• “Knock-Out Event” means: (a) for Direction “Accumulate”: the event that occurs when the Reference Price is at or above the Knock-Out Barrier on any Observation Date; (b) for Direction “Dispose”: the event that occurs when the Reference Price is at or below the Knock-Out Barrier on any Observation Date.

• “Observation Date” means each date on which the Reference Price is observed to determine whether a Knock-Out Event has occurred, and also each scheduled date on which a periodic settlement at the Strike Price is due to occur under the Product, as specified in the Order Terms. Observation Dates occur at the frequency stated in the Order Terms (typically weekly, unless otherwise specified). The Expiration Date is itself an Observation Date unless the Product has been terminated prior thereto.

• “Observation Settlement Date” means the date on which the Delivery Amount in respect of an Observation Date is credited to the User’s OKX funding account, which shall be within one (1) Business Day following the relevant Observation Date, subject to the settlement disruption provisions of the Master Terms.

• “Observation Time” means 16:00 (UTC+8) on any relevant Observation Date, unless otherwise specified in the Order Terms.

• “Order Terms” means the product-specific terms for each Accumulator / Decumulator Product subscription communicated to the User by OKX, which shall specify at minimum the items listed in Clause 4.2. The Order Terms may take the form of a written term sheet, an in-app order confirmation, or such other form as OKX may make available from time to time.

• “Period Notional” means the portion of the Investment Amount allocated to each scheduled Observation Date, equal to the Investment Amount divided by the total number of scheduled Observation Dates, as specified in the Order Terms. All Period Notionals are equal in amount (save for nominal rounding differences when the Investment Amount is not evenly divisible by the number of scheduled Observation Dates) unless otherwise specified in the Order Terms.

• “Reference Price” means the arithmetic mean of the Underlying Index over the 30-minute window from 15:30 (UTC+8) to 16:00 (UTC+8) on the relevant Observation Date, as determined by OKX as Calculation Agent using the OKX platform as the primary source. In the event that the Reference Price cannot be determined from the primary source, the fallback provisions in the Master Terms shall apply.

• “Remaining Notional” means the portion of the Investment Amount not yet settled as at the Knock-Out Date, equal to the Investment Amount minus the aggregate of all Period Notionals in respect of Observation Dates that were settled prior to the Knock-Out Date. For the avoidance of doubt, the Period Notional attributable to the Knock-Out Date itself forms part of the Remaining Notional and is not settled at the Strike Price.

• “Strike Price” means the pre-defined price of the Target Currency at which the User acquires or delivers the Target Currency on each Observation Date, as specified in the Order Terms. The Strike Price is fixed at subscription and does not vary during the Tenor.

• “Target Currency” means the target currency as specified in the Order Terms.

• “Tenor” means the period from (and including) the Trade Date to (and including) the Expiration Date, as specified in the Order Terms.

• “Trade Date” means the date on which the User’s subscription is accepted and confirmed by OKX in accordance with Clause 4.3.

• “Underlying Currency Pair” means the currency pair referenced by the Product (such as BTC/USDT, ETH/USDT, or such other pair as may be specified in the Order Terms and supported by OKX for the Product from time to time).

• “Underlying Index” means the price index published by OKX that is used to determine the Reference Price, as specified in the Order Terms.

4. Accumulator/ Decumulator Product Service

The User shall be entitled to request to subscribe to one or more Accumulator / Decumulator Products offered by OKX or its affiliates, through the OKX Platform or through other means made available by OKX to Users from time to time, pursuant to one or more subscription orders executed by the User from time to time (each, an “Order”).

4.1 Description of the Accumulator/ Decumulator Product

The Accumulator / Decumulator Product is a non-principal guaranteed structured product under which the User commits the full Investment Amount at the Trade Date and transacts to obtain the Target Currency at the Strike Price on each Observation Date throughout the Tenor, subject to early termination upon a Knock-Out Event. The Product is fully funded; no additional margin or collateral is required from the User following the Trade Date. No coupon is paid for this Product.

The Direction parameter determines the orientation of the Product. In each case, the User subscribes in the Investment Currency. On each Observation Date, a Period Notional of Investment Currency is applied to acquire a Delivery Amount of Target Currency at the Strike Price, which OKX credits to the User’s funding account. For an “Accumulate” direction, the Knock-Out Barrier is at a price above the Strike Price. For a “Dispose” direction, the Knock-Out Barrier is at a price below the Strike Price. If the Reference Price rises to or above the Knock-Out Barrier (for an “Accumulate” direction) or to or below the Knock-Out Barrier (for an “Dispose” direction) on any Observation Date, the Product terminates early (before the subscription of the Period Notional on that Knock-Out Date) and the Remaining Notional is returned to the User in the Investment Currency.

4.2 Order Terms

For each Accumulator / Decumulator Product subscription, the Order Terms shall specify:

(a) the Underlying Currency Pair and Underlying Index;

(b) the Direction (Accumulate or Dispose);

(c) the Investment Amount and the Investment Currency;

(d) the Strike Price;

(e) the Knock-Out Barrier;

(f) the Observation Dates, including the total number of Observation Dates and observation frequency;

(g) the Expiration Date;

(h) the Period Notional; and

(i) any other terms as OKX deems necessary or appropriate.

The Order Terms shall, together with these Product Terms and the Master Terms, constitute the full terms of each Order.

4.3 Trade Date and Subscription Process

(a) The Product commences on the Trade Date. For subscriptions initiated through the OKX Platform, the User's electronic submission and confirmation of a subscription request through the Platform interface shall constitute an offer to subscribe. OKX's electronic confirmation of the Order, as displayed in the User's account, shall constitute acceptance and the Order shall become legally binding at that point.

(b) For Subscriptions initiated otherwise than through the OKX Platform, the subscription process set out in Clause 4.3 of the Master Terms shall apply.

4.4 Settlement — Payoff Scenarios

The settlement mechanics of the Product are set out in the following table.

4.5 Settlement on each Observation Date

(a) On each Observation Date OKX shall, at the Observation Time, determine the Reference Price and effect the periodic settlement described in Clause 4.4 depending on whether that Observation Date is a Knock-Out Date. The Delivery Amount shall be credited to the User’s OKX funding account on the applicable Observation Settlement Date.

(b) Settlement on each Observation Date occurs regardless of where the Reference Price falls relative to the Strike Price on that date (save for in the instance where a Knock-Out Barrier is exceeded). There is no adjustment to the Strike Price or the Period Notional by reference to the Reference Price.

4.6 Knock-Out Event and Early Termination

4.6(a) Upon the occurrence of a Knock-Out Event on an Observation Date, the Product shall terminate immediately. No further settlements at the Strike Price shall occur (including for the avoidance of doubt settlement on the Knock-Out Date). OKX shall return the Remaining Notional to the User in the Investment Currency.

4.6(b) Delivery Amounts of Target Currency in respect of Observation Dates settled prior to the Knock-Out Date are final and irrevocable.

4.6(c) OKX shall notify the User of the occurrence of a Knock-Out Event and the resulting Remaining Notional as soon as reasonably practicable following the Knock-Out Date.

4.7 Early Unwind at User's Request

(a) The User may request an early unwind of a Product prior to the Expiration Date by submitting a written request to OKX through the communication channel specified in the Order Terms or otherwise agreed with OKX. OKX has sole and absolute discretion as to whether to accept any such request.

(b) If OKX agrees to an early unwind, the settlement amount payable to the User shall be determined by OKX as Calculation Agent based on the mark-to-market value of the Product at the time of unwind, which may be materially less than the Remaining Notional. The mark-to-market value shall reflect, among other factors, the remaining time to expiry, the prevailing price of the Underlying Currency Pair, implied volatility, and applicable unwind costs.

(c) OKX shall provide the User with an indicative unwind price prior to execution. The User must confirm acceptance in writing before OKX proceeds. Once confirmed, the unwind is irrevocable.

(d) OKX is under no obligation to agree to an early unwind. The User has no right to demand early redemption.

4.8 Disruption Events

If the Reference Price cannot be determined from the primary source on any Observation Date, the Reference Price fallback waterfall set out in the Master Terms shall apply to determine the applicable Reference Price. In particular:

(b) If an Extraordinary Event (including a protocol fork, hard fork, airdrop, change in consensus mechanism, or delisting of the Digital Asset) occurs during the Tenor, OKX as Calculation Agent may adjust the terms of the Product as necessary to preserve the economic terms, or if no adjustment is sufficient, terminate the Product in accordance with the Master Terms.

(c) OKX shall not be liable for any loss arising from a price determination made pursuant to the fallback provisions, subject to the standard of good faith and commercial reasonableness.

4.9 OKX-Initiated Termination

(a) OKX reserves the right to terminate this Service (including any specific Accumulator/ Decumulator Product) in advance at its sole discretion in any of the following circumstances:

• (i) Termination is required due to applicable regulatory requirements or changes in law;

• (ii) A force majeure event, Extraordinary Event, or Market Disruption Event renders OKX unable to continue to perform its obligations;

• (iii) A price disruption cannot be resolved within the maximum postponement period under the Master Terms; or

• (iv) OKX otherwise determines, acting reasonably, that termination is necessary having regard to market conditions or the integrity of the Product.

(b) If OKX initiates early termination, it shall make reasonable efforts to notify the User in advance.

(c) Upon OKX-initiated termination, the return of invested sums shall be at the mark-to-market value of the Product as determined by OKX as Calculation Agent in good faith and in a commercially reasonable manner, which may be less than the Remaining Notional. OKX shall notify the User of the applicable settlement terms prior to or upon termination. Delivery Amounts in respect of Observation Dates already settled prior to the termination date shall not be affected.

(d) If OKX determines that an Order Terms document contains a manifest error (including a clearly erroneous Strike Price), OKX shall have the right to cancel the relevant Product. If cancelled, OKX shall promptly notify the User and return the Remaining Notional in the Investment Currency.

(e) Settlement amounts upon OKX-initiated termination shall generally be credited to the User's OKX funding account within two (2) Business Days following the termination date.

5. Risk Disclosure and Limitation of Liabilities

5.1 General

The general risk disclosures and limitation of liability provisions applicable to all structured products are set out in the Master Terms and are incorporated herein by reference. The following risk disclosures are specific to the Accumulator/ Decumulator Product and supplement (but do not replace) the risk disclosures in the Master Terms.

5.2 Accumulator/ Decumulator Product — Specific Risk Disclosures

(1) Non-Principal Guaranteed — Physical Settlement Risk. The Accumulator / Decumulator Product is not a principal-guaranteed product. On each Observation Date, the User’s Period Notional is applied to transact at the Strike Price regardless of the prevailing Reference Price. If the Reference Price has moved adversely, the User may receive Target Currency worth substantially less than the market value of the Investment Currency equivalent paid. In adverse conditions, the cumulative loss across all Observation Dates may be significant. There is no minimum settlement value.

(2) Embedded Short Option — Derivative Nature. By subscribing to an Accumulator / Decumulator Product, the User is effectively selling an option to OKX in respect of the Underlying Currency Pair in exchange for the ability to transact at the Strike Price. Users should ensure they fully understand the risks of short option positions, including the risk that if the Reference Price moves persistently against the User’s directional view, the User may acquire Target Currency at an effective cost materially higher than its market value on each Observation Date.

(3) No Coupon or Yield Compensation. The Accumulator / Decumulator Product pays no periodic coupon or yield. The User’s sole economic benefit is the potential to transact at the Strike Price, which may or may not be more favourable than the prevailing Reference Price on any given Observation Date. In adverse market conditions, the User receives no compensation in respect of any Observation Date on which the Strike Price is unfavourable, and the entire adverse economic effect is borne by the User.

(4) Continuing Transactional Obligation. The User is irrevocably obligated to transact the Period Notional at the Strike Price on each Observation Date throughout the Tenor, unless a Knock-Out Event has terminated the Product. The User cannot pause, reduce, or defer the obligation on any individual Observation Date. The total transactional obligation is fixed at inception. The fully funded nature of the Product means the full Investment Amount is committed at the Trade Date and is not available for other purposes during the Tenor.

(5) Knock-Out Event — Target Position Risk. If a Knock-Out Event occurs, the Product terminates early and the Remaining Notional is returned to the User. The User will not achieve the full target accumulated or disposed position that would have been reached had the Product run to the Expiration Date. The favourable Strike Price is no longer available following the Knock-Out Event, and the User may not be able to achieve comparable execution in the open market.

(6) No Secondary Market. There is no secondary market for Accumulator / Decumulator Products. The User cannot transfer, sell, or assign the Product to any third party. Early exit is only possible via an early unwind at the User’s request, subject to OKX’s sole discretion and potentially resulting in a settlement amount materially below the Remaining Notional (see Clause 4.7), or via a Knock-Out Event, which returns the Remaining Notional but does not compensate the User for Observation Date settlements already completed at unfavourable prices.

(7) Opportunity Cost. Once a Product is subscribed, the full Investment Amount is committed to OKX and the User will not be able to invest, trade, or otherwise use the Investment Amount during the Tenor. If market conditions change significantly following the Trade Date, the User may forgo alternative investment opportunities.

(8) Settlement Timing. Settlement of Delivery Amounts is subject to operational processing times. OKX targets settlement on each Observation Settlement Date but does not guarantee delivery at a specific time. Blockchain network conditions and exchange operational factors may cause delays outside OKX’s reasonable control.

(9) Tax Treatment. The tax treatment of amounts received under this Product — including the receipt of Investment Currency or Target Currency on Observation Settlement Dates, the return of the Remaining Notional upon a Knock-Out Event, and any economic gains or losses arising from transacting at the Strike Price — may vary depending on the User’s jurisdiction of residence and applicable tax classification. OKX does not provide tax advice. Users should consult their own tax advisers prior to subscribing.

Users must have sufficient financial capability, experience, and willingness to bear all risks described herein. The Accumulator/ Decumulator Product is not suitable for all investors.

5.3 Limitation of Liability

(1) WITHOUT PREJUDICE TO THE LIMITATIONS OF LIABILITY SET OUT IN THE MASTER TERMS AND TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL OKX BE LIABLE TO THE USER FOR ANY LOST PROFITS, DELAY, LOST BUSINESS, OR FOR ANY CONSEQUENTIAL, INCIDENTAL, SPECIAL OR INDIRECT DAMAGES OF ANY KIND, WHETHER ARISING IN CONTRACT, TORT OR OTHERWISE, IN CONNECTION WITH ANY PRODUCT.

(2) You agree and accept that OKX shall not be liable for losses arising from: service suspension for maintenance; cyber attacks or security breaches; telecommunications failures; force majeure events; regulatory changes; blockchain network congestion or protocol failures; or any other event beyond OKX's reasonable control.

(3) The aggregate liability of OKX under or in connection with these Terms shall not exceed the total fees (if any) received by OKX from you in connection with the relevant Product.

6. Mandatory Measures

You agree and accept that OKX strictly prohibits unfair trading practices. OKX reserves the right to exercise control over your account or close your account if you engage in any of the following:

(1) Market manipulation or any other malicious market behaviour;

(2) Harming or attempting to harm other users or OKX by exploiting loopholes or vulnerabilities of the Service;

(3) Participation in any activities that OKX regards as potentially harmful to the market; and/or

(4) Violation of applicable laws and regulations.

OKX reserves the right to take such measures at its sole discretion, including closing your account and/or cancelling your orders. OKX shall not be liable for any losses incurred in connection with such measures.

7. Indemnification

7.1 You shall take all reasonable steps to protect OKX and its affiliates from damages or losses arising from your use of the Service or actions related to your OKX account.

7.2 You hereby agree to release, defend, indemnify and hold OKX and its affiliates harmless from any claim or demand (including reasonable legal fees) made by any third party against OKX arising from your breach of these Terms, your improper use of this Service, your violation of any applicable laws or regulations, or the rights of any third party.

8. No Business, Legal, Financial or Tax Advice

OKX is not your broker, dealer, agent or consultant and does not have a fiduciary relationship with or duty towards you in respect of any Accumulator/ Decumulator Product. No information provided by OKX shall be deemed business, legal, financial or tax advice. You shall determine whether any Product is appropriate for you based on your own investment objectives, financial condition and risk tolerance, and shall be solely responsible for all losses and liabilities arising from your subscription. You should consult your own financial, legal and tax advisers as appropriate before subscribing.

9. Third Party Website Disclaimer

Any links to third party websites in OKX Services do not constitute an endorsement of any products, services or information provided therein. OKX shall not be liable for any losses arising from your use of third party products and services. OKX and each third party website are independent legal entities.

10. Governing Law

These Terms, your use of the Services, any claim, counterclaim or dispute of any kind or nature whatsoever arising out of these Terms, directly or indirectly, shall be governed by, and construed in accordance with the laws of England and Wales without regard to the principles of conflicts of laws thereof.

11. Jurisdiction and Dispute Resolution

11.1 You acknowledge and agree that in the event of any dispute, controversy, difference or claim, including the existence, validity, interpretation, performance, breach or termination of the Terms or any dispute arising out of or relating to the Terms (“Dispute”), the parties shall first refer the Dispute to proceedings at the Hong Kong International Arbitration Centre (“HKIAC”) in accordance with HKIAC’s Mediation Rules in force for the time being.

11.2 If the Dispute has not been settled upon the signing of a settlement agreement within ninety (90) days following the filing of a request for mediation set forth in Clause 11.1, such Dispute shall be referred to and finally resolved by arbitration administered by the HKIAC under the HKIAC Administered Arbitration Rules in force when the Notice of Arbitration is submitted. The law of this arbitration clause shall be the laws of the Hong Kong Special Administrative Region of People’s Republic of China (“Hong Kong”).

11.3 You agree that the seat of arbitration shall be Hong Kong. The number of arbitrators shall be three (3). OKX shall appoint one (1) arbitrator and you shall appoint one (1) arbitrator. The third arbitrator shall be appointed by the Chairman of the HKIAC. Such arbitrators shall be freely selected, and the parties shall not be limited in their selection to any prescribed list. The arbitration proceedings shall be conducted in English.

11.4 You agree that OKX shall not be required to give general discovery of documents, but may be required only to produce specific, identified documents which are relevant and material to the outcome of the Dispute.

11.5 Any arbitral award shall be final and binding upon the parties hereto and shall be enforceable in any competent court which has jurisdiction.

12. Miscellaneous

12.1 OKX reserves the right to unilaterally modify these Terms at any time without prior notice. Revised Terms shall be posted on OKX's website. Your continued use of or access to the Service following the posting of any changes constitutes acceptance. If you do not accept the revised Terms, please stop using the Service.

12.2 Unless otherwise instructed by OKX, formal communications shall be made through the OKX Support Center. Formal communications shall be in English; in any discrepancy between English and a foreign-language version, the English version prevails.

12.3 If any provision of these Terms is invalid, illegal or unenforceable, the remaining provisions shall not be affected. The invalid provision shall be modified to the minimum extent necessary to make it enforceable, or if not possible, severed.

12.4 No failure or delay by OKX in exercising any right under these Terms shall operate as a waiver.

12.5 You shall not transfer, novate or assign these Terms or any rights hereunder without OKX's prior written consent. OKX may transfer, novate or assign any rights or obligations under these Terms by written notice to you.

12.6 The headings in these Terms are for convenience only and shall not affect interpretation.

12.7 In the event of any discrepancy between the English version of these Terms and any foreign-language translation, the English version shall prevail.

12.8 OKX has sole and final discretion in the interpretation of these Terms.