Terms of Use Thanks for your interest in our website at the “Website” (https://www.m31capital.com). Your use of this Website, including the content, materials and information available on or through this Website (together, the “Materials”), is governed by these Terms of Use (these “Terms”). By using this Website, you acknowledge that you have read and agree to these Terms.

Materials Except for certain Materials provided through a password protected area on this Website (see below), ALL MATERIALS ARE PROVIDED “AS IS,” MAY NOT BE RELIED UPON FOR ANY PURPOSE, AND ARE NOT SUBJECT TO EXPRESS OR IMPLIED WARRANTIES OF ANY KIND. In particular, except to the extent that Materials provided through a password protected area on this Website are subject to different rules, we make no representations or warranties with regard to the Materials’ accuracy, completeness, non-infringement or fitness for a particular purpose. You should be aware that a significant portion of the Materials include or consist of information that has been provided by third parties and has not been validated or verified by us. In connection with our investment activities, we often become subject to a variety of confidentiality obligations to funds, investors, portfolio companies and other third parties. Any statements we make may be affected by those confidentiality obligations, with the result that we may be prohibited from making full disclosures. Without limitation on the effect of other warnings and disclaimers set forth in these Terms, you should interpret any statements we make (on this Website or otherwise) in that context. Please ensure that your own computer security is comprehensive and up to date. We accept no responsibility for viruses, malware or other malicious or damaging software contained in the Materials or otherwise.

Third-Party Sites We accept no responsibility for third-party sites available through this Website, via hyperlink or otherwise. You are encouraged to review the terms of use applicable to those sites. Any access to, or use of, a third-party site is solely at your own risk.

Password Protected Areas Certain Materials may be made available through a password protected area on this Website. Each password is intended to be confidential and used only by the individual or entity to whom it is issued. Do not disclose your password to any unauthorized person. If you access Materials through a password protected area, please note that the written agreements between you and the applicable M31 Capital entities, as well as any provisions set forth in those Materials, govern the parties’ respective rights and obligations with regard to those Materials. In particular, Materials provided through a password protected area generally are confidential and subject to limitations on disclosure and use, and M31 Capital individuals and entities generally have limited liability with respect to the accuracy and completeness of such Materials.

No Offer, Solicitation or Advice Except to the extent expressly set forth in Materials provided through a password protected area on this Website, or as otherwise specified by a M31 Capital entity in writing, nothing on this Website is intended to constitute (i) an offer, or solicitation of an offer, to purchase or sell any security, other asset or service, (ii) investment advice or an offer to provide such advice, or (iii) a basis for making any investment decision. Except as expressly stated by a M31 Capital entity in writing, neither this Website nor any of the Materials make any effort to present a comprehensive or balanced description of M31 Capital or its investment activities. Any portfolio company described on this Website may not be representative of all investments made by any M31 Capital fund and is intended to be illustrative of the types of investments that may be made by such M31 Capital fund.

Forward-Looking Statements The contents of the Website may contain forward-looking statements that are based on beliefs, assumptions, current expectations, estimates, and projections about the financial industry, the economy, M31 Capital itself or its investments. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. Therefore, actual results and outcomes may materially differ from what may be expressed or forecasted in such forward-looking statements. Furthermore, M31 Capital undertakes no obligation to update, amend or clarify forward-looking statements, whether as a result of new information, future events or otherwise. Furthermore, past performance is not indicative of future results; no representation is being made that any investment will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.

Restrictions on Use; No License We reserve all rights with respect to the design and content of this Website. In particular, you must not misappropriate the design or content of this Website and you must not alter or deface such design or content in any way. Nothing on this Website grants any license with respect to such design or content, except that you may download and use Materials solely for your own personal information.

Privacy Policy We respect the privacy of visitors to the Website. We normally record some website usage information, such as the number of visitors and frequency of visits to the Website. This information may include the one website that you browse before entering and after quitting the Website, the network browser that you use and your IP address. If you voluntarily provide information to the Website, for instance when requesting general information or submitting business plans, we may, for reasonable commercial purposes (including but not limited to fulfilling your requests), record and use personal identification information, such as your name, telephone number and email address. We will not use your personal identification information for any other purposes without obtaining your prior permission.

Ownership The Website and all content included on the Website, such as graphics, logos, articles and other materials, is the property of M31 Capital or others and is protected by copyrights, trademarks and other intellectual property rights owned by M31 Capital or third parties that have licensed their materials or provided services to us. M31 Capital reserves all of its intellectual property rights in the Website and in the content included on the Website, and this Agreement does not grant you any right or license with respect to any such intellectual property. You agree not to sell, license, copy, reproduce, modify, republish, transmit, edit, adapt, create derivative works from, distribute or otherwise make unauthorized use of any such intellectual property from the Website without express written permission from M31 Capital. You agree not to reverse-engineer, decompile, disassemble or otherwise attempt to extract or discover the source code of the Website or any part thereof, except and only to the extent that such activity is expressly permitted by applicable law notwithstanding this limitation.

Disclaimers TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE WEBSITE, ACCESS TO THE WEBSITE, AND ALL RELATED CONTENT, SERVICES AND INFORMATION ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS, WITHOUT ANY REPRESENTATION OR WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, OR ANY GUARANTY OR ASSURANCE. THE WEBSITE WILL BE AVAILABLE FOR USE OR THAT ALL INFORMATION, CONTENT, MATERIALS, PRODUCTS, FEATURES, FUNCTIONS OR OPERATIONS WILL BE AVAILABLE OR PERFORM AS DESCRIBED. M31 CAPITAL DOES NOT WARRANT THAT ANY PART OF THE WEBSITE WILL OPERATE UNINTERRUPTED OR ERROR-FREE OR THAT DEFECTS WILL BE CORRECTED. M31 CAPITAL DOES NOT WARRANT THAT THE WEBSITE, INFORMATION, CONTENT, MATERIALS, PRODUCTS OR OTHER SERVICES INCLUDED ON OR OTHERWISE MADE AVAILABLE TO YOU THROUGH THE WEBSITE OR ELECTRONIC COMMUNICATIONS SENT FROM THE WEBSITE ARE FREE OF VIRUSES, MALICIOUS CODE OR OTHER HARMFUL COMPONENTS. YOU EXPRESSLY AGREE THAT YOUR USE OF THE WEBSITE OR RELIANCE UPON ANY OF THE MATERIALS ON THE WEBSITE IS AT YOUR SOLE RISK.

Limitation of Liability Except as specifically agreed by a M31 Capital entity in writing, NO M31 CAPITAL INDIVIDUAL OR ENTITY SHALL HAVE ANY LIABILITY BASED UPON YOUR USE OF, OR RELIANCE UPON, THIS WEBSITE OR THE MATERIALS. Some jurisdictions limit our ability to disclaim liability. With regard to those jurisdictions, our liability shall be limited to the greatest extent permitted by applicable law.

Modification of these Terms We reserve the right to modify these Terms at any time. Please check these Terms periodically for changes. Your continued use of this Website after the posting of changes constitutes your binding acceptance of such changes.

Miscellaneous If it is illegal or prohibited in your country of origin to access or use this Website, then you should not do so. Those who choose to access this Website are responsible for compliance with all local laws and regulations. These Terms set forth the entire agreement between you and us with respect to the subject matter hereof and supersede all prior agreements relating to such subject matter. All M31 Capital individuals and entities are intended third-party beneficiaries of these Terms. Our rights under these Terms may be waived by us only in writing. These Terms are binding on you as well as your successors and permitted assigns. In the event any provision of these Terms is determined to be invalid or unenforceable, such provision shall be deemed severed from the remainder of these Terms and replaced with a valid and enforceable provision as similar in intent as reasonably possible to the provision so severed, and shall not cause the invalidity or unenforceability of the remainder of these Terms.

Contact Information Any questions, concerns or complaints regarding these Terms should be sent to info@m31capital.com.

Effective Date: January 1, 2020

© 2020 M31 Capital. All Rights Reserved.