DWR Terms

Uranium Receipt Terms and Conditions 

Last Updated: August 2026 

USE OF THE SITE FUNCTIONS OF THE URANIUM DIGITAL PLATFORM BY PERSONS WHO ARE CURRENTLY OR ORDINARILY LOCATED OR RESIDE IN RESTRICTED TERRITORIES IS STRICTLY PROHIBITED, REGARDLESS OF THE USER’S IP ADDRESS. UTILIZING A VIRTUAL PRIVATE NETWORK OR OTHER METHOD TO CONCEAL A USER’S RESTRICTED TERRITORY RESIDENCE IS ALSO STRICTLY PROHIBITED AND MAY RESULT IN PERMANENT BLOCKING OF USE OF THE URANIUM DIGITAL PLATFORM IN CONNECTION WITH BLOCKCHAIN ADDRESSES SUSPECTED OF BEING TIED TO A RESTRICTED TERRITORY RESIDENCE. 

Please read these Uranium Receipt Terms and Conditions (these “UR Terms”) carefully, which apply to you (“You”), as they set forth the legally binding terms and conditions that govern the provision and Your use of the uranium-backed receipt issued by Uranium Digital Holding LLC, a Delaware limited liability company which has been structured as a bankruptcy remote vehicle (“UDH”), an affiliate of Takara Ventures Ltd., a Bahamas international business company (collectively, “Uranium Digital,”), known as the Uranium Receipt (the “Uranium Receipt” or “UR”). These UR Terms should be read together with the Uranium Digital Platform Terms and Conditions (the “Platform Terms,” and collectively with the UR Terms, the “Uranium Digital Terms”). Users who are authorized by Uranium Digital to own, hold, or use Uranium Receipts in accordance with these UR Terms shall be referred to as “Customers.” These UR Terms cover Your rights and obligations, and our disclaimers and limitations of legal liability, relating to Your use of the Uranium Receipt. All capitalized terms used but not defined herein shall have the meanings ascribed to them in the Platform Terms. 

These UR Terms are intended to be read with, are incorporated by reference into, and form a part of the Platform Terms. Accordingly, matters addressed in other parts of the Uranium Digital Terms, but not in these UR Terms, such as indemnity, dispute resolution, and governing law, shall apply in connection with these UR Terms. To the extent that there is a conflict between these UR Terms and the terms and conditions of any other agreement that You may have entered into with Uranium Digital, including, but not limited to, the Platform Terms, with respect to the Uranium Receipt, these UR Terms shall control. 

1. Interface. As described in more detail in Section 5, the Interface allows Customers to convert approved digital assets or U.S. dollars held in an Account Provider account to the Uranium Receipt and vice versa. As described in more detail in Section 6 below, the Uranium Digital Platform also allows Customers to request the redemption of Uranium Receipts in their possession for U3O8 (as defined below) via our custodial partner, currently Converdyn (the “Custodian”), if the Customer meets the Custodian's compliance and regulatory requirements. 

2. Uranium Digital Customer. You agree that in order to become a Customer and thereby avail Yourself of any of the rights provided by Uranium Digital and obtained by owning, holding, or using the Uranium Receipt, You must complete Uranium Digital’s new customer onboarding to Uranium Digital’s satisfaction at Uranium Digital’s sole discretion, which may include the completion of adequate know-your-customer (“KYC”) and know-your-business (“KYB”) procedures and the execution of any additional agreements that Uranium Digital may require. Additionally, to access Uranium Receipt conversion or redemption features, You will be required to complete customer onboarding, including KYC and KYB procedures, for the Custodian to the Custodian’s satisfaction and at its sole discretion. 

3. Agreement to Terms. By purchasing any Uranium Receipts, submitting a Redemption request, or submitting an Issuance request on the Site, You agree to be bound by these UR Terms. By accessing and

using the Site, You agree to be bound by the Platform Terms and any applicable Third-Party Service Provider Terms. If You do not agree to be bound by these UR Terms, You are not authorized to use any functionality with respect to the Uranium Receipt on the Site, such as buying or selling the Uranium Receipt and submitting Redemption and Issuance requests, nor will You be conferred any rights by Uranium Digital for holding the Uranium Receipt. Because the Site is evolving over time, we may change or discontinue all or any part of the Site, at any time, and without notice, at our sole discretion. 

4. Uranium Receipt. 

i The Uranium Receipt is a blockchain-based receipt minted on the Solana blockchain network and potentially other blockchain networks in the future. The Uranium Receipt does not have a set supply. New Uranium Receipts are minted when Customers deposit U3O8 (as defined below) in UDH’s Converter Account (as defined below) for the purpose of minting new Uranium Receipts. Uranium Receipts are burned, and thus removed from circulation, when a Customer successfully redeems the Uranium Receipt with the Custodian via the Site, subject to the process described below. 

ii Each Uranium Receipt represents one pound of Triuranium-octoxide (also known as “Yellowcake” or “U3O8”) held in storage by the Custodian. 

iii U3O8is a stable, transportable, pre-enrichment form of uranium that is commonly used in uranium trusts and for physical uranium trading. 

iv New Uranium Receipts are minted and issued when, via the Site, Customers submit an Issuance (as defined below) request, and successfully transfer U3O8 from their Storage Facility Partner (as defined below) converter account to UDH’s Converdyn converter account (“UDH’s Converter Account”), where UDH holds such transferred U3O8in the Customer’s name and for the benefit of such Customer. 

v The U3O8 represented by Uranium Receipts is held and custodied by the Custodian in UDH’s Converter Account. 

vi Proof-of-Reserve 

a) Uranium Digital has partnered with Chainlink to independently audit and verify in real time that every Uranium Receipt is sufficiently backed by one pound of U3O8through Chainlink’s proof-of-reserve oracle. 

b) Chainlink’s preferred auditor, which as of the date of these UR Terms is the Network Firm, reviews and validates reserve reports from the facilities, providing independent validation that on-chain data accurately reflects the underlying U3O8. 

c) Chainlink’s proof-of-reserve system connects off-chain U3O8 reserve reports directly from uranium storage converter facilities to blockchains through Chainlink’s decentralized oracle network. External adapters read reserve data, which is packaged into a data stream and transmitted by independent Chainlink nodes. These nodes broadcast the information onto a blockchain, where a Chainlink verifier contract confirms the accuracy of the report. The updated reserve values are then stored in a Proof-of-Reserve program, influencing the ability of UDH to mint and burn Uranium Receipts. The proof-of-reserve system verifies that every issued receipt is continuously matched against the actual

uranium inventory, providing institutions with real-time, independently verified proof that receipts remain fully backed by physical uranium. 

d) You agree not to hold Uranium Digital responsible or liable for any losses or damages arising from errors in Chainlink’s proof-of-reserve system, including any losses or damages in connection with the supply of Uranium Receipts and such supply not being fully backed by the appropriate amount of U3O8. 

vii Customers who meet the Custodian’s compliance and regulatory requirements can redeem Uranium Receipts for an equivalent amount of U3O8. Customers must submit a Redemption (as defined below) request on the Site to do so. 

viii UDH cannot unilaterally mint Uranium Receipts. Participation from the Chainlink proof-of-reserve system is required to mint Uranium Receipts. 

ix Uranium Receipts are not legal tender or money instruments. 

x Uranium Receipt Properties: 

a) The Uranium Receipt confers on Customers an interest in, and the right to access, U3O8. 

b) Uranium Receipts are similar to a warehouse receipt and represent holders’ ownership in a pro rata portion of the U3O8that has been tokenized. 

c) Accordingly, Uranium Receipt holders bear all of the economic risk and reward of the ownership of U3O8 represented by the Uranium Receipts. 

xi Purchasing Uranium Receipts on the Site: 

a) The Uranium Receipt can be purchased on the Site via the Trading Product. Please refer to the Platform Terms for more information concerning the Trading Product. 

xii By accessing or using the Site in any way, including by purchasing or selling Uranium Receipts or submitting a Redemption or Issuance request, You represent and warrant that: 

a) You understand that the Uranium Receipts have not been registered with the U.S. Securities and Exchange Commission (SEC), under U.S. securities laws, the Commodities and Futures Trading Commission (CFTC), under U.S. commodities or derivatives laws, or under the securities, commodities, and derivatives laws of any other jurisdiction; 

b) You acknowledge and agree that (a) the Uranium Receipts are speculative, involve a high degree of risk, may be illiquid, may have no value, have limited regulatory certainty, are subject to potential market manipulation risks and may expose investors to loss of principal; (b) purchasers of the Uranium Receipts must be able to afford the loss of their entire purchase; (c) You will conduct Your own due diligence on the Uranium Receipt, not rely on any financial assumptions displayed in the Site, and are encouraged to consult with a financial advisor, attorney, accountant, tax advisor, and any other professional that can help You to

understand and assess the risks associated with any investment opportunity; and (d) past performance is not indicative of future results. 

c) You understand and acknowledge that all information concerning the uranium market, uranium use cases, and U3O8 provided on the Site is based on publicly available sources and that Uranium Digital makes no representations or warranties as to the accuracy or completeness of such information. 

d) You understand and acknowledge that Uranium Digital can freeze Uranium Receipts and reserves the right to freeze Your Uranium Receipts if Uranium Digital, in its sole and absolute discretion, determines that (i) You have violated any provision of the Uranium Digital Terms or (ii) You have violated any Applicable Laws. 

e) You understand and acknowledge that (a) eligibility to redeem the Uranium Receipt for Yellowcake is determined by maintaining a converter account with a Storage Facility Partner (as defined below), with eligibility for such accounts determined by such Storage Facility Partner in its sole discretion; (b) Uranium Digital makes no warranty or guarantee that any purchaser or holder of the Uranium Receipt will be able to redeem the Uranium Receipt for Yellowcake or issue Uranium Receipts by providing Yellowcake if such purchaser or holder does not have an eligible converter account; (c) the price of the Uranium Receipt may not track, have any correlation with, and may vary widely from the price of uranium; and (d) the price of Uranium Receipts may be impacted by issues affecting the price of uranium that are completely outside of Uranium Digital’s control, including, but not limited to, developments in the commercial uses of uranium, uranium-related regulations, and developments in uranium mining. 

f) You understand and acknowledge that Uranium Digital may update these UR Terms from time to time. 

5. Converting Uranium to Uranium Receipt 

i “Issuance” is the process by which eligible Customers transform verified Uranium reserves into Uranium Receipts. Verified Yellowcake held at accredited facilities is transferred to UDH’s Converter Account, where it is tokenized on-chain by minting new Uranium Receipts against the verified Yellowcake. 

ii In order to be eligible for an Issuance, UD may require Customers to maintain a minimum amount of Yellowcake (e.g., 20,000 pounds) stored at one of Uranium Digital’s approved Uranium storage facility partners, including, but not limited to, the Custodian, Cameco, or Orano Cycle (a “Storage Facility Partner”). 

iii Customers submit an Issuance request by navigating to the Issuance/Redemption tab on the Interface and selecting the Issuance option. Customers choose their verified converter account, enter the number of pounds of Yellowcake they would like to tokenize, and review the amount of Uranium Receipts that they will receive. Customers will then be taken to a review screen where they will review and confirm their request. Once an Issuance request is confirmed, it is final and irrevocable. 

iv Once an Issuance is initiated, the applicable number of Uranium Receipts is minted

during the next scheduled issuance window, either the 15th (if the 15th of a month is not a Business Day, then the next Business Day after the 15th of the month) or the final Business Day of the month. “Business Day” means a weekday on which banks are open for general banking business in the United States. The Yellowcake submitted for conversion is transferred to UDH’s Converter Account, and a corresponding amount of Uranium Receipts (one Uranium Receipt for one pound of Yellowcake) is minted and delivered to the Wallet. 

6. Redeeming Uranium Receipt for Uranium 

i “Redemption” is the process by which UR holder can physically settle their UR holdings to Uranium. Each Uranium Receipt represents one pound of Yellowcake, and upon redemption, the equivalent physical material is settled directly through Storage Facility Partner. 

ii Settlement of Redemption orders is processed twice a month, typically on the 15th (if the 15th of a month is not a Business Day, then the next Business Day after the 15th of the month) and the last Business Day of each month. 

iii In order to be eligible for a Redemption, a UR holder must: 

a) Hold a minimum amount of 20,000 Uranium Receipts; 

b) Be a Customer of Uranium Digital; 

c) Have a verified (by Uranium Digital) converter account at a Storage Facility Partner; and 

d) Complete any requested anti-money-laundering and anti-terrorist-financing procedures. 

iv Customers submit a Redemption request by navigating to the Issuance/Redemption tab on the Site and selecting the Redeem option. Customers choose their verified converter account, enter the number of Uranium Receipts they wish to redeem, and review the pounds of Yellowcake receivable along with the applicable redemption fee (the “Redemption Fee”). Customers will then be taken to a review screen where they will review and confirm their Redemption request. Once a Redemption request is confirmed, it is final and irrevocable. 

v Once a request is initiated, the Uranium Receipts that are requested for redemption will be placed in a blockchain based escrow smart contract. The escrowed Uranium Receipts are then burned upon settlement of the Uranium via a book-transfer in the Customer’s selected converter account . 

7. Use of Uranium Receipts: Fees and Price Estimates 

i As a condition to accessing or using the Site, You represent and warrant to Uranium Digital the following: 

a) if You are entering into these UR Terms as an individual, that You are at least 18 years old or of legal age in the jurisdiction in which You reside, have the legal

capacity to enter into these UR Terms and be bound by them, and are not otherwise barred from using the Site under Applicable Law; 

b) if You are entering into these UR Terms as an entity, then You must have the legal authority to accept these UR Terms on that entity’s behalf, in which case “you” (except as used in this paragraph) will mean that entity; 

c) You are the exclusive beneficial and/or legal owner of any Uranium Receipts or other digital asset or funds used or to be used for the purchase or sale of any digital asset on the Site, including Uranium Receipts; 

d) You will comply with all Applicable Laws when using the Site; e) You are not located in a country that is subject to a U.S. Government embargo; 

f) You are not listed on any U.S. Government list of prohibited, sanctioned, or restricted parties; 

g) You are solely responsible for ensuring that Your access and use of the Site in such country, territory, or jurisdiction does not violate any Applicable Laws; 

h) You will not use any software or networking techniques, including use of a Virtual Private Network (VPN) to modify Your internet protocol address or otherwise circumvent or attempt to circumvent this prohibition; 

i) You are not a resident, national, or agent of Iran, North Korea, Syria, and the Crimea, Donetsk People’s Republic and Luhansk People’s Republic regions of Ukraine or any other country to which the United States or any other country to which the United States, the United Kingdom or the European Union embargoes goods or imposes similar sanctions (collectively, “Restricted Territories”); 

j) You have not been identified as a Specially Designated National or placed on any sanctions lists by the U.S. Treasury Department’s Office of Foreign Assets Control, the U.S. Commerce Department, or the U.S. Department of State (collectively, “Sanctions Lists Persons”); and You will not use our Website to conduct any illegal or illicit activity; 

k) You do not intend to and will not transact with any Restricted Person or Sanctions List Person; 

l) You do not, and will not, use VPN software or any other privacy or anonymization tools or techniques to circumvent, or attempt to circumvent, any restrictions that apply to the Website or App; and 

m) Your access to the Site is not (a) prohibited by and does not otherwise violate or assist You to violate any domestic or foreign law, rule, statute, regulation, by-law, order, protocol, code, decree, or another directive, requirement, or guideline, published or in force that applies to or is otherwise intended to govern or regulate any person, property, transaction, activity, event or other matter, including any rule, order, judgment, directive or other requirement or guideline issued by any domestic or foreign federal, provincial or state, municipal, local or other

governmental, regulatory, judicial or administrative authority having jurisdiction over Uranium Digital, You, the Site, or as otherwise duly enacted, enforceable by law, the common law or equity (collectively, “Applicable Laws”); or (b) contribute to or facilitate any illegal activity. 

ii In connection with Your use of the Site, including any interactions or functionality of the Uranium Receipts, You are required to pay all fees necessary for interacting with blockchain networks, including “gas” fees or other network transaction fees, as well as all other fees reflected on the Site or charged by an Account Provider. Network transaction fees change, often unpredictably, and their price is entirely outside of the control of Uranium Digital. Although we attempt to provide accurate fee information, this information reflects our estimates of fees, which may vary from the actual fees paid to use the Site and interact with the blockchain networks. You acknowledge that under no circumstances will a transaction be invalidated, revocable, retractable, or otherwise unenforceable on the basis that the gas fee for the given transaction was unknown, too high, or otherwise unacceptable to a User. You also acknowledge and agree that the gas fee is non-refundable under all circumstances. 

8. Freezes and Upgrades 

i Uranium Digital may, in its sole discretion, upgrade the smart contract or program governing UR. In the event a new version of UR is issued and the previously issued version of the receipt has been deprecated, Uranium Digital shall issue to UR holders an amount of the new version of UR representing the same amount of U3O8 represented by their holdings of the previous version of UR to the Wallet address holding such older version of UR. In such an event, Uranium Digital will announce a “Snapshot” date and time whereby the amount of the new version of UR and Wallet address will be recorded as of that date. Any holders acquiring the deprecated version of UR after the Snapshot will not receive the new version of UR. 

ii Uranium Digital may freeze holders’ URs if Uranium Digital, in its sole and absolute discretion, determines that a UR holder has (i) violated any provision of the Uranium Digital Terms or (ii) violated any Applicable Laws. 

9. Risks 

By accessing or using the Site in any way, You represent and warrant that: 

i You understand the inherent risks associated with cryptographic systems, blockchain-based networks, and digital assets, including but not limited to the usage and intricacies of native digital assets, like Solana (SOL) and Ether (ETH); smart contract-based tokens, such as those that follow the Ethereum Token Standard; systems that interact with blockchain-based networks; the risk of hardware, software, and internet connection and service issues; the risk of malicious software introduction; and the risk that third parties may obtain unauthorized access to information stored within Your Wallet. Uranium Digital does not own or control any of the underlying software through which blockchain networks are formed. In general, the software underlying blockchain networks, including but not limited to the Solana blockchain and the Ethereum blockchain, is open source, such that anyone can use, copy, modify, and distribute it. 

ii You acknowledge and agree (a) that Uranium Digital is not responsible for the operation

of the software and networks underlying the Site or any products or services provided by Third Party Service Providers, (b) that there exists no guarantee of the functionality, security, or availability of such software, services or networks, and (c) that the underlying networks are subject to sudden changes in operating rules, such as those commonly referred to as “forks,” which may materially affect the Site. 

iii You understand the App does not store, send, or receive digital assets. Any transfer of digital assets occurs within the supporting blockchain and not on the Uranium Digital Platform. Some transactions in digital assets shall be deemed to be made when recorded on a public ledger, which is not necessarily the date or time that You initiated the transaction. 

iv You understand blockchain networks use public/private key cryptography. You alone are responsible for Your Wallet and deposit account. We do not have access to Your Wallet. Your Wallet and related technology is maintained by the Account Provider, and we do not have any ability to retrieve or protect the assets stored in the Wallet. 

v You understand the Site and Your digital assets, including any Uranium Receipts, could be impacted by one or more regulatory inquiries or regulatory actions, which could impede or limit the ability of Uranium Digital to continue to make available any portion(s) of the Site that rely on any Uranium Digital proprietary software and, thus, could impede or limit Your ability to access or use the Site. 

vi A lack of use or public interest in the creation and development of distributed ecosystems could negatively impact the development of those ecosystems and related applications, and could therefore also negatively impact the potential utility or value of any digital assets. 

vii You acknowledge and understand that cryptography is an advancing field with advances in code cracking or other technical advancements, such as the development of quantum computers, which may present risks to digital assets and the Site and could result in the theft or loss of Your digital assets. To the extent possible, we intend to update the smart contracts related to the Site to account for any advances in cryptography and to incorporate additional security measures necessary to address risks presented by technological advancements. We may also freeze the platform in the event of a critical security problem, but this does not guarantee or otherwise ensure full security of the Site. 

viii You understand that blockchain networks such as the Solana or Ethereum blockchain remain under development, which creates technological and security risks when using the Site in addition to uncertainty relating to digital assets and transactions therein. You acknowledge that the prices and liquidity of digital assets are extremely volatile, and the cost of transacting on blockchain networks is variable and may increase at any time, which may impact any activities taking place on the blockchain networks, and which may result in price fluctuations or increased costs when using the Site. 

ix You understand that any use or interaction with the Site requires a comprehensive understanding of applied cryptography and computer science to appreciate the inherent risks, including those listed above. You represent and warrant that You possess relevant knowledge and skills. Any reference to a type of digital asset on the Site does not indicate our approval or disapproval of the technology on which the digital asset relies and should not be used as a substitute for Your understanding of the risks specific to each type of

digital asset. 

x You understand blockchain-based transactions entered into in connection with the Site are irreversible and final, and there are no refunds. Accordingly, losses due to fraudulent or accidental transactions may not be recoverable. You acknowledge and agree that You will access and use the Site at Your own risk. By using or accessing the Site, You represent and warrant that You have been, are, and will be solely responsible for making Your independent appraisal and investigations into the risks of a given transaction and the underlying digital assets. You represent that You have sufficient knowledge, market sophistication, professional advice, and experience to make Your evaluation of the merits and risks of any transaction conducted in connection with the Site or any digital asset. You accept all consequences of using the Site. All transaction decisions are made solely by You. Notwithstanding anything in these UR Terms, we accept no responsibility whatsoever for, and will in no circumstances be liable to You in connection with, Your use of the Site for performing digital asset transactions. 

xi You understand we must comply with Applicable Laws, which may require us to, upon request by government agencies, take certain actions or provide information, which may not be in Your best interests. 

xii You understand that the Site and the Uranium Receipt remain under development, which creates technological and other risks when using or accessing the Site. These risks include, among others, withdrawals and deposits resulting from the servers of Uranium Digital being offline or an incorrect display of information on the Site in the case of server errors. You acknowledge that these risks may have a material impact on Your transactions using the Site, which may result in, among other things, failing to fulfill transactions at Your desired price or at all. 

xiii The Site may rely on third-party platforms to perform transactions with respect to any digital assets. If we are unable to maintain a good relationship with such platform providers; if the terms and conditions or pricing of such platform providers change; if we violate or cannot comply with the terms and conditions of such platforms; or if any of such platforms loses market share or falls out of favor or is unavailable for a prolonged period of time, Your access to and use of the Site may be affected. 

xiv You hereby acknowledge and agree that Uranium Digital will have no responsibility or liability for the risks set forth in this Section 9. You hereby irrevocably waive, release, and discharge all claims, whether known or unknown to You, against Uranium Digital, its affiliates, and their respective shareholders, members, directors, officers, employees, agents, and representatives, suppliers, and contractors related to any of the risks set forth in this Section 9.

Uranium Digital is not registered with the U.S. Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, or under the securities, commodities, or derivatives laws of any other jurisdiction. Uranium Receipts are speculative and may be illiquid or have no value. You should be able to afford the loss of your entire purchase. Past performance is not indicative of future results. Takara Ventures Ltd., together with its affiliates trading as Uranium Digital, is a technology company that develops software infrastructure. It is not a financial services company, intermediary, agent, advisor, or custodian, and owes no fiduciary duties to users of this site. This site is not available to persons in Restricted Territories or to persons located in, or residents of, the United States or India. Information on this site is for informational purposes only and does not constitute financial, legal, tax, or other professional advice.