ANNEX I – EARLY PAYMENT OF TRANSACTIONS

1. Definitions

1.1. Subsidiarily apply to this Annex all the obligations and responsibilities of the ESTABLISHMENT provided for in the Agreement, as well as their definitions.

1.2. The definitions that allow a better understanding of this Annex are indicated below by the first capital letter:

"Accept": broad and general acceptance by the ESTABLISHMENT of the applicable conditions for the Anticipation, in accordance with the established forms.

"Anticipation": advance payment to the ESTABLISHMENT of the Net Amount due due to the execution of Transactions in the credit modality.

"Receivables": units of receivables arising from existing or future credit or debit Transactions, which may be subject to Advance.

"Anticipation Fee": additional fee to be paid by the ESTABLISHMENT to APPMAX, levied on the Net Transaction Value, due to the Advance of Receivables.

2. Advance Payment of Transactions

2.1. The ESTABLISHMENT may, at its sole discretion and at any time, stipulate the amount of Receivables that it intends to anticipate, provided that there are no encumbrances or encumbrances levied on the Receivables.

2.1.1. APPMAX may, if it deems feasible and at its sole discretion, carry out the Advance payment of Transactions, upon prepayment or assignment of Receivables.

2.1.2. For the Advance payment of Transactions, APPMAX may request the sending of additional information and documents, in addition to those provided in the Registration.

2.2. The Anticipation to the ESTABLISHMENT may be carried out only upon demand of the ESTABLISHMENT, according to the frequency and Anticipation Rate agreed between the Parties.

2.3. The contracting of the Anticipation will be considered valid from the acceptance of the ESTABLISHMENT in the Register or in the APPMAX System (as applicable), and will remain in force during the agreed term.

2.3.1. The prior approval of the Advance request does not constitute any guarantee that APPMAX will approve future requests from the ESTABLISHMENT, and APPMAX will be responsible for approving or not each of the requests made, at its sole discretion.

2.4. With the formalization of the Advance, the credit rights arising from the Transactions will be transferred, so that APPMAX will become the sole and exclusive creditor of the assigned Receivables, covering all guarantees, privileges and prerogatives.

2.4.1. In order to formalize the Advance, the ESTABLISHMENT hereby authorizes APPMAX to carry out the transfer of ownership of the Receivables assigned to the Registration System, performing all the necessary acts for that.

3. Authorization of the ESTABLISHMENT

3.1. The ESTABLISHMENT hereby authorizes APPMAX to consult the Registration System, so that it can have access to all information related to the Receivables of any Accrediting or Sub-accrediting institution, including the number of Transactions, payment frequency and existence of encumbrances or encumbrances.

3.2. In the impossibility of accessing the receivables schedules informed by the Acquirers and Sub-acquirers, by APPMAX, the ESTABLISHMENT undertakes to make available the information of the Transactions carried out by the respective Acquirers or Sub-acquirers.

3.3. The ESTABLISHMENT hereby authorizes APPMAX to share the Receivables arising from the Transactions carried out in the APPMAX System, with financial institutions, investment funds or other creditors, which, as assignees, may enter into the Anticipation.

4. General Provisions

4.1. The Prepayment of Receivables will be made, at APPMAX's sole discretion, in accordance with the legislation in force and the rules of the Regulatory Bodies.

4.2. The Anticipation will only be approved by APPMAX, if the ESTABLISHMENT does not have debts, encumbrances or encumbrances registered in the Registration System.

4.2.1. The existence of restrictions, guarantees or any other operation carried out by the ESTABLISHMENT in relation to the Receivables, may lead to the non-approval of the Advance.

4.2.2. In this case, the Anticipation may be partially carried out, if, after the payment of the amounts due to such creditors, the ESTABLISHMENT still has Receivables subject to assignment.

4.3. The ESTABLISHMENT is responsible for the validity and legitimacy of the Transactions. In case of debit, reversal or cancellation of Transactions, including by Chargeback, the amounts object of Advance will be automatically offset with future Receivables arising from other Transactions carried out by the ESTABLISHMENT.

4.3.1. To enable compensation, APPMAX may register the assignment or encumbrance in the Registration System, against future Receivables of the ESTABLISHMENT and/or Related Establishments referring to transactions carried out in the APPMAX System or in other Accreditation or Sub-accreditation institutions.

4.3.2. In the absence of future Receivables, the ESTABLISHMENT must pay the reversed Transactions, within the period indicated by APPMAX, under penalty of contractually stipulated late payment charges, and without prejudice to the termination of the Agreement and the reimbursement of additional indemnity.

4.4. The terms and conditions provided for in this Annex may be amended in the same ways provided for in the Agreement.