Addendum to the General Terms & Conditions of Young Platform S.p.A. pursuant to Article 16-bis (the “Administered Savings T&Cs“)

Last updated: 9 November 2026

These Administered Savings Terms & Conditions (the “Administered Savings T&Cs“) supplement the General Terms & Conditions of Young Platform S.p.A. (the “Terms & Conditions“) and form an integral and essential part thereof pursuant to Article 16-bis. Capitalised terms not defined in the Administered Savings T&Cs have the meaning given to them in the Terms & Conditions.

Purpose, scope and precedence

1.1 The Administered Savings T&Cs set out the terms, conditions and procedures under which Young Platform S.p.A. (the “Company“), acting as withholding agent, applies the administered savings regime provided for by Article 6 of Legislative Decree No. 461 of 21 November 1997, its implementing provisions and the corresponding provisions of the consolidated acts replacing it (the “Administered Regime“) to miscellaneous income (redditi diversi) arising from the Crypto-assets held by the User on the Platform.

1.2 The Administered Savings T&Cs apply in addition to the Terms & Conditions. In the event of any conflict, the provisions of the Administered Savings T&Cs shall prevail over those of the Terms & Conditions with regard to the Administered Regime and the related tax obligations.

1.3 The Administered Regime applies from 1 January 2027 and shall in no event apply to earlier tax years. Until that date, the Declarative Regime alone continues to apply.

Definitions

For the purposes of the Administered Savings T&Cs, in addition to the terms defined in the Terms & Conditions (including Opt-in, Opt-in Form, Revocation Form, Declarative Regime and Tax Residence), the following terms shall have the meanings set out below:

• Tax Cost (purchase price): the cost or purchase value of the Crypto-assets recognised for tax purposes, determined in accordance with Article 6;
• Weighted Average Cost: the method by which, under the Administered Regime, the Tax Cost of Crypto-assets of the same denomination is determined;
• Effective Date: the date from which the Administered Regime applies to the Relationship, determined in accordance with Articles 4 and 15;
• Documented Ownership Address: a cryptographic address external to the Platform which the Company has verified as belonging to the User in accordance with the procedures set out in Article 7.4;
• Taxable Transaction: any transaction which, under applicable law, gives rise to the realisation of miscellaneous income from Crypto-assets, as identified in Article 5.3;
• Tax Cost Recognition Procedure: the procedure, available in the tax section of the App, through which the User documents the Tax Cost of Crypto-assets transferred to the Platform from external addresses;
• Funding: the sums required to pay the substitute tax owed by the User;
• Relationship: the custody and administration relationship for Crypto-assets under Article 75 of MiCAR held by the User with the Company and associated with the User’s Wallet; the DeFi Wallet does not form part of the Relationship.

Persons to whom the Administered Regime applies

3.1 The Administered Regime applies to Users falling within one of the following categories: natural persons holding Crypto-assets other than in the course of a business, trade or profession; non-commercial entities, in respect of Crypto-assets held outside any commercial activity they may carry on; and simple partnerships (società semplici) and equivalent entities for income tax purposes, provided that such Users: (i) are tax resident in Italy and have exercised the Opt-in in accordance with Article 4; or (ii) have their registered residence outside Italy, do not hold Crypto-assets through a permanent establishment in Italy and are subject to the Administered Regime in accordance with Article 15.

3.2 The Administered Regime does not apply to corporations, general partnerships, limited partnerships and equivalent entities, nor to Users holding Crypto-assets in the course of a business; the Declarative Regime applies to such Users.

3.3 The User shall declare to the Company their Tax Residence and that they hold the Crypto-assets other than in the course of a business or commercial activity. The User shall notify the Company of any change within 30 (thirty) days.

3.4 The following are excluded from the Administered Regime and remain subject to the Declarative Regime: (i) transactions carried out through the DeFi Wallet; (ii) Crypto-assets covered by the portfolio management service. For matters not expressly governed by the Administered Savings T&Cs, the identification of the Crypto-assets and transactions subject to the Administered Regime, and of the related tax effects, shall be governed by Article 6 of Legislative Decree No. 461 of 21 November 1997 and by the legislation in force from time to time, as interpreted by the practice of the Italian Revenue Agency (Agenzia delle Entrate).

3.5 The Company determines the User’s Tax Residence on the basis of the User’s declaration under Article 3.3 and of the data collected during customer due diligence. A User whose registered residence is in Italy is deemed to be tax resident in Italy unless they demonstrate that they are tax resident outside Italy in accordance with this Article; Article 15 applies to a User whose registered residence is outside Italy. A User wishing to rely on their tax residence outside Italy, including for the purposes of double taxation conventions, shall provide the Company, in accordance with Article 15.3, with a certificate of tax residence issued by the authority of the State of residence or other appropriate documentation; a User whose registered residence is in Italy shall also provide documentation sufficient to rebut the presumption of residence in Italy under Article 2 of the TUIR. In the case of residence in more than one State, the Tax Residence is determined according to the criteria of the applicable double taxation convention, on the basis of the documentation provided by the User. Where the User’s declaration is inconsistent with the data held by the Company, the Company may request clarification and documentation and, failing this, apply this Article on the basis of the data resulting from customer due diligence. The burden of proving their Tax Residence lies with the User, who bears the consequences of any inaccurate declaration in accordance with Article 16.2.

Exercise of the Opt-in and effective date

4.1 A User who is a natural person, non-commercial entity or simple partnership tax resident in Italy and who wishes to apply the Administered Regime exercises the Opt-in by completing and accepting the Opt-in Form. The Opt-in Form is offered to new Users at the end of the customer due diligence procedure following registration and, if not signed at that stage, is subsequently available in the tax section of the App. Acceptance of the Terms & Conditions, including the version referring to the Administered Savings T&Cs, does not constitute exercise of the Opt-in. The Company makes the Administered Savings T&Cs available to the User before the Opt-in Form is signed. In the absence of the Opt-in, the Declarative Regime applies. For Users whose registered residence is outside Italy, the Administered Regime applies without the need to exercise the Opt-in, in accordance with Article 15.

4.2 The Opt-in takes effect: (i) if exercised by a new User at the end of the customer due diligence procedure, at the same time as the Relationship is opened, from 1 January 2027 or, if later, from the date on which the Relationship is opened; (ii) if exercised by a new User at a later time than that referred to in point (i), or by a User who already held an account on the date on which the version of the Terms & Conditions referring to the Administered Savings T&Cs entered into force, from 1 January of the tax year following that in which it is exercised. The Opt-in takes effect for the entire tax year and is tacitly renewed unless revoked in accordance with Article 14.

4.3 The Company keeps a record of the Opt-in (date and time, version of the documents accepted, authentication method) and makes it available to the User on a durable medium in the User Area.

Role of the Company as withholding agent

5.1 Under the Administered Regime, the Company, on the basis of the data it holds and the data provided by the User: (i) determines, for each Taxable Transaction, the capital gain or loss realised; (ii) applies the substitute tax at the rate provided for by the legislation in force from time to time; (iii) pays the tax to the Treasury within the statutory deadlines; (iv) issues to the User the certifications referred to in Article 13; (v) makes the reports to the tax authorities required by applicable law.

5.2 Under the Administered Regime, income realised within the Relationship need not be reported by the User in their tax return, unless otherwise provided by applicable law. While the Administered Regime is in force, the User is not subject, in respect of the Crypto-assets held within the Relationship, to the tax monitoring obligations under Article 4 of Decree-Law No. 167 of 28 June 1990, within the limits of paragraph 3 of that Article 4.

5.3 Taxable Transactions are transactions in Crypto-assets that give rise to the realisation of miscellaneous income under Article 67(1)(c-sexies) of the TUIR and applicable law, as interpreted by the practice of the Italian Revenue Agency.

5.4 The substitute tax is not consideration payable to the Company and is paid to the Treasury on behalf of the User. The amount applied to each transaction is shown in the transaction summary available in the App and in the transaction history available in the User Area.

Tax Cost

6.1 Under the Administered Regime, the Tax Cost of Crypto-assets of the same denomination is determined using the Weighted Average Cost method. The User acknowledges that this method may differ from the method applicable under the Declarative Regime.

6.2 For the purposes of calculating the Weighted Average Cost of Crypto-assets purchased on the Platform, including those already held in the Wallet on the Effective Date, the Tax Cost is determined by reference to the consideration paid, excluding the related purchase charges, pursuant to Article 68(9-bis) of the TUIR, as shown in the Company’s records.

6.3 For Crypto-assets transferred to the Platform from other intermediaries or from non-custodial wallets, including those already held in the Wallet on the Effective Date, the Tax Cost is recognised only if documented by the User through the Tax Cost Recognition Procedure and within the time limits set out in Article 6-bis. Otherwise, the Tax Cost is deemed to be zero, with the result that the entire consideration is taxed upon realisation.

6.4 Any revaluation of the cost of Crypto-assets permitted by law is recognised only if the User provides the Company with evidence of it, and has the effects provided for by applicable law. Capital losses on Crypto-assets whose cost has been revalued are not deductible; to this end, the Company keeps a separate record of them.

6.5 The Tax Cost Recognition Procedure requires the upload of documentation capable of evidencing the cost incurred (for example, account statements or reports issued by other crypto-asset service providers), within the time limits set out in Article 6-bis. The Company may reject incomplete or unreliable documentation; a mere declaration by the User of the cost incurred is not sufficient. The fees for the Procedure are set out on Young Platform’s official “Fees and Pricing” page.

6.6 Crypto-assets allocated to the User as a result of airdrops, forks or other distributions connected with the Crypto-assets held are recorded in the Relationship with the Tax Cost provided for by applicable law.

6.7 For Crypto-assets acquired by the User through inheritance, the Tax Cost is equal to the value finally determined or, failing that, declared for inheritance tax purposes; for Crypto-assets received as a gift, it is equal to the donor’s cost, in both cases on the basis of the documentation provided by the User.

6-bis Regularisation of the Tax Cost of deposits

6-bis.1 For Crypto-assets transferred to the Platform from external addresses before the Effective Date (the “Prior Deposits“), the Tax Cost is deemed to be zero unless regularised through the Tax Cost Recognition Procedure. It is the User’s responsibility to exclude from regularisation any Prior Deposits relating to Crypto-assets no longer held. Regularisation is possible until the first transaction carried out by the User on or after the Effective Date, even if it does not concern the deposited Crypto-assets, with the exception of deposits of Fiat Currencies or Crypto-assets and withdrawals of Fiat Currencies. Upon execution of that transaction, the zero Tax Cost of any Prior Deposits not regularised becomes final.

6-bis.2 For Crypto-assets transferred to the Platform from external addresses on or after the Effective Date, the Tax Cost is deemed to be zero from the time they are credited, unless regularised through the Tax Cost Recognition Procedure. Regularisation is possible until the first transaction concerning the deposited Crypto-assets, whether or not it is a Taxable Transaction. Upon execution of that transaction, the zero Tax Cost becomes final.

6-bis.3 Where a User who has initiated the Tax Cost Recognition Procedure fails, for more than 30 (thirty) days, to carry out any of the actions required to complete it, such as uploading documentation or responding to requests for additional information, the Company may close the procedure and shall notify the User accordingly.

Deposits, withdrawals and transfers

7.1 The deposit of Crypto-assets into the Wallet from external addresses does not constitute a Taxable Transaction; Articles 6.3 and 6-bis apply.

7.2 The withdrawal of Crypto-assets to a Documented Ownership Address does not constitute a Taxable Transaction. At the User’s request, the Company provides evidence of the Tax Cost of the Crypto-assets withdrawn.

7.3 Under the Administered Regime, the withdrawal or transfer of Crypto-assets to third-party addresses is not permitted, save as provided for in Article 17.3. The withdrawal or transfer to an external address whose ownership by the User has not been documented in accordance with Article 7.4 is suspended until the verification is completed and, failing completion, is not executed; such suspension or non-execution does not constitute a breach by the Company. Article 17 of the General Terms & Conditions remains unaffected.

7.4 The Company verifies ownership of an external address by means of a cryptographic signature or another procedure indicated in the App, as provided for in Article 17.4 of the General Terms & Conditions of the Platform.

7.5 The on-chain delivery of Crypto-assets to a Pre-registered External Address in connection with the Services referred to in Articles 77 and 78 of MiCAR is treated as a withdrawal in accordance with the preceding paragraphs.

7.6 The transfer of Crypto-assets from the Wallet to the User’s DeFi Wallet does not constitute a Taxable Transaction, and the Company provides evidence of the related Tax Cost; transactions subsequently carried out through the DeFi Wallet are subject to the Declarative Regime, including the tax monitoring obligations. A transfer from the DeFi Wallet to the Wallet is treated as a deposit from an external address under Article 7.1.

Conversions between Crypto-assets

8.1 Conversions between Crypto-assets are Taxable Transactions in the cases provided for by applicable law, as interpreted by the practice of the Italian Revenue Agency. In such cases, the Company applies the substitute tax.

Bonuses, rewards and promotions

9.1 Crypto-assets allocated to the User as a bonus or under any other promotional initiative, including any initiative refunding part of the tax applied, are treated for tax purposes in accordance with applicable law and the rules of the individual initiative.

Delisting and extraordinary events

10.1 The conversion into Fiat Currencies or other Crypto-assets carried out by the Company in the event of delisting, as part of the measures provided for in the Terms & Conditions, is relevant for tax purposes as if it were a transaction instructed by the User; under the Administered Regime, the Company applies the substitute tax due.

Capital losses

11.1 Under the Administered Regime, capital losses realised within the Relationship are offset by the Company against capital gains subsequently realised within the same Relationship, in the same tax year and in subsequent tax years up to the fourth, within the limits and in the manner provided for by applicable law. Such offsetting does not give rise to a refund of the substitute tax already applied.

11.2 In the event of revocation of the Opt-in or termination of the Relationship, the Company certifies to the User the capital losses not yet offset, stating the tax year in which they were realised, so that the User may use them within the limits provided for by law.

Funding, collection of tax and suspensions

12.1 By accepting the Administered Savings T&Cs, the User authorises the Company to withhold the substitute tax from the consideration for the Taxable Transaction or, where the transaction generates proceeds in Crypto-assets, to withhold, before crediting the Wallet, a quantity of Crypto-assets whose equivalent value in euro is equal to the tax due, or, where this is not possible, to debit it from the Fiat Currency balance of the Wallet or, for Users holding a Young Platform Payment Account, from the balance of that account. Where the withholding of Crypto-assets itself constitutes a Taxable Transaction, the Company determines the quantity to be withheld taking into account the substitute tax due on it as well.

12.2 Where the balances referred to in Article 12.1 are insufficient, the Company invites the User to provide the Funding in the manner indicated in the App and may suspend execution of the transaction until the Funding has been provided. Such suspension does not constitute a breach by the Company.

Reporting and certifications

13.1 Under the Administered Regime, the Company makes available to the User, by the end of March of the following year or within 12 (twelve) business days of a request, the annual statement of the taxes applied and paid.

Revocation of the Opt-in

14.1 The User may revoke the Opt-in at any time by completing and accepting the Revocation Form available in the tax section of the App. The revocation takes effect from the tax year following that in which it is notified to the Company. The regime applicable to each tax year is determined by the last choice made by the User by 31 December of the preceding tax year.

14.2 The Administered Regime continues to apply until the revocation takes effect. From that date, the Declarative Regime applies and the Company notifies the User of the tax values of the Crypto-assets held and of the capital losses not offset in accordance with Article 11.2.

14.3 Revocation does not entail withdrawal from the Terms & Conditions. A User who has revoked the Opt-in may exercise it again through the Opt-in Form, with the effects set out in Article 4.2.

Users resident outside Italy

15.1 For Users whose registered residence, as resulting from customer due diligence, is outside Italy, the Administered Regime applies from 1 January 2027 or, if later, from the date on which the Relationship is opened, without the need to exercise the Opt-in; the Company applies the substitute tax to income deemed to be produced in Italy under the TUIR, including income arising from Crypto-assets held in custody by the Company.

15.2 Such Users may waive the Administered Regime and opt for the Declarative Regime by completing and accepting the Revocation Form. The waiver takes effect from the first transaction following receipt of the Form by the Company.

15.3 The User may at any time provide the Company, at [email protected], with the documentation referred to in Article 3.5 evidencing their tax residence outside Italy. Such documentation is not required for the waiver referred to in Article 15.2; its submission does not in itself terminate the Administered Regime, which in any event requires the Revocation Form to be signed, nor does it change the regime applied to a User whose registered residence is in Italy. Following the waiver, the User shall independently fulfil the tax obligations provided for by applicable law, taking into account their Tax Residence and any applicable double taxation conventions. Taxes applied and paid before the waiver takes effect may not be disputed with the Company, which has acted on the basis of the legislation in force and the information available to it, without prejudice to the User’s right to claim a refund from the tax authorities in the cases provided for by law.

15.4 A User who has waived the Administered Regime under Article 15.2 may request that it be applied again by completing and accepting the Opt-in Form, with effect from 1 January of the tax year following that in which the Form is signed.

15.5 The User is solely responsible for notifying the Company, in accordance with Article 3.3, of any change in their Tax Residence or registered residence. In the absence of such notification, the Company shall rely on the data and declarations most recently provided by the User and shall continue to apply the existing regime. A User who has transferred their Tax Residence outside Italy may avail themselves of Article 15.2.

Obligations and liability

16.1 The User shall provide, within the time required, the data and documentation necessary for the application of the Administered Regime.

16.2 In the event of inaccurate or incomplete information provided by the User, any tax not applied or applied in a lower amount, together with the related penalties and interest, shall be recovered solely from the User, including by debiting the Wallet. The Company shall not be liable for any determination of tax made on the basis of data or documents provided by the User that prove to be inaccurate, incomplete or untrue.

16.3 Information provided by the Company on tax matters does not constitute tax advice.

16.4 Where, for reasons not attributable to the User, the substitute tax has not been applied or has been applied in an amount lower or higher than that due, the Company shall make the necessary adjustment by recovering from the User only the additional tax due, without any penalties or interest being charged to the User, or by re-crediting to the User any tax applied in excess, in the manner permitted by law.

16.5 The User declares that, for tax years preceding the Effective Date, they have fulfilled the reporting and payment obligations relating to income arising from Crypto-assets, and shall hold the Company harmless from any claim, penalty or charge arising from failure to fulfil such obligations.

Termination of the Relationship

17.1 Termination of the Relationship, for any reason, entails termination of the Administered Regime. The Company issues to the User a certification of the tax values of the Crypto-assets transferred or returned and of the capital losses not offset in accordance with Article 11.2.

17.2 The conversion of Crypto-assets into Fiat Currencies carried out upon closure of the Relationship constitutes a Taxable Transaction, and the Company withholds the substitute tax from the related proceeds. A transfer in kind to a Pre-registered External Address is governed by Article 7.

17.3 The transfer of Crypto-assets to heirs or successors by inheritance does not constitute a transfer for consideration; the Tax Cost is determined in accordance with Article 6.7. The same applies to a transfer by way of gift, which is recognised as such provided that the User produces the deed of gift or other appropriate documentation; otherwise, the transfer is treated as a transfer for consideration.

Fees

18.1 The fees and prices relating to the Administered Regime, including those relating to the Tax Cost Recognition Procedure, are set out on Young Platform’s official “Fees and Pricing” page.

Amendments

19.1 The Administered Savings T&Cs may be amended in accordance with Article 18 of the Terms & Conditions. Amendments required by tax legislation apply from the date on which such legislation takes effect.

19.2 Exercise of the Opt-in always requires the Opt-in Form to be completed and accepted, and cannot result from the acceptance, including tacit acceptance, of amendments to the Terms & Conditions or to the Administered Savings T&Cs.

Final provisions

20.1 Under both the Administered Regime and the Declarative Regime, the application of the Stamp Duty referred to in Article 16 of the Terms & Conditions and the reporting required by Directive (EU) 2023/2226 (DAC8) and the related transposing legislation remain unaffected.

20.2 For all matters not governed by the Administered Savings T&Cs, the Terms & Conditions and the legislation in force shall apply.

20.3 References in the Administered Savings T&Cs to statutory provisions shall also be construed as references to the provisions of the consolidated acts replacing them from 1 January 2027 and, in particular: to Article 306 of Legislative Decree No. 117 of 19 June 2026 in respect of Article 6 of Legislative Decree No. 461/1997; to Article 307 of the same decree in respect of Article 7 of Legislative Decree No. 461/1997; to Article 76(1)(i) and Article 77(11) of the same decree in respect of Article 67(1)(c-sexies) and Article 68(9-bis) of the TUIR; to Article 304(7) of the same decree in respect of the substitute tax rates; to Articles 11, 18, 58 and 229 to 241 of Legislative Decree No. 141 of 5 August 2026 in respect of Article 10 of Legislative Decree No. 461/1997, Articles 1 and 4 of Decree-Law No. 167/1990 and the legislation on the automatic exchange of information on crypto-assets; and to the Schedule annexed to the consolidated act referred to in Legislative Decree No. 123 of 1 August 2025 in respect of Article 13 of the Schedule annexed to Presidential Decree No. 642/1972.