Risk Disclosure Statement

THIS RISK DISCLOSURE STATEMENT MUST BE READ IN ITS ENTIRETY BEFORE PARTICIPATING IN ANY EVALUATION PROGRAM OFFERED BY THE BLACK VAULT FUNDING, INC.

1. Simulated Trading Environment

All trading activity conducted through The Black Vault Funding, Inc. platform is performed in a simulated, paper-trading environment. No real money, real securities, real futures contracts, or real market positions are established, executed, or maintained on your behalf. Account balances, profit and loss figures, drawdown metrics, and all other financial data displayed on the platform are entirely simulated and have no monetary value.

The term "funded account" or similar designations used in connection with evaluation program outcomes refers solely to a program status within the Company's internal evaluation framework. It does not represent the establishment of a real brokerage account, a real funded trading account, or any arrangement involving actual capital allocation by the Company or any third party.

2. No Investment Advisory Services

The Black Vault Funding, Inc. is not a registered investment adviser, broker-dealer, futures commission merchant, commodity pool operator, or commodity trading adviser under federal or state law, including the laws of the State of Minnesota. Nothing provided by the Company, including platform content, scoring results, performance feedback, or educational materials, constitutes investment advice, trading recommendations, or a solicitation to trade any financial instrument.

3. Futures Trading Risk

The evaluation programs offered by the Company involve simulated futures trading. You should be aware that futures trading, even in a simulated environment intended to mirror real markets, involves understanding the following risks inherent in live futures markets:

• Leverage Risk: Futures contracts are highly leveraged instruments. A small adverse price movement can result in a loss substantially greater than the initial margin requirement. In live markets, losses can exceed your account balance.
• Volatility Risk: Futures markets can experience rapid and extreme price movements due to economic events, geopolitical developments, supply disruptions, or speculative activity. These movements may occur without warning and may exceed historical volatility ranges.
• Liquidity Risk: During certain market conditions, it may be difficult or impossible to execute an order at the desired price. Thin markets, limit moves, and electronic system congestion can all contribute to execution risk.
• Market Gap Risk: Markets may open significantly higher or lower than the prior session's close, resulting in gap risk that cannot be managed with stop orders placed prior to the gap.
• Overnight and Weekend Risk: Positions held overnight or over weekends are exposed to market-moving events that occur outside of regular trading sessions, including news, earnings, government reports, and geopolitical events.

4. Technology and Platform Risk

The platform is provided over the internet and is subject to service interruptions, data feed delays, connectivity failures, software defects, and third-party service outages beyond the Company's control. The Company does not guarantee uninterrupted access to the platform. A technology failure does not automatically entitle a participant to a refund, extended evaluation period, or any other remedy except as expressly stated in the Refund Policy.

5. Simulated Results Do Not Predict Real Performance

Performance achieved in the Company's simulated evaluation environment does not represent, guarantee, or predict results that would be achieved in live trading with real money. Simulated trading occurs under conditions that may differ materially from live market conditions, including but not limited to: execution at the exact simulated price (which may not be achievable in live markets due to slippage), the absence of psychological pressure associated with real capital at risk, and the absence of real brokerage costs, margin requirements, and regulatory constraints.

Past performance in any simulated evaluation, including prior evaluation completions, passed challenges, or archived simulated account histories, is not indicative of future results in either simulated or live trading environments.

6. No Guarantee of Program Completion or Funded Status

Participation in an evaluation program does not guarantee passage of the evaluation, achievement of funded account program status, or receipt of any simulated profit-sharing allocation. The Company reserves the right to review, audit, and make final determinations regarding all account performance in accordance with the published Evaluation Rules and Trader Agreement. The Company may exercise discretion in reviewing accounts that exhibit trading patterns inconsistent with the intent and spirit of the evaluation program.

7. Program Fee Risk

Evaluation program fees are paid for access to the platform and the evaluation framework, not as a deposit or investment. All sales are final as set forth in the Refund Policy. You risk the full amount of the program fee paid in the event that you do not complete the evaluation program, violate evaluation rules, or choose to discontinue participation for any reason.

8. Regulatory Uncertainty

The regulatory status of simulated funded trading programs may be subject to evolving interpretation by federal and state regulatory agencies. Changes in applicable law or regulatory guidance could affect the structure, availability, or terms of programs offered by the Company. The Company will make reasonable efforts to comply with applicable law and will communicate material changes to its programs.

9. Minnesota Consumer Disclosure

In compliance with the Minnesota Consumer Fraud Act (Minn. Stat. § 325F.69) and the Minnesota Deceptive Trade Practices Act (Minn. Stat. § 325D.44), the Company discloses that: (a) all programs involve simulated accounts only; (b) no real trading capital is provided or at risk; (c) the Company does not guarantee any financial outcome; and (d) all material terms, rules, and conditions are published on this platform and incorporated by reference into any program agreement.

10. Acknowledgment

By registering for or participating in any evaluation program, you acknowledge that you have read, understood, and accepted this Risk Disclosure Statement in full. You acknowledge that you are participating voluntarily and that the decision to participate is made solely on your own judgment. The Company makes no representations regarding the suitability of its programs for any individual.

Contact

For questions regarding this Risk Disclosure Statement, contact: The Black Vault Funding, Inc. at [email protected]