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Securities trading in the United States is offered to self-directed clients by Webull Financial LLC, a U.S. broker-dealer registered with the Securities and Exchange Commission (SEC). Webull Financial LLC is a member of the Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC), The New York Stock Exchange (NYSE), NASDAQ, and Cboe EDGX Exchange, Inc (CBOE EDGX). Webull Financial LLC is a member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 in any cash awaiting reinvestment). An explanatory brochure is available upon request or at www.sipc.org. Webull Financial LLC and its clearing firm Apex Clearing Corp have each purchased an additional insurance policy to provide clients with additional coverage beyond the SIPC limits. See the SIPC and Excess SIPC Disclosure for more information. Webull Technologies (Brazil) Ltda. is a Brazilian company with limited liability whose corporate purpose is (i) business management consulting activities; (ii) intermediation activities of services and business in general; and (iii) ancillary financial services activities duly registered with the Junta Comercial de São Paulo/SP (JUCESP). Webull Technologies owns and operates technology products for the financial services industry. Specifically, Webull Technologies provides services through the Webull Platform, including providing and updating data related to the financial markets, and upgrading and maintaining trading software. H.H. Picchioni S.A. Corretora de Câmbio e Valores Mobiliários (“H.H. Picchioni CCVM”) is a Brazilian foreign securities brokerage firm duly authorized by the Banco Central do Brasil ("BCB") and Comissão de Valores Mobiliários ("CVM") that has entered into an agreement with Webull Financial LLC to offer Webull Financial LLC's overseas intermediation services to resident investors, domiciled or incorporated in the Federative Republic of Brazil in accordance with CVM Guidance Opinion No. 33 of 09.09.2005 and observing the considerations of the decision of the CVM Collegiate issued on 02.23.2021, regarding the SMI Consultation on the offer of securities intermediation services by a foreign intermediary, through a partnership with a national intermediary. H.H. Picchioni CCVM may be remunerated for the services provided to Webull Financial LLC and/or its affiliates and partners, as per the operating agreement entered between the parties. The intermediation services provided in the United States are provided exclusively through Webull Financial LLC, without any interference by H.H. Picchioni CCVM in the provision of these services, although H.H. Picchioni CCVM has responsibility for the regular verification of Webull Financial LLC's licenses and authorizations, which can also be consulted, at any time, on the Broker Check by FINRA website https://brokercheck.finra.org/firm/summary/289063. Webull Financial LLC's services available on this platform are provided exclusively in the United States, in compliance with local American laws and regulations, and are not subject to registration with the CVM, nor are they subject to the supervision of the CVM or any other Brazilian regulatory body. CVM's supervision is restricted only to the Brazilian national territory, i.e., to H.H. Picchioni CCVM. Thus, Webull Financial LLC does not have authorization from the CVM to directly offer securities intermediation services to investors resident, domiciled or incorporated in the Federative Republic of Brazil. No information contained on these platforms should be understood as a direct offer of services addressed to these investors by Webull Financial LLC. All investments involve risk, and not all risks are suitable for all investors. The value of securities can fluctuate, and as a result, customers may lose more than their original investment. The past performance of a security or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not guarantee a profit or protect against losses in a down market. There is always the potential to lose money when you invest in securities or other financial products. Investors should carefully consider their investment goals and risks before investing. The official communications from Webull Financial LLC are available in English at www.webull.com/policy. On this page, we provide the Portuguese translation of these communications for your reference Options are risky and not suitable for all investors. Investors can rapidly lose 100% or more of their investment trading options. Before trading options, carefully read Characteristics and Risks of Standardized Options, available at Webull.com/policy. Regulatory and Exchange fees, and Index Option Contract fees may apply. The assets traded through Webull Financial LLC's overseas intermediation are denominated in U.S. dollars (USD) and involve risks, including possible loss of principal. When an investment is denominated in a currency other than the investor's currency, changes in exchange rates can have an adverse effect on the value, price, or income derived from the investment (currency risk). Such assets are not FDIC (Federal Deposit Insurance Corporation) insured, have no bank guarantee, and are subject to loss of value. Investors should carefully consider their investment goals and risks before investing. The price of a particular security can increase or decrease based on market conditions, and customers can lose money, including their original investment. No content from the Webull platforms will be considered as a recommendation or solicitation for the purchase or sale of securities, options, or other investment products. All information and data on the website is for reference only and no historical data should be relied upon as a basis for judging future trends. Investors should be aware that system responsiveness, execution price, speed, liquidity, market data, and account access times are affected by many factors, including market volatility, order size and type, market conditions, system performance, and other factors. The response times of the system and access to the account, as well as all communication through the world wide web, are subject to delays, interruptions or delays, which may prevent or impair the sending of orders or the receipt of updated information, which may also represent a risk to the investor. Free trading in stocks and ETFs refers to $0 commissions for individual self-directed money or margin brokerage accounts of Webull Financial LLC and IRAs that trade U.S.-listed securities through mobile, desktop, or website products. A fee of $0.50 per contract applies to options trades. Relevant regulatory and foreign exchange rates may apply and be updated constantly. Please refer to our Fee Schedule for more details on transfer costs and timeframes. Diversification does not eliminate the risk of experiencing investment losses. Margin trading increases risk of loss and includes the possibility of a forced sale if account equity drops below required levels. Margin is not available in all account types. Margin trading privileges are subject to Webull Financial, LLC review and approval. Leverage carries a high level of risk and is not suitable for all investors. Greater leverage creates greater losses in the event of adverse market movements. Cash Management is not a specific type of Webull account, but rather a feature within the investment account that allows you to earn interest on the account balance through a cash management solution. This feature must be accepted and is not available to all accounts. Individuals or legal entities resident, domiciled or headquartered in Brazil, who hold funds abroad above a certain amount must file a declaration of the CBE (Brazilian capital abroad) to the Central Bank of Brazil (BCB). More information can be found at this link https://www.bcb.gov.br/estabilidadefinanceira/cbe. Products and services such as futures and economic events are offered by Webull Futures LLC, an affiliate of Webull Financial LLC and a registered Futures Commission Merchant. Webull Futures LLC is registered with the Commodity Futures Trading Commission and is a member of the National Futures Association. Account transfer functionality and related futures onboarding services may be made available through a referral arrangement between Webull Financial LLC and Webull Futures LLC. Securities and futures accounts are maintained separately and are subject to different regulatory frameworks and protections. International investments are intermediated by H. H. Picchioni. Trading derivative contracts involves substantial risk and is not suitable for all investors. Webull requests that clients carefully consider all associated risks, including, without limitation, the risks described in the Risk Disclosure Statement and other relevant documents available at www.webull.com/policy. Consult with a financial professional or legal advisor before making any investment in derivative contracts. Futures and economic event contract accounts are not protected by the Securities Investor Protection Corporation (SIPC). Webull Technologies (Brazil) Ltda acts as a foreign exchange correspondent for Ouribank S.A. Banco Múltiplo, authorized by the Central Bank of Brazil, in accordance with CMN Resolution No. 4,935/2021. Foreign exchange operations related to the Webull Financial LLC Investment Account are conducted directly between the client and Ouribank. The foreign exchange account in Brazilian reais, opened in the client's name at Ouribank, can be operated through the Webull platform, always with the client's prior authorization. The funds deposited in it do not belong to Webull, which does not conduct foreign exchange operations on its own behalf nor holds ownership over the funds. Webull provides technological infrastructure to facilitate communication between the client and Ouribank. The platform does not store or move financial resources directly; it only transmits orders and information. The balance displayed in the Exchange Account is informational and reflects operations with Ouribank. All transactions depend on bank approval and the presentation of documentation required by Brazilian foreign exchange legislation, including proof of the origin and destination of funds. Foreign exchange operations involve exchange rate risk and may result in amounts different from those estimated. The settlement period may vary according to Ouribank's procedures. All products available on our platform are linked to recognized markets and are carefully selected based on high standards of governance, quality, oversight, and safety. Webull Prestadora de Serviços de Ativos Virtuais Ltda (“Webull VASP”) operates in partnership with Coinbase, Inc. (“Coinbase”), an independent third-party service provider based in the United States, to offer clients streamlined access to cryptocurrency trading. Webull VASP and Coinbase are legally separate and independent entities. In this context, Webull VASP acts as an intermediary,. Settlement, execution of cryptoasset transactions and custody are conducted exclusively by Coinbase. By accessing this service, you acknowledge and agree to Coinbase’s applicable terms, policies, operational conditions, and jurisdictional regulations. It is your responsibility to review and understand these documents before initiating any transactions. Your virtual assets are not insured by any government institution. Trading cryptoassets in the spot market involves significant risk, including the potential loss of your entire investment. There are no trading fees for cryptocurrency purchases. However, a spread may be included in the asset price for each transaction. We strongly recommend that you fully understand the risks involved before trading. For Coinbase's legal and regulatory information, please visit: Sobre – Coinbase Webull VASP, in accordance with the applicable infra-legal regulations, is not authorized or supervised by the Central Bank of Brazil in the definitive regime, being subject to the regulatory transition period. VASP activities have been carried out since July 2025 by Webull Technologies Brazil Ltda. and were formally migrated to Webull VASP, in accordance with the current regulatory framework. Investors who are residents, domiciled, or incorporated in the Federative Republic of Brazil who became clients of Webull Financial LLC and/or Webull Futures LLC through platforms in Brazil intermediated by H.H. Picchioni CCVM, or clients of Webull SPSAV, may contact the customer service channel at ajuda@webull.com.br for complaints or questions about the services provided by Webull. For cases not resolved through the customer service channels mentioned above, investors may also contact the H.H. Picchioni CCVM Ombudsman at 0800 601 7100 or ouvidoria@picchioni.com.br, available on business days. The sending and receiving of financial resources from clients in Brazil for crypto asset trading occurs through PIX (a Brazilian instant bank transfer) to a virtual account opened on a Payment Platform structured by FacilitaPay US LLC ("FacilitaPay") and after approval of the registration process by Webull SPSAV, when an international transfer of funds via foreign exchange operation (eFX) performed by FacilitaPay is requested. The ATTRUS group is managed by Facilitapay. ATTRUS (formerly Facilitapay) has entered into a financial and technological services agreement with Webull for operations related to crypto assets and operates in compliance with regulations governing the Brazilian Payment Market (SPB, in Portuguese acronym), Foreign Exchange Market, and Payment Methods. Attrus is legally incorporated and regulated as a Payment Institution in the "electronic money issuer" category and authorized as a direct foreign exchange operator, under "Circular 3.978/20" of the Central Bank of Brazil. FacilitaPay is not affiliated with Webull group companies. For more information about FacilitaPay/Attrus, access the following link: {ATTRUS | Powering the flow of global financial services