General Terms and Conditions

Overview

Section 1 Scope of these GTC and Contracting Parties

1. All services and supplies of Hopf-Klinkmüller Capital Management GmbH & Co. KG, Stuttgart (D), Schweizerische Zweigniederlassung, Steinhausen (CHE-259.545.941) ("HKCM" or "we") which are based on an order placed by the customer ("Customer" or "you") via the online portal https://hkcmglobal.com/ of HKCM ("Web Portal") are carried out exclusively on the basis of the following general terms and conditions ("GTC") in the version valid at the time of your order. Unless expressly agreed in text form, deviating, supplementary or conflicting terms and conditions of the Customer do not apply.

2. These GTC can be accessed, saved and printed out under the following link: https://hkcmglobal.com/agb.

3. The Customer's order presupposes registration on the Web Portal. If the Customer is a natural person, registration requires that the Customer has full legal capacity, i.e. is at least 18 years of age. HKCM does not offer its services to minors. By registering and placing a Binding Order, the Customer confirms that it has full legal capacity.

4. Customers within the meaning of these GTC are both consumers and businesses. Consumers within the meaning of these GTC are natural persons who place the order for a purpose that cannot predominantly be attributed to their commercial or self-employed professional activity. Businesses within the meaning of these GTC are natural or legal persons or partnerships with legal capacity who, at the time of conclusion of the contract, are acting in the exercise of their commercial activity. The Web Portal is intended exclusively for Customers who are of legal age and/or who are domiciled in Switzerland or the EU.

The provider of the Web Portal and contractual partner for orders placed on the basis of these GTC is:

Hopf-Klinkmüller Capital Management GmbH & Co. KG, Stuttgart (D), Schweizerische Zweigniederlassung, Steinhausen

Turmstrasse 30

6312 Steinhausen

Switzerland

Email: support@hkcmglobal.com

5. Contract language is English.

Section 2 Conclusion of Contract

1. The products displayed on the Web Portal do not constitute a legally binding offer to conclude a contract with HKCM, but an invitation to place an order. A legally binding offer to conclude a contract is only made by the Customer, who can make this offer by placing an order with HKCM on the Web Portal. To place an order, a customer profile is required.

2. When placing an order via the Web Portal, the Customer can select products and add them to the shopping cart by clicking on the "Subscribe" button without obligation. The Customer can remove selected products from the shopping cart at any time. If the Customer has products in its shopping cart, clicking on the "Secure Checkout" button will take it to a page where the Customer can enter its details and select a payment method. Discount codes can also be redeemed at this point. The page also contains an overview of the products in the shopping cart. Before placing a binding order, the Customer can change and view the data at any time. A binding order is only triggered when the Customer has entered all the data required for the execution of the contract, confirmed that it has read these GTC, given its consent to the start of the execution of the contract before the expiry of the withdrawal period (where applicable) by ticking the separate checkbox, and clicked on the "Subscribe now" button ("Binding Order"). If the Customer wants to cancel the order process before placing a Binding Order, it can simply close the browser window. By clicking this button, a Binding Order is placed for the selected products and payment processing (credit card, PayPal, Apple Pay, Google Pay) is subsequently carried out for technical reasons.

3. Immediately upon receipt of the Binding Order, HKCM confirms receipt of the order by an automatic email ("Acknowledgement of Receipt"). The Acknowledgement of Receipt lists the ordered products and enables the Customer to print out its Binding Order.

4. HKCM reserves the right to refuse to accept the Binding Order. HKCM is not obliged to conclude a contract on the basis of a Binding Order. A Binding Order may be cancelled or rejected in particular if there is a violation of these GTC or a suspicion of such a violation — in particular where a Customer has not paid for a previous order. The Customer will be informed of cancellations and refusals by email.

5. The binding contract is only concluded once HKCM confirms the order by email ("Confirmation Email") or by delivery of the ordered products. If the order includes several products, the contract is only concluded for those products expressly listed in the Confirmation Email or that have actually been delivered/made available on the Web Portal. A registered Customer can access its order data via the customer area of the Web Portal.

Section 3 Products; Subscription; Notice

1. The products that the Customer can order through the Web Portal are always subscriptions that are automatically renewed unless cancelled in time.

2. It is not possible to change subscriptions during the respective subscription period.

3. The analyses booked by the Customer via the Web Portal, e.g. in the form of articles and graphics, are made available to the Customer in the customer area of the Web Portal for the respective subscription period (daily, i.e. Monday to Friday and Sunday, with the exception of non-market days, or weekly, if applicable) and for the duration of the subscription period (1, 3, 6 or 12 months, as applicable, hereinafter also the "Initial Term").

In addition, the Customer has the option of having the booked analyses sent to its provided email address. This is a voluntary and free additional service provided by HKCM, which HKCM may change or discontinue at any time without prior notice, always considering the Customer’s interests appropriately. The Customer may deactivate receipt of the booked analyses by email at any time during the subscription term via the corresponding link at the bottom of an email, as well as via the Web Portal. For the avoidance of doubt, deactivating such emails does not constitute a cancellation of the relevant subscription and does not affect HKCM’s right to receive fees. Deactivating the analysis emails does not entitle the Customer to a reduction in payment, nor does it affect the duration of a subscription. If the Customer wishes to receive the emails again, it may request them again at any time during the subscription term via the Web Portal.

4. Video analyses (formerly "webinars"), i.e. short videos on HKCM’s predicted stock market movements, booked by the Customer via the Web Portal, are usually made available twice a week for the relevant area and can be accessed via the Web Portal for the term of the relevant subscription.

5. To ensure the usability and functionality of the Web Portal and compliance with the limits of use established in these GTC, the Customer must accept the cookies provided by the Web Portal on its terminal equipment and may not modify them, and should, if possible, not delete them during a session. The Customer undertakes to ensure compliance with these technical requirements, e.g. by making the appropriate browser settings. If the Customer does not comply for reasons within its responsibility, HKCM is not liable for any resulting functional impairment of the Web Portal. If, due to a modification of the cookies or their rejection, it is not possible or is made difficult for HKCM to verify compliance with the limits of use, HKCM is entitled to request the Customer to remedy the situation within a reasonable period and, after fruitless expiry of that period, to suspend the Customer’s access until compliance is restored. HKCM may ultimately terminate the individual contract after the fruitless expiry of a further reasonable remediation period.

6. The Customer may terminate the subscription at any time up to 3 days before the end of the selected subscription term via the "Terminate Abonnement" function in the customer area of the Web Portal, or alternatively at least 5 days before the end of the selected subscription term by email to support@hkcmglobal.com. Unless terminated, the subscription will be automatically renewed for an indefinite period (the "Renewal Term") on the originally agreed terms and conditions. The Customer may terminate a renewed subscription at any time during the Renewal Term, with one month’s notice, via the "Terminate Abonnement" function in the customer area of the Web Portal. HKCM expressly draws the Customer’s attention to the fact that, in the event of early termination, any discounts on the subscription price will be cancelled both retroactively and for the remaining term of the subscription — i.e. the price for the relevant term is recalculated on the basis of the undiscounted subscription price. Payments already made in advance by the Customer will be taken into account and offset. Any payments made in excess of the recalculated price will be refunded to the Customer no later than 30 days after the end of the subscription. Additional payments owed by the Customer will be invoiced and are immediately due.

7. The right to extraordinary termination remains unaffected.

8. Once a subscription has expired, the Customer will no longer be able to access the analyses and video analyses available in the customer area of the Web Portal. The customer profile and access to the Web Portal remain in place and can be deleted separately in the profile settings.

Section 4 Payment; Discount Code

1. All prices shown on the Web Portal are inclusive of the applicable statutory value added tax and other mandatory price components. Only the prices in force at the time of conclusion of the contract are applicable.

2. A discount code can be entered in the "Discount Code" field in the shopping cart and redeemed by clicking "Apply". The discount amount is deducted from the subscription price and shown separately above the final total price. Once the order has been completed, it is no longer possible to use a discount code.

3. The payment methods displayed at the end of the checkout process are available to the Customer. HKCM uses the payment service provider PAYONE GmbH, Lyoner Str. 9, 60528 Frankfurt/Main, Germany, to process payment transactions.

4. Payments must be made in advance for the selected Initial Term and any Renewal Term; payment is due immediately upon conclusion of the contract or automatic renewal of the subscription. If the due date for payment is determined by the calendar, the Customer is in default as soon as the due date has passed. In that case, the Customer shall pay HKCM default interest at a rate of 5% p.a.

5. If the Customer selects SEPA direct debit, the invoice amount is due after a SEPA direct debit mandate has been issued, but not before the expiry of the pre-notification deadline. The direct debit is collected when the ordered product is made available to the Customer, but not before expiry of the pre-notification deadline. Pre-notification is any communication (e.g. invoice, policy, contract) announcing a debit by SEPA direct debit. If the direct debit cannot be executed due to insufficient funds or incorrect bank details, or if the Customer objects to the debit without being entitled to do so, the Customer bears the resulting chargeback fees if responsible for the failure. If the Customer selects credit card, the invoice amount is due immediately upon conclusion of the contract; the card is debited immediately after the order is sent via the Web Portal.

6. For PayPal payments, processing is carried out by PayPal (Europe) S.à r.l. et Cie, S.C.A., 22-24 Boulevard Royal, L-2449 Luxembourg, subject to the PayPal Terms of Use (https://www.paypal.com/de/webapps/mpp/ua/useragreement-full) or, if the Customer has no PayPal account, the terms for payments without a PayPal account (https://www.paypal.com/de/webapps/mpp/ua/privacywax-full).

7. For expedited checkout with Apple Pay, Apple Pay provides the Customer's information and credit card information to the payment provider; credit card information is stored in the Apple Wallet. The invoice amount is collected immediately upon receipt of the order.

8. For expedited checkout with Google Pay, Google Pay provides the Customer's information and credit card information to the payment provider. The invoice amount is collected immediately upon receipt of the order.

9. The Customer's obligation to pay default interest does not preclude HKCM from asserting further damages.

Section 5 Offsetting, Retention

1. The Customer may only offset claims that are undisputed or have been legally established by a court of last instance.

2. The Customer is only entitled to a right of retention or the objection of non-performance within this contractual relationship, and only if the Customer's counterclaim is undisputed or legally established by a court of last instance.

Section 6 User Access to the Web Portal; Duty to Cooperate

1. The Customer's access to the Web Portal is password-protected by means of access data specified by the Customer itself (email address and password). The customer account is personal.

2. The Customer is obliged to keep its access data strictly confidential and to protect it from unauthorized use by third parties through appropriate security measures. So-called account sharing is expressly prohibited (i.e. sharing the personal customer account or access data with any other person), even within the Customer's own company and its affiliated companies.

3. The Customer must inform HKCM immediately if it becomes aware of, or suspects, misuse of its access data. In the event of misuse, HKCM is entitled to block access to the Web Portal until the circumstances have been clarified and the misuse has stopped. Further rights of HKCM are reserved. The Customer is liable for any misuse, unless the Customer is not responsible for such misuse.

4. The Customer is responsible for ensuring that the technical requirements for access to the Web Portal are in place and maintained — in particular the hardware, operating system software, internet connection, and current browser software used ("IT Infrastructure"). The restrictions on compatibility and use set out in § 3(5) must also be complied with.

5. In the event of modifications and further development of the Web Portal, it is the Customer's responsibility, following notice from HKCM, to make the necessary adjustments to its IT Infrastructure.

6. The Customer is obliged to take the necessary measures to secure its IT Infrastructure, in particular to use up-to-date browser security settings and current protection mechanisms against malware.

Section 7 Scope of Service; Restrictions; Availability; Reservation of the Right to Make Changes

1. Information provided by HKCM about the Web Portal in promotional materials, on websites, or in other media serves solely to describe its nature and does not constitute a warranty or representation of any kind.

2. In principle, the Web Portal is available to the user 24 hours a day. Accessibility may be limited for technical reasons, e.g. internet disruptions beyond HKCM's control or necessary maintenance work. HKCM strives to carry out maintenance outside normal business hours (9 a.m.–5 p.m. CET/CEST). HKCM aims for average availability of 98% per calendar year, measured at the Web Portal's transfer point to the internet, calculated as:

Availability = (Total Time – Total Downtime) / Total Time × 100%

The following periods are excluded from total downtime:

- periods of unavailability due to internet disruptions or other circumstances beyond HKCM's control, in particular force majeure;

- periods of unavoidable unscheduled maintenance to rectify defects (the Customer will be informed via a notice on the Web Portal where possible in good time);

- periods of unavailability caused by the Customer's own technical shortcomings, e.g. hardware malfunctions on the Customer's side.

3. HKCM strives to continuously adapt the Web Portal to current requirements and reserves the right to make changes for technical optimization, to improve usability and device compatibility, and to update content — provided such changes are necessary for error correction, updating, completion, technical optimization or licensing reasons, do not materially restrict the contractually agreed services, do not jeopardize the purpose of the contract, and are reasonable for the Customer.

Section 8 Right of Use of the Customer

1. Subject to payment of the fee due, the Customer is granted a simple, non-exclusive, non-transferable, permanent right to use the analysis content contained in the relevant subscription for its own and/or internal business purposes only. This right is personal to the Customer. Transfer to third parties or sublicensing is expressly prohibited, unless within the scope of mandatory statutory exceptions (see § 8(5)).

2. Subject to payment of the fee due, the Customer is granted a simple, non-exclusive, non-transferable right, limited to the duration of the relevant subscription, to use the Web Portal content contained in the relevant subscription for its own and/or internal business purposes only. This right is personal to the Customer.

3. The right of use under § 8(2) includes the right to use the Web Portal to retrieve content covered by the access authorization and display it on-screen.

4. Any further use of Web Portal content requires HKCM's prior written consent. In particular, the Customer is not permitted to:

- systematically and automatically retrieve content;

- create systematic collections from retrieved content;

- disclose or make content available to third parties;

- use the Web Portal to pass on content commercially or provide information to third parties.

Mandatory statutory rights of use remain unaffected.

5. HKCM is entitled to implement technical measures to prevent use beyond the permissible scope, including access barriers. The Customer must not use any device, product or means designed to circumvent HKCM's technical measures, including web crawlers, spider programs, or metasearch engines. In the event of improper use, HKCM may immediately suspend the Customer's access. Further rights and claims of HKCM — including the right to extraordinary termination for good cause and claims for damages — remain unaffected.

6. At HKCM's request, the Customer must provide written information on the type and scope of its use of the Web Portal where there are objective indications of use in breach of contract. Other rights and claims of HKCM in such cases remain unaffected.

Section 9 Warranty

1. For contracts concerning the purchase of digital content, the Customer is entitled to rights and claims under the statutory provisions on liability for defects. Unless otherwise required by mandatory applicable law, claims for defects are subject to a limitation period of twelve months from delivery.

2. The Customer is obliged to inspect the products as soon as reasonably possible in the ordinary course of business and to notify HKCM immediately of any defects found. If the Customer fails to do so, the products are deemed approved. In any event, products are deemed approved unless the Customer notifies HKCM in writing (email sufficient) within eight (8) days of delivery.

3. Defects that could not be detected during a proper inspection under §9(2) must be reported to HKCM in writing (email sufficient) immediately upon discovery; otherwise the products are deemed approved even in respect of those defects.

4. Customers do not receive any warranties in the legal sense.

Section 10 Liability

1. HKCM is liable for damages resulting from injury to life, limb or health, and for damages resulting from willful conduct or gross negligence on the part of HKCM. Any other liability of HKCM is excluded to the maximum extent permitted by mandatory applicable law. In particular, HKCM is not liable for slight negligence or for the conduct of auxiliary and vicarious agents.

2. Where liability cannot be excluded under mandatory applicable law, liability is limited to the subscription fees paid by the Customer in the twelve months preceding the liability event. Further claims for damages by the Customer are excluded.

3. For the avoidance of doubt, HKCM notes that the content it provides does not constitute investment advice. HKCM makes no warranty or guarantee that the market data provided is accurate, complete, or up to date.

4. The above restrictions also apply for the benefit of HKCM's legal representatives, officers, employees and other vicarious agents, where claims are asserted directly against them.

Section 11 Data Protection

HKCM processes the Customer's personal data (such as name, address, email address, contract data) in accordance with applicable data protection law. Further information on how HKCM processes personal data, and on your rights as a data subject, can be found in our privacy policy at: https://hkcmglobal.com/privacy-policy

Section 12 Final Provisions

1. New versions of these GTC only become part of the contract if communicated to the Customer at least in text form (e.g. email), highlighting the changes, and the Customer does not expressly object to the new version within one month of receiving the change notification in text form. The Customer will be informed of the significance of its silence when the new version is notified. If the Customer objects, the contractual relationship continues under the original terms.

2. The Customer must immediately notify HKCM by email to support@hkcmglobal.com of any changes affecting performance of the services or the contractual relationship (e.g. change of address, name, or email address).

3. Unless otherwise required by mandatory applicable law, the place of fulfilment for all obligations arising from the contractual relationship under these GTC is Steinhausen, Switzerland.

4. Should any provision of these GTC become invalid or ineffective, in whole or in part, this shall not affect the validity of the remaining provisions, which shall be replaced by a provision reflecting, to the fullest extent possible, the parties' original intent and economic purpose.

5. All disputes arising out of or in connection with these GTC are subject to the jurisdiction of the competent court in Steinhausen, Switzerland. Mandatory statutory places of jurisdiction remain reserved.

6. Swiss law applies exclusively. This choice of law applies to consumers only to the extent that the consumer is not deprived of the protection afforded by mandatory consumer protection provisions of the country in which the Customer has its habitual residence. The conflict-of-laws rules and the UN Convention on Contracts for the International Sale of Goods (CISG) do not apply.

Annex 1 Additional Local Provisions
1. EU

If the Customer has its habitual residence in the European Union, the following provisions apply in addition to the GTC:

§ 1 – Cancellation Policy and Withdrawal Form

If the Customer is a consumer, it has a right of withdrawal in accordance with the following provisions:

Cancellation Policy

Limited right of withdrawal for digital content

In accordance with the European Consumer Rights Directive (Directive 2011/83/EU), consumers generally have a 14-day right of cancellation for online purchases. However, for digital content not delivered on a tangible medium (e.g. analyses provided by email or available online), this right expires prematurely if:

- the consumer has expressly consented to performance of the contract commencing before expiry of the cancellation period;

- the consumer has acknowledged and expressly agreed that, by giving this consent, they lose their right of cancellation upon commencement of performance;

- the trader has provided the consumer with a confirmation of the contract on a durable medium.

These regulations apply throughout the European Union and have been implemented in the national laws of the member states accordingly.

Right of Withdrawal

Except in the circumstances described above, you have the right to withdraw from this contract within fourteen days without giving reasons.

The withdrawal period is fourteen days from the date of conclusion of the contract.

To exercise your right of withdrawal, you must inform us (Hopf-Klinkmüller Capital Management GmbH & Co. KG, Stuttgart (D), Schweizerische Zweigniederlassung, Steinhausen (CHE-259.545.941), Turmstrasse 30, 6312 Steinhausen, Switzerland, email: support@hkcmglobal.com) of your decision to withdraw by means of a clear statement (e.g. letter or email). You may use the sample withdrawal form below, though it is not mandatory.

To meet the withdrawal deadline, it is sufficient to send the notification before expiry of the withdrawal period.

Consequences of Withdrawal

If you withdraw, we will reimburse all payments received from you, including delivery costs (except additional costs from choosing a delivery method other than the cheapest standard delivery we offer), without undue delay and at the latest within fourteen days from the day we receive your withdrawal notice. We will use the same payment method you used for the original transaction unless otherwise expressly agreed; no fees will be charged for this repayment.

End of the Cancellation Policy

Sample Withdrawal Form

(If you wish to withdraw from the contract, please fill out this form and send it back)

- To: Hopf-Klinkmüller Capital Management GmbH & Co. KG, Stuttgart (D), Schweizerische Zweigniederlassung, Steinhausen, Turmstrasse 30, 6312 Steinhausen, Switzerland, email: support@hkcmglobal.com

- I/we (*) hereby withdraw from the contract concluded by me/us (*) for the purchase of the following goods (*)/provision of the following service (*)

- Ordered on (*)/received on (*)

- Name of the consumer(s)

- Address of the consumer(s)

- Signature of the consumer(s) (only for paper notification)

- Date

(*) Delete as appropriate

§ 2 – Information on Dispute Resolution

The European Commission provides a platform for online dispute resolution (the "ODR platform"). HKCM does not participate in a dispute resolution procedure before a consumer arbitration board and is not obliged to do so.

As of August 2026 (Version 3.1)