General Terms of Use

Preamble

‍Blast.club's mission is to enable individuals or legal entities to become members of its private investors' club, allowing them to indirectly subscribe to securities issued by companies seeking capital.

‍Blast.club will pre-select investment opportunities, publish them on its website, provide Startups with its collection and subscription services, and make available to its subscribing members the information enabling them to make their investment decisions. Blast.club will then keep members who have actually subscribed regularly informed about the situation of the companies in which they have invested.

Blast.club operates under its approval as a Crowdfunding Service Provider, authorized by the Autorité des Marchés Financiers (AMF) under number FR 2023-12, and also offers opportunities related to securities proposed by companies controlled by Blast or its main associates (Blast acting strictly within the framework of Article L. 531-2 of the French Monetary and Financial Code). The "PSFP" General Terms of Use and the "OPTF" General Terms of Use are described below.
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Blast.club Crowdfunding Service Provider T&Cs

Article 1 • Definitions

“Algorithm” refers to the mathematical formula used to determine the investment share allocated to a Member who has expressed an intention during the Intention Period when the intentions expressed by all Members during the Intention Period exceed the maximum amount to be invested in the SPV dedicated to acquiring a stake in a Startup. ”.

“PSP Bank” refers to LEMONWAY, a simplified joint-stock company with its registered office at 8, rue du Sentier, 75002 Paris, registered with the Paris Trade and Companies Register under number 500 486 915, for which Blast Club acts as an agent, or any other payment service provider within the meaning of Article L. 314-1 of the French Monetary and Financial Code for which Blast Club will become an agent, which is the bank responsible for receiving the Subscribed Amounts.

“Blast Club” refers to Blast, a simplified joint-stock company, with its registered office at 231, rue Saint Honoré, 75001 Paris, registered with the Paris Trade and Companies Register under number 915 236 640, a crowdfunding service provider approved by the Autorité des Marchés Financiers (AMF) under number FR 2023-12, and a payment services agent registered with the register of financial agents under number 730073.

“Priority Voucher(s)” refers to the right held by certain Members, depending on the selected plan (further described in Article 5.1) or following an additional purchase on the Shop available on the Website (whose operation is further described in Article 5.5), to be guaranteed participation in an investment opportunity up to their desired intention, even if the intentions expressed by all Members during the Intention Period exceed the maximum amount to be invested in the SPV dedicated to acquiring a stake in a Startup. This is to be mitigated in very rare cases where the priority vouchers alone would exceed the category threshold. In such cases, they are guaranteed to participate but with a restricted allocation. 

"Community" refers to each of the local communities within the Community Program, reserved for Members, accessible from the Site, and managed primarily within a WhatsApp community comprising several groups.

“Terms of Use” refers to these general terms of use.

"Discussion Spaces" refers to the discussion areas made available to Members by Blast Club, namely the Communities (including their WhatsApp groups) and the Blast Discord server.

“KIIS” refers to the Key Investment Information Sheet, as mentioned in Article 23 and Annex I of European Regulation 2020/1503.

“Equity Crowdfunding” refers to a financial capital increase operation intended to finance a growing company.

“User” refers to any person browsing the Site without having completed the access request process for the Services. To avoid any ambiguity, a User is not a Member.

“Marketplace” refers to the marketplace set up by Blast Club where Members can post sell and buy orders for SPV financial securities. It is specified (i) that the Marketplace is not a trading platform in accordance with Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 and as such, does not consist of an internal matching system executing orders on a multilateral basis, and (ii) that the Marketplace is a bulletin board within the meaning of Article 25 of Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020.

“Member” refers to any natural or legal person (i) who has completed the access request process for the relevant Service(s), whose request has been validated by Blast Club, allowing them to use the Service(s) and access restricted pages, and (ii) who wishes to use all or part of the Services.

“Subscribed Amount” refers to the sum paid by a Subscriber within the framework of a Crowdfunding Offer.

“Crowdfunding Offer” refers to the crowdfunding offer presented by a Startup.

“Subscription Period” refers to the Subscription phase during which the Member who indicated an intention during the Intention Period must actually subscribe for the financial securities of the relevant SPV and make their Subscription effective, particularly through the PSP Bank, as described in Article 4.2.

“Intention Period” refers to the intention phase during which each Member may indicate an intention to subscribe for financial securities of the relevant SPV, as described in Article 4.2.

"Community Program" refers to Service 5 described in Article 4.5.

“Risk Questionnaire” refers to the standard warning template and questions related to the inherent risks of Crowdfunding Offers that every User must answer to obtain Member status.

"Discussion Space Rules" refers to the code of conduct applicable to the Discussion Spaces, accessible within each Community, which supplements these Terms of Use and forms an integral part thereof.

"Community Lead" refers to a volunteer Member who contributes to managing a Community under the conditions set forth in Article 4.5.3.

“Services” refers to all services offered by Blast Club and described in Article 4.

“Site” refers to the Blast Club website accessible at the following address: https://blast.club/

“Subscriber” refers to any Member who makes a Subscription and proceeds with the payment of the corresponding Subscribed Amount.

“Subscription” refers to the commitment made by a Subscriber to participate in a Crowdfunding Offer.

“SPV” refers to the investment vehicle designed to group Subscribers and enable Startups to simplify the management of their shareholding by having a single point of contact representing the interests of all Subscribers.

“Startups” refers to companies seeking Equity Crowdfunding presented on the Site.

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1. Acceptance of the Terms of Use

By browsing the Site, the User accepts the Terms of Use without reservation. Failing acceptance of the Terms of Use, the User understands that they must not use the Site in any way whatsoever.

These Terms of Use shall be considered applicable at the time of their acceptance, whether tacit or express.

The Terms of Use apply indefinitely, subject to Article 11, for the entire duration of browsing the Site, and for a Member, for the duration of personal account use and until new terms replace these or termination occurs under Article 11.

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2. Right of Access to Services

Blast Club is obliged to restrict access to certain information presented on the Site, particularly the detailed presentation of the various Crowdfunding Offers. This information is found on web pages, referred to as "restricted access" pages, which only Members and Subscribers can access.

To become a Member, the Internet user must (cumulatively and without exception):

• have been selected and validated by Blast Club,
• create a personal account on the Site,
• acquire and pay for the right of access to the Services corresponding to the selected plan (further described in Article 5.1),
• fill in the various fields of the service access request form on the Site and
• confirm their acceptance of the Terms of Use.

The service access request is only effective after all the above-mentioned conditions have been met and the profile has been accepted by the Blast Club team. Blast Club reserves the right to accept or refuse any service access request, without any obligation to justify its decision or provide any compensation.

By completing the service access request form, the Member guarantees to Blast Club that they have provided accurate, truthful, up-to-date, and complete information regarding their identity, contact details, and all additional requested information.

Members are particularly invited to provide an email address which will be used for:

• the entire Member identification process (particularly for accessing their personal account),
• the confirmation of operations carried out by the Member on their personal account,
• for communicating to Members any information concerning their personal account and
• all information related to the use of the Services available on the Site.

Should the Member wish to modify their identification credentials, they simply need to visit the Site and change their settings in the "My Account" section or contact Blast Club by email at the following address: support-membre@blast.club

Should their identification credentials fall into the hands of third parties due to their fault, the Member shall be solely responsible for any use of these credentials and for the resulting use of the Services.

The Member undertakes to keep the information provided to Blast Club constantly updated in connection with the use of the Site by informing Blast Club of all changes that may affect their declarations by email to the following address: support-membre@blast.club

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3. Access to the Site

The following will be available for consultation by Internet users on the public pages of the Site: 

• the Terms of Use, 
• the legal notices,
• the privacy policy,
• the risks associated with investments on the Site,
• the page explaining the complaint process,
• the link to the general terms and conditions of the PSP Bank,
• the remuneration (fees) collected by Blast Club, 
• the presentation of Blast Club, its operation, and its selection policy, as well as its contact details and its approval number with the Autorité des Marchés Financiers (AMF).

All information presenting the Crowdfunding Offers and access to the personal area and restricted access pages of the Site are exclusively reserved for Members.

To become a Member, the Internet user, whether a legal entity or an individual, having previously paid the access fee for the Services corresponding to the selected plan (more fully described in Article 5.1), must apply on the Site by completing each of the following steps:

1. Complete a questionnaire enabling Blast Club to verify the suitability of the Member's profile with the type of risk presented by the Crowdfunding Offers and Services provided. The suitability test will be renewed annually or before this deadline if Blast Club is informed by the Member of a change concerning, as the case may be, their family situation, asset situation, financial situation, or investment objectives, and provided that these changes are likely to significantly alter the results of their last suitability test;
2. Provide additional information about their identity (e.g., date of birth, address, tax residence, SIRENE number, etc.); and
3. Provide electronically (via the Site's interface) the supporting documents requested on the Site, namely: (i) for an individual: a copy of a valid identity document, and (ii) for a legal entity: a Kbis extract less than three (3) months old, certified articles of association, a copy of a valid identity document of the legal representative, declaration of

Once this information has been collected, Blast Club will then:

• to carry out the usual identification checks on the Member; and

• to validate the suitability of the Member's profile for the Crowdfunding Offers and Services provided.

Once all the above steps have been completed by the Member and validated by Blast Club, the latter will notify the Member of the confirmation or denial of Member status. This notification will be sent, where possible, within twenty-four (24) business hours from the day all the information listed above was provided on the Site.

The Member is solely responsible for any use made of their private access (username and password), for ensuring its security, and for any use of their account.

The Member undertakes to inform Blast Club immediately of any unauthorized use of their account and any breach of the confidentiality and security of their identification credentials, by email to the following address: support-membre@blast.club

If Blast Club has legitimate reasons to believe that the security of the Site is compromised or that it is being misused due to unauthorized use of the Member's identification credentials, it may temporarily suspend the account, particularly to preserve the integrity of the Site and data, and, if deemed appropriate, require the modification of these identification credentials.

The Member acknowledges having the necessary skills and means to access and use the Site.

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4. Description of Services

The Services offered to Members are as follows:

• Access Startup profiles (hereinafter the " Service 1 ");
• Invest in an SPV dedicated to acquiring a stake in a Startup (hereinafter the " Service 2 ");
• Access the Marketplace that facilitates the resale of participations (hereinafter the " Service 3 ");
• Access events organized by Blast Club (hereinafter the " Service 4 ").
• Participate in the Community Program (hereinafter the " Service 5 »).

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Blast Club provides its Members with access to economic and financial information published on its Site regarding Startups looking to raise funds and, in this context, wishing to offer investors the opportunity to participate in such fundraising by making an investment, generally through a capital increase, under the terms and conditions described below. All of this information can be found in the FICI, which is available for each Crowdfunding Offer presented on the Site. 

4.1 Service 1: Startup Presentation Service

4.1.1 Presentation of Service 1

Blast Club provides a Service that consists of presenting general information on its Site to Members about Startups seeking to raise funds.

To present Startups on its Site, Blast Club enters into a service agreement with each Startup, which specifies the terms and conditions for presenting the Startup and its Crowdfunding Offer to Members.

Blast Club conducts a preliminary study and analysis of each Startup and its Crowdfunding Offer.

4.1.2 Absence of financial investment advice

Members are informed that Service 1, as referred to and governed by these terms, is defined solely as an activity of providing general information about the Startup.

Therefore, under no circumstances may a Member consider that the Service 1 provided by Blast Club can in any way be equated with a financial investment advisory service regulated by Articles L. 321-1 and D. 321-1 of the Monetary and Financial Code. In this regard, Members, by registering, acknowledge and accept that:

1. the Service 1 provided does not fall under financial investment advisory activity, as governed by the provisions of the Monetary and Financial Code;
2. Members' access to Service 1 does not constitute a personalized investment recommendation in any way; and
3. Blast Club will not provide any advice to Members and will not monitor investments made by Members through Service 1.

Blast Club informs Members throughout their navigation on the Site that investing involves risks of total or partial loss of invested capital and illiquidity. 

It is the responsibility of each Member, when considering an investment in a Startup presented on the Site, to ensure, through their own due diligence, studies, and analyses, and if necessary, those of informed and competent professionals, that this investment aligns with their investment strategy and corresponds to their personal, financial, asset, and tax situation.

It is therefore recommended that each Member, in addition to the tests carried out on the Site, conduct a precise and detailed analysis for each contemplated investment in a Startup:

1. of their financial capacity to bear the economic risk of the contemplated investment,
2. that they have sufficient means to meet their current and future needs and those of their family and close relatives, and
3. not to have any liquidity needs with regard to the contemplated investment.

4.1.3 Knowledge of general wealth management principles

The Member expressly declares to know and apply the essential wealth management rules concerning investment in the capital of unlisted companies, including the following principles:

• Do not invest more than 5 to 10% of your assets, excluding real estate, in this asset class,
• Do not invest savings that may be needed in the short or medium term,
• Diversify investments as much as possible within this asset class, so that no single investment ever represents more than 10% of the invested portfolio and
• Return on investment depends on the success of the funded project.

These general points are provided for informational purposes, without compliance with them constituting any obligation on the part of Blast Club.

4.1.4 Anti-Money Laundering – KYC

As Service 1 offered by Blast Club is limited to presenting Startups and their Crowdfunding Offer to Members, Members are informed that Blast Club is not a financial intermediary legally bound to comply with regulations relating to anti-money laundering, combating the financing of terrorism, and tax fraud.

However, Blast Club reserves the right to request from any Member, upon their application for access to the Services or subsequently, the information concerning them as required by regulations relating to anti-money laundering, combating the financing of terrorism, and tax fraud.

In this regard, Blast Club reserves the right to request, among other things, the production of the following documents:

• copy of a valid identity document;
• copy of proof of address less than three (3) months old;
• form on the origin of its income and assets;
• If a legal entity:
  • Kbis extract less than three (3) months old,
  • copy of its latest financial statements,
  • the list of beneficial owners.

4.2 Service 2: Investing in an SPV dedicated to taking a stake in a Startup

Subscriptions are made via SPVs created by Blast Club. The Blast Club team handles the legal creation of the SPV so that Members can take a stake in it. It is then this same SPV, created for the occasion, that takes the stake in the Startup.

Service 2 will take place in two (2) phases: an intention phase during which each Member may express an intention to subscribe for financial securities of the SPV dedicated to taking a stake in a Startup (the « Intention Period ») and a Subscription phase during which the Member who expressed an intention during the Intention Period must actually subscribe for the financial securities of the SPV dedicated to taking a stake in a Startup and pay for their Subscription, particularly through the PSP Bank (the « Subscription Period »).

Should the intentions expressed by all Members following the Intention Period exceed the maximum amount to be invested in the SPV dedicated to taking a stake in a Startup, Blast Club will select the Members who can participate in the Crowdfunding Offer using the Algorithm. 

Furthermore, members who have expressed an intention following the Intention Period but have not actually subscribed for the financial securities of the SPV dedicated to taking a stake in a Startup and paid for their Subscription, particularly through the PSP Bank, within eight (8) calendar days following the start of the Subscription Period, may be excluded from the Crowdfunding Offer, and the investment fees stipulated in Article 5.2 will remain due to Blast Club.

Please note that Subscribers identified as "non-sophisticated" following the Risk Questionnaire will benefit from a cooling-off period during which they may, at any time, revoke their investment offer or expression of interest in the Crowdfunding Offer without giving a reason and without incurring any penalty. The cooling-off period begins when the potential non-sophisticated Subscriber makes an investment offer or signals their expression of interest and expires after four (4) calendar days from that moment.

The PSP Bank will create a payment account called a "wallet" which must be funded by Members via bank card, transfer, or direct debit in order to validly indicate an intention to subscribe to financial securities of the SPV dedicated to taking a stake in a Startup. In the event of a Subscription, the Subscriber's Subscribed Amount will be directly debited from their wallet. Therefore, before making a Subscription, the Member must ensure they have sufficient funds available in their wallet.

During the Subscription Period, funds will be placed in a segregated and secure payment account hosted by the PSP Bank and not accessible by the Startup, the SPV, or Blast Club.

4.3 Service 3: Accessing the Marketplace

Blast Club has set up the Marketplace where Members can post sale or purchase announcements for all or part of the financial securities of SPVs dedicated to taking stakes in Startups that were initially offered via the Site.

It is reiterated, as necessary, that the Marketplace is not a trading platform in accordance with Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 and as such, does not consist of an internal matching system executing orders on a multilateral basis.

Any buying or selling activity on the Marketplace is carried out at the discretion and sole responsibility of each Member.

Sale announcements on the Marketplace do not constitute the placement of an order and may jeopardize any tax advantage a Member might have potentially benefited from when subscribing to the relevant securities; Blast Club assumes no responsibility and cannot be held liable for the loss of a previously obtained tax advantage.

4.4 Service 4: Meetings between Members and Startups

To allow the Member to position themselves and express their interest in a Crowdfunding Offer and to subscribe to it, they will have the opportunity to access meeting and exchange sessions. Insofar as Blast Club provides general information and the Member remains responsible for conducting their own due diligence for the purpose of Subscription, the objective of these meetings will be to allow Members and Startups to discuss the proposed Crowdfunding Offers.

No volume is guaranteed. If no meetings are organized, the Member will not have access to any meetings.

This Service 4 is offered free of charge.

4.5 Service 5: Community Program

4.5.1 Presentation and access

Blast Club is implementing a program of local Communities reserved for Members, each linked to a territory and managed by one or more Community Leads.

Any Member with a valid membership may join one Community, subject to availability, exclusively via the Site. Access to the WhatsApp community is subject to (i) acceptance of the Discussion Space Rules and (ii) the Member's express consent to the visibility of certain data, collected via a dedicated checkbox on the Site under the conditions of Article 9. Otherwise, the Member retains access to their Community on the Site as well as the Blast Discord server.

The Member may leave their Community at any time. They will be removed by Blast Club upon the expiration of their non-renewed membership or in the event of termination under the conditions of Article 11.

Service 5 is provided free of charge, depending on available Communities. These Communities will be implemented gradually, and Blast Club cannot be held responsible for the lack of a Community available to the Member. 

4.5.2 Phone number used

The phone number used to join the WhatsApp community is, by default, the one linked to the Member's account. Upon request sent to support from the email address associated with their account (contact@blast.club), the Member may obtain:

• the registration of another number, dedicated to the Community;
• the addition of a spouse or business partner, upon presentation of proof of a joint investment (joint account or investment via a company), linked to the same membership.

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In the latter case, the added person must provide their own consent prior to being added, and the Member warrants that this person will comply with the Terms of Use and the Discussion Space Rules. The supporting document is deleted once verification is complete.

4.5.3 Community Leads

Community Leads are volunteer, independent Members. They act freely and without any subordinate relationship with Blast Club. They are neither employees nor agents of Blast Club, have no power to represent it to third parties, and are not mandated to promote any investment.

Community Leads do not provide investment advice within the meaning of Articles L. 321-1 and D. 321-1 of the Monetary and Financial Code and are not authorized to act as solicitors within the meaning of Articles L. 341-1 et seq. of the same code.

They receive no compensation related to investments made by Members. They may benefit from advantages linked to their role, which are independent of investments made by members of their Community and are not conditional upon meeting any targets. They may also participate in the referral program under specific conditions granted by Blast and defined with the Community Leads.

Community Leads may contact members of their Community via WhatsApp to welcome them and provide information about Community life, excluding any presentation or promotion of a Crowdfunding Offering or any other Offering. Email communications remain handled exclusively by Blast Club.

Community Leads agree to comply with the Discussion Space Rules and to use Member data accessed through their role solely for the purpose of managing their Community. Their statements do not bind Blast Club.

4.5.4 Program evolution

Blast Club may evolve, suspend, or terminate the Community Program at any time, provided that Members are informed by any appropriate means. The termination of the Community Program has no impact on the Member's membership or other Services.

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5. Blast Club Remuneration

The Services offered by Blast Club are fee-based, with the exception of Service 4, which is offered free of charge. The pricing conditions applicable to Members are outlined below.

5.1 Access to Services

The term "membership" used on the Site refers to the right of access to the Services that a Member must pay for. Registration as a Member on Blast Club is paid and valid for one (1) year. The costs of this registration are an essential prerequisite for making investments.

Only a Member can subscribe to financial securities of the SPV dedicated to taking a stake in a Startup. The membership fees paid by the Member are therefore dependent on the investment planned by the Member during the period.

These membership fees therefore constitute a connection service between a Member and Startups involving financial securities and are, as such, exempt from VAT.

Accordingly, depending on the membership status, the Member will have the right to:

• "Bronze" status, a right to invest a maximum of €2,000 per Crowdfunding Offer and €10,000 in total over 1 year upon payment of a €1,500 access fee for the Services. No Priority Voucher;Bronze ", the right to invest a maximum amount of €2,000 per Crowdfunding Offering and €10,000 in total over 1 year, subject to payment of a service access fee of €1,500 (reduced to €1,000 starting from Renewal 1, under the conditions of Article 5.4). No Priority Voucher;
• status " Silver ", the right to invest a maximum amount of €5,000 per Crowdfunding Offer and €25,000 in total over 1 year in exchange for the payment of a €2,000 access fee to the Services (reduced to €1,500 starting from Renewal 1, under the conditions of Article 5.4). No Priority Vouchers;
• status " Gold ", the right to invest a maximum amount of €15,000 per Crowdfunding Offer and €50,000 in total over 1 year in exchange for the payment of a €3,000 access fee to the Services. 1 Priority Voucher;
• status " Platinum ", the right to invest a maximum amount of €30,000 per Crowdfunding Offer and €100,000 in total over 1 year in exchange for the payment of a €5,000 access fee to the Services. 2 Priority Vouchers; and
• status " Diamond ", the right to invest an unlimited amount per Crowdfunding Offer and an unlimited total amount over 1 year in exchange for the payment of a €10,000 access fee to the Services. 3 Priority Vouchers.

A Member will have the option, provided that the Blast Club selection committee has issued a favorable opinion, to change their status to a higher status, provided that they have submitted this request within thirty (30) calendar days following the payment of their initial membership. In this regard, the Member will benefit from the higher status starting from the date of the favorable opinion notified by the Blast Club selection committee and the payment of the difference between the amount of the access fee to the Services corresponding to the new status and that of their initial membership. The amount invested under their former status will be deducted from the amount to be invested under their new status. The membership period remains that of the initial membership. Unused credits and Priority Vouchers from the initial membership are not added to those of the new status. This option is distinct from the one provided below for upgrading to a higher status "at any time": the Member chooses the one they prefer, and Blast Club informs them, before any payment, of the price and consequences of each.

For example, if a Member who has held "Silver" status since janvier ^1st and has invested a total of €5,000 under that status is authorized to upgrade to "Gold" status by the Blast Club selection committee on ^{July 1st}, they will have the ability to invest a total of €45,000 between ^{July 1st} and December 31st (the difference between the maximum investment amount for "Gold" status of €50,000 minus the amount already invested under their "Silver" status). For this upgrade, they will only pay the difference between the price of the "Gold" membership (€3,000) and that of the "Silver" membership (€2,000), i.e., €1,000.

Payment for membership is made exclusively by bank transfer or credit card directly on the Site, using the secure payment module, or by direct debit from the wallet opened in the Member's name in the accounts of the PSP Bank. The amounts mentioned in this article are exclusive of tax, and VAT is determined in accordance with the applicable rules.

A Member has the option to cancel their membership by notifying Blast Club of their request within a cooling-off period of fourteen (14) calendar days from the payment of their membership, provided that the Member has not indicated any intention to subscribe to financial securities of an SPV dedicated to acquiring a stake in a Startup and/or has not subscribed to any financial securities of an SPV dedicated to acquiring a stake in a Startup. In this case, the Member does not need to justify their decision or incur any penalties, and Blast Club will refund all sums paid for their membership no later than fourteen (14) days from the receipt of their request.

A Member also has the option to change their membership status during the term of their membership as follows:

• or by choosing a lower status within a period of fourteen (14) calendar days from the payment of their membership: in this case, the Member will be entitled to a partial refund of the price of their initial membership but will not benefit from the carryover of their credits or, if applicable, any unused initial priority vouchers. The duration of their membership under this lower status will remain the same as that of their initial membership.

For example, a Member who has held a "Gold" membership since February 10 of year N, chooses a "Bronze" membership within 14 calendar days following the payment of their "Gold" membership (i.e., no later than February 24 of year N), will be entitled to a partial refund of the price of their "Gold" membership (up to €1,500, which is the difference between the price of a "Gold" membership at €3,000 and the price of a "Bronze" membership at €1,500) and will then have 10,000 credits and no priority vouchers. Their "Bronze" membership will expire 12 months after the payment of their initial "Gold" membership (i.e., February 10 of year N+1);

• or by choosing a higher status at any time during the term of their membership: in this case, the Member must pay the full price of this new membership and will not be entitled to a refund of the price of their initial membership. This option, which combines the rights of the initial membership with those of the new status, is distinct from the one provided above within thirty (30) days following the payment of the initial membership, which the Member may prefer. They will, however, benefit from the carryover of their credits and, if applicable, their unused initial priority vouchers. Membership under this higher status will expire 12 months after the payment of this new membership.

For example, a Member who has held a "Gold" membership since February 10 of year N, chooses a "Platinum" membership, and pays the "Platinum" membership fee on June 10 of year N, will then have 150,000 credits (the 50,000 credits from their "Gold" membership, provided they have not used them, plus the 100,000 credits from their "Platinum" membership) and 3 priority vouchers (1 priority voucher from their "Gold" membership, provided they have not used it, plus 2 priority vouchers from their "Platinum" membership). Their "Platinum" membership will expire 12 months after the payment of this new membership (i.e., June 10 of year N+1).

At the end of the one (1) year period (unless the Member subscribes to a new membership before the end of the initial membership period), the membership ends and the rights associated with it are terminated. The Member no longer has the ability to invest in Crowdfunding Offers but retains access to their personal space to track Subscriptions made prior to the expiration of this one (1) year period.

In the event of a membership renewal before the end of the initial membership period, the portion of the amount to be invested under their status that was not invested during the initial membership period will be carried over to the renewed membership period.

For example, in the event of a renewal before the end of the initial membership period for a Member who initially subscribed to "Silver" status and invested €5,000 during the initial membership period towards

• "Bronze" status: the Member will have the option to invest a total amount of €30,000 during the renewed membership period (€20,000 carried over from their initial membership, plus €10,000 from their renewed membership);
• "Silver" status: the Member will have the option to invest a total amount of €45,000 during the renewed membership period (€20,000 carried over from their initial membership, plus €25,000 from their renewed membership); and
• "Gold" status: the Member will have the option to invest a total amount of €70,000 during the renewed membership period (€20,000 carried over from their initial membership, plus €50,000 from their renewed membership).

5.2 Investment Fees

As part of Service 2, at the end of the Subscription Period, Blast Club charges investment fees to compensate for the subscription of securities and its intermediation activity, set between 3% and 5% of the Amount Subscribed for each investment made.

The remuneration share is set according to the Subscriber's status and is degressive based on the level of the status, as presented below:

Furthermore, 5% of the Amount Subscribed as part of the investment made by the Subscriber in the SPV will be retained in said SPV and then invoiced by Blast Club as operating expenses, regardless of the holding period of the interest subscribed by the SPV in the relevant Startup.

5.3 Capital Gains Fees

Blast Club will charge:

1. In the event of any transfer validly carried out by an SPV partner under the terms of said SPV's articles of association, a 20% commission on the gain realized by the selling partner, calculated as follows: [Sale price per share net of seller transaction fees] MINUS [Acquisition price per share, excluding Blast Club membership fee, investment fees, operating expenses, transaction fees, or any other fees related to the investment]. This amount will be collected by Blast Club prior to the payment of the realized gain;
2. In the event of any distribution or liquidation proceeds, whether total or partial, from an SPV to a partner of said SPV, a 20% commission on the gain realized by the selling partner, calculated as follows: [Liquidation bonus per share] MINUS [Acquisition price per share net of buyer transaction fees, excluding Blast Club membership fee, investment fees, operating expenses, transaction fees, or any other fees related to the investment]. This amount will be collected by Blast Club in the form of a payment delegation made by the partner to the relevant SPV to settle this commission to Blast Club prior to the payment of the realized gain;
3. In the event of any reduction in the capital of an SPV following a total or partial sale of the securities held by said SPV in the Startup, a 20% commission on the gain realized by the selling partner, calculated as follows: [Repurchase price per share] MINUS [Acquisition price per share excluding Blast Club membership fee, investment fees, operating expenses, transaction fees, or any other fees related to the investment]. This amount will be collected by Blast Club in the form of a payment delegation made by the partner to the relevant SPV to settle this commission to Blast Club prior to the payment of the realized gain.

It is specified, for the avoidance of doubt, that this commission will apply to transactions carried out on the Marketplace.

The amounts mentioned in this article are exclusive of tax, and VAT is determined in accordance with applicable regulations.

5.4 Loyalty Program

Blast Club offers a benefits program linked to the consecutive renewal of a Member's membership (hereinafter a "Renewal").

The benefits provided for in this article are contingent upon the continuous renewal of the Member's membership, without any interruption between two membership periods. Any interruption will result in the loss of the benefits acquired under this article, as well as the resetting of the number of consecutive Renewals.

Benefits are personal, linked to the Member's account, and may not be assigned or transferred.

Subject to compliance with these Terms of Service, the following benefits are granted and may be combined:

• Renewal 1 (Year 2) : allocation of one (1) Priority Voucher, usable under the same conditions as the Priority Vouchers provided for in Article 5.1. Furthermore, starting from Renewal 1, the minimum access threshold for Services is reduced to one thousand (1,000) euros for "Bronze" status and one thousand five hundred (1,500) euros for "Silver" status, instead of the amounts provided for in Article 5.1. This reduced rate remains applicable to each subsequent Renewal subscribed to at one of these statuses, provided that membership is renewed continuously;
• Renewal 2 (Year 3) : a one (1) percentage point reduction on the investment fees mentioned in Article 5.2;
• Renewal 3 (Year 4): the Member receives priority allocation, under the conditions defined by
  the Algorithm, which may go up to a 100% guaranteed allocation of their intent, subject to the limit of their
  formula per Offer. This priority does not apply to Blast capital increase operations, known as "Blast Army."
• Renewal 4 (Year 5): additional one (1) percentage point reduction on investment fees
  mentioned in Article 5.2, bringing the total reduction to two (2) percentage points.

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Beyond Renewal 4, acquired benefits remain applicable subject to maintaining continuous membership renewal.

The fee reductions provided for in this article cannot result in an investment fee rate of less than one (1) percent.

Blast Club reserves the right to modify or terminate this program under the conditions provided in Article 14. However, benefits acquired for a membership period already paid for remain applicable until the end of said period.

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5.5 Transaction fees on the Marketplace

Blast Club collects, as part of Service 3 at the date of transfer of SPV financial securities, transaction fees from buyers on the Marketplace set between 3% and 5% of the acquisition price of said securities for each transfer made.

The remuneration share is set according to the buyer's status and is degressive based on their level, as presented below:

The amounts mentioned in this article are exclusive of tax, and VAT is determined in accordance with applicable rules.

5.6 Additional credits & boosters

The Member will have the option, via the shop available on the Site, to purchase the following services, directly related to the contemplated investment and allowing them to increase their investment beyond what is permitted under the chosen membership plan:

• Additional investment credits, starting at €350, allowing for investments beyond the total limits provided by the chosen membership plan.
• Boosters starting at €150, allowing for subscriptions beyond the authorized limit for an operation.
• Packs including credits and boosters, starting at €500.

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The services thus paid for are exempt from VAT insofar as they are capable of creating, modifying, or extinguishing the rights and obligations of Members and Startups regarding securities.

Payment for credits and boosters purchased on the shop available on the Site is made exclusively by bank transfer or credit card directly on the Site, using the secure payment module, or by direct debit from the wallet opened in the Member's name within the PSP Bank accounts.

Credits and boosters purchased on the shop available on the Site may be used by the Member upon full payment and for the remaining duration of their membership. At the end of the membership period, any unused credits and boosters purchased on the shop available on the Site will be forfeited if the membership is not renewed before the end of the initial membership period. In the event of membership renewal before the end of the initial membership period, any unused credits and boosters purchased on the shop available on the Site will be carried over to the renewed membership period.

A Member may cancel a purchase made on the shop available on the Site by notifying Blast Club of their request within a withdrawal period of fourteen (14) calendar days from the payment of said purchase, provided that the Member has not used the investment credits and/or boosters purchased on the shop available on the Site.

5.7 Information on taxation of securities transfers and capital gains

The Subscriber acknowledges being informed that the transfer of equity securities in unlisted companies is subject to registration duties and that capital gains on the transfer of securities are subject to taxation under conditions specific to the individual situation of each tax household.

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6. Commitments and liability of Blast Club

Blast Club commits to providing the Services in accordance with the Terms of Use. Blast Club commits to providing the Services with diligence, it being specified that it is bound by an obligation of means, excluding any obligation of result, which the Member expressly acknowledges and accepts.

Blast Club does not guarantee to the Member that the Services will be completely free of errors, flaws, or defects, or that they will be continuously available. Furthermore, the Services are standard and are therefore not offered with the sole intention of a specific Member, based on their own personal constraints, nor to specifically meet their needs and expectations.

Blast Club shall in no event be held liable for data, information, and/or content provided by a Startup, whether or not accessible to the public, for the lack of veracity of said data, information, or content, for any errors or omissions they may contain, or for any damages resulting from the use of any content displayed or transmitted via email or any other means via the Site. 

Blast Club only verifies the consistency of the FICI and, for this purpose, relies on the assumption that the data provided by the Startups is accurate and complete.

Blast Club has no general obligation to monitor the data and content provided by Members or Startups, nor any obligation to remove content that does not appear manifestly illegal, despite any potential reporting. However, Blast Club reserves the right to remove content posted by Members or Startups if it does not comply with the publication criteria defined by Blast Club or the Discussion Space Rules. Comments made in the Discussion Spaces by Members, including Community Managers, are the sole responsibility of their authors; Blast Club cannot be held liable for them.

More generally, Blast Club reserves the right, at any time and without notice, to modify any information appearing on the Site as part of its updates or the correction of errors or inaccuracies.

Blast Club is not responsible for the content of third-party websites to which hyperlinks on the Site may lead.

Blast Club commits to:

(i) use its best efforts to ensure the security of the Site;

(ii) inform the Member of any reasonably foreseeable difficulty, particularly regarding the implementation of the Services or the proper functioning of the Site; and

(iii) regularly perform checks to verify the operation and accessibility of the Site.

Blast Club reserves the right to modify the technical terms of access to the Services and/or the Site at any time, depending, in particular, on technological developments or its service offering. It is the responsibility of the Internet User, the Member, and the Subscriber, each as far as they are concerned, to ensure that the computer or telecommunication tools or equipment they possess are adapted to these changes.

Blast Club cannot be held liable for damages resulting from the behavior of third parties, in particular contractual or tortious breaches committed by the Startups (whether in the use of collected funds, in compliance with the rules applicable to their relationship with Subscribers within the framework of the Crowdfunding Offer, or subsequently) or by the PSP Bank.

Blast Club has entered into an extinction management agreement with the company Capsens (798 709 044 R.C.S. Paris), in accordance with the provisions of Articles L. 548-6 and R. 548-9 of the French Monetary and Financial Code. This agreement provides that Capsens, in its capacity as a payment service provider agent, will be responsible for managing the continuation of ongoing operations in the event of the cessation of Blast Club's activities, whether deployed within the framework of its regulated crowdfunding activity or otherwise. In the event of the implementation of extinction management, a 10% fee will be deducted by Capsens from each amount paid to a Member.

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7. Disclaimer of Warranty

7.1 No guarantee of information contained on the Site

The Member expressly acknowledges and accepts that Blast Club does not guarantee any information regarding the financial transactions presented on the Site. All information is provided by the Startup and is under its sole responsibility. The data is based on information considered reliable, but Blast Club does not in any way guarantee that it is accurate, complete, or valid, and such information should not be relied upon for any purpose. It is the responsibility of Members to gather and verify all information they deem useful for making an investment decision. Blast Club only verifies the consistency of the FICI and, for this purpose, relies on the assumption that the data provided by the Startups is accurate and complete.

All content on the Site is presented as of the date indicated and is provided "as is." The content of the Site may be subject to delays, omissions, errors, or inaccuracies.

The publication of a valuation on the Site does not in any way constitute a guarantee of the company's value, and it is the responsibility of Members to gather all information they deem necessary to form a judgment on the proposed valuation and determine the suitability of an investment.

The Member acknowledges having been informed that, unless otherwise stated, the Crowdfunding Offers provided on the Site do not require an information document approved by the Autorité des Marchés Financiers (AMF).

The Member expressly acknowledges that no advice or information, whether oral or written, obtained by the Member from Blast Club or during the use of the Site is likely to create any warranties or obligations not expressly provided for in these Terms of Use.

7.2 No guarantee for investments made through the Site

The Member expressly acknowledges being fully aware that:

1. Any investment in the capital of Startups and any acquisition of SPV financial securities on the Marketplace present a high risk of loss of the entire capital invested and/or the acquisition price paid, and a total lack of liquidity at the end of the desired investment or acquisition period; and
2. The crowdfunding services offered on the Marketplace are not covered by the deposit guarantee scheme established in accordance with Directive 2014/49/EU, and the transferable securities acquired through the Marketplace are not covered by the investor compensation scheme established in accordance with Directive 97/9/EC.

The Member holds exclusive and absolute control over the management of their assets and retains full and sole responsibility for their investments. It is their responsibility to determine their investments and placements with discernment, taking into account their personal, family, financial, and tax situation.

The Member acknowledges that any investment made and discovered on Blast Club presents significant risks to their assets, as mentioned above, and declares that they accept these risks without reservation for each of the investments they make through the Site.

The Member expressly and irrevocably agrees to refrain from investing in financial products presented on the Site if (i) the Member believes that the information available to them is insufficient to fully assess the investment opportunity, (ii) the Member believes that their understanding of the proposed financial product and the associated risks is insufficient, or (iii) their personal, family, financial, or tax situation does not allow them to invest with peace of mind given the risks presented by the financial product in which they are considering investing.

In any event, Blast Club shall in no way be held liable for an inappropriate investment, and Blast Club disclaims all liability regarding the consequences of any nature, including financial, legal, and tax-related, of the subscription to financial securities.

8. Member commitments and liability

Compliance with applicable regulations. The Member declares that they strictly comply with all legal, regulatory, and administrative provisions applicable to them, the violation of which could affect their capacity to enter into obligations within the framework of the Services.

Accuracy of information provided. The Member agrees to provide Blast Club with all information and/or documents necessary for the proper performance of these terms for the provision of the Services and, more generally, to cooperate actively with Blast Club for the proper performance of these terms. If the Member does not comply with this obligation, Blast Club reserves the right to suspend the Services until the required information or documents are obtained. The Member guarantees to Blast Club that all information and documents provided to Blast Club are accurate, up-to-date, and sincere on the day they are communicated to Blast Club and are not misleading or likely to induce error. If the information and/or documents provided become inaccurate or obsolete during the term of the Terms of Use, the Member agrees to update them and/or transmit an updated version of the relevant documents on the Site as soon as possible. More generally, it is the Member's responsibility to formally notify Blast Club of any change in their information. Blast Club is not responsible for any damage that may result from an inaccuracy or a change of which it was not notified.

Protection of personal access codes. Passwords and identifiers used to access the Member's personal account are personal; the Member agrees not to disclose them and to protect their confidentiality. As such, the Member is solely responsible for their use, and any use of the Site by a third party with a Member's credentials is deemed to have been made under their responsibility and with their consent.

Personal use of the Site and Services. The Member agrees to make strictly personal use of the Site and Services and not to allow any third party to use them in their place or on their behalf, unless they assume full responsibility for doing so. The Member understands and accepts that Blast Club presumes that any person using the Site and Services on behalf of the Member (unless the Member has provided prior notification to Blast Club to the contrary) has the required power and authority to do so. The Member agrees to immediately notify Blast Club if an event leading to the use of the Site by a third party or any other unauthorized person should occur.

Confidentiality commitment. Members will have access to detailed information about the Startups presented on the Site. The Member agrees to Blast Club, for the entire duration of their access to each of the Services and for two (2) years following the expiration of this period, to: (i) not disclose to any third party, in whole or in part, information considered confidential—that is, information accessible from the Site only after identification—without the consent of Blast Club and the relevant Startup; (2) not use this information for any purpose other than evaluating the opportunity to invest in the Startups presented on the Site and through its intermediary, and/or to acquire SPV financial securities on the Marketplace; (3) not take a direct equity stake in the Startup, under penalty of having their access to the Services terminated (it being specified that the Member will nevertheless retain access to their personal space for tracking Subscriptions made prior to the effective date of the termination of access to the Services). Access to the Services entails the obligation to take equity stakes in the Startups offered through the SPVs created by Blast Club.

Use of the Site and Services. Internet users and Members agree, each for their own part, to: (i) not violate or attempt to violate, scan, or test the vulnerability of the security system and related systems of the Site; (ii) not access or attempt to access any data not intended for the Internet user or Member; (iii) refrain from interfering with the normal operation of the Site or performing any action that could cause the interruption or degradation of one or more Services; (iv) not upload, post, email, or otherwise transmit any material containing software viruses or other computer codes, files, or programs designed to interrupt, destroy, or limit the functionality of the Site; and (v) not attempt to interfere with the Services of any other Member or user, host, or network, including, but not limited to, exposing the Services to a virus, overloading the server, or flooding the server or messaging services.

Member acknowledges having read and understood the characteristics and constraints, particularly technical ones, of all Services. The Member is solely responsible for their use of the Services. Internet users and Members are informed and accept, each for their own part, that browsing the Site and using the Services requires an Internet connection and that the quality of the Services may depend on this connection as well as on third-party computer equipment and/or software, for which they are solely responsible.

Use of Exchange Spaces. Members with a valid membership have access to the Blast Discord server as part of their membership, allowing them to interact with other Members, the Blast Club team, and Startup founders, as well as their Community under the conditions set forth in Article 4.5. Members agree to comply with the Exchange Space Rules. Any abusive, defamatory, false, discriminatory, or illegal content is strictly prohibited.

Protection of other Members' data. All Members, including Community Managers, are prohibited from: (i) copying, exporting, sharing, or using the phone numbers, profiles, and messages of other Members outside of the relevant Exchange Space, including for the purpose of contacting them for commercial purposes; and (ii) distributing screenshots or exchanges that took place within the Exchange Spaces to third parties.

Solicitation ban. All Members are prohibited, whether online or in person, in public or in private, from soliciting other Members for:

• promote an investment opportunity external to Blast Club (including startups, funds, financial vehicles, or crypto-assets);
• recruit for a third-party investment club, fund, network, or platform;
• offer investment advisory services, wealth management, or any other service;
• organize or announce events aimed at soliciting investors for an external project;
• post referral links or engage in self-promotion.

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Member Opinions. Opinions shared in the Exchange Spaces are the sole responsibility of their authors and do not constitute investment advice. No personalized advice, wealth diagnostics, or tax advice should be given there. Each Member remains solely responsible for their investment decisions, in accordance with Article 7.2.

Moderation. Blast Club, directly or through service providers acting on its behalf, administers and moderates the Exchange Spaces according to rules common to all Members. In this capacity, it may remove any content that violates these terms or the Exchange Space Rules and retain only the exchanges related to a reported or observed breach, under the conditions provided by its privacy policy. Blast Club will never ask a Member to invest, make a payment, or share their login credentials through an Exchange Space.

Sanctions. Any breach of the "Protection of other Members' data" or "Solicitation prohibition" sections will result in immediate and permanent exclusion from the Community and the Blast Discord server, and may lead to the termination of membership under the conditions of Article 11. Other breaches of the Exchange Space Rules will be subject to graduated measures depending on their severity: a reminder of the rules, content removal, a warning, temporary or permanent removal from the relevant Exchange Space, removal of access to the Marketplace, and, if applicable, non-acceptance of a membership renewal request. Unless urgent, the Member will be informed of the proposed measure and its reasons and may submit their observations via email to contact@blast.club.

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9. Personal Data Protection and Privacy Policy

In the course of using the Site, Blast Club collects personal information about its Members. Blast Club is committed to complying with current legislation regarding the protection of privacy with respect to the automated processing of personal data, as these concepts and regulations are defined by Regulation (EU) 2016/679 of the European Parliament and of the Council of April 27, 2016, on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (GDPR).

Blast Club is committed to keeping all personal information provided through this channel confidential. This information is intended for Blast Club and its service providers acting on its behalf for internal processing purposes, subject to the paragraph below, and will under no circumstances be sold to third parties for commercial use. This information and data are also stored for security purposes to comply with the legal and regulatory obligations to which Blast Club is subject. This data is processed and stored by the Site's host, identified in the legal notices on the Site, under conditions designed to ensure its security.

WhatsApp Communities. When a Member joins a WhatsApp community and expressly consents to it via the dedicated checkbox on the Site, their phone number, WhatsApp profile (the name and photo they have chosen, depending on their privacy settings), and the messages they post are visible to other members of the Community and its administrators, namely the Blast Club team, its service providers acting on its behalf, and the Community Managers. Depending on the Member's settings and the features offered by WhatsApp, their number may not be visible to other members; it remains visible to administrators at all times. Blast Club does not share any other information regarding the Member. WhatsApp is a service provided by a third party, which processes this data as a separate data controller in accordance with its own privacy policy.

This consent is separate from the acceptance of these Terms of Use; refusing it has no impact on the Member's membership or access to other Services. The Member may withdraw this consent at any time by leaving the Community. Published messages remain visible after departure, unless deleted by the Member using the features provided by WhatsApp.

Blast Club reserves the right to use collected personal information, as well as technical and navigation information—such as browser type, IP address, pages visited, and average time spent on the Site—in an anonymous manner for any activities related to the analysis and promotion of the Site.

Members are informed that their data may be disclosed in compliance with a law, regulation, or decision from a competent regulatory or judicial authority, or to a service provider (notably the PSP Bank) in compliance with a law, regulation, or decision from a competent regulatory or judicial authority, or if deemed necessary by Blast Club, in the context of legal proceedings or an audit by a supervisory authority.

In accordance with GDPR regulations, any User whose data is collected has the right to access, modify, delete, and rectify their personal information. This right may be exercised by contacting Blast Club via email at the following address: support-membre@blast.club

To learn more, including details on purposes, recipients, retention periods, and how to exercise your rights, please consult our privacy policy.

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10. Intellectual Property

Blast Club owns the Site, including its technical, graphic, textual, and other components, excluding content provided by the Members themselves and by the Startups.

Blast Club is the sole owner of all intellectual property rights related to the Site, its content, and the databases that power it. Use of the Site does not grant Members any rights to any of these elements, subject to the rights pertaining to content provided by the Members themselves and by the Startups.

Acceptance of these Terms of Use constitutes acknowledgment by Users and Members of Blast Club's intellectual property rights listed above and a commitment to respect them.

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11. Term and termination

Access to the Site is granted for an indefinite period starting from the Member's acceptance of the Terms of Use, subject to the provisions set forth in this Article.

Termination at the Member's initiative. During the fourteen (14) calendar day period following payment of their membership (the withdrawal period provided for in Article 5.1), the Member may request to no longer have access to the Services by sending an email to the following address: support-membre@blast.club. They will then no longer have access to the Site or the restricted-access pages of the Site, will no longer be able to use the Services, and will be refunded under the conditions provided for in Article 5.1.

Notwithstanding the foregoing, the Member shall remain bound by the obligations regarding the realization of a capital gain upon the sale of an interest as stipulated in Article 5.3 of these Terms of Use, until such time as they hold at least one share of an SPV created by Blast Club.

Automatic termination. Without prejudice to any damages that Blast Club may claim, Blast Club reserves the right, at any time, to suspend or terminate the Member's access to the Services, to the restricted-access pages of the Site, and/or to automatically terminate, without notice, compensation, or refund of any portion of the fees provided for in Article 5, the contractual relationship resulting from the acceptance of the Terms of Use, or to decline any potential membership renewal request in the event of, in particular:

• circumvention or attempted circumvention of technical protection measures implemented by Blast Club, or the provision of false, misleading, or inaccurate information when requesting access to the Services or during the use of the Services;
• dissemination or use of information provided in the personal space in a manner contrary to its intended purpose;
• fraud, in any form whatsoever, or attempted fraud, in any form, when requesting access to the Services or during the use of the Services;
• total or partial non-payment by the Member of the remuneration due to Blast Club as provided for in Article 5;
• breach of the "Protection of other Members' data" or "Prohibition of solicitation" paragraphs of Article 8;
• failure to comply with any of the commitments set forth in these Terms of Use, the Community Guidelines, and/or the referral program rules;
• unfair actions or actions contrary to the commercial interests of Blast Club.

Termination at the initiative of Blast Club. Blast Club reserves the right, at any time, at its discretion and without notice, to terminate the Member's access to the Services and will, in such case, proceed to refund the access fees for the Services provided for in Article 5.1.

In all three cases of termination, the Member will retain access to their personal account to track Subscriptions made prior to the effective date of termination.

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12. Complaints

En cas de réclamation concernant le Site et les Services, l’Internaute ou le Membre devra se conformer au processus décrit sur ce lien. 

Blast Club undertakes to assess and process the admissibility of the request as soon as possible.

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13. Entire Agreement

If one or more clauses of the Terms of Use are declared null and void pursuant to any law, regulation, or final decision of a competent court, the remaining clauses shall retain their full force and effect to the extent permitted by said decision.

Clauses declared null and void will, in accordance with the spirit and purpose of these terms, be replaced by other valid clauses which, given their scope, come as close as legally permitted to the clauses declared null and void.

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14. Modification of the Terms of Use

The Terms of Use may be modified by Blast Club at any time and without notice.

These modifications will be notified by any means that Blast Club deems appropriate, including by email.

If the Member does not object within a period of ten (10) calendar days, these modifications will be considered approved and will take effect on the date specified in the notification sent to the Member.

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15. Evidence

The dispatch and content of correspondence or communication are established by the simple production of a copy thereof by Blast Club.

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16. Governing Law

These Terms of Use are governed by French law. Given the global nature of the Internet, each Member is invited to comply with all rules applicable in their country of residence.

If the laws of a country prohibit Blast Club's activity under the conditions provided for in the Terms of Use, the Member agrees not to use the Services offered by Blast Club.

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Blast.club OPTF Terms of Use

It is important to read and understand the General Terms of Use of the Blast.club website carefully. By accepting these terms, you agree to comply with the terms and conditions below, as well as the general terms of use of LEMONWAY.

‍Members' attention is drawn to the fundamental difference between:

• the offer from Blast.club as a financial intermediary regulated by the AMF as a PSFP authorized under number FP-2023-12 and

• the offer known as "OPTF" concerning securities proposed by companies controlled by Blast or its main associates (with Blast acting within the strict framework of Article L. 531-2 of the French Monetary and Financial Code).

These General Terms of Use relate exclusively to this second offer, known as "OPTF," and Members understand and accept that they are not within the scope of the PSFP (Crowdfunding Service Provider) framework.‍
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Preamble

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The "OPTF" section of Blast.club allows individuals or legal entities with valid access rights to the services offered by Blast.club (hereinafter the "Members") to access Public Offers of Financial Securities proposed by companies controlled by Blast or its main associates, acting as issuers (hereinafter the "Issuers"), in order to invest indirectly in projects in which the latter wish to invest.

The Issuers will be incorporated as public limited companies (sociétés anonymes) and will have a share capital of at least €37,000.

Detailed information regarding the Issuers will be provided to Members for each contemplated investment transaction.

The Issuers' purpose shall be:

• the acquisition, holding, and management of shares in unlisted companies;
• the accomplishment of all related or complementary activities linked to this purpose;
• and, more generally, all operations strictly contributing to the achievement of this purpose.

The Public Offers of Financial Securities proposed by Blast meet the requirements of Regulation (EU) 2017/1129 of June 14, 2017, and the provisions of Article L. 411-2-1 of the French Monetary and Financial Code, particularly regarding the issuance of a public offer (i) below the threshold of 8 million euros over a rolling twelve-month period, or (ii) addressed to qualified investors and/or a circle of fewer than 150 investors, or (iii) with a minimum investment ticket per investor exceeding €100,000.

In this context, and prior to any subscription, Investor Members will have access to either the Prospectus, the Key Information Document, or a promotional document issued specifically for each offer, in accordance with, among other things, AMF Position-Recommendation 2018-07.

Issuers use the Blast.Club website. Investor Members therefore have the ability to invest in the projects they offer directly online and in a completely paperless manner.

Blast has set up a dedicated email address to allow each Investor Member to contact them directly regarding an Issuer's transaction: support-membre@blast.club

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Definition

“AMF” refers to the Autorité des Marchés Financiers (French Financial Markets Authority).

“PSP Bank” refers to LEMONWAY, a simplified joint-stock company with its registered office at 8, rue du Sentier, 75002 Paris, registered with the Paris Trade and Companies Register under number 500 486 915, for which Blast Club is an agent, or any other payment service provider within the meaning of Article L. 314-1 of the Monetary and Financial Code for which Blast Club becomes an agent, which is the bank responsible for receiving the Subscribed Amounts.

“Priority Voucher(s)” refers to the right held by certain Members—for specific Offerings of which Members will be notified—depending on the selected plan (described in more detail in Article 5.1) or following an additional purchase on the shop available on the Site (the operation of which is described in more detail in Article 5.6 of the PSFP Terms and Conditions), to participate in an Offering on a priority basis up to the desired intent amount, even if the intentions expressed by all Members during the Intent Period exceed the maximum investment amount. This priority is exercised after the service of any higher-ranking priority tiers provided by the Algorithm and applicable to the relevant Offering. Consequently, in the rare cases where these priority tiers, or the Priority Vouchers themselves, absorb all or part of the maximum investment amount, the holder of a Priority Voucher remains guaranteed to participate in the Offering but may be assigned a reduced allocation.

“PSFP Terms and Conditions” refers to these general terms and conditions of use of the Site, specifically the section pertaining to Blast’s crowdfunding services as a PSFP. Any reference to the PSFP Terms and Conditions shall be understood mutatis mutandis.

“Terms of Use” refers to these general terms and conditions of use.

“DIS” refers to the Synthetic Information Document (Document d’Information Synthétique) prepared pursuant to Article 212-44 of the AMF General Regulation and in accordance with AMF Position-Recommendation 2018-07 (as may be amended from time to time), as well as any promotional document relating to an Offering.

“Issuer” is a company controlled by Blast or its main associates that is conducting an Offering.

“User” refers to any person browsing the Site without having completed the access request process for the Services. For the avoidance of doubt, a User is not a Member.

“Member” refers to the natural or legal person (i) who has completed the access request process for the relevant Service(s), whose request has been validated by Blast Club, allowing them to use the Service(s) and access restricted pages, and (ii) who wishes to use all or part of the Services.

“Subscribed Amount” refers to the sum paid by a Subscriber as part of a Public Offering of Financial Securities.

“Offering” refers to the Public Offering of Financial Securities proposed by an Issuer.

“Subscription Period” refers to the Subscription phase during which a Member who expressed an intention during the Intent Period must effectively subscribe to the financial securities of the relevant Issuer and release their Subscription, notably through the PSP Bank.

“Intent Period” refers to the intent phase during which each Member may express an intention to subscribe to financial securities of an Issuer.

“Services” refers to all services offered by Blast Club and described in Article 4 of the PSFP Terms and Conditions.

“Site” refers to the Blast Club website accessible at the following address:

https://blast.club/

“Subscriber” refers to any Member who completes a Subscription and proceeds with the payment of the corresponding Subscribed Amount.

“Subscription” refers to the commitment made by a Subscriber to participate in an Offering.

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1. Acceptance of the Terms of Use

By browsing the Site, the User accepts the Terms of Use without reservation. If the User does not accept the Terms of Use, they understand that they must not use the Site in any way.

These Terms of Use shall be considered as those applicable at the time of their acceptance, whether tacit or express.

The Terms of Use apply for an unlimited duration, subject to Article 11, for the entire duration of navigation on the Site, and in the case of a Member, for the duration of the use of the personal space and until new terms replace these or termination is pronounced under Article 11.

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2. Right of access to the Services

To access the Offers, the User must obtain Member status.

To become a Member, the User must (cumulatively and without exception):

• have been selected and approved by Blast Club,
• create a personal account on the Site,
• acquire and pay for the right to access the Services corresponding to the selected plan (described in more detail in Article 5.1 of the PSFP Terms and Conditions),
• fill out the various fields in the request form for access to the Services on the Site and
• confirm their acceptance of the Terms of Use.

The request for access to the Services is only effective after all the conditions mentioned above have been met and the profile has been accepted by the Blast Club team. Blast Club reserves the right to accept or refuse any request for access to the Services, without any obligation to justify its decision or provide any compensation.

By completing the request form for access to the Services, the Member guarantees to Blast Club that they have provided accurate, truthful, up-to-date, and complete information regarding their identity, contact details, and all additional information requested.

The Member is requested to provide an email address that will be used for:

• the entire Member identification process (notably for accessing their personal account),
• confirming transactions made by the Member on their personal account,
• for communicating any information regarding their personal account to Members and
• all information regarding the use of the Services available on the Site.

Should the Member wish to change their login credentials, they may simply visit the Site and update their settings in the "My Account" section or contact Blast Club via email at the following address: support-membre@blast.club

If the Member’s login credentials fall into the hands of third parties due to their own negligence, the Member shall be solely responsible for any use of these credentials and any subsequent use of the Services.

The Member agrees to keep the information provided to Blast Club in connection with the use of the Site up to date at all times by informing Blast Club of any changes that may affect their declarations via email at the following address: support-membre@blast.club

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3. Access to the site

The following will be available for Users to view on the public pages of the Site:

• the Terms of Use,
• the legal notice,
• the privacy policy,
• the risks associated with investments on the Site,
• the page explaining the complaint process for PSFP projects,
• the link to the PSP Bank's general terms and conditions,
• a presentation of Blast Club, its operations, and its selection policy, as well as its contact details and its PSFP authorization number from the Autorité des Marchés Financiers.

All information presenting the Issuer Offers and access to the personal account and restricted pages of the Site are reserved exclusively for Members.

To become a Member, the User (whether an individual or a legal entity) who has previously paid the access fee for the Services corresponding to the selected plan (as described in more detail in Article 5.1 of the PSFP Terms and Conditions) must request access on the Site by completing each of the following steps:

1. Complete a questionnaire allowing Blast Club to verify the suitability of the Member's profile with the type of risk presented by the Crowdfunding Offers and the Services offered. The initial process requires each Member to complete the various questionnaires related to Blast Club's PSFP activity. However, as stated in the preamble to these OPTF Terms and Conditions, the Issuer Offers fall outside the scope of Blast Club's PSFP activity. Therefore, if a Member wishes to access only the Issuer Offers and not complete the PSFP tests, they may send their request to the following email address: support-membre@blast.clubPlease note that the PSFP process requires the suitability test to be renewed annually or sooner if Blast Club is informed by the Member of a change in their family, financial, or asset situation, or their investment objectives, provided that such changes are likely to significantly alter the results of their most recent suitability test;
2. Provide additional information regarding their identity (e.g., date of birth, address, tax residence, SIRENE number, etc.); and
3. Submit the required supporting documents electronically (via the Site interface), namely: (i) for individuals: a copy of a valid identity document, and (ii) for legal entities: a Kbis extract less than three (3) months old, certified articles of association, a copy of a valid identity document of the legal representative, and a declaration of beneficial owners.

Once this information has been collected, Blast Club will proceed with the standard checks regarding the Member's identification.

Once all the above steps have been completed by the Member and validated by Blast Club, the latter will notify the Member of the confirmation or denial of their Member status. This notification will be provided, as far as possible, within twenty-four (24) business hours from the day all the information listed above has been provided on the Site.

The Member is solely responsible for any use made of their private access (username and password), is solely responsible for its security, and is responsible for all use of their account.

The Member agrees to notify Blast Club immediately of any unauthorized use of their account and any breach of the confidentiality and security of their identification credentials by email at the following address: support-membre@blast.club.

If Blast Club has legitimate grounds to believe that the security of the Site is compromised or that it is being misused due to unauthorized use of the Member's identification credentials, it may temporarily suspend the account, particularly to preserve the integrity of the Site and data, and, if deemed appropriate, require the modification of these identification credentials.

The Member acknowledges having the necessary skills and resources to access and use the Site.

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4. Description of offers and services

Apart from the projects proposed by the PSFP platform Blast.club on the dedicated interface of the Site, Members have access to Issuer Offers and information related to their operations (once they become shareholders of any of them).

4.1 Issuer Offers

4.1.1 Presentation

Issuers will occasionally offer Members the opportunity to invest in their capital to help finance investment projects in high-potential companies (hereinafter the "Targets").

These fundraising rounds fall strictly within the scope of European regulations regarding Public Offers of Financial Securities set forth by Regulation (EU) 2017/1129 of June 14, 2017, which requires the preparation of a Prospectus subject to AMF approval if the Offer is addressed to investors who are not qualified investors and/or to a circle of more than 149 investors, exceeds 8 million euros over a rolling twelve-month period, and the minimum ticket per investor is less than €100,000.

These fundraising rounds may also be less than eight (8) million euros calculated over a period of twelve (12) months and/or be addressed to qualified investors and/or a circle of fewer than 150 investors and/or have a minimum ticket per investor greater than €100,000. As such, these fundraising rounds will be exempt from the obligation to prepare a prospectus subject to AMF approval under paragraph 4 of Article 1 and Article 3(2)(b) of Regulation (EU) 2017/1129 of June 14, 2017.

All information and financing conditions for the Offers will be found in the documentation provided to the Member prior to the finalization of their investment (articles of association, subscription form, and KIIS).

In accordance with the provisions of Article 212-44 of the AMF General Regulation and Position-Recommendation 2018-07, Issuers will provide Members with a KIIS containing the information listed in Article 4.1.2 of these terms prior to any subscription.

When the offer is less than eight (8) million euros calculated over a period of twelve (12) months, the KIIS is also sent to the AMF for information purposes. In this case, Members are advised that this KIIS is not subject to AMF approval.

Due to certain market constraints in which Issuers may invest, the identity of the Targets and information related to them may only be available after the Member has completed their investment in an Issuer's capital. In such cases, the Member will be offered the option (opt-out) to withdraw from the investment upon review of said information by selling their shares and receiving a refund of any shareholder current account balance, without remuneration or penalty.

4.1.2 Key Investment Information Sheet (KIIS)

In accordance with Position-Recommendation 2018-07, each KIIS includes:

• a presentation of the Issuer and a description of its business, project, and the use of the funds raised, accompanied in particular by the latest financial statements if available, forecasts regarding business, fundraising, financing, and cash flow, as well as an organizational chart of the management team and shareholding structure;
• information on the level of participation to which the Issuer's executives have committed themselves as part of the proposed Offering;
• comprehensive information on all rights attached to the securities offered as part of the proposed Offering (voting rights, financial rights, and information rights), as well as on the categories of beneficiaries of these securities;
• a description of the provisions contained in the articles of association or a shareholders' agreement that organize the liquidity of the securities, or an explicit statement regarding the absence of such provisions;
• the conditions under which copies of the entries in the individual accounts
• of the investing Members in the Issuer's books, evidencing the ownership of their securities and any shareholder current accounts, will be issued;
• a description of the risks specific to the Issuer's business and project;
• if they exist, a copy of the reports from corporate bodies to the general meetings for the last financial year and the current financial year, as well as, where applicable, a copy of the report(s) from the statutory auditor(s) prepared during the last financial year and the current financial year;
• the date of the KIIS version.

Each Issuer shall be responsible for the completeness, accuracy, and balance of the information provided in this regard.

4.1.3 Risk Warning

The decision to express interest, subscribe, or withdraw belongs entirely to the investing Member and is their sole responsibility. An Issuer cannot be held liable for the financial and tax consequences of decisions made by the investing Member.

Consequently, Members are invited to carefully read all documentation made available to them on the Site before expressing their interest or investing.

Furthermore, it is reiterated that any investment in unlisted companies involves specific risks, such as:

• risk of partial or total loss of the invested capital;
• risk of illiquidity of the subscribed securities (resale is not guaranteed);
• risk of partial or zero repayment of any shareholder current accounts;
• risk of unavailability of invested funds (as the return on investment depends on the success of the investments made by the funded Issuer).

It is the responsibility of each Member, when considering an investment in an Offering, to ensure through their own due diligence, studies, and analyses—and, where applicable, those of qualified and competent professionals—that this investment aligns with their investment strategy and corresponds to their personal, financial, asset, and tax situation.

In addition to the tests performed on the Site, it is recommended that each Member conduct a precise and detailed analysis for every investment contemplated in an Issuer:

1. of their financial capacity to bear the economic risk of the contemplated investment,
2. that they have sufficient means to provide for their current and future needs and those of their family and loved ones, and
3. have no liquidity needs with regard to the contemplated investment.

By subscribing to an Offering, the Member is deemed to expressly declare that they are aware of and apply the essential wealth management rules regarding investment in the capital of unlisted companies, including the following principles:

• Do not invest more than 5% to 10% of your net worth (excluding real estate) in this asset class,
• Do not invest savings that might be needed in the short or medium term,
• Diversify investments as much as possible within this asset class, so that each investment never represents more than 10% of the invested portfolio, and
• The return on investment depends on the success of the investments made by a funded Issuer.

These general points are provided for informational purposes, and compliance with them does not constitute any obligation on the part of Blast Club.

4.2 Meetings between Members

To allow the Member to position themselves, express their interest in an Offering, and subscribe to that offering, they will have the opportunity to access meeting and discussion sessions. Since Blast Club provides general information and the Member remains responsible for conducting their own due diligence for the purpose of the Subscription, the purpose of these meetings will be to allow Members to discuss the proposed Offerings.

No volume is guaranteed. If no meeting is organized, the Member will not have access to any meetings.

This Service is provided free of charge.

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5. Blast Club Remuneration

The Services offered by Blast Club are provided for a fee, with the exception of meetings between Members and the Community Program described in Article 4.5 of the PSFP Terms and Conditions, which are provided free of charge. The pricing conditions applicable to Members are summarized below.

5.1 Right of access to the Services

The term "membership" used on the Site refers to the right of access to the Services that a Member must pay for. Registration as a Member on Blast Club is fee-based and is valid for one (1) year. The costs of this registration are a necessary prerequisite for making an investment.

Only a Member has the option to subscribe to Offerings. The membership fees paid by the Member are therefore based on the investment the Member intends to make during the period.

These membership fees therefore constitute a service for connecting a Member with an Issuer and are, as such, exempt from VAT.

Thus, depending on the membership status, the Member will have the following rights:

• "Bronze" status, the right to invest a maximum amount of €2,000 per Offering and €10,000 in total over 1 year, subject to payment of a service access fee of €1,500 (reduced to €1,000 starting from the first renewal, under the conditions of Article 5.4 of the PSFP Terms and Conditions). No Priority Voucher;

• "Silver" status, a right to invest a maximum amount of €5,000 per Offer and €25,000 total over 1 year upon payment of a Service access fee of €2,000 (reduced to €1,500 starting from Re-membership 1, under the conditions of Article 5.4 of the PSFP T&Cs). No Priority Vouchers;

• "Gold" status, a right to invest a maximum amount of €15,000 per Offer and €50,000 total over 1 year upon payment of a Service access fee of €3,000. 1 Priority Voucher;

• "Platinum" status, a right to invest a maximum amount of €30,000 per Offer and €100,000 total over 1 year upon payment of a Service access fee of €5,000. 2 Priority Vouchers; and

• "Diamond" status, a right to invest a maximum amount of €100,000 per Offer and an unlimited total amount over 1 year upon payment of a Service access fee of €10,000. 3 Priority Vouchers.

A Member will have the option, provided the Blast Club selection committee has issued a favorable opinion, to change their status to a higher one, provided they have submitted this request within thirty (30) calendar days following the payment of their initial membership. In this regard, the Member will benefit from the higher status starting from the date the favorable opinion is notified by the Blast Club selection committee and the payment of the Service access fee corresponding to the new status is made. The amount invested under their previous status will be deducted from the amount to be invested under their new status.

For example, if a Member with "Silver" status since January 1st who has invested €5,000 under that status is authorized to upgrade to "Gold" status by the Blast Club selection committee on July 1st, they will have the ability to invest a total amount of €45,000 between July 1st and December 31st (i.e., the difference between the maximum investment amount for "Gold" status of €50,000 minus the amount already invested under their "Silver" status).

Payment for the membership is made exclusively by bank transfer or credit card directly on the Site, using the secure payment module, or by debiting the wallet opened in the Member's name at the PSP Bank. The amounts mentioned in this article are exclusive of tax, and VAT is determined in accordance with applicable rules.

A Member has the option to cancel their membership by notifying Blast Club of their request within a cooling-off period of fourteen (14) calendar days from the payment of their membership, provided that the Member has not indicated any intention to subscribe to or has not subscribed to an Offer proposed by Blast Club.

A Member also has the option to change their membership status during its term as follows:

• or by choosing a lower status within a period of fourteen (14) calendar days from the payment of their membership: in this case, the Member will receive a refund of a portion of their initial membership fee but will not benefit from the carry-over of their credits or, if applicable, any unused initial Priority Vouchers. The duration of their membership under this lower status will remain the same as their initial membership.

For example, a Member holding a "Gold" membership since February 10 of year N who chooses a "Bronze" membership within 14 calendar days following the payment of their "Gold" membership (i.e., no later than February 24 of year N) will receive a refund of a portion of their "Gold" membership fee (up to €1,500, which is the difference between the €3,000 "Gold" membership price and the €1,500 "Bronze" membership price) and will then have 10,000 credits and no Priority Vouchers. Their "Bronze" membership will expire 12 months after the payment of their initial "Gold" membership (i.e., February 10 of year N+1);

• either by choosing a higher status at any time during their membership: in this case, the Member must pay the full price of this new membership and will not be entitled to a refund of their initial membership fee. They will, however, benefit from the carry-over of their credits and, if applicable, their unused initial Priority Vouchers. Membership under this higher status will expire 12 months after the payment of this new membership.

For example, a Member holding a "Gold" membership since February 10 of year N who chooses a "Platinum" membership and pays the "Platinum" membership fee on June 10 of year N will then have 150,000 credits (the 50,000 credits from their "Gold" membership, provided they have not used them, plus the 100,000 credits from their "Platinum" membership) and 3 Priority Vouchers (1 Priority Voucher from their "Gold" membership, provided they have not used it, plus 2 Priority Vouchers from their "Platinum" membership). Their "Platinum" membership will expire 12 months after the payment of this new membership (i.e., June 10 of year N+1).

At the end of the one (1) year period (unless the Member subscribes to a new membership before the end of the initial membership period), the membership ends and the rights associated with it are terminated. The Member no longer has the ability to invest in Offers but retains access to their personal space to track Subscriptions made prior to the expiration of this one (1) year period.

In the event of a membership renewal before the end of the initial membership period, the portion of the investment amount under their status that was not invested during the initial membership period will be carried over to the renewed membership period.

For example, in the event of a renewal before the end of the initial membership period for a Member who initially subscribed to a "Silver" status and invested €5,000 during the initial membership period towards

• a "Bronze" status, the Member will have the option to invest a total amount of €30,000 during the renewed membership period (€20,000 carried over from their initial membership, plus €10,000 from their renewed membership);

• a "Silver" status, the Member will have the option to invest a total amount of €45,000 during the renewed membership period (€20,000 carried over from their initial membership, plus €25,000 from their renewed membership); and

• a "Gold" status, the Member will have the option to invest a total amount of €70,000 during the renewed membership period (€20,000 carried over from their initial membership, plus €50,000 from their renewed membership).

5.2 Fees

No specific fees will be charged to Members for the Offers proposed to them or for their potential subscriptions.

However, Members should note that Blast will charge fees and commissions to Issuers for the services Blast provides to them. These fees and commissions will be described, on a case-by-case basis, on the Website and in the fundraising documentation, the DIS or the Prospectus (depending on the nature of the Offers), for each transaction.

5.3 Information on Taxation of Share Transfers and Capital Gains

The Subscriber acknowledges that the transfer of shares in unlisted companies is subject to registration fees and that capital gains on the transfer of shares are subject to taxation under conditions specific to each Member's particular situation.

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6. Members' Commitments and Responsibilities

See Blast.club T&Cs – PSFP, section 8

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7. Personal Data Protection and Privacy Policy

See Blast.club T&Cs – PSFP, section 9

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8. Intellectual Property

See Blast.club T&Cs – PSFP, section 10

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9. Term and Termination

See Blast.club T&Cs – PSFP, section 11

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10. Contract Integrity

See Blast.club T&Cs – PSFP, section 13

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11. Amendment of the Terms of Use

See Blast.club T&Cs – PSFP, section 14

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12. Evidence

See Blast.club T&Cs – PSFP, section 15

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13. Applicable Law

These Terms of Use are governed by French law. Given the global nature of the Internet, each Member is encouraged to comply with all applicable rules in their country of residence.

If the laws of a country prohibit Blast Club's activity under the conditions set forth in the Terms of Use, the Member undertakes not to use the Services offered by Blast Club.

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Referral Program Regulations

Preamble

These Regulations (the « Regulations ») govern the referral program implemented by BLAST, a simplified joint-stock company with its registered office at 231, rue Saint Honoré, 75001 Paris, whose unique identification number is 915 236 640 R.C.S. Paris, operating notably as a Crowdfunding Service Provider (CSP) approved by the French Financial Markets Authority (AMF) under number FP 2023-12 and as a payment service agent registered with the financial agents register (REGAFI) under number 730073 (« Blast »).

Blast has created a club bringing together members who use its various services (the « Blast Club ») and is the publisher of the website www.blast.club (the Site) on which categorized offers are made to Blast Club members.

This system aims to allow Blast Club members to recommend new candidates for membership in the Blast Club, subject to strict compliance with the conditions set out below.

1. Definition

Subject to the terms expressly defined below and in the preamble, capitalized terms and expressions used in these Regulations shall have the meaning ascribed to them in the general terms of use of the Blast Club.

« Membership » corresponds to the right of access to the Services that a Referral must acquire, notably involving its validation by the Blast Club selection committee and the payment of its access fees for the Services.

« Referral » refers to a natural person of legal age or a legal entity who has been invited by the Sponsor to become a member of the Blast Club.

« Sponsor » refers to a Blast Club member, holding a valid membership, who has invited one or more Referrals according to the terms and conditions described in these Regulations.

« Referral Bonus » means any referral bonus, the amounts of which are described in Article 5 below, which will be paid by Blast to the Sponsor under the terms of the Regulations, when any concerned Referral (i) has been validly approved by Blast's selection committee, (ii) has paid their access fees for the Services, and (iii) has not cancelled their membership during the withdrawal period stipulated by the Blast Club's general terms of use.

2. Purpose of the Program

The referral program aims to enable the qualitative growth of the Blast Club through the recommendations of its members.

This program must be used without recourse to mass advertising or external acquisition strategies. Consequently, Members commit to not engaging in any mass communication (particularly on social media, such as Instagram or LinkedIn, or on coupon code websites) and must only refer individuals they know personally.

Furthermore, Members are strictly prohibited from advertising any project proposed on the Blast Club platform. This includes communications that present the details – particularly economic and financial – of a project proposed by the Blast Club platform. Referrals are strictly for private and personal use.

3. Eligibility Conditions

A referral will be considered validated and thus counted once the conditions described below are met:

3.1 For the Sponsor

The Sponsor must:

• be a member of the Blast Club, holding a valid current membership at the time the Referral paid their access fees for the Services;

• have subscribed to at least one (1) Crowdfunding Offer proposed by Blast as a Crowdfunding Service Provider (CSP) approved by the AMF, or one (1) so-called 'OPTF' offer relating to securities proposed by companies controlled by Blast Club or its main associates (Blast Club acting strictly within the framework of Article L. 531-2 of the Monetary and Financial Code);

• commit to only proposing profiles that align with the Blast Club's values (commitment, mutual support, ambition, excellence), and whom they know personally; and

• not exceed the quota of three (3) Referrals per membership period.

3.2 For the Referral

The Referral must:

• be a legal adult individual or a legal entity;
• not be a former member of the Blast Club, nor currently in the process of joining; and
• follow the entire onboarding process (waitlist, selection, potential interview, application validation, payment of fees).

4. Implementation Details

1. The Sponsor provides the potential Referral(s), upon their request, with the dedicated registration link for the referral program, which is available in the Sponsor's personal area on the Website.

2. The Referred Member submits their application via the registration link received from the Referrer and referred to in point 1 above.

3. The Blast Club selection committee reviews the Referred Member's profile.

4. Upon validation by the Blast selection committee and payment of access fees for the Services by the Referred Member, the Referral Reward will be earned by the Referrer, provided that the Referred Member's membership is not cancelled within fourteen (14) calendar days from the payment of their membership (withdrawal period stipulated in the Blast Club's general terms of use).

Article 5. Referral Reward Schedule

The Referral Reward will be deposited into a dedicated wallet for each Referrer, usable under the conditions set out in Article 6 below.

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6. Conditions for Using Referral Rewards

Referral Rewards will be freely usable by the Referrer via their wallet, which can be used, among other things, to pay Blast Club membership renewal fees, investment fees, or purchases made on the shop available on the Site, to subscribe to a Crowdfunding Offer or an offer known as “OPTF”, or to acquire financial securities on the Blast Club bulletin board.

When using the wallet, the amount used will be transferred to the wallet of the selected profile, opened in the PSP Bank accounts in the Referrer's name. The Referrer may also contact Blast Club support (support-membre@blast.club) if they wish for their Referral Rewards to be credited to their wallet opened in the PSP Bank accounts for withdrawal.

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7. Taxation Applicable to the Referrer

The Referral Rewards paid to Referrers under this referral scheme constitute remuneration for a business introduction service provided to Blast.

These amounts are subject to current tax regulations.

Depending on the Referrer's status, the tax treatment applicable to the Referral Reward is as follows:

• For Referrers who are natural persons: the Referral Rewards received are subject to income tax in the category of non-commercial profits (BNC) in accordance with Article 92 of the General Tax Code.

• For Referrers who are legal entities: the Referral Rewards received are subject to corporate income tax under ordinary law. These Referral Rewards are paid for the Referrer's provision of a business introduction service to Blast, as defined by applicable VAT rules. If the Referrer is a VAT-registered person acting as such in providing this service, they must issue an invoice compliant with current regulations, specifying the VAT amount and the applicable VAT rate, if any.

Referrers are solely responsible for declaring and handling the tax implications of the Referral Rewards received under the scheme. Blast cannot be held responsible for any incorrect declaration or omission on the part of a Referrer.

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8. Limitations and Exclusions

Any referral conducted fraudulently, automatically, or promotionally (public campaign, sponsorship, mass mailing, online advertising, etc.) will result in immediate exclusion from the Club.

The referral program provided for by these Regulations shall not be interpreted as entrusting the Referrer with a mandate or representation of Blast vis-à-vis third parties, so that the Referrer shall act in their own name within the framework of the referral program and shall not have any power whatsoever to represent Blast vis-à-vis third parties.

Pursuant to Article L. 341-10-4° of the Monetary and Financial Code, the Referrer is not authorized to act as a canvasser within the meaning of Articles L. 341-1 et seq. of the Monetary and Financial Code.

Blast employees are not permitted to participate.

Blast reserves the right to suspend or cancel any referral that does not comply with the program's rules.

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9. Liability

Blast cannot be held responsible for the direct or indirect consequences of using the program, particularly in the event of a rejected application, errors in entered data, or delays in the payment of Referral Rewards due to administrative or technical reasons beyond its control.

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10. Personal Data

As part of the referral program, the personal data of the Referrer and the Referee are processed in accordance with the privacy policy accessible at the following address: www.blast.club/confidentialite

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11. Amendment of the Regulations

Blast reserves the right to modify, suspend, or terminate this referral program at any time, without prior notice, provided that Members are informed via its website or any other appropriate channel.

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12. Applicable Law and Jurisdiction

These Regulations are governed by French law. Any dispute relating to their interpretation or execution falls under the exclusive jurisdiction of the Paris courts.

For any questions regarding the referral program:

support-membre@blast.club

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Last updated on 11/09/2025

Blast Club offers its Members access to economic and financial information published on its Site concerning Startups that wish to raise funds and, in this context, want to offer investors the opportunity to participate in this fundraising by making an investment, generally as part of a capital increase, under the conditions and terms described below. All of this information can be found in the FICI available for each Crowdfunding Offer presented on the Site.