GOLD SAVINGS PLAN™ RISK DISCLOSURE

GOLD SAVINGS PLAN™

RISK DISCLOSURE

Effective Date: September 3, 2026

IMPORTANT NOTICE

PRECIOUS METALS INVOLVE RISK. THE VALUE OF GOLD AND SILVER CAN RISE OR FALL, AND YOU MAY RECEIVE LESS UPON LIQUIDATION THAN THE AMOUNT YOU CONTRIBUTED OR PAID. 

The Gold Savings Plan™ is designed to facilitate the systematic acquisition and accumulation of physical precious metals. It is not a bank account, savings deposit, investment account, securities account, or guaranteed-return product. You should carefully review this Risk Disclosure together with the Gold Savings Plan™ Customer Account Agreement, Terms & Conditions before enrolling.

1. PRECIOUS-METAL PRICE RISK

Gold and silver prices fluctuate continuously and may be affected by numerous factors, including economic conditions, inflation, interest rates, currency movements, monetary policy, geopolitical events, supply and demand, market sentiment, central-bank activity, and other circumstances. Precious metals may decline substantially in value. There is no guarantee that the market price of gold or silver will increase during any particular period.

2. LOSS OF PRINCIPAL

A Customer may receive less upon liquidation than the amount originally contributed or paid. The existence of physical precious-metal holdings does not eliminate market risk. A decline in the applicable liquidation price can result in a loss.

3. PURCHASE SPREAD AND TRANSACTION COSTS

GSP currently applies a 15% purchase spread as described in the Customer Account Agreement. Because the purchase price and liquidation price are not necessarily the same, the market price of a precious metal may need to increase before a Customer's holdings equal or exceed the Customer's total contributions on a comparable-value basis. Other applicable costs may also affect the amount ultimately received by a Customer.

4. BID/ASK RISK

The price used to acquire precious metals may differ from the price applicable to liquidation. Purchases are made at the applicable purchase price, while liquidation is generally based upon the applicable Bid price at the time of liquidation. Physical delivery may involve acquisition at the applicable Ask price and additional costs. Accordingly, a published spot price should not be assumed to equal the amount a Customer will pay to purchase or receive upon liquidation.

5. POOLED HOLDINGS

GSP generally maintains Customer precious-metal holdings as a beneficial interest in pooled physical metals rather than individually segregated bars or rounds unless a separate written agreement provides otherwise. Accordingly, a Customer's account records represent the Customer's beneficial interest or entitlement in the applicable pooled precious-metal holdings and do not necessarily identify a specific bar, round, or other individual piece of metal.

6. STORAGE AND CUSTODY

Physical metals are generally stored with IDS of Texas or another affiliated or approved depository facility as provided in the Customer Account Agreement. Storage arrangements do not eliminate market risk or other risks associated with physical precious metals.

7. DELIVERY AND CONVERSION RISK

A Customer requesting physical delivery may be required to convert pooled holdings into available physical products, including available 1-gram gold bars or 1/10 oz silver rounds. Delivery may involve conversion costs, applicable pricing, shipping, insurance, taxes, and other charges. The physical products available for delivery may differ from the Customer's pooled holdings in form, size, or product configuration.

8. TAX RISK

Tax treatment of precious-metal purchases, ownership, liquidation, transfers, and physical delivery may vary based upon the Customer's circumstances and applicable federal, state, local, or foreign law. Tax laws, rates, exemptions, thresholds, reporting requirements, and interpretations may change. GSP does not provide tax advice. Customers should consult their own qualified tax adviser regarding their individual circumstances.

9. LIQUIDITY RISK

Although GSP provides procedures for liquidation, a Customer should not assume that liquidation will occur at the price shown on a public market quotation or calculator. Actual liquidation proceeds depend upon applicable Bid pricing, the quantity of metal held, transaction timing, fees, charges, taxes, market conditions, and the applicable Customer Account Agreement.

10. HISTORICAL PERFORMANCE IS NOT FUTURE PERFORMANCE

Historical charts, illustrations, and calculator results may show periods in which gold or silver increased substantially. Such historical results are hypothetical illustrations and do not represent actual GSP customer performance. Past performance does not guarantee, predict, or establish future results. A historical increase should not be interpreted as evidence that a similar increase will occur in the future.

11. FUTURE HYPOTHETICAL SCENARIOS

GSP may provide a calculator that permits Users to select contribution amounts, time periods, and annual growth assumptions. Future calculator results are hypothetical mathematical scenarios only. Any annual growth assumption is not a forecast, prediction, expected return, target, promise, or guarantee. For example, the calculator may permit different annual assumptions or a user-selected range of assumptions. The availability of any particular assumption does not mean that GSP believes that gold or silver will actually appreciate at that rate. Actual future precious-metal prices may be substantially higher or lower than the selected assumption.

12. CONTRIBUTION ASSUMPTIONS

A future scenario may assume that a selected monthly contribution continues throughout the modeled period. Actual Customers may increase, decrease, interrupt, suspend, or terminate contributions. Actual purchase prices may also differ from the prices assumed by the calculator. Consequently, actual accumulated ounces and actual account values may differ materially from any calculator illustration.

13. CALCULATOR VALUES ARE NOT LIQUIDATION PROCEEDS

A calculator may display a hypothetical future value by multiplying a hypothetical quantity of precious metal by a hypothetical future price. Such value is not necessarily the amount the Customer would receive upon liquidation. Actual liquidation is governed by the applicable GSP terms and the applicable Bid price at the time of liquidation, together with applicable fees, costs, taxes, and other factors. 

14. NO GUARANTEED RATE OF RETURN

GSP does not guarantee or represent that gold, silver, or any other precious metal will appreciate at any particular annual rate. No percentage displayed by a calculator should be interpreted as an expected rate of return. No customer should rely upon an assumed annual percentage as an expectation of future performance. 

15. NO BANK DEPOSIT OR FDIC INSURANCE

GSP is not a bank and the GSP Account is not a bank deposit account. Customer contributions are not represented as savings deposits, checking deposits, certificates of deposit, or other bank deposits. The GSP Account is a transaction and precious-metal ownership record and is not an interest-bearing bank account. GSP does not promise or pay interest, dividends, or a guaranteed yield on Customer contributions or precious-metal holdings. Any bank or payment processor used to process or settle a GSP transaction does not, by itself, create a bank deposit relationship between Customer and GSP.

16. REGULATORY CHARACTERIZATION

GSP's business model is intended to involve bona fide purchases and sales of physical precious metals and the related processing and settlement of those transactions. Applicable regulatory characterization may depend upon the actual facts, circumstances, products, payment flows, services, jurisdictions, and manner in which the business is operated. Nothing in this Risk Disclosure is intended to represent that GSP is exempt from any federal, state, or local licensing or regulatory requirement. GSP may modify its operations, payment methods, products, or procedures as necessary to comply with applicable law. 

17. JURISDICTIONAL DIFFERENCES

Laws concerning precious-metal transactions, consumer protection, taxation, electronic contracting, money transmission, payments, advertising, unfair or deceptive practices, privacy, and related matters may vary among jurisdictions. Certain products, services, payment methods, promotional programs, or enrollment options may therefore be unavailable or subject to different terms in particular jurisdictions. Where applicable, GSP may restrict or decline transactions based upon jurisdictional requirements.

18. NO INVESTMENT ADVICE

Nothing on the Gold Savings Plan™ website, calculator, Platform, promotional material, presentation, account statement, or other GSP communication constitutes investment, financial, legal, or tax advice. No representation is made that purchasing precious metals is suitable for any particular Customer. Customers should independently evaluate their circumstances and seek qualified professional advice where appropriate.

19. NO GUARANTEE OF FUTURE VALUE

GSP makes no representation or guarantee concerning:

• future gold or silver prices;
• future appreciation;
• future account values;
• future purchasing power;
• future liquidation proceeds;
• future market conditions;
• future liquidity;
• any particular annual growth rate; or
• the likelihood of achieving any particular financial result.

20. CUSTOMER RESPONSIBILITY

Each Customer is responsible for understanding the risks associated with purchasing, owning, storing, delivering, and liquidating precious metals. By enrolling in the Gold Savings Plan™, Customer acknowledges that precious-metal prices may rise or fall and that loss is possible. Customer further acknowledges that no historical illustration or future hypothetical calculator scenario is a guarantee or prediction of actual future results.