📕DISCLAIMER CLAUSE

UBT Disclaimer Clause

The UBT platform is planning and implementing enhanced services that can directly or indirectly impact people's lives. Therefore, we have prepared this whitepaper for reference purposes for those who are interested in and empathize with such social issues. The purpose of this whitepaper is to share the objectives and technical direction of the UBT platform at the time of writing, and it is not intended to encourage investment in the UBT team or platform. Information regarding the operational and financial status of the UBT Foundation (hereinafter referred to as "the company") may change, and this whitepaper or website may be subject to regular changes or deletions. The contents of this whitepaper are not binding on the company operating the UBT platform and may change according to ongoing research and development of the UBT platform. This whitepaper does not intend to provide investment advice, legal regulations, or financial and accounting advice regarding virtual assets. Furthermore, it does not contain any intention to solicit investments. The whitepaper contains forward-looking information about projects and future business prospects. Such statements may be identified by words such as "will," "expect," "anticipate," "plan," "estimate," and similar expressions and involve inherent risks and uncertainties. The actual performance and progress of the company or its affiliates may differ from the expectations set forth in the forward-looking statements. Users are solely responsible for any investment decisions made based on the information provided in this whitepaper.

UBT:

1. The whitepaper is based on legal rights and does not infringe on the rights of third parties.

2. The whitepaper has commercial value or usefulness.

3. The whitepaper is suitable for achieving specific objectives of investors.

4. The contents of the whitepaper are error-free.

5. UBT does not guarantee that the whitepaper has been legally prepared and distributed in all countries worldwide and that its content does not violate the laws of any country.

The scope of disclaimer also includes situations other than those mentioned above. The regulatory regime applicable to blockchain technology, virtual asset provision, and platform application is uncertain, and any changes to regulations or policies may significantly affect the development of the platform and the utility of virtual assets. Failure of virtual asset trading or platform users, companies, or affiliates to comply with laws, rules, and regulations (some of which may not yet exist or may be subject to interpretation and change) may result in various disadvantages for companies and affiliates, including civil penalties and fines. In addition, tax treatment of the acquisition or disposal of virtual assets and stable coins may vary depending on how virtual assets and stable coins are classified under the criteria of securities, assets, currency, or other classifications. Since the tax characterization of virtual assets is currently uncertain, customers may encounter tax-related issues regarding the purchase, acquisition, or disposal of assets (especially considering that income tax will be imposed on gains from the transfer of virtual assets from the second half of 2021 due to the 2020 tax law revision, and various reporting obligations will be imposed in the future). Customers may be subject to tax payments or reporting obligations. Business models using blockchain face uncertain regulatory environments in many countries. In the near future, various jurisdictions may adopt laws, regulations, or guidelines that affect the platform, which may change the value of virtual assets. Such regulations, laws, or guidelines may directly and negatively affect the operation of the platform and may prevent companies and affiliates from complying with them. The impact of future regulatory changes is unpredictable, but such changes can be substantial and can significantly affect the development and growth of the platform, the adoption and utility of virtual assets.

Companies and their affiliates may be required to obtain licenses, permits, and/or approvals (collectively referred to as "regulatory approvals") to conduct virtual asset creation, development, and operation businesses. If companies and their affiliates cannot obtain such permits or if the relevant authorities do not renew or revoke regulatory approvals for any reason, it may adversely affect the business of companies and affiliates. There is no guarantee that authorities will not impose stricter requirements on companies and their affiliates in the future or that companies and their affiliates will be able to adapt to changing regulatory requirements in a timely manner. Such stringent regulations may limit the operational capabilities of companies and their affiliates, and failure to comply with such requirements may result in inadequate measures being taken against companies and their affiliates. Furthermore, if the costs (financial or otherwise) to comply with newly implemented regulations exceed certain criteria, platform maintenance may no longer be commercially feasible, and companies and affiliates may discontinue platform operation and/or virtual asset trading. Moreover, it is impossible to predict how governments or regulatory agencies will implement laws and regulations affecting ledger distribution technology and related applications, including platforms. Companies and their affiliates may have to suspend operations in jurisdictions where obtaining regulatory approvals necessary for operating in that jurisdiction is commercially infeasible or undesirable. In the aforementioned circumstances, it is difficult to completely exclude the possibility that virtual assets will almost or completely lose value. Natural disasters, acts of nature, wars, terrorist attacks, riots, widespread epidemics, and other events beyond the control of companies and affiliates may pose risks. Sales of virtual assets and activities of companies, affiliates, and platforms may be suspended or delayed due to reasons beyond the control of companies and affiliates, such as natural disasters, wars, terrorist attacks, riots, civil unrest, widespread epidemics, and other reasons. These events may also cause uncertainty in the economic outlook of global markets, and there is no guarantee that markets will remain unaffected or that recovery from the global financial crisis will continue. In such cases, the business strategy, operating results, and outlook of companies and affiliates may be significantly affected, and demand and usage of virtual assets and platforms may be significantly affected. Furthermore, if an infectious disease or epidemic occurs in the country where companies, affiliates, and platform participants operate in the future, it may negatively affect market sentiment, which may have a negative impact on platforms and communities.

In addition to anticipated risks, there may be other risks associated with the purchase, holding, and use of virtual assets, including unforeseen fluctuations or risks discussed in this document. It implies that unforeseen fluctuations or risks may occur in a complex manner. No institution has officially reviewed or approved the information presented in this whitepaper, and no action has been taken in any jurisdiction to date. If a person reading this whitepaper uses it for his or her own decision-making and actions, the results thereof shall be solely attributable to that person's judgment, regardless of whether they result in profit or loss, and the company shall bear no responsibility for them. While the platform and related services provided by the company and its affiliates are provided in an available condition, the company and its affiliates do not guarantee accessibility, quality, suitability, or completeness of the platform or related services provided by the company. The officers of the company and its affiliates operating the UBT platform do not make any statements, warranties, or promises in any form regarding the truthfulness, accuracy, and completeness of all information presented in this whitepaper, including statements, warranties, or promises regarding the truthfulness, accuracy, and completeness of all information presented in this whitepaper. Within the maximum extent permitted by applicable law and regulations, companies and affiliates are not responsible for illegal acts, contracts, or other indirect, special, incidental, consequential, or other losses (loss of profits, loss of revenue, loss of use, or loss of data). Therefore, UBT does not bear any responsibility for compensation, indemnity, or other liability for damages, losses, liabilities, and other damages caused by using this whitepaper. Furthermore, in such cases, the Korean version of the whitepaper shall take precedence. The whitepaper may be updated in the future. Please check the official website for the latest updates on the whitepaper. This whitepaper may not be reproduced, used, or disclosed without the consent of the authors of this whitepaper and the UBT team.