# XS Terms & Conditions

> The terms that govern access to and use of the XS platform at xs.global.

xs.global

EFFECTIVE DATE · August 5, 2026

These Terms & Conditions (the "Terms") govern your access to and use of the XS platform located at https://xs.global, together with any related websites, applications, data products, content, and support services operated by XS ("we," "us," or "our"). We refer to all of these together as the "Services."

Please read these Terms carefully. They contain important information about your legal rights, including limitations on our liability and the permitted uses of the data and content we make available to you.

## 1. Acceptance of These Terms

By accessing or using any part of the Services, you agree to be bound by these Terms and by our US Privacy Policy and, where applicable, our GDPR Privacy Policy, each of which is incorporated into these Terms by reference. If you do not agree to these Terms, you may not access or use the Services.

You must be at least 18 years of age to use the Services. If you access or use the Services on behalf of a firm, fund, company, or other organization, you represent that you are authorized to accept these Terms on that organization's behalf, and references to "you" in these Terms include that organization.

We may modify these Terms from time to time. Revised Terms are effective when posted to xs.global, or, for material changes that affect a paid subscription, upon notice to you by email or through the Services. Your continued use of the Services after a revision takes effect constitutes your acceptance of the revised Terms.

## 2. About the Services

XS is a subscription software system for independent sponsors and other investment firms. Depending on your plan, the Services may include:

- XS Origination: market mapping, scoring of opportunities against criteria you configure, and the preparation of deal materials for your review;
- XS Portfolio: live portfolio data, transaction-level reporting, initiative tracking, and attribution of results across the companies you own;
- XS Reporting: reporting and analytics derived from the foregoing; and
- Operating professionals: access to operating professionals engaged by XS to work with you on value creation initiatives, where included in your plan or order form.

Certain features require a paid subscription, and the features available to you may vary by plan. We may add, modify, or discontinue features of the Services from time to time.

## 3. Informational Purposes Only; No Investment, Legal, or Professional Advice

The Services and all content, data, research, reports, scores, analytics, and other materials made available through them (collectively, "XS Content") are provided solely for informational purposes. Nothing in the Services constitutes, or should be construed as, an offer to sell or a solicitation of an offer to buy any security or interest in any fund, company, or transaction; investment, legal, tax, accounting, or other professional advice; or a recommendation or endorsement of any company, investor, service provider, industry, transaction, or strategy.

XS is not a registered investment adviser, broker-dealer, or placement agent. XS does not arrange, negotiate, structure, or participate in transactions between users of the Services or with third parties, does not advance any transaction or move any funds on your behalf, and receives no transaction-based compensation for any relationship or transaction that may result from use of the Services. Inclusion of any company, firm, or individual in XS Content is not a verification of that party's qualifications, track record, or suitability, and is not an endorsement by XS.

You are solely responsible for conducting your own due diligence and for any decision you make in reliance on XS Content, including decisions to pursue, finance, invest in, or engage with any party or opportunity. You should consult your own legal, tax, financial, and other advisers before making any such decision.

### 3.1 Data Accuracy

XS Content is compiled from publicly available sources, third-party data providers, information you and your authorized users provide, and XS's own research and analysis. Although we use reasonable efforts to verify information, we do not warrant that XS Content is accurate, complete, current, or free of errors. Scores, rankings, and analyses reflect the methodology, criteria, and information available at the time they are generated. Past performance described in XS Content is not indicative of future results.

## 4. Accounts and Registration

The Services require you to create an account. You agree to provide accurate, current, and complete registration information and to keep it updated. You are responsible for maintaining the confidentiality of your login credentials and for all activity that occurs under your account. Unless your plan expressly permits multiple users, accounts and login credentials are personal to you and may not be shared with, or used by, any other person. You agree to notify us immediately at privacy@xs.global of any unauthorized use of your account or any other breach of security.

We may refuse registration, or suspend or disable any account, at our discretion, including if we believe an account has been shared, compromised, or used in violation of these Terms.

## 5. Subscriptions and Payment

### 5.1 Plans and Fees

XS plans and any other paid offerings, together with their associated fees, are described at the point of purchase or in an applicable order form. All fees are stated in U.S. dollars and are exclusive of applicable taxes unless otherwise stated. You are responsible for any sales, use, value-added, or similar taxes.

### 5.2 Billing and Automatic Renewal

Unless otherwise stated at the point of purchase or in an order form, subscriptions renew automatically at the end of each subscription term for successive terms of the same length, at the then-current fee, unless you cancel before the renewal date. By providing a payment method, you authorize us and our payment processor to charge that payment method for all fees due, including renewal fees. We will provide at least 30 days' notice of any change to recurring fees before the change takes effect.

### 5.3 Cancellation and Refunds

You may cancel a subscription at any time through your account settings or by contacting us at privacy@xs.global. Cancellation takes effect at the end of the current subscription term, and you will retain access until that date. Except where required by applicable law or expressly stated otherwise at the point of purchase or in an order form, all fees are non-refundable, including fees for partial subscription terms.

### 5.4 Free Trials and Promotions

We may offer free trials, promotional pricing, or complimentary access at our discretion. Any such offer is subject to the terms stated with the offer and may be modified or withdrawn at any time. Unless otherwise stated, a free trial converts to a paid subscription at the end of the trial period if you do not cancel.

### 5.5 Changes to Features

We may change the features included in a plan from time to time. If we materially reduce the features included in a paid plan during your current term, we will notify you and you may cancel for a pro-rated refund of prepaid fees for the remainder of that term.

## 6. Permitted Use of the Services and XS Content

### 6.1 License

Subject to your compliance with these Terms and payment of any applicable fees, XS grants you a limited, non-exclusive, non-transferable, non-sublicensable, revocable license to access and use the Services and XS Content for your own internal business purposes during the subscription term, for the number of authorized users specified in your plan.

### 6.2 Restrictions

Except as expressly permitted in these Terms or in a written agreement signed by XS, you agree that you will not, and will not permit any third party to:

- copy, scrape, crawl, harvest, index, or bulk-download XS Content, whether manually or by means of bots, scripts, or other automated tools;
- sell, resell, license, sublicense, rent, lease, distribute, publish, or otherwise make XS Content available to any third party or to the public, including by incorporating XS Content into any database, directory, list, product, or service;
- use contact information obtained through the Services to send unsolicited bulk communications, or to make any communication that violates applicable law, including the CAN-SPAM Act, the Telephone Consumer Protection Act, the General Data Protection Regulation, or similar laws;
- use the Services or XS Content to develop, train, or improve a product or service that competes with the Services, or to train, fine-tune, or evaluate any artificial intelligence or machine learning model without XS's prior written consent;
- reverse engineer, decompile, disassemble, or otherwise attempt to derive the source code, structure, models, or underlying data of the Services;
- circumvent, disable, or interfere with any access control, rate limit, security feature, or usage restriction of the Services;
- share login credentials or otherwise allow access to the Services by persons who are not authorized users;
- misrepresent your identity, firm, role, or affiliation, or impersonate any person or entity;
- upload or transmit viruses, malicious code, or any material that is unlawful, defamatory, infringing, or otherwise objectionable;
- use the Services in any manner that is unlawful, fraudulent, harassing, or discriminatory, or that interferes with the use of the Services by others; or
- remove, obscure, or alter any copyright, trademark, confidentiality, or other proprietary notice on XS Content.

### 6.3 Reasonable Use

We may impose reasonable limits on the number of records you may view, search, or export within a given period. Usage that we reasonably determine to be excessive, or that suggests the systematic extraction of XS Content, may result in suspension or termination of your access.

## 7. Customer Data

Information, records, documents, and other data that you or your authorized users enter into or upload to the Services, including pipeline information, deal notes, contacts, portfolio company data, and documents ("Customer Data"), remain your property. XS will use Customer Data only to provide, maintain, secure, support, and improve the Services, as described in our Privacy Policies and any Data Processing Addendum between you and XS, and as otherwise directed by you. XS may use aggregated and de-identified data derived from your use of the Services for analytics, benchmarking, research, and product improvement, provided that such data does not identify you, your organization, your portfolio companies, or any individual.

You are responsible for Customer Data, including its accuracy, its lawfulness, any personal information of third parties it contains, and your compliance with any confidentiality or contractual obligations that apply to it. You represent that you have obtained all rights and consents necessary to upload Customer Data to the Services and to permit XS to process it as described in these Terms.

By submitting Customer Data, you grant XS a non-exclusive, worldwide, royalty-free license to host, store, reproduce, process, and display Customer Data as necessary to provide the Services to you and your authorized users. We may, but are not obligated to, review or remove Customer Data that we reasonably believe violates these Terms or applicable law.

## 8. Operating Professionals

Where your plan or order form includes access to operating professionals, XS will make such professionals available to work with you on value creation initiatives as described in the applicable order form. Operating professionals act on the information you provide and on XS Content, and their input is subject to Section 3 of these Terms. Decisions regarding any initiative, transaction, or portfolio company remain yours. Unless expressly stated in a signed agreement, XS does not guarantee any particular outcome, result, or improvement in financial performance from the involvement of operating professionals.

## 9. Communications

By registering for the Services, you agree to receive product updates, service announcements, and communications about the Services from XS by email and, where you have provided a mobile number and consented, by text message. You may opt out of marketing communications at any time by using the unsubscribe link in any email or by contacting us at privacy@xs.global. We may continue to send you transactional and account-related communications, such as billing notices and service announcements, as long as you maintain an account.

## 10. Availability, Support, and Integrations

### 10.1 Availability and Support

XS will use commercially reasonable efforts to make the Services available and to provide support during normal business hours, subject to scheduled maintenance, emergency maintenance, and circumstances beyond XS's reasonable control. Unless a service level agreement is included in a signed agreement between you and XS, XS does not guarantee any particular level of availability.

### 10.2 Intelligence, Scoring, and Recommendations

The Services may generate deal intelligence, scores, rankings, alerts, draft materials, and recommendations. These outputs are tools to support your own analysis and are subject to Section 3 of these Terms. They are not advice, are not guaranteed to be accurate or complete, and should be independently verified before you rely on them. The Services draft and surface information; they do not advance any transaction or move any funds.

### 10.3 Third-Party Integrations

The Services may integrate with third-party products and services, including the systems of your portfolio companies. Your use of any third-party product or service is governed by the terms of that third party, and XS is not responsible for the availability, accuracy, or conduct of any third-party product or service. You are responsible for obtaining any authorizations required to connect third-party systems to the Services.

### 10.4 Termination and Data Export

Upon expiration or termination of your subscription, your access to the Services will end. For a period of 30 days following termination, you may request an export of your Customer Data in a commonly used format. After that period, XS may delete Customer Data in accordance with its retention practices, except as required by law or as needed to resolve disputes.

### 10.5 Order of Precedence

If you and XS have entered into a signed order form, master subscription agreement, or Data Processing Addendum, the terms of that signed agreement control over these Terms in the event of any conflict.

## 11. Intellectual Property

The Services and all XS Content, including all text, data, databases, compilations, models, research, reports, graphics, logos, software, and the selection, arrangement, and presentation of the foregoing, are owned by XS or its licensors and are protected by copyright, trademark, database, trade secret, and other intellectual property laws. The name and mark XS, the names XS Origination, XS Portfolio, and XS Reporting, and the associated logos, are trademarks of XS. No right, title, or interest in the Services or XS Content is transferred to you, and no license is granted to you except as expressly set forth in these Terms. Any use of XS's marks without XS's prior written permission is prohibited.

If you provide XS with suggestions, ideas, or other feedback about the Services, you grant XS an unrestricted, perpetual, irrevocable, royalty-free right to use that feedback for any purpose without obligation to you.

## 12. Third-Party Links and Content

The Services may contain links to third-party websites and content or data supplied by third parties. Links and third-party content are provided for your convenience only and do not constitute an endorsement by XS. XS does not control and is not responsible for the content, accuracy, availability, or privacy practices of any third-party website or resource.

## 13. Confidentiality

Research, reports, methodologies, and other materials that XS makes available only to subscribers, or that are marked confidential, are confidential to XS. You may use such materials only for your internal business purposes and may not disclose, publish, or distribute them, in whole or in part, to any third party, except to your employees, officers, and professional advisers who need to know them and who are bound by confidentiality obligations at least as protective as these Terms.

XS will treat Customer Data as your confidential information and will not disclose it to third parties except as described in these Terms, our Privacy Policies, or any Data Processing Addendum between you and XS, or as required by law.

## 14. Interactions with Third Parties

The Services may help you identify, evaluate, and contact companies, investors, service providers, and other third parties. XS is not a party to, and has no responsibility for, any communication, relationship, agreement, or transaction between you and any third party, including any capital commitment, engagement of a service provider, or acquisition. Any such dealings are solely between you and the other party. You are responsible for exercising appropriate judgment and diligence in your dealings with third parties.

## 15. Disclaimer of Warranties

THE SERVICES AND XS CONTENT ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS, WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY. TO THE FULLEST EXTENT PERMITTED BY LAW, XS DISCLAIMS ALL WARRANTIES, INCLUDING IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT, AND ANY WARRANTY THAT THE SERVICES OR XS CONTENT WILL BE ACCURATE, COMPLETE, CURRENT, RELIABLE, UNINTERRUPTED, SECURE, OR ERROR-FREE. XS DOES NOT WARRANT THAT USE OF THE SERVICES WILL RESULT IN ANY INTRODUCTION, RELATIONSHIP, INVESTMENT, ENGAGEMENT, TRANSACTION, OR IMPROVEMENT IN FINANCIAL PERFORMANCE.

## 16. Limitation of Liability

TO THE FULLEST EXTENT PERMITTED BY LAW, IN NO EVENT WILL XS OR ITS AFFILIATES, OR ANY OF THEIR RESPECTIVE MEMBERS, MANAGERS, OFFICERS, EMPLOYEES, CONTRACTORS, AGENTS, OPERATING PROFESSIONALS, OR LICENSORS, BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES, OR FOR ANY LOSS OF PROFITS, REVENUE, BUSINESS, OPPORTUNITIES, TRANSACTIONS, DATA, OR GOODWILL, ARISING OUT OF OR RELATING TO THE SERVICES, XS CONTENT, OR THESE TERMS, WHETHER BASED ON CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, OR ANY OTHER THEORY, EVEN IF XS HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

TO THE FULLEST EXTENT PERMITTED BY LAW, THE TOTAL AGGREGATE LIABILITY OF XS AND ITS AFFILIATES ARISING OUT OF OR RELATING TO THE SERVICES, XS CONTENT, OR THESE TERMS WILL NOT EXCEED THE GREATER OF (A) THE AMOUNTS YOU PAID TO XS FOR THE SERVICES IN THE TWELVE (12) MONTHS IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM AND (B) ONE HUNDRED U.S. DOLLARS ($100).

Some jurisdictions do not allow the exclusion or limitation of certain warranties or damages, so some of the exclusions and limitations in Sections 15 and 16 may not apply to you.

## 17. Indemnification

You agree to defend, indemnify, and hold harmless XS and its affiliates, and their respective members, managers, officers, employees, contractors, agents, operating professionals, and licensors, from and against any claims, liabilities, damages, losses, and expenses, including reasonable attorneys' fees, arising out of or relating to your Customer Data; your use of the Services or XS Content; your violation of these Terms or of any applicable law; your dealings with third parties; or your infringement of the rights of any third party.

## 18. Suspension and Termination

XS may suspend or terminate your access to all or part of the Services at any time, with or without notice, if we believe you have violated these Terms, if required by law, or to protect the Services or other users. You may terminate your account at any time by contacting us at privacy@xs.global, subject to Section 5.3. Upon termination, your right to use the Services ends immediately, and you must cease using and destroy any XS Content in your possession, except as expressly permitted by a written agreement with XS. Sections 3, 6.2, 7, 11, 13 through 17, 20, and 21, and any other provisions that by their nature should survive, will survive termination.

## 19. Privacy

Our collection, use, and sharing of personal information in connection with the Services is described in our US Privacy Policy and, for individuals in the European Economic Area, the United Kingdom, and Switzerland, our GDPR Privacy Policy. By using the Services, you acknowledge that you have read those policies.

## 20. Governing Law and Dispute Resolution

These Terms and any dispute arising out of or relating to the Services are governed by the laws of the State of Delaware, without regard to its conflict of laws principles. You agree that any legal action or proceeding arising out of or relating to these Terms or the Services will be brought exclusively in the state or federal courts located in New Castle County, Delaware, and you consent to the personal jurisdiction of those courts. Notwithstanding the foregoing, XS may seek injunctive or other equitable relief in any court of competent jurisdiction to protect its intellectual property or confidential information.

Any claim or cause of action arising out of or relating to the Services or these Terms must be filed within one (1) year after the claim or cause of action arose, or it will be permanently barred.

## 21. General Provisions

- **Entire Agreement.** These Terms, together with the Privacy Policies and any order form or signed agreement between you and XS, constitute the entire agreement between you and XS regarding the Services and supersede all prior agreements and understandings.
- **Severability.** If any provision of these Terms is held to be invalid or unenforceable, that provision will be enforced to the maximum extent permissible and the remaining provisions will remain in full force and effect.
- **No Waiver.** XS's failure to enforce any provision of these Terms is not a waiver of that provision or of XS's right to enforce it in the future.
- **Assignment.** You may not assign or transfer these Terms or any rights under them without XS's prior written consent. XS may assign these Terms without restriction, including in connection with a merger, acquisition, or sale of assets.
- **Force Majeure.** XS is not liable for any failure or delay in performance caused by circumstances beyond its reasonable control.
- **Export and Sanctions.** You represent that you are not located in, and are not a national or resident of, any country subject to comprehensive U.S. sanctions, and that you are not on any U.S. government list of prohibited or restricted parties.
- **Electronic Communications.** You consent to receive communications from XS electronically, and you agree that electronic communications satisfy any legal requirement that communications be in writing.
- **Notices.** Notices to XS must be sent to the contact information in Section 22. Notices to you may be sent to the email address associated with your account.
- **Headings.** Section headings are for convenience only and do not affect the interpretation of these Terms.

## 22. Contact Us

If you have questions about these Terms, please contact us at:

XS\
46164 Westlake Dr, PO Box 650061, Sterling, VA 20165\
Email: privacy@xs.global