Dual Investment Product Service Terms

Last updated: 21 May 2026

1. Overview

1.1 The Dual Investment Product ("Dual Investment Product Service", "Service" or "Services") is a non-principal guaranteed structured investment product ("Product") provided and operated by the OKX entity applicable to you under the OKX Terms of Service ("OKX", "Company", "we", "our" or "us" or "Platform"), the full content of which is incorporated by reference herein.

1.2 These Dual Investment Product Service Terms (these "Terms") govern your use of the Dual Investment Product Service and any related services entered into by and between you (the "User" or "you") and OKX, and are legally binding upon you and OKX. These Terms are supplemental to, and should be read together with, the Structured Products Subscription Service Terms (the "Master Terms") as published by OKX from time to time, which govern the general framework for structured product subscriptions, including order mechanics, calculation agent framework, reference price fallback, events of default, and early termination. In the event of any conflict between these Terms and the Master Terms, these Terms shall prevail to the extent of the conflict insofar as it relates to the Dual Investment Product Service specifically.

1.3 By accessing the Services and subscribing to any Dual Investment Product, you confirm you have read, understood, and accepted these Terms, the Master Terms, the OKX Terms of Service, Risk & Compliance Disclosure, and all other applicable User Agreements (as defined in the Master Terms), and that you agree to be legally bound by all terms and conditions thereof.

1.4 The Terms and any applicable User Agreements constitute the entire agreement and understanding regarding the use of any or all of the Services, and any manner of accessing them, between you and OKX, depending on your location, nationality, services used, and your level of KYC completed.

2. Eligibility to Use the Service

2.1 You understand and acknowledge that:

(1) You have agreed to abide by the OKX Terms of Service, and the Master Terms, and you are eligible and are not prohibited from using the Services defined therein;

(2) If you are registering for the Service in your personal capacity, you must be at least 18 years old, with full civil rights and civil capacity, and have all necessary authorities and abilities to accept and execute these Terms;

(3) If you are registering on behalf of a legal entity, you declare and guarantee that (i) such legal entity is legally established and valid under applicable laws and regulations; and (ii) you are duly authorised by the legal entity and have the right to act on its behalf;

(4) You have the requisite experience, knowledge and risk tolerance to invest in non-principal guaranteed structured Digital Asset products involving derivatives, including products with barrier features and physical settlement;

(5) You shall carefully consider and use clear judgment to evaluate your financial condition and the risks described herein before making any subscription decisions, and shall bear all losses arising therefrom;

(6) These Terms do not conflict with the laws of your country or region, and you agree to comply with all applicable laws;

(7) You are the legal owner of the Digital Assets in your OKX Account and guarantee that the sources of those Digital Assets are legal; and

(8) Access to the Service and each Product may be subject to OKX's internal approval or restrictions and may be denied or revoked at any time without prior notice at OKX's sole discretion. Different account types and applicable jurisdictions may affect access.

2.2 You agree and undertake that you shall not use the Service for any illegal purposes, including but not limited to money laundering, fraud, terrorist financing, or any other activity prohibited by law.

3. Definitions

The following terms used in these Terms shall have the following meanings. Capitalised terms not defined herein shall have the meanings given to them in the Master Terms.

• "APR Rate" means the fixed annualised percentage yield rate payable in respect of a Dual Investment Product, as specified in the Order Terms.

• "Direction" means the directional parameter of the Dual Investment Product, being either "Buy Low" or "Sell High", as specified in the Order Terms.

• "Expiration Date" means the date on which the Dual Investment Product matures, as specified in the Order Terms.

• "Expiration Time" means 16:00 (UTC+8) on the Expiration Date, unless otherwise specified in the Order Terms.

• "Initial Reference Price" means the index price at the subscription time, as determined by OKX.

• "Interest Accrual Time" means the date and time at which yield begins to accrue in respect of a Dual Investment Product, as specified in the Order Terms. Unless otherwise specified, interest accrues from the nearest clock-hour after the Product is successfully subscribed.

• "Investment Amount" means the principal amount of the Investment Currency subscribed by the User, as specified in the Order Terms.

• ”Investment Currency" means the currency in which the User invests, as specified in the Order Terms.

• "Order" means each subscription order for a Dual Investment Product executed by the User, governed by these Terms, the Master Terms, and the Order Terms.

• "Order Terms" means the product-specific terms for each Dual Investment Product subscription communicated to the User by OKX, which shall specify at minimum the items listed in Clause 4.2 below. The Order Terms may take the form of a written term sheet, an in-app order confirmation, or such other form as OKX may make available from time to time.

• "Price at Expiry" means the averaged index price of the Underlying Currency Pair between 15:30 (UTC+8) and 16:00 (UTC+8) on the Expiration Date, as determined by OKX as Calculation Agent. The Price at Expiry is used to determine the Settlement Currency and the Settlement Amount. In the event that the Price at Expiry cannot be determined from the Primary Source, the Reference Price fallback provisions in the Master Terms shall apply.

• "Settlement Amount" means the total amount payable to the User at the Expiration Date, calculated in accordance with Clause 4.5, comprising the Investment Amount and the Total Yield, expressed in the Settlement Currency.

• "Settlement Currency" means the currency in which the Settlement Amount is paid, which is determined by the comparison of the Price at Expiry with the Target Price in accordance with Clause 4.4.

• "Target Price" means the benchmark price that is used to compare the Price at Expiry when the Product matures to determine the final Settlement Currency.

• "Term" means the period from (and including) the subscription date (and including) the Expiration Date, as specified in the Order Terms.

• "Term Rate" means the absolute (non-annualised) yield rate applicable to the Dual Investment Product over the Term, calculated as: Term Rate = APR Rate ÷ 100 ÷ 365 × Term. The Term Rate is used to calculate the Total Yield.

• "Total Yield" means the total yield amount payable to the User at the Expiration Date, calculated as: Total Yield = Investment Amount × Term Rate. The Total Yield is always paid in the Settlement Currency.

• "Underlying Currency Pair" means the currency pair by reference to which the Dual Investment Product is structured, as specified in the Order Terms.

4. Dual Investment Product Service

4.1 Description of the Dual Investment Product

The Dual Investment Product is a non-principal-guaranteed structured product that offers a fixed rate of yield on an Investment Amount over a defined term, in exchange for the User accepting the risk that settlement may be made in the Target Currency at an unfavorable Target Price if the index price of the Underlying Currency Pair falls above or below the Target Price (as the case may be) at the Expiration Time.

The Dual Investment Product can be on a buy-low or sell-high basis, as further described below:

1. Buy Low. If the Price at Expiry is at or below the Target Price, the Settlement Currency shall be the Target Currency. The User's Investment Amount and the Total Yield is converted into the Target Currency at the Target Price, meaning that the User converts their Investment Amount at higher-than-market prices. If the Price at Expiry is above the Target Price, the Settlement Currency remains as the Investment Currency and the User retains the Investment Amount and Total Yield in the Investment Currency without conversion.

2. Sell High. If the Price at Expiry is at or above the Target Price, the Settlement Currency shall be the Target Currency. The User's Investment Amount and the Total Yield is converted into the Target Currency at the Target Price meaning that the User converts their Investment Amount at lower-than-market prices. If the Price at Expiry is below the Target Price, the Settlement Currency remains as the Investment Currency and the User retains the Investment Amount and Total Yield in the Investment Currency.

The product is not principal-guaranteed: if the Settlement Currency is the Target Currency, the market value of the Settlement Amount at the time of receipt may be materially less than the market value of the Investment Amount at the time of subscription.

4.2 Order Terms

For each Dual Investment Product subscription, the Order Terms shall specify:

(a) the Direction (Buy Low or Sell High);

(b) the Underlying Currency Pair;

(c) the Investment Currency and Investment Amount;

(d) the Target Currency and Target Price;

(e) the APR Rate; and

(f) the Expiration Date; and

(g) any other terms as OKX deems necessary or appropriate.

The Order Terms may be communicated to the User by way of a written term sheet, an in-app display, or such other form as OKX may make available from time to time. The Order Terms shall, together with these Terms and the Master Terms, constitute the full terms of each Order.

Users acknowledge that the APR Rate set out in any indicative term sheet is indicative only and subject to market conditions at the time of Order acceptance. OKX will use commercially reasonable efforts to confirm or update the APR Rate at or before execution of the Order.

4.3 Interest Accrual Start Date and Subscription Process

4.3(a) The interest accrual period commences on the Interest Accrual Start Date (not the Subscription Date), as specified in the Order Terms. Accordingly, if the User subscribes before the Interest Accrual Start Date, no yield accrues on the Product during the period between the Subscription Date and the Interest Accrual Start Date.

4.3(b) For Subscriptions initiated through the OKX Platform, the User's electronic submission and confirmation of a subscription request through the Platform interface shall constitute an offer to subscribe. OKX's electronic confirmation of the Order, as displayed in the User's account, shall constitute acceptance and the Order shall become legally binding at that point.

4.3(c) For Subscriptions initiated otherwise than through the OKX Platform, the subscription process set out in Clause 4.3 of the Master Terms shall apply.

4.3(d) Order Cancellation for Manifest Error. If OKX determines that there is a manifest error in the Purchase Order placed by the User (including a clearly erroneous Target Price, APR Rate, or Term), OKX shall have the right to cancel the Purchase Order. If OKX cancels the Purchase Order, OKX will promptly notify the User of the cancellation. If the Investment Amount has already been deducted from the User's account, OKX will promptly refund the Investment Amount in the Investment Currency to the User's OKX account. No Total Yield shall be payable in respect of a cancelled Order.

4.4 Settlement at Expiry — Payoff Scenarios

On the Expiration Date, OKX shall determine the Price at Expiry and calculate the Settlement Amount in accordance with Clause 4.5. The settlement scenarios are as follows:

Buy Low Product

Sell High Product

The Total Yield is payable in the Settlement Currency in all scenarios. The Settlement Amount shall be credited to the User's OKX funding account on the Expiration Date.

4.5 Early Unwind at User's Request

(a) The User may request an early unwind of a Product prior to the Expiration Date by submitting a written request to OKX through the communication channel specified in the Order Terms or otherwise agreed with OKX. OKX has sole and absolute discretion as to whether to accept any such request.

(b) If OKX agrees to an early unwind, the settlement amount payable to the User shall be determined by OKX as Calculation Agent based on the mark-to-market value of the Product at the time of unwind, which may be materially less than the Investment Amount. The mark-to-market value shall reflect, among other factors, the remaining time to expiry, the prevailing price of the Underlying Currency Pair, implied volatility, and applicable unwind costs.

(c) OKX shall provide the User with an indicative unwind price prior to execution. The User must confirm acceptance in writing before OKX proceeds. Once confirmed, the unwind is irrevocable.

(d) OKX is under no obligation to agree to an early unwind. The User has no right to demand early redemption.

4.6 Disruption Events

If the Price at Expiry cannot be determined from the primary source on the Expiration Date, the Reference Price fallback waterfall set out in the Master Terms shall apply to determine the applicable Price at Expiry. In particular:

(b) If an Extraordinary Event (including a protocol fork, hard fork, airdrop, change in consensus mechanism, or delisting of the Digital Asset) occurs during the Term, OKX as Calculation Agent may adjust the terms of the Product as necessary to preserve the economic terms, or if no adjustment is sufficient, terminate the Product in accordance with the Master Terms.

(c) OKX shall not be liable for any loss arising from a price determination made pursuant to the fallback provisions, subject to the standard of good faith and commercial reasonableness.

4.7 OKX-Initiated Termination

(a) OKX reserves the right to terminate this Service (including any specific Dual Investment Product) in advance at its sole discretion in any of the following circumstances:

• (i) Termination is required due to applicable regulatory requirements or changes in law;

• (ii) A force majeure event, Extraordinary Event, or Market Disruption Event renders OKX unable to continue to perform its obligations;

• (iii) A price disruption cannot be resolved within the maximum postponement period under the Master Terms; or

• (iv) OKX otherwise determines, acting reasonably, that termination is necessary having regard to market conditions or the integrity of the Product.

(b) If OKX initiates early termination, it shall make reasonable efforts to notify the User in advance.

(c) Upon OKX-initiated termination:

• (i) no yield may be paid to the User; and

• (ii) the return of principal shall be at the mark-to-market value of the Product as determined by OKX as Calculation Agent in good faith and in a commercially reasonable manner, which may be less than the Investment Amount. OKX shall notify the User of the applicable settlement terms prior to or upon termination.

(d) If OKX determines that an Order Terms document contains a manifest error (including a clearly erroneous Target Price or Term Rate), OKX shall have the right to cancel the relevant Product. If cancelled, OKX shall promptly notify the User and return the Investment Amount in the Investment Currency. No yield shall be payable in respect of a cancelled Product.

(e) Settlement amounts upon OKX-initiated termination shall generally be credited to the User's OKX funding account within two (2) Business Days following the termination date.

5. Risk Disclosure and Limitation of Liabilities

5.1 General

The general risk disclosures and limitation of liability provisions applicable to all structured products are set out in the Master Terms and are incorporated herein by reference. The following risk disclosures are specific to the Dual Investment Product and supplement (but do not replace) the risk disclosures in the Master Terms.

5.2 Dual Investment Product — Specific Risk Disclosures

(1) Non-Principal Guaranteed — Conversion Risk. The Dual Investment Product is not a principal-guaranteed product. The User's Investment Amount, in certain situations, are physically converted into the Target Currency at the Target Price, The market value of the asset received at the time of settlement may be substantially less than the Investment Amount, and in extreme market conditions could result in a significant or near-total loss of value.

(2) Embedded Short Option — Derivative Nature. By subscribing to a Dual Investment Product, the User is effectively selling an option to OKX in respect of the Underlying Currency Pair in exchange for the Total Yield. Users should ensure they fully understand the risks of short option positions, including the potential for significant losses if the index price for the Underlying Currency Pair moves sharply against the User's directional view and the User converts their Investment Amount at the Target Currency at a loss when compared to the market price.

(3)Yield Does Not Compensate for Capital Loss. The APR is fixed and does not adjust based on the performance of the Underlying Currency Pair. In conversion scenarios, the total yield received at expiry may be insufficient to offset the capital loss arising from conversion of principal at the Target Price.

(4) Opportunity cost. Once a Product is subscribed, the Investment Amount is paid to OKX and the User will not be able to invest or trade this Investment Amount. The yields the User may have gained in other opportunities may be higher than the yields provided by this Product.

(5) No Secondary Market. There is no secondary market for Dual Investment Products. The User cannot transfer, sell, or assign the Product to any third party. Early exit is only possible via an early unwind, which is subject to OKX's sole discretion and may result in a settlement amount materially below the Investment Amount (see Clause 4.5).

(6) Settlement Timing. Settlement of Total Yield and principal is subject to operational processing times. OKX targets settlement on the Expiry date, but does not guarantee delivery at a specific time. Blockchain network conditions and exchange operational factors may cause delays outside OKX's reasonable control.

(7) Tax Treatment. The tax treatment of the Total Yield received and gains or losses arising on settlement (including physical delivery) may vary depending on the User's jurisdiction of residence and applicable tax classification of the Product. Yield income may be taxable, and asset delivery may trigger disposal events for capital gains purposes. OKX does not provide tax advice. Users should consult their own tax advisers prior to subscribing.

(8) Currency and Conversion Risk. Where the Settlement Currency differs from the User's reference currency, the User is exposed to exchange rate fluctuations between the Settlement Currency and the User's reference currency, in addition to the price risk of the Underlying Currency Pair itself.

Users must have sufficient financial capability, experience, and willingness to bear all risks described herein. The Dual Investment Product is not suitable for all investors.

5.3 Limitation of Liability

(1) WITHOUT PREJUDICE TO THE LIMITATIONS OF LIABILITY SET OUT IN THE MASTER TERMS AND TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL OKX BE LIABLE TO THE USER FOR ANY LOST PROFITS, DELAY, LOST BUSINESS, OR FOR ANY CONSEQUENTIAL, INCIDENTAL, SPECIAL OR INDIRECT DAMAGES OF ANY KIND, WHETHER ARISING IN CONTRACT, TORT OR OTHERWISE, IN CONNECTION WITH ANY DUAL INVESTMENT PRODUCT.

(2) You agree and accept that OKX shall not be liable for losses arising from: service suspension for maintenance; cyber attacks or security breaches; telecommunications failures; force majeure events; regulatory changes; blockchain network congestion or protocol failures; or any other event beyond OKX's reasonable control.

(3) The aggregate liability of OKX under or in connection with these Terms shall not exceed the total fees (if any) received by OKX from you in connection with the relevant Product.

6. Mandatory Measures

You agree and accept that OKX strictly prohibits unfair trading practices. OKX reserves the right to exercise control over your account or close your account if you engage in any of the following:

(1) Market manipulation or any other malicious market behaviour;

(2) Harming or attempting to harm other users or OKX by exploiting loopholes or vulnerabilities of the Service;

(3) Participation in any activities that OKX regards as potentially harmful to the market; and/or

(4) Violation of applicable laws and regulations.

OKX reserves the right to take such measures at its sole discretion, including closing your account and/or cancelling your orders. OKX shall not be liable for any losses incurred in connection with such measures.

7. Indemnification

7.1 You shall take all reasonable steps to protect OKX and its affiliates from damages or losses arising from your use of the Service or actions related to your OKX account.

7.2 You hereby agree to release, defend, indemnify and hold OKX and its affiliates harmless from any claim or demand (including reasonable legal fees) made by any third party against OKX arising from your breach of these Terms, your improper use of this Service, your violation of any applicable laws or regulations, or the rights of any third party.

8. No Business, Legal, Financial or Tax Advice

OKX is not your broker, dealer, agent or consultant and does not have a fiduciary relationship with or duty towards you in respect of any Dual Investment Product. No information provided by OKX shall be deemed business, legal, financial or tax advice. You shall determine whether any Product is appropriate for you based on your own investment objectives, financial condition and risk tolerance, and shall be solely responsible for all losses and liabilities arising from your subscription. You should consult your own financial, legal and tax advisers as appropriate before subscribing.

9. Third Party Website Disclaimer

Any links to third party websites in OKX Services do not constitute an endorsement of any products, services or information provided therein. OKX shall not be liable for any losses arising from your use of third party products and services. OKX and each third party website are independent legal entities.

10. Governing Law

These Terms, your use of the Services, any claim, counterclaim or dispute of any kind or nature whatsoever arising out of these Terms, directly or indirectly, shall be governed by, and construed in accordance with the laws of England and Wales without regard to the principles of conflicts of laws thereof.

11. Jurisdiction and Dispute Resolution

11.1 You acknowledge and agree that in the event of any dispute, controversy, difference or claim, including the existence, validity, interpretation, performance, breach or termination of the Terms or any dispute arising out of or relating to the Terms (“Dispute”), the parties shall first refer the Dispute to proceedings at the Hong Kong International Arbitration Centre (“HKIAC”) in accordance with HKIAC’s Mediation Rules in force for the time.

11.2 If the Dispute has not been settled upon the signing of a settlement agreement within ninety (90) days following the filing of a request for mediation set forth in Clause 11.1, such Dispute shall be referred to and finally resolved by arbitration administered by the HKIAC under the HKIAC Administered Arbitration Rules in force when the Notice of Arbitration is submitted. The law of this arbitration clause shall be the laws of the Hong Kong Special Administrative Region of People’s Republic of China (“Hong Kong”).

11.3 You agree that the seat of arbitration shall be Hong Kong. The number of arbitrators shall be three (3). OKX shall appoint one (1) arbitrator and you shall appoint one (1) arbitrator. The third arbitrator shall be appointed by the Chairman of the HKIAC. Such arbitrators shall be freely selected, and the parties shall not be limited in their selection to any prescribed list. The arbitration proceedings shall be conducted in English.

11.4 You agree that OKX shall not be required to give general discovery of documents, but may be required only to produce specific, identified documents which are relevant and material to the outcome of the Dispute.

11.5 Any arbitral award shall be final and binding upon the parties hereto and shall be enforceable in any competent court which has jurisdiction.

12. Miscellaneous

12.1 OKX reserves the right to unilaterally modify these Terms at any time without prior notice. Revised Terms shall be posted on OKX's website. Your continued use of or access to the Service following the posting of any changes constitutes acceptance. If you do not accept the revised Terms, please stop using the Service.

12.2 Unless otherwise instructed by OKX, formal communications shall be made through the OKX Support Center. Formal communications shall be in English; in any discrepancy between English and a foreign-language version, the English version prevails.

12.3 If any provision of these Terms is invalid, illegal or unenforceable, the remaining provisions shall not be affected. The invalid provision shall be modified to the minimum extent necessary to make it enforceable, or if not possible, severed.

12.4 No failure or delay by OKX in exercising any right under these Terms shall operate as a waiver.

12.5 You shall not transfer, novate or assign these Terms or any rights hereunder without OKX's prior written consent. OKX may transfer, novate or assign any rights or obligations under these Terms by written notice to you.

12.6 The headings in these Terms are for convenience only and shall not affect interpretation.

12.7 In the event of any discrepancy between the English version of these Terms and any foreign-language translation, the English version shall prevail.

12.8 OKX has sole and final discretion in the interpretation of these Terms.