The Bullion Rush Trading Challenge

Effective date: August 5, 2026 2026

These Official Terms and Conditions (the “Terms”) govern participation in The Bullion Rush (the “Promotion”), a Kraken Futures trading competition. By participating, you agree to these Terms and to Kraken’s Terms of Service.

This Promotion is a skill-based trading contest. Participation requires opening and closing eligible Kraken Futures positions during the Promotion Period. There is no random selection of winners and no purchase of goods or services is required to participate; however, participation and ranking are based on trading activity, which involves financial risk. See Section 12 (Risk Disclosures).

Section 1 — Sponsor

This Promotion is sponsored by Tulip HoldCo Ltd., 2nd Floor, Water’s Edge Building, Wickhams Cay II, Road Town, Tortola, British Virgin Islands (“Sponsor” or “Kraken”).

Section 2 — Eligible Areas

The Promotion is open to eligible customers in jurisdictions where Kraken Futures trading is available, excluding the United States, the United Kingdom, the European Economic Area, Canada, and Australia. Void where prohibited.

Section 3 — Promotion Period

The Promotion runs from August 5, 2026, 00:00 UTC to September 5, 2026, 23:59 UTC (the “Promotion Period”).

Section 4 — How to Enter / How to Participate

From the Kraken Pro app:

• Open the latest version of the Kraken Pro app.
• Tap More in the bottom navigation bar.
• Under Promotions, tap Promos.
• Scroll to the Competitions section and tap See all.
• Tap 20,000 USDG XAU & XAG Perps Trading Challenge.
• Tap Enroll Now.

To enroll on web (Kraken Pro):

• Go to Kraken Pro in your browser.
• In the bottom left, click Promos.
• Select the Promotions tab.
• Select 20,000 USDG XAU & XAG Perps Trading Challenge.
• Click Enroll now.

• Participants must also hold an eligible Kraken account in good standing and have Kraken Futures trading enabled.
• During the Promotion Period, after enrolling participants may trade the XAU Perp and/or XAG Perp contracts (the “Eligible Instruments”).
• Ranking is based on each participant’s combined realized profit and loss (“Realized PnL”) across both Eligible Instruments during the Promotion Period, aggregated onto a single combined leaderboard.
• A participant must achieve combined Realized PnL of at least USD 1 to qualify for placement on the leaderboard.
• No entry fee or account opening fee is charged to participate beyond standard Kraken Futures trading fees, which apply to all trading activity regardless of the Promotion.

Section 5 — Winner Selection / Prize Distribution

Participants are ranked in descending order of combined Realized PnL across the Eligible Instruments as of the end of the Promotion Period. Rewards are distributed according to final leaderboard rank as follows:

Kraken’s determination of Realized PnL and final leaderboard rank is final. In the event of a tie, the participant who reached the tied Realized PnL figure earliest during the Promotion Period will be ranked higher.

Section 6 — Prize / Reward

The total reward pool for this Promotion is USD 20,000, distributed as USDG (or such other stablecoin or asset as Kraken may substitute) according to the table in Section 5. Rewards are non-transferable. Kraken reserves the right, in its sole discretion, to substitute a reward of equal or greater value if a listed reward becomes unavailable.

Section 7 — Kraken Account and KYC Requirement

To receive a reward, a participant must, before the end of the Promotion Period and before reward fulfillment, have: (a) a Kraken account in good standing; and (b) completed at least Intermediate KYC verification, plus any additional verification required by Kraken or applicable law in the participant’s jurisdiction. KYC is a condition of reward fulfillment only and is not required to enter or participate in the Promotion.

Section 8 — Eligibility

Participation is subject to the Eligible Areas restrictions in Section 2. By participating, each participant represents that they are not ineligible to participate under the laws of their jurisdiction of residence, and agrees to these Terms and to Kraken’s Terms of Service.

Section 9 — Disqualification

Kraken may disqualify any participant, in its sole discretion, for: providing false or misleading information; use of multiple accounts to gain an unfair advantage; use of bots, automated trading exploits, wash trading, or other manipulation of Realized PnL; circumvention of these Terms or applicable geo-restrictions; or any other fraudulent or abusive conduct.

Section 10 — Winner Notification and Reward Fulfillment

Kraken will notify winners within a reasonable time following the end of the Promotion Period, using the contact details associated with the winner’s Kraken account. Rewards will be distributed within a reasonable time following verification of eligibility and completion of the KYC requirement in Section 7. If a winner cannot be verified or does not complete required verification within a reasonable time, Kraken reserves the right to disqualify that winner and reallocate the reward.

Section 11 — Consents and Approvals / Data and Privacy

By participating, you consent to Kraken’s use of your entry and account data to administer the Promotion, verify eligibility, and communicate with you about the Promotion, in accordance with Kraken’s Privacy Policy. Kraken may disclose necessary data to third-party service providers solely for Promotion administration.

Section 12 — Risk Disclosures and Disclaimers

Trading Kraken Futures products involves a high degree of risk and is not suitable for all participants. Leverage can work against you and you may lose more than your initial deposit. Futures products are not available in all jurisdictions. Participation in this Promotion does not reduce the risks associated with trading and Kraken does not provide trading advice through this Promotion.

Kraken is not responsible for any failure of the Promotion caused by events beyond its reasonable control (force majeure), including platform outages, network failures, or other technical issues, and reserves the right to suspend, modify, or cancel the Promotion in such circumstances.

Section 13 — Limitation of Liability, Disputes, and Governing Law

By participating in this Promotion, you agree to and hereby release and hold harmless Tulip HoldCo Ltd. and its affiliates, officers, directors, employees, and agents (collectively, "Kraken") from any damage, injury, death, loss, claim, action, demand, or other liability ("Claims") arising from your participation in the Promotion or your receipt, use, or misuse of any reward, regardless of whether such Claims, or knowledge of the facts constituting such Claims, exist at the time of entry or arise at any time thereafter.

TO THE EXTENT PERMITTED BY APPLICABLE LAW: (1) ANY AND ALL DISPUTES, CLAIMS AND CAUSES OF ACTION THAT CANNOT BE RESOLVED BETWEEN YOU AND KRAKEN ARISING OUT OF OR CONNECTED WITH THE PROMOTION WILL BE RESOLVED INDIVIDUALLY, WITHOUT RESORT TO ANY FORM OF CLASS ACTION; (2) ANY AND ALL CLAIMS, JUDGMENTS, AND AWARDS WILL BE LIMITED TO ACTUAL THIRD-PARTY, OUT-OF-POCKET COSTS INCURRED, IF ANY, NOT TO EXCEED TWENTY-FIVE US DOLLARS (USD $25.00). ATTORNEYS' FEES ARE NOT RECOVERABLE; (3) YOU WAIVE ALL RIGHTS TO SEEK PUNITIVE, INCIDENTAL, CONSEQUENTIAL, OR SPECIAL DAMAGES, OR LOST PROFITS; AND (4) YOUR REMEDIES ARE LIMITED TO A CLAIM FOR MONEY DAMAGES ONLY AND YOU IRREVOCABLY WAIVE ANY RIGHT TO SEEK INJUNCTIVE OR EQUITABLE RELIEF.

Any dispute arising from or relating to this Promotion will be resolved in accordance with the dispute resolution provisions of Kraken’s Global Terms of Service, available at https://www.kraken.com/legal/global-terms, which are incorporated into these Terms by reference.

Section 14 — Taxes

Participants are solely responsible for any taxes arising from their participation in the Promotion or receipt of a reward. Kraken does not provide tax advice and makes no representation regarding the tax treatment of any reward.

Section 15 — General Terms

Kraken reserves the right to modify, suspend, or terminate the Promotion at any time for any reason, including suspected fraud or technical failure, subject to applicable law. Kraken’s decisions regarding all aspects of the Promotion, including leaderboard rankings and reward eligibility, are final. If any provision of these Terms is held invalid or unenforceable, the remaining provisions will remain in full force and effect.