TERMS AND CONDITIONS

Welcome to Echelon Quantitative Inc. ("Echelon," "we," "our," or "us"). These Terms and Conditions ("Terms") govern your use of xnav.live, our website, data services, and related offerings (collectively, the "Services"). By accessing or using the Services, you agree to be bound by these Terms and our Privacy Policy.

1. Use of Services Echelon grants you a limited, non-exclusive, non-transferable license to access and use the Services for your internal purposes in accordance with these Terms. You agree not to reproduce, redistribute, sell, create derivative works from, or exploit our Services or data in any unauthorized manner.

2. Intellectual Property All content, data, models, software, and designs provided through our Services are the property of Echelon or its licensors. This includes our proprietary xNAV methodology and all intraday NAV estimates. No rights are granted except as expressly stated. All trademarks, service marks, and logos are owned by Echelon unless otherwise noted.

3. User Responsibilities You must not use the Services for any unlawful purpose, to violate the rights of others, or to interfere with the functioning of the Services. You are responsible for maintaining the confidentiality of any login credentials associated with your account.

4. Not Investment Advice All xNAV estimates, attribution data, and analytics provided through the Services are for informational purposes only and do not constitute investment advice, financial advice, or a recommendation to buy or sell any security or fund interest. Echelon is not a registered investment adviser. You are solely responsible for any investment decisions you make based on information accessed through the Services.

5. Subscription and Payment Access to certain features or data requires a paid subscription. All fees are non-refundable unless otherwise stated in a written agreement. Echelon reserves the right to change pricing and subscription terms with prior notice.

6. Data Accuracy and Limitation of Liability xNAV estimates are model-based intraday estimates and are not official fund NAVs. Official NAVs are published by fund administrators after market close. Echelon endeavors to provide accurate and timely estimates but all data is provided "as is" without warranties of any kind, including fitness for a particular purpose. Echelon shall not be liable for any direct or indirect losses arising from use of the Services, including financial loss, investment decisions, or system downtime.

7. Termination Echelon may suspend or terminate your access to the Services at its sole discretion for any violation of these Terms. Upon termination, all rights granted to you under these Terms shall cease.

8. Governing Law and Dispute Resolution These Terms are governed by the laws of the State of New York, without regard to its conflict of law principles. Any disputes shall be resolved exclusively in the state or federal courts located in New York County, New York.

9. Amendments We may update these Terms from time to time. Continued use of the Services after changes are posted constitutes your acceptance of the revised Terms.

Contact: For questions regarding these Terms, contact us.