Effective Date: February 1, 2025 Last Updated: February 1, 2025 Spill The Beans, Inc. ("Cheddar," "we," "us," or "our") provides its services through the following entity: Spill The Beans, Inc. (USA) 2925 Van Ness Avenue #6 San Francisco, CA 94109, USA The Cheddar platform (“Platform”) includes our website (“Website”), mobile applications (“App(s)”), and all related services (collectively, the “Services”) that facilitate skill-based gaming and social engagement. By accessing or using the Platform, you acknowledge that you have read, understood, and agreed to these Terms of Use (“Agreement”). Certain features of the Platform may be subject to additional guidelines, terms, or rules (“Additional Terms”), which will be posted on the Website or App. Your continued use of the Platform constitutes acceptance of all applicable terms, policies, and regulations governing Cheddar. THIS AGREEMENT CONSTITUTES A LEGALLY BINDING CONTRACT BETWEEN YOU AND CHEDDAR. BY ACCESSING OR USING THE PLATFORM, YOU AGREE TO BE BOUND BY THIS AGREEMENT. IF YOU DO NOT AGREE TO THE TERMS, YOU MUST IMMEDIATELY CEASE USE OF THE PLATFORM. This Agreement includes a MANDATORY ARBITRATION CLAUSE and a CLASS ACTION WAIVER. These provisions affect your legal rights, including: YOU MUST RESOLVE DISPUTES WITH CHEDDAR THROUGH INDIVIDUAL ARBITRATION, NOT A COURT TRIAL. YOU MAY NOT PARTICIPATE IN CLASS ACTION LAWSUITS OR REPRESENTATIVE CLAIMS AGAINST CHEDDAR. YOU MAY SEEK RELIEF ONLY ON AN INDIVIDUAL BASIS. By creating an account, making a deposit, participating in gameplay, or otherwise engaging with the Platform, you affirmatively accept this Agreement and represent that you have the legal capacity, authority, and eligibility to enter into a binding contract. If you do not meet the eligibility criteria or disagree with any provision of this Agreement, you must immediately discontinue use of the Platform.

1. Privacy

Cheddar is committed to protecting user data. By using our platform, you acknowledge and consent to the collection, processing, storage, and sharing of your information as described in our Privacy Policy. Cheddar reserves the right to modify its Privacy Policy at any time, and continued use of the platform constitutes acceptance of any changes.

2. Accounts

To create and maintain an account with Cheddar, users must be at least 18 years old, reside in an eligible jurisdiction, have a valid U.S. telephone number, and must not have been previously banned from the platform. Users may only maintain one account. Multiple accounts will result in termination and potential forfeiture of funds.

2.2 Account Verification

Cheddar may require verification of identity, age, or location at any time. Failure to provide requested information may result in immediate account suspension or termination.

2.3 Eligible Locations

Users may only access the platform from jurisdictions where skill-based gaming is legally permitted. Participation in real-money competitions is strictly limited to users physically located in Eligible Locations, as determined by Cheddar. At launch, Cheddar permits real-money gameplay only in Texas and California. Users must be physically present in one of these states while participating in any real-money contests. Prohibited Locations Any attempt to access Cheddar’s real-money contests from outside of Texas or California is strictly prohibited. Users may browse the platform from other locations, but they will not be able to enter real-money matches or withdraw winnings unless they are physically present in an Eligible Location at the time of participation. Location Verification & Compliance • Cheddar reserves the right to verify a user’s physical location at any time using device-based geolocation technology. • If a user attempts to participate from a non-Eligible Location, they may be blocked from entering contests or subject to account suspension. • VPNs, proxies, and other methods of circumventing location restrictions are strictly prohibited. Any attempt to misrepresent your location may result in permanent account termination and forfeiture of funds. Changes to Eligible Locations Cheddar reserves the right to expand, restrict, or modify the list of Eligible Locations at its sole discretion. In the event a location becomes ineligible after a user has entered a contest, Cheddar may: • Void the contest entry and return the buy-in amount. • Restrict future participation from that location. By using the platform, users acknowledge and agree that Cheddar is not liable for any loss of access or disruption of services due to changes in legal or regulatory requirements affecting skill-based gaming in any jurisdiction.

2.4 SMS Authentication & Authentication

By signing up for Cheddar and providing your phone number, you consent to receive SMS messages from us for the purpose of account authentication and security, including one-time passcodes (OTPs) for login verification. • Standard message and data rates may apply based on your mobile carrier plan. • You will only receive messages in connection with your use of the Cheddar platform. • You may opt out of SMS communications by replying STOP at any time. However, doing so may prevent you from accessing your account, as SMS is used for authentication. We do not use your phone number for promotional or marketing purposes without your express consent.

2.4 Account Deletion

Users may delete their accounts at any time through the app. However, account deletion does not exempt users from any obligations related to pending transactions, disputes, or legal responsibilities.

2.5 Account Responsibilities

Each user assumes full responsibility for their account and transactions. Users must secure their login credentials and are liable for any deposits or transactions made from their device. If a financial institution reverses a transaction, the user remains responsible for the balance. Accounts may not be shared, and violations will result in termination.

2.6 Authorization for Contact

By using the platform, users consent to receiving communications from Cheddar via text message, phone calls, email notifications, and in-app messaging for account verification, fraud prevention, customer support, or other legally necessary communications.

3. Use of the Platform

Users are granted a limited, revocable, non-transferable, and non-exclusive license to access and use the Cheddar platform in compliance with these Terms. Any unauthorized attempts to tamper with, reverse-engineer, decompile, or exploit the platform will result in termination and may lead to legal action.

3.1 Acceptable Use and Restrictions

Users may only access the platform for its intended purpose. The use of bots, automation, or scripts is strictly prohibited. Users may not misrepresent their identity, attempt to gain unauthorized access, or engage in activities that violate applicable laws.

4. Modifications and Ownership

Cheddar reserves the right to modify, suspend, or discontinue any aspect of the platform at any time. All platform content, trademarks, and intellectual property remain the exclusive property of Cheddar.

5. Third-Party Services

Cheddar integrates with third-party services for payments, identity verification, and analytics. Users acknowledge that these services have their own terms and conditions, which must be adhered to. Cheddar assumes no liability for third-party actions or service failures.

6. Fees, Deposits, and Withdrawals

Fees for using the platform are disclosed within the app and may change at Cheddar’s discretion. Deposits must be made using a payment method in the user’s name, and verification of location is required before a deposit is accepted.

6.1 Withdrawals

Users must complete identity verification before withdrawing funds. Withdrawals are currently only available via Venmo. Users may only withdraw funds that have been wagered in games. The minimum withdrawal amount is $5, and withdrawals may take up to two weeks to process. A withdrawal limit of $150 applies within a 7-day period, and any user withdrawing more than $600 in a tax year may be required to submit tax documentation.

6.2 No Customer Fund Storage

Cheddar does not function as a money transmitter or digital wallet service and does not hold user funds. All deposits made on the platform are exclusively used for entry fees into skill-based competitions and cannot be stored for general use, peer-to-peer transfers, or other financial transactions. Users may only withdraw winnings derived from successful competition outcomes. Cheddar ensures compliance with applicable financial regulations by structuring deposits and withdrawals as follows: Deposits: Users may add funds to participate in skill-based games, but these funds are strictly used for entry fees. Withdrawals: Users may only withdraw winnings earned from completed games. The withdrawal process requires identity verification and is subject to Cheddar’s withdrawal policies. No Fund Custody: Cheddar does not hold or safeguard customer funds for general use, making it legally distinct from payment processors and money transmission services. This framework ensures compliance with financial and gaming regulations while preventing misuse of the platform for non-gaming financial activities.

7. Anti-Money Laundering & Security Policies

Cheddar maintains a zero-tolerance policy for any activity that violates anti-money laundering (AML) regulations. Users are strictly prohibited from engaging in any form of financial misconduct, including but not limited to: • Collusive Play: Intentionally losing a game, match, or tournament for the purpose of transferring funds to another user. • Fraudulent Transactions: Depositing, withdrawing, or transferring funds in a manner inconsistent with legitimate skill-based gameplay. • Structured Transactions: Engaging in transactions designed to evade withdrawal limits, reporting requirements, or account verification processes. • Use of Multiple Accounts: Creating or using multiple accounts to manipulate game outcomes, circumvent platform restrictions, or facilitate financial transfers. • Use of Unauthorized Payment Methods: Funding an account using payment methods that are stolen, unauthorized, or do not belong to the user. AML Compliance & Enforcement Cheddar actively monitors transactions and gameplay activity for suspicious behavior. If we detect any attempt to engage in money laundering, fraud, or financial manipulation, we reserve the right to take immediate action, including but not limited to: • Suspension or Termination of Accounts: Any violation of this policy may result in immediate and permanent account termination, with or without prior notice. • Forfeiture of Funds: Any funds associated with fraudulent or suspicious activity may be frozen, seized, or forfeited at Cheddar’s discretion. • Reporting to Authorities: Cheddar fully complies with all applicable AML laws and regulations. Suspected violations may be reported to law enforcement, financial regulators, and payment processors as required by law. • Identity Verification: Users may be required to provide government-issued identification, proof of residence, and other documents to verify the legitimacy of their transactions. Failure to comply with verification requests may result in account suspension or permanent closure. User Acknowledgment By using the Cheddar platform, users acknowledge and agree that: • They will only use their own funds and will not attempt to circumvent financial or withdrawal policies. • Any misuse of the platform for financial gain outside of legitimate skill-based gaming is strictly prohibited. • Cheddar reserves the right to update or modify its AML policies at any time to ensure full regulatory compliance and prevent financial crime. Violations of this policy will be taken seriously. Cheddar is committed to ensuring a secure and transparent gaming environment for all users and will not hesitate to enforce its AML policies to the fullest extent of the law.

8. Cheating Policy

Cheating in any form is strictly prohibited. This includes the use of VPNs, bots, collusion with other users, fraudulent score submissions, or exploiting vulnerabilities in the platform. Violators may be disqualified from games, have their accounts suspended or terminated, and forfeit their account balance.

9. Indemnification

Users agree to indemnify and hold Cheddar harmless from any claims, liabilities, damages, or legal disputes arising from their use of the platform.

10. Disclaimers & Limitation of Liability

The platform is provided 'as is' and 'as available' without any warranties. Cheddar does not guarantee uninterrupted service, error-free operation, or compatibility with all devices. Cheddar's maximum liability is capped at $100 or the amount the user has paid in fees, whichever is greater.

11. Arbitration Agreement & Dispute Resolution

Any disputes must be resolved through binding arbitration. Users waive the right to file class-action lawsuits. Disputes involving less than $12,500 may be resolved in small claims court in San Francisco, California.

12. Changes to Terms of Use

Cheddar reserves the right to update these Terms at any time. Users will be notified of material changes, and continued use of the platform constitutes acceptance of any modifications.

13. Contact Information

Spill The Beans, Inc. 2925 Van Ness Avenue #6, San Francisco, CA 94109. Email: evan@thecheddar.app Support: evan@thecheddar.app