EXMO Whitepaper

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Disclaimer 2 About​ the Exchange 3 History 3 Rankings 4 Reputation 4 Products 5 Current 5 Development 7 EXMO Coin 10 The Main Idea 10 Legal​ Restrictions 10 Technical​ Parameters 11 Issuance 1​2 The Advantages of EXMO Coin 1​3 The EXM Usability Roadmap 1​6 Use of Raised Funds 1​7 Token u​tilization 1​9 Order​ of Token Sale 1​9 Why​ an IEO 20 Price, Rounds, Time Frames 20 Private Sale 20 IEO public rounds 21 Locked-up Tokens 22 Terms of Participation 2​3 Jurisdiction Restrictions 2​3 The L ​ isting​ conditions 2​5 Team 2​5 EXMO in Mass Media 2​7 EXMO Coin (EXM) Whitepaper 1 v. 1.0 / July 2019

Disclaimer This document is not an advertising catalog or other document containing an offer of securities and is not intended to offer securities or promote investments in securities in any jurisdiction. EXMO Coin (EXM) Whitepaper 2 v. 1.0 / July 2019

About the Exchange History Founded in 2013 and based in London, Kyiv, Moscow and Istanbul, EXMO Cryptocurrency Platform has 1.6 mln users, 50 000 active daily traders, more than 160 trading pairs, 6 fiat currencies (USD, EUR, RUB, PLN, UAH, TRY) on the platform. The average daily trading volume is $30 mln. Apart from standard operations, the exchange offers IEO services (the first IEO hosted by the platform sold out in 99 seconds), OTC trading, VIP service, fast API, increased cashback and merchant services (the ability for any business to accept payments in cryptocurrency). The mission of our Platform is to be the exchange portal into the world of cryptocurrencies! EXMO Coin (EXM) Whitepaper 3 v. 1.0 / July 2019

Rankings Reputation EXMO Coin (EXM) Whitepaper 4 v. 1.0 / July 2019

Products Current 1. Spot-trading & Cashback on the trading fees The main source of profit for the EXMO Cryptocurrency Platform is the commission from trading operations. Our team offers the following incentive system to our active users: up to 70% less trading fees, depending on the user's trading volume. The Cashback system implies a progressive discount scale on trading fees. Users with a trading volume of over 100,000 USD (over the last 30 days) unlock the ability to get back a percentage of their trading fees. In order to motivate users to increase the level of liquidity in exchanges market depth, the Cashback system provides different levels of the trading commission return, depending on the trade operations classification on "Maker” and- “Taker” principle. More specifically, an executed limit order (Maker transaction) is awarded double the cashback of an executed market order (Taker transaction). The Cashback is calculated daily based on the trading volume of maker-taker transactions. As an order executes, the system automatically credits the rebated amount to the trader. The trading fee is calculated and paid in the traded currency. EXMO Coin (EXM) Whitepaper 5 v. 1.0 / July 2019

2. Referral (Affiliate) Program Our referral (affiliate) program works to incentivize the growth of the exchange's user base. Each user of the EXMO Cryptocurrency Platform can set up their own affiliate network to refer new traders to the exchange and earn rewards for all of their trades. The user (referrer) can generate their own unique referral link and share it with potential users (referrals) to register on the EXMO Cryptocurrency Platform. Any trade completed by the referral earns a fixed percentage for the referrer, deducted from the trading fee. 3. The Listing System The EXMO Cryptocurrency Platform offers its users access to the hottest assets in the cryptocurrency market. By running promising projects, coins and tokens through a comprehensive selection process, offering robust technical support, performing rigorous analysis of regulatory requirements and risks, and reviewing feedback from our community, EXMO employs a cutting-edge listing system that reflects the market and its trends. 4. Initial Exchange Offering (IEO) The Initial Exchange Offering refers to a token sale conducted on the exchange. The key difference between an IEO and the traditional ICO model is that the exchange acts as the facilitator. The exchange's team conducts a preliminary audit and technical analysis of the project and their token, appraises the project's potential and investment appeal, and only then announces the start of a token sale on the platform. EXMO Coin (EXM) Whitepaper 6 v. 1.0 / July 2019

5. EX-CODE EX-CODE is the “native currency” of the EXMO platform. It allows users to preserve or transfer any financial instrument outside the exchange. EX-CODE is an encrypted combination of symbols, empowering the users to generate, send or accept codes in any currency available on EXMO. 6. The Online Exchange Chat Users of the EXMO Cryptocurrency Platform can communicate with each other in real time, share the latest market trends, exchange opinions and discuss trading strategies. Moreover, the exchange chat is the best way to get the latest news of any platform innovations, changes of the fee structures, project listings and other relevant events. Development 1. Margin Trading Margin trading refers to the practice of using borrowed funds with the trader's own funds being used as collateral. Naturally, in return for the opportunity to trade with margin, the platform charges the trader commission for using borrowed funds. The EXMO Cryptocurrency Platform is hard at work creating a margin trading system built around security and risk-management for its users. Following a comprehensive analysis and technical testing, in the very near future we expect to offer our users the ability to trade with leverage, open long and short positions, allowing them to profit from the market, whether the trend is bullish or bearish. 2. Complex Orders An order is the primary tool of a trader on an exchange. An order allows the user to perform trades, determine acceptable levels of gains and risks, take profits and cut losses. The most common types of orders are a limit order and a market order, that cover the basic needs of most traders. However, building more EXMO Coin (EXM) Whitepaper 7 v. 1.0 / July 2019

complex trading strategies require more sophisticated tools. These include the ability to limit losses (e.g. Stop Loss), create a hidden order, set execution parameters (execute fully or cancel, execute partially or cancel, etc.), set a delayed order, or employ a strategy (Iceberg, TWAP, etc.). To implement any of the above, complex orders become a necessity. The EXMO Cryptocurrency Platform is pleased to announce the implementation of the first in a series of complex orders, the stop-loss, coming in Q3 2019. This will give traders flexibility in managing the risk of losing their capital by limiting losses to acceptable levels. 3. Mobile App With the main goal of the EXMO Cryptocurrency Platform in mind — to be a portal into the world of cryptocurrencies — we aim to make this window universal and untethered from the user's location. To this end, we're finishing the development of our mobile app. The mobile app will empower our users with all the main tools of the exchange, allowing them to trade with nothing but their smartphone. The mobile app will be available for iOS and Android users in the stores. EXMO Coin (EXM) Whitepaper 8 v. 1.0 / July 2019

4. Copy Trading The traditional form of copy trading is a manner of investing where professional exchange traders allow newbies or traders with limited time for trading to mirror all the trades performed by the professional. One way that copy trading differs from investing with a financial consultant is that the newbies don’t need to physically transfer their assets. Theirs capital remains with them while the trades are mirrored to what the professional trader is doing with his capital. 5. Cloud Mining A series of strategic partnerships with major global manufacturers of mining equipment, mining pools and providers of distributed hashing power for cloud computing allows the EXMO Cryptocurrency Platform to offer our users the ability to rent hashing power directly from our partners. 6. Voting Rights to List/Delist Assets on the Exchange Community opinion is an important component to the business model of the EXMO Cryptocurrency Platform, we want to earn the trust of our users by listening and carefully considering their feedback. To this end, we plan on adding a function to vote to have promising projects being listed on the exchange. On the one hand, new assets represent new investment opportunities. On the other hand, they are fraught with certain risks. We always aim to conduct a rigorous analysis of all projects considered for listing, but it's possible that our specialists might overlook certain important details. By giving a voice to our users, we'll be adding yet another quality assurance step to the verification process. Same goes for delisting. Sometimes projects fail to live up to expectations and cease developing for one reason or another. In such a case, delisting becomes a necessity. But since our users may be invested in the asset, the decision is up to them, as well. EXMO Coin (EXM) Whitepaper 9 v. 1.0 / July 2019

EXMO Coin The Main Idea EXMO Coin is a utility token for the exchange's internal ecosystem. As such, we plan on integrating the token into many additional services as we expand the platform. Conceptually, EXMO Coin is similar to that of many other exchange tokens in the world of cryptocurrency trading: it offers bonuses and advantages when utilizing the exchange's tools and products while ensuring security and confidence in one's investment. Legal Restrictions EXMO Coin is in no way a direct or indirect analog of shares, participation interests, liabilities, legal claims, legal titles or interests with respect to the EXMO Cryptocurrency Platform, its affiliates or any other company, enterprise or institution, nor does EXMO Coin entitle its owners to any promises of payment, dividends, unconditional income, profits or investment income, and is not intended to secure the issue of securities in the British Virgin Islands, the United Kingdom or any other jurisdiction. Subject to the terms of the issuance, EXMO Coin: (a) IS NOT refundable and may not be exchanged for cash by the EXMO Cryptocurrency Platform or any EXMO affiliate; (b) DOES NOT represent or grant the token holder any rights in any form with respect to the EXMO Cryptocurrency Platform (or any of its affiliates) or its revenues or assets, including, without limitation, any right to receive dividends, revenues, ownership or interest, security, voting, distribution, redemption, liquidation, property (including all forms of intellectual property or license rights), or other financial or legal rights or equivalent rights, or any other forms of participation in or with respect to the EXMO Cryptocurrency Platform; (c) DOES NOT constitute any rights under a contract for differences or any other contract whose purpose or intended purpose is to make a profit or avoid losses; (d) DOES NOT represent money (including digital money), securities, commodities, bonds, debentures or any other type of financial instrument or investment; EXMO Coin (EXM) Whitepaper 10 v. 1.0 / July 2019

(e) IS NOT a loan to the EXMO Cryptocurrency Platform or any of its affiliates, and is not a debt of the EXMO Cryptocurrency Platform or any of its affiliates. Ownership of EXMO Coin does not contain any rights, express or implied, other than the right to use EXMO Coin as an instrument that can be used to interact on the EXMO Cryptocurrency Platform. EXMO Coin will also function as an economic incentive for users to participate in the EXMO ecosystem. Technical Parameters EXMO Coin is issued on the Ethereum blockchain using the ERC20 standard as the smart contracts interface. Why ERC20? ● Platform maturity ● Widespread and popular ● POW ● Large community ● Large amount of code ready for development ● Available token standards ● Large number of dApps on the platform All ERC20 compatible tokens are supported by the majority of crypto exchanges and wallets interfacing with the Ethereum network. After the public token sale, we plan on launching the equivalent contract on the TRON blockchain using the TRC20 standard and implementing the ability to swap assets between the TRON and Ethereum blockchains. Additionally, we plan on implementing atomic swaps between these blockchains. The token's smart contract is coded in Solidity. The token is fully compliant with the international security standards ISO/IEC 27001 and CryptoCurrency Security Standard (CCSS). EXMO Coin (EXM) Whitepaper 11 v. 1.0 / July 2019

Issuance Exchange ticker: E ​ XM Asset name: E ​ XMO Coin Asset type: t​ oken Token supply: 2 ​ ,000,000,000 EXM Nominal token price: 0 ​ .000001 BTC The total cap: 2 ​ 000 BTC Initial coin allocation among participants: ● 30%​ of the issued tokens to be placed on the open market by conducting seven fundraising rounds, starting from private pre-sales for large investors interested in our platform and ending with three public rounds (IEO) for all users interested in purchasing the token. ● 20%​ of the tokens to be used for operational expenses + as preemptive option to purchase for the exchange's team. ● 50%​ of the tokens to be locked up for a period of 3 years. Following the lock-up, the tokens will be transferred to the exchange once every 6 months at a rate of no more than ⅙ of the initially placed amount for the development of the exchange's product and legal departments. EXMO Cryptocurrency Platform reserves the right to cancel any of the token unlocking rounds. In such a case, the tokens scheduled for placement will be burned. The smart contract link: 0x83869de76b9ad8125e22b857f519f001588c0f62 There are no plans for any additional issuance of EXMO Coin tokens. EXMO Coin (EXM) Whitepaper 12 v. 1.0 / July 2019

The Advantages of EXMO Coin Following the initial placement of EXMO Coin tokens, the plan is to integrate the token into the EXMO internal ecosystem, as well as execute strategic partnerships with leading payment systems and cryptocurrency wallets to integrate EXMO Coin into their respective systems and wallets. In an effort to stimulate active use of the tokens on our platform, we plan on gradually implementing a series of incentives, including but not limited to: 1. Reduced trading fees EXMO users will be able to increase their cashback rate, thereby reducing their trading fees by up to 50%. The package service will be paid in EXMO Coin and apply for the duration of the chosen period. Cost of increased cashback packages is as follows: Cashback rate* Package cost** Maker Taker 30 days 10% 5% 1 USD 25% 12,5% 10 USD 35% 17,5% 100 USD 50% 25% 500 USD * - ​The cashback is calculated daily based on the trading volume of maker-taker transactions. As an order executes, the system automatically credits the rebated amount to the trader. The trading fee is calculated and paid in the traded currency. The payment is remitted the day following the completion of the trade. ** -​ ​The service is paid in EXMO Coin at the current payment rate Increased cashback starts at 00:00 UTC following the date of purchase through 23:59 UTC of the last date of the purchased period. The EXMO Cryptocurrency Platform reserves the right to amend the terms of the service, including enabling/disabling the service at our discretion, with advance notice to the exchange's users through official channels. EXMO Coin (EXM) Whitepaper 13 v. 1.0 / July 2019

2. Reduced margin trading fees After launching margin trading on the EXMO Cryptocurrency Platform, users will be given the option to pay for leveraged trades with EXMO tokens. Using EXMO tokens to pay for leveraged trades will be discounted as compared to using the leveraged currency. The exact amount of the discount will be determined after the function is implemented. The number of EXMO tokens required to pay for the margin trade will be calculated off the market rate of EXM to the leveraged currency (or off the cross rate to BTC). The service will be in effect from the moment it's activated in the user's personal settings without expiration. 3. Copy successful traders After launching copy trading as a service, users of the EXMO Cryptocurrency Platform will be given the option to copy top traders with EXMO tokens. The list of top traders, including details of their portfolios, will be published on a dedicated page of the EXMO Cryptocurrency Platform. The service will be offered for purchase for a specific period. 4. Payments to access the cloud mining service Users of the EXMO Cryptocurrency Platform will be given the option to purchase hashing power from our partners with their EXMO tokens. Details will be announced separately through official channels when the service is implemented. 5. The priority listing of new cryptocurrencies and tokens in pair with EXMO Coin After the listing of new coins or tokens on the EXMO Cryptocurrency Platform, they will be available for trading exclusively for 3 days (in pairs with EXM). EXMO Coin (EXM) Whitepaper 14 v. 1.0 / July 2019

At the conclusion of the three-day exclusive trading period, new coins or tokens will be available for trading as a pair the other currencies. 6. Special access to the IEO platform Users of the EXMO Cryptocurrency Platform will be granted access to Initial Exchange Offerings that pass the selection process. IEOs will be conducted in two pairs: with BTC (or other "traditional" currency) and with EXMO Coin. Note that using the EXMO Coin trading pair will qualify for a special discount, set against 1 unit of the IEO asset. The size of the discount will be set for each project individually. 7. Increased referral payouts Users whose referrals complete trades with EXMO tokens on the exchange will receive increased affiliate payouts for those operations. Affiliate rates to be determined. 8. Airdrops Users who hold certain amounts of EXMO Coin on the platform over certain periods of time will be rewarded with partner airdrops during various promotional events. Details of each partner promotion will be announced separately. The EXM Usability Roadmap Integrating EXMO Coin into settlements system on the EXMO Cryptocurrency Platform is designed to extend the token's influence. Users will be given the option to use the current system or the system built on EXMO Coin. The integration of EXMO Coin into the exchange's ecosystem will take part in stages. I stage: EXMO Coin (EXM) Whitepaper 15 v. 1.0 / July 2019

● as a trading pair with the currencies in highest demand; ● access to the IEO platform with a special discount; ● priority listing of new cryptocurrencies and tokens in a pair with EXMO Coin (front-running); ● airdrops of partner coins. II stage: ● purchase increased cashback as a rebate of trading fees for a selected period with EXMO Coin; ● customization of the user's personal login displayed in the chat (the login color, exclusive attributes, etc.). III stage: ● copy trading function: automatically follow successful traders by mirroring their trades; ● affiliate payouts; ● vote for listing/delisting coins on the exchange; ● integrate EXMO Coin with leading cryptocurrency payment systems and wallets as means of payment; ● option to convert untradeable amounts of coins to EXMO Coin; ● discounted fee for using leverage when margin trading; ● additional options from our suite of products and services, to be determined as they are developed. EXMO Coin (EXM) Whitepaper 16 v. 1.0 / July 2019

Use of Raised Funds 40% of raised funds — ​ technical development: One of the main goals in issuing EXMO Coin is to raise funds to accelerate the development of our products. This development requires a significant amount of work, the details of which are listed in the Upcoming section of Our Products page. In an effort to accelerate the release of new instruments for our users, we plan on allocating the majority of funds raised precisely to strengthen our team of developments. Additionally, a key direction of our technical program is ensuring the security of user funds. To this end, we will be allocating a portion of the funds raised to projects related to IT security, audits, and storage of assets. 40% — ​ marketing: A large portion of the raised funds will be used to promote the EXMO brand on international markets. An aggressive marketing strategy will include reduced trading fees (up to 50%), context-based advertising, and so on. It's no secret that the main goal of any platform is to grow its user base. We are serious about attracting new customers and maintaining our reputation as a reliable cryptocurrency exchange. 10% — ​ legal support: Working with fiat currencies and reliable banks requires licenses. In order to simplify the process for traders and wallet holders, we'll be allocating 10% of the raised funds for legal expenses and licensing fees. We believe that regulatory compliance is key to reliable, projected growth. 10% — ​ insurance fund: 10% of the raised funds will be allocated to an emergency insurance fund. Blockchain technology is a relatively new and undeveloped innovation in the world of modern information technologies. Despite the efforts made by the major exchanges and players in the crypto industry, there are the EXMO Coin (EXM) Whitepaper 17 v. 1.0 / July 2019

occasional emergency situations in which user funds are put at risk. In an effort to protect our users from such losses, we have decided to create a special insurance fund that would cover those losses in the event of such force-majeure losses. EXMO Coin (EXM) Whitepaper 18 v. 1.0 / July 2019

Token Utilization Starting Q1 2020, all the tokens used for purchasing reduced trading fees by way of an increased cashback rate (as a subscription) will be subject to utilization. Thus, every quarter the number of EXMO Coin tokens will decrease. EXMO tokens subject to utilization will be kept in a separate public wallet and burned every quarter rather than being put back into circulation. Utilization will continue until the token supply is reduced to 50% of the total circulating supply. The Order of Token Sale Placement of EXMO tokens will happen over several stages. At the first stage, 50% of the total issued tokens will be sold. The remaining 50% will be subject to a 3-year lockup to be partially unlocked every six months. A portion (20%) of the total issued tokens will be distributed to the team and used to cover operational expenses. The remaining 30% of the issued tokens will be put on the open market in a public sale. We plan on holding one private (closed) sale round and several public (open) rounds. The private round will satisfy the demands of large investors interested in our platform. The public rounds (three in total) will be held as an open exchange offering (IOE) on our platform. The first two public rounds will offer EXMO tokens at a discount off the nominal price (see the Stages, Time Frames, Price section for details on pricing). As for the 50% of the issued tokens to be locked up for 3 years, we plan on placing 1/6 of the initially locked-up tokens every six months. The placement will take place openly on our platform using the IEO mechanism. EXMO Coin (EXM) Whitepaper 19 v. 1.0 / July 2019

Why an IEO? The idea to issue a token for the exchange's internal infrastructure as an IEO on our own platform was conceived as the most convenient and profitable fundraising option—both for the exchange and for the token investors. The EXMO exchange is directly connected to the world of cryptocurrencies, working around-the-clock to develop product solutions to make the cryptocurrency market as simple and as convenient as possible for all our customers, without exception. Our goal is to raise 2 000 BTC in stages. This will allow us to strengthen our team of developers, build a more aggressive and widespread marketing system, and meet the growing demand for sophisticated instruments required for trading cryptocurrencies. An influx of investment will allow us to grow our trading volume by orders of magnitude, make it into the top 10 exchanges within 3 years, and challenge the world's largest exchanges. Over this period, our goal is to expand our suite of products and security solutions, and deploy an aggressive marketing campaign to multiply our trading volume by an order of 10. Price, Rounds, Time Frames Private Sale A private pre-sale round is planned for the first stage of placement, where a portion of the issued tokens will be offered to large investors via individual requests. Requests will be accepted through 23:59 GMT+3 July 1, 2019 via email at [email protected]​ or via the feedback form found at exmocoin.exmo.com​ (​exmocoin.exmo.me​) The amount of tokens allocated for placement during the private round: 600,000,000. Minimum purchase amount for the private round: 1​ BTC​. Private round discount: 1​ 5% EXMO Coin (EXM) Whitepaper 20 v. 1.0 / July 2019

The private stage of EXMO token placement will be conducted for Bitcoin (BTC) at the following price: price of 1 token = nominal cost of 1 token (in BTC) * (1 - private round discount) Requests will be processed in the order that they are received, depending on the date/time the request was submitted. The purchase of EXMO Coin tokens will be carried out on the basis of a contract for the sale of digital assets, and will occur after getting requests o from a potential buyers. EXMO tokens purchased by the private individual during the private stage will be delivered to the user’s EXMO Wallet. EXM tokens acquired by an individual during the private sale are subjected to be frozen for a period of 6 months from the date of purchase. In the event that that purchase requests during the private round exceed the amount of tokens allocated for private placement, all requests over said amount will be rejected. IEO Public Rounds Following the conclusion of the private round of placement, the remaining amount of tokens allocated for placement will be divided into three equal parts and offered to prospective buyers through three rounds of a public IEO: Stage 1 Stage 2 Stage 3 Dates start: When stop-orders are When the mobile app is 1 August 2019 released released 19:00 (GMT+3) September 2019 October 2019 end: 4 August 2019 19:00 (GMT+3) Token ⅓ of remaining ⅓ of remaining ⅓ of remaining unplaced tokens after unplaced tokens after unplaced tokens after amount the private round, but the private round, but the private round, but no more than no more than no more than 200,000,000 EXM 200,000,000 EXM 200,000,000 EXM Discount 10% 5% 0% EXMO Coin (EXM) Whitepaper 21 v. 1.0 / July 2019

The first exchange EXMO token placement will be conducted for Bitcoin (BTC) at the following price: price of 1 token = nominal cost of 1 token (in BTC) * (1 - placement round discount) The placement price remains constant during the placement round. The placement round will be deemed complete if 25% or more of the planned amount is placed. If the placement round is deemed incomplete (less than 25% of the planned amount is placed), the EXMO Cryptocurrency Platform will buy the placed tokens at their placement price during the round. In the event of incomplete placement, the buyback will take place no more than 30 calendar days from the completion of the round deemed incomplete. The buyback period will last 3 calendar days. All the tokens subject to the buyback will be immediately burned. Locked-up Tokens The primary goal of locking up EXMO tokens is to attract additional financing for the future development of the platform. As such, the EXMO Cryptocurrency Platform considers these assets as reserve for specific-purpose financing of its project program. Following the initial placement of EXMO tokens (private stage and IEO public rounds), the EXMO Cryptocurrency Platform will unlock ⅙ of the locked EXMO tokens every six months, starting from the first half of 2020. Unlocked EXMO tokens will either be offered up for exchange placement on the EXMO Cryptocurrency Platform or burned without placement. In the event of a decision to place an unlocked batch of tokens among buyers on the open market, the EXMO Cryptocurrency Platform undertakes to publish a comprehensive overview of the purpose of such financing (the project, its description, its deadlines). Starting from the first unlocking period and on, the EXMO Cryptocurrency Platform reserves the right to cancel a token placement round. In such a case, the tokens scheduled for placement will be subject to immediate utilization. EXMO Coin (EXM) Whitepaper 22 v. 1.0 / July 2019

Terms of Participation Access to the IEO will be granted to all users of the EXMO Cryptocurrency Platform registered at the start of the IEO that are 18 years or older, as long as the specific user complies with the following conditions: ● the user is not located in nor is a citizen or resident of any restricted jurisdiction listed below; ● the user has not been restricted or prohibited from using EXMO services in the past. Jurisdiction Restrictions Participation in the IEO shall be prohibited for users of the EXMO Cryptocurrency Platform who: ● are U.S. citizens or residents, or a legal entity in which the U.S. citizen's and/or U.S. resident's participation interest is 10% or more; ● are defined by the Office of Foreign Assets Control as a "Special Category Person" or otherwise included in Sanctions Lists in any jurisdiction; ● are on the Prohibited List of the U.S. Department of Commerce; ● are nationals, residents or tax residents of any FATF blacklisted country; ● are citizens, residents and/or tax residents of one of the following jurisdictions: Afghanistan, Albania, Algeria, Australia, Bahamas, Bangladesh, Bolivia, Bosnia and Herzegovina, Botswana, Burundi, Cambodia, Canada, Central African Republic, Cote d'Ivoire, Cuba, Democratic Republic of the Congo, Ecuador, Ethiopia, Ghana, Guinea, Guinea-Bissau, India, Indonesia, Iceland, Iran, Iraq, Hong Kong, Japan, Kosovo, Kyrgyzstan, Laos, Lebanon, Liberia, Libya, People’s Republic of China, Malawi, Malaysia, Mali, Morocco, Mozambique, Myanmar (Burma), Namibia, Nepal, New Zealand, North Korea, Pakistan, Republic of Macedonia (FYROM), Serbia, Somalia, South Sudan, South Korea, Sri Lanka, Sudan, Syria, Tanzania, Thailand, Timor-Leste (East Timor), Trinidad and Tobago, Tunisia, Turkmenistan, Uganda, Uzbekistan, Vanuatu, Venezuela, Vietnam, Yemen, Zimbabwe, or the United States of America (including all of its territories); ● are citizens, residents, and/or tax residents of one of the countries or territories where cryptocurrencies are prohibited or have no legal EXMO Coin (EXM) Whitepaper 23 v. 1.0 / July 2019

status, or where users cannot be admitted to the IEO due to various tax and/or regulatory aspects; ● are on trade or economic sanctions lists, such as the UN Security Council Consolidated List, or if participation in any bidding is restricted or prohibited by the European Union, the Hong Kong Monetary Authority, the Hong Kong Customs and Excise Department, the Office of Foreign Assets Control, or any other administrative law enforcement agency. Participation in the IEO will also be prohibited for users who: ● are citizens or residents of any state, country, territory or other jurisdiction (i) subject to extensive, geographically targeted sanctions by the United Nations, the Monetary Authority of Singapore or OFAC, or which are defined as "call to action" jurisdictions in the list of high-risk jurisdictions and other monitored jurisdictions of the Financial Action Task Force, and/or (ii) subject to U.S. embargoes; ● reside in or are citizens or tax residents of any state, country, territory or other jurisdiction where participation in the IEO would be illegal or otherwise in violation of any applicable law; ● reside in any other jurisdiction in which EXMO, at its sole discretion, has prohibited participation in the IEO, or are citizens or tax residents of such jurisdictions. The Listing Conditions EXMO Coin will be listed 3 days after the completion of the third round of the IEO. EXMO Coin will be added as a trading pair to the most traded cryptocurrencies on the EXMO Cryptocurrency Platform. EXMO Coin (EXM) Whitepaper 24 v. 1.0 / July 2019

Risks Participating in the sale of EXMO Coin, purchasing EXMO Coin and using any services offered by EXMO is fraught with significant risks and potential financial losses, including but not limited to: ● Features, functions, parameters and other qualities of EXMO Coin ("EXMO Coin Qualities"), as well as software, networks, protocols, systems and other technologies (including, if applicable, any blockchain) ("Base Technology") used for administration, creation, issuance, transfer, cancellation, utilization or processing of operations involving EXMO Coin, may be technologically complex or difficult to comprehend or assess. ● EXMO Coin and its Base Technology may be vulnerable to attacks targeting the security, wholeness or functionality of EXMO Coin or its Base Technology ("Attack"), which may include Attacks employing computing power sufficient to suppress normal operation of the blockchain or another Base Technology. ● EXMO Coin, EXMO Coin Qualities or Base Technology may change or in one way or something cease functioning according to expectations due to changes made to the Base Technology, changes made using the features or functions embedded in the Base Technology, or changes brought on by an Attack. These changes may include, without limitation, "changes to the source code" or a "rollback" of EXMO Coin or the blockchain. ● EXMO Coin may be nullified, lost or spent, or lose most or all of its value in some other way as a result of changes to the source code, rollbacks, Attacks, changes to EXMO Coin Qualities or inability of EXMO Coin to function as intended. ● EXMO may pause or reject any order as part of the IEO and/or any other transaction involving EXMO Coin following the conclusion of the IEO, pause or revoke access to services in the interest of complying with applicable laws and regulations, or if instructed by law enforcement or other governmental agencies, as well as other reasons, at the discretion of EXMO. ● EXMO Coin may change in price or lose all of its value due to various factors, including discovery of unlawful behavior, market manipulation, changes to EXMO Coin qualities or presumed value of Token Qualities, Attacks, as well as other factors, including, among other things, factors independent of EXMO. EXMO Coin (EXM) Whitepaper 25 v. 1.0 / July 2019

● EXMO Coin may decrease in price or lose all of its value due to legal or regulatory activity, or other actions made by law enforcement or other governmental bodies. ● Users may be barred from submitting an order request as part of the IEO or to carry out transactions with the token following the completion of the IEO (temporarily or indefinitely), or EXMO may fail to receive a user's order request as part of the IEO or a transaction due to problems with equipment, software or services (including, among other things, connections malfunctions with the Internet or other networks). ● An order request as part of the IEO or a transaction following the completion of the IEO, or any message for EXMO or services may be lost, intercepted or changed during the transfer. ● Unsanctioned third parties may gain access to the user's account or use it and carry out orders as part of the IEO and/or transactions without the user's knowledge or consent, whether by acquiring the password to the user's account opened with us, taking control of some other device or account used by the user in connection with any enhanced security measures linked to the user's account, or by other methods. ● Equally applicable to any other crypto asset, the risks outlined above may result in the loss of EXMO Coin, a drop in or total loss of value of EXMO Coin, inability to gain access or transfer EXMO Coin, inability to trade EXMO Coin, inability to gain financial benefits granted to holders of EXMO Coin, and other financial losses. EXMO Coin (EXM) Whitepaper 26 v. 1.0 / July 2019

EXMO in Mass Media EXMO Coin (EXM) Whitepaper 27 v. 1.0 / July 2019