Invitation & Activation Token Policy

Invitation & Activation Token Policy How a LABAU invitation works, from issue to activation

1. What an Invitation Token Is An Invitation Token is a single-use credential that grants its holder the ability to activate a LABAU membership. It is the only route to membership \u2014 there is no public sign-up and no application that does not begin with a Token. A Token is not a membership. It is the key that, once used, creates one.

2. Issuance SOURCE

DETAIL

Founder-issued

Issued directly by the Founder at her sole discretion, without limit, reflecting LABAU\u2019s founder-led invitation strategy.

Member-issued

Each active B2C member holds one Token per quarter. It does not accumulate \u2014 an unused quarterly Token expires rather than carrying forward.

Building and hotel

Residential and hotel partnerships do not use individual Tokens. Access is provisioned by residence or room record, per the applicable Partnership Agreement, and is described in Part 5.

Referral sources

Wealth managers, luxury brokers and private clubs referenced in the Company\u2019s goto-market plan do not hold standing Tokens. A referral results in the Founder issuing a Token directly to the named individual.

3. Token Properties · Single-use. A Token is consumed upon successful activation and cannot be used again. · Personal. A Token issued to a named individual may only be activated by that individual. It is not transferable, and the activation flow requires the activating individual\u2019s name to be provided at redemption. · Time-limited. A Token expires ninety (90) days after issuance if not activated. An expired Token is void and cannot be reissued in its original form \u2014 a new Token must be issued. · Revocable. The Founder or an authorized operations team member may revoke an unactivated Token at any time, for any reason, without notice to the intended recipient.

· Traceable. Every Token records its issuer, its issuance date, and \u2014 upon use \u2014 the activating member. This record is retained for the life of the resulting membership and is part of the member\ u2019s enrollment history. · Not a security. A Token confers no economic interest of any kind. It is a credential, not an instrument, and this document does not create any right capable of being bought, sold or traded.

4. The Activation Flow STEP

WHAT HAPPENS

1 \u2014 Receipt

The prospective member receives a Token, typically as a code delivered by the issuer through a private channel \u2014 never a public link.

2 \u2014

The prospective member enters the Token in the LABAU application or website.

Redemption 3 \u2014

The system confirms the Token is unexpired, unrevoked and unused, and that the name provided

Validation

matches the Token\u2019s intended recipient where one was specified.

4 \u2014 Account

The prospective member completes the onboarding flow specified in the Platform Technical

creation

Specification \u2014 identity, style profile, sizes, payment method.

5 \u2014 Payment

The annual membership fee is collected.

6 \u2014

Upon successful payment, the Token is marked consumed and cannot be reused. The membership

Consumption

is now active.

7 \u2014 Card

A physical LABAU membership card is ordered, bearing the next sequential LB number.

issuance

A Token that fails validation at Step 3, or where payment fails at Step 5, is not consumed and remains available for a further attempt until it expires.

5. Building and Hotel Access — Not Token-Based Residential and hotel partnership access does not use the Invitation Token mechanism described above, because it is not issued to a named individual in advance. Access is instead provisioned automatically against a residence or room record, as specified in the Platform Technical Specification and the applicable Partnership Agreement. · Residential: provisioned against the residence list supplied by the property at onboarding \u2014 unit number and occupancy status only, no resident names. · Hotel: provisioned automatically from the property management system at check-in, or by manual activation at the front desk where no PMS connection exists, and deactivated automatically at checkout.

Where a resident or guest wishes to continue as an individual B2C member after their building or hotel relationship ends, a standard Invitation Token is issued by the Founder, and the process in Part 4 applies.

6. Frequently Asked Questions QUESTION

ANSWER

How do I invite someone?

You hold one invitation each quarter. Use it or let it pass \u2014 it does not carry forward.

Can I give my invitation to more

No. It is a single use, and it is personal to the person you name.

than one person? What if they do not use it?

It expires after ninety days. A new one becomes available the following quarter.

Can I take it back?

Yes, at any time before it is used, by telling us.

Is my invitation worth anything I can

No. It carries no value of its own and cannot be bought, sold or traded. It is a way

sell?

in, not an asset.

Building or hotel members \u2014

No. Your access comes from your residence or your stay. If you would like to

do I need an invitation?

continue as a member afterwards, we will issue you one directly.

LABAU Holdings, Inc. \u00B7 kristina@labauholdings.com \u00B7 Confidential