Render (RENDER) - Crypto Asset Statement

PLEASE READ THIS CAREFULLY. BY PROCEEDING TO TRANSACT IN RENDER, YOU ACKNOWLEDGE AND ACCEPT THE STATEMENTS SET OUT BELOW.

About this Summary

Ndax Canada Inc. (“Ndax”, “we” and “our”) believes that our users should understand the crypto assets that they are able to trade and stake using our crypto trading platform (the “Platform”). One of the crypto assets we offer on the Platform is RENDER. We created this summary to help you understand the basics of RENDER as well as some of the risks involved in trading in RENDER. While we tried to describe the key features of RENDER, this summary isn’t meant to tell you everything you’d want to know before investing in RENDER. You should also do your own research on RENDER to make sure you are comfortable investing in it.

Description of RENDER

History of RENDER

The RENDER Network was conceived to revolutionize the digital content creation industry by leveraging the power of the blockchain. It offers a distributed GPU rendering network, allowing digital artists and studios to access scalable and efficient rendering capabilities.

What is RENDER used for

RENDER serves as the native token within the RENDER Network, facilitating transactions within its ecosystem. It's primarily used to remunerate GPU providers who contribute their computational power for rendering tasks. Furthermore, RENDER streamlines the process of digital content creation, making high-quality rendering accessible and affordable.

How RENDER works

The RENDER Network operates on a decentralized platform where RENDER tokens are exchanged between content creators and GPU providers. Content creators spend RENDER tokens to obtain rendering services, while GPU providers earn RENDER for offering their computational resources. This symbiotic relationship ensures a seamless, secure, and efficient rendering process across the network.

Risks

Before entering into an agreement (a “Crypto Contract”) with Ndax to buy or sell any crypto assets through the Platform, it is important to understand the risks. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

GPU compute demand risk

Demand for RENDER is connected to usage of the Render Network for GPU rendering, artificial intelligence, machine learning, and other compute workloads. Reduced demand for these services could decrease network activity and demand for RENDER.

Technology and market competition risk

Render competes with centralized cloud and GPU infrastructure providers as well as other decentralized compute networks. Improvements in competing services, changes in pricing, or increased availability of alternative compute resources could adversely affect Render Network usage.

Node operator and compute supply risk

The operation of the Render Network depends on attracting and retaining sufficient GPU node operators and compute capacity. Insufficient, geographically concentrated, or otherwise limited compute resources could affect network availability, pricing, performance, or scalability.

Burn-and-Mint economic model risk

Render uses a Burn-Mint Equilibrium under which RENDER may be burned in connection with network usage while new RENDER is distributed through network emissions. Changes in network utilization, emission schedules, incentives, or the balance between token burns and emissions could affect RENDER's supply dynamics and value.

Like other crypto assets, there are some general risks associated with investing in RENDER. Each of these risks are described in more detail in the Risk Statement provided to you at the time that you open your account with us and is also available online on the Ndax website and app. You should review the Risk Statement.

While we have tried to describe the key risks associated with RENDER here and in our Risk Statement, we emphasize that this Crypto Asset Statement is not exhaustive of all of the risks associated with trading in RENDER. You should also do your own research on RENDER to make sure you are comfortable investing in such a crypto asset.

Conflict of Interest Disclosure

Ndax has assessed potential conflicts of interest associated with the offering, and ongoing availability of RENDER through the Platform. As of the date of this statement, Ndax has not identified any actual, material, or reasonably foreseeable conflict of interest that would be expected to impair our ability to act in the best interests of clients or to make fair, objective, and independent decisions regarding RENDER. Ndax maintains policies and procedures designed to identify, manage, and address conflicts of interest on an ongoing basis and will update our disclosures if any material conflict is identified in the future. For additional information about the material conflicts of interest identified by us, please refer to our Conflicts of Interest Statement, the latest version of which can be found on our Website.

Regulatory Information

Ndax is a registered investment dealer under securities legislation in all provinces and territories of Canada, and is a member of the Canadian Investment Regulatory Organization (CIRO) and of the Canadian Investor Protection Fund (CIPF). Ndax is offering Crypto Contracts in reliance on a prospectus exemption contained in the exemptive relief decision Re Ndax Canada Inc. dated December 19, 2024 (found {here}) and under the terms and conditions imposed by CIRO on Ndax’s membership with CIRO (found {here}). Any fiat currency held in users’ accounts is protected by CIPF’s Investment Dealer Fund in accordance with its Coverage Policy. However, CIPF coverage does not extend to any virtual assets held in users accounts. These assets are not eligible for deposit insurance or any protection from the Canada Deposit Insurance Corporation (CDIC) or CIPF.

Please be aware that the statutory rights of action for damages and the right of rescission in the securities legislation of each province and territory of Canada do not apply in respect of a misrepresentation in this Crypto Asset Statement.

Prior to offering a Crypto Contract on RENDER, Ndax assesses whether RENDER is a security and/or a derivative under the securities and derivatives laws of Canada. Ndax’s assessment includes a review of the history of RENDER (such as how it was created and its governance structure), its characteristics, its market capitalization and any regulatory concern regarding RENDER. Based on its assessment, Ndax concluded that RENDER is not a security or a derivative. However, there is a risk that this conclusion could change in the future. In that case, Ndax may be required to halt or withdraw RENDER from trading on the Platform and stop any future trading of Crypto Contracts based on RENDER, and users holding RENDER may be required to liquidate their positions, potentially at a significant loss. In this event, users holding positions in RENDER will be notified via the Platform or other electronic means and advised of the options available to them and any applicable period to sell or withdraw their positions in RENDER.

No Canadian securities regulatory authority has expressed an opinion about RENDER, including an opinion that RENDER is not itself a security and/or derivative.

Last Updated: August 25, 2026