Gold Savings Program Terms & Conditions

Parhelia Pte Ltd

Effective Date: 01 July 2026
Last Updated: 15 August 2026

These Gold Savings Program Terms and Conditions (“Terms”) govern your participation in the Gold Savings Program (“Program”) offered by Parhelia Pte. Ltd. (“Parhelia”, “Company”, “we”, “us” or “our”).

By opening or maintaining a Gold Savings Program account, purchasing gold through the Program, or requesting the sale or physical redemption of gold, you acknowledge that you have read, understood and agreed to these Terms.

1. About the Gold Savings Program

The Gold Savings Program allows customers to purchase and accumulate 999.9 fine gold by weight in grams.

Gold purchased by a customer will be recorded in the customer's Gold Savings Program account to four (4) decimal places.

For example:

Gold Balance: 25.5000 grams of 999.9 gold

The customer's account records the quantity of gold to which the customer is entitled under the Program, subject to these Terms.

The Program does not provide any fixed interest, dividend, investment yield or guaranteed return.

2. Gold Savings Program Account

Customers must complete the Company's applicable registration, identification and verification requirements before participating in the Program.

Customers are responsible for ensuring that all information provided to the Company is accurate, complete and current.

The Company may request additional identification, source of funds, source of wealth, beneficial ownership or transaction information where reasonably required for legal, regulatory, compliance or risk-management purposes.

3. Purchasing Gold

Customers may purchase gold under the Program subject to the Company's prevailing minimum purchase requirements.

The amount of gold credited to the customer's account will be calculated according to the Company's applicable Gold Savings Program selling price at the time the transaction is accepted and confirmed.

Gold will generally be credited after:

- the Company accepts the transaction;
- cleared funds have been received; and
- any applicable verification or compliance requirements have been completed.

The Company's selling price may include an applicable spread, premium or other disclosed charges.

4. Gold Balance & Certificate

The Company may issue customers with a physical or electronic Gold Savings Program Certificate confirming their recorded gold balance.

A certificate may include:

- Certificate Number
- Customer Name
- Account or Reference Number
- Gold Purity
- Gold Balance
- Date of Issue
- Authorised Company Representative or Digital Authentication

Each certificate will confirm substantially the following:

This Certificate confirms that the customer's Gold Savings Program account maintained with Parhelia Pte Ltd records an entitlement of XX.0000 grams of 999.9 gold, subject to the Gold Savings Program Terms and Conditions.

A certificate represents the customer's recorded gold entitlement as at the stated date and time.

Unless specifically stated otherwise, a certificate does not represent ownership of a particular serial-numbered or individually identified physical gold bar.

Where subsequent transactions have occurred, the Company's latest reconciled account records will determine the customer's current gold balance.

5. Physical Gold Backing

Gold credited to customers under the Gold Savings Program is backed by physical investment-grade gold maintained by the Company, subject to the allocation, custody and reconciliation provisions contained in these Terms.

The Company will maintain records of:

- total customer gold balances;
- physical gold maintained in support of the Program;
- gold purchases;
- customer sales;
- physical redemptions; and
- relevant inventory adjustments.

Physical gold supporting the Program may be held in denominations different from individual customer balances.

For example, a customer holding 25.0000 grams does not necessarily have a specific 25-gram gold bar individually assigned to that customer.

Unless otherwise expressly stated, physical gold may be maintained on a pooled basis, with each customer's entitlement separately recorded in the Company's records.

6. Custody & Storage

Physical gold supporting the Program may be maintained at:

- the Company's secured premises;
- an approved secure vault;
- an approved bullion custodian; or
- another secure custody or storage facility selected by the Company.

The Company will apply reasonable commercial security, inventory-control and record-keeping procedures to physical gold maintained under the Program.

The Company may change its custody or storage arrangements where reasonably required for operational, security or commercial purposes.

7. Gold Reconciliation

The Company will conduct periodic reconciliation between:

Total customer gold balances

and

Physical gold maintained in support of the Gold Savings Program.

Any material discrepancy identified through the reconciliation process will be investigated and addressed in accordance with the Company's internal controls and applicable requirements.

The Company will maintain appropriate records relating to the acquisition, custody, movement and disposition of physical gold supporting the Program.

8. Gold Prices & Valuation

Gold prices fluctuate according to international and domestic market conditions.

The Company's buying price and selling price may differ and may include a spread, premium or applicable charges.

Any SGD valuation displayed on a certificate, statement, website or customer account is indicative unless the Company expressly confirms it as a transaction price.

Customers acknowledge that:

The SGD value of the gold balance fluctuates according to prevailing gold prices and the Company's applicable buying and selling prices. No fixed investment return, interest or appreciation is guaranteed.

The value of gold may increase or decrease, and customers may receive less when selling their gold than the amount originally paid.

9. Selling Gold

Customers may request to sell all or part of their available gold balance to the Company, subject to these Terms.

The sale value will be calculated according to the Company's applicable Gold Savings Program buying price at the time the transaction is accepted and confirmed.

Any applicable fees, charges or other amounts payable may be deducted from the proceeds.

A displayed or quoted price does not constitute a completed transaction until the sale has been accepted and confirmed by the Company.

Payment will be made through a payment method accepted by the Company and may be subject to identity, bank account and compliance verification.

10. Physical Gold Redemption

Customers may request to convert eligible Gold Savings Program balances into physical bullion.

Physical redemption is subject to:

- sufficient available gold balance;
- the Company's minimum redemption denomination;
- availability of the requested bullion product;
- available bullion denominations;
- applicable fabrication charges;
- applicable bullion premiums;
- administrative, collection or delivery charges where applicable; and
- completion of applicable verification requirements.

Customers acknowledge that:

Physical redemption is subject to the minimum redemption denomination, availability of bullion products, applicable fabrication/premium charges and the Company's prevailing Gold Savings Program Terms and Conditions.

If the customer's gold balance does not correspond exactly with an available bullion denomination, the Company may allow the customer to:

- redeem the nearest eligible denomination and retain the remaining balance in the account;
- purchase additional gold to meet the required denomination; or
- select another available bullion product or denomination.

Once physical redemption has been completed, the corresponding quantity of gold will be deducted from the customer's Gold Savings Program account.

11. Fees, Premiums & Charges

The Company may impose applicable fees or charges relating to the Program, including:

- buying and selling spreads;
- bullion premiums;
- fabrication charges;
- physical redemption charges;
- administrative charges;
- collection or delivery charges; and
- other charges disclosed before the relevant transaction.

Applicable fees, premiums and charges may change from time to time.

Where applicable, customers will be informed of the relevant charges before confirming a transaction.

12. No Guaranteed Returns

Participation in the Gold Savings Program involves exposure to movements in gold prices.

Parhelia Pte Ltd does not guarantee:

- an increase in gold prices;
- a minimum future SGD value;
- any fixed investment return;
- interest;
- dividends; or
- guaranteed capital appreciation or profit.

Customers are responsible for deciding whether to purchase, hold, sell or physically redeem their gold.

Past movements in gold prices are not an indication or guarantee of future performance.

13. Customer & Transaction Verification

The Company may conduct customer due diligence, identity verification, transaction monitoring and other compliance procedures where applicable.

Customers may be required to provide additional information concerning:

- identity;
- beneficial ownership;
- source of funds;
- source of wealth;
- payment methods;
- transaction purpose; or
- other information reasonably required by the Company.

The Company may delay, suspend, reject or refuse a transaction where reasonably necessary to comply with applicable Singapore laws, regulatory requirements, court orders, sanctions requirements or lawful requests from competent authorities.

14. Account Records

The Company will maintain records of customer purchases, sales, redemptions and gold balances.

Customers should review their transaction confirmations, statements and certificates and promptly notify the Company of any suspected discrepancy.

The Company may correct genuine clerical, calculation, system, pricing or recording errors and provide an updated record where appropriate.

Subject to manifest error, the Company's latest reconciled records will be used to determine the customer's Program balance.

15. Transfers

Gold balances may not be assigned, pledged or transferred to another person unless the Company expressly permits such transfer.

Any permitted transfer may be subject to identity verification, compliance checks, documentation and applicable charges.

16. Death or Incapacity

In the event of a customer's death or legal incapacity, the Company may suspend transactions until satisfactory documentation establishing the authority of the customer's lawful representative has been provided.

The Company may require probate documents, letters of administration, court orders, identification documents or other supporting documentation before releasing or transferring the gold balance.

17. Suspension or Termination

The Company may suspend or terminate a customer's participation in the Program where reasonably necessary because of:

- breach of these Terms;
- suspected fraud or unauthorised activity;
- inability to verify required customer information;
- legal or regulatory requirements;
- failure to provide requested compliance information; or
- material legal, compliance, security or operational risks.

Where legally permissible, customers will be provided with reasonable instructions concerning their remaining gold balance.

18. Changes or Discontinuation of the Program

The Company may modify, suspend or discontinue the Program where reasonably necessary due to changes in law, regulatory requirements, bullion supply, market conditions, custody arrangements, technology, security requirements or business operations.

Where the Program is permanently discontinued, the Company will, subject to applicable requirements, provide reasonable arrangements for customers to sell or physically redeem eligible remaining gold balances.

19. Limitation of Liability

Nothing in these Terms excludes liability that cannot lawfully be excluded under Singapore law.

The Company is not responsible for losses resulting solely from normal fluctuations in gold prices or a customer's decision to purchase, hold, sell or redeem gold.

The Company will not be responsible for delays caused by circumstances outside its reasonable control, including market disruptions, payment-system failures, telecommunications outages, natural disasters, government restrictions or disruptions affecting bullion markets, suppliers or logistics.

Nothing in this section removes the Company's obligations relating to customer records, physical gold backing, custody and reconciliation expressly undertaken under these Terms.

20. Personal Data

The Company may collect, use, disclose and process personal information for purposes including:

- administering the Gold Savings Program;
- processing transactions;
- maintaining customer records;
- verifying customer identity;
- preventing fraud;
- fulfilling legal and compliance obligations; and
- communicating with customers.

Personal information will be handled in accordance with applicable Singapore data-protection requirements and the Company's prevailing privacy policy.

21. Changes to These Terms

The Company may amend these Terms from time to time where reasonably necessary for legal, regulatory, operational, security or commercial purposes.

Material changes affecting existing customers will be communicated through an appropriate channel, which may include the Company's website, email, account notification or other written communication.

The latest version published by the Company will state its effective date.

22. Governing Law

These Terms are governed by and construed in accordance with the laws of the Republic of Singapore.

Any dispute arising from or relating to the Gold Savings Program or these Terms will be subject to the jurisdiction of the courts of Singapore, unless another dispute-resolution procedure has been separately agreed in writing.

Important Gold Savings Program Disclosure

Before participating in the Gold Savings Program, customers should understand the following:

Gold Entitlement

Your Gold Savings Program account records your entitlement to a specified quantity of 999.9 gold, measured in grams.

Physical Gold Backing

Gold credited to customers under the Gold Savings Program is backed by physical investment-grade gold maintained by Parhelia Pte Ltd, subject to the allocation, custody and reconciliation provisions contained in these Terms.

Gold Prices Can Rise or Fall

The SGD value of your gold balance fluctuates according to prevailing gold prices and Parhelia Pte Ltd's applicable buying and selling prices.

No Guaranteed Returns

There is no guaranteed interest, investment return, profit or appreciation under the Gold Savings Program.

Physical Redemption Conditions Apply

Physical redemption is subject to minimum redemption denominations, bullion availability and applicable fabrication, premium and other charges.