CONSUMER SUMMARY AND RISK NOTICE

This document explains, in plain language, how the IPK Auctions platform operates, what responsibilities belong to IPK, what responsibilities belong to Sellers and Bidders, and the principal risks associated with participation in Auctions conducted through the Platform.

This document does not replace the Auction Terms & Conditions, Bidder Participation Agreement, Fees & Charges Policy or other contractual documents. It is intended to help users understand how the auction process works before participating.

Users should read this document carefully before registering, reviewing auction materials or placing a bid.

1. WHO OPERATES IPK?

The IPK Auctions platform is operated by:

ESCALA GALANTE UNIPESSOAL LDA

IPK operates a digital auction platform that enables Sellers and Buyers to participate in structured online auctions.

2. WHAT IS IPK?

IPK is an auction platform and auction infrastructure provider.

IPK provides

• auction technology;
• electronic bidding systems;
• bidder registration systems;
• identity verification procedures;
• auction administration;
• auction result certification;
• data room infrastructure;
• auction process management.

IPK's role is to facilitate a transparent auction process and identify the highest valid bidder when an Auction concludes.

3. WHAT IPK DOES NOT DO

It is important to understand what IPK does not do.

IPK does not

• provide legal advice;
• provide tax advice;
• provide financial advice;
• provide investment advice;
• provide valuation advice;
• provide conveyancing services;
• provide notarial services;
• receive contractual deposits;
• receive completion monies;
• act as escrow agent;
• guarantee completion of a transaction.

Legal advice should be obtained from a qualified lawyer.

Tax advice should be obtained from a qualified adviser.

Financial and investment decisions remain the responsibility of each participant.

4. HOW THE IPK MODEL WORKS

The IPK model differs from traditional property marketing.

Rather than negotiating privately with multiple prospective buyers over an extended period, a Property is offered through a structured auction process.

Prospective bidders are given access to information about the Property before bidding.

That information may include

• a Property Legal Certificate;
• a Special Conditions Schedule;
• an Agreed-Form CPCV;
• supporting documentation;
• property information;
• disclosures prepared by or on behalf of the Seller.

The objective is to allow prospective bidders to understand the Property and proposed transaction before placing bids.

Following conclusion of the Auction, the highest valid bidder may become the Successful Bidder if the Seller's Reserve has been satisfied or validly released.

The transaction then proceeds through the Seller Lawyer.

5. THE ROLE OF THE SELLER

The Seller is responsible for deciding whether to offer a Property through the Platform.

The Seller determines

• whether a Property is offered for auction;
• the Reserve;
• the information supplied on the Seller's behalf;
• whether special conditions apply to the transaction.

The Seller remains responsible for decisions relating to the sale of the Property.

6. THE ROLE OF THE PARTNER AGENCY

Properties offered through the Platform are generally introduced and marketed by a licensed real estate mediation company ("Partner Agency").

The Partner Agency remains responsible for its own marketing activities and regulatory obligations.

The Partner Agency is not replaced by IPK.

The auction process operates alongside the Partner Agency's involvement.

7. THE ROLE OF THE SELLER LAWYER

The Seller Lawyer plays an important role within the IPK process.

The Seller Lawyer may be responsible for:

• preparation or approval of the Property Legal Certificate;
• preparation or approval of the Special Conditions Schedule;
• preparation or approval of the Agreed-Form CPCV;
• transaction administration following the Auction;
• coordination of legal documentation;
• receipt of contractual deposits;
• implementation of the transaction following identification of a Successful Bidder.

The Seller Lawyer is not appointed by IPK.

The Seller Lawyer acts for the Seller.

8. THE AUCTION JOURNEY

The typical auction process consists of the following stages:

Stage 1 – Property Preparation

The Seller, Partner Agency and Seller Lawyer prepare the Property for auction.

Relevant information and documentation are assembled.

Stage 2 – Publication

The Property is published on the Platform.

Prospective bidders may review available information.

Stage 3 – Bidder Registration

Prospective bidders register on the Platform and complete onboarding requirements.

These may include identity verification and payment method verification.

Stage 4 – Due Diligence

Prospective bidders review the available information and obtain professional advice where required.

Stage 5 – Auction

Approved bidders submit bids through the Platform.

The Auction remains open until the scheduled closing time, subject to any extension mechanisms.

Stage 6 – Successful Bidder Identification

Following conclusion of the Auction, the highest valid bidder may become the Successful Bidder.

Stage 7 – Seller Lawyer Process

The Seller Lawyer contacts the Successful Bidder and coordinates implementation of the transaction.

Stage 8 – Agreed-Form CPCV

The parties proceed towards execution of the Agreed-Form CPCV.

Stage 9 – Completion

The parties proceed towards completion of the transaction in accordance with the Agreed-Form CPCV and other applicable arrangements.

9. BEFORE YOU BID

Participation in an Auction should only occur after careful consideration.

Before bidding, users should

• review the available documentation;
• consider obtaining legal advice;
• consider obtaining tax advice;
• consider financing requirements;
• consider the suitability of the Property;
• understand the applicable fees.

Users should not assume that additional opportunities for investigation or renegotiation will arise after the Auction.

The auction process is designed so that key information is reviewed before bidding.

10. IMPORTANT PRINCIPLE

The IPK model is based on the principle that due diligence occurs before bidding.

For that reason, bidders are encouraged to review available documentation carefully and seek professional advice before participating.

Becoming the Successful Bidder should not be viewed as the start of negotiations.

The auction process is intended to identify a buyer who is ready to proceed with implementation of the transaction following conclusion of the Auction.

11. THE CONTRACTUAL DISCLOSURE PACKAGE

For each Property, IPK may make available a Contractual Disclosure Package.

This is the collection of information and documents intended to help prospective bidders understand the Property and the proposed transaction before bidding.

The Contractual Disclosure Package may include:

• the Property Legal Certificate;
• the Special Conditions Schedule;
• the Agreed-Form CPCV;
• supporting documents;
• seller disclosures;
• auction information;
• addenda or updates.

The Contractual Disclosure Package may vary from Property to Property.

Users should not bid unless they have reviewed the available information and are comfortable proceeding.

12. PROPERTY LEGAL CERTIFICATE

The Property Legal Certificate is a structured legal summary prepared or approved by the Seller Lawyer.

It is intended to summarise key legal information about the Property.

It may cover matters such as:

• property identification;
• land registry information;
• title matters;
• known encumbrances;
• planning or licensing information;
• occupation status;
• tenancy matters;
• condominium matters;
• litigation matters;
• special legal observations.

The Property Legal Certificate is intended to make the legal information easier to understand.

It does not replace independent legal advice.

13. SPECIAL CONDITIONS SCHEDULE

Some Properties may be offered subject to a Special Conditions Schedule.

The Special Conditions Schedule may contain property-specific disclosures and transaction conditions.

It may address matters such as:

• title issues;
• planning matters;
• licensing matters;
• occupation or tenancy matters;
• completion requirements;
• special contractual provisions;
• matters that affect how the transaction should proceed.

Prospective bidders should read the Special Conditions Schedule carefully before bidding.

14. AGREED-FORM CPCV

The Agreed-Form CPCV is the form of promissory purchase and sale agreement intended to be signed by the Seller and the Successful Bidder after conclusion of the Auction.

It is prepared or approved by the Seller Lawyer.

The Agreed-Form CPCV is made available before bidding so that prospective bidders can understand the contractual framework they may be expected to enter into if they become the Successful Bidder.

Users should not bid unless they have reviewed the Agreed-Form CPCV and are comfortable proceeding on that basis.

15. REDACTED DOCUMENTS

Some documents may be redacted before being made available to bidders.

Redactions may be made for

• privacy;
• data protection;
• security;
• confidentiality;
• anti-circumvention purposes.

Redacted information may include

• seller names;
• personal addresses;
• taxpayer numbers;
• signatures;
• personal contact details;
• bank account details;
• identity document information.

Redaction is intended to protect privacy and security.

The fact that a document is redacted does not necessarily mean that important Property information has been withheld.

Where information is required to implement the transaction after the Auction, it may be provided through the Seller Lawyer.

16. COMPARABLE MARKET RANGE

Some Property pages may display a Comparable Market Range.

A Comparable Market Range is an indicative market context range derived from pricing information relating to broadly comparable properties within the same geographic area, asset class and market segment.

The Comparable Market Range is provided solely for general market context and information purposes.

Bidders remain responsible for forming their own view of value.

IPK does not provide valuation advice.

17. RESERVE

A Property may be offered subject to a confidential Reserve.

The Reserve is the minimum sale threshold set by the Seller.

The Reserve is normally confidential unless expressly disclosed.

A Successful Bidder will only be established if the Reserve has been satisfied or validly released.

IPK does not independently set, reduce or release the Reserve.

18. BIDDING

Only approved bidders may participate in Auctions.

Bids should be genuine and serious.

Users must not submit false, speculative, collusive or manipulative bids.

Bids are recorded by the Platform.

Auction records, timestamps and audit trails may be retained by IPK.

19. AUCTION EXTENSIONS

Some Auctions may use automatic extension mechanisms.

These are sometimes referred to as anti-sniping or soft-close rules.

They are intended to prevent last-second bidding from unfairly disrupting the Auction.

The applicable extension rules will be shown on the relevant auction page.

20. SUCCESSFUL BUYER STATUS

A Successful Bidder is established when the Auction closes, the highest valid bid is identified, and the Reserve has been satisfied or validly released.

Becoming the Successful Bidder is a serious event.

It may trigger

• payment of applicable IPK fees;
• post-auction obligations;
• engagement with the Seller Lawyer;
• the process for signing the Agreed-Form CPCV.

The Successful Bidder should be ready to proceed promptly.

21. WHAT HAPPENS AFTER THE AUCTION?

After a Successful Bidder is established:

• IPK may issue an Auction Result Certificate;
• the Successful Bidder's details may be provided to the Seller Lawyer;
• the Seller Lawyer may contact the Successful Bidder;
• the parties proceed towards execution of the Agreed-Form CPCV;
• the contractual deposit is paid according to the Agreed-Form CPCV and the Seller Lawyer's instructions;
• completion is handled outside the IPK Platform.

IPK does not handle the contractual deposit.

IPK does not receive completion monies.

IPK does not conduct conveyancing.

22. SUCCESSFUL BUYER INFRASTRUCTURE FEE

A Successful Bidder Infrastructure Fee may be payable by the Successful Bidder.

The current amount and payment rules are set out in the Fees & Charges Policy.

The fee becomes earned immediately when Successful Bidder status is established.

The fee is separate from

• the purchase price;
• the contractual deposit;
• taxes;
• notarial costs;
• legal fees;
• any other transaction costs.

Users should read the Fees & Charges Policy before bidding.

23. PAYMENT AUTHORISATION

Bidders may be required to provide a payment method before participating.

This may include a card authorisation or similar payment authorisation.

The purpose is to support collection of fees properly payable under the Fees & Charges Policy.

Payment authorisation is not payment of the contractual deposit.

The contractual deposit is paid to the Seller Lawyer or as otherwise specified in the Agreed-Form CPCV.

24. IMPORTANT RISKS OF AUCTION PARTICIPATION

Auction participation involves risk.

Important risks include

• the risk of bidding more than intended;
• the risk of failing to obtain finance;
• the risk of misunderstanding legal documents;
• the risk of not completing due diligence before bidding;
• the risk that the transaction does not complete;
• the risk of losing fees properly earned by IPK;
• the risk of being excluded from future Auctions if obligations are not respected.

Users should not participate unless they understand these risks.

25. FINANCING RISK

Financing is the Bidder's responsibility.

Users should not bid unless they have considered how they will fund the transaction.

Failure to obtain finance after becoming the Successful Bidder may not release the Successful Bidder from obligations under the auction framework.

IPK does not verify that a Bidder has sufficient funds to complete a purchase.

26. LEGAL RISK

Property transactions may involve legal risks.

These may relate to

• title;
• planning;
• licensing;
• occupation;
• tenancy;
• condominium matters;
• taxes;
• completion requirements.

Users should obtain legal advice before bidding where appropriate.

27. TRANSACTION COMPLETION RISK

IPK does not guarantee that a transaction will complete.

A transaction may fail to complete for many reasons, including:

• bidder default;
• seller default;
• financing failure;
• AML/KYC issues;
• legal issues;
• practical completion issues;
• failure to execute transaction documentation.

Auction participation should be understood as a process intended to identify a Successful Bidder, not as a guarantee of completed sale.

28. AML/KYC RISK

IPK may conduct onboarding, identity verification, sanctions screening or fraud-prevention checks.

These procedures do not replace transaction AML/KYC checks carried out by lawyers, banks, notaries or other regulated professionals.

The Successful Bidder may be required to provide further information to the Seller Lawyer or other regulated professionals after the Auction.

Failure to satisfy transaction AML/KYC requirements may affect the transaction.

29. NO GUARANTEE OF OTHER PARTICIPANTS

IPK does not guarantee

• the financial capability of any bidder;
• the intention of any bidder;
• the ability of any bidder to complete;
• the Seller's future conduct;
• transaction completion.

The Platform is designed to operate a structured auction process, not to guarantee the commercial outcome of the transaction.

30. BACKUP BIDDER POSSIBILITY

Where applicable, IPK or the Seller may identify a Backup Bidder.

If the Successful Bidder does not proceed, the Seller may choose to pursue a Backup Bidder or another sale process.

This is intended to reduce disruption where a transaction does not proceed.

31. DATA PROTECTION

IPK processes personal data in connection with operation of the Platform and administration of Auctions.

Personal data may include

• identification information;
• contact details;
• verification information;
• bidding records;
• payment authorisation information;
• communication records;
• technical usage information.

Personal data is processed in accordance with applicable data protection legislation and the IPK Privacy Policy.

Users should review the Privacy Policy for further information regarding:

• lawful basis of processing;
• data retention;
• international transfers;
• data subject rights;
• complaints relating to data protection.

32. SHARING OF INFORMATION

To operate the auction process, IPK may share information with:

• Sellers;
• Seller Lawyers;
• Partner Agencies;
• identity verification providers;
• payment service providers;
• fraud prevention providers;
• professional advisers;
• regulatory authorities where required by law.

Where a user becomes the Successful Bidder, relevant information may be provided to the Seller and Seller Lawyer to facilitate implementation of the transaction.

33. ELECTRONIC COMMUNICATIONS

The IPK Platform operates primarily through electronic communications.

Users should ensure that

• email addresses remain current;
• spam filters do not block communications;
• important notifications are monitored;
• contact details remain accurate.

Failure to monitor communications may affect participation in Auctions or post-auction processes.

34. RECORDS AND AUDIT TRAILS

IPK may maintain records relating to:

• account registration;
• identity verification;
• bidding activity;
• auction participation;
• payment authorisations;
• communications;
• Auction Result Certificates;
• Platform activity.

These records help protect auction integrity and may be relied upon in the event of disputes, investigations or regulatory enquiries.

35. COMPLAINTS

IPK is committed to fair and transparent operation of the Platform.

If a user wishes to make a complaint, the complaint should be submitted to:

complaints@ipk.pt

Where possible, complaints should include

• the user's name;
• account details;
• auction reference;
• property reference;
• a clear description of the issue;
• supporting documentation.

IPK will review complaints in accordance with its Complaints Procedure & Consumer Redress Policy.

36. PORTUGUESE ELECTRONIC COMPLAINTS BOOK

Where applicable, consumers may also use the Portuguese Electronic Complaints Book (Livro de Reclamações Eletrónico).

Information regarding the Electronic Complaints Book is available through the official Portuguese government platform.

The availability of the Electronic Complaints Book does not prevent users from contacting IPK directly.

37. CONSUMER RIGHTS

Nothing within the IPK auction framework is intended to remove or restrict mandatory consumer rights that apply under Portuguese law.

Where mandatory consumer protection legislation applies, those legal protections remain available.

Consumers should be aware that the nature of auction transactions may differ from ordinary online consumer purchases.

Users should obtain independent advice if they are uncertain about their rights or obligations.

38. THIRD-PARTY PROFESSIONAL ADVICE

IPK strongly encourages users to obtain professional advice where appropriate.

Depending on the circumstances, users may wish to consult:

• lawyers;
• tax advisers;
• accountants;
• architects;
• engineers;
• surveyors;
• mortgage advisers;
• financial advisers.

Participation in an Auction should be based upon informed decision-making.

39. WHAT MAKES THE IPK MODEL DIFFERENT?

The IPK model is designed around the principle that important information should be made available before bidding rather than after bidding.

Accordingly

• legal information is provided before the Auction where available;
• transaction documentation is made available before bidding where available;
• bidders are encouraged to undertake due diligence before participating;
• the Seller Lawyer becomes involved immediately following establishment of a Successful Bidder.

The objective is to promote transparency, efficiency and informed participation.

40. WHAT IPK DOES NOT GUARANTEE

Users should understand that IPK does not guarantee:

• that a Property will sell;
• that a bid will be successful;
• that a Seller will proceed;
• that a Successful Bidder will proceed;
• that financing will be available;
• that transaction documents will be executed;
• that a transaction will complete;
• that a Property is suitable for a particular purpose;
• that a Property represents good value;
• that information supplied by third parties is free from error.

IPK provides auction infrastructure and related services.

Commercial decisions remain the responsibility of the parties involved in the transaction.

41. IMPORTANT REMINDER FOR BIDDERS

Before bidding, users should ensure that they:

• have reviewed the available documentation;
• understand the Property;
• understand the applicable fees;
• understand the Agreed-Form CPCV;
• have considered financing requirements;
• have obtained professional advice where appropriate;
• are prepared to proceed if they become the Successful Bidder.

Users should not bid casually or speculatively.

42. IMPORTANT REMINDER FOR SELLERS

Before offering a Property through the Platform, Sellers should ensure that:

• the Property is ready for auction;
• a Seller Lawyer has been appointed;
• the Contractual Disclosure Package has been prepared;
• the Agreed-Form CPCV has been prepared or approved;
• the information supplied is accurate to the best of their knowledge.

The effectiveness of the auction process depends upon preparation before the Auction.

43. REGULATORY COMPLIANCE

IPK seeks to operate in accordance with the legal and regulatory framework applicable to auction activity in Portugal.

Users may be required to cooperate with reasonable compliance procedures implemented by IPK.

Such procedures are intended to support:

• auction integrity;
• fraud prevention;
• regulatory compliance;
• operational security.

44. CHANGES TO THIS DOCUMENT

IPK may update this Consumer Summary & Risk Notice from time to time.

The latest version will be made available through the Platform.

Users should review the current version before participating in Auctions.

45. CONTACT DETAILS

46. FINAL OBSERVATION

Property auctions involve important legal and financial decisions.

Users should participate only after careful consideration of the available information and, where appropriate, after obtaining professional advice.

The purpose of the IPK auction framework is to provide a transparent and structured process through which Sellers and Buyers can engage efficiently.

Participation should always be informed, considered and undertaken in good faith.

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