Terms and Conditions - Brokerage Waiver

Effective Date: 6th March, 2026

By utilizing the Lemonn Brokerage Waiver Plan (the “Plan”), You agree to these Terms and Conditions. This document is an electronic record under the Information Technology Act, 2000 and does not need any physical or electronic signatures. The Plan is subject to Terms of Use and Privacy Policy of NU and terms defined therein apply.

1. INTRODUCTION TO THE BROKERAGE WAIVER PLAN

1.1. What is this Plan: If you are a new Client of the Lemonn Platform, you get access to a brokerage waiver of up to INR 5,000/- (Rupees Five Thousand) under the Plan. This Plan is accessible only on the latest version of the Lemonn Mobile app. If you are an existing Client of the Lemonn Platform (Android App version 7.1.33 (2), iOS app version 7.1.3, or earlier) with pre-existing brokerage waiver, your existing plan benefits and structure shall remain unchanged.

1.2. Who is eligible for this Plan:

(i) New Client: Clients who have completed their KYC on or after 6th March 2026. These Clients get access to a brokerage waiver of up to INR 5,000/-.

(ii) Current Client: Clients who have completed their KYC on or after 1st December 2025 and received a Brokerage Waiver of INR 10,000/- and have not yet exhausted their benefits.

1.3. Where is this Plan applicable: This plan is applicable only for Cash and Futures & Options segments against orders placed on the Lemonn Platform. It is not applicable on any other product/service offered on the Lemonn Platform. It cannot be used for any purpose other than brokerage waiver as specified herein.

1.4. Where can I see my Benefits: You will see your Brokerage Waiver amount in your Lemonn Account Wallet. This depiction is a creative way of showing your benefit; the amount is not currency, a PPI, or any other tradable instrument. This Plan will expire on March 31, 2027. Any amount shown as brokerage Waiver in your wallet after this date will be forfeited.

2. BENEFIT STRUCTURE FOR NEW CLIENTS

2.1. Waiver Slabs (Total Waiver capped at INR 5,000):

(i) Slab 1: For the first 25 orders, the Client will get 100% of the brokerage waiver up to INR 20 per order. Capped at INR 500.

(ii) Slab 2: For the next 450 orders, the Client will get 50% of the brokerage waiver up to INR 10 per order. Capped at INR 4,500.

(iii) Post Waiver Benefit: Once the total waiver of INR 5,000 is exhausted, the Client will automatically be shifted to their original Brokerage Plan as per the Account Opening Form.

Example of application of Brokerage Waiver (Assuming INR 5,000 waiver):

1. Slab 1: Brokerage waiver is calculated at 100% (Upto INR 20) of the Brokerage Fee (Until 500 brokerage waiver is exhausted):

Original Brokerage charged = INR 20
Brokerage Waiver at 100% = INR 20
Net Brokerage applicable = 0

2. Slab 2: Brokerage waiver is calculated at 50% (Upto INR 10) of the Brokerage Fee (Until the next 4,500 brokerage waiver is exhausted):

Original Brokerage charged = INR 20
Brokerage Waiver at 50% = INR 10
Net Brokerage applicable = INR 10

3. BENEFIT STRUCTURE FOR CURRENT CLIENTS

3.1. Waiver Slabs (Total Waiver capped at INR 10,000):

(i) Slab 1: For the minimum of 25 orders, the Client will get 100% of the brokerage waiver upto INR 20 per order. The 100% Brokerage Waiver is capped at INR 500.

(ii) Slab 2: For the minimum of next 450 orders, the Client will get 50% of the brokerage waiver upto INR 10 per order. The 50% Brokerage Waiver is capped at INR 4,500.

(iii) Slab 3: For the minimum of next 1250 orders , the Client will get 20% of the brokerage waiver upto INR 4 per order. The 20% Brokerage Waiver is capped at INR 5,000.

3.2. Examples for Current Clients:

Example of application of Brokerage Waiver, assuming 10,000 brokerage waiver is shown in your Lemonn wallet:

1. Slab 1: Brokerage waiver is calculated at 100% (Upto INR 20) of the Brokerage Fee (Until 500 brokerage waiver is exhausted)

Original Brokerage charged = INR 20
Brokerage Waiver at 100% = INR 20
Brokerage applicable = 0

2. Slab 2: Brokerage waiver is calculated at 50% (Upto INR 10) of the Brokerage Fee (Until the next 4,500 brokerage waiver is exhausted)

Original Brokerage charged = INR 20
Brokerage Waiver at 50% = INR 10
Brokerage applicable = INR 10

3. Slab 3: Brokerage waiver is calculated at 20% (Upto INR 4) of the Brokerage Fee (Until the next 5,000 brokerage waiver is exhausted)

Original Brokerage charged = INR. 20
Brokerage Waiver at 20% = INR 4
Brokerage applicable = INR 16

4. GENERAL TERMS AND DISCRETION

4.1. Discretion of NU: The right to use the Brokerage Waiver is subject to the discretion of NU. NU reserves the right to disqualify any Client or change/remove the waiver for an order at any time without prior notice.

4.2. Modifications: NU reserves the right to change the value, eligibility, amounts, or any other aspect of the Plan. NU may terminate the Plan immediately without prior notice.

4.3. Dispute Resolution: In case of any dispute, the decision taken by NU shall be final.

4.4. Risk Disclosure: Investments in the securities market are subject to market risks; read all related documents carefully before investing. This document is not an invitation or persuasion to trade. NU and its affiliates accept no liability for losses arising from actions taken in reliance on this Plan.