Allocated Gold Storage and Vault Placement Process

• The vault operator establishes an allocated gold account in the Customer’s name for maintaining physical custody of gold.
• Gold balances are recorded in fine troy ounces to three decimal places (and other metals per their own unit conventions when applicable).
• Sub-accounts may be established in the Customer’s name on request, with the account holder remaining the Customer entity.

• Metal credited to the allocated account remains the property of the Customer at all times.
• The vault operator maintains physical segregation of allocated metal from assets recorded for other parties.
• The segregation model is enforced through specific identification of bars and controlled inventory handling at the facility level.

• Deposit and withdrawal instructions use a bar list as the primary asset identification input.
• The bar list specifies, per bar: bar number, brand, weight, fineness, and fine/gross weight fields for gold.
• Non-bar form instructions use seal and content descriptors where applicable.

• Deposits are initiated by written notice specifying quantity and delivery date.
• Written notice is provided at least two business days prior to the delivery date.
• On the delivery date the facility takes possession, issues a written receipt, and credits the allocated account concurrently.

Withdrawal:
• Initiated by written notice specifying quantity and withdrawal date, supported by a withdrawal bar list.
• Instructions include carrier / representative identification details required for release.
• The facility confirms withdrawal instructions by contacting an authorized person from the Customer’s authorized persons list.
• On the withdrawal date the facility releases metal to the designated carrier/representative and obtains a written receipt.

• Vault operator liability commences when the facility takes possession and signs a receipt for the metal.
• Vault operator liability terminates upon release to a carrier/authorized person with a receipt, or upon an account-to-account transfer entry in the facility’s record system.
• Transportation is governed under a separate transport agreement when metal is moved by any carrier, including the vault operator or its affiliates acting as carrier.

• Each gold bar is identified by its unique bar serial number.
• Refiner mark and fineness are recorded as part of the identification dataset.
• Gross weight and fine weight are specified in accordance with operator recording standards.
• The identification dataset forms the basis of the allocation record.

• Allocation occurs when specific bars are credited to the allocated account maintained in the Customer’s name.
• The vault operator records the bar list within its internal inventory control system.
• The allocation record links the physical bar identifiers to the account reference.
• The allocation event forms part of the transaction evidence set.

• Allocated bars are held under a segregated control structure within the facility.
• Segregation is enforced through controlled access procedures and inventory reconciliation protocols.
• Allocated metal is not recorded as inventory of the vault operator.
• Physical handling is governed by the operator’s facility procedures.

• Inventory reconciliation is performed under the vault operator’s internal control framework.
• Bar-level data remains consistent between allocation records and facility inventory records.
• Any transfer between accounts is reflected as a record entry within the operator’s system.
• Account statements reflect allocated balances in defined weight units.

• Vault operator liability commences at the moment the facility takes physical possession of the metal and issues a written receipt confirming acceptance.
• Liability remains in effect while the metal is held within the allocated account structure at the facility.
• Liability terminates upon release of the metal to a designated carrier or authorized representative against written receipt.
• Liability also terminates upon an account-to-account transfer entry recorded within the vault operator’s inventory control system.
• Responsibility during transportation is governed under a separate transport agreement, including where the vault operator or its affiliate acts as carrier under distinct contractual terms.

• Vault operator liability is subject to facility-level maximum limits defined in the applicable storage agreement.
• The maximum liability amount applies per facility and per day.
• The liability cap defines the upper boundary of operator responsibility for physical loss, damage, or destruction while metal is held within the facility.
• Liability limits operate independently of the total aggregate value of metal recorded within the allocated account.

• In the event of verified loss, damage, or destruction of metal held in the allocated account, reimbursement is determined based on market value.
• Market value is calculated using the spot price reference published by the London Bullion Market Association on the defined valuation date.
• The valuation amount is multiplied by the declared fine troy ounce quantity recorded in the allocated account.
• Valuation applies strictly to quantities recorded within the operator’s account system at the time of the loss event.

• The vault operator maintains insurance coverage corresponding to risks assumed under the storage agreement.
• The vault operator is not an insurer and does not underwrite market price risk or investment performance.
• Insurance coverage applies to defined physical custody risks within contractual limits.
• Insurance terms and exclusions are governed by the operator’s policy structure.

Brink’s maintains insurance for the risks it assumes under the storage agreement, subject to the agreement terms, liability limits, and exclusions. Evidence of insurance may be provided by certificate on request. Transport insurance, where applicable, follows the relevant shipment arrangement and carrier framework.

Allocated storage remains subject to AML, KYC, sanctions screening, and client-identification procedures before onboarding and before transaction execution. Account, shipment, and transaction records are treated as confidential, except where disclosure is required by law, regulation, court order, or written client instruction.