Common use of Making A Payment Clause in Contracts

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm the following local cut off times on a Business DayDay for accounts registered in the following countries: 4pm in Netherlands. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s 's you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm Irish local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t n't open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm Spanish local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm Swiss local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:: • You authorize the named recipient(s) to collect payments from your account as the recipient determines (this could be for payments of amounts you owe the recipient for a purchase of goods or services under a separate contract that you have with the recipient). • You instruct PayPal to pay the named recipient(s) (or other recipient(s) that the named recipient(s) direct(s)) when the named recipient(s) request(s) PayPal to make your payment. This makes the recipient a “trusted beneficiary” of all your payments made to that recipient, so we will not normally ask you to authenticate (e.g. log in) or approve these payments when they are made. Payments made under the billing agreement may be in variable amounts and may be made on various dates. We are only a payment service provider so we can’t (and please don’t expect us to) know what you have or haven’t agreed with the recipient or to know why the recipient decided to collect your payment. We are not obliged to verify or confirm the amount the recipient presents to us for the purpose of processing payments made under the billing agreement. We use several names for payments that can be managed by a billing agreement – these

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm on a Business DayAfter 2.00pm local Danish time. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • instruction on a day which is not a Business Day; or • after 4 pm on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “"Send Money” " feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s 's you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or • after 4 pm After 4:00pm Norwegian local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t n't open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or • after 4 pm After 3.00pm Portuguese local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the The payment exceeds the sending limit we tell you about when you try to make the payment; or • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm Austrian local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:: • You authorize the named recipient(s) to collect payments from your account as the recipient determines (this could be for payments of amounts you owe the recipient for a purchase of goods or services under a separate contract that you have with the recipient). • You instruct PayPal to pay the named recipient(s) (or other recipient(s) that the named recipient(s) direct(s)) when the named recipient(s) request(s) PayPal to make your payment. This makes the recipient a “trusted beneficiary” of all your payments made to that recipient, so we will not normally ask you to login (with password, PIN or similar) to approve these subsequent payments when they are made. Payments made under the billing agreement may be in variable amounts and may be made on various dates. We are only a payment service provider so we can’t (and please don’t expect us to) know what you have or haven’t agreed with the recipient or to know why the recipient decided to collect your payment. We are not obliged to verify or confirm the amount the recipient presents to us for the purpose of processing payments made under the billing agreement.

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business DayDays; or • after 4 pm After 4.00pm Belgian local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:: • You authorize the named recipient(s) to collect payments from your account as the recipient determines (this could be for payments of amounts you owe the recipient for a purchase of goods or services under a separate contract that you have with the recipient); and • You instruct PayPal to pay the named recipient(s) (or other recipient(s) that the named recipient(s) direct(s)) when the named recipient(s) request(s) PayPal to make your payment. This makes the recipient a “trusted beneficiary” of all your payments made to that recipient, so we will not normally ask you to login (with password, PIN or similar) to approve these subsequent payments when they are made. Payments made under the billing agreement may be in variable amounts and may be made on various dates. We are only a payment service provider so we can’t (and please don’t expect us to) know what you have or haven’t agreed with the recipient or to know why the recipient decided to collect your payment. We are not obliged to verify or confirm the amount the recipient presents to us for the purpose of processing payments made under the billing agreement.

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s 's you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t n't open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an An authorisation to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • instruction on a day which is not a Business Day; or • after 4 pm on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Any consent, acceptance, approval and other statements given using our website or app will have the same legal effect as a signature on a written document. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm 4.00pm local Luxembourg time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s 's you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t n't open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an An authorisation to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after After 4 pm Italian local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm Swiss local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:: • You authorize the named recipient(s) to collect payments from your account as the recipient determines (this could be for payments of amounts you owe the recipient for a purchase of goods or services under a separate contract that you have with the recipient). • You instruct PayPal to pay the named recipient(s) (or other recipient(s) that the named recipient(s) direct(s)) when the named recipient(s) request(s) PayPal to make your payment. This makes the recipient a “trusted beneficiary” of all your payments made to that recipient, so we will not normally ask you to authenticate (e.g. log in) or approve these payments when they are made. Payments made under the billing agreement may be in variable amounts and may be made on various dates. We are only a payment service provider so we can’t (and please don’t expect us to) know what you have or haven’t agreed with the recipient or to know why the recipient decided to collect your payment. We are not obliged to verify or confirm the amount the recipient presents to us for the purpose of processing payments made under the billing agreement.

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account [within the Business Day Day] after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm the following local cut off times on a Business DayDay for accounts registered in the following countries: 2pm in Poland. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or • after 4 pm After 2.00pm local Polish time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the The payment exceeds the sending limit we tell you about when you try to make the payment; or • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if a payment instruction is deemed to be received when the complete data required for execution of the transaction reaches us or if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 5.00pm local Finnish time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm German local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:: • You authorize the named recipient(s) to collect payments from your account as the recipient determines (this could be for payments of amounts you owe the recipient for a purchase of goods or services under a separate contract that you have with the recipient). • You instruct PayPal to pay the named recipient(s) (or other recipient(s) that the named recipient(s) direct(s)) when the named recipient(s) request(s) PayPal to make your payment. This makes the recipient a “trusted beneficiary” of all your payments made to that recipient, so we will not normally ask you to login (with password, PIN or similar) to approve these subsequent payments when they are made. Payments made under the billing agreement may be in variable amounts and may be made on various dates. We are only a payment service provider so we can’t (and please don’t expect us to) know what you have or haven’t agreed with the recipient or to know why the recipient decided to collect your payment. We are not obliged to verify or confirm the amount the recipient presents to us for the purpose of processing payments made under the billing agreement. We use several names for payments that can be managed by a billing agreement – these

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm the following local cut off times on a Business DayDay for accounts registered in the following countries: 4pm in Netherlands. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s 's you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t n't open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an An authorisation to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm German local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:: • You authorize the named recipient(s) to collect payments from your account as the recipient determines (this could be for payments of amounts you owe the recipient for a purchase of goods or services under a separate contract that you have with the recipient). • You instruct PayPal to pay the named recipient(s) (or other recipient(s) that the named recipient(s) direct(s)) when the named recipient(s) request(s) PayPal to make your payment. This makes the recipient a “trusted beneficiary” of all your payments made to that recipient, so we will not normally ask you to login (with password, PIN or similar) to approve these subsequent payments when they are made. Payments made under the billing agreement may be in variable amounts and may be made on various dates. We are only a payment service provider so we can’t (and please don’t expect us to) know what you have or haven’t agreed with the recipient or to know why the recipient decided to collect your payment. We are not obliged to verify or confirm the amount the recipient presents to us for the purpose of processing payments made under the billing agreement.

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account [within the Business Day Day] after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm the following local cut off times on a Business DayDay for accounts registered in the following countries: 2pm in Sweden. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. Cancelling your payment instruction Once you provide you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 2.00pm local Swedish time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm 4.00pm local Luxembourg time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or • after 4 pm After 2.00pm local Polish time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the The payment exceeds the sending limit we tell you about when you try to make the payment; or • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm the following local cut off times on a Business DayDay for accounts registered in the following countries: 5.00pm in Greece, 3.00pm in Ireland, 2.45pm in Hungary, 2.00pm in the Czech Republic, 4.00pm elsewhere. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account [within the Business Day Day] after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm the following local cut off times on a Business DayDay for accounts registered in the following countries: 5pm in Finland. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • instruction on a day which is not a Business Day; or • after 4 pm on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm 2.00pm local Swedish time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or • after 4 pm After 2.00pm local Polish time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the The payment exceeds the sending limit we tell you about when you try to make the payment; or • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s 's you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After the following local cut off times on a Business DayDay for accounts registered in the following countries: 5.00pm in Greece, 2.45pm in Hungary, 2.00pm in the Czech Republic, 4.00pm elsewhere. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t n't open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm Austrian local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:: • You authorize the named recipient(s) to collect payments from your account as the recipient determines (this could be for payments of amounts you owe the recipient for a purchase of goods or services under a separate contract that you have with the recipient). • You instruct PayPal to pay the named recipient(s) (or other recipient(s) that the named recipient(s) direct(s)) when the named recipient(s) request(s) PayPal to make your payment. This makes the recipient a “trusted beneficiary” of all your payments made to that recipient, so we will not normally ask you to login (with password, PIN or similar) to approve these subsequent payments when they are made. Payments made under the billing agreement may be in variable amounts and may be made on various dates. We are only a payment service provider so we can’t (and please don’t expect us to) know what you have or haven’t agreed with the recipient or to know why the recipient decided to collect your payment. We are not obliged to verify or confirm the amount the recipient presents to us for the purpose of processing payments made under the billing agreement. We use several names for payments that can be managed by a billing agreement – these

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after After 4 pm Italian local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: •  If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. •  You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account [within the Business Day Day] after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: •  on a day which is not a Business Day; or •  after 4 pm the following local cut off times on a Business Day. Day for accounts registered in the following countries: 3.00pm in Portugal We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: •  you do not have enough money in your PayPal balance; •  we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; •  you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); •  the payment exceeds the sending limit we tell you about when you try to make the payment; or •  we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: •  an authorisation to the seller to collect your payment at a later time; and •  an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: •  If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. •  You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • instruction on a day which is not a Business Day; or • after 4 pm on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: •  you do not have enough money in your PayPal balance; •  we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; •  you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); •  the payment exceeds the sending limit we tell you about when you try to make the payment; or •  we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: •  an authorisation to the seller to collect your payment at a later time; and •  an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: •  If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. •  You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account [within the Business Day Day] after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: •  on a day which is not a Business Day; or •  after 4 pm the following local cut off times on a Business DayDay for accounts registered in the following countries: 4pm in Netherlands. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: •  you do not have enough money in your PayPal balance; •  we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; •  you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); •  the payment exceeds the sending limit we tell you about when you try to make the payment; or •  we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: •  an authorisation to the seller to collect your payment at a later time; and •  an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s 's you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t n't open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an An authorisation to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm Spanish local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: •  If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. •  You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account [within the Business Day Day] after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: •  on a day which is not a Business Day; or •  after 4 pm the following local cut off times on a Business DayDay for accounts registered in the following countries: 16:00 pm in Spain. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: •  you do not have enough money in your PayPal balance; •  we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; •  you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); •  the payment exceeds the sending limit we tell you about when you try to make the payment; or •  we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: •  an authorisation to the seller to collect your payment at a later time; and •  an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account [within the Business Day Day] after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm the following local cut off times on a Business DayDay for accounts registered in the following countries: 4pm in Norway. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s 's you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm Irish local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t n't open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after After 4 pm Italian local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm on a Business Day. Day We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement User Agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreementUser Agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: •  If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. •  You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: •  on a day which is not a Business Day; or •  after 4 pm on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: •  you do not have enough money in your PayPal balance; •  we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; •  you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); •  the payment exceeds the sending limit we tell you about when you try to make the payment; or •  we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: •  an authorisation to the seller to collect your payment at a later time; and •  an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account [within the Business Day Day] after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm the following local cut off times on a Business DayDay for accounts registered in the following countries: 2pm in Denmark. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s 's you giving us the instruction, such as submitting your correct log-log- in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After the following local cut off times on a Business DayDay for accounts registered in the following countries: 5.00pm in Greece, 2.45pm in Hungary, 2.00pm in the Czech Republic, 4.00pm elsewhere. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t n't open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: •  If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. •  You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: •  on a day which is not a Business Day; or •  after 4 pm the following local cut off times on a Business DayDay for accounts registered in the following countries: 5.00pm in Greece, 3.00pm in Ireland, 2.45pm in Hungary, 2.00pm in the Czech Republic, 4.00pm elsewhere. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: •  you do not have enough money in your PayPal balance; •  we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; •  you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); •  the payment exceeds the sending limit we tell you about when you try to make the payment; or •  we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: •  an authorisation to the seller to collect your payment at a later time; and •  an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: •  If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. •  You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: •  on a day which is not a Business Day; or •  after 4 pm 4.00pm German local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: •  you do not have enough money in your PayPal balance; •  we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; •  you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); •  the payment exceeds the sending limit we tell you about when you try to make the payment; or •  we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: •  an authorisation to the seller to collect your payment at a later time; and •  an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement::  you authorise the named recipient(s) to collect payments from your account as the recipient determines (this could be for payments of amounts you owe the recipient for a purchase of goods or services under a separate contract that you have with the recipient); and  you instruct PayPal to pay the named recipient(s) (or other recipient(s) that the named recipient(s) direct(s)) when the named recipient(s) request(s) PayPal to make your payment. This makes the recipient a “trusted beneficiary” (the legal term for someone you tell us is a trusted recipient) of all your payments made under that billing agreement, so we will not normally ask you to authenticate (e.g. log in) or approve these payments when they are made. Payments made under the billing agreement may be in variable amounts and may be made on various dates. We are only a payment service provider so we can’t (and please don’t expect us to) know what you have or haven’t agreed with the recipient or to know why the recipient decided to collect your payment. We are not obliged to verify or confirm the amount the recipient presents to us for the purpose of processing payments made under the billing agreement.

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account [within the Business Day Day] after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm the following local cut off times on a Business DayDay for accounts registered in the following countries: 16:00 pm in Spain. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. Cancelling your payment instruction Once you provide you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 2.00pm local Swedish time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or • after 4 pm After 3.00pm Portuguese local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the The payment exceeds the sending limit we tell you about when you try to make the payment; or • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s 's you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm Irish local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t n't open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or • after 4 pm After 3.00pm Portuguese local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the The payment exceeds the sending limit we tell you about when you try to make the payment; or • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: •  If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. •  You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account [within the Business Day Day] after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: •  on a day which is not a Business Day; or •  after 4 pm the following local cut off times on a Business DayDay for accounts registered in the following countries: 5pm in Finland. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: •  you do not have enough money in your PayPal balance; •  we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; •  you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); •  the payment exceeds the sending limit we tell you about when you try to make the payment; or •  we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: •  an authorisation to the seller to collect your payment at a later time; and •  an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm Austrian local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:: • You authorize the named recipient(s) to collect payments from your account as the recipient determines (this could be for payments of amounts you owe the recipient for a purchase of goods or services under a separate contract that you have with the recipient). • You instruct PayPal to pay the named recipient(s) (or other recipient(s) that the named recipient(s) direct(s)) when the named recipient(s) request(s) PayPal to make your payment. This makes the recipient a “trusted beneficiary” of all your payments made to that recipient, so we will not normally ask you to login (with password, PIN or similar) to approve these subsequent payments when they are made. Payments made under the billing agreement may be in variable amounts and may be made on various dates. We are only a payment service provider so we can’t (and please don’t expect us to) know what you have or haven’t agreed with the recipient or to know why the recipient decided to collect your payment. We are not obliged to verify or confirm the amount the recipient presents to us for the purpose of processing payments made under the billing agreement.

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: •  If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. •  You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account [within the Business Day Day] after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: •  on a day which is not a Business Day; or •  after 4 pm the following local cut off times on a Business DayDay for accounts registered in the following countries: 4pm in Norway. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: •  you do not have enough money in your PayPal balance; •  we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; •  you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); •  the payment exceeds the sending limit we tell you about when you try to make the payment; or •  we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: •  an authorisation to the seller to collect your payment at a later time; and •  an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account [within the Business Day Day] after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm the following local cut off times on a Business DayDay for accounts registered in the following countries: 4pm in Netherlands. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account [within the Business Day Day] after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm the following local cut off times on a Business Day. Day for accounts registered in the following countries4.00 pm in Luxembourg We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account [within the Business Day Day] after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm the following local cut off times on a Business Day. Day for accounts registered in the following countries: 3.00pm in Portugal We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm Austrian local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:: • You authorize the named recipient(s) to collect payments from your account as the recipient determines (this could be for payments of amounts you owe the recipient for a purchase of goods or services under a separate contract that you have with the recipient). • You instruct PayPal to pay the named recipient(s) (or other recipient(s) that the named recipient(s) direct(s)) when the named recipient(s) request(s) PayPal to make your payment. This makes the recipient a “trusted beneficiary” of all your payments made to that recipient, so we will not normally ask you to login (with password, PIN or similar) to approve these subsequent payments when they are made. Payments made under the billing agreement may be in variable amounts and may be made on various dates. We are only a payment service provider so we can’t (and please don’t expect us to) know what you have or haven’t agreed with the recipient or to know why the recipient decided to collect your payment. We are not obliged to verify or confirm the amount the recipient presents to us for the purpose of processing payments made under the billing agreement. We use several names for payments that can be managed by a billing agreement – these

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s 's you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Any consent, acceptance, approval and other statements given using our website or app will have the same legal effect as a signature on a written document. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After the following local cut off times on a Business DayDay for accounts registered in the following countries: 5.00pm in Greece, 2.00pm in the Czech Republic, 4.00pm elsewhere. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t n't open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm on a Business DayAfter 2.00pm local Danish time. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm 4.00pm Austrian local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:: • you authorise the named recipient(s) to collect payments from your account as the recipient determines (this could be for payments of amounts you owe the recipient for a purchase of goods or services under a separate contract that you have with the recipient); and • you instruct PayPal to pay the named recipient(s) (or other recipient(s) that the named recipient(s) direct(s)) when the named recipient(s) request(s) PayPal to make your payment. This makes the recipient a “trusted beneficiary” (the legal term for someone you tell us is a trusted recipient) of all your payments made under that billing agreement, so we will not normally ask you to authenticate (e.g. log in) or approve these payments when they are made. Payments made under the billing agreement may be in variable amounts and may be made on various dates. We are only a payment service provider so we can’t (and please don’t expect us to) know what you have or haven’t agreed with the recipient or to know why the recipient decided to collect your payment. We are not obliged to verify or confirm the amount the recipient presents to us for the purpose of processing payments made under the billing agreement.

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm Swiss local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:: • You authorize the named recipient(s) to collect payments from your account as the recipient determines (this could be for payments of amounts you owe the recipient for a purchase of goods or services under a separate contract that you have with the recipient). • You instruct PayPal to pay the named recipient(s) (or other recipient(s) that the named recipient(s) direct(s)) when the named recipient(s) request(s) PayPal to make your payment. This makes the recipient a “trusted beneficiary” of all your payments made to that recipient, so we will not normally ask you to authenticate (e.g. log in) or approve these payments when they are made. Payments made under the billing agreement may be in variable amounts and may be made on various dates. We are only a payment service provider so we can’t (and please don’t expect us to) know what you have or haven’t agreed with the recipient or to know why the recipient decided to collect your payment. We are not obliged to verify or confirm the amount the recipient presents to us for the purpose of processing payments made under the billing agreement. We use several names for payments that can be managed by a billing agreement – these

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm Austrian local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:: • You authorize the named recipient(s) to collect payments from your account as the recipient determines (this could be for payments of amounts you owe the recipient for a purchase of goods or services under a separate contract that you have with the recipient). • You instruct PayPal to pay the named recipient(s) (or other recipient(s) that the named recipient(s) direct(s)) when the named recipient(s) request(s) PayPal to make your payment. This makes the recipient a “trusted beneficiary” of all your payments made to that recipient, so we will not normally ask you to log in (with password, PIN or similar) to approve these subsequent payments when they are made. Payments made under the billing agreement may be in variable amounts and may be made on various dates. We are only a payment service provider so we can’t (and please don’t expect us to) know what you have or haven’t agreed with the recipient or to know why the recipient decided to collect your payment. We are not obliged to verify or confirm the amount the recipient presents to us for the purpose of processing payments made under the billing agreement.

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • instruction on a day which is not a Business Day; or • after 4 pm on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: •  If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. •  You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account [within the Business Day Day] after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: •  on a day which is not a Business Day; or •  after 4 pm the following local cut off times on a Business Day. Day for accounts registered in the following countries4.00 pm in Luxembourg We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: •  you do not have enough money in your PayPal balance; •  we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; •  you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); •  the payment exceeds the sending limit we tell you about when you try to make the payment; or •  we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: •  an authorisation to the seller to collect your payment at a later time; and •  an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: •  If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. •  You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction instructio n to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account [within the Business Day Day] after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: •  on a day which is not a Business Day; or •  after 4 pm the following local cut off times on a Business DayDay for accounts registered in the following countries: 2pm in Sweden. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: •  you do not have enough money in your PayPal balance; •  we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; •  you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); •  the payment exceeds the sending limit we tell you about when you try to make the payment; or •  we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: •  an authorisation to the seller to collect your payment at a later time; and •  an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: •  If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. •  You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account [within the Business Day Day] after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: •  on a day which is not a Business Day; or •  after 4 pm 4.00pm Swiss local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: •  you do not have enough money in your PayPal balance; •  we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; •  you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); •  the payment exceeds the sending limit we tell you about when you try to make the payment; or •  we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: •  an authorisation to the seller to collect your payment at a later time; and •  an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement::  you authorise the named recipient(s) to collect payments from your account as the recipient determines (this could be for payments of amounts you owe the recipient for a purchase of goods or services under a separate contract that you have with the recipient); and  you instruct PayPal to pay the named recipient(s) (or other recipient(s) that the named recipient(s) direct(s)) when the named recipient(s) request(s) PayPal to make your payment. This makes the recipient a “trusted beneficiary” (the legal term for someone you tell us is a trusted recipient) of all your payments made under that billing agreement, so we will not normally ask you to authenticate (e.g. log in) or approve these payments when they are made. Payments made under the billing agreement may be in variable amounts and may be made on various dates. We are only a payment service provider so we can’t (and please don’t expect us to) know what you have or haven’t agreed with the recipient or to know why the recipient decided to collect your payment. We are not obliged to verify or confirm the amount the recipient presents to us for the purpose of processing payments made under the billing agreement.

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-log- in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm the following local cut off times on a Business DayDay for accounts registered in the following countries: 4pm in Netherlands. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: •  If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. •  You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account [within the Business Day Day] after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: •  on a day which is not a Business Day; or • after 4 pm the following local cut off times on a Business DayDay for accounts registered in the following countries: 4.00 pm in Belgium. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: •  you do not have enough money in your PayPal balance; •  we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; •  you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); •  the payment exceeds the sending limit we tell you about when you try to make the payment; or •  we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: •  an authorisation to the seller to collect your payment at a later time; and •  an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm Austrian local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:: • You authorize the named recipient(s) to collect payments from your account as the recipient determines (this could be for payments of amounts you owe the recipient for a purchase of goods or services under a separate contract that you have with the recipient). • You instruct PayPal to pay the named recipient(s) (or other recipient(s) that the named recipient(s) direct(s)) when the named recipient(s) request(s) PayPal to make your payment. This makes the recipient a “trusted beneficiary” of all your payments made to that recipient, so we will not normally ask you to login (with password, PIN or similar) to approve these subsequent payments when they are made. Payments made under the billing agreement may be in variable amounts and may be made on various dates. We are only a payment service provider so we can’t (and please don’t expect us to) know what you have or haven’t agreed with the recipient or to know why the recipient decided to collect your payment. We are not obliged to verify or confirm the amount the recipient presents to us for the purpose of processing payments made under the billing agreement.

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s 's you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After the following local cut off times on a Business DayDay for accounts registered in the following countries: 5.00pm in Greece, 2.45pm in Hungary, 2.00pm in the Czech Republic, 4.00pm elsewhere. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t n't open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:.

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm Spanish local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm the following local cut off times on a Business DayDay for accounts registered in the following countries: 4pm in Netherlands. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account [within the Business Day Day] after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm the following local cut off times on a Business DayDay for accounts registered in the following countries: 4.00 pm in Belgium. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm German local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:: • You authorize the named recipient(s) to collect payments from your account as the recipient determines (this could be for payments of amounts you owe the recipient for a purchase of goods or services under a separate contract that you have with the recipient). • You instruct PayPal to pay the named recipient(s) (or other recipient(s) that the named recipient(s) direct(s)) when the named recipient(s) request(s) PayPal to make your payment. This makes the recipient a “trusted beneficiary” of all your payments made to that recipient, so we will not normally ask you to login (with password, PIN or similar) to approve these subsequent payments when they are made. Payments made under the billing agreement may be in variable amounts and may be made on various dates. We are only a payment service provider so we can’t (and please don’t expect us to) know what you have or haven’t agreed with the recipient or to know why the recipient decided to collect your payment. We are not obliged to verify or confirm the amount the recipient presents to us for the purpose of processing payments made under the billing agreement.

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm on a Business DayAfter 2.00pm local Danish time. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm Spanish local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or . • after 4 pm After 4.00pm German local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:: • You authorize the named recipient(s) to collect payments from your account as the recipient determines (this could be for payments of amounts you owe the recipient for a purchase of goods or services under a separate contract that you have with the recipient). • You instruct PayPal to pay the named recipient(s) (or other recipient(s) that the named recipient(s) direct(s)) when the named recipient(s) request(s) PayPal to make your payment. This makes the recipient a “trusted beneficiary” of all your payments made to that recipient, so we will not normally ask you to login (with password, PIN or similar) to approve these subsequent payments when they are made. Payments made under the billing agreement may be in variable amounts and may be made on various dates. We are only a payment service provider so we can’t (and please don’t expect us to) know what you have or haven’t agreed with the recipient or to know why the recipient decided to collect your payment. We are not obliged to verify or confirm the amount the recipient presents to us for the purpose of processing payments made under the billing agreement.

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s 's you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • on On a day which is not a Business Day; or • after 4 pm on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:.

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two 2 Business Days if we receive your complete payment instruction: • instruction on a day which is not a Business Day; or • after 4 pm on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; . • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; . • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); . • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and . • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: •  If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. •  You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your you payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: •  on a day which is not a Business Day; or •  after 4 pm on a Business Day. Day We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement User Agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: •  you do not have enough money in your PayPal balance; •  we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; •  you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); •  the payment exceeds the sending limit we tell you about when you try to make the payment; or •  we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreementUser Agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: •  an authorisation to the seller to collect your payment at a later time; and •  an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on On a day which is not a Business DayDays; or • after 4 pm After 4.00pm Belgian local time on a Business Day. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you You do not have enough money in your PayPal balance; • we We have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you You do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the The payment exceeds the sending limit we tell you about when you try to make the payment; or . • we We have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised finalized by the seller), you are providing: • an authorisation An authorization to the seller to collect your payment at a later time; and • an An instruction to us to automatically pay that seller when the seller requests payment. Your authorisation authorization will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation authorization allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation authorization and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement:: • You authorize the named recipient(s) to collect payments from your account as the recipient determines (this could be for payments of amounts you owe the recipient for a purchase of goods or services under a separate contract that you have with the recipient); and • You instruct PayPal to pay the named recipient(s) (or other recipient(s) that the named recipient(s) direct(s)) when the named recipient(s) request(s) PayPal to make your payment. This makes the recipient a “trusted beneficiary” of all your payments made to that recipient, so we will not normally ask you to log in (with password, PIN or similar) to approve these subsequent payments when they are made. Payments made under the billing agreement may be in variable amounts and may be made on various dates. We are only a payment service provider so we can’t (and please don’t expect us to) know what you have or haven’t agreed with the recipient or to know why the recipient decided to collect your payment. We are not obliged to verify or confirm the amount the recipient presents to us for the purpose of processing payments made under the billing agreement.

Making A Payment. General provisions for making a payment Your payment instruction We may allow you to provide your payment instruction to us in any way which we may notify to you from time to time. The way in which you provide your payment instruction can depend on the type of payment you are making – for example: • If you are paying for a purchase or making a donation, many sellers and/or fund collectors allow you to provide your payment instruction to us in a dedicated PayPal checkout or other PayPal payment collection integration on their site. • You can use the “Send Money” feature when you log into your PayPal account to send a payment to someone. We may require you to authenticate your payment instruction (i.e. give us the information that we need to be sure that it’s you giving us the instruction, such as submitting your correct log-in information – this could include your e-mail address and password) and otherwise successfully log into your PayPal account to provide to us your payment instruction. We may offer you to select certain recipients for a faster payment experience, which makes them a "trusted beneficiary" for your future payments made to that recipient. We will not normally ask you to log in (with password, PIN or similar) for these payments when they are made. You can access and edit your list of trusted beneficiaries in your PayPal account at any time. Cancelling your payment instruction Once you provide your payment instruction to us, you may not cancel it, except if it is a payment instruction under a billing agreement (see below for more details). How long will my payment take? Your payment to another user will leave your account within the Business Day after we receive your complete payment instruction. A payment instruction is deemed to be received by us when the complete data required for execution of the transaction reaches us. The payment will leave your account within two Business Days if we receive your complete payment instruction: • on a day which is not a Business Day; or • after 4 pm the following local cut off times on a Business DayDay for accounts registered in the following countries: 4pm in Netherlands. We may allow you to ask us to make your payment on a specific later date, in which case your payment will leave your account on that later date. Other provisions in this user agreement may cause the above timeframes to be extended. When we may refuse to make your payment We may treat your payment instruction as not complete and we may refuse to make your payment if: • you do not have enough money in your PayPal balance; • we have reason to believe that your linked funding sources do not have sufficient funds to cover the money required to make your payment; • you do not provide us with all mandatory information requested in the relevant payment or checkout flows which we use to obtain your payment instructions (for instance, sufficient details of the recipient as we may request and authentication of your payment instruction); • the payment exceeds the sending limit we tell you about when you try to make the payment; or • we have reason to believe that a restricted activity has happened in relation to your account or you are otherwise in breach of this user agreement. When your payment is not accepted by the recipient If we allow you to send a payment to someone who does not have a PayPal account, the recipient can claim the money by opening a PayPal account. If the recipient already has a PayPal account, they can refuse to accept the money. If the recipient refuses to accept the money or doesn’t open a PayPal account and claim the money within 30 days after the date it is sent, the money (including any fees you were charged) will be refunded to your PayPal account. See Refunds to your account for what can happen when your PayPal account receives a refund. Sending limits We may, at our discretion, impose limits on the amount and value of payments you can make, including money you send for purchases. You can view any sending limit by logging into your PayPal account. To lift your sending limit, you must follow the steps that we will notify to you or publish from time to time (which we may set out in your account overview). Setting up automatic charges from your account Seller delayed payments When you pay certain sellers or pay for certain purchases (for instance, purchases which have to be shipped to you or may be updated and finalised by the seller), you are providing: • an authorisation to the seller to collect your payment at a later time; and • an instruction to us to automatically pay that seller when the seller requests payment. Your authorisation will typically remain valid for up to 30 days, but may remain valid for longer. If you have balance, we may hold the payment amount as pending until the seller collects your payment. If your payment requires a currency conversion by us, the transaction exchange rate will be determined and applied (as described in the Currency Conversion section) at the time the payment is processed. Your authorisation allows the seller to update the payment amount before the seller collects the payment (to account for any changes to the purchase that you may agree with the seller, such as additional taxes, shipping or postage charges or discounts). We are not required to verify any changes at any time (including at the time the payment is transferred). We may transfer any amount on the basis of your authorisation and upon receiving instructions from the seller of the final payment amount. Billing agreement payments You can use a billing agreement to manage payments to the same recipient(s) on an ongoing automatic basis. When you enter into a billing agreement: