Stifel Social Media Terms of Use

Stifel Financial Corp. and its affiliated companies (collectively, “Stifel,” “we,” “us,” or “our”) operate various social media accounts, including on LinkedIn, X (formerly Twitter), Facebook, and Instagram (collectively, the “Stifel Social Accounts”). These Social Media Terms of Use (“Terms”) govern your access to and interaction with the Stifel Social Accounts and any content shared by Stifel via such accounts (the “Stifel Social Content”).

These Terms represent a binding contract between you and Stifel. By visiting any of the Stifel Social Accounts, engaging with any Stifel Social Content, or otherwise interacting with Stifel in any way on any social media platform (each, a “Social Media Platform” or “Platform”), you expressly represent that you have read these Terms and agree to them. If you do not agree to any provision of these Terms, please do not access, or otherwise interact with, the Stifel Social Accounts or Stifel Social Content.

JURISDICTION

The Stifel Social Accounts are maintained and updated by Stifel in accordance with the following:

• U.S. residents: Social media updates are made by Stifel Financial Corp. and/or its U.S. subsidiaries.
• European Economic Area and Switzerland residents: Social media updates are made by Stifel Nicolaus Europe Limited, which is authorized and regulated by the Financial Conduct Authority. The products and services outlined in any social media updates are only intended for and available to eligible counterparties and professional clients; they are not intended for or available to retail clients.
• Rest of the world: Stifel is not authorized or regulated in any jurisdiction other than the United States, the European Economic Area, and Switzerland. If you are a resident of any other jurisdiction, our social media updates are not intended for or directed to you. Any person accessing our social media updates from such jurisdictions does so at their own risk and on their exclusive initiative.

STIFEL SOCIAL CONTENT

General Informational Purposes Only. The Stifel Social Content is shared for general informational purposes only and should not be regarded as legal, tax, investment, or any other type of professional advice. Without limiting the preceding sentence, the Stifel Social Content should never be interpreted as a recommendation to make any particular investment or otherwise be treated as investment advice.

While Stifel Social Content may contain perspectives, opinions, and information on matters related to financial investment, management, banking, and related matters, products, and services, such content is general in nature and does not consider the specific circumstances of any individual or organization. Further, opinions and views expressed in Stifel Social Content are subject to change without notice.

More generally, financial investing involves risk, including the possible loss of principal. The value of investments may go down as well as up, and the value of securities and financial instruments is subject to currency exchange rate fluctuation that may have a positive or negative effect on the price of such securities or instruments. Past performance is not necessarily a guide to future performance. As such, we recommend seeking the advice of professionals (including your Stifel advisor, if applicable), regarding the evaluation of any information, opinion, advice, or other content on the Stifel Social Accounts or otherwise on a Social Media Platform.

No Offers or Solicitations. Stifel does not accept orders via the Stifel Social Accounts. The Stifel Social Content is not and should never be interpreted as a solicitation or offer to buy or sell any securities, options, or other financial instruments or provideany investment advice or services.

Transparency. Please be advised that Stifel does and seeks to do business with companies that may be discussed, in research reports and otherwise, in the Stifel Social Content. For current disclosures for all covered companies by the Equities Research department, please visit www.stifel.com/research/required-disclosures or www.kbw.com/research/disclosures for KBW covered companies. For current disclosures for all covered issuers and financial instruments by the Stifel Europe Fixed Income Research department, please visit the Research page at stifelfi.bluematrix.com/sellside/Disclosures.action.

If you are a Stifel client and have specific questions about your account or investments, please contact your Stifel representative.

PLATFORM TERMS

These Terms are separate from and in addition to any agreements between you and any Social Media Platform and any policies of the Platform regarding the processing of your personal data or other matters(collectively, “Platform Terms”). Stifel is not affiliated with any Social Media Platforms and, as such, we have no control over any Platform Terms, including how Platforms use and share information disclosed by you to or on the Platform. Before using any Social Media Platform, we recommend familiarizing yourself with the applicable Platform Terms, including any privacy and data security policies.

INTERACTING WITH STIFEL ON SOCIAL MEDIA

Personal Information. Stifel reserves the right to retain and reproduce any content posted by you on a Social Media Platform, consistent with applicable law and the relevant Platform Terms, provided that any personal information included in such content will be treated in accordance with our Privacy Policy found at www.stifel.com/privacy.

That being said, please do not share any personal information, including personal financial information, with Stifel on a Social Media Platform. For avoidance of doubt, we will never ask for your social security number, Stifel account information, passwords, PINs, or other personal information via a Social Media Platform. More generally, we strongly encourage you to exercise caution before sharing personal information with any party on a Social Media Platform.

Prohibited Content. For purposes of these Terms, “Prohibited Content” is any content shared by you or another social media user (including posts, messages, and comments) on or in connection with a Stifel Social Account or Stifel Social Content that, in Stifel’s judgment:

• Infringes any copyright, trademark, trade secret, patent, or other right of any party, defames or invades the publicity rights or the privacy of any person, or impersonates any person;
• Violates, or encourages anyone to violate, any applicable local, state, national, or international law, regulation, or order; or
• Is false, misleading, harmful, threatening, abusive, harassing, tortious, defamatory, vulgar, obscene, libelous, invasive of another’s privacy, hateful, discriminatory on the basis of race, ethnicity, nationality, religion, sex, sexuality, gender, age, or disability, or otherwise objectionable, all as determined by Stifel in its sole discretion.

To the extent feasible under the applicable Platform’s functionality and consistent with any applicable Platform Terms and laws, Stifel reserves the right to (a) delete, remove, modify, or refuse to post any Prohibited Content and (b) block or otherwise prohibit users responsible for Prohibited Content from accessing the Stifel Social Accounts and Stifel Social Content. Further, this reservation of rights is in addition to any other actions Stifel may legally take with respect to social media content it deems to be inappropriate or problematic for any reason.

You understand that Stifel shall have the right, but no obligation, to take the actions referenced in the preceding paragraph, and that any delay or inaction by Stifel with respect to such actions shall not constitute an endorsement or approval by Stifel of the relevant social media content. You hereby waive any claims against Stifel related to such actions or inaction.

Notwithstanding the foregoing provisions of this section, nothing in these Terms shall prohibit or restrict your ability to (i) make any “statement” protected by Cal. Civ. Code § 1670.8; (ii) engage in a “covered communication” as defined by the Consumer Review Fairness Act, 15 U.S.C.A. § 45b; or (ii) express or publish any review, performance assessment, or similar analysis (collectively,“Reviews”) about Stifel, its employees or agents, or its products or services, to the extent that such Reviews are protected under applicable law.

THIRD-PARTY CONTENT AND EXTERNAL SITES

Third-Party Content. The Stifel Social Accounts and Stifel Social Content may contain content originating from third parties (“Third-Party Content”), including posts by other users on Stifel Social Accounts or comments by other users on Stifel Social Content. “Third-Party Content” also includes content originating from a third party that Stifel has re-posted or otherwise shared via a Stifel Social Account (“Shared Content”).

Third-Party Content has not necessarily been reviewed or approved by Stifel, and we make no representations or warranties of any kind with respect to Third-Party Content, including as to its accuracy, reliability, completeness, or timeliness. Any views or opinions expressed in Third-Party Content belong to the party from whom the content originated. Further, Shared Content is shared by Stifel for general informational purposes only and does not act as an endorsement by Stifel of the content or its source. Your reliance on any Third-Party Content is done entirely at your own risk. You understand and agree that Stifel shall have no liability related to any Third-Party Content, including your reliance on such content.

External Sites. The Stifel Social Accounts and Stifel Social Content, as well as Third-Party Content, may contain links to third-party websites, services, or platforms (“External Sites”). To the extent that Stifel shares links to External Sites from a Stifel Social Account, this is done for general informational purposes only and does not constitute an endorsement by Stifel of the External Site or its operator. Stifel makes no representation or warranty of any kind with respect to External Sites or the links to such sites, including their availability, safety, or security, nor do we endorse any External Sites or their contents.

The operator of an External Site, and not Stifel, is responsible for all aspects the External Site, including its terms of use and privacy policies (if any). Under no circumstances shall we be held responsible or liable for any loss or damage caused or alleged to have been caused by your use of or reliance on any content, goods, or services available on any External Sites. You are responsible for maintaining the security of your own accounts and devices, and any access to and use of External Sites is done entirely at your own risk.

Platform Engagement. Using the Stifel Social Accounts, we may “like” Third-Party Content and accounts of other users, “mention” or “tag” other users, and otherwise engage with other users and accounts using the functionality made available on the relevant Social Media Platform (collectively, “Platform Engagement”). Platform Engagement by Stifel does not constitute any form of endorsement or approval by Stifel of the applicable Third-Party Content, accounts, or users and should never be treated as a recommendation by Stifel to interact, professionally or otherwise, with such third party.

INTELLECTUAL PROPERTY

The Stifel Social Content is the exclusive property of Stifel or our licensors. You are permitted to download and print out a single copy of Stifel Social Content for your personal, non-commercial use, provided that you do not modify that content in any way, including by altering or removing any legal notices on the content. Unless authorized by applicable law, you may not otherwise modify, copy, distribute, display, reproduce, sell, license, create derivative works from, or otherwise use or exploit any Stifel Social Content without our prior written authorization.

The terms of the preceding paragraph do not apply to Shared Content. Because Shared Content does not originate with Stifel, we are not the owner of such content, and we are not authorized to approve its use by you or any other party. Therefore, before copying or otherwise using Shared Content in any way, we recommend seeking permission from the party responsible for the content.

WARRANTIES AND LIABILITY

DISCLAIMER OF WARRANTIES. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE STIFEL SOCIAL CONTENT IS PROVIDED “AS IS.” STIFEL MAKES NO REPRESENTATION OR WARRANTY OF ANY KIND, WHETHER EXPRESS OR IMPLIED, TO YOU OR ANY OTHER PARTY RELATING IN ANY WAY TO THE STIFEL SOCIAL ACCOUNTS OR STIFEL SOCIAL CONTENT. WITHOUT LIMITING THE PRECEDING SENTENCE, STIFEL DISCLAIMS ANY IMPLIED WARRANTIES THAT THE STIFEL SOCIAL CONTENT IS ACCURATE, ERROR-FREE, RELIABLE, COMPLETE, TIMELY, NON-INFRINGING, OR FIT FOR A PARTICULAR PURPOSE OR NEED. NO ORAL OR WRITTEN INFORMATION OR ADVICE GIVEN BY STIFEL OR A REPRESENTATIVE SHALL CREATE A WARRANTY. IT IS YOUR RESPONSIBILITY TO EVALUATE ANY INFORMATION, OPINION, ADVICE, OR OTHER CONTENT MADE AVAILABLE ON OR THROUGH THE STIFEL SOCIAL ACCOUNTS.

LIMITATION OF LIABILITY. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL STIFEL OR ITS SUBSIDIARIES, AFFILIATES, SUCCESSORS, ASSIGNS, SUPPLIERS, LICENSORS, OR AGENTS, OR THE OFFICERS, DIRECTORS, SHAREHOLDERS, OR EMPLOYEES OF ANY OF THE FOREGOING ENTITIES (THE “RELEASED PARTIES”) BE LIABLE TO YOU FOR DAMAGES CAUSED OR ALLEGED TO HAVE BEEN CAUSED BY (A) THE STIFEL SOCIAL CONTENT, (B) ANY ACTION OR INACTION BY STIFEL WHILE USING THE STIFEL SOCIAL ACCOUNTS, OR (C) ANY THIRD-PARTY CONTENT (INCLUDING SHARED CONTENT), IN ALL CASES REGARDLESS OF LEGAL THEORY, EVEN IF THE RELEASED PARTIES HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, AND EVEN IF A REMEDY FAILS OF ITS ESSENTIAL PURPOSE.

ADDITIONAL RIGHTS. SOME JURISDICTIONS DO NOT PERMIT THE EXCLUSION OR LIMITATION OF CERTAIN WARRANTIES OR DAMAGES, SO SOME OF THE LIMITATIONS OR EXCLUSIONS IN THIS SECTION MAY NOT APPLY TO YOU. FOR CLARIFICATION, NOTHING IN THESE TERMS SEEKS TO EXCLUDE OR LIMIT ANY WARRANTIES OR DAMAGES THAT CANNOT BE EXCLUDED OR LIMITED BY APPLICABLE LAW. HOWEVER, YOU AGREE THAT THE TERMS OF THIS SECTION SHALL APPLY TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW.

INDEMNIFICATION

You agree to indemnify, hold harmless, and (at our option) defend Stifel from and against all liabilities, claims, damages, costs, and expenses, including attorneys’ fees and costs, arising from or related to (a) your breach of any of these Terms or (b) content you share or actions you take on or in connection with the Stifel Social Accounts or Stifel Social Content. We reserve the right to assume exclusive defense and control of any matter otherwise subject to indemnification by you and you agree to cooperate with us if and as requested by us in the defense and settlement of such matter. In any case, you agree never to settle any matter for which your indemnification is required absent our prior written consent.

DISPUTES

If there is any controversy, claim, action, or dispute between you and Stifel arising out of or related to the Stifel Social Accounts or Stifel Social Content, or the breach, enforcement, interpretation, or validity of these Terms or any part of them (“Dispute”), you and Stifel agree to resolve the Dispute through the dispute resolution procedures set forth in this section, even if that Dispute arose prior to the Effective Date of these Terms.

A. Informal Dispute Resolution

You and Stifel agree to first attempt to avoid the costs of formal dispute resolution by giving each other a full and fair opportunity to address and resolve the Dispute informally. The party with the complaint (the “Complaining Party”) shall send written notice to the other party (the “Receiving Party”) describing the facts and circumstances of the Dispute (a “Dispute Notice”).

All Dispute Notices must: (1) be signed by the Complaining Party; (2) include the Complaining Party’s name, physical address, and e-mail address; (3) describe with specificity the nature and basis of the Dispute in a manner sufficient for the Receiving Party to evaluate the merits of the Complaining Party’s individualized claim, and (4) set forth the alleged damage and harm suffered and the specific relief sought with a calculation for it. Each Dispute Notice is limited to a single Dispute between you and Stifel. As such, your Dispute and the Disputes of other parties may not be combined into a single Dispute Notice.

Dispute Notices shall be sent:

• To Stifel: You must send notice (1) by electronic mail to sminfo@stifel.comand (2) by first-class or certified mail to Stifel, 501 North Broadway, St. Louis, Missouri 63102
• To You: We will send notice by (1) first class or certified mail to the physical address we have on file for you (if any) and (2) by e-mail to the e-mail address we have on file for you (if any). If we do not have any address on file for you, or if we are unable to provide notice via the contact information on file, we reserve the right to provide notice by other reasonable means.

You and Stifel will attempt to resolve the Dispute through informal negotiation within sixty (60) days beginning on the date that a valid Dispute Notice is sent (the “Informal Negotiation Period”). During the Informal Negotiation Period, the parties are required to conduct an individual meet-and-confer in person, or via teleconference or videoconference, that addresses only the Dispute between you and Stifel (the “Conference”). If you are represented by counsel, your counsel may participate in the Conference, but you will also need to participate. Stifel will participate in the Conference through one or more representatives, which may include our counsel.

Both you and Stifel agree that the foregoing dispute resolution procedure (the “Informal Dispute Resolution Procedure”) is a condition precedent that must be satisfied before initiating any arbitration or litigation against the other party. If any aspect or requirement of the Informal Dispute Resolution Procedure has not been completed or satisfied, the parties agree that (i) a court of competent jurisdiction can enjoin the filing or prosecution of any arbitration or litigation and (ii) unless prohibited by law, no arbitration administrator shall accept or administer any arbitration or demand fees in connection with the Dispute.

B. Individual Arbitration

IF ANY DISPUTE CANNOT BE RESOLVED BY THE INFORMAL DISPUTE RESOLUTION PROCEDURE, YOU AND STIFEL AGREE THAT SUCH DISPUTE WILL BE DECIDED BY BINDING ARBITRATION ON AN INDIVIDUAL BASIS. ARBITRATION ON AN INDIVIDUAL BASIS MEANS THAT YOU WILL NOT HAVE, AND YOU WAIVE, THE RIGHT TO HAVE A JUDGE OR JURY DECIDE YOUR CLAIMS, AND THAT YOU MAY NOT PROCEED IN A CLASS, CONSOLIDATED, COLLECTIVE, OR REPRESENTATIVE CAPACITY. OTHER RIGHTS THAT YOU AND WE WOULD OTHERWISE HAVE IN COURT WILL NOT BE AVAILABLE OR WILL BE MORE LIMITED IN ARBITRATION, INCLUDING DISCOVERY AND APPEAL RIGHTS.

All such Disputes shall be exclusively submitted to Judicial Arbitration and Mediation Services (JAMS) (www.jamsadr.com) for binding arbitration under its rules then in effect (as modified by these Terms), before one arbitrator to be mutually agreed upon by both parties (a Dispute submitted to JAMS being a “Demand for Arbitration”). The arbitration shall be conducted in accordance with the JAMS Consumer Arbitration Minimum Standards (the “Minimum Standards”) if, and only if, it is determined by JAMS or the arbitrator that the Minimum Standards are applicable to the Dispute. The Minimum Standards are available at www.jamsadr.com/consumer-minimum-standards. The location of any hearings will be determined by the applicable JAMS rules, provided that if the claim is for $5,000 or less, you may choose to have the arbitration conducted (1) solely on the basis of the documents submitted to the arbitrator or (2) through a hearing by teleconference or videoconference.

The arbitrator, and not any federal, state, or local court or agency, shall have exclusive authority to resolve any Dispute arising under or relating to the interpretation, applicability, enforceability, or formation of these Terms, including any claim that all or any part of these Terms are void or voidable. For the avoidance of doubt, you and Stifel agree that the arbitrator shall have the exclusive power to rule on his or her own jurisdiction, including any objections with respect to the existence, scope, or validity of this section of the Terms or the arbitrability of any claim or counterclaim. The award rendered by the arbitrator may be confirmed and enforced in any court having jurisdiction thereof.

C. Mass Arbitration

Notwithstanding any other provision of this section, if you or Stifel files a Demand for Arbitration, and it is (a) one of fifty (50) or more similar Demands for Arbitration filed against the other party (i.e., against you or Stifel, as applicable) or (b) by parties represented by the same law firm or law firms acting in coordination (“Mass Arbitration”), the arbitration of the Dispute, and all other Disputes constituting the Mass Arbitration, shall be conducted in accordance with the JAMS Mass Arbitration Procedures and Guidelines, including, for avoidance of doubt, the JAMS Mass Arbitration Fee Schedule (collectively, the “Mass Arbitration Procedures”). The Mass Arbitration Procedures are available at www.jamsadr.com/mass-arbitration-procedures.

D. Exceptions

In lieu of the dispute resolution procedures in this section, you or Stifel may (1) bring an individual claim or elect to resolve a Dispute in small claims court in the United States consistent with any applicable jurisdictional and monetary limits (so long as the action is litigated exclusively in small claims court and is not removed or appealed to a court of general jurisdiction) and (2) file an individual claim in court to enjoin the infringement or other misuse of its intellectual property rights (so long as the action is brought and maintained on an individual basis).

In addition, nothing in these Terms prohibits you or us from bringing issues to the attention of federal, state, or local agencies. Such agencies can, if the law allows, seek relief against us on your behalf (or vice versa).

Choice of Law and Forum. These Terms have been made in and shall be construed in accordance with the laws of the United States (including federal arbitration law) and the state of Missouri, without giving effect to any conflict of laws principles. You and Stifel acknowledge that these Terms evidence a transaction involving interstate commerce and that any arbitration conducted pursuant to these Terms shall be governed by the Federal Arbitration Act, 9 U.S.C. §§ 1-16. Except for claims properly lodged in a small claims court in the United States, any claims not subject to arbitration shall be resolved by a court located in Missouri and you agree and submit to the exercise of personal jurisdiction of such courts for the purpose of litigating any such claim or action.

Modification of These Terms. We reserve the right to modify these Terms at any time. When we do so, we will update the “Effective Date” at the outset of this agreement. For material changes, we will seek to supplement such notice by e-mail, a pop-up message on the Sites, another prominent notice on the Sites, or by other reasonable means. Visiting any of the Stifel Social Accounts, engaging with any Stifel Social Content, or otherwise interacting with Stifel on a Social Media Platform following any changes to these Terms will constitute your acceptance of the Terms as modified.

Effective Date: 3/1/2025