Robinhood Financial LLC & Robinhood Securities, LLC Customer Agreement

Legal Rights & Agreement Rules · Context

This saved text is the Customer Agreement revised October 1, 2026

The saved document opens with a revision line reading "Revised October 1, 2026". That line dates this copy of the Customer Agreement as a later-dated version of the text. The saved text also contains a separate later line "Revised April 10, 2026" ahead of an attached Market Data Addendum, so the dates on the parts of this PDF differ.

Supporting quotations

Revised October 1, 2026

Qualifications & exceptions

• The date is the revision label printed on the saved document, not a stated effective date or a statement about when it takes effect for any particular account.

Not stated here

• The saved text does not say when this revision takes effect for existing customers or whether it replaces an earlier version for them.

Legal Rights & Agreement Rules · Context

Who "Robinhood", "Account" and "you" mean, and what the Agreement covers

The Customer Agreement is between the customer (the Account owner) and Robinhood Financial LLC, Robinhood Securities, LLC and their agents and assigns, together called "Robinhood". It governs accounts Robinhood may open and operate for the customer to buy, sell or carry securities or related contracts, or to borrow funds. Transactions in those Accounts are cleared through Robinhood Securities. Where an Account is a trust or custodial account, "you" also covers the authorized individual acting as fiduciary, both in that fiduciary role and individually where applicable. "Agreement" is defined to include not just this text but any other agreements or disclosures that apply to the Account, as amended or supplemented from time to time.

Supporting quotations

Robinhood Financial LLC, Robinhood Securities, LLC, and their agents and assigns (collectively in this Agreement, “Robinhood”) may open and operate one or more accounts on your behalf

which transactions are cleared through Robinhood Securities

Where an Account is a trust or custodial account, these terms shall also refer to the authorized individual acting in a fiduciary capacity (such as a trustee or custodian), both in their fiduciary capacity and in their individual capacity, where applicable.

References to this “Agreement” include these terms and conditions as well as any other agreements or disclosures that apply to your Account, each as amended or supplemented from time to time.

Qualifications & exceptions

• The fiduciary extension applies where the Account is a trust or custodial account and covers the individual "where applicable".
• "Agreement" includes other agreements and disclosures that apply to the Account, so the reach of the Agreement is wider than this document alone.

Legal Rights & Agreement Rules · Restriction or exception

Clicking or tapping "Submit Application" or "Agree" binds you as if you had signed

By agreeing to the Agreement and opening or using an Account, you expressly accept its terms and any other agreements or terms incorporated into it. Clicking or tapping "Submit Application", "Agree" or a similar button or acknowledgement in the application process is stated to be legally equivalent to manually signing, and you are legally bound when you do so. The Agreement also tells you it is a legal agreement, asks you to read and understand it before agreeing, and directs questions to help@robinhood.com or independent advice.

Supporting quotations

BY AGREEING TO THIS AGREEMENT AND OPENING OR USING AN ACCOUNT, YOU EXPRESSLY AGREE TO THE TERMS OF THIS AGREEMENT AND ANY OTHER AGREEMENTS OR TERMS INCORPORATED INTO IT.

IS LEGALLY EQUIVALENT TO MANUALLY SIGNING THIS AGREEMENT, AND YOU WILL BE LEGALLY BOUND BY THIS AGREEMENT WHEN YOU CLICK OR TAP SUCH BUTTON

IT IS IMPORTANT THAT YOU CAREFULLY READ AND UNDERSTAND ITS TERMS BEFORE AGREEING TO IT. IF YOU HAVE ANY QUESTIONS YOU SHOULD CONTACT help@robinhood.com OR SEEK INDEPENDENT ADVICE.

Qualifications & exceptions

• The binding effect attaches to clicking a button or acknowledgement during the application process.

Legal Rights & Agreement Rules · Permission or license

Robinhood can amend the Agreement by posting revised terms; continued use is acceptance

Robinhood may supplement or amend the Agreement from time to time by notice to you, and the notice requirement can be met simply by posting the revised terms on the Robinhood website. You agree to check for updates. If you keep maintaining an Account or accessing services without objecting to revised terms, you are deemed to accept them and are legally bound. The clause does not say here how long you have to object or how to object.

Supporting quotations

THIS AGREEMENT AND ITS TERMS MAY BE SUPPLEMENTED OR AMENDED FROM TIME TO TIME BY ROBINHOOD BY NOTICE TO YOU, AND SUCH NOTICE REQUIREMENT MAY BE SATISFIED BY THE REVISED TERMS BEING POSTED ON THE ROBINHOOD WEBSITE, AND YOU AGREE TO CHECK FOR UPDATES TO THIS AGREEMENT.

BY CONTINUING TO MAINTAIN ANY ACCOUNT OR ACCESS ANY SERVICES WITHOUT OBJECTING TO ANY REVISED TERMS OF THIS AGREEMENT, YOU ARE DEEMED TO ACCEPT THE TERMS OF THE REVISED AGREEMENT AND WILL BE LEGALLY BOUND BY ITS TERMS AND CONDITIONS.

Qualifications & exceptions

• Notice may be satisfied by website posting alone.
• Acceptance is deemed from continuing to maintain an Account or access services without objecting.

Not stated here

• The text does not give an objection period or a procedure for objecting.

Cross-references

• contrast (model-proposed): Robinhood may amend the Agreement at any time without prior notice; continued activity is acceptance — contrast: Section 1 describes amendments "by notice to you" that posting on the website can satisfy and deems continued use acceptance, while Section 37.7 allows amendment "without prior notice" with the current version posted. The two pull in different directions on whether notice precedes an amendment; the text does not reconcile them.

Legal Rights & Agreement Rules · Restriction or exception

Terms you accept for other Robinhood services are added to this Agreement

If you request other Robinhood services that require you to agree to specific terms, whether electronically by clicking or otherwise, those terms are deemed an amendment and become part of this Agreement. In practice, separate service terms you accept can be folded into the Customer Agreement.

Supporting quotations

IF YOU REQUEST OTHER SERVICES PROVIDED BY ROBINHOOD THAT REQUIRE YOU TO AGREE TO SPECIFIC TERMS AND CONDITIONS ELECTRONICALLY (THROUGH CLICKS OR OTHER ACTIONS) OR OTHERWISE, SUCH TERMS AND CONDITIONS WILL BE DEEMED AN AMENDMENT AND WILL BE INCORPORATED INTO AND MADE PART OF THIS AGREEMENT.

Qualifications & exceptions

• Applies to other services provided by Robinhood that require specific terms and conditions.

Legal Rights & Agreement Rules · Restriction or exception

Submitting the application acknowledges a pre-dispute arbitration clause in Section 39

By clicking or tapping "Submit Application" you acknowledge that the Agreement contains a pre-dispute arbitration clause in Section 39. Section 39 provides that any controversy or claim arising out of or relating to the Agreement, any other agreement with Robinhood, any Account or any transaction in it is settled by arbitration before FINRA Dispute Resolution, Inc. under its rules. The full arbitration terms are explained in the Section 39 cards.

Supporting quotations

YOU ALSO UNDERSTAND THAT BY CLICKING OR TAPPING “SUBMIT APPLICATION” YOU HAVE ACKNOWLEDGED THAT THIS AGREEMENT CONTAINS A PREDISPUTE ARBITRATION CLAUSE IN SECTION 39 HEREIN.

shall be settled by arbitration before FINRA Dispute Resolution, Inc. (“FINRA DR”) in accordance with the rules of FINRA DR

Qualifications & exceptions

• The acknowledgment here is by clicking or tapping "Submit Application".

Legal Rights & Agreement Rules · Restriction or exception

You agree to listed disclosures incorporated by reference and acknowledge receipt of the Privacy Policy

By entering the Agreement you acknowledge receipt of the Robinhood Financial LLC Form CRS, and you acknowledge receipt of and agree to the terms of a list of documents: the Robinhood Terms and Conditions, RHF Use and Risk Disclosures, Robinhood Financial Product Features Disclosures, Extended Hours Trading Disclosure, ETF Disclosure, RHF Funds Availability, the RHF and RHS Business Continuity Plan Summary and the FINRA Public Disclosure Program. Those documents are incorporated by reference. The Robinhood Privacy Policy is only acknowledged as received; the sentence does not say it is incorporated. Elsewhere "Risk Disclosures" is defined as risk disclosure documentation available on the Website or Disclosure Library from time to time.

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you acknowledge receipt of and agree to the terms of the Robinhood Terms and Conditions, RHF Use and Risk Disclosures, Robinhood Financial Product Features Disclosures, Extended Hours Trading Disclosure, ETF Disclosure, RHF Funds Availability, RHF and RHS Business Continuity Plan Summary, and FINRA Public Disclosure Program, which are incorporated by reference into this Agreement

You also acknowledge receipt of the Robinhood Privacy Policy.

“Risk Disclosures” means the risk disclosure documentation available or referenced on the Website or the Disclosure Library from time to time.

Qualifications & exceptions

• The list is incorporated by reference; the Privacy Policy is listed only as received.
• The later definition of Risk Disclosures refers to documentation available from time to time, so those documents can change.

Not stated here

• The text of the incorporated documents is not part of this saved agreement and is not summarized here.

Legal Rights & Agreement Rules · Context

Opening an Account creates direct contracts with Robinhood Financial and Robinhood Securities

When you open or apply for an Account to use the Robinhood apps or website, you enter direct contractual relationships with both Robinhood Financial and Robinhood Securities. The "Platform" is defined broadly as the apps and website together with their programs, tools, features, functionality, services, transactions and Content. "Website" means robinhood.com and any other site through which Robinhood offers services.

Supporting quotations

you are entering into direct contractual relationships with Robinhood Financial and Robinhood Securities

collectively, the “Platform”

Qualifications & exceptions

• Applies when you open or apply to open an Account to access services on the App or Website.

Legal Rights & Agreement Rules · Restriction or exception

Robinhood gives no investment advice or recommendations unless agreed in writing; AI agent output is not advice

Robinhood and people acting for it do not give investment advice, recommend any security, transaction or order, or advise on the merits of any action or investment decision for your Account or holdings. The one exception is advice specifically agreed in writing and clearly identified by Robinhood as an individualized investment recommendation for you. Output of any AI agent is not investment advice or a Robinhood recommendation, and Robinhood does not review, adopt or endorse it, even when the output is phrased as a recommendation, opinion or strategy.

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does not provide any investment advice or recommend any particular security, transaction, or order, or other matter connected with your Account

unless specifically agreed upon in writing and clearly identified by Robinhood as an individualized investment recommendation for you

The output of any AI agent is not investment advice or a recommendation by Robinhood, and Robinhood does not review, adopt, or endorse it. This remains the case where such output is expressed as a recommendation, opinion, or strategy.

Qualifications & exceptions

• Exception only for an individualized recommendation specifically agreed in writing and clearly identified as such by Robinhood.
• Applies to AI agent output even when it is expressed as a recommendation, opinion or strategy.

Legal Rights & Agreement Rules · Company practice

Robinhood Securities clears your trades and carries your Account on a fully disclosed basis

Robinhood Financial introduces your Account to Robinhood Securities under a clearing agreement, and Robinhood Securities clears all transactions on a fully disclosed basis. Robinhood Securities carries your Account and is responsible for clearing and bookkeeping, but is not otherwise responsible for Robinhood Financial's conduct. Until you give written notice to the contrary, Robinhood Securities may accept from Robinhood Financial, without inquiry or investigation, orders to buy or sell securities, other instructions about your Account or its assets, and, for a Margin Account, instructions to buy on margin. It looks to Robinhood Financial rather than you for such orders and instructions, except that it delivers confirmations, statements and written notices directly to you (with copies or availability to Robinhood Financial) and looks to you or Robinhood Financial for delivery of margin, payment or securities. You agree to hold Robinhood Securities harmless from Losses arising from delivery or receipt of those communications, provided it acted as described.

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Robinhood Securities will clear all transactions, on a fully- disclosed basis

Robinhood Securities carries your Account and is responsible for the clearing and bookkeeping of transactions, but is not otherwise responsible for the conduct of Robinhood Financial

until receipt of written notice from you to the contrary, Robinhood Securities may accept from Robinhood Financial, without inquiry or investigation

You agree to hold Robinhood Securities harmless from and against any Losses arising in connection with the delivery or receipt of any such communication(s), provided Robinhood Securities has acted in accordance with the above.

Qualifications & exceptions

• Robinhood Securities may accept instructions from Robinhood Financial without inquiry until you give contrary written notice.
• The hold-harmless covers Losses from delivery or receipt of communications, and applies only if Robinhood Securities acted in accordance with the stated arrangement.
• The margin-purchase instructions apply if you have a Margin Account.

Legal Rights & Agreement Rules · Restriction or exception

Custodian owns the age-of-termination call; delaying it can have gift tax and benefit effects

The statutory age of termination varies by state, and you, not Robinhood, are responsible for finding the governing law, the age of termination and the Minor's eligibility. Unless you elect otherwise at account opening, Robinhood applies the default age of termination for custodial accounts created by irrevocable gift under the UTMA of your state of record. To choose a different permitted age, or if a specific contribution has a different age, you must notify Robinhood in writing; Robinhood may rely exclusively on that notice and need not verify statutory ages. Electing to defer termination beyond the Minor's 21st birthday makes the transfer a gift of a future interest, which may have adverse federal and state gift tax consequences, and you are told to consult an attorney or tax advisor. Custodial assets may count as the Minor's resources for means-tested benefits such as SSI and Medicaid, and ending a custodianship may suddenly raise those resources; you are responsible for understanding this and consulting advisors.

Supporting quotations

You are responsible for determining the governing law, the age of termination, and the Minor’s eligibility; Robinhood is not responsible for doing so.

Robinhood will apply the default age of termination for custodial accounts established by irrevocable gift under the UTMA of your state of record

Robinhood may rely exclusively on your notification and has no obligation to verify statutory ages for any contribution.

electing to defer termination of custodianship beyond the Minor’s attainment of twenty-one (21) years of age will cause the transfer to be a gift of a future interest which may have adverse federal and state gift tax consequences

You are responsible for understanding how Custodial Account assets may affect such eligibility and for consulting appropriate advisors regarding any potential impact.

Qualifications & exceptions

• Robinhood relies exclusively on your written notification of a non-default age and does not verify statutory ages.
• The gift-tax warning applies to deferring termination past age 21.

Legal Rights & Agreement Rules · Restriction or exception

The Custodian certifies the assets are for the Minor; Robinhood owes no fiduciary duty and does not monitor use

By acting as Custodian you certify that Account assets are for the exclusive benefit of the Minor. Robinhood has no obligation to monitor your fiduciary compliance or what happens to withdrawn assets, is not the custodian and owes no fiduciary duties to you or the Minor. If a Custodian cannot serve, Robinhood may rely on statutory successor provisions and restrict the Account until authority is established. Robinhood may also administratively update the account's descriptive registration or statutory reference to reflect state-law changes (for example from UGMA to UTMA) without changing ownership, the age of termination or the irrevocable nature of the gift.

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By acting as Custodian, you certify that assets in the Account are for the exclusive benefit of the Minor.

Robinhood does not have an obligation to monitor your fiduciary compliance or the use of withdrawn assets. Robinhood is not the custodian of the Account and owes no fiduciary duties to you or the Minor.

If a Custodian is unable to serve, Robinhood may rely on statutory successor provisions and restrict the Account until authority is established.

Robinhood may also administratively update your account’s descriptive registration or statutory reference to reflect state law transitions

Qualifications & exceptions

• Registration updates are limited to descriptive or statutory references and do not change ownership, age of termination or irrevocability.

Legal Rights & Agreement Rules · Restriction or exception

Each Donor represents the gift is voluntary and irrevocable, with no rights in the account

By making a gift, each Donor represents that the gift is voluntary, completed and irrevocable; that the Donor obtains no rights in the Custodial Account and cannot direct investments; that the funds come from lawful sources; that the Donor is responsible for any tax consequences; and that the Donor may not revoke, recall or reclaim the gift except as required by Applicable Law.

Supporting quotations

(a) the gift is voluntary, completed, and irrevocable; (b) the Donor obtains no rights in the Custodial Account and may not direct investments

(d) the Donor is responsible for any tax consequences; and (e) the Donor may not revoke, recall, or reclaim the gift except as required by Applicable Law

Qualifications & exceptions

• The only stated exception to non-revocation is where Applicable Law requires it.

Legal Rights & Agreement Rules · Restriction or exception

Equity Gift purchases are not Robinhood advice; the Custodian is responsible that they are prudent for the Minor

Robinhood's execution of purchases under your standing instruction is not investment advice, a recommendation or a suitability determination. By opting into Equity Gifting you represent that you have independently evaluated such securities and you alone are responsible for making sure all purchases are prudent investments for the Minor under your fiduciary duties under Applicable Law.

Supporting quotations

does not constitute investment advice, a recommendation, or a suitability determination

you represent that you have independently evaluated such securities and are solely responsible for ensuring that all purchases are prudent investments for the Minor in accordance with your fiduciary duties under Applicable Law

Legal Rights & Agreement Rules · Restriction or exception

Support assistance is limited to explaining or entering information and is not investment advice

When you ask Robinhood for support, help or assistance in any form about the Platform, its services, investment tools or anything else it provides (a "Support Request"), the assistance is limited to functional or operational explanation and, if you ask, entering or correcting information or variables you provided. It does not constitute investment advice, an opinion on the suitability of any transaction, or solicitation of orders.

Supporting quotations

that Support Request and assistance provided relating to it will be limited to functional or operational explanation or assistance and, if requested by you, to the entry or correction by Robinhood or its Representatives of information or variables provided by you

does not constitute investment advice, an opinion with respect to the suitability of any transaction, or solicitation of any orders

Qualifications & exceptions

• Data entry or correction by Robinhood is limited to information or variables you provided and only if you request it.

Legal Rights & Agreement Rules · Restriction or exception

Robinhood does not give tax, legal, financial or accounting advice

Robinhood does not provide you any advice, and in particular no tax, legal, financial or accounting advice. You are encouraged to consult your own tax advisor or attorney.

Supporting quotations

Robinhood does not provide any advice to you, and in particular Robinhood does not provide any tax, legal, financial, or accounting advice.

You are encouraged to consult your own tax advisor or attorney.

Legal Rights & Agreement Rules · Restriction or exception

You release Robinhood from claims over releasing, or not releasing, information to a Trusted Contact

Robinhood is released and discharged from all claims, causes of action, damages, losses, expenses, costs and liabilities of any kind arising out of or connected with releasing, or failing to release, personal or account information to the Trusted Contact Person or Persons.

Supporting quotations

Robinhood is released and discharged from all claims, causes of action, damages, losses, expenses, costs and liabilities of any kind that may arise out of, relate to, or are in connection with the release of, or failure to release, personal and/or account information to the Trusted Contact Person(s).

Qualifications & exceptions

• The release covers both disclosing and failing to disclose information to the Trusted Contact.

Legal Rights & Agreement Rules · Restriction or exception

You certify sanctions compliance: not an OFAC-designated person or tied to a sanctioned regime

You acknowledge that Robinhood has OFAC sanctions compliance obligations and that the Agreement and your Account are subject to U.S. sanctions laws. You will not permit your Account or sub-accounts to be used in a way that violates them. You represent and warrant that you are not designated by OFAC as a Specially Designated National, have no reason to believe you would be treated as a blocked person, and are not acting as an agent of any such person. Where OFAC has imposed restrictive measures on a government or regime, you further warrant that you are not employed by or acting as an agent of an entity owned or controlled by a sanctioned regime, a government-controlled entity of it, or a government corporation of it.

Supporting quotations

this Agreement, your Account, and any sub-accounts are subject to U.S. sanctions laws, rules, and regulations where you will not permit your Account or sub-accounts to be used in a manner that would cause a violation of the above referenced laws, rules, and regulations

you have not been designated by OFAC as a Specially Designated National (“SDN”), that you have no reason to believe that you would be considered a blocked person by OFAC, and that you are not acting as an agent of any such person

(2) a government-controlled entity of a sanctioned regime, or (3) a government corporation of a sanctioned regime

Qualifications & exceptions

• The sanctioned-regime warranty applies where OFAC has promulgated restrictive measures against a government or regime.

Legal Rights & Agreement Rules · Restriction or exception

All transactions follow Applicable Laws, and Robinhood need not act where it believes that could violate law

All transactions in your Account are subject to all Applicable Laws. Robinhood is never obligated to effect a transaction, provide a service or take an action that it believes would or might violate or be contrary to applicable laws. The test is Robinhood's belief that an action "would or might" violate law.

Supporting quotations

All transactions in your Account will be subject to all Applicable Laws.

In no event will Robinhood be obligated to effect any transaction or provide any service or take any action that it believes would or might violate or be contrary to any applicable laws.

Qualifications & exceptions

• The threshold is Robinhood's belief that the action would or might violate law, not a finding that it does.

Legal Rights & Agreement Rules · Restriction or exception

Robinhood services are used at your sole risk and provided "as is" without warranties

You agree that using the Platform or any other service from Robinhood or its Affiliates is at your sole risk. Robinhood services, including the Platform, Market Data, Content and any other information from Robinhood, an Affiliate or any third-party content or market data provider, are provided "as is" and "as available" without warranties of any kind, express, implied or statutory. That covers timeliness, truthfulness, sequence, completeness, accuracy, freedom from interruption, implied warranties from trade usage, course of dealing or performance, and the implied warranties of merchantability or fitness for a particular purpose. The exception is warranties implied by law that cannot be excluded, restricted or modified under the laws applicable to the Agreement.

Supporting quotations

You agree that your use of the Platform or any other service provided by Robinhood or its Affiliates is at your sole risk.

is provided on an "as is," "as available" basis without warranties of any kind, either express or implied, statutory

other than those warranties which are implied by and incapable of exclusion, restriction or modification under the laws applicable to this Agreement

Qualifications & exceptions

• Does not disclaim warranties that are implied by law and incapable of exclusion, restriction or modification.

Legal Rights & Agreement Rules · Restriction or exception

Beta features are experimental, unwarranted and can be changed or discontinued at any time

Robinhood may from time to time offer new "beta" features or tools for users to experiment with. They are offered solely for experimental purposes without warranty of any kind and may be modified or discontinued at Robinhood's sole discretion. The warranty disclaimers in this section apply with full force to them.

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Such features or tools are offered solely for experimental purposes and without any warranty of any kind, and may be modified or discontinued at Robinhood’s sole discretion.

The provisions of this section apply with full force to such features or tools.

Legal Rights & Agreement Rules · Restriction or exception

Robinhood Parties are not responsible for losses from service interruptions, unless they violate the Agreement or rules

Robinhood works to make the Platform and other channels available around the clock but does not guarantee they will be available and error free at all times; interruptions for maintenance, Platform changes or system failures may occur. Robinhood, its Affiliates, their officers, directors, employees and agents, and the Providers (the "Robinhood Parties") will not be responsible to you or third parties for Losses from such interruptions, which are defined to include claims, damages, actions, demands, investment losses and costs, charges and attorneys' fees. The exception is where the loss results from a violation of the Agreement, Applicable Rules or applicable standards of conduct. The provision does not restrict your ability to bring any claim you would otherwise be entitled to bring against the Robinhood Parties in any forum, including arbitration.

Supporting quotations

Robinhood does not guarantee that these channels will be available and error free every minute of the day. Interruptions of service due to maintenance, Platform changes or system failures may occur.

WILL NOT BE RESPONSIBLE TO YOU OR TO THIRD PARTIES FOR ANY LOSSES YOU INCUR

EXCEPT WHERE SUCH LOSS RESULTS FROM VIOLATION OF THIS AGREEMENT, APPLICABLE RULES, OR APPLICABLE STANDARDS OF CONDUCT

THIS PROVISION DOES NOT RESTRICT OR LIMIT IN ANY WAY YOUR ABILITY TO BRING ANY CLAIM IN ANY FORUM, INCLUDING IN ARBITRATION, AGAINST ROBINHOOD PARTIES THAT YOU WOULD OTHERWISE BE ENTITLED TO BRING.

Qualifications & exceptions

• The exception covers loss resulting from violation of the Agreement, Applicable Rules or applicable standards of conduct.
• Your right to bring claims you could otherwise bring, in any forum including arbitration, is preserved.

Legal Rights & Agreement Rules · Restriction or exception

Robinhood Parties are not responsible for losses from extraordinary events outside their control, as the law permits

To the extent permitted by applicable law, the Robinhood Parties will not be responsible to you or third parties for Losses caused by extraordinary events outside their control or that they did not cause. Examples listed, which are not exhaustive, include government or market restrictions, trading suspensions, actions of an exchange or self-regulatory organization, high market volatility or trading volume, armed conflicts, natural disasters, power outages, network or system failures, unforeseeable software or hardware malfunctions, computer viruses, message interruption, and unauthorized access or security breach.

Supporting quotations

TO THE EXTENT PERMITTED BY APPLICABLE LAW, THE ROBINHOOD PARTIES WILL NOT BE RESPONSIBLE TO YOU OR TO THIRD PARTIES FOR ANY LOSSES YOU INCUR

BY REASON OF EXTRAORDINARY EVENTS OUTSIDE OF THEIR CONTROL OR THAT THEY DID NOT CAUSE INCLUDING, BUT NOT LIMITED TO

NETWORK OR SYSTEM FAILURES, UNFORSEEABLE SOFTWARE OR HARDWARE MALFUNCTIONS, COMPUTER VIRUSES, MESSAGE INTERRUPTION, AND INSTANCES OF UNAUTHORIZED ACCESS OR BREACH OF SECURITY

Qualifications & exceptions

• Applies only "to the extent permitted by applicable law".
• The event list is introduced by "including, but not limited to", and includes unauthorized access or security breach.

Legal Rights & Agreement Rules · User right or choice

The liability provisions do not limit claims you may bring or awards you may receive under FINRA rules or law

Laws differ by jurisdiction. Robinhood's responsibility as stated in this section does not limit your rights under FINRA rules or regulations or applicable law to bring a claim against Robinhood in any forum, including arbitration, that you would be entitled to bring under applicable law, or to receive an award or judgment from Robinhood that you would be entitled to receive under FINRA rules or regulations or applicable law.

Supporting quotations

Robinhood’s responsibility provided for in this section shall not be construed as limiting your rights under FINRA rules or regulations or under applicable law to (i) bring a claim against Robinhood in any forum, including arbitration, that you would be entitled to bring under applicable law or (ii) receive an award or judgment from Robinhood that you would be entitled to receive under FINRA rules or regulations or under applicable law.

Qualifications & exceptions

• Preserves claims and awards you are otherwise entitled to under applicable law or FINRA rules.

Cross-references

• qualifies (model-proposed): Robinhood Parties are not responsible for losses from extraordinary events outside their control, as the law permits — qualifies: The statement that Robinhood's responsibility provisions do not limit rights to bring claims or receive awards under FINRA rules or applicable law qualifies the extraordinary-events non-responsibility clause, which applies only to the extent permitted by applicable law.

Legal Rights & Agreement Rules · Restriction or exception

You must indemnify Robinhood and related parties for Losses from seven listed causes, except for their own violations

Except as otherwise provided by law, Robinhood, its affiliates and their partners, officers, directors, employees and agents ("Indemnified Parties") have no liability for, and you agree to indemnify, defend and hold them harmless from, all Losses that result from: your noncompliance with the Agreement; third-party actions about your receipt and use of Market Data, Content or other third-party content, whether authorized or not; third-party actions about your use of the Platform; your or your agent's misrepresentation, act or omission; the Indemnified Parties following your or your agent's directions, or failing to follow unlawful or unreasonable ones; their activities or services for your Account, including technology, reporting, trading, research or capital introduction services; and failure by someone they do not control to perform obligations to you. This does not apply to the extent Losses result from the Indemnified Parties' violation of the Agreement, Applicable Rules or applicable standards of conduct. If you let third parties access Robinhood's services, including your Account, you also indemnify the Indemnified Parties against claims by those third parties about that access, and Robinhood does not warrant against losses caused by your express or implied assent to third-party access.

Supporting quotations

Except as otherwise provided by law, Robinhood or any of its affiliates or respective partners, officers, directors, employees or agents (collectively, “Indemnified Parties”) shall have no liability for, and you agree to indemnify, defend and hold harmless the Indemnified Parties from all Losses that result from

(vi) any activities or services of the Indemnified Parties in connection with your Account (including any technology services, reporting, trading, research or capital introduction services)

except to the extent such Losses result from the Indemnified Parties’ violation of this Agreement, Applicable Rules, or applicable standards of conduct

if you authorize or allow third parties to gain access to Robinhood's services, including your Account, you will indemnify, defend and hold harmless the Indemnified Parties against any Losses arising out of claims or suits by such third parties based upon or relating to such access and use

Qualifications & exceptions

• Applies "except as otherwise provided by law" and except to the extent Losses result from the Indemnified Parties' own violation of the Agreement, Applicable Rules or standards of conduct.
• The causes include Robinhood's own activities or services in connection with your Account, subject to the violation exception.

Legal Rights & Agreement Rules · Restriction or exception

Indemnified Parties disclaim third-party and outside-cause losses, but seek no indemnity for their own violations

Indemnified Parties have no responsibility to you for how an exchange, clearing organization, market data provider or other third party (including other broker-dealers, clearing firms and banks) or their agents or affiliates perform obligations relating to securities. They are not responsible to you or third parties for Losses, including special, indirect, incidental, consequential, punitive or exemplary losses such as lost profits and trading losses, resulting from a cause outside their control, including mechanical equipment failure, unauthorized access, theft, operator errors, government restrictions, force majeure, market data availability or quality, exchange rulings or suspension of trading. The Agreement does not seek indemnification for costs or penalties resulting from the Indemnified Parties' own violation of the securities laws or FINRA Rules.

Supporting quotations

Indemnified Parties will have no responsibility to you in connection with the performance or non-performance by any exchange, clearing organization, market data provider, or other third party (including other broker-dealers and clearing firms, and banks)

Indemnified Parties will not be responsible to you or to third parties for: any Losses (including special, indirect, incidental, consequential, punitive or exemplary (including lost profits, trading losses and damages)) resulting from a cause outside the control of the Indemnified Parties

This Agreement does not seek indemnification for costs or penalties resulting from the Indemnified Parties’ own violation of the securities laws or FINRA Rules.

Qualifications & exceptions

• The causes list is introduced by "including" and the list is not exhaustive.
• Costs or penalties from the Indemnified Parties' own securities-law or FINRA violations are carved out of the indemnification sought.

Legal Rights & Agreement Rules · User right or choice

The indemnity does not limit claims you may bring or awards you may receive under FINRA rules or law

Laws differ by jurisdiction. The indemnity in this section does not limit your rights under FINRA rules or regulations or applicable law to bring a claim against Robinhood in any forum, including arbitration, that you would be entitled to bring, or to receive an award or judgment from Robinhood that you would be entitled to receive.

Supporting quotations

The indemnity provided for in this section shall not be construed as limiting your rights under FINRA rules or regulations or under applicable law to (i) bring a claim against Robinhood, in any forum, including arbitration, that you would be entitled to bring under applicable law or (ii) receive an award or judgment from Robinhood that you would be entitled to receive under FINRA rules or regulations or under applicable law.

Qualifications & exceptions

• Preserves claims and awards you are otherwise entitled to under applicable law or FINRA rules.

Legal Rights & Agreement Rules · Restriction or exception

Robinhood may refuse orders on an attached or sequestered Account and need not contest the legal process

Robinhood is not liable for refusing to follow orders given by or for you on an Account that is subject to an attachment or sequestration in a legal proceeding against you, and has no obligation to contest the validity of the attachment or sequestration.

Supporting quotations

Robinhood shall not be liable for refusing to obey any orders given by or for you with respect to your Account that has or have been subject to an attachment or sequestration in any legal proceeding against you, and Robinhood shall be under no obligation to contest the validity of any such attachment or sequestration.

Legal Rights & Agreement Rules · Restriction or exception

You are responsible for declaring and paying your own taxes and warrant you will comply with tax laws

You acknowledge it is your responsibility to declare and pay any income, gains or similar to all applicable tax authorities, make tax filings and pay all taxes and duties when due in all applicable jurisdictions. You undertake and warrant to Robinhood that you will do so and will fully comply with all tax laws and obligations that apply to you.

Supporting quotations

You acknowledge that it is your responsibility to declare and pay any income, gains, or similar to all applicable tax authorities, make any tax filings, and to pay any and all taxes, duties, or similar (“tax”) when due in all applicable jurisdictions.

You undertake and warrant to Robinhood that you will do so and will comply in full with all applicable tax laws and obligations to which you are subject.

Legal Rights & Agreement Rules · Restriction or exception

U.S. persons certify their taxpayer ID and non-backup-withholding status; wrong or missing TIN can bring withholding

If you are a U.S. person you certify, under penalties of perjury, that the taxpayer identification number you provided or will provide (including on any Form W-9) is correct, that you are not subject to backup withholding, and that you are a United States Person as defined in section 7701(a)(30) of the Internal Revenue Code. If a correct TIN is not provided to Robinhood Financial, you understand you may be subject to backup withholding at the appropriate rate on all dividends, interest and gross proceeds paid to you. Backup withholding taxes go to the IRS and cannot be refunded by Robinhood Financial. If you waive tax withholding and do not pay enough estimated taxes to the IRS, you may be subject to tax penalties.

Supporting quotations

This subsection is applicable if you are a U.S. person.

Under penalties of perjury, you certify that the taxpayer identification number that you have provided or will provide to Robinhood (including any taxpayer identification number on any Form W-9 that you have provided or will provide to Robinhood) is your correct taxpayer identification number.

If a correct Taxpayer Identification Number is not provided Robinhood Financial, you understand you may be subject to backup withholding tax at the appropriate rate on all dividends, interest and gross proceeds paid to you.

Backup withholding taxes are sent to the IRS and cannot be refunded by Robinhood Financial.

Qualifications & exceptions

• Applies if you are a U.S. person; subsection 18.4 applies to non-U.S. persons.
• The certification is made under penalties of perjury.

Legal Rights & Agreement Rules · Restriction or exception

Opinions and recommendations from API Licensees are theirs, and Robinhood does not endorse them

Opinions or recommendations from Licensee Products or API Licensees are expressed solely by the Licensees and are not Robinhood's. The existence of API Products, and Robinhood's consent to connectivity between a Licensee Product and its technology, the Platform or trading platforms, is not a recommendation to invest or use any strategy, nor a representation or guarantee about the present or future value or suitability of any transaction. Information, tools and services from API Licensees or Licensee Products are not Robinhood's endorsement of them.

Supporting quotations

such opinions and recommendations are expressed solely by API Licensees and are not the opinions or recommendations of Robinhood

does not constitute (i) any recommendation by Robinhood to invest in any security or utilize any investment strategy; or (ii) any representation, warranty, or other guarantee by Robinhood as to the present or future value or suitability of any sale, trade, or other transaction involving any particular security or any other investments

shall not constitute Robinhood’s endorsement of API Licensees or the Licensee Products

Legal Rights & Agreement Rules · Restriction or exception

Robinhood is not liable for API technical issues, API Licensee research, or accuracy of API data

You agree that Robinhood or its Affiliates are not liable for Losses from the issues addressed in this Section, or for Losses from technical issues involving any API Products or API Licensee technology or offerings, including outages or downtime. They are not responsible for investment research provided by any API Licensee or Licensee Product, and make no representations, warranties or guarantees about the accuracy, timeliness or efficacy of any market data, information or functionality made available by an API Licensee or API Products.

Supporting quotations

Without limiting the generality of any other terms in this Agreement, you agree that:

Robinhood or its Affiliates shall not be liable for any Losses as a result of any issues addressed in this Section, nor shall Robinhood or its Affiliates be liable for any Losses realized for technical issues involving any API Products or API Licensee technology or product offerings (including system outages or downtime).

Robinhood or its Affiliates shall not be responsible for any investment research provided by any API Licensee or any Licensee Products.

Robinhood or its Affiliates makes no representations, warranties or other guarantees as to the accuracy, timeliness or efficacy of any market data, information, or other functionality made available by any API Licensee or any API Products.

Qualifications & exceptions

• These statements are made "without limiting the generality of any other terms in this Agreement".

Legal Rights & Agreement Rules · Restriction or exception

If you are subject to trading policies, you warrant your AI agent use complies and you must build in the controls

If you are an associated person of a FINRA member, associated with a registered investment adviser, or otherwise subject to employer, regulatory or institutional policies on personal trading or automated trading tools, you represent that your AI agent use complies and will continue to comply with those policies, including pre-clearance, reporting, supervisory, outside-account or compliance-system requirements. You alone must build into your AI agent any controls, restrictions or notifications needed to meet those obligations, including for an agent that operates autonomously or without your contemporaneous review. Robinhood has no obligation to identify, monitor or enforce those policies and is not liable for any violation arising from your AI agent use.

Supporting quotations

You represent that, if you are an associated person of a FINRA member, a person associated with a registered investment adviser, or are otherwise subject to employer, regulatory, or institutional policies governing your personal trading or your use of automated trading tools, your use of any AI agent in connection with your Account complies, and will continue to comply, with all such policies

You are solely responsible for implementing within your AI agent any controls, restrictions, or notifications necessary to satisfy those obligations

Robinhood has no obligation to identify, monitor, or enforce any such policies, and shall have no liability for any violation arising out of your use of an AI agent.

Qualifications & exceptions

• Applies if you are an associated person or otherwise subject to such policies.

Legal Rights & Agreement Rules · Restriction or exception

You are solely responsible for AI agent trading complying with law, including market manipulation rules

You alone must ensure all activity through an AI agent complies with Applicable Law, including prohibitions on market manipulation, spoofing, layering, wash trading, marking the close and other manipulative or disruptive practices under the federal securities laws and the rules of FINRA and any applicable exchange or self-regulatory organization. You acknowledge that orders and trading patterns produced by an AI agent, including one operating autonomously or without your contemporaneous review, may amount to such conduct, and you assume full responsibility for it whether or not you intended it.

Supporting quotations

You are solely responsible for ensuring that all activity conducted in your Account through an AI agent complies with Applicable Law, including, without limitation, prohibitions on market manipulation, spoofing, layering, wash trading, marking the close, and other manipulative or disruptive trading practices

you assume full responsibility for the same regardless of whether such conduct was intended by you

Qualifications & exceptions

• Responsibility applies regardless of whether the conduct was intended by you.

Legal Rights & Agreement Rules · Restriction or exception

Your electronic signature binds you, electronic notice suffices, and Robinhood's stored copy is the record

You agree to transact business with Robinhood electronically. Electronically signing an Account application is valid evidence of your consent to be legally bound by the Agreement and later terms governing Robinhood's services. An electronic version satisfies any requirement that a document be in writing, and you accept electronic notice as reasonable and proper under any law. Robinhood may modify the Agreement from time to time and you agree to check the Website for the latest version. Robinhood's electronically stored copy is the true, complete, valid, authentic and enforceable record, admissible in judicial or administrative proceedings as if printed, and you agree not to contest its admissibility or enforceability.

Supporting quotations

By electronically signing an application for an Account, you acknowledge and agree that such electronic signature is valid evidence of your consent to be legally bound by this Agreement and such subsequent terms as may govern the use of Robinhood’s services.

You accept notice by electronic means as reasonable and proper notice, for the purpose of any and all laws, rules and regulations.

Robinhood may modify this Agreement from time to time and you agree to consult the Website from time to time for the most up-to-date Agreement.

You agree to not contest the admissibility or enforceability of Robinhood’s electronically stored copy of the Agreement.

Qualifications & exceptions

• You agree not to contest the admissibility or enforceability of Robinhood's electronically stored copy.

Legal Rights & Agreement Rules · Permission or license

By enrolling you let a vendor act as your agent and attorney-in-fact on claims and accept the settlement releases

Robinhood uses a third-party vendor to administer the Class Action Service. By enrolling, you agree Robinhood may appoint the vendor as your agent and attorney-in-fact with full power to act for you, to the full extent you could act in person, to prepare, file, accept and process class action claims and settlement payments, including accepting, endorsing, depositing and dealing with any check, instrument or other payment from a claims administrator. You also agree to be bound by the releases in any settlement for which the Class Action Service filed a claim for you.

Supporting quotations

By enrolling in the Class Action Service, you agree that we have the authority to appoint this third-party vendor as your agent and attorney-in-fact with full power and authority to act on your behalf (to the full extent you could act in person) to prepare, file, accept, and process class action claims and settlement payments

including to accept, endorse, deposit and otherwise deal with any check, instrument, or other payment from a claims administrator

you will be bound by the releases included in any settlement for which the Class Action Service has filed a claim on your behalf

Qualifications & exceptions

• The vendor acts as your agent and attorney-in-fact with full power for these class action purposes.

Legal Rights & Agreement Rules · Restriction or exception

Once the service files a claim, you cannot sue the defendants separately or file your own claim form

You agree you cannot at any time separately sue any named defendant over a particular class action for which the Class Action Service filed a claim for you. Once it files a claim, you will not assert dissenters' or similar rights under Applicable Law, any right to require partition or appraisal of the company that is the subject of the class action or its assets or to force a sale of its property, or any right to maintain an action for partition or compel a sale concerning shares held by other shareholders or the company's property. You also agree not to separately submit a claim form directly to a claims administrator for any settlement in which a claim is filed for you through the service.

Supporting quotations

You agree that you cannot separately bring a lawsuit, at any time, against any named defendant in connection with a particular class action lawsuit for which the Class Action Service has filed a claim for you.

you will not assert: (i) any dissenters' or similar rights under any Applicable Law; (ii) any right to require partition or appraisal of any company that is the subject of the class action lawsuit

you will not separately submit a claim form directly to a claims administrator for any class action settlement in which a claim is filed for you through the Class Action Service

Qualifications & exceptions

• Applies to class actions for which the Class Action Service has filed a claim for you.

Legal Rights & Agreement Rules · Restriction or exception

Class action participation is not guaranteed, you indemnify Robinhood, and notices are Account Documents

Enrollment does not guarantee a settlement payment. Neither Robinhood nor its Affiliates take responsibility for the outcome of any class action, and you agree to indemnify and hold harmless Robinhood and its Affiliates for all actions taken in connection with the Class Action Service. Class action event notifications are Account Documents and are delivered under Section 34, under which Account Documents are deemed delivered when sent or posted whether or not you receive them.

Supporting quotations

Enrollment in the Class Action Service does not guarantee that you will receive a settlement payment for any class action lawsuit.

you agree to indemnify and hold harmless Robinhood and its Affiliates for all actions taken in connection with the Class Action Service

Class action event notifications sent in connection with the Class Action Service constitute Account Documents and will be delivered to you in accordance with Section 34 of this Agreement.

You agree that all Account Documents provided to you in any of the foregoing manners are considered delivered to you personally when sent or posted by Robinhood, whether you receive it or not.

Qualifications & exceptions

• The indemnity covers all actions taken in connection with the Class Action Service.

Legal Rights & Agreement Rules · Context

Headings do not change meaning, "including" means without limitation, and references to law include later amendments

Headings are for description only and do not modify or qualify rights or obligations or help interpret provisions. A reference to a Section means a Section of the Agreement unless otherwise indicated. "Include", "includes" and "including" are followed by "without limitation", and "or" is inclusive (and/or). Unless context requires otherwise, singular includes plural and the reverse, and "hereof", "herein" and "hereunder" refer to the entire Agreement. References to any law mean that law as amended from time to time and its rules and regulations. "Days" means calendar days unless indicated otherwise.

Supporting quotations

The heading of each provision hereof is for descriptive purposes only and shall not be (1) deemed to modify or qualify any of the rights or obligations set forth herein or (2) used to construe or interpret any of the provisions hereunder.

Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.”

References to any law shall be deemed to refer to such law as amended from time to time and to any rules or regulations promulgated thereunder. References to “days” means calendar days unless indicated otherwise.

Qualifications & exceptions

• Headings are not to be used to interpret the provisions, so section titles do not limit the text under them.

Legal Rights & Agreement Rules · Restriction or exception

The Agreement binds your heirs and successors; you need consent to assign it, Robinhood does not

The Agreement binds your heirs, assigns, executors, successors, conservators and administrators. You may not assign the Agreement or any of your rights or obligations without Robinhood's prior written consent. Robinhood may assign, sell or transfer your Account and the Agreement, or any portion, at any time without your prior consent.

Supporting quotations

This Agreement shall bind your heirs, assigns, executors, successors, conservators and administrators.

You may not assign this Agreement or any rights or obligations under this Agreement without first obtaining Robinhood’s prior written consent.

Robinhood may assign, sell, or transfer your Account and this Agreement, or any portion thereof, at any time, without your prior consent.

Qualifications & exceptions

• The asymmetry: your assignment needs Robinhood's prior written consent, while Robinhood's assignment needs none.

Legal Rights & Agreement Rules · Restriction or exception

Provisions inconsistent with law or found unenforceable are modified, and the rest stays in force

If any provision becomes inconsistent with present or future law, rule or regulation of an applicable government, regulatory or self-regulatory body, or a court of competent jurisdiction finds it invalid or unenforceable, it is deemed rescinded or modified, to the extent applicable law permits, to comply or be valid and enforceable. In all other respects the Agreement continues in full force.

Supporting quotations

such provisions shall be deemed rescinded or modified, to the extent permitted by applicable law, to make this Agreement in compliance with such law, rule or regulation, or to be valid and enforceable, but in all other respects, this Agreement shall continue in full force and effect

Legal Rights & Agreement Rules · Restriction or exception

You must monitor Website postings and are bound by the most current terms in effect when you use the Platform

Robinhood may post other agreements, disclosures, policies, procedures, terms and conditions on the Website or in the Disclosure Library from time to time, including updates or amendments to the Agreement or to incorporated or referenced agreements and Risk Disclosures ("Website Postings"). You must continually monitor the Website and Disclosure Library and understand the Website Postings. You agree to be bound by the Website Postings, and the most current version of the Agreement, in effect when you access or use the Platform or give any order or instruction.

Supporting quotations

Robinhood may post other specific agreements, disclosures, policies, procedures, terms, and conditions that apply to your use of the Platform or your Account, on the Website from time to time including in the Disclosure Library

it is your continuing obligation to monitor the Website and the Disclosure Library for Website Postings and to understand the terms of the Website Postings

You agree to be bound by the Website Postings (and the most current version of this Agreement) as are in effect at the time of your access or use of the Platform or the giving of any order or instruction relating to your Account.

Qualifications & exceptions

• Bound by whatever is in effect at the time of access, use, or giving an order or instruction.

Legal Rights & Agreement Rules · Restriction or exception

The Agreement, referenced documents and statement terms are the entire agreement; consistent others survive

The Agreement, its attachments, other agreements and policies it refers to (including Website Postings and Risk Disclosures), and the terms in your Account statements and confirmations contain the entire agreement between you and Robinhood and supersede all prior or contemporaneous communications and proposals, electronic, oral or written. Any other agreements between you and Robinhood that are not inconsistent with the Agreement remain in full force.

Supporting quotations

This Agreement, any attachments hereto, other agreements and policies referred to in this Agreement (including the Website Postings and Risk Disclosures), and the terms and conditions contained in your Account statements and confirmations, contain the entire agreement between Robinhood and you

supersede all prior or contemporaneous communications and proposals, whether electronic, oral, or written

any and all other agreements between Robinhood and you, not inconsistent with this Agreement, will remain in full force and effect

Qualifications & exceptions

• Other agreements survive only to the extent they are not inconsistent with this Agreement.

Legal Rights & Agreement Rules · Permission or license

Robinhood may amend the Agreement at any time without prior notice; continued activity is acceptance

Robinhood may at any time amend the Agreement and any agreement or document incorporated or referenced in it without prior notice to you. The current version is posted in the Disclosure Library, and continued Account activity, including accessing the Platform or submitting an order or instruction, after an amendment is agreement to be bound by all amendments then in effect, whether or not you reviewed them. Continued use of the Platform or other services after posting is acknowledgment and acceptance. You must regularly consult the Website and Disclosure Library for modifications. Robinhood is not bound by verbal statements seeking to amend the Agreement. Any communication from you purporting to amend the terms or impose other terms on Robinhood takes effect only if agreed in writing and signed by one of Robinhood's authorized signatories.

Supporting quotations

Robinhood may at any time amend this Agreement and any other agreement or document incorporated or referenced in this Agreement without prior notice to you.

your continued Account activity (including accessing the Platform or submitting an order or instruction) after such amendment constitutes your agreement to be bound by all then-in-effect amendments to the Agreement, regardless of whether you have actually reviewed them

Robinhood is not bound by any verbal statements that seek to amend the Agreement.

will only take effect if agreed to in writing and signed by one of our authorized signatories

Qualifications & exceptions

• No prior notice is required; the amended text is posted in the Disclosure Library.
• Your own proposed changes need a writing signed by an authorized Robinhood signatory.

Legal Rights & Agreement Rules · Restriction or exception

Robinhood's delay or non-enforcement is not a waiver, and its remedies are cumulative

Robinhood's failure to insist on strict compliance, delay or failure to exercise a power or right, or a continued course of such conduct, is never a waiver, and a single or partial exercise does not preclude further exercise. All rights and remedies given to Robinhood are cumulative and not exclusive of others it is entitled to.

Supporting quotations

Robinhood’s failure to insist at any time upon strict compliance with any term contained in this Agreement, or any delay or failure on Robinhood’s part to exercise any power or right given to Robinhood in this Agreement, or a continued course of such conduct on Robinhood’s part, shall at no time operate as a waiver of such power or right

All rights and remedies given to Robinhood in this Agreement are cumulative and not exclusive of any other rights or remedies to which Robinhood is entitled.

Legal Rights & Agreement Rules · Restriction or exception

California law governs the Agreement and transactions, except where securities law or market rules govern

The Agreement and all transactions in your Account are governed by California law, without regard to its choice of law rules, except to the extent governed by the federal securities laws, FINRA Rules, and the regulations, customs and usage of the exchanges or markets (and their clearing houses) where transactions are executed.

Supporting quotations

This Agreement and all transactions made in your Account shall be governed by the laws of the State of California (regardless of the choice of law rules thereof)

except to the extent governed by the federal securities laws, FINRA Rules, and the regulations, customs and usage of the exchanges or market (and its clearing house) on which transactions are executed

Qualifications & exceptions

• California law applies except to the extent federal securities laws, FINRA Rules and exchange or market regulations, customs and usage govern.

Cross-references

• contrast (model-proposed): The NYSE agreement is governed by New York law, is not assignable, and is accepted by agreeing — contrast: Section 38 applies California law to the Agreement and transactions, while the NYSE Market Data Agreement in Appendix 1 applies New York law to itself. The Addendum incorporates Section 38 but the NYSE agreement is also a separate contract with its own governing law.

Legal Rights & Agreement Rules · Restriction or exception

Arbitration disclosure: you give up court and jury, awards are final, discovery is limited

The Agreement contains a pre-dispute arbitration clause. All parties give up the right to sue each other in court, including a jury trial, except as the arbitration forum's rules provide. Awards are generally final and binding, and a court's ability to reverse or modify an award is very limited. Discovery is generally more limited than in court. Arbitrators need not explain their awards unless, in an eligible case, all parties jointly request an explained decision at least 20 days before the first scheduled hearing.

Supporting quotations

This Agreement contains a pre-dispute arbitration clause.

(1) All parties to this Agreement are giving up the right to sue each other in court, including the right to a trial by jury, except as provided by the rules of the arbitration forum in which a claim is filed.

(2) Arbitration awards are generally final and binding; a party’s ability to have a court reverse or modify an arbitration award is very limited.

(4) The arbitrators do not have to explain the reason(s) for their award unless, in an eligible case, a joint request for an explained decision has been submitted by all parties to the panel at least 20 days prior to the first scheduled hearing date.

Qualifications & exceptions

• Exception to giving up court: "except as provided by the rules of the arbitration forum in which a claim is filed".
• An explained decision needs a joint request by all parties at least 20 days before the first hearing in an eligible case.

Legal Rights & Agreement Rules · Context

Arbitrators may be industry-affiliated, forum time limits can apply, and forum rules are incorporated

The arbitration panel will typically include a minority of arbitrators who were or are affiliated with the securities industry. The rules of some arbitration forums may impose time limits for bringing a claim, and in some cases a claim ineligible for arbitration may be brought in court. The rules of the arbitration forum where a claim is filed, and amendments to them, are incorporated into the Agreement.

Supporting quotations

(5) The panel of arbitrators will typically include a minority of arbitrators who were or are affiliated with the securities industry.

(6) The rules of some arbitration forums may impose time limits for bringing a claim in arbitration. In some cases, a claim that is ineligible for arbitration may be brought in court.

(7) The rules of the arbitration forum in which the claim is filed, and any amendments thereto, shall be incorporated into this Agreement.

Qualifications & exceptions

• Court is available only "in some cases" for a claim that is ineligible for arbitration.

Legal Rights & Agreement Rules · Restriction or exception

Any controversy about the Agreement, your Accounts or transactions is settled by FINRA Dispute Resolution arbitration

Any controversy or claim arising out of or relating to the Agreement, any other agreement between you and Robinhood, any Account established under it, or any transaction in an Account is settled by arbitration before FINRA Dispute Resolution, Inc. ("FINRA DR") under FINRA DR rules.

Supporting quotations

Any controversy or claim arising out of or relating to this Agreement, any other agreement between you and Robinhood, any Account established hereunder, any transaction therein, shall be settled by arbitration before FINRA Dispute Resolution, Inc. (“FINRA DR”) in accordance with the rules of FINRA DR.

Qualifications & exceptions

• Covers claims relating to any other agreement between you and Robinhood as well as the Agreement.

Legal Rights & Agreement Rules · Restriction or exception

Foreign nationals and non-U.S. residents waive the right to sue Robinhood in any foreign venue

If you are a foreign national, non-resident alien or do not live in the United States, you agree to waive your right to file an action against Robinhood in any foreign venue.

Supporting quotations

If you are a foreign national, non-resident alien, or if you do not reside in the United States, you agree to waive your right to file an action against Robinhood in any foreign venue.

Qualifications & exceptions

• Applies to foreign nationals, non-resident aliens and persons not residing in the United States.

Legal Rights & Agreement Rules · Restriction or exception

Class actions stay out of arbitration, and arbitration is not enforced on putative class members meanwhile

No person may bring a putative or certified class action to arbitration, or seek to enforce a pre-dispute arbitration agreement against someone who has started a putative class action in court or is a member of a putative class who has not opted out for claims in that action, until the class certification is denied, the class is decertified, or the customer is excluded from the class by the court. Holding off on enforcing arbitration this way is not a waiver of rights under the Agreement, except as stated.

Supporting quotations

No person shall bring a putative or certified class action to arbitration, nor seek to enforce any pre-dispute arbitration agreement against any person who has initiated in court a putative class action; or who is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative class action until: (1) the class certification is denied; or

(2) the class is decertified; or (3) the customer is excluded from the class by the court.

Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this Agreement except to the extent stated herein.

Qualifications & exceptions

• Enforcement of arbitration resumes after certification is denied, the class is decertified, or the customer is excluded from the class.

Legal Rights & Agreement Rules · Restriction or exception

Accepting acknowledges the arbitration clause, margin securities lending, receipt and listed disclosures

By accepting, you acknowledge you have read and understand the terms and manifest assent to them. You also acknowledge the Agreement contains a pre-dispute arbitration clause in Section 39 and agree that any of your margin account securities may be borrowed by Robinhood or loaned to others, that you have received a copy of the Agreement, that you have reviewed the Margin Disclosure Statement, and that you have been provided with and agree to the Form CRS, Terms and Conditions and the other listed disclosures, which are incorporated by reference.

Supporting quotations

ACCEPTED AND AGREED: You acknowledge that you have read the preceding terms and conditions of this Agreement, that you understand them and that you hereby manifest your assent to, and your agreement to comply with, those terms and conditions by accepting this agreement.

YOU ALSO UNDERSTAND THAT BY ACCEPTING THIS AGREEMENT YOU HAVE ACKNOWLEDGED THAT THIS AGREEMENT CONTAINS A PREDISPUTE ARBITRATION CLAUSE IN SECTION 39 HEREIN.

(1) ANY OF YOUR MARGIN ACCOUNT SECURITIES MAY BE BORROWED BY ROBINHOOD OR LOANED TO OTHERS

WHICH ARE INCORPORATED BY REFERENCE INTO THIS AGREEMENT

Qualifications & exceptions

• Listed disclosures include the Use and Risk Disclosures, Product Features, Extended Hours and ETF disclosures, Funds Availability, Business Continuity Plan Summary and FINRA Public Disclosure Program.

Legal Rights & Agreement Rules · Context

The attached Market Data Addendum carries its own printed revision date, April 10, 2026

Directly before the heading "Robinhood Market Data Addendum" the saved text prints "Revised April 10, 2026". That line appears to date the Market Data Addendum, a different date from the October 1, 2026 line that opens the Customer Agreement.

Supporting quotations

Revised April 10, 2026

Qualifications & exceptions

• The date line sits before the Addendum heading and is read here as the Addendum's revision date.

Not stated here

• The saved text does not say whether the date applies to the Addendum or to the preceding appendix, or when it takes effect.

Legal Rights & Agreement Rules · Restriction or exception

Robinhood Parties and Third Party Providers are not liable for Market Data errors, delays or losses from using it

Neither the Robinhood Parties nor any Third Party Provider is liable for inaccuracy, error, delay, interruption or omission in Market Data, information or messages or their transmission, or for Losses or damage from Market Data or those problems, whether caused by an act or omission of Robinhood or a Third Party Provider or otherwise. Robinhood and the providers are not responsible for, and you agree not to hold them liable for, Losses, lost profits, trading losses or other damages from your use of Market Data or from inaccurate, defective or unavailable Market Data. These limits are in addition to, and without prejudice to, other limitations of liability in the Customer Agreement or in other agreements you have with any other Robinhood entity or any Third Party Provider.

Supporting quotations

NEITHER THE ROBINHOOD PARTIES NOR ANY THIRD PARTY PROVIDER SHALL BE LIABLE IN ANY WAY FOR (A) ANY INACCURACY, ERROR OR DELAY IN, INTERRUPTION OR OMISSION OF, ANY MARKET DATA, INFORMATION OR MESSAGE, OR THE TRANSMISSION OR DELIVERY THEREOF

WHETHER DUE TO ANY ACT OR OMISSION BY ROBINHOOD OR A THIRD PARTY PROVIDER, OR OTHERWISE

YOU AGREE NOT TO HOLD ANY OF THEM LIABLE FOR, ANY LOSSES, LOST PROFITS, TRADING LOSSES OR OTHER DAMAGES RESULTING FROM OR IN CONNECTION WITH YOUR USE OF ANY MARKET DATA

CUSTOMER AGREEMENT OR OTHER AGREEMENTS YOU MAY HAVE FROM TIME TO TIME WITH ANY OTHER ROBINHOOD ENTITY OR WITH ANY THIRD PARTY PROVIDER.

Qualifications & exceptions

• The limit applies whether the cause is an act or omission by Robinhood, a provider or otherwise.
• Cumulative with other limitations of liability in the Customer Agreement and other agreements.

Legal Rights & Agreement Rules · Restriction or exception

You must keep assessing your status, tell Robinhood of changes, and indemnify it if your representation was wrong

You undertake to continually assess whether you are a Non-Professional or a Securities Professional and to promptly notify Robinhood if your classification changes while you have an Account. You acknowledge Robinhood provided the Account and Market Data in reliance on your representations and warranties about your status. You indemnify Robinhood for fees, costs, losses, liabilities or expenses it incurs or suffers, directly or indirectly, in connection with any such representation or warranty being incorrect or inaccurate in any respect when given or repeated.

Supporting quotations

You undertake to continually assess your status as to whether you are a Non-Professional or whether you are a Securities Professional, and undertake to promptly notify us if your classification as a “Non-professional” or a “Securities Professional” changes at any time whilst you have an Account.

You acknowledge that we have provided you with an Account and with Market Data in reliance on your representations and warranties to us as to your status.

You indemnify Robinhood for any fees, costs, losses, liabilities or expenses that Robinhood may incur or suffer, directly or indirectly, in connection with any such representation or warranty being incorrect or inaccurate in any respect when given or repeated.

Qualifications & exceptions

• The indemnity applies to any inaccuracy "in any respect" when the representation was given or repeated.

Legal Rights & Agreement Rules · Restriction or exception

NASDAQ does not endorse Robinhood, and its liability for indirect loss or Information problems is limited

NASDAQ does not endorse or approve any equipment, Robinhood or Robinhood's service, and Robinhood makes no representations or warranties about NASDAQ or the Information. Except as otherwise stated, NASDAQ is not liable to you or anyone for indirect, special, punitive, consequential or incidental loss or damage of any nature, including trading losses and lost profits, from any cause, even if advised of the possibility. NASDAQ is not liable for any unavailability, interruption, delay, incompleteness or inaccuracy of the Information. This does not relieve NASDAQ, you or any other Person from liability for their own gross negligence or willful tortious misconduct or from personal injury or wrongful death claims, and you agree these terms reasonably allocate risk.

Supporting quotations

NASDAQ does not endorse or approve any equipment, Robinhood, or Robinhood’s service. Robinhood makes no representations or warranties in connection with NASDAQ or Information.

Limitations of Liability.

Except as may otherwise be set forth herein, NASDAQ shall not be liable to you or any other Person for indirect, special, punitive, consequential or incidental loss or damage

NASDAQ shall not be liable to you or any other Person for any unavailability, interruption, delay, incompleteness or inaccuracy of the Information.

This section shall not relieve NASDAQ, you, or any other Person from liability for damages that result from their own gross negligence or willful tortious misconduct or from personal injury or wrongful death claims.

Qualifications & exceptions

• Gross negligence, willful tortious misconduct, personal injury and wrongful death claims are carved out.
• The first limit applies "except as may otherwise be set forth herein".

Legal Rights & Agreement Rules · Restriction or exception

NASDAQ's third-party information providers are not liable for Information errors; liability capped at the fee paid

NASDAQ's third-party information providers have no liability for damages relating to the accuracy of, or delays or omissions in, the Information they provide, whether direct or indirect, lost profits, or special or consequential damages, even if advised of the possibility, whether to you or anyone seeking relief through you. In no event does the liability of those providers or their affiliates to you or anyone seeking relief through you, under any cause of action in contract, tort or otherwise, exceed the fee you or that other person paid.

Supporting quotations

NASDAQ’s third-party information providers shall have no liability for any damages for the accuracy of or for delays or omissions in any of the Information provided by them

In no event will the liability of the third-party information providers or their affiliates to you or any other Person seeking relief through you pursuant to any cause of action, whether in contract, tort or otherwise, exceed the fee paid by you or any other Person seeking relief through you, as applicable.

Qualifications & exceptions

• The cap is the fee paid by you or the person seeking relief through you, as applicable.

Legal Rights & Agreement Rules · Restriction or exception

You indemnify NASDAQ and its people for claims from your noncompliance, third-party actions and IP violations

You will indemnify and hold harmless NASDAQ and its employees, officers, directors and other agents from all Claims or Losses imposed on, incurred by or asserted as a result of or relating to: your noncompliance with these terms; any third-party actions related to your receipt and use of the Information, whether authorized or unauthorized; and a claim of infringement or other violation of an intellectual property right by you or your actions or omissions, equipment or other property.

Supporting quotations

You will indemnify NASDAQ and hold NASDAQ and its employees, officers, directors and other agents harmless from any and all Claims or Losses imposed on, incurred by or asserted as a result of or relating to

(b) any third-party actions related to your receipt and use of the Information, whether authorized or unauthorized

Qualifications & exceptions

• Third-party actions are covered whether your use was authorized or unauthorized.

Legal Rights & Agreement Rules · Permission or license

The Nasdaq Market Data Agreement may be amended as set out in section 4 of the Market Data Addendum

The Nasdaq Market Data Agreement may be amended or modified as set out in section 4 of the Market Data Addendum, which allows Robinhood to supplement or amend the Addendum and any agreements it constitutes by notice that posting the revised Addendum on the Website can satisfy, with continued account or Platform access or Market Data use deemed acceptance.

Supporting quotations

This Nasdaq Market Data Agreement may be amended or modified as set out in section 4 of this Market Data Addendum.

BY CONTINUING TO MAINTAIN ANY ACCOUNT OR ACCESS THE PLATFORM OR ANY MARKET DATA, YOU ARE DEEMED TO ACCEPT THE TERMS OF THE REVISED MARKET DATA ADDENDUM AND WILL BE LEGALLY BOUND BY ITS TERMS.

Qualifications & exceptions

• Amendment follows Addendum section 4; continued use is deemed acceptance.

Legal Rights & Agreement Rules · Permission or license

Robinhood can amend the Market Data Addendum by posting it, and continued account or data use is acceptance

Robinhood may supplement or amend the Market Data Addendum, its terms and any agreements it constitutes from time to time by notice, which posting the revised Addendum on the Website can satisfy. By continuing to maintain any Account or access the Platform or any Market Data, you are deemed to accept the revised Addendum and are legally bound.

Supporting quotations

THIS MARKET DATA ADDENDUM AND ITS TERMS AND ANY AND ALL AGREEMENTS CONSTITUTED BY IT MAY BE SUPPLEMENTED OR AMENDED FROM TIME TO TIME BY ROBINHOOD BY NOTICE TO YOU, AND SUCH NOTICE REQUIREMENT MAY BE SATISFIED BY THE REVISED MARKET DATA ADDENDUM BEING POSTED ON THE ROBINHOOD WEBSITE.

BY CONTINUING TO MAINTAIN ANY ACCOUNT OR ACCESS THE PLATFORM OR ANY MARKET DATA, YOU ARE DEEMED TO ACCEPT THE TERMS OF THE REVISED MARKET DATA ADDENDUM AND WILL BE LEGALLY BOUND BY ITS TERMS.

Qualifications & exceptions

• Notice may be satisfied by Website posting alone.

Legal Rights & Agreement Rules · Restriction or exception

California governing law and FINRA arbitration from the Customer Agreement apply to the Market Data Addendum

Section 38 (Governing Law) and Section 39 (Arbitration) of the Customer Agreement apply to and are incorporated into the Addendum as if set out in full. Section 38 applies California law, except where federal securities laws, FINRA Rules and exchange or market regulations govern, and Section 39 requires arbitration before FINRA Dispute Resolution of controversies about the Agreement, other Robinhood agreements, Accounts and transactions.

Supporting quotations

Section 38 (Governing Law) and Section 39 (Arbitration) of the Customer Agreement apply to and are incorporated into this Addendum as if set out in full.

This Agreement and all transactions made in your Account shall be governed by the laws of the State of California (regardless of the choice of law rules thereof)

shall be settled by arbitration before FINRA Dispute Resolution, Inc. (“FINRA DR”) in accordance with the rules of FINRA DR

Qualifications & exceptions

• Incorporated "as if set out in full".

Legal Rights & Agreement Rules · Restriction or exception

Authorizing SROs are third-party beneficiaries who can enforce the NYSE agreement, and you pay their attorney's fees

The Authorizing SROs are third-party beneficiaries of the NYSE Market Data Agreement, and they or their authorized representatives may enforce it, through legal proceedings or otherwise, against you or anyone who obtains Market Data made available under it other than as the agreement contemplates. You, as Subscriber, must pay the reasonable attorney's fees an Authorizing SRO incurs enforcing the agreement against you.

Supporting quotations

(a) the Authorizing SROs are third-party beneficiaries under this Agreement and (b) the Authorizing SROs or their authorized representative(s) may enforce this Agreement, by legal proceedings or otherwise, against Subscriber or any person that obtains Market Data that is made available pursuant to this Agreement other than as this Agreement contemplates

Subscriber shall pay the reasonable attorney's fees that any Authorizing SRO incurs in enforcing this Agreement against Subscriber.

Qualifications & exceptions

• Fee-shifting covers reasonable attorney's fees incurred enforcing the agreement against the Subscriber.

Legal Rights & Agreement Rules · Restriction or exception

Disseminating Parties do not guarantee NYSE data, and you may not hold them liable even for negligence or force majeure

No Authorizing SRO, Other Data Disseminator or information processor assisting them (the "Disseminating Parties") guarantees the timeliness, sequence, accuracy or completeness of Market Data or other market information or messages. Neither you nor anyone else may hold a Disseminating Party liable for any inaccuracy, error, delay or omission in the data or its transmission or delivery, or for any loss or damage from inaccuracy, error, delay, omission, non-performance or interruption, whether due to a Disseminating Party's negligent act or omission, to force majeure (examples include flood, extraordinary weather, earthquake, fire, war, labor dispute, government action, communications or power failure, equipment or software malfunction), or to any other cause beyond its reasonable control.

Supporting quotations

no Authorizing SRO, no other entity whose information is made available over the Authorizing SROs' facilities (an "Other Data Disseminator") and no information processor that assists any Authorizing SRO or Other Data Disseminator in making Market Data available (collectively, the "Disseminating Parties") guarantees the timeliness, sequence, accuracy or completeness of Market Data

Neither Subscriber nor any other person shall hold any Disseminating Party liable in any way for (a) any inaccuracy, error or delay in, or omission of,

due either to any negligent act or omission by any Disseminating Party, to any "force majeure"

Qualifications & exceptions

• The no-liability covers negligent acts or omissions by a Disseminating Party as well as force majeure and other causes beyond reasonable control.

Legal Rights & Agreement Rules · Restriction or exception

The NYSE agreement is governed by New York law, is not assignable, and is accepted by agreeing

The NYSE Market Data Agreement is governed by New York law, is subject to the Securities Exchange Act of 1934, its rules and the joint-industry plans, and contains the entire agreement of the parties on its subject. You may not assign it. The person executing it warrants legal capacity to contract and, if signing for a business or organization, actual authority to bind it. By agreeing, you acknowledge you read and understand the terms and manifest assent by agreeing.

Supporting quotations

The laws of the State of New York shall govern this Agreement and it shall be interpreted in accordance with those laws.

This Agreement is subject to the Securities Exchange Act of 1934, the rules promulgated under that act, and the joint-industry plans entered into pursuant to that act.

Subscriber may not assign all or any part of this Agreement to any other person.

By agreeing to this agreement, you acknowledge that you have read the preceding terms and conditions of this agreement, that you understand them and that you manifest your assent to, and your agreement to comply with, those terms and conditions by agreeing to this agreement.

Qualifications & exceptions

• New York law governs the NYSE Market Data Agreement, which differs from the California law in Section 38 of the Customer Agreement.

Legal Rights & Agreement Rules · Restriction or exception

You indemnify ICE Data Services, its affiliates and suppliers against third-party claims over the Services

You must indemnify and hold harmless ICE Data Services, its affiliates and their third-party suppliers (the "ICE Indemnitees") against all losses, damages, liability and costs, including attorney's fees, resulting directly or indirectly from any third-party claim or demand against them arising out of or related to any Services you receive or any data, information, service, report, analysis or publication derived from them. The ICE Indemnitees are not liable for any third-party claim or demand against you.

Supporting quotations

You shall indemnify ICE Data Services, its affiliates, and their third-party suppliers (collectively, the “ICE Indemnitees”) against and hold the ICE Indemnitees harmless from any and all losses, damages, liability, costs, including attorney's fees, resulting directly or indirectly from any claim or demand against the ICE Indemnitees by a third party arising out of or related to any Services received by you

The ICE Indemnitees shall not be liable for any claim or demand against you by a third party.

Qualifications & exceptions

• Covers derived data, information, reports, analyses and publications as well as the Services themselves.