Primary Agreement

These Terms and Conditions ("Terms") govern the use of the SAVA Spend Management account and linked cards ("Account") provided to you by Access Bank South Africa Limited.

Parties and Roles

By accepting and using the Account and Card, you acknowledge and agree that you are a client of SAVA Technologies (Pty) Ltd (SAVA), which is the provider of the Spend Management product. The Cards are issued by Access Bank, the licensed financial institution responsible for the issuance (FSP No. 5865). SAVA Technologies (Pty) Ltd (FSP No. 53169) serves as the banking technology partner and distribution channel of Access Bank, providing the technology and infrastructure that enable the Card and related services.

Service Administration

SAVA provides a platform that enables businesses in South Africa to open a business account, issue unlimited corporate cards, upload receipts instantly, automate accounting reconciliations, and send invoices, all from one platform.

Purpose and Acceptance

By applying for, accepting, or using the Account and Card, you acknowledge that you have read, understood, and agree to be bound by these Terms.

Priority of Terms

These Terms must be read together with Access Bank's terms and conditions for products of this nature that can be accessed at https://southafrica.accessbankplc.com/terms-and-conditions/. In the event of any inconsistency, Access Bank's terms and conditions will prevail, save that the specific provisions contained in these Terms prevail over any conflicting provisions in Access Bank's general terms and conditions.

Definitions

In these Terms, unless the context indicates otherwise:

• "Account" means the Spend Management Account opened in your name.
• "Access Bank" means Access Bank South Africa Limited (Registration Number 1947/025414/06)
• "Card" means the Mastercard-branded transaction card issued to you or your employees and linked to your Account
• "KYC" means Know Your Customer verification procedures and customer due diligence processes required under South African legislation and regulations
• "PIN" means the personal identification number associated with your Card
• "Sava" means Sava Technologies Proprietary Limited (Registration Number 2022/301994/07)
• "You" or "Your" means the account holder and/or any authorised Card user

Eligibility and application

Eligibility Requirements

To qualify for an Account and Card, you must satisfy all of the following criteria:

• Submission of all relevant and required KYB documents
• Submission of all relevant and required KYC documents of purported card holders
• Card holders must be 18 years of age or older
• Card holders must be South African citizens or possess the valid documents indicating the right to live in South Africa

Account Opening Conditions

Account opening is conditional upon successful completion of KYC verification procedures to our satisfaction, and compliance with all applicable South African banking and financial services legislation. We reserve the right to refuse any Account opening application without providing reasons for such refusal.

Use Requirements

This product is intended for transactions attributed to business purposes only or in any such way permitted by the entity.

Account purpose and operational framework

Product Scope and Purpose

This product is designed for business use to assist in managing spend.

Funding Sources

The Card may receive funds from the following sources:

Bank transfers from verified South African bank accounts. All funds into the account must be denominated in South African Rand (ZAR).

Operational Features

Electronic Funds Transfer (EFT) facilities are available. Debit order facilities are available for recurring payments which must be approved by the main account holder/entity on record.

Fund Management

We reserve the right to place a hold on your funds if you do not comply with these Terms or any legal requirements. During such hold periods, you will not be able to withdraw or transfer funds from your Account.

Card functionality and transactions

Card Issuance

You will be issued with either a physical or virtual Mastercard (debit or credit as applicable), at our discretion based on your application and location.

Permitted Transactions

The Card may be used for point-of-sale (POS) purchases at participating merchant establishments within the borders of South Africa, cash withdrawals at automated teller machines (ATMs) displaying the Mastercard acceptance mark within the border of

South Africa, online purchases and e-commerce transactions, Electronic Funds Transfers (EFT) to other bank accounts and recurring debit order payments.

Prohibited Transaction Types

The following transaction types are specifically prohibited and will be declined:

• gambling transactions,
• cryptocurrency purchases,
• adult entertainment, any transactions for unlawful purposes, and any and all transactions initiated outside the borders of South Africa

Transaction Processing Requirements

Card transactions will only be processed within your available account balance or internally determined spend limit.

Transaction Control Rights

We reserve the right, in our sole discretion and without prior notice, to refuse to authorise, process or complete any transaction, or to reverse or recall any transaction previously authorised, where we reasonably suspect fraud, money laundering, terrorist financing, sanctions breaches, operational error, or any other unlawful or irregular activity. We may also exercise these rights if required by law, regulation, court order, or any competent authority. We shall not be liable to you or any third party for any loss arising from such refusal or reversal, provided we have acted in good faith and in accordance with applicable law.

Security and authentication

Your Security Obligations

You agree to take all reasonable steps to safeguard your Card and PIN, including immediately changing any PIN we issue upon receiving your Card, keeping your PIN secret and separate from the Card, ensuring only the named cardholder uses the Card, destroying expired Cards by cutting through the magnetic strip and chip, immediately notifying us of loss, theft, PIN compromise, or unauthorised transactions, and accepting liability for all transactions processed until we acknowledge receipt of your loss or theft report.

Strong Customer Authentication

We may require strong customer authentication for certain transactions, including one-time passwords (OTPs), biometrics, or device binding for virtual cards. You are responsible for securing any devices used for authentication.

Spend management online platform

Purpose and Features

The Spend Management online platform enables you to view balances and transaction history, download statements, manage Card settings, set or amend spend limits, and receipt uploads.

Security Requirements

You are responsible for securing devices used to access the online platform including any and all virtual cards issued to you, keeping credentials confidential, and promptly installing updates we make available.

Availability and Changes

The online platform may be unavailable from time to time due to maintenance or upgrades. We may update features or functionality at any time, however written notice shall be communicated ahead of time informing you of any placed maintenance that could impacts you.

Compliance and verification

Legal Framework

We are legally obligated under South African anti-money laundering and counter-terrorism financing legislation to verify your identity and and that of all cardholders under your profile.

Your Compliance Obligations

You acknowledge and agree that we may collect, verify, and process your personal information, KYC screening, and ongoing monitoring remains mandatory throughout the relationship, and failure to provide required documentation may result in Account suspension.

FICA Compliance

Under the Financial Intelligence Centre Act (FICA), we may not establish a banking relationship unless you provide acceptable identity and residential address information.

Ongoing Verification and Information Updates

You agree that we may request information regarding you or your account activity as we may require from time to time or third party verification systems as part of our verification processes. You must provide correct and up-to-date information and notify us immediately of any changes to your contact details, identification, or other relevant information.

Data protection and privacy

POPIA Consent

In terms of the Protection of Personal Information Act 4 of 2013 ("POPIA"), you consent to us collecting, processing, and sharing your personal information as necessary for banking services provision and legal compliance.

Third Party Data Sharing

You acknowledge and consent that your personal information may be shared with SAVA for service provision and customer support, Access Bank and Mastercard for account and card services provision, third party service providers for verification purposes, regulatory authorities and law enforcement as required by law, service providers assisting in banking service delivery, and international payment networks (such as Mastercard) for card processing services.

Purpose of Data Sharing

Such sharing is necessary for proper Account and Card administration, legal and regulatory compliance, fraud prevention, and effective financial service delivery.

Permitted and prohibited conduct

Intended Purpose and Warranties

You acknowledge that the Account and Card are provided solely for Spend Management approved usage and agree to use these facilities accordingly. You warrant that you are the beneficial owner of any funds, you are not acting on behalf of another person, and you will comply with all applicable laws and regulations.

Prohibited Uses

You must not use the Account or Card for any unlawful purpose, including money laundering, terrorist financing, or fraud, circumventing transaction limits, usage restrictions, or security measures or permitting unauthorised third parties to use your Card or Account.

Monitoring, Investigation and Enforcement

We reserve the right to monitor and investigate transactions to ensure compliance with applicable laws and these Terms. Breach of this policy may result in immediate suspension or closure of your Account and reporting to relevant authorities. Where we reasonably suspect misuse, abuse, or breach of these Terms, we reserve the right to immediately suspend or terminate the Account and Card without prior notice.

Sanctions and Scheme Rules

Use of the Account and Card is also restricted where prohibited by applicable sanctions laws and card scheme rules.

Fees, charges and interest

Fees and Charges

All applicable fees and charges will be automatically debited from your Account balance. The current fee schedule is available at https://sava.africa/pricing and may be updated periodically.

Statements and disputes

Transaction Statements and Dispute Timeframes

Transactions and fees are reflected on your Account statement. You have 30 days from the statement date (or transaction date, whichever occurs first) to dispute any transaction or fee. Failure to dispute within this period renders the transaction

deemed correct and accepted.

Evidence and Legal Proceedings

ATM and point-of-sale records constitute prima facie evidence of transactions unless you prove otherwise. For legal proceedings, a certificate from one of our managers recording amounts owed will be admissible evidence.

Service Queries

Any questions, complaints or disputes regarding SAVA's services must be directed to https://sava.africa/complaints or support@sava.africa

Account termination

Termination by Us

As earlier mentioned, we may immediately close your Account where you materially breach these Terms, law or regulation requires closure, we detect suspicious or unauthorised activity or you fail to maintain KYC compliance=

Post-Termination Effects

Upon termination, your Cards will be automatically cancelled, and remaining funds returned in accordance with South African law and regulation. Terms relating to liability, dispute resolution, governing law, jurisdiction, and provisions that by their nature should survive termination shall continue to apply after Account closure or Card cancellation.

Dormant and Inactive Accounts

If no transactions occur for a period we determine and notify you, the Account may be classified as inactive or dormant. We will notify you before an account is classified as dormant. If you do not respond to such notice within a specified period, we reserve the right to close the dormant account. You may claim any funds in that account within sixty years from the date of the last transaction on the account.

Liability and limitations

Limitation of Liability

We shall not be liable for losses arising from merchant refusal to accept the Card, your failure to safeguard Card or security credentials, system failures, power outages, or network interruptions, events beyond our reasonable control (force majeure).

Limitation of Damages

Our liability for any claim is limited to direct damages only. We specifically exclude liability for special, indirect, consequential, or punitive damages.

Disclaimer

Nothing in these Terms constitutes financial, tax, or legal advice.

Governing law and jurisdiction

Applicable Law

These Terms are governed by South African law. You irrevocably submit to the non-exclusive jurisdiction of South African courts for dispute resolution.

Magistrate's Court Jurisdiction

We may bring legal action in the Magistrate's Court even if amounts exceed normal jurisdiction. You will be liable for legal costs on the attorney-and-client scale, including collection charges and tracing fees.

Certificate of Indebtedness

If we need to take legal action against you, one of our managers (who need not prove appointment) will produce a certificate to the court recording the amount you owe us. If you disagree with this certificate, you will have to prove that it is incorrect.

Legal Costs and Collection

You will pay all our expenses in recovering any amounts you owe us, including legal costs on the attorney-and-client scale, collection charges, tracing fees, and VAT.

Service providers

Access Bank South Africa Limited

Access Bank South Africa Limited (Registration Number 1947/025414/06) is an authorised Financial Services Provider (FSP 5865) and registered Credit Provider (NCRCP 6) providing the Account and Card services under these Terms.

Sava Technologies Proprietary Limited

Sava Technologies Proprietary Limited (Registration Number 2022/301994/07) provides account creation, management, and technology services for the Account and Card. Sava Technologies Proprietary Limited is an authorised Financial Services Provider (FSP

53169).

Contact information

Primary Contact

Email: support@sava.africa

Website: www.sava.africa

Banking Ombudsman

Ombudsman for Banking Services Telephone: +27 (0)11 712 1800 Email: info@obssa.co.za

Card-specific terms

Card Ownership and Validity

The Card remains our property and is subject to immediate return to us. The Card is valid from the issuing date until the expiry date displayed on the Card. You may only use the Card during the validity period.

Card Safeguarding

You must sign the Card on the reverse side with ink immediately after receiving it. You are the only person who may use the Card. The Card cannot be transferred to any other person for use.

Contactless Functionality

Contactless functionality will only be available at selected merchants. Contactless transaction limits will be set based on your individual profile when issued with the Card. We may change these limits in accordance with industry limits and/or at our discretion. You may opt to switch this functionality off.

ATM and POS Records

ATM and POS records shall be prima facie proof of the amounts withdrawn or paid unless you can prove otherwise. You use ATMs at your own risk and we will not be liable for any loss or theft resulting from ATM use.

General provisions

Legal Notices and Communication

All notices and correspondence may be sent to your last known address by hand delivery (deemed received on delivery date), prepaid registered post (deemed received on delivery date), prepaid registered post (deemed received 7 business days after posting), or email or SMS (deemed received on the day sent, or next business day if sent on weekends/holidays). Fax, email or SMS will be considered to have been received on the day that it was sent, or in the case of a Saturday, Sunday or public holiday, on the next business day. We may also deliver notices and other communications to you via in-app messages or push notifications within the mobile application linked to your Account and Card, which will be deemed received on the day posted in the mobile application, or the next business day if posted on weekends/holidays. You must promptly notify us of any change to your contact or identification details. You consent to the use of electronic communications for notices and statements.

Amendment of Terms

We may amend these Terms on 30 days' written notice. Continued use of the Account or Card after such notice constitutes acceptance of amendments.

Severability

If any provision is found invalid or unenforceable, it shall be severed without affecting the validity of remaining provisions.

Waiver and Assignment

No relaxation or indulgence by us constitutes a waiver of our rights. No indulgence or relaxation by us to you or any party will be deemed to be a waiver of our rights, nor a replacement or waiver of our rights under our agreement with you. We may terminate this agreement anytime by giving reasonable notice. We may cede, assign or delegate any of our rights or obligations under these Terms to a third party, and may appoint subcontractors and agents, provided this does not reduce your rights under law.

Tacit Agreements and Banking Customs

In addition to these Terms, you will continue to be bound by any tacit agreement between you and us relating to any account, the common law and by the present-day customs, procedures, practices and usage existing among bankers.

Sava Technologies Pty Ltd (2022/301994/07), is an authorised Financial Services Provider (FSP 53169) and a distribution partner of Access Bank South Africa Limited (Reg. No:1947/025414/06),an authorised Financial Services Provider (FSP 5865). Sava is not a bank.