warranties - TOPGUN Options

FINANCIAL DISCLAIMERS & WARRANTIES

Effective Date 19 February 2026, Last Updated 19 February 2026

1. NOT INVESTMENT ADVICE — PUBLISHER’S EXCLUSION

TOPGUN OPTIONS LLC (‘TGO’) IS NOT A REGISTERED INVESTMENT ADVISER, BROKER-DEALER, COMMODITY TRADING ADVISER, OR FINANCIAL PLANNER. ALL CONTENT IS PROVIDED FOR EDUCATIONAL AND INFORMATIONAL PURPOSES ONLY. NOTHING ON THIS PLATFORM CONSTITUTES PERSONALIZED INVESTMENT ADVICE, AN OFFER TO BUY OR SELL SECURITIES, OR A SOLICITATION OF ANY ORDER.

TGO operates as a publisher under the exclusion from the definition of ‘investment adviser’ provided in Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws. TGO’s educational publications are: (a) bona fide publications of general and regular circulation; (b) impersonal — not tailored to any individual subscriber’s portfolio, financial situation, or investment needs; and (c) distributed identically to all subscribers within a given program simultaneously. TGO does not execute trades on behalf of subscribers, does not manage individual accounts, and does not receive compensation based on trading performance.

2. RISK WARNING

TRADING SECURITIES AND OPTIONS INVOLVES SUBSTANTIAL RISK OF LOSS AND MAY NOT BE SUITABLE FOR ALL INVESTORS. OPTIONS TRADING CARRIES SIGNIFICANT RISK, INCLUDING THE POTENTIAL TO LOSE THE ENTIRE AMOUNT INVESTED. YOU SHOULD ONLY INVEST MONEY YOU CAN AFFORD TO LOSE ENTIRELY.

Before placing any trade with actual capital, you should: (a) consult with a licensed financial adviser, registered investment adviser, or registered broker-dealer to determine whether options trading is appropriate for your financial situation and risk tolerance; and (b) read the OCC’s ‘Characteristics and Risks of Standardized Options,’ available at https://www.theocc.com/Company-Information/Documents-and-Archives/Options-Disclosure-Document.

3. PAST PERFORMANCE DISCLAIMER

Past performance of any TGO strategy, trade idea, instructor, or educational example is not indicative of future results. Results discussed in TGO programs, webinars, social media, or marketing materials are not typical. Individual results will vary based on market conditions, account size, risk tolerance, execution, and individual trading decisions. TGO does not represent that any subscriber will achieve results similar to those shown or discussed.

4. HYPOTHETICAL PERFORMANCE — CFTC RULE 4.41

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS (‘PAPER’ OR ‘VIRTUAL TRADING’) HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT REFLECT THE IMPACT OF BROKERAGE FEES, SLIPPAGE, OR PRICE DISCREPANCIES. SINCE TRADES HAVE NOT BEEN EXECUTED WITH REAL CAPITAL, RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR CERTAIN MARKET FACTORS. SIMULATED ACCOUNTS MAY EXPERIENCE TECHNICAL FAULTS THAT ACTUAL ACCOUNTS DO NOT. SIMULATED PROGRAMS ARE GENERALLY DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE GAINS OR LOSSES SIMILAR TO THOSE SHOWN.

5. PAPER TRADING (AKA VIRTUAL) RECOMMENDATION

TGO STRONGLY RECOMMENDS that all members practice strategies in a paper trading or virtual account before committing actual capital. Paper trading accounts are available through most major brokerage platforms at no cost. You should not place trades with actual capital until you have: (a) consulted with a licensed financial professional; (b) practiced in a paper account successfully over a meaningful period; and (c) developed a personal risk management plan consistent with your financial situation.

6. DISCLOSURE OF POSITIONS

Independent contractors, employees, and affiliates of TGO may hold positions in securities, options, or instruments discussed in TGO’s educational content. The existence of such positions may create potential conflicts of interest. Material position holdings will be disclosed in relevant content to the extent required by applicable law or TGO’s internal policies. You should conduct your own independent due diligence before making any investment decision.

7. MAX Afterburner and HUNTERS SDIS — SELF-DIRECTED INVESTMENT SQUADRON

MAX Afterburner and Hunters SDIS are a voluntary, member-driven investment education and discussion group operated in the tradition of investment clubs recognized throughout the United States – including by the SEC and FINRA – such as university investment clubs, neighborhood investment groups, and similar community-based organizations. Like those groups, MAX Afterburner and Hunters are a forum in which individual investors share independent research, discuss publicly available information, and learn from one another. Every member makes fully independent investment decisions using their own individual brokerage account.

MAX Afterburner and Hunters SDIS is not, and does not operate as, a registered investment adviser, broker-dealer, investment bank, commodity trading adviser, venture fund, pooled investment vehicle, or investment clearinghouse. MAX Afterburner and Hunters is not registered with the Securities and Exchange Commission or any state securities commission, nor is registration required given the nature of the group’s activities.

Specifically, MAX Afterburner and Hunters does not and will not:

Pool or commingle member capital in any shared account or fund
Execute trades on behalf of members or direct individual brokerage accounts
Receive compensation, fees, or profit-sharing based on member investment performance
Provide individualized investment recommendations tailored to any member’s personal financial situation
Solicit outside investors or clients beyond the existing membership

All investment decisions made by Hunters members are made solely by each individual member based on their own independent research, judgment, and risk tolerance. Participation in Hunters does not create an advisory relationship of any kind. Nothing discussed in Hunters constitutes a solicitation, recommendation, or offer to buy or sell any security.

All investments involve risk including the possible loss of principal. Past performance discussed by any member is not indicative of future results and must be independently verified.

Each MAX Afterburner and Hunters member acknowledges that they are a self-directed investor who has chosen to participate in this educational discussion group voluntarily, and that they bear sole responsibility for their own investment decisions and outcomes.

8. SOCIAL MEDIA & MARKETING DISCLAIMER

TGO maintains social media presences on YouTube, Instagram, Facebook/Meta, X (Twitter), and LinkedIn. Content posted on these platforms — including charts, performance screenshots, and trade examples — is for educational illustration only. Performance results shown on social media may be hypothetical, paper-traded, or represent individual instructor results that are not representative of typical member outcomes. TGO complies with FTC Guides Concerning Endorsements and Testimonials (16 CFR Part 255). All paid promotions and sponsored content are clearly identified.

9. AFFILIATE & TESTIMONIAL DISCLOSURE

In accordance with FTC Guides (16 CFR Part 255), TGO discloses that testimonials used in marketing materials may be provided by: (a) compensated affiliates who earn commissions on referral sales; (b) individuals who received complimentary program access in exchange for their review; or (c) current or former TGO employees or contractors. TGO believes all published testimonials reflect the genuine experiences of the individuals providing them. Results depicted are not typical and individual results will vary. To inquire about the affiliate program: support@topgunoptions.com.

10. AI & TECHNOLOGY DISCLAIMER

TGO may use artificial intelligence tools, algorithmic analysis software, and automated systems in content research, production, and delivery. AI-assisted content is subject to the same educational limitations described in this document and does not constitute personalized investment advice.

11. DEPARTMENT OF DEFENSE DISCLAIMER

Neither the Department of the Navy nor any other component of the Department of Defense has approved, endorsed, or authorized TOPGUN Options’ products, services, promotions, or activities.