NEXT CHALLENGE RULES

Individual investors and clubs are evaluated throughout the Next Challenge period: from October 9, 2023 to April 12, 2024.

Valuation of individual investors and clubs is done by based on quantitative criteria AND qualitative criteria.

Periodically, different prize lists enable participants to see where they stand in the competition.

Performance is evaluated on the basis of the following criteria:

- Gross performance

- Risk-adjusted performance = Sharpe ratio

- HHI

- Diversification of the PFV - lines

- Diversification of the PFV- sector

- Diversification ratio

- Quiz

- Using information sources: consult, share, post, comment...

- Dashboard use: pin, share, download...

- Teamwork within a club: equitable sharing of tasks between club members in club projects.

- Marketing and communications: video production, presentations, logos, pitches, etc.

- Consistency of investment strategy and policy: individual virtual portfolio, club virtual portfolio, sales pitch, video pitch, pitch battle...

The Next Challenge is an educational game designed to promote a reasoned and sensible approach to investment and portfolio management. It is in no way an invitation to speculate, even if leveraged ETFs are available as part of the game, nor a recommendation to invest in any company or product whatsoever.

When building their portfolios, participants should keep in mind a few simple ground rules:

Do not place too much emphasis on past performance because past performance is not indicative of future performance.

There is no high performance without high risk. Diversification is essential to spread risk and build sustainable performance.

Give preference to information at the source, on the website of the companies or product promoters.
Beware of information from internet forums and social networks.

Do not hesitate to consult the AMF's sections on investment and portfolio management.

You can also refer to the Universal Registration Document (URD) of the companies to learn about the risk factors associated with each of them. These UDRs can be consulted on the companies' websites.

The individual investor must compose his portfolio in the following way:

- Have at least 10 stocks

- Split over at least four different sectors of activity

No single stock may exceed 15% of the portfolio

The club is based on the prudential rule of 5/10/40 that applies to management companies:

"No more than 10% in any one security,and the sum of securities at more than 5% must not exceed 40%"This rule results in a minimum number of 16 securities in the portfolio.

Clubs can add a presentation video of up to 3 minutes' duration to their profile page.

NextWise posts club presentation videos on the NextWise platform to be voted on by the platform's active community as part of the " Best Video Club Prize"

The Active NextWise Community can "Recommend" the club's presentation video using the "Recommend" feature of this post.

The club with the most "Recommendations" will be awarded the " "Best Video Club Prize".

CLUB ELIGIBILITY :

The participating club is considered only eligible to vote under the following conditions:

- The club has conducted buying/selling from the club's virtual portfolio for 4 consecutive months.

- All club members interacted on the NextWise platform:

- Consulting information sources

- AND post on the club's private chat

- AND post on the club's public chat

- AND submit and/or vote on an order

VOTER ELIGIBILITY :

Only recommendations from the "NextWise active community" will be accepted.

The individual profile has conducted buying/selling from his/her virtual portfolio for 4 consecutive months.

Individual profiles are considered active only under the following conditions:

- Consulting information sources

- AND post on club's public chat

- AND follow-up at least 3 Clubs

- Only one recommendation is possible per individual profile.

- The club members who made the video cannot recommend their own club presentation video.

The Next Challenge jury is composed of investment professionals, key players in the French stock market environment and benchmark issuers.

It is represented by a President.

The President and members of the jury are the natural contacts for participants during the challenge. In this way, they raise the interest of the younger generation in corporate financing and the key role of equities.

The composition of the jury is available on the NextWise website: The Jury

Next Challenge Edition #3 comes to an end Friday, April 12, 2024 at the close of trading on the Paris Stock Exchange: on this date, all rankings are stopped.

After checking the information on individual profiles and club profile members, as well as the results of the prize lists : individual investor and club category winners will be invited to attend.

Winners will be informed of the ranking by email no later than April 13, 2024.

no reply within 3 days - i.e. April 16 at 6:00 p.m. - from the date of this notification, - from the date of this notification, NextWise reserves the right to award the lot to the next person on the list..

7 WINNERS i.e the Top 7 individual profiles of the GENERAL FINAL INDIVIDUAL RANKING on Friday, April 12, 2024.

7 WINNERS : i.e. all members of the Top 7 club profiles of the CLUB FINAL RANKING by Friday April 12, 2024.

To be eligible, at least 3 members per club must be physically present at the closing ceremony.

1 WINNERS : i.e. all members of the club with the highest number of recommendations from the active NextWise community until Friday, April 12, 2024.

To be eligible, at least 3 members per club must be physically present at the closing ceremony.

NextWise declines all responsibility for any incidents or damages of any nature that may arise from the enjoyment of the prize awarded and/or its use, which the winner expressly acknowledges.

The first individual investor will receive a prize of €800.00.

The second individual investor will receive a prize of €700.00.

The third individual investor will receive €500.00.

The next four individual investors will each receive an amount of €400.00.

The prize will be paid by bank transfer on receipt of the winner's bank details.

The first club will receive an amount of € 5,000.00 divided between each of its members.

The second-placed club will receive €4,000.00, divided between each of its members.

The third-placed club will receive €3,500.00, divided between each of its members.

The next four clubs will each receive an amount of €3,000, divided between each member.

The prize will be paid by bank transfer on receipt of the winner's bank details.

The club will receive an amount of 700.00 € divided between each of its members.

The prize will be paid by bank transfer on receipt of the winner's bank details.

It is strictly forbidden, by any means whatsoever, to modify or attempt to modify the features of the proposed Challenge, in particular in order to alter the results.

In this respect, NextWise reserves the right to cancel the participation of any person having committed an act of fraudulent intrusion into the Challenge's automated data processing system, punishable by law NextWise reserves the right to terminate the Challenge at any time, without being held liable for any compensation whatsoever, if it appears that obvious fraud has occurred in any form whatsoever during the course of the Challenge. NextWise may not be held liable in any way whatsoever if, in the event of force majeure, events beyond its control or justified necessity, it may shorten, extend, postpone, modify or cancel the Challenge at any time if circumstances so require.

NextWise reserves the right to exclude from the Challenge and to take legal action against any person who has cheated or disrupted the smooth running of the Challenge.

A winner who has cheated will automatically forfeit his or her prize.

NextWise cannot be held responsible for any event for which it is not responsible, in particular in the event of the unavailability of the platform, technical failure making it impossible to continue the Challenge, Internet network malfunctions preventing the Challenge from running smoothly, any technical, hardware or software failures of any kind whatsoever that have prevented or limited the possibility of participating in the Challenge or damaged a participant's system, errors in the routing of documents, their non-receipt or deterioration, or late delivery.

It is the responsibility of each participant to take all appropriate measures to protect his/her own data and/or software stored on his/her computer equipment against any attack. The connection of any person to the platform and participation in the Challenge is made by under the full responsibility of the participants. It is strictly forbidden, by any means whatsoever, to modify or attempt to modify the Challenge devices, in particular in order to modify the results or any element determining the outcome of the Challenge and its winner.

NextWise reserves the right to enforce equal opportunity among all participants, including by legal action or any other means at its discretion.

NextWise attaches the most serious importance to the confidentiality of participants' personal data.
in accordance with the law nº 78-17 of January 6, 1978 as amended (known as the "Loi Informatique et Libertés") and the General Data Protection Regulation 2016/679 of April 27, 2016 (RGPD), NextWise, in its capacity as Data Controller, will automatically process participants' personal data for the purposes of administering the online form, identifying the participant and contacting him/her, subject to your consent on the platform. The data collected via the online form (listed in article 3) will be kept for the period necessary to achieve the aforementioned purposes. The recipients of this data are NextWise's internal departments.

In accordance with the provisions of the aforementioned texts, the participant has a right of access, rectification, deletion, limitation, portability (where applicable) and opposition on legitimate grounds to the processing of data concerning him/her, as well as a right of opposition to prospecting, particularly commercial. These rights may be exercised by sending an e-mail to NextWise : [email protected]

As part of the Next Challenge, the participant authorizes NextWise and its partners to reproduce, publish and display its name and location on all media (including, but not limited to: social networks, sponsor and partner websites, press, mailing, posters, publishing, audiovisual, Internet, etc.) without restriction on use. These mentions will not confer any right to remuneration or other benefit. However, if the winner does not wish his/her data to be used in any way, he/she may request NextWise to prohibit such use.This right may be exercised by sending an e-mail to NextWise : [email protected]

NextWise has put in place the technical means necessary to demonstrate the participation or non-participation of an Internet user in the Next Challenge. It is therefore agreed that, in the absence of manifest error, the data contained in the information systems of NextWise or its service provider have evidential value with regard to connection elements and information resulting from computer processing relating to the Challenge.

It is agreed that, except in the case of manifest error, NextWise may rely, in particular for the purposes of proof of any act, fact or omission, on programs, data, files, records, operations and other elements (such as monitoring reports or other statements) of nature or in computer or electronic formats or media, established, received or stored directly or indirectly by it, in particular in its information systems.

Thus, the elements considered constitute proof and, if they are produced as means of proof by the NextWise company in any litigation or other proceedings, they will be admissible, valid and opposable between the parties in the same way, under the same conditions and with the same probative force as any document that would be established, received or kept in writing.

The Next Challenge is governed exclusively by French law. Participants are subject to French regulations applicable to games. Participation in this challenge implies full and unreserved acceptance of the present rules. Any claims or disputes arising from the interpretation or execution of these rules must be submitted, by registered letter with return receipt at NextWise headquarters.

Any dispute arising from this competition that cannot be settled amicably will be referred to the competent courts.

The present rules and legal notices are available online in their entirety on the NextWise website  www.nextwise.fr and will be sent by e-mail free of charge to anyone who requests it. No information will be given by telephone, and no postal requests will be taken into account.

Participation in the Next Challenge 2023-2024 implies acceptance of the present rules. This acceptance - a mandatory checkbox to be ticked in order to proceed with the account activation request - is required when creating an individual profile on the NextWise platform by ticking the box "I have read and accept the general conditions of the Next challenge 2023-2024 game rules".

Any violation of these rules will result in exclusion from the Next Challenge. In particular, the organizers reserve the right to exclude, without justification, without prior notice and at any time, any participant whose behavior is not in keeping with the spirit of the game.

Any dispute will be dealt with by the organizers at their own discretion. Decisions are final and cannot be appealed.

The organizers reserve the right to shorten, modify or cancel the contest if they deem that circumstances so require. Should such a decision be taken, participants will be informed as soon as possible.

However, such a decision shall not give rise to any claim for liability on the part of SAS NextWise and its partners. The same applies in the event of technical problems before and during the stock market game.

Any changes to these rules will be announced on the competition website. By continuing to take part in the competition, you accept any changes to the rules.