This is a general announcement from Binance; the products and services mentioned may not be available in your region.

Dear users:

1. To provide more options for Binance contract trading and enhance user trading experience, the following U-based perpetual contracts will be launched on Binance RIE and cleared by the Binance RCH clearing program:

• May 21, 2026 12:45 (UTC+8): SPCXUSDT U-based Pre-IPO perpetual contract, with leverage up to 5x

2. More details about the above perpetual contract are shown in the table below:

3. About the mark price:

3.1 Mark price during Pre-IPO trading period:

Prior to the final IPO price announcement, the formula for the mark price during Pre-IPO perpetual contract trading is as follows:

Mark price = Average price of trades in the last 10 seconds, calculated every second

If there are fewer than 21 trades in the last 10 seconds, the average of the last 100 trades for that Pre-IPO contract will be used.

The mark price will be limited to a ±1% price range, meaning the mark price change per second cannot exceed ±1%. This price limit applies during the Pre-IPO trading period and the transition period to standard contracts.

3.2 Transition period from Pre-IPO perpetual contracts to standard contracts:

When Binance RIE releases an exchange announcement confirming the transition ('Pre-IPO perpetual contract transition announcement'), the Pre-IPO perpetual contracts will transition to standard TradFi perpetual contracts. This transition will occur on the official IPO listing day, at which point Binance will obtain a stable price index from a third-party data provider. The mark price will gradually transition from the Pre-IPO perpetual contract mark price to the standard mark price. After the official listing, prices may experience significant volatility, and the stock price may never reach the IPO price.

3.3 Mark price after the transition ends for Pre-IPO perpetual contracts:

The mark price after the transition ends for Pre-IPO perpetual contracts is as follows:

Mark price = Median (Price 1, Price 2, Contract Price)

Note: Please refer to the liquidation procedures and the U-based contract mark price and price index introduction for the formulas of Price 1 and Price 2.

4. About funding rates:

The funding rate is calculated based on the liquidation procedures. The funding rate consists of two parts: the interest rate and the premium. The base interest rate for Pre-IPO perpetual contract funding rates is fixed at 0.015% per day (please refer to the U-based funding rate table). Since there is no premium index for Pre-IPO perpetual contracts, the funding rate for each settlement cycle will consistently be 0.005% (with a settlement frequency of every 8 hours). Binance reserves the right to adjust the interest rate based on market conditions. The funding fee settlement frequency for Pre-IPO perpetual contracts is every eight hours. If Binance decides to adjust the funding rate settlement frequency or the base interest rate for Pre-IPO perpetual contracts, a separate announcement will be made.

After the transition ends for Pre-IPO perpetual contracts, once the premium index is available, the funding rate will follow the funding rate rules for standard contracts.

5. Leverage and margin tiers:

Binance RCH may adjust the maximum leverage and margin requirements according to the liquidation rules and procedures. The maximum leverage and maintenance margin rates for this contract are as follows or based on the latest updates for U-based leverage and margin.

Please note:

• This exchange announcement is published in accordance with Binance Exchange Rules Article 75 and Article 89, and as an announcement under Liquidation Rule 76.6.

• Please note that during the Pre-IPO perpetual contract trading period and the transition period to standard contracts, Binance will implement stricter maximum prices. API users can use GET/fapi/v1/exchangeInfo, while front-end users can refer to this page for the latest maximum price.

• The aforementioned perpetual contracts will be open for copy trading within 24 hours after going live. For more information on contract copy trading, please refer to this page.

• If the Pre-IPO perpetual contract transitions to a TradFi perpetual contract, Binance will issue a Pre-IPO contract transition notice.

• If the IPO listing fails, the Pre-IPO perpetual contract will be removed, and Binance will issue an IPO failure notice.

• Binance reserves the right to adjust the contract size of the Pre-IPO perpetual contract based on the actual total share capital. If Binance decides to adjust the contract size, a separate announcement will be made.

• Based on market risk conditions, Binance may adjust the above contract parameters, including funding rates, minimum tick size, maximum leverage, initial margin, maintenance margin, and other key parameters. Please check the trading rules for the latest adjustment information.

• There may be discrepancies between the English version of the announcement and the translation. In case of any discrepancies, please refer to the English version for the latest or most accurate information.

Note:

• Traditional asset perpetual contracts

• Trading parameters

• U-based contract leverage and margin

• How to switch contract trading pairs

• Binance contract platform trading fee rate table

• Mark price vs index price

• Funding rate history

• Multi-asset mode

Thank you for your support of Binance!

Binance team

May 21, 2026

Note: This announcement was updated on May 21, 2026, with information about 'Estimated Shares'.

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Binance has always valued compliance and integrity, adhering strictly to the requirements of local regulatory authorities, and asks you to comply with the relevant laws and regulations of your country or region.

Binance reserves the right to modify, change, or cancel this announcement at any time at its sole discretion for any reason without prior notice.

Disclaimer: Digital asset prices carry high market risks and price volatility. Your investment value may fluctuate, and you may lose your investment amount. You are solely responsible for your investment decisions, and Binance is not responsible for any potential losses. Pre-IPO perpetual contracts are subject to high market risks and price volatility. After the official listing, stock prices may fluctuate significantly and may be lower than the final IPO issuance price. Furthermore, there is no guarantee that any stock's IPO will successfully list. If adverse price fluctuations occur, all your margin balances may be liquidated. Past performance does not guarantee future performance. Stocks held in Pre-IPO do not represent ownership of the underlying stocks. Stocks held in Pre-IPO are not affiliated with, nor endorsed or recognized by, the issuers of the underlying stocks. Before trading, you should assess whether it is suitable for you based on your goals and circumstances, including risks and potential benefits, and consult an independent financial advisor. This document should not be considered financial or investment advice. For responsible trading, please refer to Binance's responsible trading information page. For more details, please refer to Binance's terms of use and risk warning.