Dear Phemex Users,

Following a platform review, we have identified that World Cup prediction markets operate on a special underlying settlement mechanism. During the settlement and redemption phase after a market closes, the release of certain position funds may be delayed.

Trading is unaffected before a market closes — buying and selling on the relevant prediction markets continue to function normally. For positions held until market close, the associated funds may enter a "Pending Settlement" state during settlement, and redemption may take longer than on standard prediction markets. This does not involve failed trades or loss of funds, and our technical team is actively resolving the issue.

To avoid funds entering a pending settlement state after market close, Phemex advises users to manage or sell their positions before the relevant World Cup prediction market closes.

Key points:

• This notice applies to all World Cup prediction markets on the platform;
• Buying and selling function normally before market close;
• Redemption may take longer once a position enters settlement;
• Other (non-World Cup) prediction markets are unaffected.

Phemex will continue to monitor the progress and will issue an update as soon as the settlement process returns to normal. Thank you for your understanding and continued support.

Phemex Team