McColl Racing Enterprises

STANDARD TERMS AND CONDITIONS OF SALE AND SERVICE, WAIVER AND RELEASE, AND EXPRESS ASSUMPTION OF RISK AGREEMENT

Effective Date: October 2026

1. SCOPE AND APPLICATION

McColl Racing Enterprises (“McColl Racing”) builds and sells racing chassis, vehicles, parts, components and related products, and provides racing-related services. These terms apply to products purchased from or services authorized by McColl Racing, including custom-built or modified racing assets. These terms apply to the transaction for which they are provided and accepted, subject always to applicable law and any separate written agreement signed by the parties.

Products and services may be intended solely for motorsports, competition, testing or other specialized applications and are not intended for public-road or highway use unless expressly stated in writing. The customer is responsible for confirming that products and services are appropriate for the customer’s intended application, except to the extent McColl Racing expressly agrees otherwise in writing.

McColl Racing will convey good title to products it sells, free of any security interest or encumbrance created by McColl Racing, subject to any rights or interests disclosed to the customer in writing.

2. DEPOSIT AND PAYMENT SCHEDULE

For each order or custom project, the customer must pay a non-refundable deposit equal to fifty percent (50%) of the total agreed purchase price. McColl Racing is not required to begin work until the deposit has been received. The deposit will be applied toward the total purchase price.

When McColl Racing notifies the customer that the product or work is complete and available for collection, the customer must pay all outstanding amounts in full within seven (7) calendar days of that notification. McColl Racing will not release the product until full payment has been received, including any applicable late fees or storage charges. The deposit and cancellation terms are subject to any rights that cannot legally be excluded or limited under applicable law.

3. LATE PAYMENT, COLLECTION DEADLINE AND STORAGE

The customer has seven (7) calendar days after notification that the order or service work is complete and available for collection to pay all outstanding amounts and take physical possession of the product (the “Payment and Possession Deadline”).

If the customer fails to pay the outstanding balance in full by the Payment and Possession Deadline, a late payment fee equal to two percent (2%) of the total purchase price will apply and will accrue daily, including the day full payment is made, to the extent permitted by applicable law.

If the customer fails to take physical possession of the product by the Payment and Possession Deadline, a storage charge of two hundred dollars (CAD $200) per day will apply for each day after the deadline that McColl Racing must continue to store the product for the customer, including the day the customer takes physical possession. If the customer has paid the purchase price in full but does not collect the product by the deadline, the storage charge will still apply. McColl Racing may withhold release of the product until applicable storage charges are paid, to the extent permitted by law.

If the customer has not taken physical possession of the product within twenty-one (21) calendar days after being notified that it is available for collection, McColl Racing may, subject to applicable law and any required notice or process, pursue its available remedies concerning the uncollected product and any amounts owing. The customer remains responsible for amounts lawfully due, including applicable late fees and storage charges. No forfeiture or disposal of customer property will occur except as permitted by applicable law.

4. CUSTOM ORDERS, SPECIFICATIONS AND CHANGES

The customer is responsible for providing accurate information regarding the vehicle, racing division, rules, intended use, measurements and other specifications relevant to an order or service. The customer must promptly advise McColl Racing of any applicable rule changes or requirements that may affect the project.

Unless McColl Racing expressly agrees otherwise in writing, the customer is responsible for confirming that the completed vehicle, parts and modifications comply with the rules of the applicable sanctioning body, track, event or racing series. Changes requested after work has started may affect the price, scope and completion date. McColl Racing will communicate material changes for approval where appropriate before proceeding.

5. PRODUCT CONDITION AND WARRANTY

New parts sold by McColl Racing are covered only by any manufacturer warranty that is provided with or expressly made applicable to the part, and that warranty is subject to the manufacturer’s terms, conditions, exclusions and claim process. The customer must contact the manufacturer or follow the manufacturer’s required process where applicable.

McColl Racing does not provide its own warranty or warranty coverage for chassis, complete race cars, custom-built products, modified components, fabrication, installation, setup, repairs, workmanship or other services, except where McColl Racing expressly agrees otherwise in a separate written document signed by an authorized representative. Nothing in these terms excludes any warranty, guarantee or right that cannot legally be excluded under applicable law.

Except as expressly stated in writing and subject to applicable law, McColl Racing does not guarantee any particular race result, lap time, finish, championship result or level of performance. Motorsports outcomes depend on many factors outside McColl Racing’s control.

6. INSPECTION AND ACCEPTANCE

The customer should inspect products and completed work promptly upon delivery or collection and notify McColl Racing in writing of any apparent issue within a reasonable time. The customer should not operate any vehicle or component that appears damaged, defective or unsafe. Inspection or acceptance does not limit rights the customer may have under applicable law.

7. MOTORSPORTS RISKS AND EXPRESS ASSUMPTION OF RISK

The customer acknowledges that motorsports, racing, vehicle testing and the use of racing products involve inherent and significant risks, including mechanical failure, loss of control, collisions, serious bodily injury, permanent disability, paralysis, death and damage to vehicles or other property.

To the extent permitted by applicable law, the customer voluntarily assumes the inherent risks associated with the ownership, transportation, storage, maintenance, testing and use of racing vehicles and products purchased from or serviced by McColl Racing. Racing vehicles and equipment should be operated only by persons with appropriate training, skill and experience, on suitable courses or facilities, and after inspection and maintenance by qualified persons as required.

The customer assumes the risks associated with disassembly, reassembly, adjustment, modification or alteration performed by the customer or by third parties after the product has been released by McColl Racing.

8. WAIVER AND RELEASE OF LIABILITY

To the extent permitted by applicable law, the customer acknowledges the risks described in these terms and releases McColl Racing, its owners, officers, employees, contractors, agents and affiliates from claims for loss or damage arising from the customer’s ownership, control, transport, storage, maintenance, modification or use of the product, including injury, death or property damage arising from the inherent risks of motorsports or from acts or omissions of the customer or third parties.

Any release relating to negligence, including alleged negligence by McColl Racing, applies only to the extent it is valid and enforceable under applicable law. Nothing in these terms releases or limits liability where such release or limitation is prohibited by law. McColl Racing may require a separate waiver for particular activities or services.

9. INSTRUCTIONS, MAINTENANCE AND MODIFICATIONS

The customer agrees to review and become familiar with any instructional or informational materials provided with a product, including information about adjustments and their potential impact on performance and handling. The customer is responsible for proper inspection, maintenance, installation and use, and for obtaining qualified service where appropriate.

To the extent permitted by law, McColl Racing is not responsible for damage caused by misuse, improper installation, failure to maintain, accident damage, unauthorized alteration or use outside the product’s intended application. This provision does not limit any non-waivable statutory rights.

10. INSURANCE

McColl Racing does not provide insurance coverage for the customer’s vehicle, parts or equipment, or for their operation, use, transportation, storage or maintenance. The customer is responsible for obtaining and maintaining insurance appropriate to the customer’s ownership and use, including any coverage required by law, a track, event organizer or sanctioning body.

11. INDEMNIFICATION

To the extent permitted by applicable law, the customer is responsible for claims, losses, costs and expenses arising from the customer’s negligent or wrongful acts, misuse of products, unauthorized modifications, breach of these terms or failure to follow applicable safety requirements. The customer agrees to indemnify and hold McColl Racing harmless from such claims, costs and expenses to the extent they arise from the customer’s acts or omissions. This section does not require indemnification for liability where such indemnification is prohibited by law.

12. LIMITATION OF LIABILITY

To the extent permitted by applicable law, McColl Racing will not be liable for indirect, incidental, special or consequential losses, including loss of use, lost profits, lost prize money, missed events or race results, arising from a product or service. Nothing in these terms excludes or limits liability where such exclusion or limitation is prohibited by applicable law.

13. SUBSEQUENT SALE OR TRANSFER

If the customer sells, leases or transfers a vehicle or product purchased from McColl Racing, the customer should provide the subsequent owner or user with relevant operating instructions, safety information, warnings and manufacturer warranty documents, and should advise that motorsports use involves significant risks.

14. WEBSITE INFORMATION AND PRODUCT AVAILABILITY

McColl Racing makes reasonable efforts to keep website information, descriptions, pricing and availability accurate. Errors or changes may occur, and products may be updated, discontinued or become unavailable. Website information is general and does not guarantee compatibility with a particular vehicle or application unless McColl Racing confirms compatibility in writing. Any mandatory online purchase disclosures, cancellation rights and other consumer rights under applicable law continue to apply.

15. PRIVACY

Please refer to McColl Racing’s Privacy Policy for information about how personal information is collected, used, disclosed and retained.

16. GOVERNING LAW AND SEVERABILITY

These terms are governed by the laws of Ontario and the applicable laws of Canada, except where mandatory law requires otherwise. If any provision is found to be invalid or unenforceable, the remaining provisions will continue in effect to the extent permitted by law.

17. ENTIRE AGREEMENT AND AMENDMENTS

The applicable quotation, order confirmation, invoice, service authorization, these terms and any separate written agreement together set out the agreement between McColl Racing and the customer for the relevant transaction. Any amendment to a customer-specific agreement should be made in writing and accepted by the parties. If terms conflict, the parties should identify in writing which terms govern.

18. CUSTOMER ACKNOWLEDGEMENT

By signing below, placing an order, or authorizing work after receiving these terms, the customer acknowledges having had an opportunity to read and ask questions about them. Where a separate waiver or acknowledgement is required, it must be provided and signed separately in the form approved by McColl Racing.