Effective date: May 2026 — Version 1.1

These Terms & Conditions (“Agreement”) govern your access to and use of Naora, a private invitation-only sailing membership operated by Redwind BV (“Naora”, “we”, “us”, or “our”). This includes your membership, participation in expeditions and journey segments, use of the Naora digital platform, and all related services provided by Naora.

By applying for membership, accepting an invitation, or engaging with any Naora service, you acknowledge that you have read, understood, and agree to be bound by this Agreement in its entirety. If you do not agree with any part of these terms, you may not access or use Naora services.

These Terms should be read alongside Naora’s Privacy Policy and any supplemental documentation provided to you during the membership process. In the event of conflict, these Terms take precedence unless expressly stated otherwise.

1. Membership

1.1 Nature of Membership

Naora operates as a private, invitation-only membership platform granting access to a five-year global sailing expedition aboard a luxury catamaran. Membership does not constitute ownership of any asset, vessel, or equity in Redwind BV, nor does it create any employment, partnership, or agency relationship between the member and Naora.

Access to journey segments is granted exclusively through an active, paid membership in good standing and is at all times subject to availability, scheduling constraints, and adherence to this Agreement.

1.2 Membership Tiers

Naora offers three distinct membership tiers, each defining a specific allocation of days aboard, access privileges, and associated fee structure:

— Coastal Membership: Entry-level access with a defined annual day allocation, suited for members seeking periodic participation in shorter coastal segments.

— Offshore Membership: Mid-tier access offering an expanded day allocation and eligibility for a broader range of journey legs, including passages across open ocean.

— Navigator Membership: Premium access with the highest day allocation and priority scheduling rights across all journey segments worldwide.

The specific day allocations, one-time entry fees, annual membership fees, and associated privileges for each tier are detailed in the Membership Prospectus provided to each applicant. Naora reserves the right to modify tier structures and pricing for future membership cohorts with reasonable advance notice.

1.3 Invitation & Selection

Membership in Naora is by invitation only. Naora exercises sole discretion in the selection of members, with the goal of assembling a community of entrepreneurs, creatives, and high-net-worth individuals who share a commitment to adventure, mutual respect, and meaningful connection.

Receipt of an invitation does not guarantee membership. Final admission is subject to completion of the application process, payment of the applicable entry and membership fees, and acceptance of these Terms.

1.4 Personal Nature of Membership

Memberships are personal and non-transferable as a general rule. Members may not sell, assign, sublicense, or otherwise transfer their membership to a third party without prior written approval from Naora. In limited circumstances and at Naora’s sole discretion, specific usage rights (such as day allocations) may be transferred or gifted to a pre-approved individual, subject to conditions communicated in writing by Naora.

Corporate or group memberships may be available under separate arrangements as outlined in the Corporate Access documentation.

1.5 Membership Term & Renewal

Memberships are issued on an annual basis and are linked to the active duration of the Naora global expedition, which spans a five-year circumnavigation. Renewal terms, pricing, and availability will be communicated to members in advance of each annual cycle.

Naora does not guarantee membership availability beyond the current contracted term. Should the expedition conclude earlier than scheduled due to force majeure or unforeseen operational circumstances, members will be notified promptly and applicable refund provisions will apply.

2. Participation & Journey Access

2.1 Booking Journey Segments

Members book journey segments (individual legs of the global route) through the Naora platform or directly with the Naora team. All bookings are subject to availability and are confirmed only upon receipt of full payment and written confirmation from Naora.

Members are encouraged to book segments well in advance, particularly for high-demand destinations. Naora operates a first-confirmed, first-served allocation system within each membership tier, with Navigator members receiving priority booking windows.

2.2 Minimum Requirements for Participation

All participants must meet the following baseline requirements prior to joining any journey segment:

— Physical fitness adequate for life at sea, including the ability to move safely on a moving vessel in varying weather conditions.

— Comfort in open water and basic swimming ability. Naora does not require advanced sailing skills, but a non-swimmer will not be permitted to participate.

— Valid travel documentation (passport, visa) for all destinations included in the booked segment.

— Completion of the Naora Health & Physical Readiness assessment, submitted prior to the first journey segment.

— Appropriate travel and medical insurance covering offshore maritime activities, medical evacuation, and the full duration of the booked segment (see Section 7).

Members who cannot meet these requirements at the time of departure may be denied boarding without entitlement to a refund, at the captain’s sole discretion.

2.3 Route Flexibility & Operational Adjustments

Naora is a live expedition. The published global route spans 45,000+ nautical miles across 183+ destinations across multiple ocean basins and cruising regions. While every effort is made to follow the planned itinerary, the nature of offshore sailing means that routes, schedules, ports of call, and segment durations are inherently subject to change.

Naora reserves the right to modify any aspect of the journey, including but not limited to:

— Rerouting around severe weather systems, political instability, or restricted maritime zones.

— Substituting ports of call with comparable alternatives due to port closures, swell conditions, or clearance issues.

— Delaying or extending segment durations due to technical requirements, crew welfare, or safety factors.

Such adjustments do not constitute a breach of contract and do not give rise to refund claims unless a segment is cancelled entirely by Naora (see Section 4).

2.4 Disembarkation

Members are responsible for arranging their own transportation to and from embarkation and disembarkation points. Naora will provide confirmed locations and timing at least 14 days in advance of each segment. Changes to disembarkation port required by operational necessity will be communicated as early as possible.

3. Payments & Financial Arrangements

3.1 Fees & Payment Schedule

Membership with Naora comprises two financial components:

— One-Time Entry Fee: A non-refundable admission fee payable upon acceptance of membership, covering onboarding, access setup, and curation costs.

— Annual Membership Fee: A recurring fee payable at the start of each membership year, covering your day allocation, access to all journey segments within that year, onboard hospitality, professional crew services, and use of the Naora platform.

Additional costs not included in the membership fee — such as international flights, visas, personal travel insurance, ground transportation, and personal expenditure ashore — are the sole responsibility of the member.

3.2 Accepted Payment Methods

Naora accepts the following payment methods for all membership fees and segment costs:

— International bank transfer (SWIFT/SEPA)

— Major credit and debit cards via secure payment processor

— Selected cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), settled at the exchange rate prevailing at the time of transaction confirmation

All payments must be received and cleared in full prior to booking confirmation. Naora is not responsible for exchange rate fluctuations, transaction fees, or delays associated with international transfers or cryptocurrency settlements.

3.3 Escrow Structure

Member funds are secured through an independent third-party escrow arrangement. Upon receipt of payment, funds are held in escrow and released to Naora only upon commencement of the confirmed journey segment. This structure is designed to protect member interests in the event of unforeseen operational circumstances prior to departure.

Full details of the escrow terms, escrow agent identity, and release conditions are provided in the Membership Agreement documentation issued to each member.

3.4 Late Payment

If any payment is not received by the due date, Naora reserves the right to suspend booking rights, release reserved segment dates, or terminate membership. Naora will provide reasonable notice before taking such action. Reinstatement following a payment default may be subject to an administrative fee and is at Naora’s discretion.

4. Changes & Cancellations

4.1 Member-Initiated Changes

Members are encouraged to communicate changes to planned participation as early as possible. Subject to availability, booked segment dates may be rescheduled without penalty if notice is provided at least 60 days prior to the scheduled embarkation date.

For changes requested between 30 and 60 days prior to departure, a rescheduling fee may apply. Changes requested within 30 days of departure will be treated as cancellations under the policy below.

4.2 Member Cancellations

The following cancellation policy applies to confirmed segment bookings:

— Cancellation 60+ days before departure: Full segment credit applied to future booking within the same membership year.

— Cancellation 30–59 days before departure: 50% segment credit, subject to availability for rebooking.

— Cancellation within 30 days of departure: No credit or refund. The segment allocation is forfeited.

Annual membership fees are non-refundable once the membership year has commenced. The one-time entry fee is non-refundable under all circumstances.

Cancellation due to a documented medical emergency may be considered for exceptional treatment at Naora’s discretion, subject to provision of relevant supporting documentation.

4.3 Naora-Initiated Changes & Cancellations

In the event that Naora cancels a confirmed segment for reasons within its control (not including force majeure), affected members will receive a full credit for the value of that segment applicable to any future booking within the expedition period.

In the event of cancellation due to force majeure — including but not limited to extreme weather events, geopolitical crises, vessel damage requiring extended repair, or public health emergencies — Naora will endeavour to offer rescheduling or partial credit but accepts no liability for consequential losses incurred by members (flights, accommodation, etc.).

Naora reserves the right to cancel a member’s participation at any time, without refund, in cases of material breach of this Agreement, violation of onboard conduct standards, or behaviour that threatens the safety, wellbeing, or experience of others aboard.

5. Life Onboard & Onboard Conduct

5.1 The Onboard Environment

Life aboard Naora takes place on a professionally operated 80-foot luxury catamaran (Lagoon Eighty2), crewed by a captain, chef, and stewardess. Naora is designed to offer a premium, immersive experience that balances adventure with comfort. Members are guests in a shared living and working environment and are expected to engage accordingly.

5.2 Standards of Conduct

All participants — members, guests, and crew — are expected to uphold the highest standards of mutual respect, discretion, and collegiality at all times. The Naora community is built on trust, and conduct that undermines that trust will not be tolerated.

The following behaviours are strictly prohibited onboard:

— Verbal or physical harassment, intimidation, or aggressive conduct toward any person aboard.

— Discrimination on the basis of nationality, gender, age, religion, sexual orientation, or any other characteristic.

— Possession or use of illegal substances aboard the vessel or in any marina or anchorage.

— Wilful damage to the vessel, equipment, or personal property of others.

— Sharing confidential information about fellow members, their identities, or their business affairs with any third party.

— Unsolicited photography or recording of other members or crew without explicit consent.

Any participant found to be in breach of these standards may be asked to disembark at the next available port, with no right to refund, at the absolute discretion of the captain.

5.3 Captain’s Authority

The captain holds full and unquestioned authority over all matters relating to the safety, navigation, and operational management of the vessel. All persons aboard are required to follow the captain’s instructions without delay or objection in situations involving vessel safety. This authority supersedes membership tier, personal preference, or any other consideration.

The captain may also make decisions regarding schedule changes, port selection, weather routing, and crew management that are final and not subject to override by members.

5.4 Vessel Rules & Safety Briefing

Upon embarkation, all members will receive a mandatory safety briefing covering emergency procedures, life-saving equipment, watch protocols (if applicable), and vessel rules. Participation in this briefing is compulsory. Members are expected to familiarise themselves with the location of safety equipment and to follow all safety protocols without exception.

Smoking is permitted only in designated areas on deck. Bringing firearms, weapons, or hazardous materials aboard is strictly prohibited.

5.5 Alcohol & Wellbeing

Naora maintains a fully stocked bar and wine cellar as part of the onboard experience. Members are expected to consume alcohol responsibly. The captain and crew reserve the right to limit or restrict alcohol consumption if, in their judgement, a member’s behaviour or physical condition poses a safety risk.

6. Health, Safety & Member Responsibility

6.1 Health Declaration

Prior to their first journey segment, all members must complete a Health & Physical Readiness Declaration confirming that they are medically fit to participate in offshore sailing. This includes disclosing any pre-existing medical conditions, medications, or physical limitations that could affect their safety or the safety of others aboard.

Naora does not provide medical care beyond basic first aid. Members with complex medical needs must ensure that they have adequate personal provision and that their conditions do not contradict participation in offshore maritime activity.

6.2 Vaccinations & Entry Requirements

Members are solely responsible for ensuring they hold valid vaccinations, health certificates, and entry requirements for each destination visited during their booked segment. Requirements vary by region and may include yellow fever certificates, malaria prophylaxis, or other health documentation. Naora will provide destination-specific guidance as part of pre-departure member communications but cannot be held responsible for a member’s failure to comply.

6.3 Personal Belongings

Members are responsible for the safe keeping of all personal belongings brought aboard. Naora and its crew accept no liability for loss, theft, or damage to personal items. Storage space aboard is limited, and members are encouraged to consult the Naora “What to Pack” guide when preparing for a segment.

6.4 Member Responsibility for Damages

Members will be held financially responsible for any damage to the vessel, equipment, or fittings caused by their wilful negligence or reckless behaviour. The cost of repairs or replacement will be assessed by the captain and invoiced directly to the responsible member.

7. Liability & Insurance

7.1 Inherent Risks of Offshore Sailing

Participation in offshore sailing involves inherent risks that cannot be entirely eliminated, including but not limited to: adverse weather and sea conditions, vessel motion and the risk of falls, marine wildlife, sun and heat exposure, dehydration, and the physical demands of extended time at sea. By participating, members acknowledge and accept these risks.

Naora takes all reasonable and prudent measures to ensure the safety of persons and the vessel, including adherence to international maritime safety standards, regular vessel maintenance, and the employment of qualified, experienced crew. However, no guarantee of absolute safety can be given.

7.2 Limitation of Liability

To the maximum extent permitted by applicable law, Naora, Redwind BV, and its officers, directors, crew, and agents shall not be liable for:

— Personal injury, illness, or death arising from participation in any journey segment.

— Loss or damage to personal property aboard the vessel or ashore.

— Delay, disruption, or cancellation of any journey segment due to weather, mechanical failure, force majeure, or other circumstances beyond Naora’s reasonable control.

— Loss of enjoyment, consequential losses, or indirect damages of any kind.

Nothing in this Agreement limits Naora’s liability for fraud, gross negligence, or wilful misconduct, or in any manner that would contravene mandatory applicable law.

7.3 Mandatory Insurance

All members are required, as a condition of participation, to hold valid comprehensive travel and medical insurance that explicitly covers:

— Offshore and ocean sailing activities

— Emergency medical evacuation by sea or air from international waters

— Repatriation costs

— Trip cancellation and curtailment

Members must be able to provide evidence of adequate insurance coverage upon request by Naora. Naora reserves the right to deny boarding to any member unable to confirm appropriate insurance.

7.4 Indemnification

Members agree to indemnify and hold harmless Naora, Redwind BV, and its crew from any claims, damages, losses, or expenses (including legal fees) arising from the member’s breach of this Agreement, negligence, or wilful misconduct during any journey segment.

8. Privacy & Confidentiality

8.1 Member Privacy

Naora is built on a foundation of discretion. The identities, affiliations, and personal information of Naora members are treated as strictly confidential. No member’s name, image, or personal information will be used in Naora’s marketing, social media, press materials, or any public communication without that member’s explicit written consent.

8.2 Personal Data

Naora collects and processes personal data in accordance with its Privacy Policy, which forms part of this Agreement. Members’ personal data is used solely for the purposes of administering membership, facilitating journey logistics, complying with legal obligations, and communicating relevant information to members.

Naora does not sell, share, or otherwise transfer member data to third parties except as required for operational purposes (e.g., port authorities, visa processing) or as required by law. Full details of data processing activities are set out in the Privacy Policy available at naora.world/privacy-policy.

8.3 Onboard Photography & Media

Members may photograph and record content aboard for personal use. Sharing identifiable images of fellow members or crew on public platforms, or in any media, is prohibited without the explicit consent of the individuals depicted. Naora’s crew may create editorial photography and video content for brand and marketing use; members will be notified in advance and may opt out of being included.

8.4 Community Confidentiality

Members agree to treat all information shared within the Naora community — including information about fellow members, business discussions, and personal conversations — as confidential. This obligation survives the termination of membership.

9. Use of the Naora Platform

9.1 Platform Access

Active members are granted personal, non-exclusive access to the Naora digital platform for the purpose of managing bookings, accessing member resources, and communicating with the Naora team. Access is provided for personal use only and may not be shared, sublicensed, or transferred.

9.2 Account Security

Members are responsible for maintaining the confidentiality of their login credentials and for all activities conducted through their account. Any suspected unauthorised use must be reported to Naora immediately at [email protected]. Sharing login credentials with third parties is strictly prohibited and may result in immediate membership suspension.

9.3 Prohibited Platform Use

Members may not use the Naora platform to:

— Solicit commercial business from fellow members without Naora’s prior written consent.

— Upload, share, or distribute unlawful, defamatory, or harmful content.

— Attempt to gain unauthorised access to other member accounts or Naora’s systems.

— Use automated tools, scrapers, or bots to extract data from the platform.

9.4 Platform Availability

Naora makes reasonable efforts to maintain platform availability but does not guarantee uninterrupted access. Scheduled maintenance, technical issues, or circumstances beyond Naora’s control may result in temporary unavailability. Naora accepts no liability for losses arising from platform downtime.

10. Intellectual Property

All content created by or on behalf of Naora — including the brand identity, logo, website content, photography, video, written materials, route documentation, and member resources — is the exclusive intellectual property of Redwind BV and is protected by applicable copyright and trademark law.

Members may not reproduce, distribute, modify, or publicly display any Naora intellectual property without prior written authorisation. Feedback, suggestions, or ideas submitted by members regarding Naora’s services may be used by Naora without compensation or attribution.

11. Amendments to these Terms

Naora reserves the right to update or amend these Terms & Conditions at any time. Members will be notified of material changes via the registered email address on their account, with a minimum of 30 days’ notice before any changes take effect.

Continued participation in any Naora service following notification of an amendment constitutes acceptance of the revised Terms. If a member does not accept material changes to these Terms, they may terminate their membership in accordance with the cancellation provisions in Section 4, with such termination taking effect prior to the new terms entering into force.

12. Governing Law & Dispute Resolution

12.1 Governing Law

This Agreement is governed by and construed in accordance with the laws of the Netherlands. Redwind BV is a Dutch company registered under Dutch law, and all contractual obligations between Naora and its members shall be interpreted accordingly.

12.2 Dispute Resolution

In the event of any dispute arising from or relating to this Agreement or any Naora service, the parties agree to first seek resolution through good-faith negotiation. Members are encouraged to contact Naora directly at [email protected] to raise any concerns.

If a dispute cannot be resolved through negotiation within 30 days, the matter shall be referred to mediation under the rules of a mutually agreed mediator prior to the initiation of formal legal proceedings. Nothing in this clause prevents either party from seeking urgent injunctive relief where necessary.

12.3 Jurisdiction

Subject to the mediation clause above, both parties submit to the exclusive jurisdiction of the courts of Amsterdam, The Netherlands, for the resolution of any disputes that cannot be settled amicably.

13. General Provisions

13.1 Entire Agreement

This Agreement, together with the Membership Prospectus, Privacy Policy, and any supplemental documentation issued to a member, constitutes the entire agreement between the member and Naora with respect to the subject matter herein, and supersedes all prior representations, understandings, or agreements.

13.2 Severability

If any provision of this Agreement is found to be invalid, unlawful, or unenforceable by a court of competent jurisdiction, that provision shall be modified to the minimum extent necessary to make it enforceable, or severed from the Agreement, while all remaining provisions continue in full force and effect.

13.3 Waiver

Naora’s failure to enforce any right or provision under this Agreement does not constitute a waiver of that right or provision. Any waiver must be in writing and signed by an authorised representative of Naora to be effective.

13.4 Force Majeure

Naora shall not be liable for any failure or delay in the performance of its obligations to the extent such failure or delay is caused by circumstances beyond Naora’s reasonable control, including acts of God, war, terrorism, governmental actions, epidemics or pandemics, extreme weather, port closures, or maritime emergencies.

13.5 Language

These Terms are provided in English. In the event of any conflict between an English version and a translation, the English version shall prevail.

14. Contact

For any questions, concerns, or notices relating to these Terms & Conditions, please contact Naora at:

Redwind BV — operating as Naora

Email: [email protected]

Website: naora.world

WhatsApp: via naora.world/contact