UPDATE ON FIS - DECEMBER 8, 2025

Due to changes in support for FIS by Wealthsimple’s third-party service providers, Wealthsimple will no longer be able to meet liquidity requirements for FIS to continue supporting the asset.

Wealthsimple will be removing support for StaFi (FIS) on December 11, 2025. You will no longer be able to buy or deposit FIS on Wealthsimple as of Tuesday, December 9, 2025. You will no longer be able to sell or withdraw FIS as of December 11, 2025. If any FIS remains in your account on December 11, 2025, at 12 pm EST, Wealthsimple will liquidate the FIS on your behalf.

What is StaFi?

StaFi is a liquid staking protocol that allows users to stake Proof-of-Stake (PoS) assets while maintaining liquidity through the issuance of tradable and redeemable "rTokens." The protocol supports multiple PoS networks, enabling stakers to earn rewards without locking up their capital and to participate in DeFi simultaneously. Its native token, FIS, plays a central role in the issuance and redemption of rTokens and supports staking, trading, and governance functions across the StaFi ecosystem.

What is FIS?

The native token of the protocol, FIS, exists as an ERC-20 token on Ethereum, enabling cross-chain interoperability and integration with external DeFi platforms. Holders can use FIS to secure the network through staking, pay transaction and minting fees, and participate in governance by voting on protocol proposals. The token has an uncapped supply, with approximately 119.19 million FIS in circulation at the time of this publication.

Risk Statement

Before trading any crypto assets it is important to understand the risks. This overview is a starting point for you to perform your own research prior to investing in a crypto asset. 

No securities regulatory authority or regulator in Canada has evaluated or endorsed the Crypto Contracts or any of the crypto assets made available through the platform. 

Wealthsimple has performed an assessment of whether FIS can be supported by Wealthsimple's platform, including whether FIS is a security and/or a derivative and is being offered in compliance with securities and derivatives laws.

We evaluated FIS based on publicly available information, including (but not limited to):

• The creation, governance, usage and design of FIS, including the source code, security and roadmap for growth in the developer community and, if applicable, the background of the developer(s) that first created FIS;
• The supply, demand, maturity, utility and liquidity of FIS;
• Material technical risks associated with FIS, including any code defects, security breaches and other threats concerning FIS and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them;
• Legal and regulatory risks associated with FIS, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of FIS; and
• Statements made by regulators or securities regulatory authorities in Canada and other jurisdiction regarding whether FIS, or generally about whether the type of crypto asset, is a security and/or a derivative.

Wealthsimple monitors ongoing developments related to crypto assets available on its platform for significant changes that may affect Wealthsimple's original assessment of those assets, including Wealthsimple's assessment of the application of securities and derivatives laws. Any significant changes relating to FIS may result in changes to this Crypto Asset Statement and/or Wealthsimple's ability to support FIS.

Like all other crypto assets, there are some general risks to investing in FIS. These include short history risk, volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk, electronic trading risk and cyber security risk. Please review the Wealthsimple Crypto Product Risk Disclosure for additional discussion of general risks associated with the crypto assets made available through the platform.

We emphasize that this Crypto Asset Statement is not exhaustive of all risks associated with trading FIS. Investors should perform their own assessment to determine the appropriate level of risk for their personal circumstances.

Wealthsimple is offering Crypto Contracts in reliance on a prospectus exemption contained in the exemptive relief decision Re Wealthsimple Investments Inc. dated December 18, 2023 (the Decision). 

The statutory rights of action for damages and rescission in section 130.1 of the Securities Act (Ontario), and, if applicable, similar statutory rights under securities legislation of other jurisdictions of Canada, do not apply in respect of this Crypto Asset Statement to the extent a Crypto Contract is distributed under the prospectus relief in the Decision.

Last updated: December 8, 2025