This Auction will be both In-Person and Online, simultaneously. Therefore, interested parties, as long as they are previously registered and signed up according to the terms below, may participate by making “bids” either virtually, electronically, or verbally in person.

Those interested in participating in the Auction must register in advance by completing and sending the registration form to the email geral@alterreal.pt by 12:00 PM on April 24, 2025.

For the registration to be valid and effective, participants must complete all identification details, namely name, address (with proof of address issued by the Tax Authority), ID card or citizen card number, taxpayer number, and email address.

In the case of participating on behalf of a legal entity, proof of proper representative authority must be provided at the time of registration. The same applies if representing a third party, in which case a valid and notarized power of attorney must be submitted.

Participants must also provide billing information, as the sold products will be invoiced in the name of the awarded bidder immediately after the Auction ends.

After completing registration, email account confirmation will be required. This confirmation is essential for validating the email and allowing the user to place bids.

To validate the registration, a security deposit of €25 is required, which will be refunded or deducted from the final payment if one or more horses are acquired.

Once the payment is made, Companhia das Lezírias, SA, will provide each duly registered bidder access to the online bidding platform via a username and password. In-person participants will receive a paddle to participate in the auction on April 24, 2025, upon confirmation of compliance with sections 2 to 7 of these Regulations.

From the moment a participant submits their registration for the Auction, either in-person or online, they irrevocably agree to the provisions of these Regulations. Failure to comply or claiming ignorance may result in civil liability and disqualification from future public or private horse auctions by Coudelaria de Alter or Companhia das Lezírias, S.A.

The selected horses for sale can be viewed through photos and videos available online at (www.alterreal.pt) and the YouTube channel alterrealstudfarm.

Horses may also be viewed and tested at Coudelaria de Alter until 5 PM on April 11, 2025, by appointment. Viewing without testing is allowed until 5 PM on April 22, by appointment.

Companhia das Lezírias, S.A. / Coudelaria de Alter reserves the right to change the number of horses announced and to withdraw any from sale without the need to justify such decisions publicly.

Horses are sold in their current health and physical condition. It is the sole responsibility of the bidder to verify that this condition is suitable for their intended use.

All clarifications requested by the participant from Coudelaria de Alter will be provided via email within two business days after the request is received.

Access to diagnostic imaging (e.g. radiographs, reproductive ultrasounds), conducted by veterinarians from the University of Évora, must be requested by email to geral@alterreal.pt, mentioning the name(s) of the horse(s).

The information in these files and documents does not replace a pre-purchase examination by a veterinarian, at the buyer’s own expense. This can be arranged until 5 PM on April 17, 2025, with at least two business days’ notice, subject to availability.

The starting bid price for each horse is published on the Coudelaria de Alter website.

Bids below the base price will not be accepted.

The award criterion will be solely the highest purchase offer.

After the bidding period ends, which occurs at the close of the in-person Auction on April 24, 2025, the highest bidder for each horse will be contacted via email by Companhia das Lezírias, SA, by 9 PM the same day to formalize the award and receive purchase instructions.

The awarded bidder must pay the full amount either at the end of the in-person auction or within 24 hours if participating online, by bank transfer to an account provided in the award confirmation.

Acceptance of the bid by Companhia das Lezírias, S.A. constitutes a legally binding sales contract for a live animal. The contract is legally enforceable, and the seller’s acceptance email serves as official confirmation.

The horse(s) may only be collected after full payment and signing of the corresponding Sales Contract.

Buyers must collect their horses by May 5, 2025, without exception.

Failure to collect the horse(s) by the deadline will result in automatic contract termination. The horse will revert to the seller, and any payment made will be forfeited as compensation for breach of contract.

The collection and transportation of the horse(s) are the sole responsibility of the buyer, including loading onto the transport vehicle.

Platform malfunctions may compromise the online Auction or affect one or more lots.

Platform issues may affect all users, a group of users, or specific users who may be unable to register, access their account, place bids, or receive or correctly process notifications.

Neither Companhia das Lezírias, S.A. nor its representatives, employees, or contractors will be liable for any platform issues unless caused intentionally (maliciously).

There may be periods of unavailability or errors on the platform due to various reasons including Internet issues, overloads, viruses, cyberattacks, or programming errors.

In case of a platform malfunction, Companhia das Lezírias, S.A. may, but is not obligated to, repeat the auction on a new date or resell the affected horses through another auction.

If a platform malfunction occurs during the auction, the auctioneer has full discretion to decide how to proceed and may continue the auction online until midnight the following day if needed.

The auctioneer is responsible for conducting both the in-person and online auctions and has full decision-making authority to resolve any issues that arise.

Under Law No. 83/2017 of August 18 and Regulation (EU) No. 314/2018 of May 25, Companhia das Lezírias, S.A. / Coudelaria de Alter must comply with anti-money laundering and anti-terrorism financing regulations. Identification and due diligence are required for business relationships and transactions of €15,000 or more, regardless of payment method.

In accordance with the General Data Protection Regulation (GDPR) and its Privacy Policy, Companhia das Lezírias, S.A. undertakes to process personal data lawfully, in good faith, and with full confidentiality, ensuring the data is appropriate, relevant, and not excessive for its intended purposes.

Alter do Chão, March 11, 2025
The Management of Companhia das Lezírias, S.A.