Thank you for your interest in The design and implementation of Platts' control procedures to effectively address the provisions of the Principles for Oil Price Reporting Agencies published by the International Organization of Securities Commissions ("IOSCO") dated as of October 2012 (the "Principles") , including those portions prepared by Ernst & Young LLP ("EY") (the "Report").


This report is intended solely for the purpose of reporting on the design and implementation of Platts' control procedures of the Platts Methodology Framework as they relate to the provisions of the Principles. EY have been appointed as external auditors to "review and report on the PRA's adherence to its stated methodology criteria and with the requirements of the principles" in accordance with principle 2.21.


The report should be read in full to understand the procedures performed, the conclusions reached and any limitations.


For the avoidance of doubt, S&P Global Inc. and EY accept no duty of care or responsibility to the recipient or any other party into whose hands this report may come and you are not permitted, to copy or forward the report or any part of it to any other parties.


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By clicking on the "I ACCEPT" button below, you agree, on behalf of yourself and the entity obtaining access to the Report hereunder (the "Recipient"), to be bound by all of the below covenants, understandings, terms and conditions. Such acceptance and agreement shall be deemed to be as effective as a written signature by you, the recipient of the Report (also referred to herein as, the Recipient), and this agreement shall be deemed to satisfy any writings requirement of any applicable law.


1. Use of Report. Platts has published the Report for informational purposes only. You agree that you will access and use the Report only for your internal and non-commercial purposes. You acknowledge and agree that you shall not use the Report as the basis of a claim against Platts or its affiliates including its parent company S&P Global Inc. or EY. None of such parties will have any liability in contract, tort, or otherwise to you or any other third party in relation to the contents of the Report.


2. Voluntary Alignment and Interpretation of Principles. As recognized by IOSCO, Platts and other Price Reporting Agencies' ("PRAs") alignment with the Principles is voluntary. The Principles suggest that PRAs use 'reasonableness' in implementing the Principles. Accordingly, the Report and Platts' alignment with the Principles reflect Platts' interpretation of the Principles based on its experience in providing price assessments and the principle of 'reasonableness'.


3. Updates to Business Operations. Platts may update, modify, or adapt its business practices, procedures and/or policies referenced in the Report from time to time as a result of changing business conditions or to comply with legal or regulatory requirements or guidelines.


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5. Terms of Use. These terms are in addition to and supplement the Terms of Use of Platts website, which are available online at URL https://www.spglobal.com/platts/en/about-platts/website-terms-of-use. Without limiting the generality of the foregoing, the Report will be considered to be "Content" pursuant to the Terms of Use. Notwithstanding anything to the contrary set forth in these terms and conditions or in the Terms of Use of Platts website, redistribution and/ or reproduction of the Report in whole or in part are prohibited without written permission of Platts. Distribution or disclosure of any portion of the Report or any information or advice contained therein is prohibited.


6. General Terms. There are no third party beneficiaries of these terms other than Platts' affiliates including its parent company, S&P Global Inc. Inc., and EY. Terms used herein and not otherwise defined have the meanings assigned to them in the Principles. These terms may be updated from time to time. EY was engaged by Platts to perform an examination Platts' detailed response regarding its alignment to the Principles for the period 1 October, 2017 to 30 September, 2018 (the "Services"). Platts has informed EY that it wishes to disclose a copy of the Report in connection with the Services to the entity obtaining access hereunder (referred to herein as, the "Recipient").


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