Barclays Natural Resource Investments

Please read the following terms and conditions carefully
The following are the terms and conditions on which you may use the Barclays Natural Resource Investments website (the "Site") and by accessing this Site you agree to be bound by them. Barclays Natural Resource Investments is a division of Barclays Capital, the investment banking division of Barclays Bank PLC, and its affiliated companies worldwide. Barclays Bank PLC. Registered in England. Registered No: 1026167. Registered Office: 1 Churchill Place, London, E14 5HP.

Use of Site
We may in our sole discretion terminate your access to or use of this Site for any reason, including without limitation where we believe that you have not acted in accordance with the terms and conditions of this Site.

EU customers
Barclays Capital complies with the Electronic Commerce Directive.

Regulator and responsibility
The Site is maintained by Barclays Bank PLC and is made available to persons based in the United Kingdom by that company. Barclays Bank PLC is regulated by The Financial Services Authority.

For persons in the USA, Barclays Capital Inc. accepts responsibility for the contents of any information on the Site considered to be a research report. Any orders, originating in the USA, resulting from any research report, should be placed through Barclays Capital Inc. Additional information concerning this report will be furnished upon request. Barclays Capital Inc is a registered Broker Dealer with FINRA (see link above) and a member of SIPC.

For other persons the Site is made available at the request of the relevant local Barclays Capital entity in their jurisdiction with Barclays Bank PLC acting merely as agent for that entity. The local Barclays Capital entity takes responsibility for the contents of the Site.

Accuracy of information
All information on the Site is issued subject to Barclays Capital's terms of business which clients are encouraged to read. Clients can obtain a copy of the terms of business from their legal or compliance departments or from Barclays Capital's legal division.

The information contained on the Site may have been taken from trade and statistical services and other sources which we deem reliable. We do not represent that such information is accurate or complete and it should not be relied upon as such. Any opinions expressed on the Site reflect our judgement at the date of issue of the relevant report and are subject to change without notice. Any pricing is indicative and does not, and is not intended to, constitute either an offer to buy or sell nor a representation that a purchase or sale can be effected at that price. Past performance is not indicative of future results.

Barclays Capital or its affiliates may, where permitted by law, act upon material available on the Site prior to its publication on the Site.

Disclosure of interests
Barclays Natural Resource Investments hold and manage positions in the natural resources portfolio companies referred to on this site. Barclays Capital or its employees may, from time to time, maintain a long or short position in securities referred to on the Site or other securities of issuers referred to on the Site or in related futures or options; purchase or sell, make a market in, or engage in any other transactions involving such securities or issuers, earn brokerage or other compensation in respect of the foregoing; and provide investment banking, credit or other services to any issuer named on the Site. Barclays Capital may have acted as manager or co-manager of a public offering of securities discussed on the Site in the past three years.

No offer
Nothing on this Site should be construed as a solicitation or offer, or recommendation, to acquire or dispose of any investment or to engage in any other transaction, or to provide any investment advice or service.

No warranty
Although we have taken all reasonable care to ensure that the information provided on this Site is accurate, we give no warranties of any kind. ALL CONTENT AND THE WEB SITE ITSELF ARE PROVIDED “AS IS” WITHOUT ANY WARRANTY OF ANY KIND. BARCLAYS CAPITAL MAKES NO REPRESENTATIONS OR WARRANTIES AND, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY EXPRESSLY DISCLAIMS ANY AND ALL EXPRESS, IMPLIED AND STATUTORY REPRESENTATIONS AND WARRANTIES OF ANY KIND TO USER AND/OR ANY THIRD PARTY INCLUDING, WITHOUT LIMITATION, ANY WARRANTY AS TO ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, AND/OR FREEDOM FROM COMPUTER VIRUS.

Opinions and any other content on the Site are provided by us for personal use and informational purposes only and are subject to change without notice.

Nothing contained on the Site constitutes investment, legal, tax or other advice and is not to be relied on in making an investment or other decision. You should obtain relevant and specific professional advice before making any investment decision.

No liability
We will accept no liability in any event including (without limitation) negligence for any damages or loss of any kind, including (without limitation) direct, indirect, incidental, special or consequential damages, expenses or losses arising out of, or in connection with your use or inability to use the Site, or in connection with any error, omission, defect, computer virus or system failure, or loss of any profit, goodwill or reputation, even if expressly advised of the possibility of such loss or damages, arising out of or in connection with the access of, use of, performance of, browsing in or linking to other sites from this Site.

We do not exclude our duties or liabilities under the Financial Services and Markets Act 2000.

We reserve the right to modify, suspend or discontinue, temporarily or permanently, the Site or any part of it, with or without notice, at any time. You agree that we shall not be liable to you or to any third party for any such modification, suspension or discontinuance of the Site.

Governing law
English law governs these terms and conditions and you agree that the English Courts shall have exclusive jurisdiction to determine any matter or dispute in connection with or arising out of this Site and these terms and conditions.

This Site is designed for use in the UK and is not directed to, nor intended for distribution or use by, any person or entity in any jurisdiction or country where the publication or availability of this Site or such distribution or use would be contrary to local law or regulation. If you choose to access information on this Site, it is your responsibility to comply with the applicable local, national or international laws and any use of this Site outside the UK is entirely at your own risk. For guidance relating to your specific situation, please contact your legal adviser.

Where they are permitted by local law to do so clients should execute transactions through a Barclays Capital entity in their home jurisdiction.

Email communications
Please do not send confidential information over the Internet. Information is sent at your own personal risk. Internet communications may not be secure. Barclays Capital recommends that you do not send confidential information to us over the Internet unless it is sent by some secure method of transmission using appropriate encryption technology. Barclays Capital does not accept legal responsibility for any confidential information sent to us without using such security protection.

Third party products and services
Where we provide hypertext links to third party internet web-sites, including those of portfolio companies, such links are not an endorsement by us of these businesses or any products or services in such web-sites. You use such links entirely at your own risk and we accept no responsibility or liability for the content, use or availability of such web-sites. We have not verified the truth or accuracy of any content of such web-sites.

This Site may also contain some material provided by third parties and we accept no responsibility or liability for the accuracy of such material.

No third party is permitted to link any other web-site to this Site without obtaining our prior written consent.

Copyright
The entire content of this Site is subject to copyright with all rights reserved and the information held is for your own personal use only. You may reproduce this information in hard copy solely for your personal use. The information may not otherwise be reproduced, distributed or transmitted to any other person or incorporated in any way into another document or other material. The information and software on this site may not be taken out of context or presented in an unfair, misleading or discriminating manner. You agree not to remove any copyright notice or other notice signifying Barclays Capital or any third party’s intellectual property rights. Except as expressly provided herein, nothing contained on this site shall be deemed or construed to confer any license or right, expressly, by implication, estoppel or otherwise, under any of Barclays intellectual property rights.

Trade marks and Service marks
All trade marks and service marks on this website are used with the permission of their respective owners.