Cambridge Associates Legal Disclaimer

The information and data provided herein (the “data”) is the proprietary property of Cambridge Associates, LLC and/or its affiliates (“Cambridge Associates”) and/or S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices, LLC) and/or any of their respective affiliates (“S&P”). Unless you are in possession of a valid license from S&P for access, use or distribution of the data, you may not, except as expressly permitted by such S&P license: (i) copy, share, sell, distribute or otherwise make the data available to any other party; (ii) use the data contained herein in any other manner, including for any internal or external business purposes; or (iii) use the data as a basis for financial contracts, financial instruments, financial products, indices or as a benchmark under the IOSCO Principles for Financial Benchmarks published by the International Organization of Securities Commissions on 17 July 2013, the European Union Regulation on Benchmarks (“EU BMR”) and/or the retained EU BMR in the United Kingdom, as may be amended from time to time (together the “Regulatory Framework”), except as expressly communicated to you in writing by the provider of this data. Users of this data acknowledge and agree that Cambridge Associates calculates and administers the data but is not authorized as an “Administrator” under the Regulatory Framework, and (iv) S&P is acting in the capacity of distributor of the data and does not have any responsibility for the compilation, composition, changes, calculation or administration the data.

The users of this data acknowledge and agree that no duty of care is owed to them or to any other person by S&P, Cambridge Associates or any of their respective third party data or service providers (“data providers”) and that use of data creates no fiduciary or other relationship in contract or in tort between the users or any other person and S&P, Cambridge Associates or any data providers.

The data is provided on an “as is” basis. Neither S&P, Cambridge Associates nor any data provider (a) makes any warranty, express or implied, as to the availability, accuracy, completeness or timeliness of the data, nor as to the results to be obtained by users of the data, nor as to the quality, performance or fitness for a particular purpose of the data; or (b) shall in any way be liable to any user of the data for any inaccuracies, errors or omissions in the data, regardless of cause, or for any damages (whether direct or indirect) resulting therefrom. Each of S&P, Cambridge Associates and any data provider shall be a third-party beneficiary of these, and any other disclaimers provided in the agreement or within the data and shall have the right to enforce the same.

The opinions, estimates and/or projections in the data do not reflect the opinions of S&P, Cambridge Associates or any data providers. Neither S&P nor Cambridge Associates have any obligation to update, modify or amend the data or to otherwise notify users in the event that any matter stated in the data, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Without limiting the foregoing, S&P, Cambridge Associates and any data provider shall have no liability whatsoever, whether in contract (including under an indemnity), in tort (including negligence), under a warranty, under statute or otherwise, in respect of any loss or damages (including indirect, incidental, special or consequential damages or lost profits) suffered by users of the data, including as a result of or in connection with any opinions, recommendations, forecasts, judgments, or any other conclusions, or any course of action determined, by users of the data or any other person, whether or not based on the data, content, information or materials contained herein and whether or not such losses or damages could have been foreseen or prevented.

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