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Energy industry data and reports published by Kayrros (“Kayrros Reports”) and made available to paid subscribers and/or other recipients (collectively “Recipients”) are creative works of the mind achieved through algorithmic analysis of publicly available data and the information therein is proprietary to Kayrros and protected by copyright. Any copying, distribution or reproduction without the prior permission of Kayrros is strictly prohibited.

Kayrros Reports are for informational, educational or evaluation purposes only. Any information contained in Kayrros Reports constitutes the opinion or forward-looking statement of individuals and is provided without any representation or warranty of any kind. Neither Kayrros nor
its directors, officers, employees, agents or representatives shall have any responsibility to you or any third party for the accuracy or completeness of any information provided in any Kayrros Report.

Kayrros Reports are not intended to constitute investment advice. Kayrros is not an investment adviser within the meaning of Section 202(a)(11) of the U.S. Investment Advisers Act of 1940, as amended, and is not a commodity trading adviser within the meaning of Section 1(a)(12) of the U.S. Commodity Exchange Act. Kayrros does not provide investment advisory, portfolio management or financial planning services. The analyses, forecasts, metrics, samples, estimated figures, trends, figures, tables, graphs, projections and other forms of data that may be contained in Kayrros Reports do not represent or contain any recommendations to buy or sell any security or any financial products and should not be relied upon as the basis for any transactions in securities.

Kayrros and its owners, affiliates and representatives are not (1) investment advisers, commodity trading advisers, broker-dealers, financial analysts, financial planners, or banks, (2) compensated for providing investment advice, (3) registered or licensed with any regulatory body in any jurisdiction as investment advisers, commodity trading advisers, financial planners, broker-dealers, or in any other capacity (including, without limitation, the U.S. Securities & Exchange Commission (the “SEC”), the U.S. Commodity.

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Kayrros Reports are based only upon its algorithmic analysis of publicly available data and do not use or rely upon any material non-public information (“MNPI”). The insights included in Kayrros Reports do not constitute MNPI or inside information and Kayrros is not an insider. Kayrros Reports (1) may contain opinions based on third party sources that are not independently verified for accuracy or completeness, (2) may contain forward- looking statements, which are identified by words such as “expects,” “anticipates,” “believes,” or “estimates,” and similar expressions, and (3) are current as of the date of publication but may contain information or statements that are subject to change without notice. Kayrros has no obligation to, and will not, update any information contained in Kayrros Reports. Actual outcomes could differ materially from those anticipated in Kayrros Reports. As a result, the use of Kayrros Reports is at Recipients’ own risk.

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