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The Engelhard® Industrial Bullion (EIB) Price is indicative of the price at which BASF Metals LLC or BASF Metals Japan Limited, respectively, would be willing to sell the priced industrial grade metal to a hypothetical customer at a point in time and for delivery at a BASF facility.

The EIB reflects BASF Metals LLC’s or BASF Metals Japan Limited’s view of the market, including but not limited to prevailing prices, current bids and offers and future supply and demand for industrial grade metal, as well as supply and demand factors peculiar to BASF. Therefore, the EIB does not necessarily reflect the price in the market as a whole and is not intended as a benchmark price as that term is understood in Regulation (EU) 2016/1011 or any other applicable law or regulation.

The EIB is the exclusive property of BASF, is illustrative only and is made available without charge for the information and convenience of BASF’s industrial grade metal customers. BASF reserves all rights in the EIB and any use of the EIB without the prior written consent of BASF is prohibited. BASF Metals LLC and BASF Metals Japan Limited do not warrant the accuracy of the EIB and specifically disclaims all liability for any loss incurred by any party arising from or in connection with their reliance on the EIB.

“Engelhard® is a registered trademark of BASF Metals LLC [alternative BASF Group]”