2

Energy and commodity price indexation and market insights

illuminating the markets

Market ReportingConsulting

Events

Argus is a leading provider of business intelligence reports, price assessments, market data, events and consulting services for the global petroleum, power, natural gas/LNG, LPG/NGL, coal, bioenergy, petrochemical, fertilizer, transportation, emissions and metals industries.

Argus was founded in 1970 and is a privately held UK-registered company, owned by its employees and the family of its founder.

Argus has offices globally, including London, Houston, Washington, New York, Calgary, Portland, Rio de Janeiro, Santiago, Bogota, Singapore, Dubai, Beijing, Tokyo, Sydney, Moscow, Astana and other key centers of the energy industry.

Argus services include:

• Price assessments and historical data• Analysis and news• Business intelligence• Consulting • Conferences

Argus produces a range of highly analytical market reports for the global energy, petrochemical, fertilizer and metals industries, which are used by senior executives to make informed decisions. They contain detailed analysis, supply, demand and other fundamental data, key prices, market trend information and news.

Argus consulting services provide clients with tailored research, data, benchmarking, modeling, strategic analysis and decision-making support. The focus is firmly on markets — their structure, outlook, logistics and economics — where Argus’ understanding, knowledge and insight provide clients with a clear competitive advantage.

Argus conferences match in-house expertise with in-depth market research to create leading events in the global energy, petrochemical, fertilizer and metals industries. Speakers are carefully selected to create topical and thought-provoking agendas that address the most pressing industry issues. Networking opportunities enable attendees to share best practice with their peers and expand their contact lists.

Argus uses market-appropriate methodologies to assess prices in the markets it covers. Argus consults with a range of participants involved in different markets and publishes a methodology for each price report.

Each methodology is reviewed regularly to ensure that it always meets the needs of market participants and is in line with industry practice. Argus seeks to reflect the way markets are traded, rather than impose its own view.

Argus operates a rigorous and transparent controls framework to govern its price reporting activities. This is underpinned by its global compliance policy, which is available on our website, and which includes an ethics policy and a business continuity plan. The company’s Global Compliance Officer oversees this framework, including a rolling program of internal audits to ensure compliance with stated methodologies and policies.

About Argus

Argus Services

Business Intelligence

Consulting

Events

Methodology and Compliance

argusmedia.comTrademark notice:ARGUS, ARGUS MEDIA, the ARGUS logo, DEWITT, FMB, FUNDALYTICS, METAL-PAGES, METALPRICES.COM, JIM JORDAN & ASSOCIATES, JJ&A, ARGUS publication titles and ARGUS index names are trademarks of Argus Media Limited. Visit www.argusmedia.com/trademarks.

Argus price assessments are used extensively by energy companies, governments, banks, regulators and other organizations as benchmarks and references. They are used in physical supply and derivative contracts, for mark-to-market purposes, as an indication of value for tax assessment, for risk management, for strategic analysis and planning, and by governments and tax authorities for independent valuation of energy supplies.

Argus publishes the exclusive Argus Sour Crude IndexTM (ASCITM) price, which is used by Saudi Arabia, Kuwait and Iraq as a benchmark for exports to the US. The Argus ESPO Blend assessment is increasingly used to benchmark sales of the Russian crude oil blend sold to east Asia and the US west coast. Argus LLS, Argus Mars and Argus WTI Midland indices are widely used in hedging, term contracts, mark-to-market and in pricing spot deals for established and emerging crudes in the Americas. The Argus North Sea Dated price includes Brent, Forties, Oseberg and Ekofisk grades and is a widely used price index.

Argus’ US Atlantic coast, Gulf coast and midcontinent petroleum product market assessments are frequently used to index physical term contracts, swaps contracts and internal transfer pricing. The Argus Eurobob Oxy price serves as a benchmark for gasoline transactions in northwest Europe. Argus also provides jet fuel pricing which is used by major commercial airlines in term supply contracts around the world.

Argus provides several key LPG benchmarks. Argus cif ARA large cargo prices for propane and butane provide a benchmark for LPG cargoes. The Argus North Sea IndexTM (ANSITM) price is widely used in spot and term contracts throughout northwest Europe. And the Argus Far East IndexTM (AFEITM) price is the leading spot benchmark for LPG in the markets east of Suez, often used in term and spot contracts.

Argus electricity coverage includes peak and off-peak prices, gas and coal spark spreads for the major US traded bulk power markets, and carbon market analysis for relevant power hubs. Additionally, Argus’ daily assessments of electricity forward curves at 28 major locations in North America serves as a powerful, independent market valuation tool to support investment and trading decisions.

Argus publishes natural gas prices for more than 100 hubs in the US and Canada, as well as Latin American DES prices and daily assessments of seven year forward curves at more than 60 natural gas markets, including Nymex Henry Hub. Argus provides transparency into global LNG markets through an ASEA index for cargoes delivered to Indonesia, Malaysia, Singapore and Thailand, and assessments for northeast Asian forward swaps called ANEA.

Argus assesses traditional spot markets for physical and over-the-counter (OTC) coal, including key benchmarks 12,500 and 12,000 Btu CSX, FOB Puerto Bolivar, FOB Hampton Roads and FOB New Orleans. Argus, with IHS McCloskey, also publishes the world benchmark prices for coal, API 2 and API 4, which are the basis for 90pc of seaborne coal derivatives.

Argus reports the physical spot market for ethanol and renewables in critical centers like New York, Chicago and Northwest Europe. Argus RINs prices for D6 ethanol, D5 advanced biofuel and D4 biodiesel are used in a series of contracts listed on CME Nymex. Argus also posts daily values for D3 cellulosic RINs. Companies with exposure to the European biofuels market look to the Argus FAME 0 and RME indexes to price swaps and physical deals. And in the biomass sector, Argus is the leading international source of woodchip and wood pellet spot and forward prices.

Price assessments, benchmarks and industry coverage

Crude

Petroleum Products

LPG and NGLs

Power

Natural Gas and LNG

Coal

Bioenergy

argusmedia.com

Emissions

Fertilizers

Petrochemicals

Transportation

Metals

Argus provides news and analysis of environmental markets, including legislative and regulatory developments impacting US SO2 and NOx markets, California carbon allowances, renewable energy certificate (RECs) markets, and the Regional Greenhouse Gas Initiative (RGGI). Emissions coverage includes daily and weekly price assessments, California Low-Carbon Fuel Standard (LCFS) credits, deals done and generation economics data. Argus’ SO2 and NOx indices serve as benchmark trading instruments.

Argus FMB publishes price assessments, news, analysis, and market outlooks for the international nitrogen, ammonia, phosphate, potash, sulphur and sulphuric acid markets. Argus also provides in-depth market analysis and pricing information for North American fertilizer markets and raw materials.

Argus offers a full range of global petrochemical services, including market analysis, fundamentals data and price reporting for aromatics, methanol, olefins, butadiene, hydrocarbon resins, MTBE and more. Following the acquisition of DeWitt & Company and Jim Jordan & Associates, Argus also offers petrochemicals forecasting and consulting services. Argus petrochemical price assessments are used around the world in contracts, transfer pricing and trade.

Argus provides assessments for rail rates, railcar leases, and barge and tanker rates along the major and emerging energy transportation arteries worldwide. Argus also offers daily prices for high and low-sulphur marine fuels at more than 60 ports and delivers in-depth infrastructure coverage.

Argus’ essential metal coverage features key international iron ore and coking coal prices, spot iron ore freight prices and netbacks, as well as analysis and news, which helps provide transparency to this evolving market.

argusmedia.com

Argus Direct

Argus Link

Data Feeds

Data Aggregators

Argus delivers information to clients in the way that they want to use it. The delivery methods and platforms integrate seamlessly with clients’ systems and processes, making the data instantly accessible and useful.

This online service allows users to access a fully customizable dashboard of reports, charts, prices, fundamental data, news and market analysis anytime. Argus Direct is available as a web-based interface, a mobile application including iPad and iPhone, and a desktop alert system keeping users up-to-date with market developments as they happen.

This Microsoft Excel plug-in allows users to deeply integrate Argus data into their spreadsheets. The software enables users to navigate prices, perform unit and currency conversion and automatically refresh data.

Increasingly, Argus clients want data and analysis to integrate directly into their information systems. Argus supplies data feeds both through FTP and a well-documented API.

Argus can be accessed through a wide variety third-party partners, including Thomson Reuters, GlobalView, Morningstar and Bloomberg among others.

Delivery methods

Argus Media

Houston2929 Allen Parkway, Suite 700Houston, Texas 77019Tel: +1 713 968 0000Fax: +1 713 622 2991

New York500 Fifth Avenue, Suite 2410New York, NY 10110Tel: +1 646 376 6130Fax: +1 646 376 6143

Washington DC1012 Fourteenth Street NW, Suite 1500Washington, DC 20005Tel: +1 202 775 0240Fax: +1 202 872 8045

Portland1028 SE Water Avenue, Suite 260Portland, OR 97214Tel: +1 503 222 7390Fax: +1 503 242 2968

Calgary144 - 4th Avenue SW, Suite 1600Calgary, AB, Canada T2P 3N4 Tel: +1 403 695 1799

Rio de JaneiroAv. Nossa Senhora de Copacabana 330 salas 1003/1004 Copacabana, Rio de Janeiro, RJ Brazil 22020 - 001Tel: +55 21 2548 0817

SantiagoTel: +56 2 2243 6239

BogotaTel: +57 31 5308 8934

Email: moreinfo@argusmedia.comWeb: www.argusmedia.comTwitter: @argusmedia

Copyright © 2015 Argus Media Ltdilluminating the markets