Permian Global Website Terms and Conditions of Use (“Terms of Use”)

These Terms of Use apply to your use of the internet web site located at www.permianglobal.com (the “Site”). This is a legal agreement (“Agreement”) which governs your use of the Site. You should read this document carefully.

By accessing the Site (or any part of it) you agree that you have read and accept this Agreement including, without limitation, the exclusions and limitations of liability set out in it. If you do not agree to be bound by this Agreement then do not use the Site.

The pages on the Site have been issued by Permian Global Advisers LLP ("Permian Global") which is authorised and regulated by the Financial Conduct Authority ("FCA") (FRN 556927) in respect of its regulated activities of providing investment advisory services to the Permian Global Fund (“the Fund”).

It is your responsibility to be aware of and to observe all applicable laws and regulations regarding your use of the Site for your country of residence.

1. Scope of Agreement

1.1 This Agreement governs your use of the Site which is made available to you as a user by Permian Global, Savoy Hill House, 7-10 Savoy Hill, London WC2R OBU ("us", "we" or "our").

1.2 There may be further notices on the Site itself, which will operate in addition to the terms and conditions of this Agreement. All of these notices will be brought to your attention when you first visit the relevant section of the Site and you will be asked to accept them. If you do not accept them, you may be denied access to the relevant section of the Site.

1.3 The Site will be made available to you free of charge in consideration of your acceptance of the terms of this Agreement.

1.4 Nothing contained on any part of the Site constitutes investment, legal, tax or other advice nor is it to be relied upon in making any investment or other decision about the Fund or otherwise. You should obtain relevant and specific professional advice before making any investment decision. The information and opinions contained on the Site are provided without any express or implied representation or warranty.

2. Website Directed solely at Professional Investors and Institutional Investors

2.1 This site mentions the Fund. The Master Fund is domiciled in Luxembourg and managed by Permian Global Management SARL, a registered Alternative Investment Fund Manager (AIFM) supervised by the CSSF in Luxembourg. PGA LLP does not provide investment management services.

2.2 The law and regulations of the United Kingdom prohibit the promotion of the Fund whether on this Site or otherwise to persons other than to certain professional investors and institutional investors. Such persons include (i) persons who would be classified as a professional client or eligible counterparty under the FCA Handbook of Rules and Guidance and/or (ii) persons who would come within Article 19 (investment professionals) or Article 49 (high net worth companies, trusts and associations) of the Financial Services and Markets Act 2000 (Financial Promotions) Order 2001 and/or (iii) persons to whom this communication could otherwise be lawfully made in the United Kingdom.

2.3 Any recipient of this communication who is not one of the intended recipients as set out above should disregard the communication and may not rely on or take any action in relation to it. Recipients of this communication in jurisdictions outside the United Kingdom should inform themselves about and observe all applicable legal and regulatory requirements whether in the United Kingdom or in their country of residence.

2.4 The information on the Site is not directed at any person who is located in any jurisdiction where it is prohibited to direct such information. If you are a person in a jurisdiction in which such prohibitions apply you must not access this Site.

3. Changes

3.1 We reserve the right to make changes to this Agreement from time to time. Any changes to this Agreement will be posted here.

3.2 Should you continue to use the Site after changes have been posted here, you will be deemed to have accepted those changes.

4. Liability

4.1 Information published on the Site

4.1.1 The information published on the Site is provided for information purposes only and should not be used or relied upon as a basis for making investment or business decisions. We make no representation and give no warranties express, implied or statutory as to the accuracy, completeness or currency, or as to the fitness for any purpose of any of the information provided on the Site and it should not be relied upon as such. We accept no responsibility to update any information on the Site.

4.1.2 No information provided or opinion expressed on the Site is intended to be or should be regarded as an offer, invitation or inducement or as a solicitation of an offer by us or any of our affiliate entities to you or any person to buy, sell or otherwise deal in any particular investment, or otherwise make any investment or divestment or to engage in investment activity, including investment in the Fund. In providing such information we are not issuing, promulgating or providing any financial or other advice to you or any person.

4.1.3 While Permian Global seeks to obtain information from sources it believes to be reliable, Permian Global makes no representation that the information provided or opinions expressed on the Site are accurate reliable or complete. The information and opinions referred to are provided solely for information purposes and are subject to change without notice.

4.2 Links to other web sites

4.2.1 You may be able to link to other web sites which are owned and operated by third parties ("Third Party Web Sites") from the Site by means of hyperlinks. Some of these Third Party Web Sites may be "framed" within the Site while others will open in separate windows. In each case, you should be aware that the Third Party Web Sites are independent of the Web Site and we have no control over them or their content.

4.2.2 Your use of any Third Party Web Site may be subject to specific legal terms and conditions which apply to those web sites. Third Party Web Sites are not subject to the terms of this Agreement or any other notices published on the Site.

4.2.3 The inclusion of any hyperlinks to Third Party Web Sites in the Site does not mean that we approve or endorse those hyperlinks or Third Party Web Sites. We accept no liability for any statements, information, products (including, without limitation, software) or services that are published on or may be accessible from Third Party Web Sites.

4.2.4 Where you leave the Site and visit a Third Party Web Site by means of hyperlinks made available on the Site, and if you provide personal information about yourself on that Third Party Web Site which can identify you, it may be technically possible for the person who operates that Third Party Web Site to deduce that you have visited our Site, due to the nature of the Internet. You hereby accept the possibility that third parties may obtain such information about you when you link to Third Party Web Sites and submit personal information about yourself on those Third Party Web Sites.

4.3 No Warranties

4.3.1 The Site is provided "as is" and we give no warranties or representations in respect of it. Specifically, but without limitation, we do not warrant or represent that:

4.3.1.1 you will be able to use the Site or that it will continue to be made available in its current or any other form at the current domain name or any other domain name;

4.3.1.2 the Site or any software or material of whatsoever nature available on or downloaded from it will be free from viruses or defects, compatible with your equipment or fit for any purpose. It is your responsibility to use suitable anti-virus software on any software or other material that you may download from the Site and to ensure the compatibility of such software or material with your equipment; or

4.3.1.3 opinions and other information on the Site are accurate or complete.

4.3.2 Any warranties or representations which would otherwise be implied by law (including, without limitation, as to satisfactory quality, fitness for purpose or skill and care) are hereby excluded to the fullest extent permitted by law.

4.4 Security

4.4.1 You should be aware that the Internet is not a completely reliable transmission medium. If you choose to send any electronic communications to us by means of the Site, you do so at your own risk and we cannot guarantee that such communications will not be intercepted or changed or that they will reach the intended recipient safely.

4.4.2 Although we use all reasonable endeavours to ensure the Site is secure from attacks (such as "hacking"), we cannot guarantee that any information displayed on the Site has not been changed or modified through malicious attacks.

4.5 Limitation of Liability

4.5.1 It is a condition of our allowing you free access to the Site that neither we nor any of our affiliate entities will be liable to you, whether for negligence, breach of contract, misrepresentation or otherwise, for any direct, indirect or consequential loss or damage suffered by you (including, without limitation, loss of goodwill, business opportunity, anticipated savings) or for loss of profit or loss of data, arising from:

4.5.1.1 your use of the Site or any software or materials provided on or downloaded from the Site;

4.5.1.2 any computer virus transmitted through the Site;

4.5.1.3 your inability to use the Site at any time and any error in the provision of the Site;

4.5.1.4 any delay in or failure of the transmission or the receipt of any instructions or notification sent through the Site;

4.5.1.5 your use of e-mail communications to contact us (including, without limitation, any delay in our receipt or confirmation of such a communication, any interception of or changes to such a communication and any reasonable delay in acting on such a communication);

4.5.1.6 your use of and/or reliance on Third Party Web Sites to which you have gained access by means of hyperlinks published on the Site; or

4.5.1.7 any inaccurate information or opinions published on the Site or your reliance thereon.

4.5.2 Nothing in these or any other terms and conditions governing your use of the Site shall operate to exclude or restrict our liability for (1) fraud; or (2) death or personal injury resulting from our, or our employees', negligence.

5. Website Integrity

5.1 You may not upload, post or transmit to or distribute or otherwise publish through the Site any materials which (i) restrict or inhibit any other user from using the Site, (ii) are threatening, abusive, defamatory, obscene, offensive, or otherwise unlawful, (iii) constitute or encourage conduct that would constitute a criminal offence, give rise to civil liability or otherwise violate law, (iv) infringe the rights of third parties, (v) contain a virus or other harmful component, (vi) contain advertising of any kind, or (vii) constitute or contain false or misleading indications of origin or statements of fact.

6. Privacy Policy

6.1 The Privacy Policy set out elsewhere on the Site shall have effect as though set out in full in this Agreement.

7. Cookies Policy

7.1 The Cookies Policy set out elsewhere on the Site shall have effect as though set out in full in this Agreement.

8. Intellectual Property Rights

8.1 All rights in the material on the Site (including without limitation all photographs and photographic or similar materials) are either owned by us or made available to us under licence or by agreement. The materials on the Site are protected by copyright. All trade marks and devices displayed on the Site are owned by us and/or our licensors, and may be registered in many jurisdictions across the world. Save as provided in this Agreement any use or reproduction of these trade marks and/or devices is prohibited. All rights in the material on any other web sites which you may be able to link to from the Site are owned by third parties.

8.2 You may view the Site and you are welcome to print hard copies of material on it for your personal, non-commercial use. All other copying whether in electronic, hard copy or other format is prohibited and all other rights reserved.

9. Severability

9.1 If any part of this Agreement is lawfully determined by any competent legal authority to be invalid, unlawful or unenforceable to any extent, it shall to that extent be severed from the remainder of this Agreement, which shall continue to be valid and enforceable.

10. Assignment

10.1 You shall not assign or transfer or purport to assign or transfer any of your rights or obligations under this Agreement without our prior written consent. We shall be entitled to assign or transfer all or any of our rights and/or obligations under this Agreement to any of our subsidiaries and related companies or partnerships located anywhere in the world without requiring any further consent from you.

11. No Waiver

11.1 The failure to exercise or delay in exercising a right or remedy provided by this Agreement or by law does not constitute a waiver of the right or remedy or a waiver of other rights or remedies. No single or partial exercise of a right or remedy provided by this Agreement or by law prevents further exercise of the right or remedy or the exercise of another right or remedy.

12. Governing Law

12.1 This Agreement is governed in accordance with the laws of England and Wales. The courts of England and Wales shall have non-exclusive jurisdiction over any dispute arising out of your use of the Site or this Agreement and you hereby submit to the jurisdiction of the courts of England and Wales.

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