Common use of PRICE BASIS Clause in Contracts

PRICE BASIS. 7.1 The tariffs contained in Annexure C shall remain fixed until xxxxxx except for fuel price adjustments as contained in clause 7.3. The tariffs shall be reviewed and negotiated in good faith by the Parties on or before xxx and annually thereafter. The negotiated tariffs will be applicable with effect from xxx and annually thereafter. If the Parties fail to reach agreement on or before the xxx then the following formula shall be used after the first 1-year term of the Agreement to determine the tariff adjustment. = PO (20 + 80BM) 100 BMO Where: P = Revised tariff PO = Original tender tariff 20 = The fixed portion of the tariff, which will not be subject to adjustment BM = The average of SEIFSA Index for Road Freight Costs (Table L2), for the latest available months since xxxxx prior to the date of the tariff adjustment. BMO = The SEIFSA Index for Road Freight Costs (Table L2) for the month of tender, i.e. xxxxx If the Parties fail to reach agreement on or before the xxxxx of the second year of the term, then the following formula shall be used after the 1-year of the term of the Agreement to determine the tariff adjustment P = PO (20 + 80BM) 100 BMO Where: P = Revised tariff PO = Original tender tariff 20 = The fixed portion of the tariff, which will not be subject to adjustment BM = The average of SEIFSA Index for road freight costs (Table L2), for the latest available 12-month period prior to the date of the tariff adjustment BMO = The average of SEIFSA Index for road freight costs (Table L2), for the corresponding 12-month period prior to the period as referred to in BM. 7.2 In the event that the cumulative change in the price of diesel amounts to 10% or more since the previous tariff adjustment, it will be the responsibility of the Contractor to apply for the tariff adjustment and ArcelorMittal shall on receipt of a request adjust the tariff, provided the application for the adjustment of the tariff is received and proved to ArcelorMittal's satisfaction within 14 (fourteen) days from the date of the official adjustment of the diesel price by the governmental authority concerned. The adjusted tariff will be effective from the 1st calendar day of the month following the month in which the diesel price adjustment occurred. If the application is received and proved after the 14 (fourteen) days, the adjusted tariff will be effective from the 1st calendar day of the second month following the month in which the diesel price change occurred. The portion of the tariff that will be subject to diesel price adjustments is 28%. 7.3 The base date for determination of the diesel price shall be April 2014 (R13.3047 per litre) and the applicable tariff for Gauteng as reflected on the South African Petroleum Industry Association’s website (xxxx://xxx.xxxxx.xx.za/stats/diesel/htm), shall apply to all transport tariff adjustments due to diesel price changes. 7.4 If there is a cumulative decrease of 10% or more in the price of diesel since the previous tariff adjustment due to the change in the price of diesel, ArcelorMittal shall be entitled in its sole discretion to adjust the tariffs accordingly within 14 (fourteen) days from the date of the official adjustment of that diesel price by the governmental authority concerned. The adjusted tariffs will be effective from the 1st calendar day of the month following the month in which the diesel price adjustment occurred. 7.5 The tariffs contained in this Agreement will be adjusted if any new statutory tariffs are introduced and/or if any existing statutory tariffs fall away during the term of this Agreement. 7.6 All requests for tariff adjustments shall be submitted to the Logistics Procurement Specialist, Group Logistics, ArcelorMittal. The current designated official is Xxxxxxxx Xxxxxxx and the request can be e-mailed to xxxxxxxx.xxxxxxx@xxxxxxxxxxxxx.xxx or can be faxed to fax number………… 7.7 If there is a decrease in the price of diesel/petrol, compared to the base price of diesel/petrol, ArcelorMittal shall be entitled to adjust the tariffs accordingly within 14 (fourteen) days from the date of the official adjustment of that diesel/petrol price by the governmental authority concerned. The adjusted tariffs will be effective from the 1st calendar day of the month following the month in which the diesel/petrol price adjustment occurred.

PRICE BASIS. 7.1 The tariffs contained in Annexure C shall remain fixed until xxxxxx 30 June 2014 except for fuel price adjustments as contained in clause 7.3. The 7.4. 7.2 Should the Agreement be extended for a period longer than one year, the tariffs shall be reviewed and negotiated in good faith by the Parties on or before xxx the one-year anniversary of the Agreement and annually thereafter. The negotiated tariffs will be applicable with effect from xxx the date of anniversary of the Agreement and annually thereafter. If the Parties fail to reach agreement on or before the xxx agreement, then the following formula shall be used after the first 1-year term of the Agreement to determine the tariff adjustment. P = PO (20 + 80BM) 100 BMO Where: P = Revised tariff PO = Original tender tariff 20 = The fixed portion of the tariff, which will not be subject to adjustment BM = The average of the SEIFSA Index for Road Freight Costs road freight costs (Table L2), ) for the latest available months that lapsed since xxxxx prior to the date month of the tariff adjustment. tender (BMO) BMO = The SEIFSA Index for Road Freight Costs road freight costs (Table L2) for the month of tender, i.e. xxxxx If March 2014 7.3 Statutory movements in the Parties fail to reach agreement on or before the xxxxx price of the second year of the term, then the following formula diesel shall be used after the 1-year of the term of the Agreement to determine the tariff adjustment P = PO (20 + 80BM) 100 BMO Where: P = Revised tariff PO = Original tender tariff 20 = The fixed portion of the tariff, which will not be subject to adjustment BM = The average of SEIFSA Index for road freight costs (Table L2), for the latest available 12-month period prior to the date of the tariff adjustment BMO = The average of SEIFSA Index for road freight costs (Table L2), for the corresponding 12-month period prior to the period as referred to in BM. 7.2 reviewed monthly. In the event that the cumulative change in the price of diesel amounts to an increase of 10% or more since the previous tariff adjustment, it will be the responsibility of the Contractor to apply for the tariff adjustment and ArcelorMittal shall on receipt of a request adjust the tariff, provided the application for the adjustment of the tariff is received and proved to ArcelorMittal's satisfaction within 14 (fourteen) days from the date of the official adjustment of the diesel price by the governmental authority concerned. The adjusted tariff will be effective from the 1st calendar day of the month following the month in which the diesel price adjustment occurred. If the application is received and proved after the 14 (fourteen) days, the adjusted tariff will be effective from the 1st calendar day of the second month following the month in which the diesel price change occurred. The portion of the tariff that will be subject to diesel price adjustments is 2838%. 7.3 7.4 The base date for determination of the diesel price shall be 01 April 2014 (R13.3047 per litre) and the applicable tariff for Gauteng as reflected on the South African Petroleum Industry Association’s website (xxxx://xxx.xxxxx.xx.za/stats/diesel/htm), shall apply to all transport tariff adjustments due to diesel price changes. 7.4 7.5 If there is a cumulative decrease of 10% or more in the price of diesel since the previous tariff adjustment due to the change in the price of diesel, ArcelorMittal shall be entitled in its sole discretion to adjust the tariffs accordingly within 14 (fourteen) days from the date of the official adjustment of that diesel price by the governmental authority concerned. The adjusted tariffs will be effective from the 1st calendar day of the month following the month in which the diesel price adjustment occurred. 7.5 The tariffs contained in this Agreement will be adjusted if any new statutory tariffs are introduced and/or if any existing statutory tariffs fall away during the term of this Agreement. 7.6 All requests for tariff adjustments shall be submitted to the Logistics Senior Procurement Specialist, Group Logistics, ArcelorMittal. The current designated official is Xxxxxxxx Xxxxxxx Mr Tsirello Mokoena and the request can be e-mailed to xxxxxxxx.xxxxxxx@xxxxxxxxxxxxx.xxx Xxxxxxxx.xxxxxxx@xxxxxxxxxxxxx.xxx or can be faxed to fax number………… 7.7 If there is a decrease in the price of diesel/petrol, compared to the base price of diesel/petrol, ArcelorMittal shall be entitled to adjust the tariffs accordingly within 14 (fourteen) days from the date of the official adjustment of that diesel/petrol price by the governmental authority concerned. The adjusted tariffs will be effective from the 1st calendar day of the month following the month in which the diesel/petrol price adjustment occurrednumber 000 000 0000.

PRICE BASIS. 7.1 The tariffs contained in Annexure C clause 6 shall remain fixed until xxxxxx for a 12 (twelve) month period except for fuel price adjustments as contained in clause 7.3. . 7.2 The tariffs shall be reviewed and negotiated in good faith by the Parties on or before xxx and annually thereafter. The negotiated tariffs will be applicable with effect from xxx and annually thereafter. If the Parties fail to reach agreement on or before the xxx within a thirty (30) day period then the following formula shall be used after the first 1-year term of the Agreement to determine the tariff a price adjustment. P = PO (20 15 + 80BM85 BM) 100 BMO Where: P = Revised tariff PO = Original tender tariff 20 15 = The fixed portion of the tariff, which will not be subject to adjustment adjustment. BM = The average of SEIFSA Index for Road Freight Costs (Table L2), for the latest available months since xxxxx prior to the date of the tariff adjustment. BMO = The SEIFSA Index for Road Freight Costs (Table L2) for the month of tender, i.e. xxxxx If the Parties fail to reach agreement on or before the xxxxx of the second year of the term, then the following formula shall be used after the 1-year of the term of the Agreement to determine the tariff adjustment P = PO (20 + 80BM) 100 BMO Where: P = Revised tariff PO = Original tender tariff 20 = The fixed portion of the tariff, which will not be subject to adjustment BM = The average of SEIFSA Index Final Seifsa index for road freight costs (Table L2L1), for the latest available 12-month period two months prior to the date month of the tariff adjustment increase. BMO = The average of SEIFSA Index Final Seifsa index for road freight costs (Table L2L1), for the corresponding 12-month period prior to the period as referred to in BM. 7.2 7.3 In the event that the cumulative change in the case of diesel/petrol price adjustments of diesel amounts to more than 10% or more since the previous tariff adjustment%, it ArcelorMittal will be the responsibility of the Contractor to apply for the tariff adjustment and ArcelorMittal shall on receipt of a request from the Contractor, adjust the tariff, provided the application for the adjustment of the tariff is received and proved to ArcelorMittal's satisfaction within 14 (fourteen) days from the date of the official adjustment of the diesel diesel/petrol price by the governmental authority concerned. The adjusted tariff will be effective from the 1st calendar day of the month following the month in which the diesel diesel/petrol price adjustment occurred. If the application is received and proved accepted after the 14 (fourteen) days, the adjusted tariff will be effective from the 1st calendar day of the second month following the month in which the diesel diesel/petrol price change occurred. The portion of the tariff that will be subject to diesel diesel/petrol price adjustments is 28xxxxxx %. 7.3 7.4 The base date for determination of the diesel price diesel/petrol price, shall be April 2014 October 2013 (R13.3047 R12.6005 per litre) and the applicable tariff for Gauteng zone Mbendi Gauteng, (also same as reflected on published in the South African Petroleum Industry Association’s website (xxxx://xxx.xxxxx.xx.za/stats/diesel/htmBusiness Day), shall apply to all transport tariff adjustments due to diesel diesel/petrol price changes. 7.4 If there is a cumulative decrease of 10% or more in the price of diesel since the previous tariff adjustment due to the change in the price of diesel, ArcelorMittal shall be entitled in its sole discretion to adjust the tariffs accordingly within 14 (fourteen) days from the date of the official adjustment of that diesel price by the governmental authority concerned. The adjusted tariffs will be effective from the 1st calendar day of the month following the month in which the diesel price adjustment occurredadjustments. 7.5 The tariffs contained in this Agreement will be adjusted if any new statutory tariffs are introduced and/or if any existing statutory tariffs fall away during the term of this Agreement. 7.6 All requests for tariff adjustments shall be submitted to the Logistics Procurement Specialist, Group Logistics, ArcelorMittal. The current designated official is Xxxxxxxx Xxx Xxxxxxx and the request can be e-e mailed to xxxxxxxx.xxxxxxx@xxxxxxxxxxxxx.xxx Xxx.Xxxxxxx@xxxxxxxxxxxxx.xxx or can be faxed to fax number…………number 000 000 0000. 7.7 7.6 If there is a decrease in the price of diesel/petrol, compared to the base price of diesel/petrol, ArcelorMittal shall be entitled to adjust the tariffs accordingly within 14 (fourteen) days from the date of the official adjustment of that diesel/petrol price by the governmental authority concerned. The adjusted tariffs will be effective from the 1st calendar day of the month following the month in which the diesel/petrol price adjustment occurred.

PRICE BASIS. 7.1 The tariffs contained in Annexure C shall agreed up on remain fixed until xxxxxx for a 12 (twelve) month period except for fuel diesel/petrol price adjustments as contained in clause 7.3. . 7.2 The tariffs shall be reviewed and negotiated in good faith by the Parties on or before xxx and annually thereafter. The negotiated tariffs will be applicable with effect from xxx and annually thereafter. If the Parties fail to reach agreement on or before the xxx within a 30 (thirty) days period then the following formula shall be used after the first 1-year term of the Agreement to determine the tariff a price adjustment. NP = PO TP (20 + 80BM80 L1) 100 BMO L1O Where: P NP = Revised tariff PO TP = Original tender tariff 20 = The fixed portion of the tariff, which tariff that will not be subject to adjustment BM adjustment. L1 = The average of the SEIFSA Index for Road Freight Costs (Transport, Table L2), for the latest available months since xxxxx prior to the date of the tariff adjustment. BMO = The SEIFSA Index for Road Freight Costs (Table L2) for the month of tender, i.e. xxxxx If the Parties fail to reach agreement on or before the xxxxx of the second year of the term, then the following formula shall be used after the 1-year of the term of the Agreement to determine the tariff adjustment P = PO (20 + 80BM) 100 BMO Where: P = Revised tariff PO = Original tender tariff 20 = The fixed portion of the tariff, which will not be subject to adjustment BM = The average of SEIFSA Index for road freight costs (Table L2)L1, for the latest available 12-month period prior to the date of the tariff adjustment BMO increase. L1O = The average of the SEIFSA Index for road freight costs (Road Transport Table L2), L1 for the corresponding 12-month period prior to the period as referred to in BML1. 7.2 7.3 In the event that the cumulative change in the case of diesel/petrol price adjustments of diesel amounts to 10% or more since the previous tariff adjustmentthan 5%, it ArcelorMittal will be the responsibility of the Contractor to apply for the tariff adjustment and ArcelorMittal shall on receipt of a request from the Contractor, adjust the tariff, provided the application for the adjustment of the tariff is received and proved to ArcelorMittal's ’ s satisfaction within 14 (fourteen) days from the date of the official adjustment of the diesel diesel/petrol price by the governmental authority concerned. The adjusted tariff will be effective from the 1st calendar day of the month following the month in which the diesel diesel/petrol price adjustment occurred. If the application is received and proved accepted after the 14 (fourteen) days, the adjusted tariff will be effective from the 1st calendar day of the second month following the month in which the diesel diesel/petrol price change occurred. The portion of the tariff that will be subject to diesel diesel/petrol price adjustments is 28percentage agreed up on %. 7.3 7.4 The base date for determination of the diesel price shall be April 2014 August 2013 (R13.3047 R R12.4823 per litre) and the applicable tariff for Gauteng as reflected on the South African Petroleum Industry Association’s Associations’ website (xxxx://xxx.xxxxx.xx.za/stats/diesel/htmxxxx://xxx.xxxxx.xx.za/stats/diesel.htm), shall apply to all transport tariff diesel/petrol price adjustments due to diesel diesel/petrol price changes. 7.4 If there is a cumulative decrease of 10% or more in the price of diesel since the previous tariff adjustment due to the change in the price of diesel, ArcelorMittal shall be entitled in its sole discretion to adjust the tariffs accordingly within 14 (fourteen) days from the date of the official adjustment of that diesel price by the governmental authority concerned. The adjusted tariffs will be effective from the 1st calendar day of the month following the month in which the diesel price adjustment occurred. 7.5 The tariffs contained in this Agreement will be adjusted if any new statutory tariffs are introduced and/or if any existing statutory tariffs fall away during the term of this Agreement. 7.6 All requests for tariff adjustments shall be submitted to the Logistics Procurement Specialist, Group Logistics, ArcelorMittal. The current designated official is Xxxxxxxx Xxxxxxx Livhuwani Mugwagwa and the request can be e-mailed to xxxxxxxx.xxxxxxx@xxxxxxxxxxxxx.xxx Xxxxxxxxx.Xxxxxxxx@xxxxxxxxxxxxx.xxx or can be faxed to fax number…………number 000 000 0000. 7.7 7.6 If there is a decrease in the price of diesel/petrol, compared to the base price of diesel/petrol, ArcelorMittal shall be entitled to adjust the tariffs accordingly within 14 (fourteen) days from the date of the official adjustment of that diesel/petrol price by the governmental authority concerned. The adjusted tariffs will be effective from the 1st calendar day of the month following the month in which the diesel/petrol price adjustment occurred.

PRICE BASIS. 7.1 The tariffs contained tariff as reflected in Annexure C clause 6.1 shall remain fixed until xxxxxx for a 10 (ten) month period, except for fuel diesel price adjustments as contained in clause 7.3. The tariffs . 7.2 Should the Agreement be extended, then the tariff shall be reviewed and negotiated in good faith by the Parties on or before xxx and annually thereafterafter the first one-year term of the Agreement. The negotiated tariffs tariff will be applicable with effect from xxx 1 November 2015 and annually thereafter. If the Parties parties fail to reach agreement on or before the xxx then 1 November 2015, the following formula shall be used after the first 1-year term of the Agreement to determine the tariff adjustment. P = PO (20 + 80BM) 100 BMO Where: P = Revised tariff PO = Original tender tariff 20 = The fixed portion of the tariff, which will not be subject to adjustment BM = The average of SEIFSA Index for Road Freight Costs (Table L2), for the latest available months since xxxxx October 2014 prior to the date of the tariff adjustment. BMO = The SEIFSA Index for Road Freight Costs (Table L2) for the month of tender, i.e. xxxxx October 2014 If the Parties parties fail to reach agreement on or before the xxxxx of the second year of the term1 November 2016, then the following formula shall be used after the second 1-year of the term of the Agreement to determine the tariff adjustment adjustment. P = PO (20 + 80BM) 100 BMO Where: P = Revised tariff PO = Original tender tariff 20 = The fixed portion of the tariff, which will not be subject to adjustment BM = The average of SEIFSA Index for road freight costs (Table L2), for the latest available 12-month period prior to the date of the tariff adjustment BMO = The average of SEIFSA Index for road freight costs (Table L2), for the corresponding 12-month period prior as reflected for BM for the previous year. 7.3 In the case of diesel price adjustment of more than 10%, compared to the period as referred previous diesel price that applied to in BM. 7.2 In the event that the cumulative change in the price of diesel amounts to 10% or more since the previous tariff adjustmenttariff, it ArcelorMittal will be the responsibility of the Contractor to apply for the tariff adjustment and ArcelorMittal shall on receipt of a request from the Contractor, adjust the tariff, provided the application for the adjustment of the tariff is received and proved to ArcelorMittal's ’s satisfaction within 14 (fourteen) days from the date of the official adjustment of the diesel price by the governmental authority concerned. The adjusted tariff will be effective from the 1st calendar day of the month following the month in which the diesel price adjustment occurred. If the application is received and proved accepted after the 14 (fourteen) days, the adjusted tariff will be effective from the 1st calendar day of the second month following the month in which the diesel price change occurred. The portion of the tariff that will be subject to diesel price adjustments is 28%. 7.3 7.4 The base date for determination of the diesel price shall be April October 2014 (R13.3047 per litreR12.4639/liter for 0.05% sulphur) and the applicable tariff for Gauteng as reflected on the South African Petroleum Industry Association’s Associations’ website (xxxx://xxx.xxxxx.xx.za/stats/diesel/htmxxxx://xxx.xxxxx.xx.za/stats/diesel.htm), shall apply to all transport tariff diesel price adjustments due to diesel price changes. 7.4 If there 7.5 All requests for tariff adjustments shall be submitted to the Senior Procurement Specialist, Group Logistics, ArcelorMittal. The current designated official is Ria Vermaak and the request can be e-mailed to xxx.xxxxxxx@xxxxxxxxxxxxx.xxx. 7.6 In the case of a cumulative decrease of more than 10% or more in the price of diesel since the previous tariff adjustment due to the change in the price of diesel, compared to the previous diesel price that applied to the tariff, ArcelorMittal, ArcelorMittal shall be entitled in its sole discretion to adjust the tariffs tariff accordingly within 14 (fourteen) days from the date of the official adjustment of that diesel price by the governmental authority concerned. The adjusted tariffs tariff will be effective from the 1st calendar day of the month following the month in which the diesel price adjustment occurred. 7.5 The tariffs contained in this Agreement will be adjusted if any new statutory tariffs are introduced and/or if any existing statutory tariffs fall away during the term of this Agreement. 7.6 All requests for tariff adjustments shall be submitted to the Logistics Procurement Specialist, Group Logistics, ArcelorMittal. The current designated official is Xxxxxxxx Xxxxxxx and the request can be e-mailed to xxxxxxxx.xxxxxxx@xxxxxxxxxxxxx.xxx or can be faxed to fax number………… 7.7 If there is a decrease in the price of diesel/petrol, compared to the base price of diesel/petrol, ArcelorMittal shall be entitled to adjust the tariffs accordingly within 14 (fourteen) days from the date of the official adjustment of that diesel/petrol price by the governmental authority concerned. The adjusted tariffs will be effective from the 1st calendar day of the month following the month in which the diesel/petrol price adjustment occurred.

PRICE BASIS. 7.1 The tariffs contained reflected in Annexure C B shall remain fixed until xxxxxx for a 12 (twelve) month period except for fuel diesel/petrol price adjustments as contained in clause 7.3. The . 7.2 Should the Agreement be extended for a period longer than one year, the tariffs shall be reviewed and negotiated in good faith by the Parties on or before xxx the one-year anniversary of the Agreement and annually thereafter. The negotiated tariffs will be applicable with effect from xxx the date of anniversary of the Agreement and annually thereafter. If the Parties fail to reach agreement on or before the xxx agreement, then the following formula shall be used after the first 1-year term of the Agreement to determine the tariff adjustment. NP = PO TP (20 + 80BM80 L1) 100 BMO L1O Where: P NP = Revised tariff PO TP = Original tender tariff 20 = The fixed portion of the tariff, which tariff that will not be subject to adjustment BM adjustment. L1 = The average of the SEIFSA Index for Road Freight Costs (Transport, Table L2), for the latest available months since xxxxx prior to the date of the tariff adjustment. BMO = The SEIFSA Index for Road Freight Costs (Table L2) for the month of tender, i.e. xxxxx If the Parties fail to reach agreement on or before the xxxxx of the second year of the term, then the following formula shall be used after the 1-year of the term of the Agreement to determine the tariff adjustment P = PO (20 + 80BM) 100 BMO Where: P = Revised tariff PO = Original tender tariff 20 = The fixed portion of the tariff, which will not be subject to adjustment BM = The average of SEIFSA Index for road freight costs (Table L2)L1, for the latest available 12-month period prior to the date of the tariff adjustment BMO increase. L1O = The average of the SEIFSA Index for road freight costs (Road Transport Table L2), L1 for the corresponding 12-month period prior to the period as referred to in BML1. 7.2 7.3 In the event that the cumulative change in the case of diesel/petrol price adjustments of diesel amounts to more than 10% or more since the previous tariff adjustment%, it ArcelorMittal will be the responsibility of the Contractor to apply for the tariff adjustment and ArcelorMittal shall on receipt of a request from the Contractor, adjust the tariff, provided the application for the adjustment of the tariff is received and proved to ArcelorMittal's satisfaction within 14 (fourteen) days from the date of the official adjustment of the diesel diesel/petrol price by the governmental authority concerned. The adjusted tariff will be effective from the 1st calendar day of the month following the month in which the diesel diesel/petrol price adjustment occurred. If the application is received and proved accepted after the 14 (fourteen) days, the adjusted tariff will be effective from the 1st calendar day of the second month following the month in which the diesel diesel/petrol price change occurred. The portion of the tariff that will be subject to diesel diesel/petrol price adjustments is 28%.xxxx% 7.3 7.4 The base date for determination of the diesel price shall be April 2014 September (R13.3047 R12.6205 per litre) and the applicable tariff for Gauteng as reflected on the South African Petroleum Industry Association’s Associations’ website (xxxx://xxx.xxxxx.xx.za/stats/diesel/htmxxxx://xxx.xxxxx.xx.za/stats/diesel.htm), shall apply to all transport tariff diesel/petrol price adjustments due to diesel diesel/petrol price changes. 7.4 If there is a cumulative decrease of 10% or more in the price of diesel since the previous tariff adjustment due to the change in the price of diesel, ArcelorMittal shall be entitled in its sole discretion to adjust the tariffs accordingly within 14 (fourteen) days from the date of the official adjustment of that diesel price by the governmental authority concerned. The adjusted tariffs will be effective from the 1st calendar day of the month following the month in which the diesel price adjustment occurred. 7.5 The tariffs contained in this Agreement will be adjusted if any new statutory tariffs are introduced and/or if any existing statutory tariffs fall away during the term of this Agreement. 7.6 All requests for tariff adjustments shall be submitted to the Logistics Procurement Specialist, Group Logistics, ArcelorMittal. The current designated official is Xxxxxxxx Xxxxxxx Livhuwane Mugwagwa and the request can be e-mailed to xxxxxxxx.xxxxxxx@xxxxxxxxxxxxx.xxx Xxxxxxxxx.Xxxxxxxx@xxxxxxxxxxxxx.xxx or can be faxed to fax number…………number 000 000 0000 7.7 7.6 If there is a decrease in the price of diesel/petrol, compared to the base price of diesel/petrol, ArcelorMittal shall be entitled to adjust the tariffs accordingly within 14 (fourteen) days from the date of the official adjustment of that diesel/petrol price by the governmental authority concerned. The adjusted tariffs will be effective from the 1st calendar day of the month following the month in which the diesel/petrol price adjustment occurred.

PRICE BASIS. 7.1 The tariffs contained in Annexure C shall agreed up on remain fixed until xxxxxx for a 12 (twelve) month period except for fuel diesel/petrol price adjustments as contained in clause 7.3. . 7.2 The tariffs shall be reviewed and negotiated in good faith by the Parties on or before xxx and annually thereafter. The negotiated tariffs will be applicable with effect from xxx and annually thereafter. If the Parties fail to reach agreement on or before the xxx within a 30 (thirty) days period then the following formula shall be used after the first 1-year term of the Agreement to determine the tariff a price adjustment. NP = PO TP (20 + 80BM80 L1) 100 BMO Where: P L1O NP = Revised tariff PO TP = Original tender tariff 20 = The fixed portion of the tariff, which tariff that will not be subject to adjustment BM adjustment. L1 = The average of the SEIFSA Index for Road Freight Costs (Transport, Table L2), for the latest available months since xxxxx prior to the date of the tariff adjustment. BMO = The SEIFSA Index for Road Freight Costs (Table L2) for the month of tender, i.e. xxxxx If the Parties fail to reach agreement on or before the xxxxx of the second year of the term, then the following formula shall be used after the 1-year of the term of the Agreement to determine the tariff adjustment P = PO (20 + 80BM) 100 BMO Where: P = Revised tariff PO = Original tender tariff 20 = The fixed portion of the tariff, which will not be subject to adjustment BM = The average of SEIFSA Index for road freight costs (Table L2)L1, for the latest available 12-month period prior to the date of the tariff adjustment BMO increase. L1O = The average of the SEIFSA Index for road freight costs (Road Transport Table L2), L1 for the corresponding 12-month period prior to the period as referred to in BML1. 7.2 7.3 In the event that the cumulative change in the case of diesel/petrol price adjustments of diesel amounts to more than 10% or more since the previous tariff adjustment%, it ArcelorMittal will be the responsibility of the Contractor to apply for the tariff adjustment and ArcelorMittal shall on receipt of a request from the Contractor, adjust the tariff, provided the application for the adjustment of the tariff is received and proved to ArcelorMittal's ’ s satisfaction within 14 (fourteen) days from the date of the official adjustment of the diesel diesel/petrol price by the governmental authority concerned. The adjusted tariff will be effective from the 1st calendar day of the month following the month in which the diesel diesel/petrol price adjustment occurred. If the application is received and proved accepted after the 14 (fourteen) days, the adjusted tariff will be effective from the 1st calendar day of the second month following the month in which the diesel diesel/petrol price change occurred. The portion of the tariff that will be subject to diesel price adjustments is 28%. 7.3 7.4 The base date for determination of the diesel price shall be April February 2014 (R13.3047 R R13.1135 per litrelitre for 0.05% sulphur) and the applicable tariff for Gauteng as reflected on the South African Petroleum Industry Association’s Associations’ website (xxxx://xxx.xxxxx.xx.za/stats/diesel/htmxxxx://xxx.xxxxx.xx.za/stats/diesel.htm), shall apply to all transport tariff diesel/petrol price adjustments due to diesel diesel/petrol price changes. 7.4 If there is a cumulative decrease of 10% or more in the price of diesel since the previous tariff adjustment due to the change in the price of diesel, ArcelorMittal shall be entitled in its sole discretion to adjust the tariffs accordingly within 14 (fourteen) days from the date of the official adjustment of that diesel price by the governmental authority concerned. The adjusted tariffs will be effective from the 1st calendar day of the month following the month in which the diesel price adjustment occurred. 7.5 The tariffs contained in this Agreement will be adjusted if any new statutory tariffs are introduced and/or if any existing statutory tariffs fall away during the term of this Agreement. 7.6 All requests for tariff adjustments shall be submitted to the Logistics Senior Procurement Specialist, Group Logistics, ArcelorMittal. The current designated official is Xxxxxxxx Xxxxxxx Rudzani Tshifhumulo and the request can be e-mailed to xxxxxxxx.xxxxxxx@xxxxxxxxxxxxx.xxx or can be faxed to fax number…………Rudzani.Tshifhumulo@arcelormittal 7.7 7.6 If there is a decrease in the price of diesel/petrol, compared to the base price of diesel/petrol, ArcelorMittal shall be entitled to adjust the tariffs accordingly within 14 (fourteen) days from the date of the official adjustment of that diesel/petrol price by the governmental authority concerned. The adjusted tariffs will be effective from the 1st calendar day of the month following the month in which the diesel/petrol price adjustment occurred.

PRICE BASIS. 7.1 The tariffs contained in Annexure C shall remain fixed until xxxxxx except for fuel price adjustments as contained in clause 7.3. The tariffs shall be reviewed and negotiated in good faith by the Parties on or before xxx and annually thereafter. The negotiated tariffs will be applicable with effect from xxx and annually thereafter. If the Parties fail to reach agreement on or before the xxx then the following formula shall be used after the first 1-year term of the Agreement to determine the tariff adjustment. = PO (20 + 80BM) 100 BMO Where: P = Revised tariff PO = Original tender tariff 20 = The fixed portion of the tariff, which will not be subject to adjustment BM = The average of SEIFSA Index for Road Freight Costs (Table L2), for the latest available months since xxxxx prior to the date of the tariff adjustment. BMO = The SEIFSA Index for Road Freight Costs (Table L2) for the month of tender, i.e. xxxxx If the Parties fail to reach agreement on or before the xxxxx of the second year of the term, then the following formula shall be used after the 1-year of the term of the Agreement to determine the tariff adjustment P = PO (20 + 80BM) 100 BMO Where: P = Revised tariff PO = Original tender tariff 20 = The fixed portion of the tariff, which will not be subject to adjustment BM = The average of SEIFSA Index for road freight costs (Table L2), for the latest available 12-month period prior to the date of the tariff adjustment BMO = The average of SEIFSA Index for road freight costs (Table L2), for the corresponding 12-month period prior to the period as referred to in BM. 7.2 In the event that the cumulative change in the price of diesel amounts to 10% or more since the previous tariff adjustment, it will be the responsibility of the Contractor to apply for the tariff adjustment and ArcelorMittal shall on receipt of a request adjust the tariff, provided the application for the adjustment of the tariff is received and proved to ArcelorMittal's satisfaction within 14 (fourteen) days from the date of the official adjustment of the diesel price by the governmental authority concerned. The adjusted tariff will be effective from the 1st calendar day of the month following the month in which the diesel price adjustment occurred. If the application is received and proved after the 14 (fourteen) days, the adjusted tariff will be effective from the 1st calendar day of the second month following the month in which the diesel price change occurred. The portion of the tariff that will be subject to diesel price adjustments is 28%. 7.3 The base date for determination of the diesel price shall be April June 2014 (R13.3047 R12.76 per litre) and the applicable tariff for Gauteng as reflected on the South African Petroleum Industry Association’s website (xxxx://xxx.xxxxx.xx.za/stats/diesel/htm), shall apply to all transport tariff adjustments due to diesel price changes. 7.4 If there is a cumulative decrease of 10% or more in the price of diesel since the previous tariff adjustment due to the change in the price of diesel, ArcelorMittal shall be entitled in its sole discretion to adjust the tariffs accordingly within 14 (fourteen) days from the date of the official adjustment of that diesel price by the governmental authority concerned. The adjusted tariffs will be effective from the 1st calendar day of the month following the month in which the diesel price adjustment occurred. 7.5 The tariffs contained in this Agreement will be adjusted if any new statutory tariffs are introduced and/or if any existing statutory tariffs fall away during the term of this Agreement. 7.6 All requests for tariff adjustments shall be submitted to the Logistics Procurement Specialist, Group Logistics, ArcelorMittal. The current designated official is Xxxxxxxx Xxxxxxx Tsirello Mokoena and the request can be e-mailed to xxxxxxxx.xxxxxxx@xxxxxxxxxxxxx.xxx or can be faxed to fax number………… 7.7 If there is a decrease in the price of diesel/petrol, compared to the base price of diesel/petrol, ArcelorMittal shall be entitled to adjust the tariffs accordingly within 14 (fourteen) days from the date of the official adjustment of that diesel/petrol price by the governmental authority concerned. The adjusted tariffs will be effective from the 1st calendar day of the month following the month in which the diesel/petrol price adjustment occurred.

PRICE BASIS. 7.1 The tariffs contained in Annexure C agreed upon shall remain fixed until xxxxxx for a 12 (twelve) month period except for fuel diesel/petrol price adjustments as contained in clause 7.3. . 7.2 The tariffs shall be reviewed and negotiated in good faith by the Parties on or before xxx and annually thereafter. The negotiated tariffs will be applicable with effect from xxx and annually thereafter. If the Parties fail to reach agreement on or before the xxx within a 30 (thirty) days period then the following formula shall be used after the first 1-year term of the Agreement to determine the tariff a price adjustment. NP = PO TP (20 + 80BM80 L1) 100 BMO L1O Where: P NP = Revised tariff PO TP = Original tender tariff 20 = The fixed portion of the tariff, which tariff that will not be subject to adjustment BM adjustment. L1 = The average of the SEIFSA Index for Road Freight Costs (Transport, Table L2), for the latest available months since xxxxx prior to the date of the tariff adjustment. BMO = The SEIFSA Index for Road Freight Costs (Table L2) for the month of tender, i.e. xxxxx If the Parties fail to reach agreement on or before the xxxxx of the second year of the term, then the following formula shall be used after the 1-year of the term of the Agreement to determine the tariff adjustment P = PO (20 + 80BM) 100 BMO Where: P = Revised tariff PO = Original tender tariff 20 = The fixed portion of the tariff, which will not be subject to adjustment BM = The average of SEIFSA Index for road freight costs (Table L2)L1, for the latest available 12-month period prior to the date of the tariff adjustment BMO increase. L1O = The average of the SEIFSA Index for road freight costs (Road Transport Table L2), L1 for the corresponding 121-month period prior to the period as referred to in BML1. 7.2 7.3 In the event that the cumulative change in the case of diesel/petrol price adjustments of diesel amounts to more than 10% or more since the previous tariff adjustment%, it ArcelorMittal will be the responsibility of the Contractor to apply for the tariff adjustment and ArcelorMittal shall on receipt of a request from the Contractor, adjust the tariff, provided the application for the adjustment of the tariff is received and proved to ArcelorMittal's satisfaction within 14 (fourteen) days from the date of the official adjustment of the diesel diesel/petrol price by the governmental authority concerned. The adjusted tariff will be effective from the 1st calendar day of the month following the month in which the diesel diesel/petrol price adjustment occurred. If the application is received and proved accepted after the 14 (fourteen) days, the adjusted tariff will be effective from the 1st calendar day of the second month following the month in which the diesel diesel/petrol price change occurred. The portion of the tariff that will be subject to diesel diesel/petrol price adjustments is 28is…..%. 7.3 7.4 The base date for determination of the diesel price shall be April 2014 September (R13.3047 R12.6205 per litre) and the applicable tariff for Gauteng as reflected on the South African Petroleum Industry Association’s Associations’ website (xxxx://xxx.xxxxx.xx.za/stats/diesel/htmxxxx://xxx.xxxxx.xx.za/stats/diesel.htm), shall apply to all transport tariff diesel/petrol price adjustments due to diesel diesel/petrol price changes. 7.4 If there is a cumulative decrease of 10% or more in the price of diesel since the previous tariff adjustment due to the change in the price of diesel, ArcelorMittal shall be entitled in its sole discretion to adjust the tariffs accordingly within 14 (fourteen) days from the date of the official adjustment of that diesel price by the governmental authority concerned. The adjusted tariffs will be effective from the 1st calendar day of the month following the month in which the diesel price adjustment occurred. 7.5 The tariffs contained in this Agreement will be adjusted if any new statutory tariffs are introduced and/or if any existing statutory tariffs fall away during the term of this Agreement. 7.6 All requests for tariff adjustments shall be submitted to the Logistics Procurement Specialist, Group Logistics, ArcelorMittal. The current designated official is Xxxxxxxx Xxxxxxx Ria Vermaak and the request can be e-mailed to xxxxxxxx.xxxxxxx@xxxxxxxxxxxxx.xxx Xxx.Xxxxxxx@xxxxxxxxxxxxx.xxx or can be faxed to fax number…………number (000) 000 0000. 7.7 7.6 If there is a decrease in the price of diesel/petrol, compared to the base price of diesel/petrol, ArcelorMittal shall be entitled in its sole discretion to adjust the tariffs accordingly within 14 (fourteen) days from the date of the official adjustment of that diesel/petrol price by the governmental authority concerned. The adjusted tariffs will be effective from the 1st calendar day of the month following the month in which the diesel/petrol price adjustment occurred.

PRICE BASIS. 7.1 The tariffs contained reflected in Annexure C B shall remain fixed until xxxxxx for a 12 (twelve) month period except for fuel diesel/petrol price adjustments as contained in clause 7.3. The . 7.2 If the contract is extender for another year tariffs shall be reviewed and negotiated in good faith by the Parties on or before xxx 30 September 2015 and annually thereafter. The negotiated tariffs will be applicable with effect from xxx 1 October 2015 and annually thereafter. If the Parties fail to reach agreement on or before the xxx 15th of September 2015 then the following formula shall be used after the first 1-year term of the Agreement to determine the tariff adjustment. = PO (20 + 80BM) 100 BMO Where: P = Revised tariff PO = Original tender tariff 20 = The fixed portion of the tariff, which will not be subject to adjustment BM = The average of SEIFSA Index for Road Freight Costs (Table L2), for the latest available months since xxxxx August 2014 prior to the date of the tariff adjustment. BMO = The SEIFSA Index for Road Freight Costs (Table L2) for the month of tender, i.e. xxxxx If the Parties fail to reach agreement on or before the xxxxx of the second year of the term, then the following formula shall be used after the 1-year of the term of the Agreement to determine the tariff adjustment P = PO (20 + 80BM) 100 BMO Where: P = Revised tariff PO = Original tender tariff 20 = The fixed portion of the tariff, which will not be subject to adjustment BM = The average of SEIFSA Index for road freight costs (Table L2), for the latest available 12-month period prior to the date of the tariff adjustment BMO = The average of SEIFSA Index for road freight costs (Table L2), for the corresponding 12-month period prior to the period as referred to in BMAugust 2014. 7.2 7.3 In the event that the cumulative change in the case of diesel/petrol price adjustments of diesel amounts to more than 10% or more since the previous tariff adjustment%, it ArcelorMittal will be the responsibility of the Contractor to apply for the tariff adjustment and ArcelorMittal shall on receipt of a request from the Contractor, adjust the tariff, provided the application for the adjustment of the tariff is received and proved to ArcelorMittal's satisfaction within 14 (fourteen) days from the date of the official adjustment of the diesel diesel/petrol price by the governmental authority concerned. The adjusted tariff will be effective from the 1st calendar day of the month following the month in which the diesel diesel/petrol price adjustment occurred. If the application is received and proved accepted after the 14 (fourteen) days, the adjusted tariff will be effective from the 1st calendar day of the second month following the month in which the diesel diesel/petrol price change occurred. The portion of the tariff that will be subject to diesel diesel/petrol price adjustments is 28%. 7.3 7.4 The base date for determination of the diesel price shall be April August 2014 (R13.3047 R12.8477 per litre) and the applicable tariff for Gauteng as reflected on the South African Petroleum Industry Association’s Associations’ website (xxxx://xxx.xxxxx.xx.za/stats/diesel/htmxxxx://xxx.xxxxx.xx.za/stats/diesel.htm), shall apply to all transport tariff diesel/petrol price adjustments due to diesel diesel/petrol price changes. 7.4 If there is a cumulative decrease of 10% or more in the price of diesel since the previous tariff adjustment due to the change in the price of diesel, ArcelorMittal shall be entitled in its sole discretion to adjust the tariffs accordingly within 14 (fourteen) days from the date of the official adjustment of that diesel price by the governmental authority concerned. The adjusted tariffs will be effective from the 1st calendar day of the month following the month in which the diesel price adjustment occurred. 7.5 The tariffs contained in this Agreement will be adjusted if any new statutory tariffs are introduced and/or if any existing statutory tariffs fall away during the term of this Agreement. 7.6 All requests for tariff adjustments shall be submitted to the Logistics Procurement Specialist, Group Logistics, ArcelorMittal. The current designated official is Xxxxxxxx Xxxxxxx Refilwe Palayi and the request can be e-mailed to xxxxxxxx.xxxxxxx@xxxxxxxxxxxxx.xxx xxxxxxx.xxxxxx@XxxxxxxXxxxxx.xxx or can be faxed to fax number…………number (000) 000 0000. 7.7 7.6 If there is a decrease in the price of diesel/petrol, compared to the base price of diesel/petrol, ArcelorMittal shall be entitled in its sole discretion to adjust the tariffs accordingly within 14 (fourteen) days from the date of the official adjustment of that diesel/petrol price by the governmental authority concerned. The adjusted tariffs will be effective from the 1st calendar day of the month following the month in which the diesel/petrol price adjustment occurred.