Common use of PRICE BASIS Clause in Contracts

PRICE BASIS. 7.1 The tariffs agreed upon shall remain fixed for a 12 (twelve) month period except for 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 annually thereafter. If the Parties fail to reach agreement within a 30 (thirty) days period then the following formula shall be used to determine a price adjustment. NP = TP (20 + 80 L1) 100 L1O Where: NP = Revised tariff TP = Original tender tariff 20 = The fixed portion of the tariff that will not be subject to adjustment. L1 = The average of the SEIFSA Index for Road Transport, Table L1, for the latest available 12-month period prior to the date of tariff increase. L1O = The average of the SEIFSA Index for Road Transport Table L1 for the corresponding 1-month period prior to the period as referred to in L1. 7.3 In the case of diesel/petrol price adjustments of more than 10%, ArcelorMittal will 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/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/petrol price adjustment occurred. If the application is received and 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/petrol price change occurred. The portion of the tariff that will be subject to diesel/petrol price adjustments is…..%. 7.4 The base date for determination of the diesel price shall be September (R12.6205 per litre) and the applicable tariff for Gauteng as reflected on the South African Petroleum Industry Associations’ website (▇▇▇▇://▇▇▇.▇▇▇▇▇.▇▇.za/stats/diesel.htm), shall apply to all diesel/petrol price adjustments due to diesel/petrol price changes. 7.5 All requests for tariff adjustments shall be submitted to the Logistics Procurement Specialist, Group Logistics, ArcelorMittal. The current designated official is Ria Vermaak and the request can be e-mailed to ▇▇▇.▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ or can be faxed to fax number (▇▇▇) ▇▇▇ ▇▇▇▇. 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 agreed upon contained in Annexure C shall remain fixed for a 12 (twelve) month period until xxxxxx except for diesel/petrol 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 within a 30 (thirty) days period on or before the xxx then the following formula shall be used after the first 1-year term of the Agreement to determine a price the tariff adjustment. NP = TP PO (20 + 80 L180BM) 100 L1O BMO Where: NP P = Revised tariff TP PO = Original tender tariff 20 = The fixed portion of the tariff that tariff, which will not be subject to adjustment. L1 adjustment BM = The average of the SEIFSA Index for Road TransportFreight 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 L1L2) 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 increase. L1O adjustment BMO = The average of the SEIFSA Index for Road Transport road freight costs (Table L1 L2), for the corresponding 112-month period prior to the period as referred to in L1BM. 7.3 7.2 In the case event that the cumulative change in the price of diesel/petrol price adjustments diesel amounts to 10% or more since the previous tariff adjustment, it will be the responsibility of more than 10%, the Contractor to apply for the tariff adjustment and ArcelorMittal will 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/petrol 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/petrol diesel price adjustment occurred. If the application is received and accepted 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/petrol diesel price change occurred. The portion of the tariff that will be subject to diesel/petrol diesel price adjustments is…..is 28%. 7.4 7.3 The base date for determination of the diesel price shall be September June 2014 (R12.6205 R12.76 per litre) and the applicable tariff for Gauteng as reflected on the South African Petroleum Industry Associations’ Association’s website (▇▇▇▇://▇▇▇.▇▇▇▇▇.▇▇.za/stats/diesel.htmdiesel/htm), shall apply to all diesel/petrol price transport tariff adjustments due to diesel/petrol 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 Ria Vermaak Tsirello Mokoena and the request can be e-mailed to ▇▇▇▇▇▇▇▇.▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ or can be faxed to fax number (▇▇▇) ▇▇▇ ▇▇▇▇.number………… 7.6 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 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 agreed upon shall up on remain fixed for a 12 (twelve) month period except for 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 annually thereafter. If the Parties fail to reach agreement within a 30 (thirty) days period then the following formula shall be used to determine a price adjustment. NP = TP (20 + 80 L1) 100 L1O Where: NP = Revised tariff TP = Original tender tariff 20 = The fixed portion of the tariff that will not be subject to adjustment. L1 = The average of the SEIFSA Index for Road Transport, Table L1, for the latest available 12-month period prior to the date of tariff increase. L1O = The average of the SEIFSA Index for Road Transport Table L1 for the corresponding 112-month period prior to the period as referred to in L1. 7.3 In the case of diesel/petrol price adjustments of more than 105%, ArcelorMittal will 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/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/petrol price adjustment occurred. If the application is received and 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/petrol price change occurred. The portion of the tariff that will be subject to diesel/petrol price adjustments is…..is percentage agreed up on %. 7.4 The base date for determination of the diesel price shall be September August 2013 (R12.6205 R R12.4823 per litre) and the applicable tariff for Gauteng as reflected on the South African Petroleum Industry Associations’ website (▇▇▇▇://▇▇▇.▇▇▇▇▇.▇▇.za/stats/diesel.htm), shall apply to all diesel/petrol price adjustments due to diesel/petrol price changes. 7.5 All requests for tariff adjustments shall be submitted to the Logistics Procurement Specialist, Group Logistics, ArcelorMittal. The current designated official is Ria Vermaak Livhuwani Mugwagwa and the request can be e-mailed to ▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ or can be faxed to fax number (▇▇▇) ▇ ▇▇▇ ▇▇▇▇. 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 agreed upon reflected in Annexure B shall remain fixed for a 12 (twelve) month period except for diesel/petrol price adjustments as contained in clause 7.3. 7.2 The If the contract is extender for another year tariffs shall be reviewed and negotiated in good faith by the Parties on or before 30 September 2015 and annually thereafter. The negotiated tariffs will be applicable with effect from 1 October 2015 and annually thereafter. If the Parties fail to reach agreement within a 30 (thirty) days period on or before the 15th of September 2015 then the following formula shall be used after the first 1-year term of the Agreement to determine a price the tariff adjustment. NP = TP PO (20 + 80 L180BM) 100 L1O BMO Where: NP P = Revised tariff TP PO = Original tender tariff 20 = The fixed portion of the tariff that tariff, which will not be subject to adjustment. L1 adjustment BM = The average of the SEIFSA Index for Road Transport, Freight Costs (Table L1L2), for the latest available 12-month period months since August 2014 prior to the date of the tariff increaseadjustment. L1O BMO = The average of the SEIFSA Index for Road Transport Freight Costs (Table L1 L2) for the corresponding 1-month period prior to the period as referred to in L1of tender, i.e. August 2014. 7.3 In the case of diesel/petrol price adjustments of more than 10%, ArcelorMittal will 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/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/petrol price adjustment occurred. If the application is received and 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/petrol price change occurred. The portion of the tariff that will be subject to diesel/petrol price adjustments is…..is 28%. 7.4 The base date for determination of the diesel price shall be September August 2014 (R12.6205 R12.8477 per litre) and the applicable tariff for Gauteng as reflected on the South African Petroleum Industry Associations’ website (▇▇▇▇://▇▇▇.▇▇▇▇▇.▇▇.za/stats/diesel.htm), shall apply to all diesel/petrol price adjustments due to diesel/petrol price changes. 7.5 All requests for tariff adjustments shall be submitted to the Logistics Procurement Specialist, Group Logistics, ArcelorMittal. The current designated official is Ria Vermaak Refilwe Palayi and the request can be e-mailed to ▇▇▇▇▇▇▇.▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ or can be faxed to fax number (▇▇▇) ▇▇▇ ▇▇▇▇. 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 agreed upon tariff as reflected in clause 6.1 shall remain fixed for a 12 10 (twelveten) month period period, except for diesel/petrol diesel price adjustments as contained in clause 7.3. 7.2 The tariffs Should the Agreement be extended, then the tariff shall be reviewed and negotiated in good faith by the Parties after the first one-year term of the Agreement. The negotiated tariff will be applicable with effect from 1 November 2015 and annually thereafter. If the Parties parties fail to reach agreement within a 30 (thirty) days period then before 1 November 2015, the following formula shall be used after the first 1-year term of the Agreement to determine a price tariff adjustment. NP P = TP PO (20 + 80 L180BM) 100 L1O Where: NP BMO P = Revised tariff TP PO = Original tender tariff 20 = The fixed portion of the tariff that tariff, which will not be subject to adjustment. L1 adjustment BM = The average of the SEIFSA Index for Road TransportFreight Costs (Table L2), for the latest available months since October 2014 prior to the date of the tariff adjustment. BMO = The SEIFSA Index for Road Freight Costs (Table L1L2) for the month of tender, i.e. October 2014 If the parties fail to reach agreement before 1 November 2016, the following formula shall be used after the second 1-year term of the Agreement to determine 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 increase. L1O adjustment BMO = The average of the SEIFSA Index for Road Transport road freight costs (Table L1 L2), for the corresponding 1-month period prior to the period as referred to in L1reflected for BM for the previous year. 7.3 In the case of diesel/petrol diesel price adjustments adjustment of more than 10%, compared to the previous diesel price that applied to the tariff, ArcelorMittal will 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/petrol 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/petrol diesel price adjustment occurred. If the application is received and 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/petrol diesel price change occurred. The portion of the tariff that will be subject to diesel/petrol price adjustments is…..%. 7.4 The base date for determination of the diesel price shall be September October 2014 (R12.6205 per litreR12.4639/liter for 0.05% sulphur) and the applicable tariff for Gauteng as reflected on the South African Petroleum Industry Associations’ website (▇▇▇▇://▇▇▇.▇▇▇▇▇.▇▇.za/stats/diesel.htm), shall apply to all diesel/petrol diesel price adjustments due to diesel/petrol diesel price changes. 7.5 All requests for tariff adjustments shall be submitted to the Logistics Senior Procurement Specialist, Group Logistics, ArcelorMittal. The current designated official is Ria Vermaak and the request can be e-mailed to ▇▇▇.▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ or can be faxed to fax number (▇▇▇) ▇▇▇ ▇▇▇▇. 7.6 If there is In the case of a decrease of more than 10% in the price of diesel/petrol, compared to the base previous diesel price of diesel/petrolthat 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/petrol 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/petrol diesel price adjustment occurred.

PRICE BASIS. 7.1 The tariffs agreed upon contained in Annexure C shall remain fixed for a 12 (twelve) month period until 30 June 2014 except for diesel/petrol fuel price adjustments as contained in clause 7.37.4. 7.2 The 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 before the one-year anniversary of the Agreement and annually thereafter. The negotiated tariffs will be applicable with effect from the date of anniversary of the Agreement and annually thereafter. If the Parties fail to reach agreement within a 30 (thirty) days period agreement, then the following formula shall be used to determine a price the tariff adjustment. NP P = TP PO (20 + 80 L180BM) 100 L1O Where: NP P = Revised tariff TP PO = Original tender tariff 20 = The fixed portion of the tariff that tariff, which will not be subject to adjustment. L1 adjustment BM = The average of the SEIFSA Index for Road Transport, road freight costs (Table L1, L2) for the latest available 12-months that lapsed since the month period prior to the date of tariff increase. L1O tender (BMO) BMO = The average of the SEIFSA Index for Road Transport road freight costs (Table L1 L2) for the corresponding 1-month period prior to the period as referred to in L1.of tender, i.e. March 2014 7.3 Statutory movements in the price of diesel shall be reviewed monthly. In the case event that the cumulative change in the price of diesel/petrol price adjustments diesel amounts to an increase of 10% or more than 10%since the previous tariff adjustment, it will be the responsibility of the Contractor to apply for the tariff adjustment and ArcelorMittal will 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/petrol 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/petrol diesel price adjustment occurred. If the application is received and accepted 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/petrol diesel price change occurred. The portion of the tariff that will be subject to diesel/petrol diesel price adjustments is…..is 38%. 7.4 The base date for determination of the diesel price shall be September 01 April 2014 (R12.6205 R13.3047 per litre) and the applicable tariff for Gauteng as reflected on the South African Petroleum Industry Associations’ Association’s website (▇▇▇▇://▇▇▇.▇▇▇▇▇.▇▇.za/stats/diesel.htmdiesel/htm), shall apply to all diesel/petrol price transport tariff adjustments due to diesel/petrol diesel price changes. 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 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. 7.6 All requests for tariff adjustments shall be submitted to the Logistics Senior Procurement Specialist, Group Logistics, ArcelorMittal. The current designated official is Ria Vermaak Mr Tsirello Mokoena and the request can be e-mailed to ▇▇▇▇▇▇▇▇.▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ or can be faxed to fax number (▇▇▇) ▇ ▇▇▇ ▇▇▇▇. 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 agreed upon shall up on remain fixed for a 12 (twelve) month period except for 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 annually thereafter. If the Parties fail to reach agreement within a 30 (thirty) days period then the following formula shall be used to determine a price adjustment. NP = TP (20 + 80 L1) 100 L1O Where: NP = Revised tariff TP = Original tender tariff 20 = The fixed portion of the tariff that will not be subject to adjustment. L1 = The average of the SEIFSA Index for Road Transport, Table L1, for the latest available 12-month period prior to the date of tariff increase. L1O = The average of the SEIFSA Index for Road Transport Table L1 for the corresponding 112-month period prior to the period as referred to in L1. 7.3 In the case of diesel/petrol price adjustments of more than 10%, ArcelorMittal will 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/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/petrol price adjustment occurred. If the application is received and 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/petrol price change occurred. The portion of the tariff that will be subject to diesel/petrol price adjustments is…..%. 7.4 The base date for determination of the diesel price shall be September February 2014 (R12.6205 R R13.1135 per litrelitre for 0.05% sulphur) and the applicable tariff for Gauteng as reflected on the South African Petroleum Industry Associations’ website (▇▇▇▇://▇▇▇.▇▇▇▇▇.▇▇.za/stats/diesel.htm), shall apply to all diesel/petrol price adjustments due to diesel/petrol price changes. 7.5 All requests for tariff adjustments shall be submitted to the Logistics Senior Procurement Specialist, Group Logistics, ArcelorMittal. The current designated official is Ria Vermaak Rudzani Tshifhumulo and the request can be e-mailed to ▇▇▇Rudzani.▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ or can be faxed to fax number (▇▇▇) ▇▇▇ ▇▇▇▇.Tshifhumulo@arcelormittal 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 agreed upon contained in Annexure C shall remain fixed for a 12 (twelve) month period until xxxxxx except for diesel/petrol 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 within a 30 (thirty) days period on or before the xxx then the following formula shall be used after the first 1-year term of the Agreement to determine a price the tariff adjustment. NP = TP PO (20 + 80 L180BM) 100 L1O BMO Where: NP P = Revised tariff TP PO = Original tender tariff 20 = The fixed portion of the tariff that tariff, which will not be subject to adjustment. L1 adjustment BM = The average of the SEIFSA Index for Road TransportFreight 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 L1L2) 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 increase. L1O adjustment BMO = The average of the SEIFSA Index for Road Transport road freight costs (Table L1 L2), for the corresponding 112-month period prior to the period as referred to in L1BM. 7.3 7.2 In the case event that the cumulative change in the price of diesel/petrol price adjustments diesel amounts to 10% or more since the previous tariff adjustment, it will be the responsibility of more than 10%, the Contractor to apply for the tariff adjustment and ArcelorMittal will 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/petrol 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/petrol diesel price adjustment occurred. If the application is received and accepted 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/petrol diesel price change occurred. The portion of the tariff that will be subject to diesel/petrol diesel price adjustments is…..is 28%. 7.4 7.3 The base date for determination of the diesel price shall be September April 2014 (R12.6205 R13.3047 per litre) and the applicable tariff for Gauteng as reflected on the South African Petroleum Industry Associations’ Association’s website (▇▇▇▇://▇▇▇.▇▇▇▇▇.▇▇.za/stats/diesel.htmdiesel/htm), shall apply to all diesel/petrol price transport tariff adjustments due to diesel/petrol 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 Ria Vermaak ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ and the request can be e-mailed to ▇▇▇▇▇▇▇▇.▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ or can be faxed to fax number (▇▇▇) ▇▇▇ ▇▇▇▇.number………… 7.6 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 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 agreed upon reflected in Annexure B shall remain fixed for a 12 (twelve) month period except for diesel/petrol price adjustments as contained in clause 7.3. 7.2 The 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 before the one-year anniversary of the Agreement and annually thereafter. The negotiated tariffs will be applicable with effect from the date of anniversary of the Agreement and annually thereafter. If the Parties fail to reach agreement within a 30 (thirty) days period agreement, then the following formula shall be used to determine a price the tariff adjustment. NP = TP (20 + 80 L1) 100 L1O Where: NP = Revised tariff TP = Original tender tariff 20 = The fixed portion of the tariff that will not be subject to adjustment. L1 = The average of the SEIFSA Index for Road Transport, Table L1, for the latest available 12-month period prior to the date of tariff increase. L1O = The average of the SEIFSA Index for Road Transport Table L1 for the corresponding 112-month period prior to the period as referred to in L1. 7.3 In the case of diesel/petrol price adjustments of more than 10%, ArcelorMittal will 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/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/petrol price adjustment occurred. If the application is received and 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/petrol price change occurred. The portion of the tariff that will be subject to diesel/petrol price adjustments is…..%.is xxxx% 7.4 The base date for determination of the diesel price shall be September (R12.6205 per litre) and the applicable tariff for Gauteng as reflected on the South African Petroleum Industry Associations’ website (▇▇▇▇://▇▇▇.▇▇▇▇▇.▇▇.za/stats/diesel.htm), shall apply to all diesel/petrol price adjustments due to diesel/petrol price changes. 7.5 All requests for tariff adjustments shall be submitted to the Logistics Procurement Specialist, Group Logistics, ArcelorMittal. The current designated official is Ria Vermaak Livhuwane Mugwagwa and the request can be e-mailed to ▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ or can be faxed to fax number (▇▇▇) ▇ ▇▇▇ ▇▇▇▇. 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 agreed upon contained in clause 6 shall remain fixed for a 12 (twelve) month period except for diesel/petrol fuel price adjustments as contained in clause 7.3. 7.2 The tariffs shall be reviewed and negotiated in good faith by the Parties annually thereafter. If the Parties fail to reach agreement within a 30 thirty (thirty30) days day period then the following formula shall be used to determine a price adjustment. NP P = TP PO (20 15 + 80 L185 BM) 100 L1O BMO Where: NP P = Revised tariff TP PO = Original tender tariff 20 15 = The fixed portion of the tariff that tariff, which will not be subject to adjustment. L1 BM = The average of the SEIFSA Index Final Seifsa index for Road Transport, road freight costs (Table L1), for the latest available 12-month period two months prior to the date month of tariff increase. L1O BMO = The average of the SEIFSA Index Final Seifsa index for Road Transport road freight costs (Table L1 for the corresponding 1-month period prior to the period as referred to in L1.) 7.3 In the case of diesel/petrol price adjustments of more than 10%, ArcelorMittal will 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/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/petrol price adjustment occurred. If the application is received and 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/petrol price change occurred. The portion of the tariff that will be subject to diesel/petrol price adjustments is…..is xxxxxx %. 7.4 The base date for determination of the diesel price diesel/petrol price, shall be September October 2013 (R12.6205 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 Associations’ website (▇▇▇▇://▇▇▇.▇▇▇▇▇.▇▇.za/stats/diesel.htmBusiness Day), shall apply to all diesel/petrol price adjustments due to diesel/petrol price changesadjustments. 7.5 All requests for tariff adjustments shall be submitted to the Logistics Procurement Specialist, Group Logistics, ArcelorMittal. The current designated official is Ria Vermaak ▇▇▇ ▇▇▇▇▇▇▇ and the request can be e-e mailed to ▇▇▇.▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ or can be faxed to fax number (▇▇▇) ▇ ▇▇▇ ▇▇▇▇. 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.