Terms & Conditions

TERMS AND CONDITIONS OF USE

READ THESE TERMS AND CONDITIONS (“TERMS”) CAREFULLY. BY ACCESSING AND USING THE WEBSITE LOCATED AT www.cushingasset.com (“WEBSITE”), YOU ACKNOWLEDGE THAT YOU HAVE READ THESE TERMS AND CONDITIONS AND THAT YOU AGREE TO BE LEGALLY BOUND BY THEM. IF YOU DO NOT AGREE TO ALL OF THE TERMS AND CONDITIONS OF THIS AGREEMENT, YOU ARE NOT AN AUTHORIZED USER OF THESE SERVICES AND YOU SHOULD NOT USE THIS WEBSITE.

CUSHING® ASSET MANAGEMENT L.P. (“CUSHING®”) RESERVES THE RIGHT TO CHANGE, MODIFY, ADD OR REMOVE PORTIONS OF THESE TERMS AT ANY TIME FOR ANY REASON. WE SUGGEST THAT YOU REVIEW THESE TERMS PERIODICALLY FOR CHANGES. SUCH CHANGES SHALL BE EFFECTIVE IMMEDIATELY UPON POSTING. YOU ACKNOWLEDGE THAT BY ACCESSING OUR WEBSITE AFTER WE HAVE POSTED CHANGES TO THESE TERMS, YOU ARE AGREEING TO THESE TERMS AS MODIFIED.

DISCLAIMER: Nothing contained on this Website constitutes tax, legal, insurance or investment advice and this Website does not constitute an offering of any security, product or service. All information provided in this Website is impersonal and not customized to the specific needs of any person. Neither the information, nor any opinion, contained on this Website constitutes a solicitation or offer by Cushing® or its affiliates to buy or sell any securities, futures, options or other financial instruments, nor shall any such security be offered or sold to any person in any jurisdiction in which such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction. Decisions based on information contained on this Website are the sole responsibility of the visitor. This Website does not contain, and does not purport to contain, the level of detail necessary to give sufficient basis for an investment decision. In exchange for using this Website, the visitor agrees to indemnify and hold Cushing®, its officers, directors, employees, affiliates, agents, licensors and suppliers harmless against any and all claims, losses, liability, costs and expenses (including but not limited to attorneys’ fees) arising from the visitor’s use of this Website, from the visitor’s violation of these Terms or from any investment decisions that the visitor makes based on such information.

While Cushing® believes that the information provided in this Website is accurate, the information and services provided on this Website are provided “AS IS” and without warranties of any kind, either expressed or implied. To the fullest extent permissible pursuant to applicable law, Cushing® disclaims all warranties, including, but not limited to, any warranty of non-infringement of third-party rights and any implied warranties of merchantability and fitness for a particular purpose. Cushing® does not warrant, either expressly or impliedly, the accuracy or completeness of the information, text, graphics, links or other items contained on this Website and does not warrant that the functions contained in this Website will be uninterrupted or error-free, that defects will be corrected, or that the Website will be free of viruses or other harmful components. Cushing® expressly disclaims all liability for errors and omissions in the materials on this Website and for the use or interpretation by others of information contained on the Website. Cushing® shall not be liable for any claims or losses of any nature in connection with the use or misuse of the information in this Website, including but not limited to, lost profits or punitive or consequential damages, even if Cushing® has been advised of the possibility of same.

TRADEMARKS, COPYRIGHTS AND OTHER INTELLECTUAL PROPERTY: The content contained on this Website is owned or licensed by Cushing® and its third-party information providers and is protected by applicable copyrights, trademarks, service marks, and/or other intellectual property rights. Such content is solely for your personal, non-commercial use. Accordingly, you may not copy, distribute, modify, post, frame or deep link this Website, including any text, graphics, video, audio, software code, user interface design or logos. You may download material displayed on this Website for your personal use provided you also retain all copyright and other proprietary notices contained on the materials. You may not distribute, modify, transmit, reuse, repost, or use the content of this Website for public or commercial purposes, including all text, images, audio, and video, without Cushing’s® written permission. Modification or use of the materials for any other purpose violates Cushing’s® intellectual property rights.

All trademarks, service marks, trade names, and logos displayed on this Website are proprietary to Cushing® and/or their respective owners. Nothing contained on this Website should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any trademark displayed on this Website without the written permission of Cushing® or such other third party that may own the

trademark displayed on this Website. Your use of the trademarks displayed on this Website, except as provided herein, is strictly prohibited.

The use of the images displayed on this Website by you, or anyone else authorized by you, is prohibited. Any unauthorized use of the images may violate copyright laws, trademark laws, and the laws of privacy and publicity, and communications, as well as other regulations and statutes. If you download any information from this Website, you agree that you will not copy it or remove or obscure any copyright or other notices or legends contained in any such information.

LINKS TO OTHER WEBSITES: Cushing® may establish links between this Website and one or more websites operated by third parties. Cushing® has no control over any such other websites, the contents therein or the products/services offered. The existence of any such links shall not constitute an endorsement of, or representation or warranty by Cushing® regarding such websites, the contents of the websites, the products or services of the websites or the operators of the websites. Your access to and use of such linked websites is governed by the terms of use and privacy policies of those sites, and shall be at your own risk. Cushing® disclaims responsibility for the privacy policies and customer information practices of third-party internet websites hyperlinked from our Website.

LINKS TO CUSHING® FROM OTHER WEBSITES: You shall not display hyperlinks on your websites to any website owned or operated by Cushing®. If you desire to display on your website a hyperlink to a Cushing® website, you must enter into a written agreement with Cushing® governing such display. Access to any Cushing® website does not authorize you to use any of Cushing’s® names, logos, trademarks or copyrighted material, and you agree not to do so without Cushing’s® express written consent. Requests to display hyperlinks on your websites to Cushing® websites should be e-mailed to cmeyer@cushingasset.com.

TRANSMISSIONS TO AND FROM THIS WEBSITE: Electronic communications can be intercepted by third parties and, accordingly, transmissions to and from this Website may not be secure. Communications to Cushing®, particularly those containing confidential information, may be sent by mail to: Cushing® Asset Management, L.P., 8117 Preston Road, Suite 440, Dallas, Texas 75225, Attn: Chelsey Meyer. Cushing® shall be free to use, for any purpose, any ideas, concepts, know-how, or

techniques provided by a website user to Cushing® through this Website. You acknowledge and agree that Cushing® has granted you limited access to the specific files pertaining to the Cushing® Funds (“Approved Files”), and you agree not to attempt to access computer files other than the Approved Files.

JURISDICTION AND GOVERNING LAW: The information provided on this Website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject Cushing® or its affiliates to any registration requirement within such jurisdiction or country. Each investment product and service referred to on this Website is intended to be made available to only U.S. residents. This Website will not be considered a solicitation for or offering of any investment product or service to any person in any jurisdiction where such solicitation or offering would be illegal.

The laws of the State of Texas govern these Terms without regard to conflict of law provisions. If you take legal action relating to these Terms, you consent to exclusive jurisdiction and venue for any action arising out of these Terms in Dallas County, Texas for the purpose of litigating any action with Cushing®, its affiliates or with any funds referenced in this site.

LIMITATION OF LIABILITY: CUSHING® AND ITS AFFILIATES AND THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES OR AGENTS WILL NOT BE LIABLE TO YOU OR ANYONE ELSE FOR ANY DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, DIRECT, CONSEQUENTIAL, INCIDENTAL, SPECIAL OR INDIRECT DAMAGES (INCLUDING BUT NOT LIMITED TO LOST PROFITS, TRADING LOSSES OR DAMAGES THAT RESULT FROM USE OR LOSS OF USE OF THIS WEBSITE), EVEN IF CUSHING HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES OR LOSSES, INCLUDING, WITHOUT LIMITATION, FROM THE USE OR ATTEMPTED USE OF THIS WEBSITE OR ANOTHER LINKED WEBSITE.

IF YOU LIVE IN A STATE THAT DOES NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY OR INCIDENTAL OR CONSEQUENTIAL DAMAGES, OR IF YOU ACCESS THE WEBSITE SOLELY THROUGH AN ARRANGEMENT WITH YOUR EMPLOYER OR PLAN SPONSOR, SOME OR ALL OF THESE LIMITATIONS AND EXCLUSIONS MAY NOT APPLY TO YOU.

TIMELINESS OF CONTENT: All content on this Website is presented only as of the date published or indicated, and may be superseded by subsequent market events or for other reasons. In addition, you are responsible for setting the cache settings on your browser to ensure you are receiving the most recent data.

ACCESS TO CUSHINGASSET.COM TECHNOLOGY: You shall be responsible for obtaining access to the cushingasset.com technology and for all equipment and software necessary to access the cushingasset.com technology and you acknowledge that obtaining the foregoing may involve third-party fees (such as internet service provider or airtime charges). You are responsible for all telephone, equipment, airtime and internet service provider charges associated with accessing the cushingfunds.com website. Moreover, if you wish to access such content as Press Releases and SEC filings on cushingasset.com you may be required to download and install the latest version of Adobe Reader (Free) from the Adobe website.

PROHIBITED USES: Except as otherwise stated in these Terms or as expressly authorized by Cushing® in writing, you may not:

* Use this Website in any manner that could damage or overburden any Cushing® server, or any network connected to any Cushing® server, as all servers have limited capacity and are used by many people;

* Use this Website in any manner that would interfere with another party’s use of the Website;

* Include the term “Cushing®,” or any Cushing® trademark or executive’s name, or any variation of the foregoing, as a meta-tag, hidden textual element;

* Use any robot, spider, intelligent agent, other automatic device, or manual process to search, monitor or copy this Website or the reports, data, information, content, software, products services, or other materials on, generated by or obtained from this Website, whether through links or otherwise (collectively, “Materials”), without Cushing’s® permission, provided that generally available third-party web browsers may be used without such permission; or

* Use this Website or the Materials in any manner that could create impression of affiliation, sponsorship or endorsement by Cushing®.

UNAUTHORIZED USE OF CONTENT: You agree to defend, indemnify and hold harmless Cushing®, its affiliates and each of their respective officers, directors, members, partners, managers and employees against any losses, damages, claims, liabilities and costs (including reasonable attorney’s fees) to the extent resulting from or arising out of any unauthorized or otherwise inappropriate use (or inability to use) of any of the content of this Website attributable to you or which occurs through the use of your IP address.

TERMINATION: Cushing® may terminate your access to the Website for any reason, without prior notice.

WAIVER: No waiver by Cushing® of any right under or term or provision of these Terms will be deemed a waiver of any other right, term, or provision of these Terms at the time of such waiver or a waiver of that or any other right, term, or provision of these Terms at any other time.

INTEGRATION AND SEVERABILITY: If any provision of these Terms is deemed unlawful, void, or for any reason unenforceable, then that provision will be deemed severable from these Terms and will not affect the validity and enforceability of the remaining provisions. The preceding Terms of use represent the entire agreement between Cushing® and the user relating to the subject matter herein.

Cushing® is an equal opportunity employer committed to diversity in the workplace.