PETROCK RESEARCH

Terms of Use

Last updated: February 2026

These Terms of Use ("Terms") govern your access to and use of the website, publications, reports, and any other content produced or distributed by Petrock Research ("the Firm", "we", "our", or "us"). By accessing any of our materials, you confirm that you have read, understood, and agree to be bound by these Terms.

Article I — Nature of Services

1.1 Student-Led Initiative

Petrock Research is a student-led research organisation. All content, including but not limited to reports, analyses, data, and commentary, is produced for academic, educational, and informational purposes only.

1.2 Non-Professional Status

The Firm is not a registered investment advisor, broker-dealer, or financial analyst body under any applicable law or regulation. No person associated with the Firm is acting in a professional or fiduciary capacity of any kind.

Article II — No Reliance and No Advice

2.1 No Investment Advice

The contents of any report or communication issued by the Firm do not constitute, and should not be construed as, investment, tax, legal, or accounting advice. Nothing published by the Firm constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments.

2.2 Independent Due Diligence

All readers are advised that any investment decision should be made only after consulting with a qualified financial professional and conducting independent due diligence. The reader remains solely responsible for their own investment research and investment decisions.

Article III — Limitation of Liability

3.1 No Warranty

To the maximum extent permitted by applicable law, Petrock Research provides all information "AS IS" and without warranty of any kind. The Firm expressly disclaims all warranties, express or implied, including but not limited to the accuracy, timeliness, completeness, or fitness for a particular purpose of the information provided.

3.2 Exclusion of Damages

In no event shall Petrock Research, its student members, or its affiliates be liable for any damages — including, without limitation, direct, indirect, special, incidental, or consequential damages, losses, or expenses — arising in connection with the use of our research or the inability to use such research by any party. This includes, without limitation, any financial or trading losses incurred by the reader.

Article IV — Indemnification

4.1 Agreement to Indemnify

By accessing the Firm's research, you agree to indemnify, defend, and hold harmless Petrock Research and its individual members from and against any and all claims, liabilities, damages, losses, or expenses (including reasonable legal fees and costs) arising out of or in any way connected with your access to or use of the Firm's materials.

Article V — Conflicts of Interest

5.1 Personal Holdings

Authors and members of Petrock Research may hold positions in the securities discussed in its publications. Where a material conflict of interest exists, a disclosure will be included at the beginning of the relevant report. Such positions may be subject to change without notice, and the Firm does not guarantee the objectivity of its reports, which represent the subjective opinions of student analysts at a specific point in time.

Article VI — Intellectual Property

6.1 Ownership

All research, reports, logos, and proprietary content published by Petrock Research are the intellectual property of the Firm. No part of our publications may be reproduced, redistributed, or sold without the express written consent of the authorised representatives of Petrock Research.

6.2 Permitted Use

You may reference or cite our work for personal, academic, or non-commercial purposes provided that clear attribution is given to Petrock Research and the original source is linked where possible.

Article VII — Third-Party Links

7.1 External Content

Our website and publications may contain links to third-party websites or resources. These links are provided for convenience only. Petrock Research does not endorse, control, or accept responsibility for the content, privacy practices, or accuracy of any third-party site. Accessing such links is entirely at your own risk.

Article VIII — Amendments

8.1 Right to Modify

Petrock Research reserves the right to update or amend these Terms at any time. When changes are made, the "Last updated" date at the top of this page will be revised accordingly. It is your responsibility to review these Terms periodically. Continued use of our website or materials following any amendment constitutes your acceptance of the updated Terms.

Article IX — Governing Law and Jurisdiction

9.1 Applicable Law

These Terms shall be governed by and construed in accordance with the laws of Italy, without regard to its conflict of law provisions. Any disputes arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the competent courts of Italy.

Article X — Severability

10.1 Partial Invalidity

If any provision of these Terms is found to be unlawful, void, or unenforceable by a court of competent jurisdiction, that provision shall be deemed severed from the remaining Terms. The invalidity or unenforceability of any single provision shall not affect the validity or enforceability of the remaining provisions, which shall continue in full force and effect.

Article XI — Contact

If you have any questions about these Terms, please contact us at info@petrockresearch.com or through the contact form on our homepage.