Document:

Form of Participant Agreement

 Exhibit 4.2 
 FORM OF 
 PARTICIPANT AGREEMENT 

STREAM EXCHANGE TRADED TRUST 
 This Participant Agreement (the “Agreement”), dated as of             2012, is entered into by and
among                    (the “Authorized Participant”), STREAM Exchange Traded Trust, a Delaware statutory trust organized in
series (the “Trust”) with respect to each series set forth on Schedule A attached hereto (each a “Fund,” collectively, the “Funds”), and BNP Paribas Quantitative Strategies, LLC, a
Delaware limited liability company, as managing owner of the Trust and the Funds (the “Managing Owner”). 

SUMMARY 

As provided in the Fourth Amended and Restated Declaration of Trust and Trust Agreement of the Trust, as amended from time to time (the
“Trust Agreement”) as currently in effect and described in the applicable Prospectus (defined below), common units of fractional undivided beneficial interest with limited liability in and ownership of each Fund (the
“Shares”) may be created or redeemed in aggregations (each aggregation, a “Basket” and the minimum number of units of a Fund that may be created at any one time, which shall be 40,000 or such greater or lesser
number as the Managing Owner may determine from time to time for each Fund, a “Creation Basket”) as specified in the Prospectus. Baskets are offered only pursuant to the registration statement of each Fund, as declared effective by
the Securities and Exchange Commission (“SEC”) and as the same may be amended from time to time thereafter or any successor registration statement in respect of Shares of each Fund (each, a “Registration Statement,”
collectively, the “Registration Statements”) together with the prospectus of each Trust in the form filed with the SEC under Rule 424(b) under the Securities Act of 1933, as amended (the “1933 Act”), after the
effectiveness of each Registration Statement (each a “Prospectus,” collectively, the “Prospectuses”), and as supplemented from time to time. Under the Trust Agreement, the Managing Owner is authorized to issue
Baskets to, and redeem Baskets from, Authorized Participants, (i) through the Continuous Net Settlement (“CNS”) clearing processes of NSCC as such processes have been enhanced to effect purchases and redemptions of Creation
Baskets and Redemption Baskets, such processes being referred to herein as the “CNS Clearing Process,” or (ii) if outside the CNS Clearing Process, only through the facilities of The Depository Trust Company
(“DTC” or the “Depository”) (the “DTC Process”), or a successor depository, and only in exchange for cash. This Agreement sets forth the specific procedures by which an Authorized Participant may
create or redeem Baskets. 
 Capitalized terms used but not otherwise defined in this Agreement shall have the meanings assigned
to such terms in the Trust Agreement. To the extent there is a conflict between any provision of this Agreement and the provisions of a Trust Agreement, the provisions of the Trust Agreement shall control. To the extent there is a conflict between
any provision of this Agreement and the provisions of the Prospectus, the Prospectus shall control. For the avoidance of doubt, any action which is referred to herein as an action being taken by the Managing Owner may be taken by a party whom the
Managing Owner has duly authorized to take such action. 

 To give effect to the foregoing premises and in consideration of the mutual covenants and
agreements set forth below, the parties hereto agree as follows: 
 Section 1. Order Placement. To place orders to
create (“Creation Orders”) or redeem (“Redemption Orders”) one or more Baskets, Authorized Participants must follow the procedures for creation and redemption referred to in Section 3 of this Agreement and the
procedures described in Attachment A hereto (the “Procedures”), as each may be amended, modified or supplemented from time to time. 
 Section 2. Status and Obligations of Authorized Participant. The Authorized Participant represents, warrants and covenants the following: 

(a) The Authorized Participant hereby represents, covenants and warrants that with respect to Creation Orders or Redemption Orders of
Creation Baskets or Redemption Baskets, respectively, of any Fund (i) through the CNS Clearing Process, it is a member of the National Securities Clearing Corporation (“NSCC”) and an Authorized Participant in the CNS System of NSCC, a
“Participating Party”), and/or (ii) outside the CNS Clearing Process, it is a participant of DTC (as such a participant, a “DTC Participant”). Any change in the foregoing status of the Authorized Participant
shall terminate this Agreement and the Authorized Participant shall give immediate notice to the Managing Owner of such event. 

(b) Unless Section 2(d) applies, the Authorized Participant either (i) is registered as a broker-dealer under the Securities
Exchange Act of 1934, as amended (the “1934 Act”), and is a member in good standing of the Financial Industry Regulatory Authority, Inc. (“FINRA”), or (ii) is exempt from being, or otherwise is not required to
be, licensed as a broker-dealer or a member of FINRA, and in either case is qualified to act as a broker or dealer in the states or other jurisdictions where the nature of its business so requires. The Authorized Participant shall maintain any such
registrations, qualifications and membership in good standing, or, if applicable, exempt status, in full force and effect throughout the term of this Agreement. The Authorized Participant shall comply with all applicable United States federal laws,
including without limitation, the prospectus delivery requirements of Section 5 of the 1933 Act and all applicable rules of the SEC, the laws of the states or other jurisdictions concerned, and the rules and regulations promulgated thereunder,
and with the Constitution, By-Laws and Conduct Rules of FINRA, if it is a FINRA member, and shall not offer or sell Shares in any state or jurisdiction where they may not lawfully be offered and/or sold. 

(c) The Authorized Participant understands and acknowledges that the proposed method by which Baskets will be created and traded may
raise certain issues under applicable securities laws. The Authorized Participant understands and acknowledges that, for example, because new Shares can be created and issued on an ongoing basis, at any point during the life of a Trust, a
“distribution,” as such term is used in the 1933 Act, may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner that would render it a
statutory underwriter and subject it to the prospectus delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “Plan of Distribution” section of the Prospectus and consult with its own counsel in
connection with entering into this Agreement and submitting an order for the creation of Basket(s) on a Creation Order. 

  
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 (d) If the Authorized Participant is offering or selling Shares in jurisdictions outside the
several states, territories and possessions of the United States and is not otherwise required to be registered, qualified or a member of FINRA as set forth in Section 2(b) above, the Authorized Participant shall (i) comply with all
applicable laws of the jurisdiction in which such offer and/or sale is made, (ii) comply with the full disclosure requirements of the 1933 Act and the Commodities Exchange Act (the “CEA”), and the regulations promulgated
thereunder, and (iii) conduct its business in accordance with the spirit of the FINRA Conduct Rules. 
 (e) The Authorized
Participant is in compliance with the money laundering and related provisions of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (the “USA PATRIOT Act”),
and the regulations promulgated thereunder, if the Authorized Participant is subject to the requirements of the USA PATRIOT Act. 
 Section 3. Orders. (a) All orders to create or redeem Baskets shall be made in accordance with the terms of the Trust Agreement, this Agreement and the Procedures (as provided in
Attachment A to this Agreement). Each party shall comply with such foregoing terms and procedures to the extent applicable to it. The Authorized Participant hereby consents to the use of recorded telephone lines whether or not such use is
reflected in the Procedures and the Managing Owner shall take all reasonable steps to cause the appropriate party to provide the Authorized Participant with copies of such recordings upon reasonable request. The Managing Owner may issue additional
or other Procedures from time to time relating to the manner of creating or redeeming Baskets which are not related to the Procedures, and the Authorized Participant shall comply with such procedures of which it has been notified in accordance with
this Agreement. 
 (b) The Authorized Participant acknowledges and agrees on behalf of itself and any party for which it is
acting (whether such party is a customer or otherwise) that, as provided in the Procedures, each Creation Order and each Redemption Order may not be revoked by the Authorized Participant upon its delivery to the Transfer Agent (as defined in the
Procedures). A form of Creation Order is attached hereto as Exhibit B and a form of Redemption Order is attached hereto as Exhibit C. 
 (c) The Managing Owner or its delegate shall have the absolute right, but shall have no obligation, to reject any Creation Order or Creation Basket Capital Contribution (as defined in the Trust Agreement)
made in connection with a Creation Order (i) determined by the Managing Owner or its delegate not to be in proper form; (ii) the acceptance or receipt of which could, in the opinion of counsel to the Managing Owner, be unlawful; or
(iii) if circumstances outside the control of the Managing Owner make it, for all practical purposes, not feasible to process Creation Baskets. The Managing Owner shall reject a Creation Order or Creation Basket Capital Contribution if it
reasonably believes that such order would have adverse tax consequences to any Fund or its shareholders. The Managing Owner shall notify the Authorized Participant of any rejection of an order as soon as reasonably practicable. The Managing Owner
shall not be liable to any person by reason of the rejection of any Creation Order or Creation Basket Capital Contribution. 

  
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 (d) The Managing Owner shall reject any Redemption Order the fulfillment of which its
counsel advises in writing that it would be illegal under applicable laws and regulations. The Managing Owner shall not have any liability to any person for rejecting a Redemption Order in such circumstances. 

(e) The Managing Owner may, in its discretion, suspend the right of redemption, or postpone the “Settlement Time” (as
described in the Procedures), (i) for any period during which the NYSE Arca, Inc. or any exchange on which a Fund’s assets are regularly traded is closed other than for customary weekend or holiday closings, or trading is suspended or
restricted; (ii) for any period during which an emergency exists as a result of which delivery, disposal or evaluation of a Fund’s assets is not reasonably practicable; or (iii) for such other period as the Managing Owner determines
to be necessary for the protection of owners of beneficial interests in Shares (the “Beneficial Owners”). The Managing Owner shall not be liable to any person or in any way for any loss or damages that may result from any such
suspension or postponement. 
 (f) Solely with respect to Creation Orders or Redemption Orders effected through the CNS Clearing
Process, the Authorized Participant, as a Participating Party, hereby authorizes the transmission to the NSCC on behalf of the Authorized Participant by the Transfer Agent such instructions consistent with the instructions issued by the Authorized
Participant. The Authorized Participant agrees to be bound by the terms of such instructions issued and reported to NSCC by the Transfer Agent as though such instructions were issued by the Authorized Participant directly to NSCC. 

Section 4. Fees. In connection with each Order by an Authorized Participant to create or redeem one or more Baskets, the
Authorized Participant agrees to pay the Transaction Fee prescribed in this Agreement and/or the Prospectus (as applicable) with respect to such creation or redemption. The Transaction Fee may be adjusted from time to time as set forth in this
Agreement and/or the Prospectus (as applicable), provided, however, that the Authorized Participant shall be notified of any change in the Transaction Fee in advance of any such change. As described in the Procedures, the Authorized Participant
agrees to pay an additional processing charge if the Authorized Participant fails timely to deliver the Creation Basket Capital Contribution or the Baskets, as the case may be. 

Section 5. Authorized Persons. Concurrently with the execution of this Agreement and from time to time thereafter, the
Authorized Participant shall deliver to the Transfer Agent, duly certified as appropriate by its secretary or other duly authorized person, a certificate in the form of Exhibit A (the “Certificate”) setting forth the names
and signatures of all persons authorized to give instructions relating to activity contemplated hereby or by any other notice, request or instruction given on behalf of the Authorized Participant (each, an “Authorized Person”). The
Transfer Agent may accept and rely upon such Certificate as conclusive evidence of the facts set forth therein and shall consider such Certificate to be in full force and effect until the Transfer Agent receives a superseding Certificate bearing a
subsequent date. Upon the termination or revocation of authority of any Authorized Person by the Authorized Participant, the Authorized Participant shall give prompt written notice of such fact to the Transfer Agent and such notice shall be
effective upon receipt by the Transfer Agent. The Transfer Agent shall issue to each Authorized Person a unique personal identification number (the “PIN Number”) 

  
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by which such Authorized Person shall be identified and by which instructions issued by the Authorized Participant hereunder shall be authenticated. The PIN Number shall be kept confidential by
the Authorized Participant and shall only be provided to the Authorized Person. If, after issuance, the Authorized Person’s PIN Number is changed, the new PIN Number shall become effective on a date mutually agreed upon by the Authorized
Participant and the Transfer Agent. If the Authorized Participant’s PIN Number is compromised in any way, the Authorized Participant shall contact the Transfer Agent immediately in order for a new one to be issued. 

Section 6. Redemption. The Authorized Participant represents and warrants that it shall not obtain a Confirmation Order (as
described in the Procedures) from the Transfer Agent for the purpose of redeeming a Basket unless it first ascertains that (i) it or its customer, as the case may be, owns outright or has full legal authority and legal and beneficial right to
tender for redemption the Baskets to be redeemed and to receive the entire proceeds of the redemption, and (ii) such Baskets have not been loaned or pledged to another party and are not the subject of a repurchase agreement, securities lending
agreement or any other arrangement which would preclude the delivery of such Baskets to the Transfer Agent by no later than the Settlement Time. 
 Section 7. Role of Authorized Participant. (a) The Authorized Participant acknowledges that, for all purposes of this Agreement and the Trust Agreement, the Authorized Participant shall
be deemed to be an independent contractor and shall have no authority to act as agent for the Trust, any Fund or the Managing Owner in any matter or in any respect. 
 (b) The Authorized Participant will make itself and its employees available, upon reasonable request, during normal business hours to consult with the Managing Owner or its designees concerning the
performance of the Authorized Participant’s responsibilities under this Agreement. 
 (c) With respect to any creation or
redemption transaction made by the Authorized Participant pursuant to this Agreement for the benefit of any customer or any other DTC Participant or securities brokers and dealers, banks, trust companies, and clearing corporations that clear through
or maintain a custodial relationship with a DTC Participant (an “Indirect Participant”), or any other Beneficial Owner, the Authorized Participant shall extend to any such party all of the rights, and shall be bound by all of the
obligations, of a DTC Participant in addition to any obligations that it undertakes hereunder or in accordance with the Trust Agreement. 
 (d) Upon reasonable request by the Managing Owner, the Authorized Participant will, subject to any limitations arising under federal or state laws or other obligations it may have to its customers,
provide the Managing Owner written notice indicating the number of Shares that the Authorized Participant may hold as record holder and the number of such Shares that it holds for the benefit of other broker-dealers that clear and settle
transactions in Shares through the Authorized Participant, in each case as of the date of such request, with respect to each Fund. In addition, the Authorized Participant agrees, upon request of the Managing Owner, and subject to applicable laws,
rules and regulations, to transmit to its account holders who are Beneficial Owners of Shares, such written materials received from the Managing Owner (including notices, annual reports, disclosure or other informational or tax materials and any
amendments or supplements thereto and other communications) as may be required to be transmitted to 

  
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Beneficial Owners pursuant to the Trust Agreement or applicable law, provided that the expenses associated with such transmissions shall be borne by the Managing Owner in accordance with usual
custom and practice in respect of such communications. 
 (e) The Authorized Participant agrees that, in connection with any
sales of the Shares, it will not charge a commission to its customers in excess of one percent (1%) of the gross offering proceeds registered under each effective registration statement as provided under the “Plan of Distribution –
General” section of the applicable Prospectus. Such commission may only be charged by a broker-dealer registered as such under the Exchange Act and which is a member of FINRA. 

Section 8. Indemnification. 
 (a) The Authorized Participant hereby indemnifies and holds harmless the Trust, each Fund and the Managing Owner and their respective direct or indirect affiliates (as defined below) and their respective
directors, trustees, managing owners, partners, members, managers, officers, employees and agents (each, an “AP Indemnified Party”) from and against any losses, liabilities, damages, costs and expenses (including reasonable
attorneys’ fees and the reasonable costs of investigation) incurred by such AP Indemnified Party as a result of or in connection with: (i) any breach by the Authorized Participant of any provisions of this Agreement, including its
representations, warranties and covenants; (ii) any failure on the part of the Authorized Participant to perform any of its obligations set forth in this Agreement; (iii) any failure by the Authorized Participant to comply with applicable
laws and the rules and regulations of self-regulatory organizations; (iv) any actions of such AP Indemnified Party in reliance upon any instructions issued in accordance with the Procedures believed by the AP Indemnified Party to be genuine and
to have been given by the Authorized Participant; or (v) (A) any representation by the Authorized Participant, its employees or its agents or other representatives about the Shares, any AP Indemnified Party, the Trust or each Fund that is
not consistent with the Fund’s then-current Prospectus made in connection with the offer or the solicitation of an offer to buy or sell Shares and (B) any untrue statement or alleged untrue statement of a material fact contained in any
research reports, marketing material and sales literature described in Section 12(b) hereof or any alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading to the
extent that such statement or omission relates to the Shares, any AP Indemnified Party or the Funds, unless, in either case, such representation, statement or omission was made or included by the Authorized Participant at the written direction of
the Managing Owner or is based upon any omission or alleged omission by the Managing Owner to state a material fact in connection with such representation, statement or omission necessary to make such representation, statement or omission not
misleading. 
 (b) The Managing Owner hereby agrees to indemnify and hold harmless the Authorized Participant, its respective
subsidiaries, affiliates, directors, officers, employees and agents, and each person, if any, who controls such persons within the meaning of Section 15 of the 1933 Act and Section 20 of the 1934 Act (each, a “Managing Owner
Indemnified Party”) from and against any losses, liabilities, damages, costs and expenses (including reasonable attorneys’ fees and the reasonable cost of investigation) incurred by such Managing Owner Indemnified Party as a result of
(i) any breach by the Managing Owner of any provision of this Agreement that relates to the Managing Owner; (ii) any failure on the part of the Managing 

  
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Owner to perform any obligation of the Managing Owner set forth in this Agreement; (iii) any failure by the Managing Owner to comply with applicable laws; or (iv) any untrue statement
or alleged untrue statement of a material fact contained in the applicable Registration Statement as originally declared effective by the SEC or in any amendment thereof, or in any Prospectus, or in any amendment thereof or supplement thereto, or
arising out of or based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except those statements in the applicable Registration Statement
or the Prospectus based on information furnished in writing by or on behalf of the Authorized Participant expressly for use in such Registration Statement or such Prospectus. 
 (c) This Section 8 shall not apply to the extent any such losses, liabilities, damages, costs and expenses are incurred as a result of or in connection with any gross negligence, bad faith or willful
misconduct on the part of the AP Indemnified Party or the Managing Owner Indemnified Party, as the case may be. The term “affiliate” in this Section 8 shall include, with respect to any person, entity or organization, any other
person, entity or organization which directly, or indirectly through one or more intermediaries, controls, is controlled by or is under common control with such person, entity or organization. 

(d) The indemnity agreements contained in this Section 8 shall remain in full force and effect regardless of any investigation made
by or on behalf of the Authorized Participant, its partners, stockholders, members, directors, officers, employees or any person (including each partner, stockholder, member, director, officer or employee of such person) who controls the Authorized
Participant within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act, or by or on behalf of the Managing Owner, its partners, stockholders, members, managers, directors, officers, employees or any person who controls
the Managing Owner within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act, and shall survive any termination of this Agreement. The Managing Owner, for itself and on behalf of each Fund, Managing Owner Indemnified
Party, and the Authorized Participant agree promptly to notify, to the extent practicable and legally permissible, each other of the commencement of any proceeding against it or any AP Indemnified Party or Managing Owner Indemnified Party, as the
case may be, and, in the case of the Managing Owner, against any of the Managing Owner’s officers or directors, in connection with the issuance and sale of the Shares or in connection with the Registration Statement or the Prospectus.

 Section 9. (a) Limitation of Liability. In the absence of gross negligence, bad faith or willful misconduct, none
of the Managing Owner, whether acting on its own behalf or on behalf of a Fund or the Authorized Participant shall be liable to each other or to any other person, including any party claiming by, through or on behalf of the Authorized Participant,
for any losses, liabilities, damages, costs or expenses arising out of any mistake or error in data or other information provided to any of them by each other or any other person or out of any interruption or delay in the electronic means of
communications used by them. 
 (b) Fund Liability. In accordance with Section 3.8 of the Trust Agreement, the
Authorized Participant agrees and consents (the “Consent”) to look solely to the assets (the “Fund Assets”) of the particular Fund in controversy for payment in respect of any claim against or obligation of such
Fund. The Fund Assets include only those funds and other assets that are paid, held or distributed to the Trust on account of and for the benefit of that particular Fund, including, 

  
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without limitation, funds delivered to the Trust for the purchase of Shares in such Fund. In furtherance of the Consent, the Authorized Participant agrees that any debts, liabilities,
obligations, indebtedness, expenses and claims of any nature and of all kinds and descriptions (collectively, “Claims”) against a Fund incurred, contracted for or otherwise existing shall be subject to the following limitations:

 1. The Claims of the Authorized Participant shall only be asserted and enforceable against a particular Fund and the Fund
Assets of such Fund and such Claims shall not be asserted or enforceable for any reason whatsoever against any other Fund, the Trust generally or any of their respective assets; 

2. if the Claims of the Authorized Participant against a Fund or the Trust are secured in whole or in part, the Authorized Participant
hereby waives (under Section 1111(b) of the Bankruptcy Code (11 U.S.C. § 1111(b)) any right to have any deficiency Claims (which deficiency Claims may arise in the event such security is inadequate to satisfy such Claims) treated as
unsecured Claims against the Trust or any Fund (other than the Fund against which the Claim is made), as the case may be; and 

3. the foregoing Consent shall apply at all times notwithstanding that the Claims are satisfied and notwithstanding that the agreements in
respect of such Claims are terminated, rescinded or canceled. 
 (c) Tax Liability. The Authorized Participant shall be
responsible for the payment of any transfer tax, sales or use tax, stamp tax, recording tax, value added tax and any other similar tax or government charge applicable to the creation or redemption of any Basket made pursuant to this Agreement,
regardless of whether or not such tax or charge is imposed directly on the Authorized Participant. To the extent the Managing Owner, the Trust or any Fund is required by law to pay any such tax or charge, the Authorized Participant agrees to
promptly indemnify such party for any such payment, together with any applicable penalties, additions to tax or interest thereon. 
 Section 10. Obtaining a Copy of the Prospectus/Disclosure Document. The Authorized Participant has obtained a copy of the applicable Fund’s Prospectus which constitutes its CFTC
Disclosure Document from the Trust’s website at www.stream.bnpparibas.com. 
 Section 11. Effectiveness and
Termination. Upon the execution of this Agreement by the parties hereto, this Agreement shall become effective in this form as of the date first set forth above, and may be terminated at any time by any party upon thirty (30) days prior
written notice to the other parties unless earlier terminated: (i) in accordance with Section 2(a) hereof; (ii) upon notice to the Authorized Participant by the Managing Owner in the event of a material breach by the Authorized
Participant of this Agreement or the procedures described or incorporated herein; (iii) immediately in the circumstances described in Section 17(j) hereof; or (iv) at such time as a Trust is terminated pursuant to the Trust Agreement.
For avoidance of doubt, the termination of this Agreement with respect to one Fund does not affect the status of this Agreement with respect to the other Funds. 

  
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 Section 12. Certain Representations, Warranties and Covenants of the Authorized
Participant. 
 (a) The Authorized Participant represents, warrants and covenants that, without the written consent of the
Managing Owner, the Authorized Participant shall not (i) make, or permit any of its representatives to make, any representations concerning the Shares or any AP Indemnified Party other than representations contained (A) in the then-current
Prospectus of the applicable Fund, (B) in printed information approved by the Managing Owner as information supplemental to such Prospectus, (C) in any promotional materials or sales literature furnished to the Authorized Participant by
the Managing Owner, or (D) other information and materials filed by a Trust with the SEC or made available on any website controlled by the Managing Owner or the applicable Fund, and (ii) furnish or cause to be furnished to any person or
display or publish any information or material relating to the Shares, any AP Indemnified Party or any Fund that are not consistent with such Fund’s then current Prospectus. The then current Prospectus of the applicable Fund at
www.stream.bnpparibas.com and on the SEC’s Next Generation EDGAR System and any copies of any such printed supplemental information or amendments thereto will be supplied by, or caused to be supplied by, the Managing Owner to the
Authorized Participant in reasonable quantities upon request. 
 (b) Notwithstanding the foregoing, the Authorized Participant
may without the approval of the Managing Owner or any Fund prepare and circulate in the regular course of its business research reports, marketing material and sales literature that includes information, opinions or recommendations relating to the
Shares (i) for public dissemination, provided that such research reports, marketing material or sales literature comply with all applicable laws, rules and regulations; and (ii) for internal use by the Authorized Participant. The
Authorized Participant shall file all such research reports, marketing material and sales literature related to the Shares with FINRA to the extent required by the FINRA Conduct Rules. 

(c) The Authorized Participant hereby agrees that for the term of this Agreement the Managing Owner may deliver, the then-current
Prospectus, and any supplements or amendments thereto or recirculation thereof, to the Authorized Participant in Portable Document Format (“PDF”) via electronic mail. The Authorized Participant acknowledges that it has the
capability to access, view, save and print material provided to it in PDF and that it will incur no appreciable extra costs by receiving the Prospectus in PDF instead of in paper form. 

(d) For as long as this Agreement is effective, the Authorized Participant agrees to be identified as an authorized participant of the
applicable Fund (i) in the section of the applicable Prospectus entitled “Creation and Redemption of Shares” and in any other section as may be required by the SEC and/or any other applicable regulator and (ii) on each applicable
Fund’s website. Upon the termination of this Agreement, (i) the Managing Owner shall remove such identification from the applicable Prospectus in the amendment of either the applicable Registration Statement or a supplement to the
applicable Prospectus, as applicable, next occurring after the date of the termination of this Agreement and (ii) the Managing Owner shall promptly update each applicable Fund’s website to remove any identification of the Authorized
Participant as an authorized participant of the applicable Fund. 

  
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 Section 13. Certain Representations, Warranties and Covenants of the Managing
Owner. The Managing Owner, on its own behalf and in its capacity as the managing owner of the Trust and each of the Funds, covenants and agrees: 
 (a) that (i) it has taken all actions necessary to execute this Agreement; (ii) the person(s) executing this Agreement on its behalf has been duly authorized to do so; (iii) the applicable
Registration Statements and the Prospectuses contained therein conform in all material respects to the requirements of the 1933 Act and the CEA and the rules and regulations of the SEC and the CFTC thereunder and do not and will not, as of the
applicable effective date as to each of the applicable Registration Statements and any amendments thereto and as of the applicable filing date as to each of the Prospectuses and any amendments or supplements thereto, contain any untrue statement of
a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, (iv) the sale and distribution of the Shares
as contemplated herein will not conflict with or result in a breach or violation of any statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction over the Managing Owner, the Trust or any of the
applicable Funds, and (v) no consent, approval, authorization, order, registration or qualification of or with any such court or governmental agency is required for the issuance of the Shares, except registration of the Shares under the 1933
Act; and 
 (b) to notify the Authorized Participant promptly of the happening of any event during the term of this Agreement
which could require the making of any change in any Prospectus then being used so that the Prospectus would not include an untrue statement of material fact or omit to state a material fact necessary to make the statements therein, in the light of
the circumstances under which they are made, not misleading, and, during such time, to prepare and furnish, at the expense of each Fund, as applicable, to the Authorized Participant promptly such amendments or supplements to such Prospectus as may
be necessary to reflect any such change. 
 In addition, any certificate signed by any officer of the Managing Owner and
delivered to the Authorized Participant or counsel for the Authorized Participant pursuant hereto shall be deemed to be a representation and warranty by the Managing Owner to the Authorized Participant as to matters covered thereby. 

Section 14. Third Party Beneficiaries. Each AP Indemnified Party, to the extent it is not a party to this Agreement, is a
third-party beneficiary of this Agreement (each, a “Third Party Beneficiary”) and may proceed directly against the Authorized Participant (including by bringing proceedings against the Authorized Participant in its own name) to
enforce any obligation of the Authorized Participant under this Agreement which directly or indirectly benefits such Third Party Beneficiary. 
 Section 15. Force Majeure. No party to this Agreement shall incur any liability for any delay in performance, or for the non-performance, of any of its obligations under this Agreement by
reason of any cause beyond its reasonable control. This includes any Act of God or war or terrorism, any breakdown, malfunction or failure of transmission in connection with or other unavailability of any wire, communication or computer facilities,
any transport, port, or airport 

  
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disruption, industrial action, acts and regulations and rules of any governmental or supra-national bodies or authorities or regulatory or self-regulatory organization or failure of any such
body, authority or organization for any reason to perform its obligations. 
 Section 16. Ambiguous Instructions. If
a Creation Order otherwise in good form contains order terms that differ from the information provided in the telephone call at the time of issuance of the applicable Order Number, the Transfer Agent will attempt to contact one of the Authorized
Persons of the Authorized Participant to request confirmation of the terms of the Order. If an Authorized Person confirms the terms as they appear in the Order, then the Order shall be accepted and processed. If an Authorized Person contradicts the
Order terms, the Order shall be deemed invalid, and a corrected Order must be received by the Transfer Agent not later than the earlier of: (i) within 15 minutes of such contact with the Authorized Person; or (ii) 45 minutes after the
Order Cut-Off Time. If the Transfer Agent is not able to contact an Authorized Person, then the Order shall be accepted and processed in accordance with its terms notwithstanding any inconsistency with the terms of the telephone information. In the
event that an Order contains terms that are illegible, the Order shall be deemed invalid and the Transfer Agent will attempt to contact one of the Authorized Persons of the Authorized Participant to request retransmission of the Order. A corrected
Order must be received by the Transfer Agent not later than the earlier of (i) within 15 minutes of such contact with the Authorized Person or (ii) 45 minutes after the Order Cut-Off Time, as the case may be. 

Section 17. Miscellaneous. 
 (a) Amendment and Modification. This Agreement, the Procedures attached as Attachment A, the Schedules, and the Exhibits hereto may be amended, modified or supplemented by the Managing
Owner, without consent of any Beneficial Owner or Authorized Participant from time to time by the following procedure. After the proposed amendment, modification or supplement has been agreed to by the Managing Owner, the Managing Owner shall mail a
copy of the proposed amendment, modification or supplement to the Authorized Participant. For the purposes of this Agreement, mail shall be deemed received by the recipient thereof on the third (3rd) day following the deposit of such mail into the United States
postal system. Within ten (10) calendar days after its deemed receipt, the amendment, modification or supplement will become part of this Agreement, the Attachments, the Schedules, or the Exhibits, as the case may be, in accordance with its
terms. 
 (b) Waiver of Compliance. Any failure of any of the parties to comply with any obligation, covenant, agreement
or condition herein may be waived by the party entitled to the benefits thereof only by a written instrument signed by the party granting such waiver, but any such written waiver, or the failure to insist upon strict compliance with any obligation,
covenant, agreement or condition herein, shall not operate as a waiver of, or estoppel with respect to, any subsequent or other failure. 
 (c) Notices. Except as otherwise specifically provided in this Agreement, all notices required or permitted to be given pursuant to this Agreement shall be given in writing and delivered by
personal delivery, by postage prepaid registered or certified United States first class mail, return receipt requested, by nationally recognized overnight courier (delivery confirmation received) or by telex, electronic mail, telegram or telephonic
facsimile or similar means of same 

  
 11 

 
day delivery (transmission confirmation received), with a confirming copy by regular mail, postage prepaid. Unless otherwise notified in writing, all notices to the Trust or any Fund shall be
given or sent to the Managing Owner. All notices shall be directed to the address or telephone or facsimile numbers or electronic mail addresses indicated below the signature line of the parties on the signature page hereof. 

(d) Successors and Assigns. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the
parties and their respective successors and permitted assigns. 
 (e) Assignment. Neither this Agreement nor any of the
rights, interests or obligations hereunder shall be assigned by any party without the prior written consent of the other parties, except that any entity into which a party hereto may be merged or converted or with which it may be consolidated or any
entity resulting from any merger, conversion, or consolidation to which such party hereunder shall be a party, or any entity succeeding to all or substantially all of the business of the party, shall be the successor of the party under this
Agreement and except that the Managing Owner may delegate its obligations hereunder to the Marketing Agent or the Administrator by notice to the Authorized Participant. The party resulting from any such merger, conversion, consolidation or
succession shall notify the other parties hereto of the change. Any purported assignment in violation of the provisions hereof shall be null and void. Notwithstanding the foregoing, this Agreement shall be automatically assigned to any successor
trustee or Managing Owner at such time such successor qualifies as a successor trustee or Managing Owner under the terms of the Trust Agreement. 
 (f) Governing Law; Consent to Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware (regardless of the laws that might otherwise
govern under applicable Delaware conflict of laws principles) as to all matters, including matters of validity, construction, effect, performance and remedies. Each party hereto irrevocably consents to the jurisdiction of the courts of the State of
New York and of any federal court located in the Borough of Manhattan in such State in connection with any action, suit or other proceeding arising out of or relating to this Agreement or any action taken or omitted hereunder, and waives any claim
of forum non conveniens and any objections as to laying of venue. Each party further waives personal service of any summons, complaint or other process and agrees that service thereof may be made by certified or registered mail directed to such
party at such party’s address for purposes of notices hereunder. 
 (g) Counterparts. This Agreement may be executed
in one or more counterparts, each of which shall be deemed to be an original copy of this Agreement and all of which, when taken together, shall be deemed to constitute one and the same agreement, and it shall not be necessary in making proof of
this Agreement as to any party hereto to produce or account for more than one such counterpart executed and delivered by such party. 
 (h) Interpretation. The section headings contained in this Agreement are solely for the purpose of reference, are not part of the agreement of the parties and shall not in any way affect the
meaning or interpretation of this Agreement. 

  
 12 

 (i) Entire Agreement. This Agreement and the Trust Agreement, along with any other
agreement or instrument delivered pursuant to this Agreement and the Trust Agreement, supersede all prior agreements and understandings between the parties with respect to the subject matter hereof, provided, however, that the Authorized Participant
shall not be deemed by this provision to be a party to the Trust Agreement. 
 (j) Severance. If any provision of this
Agreement is held by any court or any act, regulation, rule or decision of any other governmental or supra-national body or authority or regulatory or self-regulatory organization to be invalid, illegal or unenforceable for any reason, it shall be
invalid, illegal or unenforceable only to the extent so held and shall not affect the validity, legality or enforceability of the other provisions of this Agreement and this Agreement shall be construed as if such invalid, illegal, or unenforceable
provision had never been contained herein, unless the Managing Owner determines in its discretion that the provision of this Agreement that was held invalid, illegal or unenforceable does affect the validity, legality or enforceability of one or
more other provisions of this Agreement, and that this Agreement should not be continued without the provision that was held invalid, illegal or unenforceable, and in that case, upon the Managing Owner’s notification of the trustee of such a
determination, this Agreement shall immediately terminate and the Managing Owner shall so notify the Authorized Participant immediately. 
 (k) No Strict Construction. The language used in this Agreement shall be deemed to be the language chosen by the parties to express their mutual intent, and no rule of strict construction shall be
applied against any party. 
 (l) Survival. Sections 8 (Indemnification) and 14 (Third Party Beneficiaries) hereof shall
survive the termination of this Agreement. 
 (m) Other Usages. The following usages shall apply in interpreting this
Agreement: (i) references to a governmental or quasi-governmental agency, authority or instrumentality shall also refer to a regulatory body that succeeds to the functions of such agency, authority or instrumentality; and
(ii) “including” means “including, but not limited to.” 
 [Signature Page Follows] 

  
 13 

 IN WITNESS WHEREOF, the Authorized Participant and the Managing Owner, on behalf of itself,
the Trust and each Fund, have caused this Agreement to be executed by their duly authorized representatives as of the date first set forth above. 
  

									
	 BNP Paribas Quantitative Strategies, LLC,
 on behalf of itself and as Managing Owner of STREAM S&P Dynamic Roll Global Commodities Fund
	 		 	STREAM Exchange Traded Trust, with respect to STREAM S&P Dynamic Roll Global Commodities Fund, a series of the Trust
		 		 		 	 By:    BNP Paribas Quantitative Strategies, LLC, as Managing Owner of STREAM S&P Dynamic
Roll Global Commodities Fund

					
	By:	 	  
	 		 	By:	 	  

					
	Name:	 	  
	 		 	Name:	 	  

					
	Title:	 	  
	 		 	Title:	 	  

					
	By:	 	  
	 		 	By:	 	  

					
	Name:	 	  
	 		 	Name:	 	  

					
	Title:	 	  
	 		 	Title:	 	  

					
	Address:	 		 		 	Address:	 	
					
	Telephone:	 		 		 	Telephone:	 	
					
	Facsimile:	 		 		 	Facsimile:	 	
			
	E-mail:                          
                                      	 		 	E-mail:                          
                                      
				
	[Name of Authorized Participant]	 		 		 	
					
	By:	 	  
	 		 		 	
					
	Name:	 	  
	 		 		 	
					
	Title:	 	  
	 		 		 	
					
	Address:	 	  
	 		 		 	
					
	Telephone:	 	  
	 		 		 	
					
	Facsimile:	 	  
	 		 		 	
				
	E-mail:                          
                                      	 		 		 	

 SCHEDULE A 
 NAMES OF FUNDS 
 STREAM S&P Dynamic Roll Global Commodities Fund, a series of STREAM
Exchange Traded Trust 

  
 Schedule A-1

 EXHIBIT A 
 STREAM EXCHANGE TRADED TRUST 
 FORM OF CERTIFIED AUTHORIZED PERSONS OF
AUTHORIZED PARTICIPANT 
 The following are the names, titles and signatures of all persons (each an “Authorized
Person”) authorized to give instructions to the Managing Owner or its delegates relating to any activity contemplated by the Participant Agreement or any other notice, request or instruction on behalf of the Authorized Participant pursuant
to the STREAM Exchange Traded Trust Participant Agreement. 
  

					
	Authorized Participant:	 	  
	 	

  

									
	Name:	 	  
	 		 	Name:	 	  

					
	Title:	 	  
	 		 	Title:	 	  

					
	Signature:	 	  
	 		 	Signature:	 	  

					
	Name:	 	  
	 		 	Name:	 	  

					
	Title:	 	  
	 		 	Title:	 	  

					
	Signature:	 	  
	 		 	Signature:	 	  

 The undersigned, [-], does hereby certify that the persons listed above have been duly elected to the
offices set forth beneath their names, that they presently hold such offices, that they have been duly authorized to act as Authorized Persons and make the necessary deliveries pursuant to the STREAM Exchange Traded Trust Participant Agreement by
and between [-], STREAM Exchange Traded Trust with respect to each of STREAM [-] Fund and BNP Paribas Quantitative Strategies, LLC, dated
                     [date], and that their signatures set forth above are their own true and genuine signatures. 

 

			
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

		
	Date:	 	  

  
 A-1

 EXHIBIT B 
 STREAM EXCHANGE TRADED TRUST 
 FORM OF CREATION ORDER 

TRUSTEE, THE BANK OF NEW YORK MELLON 718-315-7500 
  

									
	 Authorized Participant:
	 	  
	 		  	DTC Clearing #:	 	  

					
	Authorized Participant FAX No.#:	 	  
	 		  	Trade Date:	 	  

					
	 Order Number:
	 	  
	 		  	Number of CU’s Created:	 	  

					
	 Name of Fund:
	 	
STREAM                   
               Fund
	 		  	Number of Shares to be issued:	 	  

  

									
	 USD:
	  	  
	  		  	
		  	(to be provided by The Bank of New York Mellon)	  	

 All Creation Orders are subject to the terms and conditions of the Fourth Amended and Restated Declaration of Trust and
Trust Agreement, as amended from time to time (the “Trust Agreement”) of STREAM Exchange Traded Trust (the “Trust”) as currently in effect, which established and designated STREAM [-] Fund and STREAM [-] Fund
(collectively, the “Funds”), each as a separate series of the Trust and the STREAM Exchange Traded Trust Participant Agreement among the Authorized Participant, the Trust with respect to each of the Funds and the Managing Owner
named therein (the “Participant Agreement”). All representations and warranties of the Authorized Participant set forth in the Participant Agreement are incorporated herein by reference. Capitalized terms used but not defined herein
have the meaning given in the Trust Agreement. 
 The undersigned understands that by submitting this Creation Order he/she is making the
representations and warranties set forth in the Annex to this Creation Order and is also granting an irrevocable Power of Attorney. The undersigned understands that its DTC account will be charged the Transaction Fee as set forth in the currently
effective copy of the Prospectus. 
 The undersigned does hereby certify as of the date set forth below that he/she is an Authorized Person
under the Participant Agreement and that he/she is authorized to deliver this Creation Order to the Managing Owner or its delegate on behalf of the Authorized Participant. 

 

							
		 		 	  

		 		 	 (Please Print Name of Authorized
 Participant)

				
	Date:                             
     	 		 		 	
				
		 		 	By:	 	  

	Accepted by:	 		 		 	Name:
	 STREAM Exchange Traded Trust, with respect to
	 		 		 	Title:
	STREAM [                    ] Fund	 		 		 	

			
	By:	 	 BNP Paribas Quantitative Strategies, LLC,
 as Managing Owner

		
	By:	 	  

		 	Name:
		 	Title:
		
	By:	 	  

		 	Name:
		 	Title:

  
 B-1

 ANNEX TO EXHIBIT B 

TO 

CREATION ORDER 
 PURCHASER’S REPRESENTATIONS AND WARRANTIES AND 
 POWER OF ATTORNEY

 1. CFTC Registration Status. The Authorized Participant either is not required to be registered with the
Commodity Futures Trading Commission (“CFTC”) or to be a member of the National Futures Association (“NFA”), or, if required to be so registered, is duly registered with the CFTC and is a member in good standing of
the NFA. The Authorized Participant agrees to supply the Managing Owner with such information as the Managing Owner may reasonably request in order to verify the foregoing representation. Vehicles for collective investment which acquire Shares
may, as a result, themselves become “commodity pools” within the intent of applicable CFTC and NFA rules, and their sponsors, accordingly, will be required to register as “commodity pool operators.” 

2. Disclosure Document. The Authorized Participant has obtained a copy of each Fund’s Prospectus which constitutes its
CFTC Disclosure Document from the Trust’s website www.stream.bnpparibas.com. 
 3. Monthly and Annual
Report. If trading for a Fund has commenced, the Authorized Participant has obtained a copy of the most recent monthly and annual, as applicable, report from the applicable Fund’s website at www.stream.bnpparibas.com. 

4. Power of Attorney. In connection with the Authorized Participant’s acceptance of an interest in a Fund, the
Authorized Participant does hereby irrevocably constitute and appoint the Managing Owner, and its successors and assigns, as its true and lawful Attorney-in-Fact, with full power of substitution, in my name, place and stead, in the execution,
acknowledgment, filing and publishing of Trust or Fund documents, including, but not limited to, the following: (i) Any certificates and other instruments, including but not limited to, any applications for authority to do business and
amendments thereto, which the Managing Owner deems appropriate to qualify or continue the Trust as a business or statutory trust in the jurisdictions in which the Trust may conduct business, so long as such qualifications and continuations are in
accordance with the terms of the Fourth Amended and Restated Declaration of Trust and Trust Agreement of the Trust, as amended from time to time (the “Trust Agreement”) or any amendment hereto, or which may be required to be filed
by the Trust, a Fund or the Shareholders of a Fund under the laws of any jurisdiction; (ii) Any instrument which may be required to be filed by the Trust under the laws of any state or by any governmental agency, or which the Managing Owner
deems advisable to file; and (iii) The Trust Agreement and any documents which may be required to effect an amendment to the Trust Agreement approved under the terms of the Trust Agreement, and the continuation of the Trust, the admission of
the signer of the Power of Attorney as a Limited Owner of a Fund or of others as additional or substituted Limited Owners, or the termination of the Trust, provided such continuation, admission or termination is in accordance with the terms of the
Trust Agreement. The Power of Attorney granted hereby shall be deemed to be coupled with an interest and shall be irrevocable and shall survive, and shall not be affected by, the Authorized Participant’s subsequent insolvency or dissolution or
any delivery by the Authorized Participant of an assignment of the whole or any portion of the Authorized Participant’s units. 

  
 B-2

 EXHIBIT C 
 FORM OF REDEMPTION ORDER 
  
 Authorized Participant:
                                         
            
 Date:
                                         
                                         
           
 Name of Fund: STREAM
                    Fund 

Submission Number:
                                         
                        

PIN Number:
                                         
                                    

Number of Shares to be Redeemed:
                                         
        
 All Redemption Orders are subject to the terms and conditions of the Fourth Amended and
Restated Declaration of Trust and Trust Agreement of STREAM Exchange Traded Trust, as amended from time to time (the “Trust”) as currently in effect and the STREAM Exchange Traded Trust Participant Agreement among the Authorized
Participant, the Trust with respect to the Fund, among others, each a series of the Trust (the “Fund”), and the Managing Owner named therein (the “Participant Agreement”). All representations and warranties of the
Authorized Participant set forth in such Participant Agreement are incorporated herein by reference. 
 The undersigned understands that its DTC
account will be charged the Transaction Fee as set forth in the currently effective copy of the Prospectus including an additional fee as provided under Section 4 of the Participant Agreement if the Redemption Order is held open. 

The undersigned does hereby certify as of the date set forth below that he/she is an Authorized Person under the Participant Agreement and that he/she is
authorized to deliver this Redemption Order to the Managing Owner on behalf of the Authorized Participant. 
  

									
	Date:	 	  
	 		 	By:	 	  

		 		 		 		 	Name:
		 		 		 		 	Title:

  
 C-1

 EXHIBIT D 
 OFFICERS’ CERTIFICATE 
 The undersigned, each a duly authorized
officer of BNP Paribas Quantitative Strategies, LLC, a Delaware limited liability company (the “Managing Owner”), the managing owner of STREAM Exchange Traded Trust (the “Trust”), a Delaware statutory trust with
separate series, including [-] (each a “Fund” and collectively, the: “Funds”), and pursuant to Section 13(c) of the STREAM Exchange Traded Trust Participant Agreement (the “Agreement”), dated
as of             , 20        , as amended from time to time, by and among the Managing Owner, the Trust with respect to each of the Funds and [-]
(the “Authorized Participant”), hereby certify that: 
  

	 	1.	Each of the following representations and warranties of the Managing Owner is true and correct in all material respects as of the date hereof: 

 

	 	(a)	the Registration Statement and the Prospectus comply in all material respects with the requirements of the 1933 Act; any statutes, regulations, contracts or other
documents that are required to be described in the Registration Statement or the Prospectus or to be filed as exhibits to the Registration Statement have been so described or filed; the conditions to the use of the currently effective registration
statement have been satisfied; and the Registration Statement does not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading and the
Prospectus does not contain an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; provided, however, that the
Managing Owner makes no warranty or representation with respect to any statement contained in the Registration Statement or any Prospectus in reliance upon and in conformity with information concerning the Authorized Participant and furnished in
writing by or on behalf of the Authorized Participant to the Managing Owner expressly for use in the Registration Statement or such Prospectus; 

  

	 	(b)	the Trust has been duly formed and is validly existing as a statutory trust under the laws of the State of Delaware, as described in the Registration Statement and the
Prospectus, and the Fourth Amended and Restated Declaration of Trust and Trust Agreement, as amended from time to time (the “Trust Agreement”) authorizes the Managing Owner to issue and deliver the Shares of any Fund to the
Authorized Participant hereunder as contemplated in the Registration Statement and the Prospectus and each Fund is validly existing as a series of the Trust, a statutory trust under the Delaware Statutory Trust Act, as described in the Registration
Statement and the Prospectus; 

  
 D-1

	 	(c)	the Managing Owner has been duly formed and is validly existing as a limited liability company in good standing under the laws of the State of Delaware, with full power
and authority to conduct its business as described in the Registration Statement and the Prospectus, and has all requisite power and authority to execute and deliver the Agreement; 

 

	 	(d)	the Managing Owner is duly qualified and is in good standing in each jurisdiction where the conduct of its business requires such qualification;

  

	 	(e)	complete and correct copies of the Trust Agreement, and any and all amendments thereto, have been delivered to the Authorized Participant, and no changes thereto have
been made; 

  

	 	(f)	the outstanding Shares have been duly and validly issued and, subject to the obligations of a shareholder to make certain payments provided for in the Trust Agreement,
are fully paid and non-assessable beneficial interest in a Fund and free of statutory and contractual preemptive rights, rights of first refusal and similar rights; 

 

	 	(g)	the Shares conform in all material respects to the description(s) thereof contained in the applicable Registration Statements and the Prospectuses and the holders of
the Shares of any Fund will not be subject to personal liability by reason of being such holders; 

  

	 	(h)	the Agreement has been duly authorized, executed and delivered by the Trust and the Managing Owner and constitutes the valid and binding obligations of the Trust, on
behalf of each Fund and the Managing Owner, enforceable against each Fund and the Managing Owner in accordance with its terms; 

  

	 	(i)	 neither the Managing Owner nor the Trust (on behalf of itself or any Fund) is in breach or violation of or in default under (nor has any event occurred
which with notice, lapse of time or both would result in any breach or violation of, constitute a default under or give the holder of any indebtedness (or a person acting on such holder’s behalf) the right to require the repurchase, redemption
or repayment of all or a part of such indebtedness under) its respective constitutive documents, or any indenture, mortgage, deed of trust, bank loan or credit agreement or other evidence of indebtedness, or any license, lease, contract or other
agreement or instrument to which the Managing Owner or the Trust (on behalf of itself or any Fund) is a party or by which any of them or any of their properties may be bound or affected, and the execution, delivery and performance of the Agreement,
the issuance and sale of Shares to the Authorized Participant thereunder and the consummation of the transactions contemplated hereby do not and will not conflict with, result in any breach or violation of or constitute a default under (nor
constitute any event which with notice, lapse of time or both would result in any 

  
 D-2

	 	
breach or violation of or constitute a default under), respectively, the limited liability company agreement of the Managing Owner or the Trust Agreement, or any indenture, mortgage, deed of
trust, bank loan or credit agreement or other evidence of indebtedness, or any license, lease, contract or other agreement or instrument to which the Managing Owner or the Trust (on behalf of itself or any Fund) is a party or by which, respectively,
the Managing Owner or the Trust or any of their respective properties may be bound or affected, or any federal, state, local or foreign law, regulation or rule or any decree, judgment or order applicable to the Managing Owner or the Trust;

  

	 	(j)	no approval, authorization, consent or order of or filing with any federal, state, local or foreign governmental or regulatory commission, board, body, authority or
agency is required in connection with the issuance and sale of Shares to the Authorized Participant hereunder or the consummation by the Managing Owner or the Trust or any of the Funds of the transactions contemplated hereunder other than
registration of the Shares under the 1933 Act and the filings with the National Futures Association and the Financial Industry Regulatory Authority (“FINRA”), which have been effected; 

 

	 	(k)	except as set forth in the Registration Statement and the Prospectus (i) no person has the right, contractual or otherwise, to cause the Trust to issue or sell to
it any Shares or other equity interests of any Fund, and (ii) no person has the right to act as an underwriter or as a financial advisor to any Fund in connection with the offer and sale of the Shares, in the case of each of the foregoing
clauses (i), and (ii), whether as a result of the filing or effectiveness of the Registration Statement or the sale of the Shares as contemplated thereby or otherwise; no person has the right, contractual or otherwise, to cause the Managing Owner on
behalf of the Trust or the Trust to register under the 1933 Act any other equity interests of any Fund, or to include any such Shares or interests in the Registration Statement or the offering contemplated thereby, whether as a result of the filing
or effectiveness of the Registration Statement or the sale of the Shares as contemplated thereby or otherwise; 

  

	 	(l)	each of the Managing Owner, the Trust and each of the applicable Funds has all necessary licenses, authorizations, consents and approvals and has made all necessary
filings required under any federal, state, local or foreign law, regulation or rule, and has obtained all necessary authorizations, consents and approvals from other persons, in order to conduct its respective business; neither the Managing Owner
nor the Trust or any of the applicable Funds is in violation of, or in default under, or has received notice of any proceedings relating to revocation or modification of, any such license, authorization, consent or approval or any federal, state,
local or foreign law, regulation or rule or any decree, order or judgment applicable to the Managing Owner, the Trust or any of the applicable Funds; 

  
 D-3

	 	(m)	all legal or governmental proceedings, affiliate transactions, off-balance sheet transactions, contracts, licenses, agreements, leases or documents of a character
required to be described in the Registration Statement or the Prospectus or to be filed as exhibits to the Registration Statement have been so described or filed as required; 

 

	 	(n)	except as set forth in the Registration Statement and the Prospectus, there are no actions, suits, claims, investigations or proceedings pending or threatened or
contemplated to which the Managing Owner, the Trust or any of the applicable Funds, or any of the Managing Owner’s directors, members, managers, or officers, affiliates or controlling persons is or would be a party or of which any of their
respective properties are or would be subject at law or in equity, before or by any federal, state, local or foreign governmental or regulatory commission, board, body, authority or agency; 

 

	 	(o)	[-], whose report on the audited financial statements of the Trust and the applicable Funds is filed with the SEC either as part of the Registration Statements and the
Prospectuses of the applicable Funds or incorporated by reference into the applicable Registration Statements and the Prospectuses, are independent public accountants as required by the 1933 Act; 

 

	 	(p)	the audited financial statement(s) included or incorporated by reference in the Prospectuses, together with the related notes and schedules, presents fairly the
financial position of the Trust and each of the Funds as of the date indicated and has been prepared in compliance with the requirements of the 1933 Act and in conformity with generally accepted accounting principles; there are no financial
statements (historical or pro forma) that are required to be included or incorporated by reference in any of the Registration Statements and the Prospectuses that are not included or incorporated by reference as required; and the none of the
applicable Funds have any material liabilities or obligations, direct or contingent (including any off-balance sheet obligations), not disclosed or incorporated by reference in the applicable Registration Statements and the Prospectuses;

  

	 	(q)	 subsequent to the respective dates as of which information is given in the applicable Registration Statements and the Prospectuses, there has not been
(i) any material adverse change, or any development involving a prospective material adverse change affecting the Managing Owner, the Trust or the applicable Fund(s), (ii) any transaction which is material to the Managing Owner, the Trust
or the applicable Fund(s) taken as a whole, other than transactions in the ordinary course of business (iii) any 

  
 D-4

	 	
obligation, direct or contingent (including any off-balance sheet obligations), incurred by the Managing Owner or the Trust (on its own behalf, or on behalf of any Fund), which is material to
such applicable Fund, other than obligations incurred in the ordinary course of business; 

  

	 	(r)	none of the Funds is or, after giving effect to the offering and sale of the Shares, will be required to be registered as an investment company under the Investment
Company Act of 1940, as amended (the “Investment Company Act”); 

  

	 	(s)	except as set forth in the applicable Registration Statements and the Prospectuses, the Managing Owner, the Trust and each of the applicable Funds own, or have obtained
valid and enforceable licenses for, or other rights to use, the inventions, patent applications, patents, trademarks (both registered and unregistered), tradenames, copyrights, trade secrets and other proprietary information described in the
applicable Registration Statements and the Prospectuses as being owned or licensed by them or which are necessary for the conduct of their respective businesses, (collectively, “Intellectual Property”); (i) to the knowledge of
the Managing Owner, the Trust and the applicable Funds, there are no third parties who have or will be able to establish rights to any Intellectual Property, except for the ownership rights of the owners of the Intellectual Property which is
licensed to the Managing Owner, the Trust or the applicable Funds; (ii) to the knowledge of the Managing Owner, the Trust or the applicable Funds, there is no infringement by third parties of any Intellectual Property; (iii) there is no
pending or, to the knowledge of the Managing Owner, the Trust or the applicable Funds, threatened action, suit, proceeding or claim by others challenging the Managing Owner’s, the Trust’s or the applicable Funds’ rights in or to any
Intellectual Property, and the Managing Owner, the Trust and the applicable Funds are unaware of any facts which could form a reasonable basis for any such claim; (iv) there is no pending or, to the knowledge of the Managing Owner, the Trust or
the applicable Funds, threatened action, suit, proceeding or claim by others challenging the validity or scope of any Intellectual Property, and the Managing Owner, the Trust and the applicable Funds are unaware of any facts which could form a
reasonable basis for any such claim; and (v) there is no pending or, to the knowledge of the Managing Owner, the Trust or any of the applicable Funds, threatened action, suit, proceeding or claim by others alleging that the Managing Owner, the
Trust or any of the applicable Funds infringes or otherwise violates any patent, trademark, copyright, trade secret or other proprietary rights of others, and the Managing Owner, the Trust and the are unaware of any facts which could form a
reasonable basis for any such claim; 

  

	 	(t)	 all tax returns required to be filed by the Trust with respect to the Funds have been filed, and all taxes and other assessments of a similar nature
(whether imposed directly or through withholding) including any interest, 

  
 D-5

	 	
additions to tax or penalties applicable thereto due or claimed to be due from such entities have been paid; and no tax returns or tax payments are due with respect to any applicable Fund as of
the date of the Agreement; 

  

	 	(u)	none of the Managing Owner, the Trust or any of the Funds has sent or received any communication regarding termination of, or intent not to renew, any of the contracts
or agreements referred to or described in, or filed as an exhibit to, any of the applicable Registration Statements, and no such termination or non-renewal has been threatened by the Managing Owner, the Trust, any of the applicable Funds or any
other party to any such contract or agreement; 

  

	 	(v)	with respect to its activities on behalf of each Fund, as provided for in the Trust Agreement, the Managing Owner maintains a system of internal accounting controls
sufficient to provide reasonable assurance that (i) transactions are executed in accordance with the Trust Agreement and the Managing Owner’s duties thereunder; (ii) transactions with respect to each Fund are recorded as necessary to
permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain accountability for assets; and (iii) assets are held for each Fund in accordance with the Trust Agreement;

  

	 	(w)	on behalf of the Trust and each of the Funds, the Managing Owner has established and maintains disclosure controls and procedures (as such term is defined in Rule
13a-14 and 15d-14 under the 1934 Act, giving effect to the rules and regulations, and SEC staff interpretations (whether or not public), thereunder)); such disclosure controls and procedures are designed to ensure that material information relating
to the Trust and any applicable Fund, is made known to the Managing Owner, and such disclosure controls and procedures are effective to perform the functions for which they were established; on behalf of the Trust and any applicable Fund, the
Managing Owner has been advised of: (i) any significant deficiencies in the design or operation of internal controls which could adversely affect the Trust’s or any applicable Fund’s ability to record, process, summarize, and report
financial data; and (ii) any fraud, whether or not material, that involves management or other employees who have a role in the Trust’s or any applicable Fund’s internal controls; any material weaknesses in internal controls have been
identified for the Trust’s and/or the applicable Fund’s auditors; 

  

	 	(x)	any statistical and market-related data included in the applicable Registration Statements and the Prospectuses are based on or derived from sources that the Managing
Owner believes to be reliable and accurate, and the Managing Owner has obtained the written consent to the use of such data from such sources to the extent required; and 

  
 D-6

	 	(y)	neither the Managing Owner, nor any of the Managing Owner’s directors, members, managers, officers, affiliates or controlling persons nor the Trustee has taken,
directly or indirectly, any action designed, or which has constituted or might reasonably be expected to cause or result in, under the 1934 Act or otherwise, the stabilization or manipulation of the price of any security or asset of the Funds to
facilitate the sale or resale of the Shares; and there are no affiliations or associations between any member of FINRA and any of the Managing Owner’s officers, directors or 5% or greater security holders, except as set forth in the applicable
Registration Statements and the Prospectuses. 

 For purposes hereof, the term “Registration
Statement” shall mean any of the applicable Registration Statements as amended or supplemented from time to time to the date hereof and the term “Prospectus” shall mean any of the applicable Prospectuses as amended or
supplemented from time to time to the date hereof. 
  

	 	2.	Each of the obligations of the Managing Owner to be performed by it on or before the date hereof pursuant to the terms of the Agreement, and each of the provisions
thereof to be complied with by the Managing Owner on or before the date hereof, has been duly performed and complied with in all material respects. 

 Capitalized terms used, but not defined herein shall have the meanings assigned to such terms in the Agreement. 
 [SIGNATURE PAGE TO FOLLOW] 

  
 D-7

 IN WITNESS WHEREOF, we have hereunto, on behalf of the Managing Owner, subscribed our names
this    day of             , 20            . 

 

			
	By:	 	  

		 	Name:
		 	Title:
		
	By:	 	  

		 	Name:
		 	Title:

  
 D-8

 ATTACHMENT A 

PROCEDURES FOR THE 
 CREATION AND REDEMPTION OF SHARES 
 Scope of Procedures and Overview

 This Attachment A to the Participant Agreement supplements this Agreement, the Prospectus and the Trust Agreement (as defined
below) with respect to the procedures (the “Procedures”) to be used in processing (1) a creation order for the creation of one or more Baskets (“Creation Order”) of Shares of STREAM S&P Dynamic Roll Global
Commodities Fund (the “Fund”) issued by STREAM Exchange Traded Trust (the “Trust”) in Creation Baskets of the Fund and a (2) redemption order for the redemption of one or more Baskets (“Redemption
Order”) of Shares of the Fund issued by the Trust in Redemption Baskets of the Fund. Shares may be created or redeemed only in blocks of 40,000 Shares (each such block, a “Basket”) for the Fund. The Trust is a Delaware
statutory trust with multiple series, including the Fund. 
 Capitalized terms used in these Procedures without further definition have the
meanings assigned to them in the Fourth Amended and Restated Declaration of Trust and Trust Agreement of the Trust (collectively, the “Trust Agreement”) of the Trust, dated as of April 20, 2012, and as amended from
time-to-time, between Wilmington Trust Company, as trustee of the Trust (the “Trustee”) and BNP Paribas Quantitative Strategies, LLC, as managing owner (the “Managing Owner”) or the Participant Agreement entered
into by each Participant with the Trust on behalf of each Fund and the Managing Owner. 
 For purposes of these Procedures, a “Business
Day” means any day other than a day when each of NYSE Arca and banks in both New York City and London are required or permitted to be closed. 
 Baskets are issued pursuant to the Prospectus, which has been obtained by each Authorized Participant from the Trust’s website at www.stream.bnpparibas.com prior to its execution of the
Participant Agreement, and are issued and redeemed in accordance with the Trust Agreement and the Participant Agreement. 
 Creation Orders and
Redemption Orders are, collectively, the “Orders.” 
 “Transfer Agent” means The Bank of New York Mellon.

 Authorized Participants (“Participants”) may submit Orders to the Transfer Agent by (i) submitting such Orders through
the Transfer Agent’s electronic order entry system, as such may be made available and constituted from time to time, the use of which shall be subject to the terms and conditions of the Electronic Services Agreement, incorporated herein by
reference as provided in Annex I (the “Website Based Orders”), (ii) facsimile or (iii) telephone to the Transfer Agent Representative and the Managing Owner, as applicable, according to these Procedures as provided in
Annex I ((ii) and (iii), collectively, the “Fax/Telephone Based Orders”). 
 “Order Cut-Off Time” means 10:00
am, Eastern Time, on each Business Day. 

  
 Attachment A-1

 Baskets may be created and redeemed on any Business Day in exchange for the applicable Creation Basket
Capital Contribution or Redemption Basket, respectively, from the Participant. 
 “Creation Order Date” means an order to
create one or more Creation Baskets placed by a Participant with the Transfer Agent by the Order Cut-Off Time on a Business Day. 

“Redemption Order Date” means an order to redeem one or more Redemption Baskets placed by a Participant with the Transfer Agent by the
Order Cut-Off Time on a Business Day. 
 “Settlement Time” means 2:45 p.m., Eastern Time, on the Business Day immediately
following the Creation Order Date or the Redemption Order Date, as applicable. 
 “Redemption Distribution” means, subject to
deduction of any tax or other governmental charges due thereon, the cash in an amount equal to the product obtained by multiplying (i) the number of Redemption Baskets set forth in the relevant Redemption Order by (ii) the Net Asset Value
Per Basket of a Fund as of the close of the NYSE Arca Core Trading Session or the last to close of the Futures Exchanges on which the Fund’s Designated Contracts or Substitute Contracts (which are listed on futures exchanges other than the
Futures Exchanges) are traded, whichever is later, on the Redemption Order Date. 
 Each Participant is responsible for ensuring that the
Creation Basket Capital Contribution and/or the Redemption Basket it intends to transfer to the Fund in exchange for Creation Baskets or redemption proceeds, as applicable, is available for transfer to such Fund in the manner and at the times
described in these Procedures. 
 Participants will be required to pay a nonrefundable per order transaction fee of $500 to the Transfer Agent
(the “Transaction Fee”). 
 Important Notes: 
  

	 	•	 	 Any Creation Order is subject to acceptance or rejection pursuant to the terms of the Marketing Agent Agreement for the reasons set forth in the Trust
Agreement or the Participant Agreement. 

  

	 	•	 	 Any Redemption Order is subject to acceptance or rejection by the Transfer Agent for the reasons set forth in the Trust Agreement or the Participant
Agreement. 

  

	 	•	 	 All Orders are subject to the provisions of the Trust Agreement and the Participant Agreement relating to unclear or ambiguous instructions.

  
 Attachment A-2

 ANNEX I 
 WEBSITE BASED ORDERS 
 AND 

FAX/TELEPHONE BASED ORDERS 
 CREATION PROCEDURES 
  

	 	1.	PLACING A CREATION ORDER. 

Participants may submit Website Based Orders or Fax/Telephone Based Orders to the Transfer Agent as provided by these Procedures.

 NOTE THAT IF THE PARTICIPANT PLACES A FAX/TELEPHONE BASED ORDER, THE TELEPHONE CALL IN WHICH THE SUBMISSION NUMBER IS ISSUED
INITIATES THE CREATION ORDER PROCESS BUT DOES NOT ALONE CONSTITUTE THE CREATION ORDER. A CREATION ORDER OR REQUEST IS ONLY COMPLETED AND PROCESSED UPON RECEIPT OF THE SUBMISSION. 

Creation Orders for Creation Baskets may be initiated only on Business Days. Creation Orders may only be made in whole Creation Baskets
of each Fund. 
 To begin a Creation Order, the Participant must telephone the Transfer Agent at (718) 315-7500 or such
other number as the Managing Owner designates in writing to the Participant. This telephone call must be made by an Authorized Person of the Participant and answered by the Transfer Agent before the Order Cut-Off Time. Upon verifying the
authenticity of the Participant (as determined by the use of the appropriate PIN Number), the Transfer Agent will request that the Participant place the Creation Order. To do so, the Participant must provide the appropriate ticker symbol when
referring to the Fund. After the Participant has placed the Creation Order, the Transfer Agent will read the Creation Order back to the Participant. The Participant then must affirm that the Creation Order has been taken correctly by the Transfer
Agent. If the Participant affirms that Creation Order has been taken correctly, the Transfer Agent will issue a confirmation number (the “Confirmation Number”) to the Participant. All Creation Orders may also be placed by the
Participant as a Website Based Order by the Order Cut-Off Time. 
 PLEASE NOTE: A CREATION ORDER REQUEST IS NOT COMPLETE UNTIL
THE CONFIRMATION NUMBER IS ISSUED BY THE TRANSFER AGENT. WITH RESPECT TO THE FUND, A CREATION ORDER FOR CREATION BASKETS CANNOT BE CANCELED BY THE PARTICIPANT AFTER THE CONFIRMATION NUMBER HAS BEEN ISSUED. INCOMING TELEPHONE CALLS ARE QUEUED AND
WILL BE HANDLED IN THE SEQUENCE RECEIVED. ACCORDINGLY, THE PARTICIPANT SHOULD NOT HANG UP AND REDIAL. CALLS THAT ARE IN PROGRESS AT THE ORDER CUT-OFF TIME ARE VALID AND THE CREATION ORDER WILL BE TAKEN. PLEASE NOTE THAT “IN PROGRESS” IS
DEFINED AS A PARTICIPANT ACTUALLY SPEAKING WITH THE TRANSFER AGENT. FOR CALLS THAT ARE PLACED BEFORE 

  
 Attachment A-3

 
THE ORDER CUT-OFF TIME THAT ARE IN THE HOLDING QUEUE UNANSWERED AT OR AFTER THE ORDER CUT-OFF TIME, WILL BE VERBALLY DENIED. INCOMING CALLS THAT ARE RECEIVED AFTER THE ORDER CUT-OFF TIME WILL NOT
BE ANSWERED BY THE TRANSFER AGENT. ALL TELEPHONE CALLS WILL BE RECORDED. 
  

	 	2.	RECEIPT OF CONFIRMATION. 

Subject to the conditions that a properly completed telephone Creation Order has been placed by the Participant not later than the Order
Cut-Off Time, the Managing Owner will accept the Creation Order on behalf of the Trust and will confirm in writing to the Participant that its Creation Order has been accepted within 45 minutes after the designated Order Cut-Off Time on the Business
Day that the Creation Order is received. Once the Creation Order has been approved by the Managing Owner, the Managing Owner will sign or time-stamp the Creation Order and send that Creation Order to the Transfer Agent. 

 

	 	3.	QUALITY ASSURANCE. 

 After
a Confirmation Number is issued by the Transfer Agent to the Participant, the Participant will fax a written version of the Creation Order to the Transfer Agent. Upon receipt, the Transfer Agent should immediately telephone the Participant if the
Transfer Agent believes that the Creation Order has not been completed correctly by the Participant. In addition, the Transfer Agent will telephone the Participant if the Transfer Agent is in non-receipt of the Creation Order within 15 minutes after
the Creation Order has been called into the Transfer Agent. 
  

	 	4.	REJECTING OR SUSPENDING CREATION ORDERS. 

 The Managing Owner or its delegate reserves the absolute right to reject acceptance of a Creation Order if (i) the order is not in proper form as determined by the Managing Owner, its delegate or the
Transfer Agent; (ii) the acceptance of the Creation Order may, in the opinion of counsel, be unlawful; (iii) the Managing Owner or its delegate believes that acceptance of the Creation Order would have adverse tax consequences to the Fund
or its Shareholders; or (iv) circumstances outside the control of Managing Owner, its delegate or the Transfer Agent make it for all practical purposes, not feasible to process a Creation Order. The Managing Owner or its delegate shall notify
the Participant of a rejection or revocation of any Creation Order. The Managing Owner or its delegate may not revoke a previously accepted Creation Order, as defined in Section 2 of this Annex. 

The Managing Owner or its delegate is not liable to any person or in any way for any loss or damages that may result from any such
rejection. 

  
 Attachment A-4

	 	5.	CONTRACTUAL SETTLEMENT. 

  

	 	(a)	Through the CNS Clearing Process 

 Except as provided below, the Creation Basket Capital Contribution must be made in same day funds through the NSCC to a DTC account maintained by the Custodian on or before the Settlement Time, after
acceptance of the Creation Order, together with the applicable Transaction Fee. A Creation Basket of the Fund will be issued to the Participant at the Settlement Time through the CNS system assuming timely payment of the Creation Basket Capital
Contribution and the Transaction Fee through CNS in accordance with the terms, conditions and guarantees as set forth in CNS agreements to which the Custodian and Participant have entered into. 

 

	 	(b)	Outside the CNS Clearing Process: 

 The Creation Basket Capital Contribution must be delivered to an account maintained by the Custodian on or before the Settlement Time. 

The Creation Basket will be credited to the Participant at the Settlement Time. 

  
 Attachment A-5

 REDEMPTION PROCEDURES 

 

	 	1.	PLACING A REDEMPTION ORDER. 

 Participants may submit Website Based Orders or Fax/Telephone Based Orders to the Transfer Agent as provided by these Procedures. 
 NOTE THAT IF THE PARTICIPANT PLACES A FAX/TELEPHONE BASED ORDER, THE TELEPHONE CALL IN WHICH THE SUBMISSION NUMBER IS ISSUED INITIATES THE REEMPTION ORDER PROCESS BUT DOES NOT ALONE CONSTITUTE THE
REEMPTION ORDER. A REEMPTION ORDER IS ONLY COMPLETED AND PROCESSED UPON RECEIPT OF THE SUBMISSION. 
 Redemption Orders for
Redemption Baskets may be initiated only on Business Days. Redemption Orders may only be made in whole Redemption Baskets of each Fund. 
 To begin a Redemption Order, the Participant must telephone the Transfer Agent at (718) 315-7500 or such other number as the Managing Owner designates in writing to the Participant. This telephone
call must be made by an Authorized Person of the Participant and answered by the Transfer Agent before the Order Cut-Off Time. Upon verifying the authenticity of the Participant (as determined by the use of the appropriate PIN Number), the Transfer
Agent will request that the Participant place the Redemption Order. To do so, the Participant must provide the appropriate ticker symbol when referring to the Fund. After the Participant has placed the Redemption Order, the Transfer Agent will read
the Redemption Order back to the Participant. The Participant then must affirm that the Redemption Order has been taken correctly by the Transfer Agent. If the Participant affirms that Redemption Order has been taken correctly, the Transfer Agent
will issue a confirmation number (the “Confirmation Number”) to the Participant. All Redemption Orders may also be placed by the Participant as a Website Based Order by the Order Cut-Off Time. 

PLEASE NOTE: A REDEMPTION ORDER REQUEST IS NOT COMPLETE UNTIL THE CONFIRMATION NUMBER IS ISSUED BY THE TRANSFER AGENT. WITH RESPECT TO
THE FUND, A REDEMPTION ORDER FOR REDEMPTION BASKETS CANNOT BE CANCELED BY THE PARTICIPANT AFTER THE CONFIRMATION NUMBER HAS BEEN ISSUED. INCOMING TELEPHONE CALLS ARE QUEUED AND WILL BE HANDLED IN THE SEQUENCE RECEIVED. ACCORDINGLY, THE PARTICIPANT
SHOULD NOT HANG UP AND REDIAL. CALLS THAT ARE IN PROGRESS AT THE ORDER CUT-OFF TIME ARE VALID AND THE REDEMPTION ORDER WILL BE TAKEN. PLEASE NOTE THAT “IN PROGRESS” IS DEFINED AS A PARTICIPANT ACTUALLY SPEAKING WITH THE TRANSFER AGENT. FOR
CALLS THAT ARE PLACED BEFORE THE ORDER CUT-OFF TIME THAT ARE IN THE HOLDING QUEUE UNANSWERED AT OR AFTER THE ORDER CUT-OFF TIME, WILL BE VERBALLY DENIED. INCOMING CALLS THAT ARE RECEIVED AFTER THE ORDER CUT-OFF TIME WILL NOT BE ANSWERED BY THE
TRANSFER AGENT. ALL TELEPHONE CALLS WILL BE RECORDED. 

  
 Attachment A-6

	 	2.	RECEIPT OF CONFIRMATION. 

Subject to the conditions that a properly completed telephone Redemption Order has been placed by the Participant not later than the Order
Cut-Off Time, the Managing Owner will accept the Redemption Order on behalf of the Trust and will confirm in writing to the Participant that its Redemption Order has been accepted within 45 minutes after the designated Order Cut-Off Time on the
Business Day that the Redemption Order is received. Once the Redemption Order has been approved by the Managing Owner, the Managing Owner will sign or time-stamp the Redemption Order and send that Redemption Order to the Transfer Agent. 

 

	 	3.	QUALITY ASSURANCE. 

 After
a Confirmation Number is issued by the Transfer Agent to the Participant, the Participant will fax a written version of the Redemption Order to the Transfer Agent. Upon receipt, the Transfer Agent should immediately telephone the Participant if the
Transfer Agent believes that the Redemption Order has not been completed correctly by the Participant. In addition, the Transfer Agent will telephone the Participant if the Transfer Agent is in non-receipt of the Redemption Order within 15 minutes
after the Redemption Order has been called into the Transfer Agent. 
  

	 	4.	REJECTING OR SUSPENDING REDEMPTION ORDERS. 

 The Managing Owner or its delegate may, in its discretion, suspend the right of redemption, or postpone the Settlement Time, (i) for any period during which the Exchange is closed other than
customary weekend or holiday closings, or trading is suspended or restricted; (ii) for any period during which an emergency exists as a result of which delivery, disposal or evaluation of the Trust’s assets is not reasonably practicable;
or (iii) for such other period as the Managing Owner determines to be necessary for the protection of shareholders. The Managing Owner shall notify the Participant of a rejection or revocation of any Redemption Order. The Managing Owner or its
delegate may not revoke a previously accepted Redemption Order, as defined in Section 2 of this Annex. 
 The Managing
Owner or its delegate is not liable to any person or in any way for any loss or damages that may result from any such suspension or postponement. 
  

	 	5.	CONTRACTUAL SETTLEMENT. 

  

	 	(a)	Through the CNS Clearing Process 

 Except as provided below, the Redemption Baskets must be delivered through the NSCC to a DTC account maintained by the Custodian on or before the Settlement Time, after acceptance of the Redemption Order,
together with receipt of the Transaction Fee. The Redemption Distribution will be credited to the Participant at the Settlement Time through the NSCC’s Continuous Net Settlement (CNS) system, assuming timely delivery of Redemption Baskets and
the Transaction Fee through CNS in accordance with the terms, conditions and guarantees as set forth in CNS agreements to which the Custodian and Participant have entered into. 

  
 Attachment A-7

	 	(b)	Outside the CNS Clearing Process 

 The Redemption Baskets must be delivered to an account maintained by the Custodian on or before the Settlement Time. 
 The Redemption Distribution will be paid to the Participant at the Settlement Time. 

  
 Attachment A-8Customer Agreement between the Trust and PBI

 Exhibit 10.1 

 
 

 
 BNP Paribas Prime Brokerage, Inc. 

Customer Agreement 
 and Account Application 
 Hedge Fund / Fund Agreement 

and 
 New
Account Information 

 USA PATRIOT ACT CUSTOMER NOTIFICATION 

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions
to obtain, verify and record information that identifies each person who opens an account. What this means for you (the new client): When you open an account, we will ask for your name, address. Taxpayer Identification Number and other identifying
documents in order to allow BNP Paribas Prime Brokerage, Inc. to identify you.” 
  

 
  

Instructions: 
 CUSTOMER AGREEMENT

  

	 	Page 2:	Customer Agreement – Please read carefully and return two (2) execution copies signed by an authorized signatory on page 16. 

AUTHORITY AND CAPACITY DOCUMENTS 
 Complete, sign, and return the applicable document: 
 Appendix A

  

	 	Page 17	General Partnership / Limited Partnership/ Limited Liability Partnership Authorization – Complete this form if Customer is a General Partnership, Limited
Partnership, or Limited Liability Partnership. 

 Also, Please provide the following: 

 

	 	•	 	 Partnership Agreement showing business name and name of all General Partners (except limited partners of a Limited Partnership)

  

	 	•	 	 Business organizing document filed with and certified by state official, such as Certificate of Limited Liability Partnership, showing business name
and name of partners 

  

	 	•	 	 Prospectus, Disclosure Document, Offering Memorandum, Private Placement Memorandum, or other offering documents (if applicable)

  

	 	Page 19	Corporate / LLC Resolution and Trading Authorization – Complete this form if Customer is a Corporation or Limited Liability Company.

 Also, Please provide the following: 

 

	 	•	 	 Articles of Incorporation or Certificate of Incorporation 

 

	 	•	 	 Prospectus, Disclosure Document, Offering Memorandum, Private Placement Memorandum, or other offering documents (if applicable).

  
 ii 

	 	Page 21	Trust Authorization – Complete this form if Customer is a Trust (not to be used for pension plans). 

Also, Please provide the following. 
  

	 	•	 	 Trust Agreement 

  

	 	•	 	 Prospectus, Disclosure Document, Offering Memorandum, Private Placement Memorandum, or other offering documents (if applicable).

 DISCRETIONARY ACCOUNTS 
 If Customer is represented by, or acting through, an account manager, investment manager or commodity trading advisor, return the following: 

 

	 	•	 	 Current Investment Management Agreement between Customer and its Advisor 

 

	 	•	 	 Copy of Disclosure Document that the Advisor has furnished to the customer 

 

	 	•	 	 If claimed, notice of claim for exemption filed by the Advisor pursuant to CFTC Regulation 4.7(d) 

 

	 	•	 	 If claimed, notice of exemption filed by the Advisor pursuant to CFTC Regulation 4.14(a)(8)(iii) 

In addition, submit the following documents with the required authorized signature(s): 

Appendix B 
  

	 	Page 23	Discretionary Trading Authorization – Please return with Customer’s authorized signature(s). 

Appendix B-1 
  

	 	Page 25	Automatic Termination of Discretionary Trading Authorization – Please return with Customer’s authorized signature(s). 

Appendix B-2 
  

	 	Page 25	Advisor Fee Authorization – Please return with Customer’s authorized signature(s) if Customer authorizes broker to pay fees and commissions to
Advisor’s, executing brokers, and floor brokers upon receipt of invoice. 

 Appendix B-3 

 

	 	Page 26	Advisor’s Agreement – Please return with Advisor’s authorized signature. 

  
 iii

 NEW ACCOUNT INFORMATION FORM 
 Appendix C 
 Page 27 New Account Information – Please complete all applicable
sections. Return the form with an authorized signature on page 30 

  
 iv 

 

 
 Prime Brokerage, Inc. 
 Customer Agreement 
 Hedge Fund / Fund Agreement 

 BNP PARIBAS Prime Brokerage, INC. 

CUSTOMER AGREEMENT 
 In
consideration of the acceptance by BNP Paribas Prime Brokerage, Inc. (“Broker”), of one or more accounts of BNP Paribas Quantitative Strategies, LLC, as managing owner and sponsor of each fund in the BNP Paribas Exchange
Traded Trust, severally and not jointly (each fund, individually, a “Customer”) (if more than one account is carried by Broker, all are covered by this Agreement and are referred to individually as the “Account”),
and Broker’s agreement to act as Customer’s broker for the execution. clearance and/or carrying of transactions (“Transactions”) for the purchase and sale of cash – settled commodity interests, including
commodities, commodity futures contracts (“Futures Contracts”) and related options (“Option Contracts” and. together with Futures Contracts, “Contracts”), Customer and Broker agree as follows:

 1. APPLICABLE RULES AND REGULATIONS – The Account and each Transaction therein shall be subject to (i) the Commodity
Exchange Act, as amended (the “CEA”), and all rules (“CFTC Regulations”) and interpretations of the Commodity Futures Trading Commission (the “CFTC”) and the National Futures Association (the
“NFA”); (ii) all applicable laws and the regulations, rules and orders of all regulatory and self-regulatory organizations having jurisdiction thereover, including, but not limited to, the constitution, by-laws, rules,
regulations, orders, resolutions, interpretations and customs and usage’s of the contract market, exchange or board of trade (and any associated or independent clearing organization) (each, an “Exchange”) where such
Transaction is executed and/or cleared; and (iii) any other laws, rules or regulations applicable to Customer’s trading of Contracts (items referred to in clauses (i) – (iii) arc referred to collectively as “Applicable
Law”). 
 2. PAYMENTS TO BROKER – With respect to every Transaction purchased, sold or cleared for the Account, Customer
agrees to pay to Broker by the end of the business day when demand is received by Customer (which demand shall be deemed received immediately upon transmission to Customer if made orally, by telex, telefax, email or telephone): (a) commission
and service charges as arc in effect between Customer and Broker from time to time together with all applicable fees, charges and taxes; (b) the amount of any trading losses, debit balance, margins, premiums or any other liability that may
result from Transactions executed and/or cleared for the Account; (c) all regulatory, Exchange and other self- regulatory fees, fines, penalties and charges, and any taxes incurred or imposed with respect to each Account; and (d) interest
on any debit balances and liabilities, at the lesser of (i) the maximum rate permitted by New York law or (ii) one percent < 1%) over the then prevailing Prime Rate as published in the New York edition of the Wall Street Journal (or
such other rates as may be agreed by Customer and Broker if such publication does not publish such a rate), as well as any charges or costs incurred by Broker with respect to the Account, including reasonable attorneys’ fees in collecting the
account balance. Customer agrees that any and all payments required to be made hereunder shall be made immediately by wire transfer to an account designated by Broker (unless otherwise agreed by Broker). 

3. MARGIN AND OTHER OBLIGATIONS – Customer shall at all times maintain adequate margins in the Account and pay all premiums so as continually
to meet the original and maintenance margin requirements and premium payments established by Broker for Customer from time to time at Brokers sole discretion, Demands for margin received by Customer after 12pm EST may be satisfied by the close of
the following business day. Customer acknowledges and agrees that Broker shall not have any obligation to execute any Transaction unless Customer has satisfied its margin requirements, in full as established by Broker in Broker’s sole
discretion. Customer further acknowledges and agrees that the Broker has no obligation to establish uniform margin, commission or fee requirements and that margin requirements imposed by the Broker may exceed those of the applicable Exchange.

 Customer further acknowledges and agrees that Broker shall have the right to transfer or pledge margin deposited by Customer to any Exchange,
or to transfer or pledge other property to any Exchange in 

  
 2 

 
substitution for such margin, in order to satisfy obligations incurred by Broker on behalf of its customers, and that any such transfer, pledge or substitution shall not diminish Customer’s
obligations pursuant to Section 2 (Payments to Broker) of this Agreement. 
 Except as expressly provided in this Section 3 (Margin
and Other Obligations), Broker shall not have any light to hypothecate, rehypothecate, borrow, pledge, repledge, transfer, lend or invest any margin, money assets or other property now or at any future time held in the Account, including but not
limited to, all futures and options positions maintained in the Account, or held by Broker for Customer (collectively. “Collateral”) without the express written agreement of Customer, which agreement may relate to a specified item or group
of items of Collateral or may relate to all Collateral; provided that Broker shall have the right to invest margin or other money held in the Account in (a) obligations of the United States and obligations fully guaranteed as to principal and
interest by the United States (U.S. government securities) and (b) interests in money market funds, each in accordance with Applicable Law 

4a. SEGREGATED ACCOUNT. Broker covenants and agrees, for the benefit of Customer, that it shall comply with the segregation requirements of
Section 4d(2) of the Commodity Exchange Act and that it shall maintain Customer’s property in accordance with the requirements of CFTC Rules 1.2(1 and 30.7 adopted thereunder (the “Segregation Rules”). Upon Customer’s
request, Broker shall provide Customer with a detailed report demonstrating the procedures employed by Broker to ensure compliance with the Segregation Rules with respect to Customer’s property and showing the location of Customer’s
property. 
 Notwithstanding the provisions of CFTC Rule 1.23, Broker hereby agrees that in the event of any losses incurred in
connection with Broker investing Customer’s property in reliance on CFTC Rule 1.25, Broker agrees that it shall immediately notify Customer and transfer property of like or equivalent kind into the segregated account in an amount sufficient to
place the segregated account in the same position as if such losses had not occurred. 
 Broker hereby agrees that it shall, upon
Customer’s request, provide Customer with a record of Broker’s investment of Customer’s property under CFTC Rule 1.25, such record to contain, at a minimum, the information required to be kept by a futures commission merchant under
CFTC Rule 1.27. 
 4. OTC TRANSACTIONS – in certain jurisdictions. Customer placing an order for a transaction on an Exchange may,
as a matter of local law, receive an over the counter (“OTC”) product that resembles the relevant Exchange’s contract in all material respects, except that such transactions may be deemed “principal” transactions with
Broker. All such transactions shall be deemed Transactions, generated on an Exchange for the purposes of this Agreement, and Customer disclaims and waives and fully indemnifies Broker for all claims of any kind which are directly or indirectly
related to the legal status of such Transactions. OTC Transactions may not be afforded the same level of regulatory protections as Transactions executed on or cleared through an Exchange. 
 5. CASH SETTLEMENT – Customer acknowledges and agrees that ii shall not, under any circumstances, make or take delivery under a Futures Contract and shall furnish Broker with instructions to
liquidate all Futures Contracts open positions (the “Liquidation Instruction”) at any time prior to the last day on which such Futures Contracts held in the Account are traded (the “Expiration Date”). If
Customer fails to furnish the Liquidation Instruction prior to the Expiration Date of a Futures Contract. Broker shall in its sole discretion liquidate any open positions in all such Futures Contract prior to the close of trading on the Expiration
Date, in such manner and on such terms as Broker in its reasonable business judgment deems necessary or appropriate. Customer shall remain fully liable for all costs, expenses and liabilities incurred by Broker in connection with such Transactions
and for any remaining debit balance. 

  
 3 

 6. OPTION EXERCISE; CUT-OFF TIMES – Broker shall not have any obligation to exercise any long
option contract unless Customer has furnished Broker with timely exercise instructions and sufficient initial margin with respect to each underlying futures contract. Customer agrees to give Broker timely notice and immediately on request to inform
Broker if Customer intends to exercise an option contract. Customer shall furnish Broker with sufficient funds, property, documents or instruments deliverable by it under any contract (or the full dollar equivalent thereof) in accordance with
Broker’s reasonable instructions. If Customer fails to comply with any of the foregoing obligations. Broker may in its reasonable business judgment liquidate any open option positions, exercise or allow the expiration of any options, in such
manner and on such terms as Broker in its reasonable business judgment deems necessary or appropriate. Customer shall remain fully liable for all costs, expenses and liabilities incurred by Broker in connection with such Transactions and for any
remaining debit balance. 
 Customer understands that Exchanges have established exercise cut-off times for the tender of exercise instructions
in relation to options and that options may become worthless in the event that Customer does not deliver instructions by such cut-off time. Customer also acknowledges that Broker may establish exercise cut-off times that arc earlier than the
exercise cut-off times established by the relevant Exchanges, and it shall have no claims against Broker arising out of the fact that an option was not exercised Customer further acknowledges and agrees that any exercise of an option contract shall
he subject to the provisions set forth under Section 5 (Cash Settlement) of this Agreement. 
 7. CUSTOMER INSTRUCTIONS –
Customer may give Broker instructions in writing or in another manner acceptable to Broker, which shall not include, unless otherwise expressly agreed to in advance in writing by Broker, instructions or orders given orally or sent by facsimile. In
no event, however, shall Broker be deemed to have received any instruction or order given or sent by Customer orally or in writing, unless and until Broker affirmatively confirms its receipt. Any oral instructions accepted by Broker shall not be
deemed to violate any laws or regulations required contracts to be in writing and Customer hereby waives any such defense. Broker shall be entitled to rely upon any instructions received from any person that Broker reasonably believes to have
authority to provide such instructions. Customer acknowledges that Broker is not obligated to execute or otherwise act upon any instructions under this Agreement given to Broker. 
 8. BROKER MAY LIMIT POSITIONS HELD – Customer agrees that Broker, at its reasonable discretion, may limit, with prior notice to Customer, the number of open positions (net or gross) which
Customer may execute, clear and/or carry with or acquire through it and Customer agrees to promptly follow Broker’s instructions regarding such limits. Broker shall endeavor to provide Customer with additional notice than is required in the
previous sentence if circumstances permit of any decision on its part to limit the number of open positions (net or gross) which Customer may execute, clear and/or carry with or acquire through it. Customer agrees not to make any trade which would
have the effect of exceeding such limits whether imposed by Broker or any agency or any regulatory or self-regulatory authority or any Exchange. In addition, Broker shall have the right, in its sole discretion to (i) refuse to accept any orders
that establish new positions and (ii) require Customer to reduce open positions carried with Broker, and Customer shall be liable for any deficiency resulting therefrom whether or not such refusal, reduction or limitation was required under
Applicable Law. 
 Customer agrees to notify Broker promptly if Customer is required to file position reports with any regulatory or
self-regulatory authority or with any Exchange 
 9. LIMITS ON LIABILITY; EXTRAORDINARY EVENTS – Except as otherwise provided by the
CEA. Customer agrees to waive any and all claims, rights or causes of action which it has or may have against Broker or its officers, employees, agents or affiliates (collectively the “Broker Group”) for any consequential or
punitive damages and to limit any claims or rights arising out of any Transactions executed or not executed, or otherwise arising from this Agreement or the Account, to its direct out of pocket damages. References in this Agreement to Applicable Law
are not intended to establish any 

  
 4 

 
private right of action or any other basis for any claim by Customer. No member of the Broker Group shall be liable as a result of any action taken by Broker member of the Broker Group or any
clearing brokers or floor brokers, to comply with Applicable law. Under this Agreement, a member of the Broker Group will only be liable for non-performance of its obligations arising from its negligence or willful misconduct. In no event shall any
member of the Broker Group be liable for: (i) the actions or inactions of any government, regulatory authority. Exchange or clearing house; (ii) wars terrorism, or strikes; (iii) delays or failure in the transmission of orders due to
a breakdown or failure of hardware, software, electronic trading systems, order routing systems, or other transmission systems, devices or communication facilities, including where such failure is caused by a computer virus; or (iv) failure of
any Exchange, clearing house, intermediate broker, custodian, subcustodian, bank, dealer, or for any other cause or causes beyond Broker’s direct control regardless of whether such claim arises in contract, negligence, tort, strict liability,
or otherwise. 
 Customer acknowledges that business on a market operated or cleared by an Exchange, may from time to time be suspended,
restricted, closed or otherwise impeded (“Exchange Impediment”) Any such action may result in Broker being unable to enter into or other effect Transactions. Customer shall remain fully liable for all existing open positions, new
positions or eliminated positions, resulting in whole or pail from an Exchange Impediment 
 10. INDEMNIFICATION OF BROKER – Absent
Broker’s negligence or willful misconduct, Customer agrees to indemnify, defend and hold Broker and its officers, directors, employees, agents and affiliates harmless from and against any and all loss, liability, damage, cost, claim or expense
(including without limitation, reasonable attorneys’ fees and any fine, sanction or penalty made or imposed by any court, agency or regulatory or self-regulatory authority or any Exchange) incurred in connection with this Agreement the Account
and or any Transactions or positions established or maintained therein, including where Broker acts on the instructions of any intermediary or third party for Customer or because of an Exchange Impediment. Without limitation, Customer agrees to
reimburse Broker on demand for any cost of collection incurred by Broker in collecting such sums owed hereunder and any cost incurred in successfully defending against any claims asserted by Customer, including legal fees, interest and expenses.

 11. NOTICES; TRANSMITTALS – Broker shall transmit all communications to Customer at Customer’s address, telex, telefax,
email or telephone number set forth in the accompanying New Account Information Application or to such other address as Customer may hereafter direct in writing, Subject to Section 12 (Confirmations), a communication transmitted to Customer
shall be deemed received: (i) in the case of a communication transmitted to Customer orally, by telex, telefax, email or telephone, immediately upon receipt by Customer; and (ii) in the case of any other communication, three
(3) business days following the transmission to Customer. Customer shall transmit all communications to Broker electronically, unless requested otherwise by Broker in writing, and shall be deemed received by Broker only when actually received
Customer will advise Broker in Appendix A hereto of the names of, and offices held by, any other persons authorized to give instructions to Broker on behalf of Customer with respect to Customer’s Account and will promptly give written notice of
any termination of such authority. 
 12. CONFIRMATIONS – Customer agrees until further notice, which may be provided by Broker, to
receive all confirmations of Transactions and monthly statements by means of electronic communication unless it advises Broker in writing that it wishes to be mailed or faxed such statement. Broker may also provide Customer a password (a
“Password”) and a unique user ID (a “User ID”), and together with a Password, “Log-in Details”) to enable access to a secure website (the “Website”), whereby Customer shall gain
access to confirmations and monthly statements in connection with the Account. Customer acknowledges and agrees that it shall be entirely responsible for maintaining the confidentiality of the Customer’s Log-in Details and shall promptly notify
Broker of any unauthorized use of the Log-in Details or any other breach of security known to Customer or any of Customer’s agents 

  
 5 

 
authorized to access the Website on Customer’s behalf. Customer further agrees that it shall take reasonable measures to prevent any access to the Log-in Details by unauthorized persons, and
Broker shall not be liable for any damage, loss or cost that Customer may incur as a result of any unauthorized use of the Log-in Details or the Website or unavailability of the use of the Website for any reason whatsoever. 

Confirmation of Transactions and any other notices, reports or statements provided to Customer shall be conclusive and binding on Customer unless
Customer notifies Broker to the contrary (i) in the case of an oral report, orally at the time received by Customer or its agent or (ii) in the case of a written report, statement or notice, prior to opening of trading on the business day
immediately following receipt of the report. Customer shall immediately notify Broker if Customer docs not receive confirmation of a trade it believes has been executed. Absent such notice, Customer conclusively shall be deemed estopped to object
and to have waived any such objection to the failure to execute or cause to be executed such Transaction Nothing in this Section 12 (Confirmations) withstanding, neither Customer nor Broker shall be bound by any Transaction or price reported in
error. 
 13. PLEDGE OF PROPERTIES – All Collateral is subject to a priority lien and a security interest in Brokers favor to secure
any indebtedness or other obligations at any time owing by Customer to Broker or any of Broker’s affiliates. In order to satisfy any such indebtedness or obligations, Broker may. without prior notice to Customer, where permitted by Applicable
Law, (i) liquidate any Collateral, (ii) transfer said Collateral to the general ledger account of Broker, (iii) apply, use, credit or transfer any Collateral between any accounts that the Customer maintains first, with the Broker, and
thereafter, with any other relevant Broker’s affiliate, in order to satisfy or secure any of he Customer’s obligations with respect to Broker or any of Broker’s affiliates; or (iv) any funds, securities or property in which
Customer has an interest which is in Broker’s possession or custody or in the possession or custody of any of Broker’s affiliates. Broker will endeavor to provide Customer with notice as promptly as circumstances permit of any action taken
by Broker with respect to items (i), (ii), (iii) or (iv) in the preceding sentence. 
 Customer acknowledges and agrees that its
property maintained in its Account with Broker or any of its accounts with any of Broker’s affiliates is subject to Applicable Law in the jurisdiction where such account is held and may no longer be afforded the same level of regulatory
protections when transferred under this Agreement to relevant Broker’s affiliates in different jurisdictions. 
 Customer agrees that it
will promptly execute and deliver to Broker all instruments and documents that Broker may request from time to time and take such further action as requested by Broker to protect, perfect and secure Broker’s rights and interests under this
Section 13 (Pledge of Properties). 
 Broker shall be under no obligation to return to Customer the same property deposited with Broker or
received by Broker for the Account, but may return other property of like or equivalent kind or amount. 
 14. TRANSFER OF FUNDS; SPECIAL
AUTHORIZATION TO TRANSFER FUNDS FROM REGULATED COMMODITY ACCOUNTS – Broker is hereby authorized, without prior notice to Customer, at any time and from time to lime, to transfer from one account, including any regulated commodity accounts)
(i) as authorized by Customer in writing herein and permitted under Applicable Law or (ii) to enforce Broker’s lien pursuant to Section 13 (Pledge of Properties), to any other accounts in which Customer has any interest, whether
such accounts arc maintained with Broker or any of Broker’s affiliates, such excess funds, equities, securities or other property as in Broker’s reasonable business judgment may be necessary lo avoid margin calls, reduce a debit balance in
such accounts or otherwise. The term “regulated commodity account” means any account in which occur Transactions in commodity futures or related options, such as Contracts, traded on a contract market designated by the CFTC or subject to
the CEA or the rules of any such designated contract market. 

  
 6 

			
	x	 	Customer hereby authorizes Broker to transfer funds front any Customer regulated commodity accounts maintained with Broker or any of Broker’s affiliates, as permitted under
Applicable Law.

 15. TRANSFER OF THE ACCOUNT – Broker may. at any lime and in Broker’s sole discretion, transfer all open
positions in the Account (each such transfer, a “Bulk Transfer”) to another futures commission merchant or introducing broker, and Customer hereby authorizes Broker to effect any such Bulk Transfer, provided
that Broker shall provide Customer with written notice (the “Bulk Transfer Notice”) as promptly as circumstances permit of the proposed Bulk Transfer and identify to Customer the reasons for the Bulk Transfer, the name, address and
telephone number of the proposed transferee futures commission merchant or introducing broker and any other information material to the proposed Bulk Transfer. Customer may object to the proposed Bulk Transfer in writing within 10 days after receipt
of the Bulk Transfer Notice and direct Broker to liquidate all open positions in the Account or transfer them to another futures commission merchant selected by Customer. In the event Customer does not object in writing to the proposed Bulk Transfer
within 10 days after receipt of the Bulk Transfer Notice, Customer shall be deemed to have consented to the proposed Bulk Transfer, and Broker will conduct the Bulk Transfer in accordance with the terms set forth in the Bulk Transfer Notice.

 16. EVENTS OF DEFAULT; REMEDIES – Each of the following shall constitute an Event of Default (each, an “Event of
Default”): 0) Customer defaults on any financial, margin, or performance obligations to Broker hereunder, or on any financial, margin, or performance obligations to Broker or any of its affiliates in respect of any agreement or otherwise;
(ii) the net asset value of Customer as of any day either (1) declines by 20% or more from the last business day of the immediately preceding month period or (2) declines by 35% or more from the last business day of the immediately
preceding 12-months period; (iii) any written representation made by Customer under this Agreement is not, or ceases to be. accurate and complete in any material respect; (iv) a petition in bankruptcy, or a petition for an appointment of a
receiver or similar or equivalent proceeding, is filed by or against Customer or Customer makes or proposes to make any arrangement or composition for the benefit of its creditors; (v) any warrant or order of attachment is issued against a an
Account; or (vi) Customer, any organization of which Customer is a member or any regulatory authority suspends the conduct of Customer’s usual business. 
 If an Event of Default has occurred. Broker may, upon at least 3 hours written notice to Customer and after making a good faith effort to confer with a senior officer of Customer, in its sole discretion
and withoudemand on Customer, exercise one or more of the following rights each in a commercially reasonable manner: (i) satisfy any obligations (either directly or by the way of guarantee) due to Broker or any of Broker’s affiliates out
of any Customer funds, securities or property within custody of Broker or any of Broker’s affiliates; (ii) buy or sell any or all of the Customer’s Transactions, Collateral, securities or other property within custody of Broker or any
of Broker’s affiliates, in such manner as Broker determines to be commercially reasonable; (iii) hedge any of the Customer Transactions or other Account activities in any manner Broker deems necessary; (iv) refuse to accept any orders
that establish new positions; (v) cancel any outstanding Transactions or other Account activities or orders for Transactions in order to close the Customer’s Account; (vi) liquidate, close-out or terminate any or all of the
Customer’s Transactions or other Account activities with Broker or any of Broker’s affiliates, including, without limitation, any or all of Broker’s obligations for future performance to Customer; (vii) instead of returning to
Customer its positions, Collateral, securities or other property within custody of Broker or any of Broker’s affiliates, substitute other positions. Collateral, securities or other property or pay the fair market value of such positions.
Collateral, securities or other property as Broker reasonably determines, and (viii) treat any or all of Customer’s obligations due to Broker as immediately due and payable. Broker shall not be obligated to make any payment to Customer
scheduled under any Transaction or other 

  
 7 

 
Account activity for as long as an Event of Default has occurred and is continuing. Prior to taking any such action, Broker will make a good faith effort to confer with a senior officer of
Customer. Broker shall not be responsible for any losses or accrued or anticipated lost profits resulting from actions or inactions to enforce the Default Remedies. If Broker brings an action against Customer for the collection of amounts owed by
Customer to Broker, Customer waives any right of set-off it may otherwise have against Broker or Broker’s affiliates in respect of any amounts which Broker or any of Broker’s affiliates may owe Customer. 

It is understood that, in all cases. Customer shall be liable for the payment of any deficiency remaining in each Account at the time an Event of Default
has occurred together with interest thereon and all costs relating, to undertaking the Default Remedies as well as to collection (including reasonable attorneys’ fees). 
 17. BROKER’S RIGHT TO LIQUIDATE CUSTOMER POSITIONS – In addition to all other rights set forth in this Agreement: 
 (a) when directed or required by a regulatory or self-regulatory body or exchange having jurisdiction over Broker or the Account; 
 (b) whenever, in its reasonable business judgment, Broker considers it necessary for its protection because of Customer’s failure to satisfy margin requirements where such failure has not been
remedied promptly following written notice from Broker, or the occurrence of an Event of Default; or 
 (c) when Customer fails
to comply with any documentation delivery requirements set forth under Section 19 (Documentation Delivery) of this Agreement, 
 Broker
may, in its sole discretion and without notice to or demand on Customer, exercise one or more of the following rights: (i) satisfy any obligations (cither directly or by the way of guarantee) due to Broker or any of Broker’s affiliates out
of any Customer funds, securities or property within custody of Broker or any of Broker’s affiliates; (ii) buy or sell any or all of the Customer’s Transactions, Collateral, securities or other property within custody of Broker or any
of Brokers affiliates, in such manner as Broker determines to be commercially reasonable: (iii) hedge any of the Customer Transactions or other Account activities in any manner Broker deems necessary; (iv) refuse to accept any orders from
Customer that establish new positions; (v) cancel any outstanding Customer’s Transactions or other Account activities or Customer’s orders for Transactions; (vi) liquidate, close-out or terminate any or all of the Customer’s
Transactions or other Account activities with Broker or any of Broker’s affiliates, including, without limitation, any or all of Broker’s obligations for future performance to Customer; (vii) instead of returning to Customer its
positions. Collateral, securities or other property within custody of Broker or any of Broker’s affiliates, substitute other positions, Collateral, securities or other property or pay the lair market value of such positions, Collateral,
securities or other property as Broker reasonably determines, and (viii) treat any or all of Customer’s obligations due to Broker as immediately due and payable. 
 Broker shall endeavor to provide Customer with notice as promptly as circumstances permit of any action taken by Broker with respect to items (i) through (viii) above. In all cases, Customer
shall be liable for any deficiency remaining in each Account in the event of liquidation thereof in whole or in part together with interest thereon and all costs relating to liquidation and collection (including reasonable attorneys’ fees).

 18. RECOMMENDATIONS AND RESEARCH; NO DISCRETIONARY AUTHORITY – Customer acknowledges and agrees that (i) any trading
recommendations and market or other information communicated to Customer by Broker are wholly incidental to the conduct of Broker’s business; (ii) such recommendation and information, although based upon information obtained from sources
believed by 

  
 8 

 
Broker to be reliable, may be incomplete, may not have been verified and may be changed without notice to Customer and may be inconsistent with proprietary investments or other recommendations of
Broker or any of Broker’s affiliates, (iii) Broker makes no representation, warranty or guarantee as to the accuracy or completeness of any market or other information or trading recommendations furnished to Customer or as to the tax
consequences of Customer Transactions, and Broker shall be under no obligation to provide any ongoing advice; (iv) it has not relied on any recommendations or information furnished by Broker; (iv) Broker shall have no discretionary
authority, power or control over any decisions made by or on behalf of Customer in respect of the Account, whether or not any advice of Broker is utilized in any such decision, and (v) it is solely responsible for making the decisions whether
to effect Transactions, including the timing, quantity and price of such Transactions. 
 19. DOCUMENTATION DELIVERY 

A. Upon execution of this Agreement, and from time to time thereafter promptly following any amendment or modification of the terms of
any of the documents identified below (if applicable), or at any time promptly upon request by Broker, Customer shall deliver to Broker the following documents: 
 (i) certificate of authority and specimen signatures of the persons executing this Agreement along with a copy of all constitutive documents (including any organizational documents, as applicable);

 (ii) if any person is authorized by Customer to enter into Transactions hereunder on behalf of Customer (an
“Investment Manager”), an executed copy of agreement or document governing or evidencing the grant of full discretionary power and authority of the Investment Manager to enter into Transactions hereunder on behalf of Customer and to
bind Customer and all its assets (the “Investment Management Agreement”), along with copies of the relevant certificate of authority and specimen signatures; 
 (iii) private placement memorandum or other offering document (if applicable) of Customer, 
 (iv) statement of Customer’s investment policies, procedures, restrictions, or guidelines; and 
 (v) a list of all individuals authorized to enter into Transactions on behalf of Customer. 
 B. Within six calendar months following the end of the relevant fiscal year end. Customer shall deliver to Broker a copy of its most recently available annual report containing audited financial
statements for the most recently ended fiscal year certified by its independent public accountants as fairly presenting its financial condition and results of operations for and as at the close of such fiscal year. 

20. REPRESENTATIONS, WARRANTIES AND AGREEMENTS 
 A. Each party represents, warrants to and agrees with the other party that: 
 (i)
it has full power and authority to enter into this Agreement and to engage in the Transactions and perform its obligations hereunder and contemplated hereby; 
 (ii) it has determined that this Agreement and the I transactions contemplated hereunder do not and will not violate its charter or by-laws (or other comparable governing document) or any law, rule,
regulation, judgment, decree, or order and that this Agreement and the Transactions contemplated hereunder have been duly authorized by all necessary or proper corporate and shareholder action or other action; 

(iii) as required by any Applicable Law, each party shall create, retain and produce upon request of the applicable contract market, the
CFTC or the United Stales Department of Justice documents (such and contracts, confirmations, telex printouts, invoices and documents of title) with respect to all Transactions for its Account, including exchanges of futures for cash commodities;

  
 9 

 (iv) it consents to the electronic recording of any or all telephone conversations with the
other company (without automatic tone warning device), and waives any and all objections to the use and admissibility of same as evidence by either party in any action or proceeding arising out of the Agreement; and 

(v) it is authorized and empowered to place orders for commodity interest Transactions through one or more electronic or automated
trading systems maintained or operated by or under the auspices of an Exchange. 
 B. Customer represents, warrants to and
agrees with Broker that: 
 (i) except as disclosed on the accompanying New Account Information, Customer is acting solely as
principal and no one other than Customer has any interest in she account; 
 (ii) the information provided on the New Account
Information and Commodity Option Customer Statement is true, accurate and complete when made and as of the date of this Agreement; 
 (iii) unless otherwise stated in writing not later than the time an order is given to Broker, every Transaction in the Account will be a bona fide hedging Transaction (as defined in CFTC Regulation
§ 1.3(z)); 
 (iv) (a) if Customer is a corporation, it is duly organized under the laws of the jurisdiction set forth in
the accompanying New Account Information Application, or (b) if Customer is a partnership, it is duly organized pursuant to a written partnership agreement and the general partner executing this Agreement is duly authorized to do SO under the
partnership agreement; 
 (v) it has determined that this Agreement and the Transactions contemplated hereunder (a) do not
conflict with or result in the breach or termination of, constitute a default under or accelerate or permit the acceleration of any performance required by, any indenture, mortgage, deed of trust, lease, agreement or other instrument to which it is
a party or by which it or any of its properly is bound, and lb) do not require the consent or approval of any person or entity, except those of which will have been duly obtained, made or complied with prior to the date hereof; 

(vi) this Agreement constitutes a legal, valid and binding obligation of the Customer enforceable against it in accordance with its
terms; 
 (vii) it is a sophisticated investor and has determined that entering into Transactions is appropriate and prudent in
all respects and docs not and will not violate any constitutive documents. Statute, rule, regulation, judgment, or decree to which it or its property is subject or by which its property is bound or any documents or instruments governing the
investing or trading activities of Customer; 
 (viii) it is an “eligible contract participant”, as such term is
defined under the CEA, with respect to any relevant Transactions; and 
 (ix) by entering into any performance of any
Transaction, Customer will riot violate the applicable provisions of the Investment Advisers Act of 1940, as amended, the Investment Company Act of 1940, as amended, or the CEA (including, without limitation, the rules, regulations and written
interpretations of applicable regulatory authorities and their staffs). 
 21. PAYMENT NETTING AND SET-OFF - Unless specified by Broker
otherwise and to the extent permitted by applicable Law, all payments between Customer and Broker shall be made on a net 

  
 10 

 
bases, and Broker shall not be obligated to make any payment In Customer unless and until Broker has received from Customer the appropriate documents, deliveries or good funds then due and owing.
Customer acknowledges that it shall be a discharge of any payment or delivery obligation of Broker for such payment 
 As permitted by
Applicable Law, Broker is entitled at any time, including upon the occurrence of an Event of Default, and without notice to Customer, to set off any amount (whether actual or contingent, present or future and regardless of the currency, place of
payment or place of account) at any time owing between Customer and any of Broker’s affiliates under this Agreement or otherwise, against any credit balance or Collateral with Broker or any of Broker’s affiliates. Broker will give Customer
notice of any set-off effected under this clause as soon as practicable after the set-off is effected, but failure to give such notice or to do so within such time shall not affect the validity of the set-off. Any such resulting from liquidation and
termination under another agreement may be set off against the liquidation amount as determined under this Agreement. I his clause shall be without prejudice and in addition to any other right of set-off, combination of accounts, lien or other right
to which Broker or any of its affiliates is at any time otherwise entitled (whether by operation of law, contract, or otherwise). 
 22.
FINANCIAL AND OTHER INFORMATION – Customer shall provide to Broker such financial and other information regarding Customer as Broker may at any time and from time to time reasonably request. Customer shall notify Broker promptly of any
material adverse changes to the financial condition of Customer, regardless of whether Customer has previously furnished financial information to Broker. 
 Customer shall provide Broker with any information necessary to fulfill Broker’s obligation to respond to any inquiry or investigation conducted by a regulatory or self-regulatory body having
jurisdiction over Broker regarding the Account. 
 23. RELIANCE ON THE INVESTMENT MANAGER – Pursuant to the Investment Management
Agreement and in connection with Customer’s entering into any Transactions hereunder. Broker will be entitled to rely conclusively upon any request instruction, certificate, opinion, or other document furnished to Broker by an employee or agent
of the Investment Manager that Broker reasonably believes to be genuine in connection with this Agreement and the Transaction as though such request, instruction, certificate, opinion, or other document was furnished by Customer. 

24. RECORDING AND MONITORING COMMUNICATIONS – Customer and Broker each consent to the tape recording and real time monitoring of all
telephone conversations between its representatives and those of the other party hereto. All telephone conversations may be recorded without use of a warning tone Records of such conversations are each respective party’s sole property and shall
be accepted by the other party as conclusive evidence of the content of such conversations In addition, communications by mail, electronic communications system, facsimile or otherwise may be monitored and recorded by each of Customer and Broker.

 25. FLOOR BROKERS AND CLEARING BROKERS – Broker, for and on behalf of Customer, is authorized in its sole discretion to select
floor brokers and on Exchanges where Broker is not a clearing member, unaffiliated clearing brokers, which will act as brokers and agents in connection with Transactions for the Accounts. 
 26. FOREIGN CURRENCY – If Broker enters into any Transaction for Customer effected in a currency other than U.S. dollars, any profit or loss caused by changes in the rate of exchange for such
currency shall be for Customer’s account and risk, but all margin for, and the profit or loss of, such Transaction shall be set forth in U.S. dollars (unless otherwise designated by Broker) at a rate of exchange reasonably determined by Broker
on the basis of prevailing market rates. 

  
 11 

 27. MODIFICATION OF AGREEMENT BY BROKER; NON WAIVER PROVISION – This Agreement may only be
altered, modified or amended by mutual written consent of the parties, except that if Broker notifies Customer in writing of a change in this Agreement and on the fifth business day next following the date that notice is given Customer effects a
commodity interest Transaction in an account. Customer agrees that such action by Customer will constitute consent by Customer to such change. The rights and remedies conferred upon Broker shall be cumulative, and its forbearance to lake any
remedial action available to it under this Agreement shall not waive its right at any time or from lime to time thereafter to take such action. 

28. SEVERABILITY – If any term or provision hereof or the application thereof to any persons or circumstances shall to any extent be contrary
to any exchange, government or self-regulatory regulation or contrary to any federal, slate or local law or otherwise be invalid or unenforceable, the remainder of thin Agreement or the application of such term or provision to persons or
circumstances other than those as to which it is contrary, invalid or unenforceable, shall not be affected thereby. 
 29. SUCCESSORS AND
ASSIGNS – This Agreement shall be assignable by Broker and shall inure to the benefit of Broker, its successors and assigns. This Agreement shall be binding upon Customer and Customer’s trustees, administrators, successors and assigns,
provided, however, that this Agreement shall not be assignable by Customer without the prior written consent of Broker. 
 30. CAPTIONS
– All captions used herein are for convenience only, are not a pail of this Agreement, and are not to be used in construing or interpreting any aspect of this Agreement. 
 31. TERMINATION – Except as set forth under Section 16 (Events of Default; Remedies), this Agreement shall continue in force until written notice of termination is given by Customer or
Broker. Termination shall not relieve either party of any liability or obligation incurred prior to such notice. Customer, upon giving or receiving notice of termination, promptly will take all action necessary to liquidate or transfer all open
positions in the Account to another futures commission merchant. In the event that Customer does not liquidate or transfer to another futures commission merchant all futures and options contracts in the Account within thirty (30) days after
termination of this Agreement by Broker. Broker shall have the right to liquidate all such contracts then held in the Account and exercise any other rights set forth under Section 17 (i) through (vii) in accordance with the provisions
of Section 17 (Broker’s Right to liquidate Customer Positions) above. Upon satisfaction by Customer of all liabilities to Broker arising hereunder (including, without limitation, payment of the applicable commission with respect to the
transfer of futures and options contracts to another futures commission merchant), Broker shall transfer to another futures commission merchant all such contracts (if any) then held for the Account and all cash, securities and other property held in
the Account shall be transferred to Customer or to another futures commission merchant, as Customer may instruct, whereupon this Agreement shall terminate. The representations and indemnities contained in this Agreement shall survive any termination
of this Agreement. 
 32. ENTIRE AGREEMENT – This Agreement constitutes the entire agreement between Customer and Broker with
respect to the subject mailer hereof and supersedes any prior agreements between the parties with respect lo such subject matter. 
 33.
GOVERNING LAW; CONSENT TO JURISDICTION– IN CASE OF A DISPUTE BETWEEN CUSTOMER AND BROKER RELATING TO A CLAIM OR GRIEVANCE, (i) THIS AGREEMENT AND ITS ENFORCEMENT SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, AND
(ii) CUSTOMER WILL BRING ANY LEGAL PROCEEDING AGAINST BROKER IN, AND CUSTOMER HEREBY CONSENTS IN ANY LEGAL PROCEEDING BY BROKER TO THE JURISDICTION OF, ANY LOCAL, STATE OR FEDERAL COURT LOCATED WITHIN THE STATE AND CI TY AND COUNTY OF NEW YORK
IN CONNECTION WITH ALL LEGAL PROCEEDINGS ARISING 

  
 12 

 
DIRECTLY, INDIRECTLY OR OTHERWISE IN CONNECTION WITH, OUT OF, RELATED TO OR FROM CUSTOMER’S ACCOUNT(S), TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR BREACH THEREOF. CUSTOMER HEREBY WAIVES
ALL OBJECTIONS CUSTOMER MAY, AT ANY TIME. HAVE AS TO THE PROPRIETY OF THE COURT IN WHICH ANY SUCH LEGAL PROCEEDINGS MAY BE COMMENCED. CUSTOMER ALSO AGREES THAT ANY SERVICE OF PROCESS MAILED TO CUSTOMER AT ANY ADDRESS SPECIFIED TO BROKER SHALL BE
DEEMED A PROPER SERVICE OF PROCESS ON THE UNDERSIGNED. IF A CLAIM OR GRIEVANCE, OR COUNTERCLAIM WITH RESPECT THERETO, IS TO BE ARBITRATED HEREUNDER, THE ARBITRATION PROVISIONS SHOULD BE AGREED TO; OTHERWISE “CLAIMS OR GRIEVANCES”, AND
COUNTERCLAIMS WITH RESPECT THERETO, WILL BE SUBJECT TO ADJUDICATION AS OTHERWISE SET FORTH IN THIS SECTION. 
 Customer need not agree to
the following provisions of this Agreement to open an account with Broker to express agreement to such provisions, Customer must check the boxes below. 
 34. ARBITRATION PROVISIONS – Notwithstanding any of the provisions in Section 33 (Governing Law, Consent to Jurisdiction) above, upon Customer’s consent as indicated in this
Section 34 (Arbitration Provisions), any controversy arising out of or relating to the Account of the Customer or to Transactions with Broker pursuant to this Agreement, or the breach thereof, shall he settled by arbitration in accordance with
the rules, then in effect, of the NFA, the contract market upon which the Transaction giving rise to the claim was executed or the New York Stack Exchange Inc. as the Customer may elect (“Arbitration Forum Election”). If the
Customer docs not make such Arbitration Forum Election by registered mail addressed to Broker at its main office within forty-five days after demand by Broker that the Customer make such election, then Broker may make such Arbitration Forum
Election. Broker agrees to pay any incremental fees which may he assessed by the forum chosen by it for the provisions of a “mixed panel” or arbitrators, unless the arbitrators determine that the Customer has acted in bad faith in
initiating or conducting the proceedings. Judgment upon any award rendered by the arbitrators may be entered in any court having jurisdiction thereof. 
 IN ADDITION TO FOREIGN FORUMS, THREE FORUMS EXIST FOR THE RESOLUTION OF COMMODITY DISPUTES: CIVIL COURT LITIGATION, REPARATIONS AT THE COMMODITY FUTURES TRADING COMMISSION (CFTC) AND ARBITRATION
CONDUCTED BY A SELF-REGULATORY OR OTHER PRIVATE ORGANIZATION. 
 THE CFTC RECOGNIZES THAT THE OPPORTUNITY TO SETTLE
DISPUTES BY ARBITRATION MAY IN SOME CASES PROVIDE MANY BENEFITS TO CUSTOMERS, INCLUDING THE ABILITY TO OBTAIN AN EXPEDITIOUS AND FINAL RESOLUTION OF DISPUTES WITHOUT INCURRING SUBSTANTIAL COST’S. THE CFTC REQUIRES, HOWEVER, THAT EACH CUSTOMER
INDIVIDUALLY EXAMINE THE RELATIVE MERITS OF ARBITRATION AND THAT YOUR CONSENT TO THIS ARBITRATION AGREEMENT BE VOLUNTARY. 

BY AGREEING TO THESE PROVISIONS, CUSTOMER (I) MAY BE WAIVING ITS RIGHT TO SUE IN A COURT OF LAW AND (2) IS AGREEING TO BE
BOUND BY ARBITRATION OF ANY CLAIMS OR COUNTERCLAIMS WHICH CUSTOMER OR BROKER MAY SUBMIT TO ARBITRATION UNDER THIS AGREEMENT. CUSTOMER IS NOT, HOWEVER, WAIVING ITS RIGHT TO ELECT INSTEAD TO PETITION THE CFTC TO INSTITUTE REPARATIONS PROCEEDINGS UNDER
SECTION 14 OF THE COMMODITY EXCHANGE ACT WITH RESPECT TO ANY DISPUTE WHICH MAY BE ARBI TRATED PURSUANT TO THIS AGREEMENT. IN THE EVENT A DISPUTE 

  
 13 

 
ARISES, CUSTOMER WILL BE NOTIFIED IF BROKER INTENDS TO SUBMIT THE DISPUTE TO ARBITRATION. IF CUSTOMER BELIEVES A VIOLATION OF THE COMMODITY EXCHANGE ACT IS INVOLVED AND IF CUSTOMER PREFERS TO
REQUEST A SECTION 14 “REPARATIONS” PROCEEDINGS BEFORE THE CFTC. CUSTOMER WILL HAVE 45 DAYS FROM THE DATE OF SUCH NOTICE IN WHICH TO MAKE THAT ELECTION. 
  

	 	 ̈	Customer agrees to arbitration. 

  

	 	þ	Customer does not agree to arbitration. 

 35.
SUBORDINATION AGREEMENT – Funds of Customers trading on United States contract markets may be held in accounts denominated in a foreign currency with depositories located outside the United States or its territories if the Customer is
domiciled in a foreign country or if the funds arc held in connection with contracts priced and settled in a foreign currency. Such accounts are subject to the risk that events could occur which would hinder or prevent the availability of these
funds for distribution to customers. Such accounts also may be subject to foreign currency exchange rate risks. 
 Customer hereby authorizes
the deposit of funds into such foreign deposits on Customer understands that, for Customers domiciled in the United States, this authorization permits the holding of funds in regulated accounts offshore only if such funds arc used to margin,
guarantee or secure positions in such contracts or accrue as a result of such positions. 
 In order to avoid die possible dilution of other
customer funds, a Customer who has funds held outside the United States must further agree that his claims bused on such funds will fee subordinated as described below in the unlikely event both of the following conditions are met (1) the
customer’s futures commission merchant is placed in receivership or bankruptcy, and (2) there are insufficient funds available for distribution denominated in the foreign currency as to which the customer has a claim to satisfy all claims
against those funds. 
 Customer hereby agrees that if both of the conditions listed above occur, Customer’s claim against Broker’s
assets attributable to funds held overseas in a particular foreign currency may be satisfied out of segregated customer funds held in accounts denominated in dollars or other foreign currencies only after each customer whose funds are held in
dollars or in such other foreign currencies receives its pro-rata portion of such funds. It is further agreed that in no event may a customer whose funds arc held overseas receive more than its pro-rata share of the aggregate pool consisting of
funds held in dollars, funds held in the particular foreign currency, and non-segregated assets of the; futures commission merchant. 
  

	 	þ	Agreed 

 36. CUSTOMER ACKNOWLEDGEMENTS,
CONSENTS, AND ELECTIONS 
 Risk Disclosure Acknowledgement – Customer expressly acknowledges and agrees that it has received
from Broker, read and understands the CFTC Risk Disclosure Statement for Futures and Options (which includes disclosure required by CFTC Regulations 1.55, 30.6, 33.7, and 190.10(c)), and the additional disclosures, notices, and consents as provided
in Schedule 1 to this Agreement. 
  

	 	þ	Acknowledge and agreed 

  
 14 

 Consent To Delivery Of Confirmations By Electronic Means – Customer expressly agrees to the
electronic submission of confirmations and monthly statements as described in Section 12 captioned, “Confirmations” of this agreement. 
  

	 	þ	Agreed 

 Election Regarding Liquidation of
Open Contracts (CFTC Regulation 190.06(d)) – Customer specifies and agrees, with respect to hedging Transactions in the Account, that in the unlikely event of Broker’s bankruptcy, it prefers that the bankruptcy trustee (check
appropriate box): 
  

	 	 ̈	Election A – Liquidate all open contracts without first seeking instructions either from or on behalf of Customer 

 

	 	    	or 

  

	 	þ	Election B – Attempt to obtain instructions with respect to the disposition of all open contracts. 

(If no box is checked, Customer shall be deemed to elect A.) 
 37. LIMITATIONS OF LIABILITY OF EACH CLIENT AND SHAREHOLDERS 
 A.
Notwithstanding anything to the contrary provided herein. Broker agrees that the liabilities of each Customer or Account shall be limited such that the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing and
relating to this Agreement with respect to a particular Customer or Account shall be enforceable against the assets of that particular Customer or Account only, and not against the assets of any other Customer or Account. 

B. It is expressly acknowledged and agreed that the obligations of each Customer or Account hereunder shall not be binding upon any
shareholder, officer, employee or agent of such Customer or Account, personally, this Agreement has been duly executed by each Customer or Account and such execution shall be deemed to have been made by any of them individually or to impose any
liability on any of them personally. 

  
 15 

 The undersigned has read, understands and agrees to all the provisions of this Agreement. 

BNP Paribas S&P Dynamic Roll Global Commodities Fund, a Series of the BNP PARIBAS EXCHANGE TRADED TRUST. 

 

			
	 BNP Paribas Quantitative Strategies, LLC, as managing owner and sponsor of each series

		
	By	 	 /s/ M. Andrews Yeo

		 	Authorized Signature
		
		 	 M. Andrews Yeo, CEO

		 	Print Name and Title

					
			
		 	 April 13, 2012
	 	
		 	Date	 	

			
	
	BNP PARIBAS PRIME BROKERAGE, INC.
		
	By:	 	 /s/ Omar Oliver

		 	 Omar Oliver
 Managing
Director
 PBI Commodity Futures

		
		 	 /s/ John Bohan

		 	 John Bohan
 Managing
Director
 PBI Commodity Futures

		 	Print Name and Title

					
			
		 	 April 13, 2012
	 	
		 	Date	 	

  
 16 

 APPENDIX A 
 General Partnership / Limited Partnership/ Limited Liability Partnership Authorization 
  

 

					
	 ̈ General Partnership	  	 ̈ Limited Partnership (LP)	  	 ̈ Limited Liability Partnership (LLP)

 In consideration of BNP Paribas Commodity Futures, Inc. (“BNP Paribas”), carrying one or more accounts
(each, an “Account”) in commodity interests, including commodities, commodity futures contracts and related options (collectively, “Contracts”), in the name of
                                     (the
“Customer”), duly organized and existing under the laws of the State of                         , of
which each of the undersigned is an authorized partner, the undersigned jointly and severally and on behalf of the Customer represent and certify to BNP Paribas that the names, titles and signatures of each person authorized to buy and sell
Contracts and otherwise act on behalf of the Customer pursuant to the terms of the Customer Agreement are as follows: 
  

					
	 Name of Authorized
Individual            
  

 
	  	Title	  	Signature
	 Name of Authorized Individual

 
  
	  	Title	  	Signature
	 Name of Authorized Individual

 
  
	  	Title	  	Signature
	 Name of Authorized Individual
	  	Title	  	Signature

 and that BNP Paribas may absolutely rely on all instructions, whether verbal or written, received by it from the
above-named individuals, or any other persons with apparent authority, with respect to any of the transactions referred to above without further inquiry until it receives written notice of a change from the Customer. 

The undersigned further authorizes BNP Paribas, in the event of death or retirement of any of the partners of the Customer, or the termination of the
Customer, to take such actions, require such documentation, retain such portion of or restrict transactions in any Account as BNP Paribas may deem advisable to protect BNP Paribas against any liability, penalty or loss under any present or future
law or otherwise. It is further agreed that in the event of the death or retirement of any partner of the Customer, the remaining partners will immediately cause BNP Paribas to be notified in writing of such fact. 

 
 [Signature Page Follows] 

  
 17 

 NOTE: ALL GENERAL PARTNERS MUST SIGN 

 
  

					
	 Name

 
  
	  	Signature	  	Date
	 Name

 
  
	  	Signature	  	Date
	 Name

 
  
	  	Signature	  	Date
	 Name

 
  
	  	Signature	  	Date

  
 18 

 APPENDIX A 
 Corporate / LLC Resolution and Trading Authorization 
  

 

					
	 ̈ Corporation	  	 ̈ Limited Liability Company (LLC)	  	

 I, being the duly authorized signor of
                                     (the
“Customer”) organized and existing under the laws of the State of
                                , do hereby certify that (i) the following
resolutions (the “Resolutions”) have been adopted at a meeting of the board of directors or members of the Customer (as applicable) duly called and held on the date set forth below, or by other duly authorized action, (ii) the
Resolutions are now in force, have not been amended, rescinded or revoked, and are in no way in conflict with any of the provisions of the governing instruments of the Customer, and (iii) all agreements executed pursuant to the Resolutions
shall be, continuously thereafter from the date they are executed, official records of the Customer: 
  

	 	1.	AUTHORITY TO SIGN CONTRACT. RESOLVED, that
                                 who is the
                                 of the Customer is hereby authorized to
execute, on behalf of the Customer, any and all documentation required of the Customer in order to open and maintain an account in commodity interests, including commodities, commodity futures contracts and related options (together,
“Contracts”) with BNP Paribas Commodity Futures, Inc. (“BNP Paribas”), including, but not limited to, the New Account Information and the Customer Agreement (copies of which shall be attached to and made a part of these
Resolutions). 

  

	 	2.	AUTHORITY TO TRADE. FURTHER RESOLVED, that the names, titles and signatures of each person authorized to buy and sell Contracts and otherwise act on behalf of the
Customer pursuant to the terms of the Customer Agreement are as follows: 

  
  

					
	 Name of Authorized
Individual            
  

 
	  	Title	  	Signature
	 Name of Authorized Individual

 
  
	  	Title	  	Signature
	 Name of Authorized Individual

 
  
	  	Title	  	Signature
	 Name of Authorized Individual
	  	Title	  	Signature

  
 19 

 and that BNP Paribas may absolutely rely on all instructions, whether verbal or written, received by it from
the above-named individuals, or any other persons with apparent authority, with respect to any of the transactions referred to above without further inquiry until it receives written notice of a change from the Customer. 

IN WITNESS WHEREOF, I have hereunto set my hand as of
                                , 20    . 

 

	
	
	  
	 Authorized Signor Signature

	
	  
	 Name and Title

  
  

Date Resolutions Adopted 

  
 20 

 APPENDIX A 
 Trust Authorization 
  

 
 In consideration of BNP Paribas Prime Brokerage,
Inc. (“BNP Paribas”), carrying one or more accounts (each, an “Account”) in commodity interests, including commodities, commodity futures contracts and related options (collectively, “Contracts”),
in the name of BNP Paribas S&P Dynamic Roll Global Commodities Fund (the “Customer”), duly organized and existing under the laws of the State of Delaware, of which the undersigned is a trustee, the undersigned represents
and certifies to BNP Paribas that: 
  

	 	(i)	the undersigned has the power arid authority under the trust agreement of the Customer and applicable law to enter into all transactions, including purchases and sales
of any Contracts, deliver any documents necessary to open and maintain an Account and otherwise act on behalf of the Customer pursuant to the terms of the Customer Agreement. 

 

	 	(ii)	the names, titles and signatures of each person authorized to buy and sell Contracts and otherwise act on behalf of the Customer pursuant to die terms of the Customer
Agreement arc as follows: 

  

					
	 LUDOVIC BLACHEZ
	  	 Managing Director
	 	 /S/ LUDOVIC BLACHEZ

	Name of Authorized Individual	  	Title	 	Signature
			
	 PAUL DRUMM
	  	 Managing Director
	 	 /S/ PAUL DRUMM

	Name of Authorized Individual	  	Title	 	Signature
			
	  
	  	  
	 	  

	Name of Authorized Individual	  	Title	 	Signature
			
	  
	  	  
	 	  

	Name of Authorized Individual	  	Title	 	Signature

  

	 	(iii)	BNP Paribas may absolutely rely on all instructions, whether verbal or written, received by it from any of the above-named individuals, the undersigned, or any other
persons with apparent authority, with respect to any of the transactions referred to above without further inquiry until it receives written notice of a change from the Customer. 

The undersigned further authorizes BNP Paribas, in the event of the termination of the Customer, to lake such actions, require such documentation, retain
such portion of or restrict transactions in any Account as BNP Paribas may deem advisable to protect BNP Paribas against any liability, penalty or loss under any present or future law or otherwise. It is further agreed that in the event of the
death, disability, incapacity, incompetency or revocation of authority of the undersigned, the Customer will immediately cause BNP Paribas to be notified in writing of such fact. 

[Signature Page Follows] 

  
 21 

					
	 M. Andrew Yeo
	  	 /s/ M. Andrew Yeo
	 	 April 13, 2012

	Name	  	Signature	 	Date

  
 22 

 APPENDIX B 
 Discretionary Trading Authorization 
 The undersigned customer (“Customer”)
hereby authorizes BNP Paribas Quantitative Strategies LLC as Customer’s Agent and attorney-in-fact (“Agent”), and revokes all prior powers of attorney relating to Customer’s Account at BNP Paribas Prime Brokerage. Inc.
(“Broker”) to buy. receive, and sell (including short sales) securities, futures contracts, commodities, forward contracts, commodity options and or contracts relating to the same (including, but not limited to, exchange for physical,
exchange for swap, exchange for options, exchange for risk, or against actuals transactions) on margin or otherwise in accordance with your terms and conditions for Customer’s account and risk in Customer’s name or number on Broker’s
books. 
 Broker is authorized lo follow the instructions of the aforesaid Agent in every respect concerning Customer’s account with
Broker, and to make transfers and/or deliveries of securities and payment of monies to such agent or as such agent may order and direct. In all matters necessary or incidental to the conduct of the account of Customer, the aforesaid agent is
authorized to act for Customer in the same manner and with the same force and effect as Customer might or could do. 
 Customer hereby ratifies
and confirms any and all transactions with you heretofore or hereafter made by the aforesaid Agent on behalf of or for the account of Customer. 

This authorization is in addition to (and in no way limits or restricts) any rights you may have under any other agreement between Customer and Broker.

 Broker shall have no liability for following the instructions of the Agent, and the undersigned shall never attempt to hold Broker liable for
the Agent’s actions or inactions, live undersigned understands that Broker does not, by implication or otherwise, endorse the operating methods of such Agent The undersigned hereby releases Broker from any and all liability to the undersigned
or to anyone claiming through the undersigned with respect to damage, losses or lost profits sustained or alleged to have been sustained as a result of Broker following the Agent’s instructions or for any matter arising out of die relationship
between the Agent and the undersigned and shall indemnify Broker from any and all losses, damages, liabilities and expenses of any kind or nature whatsoever, arising therefrom. I he undersigned agrees to hold Broker harmless and to indemnify it as
to any expense, damage or liability sustained by it with respect to any and all acts and practice of the Agent and attorney-in-fact regarding this account, including all losses arising therefrom and debit balance(s) due thereof. 

This authorization is a continuing one and shall remain in full force and effect until revoked by Customer by a written notice to BNP Paribas Prime
Brokerage, Inc., but such revocation shall not affect any liability in any way resulting from transactions initiated prior to the receipt of such notice of revocation by you. This authorization shall inure to the benefit of your present firm and of
any successor firm or firms irrespective of any change or changes at any time in personnel thereof or for any cause whatsoever, and of the assigns of your present firm or any successor firm. 
 Customer acknowledges that it has received from its Agent and attorney-in-fact cither a disclosure document or an explanation why a disclosure document is not required, as set forth in the Advisor’s
Agreement, third party letter, or NFA Rule 2-8(e). 
 [Signature Page Follows] 

  
 23 

					
	Name of Agent on behalf of	  	BNP Paribas Quantitative Strategies LLC	  	
	Customer:	  	  
	  	 
			
	Address of Agent:	  	 787 Seventh Avenue, 8th Floor, New York, NY 10019
	  	 

  

							
	 /s/ M. Andrews Yeo
	  	 M. Andrews Yeo
	 	 April 13, 2012
	  	
	Customer Authorized Signature	  	Title President	 	Date	  	
				
	  
	  	  
	 	  
	  	
	Customer Authorized Signature	  	Title	 	Date	  	

  
 24 

 APPENDIX B-1 
 Automatic Termination of Discretionary Trading Authorization 
 In the event that die
undersigned customer (“Customer”) account(s) with BNP Paribas Prime Brokerage, Inc. (“Broker”) arc closed for any reason, Broker is authorized to consider this Customer’s letter of revocation of the Discretionary Trading
Authorization required by the rules of the various contract markets. 
 Each of the undersigned hereby agrees to the terms and conditions as set
forth in this Letter of Automatic Termination. 
  

					
	  
	  	  
	 	  

	Customer Authorized Signature	  	Title President	 	Date
			
	  
	  	  
	 	  

	Customer Authorized Signature	  	Title	 	Date

  
 25 

 APPENDIX B-3 
 Advisor’s Agreement 
 The undersigned Agent, which is authorized to exercise
discretion and to act on behalf of Customer as designated in the foregoing Discretionary Account Authorization, with respect to Customer’s account, acknowledges and agrees as follows: 

 

	 	1.	Agent is duly authorized and empowered to execute and deliver this Acknowledgment and to effect transactions through BNP Paribas Commodity Futures, Inc.
(“Broker”) as contemplated by the foregoing Customer Agreement and accompanying agreements and disclosures. 

  

	 	2.	Agent has reviewed the registration requirements of the Commodity Exchange Act and National Futures Association pertinent lo Commodity Pool Operators (“CPO”)
and Commodity Trading Advisors (“CTA”) and warrants that it is in compliance with such requirements with respect to Customer’s account, as applicable. 

 Please check applicable statement 
 In accordance with applicable rules and regulations of
the Commodity Futures Trading Commission and the National Futures Association, if Agent has provided Customer with a disclosure document, a copy of it must be furnished to Broker. 

 

	 ̈	Agent has provided a disclosure document to Customer 

  

	x	Agent is not required to provide a disclosure document to Customer for the following reason. 

 If a disclosure document has not been furnished to Customer, please indicate below the exemption from registration as a CTA, or if registered as a CTA, indicate the exemption from providing a disclosure
document: 
     x    Agent has provided advice to
15 or fewer persons during the past 12 months and does not hold itself our generally to the public as a Commodity Trading Advisor. 

           Agent is a foreign based entity, located outside the United State, and only
solicits or exercises discretionary trading authority over the accounts of non-U.S. persons. 

           Agent operates under an exemption from providing a disclosure document pursuant
to CFTC Regulation 4.7 (Provide copy of notice of claim for exemption filed with the National Futures Association pursuant to CFTC Regulation 4.7(d)) 
            Agent operates under the exemption pursuant to CFTC Regulation 4.14(a)(8). (Provide copy of notice of claim for exemption filed
with the National Futures Association pursuant to CFTC Regulation 4.14(a)(8)(iii) 
  

			
	           Other (describe)	 	  

  

					
	 /s/ M. Andrews Yeo
	  	 M. Andrews Yeo
	 	 April 13, 2012

	Agent Authorized Signature	  	Title President	 	Date
			
	  
	  	  
	 	  

	Agent Authorized Signature	  	Title	 	Date

  
 26 

 APPENDIX C 
 New Account Information 
  

			
	Mailing Address for All Notices, Confirms, Etc.

			
		
	Name of Account:	 	 BNP Paribas S&P Dynamic Roll Global Commodities
fund

			
		
	Attn:	 	 Paul Drumm

			
		
	Mailing Street Address:	 	 787 Seventh Avenue. 8th Floor

		 	New York
		 	 NY 10019

		
		 	  

		
		 	  

  

			
	State of Incorporation of Country of Organization	 	 Delaware

			
		
	Telephone Number	 	

			
	Area Code	 	 (212 ) 841-2000

			
		
	Telefax Number	 	

			
	Area Code	 	 (    )

 Tax I.D. Number 
 Be sure to complete enclosed W-8 or W-9 for IRS regulation 
 Duplicate Mailing
Instructions: 
 Duplicate
Statement/Confirmation   ̈  Yes     ̈  No 
 (Attach list of addresses if more than one) 
 Financial Information 

Approximate net worth: (Difference between total assets and total liabilities) 

$15,000,000 

Approximate liquid net worth: (Cash, unmargined securities, etc.) Do not include equity in home or insurance. 

$15,000,000 

Equity in securities account (if applicable) 
 $ 

  
 27 

			
	Bank Reference	 	

			
		
	Name:	 	  

			
		
	Mailing Street Address:	 	  

		
		 	  

		
		 	  

		
		 	  

							
	Bank Official:	 	  
	  	Tel.	  	     (    )

 Discretionary Accounts 
 Will Customer grant another person/entity trading authority over this account?  x  Yes     ̈  No 
 If yes, (1) Customer completes Appendix B, B-l, and B-2, and (2) Advisor
completes Appendix B-3 
 Does this account control the trading or have a financial interest in any other BNP Paribas Commodity Futures, Inc
account?   ̈  Yes    x  No 
 If yes, please identify account numbers. 
 Account will he used for either: (check only one)

 x  Speculation     ̈  Hedging 
 Positions and transactions in this Account in the following commodities arc
for bona fide hedging purposes.: 
  

			
	  
	  	  

	  
	  	  

	  
	  	  

 Do you have Commodity Futures/Commodity Options trading experience? 

x  Yes    
 ̈  No 
 a) If yes, please describe type and duration: 

b) If yes, please name all brokerage houses previously used. 
  

	
	                       ̈  Active     ̈  Inactive

	
	                       ̈  Active     ̈   Inactive

  
 28 

 Are you an “Affiliated Person” of a Futures Commission Merchant or an Introducing Broker?  ̈  Yes   ̈ No 
 (The CFTC
definition of an “affiliated person* is - ” any general partner, officer, director, owner of more than ten percent of live equity interest, correspondent, agent, or person associated therewith, and any relative or spouse of any of the
foregoing persons, or any relative of such spouse, who shares the same home as any of the foregoing persons”) 
 Are you registered with
the Commodity Futures Trading Commission and a member of the National Futures Association? 

					
	x  Yes   ̈ No	  		  	
			
	If yes, in what capacity?	  		  	
	 ̈  Futures Commission Merchant	  	 ̈  Commodity Trading Advisor	  	
	x  Commodity Pool Operator	  	 ̈  Associated Person	  	
	 ̈  Introducing Broker	  		  	

 Are you a member of any commodity exchange? 
  ̈  Yes  x No 
 If yes, please name all exchanges 
 Is there currently any pending litigation, disputed
accounts, or other unresolved matters between commodity or security brokers and this entity or any of its officers, directors, partners, or any affiliate? 
  ̈  Yes x  No 
 (If yes, please describe briefly) 
 Attach a copy of your latest audited financial
statements and please mail future updates to: 
 BNP Paribas Commodity Futures, Inc. 

787 Seventh Avenue 
 New York, New York 10019 
 [CONTINUED ON THE NEXT PAGE] 

  
 29 

 Eligible Contract Participants / Eligible Swap Participants 

Any Customer that is classified by Section 13(12) of the Commodity Exchange Act (“CEA”) as an eligible contract participant
(“ECP”) is permitted to engage in certain transactions (such as entering into block trades or Exchange for Swap trades) that are not generally available to non-ECPs (i.e., retail customers). Likewise, any Customer that is classified as an
Eligible Swap Participant (“ESP”) by CFTC Regulation 35.1(b)(2) is permitted to engage in certain transactions (such as cleared agricultural swaps on ICE Futures US) 
 Please indicate your status below: 

 ̈  Customer is not an Eligible Contract Participant. 

 ̈  Customer is not an Eligible Swap Participant. 

x  Customer is an Eligible Contract Participant pursuant to Section 1a(12)
of the CEA. indicate the specific subsection of the Commodity Exchange Act under which customer meets the criteria for being an Eligible Contract
Participant                     
 x  Customer is an Eligible Swap Participant pursuant to CFTC Regulation 35.1(b)(2). Indicate the specific subsection of the CFTC Rule in which
customer meets live criteria for being an Eligible Swap Participant                     
 Customer agrees to notify BNP Paribas Commodity Futures, Inc., in writing, when its no longer meets the criteria to be an Eligible Contract Participant or an Eligible Swap Participant. 

THE STATEMENTS MADE ON THIS FORM ARE TRUE AND CORRECT TO THE BEST OF MY KNOWLEDGE 

 

			
	Customer Name:	 	 BNP Paribas S&P Dynamic Roll Global Commodities
Fund

			
		
	By:	 	 /s/ M. Andrews Yeo

		 	Authorized Signature
		
		 	 M. Andrews Yeo, CEO

		 	Print Name and Title
		
		 	 April 13, 2012
 Date

  
  

For Office Use Only 

 
  

			
	Account Number:	 	
		
	Supervisor Approval:	 	  

		
	Date	 	

  
 30 

					
			
	 Form W-9
 (Rev. January 2011)
 Department of the Treasury
 Internal Revenue Service
	  	 Request for Taxpayer

Identification Number and Certification
	 	 Give Form to the requester. Do not
send to the IRS.

																													
	 Print or type
 See 
 Specific Instructions

on page 2.
  
	  	  
 Name (as
shown on your income tax return)
 BNP Paribas S&P Dynamic Roll Global Commodities Fund FKA BNP Paribas Quantitative
Strategies
LLC
  

	  	  
 Business
name/disregard if different from above
  
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	Check appropriate box for federal tax	  	 	  	 	  	 
	  	classification
required	  	 ̈
	  	individual/
sole proprietor	  	 ̈
	  	C Corporation	  	 ̈
	  	S Corporation	  	þ
	  	Partnership	  	 ̈
	  	TrustWestate	  	 	  	  
  ̈
	  	  
 Exempt
payment

	  	  
 þ Limited liability
company, Enter the tax classification (C:C corporation, S:S corporation, P:partnership) u
	  	  
 P
	  	  
	  	  
  ̈ Other (See
instructions) u
	  		  		  		  		  	  
	 	  	  
 Address (number, street, and apt. or suite no.)
 C/O BNP Paribas Exchange Traded Trust - 787
Seventh Avenue
	  	  

Requester’s name and address (optional)

	 	  	  
 City, state, and ZIP code

New York, NY 10019
	  	 	  	  	  	  
	 	  	  
 List account
number(s) here (optional)
  
	  	  	  	  	  	 

			
	Part I	  	Taxpayer Identification Number (TIN)

																							
	 Enter your TIN in the appropriate box. The TIN provided must match the name given on
the “Name” line to avoid backup withholding. For individuals, this is your social security number (SSN). However, for a resident alien, sole proprietor, or disregarded entity, see the Part I instructions on page 3, For other entities, it
is your employer identification (EIN). If you do not have a number, see How to get a TIN on page 3.
  
 Note. If the account is in more than one name, see the chart on page 4 for guidelines on whose number to enter.
	 	 Social
security number

	 	 	 	 	 	 	 	-	 	 	 	 	 	-	 	 	 	 	 	 	 	 
	 		 	
	 	 Employer identification
number
	 	
	 	2	 	7	 	-	 	2	 	5	 	7	 	6	 	4	 	1	 	7	 	

			
	Part II	  	Certification

 Under penalties of perjury, I certify that: 

 

	1.	 	The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me), and 

 

	2.	 	I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service (IRS) that I am
subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I am no longer subject to backup withholding, and 

 

	3.	 	I am a U.S. person (including a U.S. resident alien). 

 Certification instructions. You must cross out item 2 above if you have been notified by the IRS that you are currently subject to backup withholding because you have failed to report all interest
and dividends on your tax return. For real estate transactions, item 2 does not apply. For mortgage interest paid, acquisition or abandonment of secured property, cancellation of debt, contributions to an individual retirement arrangement (IRA), and
generally, payments other than interest and dividends, you are not required to sign the certification, but you must provide your correct TIN. (See the instructions on page 4.) 

 

					
	Sign
Here	  	 Signature of

/s/ Joyce Burns
 U.S. person  u 
	    	Date  u    
     9/12/2011

 
 General Instructions 
 Section references are to the Internal Revenue Code unless otherwise noted. 
 Purpose of Form

 A person who is required to file an information return with the IRS, must obtain your correct taxpayer identification number (TIN) to report,
for example, income paid to you, real estate transactions, mortgage interest you paid, acquisition or abandonment of secured property, cancellation of debt, or contributions you made to an IRA. 

Use Form W-9 only if you are a U.S. person (including a resident alien), to provide your correct TIN to the person requesting it (the requester)
and, when applicable, to: 
 1. Certify that the TIN you are giving is correct (or you are waiting for a number to be issued),

 2. Certify that you are not subject to backup withholding, or 

3. Claim exemption from backup withholding if you are a U.S. exempt payee. If applicable, you are also certifying that as a U.S. person,
your allocable share of any partnership income from a U.S. trade or business is not subject to the withholding tax on foreign partners’ share of effectively connected income. 

 

 Note. If a requester gives you a form other than Form W-9 to request your TIN, you must use the
requester’s form if it is substantially similar to this Form W-9. 
 Definition of a U.S. person. For federal tax purposes, you are
considered a U.S. person if you are: 
 — An individual who is a U.S. citizen or U.S. resident
alien, 
 — A partnership, corporation, company, or association created or organized in the
United States or under the laws of the United States, 
 — An estate (other than a foreign
estate), or 
 — A domestic trust (as defined in Regulations section 301.7701-7). 

Special rules for partnerships. Partnerships that conduct a trade or business in the United States are generally required to pay a withholding tax
on any foreign partners’ share of income from such business. Further, in certain cases where a Form W-9 has not been received, a partnership is required to presume that a partner is a foreign person, and pay the withholding tax. Therefore, if
you are a U.S. person that is a partner in a partnership conducting a trade or business in the United States, provide Form W-9 to the partnership to establish your U.S. status and avoid withholding on your share of partnership income.

 

  
  

					
	 	 	Cat. No. 10231X	 	 Form W-9 (Rev. 1-2011)

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