BNP Paribas: No peace in sight – A sustained drop in oil prices seems unlikely

Important legal information – please read. This post by BNP Paribas SA – German Branch is a product information and promotional/marketing communication intended for private and professional customers in Germany and Austria, as defined in Section 67 German Securities Trading Act (WpHG) and Section 1 Z 35 and 36 Austrian Securities Supervision Act 2018 (WAG 2018). It does not constitute an offer, advice, recommendation or solicitation to buy, sell or hold any financial asset. Nor is it a solicitation to make such an offer. In particular, this article does not constitute investment advice or an investment recommendation because it does not take into account the personal circumstances of the respective investor.

It is an advertising or marketing communication and is not subject to any legal requirement to ensure the impartiality or promotion of the independence of financial research or to prohibit trading following the dissemination of financial research. The financial instruments or securities described herein are purchased exclusively on the basis of the information contained in the respective prospectus together with any supplements and the final terms of the offer. These documents can be found in electronic form at www.derivate.bnpparibas.com by entering the respective securities identification number (WKN or ISIN) of the product or the respective base prospectus www.derivate.bnpparibas.com/service/basisprospekte be retrieved. You will also receive these documents in German or English in electronic form by email from [email protected] or in paper form in Germany free of charge from BNP Paribas Emissions- und Handelsgesellschaft mbH Frankfurt am Main, Senckenberganlage 19, 60327 Frankfurt am Main.

This advertising or marketing communication is not a substitute for personal advice. BNP Paribas SA strongly recommends that you seek personal advice before making any investment decision. In order to fully understand the potential risks and opportunities of the decision to invest in the security, it is expressly recommended that investors read the respective prospectus and any supplements, the respective final offer conditions and the respective basic information sheet (KID) carefully before making an investment decision. BNP Paribas SA (including its branches) is not a tax advisor and does not check whether an investment decision is tax-favorable for the client. The tax treatment depends on the personal circumstances of the customer and may be subject to change in the future. Prices or the value of a financial instrument can rise and fall.

Key information sheet: A Key Information Document (KID) is available for the securities described herein. You can obtain this in German or English free of charge in Germany from BNP Paribas Emissions- und Handelsgesellschaft mbH Frankfurt am Main, Senckenberganlage 19, 60327 Frankfurt am Main and at www.derivate.bnpparibas.com by entering the securities identification number (WKN or ISIN) of the security.

Warning: You are about to purchase a product that is not simple and can be difficult to understand.

Reference to existing conflicts of interest regarding the securities/underlyings discussed or products based on these securities/underlyings: As a universal bank, BNP Paribas SA, one of its affiliates or another company of the BNP Paribas Group may have extensive commercial relationships (e.g. investment banking services or lending activities) with issuers of the securities/underlying assets mentioned in the article. In doing so, you may gain knowledge or information that is not included in this advertising or marketing communication. BNP Paribas SA, one of its affiliates or another company of the BNP Paribas Group or clients of BNP Paribas SA may have transacted for their own account in or in relation to the securities/underlyings referred to in this marketing communication or act as market makers for them . These transactions (e.g. entering into own positions in the form of hedging transactions) can have an adverse effect on the market price, price, index or other factors of the respective named products and thus also on the value of the respective named products. BNP Paribas SA maintains internal organizational, administrative and regulatory arrangements to prevent and manage conflicts of interest.

Important information for US persons: The products and services described herein are not directed to US persons. This entry may not be imported or sent into the United States or distributed in the United States or to US persons.

Issuer risk: The securities described in this article are issued by BNP Paribas Emissions- und Handelsgesellschaft mbH Frankfurt am Main and guaranteed by BNP Paribas SA. The securities issued by BNP Paribas Emissions- und Handelsgesellschaft mbH Frankfurt am Main and guaranteed by BNP Paribas SA are subject to bearer bonds no deposit insurance. The investor therefore bears this when purchasing the security default risk the issuer and the guarantor. Information on the relevant rating of BNP Paribas SA is available at www.derivate.bnpparibas.com available. A total loss of the capital invested by the investor is possible.

Brands: DAX® and TecDAX® are registered trademarks of Deutsche Börse AG. STOXXSM , STOXX 50SM and EURO STOXX 50SM Index are trademarks of STOXX Limited. STOXX Limited is a Deutsche Börse company. SMI® is a registered trademark of SIX Swiss Exchange. ATX (Austrian Traded Index®) and RDX (Russian Depository Index®) are calculated and published in real-time by Wiener Börse AG. WIG 20® is a registered trademark of the Warsaw Stock Exchange. BUX® is a registered trademark of the Budapest Stock Exchange. Dow Jones Industrial AverageSM is a service mark of McGraw-Hill Companies. S&P 500® is a registered trademark of the McGraw-Hill Companies, Inc. Nasdaq 100® is a registered trademark of The Nasdaq Stock Market, Inc. NYSE Arca Gold Bugs Index is owned by NYSE Euronext. Nikkei 225® Index is owned by Nihon Keizai Shimbun, Inc. TOPIX® is owned by Japan Exchange Group. Hang Seng IndexSM and Hang Seng China Enterprises IndexSM are owned by Hang Seng Indexes Company Limited. KOSPI 200SM is owned by the Korea Stock Exchange. SET 50SM is a registered trademark of the Stock Exchange of Thailand. MSCI® is a registered trademark of MSCI Inc. IBEX 35 is a registered trademark of Sociedad de Bolsas SA CECE EUR Index ® is the property and registered trademark of Wiener Börse AG. The FTSE/ASE 20 Index® is jointly owned by the Athens Stock Exchange and FTSE International Limited and has been licensed for use by BNP Paribas SA – Germany Branch. FTSE International Limited does not sponsor, endorse or promote these products. FTSE™, FTSE® and Footsie® are registered trademarks of London Stock Exchange Plc and The Financial Times Limited and are used by FTSE International under license. NIFTY 50SM is a registered trademark of the National Stock Exchange of India. S&P Toronto Stock Exchange 60 Index® is a registered trademark of McGraw-Hill Companies Inc. Dow Jones Turkey Titans 20 Index is a service mark of Dow Jones & Company, Inc. and licensed for use by BNP Paribas SA – Germany Branch. LPX 50® and LPX® Major Market Index are registered trademarks of LPX GmbH, Basel. GPR 250 Global Index is a registered trademark of Global Property Research. MSCI® World Index and MSCI® Emerging Markets are registered trademarks of MSCI Inc.

This document was prepared by BNP Paribas SA Germany Branch, a branch of BNP Paribas SA with its headquarters in Paris, France. BNP Paribas SA Germany Branch, Senckenberganlage 19, 60327 Frankfurt am Main is regulated by the European Central Bank (ECB) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR), is authorized by the German Federal Financial Supervisory Authority (BaFin) and is subject to limited regulation by BaFin. BNP Paribas SA is authorized by the ECB and ACPR and regulated by the Autorité des Marchés Financiers in France. BNP Paribas SA is incorporated as a limited liability company in France. Registered office: 16 Boulevard des Italias, 75009 Paris, France. www.bnpparibas.com.

© 2022 BNP Paribas. All rights reserved. Reproduction or duplication of the content of this post or parts thereof in any form without our prior consent is prohibited.

ttn-28