PERSISTFOLIO HISTORICAL COHORT - RELEASE-SPECIFIC RESEARCH DATA LICENSE

Release: historical-cohort-2025-09-30-r1

1. GRANT. Subject to payment of the applicable fee, Persistfolio grants the purchaser (a named individual, or a purchasing legal entity under the Business/Commercial tier) a non-exclusive, non-transferable license to use this release of the Historical Cohort dataset ("the Data") for internal research and business purposes.

2. RESTRICTIONS. Purchaser may not resell, redistribute, sublicense, publicly repost, or use the Data to create or support a competing raw historical-constituent data feed or product. Purchaser may not represent that it has obtained any rights from S&P Global, S&P Dow Jones Indices, or any other third party by virtue of this license.

3. PERMITTED USE OF DERIVED RESEARCH. Purchaser may publish research findings, analysis, charts, summary statistics, or other derived work based on the Data, provided that such publication does not enable a recipient to reconstruct or redistribute the Data itself.

4. NO LIFETIME UPDATES. This license covers only this specific, dated release of the Data. Future releases are offered separately and are not included.

5. DISCONTINUATION. Persistfolio may discontinue this product prospectively, including in response to legal, regulatory, technical, or commercial considerations. Discontinuation does not revoke purchaser's license to a release already delivered.

6. NO AFFILIATION. Persistfolio is independent and is not affiliated with, sponsored by, endorsed by, or authorized by S&P Global or S&P Dow Jones Indices. S&P 500® is a trademark of S&P Dow Jones Indices LLC and/or its affiliates. This product is an independent research reconstruction and is not an official S&P dataset.

7. WARRANTY DISCLAIMER. THE DATA IS PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR ACCURACY. PERSISTFOLIO DOES NOT WARRANT THAT THE DATA IS COMPLETE, ERROR-FREE, OR SUITABLE FOR ANY PARTICULAR USE.

8. LIMITATION OF LIABILITY. TO THE MAXIMUM EXTENT PERMITTED BY LAW, PERSISTFOLIO'S TOTAL LIABILITY ARISING FROM THIS LICENSE OR THE DATA SHALL NOT EXCEED THE AMOUNT PAID BY PURCHASER FOR THIS RELEASE. PERSISTFOLIO SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, OR SPECIAL DAMAGES.

9. CUSTOM / REDISTRIBUTION LICENSE. A redistribution, white-label, or multi-seat enterprise license is available on request; contact Persistfolio. No blanket redistribution price is published.