Reports 2016 CTRM Market Update | Page 2

INTRODUCTION AND SCOPE Given the significant decline in commodity prices throughout the year in 2015, and impact that decline has had on the markets for CTRM/ETRM software, Commodity Technology Advisory LLC (ComTech) has recently completed an interim update to its biannual in-depth review of the CTRM software market space. This update is based upon an analysis of reported vendor results for 2015 and confidential conversations with several of the larger CTRM vendors regarding financial performance, unannounced deal closings and deal flow. Additionally, our analysis has factored in trends in the job market created by CTRM software and other sources of data. Please note: This interim analysis is a topside adjustment to previously published forecasts and is not a comprehensive top-down analysis of the market as presented in our biannual CTRM Market Trends and Outlook publication. As with all our market sizing reviews, readers should be aware that in the development of this data, as in the 2015 CTRM Market Trends and Sizing report, we must delineate boundaries for the companies and applications reflected in the scope of the analysis. ‘CTRM’ is a term that has been widely adopted by many technology companies. “Traditional” CTRM vendors have been expanding their reach outside of what has been widely and traditionally accepted as core CTRM through acquisition of applications that would commonly be viewed as tools for managing and optimizing supply chains and as such, without adjusting vendor reported results to eliminate these non-CTRM capabilities, we would be overstating the size of the market directly related to commodity trading and risk management capacities. Therefore, for this report, ComTech has utilized a fairly rigid view of what capabilities are encompassed within the bounds of CTRM. The included capabilities (and associated services where applicable) for this report are: © Commodity Technology Advisory LLC, 2016, All Rights Reserved.