Resolves YES if the spot price of palladium increases by more than 5% from its January 12, 2026 level of $1,939/oz by December 31, 2026, as a result of U.S. antidumping duties on Russian palladium. The authoritative data source for resolution will be the spot price data from reputable financial market data providers such as Bloomberg or Reuters. The U.S. antidumping duties, targeting Nornickel's significant share of global supply, could disrupt supply chains and elevate prices, making this threshold significant. The market will consider the impact of these duties as the primary driver for any price increase. Other unrelated market factors will not be considered in the resolution.

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