Perhaps I missed something, but I don't see NO HIP EXCEPTION APPLY explicitly mentioned on the fare rules for the fare basis IEXEV00Q. However, a CTM (circle trip minimum) surcharge is sometimes calculated on ITA. The system seems to be a little too eager to add this surcharge, but when you continue to book through OTA or use Powertools it drops to the usual price I quoted above, at least for the ones I tried.
Here's a sample itinerary with stops in AKL, MAD and EZE. ITA quotes $6,800 with CTM surcharge:
And then I used Powertools, clicked on Priceline and it prices correctly without the CTM.
