1 2 6 8 15 19 21 22 24 25 26 43

472 517 65.47 5 3.04 5 2 56 1

472,000,000738,000,000517,000,000 42,000,000 79,000,000 43,000,000 178,000,000 148,000,00020% 45% 551,000,000 9.5% 6.25% 2

386,000,000679,000,000 48,000,00041,000,000 18,000,000 30,000,000 I-China Holdings LimitedI-China I-China I-China 67.41% 8,239,000,0001,225,000,000 3

72,000,000 58,000,00032,000,000 38,000,0004,000,000 670,000900,000 280,00040,000 14,000,000 3,000,0002,000,000 1,000,000 150 4

597,000,000 (i) (ii) (iii) (iv) 475,000,000 5

163,000,00021,000,000 21 104 40 40 21 184 100,000,000 80,000,000 53,000,000 10,000,000 133,000,00030,000,000 1,000,000 11,000,000 6

2,412,000,0003.04 2,069,000,0002.64 3.6% 226,500,000 305,000,000 1,623,000,000 1,108,000,000 148,000,000 7

XV XV78 352 (I) (%) 192,381,8431 24.27 2 185,057,0781 23.34 500,0001 0.06 500,0001 0.06 1,100,0001 0.14 1. 2. 792,824,034 8

(II) (%) 2,500,0002 0.43 2,000,0001 10.00 30,0001 37.50 119,400,0341 1.53 I-China 100,000,0003 1.28 Holdings Limited 300,0001 0.05 1,300,0002 0.22 2,000,0001 10.00 30,0001 37.50 497,154,2181 6.36 200,000,0003 2.56 9

(II) (%) 1,000,0002 0.17 50,000,0003 0.64 4 1,400,0001 0.02 1,400,0001 0.02 3,112,2501 0.04 4 1. 2. (II) 3. 100,000,000200,000,00050,000,000 4. 7,814,084,941 XV352 10

(I) 17 7,575,000 300,000 * 3 0.34 5,000,000 (5,000,000 ) 3 0.34 500,000 (500,000 ) 3 0.34 500,000 (500,000 ) 6,000,000 (6,000,000 ) 3 0.34 1,875,000 (1,575,000 ) 300,000 1,875,000 (1,575,000 ) 300,000 7,875,000 (7,575,000 ) 300,000 * 1.45 11

(II) 17 4,800,000 5 5.15 2,500,000 2,500,000 5 5.15 1,300,000 1,300,000 5 5.15 1,000,000 1,000,000 4,800,000 4,800,000 XV 12

336 XV23 (%) 213,868,0001 26.97 2 213,868,0001 26.97 3 213,868,0001 26.97 4 213,868,0001 26.97 5 NWS Service 213,868,0001 26.97 Management Limited 6 Vast Earn Group Limited 213,868,0001 26.97 7 13

1. 2. 3. 4. NWS Service Management LimitedVast Earn Group Limited) 5. NWS Service Management Limited 6. NWS Service Management Limited Vast Earn Group Limited 7. Vast Earn Group Limited NWS Service Management Limited 336 14

13.13 13.15 13.16 13.20 13.22 (1) 232,953,000 2,786,341,000 2,825,982,000 14.16(1) 39,641,0008.36% 1,087,755,00021.42% 792,824,034 1.372 15

13.13 13.15 13.16 13.20 13.22 (2) / // / Balfour Beatty-Zen Pacific Joint Venture 33.70% a 23 30,500 30,523 Barclay Mowlem-Zen Pacific-China Civil Joint Venture 23.59% a 17 17 China State-Zen Pacific Joint Venture 20.22% a 4,883 4,883 Dragages (HK) Joint Venture 9.44% a 1,890 54,000 55,890 Dragages-Zen Pacific Joint Venture 16.85% a 108 5,837 5,945 Kier/Zen Pacific Joint Venture 33.70% a 3 31,072 31,075 5.39% a 6,684 6,684 Zen Pacific-Shui On Joint Venture (C518) 33.70% a 840 840 15.50% a 490 490 Kier Hong Kong Limited ( Kier ) b 33.37% a 20,000 45,000 21,038 86,038 33.70% a 248 248 50% 10,320 10,320 23,619 45,000 164,334 232,953 (a) /67.41% 16

(2) (b) Kier86,038,000 3.09%7.91%20,000,000 KierKier Kier 7,738,000Kier 45,000,000Kier Kier 6,733,000 / Kier20,000,000 (3) 158,416 1,681,615 (1,401,636) (20,000) 418,395 13.13 13.15 13.16 13.20 13.22 17

14 1,1851,032 829 698345 31111 23 18

2142 25 19

700 20

472,487 737,624 179,796 286,502 292,691 451,122 (290,307) (402,928) 2,384 48,194 4 5,739 14,640 (2,303) (965) (56,320) (62,574) 14 (32,000) 78,882 10,733 5 475,309 6 471,691 10,028 7 (1,138) (11,348) 88,711 75,398 4,367 (265) (5,018) (12,706) 558,348 61,372 8 (27,078) (12,063) 531,270 49,309 (14,620) (7,541) 516,650 41,768 9 158,565 15,654 10 65.47 5.34 65.22 5.30 21

11 45,560 49,856 12 37,204 2,165,182 2,075,588 103,841 11,737 13 28,302 28,302 14 10,464 45,054 8,000 2,390,553 2,218,537 16,422 16,834 29,036 53,719 15 144,212 200,730 13,001 12,322 2,882 10,561 5,518 2,820 13 85,125 13,913 14 6,525 6,525 21 29,544 54,494 103,164 55,041 435,429 426,959 22

12,993 18,844 16 173,716 214,911 70,000 70,000 22,657 15,397 4 17 11,172 20,980 2,548 2,548 5,916 8,975 18 9,434 78,264 262 248 4,137 308,698 434,308 126,731 (7,349) 2,517,284 2,211,188 35,391 4,552 18 80,000 139 273 941 941 33,159 33,159 36,070 23,070 70,309 137,443 2,411,584 2,069,193 79,282 78,525 2,332,302 1,990,668 2,411,584 2,069,193 23

77,712 728,066 7,559 (29,530) 1,174,796 1,958,603 36 2 (122) 3,989 3,867 77,712 728,066 7,437 (29,530) 1,178,785 1,962,470 6,435 6,435 755 1,812 2,567 41,768 41,768 (15,654) (15,654) 78,467 729,878 13,872 (29,530) 1,204,899 1,997,586 3,549 3,549 58 138 196 83,559 83,559 (15,697) (15,697) 78,525 730,016 17,421 (29,530) 1,272,761 2,069,193 (1,545) (1,545) (2,287) (2,287) (3,832) (3,832) 757 1,818 2,575 516,650 516,650 (158,565) (158,565) 9 (14,437) (14,437) 79,282 731,834 13,589 (29,530) 1,616,409 2,411,584 24

(24,168) 42,917 8,480 56,479 26,306 20,245 (679) 19,895 (111,667) 6,196 (67,292) (29,354) (50,008) 19 (35,633) 5 573,652 24,950 9,385 (1,769) (9,184) 5,459 1,029 371,799 74,691 8,222 (148,830) (25,000) (158,565) (15,654) 20,260 2,140 (10,000) (4) (25,352) 1,768 2,466 (295,371) (53,178) 52,260 64,430 50,904 82,301 103,164 146,731 103,164 148,480 (1,749) 103,164 146,731 25

1. 25 2. 36 36 36 36 26

2. 5,433,000 3,989,000 611,000 122,000 6,044,0003,867,000 1,950,000 3,370,000 3. 27

3. 206,543 72,017 14,131 292,691 179,796 179,796 386,339 72,017 14,131 472,487 (30,787) (37,666) (4,135) (72,588) 78,882 78,882 48,095 (37,666) (4,135) 6,294 475,309* 475,309 (9,912) 471,691 (1,138) 763 90,904 (2,956) 88,711 4,367 4,367 (265) (265) (5,018) (5,018) 558,348 (27,078) 531,270 (14,620) 516,650 * 28

3. 392,448 56,028 2,646 451,122 1,880 (1,880 ) 392,448 57,908 2,646 (1,880 ) 451,122 286,502 286,502 678,950 57,908 2,646 (1,880 ) 737,624 (1,302) 4,021 1,020 3,739 42,583 (31,850)* 10,733 41,281 4,021 (30,830) 14,472 (4,444) 10,028 (11,348 ) 797 73,293 1,308 75,398 (12,706 ) (12,706) 61,372 (12,063 ) 49,309 (7,541 ) 41,768 * 29

4. 7,544 275 129 3,097 5. Main Success Investments LimitedAsian Reward Development Limited Asian Reward Development Limited 50% 85,343 8,000 93,343 475,309 568,652 596,652 (23,000) (5,000) 568,652 30

6. 4,301 5,765 (885) (1,358) 3,416 4,407 418 7. 1,115 11,314 23 34 1,138 11,348 31

8. 413 4,973 182 133 3,043 (844) (39) 406 (1,531) 131 10,994 8,555 12,485 240 27,078 12,063 17.5% 17.5% 32

9. 5 2 39,641 15,654 15 118,924 158,565 15,654 514 I-China Holdings Limited 2,219,627,29514,437,000 5239,641,000 33

10. 516,650 41,768 789,167,579 782,545,029 2,986,597 5,481,339 792,154,176 788,026,368 11. 1,769,000 9,184,000 34

12. 37,622 418 37,204 15 35

13. 29,102 29,102 800 800 28,302 28,302 27,292 32 2,330 1,049 10,542 12,784 25,176 48 19,785 85,125 13,913 113,427 42,215 29,622 1,081 28,302 28,302 85,125 13,913 113,427 42,215 36

14. 6,525 6,525 42,464 45,054 48,989 51,579 32,000 16,989 51,579 6,525 6,525 10,464 45,054 32,000,000 37

15. 60 93,077 103,852 61 90 1,273 658 90 953 295 95,303 104,805 21,452 58,627 27,457 37,298 144,212 200,730 60 16. 60 15,816 39,696 61 90 4,536 2,129 90 7,160 9,785 27,512 51,610 24,663 25,057 51,734 63,343 69,807 74,901 173,716 214,911 38

17. 18. 9,434 78,264 40,000 40,000 9,434 158,264 9,434 78,264 80,000 9,434 155,434 2,830 9,434 158,264 39

19. Top Horizon Holdings Limited 5,987,000,0000.013,000,000,000 0.01 29,870,000Top Tactic Holdings LimitedTop Tactic Top Tactic5.18% 51 302 (213) 140 37,622 37,762 35,633 2,129 37,762 40

20. 3,927 11,565 15,492 2,972,000 18,820,000 21. 29,544,000 54,494,000 279,000,00046,500,000 1,080,000,000180,000,000 41

22. 38,267 187,998 // / 266,992 385,223 1,050,000 23. (a) 5,802 (b) 1,313 (a) (b) 42

Butterfield Fund Services (Bermuda) Limited Rosebank Centre 11 Bermudiana Road Pembroke Bermuda 56 Clarendon House Church Street Hamilton HM 11 Bermuda Conyers, Dill & Pearman 98 7 702B 610 43