Titan Petrochemicals Group Limited * 1192 (1) (2) (3) (4) (5) (6) (7) (8) 21168 169170171172 173234 30494902 SGM-1SGM-8 3049490248 *
.......................................................... 1..................................................... 19..................................................... 21..................................... 169...................................... 171............................................... 173.................................... I-1........................ II-1........................................... III-1.................................. IV-1................................ V-1........................................... VI-1............................................... SGM-1 i
400,000,0008.5% 15,000,000 (1) (2)(3)(4)(5) (6)(7) (8) 0.1 1
Saturn Petrochemical (i) (ii) Eastern Caribbean Supreme Court in the High Court of Justice, BVI Eastern Caribbean Supreme Court Camden KTL Camden Inc. Euroclear Bank S.A./N.V.Clearstream Bankingsociété anonyme 622 1192 2
99 DBIL Docile Bright Investments Limited (i)(ii) (iii) FELSFELS FELSFELS Edinburgh Edinburgh Navigation S.A. 25,000 (i)(ii) (iii) 3
FEG Falcon Energy Group Limited FELS FELS Offshore Pte Ltd FELS FELS FELS FELS 9.9% FELS FELS 62,240,000 FLNG FPSO Frontline TSLCamdenEdinburgh Mayfair 4
FSO FSRU FTSD FTS Derricks Pte. Ltd. FEG FTSD FTSD FTSD 0.61500,000,000 5
180,000,000 2,600,000,000 6
(i)(ii) (iii) Lynchpin Bondholder Management 56-58402 TSHL TSHL TSHL 7
118,575,360 555,000,0000.01 0.56 DBIL (i) (ii) (iii) 8
FELS FELS Mayfair KTL Mayfair Inc. MODU 9
14.07 Saturn Petrochemical 21,444,4808.5% (i) (ii) Garth CalowAlison Tomb 10
(i) (ii)10 (i) (ii)(iii)(iv) (v)(vi) (vii) 11
Saturn Petrochemical Saturn Petrochemical Holdings Limited Saturn Storage Saturn Storage Limited (a) (b) FELS 12
62,240,000 571 30494902 0.01 13
95% 0.10 9,382,164,000740,000,000 Morgan Stanley & Co. International PlcMill Reef Investment S.A.Ni Song Hua 25 5 FELS 14
2,600,000,000 DBIL TGIL TGIL TGILTOSILSaturn StorageTGIL TGIL TGIL 15
TGIL TGILTGIL TOSIL Titan Oil Storage Investment Limited TRML Titan Resources Management Limited TRML TRML 179A 16
TSHL Titan Shipyard Holdings Limited TSL Titan Storage Limited TSL CamdenEdinburghMayfair 261 3,595,420,415 9,382,164,000 2,642,391,62442,942,355 8,367,447 17
60,000,000 % 11.2072 17.81 5.7654 18
......................................................................................................................................................................................................................................................................................................................................................... 19
.............................................................................................................................................. (i) (ii) 20
Titan Petrochemicals Group Limited * 1192 Clarendon House 2 Church Street Hamilton HM11 Bermuda 30 4902 (1) (2) (3) (4) (5) (6) (7) A. * 21
(Tanjung Pelapas) 12 Titan Oil (Asia) Ltd. Titan FSU Investment Limited TOSIL Titan Oil Trading (Asia) Limited Titan Bunkering Investment Limited Harbour Sky Investments Limited TSHL Titan Orient Lines Pte. Ltd.7 TGIL1 Titan WP Storage Ltd.2 2 2 2 2 Titan Group Yantai Investment Limited 2 2 22
Titan Bunkering Pte. Ltd.3 Estonia Capital Ltd.5 TSL5 Titan Libra Pte. Ltd6 Ascend Success Investments Limited Sino Venus Pte. Ltd.7 Wynham Pacific Ltd.5 Sino Ocean Development Limited 5 Titan Ocean Pte Ltd4 Titan Mars Limited5 TRML Titan Resources Management (S) Pte. Ltd. 3 2 2 2 2 2 2 (1) TGIL TGIL (2) TGIL (3) 23
(4) 50 (5) (6) (7) 1,865,670,0001,465,670,000 95% 1,665,670,000 0.61500,000,000 (i) 740,000,000 (ii) 95% 1,300,000TGILTGIL 24
Saturn Petrochemical 30 Saturn PetrochemicalSPHL SPHLCamden Saturn Petrochemical Camden Camden Saturn Storage(i)TGIL (ii) TGIL TOSIL Saturn StorageTOSIL Saturn StorageSaturn StorageTOSIL Saturn StorageTOSIL70,000 25
TRMLTRML1,046,551.15 1,069,251.28 TRML Saturn Storage TGIL TGILRussell Crumpler (KPMG (BVI) Limited)Edward Middleton Patrick Cowley (KPMG)TGIL Stuart Mackellar (Zolfo Cooper (BVI) Limited) TGILTOSIL TGIL TGILTOSILSaturn StorageTOSIL TGIL 740,000,000 26
740,000,000 9,382,164,000 17 27
(i) (ii) 24 24 B. 28
(i) 0.100.100.30 (ii) 0.200.100.10 1.00 1,412,700,000 1,239,300,00027.7% 72.3% 211,100,000 1,920,886,282 366,600,000 334,300,000 1.000.10 33,600,000 29
265,600,000(i)(ii) 99 (i) (ii) (iii) (iv) (1) (2) 30
(v) (vi) (vii) (viii) (ix) (x) DBIL (xi) 31
99 Morgan Stanley & Co. International PlcMill Reef Investment S.A.Ni Song Hua 0.004%0.82%0.26% TSHL 1.00 0.10202,900,000 20,300,000 Frontline TSLTSLTSLTSLTSL TSL 32
TSLTSL FrontlineTSL TSL TSL Frontline C. TRML Saturn Petrochemical 30 Saturn Petrochemical Saturn Petrochemical Camden Saturn Petrochemical CamdenSaturnCamden Camden Camden 33
Saturn Petrochemical DBIL25,000,000DBIL DBILSaturn Petrochemical DBIL (i) Saturn Petrochemical (ii) (iii) (iv) 8.08 (i) (ii) (iii)99 (iv) (a)ftsd(b)(c) (v)(vi) (iii) 34
(a) (b) (c) (a) (b) (c) 35
(1) 1,526,741,949.33 1,429,497,482.80 97,244,466.53 (2) 264 125% 264 (3) (1)(3) 2% 360 (i) 0.1(ii) (iii) (4) 36
(5) (v)(vi)(vii) (i) (ii) (iii)(iv) (a) FTSD(b)(c) (v) (vi)(vii) 30 1,708,532,385.56 1,526,741,949.33181,790,436.23 (1) 43,880,272.00 42,600,000.00 1,280,272.00 37
(2) 96 (3) (1)(3) 2% 360 (i) 0.1 (ii) (iii) (4) (5) (v)(vi) (vii)(i) (ii)(iii) (iv) (a) FTSD(b) (c) (v) 38
(vi)(vii) 30 49,105,132.5743,880,272.00 5,224,860.57 (1) 36,367,173.72 35,478,631.11888,542.61 (2) 96 (3) (1)(3) 2% 360 (i) 0.1 (ii) 39
(iii) (4) (v)(vi) (vii)(i) (ii) (iii) (iv) (a) FTSD(b) (c) (v) (vi)(vii) 30 40,697,443.4236,367,173.72 4,330,269.70 40
7,200,000 6,000,000251,000,0002,642,391,624 41
(v)(vi) (i) (ii) (iii) (iv) (i) FTSD(ii)(iii) (v) (vi) 42
30 (ii)(iii) 0.1 25% 282,056,122.05359,542,041.5 1.001.274718091 3,595,420,415 43
(i) (ii) (iii) (iv) (i) FTSD(ii)(iii) (v) (vi) (vii) (viii) (ii)(v) 30 44
0.1 208,400,000 381212.5% 120 (i) (ii) (iii) 45
(iv) (i)ftsd (ii) (v) (vi) (v)(vi)(ii)(iii) Liang JunhuaFeng Zongping95% 5% 490,400,000165,400,000 TRML333,300,000 TRMLTRMLTitan Resources Management (S) Pte. Ltd. 9,000,000 TRML TRML TRML 46
79,600,000 796,000 (i) (ii) Titan Oil Finance LimitedTitan Oil Finance Limited 20,500,000 57,000,000 148,600,000 16,800,000 47
D. 62,240,000 2% 4% (i) (ii) 0.1 (i) (ii) (iii) 3,000,000 48
62,240,000 2% 4% (i) 0.1 (ii) (i) (ii) (iii) 62,240,000 49
15,000,000 a. b. 15,000,000 2% 4% 0.1 50
a. b. c. a. b. c. d. 51
e. f. g. h. i. 11,500,000 52
(a) (b) 200,0002,300,0001,900,00042,942,355 E. 180,000,000 a. b. 180,000,000 4% 53
1. 2. 3. 4. 5. 54
6. 7. 8. 9. 10. 55
F. 260,700,000260,900,000 (3)(1) 0.1 7,820,554,682 2,606,851,5602,609,251,560 56
(i)(ii) (iii) 3,556,353,66145.5% 57
(i) (ii) (iii) (iv) (v) (vi) 58
(vii) (i) FTSD(ii)(iii) (viii) (ix) (x) (iv) 30 (i) 59
(ii) (iii) (iv) 60
G. 0.12,600,000,000 0.12,600,000,000 (i) (ii) (iii) (iv) 61
(v) (i)ftsd(ii)(iii) (vi) (vii) (ii) 0.10(i)0.246 59.35% (ii) 0.62 62
(i) (ii) (iii) (iv) (v) (vi) 63
H. 520,700,000 520,700,000(i)265,600,000 (ii)140,800,000 (iii)61,800,000(iv) 52,500,000 I. 1,400,000 0.10 14,000,000 0.05% FELS 64
0.100.246 59.3513.36(5) J. (i) 7,820,554,682(ii) 7,200,000(iii) 555,000,000 1:1555,000,000 (iv) 47,960,0001,000 10,915523,483,348 (i) (ii)(iii) 9,382,164,000 1,920,886,282 3,595,420,41514,000,000 2,642,391,624 42,942,3558,367,447(a) (b) FELS(iv) 9,382,164,0001,920,886,282 3,595,420,41514,000,000 65
2,642,391,62442,942,3558,367,447 (a) (b) FELS (v) 9,382,164,000 1,920,886,2823,595,420,415 14,000,000 2,642,391,62442,942,3558,367,447 (a) (b) FELS(vi) 9,382,164,0001,920,886,282 3,595,420,41514,000,000 2,642,391,62442,942,3558,367,447 (a) (b) FELS 66
(i) (ii) 6 3,556,353,661 45.5 3,556,353,661 34.1 4,741,804,881 45.5 DBIL 16 2,606,851,560 25.0 6 3,556,353,661 45.5 6,163,205,221 59.1 4,741,804,881 45.5 2 1,000,000,000 12.8 1,000,000,000 9.6 1,333,333,333 12.8 FELS3 4 84,520,000 1.0 84,520,000 0.8 112,693,333 1.0 3,179,681,021 40.7 3,179,681,021 30.5 4,239,574,695 40.7 3,264,201,021 41.7 4,264,201,021 40.9 4,352,268,028 41.7 5 5 7,820,554,682 100.0 10,427,406,242 100.0 10,427,406,242 100.0 67
(iii) 9,382,164,000 1,920,886,282 3,595,420,415 6 7,194,716,431 23.5 8,380,167,651 27.3 DBIL 16 14,639,774,631 47.8 12,032,923,071 39.3 6 21,834,491,062 71.3 20,413,090,722 66.6 2,600,000,000 8.5 2,600,000,000 8.5 2 1,000,000,000 3.3 1,333,333,333 4.4 FELS3 4 2,005,406,282 6.5 2,033,579,615 6.6 14,000,000 0.0 14,000,000 0.0 3,179,681,021 10.4 4,239,574,695 13.9 8,799,087,303 28.7 10,220,487,643 33.4 5 5 5 5 30,633,578,365 100.0 30,633,578,365 100.0 68
(iv) 9,382,164,000 1,920,886,282 3,595,420,415 FELS 6 7,194,716,431 21.2 8,380,167,651 24.6 DBIL 16 14,639,774,631 43.0 12,032,923,071 35.4 6 21,834,491,062 64.2 20,413,090,722 60.0 2,600,000,000 7.7 2,600,000,000 7.7 2 1,000,000,000 2.9 1,333,333,333 3.9 FELS3 3,365,953,671 9.9 3,365,953,671 9.9 4 2,005,406,282 5.9 2,033,579,615 6.0 14,000,000 0.0 14,000,000 0.0 3,179,681,021 9.4 4,239,574,695 12.5 12,165,040,974 35.8 13,586,441,314 40.0 5 5 5 5 33,999,532,036 100.0 33,999,532,036 100.0 69
(v) 9,382,164,000 1,920,886,282 3,595,420,415 FELS 6 7,194,716,431 20.8 8,380,167,651 24.3 DBIL 555,000,000 1.6 555,000,000 1.6 16 14,639,774,631 42.4 12,032,923,071 34.8 6 22,389,491,062 64.8 20,968,090,722 60.7 2,600,000,000 7.5 2,600,000,000 7.5 2 1,000,000,000 2.9 1,333,333,333 3.9 FELS3 3,365,953,671 9.7 3,365,953,671 9.7 4 2,005,406,282 5.9 2,033,579,615 5.9 14,000,000 0.0 14,000,000 0.0 3,179,681,021 9.2 4,239,574,695 12.3 12,165,040,974 35.2 13,586,441,314 39.3 5 5 5 5 34,554,532,036 100.0 34,554,532,036 100.0 70
(vi) 9,382,164,0001,920,886,282 3,595,420,415 FELS 6 7,194,716,431 20.8 8,380,167,651 24.3 DBIL 555,000,000 1.6 555,000,000 1.6 16 14,642,174,631 42.4 12,032,923,071 34.8 6 22,391,891,062 64.8 20,968,090,722 60.7 2,600,000,000 7.5 2,600,000,000 7.5 2 1,000,000,000 2.9 1,333,333,333 3.9 7,200,000 0.0 9,600,000 0.0 FELS3 3,365,953,671 9.7 3,365,953,671 9.7 4 2,005,406,282 5.8 2,033,579,615 5.9 14,000,000 0.0 14,000,000 0.0 3,179,681,021 9.3 4,239,574,695 12.3 12,172,240,974 35.2 13,596,041,314 39.3 5 5 5 5 34,564,132,036 100.0 34,564,132,036 100.0 71
(i) 40.7% 45.5% 1.0% 12.8% 72
(ii) (a) 30.5% 0.8% 34.1% 9.6% 25.0% (ii) (b) 40.7% 45.5% 1.0% 12.8% 73
(iii) (a) 10.4% 3.3% 8.5% 0.0% 6.5% 23.5% 47.8% (iii) (b) 13.9% 0.0% 6.6% 4.4% 8.5% 27.3% 39.3% 74
(iv) (a) 0.0% 9.4% 5.9% 9.9% 2.9% 7.7% 43.0% 21.2% FELS (iv) (b) 12.5% 0.0% 6.0% 9.9% 3.9% 7.7% 35.4% 24.6% FELS 75
(v) (a) 0.0% 9.2% 5.9% 20.8% 9.7% 2.9% 7.5% 42.4% 1.6% DBIL FELS (v) (b) 12.3% 0.0% 5.9% 9.7% 3.9% 7.5% 24.3% 34.8% 1.6% DBIL FELS 76
(vi) (a) 0.0% 9.3% 5.8% 9.7% 0.0% 2.9% 7.5% 20.8% 42.4% 1.6% DBIL FELS (vi) (b) 12.3% 9.7% 5.9% 0.0% 3.9% 0.0% 7.5% 24.3% 34.8% 1.6% DBIL FELS 77
(1) (2) 10% 50%50% (3) FELSFELS 9.9% 0.12 9.9% FELS FELS FELSFELS (4) 181,100,000 1,412,700,0001,920,886,282 (5) 10% (6) (7) 100% 78
(i)(ii) Saturn PetrochemicalDBILSaturn PetrochemicalDBIL DBIL(iii) a. b. c. d. 224 e. FELSFELS 79
f. g. 228 h. 224 I. 80
TOSIL Saturn StorageTGILTGIL 90TGILTGIL Saturn StorageTGIL TGILTGIL TGIL TGILWarburg Pincus LLC 81
95% 1,865,670,0001,465,670,000 1,665,670,000800,000,000 740,000,000 740,000,000 Titan Oil (Asia) Ltd. Titan FSU Investment Limited TOSIL Titan Oil Trading (Asia) Limited Titan Bunkering Investment Limited Harbour Sky Investments Limited TSHL 82
Titan Orient Lines Pte. Ltd.7 TGIL1 Titan WP Storage Ltd.2 2 2 2 2 Titan Group Yantai Investment Limited 2 2 Titan Bunkering Pte. Ltd.3 Estonia Capital Ltd.5 TSL5 Titan Libra Pte. Ltd.6 Ascend Success Investments Limited Sino Venus Pte. Ltd.7 Wynham Pacific Ltd.5 83
Sino Ocean Development Limited5 Titan Ocean Pte Ltd4 Titan Mars Limited5 TRML Titan Resources Management (S) Pte. Ltd. 3 2 2 2 2 2 2 84
1 TGIL TGILTGIL (2) TPGL (3) (4) 50 (5) (6) (7) J. 16 85
740,000,000 0.10 9,382,164,000 (a) (b) (c) (d) (i) FTSD(ii)(iii) (e) (f) (g) (b)(c) 86
15 (i) (ii) (iii) (iv) 740,000,000 95% 87
FTSD FEG FTSDFEGFTSD FTSDFEG FSRU FTSDFTSD FTSD FTSDFTSD FTSD FTSD (a) FTSD 88
(b) (c) (d) (b) FSRU (a) (b) (c) (i) FTSD(ii)(iii) (d) (e) (f) FPSOFSOFSRU FLNG 89
30 (a)(b) FPSOFSOFSRUFLNG (i)(ii) (iii)(iv) FPSOFSOFSRUFLNG (i)(ii) (iii) (iv) 90
a. 100% b. 0% (i) (ii) (iii) c. 100% d. 100% a. 100% b. 100% c. 100% a. 100% b. 100% c. 0% (i) (ii) (iii) 91
a. 0% (i) (ii) (iii) b. 0% c. 0% (i) (ii) FTSDFEG FTSD FELSFELS 92
FELS (a) (b) (c) FELS (d) FELSFELSFELS FELSFELSFELS FELS (e) (i) (ii) (f) FELS (g) (a) FELS FELSFELS 30 93
FELS FELSFELS (i) (ii) (iii) (1)(2) FPSOFSOFSRUFLNG (3) FELS (a) (b) (c) 94
(d) (e) FELSFELS FELS FELS (i) (ii) FPSOFSOFSRUFLNG FELS FELS (i) 2,000,000 95
(ii) 3%FELS FELS FELS FELS 20,000,000 FELSFELS FELSFELS FELS30 FELS FELSFELS (i) FELS FELS (ii) FELS (iii) FELS FELS(i)(ii)FELS 20,000,000 96
FELSFELS FELS FELS FELS 9.9% FELS8.08 25% 8.08 FELS 0.10 FELS FELS0.12 FELS FELS FELSFELSFELS 97
FELS FELS0.12 FELS (a) (b) (c) (d) (e) (i) (ii) (iii) (iv)fels 98
FELS FELS FELS (1)FELS(1)FELS FELS FELS FELS 8.08 25% 8.08 FELS FELS FELS 99
FELS FELS FELS FELSFELS 100
FELS FELS 60,000,000 (1)(3) 2% (i) 0.1 (ii) (a) (b) (c) (d) (i) FTSD (ii)(iii) 101
(e) (f) (g) (b)(c) (a) (b) 800,000 8,367,447 (i) (ii)30 102
K. 10,000 FPSOFSOFSRUFLNG FPSOFSOFSRUFLNG 103
Research and Markets 1,211 10.6% FELSFELS FEG 104
40 FPSOFSOFSRU FELS FEGFELS FELS FELSFELS FELS FPSOFSOFSRUFLNG 30 FELSFELS FELS 9.9% FELS 8.0825% 8.08 105
FPSOFSOFSRUFLNG 180110 FPSOFSOFSRUFLNG 185,000,00011,000,0003,000,000 126% (VLCC) 106
FPSOFSOFSRUFLNG FELS 107
108
FPSOFSOFSRUFLNG FELS FELSFELS MODU MODUs 109
MODUs 1. (a) (b) (c) (d) (e) (f) 110
2. (a) (b) (c) MODUs (d) 3. (a) (b) (c) MODUs (d) 111
MODUs FELSFELS FELS (i) (ii) (iii) (1) (2) FELS 112
FELS FEG FTSDFEG FTSD 113
FPSO FPSO FPSO (i) (ii) (iii) 114
ISO9001 FEG XV 115
25 B XV DBIL 116
XV XV (MBA) 117
XV XV 23 18 TCL XV 118
7 50 863 XV 173 119
Rojam Entertainment Holdings Limited TS Drillings Pte. Ltd. DSS38E 25 62,000 52,000FPSO34,000 2,000 3,7004,200 1,100 Jurong Shipyard Limited 11,500 FPSOClass 375 350 120
A Sam, Weng Kuan 34 Japan Hitachi Zosen Group11 FPSO 121
A1 15 IMO 22FPSO (DSME) BINGO9000 12FPSO 122
Wong, Fook SengFELS (Nanyang Fellows/MIT) 4434FELS Wong Wong (Institute of Industrial Managers)(Institute of Marine Engineers)(Society of Naval Architecture and Marine Engineers)(Institute of Engineers Singapore) Woo, Boon HweeFELS Woo 45 Lim Eng KweeFELS FELSLim Aw, SweeFELS FELS 123
Sam, Weng KuanFELS (Ngee Ann Polytechnic) FELSSam 20 Neo, Swee WahFELS (Management Development Institute of Singapore)(Ngee Ann Polytechnic)FELS Tanker Pacific Management (Singapore) Pte Ltd Tanker Pacific29 Frontline LtdFrontline47VLCC 558 VLCC 124
MODU MODU MODU (a) (b) i. ii. (c) 125
(i) (ii) (iii) (a)modu (b) MODU(c) (a)(b) MODU 126
FPSOFSOFSRUFLNG L. 3,600 300,000 5 127
502386 17018650 80 680 FEG FELS FEG FPSOFSOFSRUFLNG 128
FEG FEG FTSDFTSDFEG FSRU 9,382,164,000 740,000,000 129
FEG FELSFELS 60,000,000 130
M. 131
2025 132
FELS FELS FELS 133
DSS38E FPSOFSOFSRUFLNG 20 134
135
136
137
138
139
N. 140
40% (a) (b)(c) (d) 141
(Offshore Drilling Rigs Market Global Forecast to 2019) 134,020,000,00010.6% 6.9% 50 (Brent)58 6165 (i) 142
(ii) FTSD FTSD11 120 170 603,000 3,700 (Offshore Drilling Rigs Market Global Forecast to 2019) 65,773,000,000102,473,000,000 9.27% BP 2035 37%1.4% 120,000,000,000 300,000,000,00050,000,000 100,000,000MODU 143
(a) FPSO FPSOFPSO FPSO 240 FPSO FPSOFPSO FPSO FPSO FPSO (b) FSO FSO (c) FSRU FSRU FSRU 144
FSRU FSRU FSRU FSRU FSRU (d) FLNG FLNGFLNG FLNG FLNG O. (i) 145
(ii) (iii) 146
(iv) 147
(v) (vi) 148
(vii) 7.4 8.2.1 8.15 (i) 149
150
(ii) 2015 151
P. 45.47% 166 45.5% 34%33%33% 60%40% 85%9% 6%44.3%35%15%5.7% 835 DBIL DBIL 152
Q. 40FPSOFSO FSRU 6,241,000,00035,800,000,000 517,000,0003,000,000,000 7 FELS 153
R. 49%34.33%16.67% S. 3,488,900,00068,900,000 T. (A) TRML (B) (C) 154
(D) A. TRML (1) (2) 1713 155
B. (1) (i) 5 5 2,299,402,000293,982,000 5 (a) (b) 156
(ii) 20,247,000 C. (1) (i) 88,806,000 157
(ii) 395,159,000 (2) (3) 241,781,000 3,938,700,0004,049,058,000 (i) (ii)(iii)(iv)(v) (vi)(vii)(viii) 158
7 D. (1) 159
(2) A1A2C2 (3) U. 3,556,353,661 45.47%DBIL FEG FEG FTSDFEGFTSD FELS 160
FELS FEG (i)ts Drilling Holdings LimitedFEG (ii) 5% 14A 45.47% 14A.9014A 161
5% 14A 45.47% 14A.07(1) 14A.25 14A 5%14A 162
5% 14A 50% 7.24(5)(a) 14A.92(2)(b)14A FELS 163
(i) (ii) 9,382,164,000(iii) 3,595,420,415(iv) 2,642,391,624 42,942,3558,367,447(a) (b) 45.5% 3,595,420,41571.3% 2,642,391,624 42,942,3558,367,447 164
26 261 50% 26 255 Morgan Stanley & Co. International Plc Mill Reef Investment S.A.Ni Song Hua 0.004%0.82%0.26% 5,000,0002,300,00017,900,000 25 25 FTSD 165
3,556,353,66145.47% Morgan Stanley & Co. International PlcMill Reef Investment S.A.Ni Song Hua280,00064,240,000 20,000,0000.004%0.82%0.26% (a) (b) V. 166
DBIL W. SGM-1SGM-8 3049 4902 48 30494902 X. 169170171172 173234 167
168
Titan Petrochemicals Group Limited * 1192 (1) (2) (3) (4) 173234 * 169
170
Titan Petrochemicals Group Limited * 1192 (1) (2) (3) (4) (5) (6) (7) (8) * 171
173234 172
12 601 (1) (2) (3) (4) (5) (6) (7) (8) (9) I. (1) (2) (3) 173
1. 1,526,700,000 (i)0.1 (ii) (iii) 43,900,000 36,400,000 174
2. 62,240,000 62,240,000 15,000,000 3. 60,000,000 4. 740,000,000 0.10 9,382,164,000 175
5. 0.1 282,056,122.05359,542,041.5 1.001.274718091 3,595,420,415 6. 260,700,000 260,900,000 2,606,851,5602,609,251,560 176
7. DBILSaturn Petrochemical DBIL (i) Saturn Petrochemical (ii) (iii) (iv) 8.08 8. 0.12,600,000,000 49%34.33%16.67% 0.12,600,000,000 177
9. 3,556,353,661 45.5% DBIL 45.5% 14A.07(1) 14A.25 45.5% 14A.07(1) 14A.25 5%14A 178
5%14A 5% 14A 10. 3,556,353,661 45.5% 179
(i) (ii) 9,382,164,000(iii) 3,595,420,415 (iv) 2,642,391,62442,942,355 8,367,447(a) (b) 45.5% 3,595,420,415 71.3% 2,642,391,62442,942,3558,367,447 180
26 261 255 Morgan Stanley & Co. International PlcMill Reef Investment S.A.Ni Song Hua 0.004%0.82%0.26% 5,000,0002,300,00017,900,000 25 25 II. (i) (ii)(iii) 181
(i) (ii) (iii) (1) (2) (3) 182
i. ii. III. (i)(ii)(iii)(iv) (v)(vi)(vii)(viii) (ix)(x)(xi) (xii)(xiii) 183
IV. 1. (i) (ii) (iii) 2. 1,665,700,000 95% 184
0.61500,000,000 (i) 740,000,000 (ii) 95% 1,300,000 TGILTGIL 17 13.24 17 185
17 (i) 13.24 (ii) (iii) 1. 2. 3. 4. (a) 14.62(2)(3) 186
(b) (c) 12 17 1. 2. 187
2.1. A. 45.5% 166 45.5% 188
44.3%34% 33%33% 35% 60%40% 15% 85% 9%6% 5.7% 62,240,000 62,240,000 15,000,000 D. 180,000,000 E. 189
2.2. 644,325 (673,394) (29,069) 61 178,353 5,807 54,910 2,294 4,134,534 1,236,193 (63,666) (210,901) (317,279) (22,911) (22,585) (153,318) (135,461) (5,384,435) (505) (510) (176,049) (32,111) 3,945,724 (4,818,150) 126 113 440 (31,985) 3,945,837 (4,817,710) (209,796) (166,463) 247,478 190
(241,781) 3,779,374 (4,570,232) 142,324 (34,219) 108,105 25,357 2,767 (13,108) 25,357 2,767 (13,108) 25,357 110,872 (13,108) (216,424) 3,890,246 (4,583,340) 644,300,000 191
4,570,200,000 3,779,400,000 241,800,000 146,000,00064,000,000 86,600,000 54,900,0002,300,000 210,900,000 63,700,000 86,900,00055,500,000 32,000,000 53,200,000 192
2.3 158,306 169,361 29,345 183,342 173,390 668,633 2,655,804 2,861,227 2,956,904 2,839,146 3,034,617 3,625,537 3,922,779 3,985,692 8,121,062 2,855,067 2,865,369 3,255,146 6,777,846 6,851,061 11,376,208 (3,938,700) (3,816,444) (7,750,671) (3,780,394) (3,647,083) (7,721,326) (268,664) (185,551) (3,000) (4,049,058) (3,832,634) (7,724,326) (4,049,058) (3,832,634) (7,724,326) 193
7,724,300,000 3,832,600,000 4,136,000,000 4,134,500,000 4,049,100,000 (a) (b) (c) (d) (e) (f) (g) (h) 194
(1) 3,938,700,000 4,049,100,000(2) 2,056,800,000 (3) T. (a) TRML (b) 195
(c) (d) 196
2.4 FEG FELS FELS 30 FELS (a) FELSFELS FELS (b) (i) (ii)fpsofsofsruflng (iii) 197
FELS FELS FELS 9.9% FELS8.08 25% 8.08FELS FELS J. FELS FELS 5. 198
3. (1) (2) (3) (1) (2) (3) 199
(1) 1,526,741,949.33 1,429,497,482.80 97,244,466.53 (2) 264 125% 264 (3) (1)(3) 2% 360 (i) 0.1(ii) (iii) (4) 200
(1) 43,880,272.00 42,600,000.00 1,280,272.00 (2) 96 (3) (1)(3) 2% 360 (i) 0.1(ii) (iii) (4) 201
(1) 36,367,173.72 35,478,631.11888,542.61 (2) 96 (3) (1)(3) 2% 360 (i) 0.1 (ii) (iii) 202
C. 7,200,0006,000,000251,000,000 2,642,391,624 203
0.10 (i) 0.24659.35% (ii) 0.49 7,820,554,682 0.59 (iii) 0.52 7,820,554,682 0.62 (i) (ii) (iii) 204
(1)(3) 6.15%2% 8.15% (1) (2) 264,200,000 502,900,000 19,399,700,000 205
1,607,000,000 4. 62,240,000 2% 4% 206
(i) 0.1 (ii) (i) (ii) (iii) 3,000,000 62,240,000 2% 4% 207
(i) 0.1 (ii) (i) (ii) (iii) 62,240,000 15,000,000 a. b. 15,000,000 208
2% 4% 0.1 a. b. c. 209
a. b. c. d. e. f. g. 210
h. i. 11,500,000 (a) (b) 200,0002,300,0001,900,00042,942,355 0.10 (i) 0.24659.35% 211
(ii) 0.49 7,820,554,682 0.59 (iii) 0.52 7,820,554,682 0.62 (i) (ii) (iii) 2% 4% 212
(1) (2) 4,400,000 502,900,000 1,822,400,000 J. FELS 12.3% 7.5% 213
12.3%7.5% 38.8% 133,100,000 5. FELSFELS 60,000,000 214
(1)(3) 2% (i) 0.1 (ii) (a) (b) 800,0008,367,447 0.10 (i) 0.24659.35% (ii) 0.49 7,820,554,682 0.59 (iii) 0.52 7,820,554,682 0.62 215
(i) (ii) (iii) (1)(3) (1)(3)5.75% 2% 6.75% (1)(3)4.75% 216
(1) (2) 11,000,000 502,900,000 724,300,000 J. FELS 12.3% 7.5% 217
12.3%7.5% 38.8% 218
6. 740,000,000 0.10 9,382,164,000 J. 0.10 (i) 0.24659.35% (ii) 0.49 7,820,554,682 0.59 (iii) 0.52 7,820,554,682 0.62 219
(i) (ii) (iii) 95%740,000,000 925,700,000 (i)1,429,500,000 (ii) FELS 220
888,900,000 7. 0.1 282,056,122.05359,542,041.51.001.274718091 3,595,420,415 (i) 221
(ii) (iii) (iv) (i) FTSD(ii)(iii) (v) (vi) (vii) (ii)(v) 30 0.10 (i) 0.24659.35% (ii) 0.49 7,820,554,682 0.59 222
(iii) 0.52 7,820,554,682 0.62 (i) (ii)(iii) (i) (ii) 300 8. 0.1 260,700,000260,900,000 F. 223
F. (i) (ii) (iii) 9. DBIL DBIL (i) Saturn Petrochemical (ii) 224
(iii) (iv) 8.08 (i) (ii) 59,800,000 (iii) 10. 0.12,600,000,000G. 0.1 2,600,000,000 G. (ii) 225
0.10 (i) 0.24659.35% (ii) 0.49 7,820,554,682 0.59 (iii) 0.52 7,820,554,682 0.62 (i) (ii) (iii) 226
11. FELS FELS FELS FELSFELS 9.9% J. 227
FTSDFEG FTSD FTSDFTSD (a) FTSD (b)(c)(d) FTSDFTSD (b) (a)(b)(c) (i) FTSD (ii)(iii) (i) FTSD (ii)(iii) (d) (e)(f) FPSOFSOFSRUFLNG FSRU (a)(b) 228
FTSD J. FTSD 12. 68,900,000 4,049,100,000 13. J. FELS 40.7% (i) 12.3% (ii) 9.3% (i) (ii) 229
(iii) 17 865 90.00% 334 86.60% 2358 82.51% 90.00% 82.51% 86.37% 69.8% 230
82.51%90.00%86.37% 69.8% 14. 3,556,353,661 45.5% (i) (ii) 9,382,164,000(iii) 3,595,420,415(iv) 2,642,391,624 42,942,3558,367,447(a) (b) 45.5% 3,595,420,415 2,642,391,62442,942,3558,367,447 71.3% 231
26 261 0.10 15. 232
(i) 0.10 0.100.30 (ii) 0.20 0.100.10 1.00 1.000.10 255 Morgan Stanley & Co. International PlcMill Reef Investment S.A.Ni Song Hua 0.004%0.82%0.26% 5,000,0002,300,00017,900,000 25 1.081% 233
(i)(ii) (iii) (iv)(v) V. 234
1. (A) 4715343159 38146 (http://www.hkexnews.hk)(http://www.petrotitan.com) B 6 3846 34423037 http://www.hkexnews.hk/listedco/listconews/sehk/2014/0530/ltn20140530236_c.pdf http://www.hkexnews.hk/listedco/listconews/sehk/2015/0424/ltn20150424577_c.pdf http://www.hkexnews.hk/listedco/listconews/sehk/2016/0405/ltn201604051473_c.pdf I 1
1,236,000,000 5,384,000,000 176,000,000482,000,000 17,000,000 4,135,000,000 135,000,000 146,000,00064,000,000 I 2
644,325 (673,394) (29,069) 61 178,353 5,807 54,910 2,294 4,134,534 1,236,193 (63,666) (210,901) (317,279) (22,911) (22,585) (153,318) (135,461) (5,384,435) (505) (510) (176,049) (32,111) 3,945,724 (4,818,150) 126 113 440 (31,985) 3,945,837 (4,817,710) (209,796) (166,463) 247,478 (241,781) 3,779,374 (4,570,232) I 3
(241,781) 3,779,374 (4,570,232) (241,781) 3,779,374 (4,570,232) (3.09) 48.33 (58.44) (3.09) 45.30 (58.44) (0.41) 50.45 (61.60) (0.41) 47.29 (61.60) (241,781) 3,779,374 (4,570,232) 142,324 (34,219) 108,105 25,357 2,767 (13,108) 25,357 2,767 (13,108) 25,357 110,872 (13,108) (216,424) 3,890,246 (4,583) (216,424) 3,890,246 (4,583,340) (216,424) 3,890,246 (4,583,340) I 4
2,152 3,138 4,787 156,154 166,223 24,558 158,306 169,361 29,345 181 146,926 145,555 161,729 26,547 26,520 487,059 9,869 1,315 19,664 183,342 173,390 668,633 2,655,804 2,861,227 2,956,904 2,839,146 3,034,617 3,625,537 5,850 5,850 5,850 217,731 217,731 351,408 742,850 774,100 4,520,305 882,329 882,329 962,062 441,753 441,753 499,693 88,657 88,657 100,243 435,325 420,717 406,110 202,896 202,896 227,292 1,008 1,069 1,059 898,854 947,503 951,730 2,526 87 27 95,283 3,000 3,000 3,922,779 3,985,692 8,121,062 I 5
2,855,067 2,865,369 3,255,146 6,777,846 6,851,061 11,376,208 (3,938,700) (3,816,444) (7,750,671) (3,780,394) (3,647,083) (7,721,326) 456 96,392 102,293 140,240 48,681 3,000 32,032 34,121 268,664 185,551 3,000 (4,049,058) (3,832,634) (7,724,326) 78,206 78,206 78,206 (4,127,264) (3,910,840) (7,802,532) (4,049,058) (3,832,634) (7,724,326) I 6
(B) 4 61 178,353 54,910 2,294 7(a) 4,134,534 (63,666) (210,901) 8 (22,911) (22,585) 7(d) (135,461) 15 (505) (510) 9 (32,111) 3,945,724 12 126 113 (31,985) 3,945,837 6(b) (209,796) (166,463) (241,781) 3,779,374 (241,781) 3,779,374 (241,781) 3,779,374 I 7
13 (3.09) 48.33 (3.09) 45.30 (0.41) 50.45 (0.41) 47.29 I 8
(241,781) 3,779,374 15 142,324 (34,219) 108,105 25,357 2,767 25,357 2,767 25,357 110,872 (216,424) 3,890,246 38 (216,424) 3,890,246 (216,424) 3,890,246 I 9
14 2,152 3,138 15 156,154 166,223 158,306 169,361 21 146,926 145,555 22 26,547 26,520 22 9,869 1,315 183,342 173,390 6(b) 2,655,804 2,861,227 2,839,146 3,034,617 24 5,850 5,850 25 217,731 217,731 26 742,850 774,100 28 882,329 882,329 29 441,753 441,753 30 88,657 88,657 31 435,325 420,717 32 202,896 202,896 1,008 1,069 33 898,854 947,503 33 2,526 87 34 3,000 3,000 3,922,779 3,985,692 6(b) 2,855,067 2,865,369 6,777,846 6,851,061 (3,938,700) (3,816,444) (3,780,394) (3,647,083) I 10
33 456 34 96,392 102,293 34 140,240 48,681 35 32,032 34,121 268,664 185,551 (4,049,058) (3,832,634) 36 78,206 78,206 38 (4,127,264) (3,910,840) (4,049,058) (3,832,634) I 11
36 38 78,206 (3,910,840) (3,832,634) (241,781) (241,781) 25,357 25,357 (216,424) (216,424) 78,206 (4,127,264) (4,049,058) 78,206 (7,802,532) (7,724,326) 3,779,374 3,779,374 15 142,324 142,324 35 (34,219) (34,219) 2,767 2,767 3,890,246 3,890,246 7(a) 1,446 1,446 78,206 (3,910,840) (3,832,634) I 12
(32,111) 3,945,724 6(b) (211,025) (167,692) 49,708 48,736 6(c) 7,112 7,315 (28) (29) 8 168,412 158,337 9 261 9, 20 180 9, 21 2,361 7(a) (4,134,534) 7(d) 135,461 15 505 510 113,101 (213,229) (11,320) (17,427) (114,818) I 13
330 2,152 378 608 (70,623) 41,163 3,822 (87,342) (67,073) 28 29 (87,314) (67,044) (54) (48) (54) (48) 89,609 48,681 6,393 (27) (23) 95,975 48,658 I 14
8,607 (18,434) 1,446 19,891 (64) (11) 9,989 1,446 9,869 1,315 6(b) 120 131 9,989 1,446 9,989 1,446 6(b) (120) (131) 9,869 1,315 I 15
1. Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda 304902 51 6 2.1 6 I 16
241,781,000 3,938,700,0004,049,058,000 a) Saturn Petrochemical Holdings LimitedSPHLSPHL (i) SPHLSPHL SPHL(ii) KTL Camden Inc.Camden SPHLCamden Garth CalowAlison Tomb Camden 42 b) 49 I 17
(i) (ii)(iii) (i)(ii)(iii) 2.2 19 19 19 19 I 18
2(i) (ii) 2 3 939 3 8(i) (ii) 13 13399 1638 24 3 13 39 932 I 19
40403 a) 40 b) 3 2.3 9 1 14 2 15 1 16 4 11 3 1 3 16 3 38 16 3 41 27 3 10 28 10 12 28 3 3 3 1 2 3 4 9 9 9 9a) b) 9 39 I 20
9 9 39 39 9 9 15 15 15 18 11 15 1 2 3 4 I 21
5 15 15 15 15 15 16 1617 12 16 17 1617 16 16 11 113 3 36 3 11 11 1 1 I 22
1638 16 38 a) b) 1638 1641 1641 1641 41 1641 27 939 9 28 2728 10 1 27 I 23
1028 28 10 10 1028 5 7 7 34 19 I 24
3434 2.4 622 6229 622 2.5 I 25
a) b) c) 5 39 I 26
a) i) ii) I 27
iii) b) i) ii) iii) iv) v) vi) vii) (a) (a)(i) viii) 5 I 28
2045 520 6 510 I 29
20 39 I 30
a) 39 b) I 31
(a) (b) I 32
39 a) 39 b) c) (i)(ii) I 33
I 34
(i) (ii) I 35
a) b) i) ii) iii) c) d) I 36
I 37
I 38
3. I 39
I 40
1 6(b)1545 4. 5. (a) (b)6(a) I 41
(69) (69) (65,524) (65,593) 28 28 33 33 54,910 54,910 (63,597) (63,597) (69) (69) (65,524) (8,626) (74,219) 55,838 982 56,820 LBITDA (69) (69) (9,686) (7,644) (17,399) (505) (505) LBITDA (69) (69) (9,686) (8,149) (17,904) (55,838) (982) (56,820) (145,501) (22,911) (168,412) (69) (69) (211,025) (32,042) (243,136) I 42
142 67 (1,363) (1,154) (31,941) (33,095) 1 28 29 178,323 178,323 2,085 2,085 (209,536) (209,536) 142 67 (1,363) (1,154) (31,940) (29,100) (62,194) 41 41 54,650 1,360 56,051 EBITDA (LBITDA) 142 67 (1,322) (1,113) 22,710 (27,740) (6,143) (135,461) (135,461) 4,134,534 4,134,534 (510) (510) EBITDA(LBITDA) 142 67 (1,322) (1,113) 22,710 3,970,823 3,992,420 (41) (41) (54,650) (1,360) (56,051) (135,752) (22,585) (158,337) 142 67 (1,363) (1,154) (167,692) 3,946,878 3,778,032 I 43
55,838 55,838 982 982 982 56,820 * 54 54 54 54 * I 44
41 41 54,650 54,691 1,360 1,360 1,401 56,051 * 19 19 29 29 29 48 180 180 180 2,361 2,361 2,361 2,361 * I 45
a) b) 2,816,998 3,032,569 180,454 171,409 2,997,452 3,203,978 3,192,033 3,216,717 3,854,477 3,819,895 7,046,510 7,036,612 19 54 29 54 48 180 180 1,147 1,214 2,361 I 46
10% 6. a) 95% 1,865,670,0002,241,011,000 1,465,670,0001,760,538,000 1,665,670,000 2,000,774,000 740,000,000 740,000,000888,875,000 95% 740,000,0000.10 9,382,164,000 I 47
b) 20 50,256 11,542 687 (77,086) (82,883) 8 (145,501) (135,752) 6(c) (211,025) (167,692) 12 1,229 1,229 (209,796) (166,463) a 2,299,402 2,488,687 b 293,982 306,345 42,053 44,627 20,247 21,437 120 131 2,655,804 2,861,227 250,333 265,658 c 88,806 93,861 d 424,447 416,533 193,532 83,949 1,839,975 1,946,165 57,974 59,203 2,855,067 2,865,369 (199,263) (4,142) a) 785,296,000 833,371,000435,246,000438,260,000 83,513,000118,659,000 2434 I 48
(i) (ii) 2 b) 254,811,000 265,557,000 2434 2 c) 34,728,000 36,854,000 d) 35,698,000 32,335,000 (6,409) (77) (19) 6,394 (15) (96) I 49
c) 4,263 5,344 1,491 869 5,754 6,213 48,726 47,520 7,112 7,130 57 74 51 (11,542) (687) (1) 7. Titan Storage LimitedTSL Estonia Capital Ltd.Titan Mars LimitedSino Ocean Development LimitedBrookfield Pacific Ltd.Roswell Pacific Ltd.Titus International Ltd. Wynham Pacific Ltd.Wendelstar International Ltd.Sewell Global Ltd. Titan Leo Pte. Ltd.Neptune Associated Shipping Pte LtdPetro Titan Pte. Ltd. I 50
a) 11,679 2,087,170 (133,710) (134,987) (476) (5,918,946) (46,710) (4,135,980) 38 (1,446) 4,135,980 4,134,534 b) c) 26 390,121 114,000 504,121 d) 135,461 135,461,000 I 51
8. 25,159 17,180 1,983 516 126,662 125,133 31 14,608 14,607 901 168,412 158,337 22,911 22,585 6(b) 145,501 135,752 168,412 158,337 9. 9,516 9,280 405 324 9,921 9,604 982 1,216 185 4,664 4,751 1,192 2,029 261 (54,910) (2,294) 20 180 2,361 (28) (28) I 52
10. 383(1)2 1,186 1,238 8,134 9,878 69 68 8,203 9,946 9,389 11,184 * 1,200 18 1,218 799 9 808 * 2,736 14 2,750 2,568 14 2,582 831 14 845 250 250 188 188 240 240 98 98 28 28 8 8 195 195 53 53 126 126 1,186 8,134 69 9,389 I 53
* 3,800 17 3,817 * 1,200 17 1,217 3,678 17 3,695 1,200 17 1,217 250 250 250 250 260 260 193 193 186 186 59 59 40 40 1,238 9,878 68 11,184 * 11. 10 650 17 667 I 54
500,0011,000,000 1 1 12. 16.5% 16.5% 17.0% 17.0% 25.0% 25.0% 25% 14 14 35 (126) (127) (126) (113) I 55
(243,136) 3,778,032 (58,686) 608,295 14 (11,962) (724,209) 69,293 114,558 (1,355) (1,342) (126) (113) 6(b) (1,229) (1,229) (1,355) (1,342) 35 34,219 34,219 I 56
13. (241,781) 3,779,374 14,607 (241,781) 3,793,981 7,820,554,682 7,820,554,682 555,000,000 7,820,554,682 8,375,554,682 (241,781) 3,779,374 209,796 166,463 (31,985) 3,945,837 14,607 (31,985) 3,960,444 I 57
2.682.12 2.681.99 209,796,000166,463,000 14. 3,277 11,786 15,063 (3,127) (8,798) (11,925) 150 2,988 3,138 150 2,988 3,138 54 54 (58) (924) (982) (58) (58) 92 2,060 2,152 3,277 11,524 14,801 (3,185) (9,464) (12,649) 92 2,060 2,152 I 58
3,895 16,773 20,668 (3,648) (12,233) (15,881) 247 4,540 4,787 247 4,540 4,787 29 29 (452) (452) (96) (1,120) (1,216) (1) (9) (10) 150 2,988 3,138 3,277 11,786 15,063 (3,127) (8,798) (11,925) 150 2,988 3,138 15. 166,223 16 24,275 142,324 (505) (510) (9,564) 134 156,154 166,223 505 510 I 59
156,154,000166,223,000 24 2 2 123 2012 16. 17. 24,558 (185) 15 (24,275) (98) I 60
18. 16,568 (16,568) 16,568 (16,568) 19. 42,053,000 44,627,0006(b) 20. 1,616 1,627 (1,616) (1,627) I 61
3090 1,627 14,259 (12,812) 9 180 (11) 1,616 1,627 1,616,000 1,627,0001,616,0001,627,000 21. TGIL 103,360 137,813 a 34,452 4,422 3,047 1,220 1,081 3,472 3,614 146,926 145,555 a) TGIL 34,452,000 I 62
2,361,000 22. 9,869 1,315 26,547 26,520 36,416 27,835 (19) (19) (26,528) (26,501) (26,547) (26,520) 9,869 1,315 999,000387,000 23. a) 1,950,000 b) 360,000,000458,692,000 I 63
24. (%) (%) 0.00 2012 5,850 0.00 2012 5,850 5,850 5,850 5,850 5,850 5,850,0005,850,000 i) 156,154,000166,223,000 ii) iii) 52,795,00058,086,000 8,673,0009,258,000 25. 3090 12 217,731 217,731 217,731 217,731 I 64
26. 388,139 390,121 164,606 174,665 27 113,155 113,155 23,400 23,400 4,677 6,831 48,873 65,928 742,850 774,100 1,167,000 27. (i) (ii) (iii) 321,996,000321,996,000 TSL TSLTSL TSL113,155,000 26 208,841,000208,841,000 50(a) 28. Deutsche Bank Trust Company Americas Bank of New York Mellon 400,000,0003,120,000,000 90,709,000 8.5% 105,870,000825,786,0004,499,000 35,092,000 750,0005,850,000 TGILTGIL Saturn Storage LimitedSSLTGIL I 65
1.00 i) 0.100.30 ii) 0.200.10 0.00% 0.00% 105,870,000825,786,000105,870,000 825,786,000 5,722,00044,634,0009,528,000 74,321,000 I 66
29. 78,728,000614,078,000 151.621% 1,00010,915 1,000500 0.09160.7145 47,960,000374,088,00047,960,000374,088,000 42 1.00 i) 0.100.30 ii) 0.200.10 I 67
0.00%0.00% 30. 14,193,000110,705,000 8.50% 42 1.00 i) 0.100.30 ii) 0.200.10 I 68
0.00% 0.00% 10,912,75185,119,45810,912,751 85,119,458 31. 406,110 8 14,607 420,717 8 14,608 435,325 0.56555,000,000 SPHL 310,800,000555,000,000 SPHLSPHL Docile Bright Investments LimitedDBIL DBIL I 69
DBILSPHL DBIL 32. 25,000,000195,000,0001% 5% (i)110% (ii) 5.5% Titan Shipyard Holdings LimitedShipyard Holdings 1.000.1 I 70
33. 888,875 943,291 9,979 4,212 898,854 947,503 2,526 87 901,380 947,590 456 34. (%) (%) b 2.0 3,000 2.00 3,000 3,000 3,000 a 6.24 2021-2022 96,392 6.09-7.03 2021-2022 102,293 b 2.00 2017-2018 140,240 2.00 2016 48,681 236,632 150,974 3,000 3,000 217,353 110,057 19,279 40,917 239,632 153,974 I 71
a) 80,247,000 96,392,00080,247,000102,293,000 b) i) 62,240,000 2 SPHL Garth CalowAlison Tomb 3,000,000 ii) iii) 62,240,000 2% 62,240,00048,681,000 10,000,0002% 78,000,000 c) 1,531,803,000 1,839,975,0001,526,742,000 1,946,165,0006(b) 1,526,742,000 1,833,896,0001,526,742,0001,946,165,000 i) 785,296,000833,371,000 ii) iii) iv) 246,138,000256,299,000 382,451,000380,174,000 83,513,000118,659,000 I 72
d) 96,392 102,293 116,875 107,528 140,240 48,681 148,350 49,965 236,632 150,974 265,225 157,493 35. 34,121 12 34,219 12 (126) (127) (1,963) 29 32,032 34,121 10% 5%10% 80,225,00084,503,0001,587,00028,894,000 33,795,00060,752,000 I 73
36. 0.01 a 80,000,000,000 800,000 14,445,000,000 144,450 0.01 31 555,000,000 5,550 555,000,000 5,550 0.01 7,820,554,682 78,206 7,820,554,682 78,206 0.01 555,000,000 5,550 555,000,000 5,550 a) 65,555,000,0000.01 800,000,000 b) c) 37 37. a) i) I 74
ii) (i) (ii) (i) (ii) (iii) iii) 10%780,240,218 9.98%) 30% iv) 12 1% v) vi) vii) 1.00 i) ii) iii) I 75
viii) b) i) * ** 10,000,000 (10,000,000) 10,000,000 (10,000,000) 0.45 0.45 20,000,000 (20,000,000) 450,000 (450,000) 5,070,000 (2,390,000) 2,680,000 5,100,000 (1,740,000) 3,360,000 5,620,000 (1,780,000) 3,840,000 0.45 0.45 0.45 0.45 16,240,000 (6,360,000) 9,880,000 36,240,000 (26,360,000) 9,880,000 I 76
* ** 10,000,000 10,000,000 10,000,000 10,000,000 0.45 0.45 20,000,000 20,000,000 1,450,000 (1,000,000) 450,000 6,230,000 (1,160,000) 5,070,000 5,420,000 (320,000) 5,100,000 6,000,000 (380,000) 5,620,000 0.45 0.45 0.45 0.45 19,100,000 (2,860,000) 16,240,000 39,100,000 (2,860,000) 36,240,000 * 20% 40% 20% 20% 0.435 ** 9,880,000 9,880,00098,8004,347,200 ii) I 77
c) 0.450 36,240,000 0.450 39,100,000 0.450 (26,360,000) 0.450 (2,860,000) 0.450 9,880,000 0.450 36,240,000 9,880,000 36,240,000 I 78
38. 2,473,241 18,261 6,236 175 150,650 (10,451,095) (7,802,532) 108,105 2,767 3,779,374 3,890,246 7(a) 1,446 1,446 (452) 452 2,473,241 18,261 5,784 175 108,105 154,863 (6,671,269) (3,910,840) 25,357 (241,781) (216,424) (4,087) 4,087 2,473,241 18,261 1,697 175 108,105 180,220 (6,908,963) (4,127,264) 40 10%50% I 79
39. * 4,277 3,897 8,230 12,507 3,897 * 40. 41. * 817,928 867,953 * (i) (ii) (iii) 321,996,000321,996,000 50(a) 321,996,000321,996,000 113,155,000113,155,000 I 80
42. KTL Mayfair Inc.Mayfair MayfairTSL MayfairTSL TSLMayfairTSL TSL MayfairMayfair 23,021,040.615,296,30TSLMayfair 20,755,188.89 TSL CamdenEdinburgh Navigation S.A. Edinburgh Mayfair a) CamdenEdinburgh Mayfair b) 1.00 0.10 TSL c) d) i) ii) iii) I 81
1) 2) 3) 4) 5) Mayfair EdinburghCamdenEdinburghTSL CamdenTSL EdinburghCamdenEdinburgh CamdenTSL (i)tsledinburgh(ii)tslcamden TSLEdinburghCamdenMT Titan AriesMT Titan Venus Frontline Management SAFrontline TSLFrontlineFrontline TSLFrontline EdinburghCamdenTSL EdinburghCamden20,755,188.89Edinburgh CamdenTSL7,449,911.026,425,312.50 I 82
TSL a) b) 1.00 0.10 TSL c) d) i) ii) iii) 1) 2) 3) 4) 5) I 83
EdinburghCamden SPHL 310,800,000 555,000,000 SPHLSPHL SPHL SPHLSPHL SPHL SPHL SPHL CamdenCamden CamdenTSLCamden Camden Camden6,853,032 SPHLSPHL (a) SPHLCamden(b)SPHL I 84
Camden SPHL i) SPHLSPHL ii) iii) iv) SPHL CamdenSPHLCamdenCamden Camden v) Camden Camden Camden Camden CamdenCamden SPHL Camden i) Camden (i) (ii) ii) Camden Camden Camden I 85
Garth Calow Alison Tomb Camden i) Camden ii) iii) Camden i) 1) 2) 3) 4) 5) 6) I 86
ii) iii) iv) v) TGIL Camden a) b) Camden c) Camden 90% Camden Camden SPHL Camden I 87
Camden SSLTGIL TGILTGILSSL TGILTGIL Eastern Caribbean Supreme Court TGILRussell Crumpler (KPMG (BVI) Limited)Edward MiddletonPatrick Cowley (KPMG)TGIL 2003Stuart Mackellar (Zolfo Cooper (BVI) Limited) TGIL Titan Oil Storage Investment LimitedTOSIL Eastern Caribbean Supreme Court TOSILSSLTGIL TGILTGIL SSL TOSIL SSL (a)tgil (b)tgilssl SSL I 88
90 SSL SSLSSL SSL (i) (ii) 43. 626 i) 1,526,742,0001,833,896,0001,526,742,000 1,946,165,000 ii) 36,367,00043,684,000 36,367,00046,358,0003,765,000 4,522,0001,497,0001,909,000 2,268,0002,865,000 2,182,0002,780,000 43,880,00052,708,000 43,880,00055,935,0004,543,000 5,457,0001,807,0002,303,000 2,736,0003,456,000 2,968,0003,781,000 I 89
I 90 (i) (ii)(i) 1,526,742,000 1,833,896,0001,526,742,000 1,946,165,000158,056,000189,854,000 62,857,00080,125,000 95,199,000 120,264,00093,060,000118,572,000 5,061,0006,079,000 61,00074,000 61,00077,000 iii) 143,240,000 51,681,0002,526,000543,000 1,983,000 516,000 2% 343,000,000 iv) 95%740,000,000888,875,000 740,000,000943,291,000 v) 874,0001,050,000 874,0001,114,000 874,0001,114,000 14,319,000 17,200,00014,319,00018,253,000
vi) 9,320 11,116 69 68 9,389 11,184 10 44. 142,503 142,508 142,503 142,508 26,547 26,520 26,547 26,520 9,869 1,315 9,869 1,315 178,919 170,343 178,919 170,343 I 91
217,731 217,731 217,731 217,731 738,365 767,475 738,365 767,475 5,850 5,850 5,850 5,850 96,392 102,293 96,392 102,293 143,240 51,681 143,240 51,681 898,854 947,503 898,854 947,503 2,526 543 2,526 543 882,329 882,329 882,329 882,329 441,753 441,753 441,753 441,753 88,657 88,657 88,657 88,657 435,325 420,717 435,325 420,717 202,896 202,896 202,896 202,896 4,153,918 4,129,428 4,153,918 4,129,428 45. I 92
1 2 3 46. I 93
26 (689) (26) 689 29 (757) (29) 757 41 TGIL21 TGIL 5% 20 I 94
% % 217,731 217,731 217,731 217,731 217,731 217,731 738,365 767,475 738,365 767,475 738,365 767,475 0.00 0.00 5,850 5,850 5,850 5,850 5,850 5,850 6.24 6.09-7.03 96,392 102,293 96,392 102,293 96,392 102,293 2.00 2.00 3,000 3,000 140,240 48,681 143,240 51,681 143,240 51,681 906,193 953,881 20,796 23,046 926,989 976,927 898,854 947,503 3,556 147 7,191 1,950 10,747 2,097 2,526 543 0.00 0.00 882,329 882,329 882,329 882,329 882,329 882,329 0.00 0.00 441,753 441,753 441,753 441,753 441,753 441,753 0.00 0.00 88,657 88,657 88,657 88,657 88,657 88,657 4.70 4.70 435,325 420,717 435,325 420,717 435,325 420,717 0.00 0.00 202,896 202,896 202,896 202,896 202,896 202,896 3,925,655 3,984,436 264,619 175,970 4,190,274 4,160,406 4,153,918 4,129,428 I 95
% 5.76 51,224 6.50 20 51,244 5.76 (51,224) 6.50 (20) (51,244) 2.51 23,679 4.31 109 23,788 2.51 (23,679) 4.31 (109) (23,788) I 96
256,183 271,508 882,329 882,329 441,753 441,753 88,657 88,657 202,896 202,896 1,936,367 2,048,458 143,240 51,681 3,951,425 3,987,282 2,997,452 3,203,978 132% 124% 47. 48. 49. 17 Victory Stand Limited Victory Stand I 97
17 10 i) 13.24 ii) iii) i) ii) I 98
i) ii) I 99
50. a) 3,957 2,539 8,058 295 12,015 2,834 2,767 2,767 265,273 285,573 321,996 321,996 882,329 882,329 441,753 441,753 88,657 88,657 435,325 420,717 888,875 943,291 2,526 87 3,000 3,000 3,332,501 3,390,170 (3,320,486) (3,387,336) (3,320,486) (3,387,336) 456 140,240 48,681 140,240 49,137 (3,460,726) (3,436,473) 78,206 78,206 (3,538,932) (3,514,679) (3,460,726) (3,436,473) I 100
b) 2,473,241 60,916 6,236 (6,020,536) (3,480,143) (34,536) (34,536) (452) 452 2,473,241 60,916 5,784 (6,054,620) (3,514,679) (24,253) (24,253) (4,087) 4,087 2,473,241 60,916 1,697 (6,074,786) (3,538,932) 51. Titan Oil (Asia) Ltd. 1 100 Titan FSU Investment Limited 1,000 100 TOSIL 1 100 Titan Oil Trading (Asia) Limited 1 100 Titan Bunkering Investment Limited 1 100 Harbour Sky Investments Limited 1 100 Shipyard Holdings 1 100 1 100 # 30,000,000 100 Titan Resources Management Limited 1 100 Ascend Success Investments Limited 1 100 2 100 28,000,000 100 I 101
50,000,000 100 10,000 100 1,040,879,823 50,000,000 100 100 # 95 282930 52. I 102
2. 4,687,000,000 307,000,000897,000,000 740,000,000893,000,000 490,000,000165,000,000 486,000,000 1,843,000,000 220,000,000 97,000,00012,000,000 9,000,000200,0006,000,000 155,000,0003,000,000 826,000,000882,000,000 374,000,000442,000,000 85,000,00089,000,000 195,000,000203,000,000 310,800,000439,000,000 165,000,00025,000,000 87,000,00010,000,000 I 103
3. 4. 5. I 104
6. a) 2.1 14,348 1,969 887 20,609 45,609 4,359,097 2,881,216 113,064 5,300,502 2,896,711 630 132,997 33,291 I 105
(i) (ii) (iii) (iv) b) 1,094,000 (i) (ii) (iii) I 106
c) 1) 5 2,545,476,000313,822,00060,432,000 499,508,000 I 107
2) 5 52,590,000 107,013,000 (i) (ii) (iii) (iv) 3) 5 93,624,000 (i) (ii) (iii) I 108
4) 5 572,608,000 (i) (ii) (iii) d) 175,298,000 10 171,454,000164,249,000 161,412,000 (i) (ii) (iii) (iv) I 109
e) 4,222,659,000 5,384,435,000 (i) (ii) (iii) (iv) f) 4140 (i) (ii) (iii) (iv) I 110
g) 560 h) 550 I 111
i) j) 2.1 4,570,232,000 7,750,671,000 7,724,326,000 262829303132 654,347,000962,062,000 499,693,000 100,243,000406,110,000227,292,000 42 KTL Camden Inc.KTL KTL 6,853,032 I 112
KTL Saturn Petrochemical Holdings LimitedSPHL KTL Camden Camden 2.1 I 113
(a) 4,134,534,0002.1 11,679 2,087,170 (134,987) (476) (5,918,946) (133,710) (46,710) (4,135,980) 1,446 (4,134,534) (i) (ii) (iii) (iv) I 114
(b) 1,214,000 (i) (ii) (iii) (iv) (c) 1) 6 2,488,687,000306,345,00059,203,000 I 115
2) 6 21,437,000 (i) (ii) (iii) (iv) I 116
3) 6 93,861,000 (i) (ii) (iii) 4) 6 416,533,000 (i) (ii) (iii) I 117
(d) 174,665,000 (i) (ii) (iii) (iv) (e) 390,121,000 135,461,000 (i) (ii) (iii) (iv) I 118
(f) 113,155,00043 42 (i) (ii) (iii) (iv) (g) 560 I 119
(h) 550 (i) I 120
(j) 2.1 3,816,444,000 3,832,634,000 263031323334 5,850,000882,329,000 441,753,00088,657,000 420,717,000202,896,000 44 KTL Camden Inc.KTL KTL 6,853,032 KTL Saturn Petrochemical Holdings LimitedSPHL KTL Camden 2.1 I 121
a) 1) 6 2,299,402,000293,982,000 57,974,000 I 122
2) 6 20,247,000 (i) (ii) (iii) (iv) 3) 6 88,806,000 (i) (ii) (iii) I 123
4) 6 395,159,000 (i) (ii) (iii) b) 164,606,000 (i) (ii) (iii) (iv) I 124
c) 388,139,000 (i) (ii) (iii) d) 113,155,00041 40 (i) (ii) (iii) (iv) I 125
e) 560 f) 550 g) I 126
h) 2.1 241,781,000 3,938,700,000 4,049,058,000 242829303132 5,850,000882,329,000 441,753,00088,657,000 435,325,000202,896,000 42 KTL Camden Inc.Camden Camden 6,853,032 CamdenSaturn Petrochemical Holdings LimitedSPHL Camden Camden I 127
2.1 I 128
A. II 1
B. 1 2 3 4a 4b 5 6 7 8 9 2,152 2,299,402 2,301,554 293,982 293,982 156,154 156,154 158,306 2,751,690 42,053 42,053 146,926 20,247 167,173 26,547 26,547 9,869 120 9,989 260,685 260,000 (2,504) 180,000 39,000 65,992 (211,132) (33,583) 183,342 245,762 2,655,804 (2,655,804) 2,839,146 245,762 5,850 5,850 217,731 88,806 306,537 (217,731) 19(a)(b)) 742,850 395,159 1,138,009 (148,895) 882,329 882,329 (882,329) 441,753 441,753 (441,753) 88,657 88,657 (88,657) 435,325 435,325 202,896 202,896 1,008 1,008 898,854 193,532 1,092,386 2,526 2,526 3,000 3,000 3,922,779 4,600,276 II 2
B. 1 2 3 4a 4b 5 6 7 8 9 2,855,067 (2,855,067) 6,777,846 4,600,276 (3,938,700) (4,354,514) (3,780,394) (1,602,824) 250,333 250,333 29,288 29,288 96,392 1,839,975 1,936,367 180,000 65,992 140,240 140,240 39,000 32,032 57,974 90,006 268,664 2,446,234 (4,049,058) (4,049,058) 78,206 78,206 26,069 26,000 19,209 (4,127,264) (4,127,264) 234,616 234,000 (2,504) 1,182,398 333,043 (4,049,058) (4,049,058) II 3
B. Oil Finance TRML 10 11 12 13 14 15 16 17 18a 18b 2,301,554 293,982 156,154 2,751,690 42,053 (2) 167,171 26,547 (20,884) (37,110) (1) (9,038) 501,414 737,185 737,185 (5,850) (81,863) 6,943 19(a)(b)) (95) (20,525) (79,583) (333,297) (256,938) 298,676 (435,325) (202,896) 1,008 (888,875) 65,169 (265,076) 3,604 1,768 (4,294) 3,000 313,231 II 4
B. Oil Finance TRML 10 11 12 13 14 15 16 17 18a 18b 313,231 423,954 3,175,644 250,333 29,288 375,525 375,525 2,182,359 179,240 90,006 3,106,751 68,893 93,822 140 35,954 26,937 306,337 187,957 795,053 (37,250) 59,800 20,522 79,583 324,259 302,847 (66,937) 242,433 (237,444) 68,893 II 5
20 (0.518) 21 0.002 C. 1. 2. 3. 260,685,1560.12,606,851,560 7,820,554,682 4. (a) 260,000,000 0.12,600,000,000 26,000,000234,000,000 (b) 2,504,000 II 6
5. 180,000,000 6. 5,000,00039,000,000 15,000,000 117,000,000 7. 54,939,000 65,992,00060,000,00072,071,000 8. 441,753,00088,657,000 882,329,000 (i) (ii) 211,132,000 1,920,886,2820.01 0.119,209,000 172,880,000 1,009,518,0001,412,739,000 403,221,000 9. Frontline 217,731,000 148,895,00033,583,000 333,043,000 366,626,00033,583,000 10. 5,945,000202,896,000 20,884,000 II 7
187,957,00020,884,000 11. 740,000,000888,875,000 0.19,382,164,000 93,822,000844,394,000 49,341,000 12. 38,510,000 1,400,000 0.114,000,000 140,0001,260,000 13. Saturn Petrochemical DBIL 59,800,000 375,525,000435,325,000 14. Titan Oil Finance LimitedOil Finance Oil FinanceOil Finance 2,0001,000 20,524,0001,000 Oil Finance20,522,000 15. 79,583,000796,000 78,787,000 79,583,000 796,000 796,00079,583,000 II 8
16. TRML 333,297,000 9,038,000 324,259,000 333,297,000 9,038,000 17. 81,863,000256,938,000 0.13,595,420,4150.01 35,954,000 323,588,000 20,741,000 338,801,000 359,542,000 18. (a) (b) 65,169,0001,768,000 265,076,0004,294,0000.12,693,701,426 26,937,000 242,433,000 19. 164,606,000 55,774,000 (a) (b) 164,606,000TGIL 148,286,000 55,774,000 II 9
20. 7,820,554,682 21. 30,633,578,365 (i) (ii) (iii) (iv) (v) (vi) 7,820,554,682 2,606,851,560 2,600,000,000 1,920,886,282 9,382,164,000 3,595,420,415 (vii) 2,693,701,426 (viii) 14,000,000 2,606,851,560 II 10
D. Hodgson Impey Cheng Limited 11 31 II-1II-10 II-1 II 11
4.29 7 7 1 4.29(7) 3420 4.29 7 II 12
II 13
(a) (b) (c) 4.29(1) 30 4902 P05806 II 14
A. (A) 1 1,676,000,000 48,500,000 426,600,000 3 4 4 2 (298,100,000) 48,500,000 426,600,000 5 2 0.055 0.002 0.014 1. 2. 30,633,578,365 (i) (ii) (iii) (iv) (v) (vi) 7,820,554,682 2,606,851,560 2,600,000,000 1,920,886,282 9,382,164,000 3,595,420,415 (vii) 2,693,701,426 (viii) 14,000,000 2,606,851,560 III 1
3. (i)(ii) (iii)(iv) 4. 5. (i)(ii) (iii)(iv) (B) 1. 2. 3. III 2
(i)ftsd (ii)ftsd (i) (ii) (iii) FTSD 4. 2,000,000 5. FELS FELS3%FELS FELS FELS 6. III 3
7. 8. 9. B. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. III 4
11. TRML 12. 13. 14. 15. M. 13.24B III 5
B. Hodgson Impey Cheng Limited 11 31 4400 1. 2. III 6
3. 4. a. b. c. d. 30 4902 P05806 III 7
C. 1b29(2)10 A 1b29(2)10 III 8
(i) (ii) 30 4902 III 9
315-321 9C (i) (ii) IV 1
1. 2. 3. 4. IV 2
5. 6. 7. IV 3
5 12 11.3 5% 30%-60% 25% 8. 30 4902 MHKIS IV 4
1. 483,000,000 2. 130,000,000 613,000,000 IV 5
1. 1,123,857.20 86,048.37 2 483,000,000 1. 1,123,857.20 (2005)070004 148,374 (2005)070005 487,614 (2008)070008 445,000 (2007)070004 33,000 (2009)070003 9,869.2 1,123,857.20 IV 6
2. 86,048.37 00301 20,939.24 00302 23,191.52 00303 8,019.31 00304 4,375.02 00312 21,302.55 00313 8,220.73 86,048.37 3. 4. HT820041130400004HT820041130400005 HT820041130400006HT82004113040007(2007) 070004(2009)07000333,0009,869.2 0030100313 40,000,000 42,184,617.02 5. (i) (2014)53(ii) (2013)2481(2008) 070008(2005)070005445,000487,614 04060 350521200800021350521200805220401 0030300312 161,260,000177,880,000 6. 200 400 IV 7
7. a) 4 b) 5 c) d) IV 8
2. 26,557.60 3.5 130,000,000 1. (2008) 20018726,557.60 2. 14080111-2012011501160142 0149(2008)20018726,557.60 82,899,981.17 2014001 94,330,288.95 3. 4. 1,1002,700 IV 9
5. a) 2 b) c) IV 10
211 1. 1.1 (i)1(ii) 10,000,000 (i)(iv) V 1
3.2 0.56 4 99 (i)(ii) (iii) V 2
Deutsche Bank Trust Company Americas 4.2 400,000,0008.50 0.56 4.1(i) 0.01 2.1 0.01 V 3
Titan Group Investment Limited 1.00 1.00 Warburg Pincus (Bermuda) Private Equity IX, L.P. 50.1% (i) Titan Oil35% (ii) Titan Oil (iii) Titan Oil (iv) V 4
(iv) (ivi) 45 (ivii) (iviii) (ix) (i)(viii) 17 99 V 5
Titan Oil 304949012 1 Titan Oil Titan Oil Pte., Ltd. (i) (ii) Warburg Pincus Private Equity IX, L.P 1.2 V 6
2. 2.1 4.70% 2.2 2.3 V 7
2.3 2.4 365 2.5 3. 3.1 3.2 4 3.3 (i) (ii) V 8
(iii) (iv) (v) 3.4 (i)(ii) (iii)(iv) (i)(ii)(iii)(iv) 4.9 V 9
(i) 4.9 (ii) (i) (ii) 100 3.5 3.4 3.4 28 V 10
4 3.4 (i) (ii) 3.6 (i) (ii) 10 3.7 3.4 3.9 3.8 10 V 11
3.3(ii)(v)3.3 6 3.8 3.9 3.10 (i) (ii) V 12
4. 4.1 4.1(i)(vii)4.1 (i) (ii) 4.2 (iii) 4.2 AB A A = V 13
B = (a) B (b) 4.1(iii) (iv) V 14
(v) (a) (b) 4.1(v)(a) V 15
4.1(v) (vi) V 16
(vii) 4.2 4.1 (i) (ii) (i) (iii) V 17
95% 0.01 4.1(iii)(iv)(v)(vi)(vii) 4.3 4.1 (i) (ii) (iii) (iv) (v) 105% V 18
(vi) (i)(ii) (vi) 4.4 4.5 4.6 4.4 4.5 V 19
4.7 4.1 4.8 4.9 (i) (ii)34 V 20
5. 5.1 (i) 30 (ii) 30 175% 30 5.2 5.3 90 5.4 10 (i) 175% V 21
(ii) 5.3 5.2 4.13 5.4 5.35.2 90 4.13 5.55.3 6. (i) (ii) V 22
7. 8. 9. 9.1 5 9.2 9.3 6 10. 10.1 10.211 (a) V 23
(b) (c) (d) (i) 20,000,000 (ii) 350,000,000 (de) 10.1 10.2 10.110.1(c) (a) (b) 7.5% (c) Warburg Pincus (Bermuda) Private Equity IX, L.P 20% 11. 50% V 24
1. 2. 80,000,000,000 0.01 800,000,000 555,000,000 5,550,000 80,555,000,000 805,550,000 VI 1
7,820,554,682 78,205,546.82 7,200,000 72,000.00 555,000,000 5,550,000.00 2,609,251,560 26,092,515.60 2,600,000,000 26,000,000.00 9,382,164,000 93,821,640.00 3,595,420,415 35,954,204.15 14,000,000 140,000.00 1,920,886,282 19,208,862.82 2,693,701,426 26,937,014.26 3,365,953,671 FELS 33,659,536.71 34,564,132,036 345,641,320.36 VI 2