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Annual Report 年報 2013 (incorporated in Hong Kong with limited liability) ( 在香港註冊成立的有限責任公司 ) Stock Code 股份代號 : 880

2002 3 2013 2013 12 3117 1,750 2,800 8 10 12 13 14 22 24 27 29 34 60 81 83 84 86 87 88 90 155 156

Palazzo Versace

1 2 5 6 1 2013 2 4 2013 5 70,468 6 3 4 7 8 2 8 2013

3 4 7 8 9 12 5 Palazzo Versace 7 500 8 2013 10 11 6 60 2013 9

2013 1. 2013 2. 2013 3. Euromoney 2013 4. 1000 5. 2013 50 6. 100 10 100 10 2013

7. 2013 8. 2013 9. 10 3 10. 11. 25 2014 8 Wine Spectator 2013 1890 1890 12. 2013 TripAdvisor 2013 TripAdvisor 2013 2013 11

2013 12 31 2012 12 31 86,956 78,884 1,251 1,058 EBITDA* 8,676 7,631 7,706 6,745 138.8 121.8 137.5 120.9 50 50 30 30 20 10 * EBITDA 2014 2014 2014 2 26 2014 6 5 2 30 2014 6 9 2014 6 10 2014 6 10 4 30 2014 6 24 12 2013

2013 13.1%10.2% EBITDA 13.7% 14.2% 24.8% EBITDA 3.9% 13.6%1.3% 96.4%2,235 2013 267 2013 12 3115 201370,46825 7001,000 2,00020172013 2014 2 13 50302014 20 100 2014 2 26 2013 13

2013 12 31EBITDA EBITDA 12 31 2013 2012 87,651 79,519 10.2% 86,956 78,884 10.2% 7,706 6,745 14.2% EBITDA 1 8,676 7,631 13.7% EBITDA 2 9.9% 9.6% 1 EBITDA 2 EBITDA EBITDA 201313.1%9.4% 2013 3,502.4124.8% 201226.7% 14 2013

EBITDA EBITDA9.9%20129.6% 2013 EBITDA17.5%201216.9% 20139,980 2012202013 11.37 201211.19 9,00020121.16 12 31 2013 2012 58,306 53,282 9.4% 257,651 240,625 7.1% 1,963,352 1,757,756 11.7% 620 605 2.5% 201367.1%67.5%2013 12 31 574382012 12 31587 362013 12 3113 20122.91%20132.85% 2013 15

12 31 2013 2012 27,256 24,104 13.1% 64,653 56,579 14.3% 1,155 1,164 (0.8)% 201331.3%201230.6%2013 12 31 1,2102012 12 311,184 13.1% 12 31 2013 2012 1,394 1,499 (7.0)% 1,153 1,083 6.5% 3,308 3,776 (12.4)% 20131.6%2012 1.9%2013 12 312,8802012 12 313,532 2013 12 3114 118233 2013 5 24 2013 11 25 16 2013

38,15140,703 EBITDA 12 31 2013 2012 32,248 29,233 10.3% 4,322 4,223 2.3% EBITDA 3 4,654 4,481 3.9% EBITDA 4 14.4% 15.3% 3 EBITDA 4 EBITDAEBITDA 12 31 2013 2012 25,795 22,714 13.6% 360,563 413,738 (12.9)% 871,904 762,016 14.4% 196 150 30.7% 5,996 6,073 (1.3)% 70,502 71,218 (1.0)% 233 233 0.0% 457 446 2.6% 1,764 1,639 7.6% 710 743 (4.4)% 2013 17

2013 2013 1 1240175 2013 12 31250181 2013 9 EBITDA2013 24.5%201225.8% 2013 1,450 39,767 6.8% 2013 1.39 5,600 328,915805,455 2013 12 31 699 2013 2 28 2013 2013 11 252013 5 24 12 31 2013 2012 12,450 11,084 12.3% 1,386 1,000 38.6% EBITDA 1,598 1,189 34.4% EBITDA 12.8% 10.7% 18 2013

EBITDA 12 31 2013 2012 7,191 6,117 17.5% 364,817 341,098 7.0% 248,153 214,052 15.9% 54 49 10.2% 4,830 4,497 7.4% 43,671 38,275 14.1% 303 321 (5.6)% 429 470 (8.6)% 1,257 1,044 20.5% 932 1,226 (24.0)% 2013 12 31 44132142 2013 12 31 177558 2013 19

2013 12 3114 2013 12 3112 3496511,481 12 31 2013 2012 42,259 38,567 9.6% 1,800 1,635 10.1% EBITDA 1,803 1,590 13.4% EBITDA 4.3% 4.1% 12 31 2013 2012 25,321 24,450 3.6% 187,495 164,541 14.0% 843,294 781,687 7.9% 370 406 (8.9)% 16,430 13,534 21.4% 72,721 60,619 20.0% 619 610 1.5% 508 583 (12.9)% 835 882 (5.3)% 1,666 1,807 (7.8)% 20 2013

2013 12 31 7.10EBITDA 2.446.60EBITDA 2.05413 96.4%95.0% 2013 2,235 20122,129 2014 (Robuchon au Dôme) 8 The Miele Guide 1890(Don Alfonso 1890) Wine Spectator 51% 2013 2.0420121.844082013 90.7% 2012 80.8% 0.6% 1,203 2013 2013 6.95 20126.359.4% 4.23 5.56 2013 21

2013 10 400,000 10 20,000 201310310,000 2005 89 49 2013 4 2013 11 13 2013 1160 2013 3 18 2013 6 22 2013

2013 2,600 85 2013 2013 12 3,000 2013 12 Versace 2013 2014) 2013 2013 1210 3 2013 9 2013 4 2013 23

2013 18.6% 20134.4% 2,930 10.2% 1,860 13.0% 810 2014 1 312 61,054,183 13%23% 24 2013

20132014 2014 2 13 2017 2013 5 1570,468 25521,435 77,158 2,000 7001,000 300 2013 7 10 2013 7 15Gianni Versace S.p.A. Palazzo Versace 2013 25

2013 92014 12 38 2014 2013 2 28 2014 1 132014 130 2013 12 31 7.52 2012 84.84%2013 7 5 1.49 2013 6 2013 12 31209,068,781 egame 2014 2 6eGame 2,000 26 2013

2013 12 31260.566.77 2012 12 31234.2611.2%EBITDA 2013 12 31 15.102012 12 3117.29 2013 12 31 1 1 2 2 5 5 21% 27% 52% 0% 100% 20132012 12 31 2013 12 312912012 12 317.96280.14 2013 12 31300 2013 12 3111.607,7002012 12 31 13.178,200 2013 12 316.77 2012 12 316.47 2013 12 318,7002012 12 318,700 2013 12 31 2013 27

2013 12 314.99 97% 2013 12 31 2013 12 3121,4002013 EBITDA EBITDA 2013 12 31 EBITDA 17.5% EBITDA 9.9% 28 2013

9220062009 20012010 1962 Euronext Estoril-Sol, SGPS, S.A. 2010200320072001 O.B.E. Commandeur de l Ordre de la Couronne 2013 29

622006 2009 2008 2012 3 20022013 3 1976 35 Euronext Estoril-Sol, SGPS, S.A. MACAUPORT Sociedade de Administração de Portos, S.A. 2009 2012 2005 19732001IMC/Southern Cross University 6220062009 2002 1978 3519992002 30 2013

7220062001 2003 1981 19651981 20121964 522007 2009 20082007 2010 12 2005 200520092013 20052011 3 2009 59200720092008 2007 1998 Urbana-Champaign 682010 8 19982012 20041999 2013 31

672013 52013 3 2001 7120082010 11 20082012 3 2009 9 2012 10 19882002 1967 2002 7320082010 11 20082012 3 200039 Advanced Management Program (AMP) Queen Elizabeth House (Oxford) 32 2013

682008 2000 1995 20072013 662008 19761984 200319972000 13.51B(1)2013 7 12013 12 31 2013 33

2013 12 31 7 50 2013 12 3183 154 2013 9 18 2013 6 30 20 2012 6 3010 2013 12 31502012 5030201230 2014 6 5 2014 2014 6 10 2014 6 104 30 183 17 1712 1716 2014 6 24 2014 2014 2014 2014 2014 6 32014 6 5 2014 5 304 30 183 17 1712 1716 2014 6 52 30 34 2013

2013 12 31155 I. 30.67% (i) (ii) 8.56% 7.65% (iii) Angel Playing Cards Co., Ltd.6.06% (iv) 4.67% (v) 3.73% 2013 5 31 Interdragon Limited 42.6%28.4%29% 5% II. 30% 2013 35

42 2013 12 3158.312012 12 3178.17 3902012 12 311,420 2013 12 31 2017 70,468 521,435 100% 11,626 135,442 100% 23,066 126,500 51% 93 103 I 1 5 123 5,582.72 100% 7,585.72 100% 36 2013

2013 12 31 38 4,0002012 15 17 40 2009 5 13 2009 5 13 10%500,000,000 158,652,000 2.9% 2013 37

38 2013 12 (a) 1% (b) (i) 0.1% (ii) 500 1 28 (a) (b) (c) 10

2013 12 31 2013 1 1 2013 12 31 2011 3 17 5 2011 9 17 2020 9 16 12.496 35,000,000 35,000,000 2011 3 17 5 2011 9 17 2020 9 16 12.496 32,000,000 32,000,000 2011 3 17 5 2011 9 17 2020 9 16 12.496 3,000,000 3,000,000 2011 3 17 5 2011 9 17 2020 9 16 12.496 30,000,000 30,000,000 2009 7 13 1 2010 1 13 2019 1 12 2.82 3,000,000 3,000,000 2011 3 17 5 2011 9 17 2020 9 16 12.496 3,000,000 3,000,000 2010 8 31 4 2011 2 28 2020 2 27 7.48 3,000,000 3,000,000 2011 3 17 5 2011 9 17 2020 9 16 12.496 3,000,000 3,000,000 2013 5 31 2011 3 17 5 2011 9 17 2020 9 16 12.496 3,000,000 (3,000,000) 2013 5 31 2013 10 8 6 2013 10 8 6 2014 4 8 2023 4 7 2015 4 8 2023 4 7 22 1,000,000 1,000,000 22 1,000,000 1,000,000 2013 10 8 6 2016 4 8 2023 4 7 22 1,000,000 1,000,000 2011 3 17 5 2011 9 17 2020 9 16 12.496 500,000 500,000 2009 7 13 1 2010 1 13 2019 1 12 2.82 500,000 (500,000) 2011 3 17 5 2011 9 17 2020 9 16 12.496 500,000 500,000 2009 7 13 1 2010 1 13 2019 1 12 2.82 500,000 (500,000) 2011 3 17 5 2011 9 17 2020 9 16 12.496 500,000 500,000 2009 7 13 1 2010 1 13 2019 1 12 2.82 500,000 (500,000) 2011 3 17 5 2011 9 17 2020 9 16 12.496 500,000 500,000 118,500,000 3,000,000 (4,500,000) 117,000,000 2013 39

2009 7 13 1 2010 5 19 2 2010 5 26 3 2013 10 8 6 2013 10 8 6 2013 10 8 6 2013 10 8 6 2013 10 8 6 2013 10 8 6 2013 10 8 6 2013 10 8 6 2009 7 13 1 2013 10 8 6 2013 10 8 6 2013 10 8 6 2010 1 13 2019 1 12 2010 11 19 2019 11 18 2010 11 26 2019 11 25 2014 4 8 2023 4 7 2014 10 8 2023 4 7 2015 4 8 2023 4 7 2015 10 8 2023 4 7 2016 4 8 2023 4 7 2016 10 8 2023 4 7 2017 10 8 2023 4 7 2018 10 8 2023 4 7 2010 1 13 2019 1 12 2014 4 8 2023 4 7 2015 4 8 2023 4 7 2016 4 8 2023 4 7 2013 1 1 2013 12 31 2.82 3,825,000 (565,000) 3,260,000 5.11 1,000,000 (400,000) 600,000 5.03 260,000 260,000 22 14,129,000 (4,000) 14,125,000 22 1,000,000 1,000,000 22 14,074,000 (4,000) 14,070,000 22 500,000 500,000 22 14,057,000 (4,000) 14,053,000 22 500,000 500,000 22 500,000 500,000 22 500,000 500,000 5,085,000 45,260,000 (965,000) (12,000) 49,368,000 2.82 1,150,000 (200,000) 950,000 22 734,000 734,000 22 734,000 734,000 22 732,000 732,000 1,150,000 2,200,000 (200,000) 3,150,000 124,735,000 50,460,000 (5,665,000) (12,000) 169,518,000 40 2013

1. 2009 7 1330,000,000 2010 1 13 2.85 2009 7 13166,700,000 146,700,000 2010 1 132019 1 12 1.25819 10,000,000 2011 1 132019 1 12 1.28888 10,000,000 2012 1 132019 1 12 1.31545 2. 2010 5 194.81 2.0728 3. 2010 5 264.83 2.0178 4. 2010 8 317.49 2.8926 5. 2011 3 1712.58 4.5320 6. 2013 10 847,460,00034% 33%2013 10 83,000,000 34%16.5% 21.95 2013 10 850,460,000 15,863,000 2014 4 82023 4 7 8.4299 1,000,000 2014 10 82023 4 7 8.5172 15,808,000 2015 4 82023 4 7 8.6397 500,000 2015 10 82023 4 7 8.7396 15,789,000 2016 4 82023 4 7 8.8327 500,000 2016 10 82023 4 7 8.8954 500,000 2017 10 82023 4 7 8.9801 500,000 2018 10 82023 4 7 8.9928 7. 20.45 2013 41

2013 5 31 2013 5 31 29 3311 97 2014 3.13 2014 42 2013

(i) (ii) I. 2013 5 31 Many Town Company Limited Many Town Company Limited Interdragon Limited A. 1. 2013 2008 6 18 2008 6 18 2020 3 31 47 2008 6 26 2009 6 162009 9 112010 12 302014 1 6 2013 43

2. 2013 2011 6 19 2011 6 18 2013 12 31 (i) (ii) (iii) (iv) (v) 47 2014 1 6 2011 6 19 2014 1 1 2016 12 31 (i) (ii) (iii) (iv) (v) 47 2011 6 192014 1 6 44 2013

B. 2013 2008 6 18 47 2002 4 1 2008 6 26 2010 12 302014 1 6 20112013 C. Sky Reach Investments LimitedSky ReachCompanhia de Aviação Jet Asia LimitadaJet Asia 2013 2007 Sky ReachJet Asia 2008 10 47 2013 45

2008 6 26 2009 1 202009 7 302010 12 30 2013 8 212013 9 112014 1 22Sky Reach Jet Asia Jet Asia A 2013 8 232013 9 122014 1 62014 1 22 D. 2013 11 22 2014 1 1 (i) (ii) (iii) (iv) 2.88 (a) 2013 9 24287,374,000 (b)2013 12 31 167,000162,000 2013 11 22 46 2013

2013 2013 2014 2015 2016 12 31 12 31 12 31 12 31 12 31 A. 1 247.9 331.0 307 327 327 B. 2 1. 113.7 157.0 141 169 203 2. 61.5 121.0 84 101 121 3. 129.9 193.6 4. 159.1 259.0 194 223 257 5. 14.8 82.0 6. 29.5 C. 3 4.3 100.0 85 85 85 D. 4 49.0 150.0 1. 2010 12 201120122013 12 31 3.003.153.31 (i) (ii)2011 1 1 (iii)2013 12 31 2013 11 201420152016 12 31 3.073.273.27 (i) (ii) 2016 12 31 (iii)(iv) 2016 12 31 2013 47

2. 2011 6201120122013 12 31 B.1 B.5 (i)(ii)(iii) (iv) 2014 1201420152016 12 31 B.1 B.2 B.4 (i)(ii) (iii)(iv) B.5 B.6 2013 12 31 B.3 3. (i)2011 (ii) 2010 12201120122013 12 31 4.002.001.00 2013 11 201420152016 12 31 8,500 4. 2010 12 201120122013 12 31 1.50 48 2013

II. 51% 50% 2013 2011 6 24 2011 6 24 2013 12 31 50 2013 12 6 2011 6 24 2014 1 1 2016 12 31 50 2011 6 242013 12 6 2013 49

2013 12 31 2013 12 31 2014 12 31 2015 12 31 2016 12 31 44.5 88.0 63.0 67.0 70.0 (i)(ii) (iii)(iv) III. 50% 2010 6 3 14A.11(4)(b)(ii) 2013 2010 2 19 2009 10 1 2020 3 31 2009 10 1,942.7 2010 12 13 50 2013

IV. Netlink Capital LimitedNetlink Netlink 97.3% Netlink 97.3%Netlink Netlink 2012 2014 1 1 Netlink 52 11 18 2016 12 31 10,300,000 10,000,000 Netlink 82,400,000 80,000,000 Netlink 2012 12 312012 11 18 2013 51

12 31 2014 2015 2016 126 126 126 (i)(ii) 5% V. 2013 11 22 2014 1 1 2016 12 31 53 2013 11 22 52 2013

12 31 2014 2015 2016 180 180 180 (i) (ii) (iii)(iv) 10% A 14A.38 740 2013 (1) (2) (3) (4) 2010 12 302011 6 192011 6 24 2013 53

I. 2 118,327,922 2.13% 35,000,000 0.63% 1 118,327,922 35,000,000 2.76% 86,452,922 1.56% 32,000,000 0.58% 1 86,452,922 32,000,000 2.14% 18,107,500 0.33% 3,000,000 0.05% 1 18,107,500 3,000,000 0.38% 427,950,000 7.71% 30,000,000 0.54% 1 427,950,000 30,000,000 8.25% 6,000,000 1 6,000,000 1 3,000,000 1 500,000 1 0.11% 0.11% 0.05% 0.01% 100,000 0.002% 500,000 0.01% 1 100,000 500,000 0.012% 500,000 1 0.01% 500,000 0.01% 500,000 0.01% 1 500,000 500,000 0.02% 2013 55

II. 100 100 0.12% 637 5,215 5,852 6.86% 1,004 1,004 1.18% B 300,000 10.00% 1. 2. 2013 12 31 5,553,509,293 2013 12 31 XV78XV 352 56 2013

2013 12 31XV 336 3 3,049,987,500 54.92% 427,950,000 7.71% 30,000,000 1 0.54% 427,950,000 30,000,000 8.25% The Capital Group Companies, Inc. Capital Research and Management Company 383,581,000 2 280,606,000 2 6.91% 5.05% 1. 2. The Capital Group Companies, Inc. Capital Research and Management CompanyCRMCCapital Group International, Inc.CGIICGII Capital Guardian Trust CompanyCGTCCapital International, Inc.CIICapital International LimitedCILCapital International SarlCIS 3362013 12 31CRMC CGTC CII CIL CIS 383,581,000 3. 2013 12 31 5,553,509,293 2013 12 31 336 2013 57

48 48(b) 48(j) 48(m) 48(n) 2008 6 18 2014 2 26 2008 2014 2 26 STDM-Investments Limited STDM-I2011 8 15 2007 11 20 STDM-I2011 8 STDM-ISTDM-I STDM-I 58 2013

2013 12 31 60 80 2014 2013 12 31 2014 2 26 2013 59

2013 12 31 A.6.5 E.1.2 2013 5 312013 2013 60 2013

121 7 58.3% 2013 5 31 2013 5 31 1 8.3% 3 42 33.4% 4 1. 1282 2. 33.10(1) 3. 3.10(2) 4. 1/33.10A 29 33 2013 61

62 2013

(i) (ii) 10% 2014 6 5 201497 2014 2014 4 7 2013 63

(i) (ii) (a) (b) 2013 (i) (ii) (iii) 3.13 64 2013

14 2013 65

2013 12 31 2013 2/5 0/1 5/5 2/2 1/1 1/1 5/5 1/1 5/5 1/1 5/5 2/2 1/1 1/1 5/5 1/1 1/1 4/5 0/1 2013 5 31 0/2 2013 5 31 1/3 5/5 6/6 2/2 1/1 1/1 5/5 6/6 2/2 1/1 1/1 5/5 6/6 2/2 1/1 1/1 5/5 6/6 2/2 1/1 1/1 66 2013

96(K) 2013 67

2008 6 4 100% 2 (a) (b) 68 2013

2013 66 2013 2012 12 31 2013 6 30 2013 3 312013 9 30 2014 2013 69

2008 6 6 67% 1 B.1.2(c)(i) 70 2013

2013 2013 2013 2012 2013 2012 2013 66 2013 5 31 2014 11 47 2013 71

2008 6 7 57% 1 2013 72 2013

2013 2013 2013 20142014 4 7 66 D.3.1 2012 2013 73

2013 2013 74 2013

2013 1 12013 12 31 14 21 20103 319 30 2013 75

8182 2013 2013 2012 8.3 8.3 3.2 3.7 0.6 0.6 0.1 0.1 0.5 0.9 0.1 12.8 13.6 (i)(ii)(iii) (iv) (i) (ii)(iii) (iv) (v) 76 2013

(i) (ii)(iii) (iv) (v) 2013 12 31 20 201315 2013 77

5032 113 113 2128 6222014 3 3 566 5% 1 30 3001 3006 ir@sjmholdings.com comsec@sjmholdings.com 78 2013

2013 21 14 1 30 3001 3006 ir@sjmholdings.com 2013 5 312 30 168 2001 2012 12 31 201412 http://www.sjmholdings.com 2013 79

2013 1 1 2014 2 26 80 2013

83 154 2013 12 31 141 2013 81

2013 12 31 2014 2 26 82 2013

2013 12 31 2013 2012 87,650.9 79,518.9 8 86,956.3 78,884.1 (33,425.2) (30,353.7) 53,531.1 48,530.4 694.6 634.8 (292.5) (276.6) 556.4 423.0 (38,459.1) (34,757.4) (8,178.1) (7,603.5) 9 (89.5) (115.6) 20 6.2 (16.0) 21 5.8 7.5 10 7,774.9 6,826.6 12 (52.5) (74.9) 7,722.4 6,751.7 1,223.9 8,946.3 6,751.7 7,706.0 6,745.4 16.4 6.3 7,722.4 6,751.7 8,929.9 6,745.4 16.4 6.3 8,946.3 6,751.7 14 138.8 121.8 14 137.5 120.9 2013 83

2013 12 31 2013 2012 15 8,325.3 8,130.8 17 2,771.0 739.7 18 20.5 26.9 19 289.2 289.2 20 19.1 12.9 21 93.8 88.0 22 1,703.9 480.0 23 426.7 1,195.0 24 63.7 234.2 25 88.4 40.8 26 14.3 14.3 27 93.0 112.9 28 633.7 645.8 14,542.6 12,010.5 62.4 63.8 29 1,509.5 1,706.8 30 3.4 0.8 31 151.3 84.3 28 43.7 1.3 32 14,910.2 11,494.5 32 11,145.4 11,931.8 27,825.9 25,283.3 33 15,318.9 14,558.6 23 311.5 36 22.9 22.9 37 9.3 26.2 41.1 62.4 38 318.3 237.9 16,022.0 14,908.0 11,803.9 10,375.3 26,346.5 22,385.8 84 2013

2013 12 31 2013 2012 37 63.7 234.2 38 1,191.2 1,490.6 36 705.8 698.3 23 849.6 39 81.0 48.7 2,891.3 2,471.8 23,455.2 19,914.0 40 5,553.5 5,547.8 17,849.6 14,330.4 23,403.1 19,878.2 52.1 35.8 23,455.2 19,914.0 83154 2014 2 26 2013 85

2013 12 31 2013 2012 15 2.9 4.9 16 4,359.3 4,359.3 4,362.2 4,364.2 48.1 34.2 34 772.7 650.5 5,825.2 32 10,826.5 6,455.5 32 232.1 750.7 11,879.4 13,716.1 5.2 3.5 34 291.6 291.6 296.8 295.1 11,582.6 13,421.0 15,944.8 17,785.2 40 5,553.5 5,547.8 42 10,391.3 12,237.4 15,944.8 17,785.2 86 2013

2013 12 31 2012 1 1 5,522.1 3,800.1 562.9 7,322.6 17,207.7 38.9 17,246.6 6,745.4 6,745.4 6.3 6,751.7 25.7 94.0 (36.8) 82.9 82.9 (0.1) (0.1) (0.1) 0.2 0.2 0.2 (9.4) (9.4) 13 (4,157.9) (4,157.9) (4,157.9) 25.7 93.9 (36.6) (4,157.9) (4,074.9) (9.4) (4,084.3) 2012 12 31 5,547.8 3,894.0 526.3 9,910.1 19,878.2 35.8 19,914.0 1,223.9 1,223.9 1,223.9 7,706.0 7,706.0 16.4 7,722.4 1,223.9 7,706.0 8,929.9 16.4 8,946.3 5.7 57.5 (17.3) 45.9 45.9 99.9 99.9 99.9 (0.1) (0.1) 13 (5,550.8) (5,550.8) (5,550.8) 5.7 57.5 82.6 (5,550.8) (5,405.0) (0.1) (5,405.1) 2013 12 31 5,553.5 3,951.5 608.9 1,223.9 12,065.3 23,403.1 52.1 23,455.2 2013 87

2013 12 31 2013 2012 7,774.9 6,826.6 (304.8) (353.9) 57.6 75.5 31.9 40.1 (13.3) (9.9) (6.2) 16.0 (5.8) (7.5) 6.4 6.3 1,137.1 1,119.0 (148.7) 16.0 31.9 (7.5) 41.5 41.5 3.9 (67.0) (35.4) 99.8 0.2 8,619.4 7,746.8 1.4 4.7 180.9 (369.6) 800.0 3,186.2 9,601.7 10,568.1 (41.5) (17.5) 9,560.2 10,550.6 88 2013

2013 12 31 2013 2012 304.4 331.6 13.3 9.9 (999.0) (382.7) 3.2 3.1 (151.3) (6.0) (480.0) 148.7 13.0 (334.2) (1,092.5) 246.0 (4.3) (2.2) 1.7 1.7 (47.6) 44.7 33.7 19.9 16.0 27,424.3 18,032.6 (30,840.0) (23,516.0) 25.0 (14.9) (500.2) (4,431.1) (7,267.0) (106.9) (116.4) (5,550.8) (4,157.9) 45.9 82.9 (0.1) (44.7) (33.7) 1,848.5 (234.5) (3,192.0) (24.5) (343.0) (5,915.5) (5,911.7) (786.4) (2,628.1) 1 1 11,931.8 14,559.9 12 31 11,145.4 11,931.8 11,145.4 11,931.8 2013 89

2013 12 31 1. 2. 20092011 7 10 11 12 1 10 11 12 13 192011 272011 282011 20 7 7 7 (a) (b) 32 32 90 2013

2013 12 31 2. 7 7 6 10 1027 12 10 a)b) c) 10 10 2013 1 1 10 10 11 1131 13 28 201111 11 11 31 31 2013 91

2013 12 31 2. 11 11 11 12 12 12 20 21 50 13 1313 1313 2 17 13 13 13 13132012 13 13 1 11 1 (a) (b) 92 2013

2013 12 31 2. 20102012 4 20112013 2 9 9 3 7 10 1 12 27 19 2 32 1 36 1 39 1 9 3 14 5 1 21 1 2014 1 1 2 2014 7 1 3 9 4 2014 7 1 5 2016 1 1 20102012 20102012 2 (i)(ii) 22014 7 1 39 39 3 2014 7 1 8 (i) (ii) 2013 93

2013 12 31 2. 20102012 1313 399 16 38 24 8 20102012 20112013 20112013 3 13 399 32 20112013 9 2009 92010 92013 94 2013

2013 12 31 2. 9 9 (a) (b) 39 9 9 39 2013 12 31 9 1012 27 10 10 2013 95

2013 12 31 2. 1012 27 12 27 32 32 21 21 21 3. 217 236 123 1 21 3 96 2013

2013 12 31 3. 3.1 3.2 3.3 2013 97

2013 12 31 3. 3.3 39 36 36 3.4 39 36 36 98 2013

2013 12 31 3. 3.5 3.6 2540 310 25% 7.6% 50% 25% 20% 10% 2013 99

2013 12 31 3. 3.6 3.7 3.8 3.9 3.10 3.11 100 2013

2013 12 31 3. 3.12 3.13 (a) (i) (ii) (iii) 2013 101

2013 12 31 3. 3.13 (a) (iv) (v) 102 2013

2013 12 31 3. 3.13 (d) 3.14 3.15 104 2013

2013 12 31 3. 3.15 3.16 3.17 (a) (b) 2013 105

2013 12 31 3. 3.17 (b) 3.18 (a) (b) 3.19 106 2013

2013 12 31 4. 2013 12 31 10.18201212.188,710 20128,710 2013 12 317.292012 7.21 2013 12 31 9,38020128,800 1,91020121,290 3,43020123,430 2013 107

2013 12 31 5. 6. (a) (b) 2013 2012 2013 2012 28,377.4 26,070.9 11,878.0 13,714.8 151.3 84.3 1,703.9 480.0 30,232.6 26,635.2 11,878.0 13,714.8 15,375.5 13,373.4 296.8 295.1 3 108 2013

2013 12 31 6. (c) 35 46 77% 201281% 46 2012 99% 201286% 2013 109

2013 12 31 6. (d) 2012 2012 50201250 50 201250 2013 2012 41.8 41.6 50201250 50201250 2013 2012 1.2 3.8 110 2013

2013 12 31 6. (e) 2012 12 31 10% 201210% 2013 12 31 1,5102012 840 1.72012 (f) 2013 111

2013 12 31 6. (f) 3 3 6 6 1 1 2013 12 31 2,730.9 112.0 12.2 2,855.1 2,855.1 7,551.8 7,551.8 7,551.8 1,075.4 110.8 383.1 1,569.3 1,569.3 4.38% 24.5 831.9 856.4 728.7 2.37% 2.0 3.0 5.8 67.0 77.8 73.0 5.00% 182.9 182.9 914.3 1,280.1 1,161.1 (i) 3.17% 72.0 71.6 224.0 1,269.0 1,636.6 1,509.5 (ii) 87.3 87.3 7,639.1 3,880.3 480.3 832.5 3,082.2 15,914.4 15,448.5 2012 12 31 2,187.0 665.1 12.3 2,864.4 2,864.4 6,587.2 6,587.2 6,587.2 907.4 321.0 243.7 1,472.1 1,472.1 4.44% 24.5 856.4 880.9 721.2 2.31% 6.6 8.3 16.7 251.4 283.0 260.4 (i) 3.21% 73.9 73.6 145.9 1,620.3 1,913.7 1,728.5 (ii) 87.3 87.3 6,674.5 3,174.9 1,068.0 443.1 2,728.1 14,088.6 13,633.8 112 2013

2013 12 31 6. (f) 3 3 6 6 1 1 2013 12 31 3.5 1.7 5.2 5.2 291.6 291.6 291.6 291.6 3.5 1.7 296.8 296.8 2012 12 31 3.1 0.4 3.5 3.5 291.6 291.6 291.6 291.6 3.1 0.4 295.1 295.1 (i) (ii) (g) 2013 113

2013 12 31 6. (g) 13 1 2 3 2013 12 31 1,703.9 1,703.9 151.3 151.3 1,855.2 1,855.2 2012 12 31 84.3 84.3 (h) 29 2013 12 31 1,377.0 (400.0) 977.0 (384.0) 593.0 114 2013

2013 12 31 6. (h) 2013 12 31 1,096.1 (400.0) 696.1 (384.0) 312.1 2012 12 31 1,437.6 (280.0) 1,157.6 (396.3) 761.3 2013 115

2013 12 31 6. (h) 2012 12 31 1,046.1 (280.0) 766.1 (396.3) 369.8 7. (i) (ii) 8 116 2013

2013 12 31 7. (a) 2013 2012 2013 2012 86,956.3 78,884.1 7,734.5 7,083.3 694.6 634.8 300.9 284.4 995.5 919.2 (273.9) (360.1) (300.9) (284.4) 694.6 634.8 87,650.9 79,518.9 7,460.6 6,723.2 192.4 194.7 (105.8) (118.2) 148.7 67.0 35.4 6.2 (16.0) 5.8 7.5 7,774.9 6,826.6 3 2013 117

2013 12 31 7. (b) 2013 2012 19,404.3 21,535.5 6,364.1 6,816.8 25,768.4 28,352.3 19.1 12.9 93.8 88.0 11,197.2 7,297.9 5,290.0 1,542.7 42,368.5 37,293.8 668.4 934.6 841.1 793.9 1,509.5 1,728.5 15,081.2 14,395.9 304.9 238.1 13,386.1 14,634.0 16,895.6 16,362.5 2,017.7 1,017.3 18,913.3 17,379.8 (i) (ii) (iii) (i) (iv) 118 2013

2013 12 31 7. (c) 2013 2012 930.1 582.0 17.8 45.4 * 2,866.2 978.6 3,814.1 1,606.0 * 2013 654.1 613.5 485.9 508.6 3.5 3.2 1,143.5 1,125.3 13.3 19.0 2.7 12.9 16.0 31.9 95.2 0.2 4.6 99.8 0.2 23.6 30.6 29.8 38.0 36.1 47.0 89.5 115.6 107.6 166.2 19.5 10.6 177.7 177.1 304.8 353.9 10% 2013 119

2013 12 31 8. 2013 2012 58,306.4 53,281.5 27,255.9 24,104.0 1,394.0 1,498.6 86,956.3 78,884.1 9. 2013 2012 53.4 68.6 4.2 2.8 4.1 40.0 31.9 40.1 129.5 115.6 (40.0) 89.5 115.6 120 2013

2013 12 31 10. 2013 2012 11 86.0 81.8 92.4 85.6 (18.4) (21.2) 74.0 64.4 89.2 0.2 5,126.3 4,534.1 5,215.5 4,534.3 5,375.5 4,680.5 8.3 8.3 4.5 5.3 12.8 13.6 44.0 44.0 334.7 363.2 378.7 407.2 3.9 6.4 6.3 1,137.1 1,119.0 16.0 31.9 4.5 13.3 9.9 67.0 35.4 7.5 22 148.7 4.2 6.9 300.6 343.4 3.6 304.8 353.9 2013 121

2013 12 31 11. 2013 2012 (1) (2) (3) (1) (2) (3) 24.3 6.0 30.3 24.3 4.0 28.3 11.4 2.8 14.2 10.9 3.3 14.2 10.0 2.4 12.4 9.5 2.9 12.4 2.8 0.7 3.5 2.7 0.7 3.4 8.4 2.1 1.1 11.6 8.0 2.4 1.1 11.5 1.1 0.3 1.4 1.1 0.2 1.3 0.4 0.1 0.5 0.4 0.1 0.5 2013 5 1.6 1.6 6.2 1.0 7.2 2013 5 0.5 0.1 6.1 6.7 0.6 0.1 0.7 0.4 0.1 0.5 0.6 0.1 0.7 0.4 0.1 0.5 0.6 0.1 0.7 0.4 0.1 0.5 0.6 0.1 1.0 1.7 0.5 0.1 0.9 1.5 62.9 14.9 2.1 6.1 86.0 64.8 15.0 2.0 81.8 (1) (2) (3) 2012 2013 2013 2012 6.3 10.6 30.5 0.2 36.8 10.8 122 2013

2013 12 31 11. 12. 2013 2012 41.1 41.1 0.4 41.5 41.1 (21.3) 20.2 41.1 32.3 33.8 52.5 74.9 2011 11 232012 2016 2012 8 10 2012 20164,2304,110 4,11020124,110 2006 2,130 12% 2013 123

2013 12 31 12. 2013 2012 % % 7,774.9 6,826.6 933.0 12.0 819.2 12.0 (909.1) (11.7) (844.1) (12.4) (1.4) 1.0 (41.0) (0.5) (22.1) (0.3) 51.9 0.7 24.1 0.4 43.1 0.6 82.6 1.2 (21.3) (0.3) (44.2) (0.6) (26.9) (0.4) 41.1 0.5 41.1 0.6 0.4 52.5 0.7 74.9 1.1 13. 2013 2012 432011 2,383.7 222011 1,219.6 102012 554.6 502012 2,775.1 302012 1,665.1 202013 1,110.6 5,550.8 4,157.9 2014 2 2650 30 44.43 5,553,829,293 124 2013

2013 12 31 14. 2013 2012 7,706.0 6,745.4 2013 2012 5,550,417,186 5,538,603,924 54,149,087 39,918,931 5,604,566,273 5,578,522,855 2013 125

2013 12 31 15. 2012 1 1 4,889.2 411.0 5,214.4 672.4 2,737.1 18.4 13.7 13,956.2 10.3 14.5 176.0 35.4 262.6 8.7 507.5 (53.5) (65.2) (74.0) (192.7) 2012 12 31 4,899.5 425.5 5,336.9 642.6 2,925.7 27.1 13.7 14,271.0 5.5 26.3 206.5 25.2 58.2 2.4 1,026.7 1,350.8 (1.4) (73.1) (42.4) (81.0) (197.9) 2013 12 31 4,903.6 451.8 5,470.3 625.4 2,902.9 29.5 13.7 1,026.7 15,423.9 2012 1 1 795.8 370.2 2,174.8 563.3 1,251.3 11.2 12.4 5,179.0 235.1 24.8 510.7 55.8 287.6 3.7 1.3 1,119.0 (42.5) (65.0) (50.3) (157.8) 2012 12 31 1,030.9 395.0 2,643.0 554.1 1,488.6 14.9 13.7 6,140.2 234.9 22.8 501.3 50.3 324.0 3.8 1,137.1 (0.3) (57.0) (42.4) (79.0) (178.7) 2013 12 31 1,265.5 417.8 3,087.3 562.0 1,733.6 18.7 13.7 7,098.6 2013 12 31 3,638.1 34.0 2,383.0 63.4 1,169.3 10.8 1,026.7 8,325.3 2012 12 31 3,868.6 30.5 2,693.9 88.5 1,437.1 12.2 8,130.8 2013 12 31 24.24201227.92 2020 126 2013

2013 12 31 15. 2012 1 1 1.5 3.5 5.0 2.2 3.5 5.7 (3.2) (3.2) 2012 12 312013 12 31 3.7 3.8 7.5 2012 1 1 0.9 2.6 3.5 0.5 1.8 2.3 (3.2) (3.2) 2012 12 31 1.4 1.2 2.6 0.6 1.4 2.0 2013 12 31 2.0 2.6 4.6 2013 12 31 1.7 1.2 2.9 2012 12 31 2.3 2.6 4.9 16. 2013 2012 3,972.3 3,972.3 387.0 387.0 4,359.3 4,359.3 50 2013 127

2013 12 31 17. 2013 2012 1 1 739.7 775.2 2,089.1 6.0 40.0 (41.5) (41.5) (56.3) 12 31 2,771.0 739.7 2013 12 3123 20.88 18. 2012 1 12012 12 312013 12 31 63.2 2012 1 1 30.0 6.3 2012 12 31 36.3 6.4 2013 12 31 42.7 2013 12 31 20.5 2012 12 31 26.9 10 128 2013

2013 12 31 19. 2012 1 12012 12 312013 12 31 289.2 20. 2013 2012 25.0 25.0 6.8 6.8 (12.7) (18.9) 19.1 12.9 49% 2013 2012 1,315.4 490.6 59.1 62.0 (1,534.0) (725.5) 884.0 451.8 12.6 (218.9) 2013 129

2013 12 31 20. * 2013 2012 1 1 185.8 185.8 12 31 185.8 185.8 * 2013 2012 12.7 18.9 2013 2012 (159.5) (172.9) 185.8 185.8 26.3 12.9 49% 49% 6.2 6.6 19.1 12.9 21. 2013 2012 39.7 39.7 54.1 48.3 93.8 88.0 49% 130 2013

2013 12 31 21. 3,43020123,430 2013 2012 128.4 117.2 31.5 32.4 (38.5) (40.0) 14.4 14.4 11.8 15.3 0.9 0.9 1.5 1.5 2013 2012 121.4 109.6 49% 49% 34.3 34.3 93.8 88.0 2013 131

2013 12 31 22. 2012 12 314% 4.82012 12 31 (a) (b) 2012 12 31 2013 73%(a) (b) 1.492013 12 31 23. 2013 2012 776.7 426.7 418.3 426.7 1,195.0 2012 12 31 25 20.88 2012 12 317.772013 12 31 5%2013 12 31 11.6120123.122012 2012 10 192013 5 15 24. 37 Companhia de Aviação Jet Asia Limitada Jet Asia2.37% 2012 2.31% 132 2013

2013 12 31 25. 2013 12 31 12 26. 2013 12 31 12 27. 2013 12 31 12 28. 2013 2012 (a) 488.1 500.2 (b) 145.6 145.6 633.7 645.8 (a) 42.4 1.0 1.0 0.3 0.3 43.7 1.3 677.4 647.1 (a) (b) 124.882012 5 2007 4 1 1802020 3 312.91 2013 12 31 0.8% 2.75% 20121.00% 2.75% 2013 133

2013 12 31 29. 2013 2012 977.0 1,157.6 41.0 60.6 127.9 112.3 363.6 376.3 1,509.5 1,706.8 37 2013 2012 0 30 973.5 1,154.1 90 3.5 3.5 977.0 1,157.6 152013 12 31 134 2013

2013 12 31 29. 2013 2012 1 1 87.1 88.1 (4.9) 4.2 (0.3) 12 31 87.1 87.1 8,71020128,710 2013 2012 A 39.4 47.7 1.2 1.2 174.6 149.1 215.2 198.0 30. 48(b) 12 31. 2013 135

2013 12 31 32. 2013 12 310.58% 2.90% 20120.79% 2.90% 37 2012412 12 2013 12 310.01% 1.75% 20120.01% 2.30% 2013 12 310.58% 1.80% 20120.79% 2.21% 36 2012612 12 2013 12 310.01% 1.75% 20120.01% 1.43% 33. 2013 2012 2,855.1 2,864.4 2,962.7 2,746.2 7,551.8 6,587.2 63.8 191.7 216.3 118.9 352.6 864.7 632.9 501.5 222.4 197.3 27.4 24.0 433.9 462.7 15,318.9 14,558.6 2013 2012 0 30 2,816.1 2,833.1 31 60 25.1 16.9 61 90 0.9 1.5 90 13.0 12.9 2,855.1 2,864.4 90 136 2013

2013 12 31 33. 2013 2012 A 265.7 234.8 24.3 3.5 400.6 392.8 690.6 631.1 34. 12 35. 46 2013 12 312012 12 31 36. 2,290 20122,290 7.0620126.982013 12 31 102012 940 2013 137

2013 12 31 36. 2013 12 31 7.292012 7.21 3,19020124,0108.5620128.81 4.4% 20124.4% 37. 2013 2012 2013 2012 10.8 31.6 9.3 26.2 11.8 33.4 10.4 28.3 55.2 100.1 53.3 89.0 117.9 116.9 77.8 283.0 73.0 260.4 (4.8) (22.6) 73.0 260.4 (9.3) (26.2) 63.7 234.2 20072008 Sky Reach Investments LimitedSky Reach Jet Asia Jet Asia Jet Asia 2013 12 312.37% 2012 2.31% (i) Jet Asia (ii) Sky Reach 2013 12 31 Jet Asia 7,300 20122.66,37020122.34 2493020122,620 2013 12 31 Sky Reach Jet Asia 1.45 1.45 Jet Asia 138 2013

2013 12 31 38. 2013 2012 318.3 237.9 399.7 317.7 791.5 1,172.9 1,509.5 1,728.5 (318.3) (237.9) 1,191.2 1,490.6 2013 12 3132.75% 3.0% 201232.75% 3.0%3.13% 3.38% 20123.15% 3.4%3.0%4.9920124.81 2013 12 3111.62012 13.17 7,71020128,190 (i) (ii) 5.3120125 24201224 11.76 201211.76 (iii) (iv) 24201214.68 (v) (vi) (vii) 2013 139

2013 12 31 39. 2012 1 1 (34.8) 19.9 (14.9) (86.5) 52.7 (33.8) 2012 12 31 (121.3) 72.6 (48.7) (38.2) 5.9 (32.3) 2013 12 31 (159.5) 78.5 (81.0) 2013 12 31 5.6420129.73 40. 1 2012 1 1 15,000,000,000 15,000.0 5,522,079,293 5,522.1 25,765,000 25.7 2012 12 31 15,000,000,000 15,000.0 5,547,844,293 5,547.8 5,665,000 5.7 2013 12 31 15,000,000,000 15,000.0 5,553,509,293 5,553.5 5,665,0002.82 5.11 12.496 2,265,000400,0003,000,000 1 140 2013

2013 12 31 41. 2009 5 13 2019 5 13 28 1 (i)(ii) (iii) 10% 30% 12 1% (a)0.1% (b)500 2013 10 82009 5 13 5,05022 173 2013 141

2013 12 31 41. 2013 12 31 2012 1 1 2012 2012 12 31 2013 2013 2013 2013 12 31 2009 7 13 2009 7 13 2010 1 12 2010 8 31 2010 8 31 2011 2 27 2011 3 17 2011 3 17 2011 9 16 2013 10 8 2013 10 8 2014 4 7 2013 10 8 2013 10 8 2015 4 7 2013 10 8 2013 10 8 2016 4 7 2009 7 13 2009 7 13 2010 1 12 2009 7 13 2009 7 13 2011 1 12 2009 7 13 2009 7 13 2012 1 12 2010 5 19 2010 5 19 2010 11 18 2010 5 26 2010 5 26 2010 11 25 2013 10 8 2013 10 8 2014 4 7 2013 10 8 2013 10 8 2014 10 7 2013 10 8 2013 10 8 2015 4 7 2013 10 8 2013 10 8 2015 10 7 2013 10 8 2013 10 8 2016 4 7 2013 10 8 2013 10 8 2016 10 7 2013 10 8 2013 10 8 2017 10 7 2013 10 8 2013 10 8 2018 10 7 2010 1 13 2019 1 12 2011 2 28 2020 2 27 2011 9 17 2020 9 16 2014 4 8 2023 4 7 2015 4 8 2023 4 7 2016 4 8 2023 4 7 2010 1 13 2019 1 12 2011 1 13 2019 1 12 2012 1 13 2019 1 12 2010 11 19 2019 11 18 2010 11 26 2019 11 25 2014 4 8 2023 4 7 2014 10 8 2023 10 7 2015 4 8 2023 4 7 2015 10 8 2023 4 7 2016 4 8 2023 4 7 2016 10 8 2023 4 7 2017 10 8 2023 4 7 2018 10 8 2023 4 7 2.82 5,500,000 (1,000,000) 4,500,000 (1,500,000) 3,000,000 7.48 5,000,000 (2,000,000) 3,000,000 3,000,000 12.496 111,000,000 111,000,000 (3,000,000) 108,000,000 22 1,000,000 1,000,000 22 1,000,000 1,000,000 22 1,000,000 1,000,000 2.82 5,090,000 (1,265,000) 3,825,000 (565,000) 3,260,000 2.82 10,000,000 (10,000,000) 2.82 10,000,000 (10,000,000) 5.11 1,400,000 (400,000) 1,000,000 (400,000) 600,000 5.03 260,000 260,000 260,000 22 14,129,000 (4,000) 14,125,000 22 1,000,000 1,000,000 22 14,074,000 (4,000) 14,070,000 22 500,000 500,000 22 14,057,000 (4,000) 14,053,000 22 500,000 500,000 22 500,000 500,000 22 500,000 500,000 2009 7 13 2013 10 8 2013 10 8 2013 10 8 2009 7 13 2010 1 12 2013 10 8 2014 4 7 2013 10 8 2015 4 7 2013 10 8 2016 4 7 2010 1 13 2019 1 12 2014 4 8 2023 4 7 2015 4 8 2023 4 7 2016 4 8 2023 4 7 2.82 2,250,000 (1,100,000) 1,150,000 (200,000) 950,000 22 734,000 734,000 22 734,000 734,000 22 732,000 732,000 150,500,000 (25,765,000) 124,735,000 50,460,000 (5,665,000) (12,000) 169,518,000 10.14 3.22 11.57 22.00 8.11 22.00 14.79 142 2013

2013 12 31 41. 20.58 119,070,000 2012124,735,000 2013 10 84.36 (Black-Scholes pricing model) (Binomial option pricing model) 2009 7 13 2010 5 19 2010 5 26 2010 8 31 2011 3 17 2013 10 8 166,700,000 1,500,000 500,000 5,000,000 116,000,000 50,460,000 6 30 6 6 6 6 6 60 2.82 5.11 5.03 7.48 12.14 22 5 6 9.5 9.5 9.5 5 9.5 2.82 5.11 5.03 7.48 12.496 22 1.79 1.79 1.81 2 66.46% 56.77% 56.16% 49.56% 54.83% 47.549% 1.74 1.94% 2.47% 2.35% 1.89% 2.49% 2.034% 3.26% 1.76% 1.79% 1.87% 3.33% 3.182% 2008 7 2013 2 2013 9,980 4602012 20 9,520201220 2013 143

2013 12 31 42. 2012 1 1 3,800.1 562.9 6,083.7 10,446.7 94.0 (36.8) 57.2 (0.1) (0.1) 0.2 0.2 13 (4,157.9) (4,157.9) 5,891.3 5,891.3 2012 12 31 3,894.0 526.3 7,817.1 12,237.4 57.5 (17.3) 40.2 99.9 99.9 13 (5,550.8) (5,550.8) 3,564.6 3,564.6 2013 12 31 3,951.5 608.9 5,830.9 10,391.3 34.95201258.25 43. (a) (b) (c) 3.2620125,040 7.77 2013 12 31371.45 144 2013

2013 12 31 44. 2013 2012 2013 2012 4.6 2.5 287.1 231.6 22.4 10.0 529.6 720.3 204.7 39.1 72.8 131.1 231.7 51.6 889.5 1,083.0 1 13 255 2013 12 318.12 20129.51 2013 2012 241.9 157.3 497.4 663.0 72.8 131.0 812.1 951.3 45. 2013 2012 2013 2012 26,785.6 138.6 2,340.0 657.7 2013 145

2013 12 31 45. 2013 12 31 8.86 2012 12 3170 2013 12 31300 46. 2013 2012 67.3 56.3 67.3 20.0 20.0 87.3 56.3 87.3 47. 5%1,000 2012 6 1 1,250 2003 7 1 146 2013

2013 12 31 48. (a) A 2013 2012 A A 48(c) 247.9 247.7 48(d) 159.1 145.4 48(d) (n) 129.9 122.2 48(d) 113.7 104.8 48(d) 61.5 56.3 48(d) 14.8 15.8 48(e) 49.0 41.0 A 48(f) 1.5 12.9 48(g) 25.1 22.3 48(d) (g) 29.5 23.9 48(d) (g) 17.3 17.4 48(g) 16.1 20.9 A 48(j) 8.0 A A 48(h) 1,942.7 1,638.3 48(i) 44.5 44.6 A 48(g) 76.2 69.0 48(g) 64.6 47.9 A 48(m) 36.0 48(m) 11.3 2013 147

2013 12 31 48. (a) 2013 2012 48(k) 1,718.3 1,444.1 62.4 49.1 0.3 3.6 20.5 18.8 0.1 6.5 18.2 17.7 84.5 5.8 14.4 14.4 (b) (c) (d) 2002 2002 2002 4 1 2008 6 18 2013 12 31 4302012220 2008 6 18 2020 3 31 48(a) 2008 6 18 2011 6 19 48(g) 2013 12 31 148 2013

2013 12 31 48. (e) 37 2013 12 31 4,90020124,100 2013 12 31371.45 (f) 2008 6 18 (i) (ii) 2011 6 19 2013 12 31 48(a) (g) (h) (i) 14A.31(2) 14A.33(3) 2010 2 19 2009 10 1 2020 3 3121 14A.11(4)(b)(ii)2011 6 3 50% 2011 6 24 2011 6 24 2013 12 31 2013 12 31 2013 12 2013 149

2013 12 31 48. (j) 2011 11 202012 1 1 (i) (ii) (iii) 800 (iv) (k) (l) 38 (i) (ii) 11.76 (i) (ii) (iii) (iii) (iv) (m) 222012 12 314.8 A 22 1,120 (n) 2013 11 222014 1 1 (i)(ii) 2.88(iii)(iv) 150 2013

2013 12 31 48. 2007 11 STDM STDM STDM (a) (b) 2008 6 26 2011 8 STDM 2011 12 31 STDM STDM 49. 2014 2 6 75% 50. (a) 2013 2012 25,000 100% 100% Brilliant Sky Investments Limited 1 100% 100% 1,000,000 100% 100% 1,000,000 100% 100% 2013 151

2013 12 31 50. (a) 2013 2012 1,000,000 100% 100% 1 100% 100% 1,000,000 25,000 100% 100% 51% 51% 50,000 51% 51% 25,000 51% 51% 10,000,000 51% 51% 1 100% 100% 25,000 100% 100% 2 100% 100% SJM 1,000,000 100% 100% 1 100% 100% Sky Reach Investments Limited 1 100% 100% A 2.7 B 3,000 100% (a) 100% (a) 1 100% 100% 152 2013

2013 12 31 50. (a) (a) (b) (c) (d) AB 90% 10% A AA B BB B 1 100% 2013 2012 3 3 2 2 14 14 4 3 1 1 4 4 23 22 28 27 2013 153

2013 12 31 50. (b) 2013 2012 2013 2012 2013 2012 49% 49% 16.4 6.3 52.1 35.8 2013 2012 678.7 643.7 2,210.9 2,414.4 (448.5) (366.6) (2,710.0) (2,993.7) (268.9) (302.2) 2013 2012 1,075.3 1,223.4 (1,064.4) (1,274.1) 33.6 (52.3) 443.9 351.2 348.1 (853.9) (312.6) 463.1 479.4 (39.6) 154 2013

12 31 2009 2010 2011 2012 2013 34,352.8 57,653.3 76,092.0 79,518.9 87,650.9 34,065.8 57,195.0 75,514.4 78,884.1 86,956.3 812.3 3,532.4 5,345.8 6,826.6 7,774.9 (17.5) (17.6) (35.0) (74.9) (52.5) 794.8 3,514.8 5,310.8 6,751.7 7,722.4 906.7 3,559.4 5,307.6 6,745.4 7,706.0 (111.9) (44.6) 3.2 6.3 16.4 794.8 3,514.8 5,310.8 6,751.7 7,722.4 12 31 2009 2010 2011 2012 2013 23,366.5 28,889.4 33,020.0 37,293.8 42,368.5 (14,847.1) (15,714.0) (15,773.4) (17,379.8) (18,913.3) 8,519.4 13,175.4 17,246.6 19,914.0 23,455.2 2013 155

2013 5 31 1 30 3001 3006 (852) 3960 8000 (852) 3960 8111 http://www.sjmholdings.com ir@sjmholdings.com 2008 7 16 880 1,000 35 183 17 1712 1716 (852) 2862 8555 (852) 2865 0990 http://www.computershare.com.hk hkinfo@computershare.com.hk Herbert Smith Freehills Riquito Advogados 156 2013

Suites 3001 3006, 30th Floor, One International Finance Centre, 1 Harbour View Street, Central, Hong Kong 香港中環港景街 1 號國際金融中心一期 30 樓 3001 3006 室 http://www.sjmholdings.com

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