HKEX_AR Cover_CHI_Digital_170316

388

2 4 5 7 12 2016-2018 18 20 34 35 60 68 71 86 88 91 95 102 104 110 111 112 113 114 115 116 205 207 2015 1

4 CCASS A LME 15 2 2015

1 3 2015 3

2015 2014 13,375 9,849 36% 3,290 2,958 11% EBITDA 1 10,085 6,891 46% 7,956 5,165 54% 6.70 4.44 51% 3.08 1.83 68% 2.87 2.15 33% 5.95 3.98 49% 90% 90% 2015 134 LME2015 1 1LME Clear 2014 9 4.45 2014 11% LME Clear EBITDA2014 5% 75% 54% 79.56 EBITDA 2015 2014 79.9 56.2 42% 25.7 13.3 93% 105.6 69.5 52% 394,174 274,879 43% 374,346 301,797 24% LME 670,189 700,204 (4%) 1 EBITDA 4 2015

2015 15 2015 2015 2 1 LME LME Clear 2015 2015 12 31 134201436% 54% 79.56 2.87 5.95 2014 49% 2015 1.1 26.1 2.2 189,824,363 13,968,838 ( 2015 9 25 ) 1 2 1 2 2,631 6.3 2015 2015 2015 5

QDII2 2016 1 21 LME 2016-2018 2015 LME 2015 12 2015 3 2015 2015 2015 13 2016 3 2 6 2015

2015 2015 A 2013-2015 2016-2018 2015 2014 13% 2,631138 1 8,5252014 20% 1.1 2015 2014 52% 1,056 2015 4 92,939 2015 15 2,000 1 2015 2015 7

189,824,363 2014 33% 7,266,980 2014 7,960,406 69.5 86.4 164.9 101.5 71.9 373 204 436 236 624 322 496 323 334 308 2014 2014 2015 2015 2015 2015 2015 7 3 2016 2016 2 242016-17 8 2015

2015 LME 1.696 2014 4% LME LME LME 2014 7% 2,070LME 230 2014 2% LME 2015 11 25 LME LME LME 2016 3 1 2016 5 1 LME LME LME LMEselect LME 2015 8 2015 LMELME LME 2015 10 21 LME LME Clear LME LME Clear LME 20152015 11 30 2015262,433 2015 2016 2015 9

LME Clear Bank of England LME Clear 2015 11 17 64 34 2015 7 6234 2015 4 9 261 2015 11 2016-2018 2016-2018 2016-2018(i) (ii) 10 2015

2015 2016-2018 2015 2016 3 2 2015 11

2016-2018 2016-2018 2016-2018 2016-2018 12 2015

2016-2018 15 2016-2018 2016-2018 3 LME LME LME LME 2015 13

2016-2018 3 2014 11 A LME 14 2015

2016-2018 LME Clear LME LME LME LMEQDII2 LME LME 2016-2018 2015 15

2016-2018 2012 2016-2018 LME LME 16 2015

2016-2018 2016-2018 LME 2015 17

* 1 * * 2 * 2 * 3 4 7 8 7 9 5 7 * 5 * 5 * 3 1 6 9 5 9 5 7 8 9 * ** 65 1 2015 4 29 2018 2 2015 4 29 2017 3 2015 4 29 2017 4 2015 4 29 2018 5 2015 4 29 6 2018 10 15 3 18 2015

9 9 5 5 10 7 9 7 8 7 9 5 7 2015 4 30 8 2015 4 30 9 2015 4 30 10 2015 4 30 11 2015 3 5 12 2015 3 5 9 5 7 11 12 12, 7 9 12, 7 12, 7 ** 13 7 ** 14 ** 15 ** 16 ** 17 7 ** 13 ** ** 16 ** 18 13 2015 7 1 14 2016 2 26 15 2016 1 20 16 2015 7 1 17 2016 2 26 18 2016 1 20 2015 19

LME LMEH 65 2012 4 23 2012 4 27 2014 4 16 2016 * (2010~) (2011~) (2012~) Anglo American plc (2008-2014) (2001-2003) GKN plc (1997-2001) * (2003-2011) 1 (2013~) (2015~) 2 (2013~) (2012~) (2013~) * 1 2016 1 1 2 2015 8 15 20 2015

LME 1 (2005~) 54 2009 10 16 2010 1 16 2018 10 15 59 2009 4 23 2015 4 29 2018 Brown & Wood (1993-1994) Davis Polk & Wardwell (1991-1993) (2003-2009) (1994-2003 (1999-2003)) (2012~) 1 2015 10 15 AFFIN Holdings Berhad (2013~) CVC Capital Partners Limited (2010~) Mongolian Mining Corporation* (2010~) Rizal Commercial Banking Corporation (2011~) * (2009~) (2008) (1980-2007 (2005-2007) (2004-2005) (2003-2005)) * (2012-2014) (2014~) (2013~) (2012~) (2014~) (2016~) 1 * 1 2016 1 1 2015 21

71 2012 4 23 2014 4 16 2016 Aquarius Platinum Limited (2006~) (2012~) Savills plc (2012~) * (2008~) * (1997-2014) * (2005-2015) (2001-2012 (2001-2012) (2005-2012) (2001-2004)) (2000-2006) (1996-2000 (1999-2000)) (1967-1996 (1993-1996) (1975-1996)) (2015~) * * (2015~) 55 2015 4 29 2015 4 29 2017 * (2010-2015) * (2011-2014) * (2008-2015) (1996-2015 (2011-2015) (2010-2011) (2005-2010)) (2010~) (2012~) (2011~) * 22 2015

(2003~) (2004~) (2012~) 63 2015 4 29 2015 4 29 2017 59 2011 4 20 2015 4 29 2017 (1977-1998 (1992-1998) (1988-1992) (1984-1988) Marsh & McLennan Companies (2003-2011) (1998-2003 (2001-2003) (1998-2001)) LME LME Clear * (2011~) BW Group Limited (2010~) BW LPG Limited (2013~) * (2015~) (1977-2010 (2008-2010) (2003-2009) (1987-2009)) * 2015 23

52 2014 11 10 2015 4 29 2018 * (2014~) * (2011~) Lloyd s (2014~) (2011~) * (2010~) (2008~) (1996~) (1997-2010 (2008-2010) (2000-2010)) (1991-1996) * 63 2000 4 3 2014 4 16 2017 (2006~) * (1992~) (1991~) (1992~) Bloomberg LP (2006-2010) (1991-2000) (1997-2000) (2011~) * 24 2015

* (2009~) * (2013~) (2010~) 60 2000 4 3 2014 4 16 2017 Coopers and Lybrand (1978-1981) (1981-1990) (1990-2010) (2013~) (2011~) (2013~) (2014~) (2012~) Magna Cum Laude * 2015 25

63 2013 4 24 2015 4 29 2017 * (2013~) * (2014~) * (2012~) * (2013~) QBE Insurance Group Limited (2013~) * (2013~) (2014~) (2014~) * (2009-2012) (2003-2009) * (2005-2012) (2007-2010) 1 (2012~) (2008~) (2009~) (2013~) * 1 2015 12 1 SAIL Advisors Limited (2011~) Search Investment Group Limited (2012~) (2007~) 57 2008 6 18 2015 4 29 2018 (2000-2007) (1998-2007) NatWest Investment Services (1992-1994) (1994-1998) Search Investment Group Limited (2007-2011) Heriot-Watt University 26 2015

60 2003 4 15 2013 4 24 2016 57 * (2014~) (2016~) 1 * (2014~) JPMorgan Chinese Investment Trust plc (2014~) * (2013~) ARN Investment Sicav (2010-2014) (2001-2005) * (2012-2013) (2009-2012 2013-2014) (2008-2012 2013-2016) 1 (2012) (2008-2011) INVESCO Asia Limited (1998) (2013-2014) (1999-2000) * 1 2016 1 11 (1988-2000) 2000 6 2015 27

(2001-2013 (2011-2013) (2009-2011) (2004-2009) (2002-2004) (2001-2002)) (2001) (1997-2001) (1993-1997) 50 2013 8 (2015~) (2014~) (2015~) Kellogg School of Management Systek Information Technology Limited (1991-1993) Westpac Banking Corporation (1987-1991) (1985-1987) 59 1993 5 28 2015

LME LME Clear LME Clear (2013-2015) Turquoise Global Holdings Limited (2010-2012) (2007-2009) (1994-2006) LME Clear 2016 1 1 51 2013 1 LME 57 2013 1 LME (2011-2013) (2004-2011(2008-2011) (2009-2011) (2004-2008)) (2001-2004) Freshfields Bruckhaus Deringer LLP (1982-2001 (1991-2001)) (2013~) (2013~) 2015 29

LME (LME LME 57 2013 9 (2013-2015) (2009-2012) (2007-2012 (2009-2012) (2007-2009)) ICAP Electronic Broking (2003-2006) Brokertec Europe Limited (1999-2003) (2012-2013) (2010-2012) (2006-2010) (1983-2006 (1991-2006) (2000-2005)) 58 2013 1 2016 1 1 52 (2013-2015) (2010-2013) (2008-2010) (2000-2008 (2006-2008) (2003-2006)) Indosuez WI Carr Securities (1997-2000) (Magna Cum Laude 2010 2 30 2015

(2014-2015) (2013-2014) (2010-2011)(2007-2010 2012-2013) (2005-2007) (2000-2005) (1997-2000) 2016 1 1 57 1997 3 52 2011 10 (2014~) (2015~) (2013~) Chi-X Global (2008-2011) Cicada Corporation (1999-2008) Telerate Inc (1985-1999) 2015 31

(2015) (2013-2015) Shanghai Billionton Metal (2004-2012) 2016 1 1 49 2013 3 (2014~) (2013~) (2015) (2013-2015) (2001-2013) WellPoint Inc (1993-2001) 2016 1 1 52 2013 3 LME Clear (2013-2014) (2012-2013) (2013-2014) CME (2005-2011 (2009-2011) (2009)) 2015 1 1 37 2011 9 32 2015

LME Clear 2016 1 1 56 2011 11 LME 2016 1 1 53 1998 7 (2014-2015) LME Clear (2013-2015) LME (2011-2013) European Central Counterparty Ltd(EuroCCP) (2007-2011) (2001-2006) (1996-2001) (2012~) (2014-2015) (2013-2014) (2010-2013) (2003-2010) (1998-2000) ABN-Amro Bank NV (1995-1998) Royal Bank of Canada (1994-1995) (1984-1994) 2015 33

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 10 11 12 13 14 15 16 17 18 19 5 4 3 2 1 6 7 8 9 34 2015

2015 HKFRSs 2014 AB 534 60% H 18 GOVERNANCE MD & A ORGANISATION OVERVIEW 2015 35

LME 12 LME 2016 12 31 LME Week LME LME LME Dinner PFMI LME Clear LME LME ClearLME (OMD-D) (OTP-C) CCASS 36 2015

+24 +31 +36 +43 +7 +192 82 430 651 1,598 2,761 3,435 60 420 703 2,252 1,666 3 163 451 1,049 2,179 5 206 411 1,557 1,274 170 176 928 1,735 154 177 1,404 532 63 725 1,998 3,503 185 5,002 604 157 867 3,118 256 465 465 499 499 525 180 74 175 451 5 2014 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 2015 EBITDA EBITDA * +26 +37 +68 +48 +12 +46 GOVERNANCE MD & A ORGANISATION OVERVIEW 83% 85% 76% 80% 55% 69% 83% 86% 67% 70% 70% 75% 6,891 10,085 2,300 2,904 1,266 1,733 706 1,189 2,917 4,310 313 351 2014 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 2015 % EBITDA = EBITDA * 4 2015 37

2015 2014 1, 2 79.9 56.2 42% 2 6.4 5.6 14% 1, 2 1,197,332 889,684 35% 3 104 103 1% 34 19 79% 12 31 1,644 1,548 6% 12 31 222 204 9% 1,866 1,752 7% 12 31 24,426 24,892 (2%) 12 31 258 179 44% 1 34 20149 2 2014 11 3 14 20147 2015 2014 260.3 230.3 13% 833.2 699.0 19% 2.8 2.2 27% 19.3 11.2 72% 1,115.6 942.7 18% 2015 2015 2015 2015 31,550 (2015 26,540 (2014 5 26 ) 9 4 ) 19,746 16,895 (2007) 79.9 68.7 (2007) 2,171 1,168 (2014) 138 122 (2014) 1,115.6 942.7 (2014) 852.5 710.2 (2014) 38 2015

2015 2015 2016 2015 2015 1 1 HKFRSs 2014 8 2015 2 2015 12 31 2015 4 1 2014 8 2015 6 2015 7 2015 12 2016 1 1 2017 1 1 1 2015 (i) (ii) 13.24 GOVERNANCE MD & A ORGANISATION OVERVIEW 12(10 2015 39

21 2015 2014 1 256 232 149 140 120 104 101 121 180 26 26 180 19 13 2 151 148 170 124 6 6 18 12 3 156 135 4 9 13 9 7 3 4 74 39 1 2172014194 39 (201438 2 2015 14201421 120148 3 18 (201413 4 2015120142 2014 10 12015 1% 2014 2% 2015 2014 54,688 48,761 2,085 1,761 1 13,757 7,417 558 445 26 22 1 2015 1,93120141,356 182 2014129 40 2015

2015 2014 2015 2014 25 21 3 3 1 6 2 0 2 2 1 1 0 3 3 3 51 37 7 8 1 20145 2015 2015 2014 1 52 2, 3 60 4 5 4 4 1 1 0 1 5 5 14 1 2 2015 22 82% 2015 2014 20 80% 2014 3 20152 4 5 GOVERNANCE MD & A ORGANISATION OVERVIEW 2015 41

20142015 2 42015 2 13 86% 21,710 201411,680 2015 2014 2,171 1,168 14 12 3 6 12 31 133 122 12 31 26 26 12 31 34 34 12 31 29 20 2015 A 6 2 2 1 1 1 1 exchangetradedfunds.com 11 th Annual ETF Global Awards Most Informative ETF Website in Asia-Pacific Asia Asset Management ETF and Indexing Awards 2015 Best ETF Exchange 2015 2015 2014 172015 360% 100 10,000 2015 2 20146,800 19 100 42 2015

H 2016 2016 AHETF 2015 2014 1 2,252 1,598 41% 1 703 651 8% 1 420 430 (2%) 60 82 (27%) 3,435 2,761 24% 2 (531) (461) 15% EBITDA 2,904 2,300 26% EBITDA 85% 83% 2% 1 2 2,500 2,000 1,500 562 799 1,957 2,252 GOVERNANCE MD & A ORGANISATION OVERVIEW 1,000 1,380 1,197 1,598 500 0 890 295 218 2014 2015 # # # 6.54(41%) (42%) 1 1 50% 2015 43

2015 2014 590 532 11% 105 111 (5%) 8 8 0% 703 651 8% 700 600 500 400 300 1,752 532 1,866 590 2,000 1,750 1,500 1,250 1,000 750 (11%) (7%) 2014 200 500 100 250 0 2014 2015 12 31 0 160 138 140 140 120 100 80 60 122 95 111 105 84 120 100 80 60 6 40 40 20 0 16 21 2014 2015 20 0 44 2015

2,200 (27%) EBITDA 7,000(15%) EBITDA83%85% 2015 2014 25.7 13.3 93% 242,948 172,815 41% 1 393,948 274,844 43% 374,346 301,797 24% 6,336 7,560 (16%) 11,213 9,983 12% 1, 2 21,555 11,903 81% 2015 2014 12 31 12 31 1 7,266,630 7,958,356 (9%) 1 2 8% 20146% 2015 2015 2015 25.7 19.4 (2007) 6,345 4,771 (2007) 11,213 9,983 (2014) GOVERNANCE MD & A ORGANISATION OVERVIEW 2015 2015 1 189,768,610 142,430,249 (2014) H 33,379,310 21,984,297 (2014) H 7,506,543 3,429,393 (2014) 262,433 205,049 (2014) 729,013 459,190 (2013) H 15,304,215 8,998,897 (2014) H 39,848 36,621 (2014) 92,463,479 74,543,861 (2014) 1 5,237,882 2,892,507 (2014) 1 2015 45

2015 (2015) (2015) 4 13 1,221,324 5 27 11,159,128 H 8 26 467,559 12 29 519,817 H 7 8 74,511 H 9 4 188,957 9 25 2,618,350 8 25 94,001 8 12 8,061 5 29 105 H 6 26 44,480 12 30 101,430 400 350 300 250 200 150 100 50 0 302 135 69 86 89 62 28 41 30 30 36 374 2014 2015 2015 5 2015 12 84 18 2015 45450 options Greeks 6,000 2015 34 6 40 60% 2015 12 31 74 46 2015

2015 8 11 3%8,0612015 262,433 2014 28% 2015 1 2015 6 11 2015 1 2015 7 2016 HKATS 2015 10 2016 1 2016 2015 3 2015 8 H GOVERNANCE MD & A ORGANISATION OVERVIEW 2015 47

2015 2014 1,557 1,049 48% 411 451 (9%) 206 163 26% 5 3 67% 2,179 1,666 31% 1 (446) (400) 12% EBITDA 1,733 1,266 37% EBITDA 80% 76% 4% 1 2,000 1,500 1,000 133 257 275 394 1,557 500 0 393 701 42 173 243 60 501 # ^ 662 113 302 374 ^ 134 1,049 2014 2015 # # ^ 20151.95 20141.36 20156,100 20144,900 (93%) 2015 H 48 2015

1,000 800 600 400 200 0 EBITDA 447 4 9,983 7,560 451 11,213 6,336 411 2014 2015 406 4 1 12,000 10,000 8,000 6,000 4,000 2,000 0 4,600(12%) EBITDA 76% 80% 4,000 (9%) 2015 2014 LME 247,198 272,015 (9%) 162,247 161,403 1% 51,271 51,756 (1%) 81,817 76,533 7% 118,723 125,846 (6%) 8,933 12,651 (29%) GOVERNANCE MD & A ORGANISATION OVERVIEW 670,189 700,204 (4%) 2015 2014 12 31 12 31 2,314,219 2,268,769 2% 2015 49

LME LME2015 1 12015 LME 2014 4% 2015 2,314,219 2% 2,507,186 2015 LME LCH Borsa Istanbul LME 2015 LME 2015 LME LME LMELME LME LME 2015LME LME 2015LME (i)lmeselect(ii) LMEselect(iii) (iv) LMEselect (v) LMEselect (vi) 2015 12 14 2015 LME LME2016 12 31 LMELME 50 2015

LME 2015 5 LME 700 1,600LME 2016 2016 6 14 2015 10LME Week China Reception400 30 20 LME LME Clear 2015 10 21 LMELME Clear LMELME 2015 2014 1,404 928 51% 177 176 1% 102 117 (13%) 52 53 (2%) 1,735 1,274 36% (546) (568) (4%) EBITDA 1,189 706 68% EBITDA 69% 55% 14% GOVERNANCE MD & A ORGANISATION OVERVIEW 2,000 800 1,500 1,000 700 670 700 600 500 400 4% LME2015 1 1 4.76 (51%) 1,404 300 500 928 200 100 0 2014 2015 0 2015 51

EBITDA 2,200(4%)2015 500 20144,300 2014 5 EBITDA68% 11.89 EBITDA 2014 55% 2015 69% 2015 2014 105.6 69.5 52% CCASS 254.7 205.6 24% 2015 4 European Union Capital Requirements Regulation Committee on Payments and Market Infrastructures Board of the International Organization of Securities Commissions 2015 2Public Quantitative Disclosure Standards for Central Counterparties 2015 3 2015 A A CCASS CCASS 2015 12 2016 4 52 2015

2015 7 25%5% 2015 9 2015 PFMI 1.60 3,800 1.18 2015 20151,260 4203.53 2015 2016 2016 Foreign Exchange deliverables LME Clear 2015LME Clear 2015 LME Clear LME Clear LME LME LME 2016LME Clear LME The Markets in Financial Instruments Directive 2 2 2015 2014 256 185 38% 3,118 1,998 56% 867 725 20% 157 63 149% 4,398 2,971 48% 604 532 14% 5,002 3,503 43% (692) (586) 18% GOVERNANCE MD & A ORGANISATION OVERVIEW EBITDA 4,310 2,917 48% EBITDA 86% 83% 3% 2015 53

4,000 3,000 695 1,056 2,000 3,118 1,000 0 2,547 700 1,900 2,056 768 670 1,998 577 1,331 511 445 35 187 660 47 LME Clear 2014 2015 LME 2014 9 LME Clear 6.60 20141.87 LME Clear (52%) (24%) 1.42 (20%) 2014 11 2015 2014 3,800LME Clear 2014 9 LME Clear LME Clear 54 2015

180 160 140 120 100 80 60 40 20 0 73.1 5.6 67.5 2014 2015 ^ * 157.8 10.7 147.1 ^ LME Clear 2014 9 22LME Clear LME Clear ^ 2014 9 22 LME Clear * 2014 11 17 A 2015 2014 570 21 591 490 22 512 14 14 20 20 (1) (1) 583 21 604 510 22 532 0.40% 0.19% 0.38% 0.75% 0.40% 0.73% 2015 2014 0.73% 2015 0.38% LME Clear EBITDA 18%2014 9LME Clear 43% EBITDA2014 83% 2015 86% 2014 6(OCG) 2015OCG 2016 6 OCG OCG GOVERNANCE MD & A ORGANISATION OVERVIEW 2015 55

AMS 2015 (OTP-C) 2015 10 OTP-C 2016 2016 2017 2015CCASS 750 1,250 2015 4 9360 (NGCCP) NGCCP 2015 12 2016 2017 2015 2014 389 356 9% 105 98 7% 5 11 (55%) 499 465 7% (148) (152) (3%) EBITDA 351 313 12% EBITDA 70% 67% 3% 3,300(9%)OCG 2014 56 2015

700 (7%) EBITDA 400(3%) 7% EBITDA 67% 70% 2015 2014 74 175 (58%) 445 6 5 20% 525 180 192% 15 12 9 6 3 0 10.9 2014 2015 14.3 2014109 2015143 GOVERNANCE MD & A ORGANISATION OVERVIEW 2015 57

2015 2014 71 76 30 53 30 66 (57) (20) 74 175 0.52% 1.62% LMELCH 3,100 2014 2,300 LCH 2015 1.09 LME LME 2015 4.45 +18 +1 0-23 -43 +52 1,716 2,020 510 517 294 294 53 41 175 99 210 319 2014 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 2015 3.04(18%)LME 58 2015

7,200 20148,100 4.45 20144.29 LME 7,600(43%)201520144,300 500 1.09(52%) LME Clear 2015 2014 684 647 6% 3,700(6%)2015 2015 2014 114 196 (42%) 2015 2014 7 2015 2014 1,347 900 50% 2015 6,500 GOVERNANCE MD & A ORGANISATION OVERVIEW 2015 59

2015 2015 799* 104 34 2015 12 31 1,644 2015 12 31 222 * 2015 10,940* 220* 11,160* 2015 3,435 2,179 1,735 5,002 499 525 13,375 (531) (446) (546) (692) (148) (927) (3,290) 1 2 3 4 5 EBITDA 2,904 1,733 1,189 4,310 351 (402) 10,085 (85) (87) (275) (148) (43) (46) (684) (114) (114) (9) (9) 2,819 1,637 914 4,162 308 (562) 9,278 (1,347) 7,931 25 7,956 2014 12 31 6 8,067 A 150,041 128,711 13,263 7 59,679 8 17,901 9 1,626 10 22,613 251,860 11 138,910 LME Clear 7 59,679 12 7,026 13 24,886 230,501 12,955 (482) 8,800 21,273 86 21,359 251,860 2015 14 8,321 512 (710) (239) 17 (3,017) (71) (227) 91 4,677 2015 1 1 8,067 2015 12 31 12,744 { 2015 257* 1 393,948* 374,346* 6,336 11,213* 1 * 2015 2015 LME 670,189 2015 1,056* CCASS 2,547 * 2015 2015 12 31 { 6 12,744 A 138,611 98,146 27,721 7 64,480 8 17,872 9 1,582 10 15,648 238,193 11 122,687 LME Clear 7 64,480 12 3,409 13 17,655 208,231 19,715 (590) 10,691 29,816 146 29,962 238,193 60 2015

2015 2015 1 1 12,225 142 588 12,955 3 3 3,180 3,180 183 183 (7) (7) 135 135 (126) (126) 3,877 (409) 3,468 (76) (76) 2015 12 31 19,285 199 231 19,715 2015 7,956 (6,212) 18 (8) 266 (135) 6 1,891 2015 1 1 8,800 2015 12 31 10,691 2015 134 LME2015 1 1LME Clear 2014 9 4.45 2014 11% LMEClear EBITDA 75% 2014 5% 54% 79.56 EBITDA 2015 EBITDA 1 EBITDA6.04 2 EBITDA4.67 3 EBITDA4.832015 1 1 LME 4 EBITDA13.93 LME Clear LME Clear 5 EBITDA3,800 6 1,144.16 20141,288.69 156.36 2014102.64 84.30 2014102.89A 1.29 20146.19 7 644.80 2014596.79 LME Clear LME 8 2,9004.45 4.27 9 4,400 2.39 5,900 2.55 10 135.29 2014204.10 11 1,152.13 2014 1,294.8474.74 201494.26 LME Clear LME Clear 12 2014 12 31 37.015 20172015 13 136.58 2014210.29 14 2014 36.48 GOVERNANCE MD & A ORGANISATION OVERVIEW 2015 61

2015 2015 2015 2015 2015 2,796 4,057 3,747 2,775 13,375 (718) (862) (881) (829) (3,290) EBITDA 2,078 3,195 2,866 1,946 10,085 (163) (162) (175) (184) (684) 1,915 3,033 2,691 1,762 9,401 (46) (31) (18) (19) (114) (2) (3) (2) (2) (9) 1,867 2,999 2,671 1,741 9,278 (298) (485) (347) (217) (1,347) 1,569 2,514 2,324 1,524 7,931 6 6 6 7 25 1,575 2,520 2,330 1,531 7,956 2014 2014 2014 2014 2014 1,178 1,189 1,287 1,511 5,165 5,000 4,000 3,000 2,000 1,000 0 101.5 86.4 2,520 2,330 68.3 70.9 57.5 1,575 1,178 1,189 1,287 164.9 80.7 71.9 1,511 1,531 180 160 140 120 100 80 60 40 20 0 2015 A 30% H LME LME Clear LME LME Clear 2014 4.45 62 2015

5,000 4,000 3,000 2,000 1,000 0 2,796 48 111 1,001 447 464 725 4,057 28 137 1,656 439 636 1,161 3,747 430 125 1,339 436 575 2,775 19 126 1,006 413 504 842 707 2015 2015 2015 2015 2015 65.5 129.0 75.9 51.3 79.9 20.9 35.9 25.6 20.6 25.7 86.4 164.9 101.5 71.9 105.6 309,356 422,477 443,304 400,212 394,174 363,322 523,860 375,780 241,192 374,346 LME 695,771 695,399 654,770 636,638 670,189 1,498 2,124 1,552 1,162 6,336 2,287 3,066 3,799 2,061 11,213 1 19 18 26 41 104 9 5 7 13 34 1 143272 4.45 GOVERNANCE MD & A ORGANISATION OVERVIEW 1,000 800 600 400 200 0 718 27 69 128 494 862 881 129 144 70 75 123 134 540 528 829 159 80 132 458 * 12 7,700 * 2015 63

(A) 2015 2014 12 31 12 31 110,890 136,778 (19%) 72,705 62,686 16% 19,496 10,256 90% 203,091 209,720 (3%) A 2015 2014 12 31 12 31 15,636 10,264 52% 1 114,416 128,869 (11%) 8,430 10,289 (18%) LME Clear 64,480 59,679 8% A 129 619 (79%) 203,091 209,720 (3%) 1 7.97 2014 12 316.15 2015 2014 12 31 12 31 LME Clear 64,480 59,679 8% 6 1 500% 115,213 129,484 (11%) 7,474 9,426 (21%) 187,173 198,590 (6%) 2015 12 31 2014 12 31LME Clear LME Clear 64 2015

644.80 2014 12 31596.79 LME Clear LME 2015 12 31 2014 12 31 53.72(52%) 2014 2015 (B) 2015 12 31 2014 12 31 195.040.72 194.32 0.59 0.11 6.846.82 2015 12 31 9.61 2014 12 315.74 (C) 2015 12 312016 1 22 The Stock Exchange Club Limited (D) 2015 12 31 GOVERNANCE MD & A ORGANISATION OVERVIEW 2015 65

2015 2014 12 31 12 31 13,529 20,410 (34%) 794 611 30% 461 831 (45%) 776 753 3% (4) (82) (95%) 15,556 22,523 (31%) 13,658 21,029 (35%) 324 508 (36%) 172 338 (49%) 1,131 974 16% 15,285 22,849 (33%) 2015 12 (E) 2015 12 31 2014 12 31212.73298.16 31.65 37.34 17.44 2.27 % 40,000 35,000 30,000 24 27 30 2015 3% 25,000 20 20,000 15,000 10,000 21,273 29,816 10 5,000 0 2014 2015 1 1 0 2015 12 3149.71 145.95 2014 12 3196.24 79.56 2014 2015 30.47 20155 2014 12 31 37.01 157.62 66 2015

2015 12 31 2015 12 31 2014 12 31 1,585 2020 7 1,585 2020 7 2021 7 2021 7 2.8% 1,516 2018 12 1,515 2018 12 2019 1 2019 1 3,701 2017 10 308 225 3,409 7,026 2015 12 3112% 2014 12 3134%0% 2014 12 310% LME 2015 12 31 170.12 2014 12 31170.12 100 2014 12 31100 70 2014 12 3170 2015 12 31 170 2014 12 31 170 130 2014 12 31 130 2015 12 3192% 2014 12 3193% 50 GOVERNANCE MD & A ORGANISATION OVERVIEW 52(a)(i) 46 2015 67

2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 105.6 69.5 62.6 53.9 69.7 69.1 62.3 72.1 88.1 33.9 394 275 284 260 269 222 206 207 171 100 374 302 249 228 303 246 192 225 188 74 LME * 670 700 676 634 * 2012 12 6 LME 13,375 9,849 8,723 7,211 7,855 7,566 7,035 7,549 8,390 4,147 (3,290) (2,958) (2,777) (1,957) (1,733) (1,505) (1,392) (1,511) (1,333) (1,111) EBITDA 10,085 6,891 5,946 5,254 6,122 6,061 5,643 6,038 7,057 3,036 (684) (647) (507) (158) (90) (107) (101) (110) (79) (100) LME (138) (114) (196) (183) (55) (55) 206 (9) (10) (10) (3) 6 27 9,278 6,038 5,246 4,845 6,032 5,954 5,542 5,928 7,190 2,963 (1,347) (900) (700) (761) (939) (917) (838) (799) (1,021) (445) 7,931 5,138 4,546 4,084 5,093 5,037 4,704 5,129 6,169 2,518 25 27 6 7,956 5,165 4,552 4,084 5,093 5,037 4,704 5,129 6,169 2,518 5.95 3.98 3.54 3.31 4.25 4.20 3.93 4.29 5.19 2.13 6.70 4.44 3.95 3.75 4.71 4.66 4.36 4.76 5.76 2.36 19,622 19,672 20,797 20,260 1,580 2,350 2,637 425 884 454 218,571 232,188 65,146 60,577 52,448 45,534 42,695 62,397 87,070 40,207 (203,976) (222,564) (57,538) (55,337) (44,809) (39,160) (36,985) (55,220) (79,273) (35,134) 14,595 9,624 7,608 5,240 7,639 6,374 5,710 7,177 7,797 5,073 34,217 29,296 28,405 25,500 9,219 8,724 8,347 7,602 8,681 5,527 (4,255) (7,937) (7,887) (7,736) (60) (47) (320) (308) (305) (270) 29,962 21,359 20,518 17,764 9,159 8,677 8,027 7,294 8,376 5,257 (146) (86) (113) 29,816 21,273 20,405 17,764 9,159 8,677 8,027 7,294 8,376 5,257 1 24.74 18.26 17.59 15.48 8.50 8.06 7.46 6.79 7.83 4.94 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 2 25% 30% 32% 27% 22% 20% 20% 20% 15% 27% 2 69% 61% 60% 67% 77% 79% 79% 79% 84% 71% 3 27% 24% 22% 23% 56% 58% 59% 70% 74% 48% 1.1 1.0 1.1 1.1 1.2 1.2 1.2 1.1 1.1 1.1 1 12 31 2 3 68 2015

16,000 120 14,000 12,000 10,000 100 80 2012 12 LME2013 8,000 6,000 4,000 2,000 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 60 40 20 0 2007 20082009 2008 2010 2011 2012 2013 2014 2015 1 1 LME LME Clear 2014 9 2015 GOVERNANCE MD & A ORGANISATION OVERVIEW 2013 LME 2015 69

8.00 7.00 6.00 5.00 4.00 3.00 90% 2.00 1.00 0.00 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 250,000 1.6 200,000 150,000 1.4 1.2 1.0 0.8 2014 T+2 100,000 50,000 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 0.6 0.4 0.2 0 LME Clear 2014 9 LME Clear 2014 $ 30.00 25.00 20.00 15.00 10.00 5.00 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 * * 70 2015 % 100 90 80 70 60 50 40 30 20 10 0 20062007 2008 2007 2008 2009 2011 2012 2012 12 77.08 2015 70.57 2008 20102011 2012 2012 122014

2015 12 31 2015 2015 A.4.1 A.4.2 CG / IR / ORG 2015/2016 86 87 88 90 91 94 95 101 102 103 ORG IR CG CSR 2013-20152015 2016-2018 2016-2018 2016-2018 2015 2 2013-2015 2015 9 3 2015 12 2016-2018 2016 1 2016-2018 2015 71

2013 CG 4 1 3 3 1 1 4 6 6 9 5 4 5 51-55 61-65 1-4 13-16 0-1 4-5 56-60 66-71 5-8 2-3 6-7 10% 10% 19% 23% 30% 36% 38% 22% 6% 6% 2015 3 2016 3 2 (Apurv Bagri) 2016 2015/2016 72 2015

CG ORG 2015 2015 73

2015 4 } 2015 10 CG 2015 20151720 443 2015 1 2 2 3 3 1 2 2015 4 29 3 2015 4 29 74 2015

2015 2015 9 2015 2015 2015 75

2015 2015 1 11 4 1 6 4 2 1 5 3 6 1 38 8 1 3 7 1 1 8 5 6 1/1 11/11 1/1 6/6 2/2 5/5 3/3 6/6 1/1 11/11 4/4 2/2 1/1 3/3 6/6 2 1/1 11/11 2/2 4/4 2/2 3/4 3 8/8 2/3 3/3 4 8/8 2/3 1/1 11/11 4/4 3/3 5 1/1 9/11 3/3 1/1 6 1/1 3/3 1/1 1/1 1/1 11/11 4/4 6/6 1/1 5/5 7 1/1 3/3 1/1 1/1 1/1 1/1 8 1/1 11/11 1/1 6/6 1/1 5/5 9 1/1 11/11 4/4 1/1 3/3 4/6 1/1 11/11 4/4 1/1 2/2 5/5 10 1/1 11/11 4/4 1/1 1/1 1/1 11/11 1/1 6/6 11 4/4 12 1/2 5/6 11 1/4 13 1/1 6/6 12 2/2 6/6 100% 99% 95% 100% 100% 100% 100% 100% 96% 93% 85% 1 1 2015 3 5 2 2015 4 30 3 2015 4 29 2015 4 30 2015 4 30 12 31 4 2015 4 29 2015 4 30 2015 4 30 12 31 5 2015 4 30 6 2015 4 29 7 2015 4 29 8 2015 4 30 2015 4 30 12 31 9 2015 4 29 2015 4 30 10 2015 4 30 11 2015 7 1 12 2015 7 1 13 2015 4 30 2015 15 76 2015

1 2015 2 65 CG / ORG 3 ORG 1 2015 2 1 3 2 ORG 201532018 10 15 2016 1 2016-2018 ORG 2015 77

37 (5%) 6.5 (1%) 7 (1%) 67 (9%) 403.5 (55%) 2015 215 (29%) 736 ORG 2015 CSR 2015/2016 2015 2015 12 31 352 XV 78 2015

1 15,000 2 15,000 0.00 3,101 3 3,101 0.00 701,855 4 701,855 0.05 1 2015 12 31 1,208,536,325 2 3 4 403,419 2015 12 31 352 XV 2015 18 XV 2007 9 7 9 2015 12 31 59% 5% 61 61 2015 12 31 336 XV JPMorgan Chase & Co 34,789,930 } 4,567,164 608 24,218,395 1 63,576,097 2 5.26 66,730,300 3 66,730,300 5.52 2015 79

1 JPMorgan Chase & Co 10,441,802 10,441,802 4 0.86 1 2015 12 31 1,208,536,325 2 JPMorgan Chase & Co 5,601,267 2,399,5771,304,600 1,243,699 10,549,143 24,218,395 3 2012 11 30 4 JPMorgan Chase & Co 2,536,722 1,945,4324,423,550 1,286,457 10,192,161 2015 12 31 336 2015 12 31 7,472 46,003 425,577 20,914 9,332 43,935 19,876 61,778 5,844 77,261 4,327 33,139 130,457 84,982 292,458 59,382 57,801 34,804 26,437 3,173 27,934 8,976 19,480 13,783 78,120 115,928 58,572 80 2015

2000 6 (A) (B) (C) 2015 A. B. C. CCASS (i) CCASS CCASS (ii)ccass (iii) CCASS 1 2015 14A.55 Hong Kong Standard on Assurance Engagements 3000 (Revised) 3000 Assurance Engagements Other Than Audits or Reviews of Historical Financial Information Practice Note 740 Auditor s Letter on Continuing Connected Transactions under the Hong Kong Listing Rules 14A.56 2015 81

2015 49 49(a) 49(b) 14A.76 14A.95 2015 12 31 2015 12 31 2015 3 45 Committee of Sponsoring Organizations of the Treadway Commission (COSO) 2013 CG 2015/2016 82 2015

CG 2015 290 329 info@hkex.com.hk (852) 2868 4084 (852) 2840 3330 2015 2015 2015 83

2015 12 31 68% 2016 IR 20155% IR 5% ssd@hkex.com.hk 2016 ssd@hkex.com.hk CG CG CG 100% 2015 12 31 1 12 ssd@hkex.com.hk 84 2015

2015 2015 2015 IR 2015 1 2014 2014 2.15 10% 10% 10% 2,100,000 200,000 120,000 2 180,000 120,000 2 1 2015 2 3,000 2016 2016 2016 4 28 2016 2015 2016 2016 IR 2016 2016 2015 250 200 150 100 50 0 44 42 56 31 44 50 83 34 44 73 77 31 32 30 72 89 108 2011 2012 2013 2014 2015 49 94 31 % 40 30 20 10 0 2016 3 2 2015 85

ORG 5 2015 2015 2015 2015 2016 2015 2016 12 2016 2015 2015 3 2015 2017 2015 3 2015 4 29 2018 2015 2016 2013 CG 2015 12 86 2015

2016 2 22(Apurv Bagri) 2016 1 2015 IR 3.13 2015 2015 81 82 2016 2 22 3.13 9 2016 2 22 2015 87

ORG 5 2015 2015 4 2015 2015 2016 2015 2015 2015 2015 12 312015 12 31 88 2015

2015 12 31 (i)committee of Sponsoring Organizations of the Treadway Commission (COSO) Internal Control Integrated Framework (2013)2013 (ii) (iii) 2015 2015 14A.55 (i) (ii) (iii) (iv) 14A.56 2015 89

(i) (ii) 2015 2015 2014 13 12 6 4 2 1 21 17 2016 2016 2016 2 29 90 2015

ORG 5 2015 2015 32015 123 2015 2015 2016 LME Clear 2015 2015 2015 91

2015 2015 CG 92 2015

2015 ISO 31000 2009 (i) (ii) (iii) (iv) 2015 2015(i)LME LME Clear(ii) 2014(iii) 2015 11 2015 12 2015 93

2015 (LME LME Clear) 1 4 50% LME 1 2015 50% 2 1 2015 2 2014 2016 2 24 94 2015

ORG 5 2015 2015 5 2015 2015 2016 LME LME Clear 2015 2016 2015 2016 LME LME Clear 2015 2016 100 2015 2016 2017 2015 2016 2016 2017 2015 95

1 2,100,000 700,000 200,000 120,000 3,000 1 180,000 120,000 3,000 1 20142015 2015 2014 926,000 784,500 3,136,536 2,367,367 957,000 871,500 1 720,000 1 621,000 2,600,961 2,508,079 2 799,000 99,167 3 203,000 784,500 1,417,334 1,006,500 3 383,247 1,317,000 991,000 1,006,500 929,000 781,500 957,000 894,000 884,500 792,277 15,525,578 13,895,439 4 1 2015 4 29 2 2014 11 10 3 2015 4 29 4 2014 10 31 682,549 96 2015

2015 2016 2015 11 12 (i) 2016 1 (ii) 2015 (iii) 2.553 246 1,200 2016 (iv) 1,125 2016 2018 (i) EBITDA (ii) (iii) (iv) 5 CG 2015 12 31 1,502 66 2015 2015 97

2015 2015 2014 2015 1 3 2 2 9,000,000 15,000,000 108,264 69,660 1,125,000 25,302,924 19,993,054 19,916,945 4 2015 2014 2015 1 3 2 2 2,677,560 3,174,970 22,841 334,695 6,210,066 5,191,199 2,591,711 3,084,480 6,986,370 43,215 12,740 385,560 10,512,365 9,113,304 1,483,158 5 2,666,360 3,412,941 27,298 453,281 6,559,880 6,439,864 2,483,579 4,691,040 5,881,350 71,463 586,380 11,230,233 9,910,620 3,367,011 5 5,332,721 6,785,591 22,073 906,562 13,046,947 12,492,422 3,775,832 3,708,000 5,803,820 73,959 463,500 10,049,279 8,323,938 1,669,007 4,691,040 6,631,350 73,143 20,150 586,380 12,002,063 10,569,299 5,551,153 2,913,840 3,981,590 71,828 364,230 7,331,488 5,938,625 2,922,075 3,213,600 2,889,980 35,563 401,700 6,540,843 5,445,544 2,197,999 2,829,000 6,250,000 42,587 282,900 9,404,487 3,052,896 137,850 2,958,084 3,082,830 57,396 369,761 6,468,071 5,902,737 1,372,001 3,000,000 2,634,000 42,956 375,000 6,051,956 5,126,480 1,352,539 5 3,546,852 6,837,733 27,298 602,965 11,014,848 8,794,868 4,876,869 3,528,000 4,898,780 72,916 441,000 8,940,696 7,184,841 3,376,808 1 18%18% 7 100% 2 3 2015 12 31 4 2015 12 4 5 2015 LME 1 5 16 17 2010 5 30 2010 5 302015 1 25 22,654,000 16,228,000 98 2015

2015 12 31 2015 1 2015 1 1 12 31 2 2005 1 26 19.25 144,000 144,000 2007 1 26 2015 1 25 1 177.04 2 25% 41(a) 2005 9 14 3% 31,871,575 1% 10,623,858 2015 (i) 2020 9 13 2025 12 31 (ii) (iii) ORG 2015 12 9 2.6655 160,685 41(b) 8,346,023 0.8% 2015 12 31 3,261,783 2015 12 31 2015 99

2014 12 31 2 2015 1 1 1 2015 12 31 3 2012 12 31 70,556 37,030 955 37,985 2014 12 3 2015 12 3 2014 12 3 23,733 4 23,733 611 24,344 5 2013 2015 2014 12 3 48,681 48,681 1,254 24,967 24,968 2015 12 9 2016 12 9 2014 12 3 47,467 4 47,467 1,224 48,691 2014 2016 2015 1 2 88,345 2,284 90,629 2016 12 15 2017 12 15 2015 1 2 95,100 4 2,458 97,558 2015 2017 2015 12 31 60,429 60,429 2017 12 9 2018 12 9 2015 12 31 56,800 4 56,800 2016 2018 2014 12 3 6,245 6,245 103 3,145 3,203 2015 8 1 2016 8 1 2014 12 3 8,439 8,439 216 4,327 4,328 2015 12 9 2016 12 9 2015 1 2 21,794 564 22,358 2016 12 15 2017 12 15 2015 12 31 16,114 16,114 2017 12 9 2018 12 9 2012 12 31 16,051 8,429 216 8,645 2014 12 3 2015 12 3 2014 12 3 5,626 5,626 142 2,884 2,884 2015 12 9 2016 12 9 2015 1 2 10,210 267 10,477 2016 12 15 2017 12 15 2015 12 31 7,553 7,553 2017 12 9 2018 12 9 2014 12 3 10,190 10,190 169 5,133 5,226 2015 5 1 2016 5 1 2014 12 3 8,191 8,191 208 4,199 4,200 2015 12 9 2016 12 9 2015 1 2 19,157 498 19,655 2016 12 15 2017 12 15 2015 12 31 14,854 14,854 2017 12 9 2018 12 9 2013 3 27 10,700 11,227 144 5,610 5,761 2015 1 9 2016 1 9 2014 12 3 16,878 16,878 434 8,656 8,656 2015 12 9 2016 12 9 2015 1 2 25,059 649 25,708 2016 12 15 2017 12 15 2015 12 31 21,653 21,653 2017 12 9 2018 12 9 2014 12 3 11,396 11,396 292 5,844 5,844 2015 12 9 2016 12 9 2015 1 2 39,163 1,013 40,176 2016 12 15 2017 12 15 2015 12 31 31,241 31,241 2017 12 9 2018 12 9 2014 12 3 8,439 8,439 216 4,327 4,328 2015 12 9 2016 12 9 2015 1 2 13,849 359 14,208 2016 12 15 2017 12 15 2015 12 31 14,603 14,603 2017 12 9 2018 12 9 2012 12 31 29,461 15,467 398 15,865 2014 12 3 2015 12 3 2014 12 3 28,131 28,131 724 14,427 14,428 2015 12 9 2016 12 9 2015 1 2 39,323 1,017 40,340 2016 12 15 2017 12 15 2015 12 31 30,214 30,214 2017 12 9 2018 12 9 100 2015

2 2015 1 1 1 2015 12 31 3 2012 12 31 14,851 7,799 200 7,999 2014 12 3 2015 12 3 2014 12 3 8,298 8,298 212 4,255 4,255 2015 12 9 2016 12 9 2015 1 2 11,468 298 11,766 2016 12 15 2017 12 15 2015 11 18 14,658 14,658 2017 3 1 2018 3 1 2015 12 31 28,703 28,703 2017 12 9 2018 12 9 2012 12 31 14,402 7,563 194 7,757 2014 12 3 2015 12 3 2014 12 3 11,252 11,252 290 5,771 5,771 2015 12 9 2016 12 9 2015 1 2 14,556 377 14,933 2016 12 15 2017 12 15 2015 12 31 14,100 14,100 2017 12 9 2018 12 9 2015 12 31 26,437 26,437 2017 12 9 2018 12 9 2014 12 3 6,188 6,188 158 3,173 3,173 2015 12 9 2016 12 9 2015 1 2 12,110 314 12,424 2016 12 15 2017 12 15 2015 12 31 12,337 12,337 2017 12 9 2018 12 9 2012 12 31 9,638 5,061 129 5,190 2014 12 3 2015 12 3 2014 12 3 6,892 6,892 176 3,534 3,534 2015 12 9 2016 12 9 2015 1 2 8,915 233 9,148 2016 12 15 2017 12 15 2015 12 31 6,798 6,798 2017 12 9 2018 12 9 2014 12 3 16,019 16,019 266 8,069 8,216 2015 4 25 2016 4 25 2014 12 3 21,582 21,582 554 11,068 11,068 2015 12 9 2016 12 9 2015 1 2 35,229 913 36,142 2016 12 15 2017 12 15 2015 12 31 22,694 22,694 2017 12 9 2018 12 9 2012 12 31 16,425 8,627 222 8,849 2014 12 3 2015 12 3 2014 12 3 14,065 14,065 360 7,212 7,213 2015 12 9 2016 12 9 2015 1 2 26,991 700 27,691 2016 12 15 2017 12 15 2015 12 31 23,668 23,668 2017 12 9 2018 12 9 1 2 3 4 4 5 2013-2015 23,614 2016 3 2 2016 2 17 2015 101

ORG 4 2015 20151 2015 2015 2016 CG / CSR 2015 2015 ISO 50001 : 2011 2015 240 7,800 3,600 2015 2016 20152015 102 2015

2015 2015 201530 2015 2015 2015 2016 2 18 2015 103

2015 12 31 LME LME Clear LME Financial Services and Markets Act 2000 (FSMA)2000 LME ClearEuropean Market Infrastructure Regulation (EMIR) LME 2015 12 31 27 4 2015 52 104 2015

2015 1 63(1) 21 38 2 PFMI FSMA 2001 I II Regulation on OTC Derivatives, Central Counterparties and Trade Repositories EMIR PFMI LME FSMA 290 LME Clear EMIR 24 41 76 PFMI LMEFCA LME FCA LME LME LME EMIR LME Clear LME Clear LME Clear EMIR LME Clear EMIR LME 2015 105

1 FSMA Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (SFR) 1999 PFMI LME Clear FSMA 290 LME Clear SFR LME Clear PFMI LME Clear LME Clear LME Clear LMEmercury Bank of England LME LME ClearSFR 11 SFR LME LME Clear PFMI LME LME ClearPFMI LME Clear 201 Bribery Act 2010 2010 4 8 9 2010 2015 8 LME LME Clear 2010 1 2 102 103 106 2015

2015 12 315 30% 5 2015 12 31 30% 2015 12 31 3.0820141.832015 9 24 37 201421 900 2014300 2016 5 62.872014 2.15 2015 5.952014 3.982015 12 31 90% 201490% 1,800 2014900 2,406,00020142,042,000 2015 7,800 20148,300 40 (i) (ii) 2014 2015 (iii) 37(b) 40(a) 40(c) 41(a) 40(a) 41(a) 37(b) 622 6 2015 12 31 66 2014 12 3170 2015 107

41 43 53(a) 2.27 1,137,4002015 2015 4 29 2015 4 29 2015 4 29 2015 4 29 Brian Geoffrey BENDER 2 Oliver Jens BETTIN 1 Marye Louise HUMPHERY 1 1 3 3 3 3 2 3 3 1 2 Marco Andrea STRIMER 3 1 Hugh Edward GRAHAM 3 3 1 Nathaniel Bernard LE ROUX Richard John THORNHILL 2 3 1 Elizabeth Noel HARWERTH 1 Hossein ZAIMI Roger Anthony HEPPER 1 3 1 2 3 108 2015

49 2015 2015 41(b) 2015 2015 2015 12 31 2015 12 31 2016 2016 2016 3 2 2015 109

111 204 2015 12 31 405 2015 12 31 2016 3 2 110 2015

2015 12 31 2015 2014 5 5,469 3,760 6 1,114 1,102 3,118 1,998 867 725 803 769 7 862 773 12,233 9,127 702 713 (24) (6) 8 678 707 9 445 10 19 15 4 13,375 9,849 11 (2,020) (1,716) 12 (517) (510) (294) (294) (41) (53) (99) (175) 13(a) 77 77 13(b) (396) (287) (3,290) (2,958) EBITDA 2(g) 10,085 6,891 (684) (647) 14 9,401 6,244 15 (114) (196) (9) (10) 4 9,278 6,038 18(a) (1,347) (900) 7,931 5,138 43 7,956 5,165 27(a)(i) (25) (27) 7,931 5,138 19(a) 6.70 4.44 19(b) 6.67 4.43 116 204 20 2015 111

2015 12 31 2015 2014 7,931 5,138 2(ad)(iii) (7) (815) (7) (815) 7,924 4,323 7,949 4,350 27(a)(i) (25) (27) 7,924 4,323 116 204 112 2015

2015 12 31 2015 12 31 2014 12 31 21, 22 110,890 110,890 136,778 136,778 21, 23 72,705 72,705 62,686 62,686 21, 24 19,439 57 19,496 10,199 57 10,256 26 15,535 21 15,556 22,517 6 22,523 2 2 8 8 28 68 68 77 77 29 17,872 17,872 17,901 17,901 30 1,560 1,560 1,603 1,603 31 22 22 23 23 39(d) 22 22 5 5 218,571 19,622 238,193 232,188 19,672 251,860 32 64,486 64,486 59,680 59,680 21, 33 115,213 115,213 129,484 129,484 34 15,270 15 15,285 22,835 14 22,849 773 773 646 646 653 653 348 348 35 42 42 84 84 21, 36 7,474 7,474 9,426 9,426 37 3,409 3,409 7,026 7,026 38 65 70 135 61 58 119 39(d) 761 761 839 839 203,976 4,255 208,231 222,564 7,937 230,501 40 19,285 12,225 40 (590) (482) 41 199 142 2(ad)(iii) (254) (247) 37(b) 409 36, 42 778 643 2(z) (293) (217) 43 10,691 8,800 29,816 21,273 146 86 29,962 21,359 238,193 251,860 14,595 9,624 116 204 2016 3 2 2015 113

2015 12 31 40 41 37(b) 42 43 2014 1 1 11,154 105 568 409 586 (217) 7,800 20,405 113 20,518 5,165 5,165 (27) 5,138 (815) (815) (815) (815) 5,165 4,350 (27) 4,323 2013 1.72 (1,996) (1,996) (1,996) 2014 1.83 (2,133) (2,133) (2,133) 34(b) 29 29 29 12 12 12 874 874 874 (405) (405) (405) 105 (97) (8) 137 137 137 3 (3) 57 (57) 589 37 57 (4,165) (3,482) (3,482) 2014 12 31 11,743 142 (247) 409 643 (217) 8,800 21,273 86 21,359 2015 1 1 11,743 142 (247) 409 643 (217) 8,800 21,273 86 21,359 7,956 7,956 (25) 7,931 (7) (7) (7) (7) 7,956 7,949 (25) 7,924 2014 2.15 (2,533) (2,533) (2,533) 2015 3.08 (3,679) (3,679) (3,679) 34(b) 18 18 18 3 3 3 3,165 3,165 3,165 (227) (227) (227) 134 (126) (8) 183 183 183 18(b) 3 3 3 37(b) 3,877 (409) 266 3,734 3,734 135 (135) 37(d) (76) (76) (76) 48 3 3 85 88 6,952 57 (409) 135 (76) (6,065) 594 85 679 2015 12 31 18,695 199 (254) 778 (293) 10,691 29,816 146 29,962 116 204 114 2015

2015 12 31 2015 2014 44 8,321 4,673 (710) (665) 512 (426) 1,353 70 187 1 17 23 (420) 782 3 12 (227) (405) 737 (2) 1,589 (6) (2,326) (71) (83) (3,017) (3,234) 88 (3,224) (3,718) 4,677 1,737 1 1 8,067 6,375 (45) 12 31 12,744 8,067 22 12,744 8,067 116 204 2015 115

1. 1 12 2016 3 2 2. (a) (HKFRSs) HKFRSs (HKASs) 622 (b) HKFRSs 3 HKFRSs 2015 2015 1 1 HKFRSs HKAS 27 2010-2012 HKFRSs 116 2015

2. (b) HKFRSs HKAS 27 HKAS 27 2010-2012 HKFRSs HKFRSs HKFRS 8 HKAS 24 HKFRS 8 HKFRS 8 HKAS 24 HKAS 24 2015 1 1 HKFRSs 622 622 9 2015 117

2. (b) 2015 12 31 HKFRSs 2015 12 31 HKFRSs HKFRS 9 (2014) 1 HKFRS 15 1 HKAS 1 2 1 2018 1 1 2 2016 1 1 HKAS 1 HKFRS 9(2014) HKFRS 15 HKFRSs (c) (i) (ii) 118 2015

2. (d) (e) (f) (i) (ii) 2015 119

2. (f) (iii) T+1 A (LME) (iv) (CCASS) CCASSA (v) (vi) (vii) (g) EBITDA EBITDA EBITDA HKFRS (h) (i) 120 2015

2. (j) (i) (k) (ii) 41(b) HKEx Investment (UK) Limited LME Holdings Limited (LMEH) LME LME Clear Limited (LME Clear) LME LME (l) 2015 121

2. (m) 35 10 5 3 5 20 (n) 122 2015

2. (o) (i) (ii) LME (iii) 20 25 (iv) 2015 123

2. (o) (iv) 5 (p) 2(o) (q) LME Clear 124 2015

2. (q) (r) (s) (t) LME Clear LME Clear LME (i) A 2015 125

2. (t) (i) 12 12 (ii) 126 2015

2. (t) (iii) (iv) (v) 2015 127

2. (t) (vi) 180 128 2015

2. (u) (i) LME Clear (ii) (iii) (v) LME ClearLME Clear 2015 129

2. (w) CCASS T+1 A (x) 12 130 2015

2. (y) (z) 12 2015 131

2. (aa) (i) (ii) (ab) (ac) 132 2015

2. (ac) (ad) (i) (ii) (iii) 2015 133

2. (ae) A (af) (ag) (ah) 4 134 2015

2. (ai) 20 3. (a) 2(p) 29 (b) HKFRS 13 1 2014 12 31 2015 12 31HKFRS 131LME Clear 30.87 2014 12 31 27.64 52(a) (iv) 2015 135

4. 5 LMELME LME Clear 5 5 LME 136 2015

4. EBITDA EBITDA 2015 3,433 2,178 1,735 4,383 499 5 12,233 604 74 678 445 445 2 1 15 1 19 3,435 2,179 1,735 5,002 499 525 13,375 (531) (446) (546) (692) (148) (927) (3,290) EBITDA 2,904 1,733 1,189 4,310 351 (402) 10,085 (85) (87) (275) (148) (43) (46) (684) (114) (114) (9) (9) 2,819 1,637 914 4,162 308 (562) 9,278 615 71 686 (24) (24) 11 11 (27) (21) (25) (38) (2) (70) (183) 2 1 4 1 8 (1) 77 76 2015 137

4. 2014 2,761 1,666 1,274 2,956 465 5 9,127 532 175 707 15 15 2,761 1,666 1,274 3,503 465 180 9,849 (461) (400) (568) (586) (152) (791) (2,958) EBITDA 2,300 1,266 706 2,917 313 (611) 6,891 (89) (64) (322) (98) (46) (28) (647) (196) (196) (10) (10) 2,211 1,192 384 2,819 267 (835) 6,038 517 77 594 (6) (6) 15 15 (21) (16) (14) (29) (2) (55) (137) 1 (2) 77 76 (a) (b) 2 (i) 2015 2014 9,757 7,644 2,476 1,483 12,233 9,127 138 2015

4. (b) (ii) (c) 2015 12 31 2014 12 31 2,059 2,140 17,481 17,465 3 5 19,543 19,610 2015 2014 10% 5. 2015 2014 3,013 2,033 1,052 799 LME 1,404 928 6. 2015 2014 5,469 3,760 557 31 3 591 502 27 3 532 82 15 418 515 89 11 462 562 6 2 8 6 2 8 645 48 421 1,114 597 40 465 1,102 2015 139

7. 2015 2014 389 356 102 117 105 98 73 69 6 34 5 11 (a) 72 28 11 6 (b) 38 61 54 862 773 (a) (b) LME Clear LME Clear 2015 3,800 42 8. 2015 2014 686 594 (24) (6) 662 588 49 109 (33) 10 678 707 9. 20155.09 4.45 140 2015

10. 2015 2014 8 (a) 11 15 19 15 (a) CCASS 1109 7 1,100 2014 1,500 2015 12 31 1.57 2014 12 311.46 11. 2015 2014 1,686 1,446 41 183 137 14 12 (a) ORSO 103 92 2 1 LME 32 28 (a) 2,020 1,716 (ORSO) ORSO 5% ORSO 12.5% ORSO 10% 5%2014 6 1 1,2501,500 LME (LME 2014 5 1 LME LME 15% 17% 2014 5 1LME LME 3% 5%6% 10% LME LME 2015 141

12. 2015 2014 445 429 72 81 517 510 13. (a) 1.60 2015 12 31 7,700 2014 7,700 2015 7,700 2014 12 2015 1 2,300 2015 12 31 2014 5,400 42 (b) 2015 2014 14 9 26 21 31 13 50 36 66 45 27 20 15 16 41 34 17 14 9 7 7 5 93 67 396 287 142 2015

14. 2015 2014 29 (445) (405) (13) (12) (8) (5) 30 (239) (242) (203) (209) (28) (23) (37) 2 15. 2015 2014 37(a) 23 33 37(b) 42 113 37(c) 44 42 37(d) 7 7 (2) 1 16. 114 196 2015 12 31 2014 12 31 1 2015 2014 9,178 8,817 15,000 10,095 1,125 1,081 25,303 19,993 (a) 19,917 20,915 45,220 40,908 15,526 13,896 60,746 54,804 2015 143

16. (a) (b) 41(b) 2015 12 312014 12 31 2015 (i) (ii) 3,137 3,137 3,137 9,000 178 15,000 1,125 25,303 19,917 45,220 926 926 926 957 957 957 (iii) 720 720 720 (iii) 621 621 621 2,601 2,601 2,601 (iv) 799 799 799 (v) 203 203 203 1,417 1,417 1,417 991 991 991 (v) 383 383 383 929 929 929 957 957 957 885 885 885 15,526 9,000 178 15,000 1,125 40,829 19,917 60,746 2014 (i) (ii) 2,367 2,367 2,367 8,653 164 10,095 1,081 19,993 20,915 40,908 784 784 784 872 872 872 2,508 2,508 2,508 (iv) 99 99 99 (v) 785 785 785 1,007 1,007 1,007 1,007 1,007 1,007 (v) 1,317 1,317 1,317 781 781 781 (vi) 683 683 683 894 894 894 792 792 792 13,896 8,653 164 10,095 1,081 33,889 20,915 54,804 144 2015

16. (b) (i) (ii) 18% 18% 100% (c) (iii) 2015 4 29 (iv) 2014 11 10 (v) 2015 4 29 (vi) 2014 10 31 17. 201416 2014 2015 2014 18,476 18,581 26,136 20,473 2,682 2,714 47,294 41,768 (a) 17,571 10,358 64,865 52,126 (a) 41(b) 2015 145

17. (b) 2014 2015 2014 11,500,001 12,000,000 2 13,500,001 14,000,000 1 14,500,001 15,000,000 1 1 15,500,001 16,000,000 1 16,500,001 17,000,000 1 17,500,001 18,000,000 1 4 4 18. 16.5% 2014 16.5% 20.25% 2014 21.5% (a) 2015 2014 1,159 885 (2) 1,157 885 280 3 3 (11) 283 (8) 1,440 877 (28) 23 (i) (65) 39(a) (93) 23 1,347 900 (i) 2015 112015 Finance Act 2017 4 1 19% 2020 4 1 18% 6,500 146 2015

18. (b) 2015 2014 (2) 39(a) (1) (3) (c) LME 2015 2014 9,278 6,038 (i) 1,554 970 (190) (102) 33 41 (65) 14 2 1 (11) 1,347 900 (i) 19. 16.7% 2014 16.1% (a) 2015 2014 7,956 5,165 1,186,802 1,163,712 6.70 4.44 2015 147

19. (b) 2015 2014 7,956 5,165 41 7,997 5,165 1,186,802 1,163,712 6 350 2,721 1,286 8,841 1,198,370 1,165,348 6.67 4.43 (i) 2014 20. 2015 2014 3.082014 1.83 3,688 2,136 (a) (9) (3) 3,679 2,133 (b) 12 31 2.87 2014 2.15 3,468 2,511 12 31 (a) (9) (6) 3,459 2,505 7,138 4,638 (a) (b) (c) 12 31 12 31 2014 25.332014 12 31 2,800 2015 148 2015

21. A 22 3336 LME ClearLME LME Clear HKAS 32 5 LME Clear LME Clear CCASS 23 LME Clear LME HKAS 32 A 22 A A 25 A 2223 24 2015 149

22. 2015 12 31 (a) 36 (a) 33 A (a) 25 5,067 35,812 129 11,308 52,316 3,143 53,995 1,436 58,574 8,210 89,807 129 12,744 110,890 2014 12 31 (a) 36 (a) 33 A (a) 25 5,763 47,350 619 7,209 60,941 4,426 65,978 858 71,262 4,575 4,575 10,189 117,903 619 8,067 136,778 (a) A 23. 2015 12 31 33 25 79 79 106 106 185 185 712 712 1,000 1,000 5,844 478 6,322 5,844 2,190 8,034 52(b) 6 6 LME Clear 64,480 64,480 6 64,480 64,486 5,844 2,381 64,480 72,705 12 (a) 5,844 2,381 64,480 72,705 150 2015

23. 2014 12 31 33 25 117 117 126 126 156 156 399 399 487 487 828 828 895 384 1,279 895 1,699 2,594 52(b) 14 14 LME Clear 59,679 59,679 14 59,679 59,693 895 2,112 59,679 62,686 12 (a) 895 2,112 59,679 62,686 (a) 12 3.00 2014 12 31 8.95 52(b) 2015 151

24. 2015 12 31 36 33 25 3 220 18,765 454 19,439 57 57 220 18,765 511 19,496 12 220 18,765 454 19,439 12 57 57 220 18,765 511 19,496 2014 12 31 36 33 25 3 100 10,071 28 10,199 57 57 100 10,071 85 10,256 12 100 10,071 28 10,199 12 57 57 100 10,071 85 10,256 (a) 12 52(d)(ii) 152 2015

25. 2015 2014 12 31 12 31 22 12,744 8,067 23 2,381 2,112 24 511 85 15,636 10,264 26. 2015 2014 12 31 12 31 13,529 20,410 455 716 794 611 6 115 776 753 (b) (4) (82) (a) (b) (c) 15,556 22,523 2015 2014 1 1 82 158 (76) (76) (2) 12 31 4 82 60 3 2015 153

27. (a) 2015 12 31 929 929 230 28,750,000 100% 100% 2 2 (i) (vi) HKEx Property Limited (vi) HKEx International Limited (vii) (vi) (iii) (iii) (vi) The Stock Exchange Club Limited (iii) (viii) (iii) 100% 4,860 614,600,001 1,620 340,200,000 75% 2 2 100% 2 2 100% 1 1 100% 2 2 100% 1,000,000 1,000,000 100 100 100% 100% 8 8 100% 1,000,000 1,000,000 100% 2 20 CCASS 100% (iii) 2 2 100% HKEX Investment (UK) Limited LME Holdings Limited The London Metal Exchange 1 1 12,900,000 10 100 1 LME Clear Limited 107,500,001 1 100% 100% 100% 100% 154 2015

27. (a) 770,000 100% (iv) 820,000 100% (iv) Gangyu Information Services (Shenzhen) Limited (iv) (v) 100% (i) (ii) 2015 12 31 75% 25% 2,500 2014 2,7002015 12 31 1.46 20148,600 2015 12 31 1,100 2014 12 31 900 (iii) 2015 12 312016 1 22 The Stock Exchange Club Limited (iv) (v) 2015 12 31 500 (vi) (HKEx Hosting Services Limited) HKEx Property Limited (HKEx (China) Limited) (HKEx Information Services Limited) 2016 2 18 HKEX Hosting Services Limited HKEX Property Limited HKEX (China) Limited HKEX Information Services Limited (vii) HKEx International Limited 2016 2 23 HKEX International Limited (viii) The Stock Exchange Club Limited 2016 2 29HKEX Investment (China) Limited 2015 155

27. (b) 41(b) 41(b) 28. 2015 2014 12 31 12 31 68 77 (a) 2015 12 31 100,000,000 33.33% 100,000,000 2012 156 2015

29. 2014 1 1 13,750 930 3,288 1,059 19,027 (580) (39) (176) (25) (820) 416 416 2014 12 31 13,170 891 3,112 1,450 18,623 2015 1 1 13,170 891 3,112 1,450 18,623 (8) (1) (3) (1) (13) 427 427 2015 12 31 13,162 890 3,109 1,876 19,037 2014 1 1 147 200 347 (14) (16) (30) 136 269 405 2014 12 31 269 453 722 2015 1 1 269 453 722 (1) (1) (2) 129 316 445 2015 12 31 397 768 1,165 2015 12 31 13,162 890 2,712 1,108 17,872 2014 12 31 13,170 891 2,843 997 17,901 2014 1 1 13,750 930 3,141 859 18,680 2015 12 31 336 336 2014 12 31 373 373 4.45 2014 4.05 2015 157

29. 2012 LME 4 2015 12 31 2014 12 31 10,306 697 10,312 698 2,856 193 2,858 193 13,162 890 13,170 891 EBITDA 2015 12 31 2014 12 31 EBITDA 62% 66% 68% 71% 3% 3% 3% 3% 9% 9% 10% 10% EBITDA 2015 12 312014 12 31 11% 2014 12 3113% 2015 12 31 2014 12 31 158 2015

30. 2014 1 1 70 727 1,361 444 405 631 3,638 (3) (1) (4) 3 17 81 101 (2) (2) (14) (18) (3) (2) (5) 2014 12 31 70 724 1,362 456 403 697 3,712 2015 1 1 70 724 1,362 456 403 697 3,712 60 76 3 116 255 (70) (16) (11) (20) (19) (136) 2015 12 31 708 1,411 512 406 794 3,831 2014 1 1 12 51 1,192 256 34 340 1,885 29 42 72 26 73 242 (2) (2) (14) (18) 2014 12 31 12 80 1,232 326 60 399 2,109 2015 1 1 12 80 1,232 326 60 399 2,109 28 35 83 26 67 239 (12) (15) (11) (20) (19) (77) 2015 12 31 93 1,256 389 86 447 2,271 2015 12 31 615 155 123 320 347 1,560 2014 12 31 58 644 130 130 343 298 1,603 2014 1 1 58 676 169 188 371 291 1,753 2015 12 31 83 8 41 132 2014 12 31 4 23 59 86 2015 159

31. 2015 2014 1 1 23 23 (1) 12 31 22 23 32. LME Clear 2015 12 31 2014 12 31 LME Clear (a) 64,480 59,679 52(b) 6 1 64,486 59,680 (a) LME ClearLME HKAS 32 LME Clear 33. 2015 12 31 2014 12 31 (a) 21 6,773 8,964 45,123 42,356 4,103 7,478 54 40 LME Clear 59,160 70,646 115,213 129,484 22 89,807 117,903 23 5,844 895 24 18,765 10,071 794 611 3 4 115,213 129,484 (a) 160 2015

34. 2015 12 31 2014 12 31 13,658 21,029 324 508 85 120 (b) 230 216 172 338 816 638 (a) (b) (c) 15,285 22,849 1,100 20141,50010 1,800 2014 2,900 43 3 35. 2015 12 31 2014 12 31 36 22 64 (a) 20 20 42 84 (a) 46(b) 2015 161

36. 21 2015 12 31 2014 12 31 (a) 7,474 9,426 156 156 (b) 42 778 643 8,408 10,225 22 8,210 10,189 24 220 100 8,430 10,289 35 (22) (64) 8,408 10,225 2,926 2,234 542 1,326 1,134 1,879 505 203 158 157 LME Clear 3,143 4,426 8,408 10,225 (a) (b) 37. 2015 12 31 2014 12 31 (a) 1,585 1,585 (b) 3,701 (c) 1,516 1,515 (d) 308 225 3,409 7,026 162 2015

37. 2015 12 31 2014 12 31 2015 12 31 2014 12 31 793 1,824 5,441 792 1,585 (a) 1,585 1,585 1,824 5,441 2015 12 31 6 2014 12 317 1.4% 20141.8%1.5% 2014 2.0% (b) 2012 10 23 538.75 0.5% 2017 10 23 2012 12 3 2017 10 13 1602014 4 26 157.62 LME2015 12 31 157.62 24,594,225 2012 12 17 HKEx International Limited 2015 163

37. (b) 2015 12 31 1.43 402.66 43 2015 2014 1 1 3,701 3,607 (i) 15 42 113 (7) (19) (2) (3,734) 12 31 3,701 (i) 3.1%(20143.1%) (c) 2013 122014 1 17.75 9,500 7.37 2018 12 2019 1 2.9% 2014 2.9% (d) 2015 2014 1 1 225 218 (i) 76 (ii) 15 7 7 12 31 308 225 (i) (ii) 2013 102015 81,200 420 2.52 8,800 210,000 3.0% 2014 3.0% 164 2015

38. 2015 1 1 61 58 119 13 80 93 (68) (68) (3) (6) (9) 2015 12 31 71 64 135 (a) (b) 39. 15 12 (a) (b) (c) 2015 2014 1 1 834 853 (1) (42) 18(a) (93) 23 18(b) (1) 12 31 (d) 739 834 2015 12 31 6.66 2014 12 31 5.96 2014 2015 2014 2015 2014 2015 2014 2015 2014 2015 2015 1 1 141 139 747 816 31 22 (70) (117) (15) (7) 834 853 (1) (40) (2) (1) (42) 27 2 (91) (29) (31) 11 6 47 (4) (8) (93) 23 (1) (1) 2014 12 31 168 141 655 747 31 (64) (70) (20) (15) 739 834 2015 165

39. (d) 2015 12 31 2014 12 31 (22) (5) 761 839 739 834 (e) 2015 12 31 2014 12 31 12 (14) (4) 12 (8) (1) (22) (5) 12 745 790 12 16 49 761 839 739 834 166 2015

40. 2014 1 1 1,160,119 1,161 10,167 (174) 11,154 2014 3 3 (a) 121 2 2 2014 3 3 (b) 10,169 (10,169) 2014 3 3 (a) 539 10 10 (c) 5,959 879 (5) 874 2014 3 3 41 3 3 (d) (2,299) (405) (405) (e) 825 3 102 105 2014 12 31 1,165,264 12,225 (482) 11,743 2015 1 1 1,165,264 12,225 (482) 11,743 (a) 144 3 3 (c) 15,559 3,180 (15) 3,165 (d) (1,137) (227) (227) (e) 853 134 134 37(b) 24,594 3,877 3,877 2015 12 31 1,205,277 19,285 (590) 18,695 (a) (b) 144,0002014660,500 300 2014 1,200 2014 3 3 2015 167

40. (c) 2015 2014 4,532,307 286.64 1,299 1,299 (21,660) 286.64 (6) (6) 2015 11,100,157 169.40 1,881 1,881 (51,576) 169.40 (9) (9) 15,559,228 3,180 (15) 3,165 2014 2013 5,098,366 140.22 715 715 (17,017) 140.22 (2) (2) 2014 891,617 183.60 164 164 (13,913) 183.60 (3) (3) 5,959,053 879 (5) 874 (d) 41(b)1,137,400 20142,298,7002.27 20144.05 (e) 852,317 2014 825,261 1.34 2014 1.02 2014 300 168 2015

41. 2015 2014 1 1 142 105 11 183 137 40 (3) (126) (97) 12 31 199 142 (a) (i) (ii) 2003 5 2005 1 10 2015 1 40(b) 2015 2014 1 1 19.25 144 18.32 804 1 19.25 (144) 18.12 (660) 12 31 19.25 144 1 177.012014137.34 2014 12 31 19.25 0.07 2015 169

41. (b) 2005 9 2013 (i) LME (ii) 2013 12 17 2015 (i) 2025 12 31(ii) (iii) 2015 6 17 (i) (i) (ii) (iii) 2010 5 133 170 2015

41. (b) (i) 2014 2015 2014 12 3 4,530 178.54 2015 4 15 2016 4 15 2014 12 3 60,734 178.54 2015 4 25 2016 4 25 2014 12 3 66,972 178.54 2015 5 1 2016 5 1 2014 12 3 7,629 178.54 2015 6 10 2016 6 10 2014 12 3 6,245 178.54 2015 8 1 2016 8 1 2014 12 3 1,480 178.54 2015 10 14 2016 10 14 2014 12 3 782,610 1,2 178.54 2015 12 9 2016 12 9 2014 12 3 1,790 178.54 2016 1 6 2017 1 6 2014 12 3 4,782 178.54 2016 1 20 2017 1 20 2015 1 2 1,386,492 1,2 171.89 2016 12 15 2017 12 15 2015 11 18 17,364 209.67 2015 11 23 2016 5 1 2015 11 18 8,941 209.67 2015 12 9 2016 12 9 2015 11 18 10,749 209.67 2017 1 19 2018 1 19 2015 11 18 14,658 209.67 2017 3 1 2018 3 1 2015 11 18 3,908 209.67 2017 4 13 2018 4 13 2015 11 18 4,177 209.67 2017 10 7 2018 10 7 2015 11 26 1,900 211.14 2017 11 23 2018 11 23 2015 12 31 1,179,457 1,2 199.07 2017 12 9 2018 12 9 1 48,681 88,345 60,429 2014 12 32015 1 2 2015 12 31 2 92,46998,608160,685 2014 12 32015 1 22015 12 31 2014 2015 813,851 2014 773,155 1.26 2014 9,700 59,6182014 70,526 2015 171