Investor Presentaiton

Debt Structure Analysis RMB loans 40.7% Debt Structure USD million 800 600 400 200 Offshore Debt Maturity Date ENN 新奥 2016 2017 2018 2019 2020 2021 USD loans 59.3% 6% 10-year bond due in 2021 (USD715 million) 13.25% 5-year bond due in 2019 (USD65 million) Zero coupon convertible bond due in 2018 (USD500 million) IFC loan (US$113 million) ➤ In response to RMB depreciation and onshore interest rate reduction, the Group repaid USD370 million debt, and refinanced by RMB2.5 billion bond during the year Currently, US Dollar debt amounted to USD1,393 million, the Group will keep track of the movement of exchange rate fluctuation, and will take appropriate measures to reduce FX risk 8

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