Investor Presentaiton

Impact of the HKTO amendments Many industry participants agree that those statutory enactments have modernised Hong Kong's trust regime and put the city back on the map as a key trust jurisdiction. ▸▸ The impact of 2013 HKTO amendments on the growth of trust-related business >> Proportion of assets held by Hong Kong-domiciled trusts KPMG 20% 39% Increasing 41% Some Relatively static Minimal / No impact ■ Significant Decreasing Source: Joint KPMG and HKTA survey 0% 10% Source: Joint KPMG and HKTA survey 20% 30% 40% 50% 60% ©2017 KPMG, a Hong Kong partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in Hong Kong. Document Classification: KPMG Confidential

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