Investor Presentaiton

Investment schemes for accessing China A-shares- QFII, RQFII and Stock Connect QFII RQFII Shanghai-Hong Kong Stock Connect (North Bound) Launch Year 2002 Scheme Currency Eligible Entities USD Eligible Investments Commercial banks, securities companies, fund management firms, insurance companies, pension funds, sovereign wealth funds. Size and operational experience qualifications apply Stocks, bonds, funds, warrants, IPOs, index futures Total Allocated Quota and USD 81bn, 273 entities 2011 RMB Financial institutions based in 15 jurisdictions e.g. USA, Hong Kong, U.K., France, Singapore, Germany, South Korea, Australia, Switzerland, Luxembourg, Canada Same as QFII RMB 502bn (USD 76bn), 165 entities 2014 RMB All Hong Kong and overseas investors (including both retail and institutional) No approval needed • All constituents stocks of SSE180 and 380 Indexes • • All dual listed shares (H shares that have A-shares in Shanghai SE) Exceptions: Stocks on "risk alert board", IPOS RMB 300bn (USD46bn) in aggregate balance # of Licensees (May 2016) Liquidity FTSE Russell • • RMB 13bn (USD2bn) daily cap. 3 months lock up period (Was 1 year, before Feb. 2016) • Open-Ended Funds: 1-year injection • period. Daily injection and repatriation, no lock up period Daily and no restriction for sell transaction Open-ended funds can invest/repatriate on a daily basis (Was weekly, before Feb 2016) Cannot repatriate more than 20% of previous year end's total assets each month • • Other products: 6 month investment period, 1 year lock-up, monthly repatriation • Buy-trades are subject to quota on a net buy Cannot buy-sell-then-buy the same stock on the same day Source: FTSE Russell, CSRC, SAFE 22

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