(股份代號:03993) H IXM H 1 44 239 AGM-1 AGM-8 H 24 H 183 17M H * ................................................................ ii ........................................................... 1 .................................. I-1 ............................... II-1 H ........................... III-1 ................................. IV-1 ........................... V-1 .......................................... VI-1 A ................................... VII-A-1 B IXM .................................. VII-B-1 ........................... VIII-1 A ............................... IX-A-1 B IXM ............................... IX-B-1 ...................................... X-1 XI-1 2019-2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . XII-1 ................................................ XIII-1 ..................................................... AGM-1 H ................................... NOTICE-1 –i– A 0.20 603993 A A A 239 A 239 – ii – 198 1,553 H A Deloitte Touche Tohmatsu IXM Deloitte NWE LLP Deloitte Touche Tohmatsu Limited – iii – 0.11 NCCL (i) Natural Resource Elite Investment Limited 45% (ii)Next Goal Limited 55% New China Capital Legend Limited – iv – LDC Louis Dreyfus Company Metals B.V. IXM H 0.20 H H H A 239 H –v– 297 2,330 IXM IXM B.V. Louis Dreyfus Company Metals B.V. IXM IXM LDC Louis Dreyfus Company B.V. IXM IXM100% – vi – IXM IXM 495 3,883 A H H 10% H NSR New Silk Road Commodities Limited 571 A H – vii – A 20% H 20% A H A H New Silk Road Commodities SA NSR IXM100% (i) IXM (ii) 100% – viii – IXM % 7.8445 1.00 H.10 – ix – (股份代號:03993) 183 54 H IXM H –1– 1. IXM H (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) H (i) 2. –2– 1. 17 20 1.65 1.9 2. 1.45 1.6 0.90 1.0 3. 80% NPM 3 3.2 2.5 2.8 4. 0.95 1.1 + 100 115 3. 0.11 A –3– H [2008897] H 10% H H [1994020] [1994020] H –4– [201481] H 20% H H H H 4. –5– (1) (2) 12 350 (3) (4) (5) 14 14A –6– 5. (1) 50 (2) (3) –7– 14 14A 14A 6. 150 (1) 150 (2) (3) (4) –8– 7. A H 20% A H (1) A H 20% A (a) (b) (c) (d) (e) –9– (2) A H A H 20% (3) A H (4) (5) (a) 12 (b) (c) (6) (7) – 10 – 21,599,240,583 3,933,468,000 H 17,665,772,583 A 4,319,848,116 786,693,600 H 3,533,154,516 A 20% 8. H H H A H H 10% – 11 – (a) (b) (c) (d) (e) (f) H H A H H H H 10 30 30 45 (a) A H (b) (c) – 12 – (c) H A H 13 A H H H 10% 9. [2012]37 3 [2013]43 2019-2021 10. (1) NSR – 13 – (2) (A) (1) (2) NSR 100% IXM 100% 495 3,883 (i) (ii) – 14 – 14.61 297 2,330 (1) (2) – 15 – (3) (1) (i) (ii) (iii) – 16 – (2) (3) (i) (ii) (4) (5) (6) (a) (b) (i) (ii) (iii) – 17 – (c) (i) (i i) (iii) (iv) (v) (d) (e) (f) (g) – 18 – (7) (5) (6) (8) (1) (8) (a) (b) – 19 – 100,000 1,000,000 100,000 500,000 (i) (ii) (iii) (iv) (1) (2) – 20 – (B) (i) (ii) 495 3,883 (i) 495 IXM 449,755,000 1.1 (ii) i. ii. iii. iv. – 21 – 1 1.3x GLEN GLN 2 1.5x ADM 3 1.8x BG 4 0.9x O32 5 Adani Enterprises Ltd. 1.0x ( ADANIENT 1.3x 1.3x – 22 – 1 Yellowbird Capital 6.04 0.9x Management 2 CWT Pte. 2.60 1.6x 3 4.06 1.2x 4 7.94 1.1x 1.2x 1.2x (i) 1.3x 1.3x 495 1.1x 15.38% 15.38% (ii) 1.2x 1.2x 495 1.1x 8.33% 8.33% – 23 – IXM IXM EV/EBITDA IXM IXM (a) IXM (b) IXM IXM IXM – 24 – 466 i. ii. IXM 378,397,000 449,755,000 IXM (1) 61,297,000 362,127,000 423,425,000 (2) 15,020,000 32,289,000 iii. 1.1 iv. v. vi. – 25 – (i) (ii) (iii) (C) (1) IXM LDC IXM IXM IXM (2) IXM – 26 – (3) (4) IXM (D) – 27 – IXM (i) (ii) IXM IXM 100% (E) IXM – 28 – i. 101,216.1 119,537.2 ii . 51,618.2 69,891.6 iii . 40,948.9 40,996.6 iv . 4,635.6 4,873.1 – 29 – v. 0.21 0.23 0.02 1.90 1.90 – (%) 19.84 4.81 -15.04 = = = – 30 – (F) 14.61 1. 2. 3. – 31 – 1. 2. 3. 4. 5. 6. 7. 8. 9. – 32 – 10. 11. 12. 13. 14. 15. 14.62 – 33 – (G) 1. IXM IXM IXM IXM IXM – 34 – IXM IXM IXM IXM IXM IXM 1. IXM IXM IXM – 35 – 2. IXM 13 IXM 3. IXM IT IXM 4. IXM IXM IXM IXM 5. IXM – 36 – 6. IXM IXM IXM (H) a IXM 78,000 612,000 24,000 188,000 24,000 188,000 b IXM IXM IXM IXM IXM 15 250 IXM – 37 – IXM IXM 3,667,880 28,772,685 3,105,540 24,361,409 3,260,869 25,579,887 2,651,815 20,802,163 407,011 3,192,798 453,725 3,559,246 12,278,353 96,137,540 13,004,441 102,013,337 92,267 723,788 34,490 270,557 101,546 796,578 45,582 357,568 IXM 4,4361,971 3,982,687 42.43 45.07 c NSR NSR d – 38 – e H A 03993 603993 (I) 100% 100% 100% Natural Resource Elite Investment Limited Next Goal Limited 45% 55% New China Capital Legend Limited 100% 100% 100% IXM (i) Next Goal Limited (ii) (iii)New China Capital Legend Limited – 39 – 100% 100% 100% IXM (J) IXM 14.07 100% 14 (K) 4.03 4.03 IXM – 40 – (L) [2014]17 [2013]110 [2015]31 11. A H (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) A H A H H 239 H AGM-1 NOTICE-4 H – 41 – 12. H (www.hkexnews.hk) (www.chinamoly.com) H H H H H H 24 H 183 17M H H H H – 42 – 13. H H H H H H H H H H H 183 17 1712 1716 14. 13.39 H H 13.39(5) H A – 43 – 15. (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) A H 16. – 44 – . 2017 2018 (%) 25,962,863 24,147,558 24,147,558 7.52 4,635,582 2,727,796 2,727,796 69.94 4,560,177 3,125,343 3,125,343 45.91 9,434,533 8,428,813 8,428,813 11.93 2017 2018 (%) 40,948,875 38,132,684 38,157,185 7.39 101,216,117 97,812,745 97,837,246 3.48 – I-1 – 2017 2018 (%) 0.215 0.14 0.14 53.57 0.211 0.16 0.16 31.88 (%) 11.72 9.89 9.89 1.83 11.54 11.25 11.25 0.29 (%) . 1. 2018 TFM 16.83 19.75 2.92 -15% 1.87 1.68 0.2 12% C1 -0.31 -0.42 0.11 25% 2. 2018 1.54 1.42 0.12 8% 6.45 6.32 0.13 2% – I-2 – 1.17 1.15 0.02 2% 2.19 2.26 0.07 -3% 3. 2018 + 112 107 4.4 4% 0.9 0.94 0.04 -5% 4. 2018 80% NPM 3.19 3.10 0.09 3% 2.53 2.72 0.19 -7% C1 1.08 1.13 0.05 -4% 2018 – I-3 – 2018 2018 . 2018 8 3 2018 8 3 2018 8 3 2018 8 3 2018 8 3 2018 8 3 – II-1 – 1. MBA Seaspan Seaspan IPO Seaspan NYSE:SSW CEO Tiger Gas 2. SH:601877 3. EMBA – II-2 – . – II-3 – 6/6 1/1 2/2 2/2 1/1 6/6 3/3 2/2 1/1 6/6 1/1 3/3 2/2 1/1 4/4 2/2 3/3 1/1 0/1 3/3 4/4 2/2 3/3 0/1 3/3 4/4 2/2 2/2 3/3 0/1 3/3 – II-4 – 2018 1 2018 8 4 2 2018 8 27 – II-5 – 3 2018 12 26 4 2018 12 26 H 1 2018 1 31 2 2018 3 29 2018 2017 2017 2018 – II-6 – 3 2018 6 14 1. 2. 2019 3. 4. 5. 6. – II-7 – . 2018 1. 2018 2. 3. 2019 – II-8 – 1. BHR Newwood 4,804,240.00 2017 4 5 2017 4 5 2024 4 5 Investment Management Limited 0.00 (A) 4,804,240.00 3,186,075.20 (B) 20,344,075.20 (A+B) 25,148,315.20 (%) 50.70 (C) 0.00 70% (D) 0.00 50% (E) 41,686.37 (C+D+E) 41,686.37 – II-9 – 2. 2018 1. 2018 8 4 2. 2018 8 4 2018 2018 – II-10 – 3. 2018 12 26 2018 1 31 7 31 2017 2018 2018 2018 5 25 2017 2017 21,599,240,583 0.076 1,641,542,284.31 – II-11 – 2018 2018 2018 – II-12 – 2018 . 2018 – II-13 – 2019 – II-14 – H 10.06(1)(b) 1. 2. 4,319,848,116.60 3,933,468,000 0.20 H 17,665,772,583 0.20 A A H 393,346,800 H H 10% – III-1 – H 3. H H H 4. A H A H (1) (2) 5. H H H H – III-2 – H H H 6. H H 6.22 5.20 6.01 4.81 5.18 3.50 4.16 3.19 4.07 3.16 3.40 2.73 3.32 2.62 3.65 2.86 3.35 2.85 3.22 2.71 3.98 3.11 3.91 3.10 3.72 3.02 – III-3 – H 7. H H 8. H 32 26 24.69% 24.68% 25.15% 25.13% 8.08 – III-4 – H 9. H H 10. H 5 5% H – III-5 – IXM B.V. NEW SILK ROAD COMMODITIES SA IXM B.V. New Silk Road Commodities SA New Silk Road Commodities SA 14.61 New Silk Road Commodities SA . 1 – IV-1 – 14.62(2) 3000 New Silk Road Commodities SA Deloitte Touche Tohmatsu – IV-2 – New Silk Road Commodities SA 100% 14.61 Deloitte Touche Tohmatsu 8 12 – V-1 – http://www.chinamoly.com http://www.hkexnews.hk 1. http://www3.hkexnews.hk/listedco/listconews/SEHK/2019/0424/LTN201904241400.pdf 2. http://www3.hkexnews.hk/listedco/listconews/SEHK/2018/0420/LTN201804201324.pdf 3. http://www3.hkexnews.hk/listedco/listconews/SEHK/2017/0427/LTN201704271126.pdf 7.6082 1.00 6.6901 1.00 2019 2 28 – VI-1 – 1. 15,638,623 10,200,049 25,838,672 2. 2,007,030 2,000,000 4,007,030 3. 2,886,139 – VI-2 – 4. 134 5. 539,270 690,010 1,229,280 6. 3,225,704 – VI-3 – 7. 1 1,800 172.4 2 Tenke Fungurume Mining S.A. TFM SNEL TFM 0.0569 0.0350 1,000 SNEL TFM 1,000 3 – VI-4 – 4 25% EBITDA EBITDA 5 – VI-5 – 1. 2,577,954 11,147,754 13,725,708 2. 877,520 3. 20 4. 1 10% 11.50 76.94 5.60 37.46 – VI-6 – 2 10% 15.00 100.35 8.41 56.26 70,310.84 101,923.84 31,613 44.96% 99,804.06 76,116.01 23,688.05 31.12% – VI-7 – 694,957.10 275,273.14 232,575.29 75,136.15 (%) (%) (%) (%) 2,815,657,614.65 1,511,570,037.60 46.32 16.29 1.91 7.57 1,381,203,392.40 1,013,663,409.49 26.61 -4.27 8.85 8.84 410,653,115.36 306,579,395.96 25.34 729,610,629.70 584,775,039.30 19.85 1,296,146,914.20 996,305,846.03 23.13 164,017,685.08 91,401,296.84 44.27 -8.98 0.30 5.16 – VI-8 – (%) (%) (%) (%) 2,979,675,299.73 1,602,971,334.44 46.20 14.54 1.82 6.72 1,381,203,392.40 1,013,663,409.49 26.61 -4.27 8.85 8.84 1,140,263,745.06 891,354,435.26 21.83 1,296,146,914.20 996,305,846.03 23.13 (%) (%) (%) 100%MO 16,302 20,495 3,082 -4.10 13.43 -35.11 100% WO3 10,118 11,478 1,130 2.98 41.14 -61.82 NPM 80% 36,749 35,962 1,891 -8.04 -10.87 43.29 Tenke 100% 23,049 27,356 17,959 100% 1,574 1,825 2,216 1,859 1,998 1,716 (HA+LA) 303,812 303,395 8,030 – VI-9 – (%) (%) (%) 403,316,759.18 29.70 363,927,503.48 26.41 10.82 237,424,769.46 17.48 284,267,071.00 20.63 -16.48 152,910,337.76 11.26 149,600,529.75 10.86 2.21 222,309,861.23 16.37 234,165,473.61 16.99 -5.06 341,954,800.67 25.18 345,888,825.59 25.10 -1.14 192,728,597.14 19.05 182,014,850.14 18.72 5.89 193,110,803.82 19.09 189,096,920.33 19.45 2.12 489,816,482.74 48.42 467,983,452.88 48.12 4.67 84,446,093.80 8.35 83,890,820.35 8.63 0.66 51,561,431.99 5.10 49,465,112.05 5.09 4.24 57,181,564.25 19.80 43,116,390.13 14.93 73,105,393.55 25.31 14,221,870.38 4.92 101,191,691.13 35.04 277,550,931.41 50.94 97,370,347.49 17.87 33,798,104.90 6.20 35,162,089.31 6.45 101,005,042.65 18.54 257,195,990.00 24.97 196,758,290.00 19.10 253,099,657.00 24.57 46,738,488.00 4.54 276,267,442.00 26.82 – VI-10 – 714.7 357.2 357.5 100.1% 236.14 407.7 46.2 361.5 782.5% 174.2 116.6 57.6 49.4% 46.4 -2.8 49.2 467.0 50.2 416.8 831.19% – VI-11 – 28.0 94.6 66.6 70.4% 170.9 -20.3 191.2 942.3% 761.2 236.8 31.1% 998.0 21.2 -58.1 79.3 136.5% 88,146.8 68,343.9 19,803.0 17,353.5 1,384.6 8.0% 18,738.1 – VI-12 – 15,731.8 4,071.2 25.9% 19,803.0 15,148.8 53,195.1 351.2% 68,343.9 40,000.00 39,000.00 45,000.00 51,034.20 63,000.00 53,197.50 2,001.602971 5,000.00 – VI-13 – 200,000,000.00 6/6/2015 5/6/2018 – 20,077,777.77 – 350,000,000.00 18/5/2015 18/5/2018 – 33,101,444.46 – 250,000,000.00 29/7/2015 29/7/2018 – 18,594,722.23 Y – 100,000,000.00 23/12/2016 23/2/2017 – NEW CHINA ASSET 1,763,468,867.81 8/5/2015 7/5/2017 – MANAGEMENT 2,663,468,867.81 71,773,944.46 – VI-14 – A 1 40,000.00 5.30% C 2 5,000.00 12.20% E 2 46,020.49 F 2 4,883.97 25.39% G 1 888.47 3.45% H 1 418.63 2.21% 0.49 97,212.05 1 2 8,768.9 7,212.8 82.3% 15,981.7 4,294.9 33,533.3 780.8% 37,828.2 – VI-15 – (I) (II) (1) 806,773,100.00 2,906,199,075.88 3,565,660,377.73 2,906,199,075.88 4,372,433,477.73 2,906,199,075.88 – VI-16 – (III) (1) 17,972,067,402.29 3,113,637,810.28 5,971,892,626.00 1,295,473,200.00 567,060,088.80 2,467,524,610.28 23,376,879,939.49 1,941,586,400.00 CMOC LUXEMBOURG S.AR.L. CMOCBRASIL SERVICOS ADMINISTRATIVOS E PARTICIPACOES LTDA. 9 62 Libor+1.8% Libor+2.75% 100% CMOC DRC LIMITED 15.9 110 Libor+1.7% Libor+2.2% 100% – VI-17 – (2) 3,989,536,037.20 311,692,800.00 19,026,240,853.05 1,629,893,600.00 361,103,049.24 – 23,376,879,939.49 1,941.586,400.00 0.9% 4.5125% 1.57% 3.06% (IV) (1) 2,000,000,000.00 2,000,000,000.00 2,000,000,000.00 2,000,000,000.00 – VI-18 – (2) 12 MTN1 1 2,000,000,000.00 5 2,000,000,000.00 2,000,000,000.00 – 98,800,000.00 98,529,315.09 40,873,424.67 – – 2,000,000,000.00 – 16 MTN001 2 2,000,000,000.00 5 2,000,000,000.00 – 2,000,000,000.00 66,132,602.74 – 66,132,602.74 – – – 2,000,000,000.00 4,000,000,000.00 4,000,000,000.00 2,000,000,000.00 2,000,000,000.00 164,932,602.74 98,529,315.09 107,006,027.41 – – 2,000,000,000.00 2,000,000,000.00 1 2,000,000,000.00 12 MTN1 4.94% 2 2,000,000,000.00 16 MTN001 4.22% – VI-19 – 1,800 172.4 TFM SNEL TFM 0.0569 0.0350 1,000 SNEL TFM 1,000 6,937 – VI-20 – 19,701 AAFB AANB 42.3% 61.0% 8,982.2 562.0 6.3% 8,420.2 (%) 7,644,877,598.25 4,627,214,360.67 65.22 424,655,803.23 488,703,678.64 -13.11 396,778,870.84 320,302,856.46 23.88 3,335,928,536.55 12,223,309,959.59 -72.71 29,299,477.76 12,518,392.27 134.05 0.00 4,282.41 -100.00 – VI-21 – (%) 0.00 163,708,746.00 -100.00 28,104,661,705.58 86,272.98 32,576,335.53 1,416,192,938.05 12,122,847,408.83 -88.32 29,429,208,701.12 7,289,549,745.87 303.72 3,027,283,088.84 1,482,568,890.00 104.19 5,186,639,691.64 4,285,424,431.32 21.03 1,108,374,156.14 1,333,347,656.71 -16.87 2,170,787,930.78 1,079,148,360.53 101.16 (1) (2) (3) – VI-22 – (4) (5) (6) (7) (8) (9) (10) (11) – VI-23 – 1. 100%MO 1.6 5.53 6.11 2. 100%WO3 1.1 1.38 1.52 3. 80% NPM 3.4 C1 0.91 1.01 2.5 100% Tenke 21.9 C1 0.98 1.09 1.8 4. 118.2 0.8 – VI-24 – 1. NPM 2. A 3. 4. 5. 6. 7. – VI-25 – 1. 15 16.76 SPV SPV 152.26 17.27% 0.45 PPA 4.5% 2. 26.5 26.65 CMOC DRC Limited CMOC DRC Limited 445.27 50.51% 4.41 PPA 44.2% – VI-26 – 3. A A 180 3.15 5,714,285,714 A 4. BHR Tenke Tenke Fungurume BHR Newwood Investment Management Limited BHR Tenke Holdings Ltd THL Lundin Ludin SPA BHR THL THL Lundin DRC Holdings Ltd Lundin 100% BHR Tenke Fungurume Mining S.A TFM 24% BHR BHR BHR TFM 24% BHR BHR BHR BHR – VI-27 – 11,566 790 6.8% 1,153 10.0% 7,688 66.5% 1,935 16.7% 20% 6% 1.5% 5% 12% – VI-28 – – VI-29 – 1,019.24 3,595.62 2,576.38 252.77% 2,727.80 998.04 1,729.76 173.32% 23,968.55 17,171.26 8,905.47 6,612.47 – VI-30 – (%) (%) (%) (%) 23,968.55 15,063.08 37.15 252.62 234.42 3.42 – VI-31 – (%) (%) (%) (%) 3,772.29 1,819.36 51.77 33.98 20.36 5.45 1,663.82 1,145.76 31.14 20.46 13.03 4.53 1,670.08 1,251.48 25.06 306.69 308.21 0.28 2,834.19 2,462.08 13.13 288.45 321.03 6.72 13,844.64 8,302.17 40.03 968.14 733.29 16.90 183.53 82.23 55.19 11.90 -10.03 10.92 – VI-32 – (%) (%) (%) (%) 3,955.82 1,901.59 51.93 32.76 18.63 5.73 1,663.82 1,145.76 31.14 20.46 13.03 4.53 4,504.27 3,713.57 17.55 295.02 316.62 4.28 13,844.64 8,302.17 40.03 968.14 733.29 16.90 – VI-33 – (%) (%) (%) 16,717 19,252 2,620 2.55 -6.07 -14.99 11,744 12,062 602 16.07 5.09 -46.68 NPM 80% 34,913 35,168 2,407 -5.00 -2.21 -10.59 TFM 213,843 214,866 16,931 827.78 685.44 -5.72 16,419 15,326 3,307 943.14 739.78 49.23 8,674 8,548 1,842 366.59 327.83 7.33 (HA+LA) 1,152,554 1,137,978 54,462 279.36 275.08 578.23 – VI-34 – (%) (%) (%) 6,958.96 46.48 1,187.97 28.06 485.78 1,559.26 10.42 767.78 18.14 103.09 4,243.10 28.34 1,002.73 23.69 323.16 767.56 5.13 402.88 9.52 90.52 1,441.70 9.63 871.98 20.60 65.34 (%) (%) (%) 614.38 36.17 403.32 29.70 52.33 300.90 17.72 237.42 17.48 26.73 159.34 9.38 152.91 11.26 4.21 240.32 14.15 222.31 16.37 8.10 383.60 22.58 341.95 25.18 12.18 – VI-35 – (%) (%) (%) 210.53 18.14 192.73 19.05 9.24 177.82 15.32 193.11 19.09 -7.92 516.40 44.50 489.82 48.42 5.43 84.96 7.32 84.45 8.35 0.60 170.81 14.72 51.56 5.10 231.27 623.44 47.92 57.18 19.80 990.28 167.76 12.89 43.12 14.93 289.08 294.64 22.65 73.11 25.31 303.04 59.51 4.57 14.22 4.92 318.43 155.65 11.96 101.19 35.04 53.81 1,596.90 61.78 277.55 50.94 475.35 305.58 11.82 97.37 17.87 213.83 342.14 13.24 33.80 6.20 912.31 148.26 5.74 35.16 6.45 321.64 191.87 7.42 101.01 18.54 89.96 3,913.72 47.58 257.20 24.97 1,421.69 607.21 7.38 196.76 19.10 208.61 2,930.59 35.63 253.10 24.57 1,057.88 234.52 2.85 46.74 4.54 401.78 539.77 6.56 276.27 26.82 95.38 – VI-36 – 214.84 90.62 124.22 137.08% 1,159.09 714.73 444.36 62.17% 1,416.97 407.67 1,009.30 247.58% 1,786.20 170.90 1,615.30 945.17% 998.04 1,729.76 173.32% 2,727.80 – VI-37 – 97,837.25 58,788.45 39,048.80 18,738.06 19,419.12 103.63% 38,157.18 A 19,802.96 19,245.84 97.19% 39,048.80 68,121.40 9,332.95 13.70% 58,788.45 4,700.00 400.00 300.00 450.00 1,701.42 630.00 24.42 20.02 1.50 50.00 – VI-38 – 200.00 2014/6/5 2018/6/5 6.50% 33.26 0 350.00 2015/5/18 2018/5/18 5.84% 53.82 0 250.00 2015/7/29 2018/7/29 5.24% 31.88 0 NEW CHINA CAPTIAL 1,763.47 2017/9/8 2019/9/7 – – 0 MANAGEMENT 300.00 2015/4/10 2018/4/10 3.60% – 0 1,500.00 2017/7/27 2018/1/29 3.90% – 0 – VI-39 – 2,000.00 2017/7/28 2018/1/29 3.81% – 0 2,500.00 2017/7/28 2018/1/29 3.81% – 0 300.00 2017/8/4 2018/2/5 4.00% – 0 500.00 2017/10/27 2018/1/26 4.30% – 0 800.00 2017/10/27 2018/1/26 4.55% – 0 2,000.00 2017/10/30 2018/5/2 – 0 – VI-40 – 100.00 2017/10/30 2018/2/1 – 0 300.00 2017/11/1 2018/2/1 – 0 100.00 2017/11/2 2018/2/1 – 0 700.00 2017/11/1 2018/1/30 – 0 100.00 2017/12/18 2018/12/18 – 0 400.00 2017/12/13 2018/12/13 – 0 200.00 2017/12/20 2018/12/20 – 0 – VI-41 – 100.00 2017/12/22 2018/12/21 – 0 1,500.00 2017/12/21 2018/6/21 – 0 100.00 2017/12/22 2018/3/22 – 0 150.00 2017/12/20 2018/3/20 – 0 100.00 2017/12/29 2018/9/25 – 0 16,713.47 157.65 0 – VI-42 – 15,981.67 2,478.56 15.51% 13,503.11 37,605.76 819.24 2.18% 38,425.00 BHR ( ) ( ) (1) – 806,773,100.00 1,478,132,364.60 3,565,660,377.73 1,478,132,364.60 4,372,433,477.73 – VI-43 – (III) (1) 16,935,905,304.91 17,972,067,402.29 9,878,342,377.70 5,971,892,626.00 4,780,399,163.34 567,080,088.80 22,033,888,519.27 23,376,879,939.49 CMOC LUXEMBOURG S.AR.L. CMOCBRASIL SERVICOS ADMINISTRATIVOS E PARTICIPACOES LTDA. 9 62 Libor+1.8% Libor+2.75% 100% CMOC DRC LIMITED 15.9 110 Libor+1.7% Libor+2.2% 100% BHR 6.9 TFHL 30% LIBOR+2.50% LIBOR+2.64% – VI-44 – (2) 4,681,724,845.18 3,989,536,037.20 7,647,569,834.09 10,448,558,302.29 9,704,593,840.00 8,938,785,600.00 22,033,888,519.27 23,376,879,939.49 0.5153% 4.5125% 0.9% 4.5125% (IV) (1) 2,000,000,000.00 4,000,000,000.00 – 2,000,000,000.00 2,000,000,000.00 2,000,000,000.00 – VI-45 – (2) 12 MTN1 1 2,000,000,000.00 5 2,000,000,000.00 2,000,000,000.00 2,000,000,000.00 – 57,625,575,.36 56,500,000.00 – – – – 16 MTN001 2 2,000,000,000.00 5 2,000,000,000.00 2,000,000,000.00 – – 64,566,666.54 64,400,000.00 66,132,602.14 – – 2,000,000,000.00 4,000,000,000.00 4,000,000,000.00 4,000,000,000.00 2,000,000,000.00 – 142,468,242.00 183,200,000.00 66,132,602.14 – 2,000,000,000.00 2,000,000,000.00 1 2,000,000,000.00 12 MTN1 4.94% 2 2,000,000,000.00 16 MTN001 4.22% – VI-46 – (1) 1,800 172.4 TFM Société Nationale d’ Electricité SNEL TFM 0.0569 0.0350 1,000 SNEL TFM 1,000 – VI-47 – (2) Northparkes 3,292 16,776 60.95% 53.08% 8,420.21 11,361.21 134.93% 19,781.42 – VI-48 – 8,428.81 4,109.23 7,372.04 (%) 24,594.25 7,644.88 221.71 654.82 424.66 54.20 11,736.23 3,270.94 258.80 1,770.19 807.88 119.12 2,040.13 679.11 200.41 1,273.70 396.78 221.01 2,002.81 3,335.93 -39.96 93.33 270.86 -65.54 – 28,104.66 -100.00 4,834.29 1,416.19 241.36 10,560.51 29,429.21 -64.12 1,485.20 3,027.28 -50.94 11,038.95 5,186.64 112.83 2,147.31 1,108.37 93.73 9,346.04 2,170.79 330.54 (1) – VI-49 – (2) (3) (4) (5) (6) (7) (8) (9) – VI-50 – 1. 1.35 1.49 6 6.63 2. 1.1 1.2 2.15 2.37 3. 80% NPM 3 3.2 C1 1.07 1.19 2.64 2.8 TFM 19 20.5 C1 -0.44 -0.4 1.6 1.75 4. – VI-51 – 1. BHR TFM24% BHR Tenke Holdings Ltd. THL Lundin Mining Corporation Lundin BHR THL THL Lundin DRC Holdings Ltd Lundin 100% BHR TFM 24% BHR BHR Newwood Investment Management Limited Tenke Fungurume BHR BHR BHR TFM 24% BHR TFM 24% BHR THL THL 100% BHR Lundin 100% TFM 24% – VI-52 – 2. A A [2017]918 5,769,230,769 A 8 A 4,712,041,884 3.82 17,999,999,996.88 (17) 00317 A 141,367,333.58 17,858,632,663.30 – VI-53 – A 16,887,198,699 21,599,240,583 A [2017]918 A 4,712,041,884 3.82 1,800,000 14,137 1,785,863 1,786,523 660 – VI-54 – 3. New China Capital Legend Limited New China Capital Legend Limited NCCL NCCL 10 45% 4.5 100% Natural Resource Elite Investment Limited NREIL NCCL Next Goal Limited NGL Second Amended and Restated Exempted Limited Partenership Agreement NREIL NGL NCCL NCCL 50,010 NREIL 22,500 NGL 27,500 NCCL 10 Louis Dreyfus Company B.V. LDC The Sale And Purchase Agreement Louis Dreyfus Company Metals B.V. 100% – VI-55 – 11,226 1,616 14.40% 1,565 13.94% 7,006 62.41% 1,039 9.26% 11,226 100% 19% 7% 0.7% 0.5% 0.4% 1.9% 5% 12% – VI-56 – – VI-57 – 359,562 515,004 155,442 43.23% 463,558 272,780 190,778 69.94% A 258 18 98 9 – VI-58 – (%) (%) (%) (%) 25,785,918 16,010,716 37.91 7.58 6.29 0.76 (%) (%) (%) (%) 4,749,130 1,888,847 60.23 25.9 3.82 8.46 1,458,264 1,030,876 29.31 -12.35 -10.03 1.83 4,976,722 3,832,223 23.00 10.49 3.20 5.45 14,373,798 9,172,220 36.19 3.82 10.48 3.84 228,004 86,550 62.04 24.23 5.25 6.85 – VI-59 – (%) (%) (%) (%) 4,977,134 1,975,397 60.31 25.82 3.88 8.38 1,458,264 1,030,876 29.31 -12.35 -10.03 1.83 4,976,722 3,832,223 23.00 10.49 3.20 5.45 14,373,798 9,172,220 36.19 3.82 10.48 3.84 – VI-60 – (%) (%) (%) 1 15,380 18,231 1,862 -8.00 -5.30 -28.93 2 11,697 11,159 1,362 -0.40 -7.48 126.25 NPM 80% 31,931 31,659 886 -8.54 -9.98 17.98 TFM 168,309 171,961 13,280 -21.29 -19.97 -21.57 18,747 19,390 2,649 14.18 26.52 -19.91 8,957 9,050 1,749 3.26 5.87 -5.05 (HA+LA) 3 1,116,342 1,022,874 151,873 -3.14 -10.11 178.86 1 2 3 – VI-61 – (%) (%) (%) 7,410,043 46.81 5,827,441 38.93 27.16 1,600,048 10.11 17,707,147 11.40 -6.27 3,696,336 23.35 4,239,607 28.32 -12.81 765,587 4.84 766,421 5.12 -0.11 2,356,862 14.89 2,429,984 16.23 -3.01 – VI-62 – (%) (%) (%) 596,810 35.07 614,380 36.17 -2.86 296,106 17.40 300,897 17.72 -1.59 157,581 9.26 159,343 9.38 -1.11 227,576 13.37 240,318 14.15 -5.30 423,537 24.89 383,602 22.58 10.41 166,253 16.88 210,530 18.14 -21.03 141,875 14.41 177,817 15.32 -20.21 408,549 41.49 516,398 44.50 -20.88 131,604 13.37 84,956 7.32 54.91 136,381 13.85 170,808 14.72 -20.16 1,190,151 31.25 1,088,813 28.02 9.31 596,838 15.67 621,221 15.99 -3.92 587,819 15.43 633,280 16.30 -7.18 205,660 5.40 206,625 5.32 -0.47 1,228,580 32.25 1,335,802 34.88 -8.03 5,456,829 58.46 3,913,718 47.58 39.43 565,229 6.06 607,213 7.38 -6.91 2,542,387 27.24 2,930,587 35.63 -13.25 200,747 2.15 234,523 2.85 -14.40 568,363 6.09 539,771 6.56 5.30 – VI-63 – 96,822 214,841 118,019 -54.93% 933,346 1,057,300 123,954 -11.72% 634,046 1,416,974 773,928 -54.62% 101,216,117 62,051,733 39,164,384 38,132,684 2,816,191 7.39% 40,948,875 39,033,763 130,621 0.33% 39,164,384 – VI-64 – 58,778,983 3,272,750 5.57% 62,051,733 882,340 300,000 1,903,364 1,701,421 39,534 24,421 500 1,500 13,503,107 2,475,628 18.33% 15,978,735 38,425,003 2,785,558 7.25% 35,639,445 – VI-65 – (%) (%) (%) 226,187 0.22 656,703 0.67 -65.56 2,522,865 2.49 1,136,373 1.16 122.01 3,906,622 3.86 2,746,900 2.81 42.22 1,893,822 1.87 950,111 0.97 99.33 525,598 0.52 311,683 0.32 68.63 4,588,153 4.53 1,478,132 1.51 210.40 2,929,839 2.89 4,797,816 4.91 -38.93 – VI-66 – 1,800 172.4 TFM SNEL TFM 0.0569 0.0350 1,000 SNEL TFM 1,000 – VI-67 – Northparkes 3,292 15,922 53.09% 51.00% 19,781,419 3,459,286 17.49% 23,240,705 9,434,533 2,397,187 3,846,449 – VI-68 – (%) 1,136,281 654,815 73.53 3,876,806 2,040,127 90.03 6,076,816 2,002,813 203.41 207,157 93,331 121.96 2,807,367 1,066,476 163.24 1,065,210 331,597 221.24 – 17,858,633 -100.00 A 3,013,969 1,485,196 102.93 2,786,560 9,346,043 -70.18 – VI-69 – ( ) (1) 4,588,452,515.23 1,478,132,364.60 4,588,452,515.23 1,478,132,364.60 – VI-70 – (1) 1 16,268,306,635.19 16,935,905,304 .91 2 6,850,970,277.55 9,878,382,377.70 2,922,422,080.00 4,780,399,163.34 20,196,854,832.74 22,033,888,519.27 1 CMOC LUXEMBOURG S.R.L CMOC BRASIL SERVICOS ADMINISTRATIVOS E PARTICIPACOES LTDA 9 62 LIBOR+1.8% LIBOR+2.75% 100% CMOC DRC LIMITED 15.9 110 LIBOR+1.7% LIBOR+2.2% 100% 2 BHR Newwood Investment Management Limited 6.9 TF Holdings Limited 30% LIBOR+2.50% LIBOR+2.64% – VI-71 – (2) 3,512,041,857.17 4,681,724,S45.18 14,506,433,295.57 7,647,569,834.09 2,178,379,680.00 9,704,593,840.00 20,196,854,832.74 22,033,888,519.27 0.5447% 4.5225% 0.5153% 4.5125% (1) 2,000,000,000.00 2,000,000,000.00 2,000,000,000.00 2,000,000,000.00 – VI-72 – (2) 16 MTN001 1 2,000,000,000.00 5 2,000,000,000.00 2,000,000,000.00 – – 84,400,000.00 84,400,000.00 – – – 2,000,000,000.00 2,000,000,000.00 2,000,000,000.00 2,000,000,000.00 – – 84,400,000.00 84,400,000.00 – – – 2,000,000,000.00 1 2,000,000,000.00 4.22% – VI-73 – 21,599,240,583 A 17,665,772,583 H 3,933,468,000 10,900 1,571 14.40% 1,540 14.10% 6,777 62.20% 1,012 9.30% 10,900 100% – VI-74 – 19% 7% 0.7% 0.5% 0.2% 0.95% 5% 12% 17 20 1.65 1.9 1.45 1.6 0.90 1.0 80% NPM 3 3.2 2.5 2.8 0.95 1.1 + 100 115 – VI-75 – (I) IXM 100% NCCL Natural Resources Investment Fund LP New Silk Road Commodities Limited NSR 495 NSR New Silk Road Commodities SA 100% IXM Louis Dreyfus Company Metals B.V. 100% – VI-76 – (II) TFM24% BHR Tenke Fungurume Tenke Fungurume BHR 1,135,993,578.71 BHR BHR Newwood DRC Holdings Ltd.100% BHR Newwood DRC Holdings Ltd. CMOC International DRC Holdings Ltd. TF Holdings Limited 100% TFM 80% Tenke Fungurume Mining S.A. Tenke Fungurume (III) CMOC Capital Limted 3 5.48% – VI-77 – (IV) 16% 13% 10% 9% 16% – VI-78 – A VII-A-1 VII-A-22 Deloitte Touche Tohmatsu NEW SILK ROAD COMMODITIES SA New Silk Road Commodities SA VII-A-4 VII-A-22 VII-A-4 VII-A-22 IXM B.V. 2 – VII-A-1 – A 200 2 – VII-A-2 – A 2 VII–A-4 6 Deloitte Touche Tohmatsu – VII-A-3 – A – VII-A-4 – A – 1 23 5 24 – VII-A-5 – A 8 101 15 9 8 23 78 10 102 (24) 78 – VII-A-6 – A 102 – 102 – (24) (24) 102 (24) 78 – VII-A-7 – A (24) 1 (23) 15 8 – – 102 102 – (1) 101 – VII-A-8 – A 1. New Silk Road Commodities SA New Silk Road Commodities Limited Le Grand-Saconnex, Geneva, Switzerland 2. 4 – VII-A-9 – A 3. 1 16 3 17 1 23 4 3 2 10 28 5 1 8 1 19 1 28 1 1 2 3 4 5 – VII-A-10 – A 4. 17 2 36 – VII-A-11 – A – VII-A-12 – A – VII-A-13 – A – VII-A-14 – A – VII-A-15 – A 5. – – 6. 7. – VII-A-16 – A 8. 101 9. 10. 1 – – 100,000 102 100,000 102 – VII-A-17 – A 11. 12. (a) 101 23 – VII-A-18 – A (b) 101 23 – VII-A-19 – A 10% 10% 10% 10% 10% 7 – VII-A-20 – A % – 15 15 15 – 8 8 8 23 23 23 (c) – VII-A-21 – A 13. New Silk Road Commodities Limited NSR IXM B.V. NSR IXM B.V. 100% IXM B.V. IXM B.V. 14. – VII-A-22 – B IXM VII-B-1 VII-B-106 Deloitte Touche Tohmatsu IXM B.V. Louis Preyfus Comany Metals B.V. VII-B-4 VII-B-106 IXM B.V. IXM IXM IXM IXM VII-B-4 VII-B-106 IXM. B.V IXM IXM B.V IXM 2 IXM IXM IXM – VII-B-1 – B IXM IXM 200 IXM IXM IXM 2 IXM IXM B.V. IXM IXM 2 IXM IXM B.V. IXM IXM VII-B-4 IXM – VII-B-2 – B IXM 25 IXM IXM B.V. Deloitte Touche Tohmatsu – VII-B-3 – B IXM IXM IXM IXM IXM IXM Deloitte SA IXM IXM – VII-B-4 – B IXM 8 9,244,584 12,278,353 13,004,441 (9,109,217) (12,097,105) (12,822,578) 135,367 181,248 181,863 15 (5,210) 6,992 (2,369) (51,238) (62,209) (74,561) 10 (43,259) (61,031) (88,310) 10 21,240 27,975 28,576 10 64 1,239 196 10 415 141 306 10 (21,540) (31,676) (59,232) 149 195 434 13 (295) 6,996 (553) 57,233 101,546 45,582 14 (17,419) (9,279) (11,092) 15 39,814 92,267 34,490 IXM B.V. 40,298 92,627 34,490 (484) (360) – 39,814 92,267 34,490 – VII-B-5 – B IXM 39,814 92,267 34,490 25.3 118 – (303) 118 – (303) 4,388 (4,388) – (118) 124 203 (4,057) 4,792 (4,928) 213 528 (4,725) 331 528 (5,028) 40,145 92,795 29,462 IXM B.V. 40,756 92,992 29,462 (611) (197) – 40,145 92,795 29,462 – VII-B-6 – B IXM 17 10,810 27,956 26,535 18 11,367 10,688 10,920 209 199 572 19 1,161 271 13,824 14 2,803 3,223 1,878 26,350 42,337 53,729 20 1,382,704 2,014,335 1,579,890 22 1,106,781 1,016,019 1,052,348 21.7 172,040 201,046 249,649 21.6 168,740 353,528 141,221 4,848 6,734 7,636 33 15,765 1,129 – 23 13,588 167 61 24 9,714 32,585 21,006 2,874,180 3,625,543 3,051,811 2,900,530 3,667,880 3,105,540 – VII-B-7 – B IXM 5,021 5,021 5,021 9,999 9,999 27,268 299,810 392,462 426,935 (957) (467) (5,495) IXM B.V. 313,873 407,015 453,729 3,353 (4) (4) 25 317,226 407,011 453,725 26 91,609 133,114 132,199 28 330 528 871 14 28,998 34,028 29,105 29 – 4,628 13,856 120,937 172,298 176,031 27 1,652,826 2,287,539 1,947,190 33 81,417 4,750 – 30 532,990 389,438 368,635 21.7 190,128 396,806 156,548 5,006 10,038 3,411 2,462,367 3,088,571 2,475,784 2,900,530 3,667,880 3,105,540 – VII-B-8 – B IXM IXM B.V. 25.1 25.2 5,021 9,999 258,694 (1,415) 272,299 4,205 276,504 – – 40,298 – 40,298 (484) 39,814 – – – 458 458 (127) 331 – – 40,298 458 40,756 (611) 40,145 – – – – – (241) (241) a – – 818 – 818 – 818 5,021 9,999 299,810 (957) 313,873 3,353 317,226 – – 92,627 – 92,627 (360) 92,267 – – – 365 365 163 528 – – 92,627 365 92,992 (197) 92,795 13 – – 25 125 150 (3,160) (3,010) 5,021 9,999 392,462 (467) 407,015 (4) 407,011 – – 34,490 – 34,490 – 34,490 – – – (5,028) (5,028) – (5,028) – – 34,490 (5,028) 29,462 – 29,462 a – – (17) – (17) – (17) b – 17,269 – – 17,269 – 17,269 5,021 27,268 426,935 (5,495) 453,729 (4) 453,725 (a) IXM IXM B.V. Louis Dreyfus Company Holdings B.V. LDCH IXM LDCH LDCH (b) IXM B.V. Louis Dregfus Company B.V. LDC 1,700 – VII-B-9 – B IXM 39,814 92,267 34,490 3,195 7,515 2,869 17,419 9,279 11,092 22,191 33,299 59,734 5,210 (6,992) 2,369 164 9 (434) 295 (5,920) 553 2,703 3,288 – 90,991 132,745 110,673 (314,380) (443,685) 137,688 (105,831) (179,476) 207,769 (290,208) 97,384 (49,601) 135,681 (154,872) (2,356) (483,747) (547,904) 404,173 (47,784) (60,531) (87,331) 25,034 29,554 27,706 (7,293) 139 (21,610) (513,790) (578,742) 322,938 – VII-B-10 – B IXM (3,243) (13,931) (808) (573) (375) (1,225) 84 17 18 (2,408) 2,367 – 1,978 12,031 – 600 381 (15,044) (3,562) 490 (17,059) 311,248 557,994 (332,926) 2,506 43,200 – (241) – – – – 17,269 (416) (463) (1,320) 313,097 600,731 (316,977) (204,255) 22,479 (11,098) 214,498 9,714 32,585 (529) 392 (481) 9,714 32,585 21,006 – VII-B-11 – B IXM IXM 1. IXM B.V Louis Dreyfus Company Metals B.V. IXM B.V Westblaak 92, 3012 KM Rotterdam Netherlands IXM B.V. LDC Louis Dreyfus Holding B.V. LDH Robert Louis Dreyfus NCCL Natural Resources Investment Fund LP NCCL NRIF LDC Louis Dreyfus Company Metals BV IXM B.V. New Silk Road Commodities Limited NSR NCCL NRIF IXM B.V. IXM IXM IXM IXM B.V. 2. IXM IXM 6 IXM B.V. – VII-B-12 – B IXM 3. IXM B.V. IXM IXM Pte. Ltd. (Singapore) 17,000,001 100% 100% 100% 100% IXM Chile Limitada 200,000,000 100% 100% 100% 100% Louis Dreyfus Commodities 3,674,000 100% 100% 100% 100% Metals MEA DMCC IXM S.A. (Switzerland) 6,565,000 100% 100% 100% 100% IXM (Shanghai) Corporate 15,000,000 100% 100% 100% 100% Management Company Limited Compromin S.A. de C.V. 97,546,775 100% 100% 100% 100% IXM Peru S.A. 23,949,300 100% 100% 100% 100% IXM Trading Peru S.A.C. 1,008,100 100% 100% 100% 100% IXM Africa (Pty) Ltd 4,00 0% 0% 100% 100% 0 Louis Dreyfus Company Metals – 100% 100% 0% 0% Investments Ltd a IXM Trading LLC – 100% 100% 100% 100% GKE Metal Logistics Pte. Ltd. b 13,500,000 51% 0% 0% 0% GKE (Shanghai) Metal Logistics 33% 0% 0% 0% Co., Ltd. b 6,000,000 Shanghai GKE Logistics Co., Ltd. 33% 0% 0% 0% b 300,000 (a) Louis Dreyfus Company Metals Investments Ltd (b) GKE Metal Logistics Pte Ltd GKE Metal Logistics Co.Ltd Shanghai GKE Metal Logistics Co. Ltd 2 GKE 13 – VII-B-13 – B IXM IXM IXM IXM 4. IXM IXM 15 IXM 9 39 9 6 9 39 9 IXM 9 IXM 9 9 39 – VII-B-14 – B IXM 9 39 XIM 39 9 9 39 9 9 271 – – 271 1,129 – – 1,129 448,066 – – 448,066 439,106 – – 439,106 353,528 – – 353,528 201,046 – – 201,046 167 – – 167 32,585 – 32,585 (133,114) – – (133,114) (4,628) – – (4,628) (2,287,539) – – (2,287,539) (4,750) – – (4,750) (213,432) – – (213,432) (146,693) – – (146,693) (396,806) – – (396,806) – – – VII-B-15 – B IXM 5. 1 16 3 17 1 23 4 3 1 9 10 2 28 5 1 8 1 19 1 28 1 1 2 3 4 5 IXM B.V. 16 16 17 16 16 15 16 – VII-B-16 – B IXM IXM 16 IXM 16 17 16 IXM 1.0 0.2 1.3 36 16 IXM IXM 17 16 IXM 17 4 16 17 4 IXM IXM 16 – VII-B-17 – B IXM 6. IXM IXM IXM 17 2 36 – VII-B-18 – B IXM 6.1. 10 IXM IXM IXM B.V. IXM IXM IXM IXM IXM IXM IXM IXM B.V. IXM B.V. IXM – VII-B-19 – B IXM IXM IXM IXM IXM – VII-B-20 – B IXM 6.2. IXM IXM 6.3. 6.4. – VII-B-21 – B IXM 6.5. IXM IXM 12 19 2 5 – VII-B-22 – B IXM IXM IXM 6.6. IXM – VII-B-23 – B IXM 6.7. IXM IXM IXM IXM IXM IXM – VII-B-24 – B IXM IXM IXM IXM 36 36 IXM IXM 9 39 IXM IXM IXM IXM – VII-B-25 – B IXM IXM IXM IXM IXM IXM IXM 6.8. 6.9. IXM 6.10. – VII-B-26 – B IXM 15 IXM 9 – VII-B-27 – B IXM (i) (i) (ii) IXM 39 21.5 – VII-B-28 – B IXM (ii) (a) (b) (c) IXM IXM IXM IXM (iii) – VII-B-29 – B IXM 4 9 – VII-B-30 – B IXM 3 IXM IXM IXM (i) – VII-B-31 – B IXM (ii) IXM (iii) 9 – VII-B-32 – B IXM IXM 90 – VII-B-33 – B IXM 4 9 IXM 9 12 12 12 IXM IXM IXM 12 IXM – VII-B-34 – B IXM (i) IXM IXM 30 IXM – VII-B-35 – B IXM IXM i ii) iii IXM IXM (ii) IXM IXM IXM IXM 90 IXM (iii) (a) (b) – VII-B-36 – B IXM (c) (d) (e) (iv) IXM IXM (v) IXM IXM IXM – VII-B-37 – B IXM IXM IXM IXM IXM IXM IXM IXM 9 – VII-B-38 – B IXM IXM B.V. (i) 3 (ii) (iii) IXM – VII-B-39 – B IXM IXM 9 39 9 9 – VII-B-40 – B IXM IXM IXM IXM IXM 9 80% 125% – VII-B-41 – B IXM IXM 9 IXM IXM IXM 9 IXM – VII-B-42 – B IXM 9 IXM 6.11. IXM IXM IXM – VII-B-43 – B IXM IXM 19 IXM IXM IXM IXM – VII-B-44 – B IXM IXM IXM – VII-B-45 – B IXM 6.12. IXM IXM – VII-B-46 – B IXM IXM IXM 6.13. 15 IXM IXM IXM IXM – VII-B-47 – B IXM IXM IXM IXM IXM IXM IXM IXM IXM IXM IXM 6.14. IXM (a) IXM (i) IXM (ii) IXM (iii) IXM IXM – VII-B-48 – B IXM (b) (i) IXM (ii) (iii) IXM (iv) (v) IXM IXM (vi) (a) (vii) (a)(i) (viii) IXM IXM 6.15. IXM – VII-B-49 – B IXM 6.16. 7. IXM 6 IXM B.V. IXM IXM – VII-B-50 – B IXM 20 21 22 23 30 IXM 13 IXM IXM 1.8 1.4 17 – VII-B-51 – B IXM 9.0 28.0 26.5 3.6 4.0 2.8 3.2 1.9 – VII-B-52 – B IXM 8. 9,227,311 12,259,912 13,001,229 11,877 14,110 2,109 5,396 4,331 1,103 9,244,584 12,278,353 13,004,441 9,244,584 12,278,353 13,004,441 9,244,584 12,278,353 13,004,441 9. IXM B.V. IXM 9.1 IXM (a) IXM – VII-B-53 – B IXM 6,817,852 8,605,302 8,286,992 1,817,067 2,802,770 3,301,352 171,265 245,880 132,938 288,633 456,500 1,063,182 149,767 167,901 219,977 9,244,584 12,278,353 13,004,441 (b) IXM 5,699 487 765 6,202 28,240 27,052 10,485 10,116 10,210 22,386 38,843 38,027 9.2. IXM 10% – VII-B-54 – B IXM 10. 43,259 61,031 88,310 (21,240) (27,975) (28,576) (64) (1,239) (196) (415) (141) (306) 21,540 31,676 59,232 11. Paul Akroyd Akroyd a – 350 350 Maurice Kreft Kreft b – – – – 350 350 – VII-B-55 – B IXM Paul Akroyd a – 350 350 Maurice Kreft b – – – – 350 350 Paul Akroyd a – 350 350 Maurice Kreft b – – – Ji Yongmei c – 237 237 – 587 587 (a) IXM IXM B.V. (b) Kreft Kreft LDH LDH LDH IXM (c) IXM B.V. IXM B.V. IXM IXM IXM B.V. IXM IMX B.V. – VII-B-56 – B IXM 12. IXM IXM B.V. 1,466 1,513 1,515 3,174 5,266 9,953 – – 518 4,640 6,779 11,986 IXM B.V. 3,500,001 5 5 5 IXM IXM – VII-B-57 – B IXM 13. 23 279 5,205 – – 533 – 1 17 (447) (575) 1,241 (106) (295) 6,996 (553) GKE 3.1 GKE 2.6 0.5 0.1 – VII-B-58 – B IXM 14. 14.1 1,674 2,582 437 (554) 671 2,368 1,013 6,647 9,899 693 (6,326) 498 1,892 53 89 1,683 565 680 – 606 73 459 299 199 6,860 5,097 14,243 630 8,607 (24) 11,363 (1,857) (2,802) (1,505) (68) 21 1,015 (1,335) 82 (944) (1,165) (428) 10,559 4,182 (3,151) 17,419 9,279 11,092 IXM B.V. 25% – VII-B-59 – B IXM 57,233 101,546 45,582 25% 14,308 25,387 11,396 1,954 2,321 689 (590) (127) (4) 42 1,272 746 668 688 698 668 (6,509) – 20 (12,103) (1,614) 349 (1,650) (819) 17,419 9,279 11,092 14.2 2,803 3,223 1,878 (28,998) (34,028) (29,105) (26,195) (30,805) (27,227) – VII-B-60 – B IXM (83) (15,955) – – – (16,038) (11,042) 14,251 (14,944) 422 754 (10,559) – – – – (2) (2) 302 102 – – – 404 (10,823) (1,602) (14,944) 422 752 (26,195) 1,986 703 (8,647) (110) 1,886 (4,182) – – – – (15) (15) – – – – 235 235 (531) (44) – – (73) (648) (9,368) (943) (23,591) 312 2,785 (30,805) 2,315 200 – (233) 869 3,151 – – – – 17 17 265 – – – 145 410 (6,788) (743) (23,591) 79 3,816 (27,227) – VII-B-61 – B IXM 15. 784 828 978 1,018 1,361 1,428 1,802 2,189 2,406 29,432 37,480 51,742 298 407 1,003 687 863 774 30,417 38,750 53,519 297 297 583 (2,455) 8,979 (8,209) 260 666 (664) 64 1,239 196 (2,131) 10,884 (8,677) 1,393 1,775 – – 3,551 463 4,856 (7,532) 881 354 540 1,488 5,210 (6,992) 2,369 – 267 – 8,781,564 11,505,090 13,026,386 – VII-B-62 – B IXM 16. 17. a 3,168 10,388 13,556 – 3,277 3,277 3,168 13,665 16,833 b – 26,576 26,576 c (3,168) (3,297) (6,465) – 36,944 36,944 – 933 933 – (463) (463) – 37,414 37,414 – VII-B-63 – B IXM a – 3,627 3,627 – 1,018 1,018 1,393 – 1,393 – (15) (15) 1,393 4,630 6,023 – 1,361 1,361 1,775 3,551 5,326 b (3,168) (2,329) (5,497) – 8,988 8,988 – 1,428 1,428 – 463 463 – 10,879 10,879 1,775 9,035 10,810 – 27,956 27,956 – 26,535 26,535 – VII-B-64 – B IXM (a) (b) 2,600 31(b) (c) GKE 13 GKE GKE 1.4 1.8 GKE Metal Logistics Pte.Ltd. 1,775 – – 346 – – Shanghai GKE Metal Logistics Co., Ltd. – – – 269 – – – VII-B-65 – B IXM 5 GKE Metal Logistics Pte. Ltd. Shanghai GKE Metal Logistics Co., Ltd. 9% 11% GKE Metal Logistics Pte. Ltd. Shanghai GKE Metal Logistics Co., Ltd. 5 9% 11% GKE Metal Logistics Pte. Ltd. Shanghai GKE Metal Logistics Co., Ltd. 18. 12,661 935 1,002 518 15,116 – 35 119 413 567 (1,916) (48) (13) (83) (2,060) 112 – 294 (427) (21) 47 (21) (39) – (13) 10,904 901 1,363 421 13,589 – 4 63 307 374 – (3) (33) – (36) – (383) (93) – (476) 550 132 (124) (558) – – 24 45 – 69 11,454 675 1,221 170 13,520 – VII-B-66 – B IXM 622 3 330 270 1,225 – (9) (33) – (42) 90 30 (41) (79) – – (2) (36) – (38) 12,166 697 1,441 361 14,665 2,720 214 455 – 3,389 542 57 185 – 784 (1,916) (48) (13) – (1,977) 48 (5) (17) – 26 1,394 218 610 – 2,222 578 57 193 – 828 – (3) (33) – (36) – (138) (80) – (218) – 11 25 – 36 1,972 145 715 – 2,832 715 73 190 – 978 – (7) (33) – (40) (1) (2) (21) – (24) 2,686 208 851 – 3,745 9,510 683 753 421 11,367 9,482 530 506 170 10,688 9,480 489 590 361 10,920 – VII-B-67 – B IXM GKE 13 19. 11,858 (10,933) 925 11,473 (11,473) – 26,785 (12,961) 13,824 236 – 236 271 – 271 – – – 12,094 (10,933) 1,161 11,744 (11,473) 271 26,785 (12,961) 13,824 9.8 8.7 8.7 3 6.5% 2.1 2.8 4.3 5% 9% 7.5% 8.5% 20. 0.3 1,274.5 1,656.6 1,314.9 – VII-B-68 – B IXM 21. 21.1 602,613 439,106 458,658 172,040 201,046 249,649 11,288 167 – – 61 559,266 835,579 567,993 1,345,207 1,475,898 1,276,361 276,370 146,693 109,976 190,128 396,806 156,548 2,052,727 2,643,463 2,264,599 2,519,225 3,186,962 2,531,123 21.2 IXM IXM – VII-B-69 – B IXM (a) IXM IXM IXM (b) IXM 95% 95% (i) IXM B.V. IXM B.V. – VII-B-70 – B IXM 2,189 1,805 898 20,734 21,018 542 54,839 79,099 91,025 266,284 412,831 405,436 1,452 2,487 2,400 29,676 26,141 19,218 4,238 9,176 604 9,500 8,294 13,344 5,328 3,614 2,978 4,458 3,266 1,222 IXM 5% 5% 5% 5% 5% 970 982 (296) 4,127 9,252 9,677 60 50 109 277 (46) 671 (46) (18) (92) 970 982 (296) 4,127 9,252 9,677 60 50 109 277 (46) 671 (46) (18) (92) – VII-B-71 – B IXM (ii) IXM 26 27 IXM 27 IXM IXM IXM 1,744,435 2,420,653 2,079,389 IXM 92,090 134,827 133,507 1,652,345 2,285,826 1,945,882 1,744,435 2,420,653 2,079,389 IXM IXM – VII-B-72 – B IXM 1.56% 5.99% 2.16% 6.30% 3.1% 5.07% 21.3 IXM IXM IXM 31 IXM IXM IXM IXM IXM IXM 9 IXM – VII-B-73 – B IXM IXM 12 IXM 12 19 IXM 12 0.9 31 IXM B.V. 12 IXM 8.7 65.4 35.6 – VII-B-74 – B IXM 1,282,655 (63) 1,282,592 1,305,255 – 1,305,255 1,157,985 – 1,157,985 8,014 (184) 7,830 65,616 (200) 65,416 35,961 (377) 35,384 235 (183) 52 199 (199) – 226 (226) – 302 (301) 1 381 (381) – 411 (411) – 11,769 (10,958) 811 3,381 (3,377) 4 4,024 (4,024) – 1,302,975 (11,689) 1,291,286 1,374,832 (4,157) 1,370,675 1,198,607 (5,038) 1,193,569 360,059 (5,845) 354,214 443,760 (1,301) 442,459 366,614 (1,300) 365,314 79,326 (3,768) 75,558 58,845 – 58,845 35,911 – 35,911 602,613 – 602,613 439,106 – 439,106 458,658 – 458,658 67,024 – 67,024 70,002 – 70,002 165,837 – 165,837 9,448 (2,076) 7,372 8,463 (2,856) 5,607 30,366 (3,738) 26,628 168,740 – 168,740 353,528 – 353,528 141,221 – 141,221 15,765 – 15,765 1,129 – 1,129 – – – – VII-B-75 – B IXM 21.4 IXM IXM IXM IXM IXM IXM IXM IXM – VII-B-76 – B IXM IXM IXM 3 3 6 6 – – 1,161 1,161 1,161 963,388 – 811 964,199 964,199 172,040 – – 172,040 172,040 168,740 – – 168,740 168,740 – – 15,765 15,765 15,765 2,300 – – 2,300 2,300 11,288 – – 11,288 11,288 9,714 – – 9,714 9,714 (1,652,826) (1,495) (111,072) (1,765,393) (1,744,435) – – (81,417) (81,417) (81,417) (499,444) (1,799) (2,002) (503,245) (503,245) (190,128) – – (190,128) (190,128) (1,014,928) (3,294) (176,754) (1,194,976) (1,174,018) – VII-B-77 – B IXM 3 3 6 6 – – 271 271 271 887,030 – 142 887,172 887,172 197,532 1,532 1,982 201,046 201,046 353,528 – – 353,528 353,528 1,129 – – 1,129 1,129 167 – – 167 167 32,585 – – 32,585 32,585 (2,287,539) (1,111) (158,458) (2,447,108) (2,420,653) – – (4,750) (4,750) (4,750) (358,098) (1,411) (616) (360,125) (360,125) (4,628) – – (4,628) (4,628) (394,378) (1,618) (810) (396,806.00) (396,806.00) (1,572,673) (2,608) (162,239) (1,737,520) (1,711,064) – – 15,317 15,317 13,824 850,600 – – 850,600 850,600 236,254 2,467 10,928 249,649 249,649 141,221 – – 141,221 141,221 61 – – 61 61 21,006 – – 21,006 21,006 (1,947,190) (1,687) (149,787) (2,098,664) (2,079,389) (272,975) (17,181) (5,030) (295,186) (295,186) (156,548) – – (156,548) (156,548) (1,127,571) (16,401) (128,572) (1,272,544) (1,254,762) – VII-B-78 – B IXM 21.5 IXM IXM IXM IXM IXM IXM IXM – 1,382,704 1,382,704 73,662 98,378 172,040 – 602,613 602,613 11,121 167 11,288 84,783 2,083,862 2,168,645 153,174 36,954 190,128 – 276,370 276,370 153,174 313,324 466,498 – VII-B-79 – B IXM 1 2 3 – 2,014,335 2,014,335 71,547 129,499 201,046 – 439,106 439,106 – 167 167 71,547 2,583,107 2,654,654 308,041 88,765 396,806 – 146,693 146,693 308,041 235,458 543,499 1 2 3 – 1,579,890 1,579,890 171,484 78,165 249,649 – 458,658 458,658 – 61 61 171,484 2,116,774 2,288,258 95,381 61,167 156,548 – 109,976 109,976 95,381 171,143 266,524 – VII-B-80 – B IXM 1,382,704 2,014,335 1,579,890 2 73,662 71,547 171,484 1 153,174 308,041 95,381 – 5,887 – 2 1,379 1,724 15,445 2 11,566 1,721 12,577 96,999 127,775 62,100 2 25,388 81,157 47,990 – – 620 2 600 – VII-B-81 – B IXM 11,121 – 1 167 167 2 61 2 602,613 439,106 458,658 2 276,670 146,693 109,976 2 21.6 IXM ISDA ISDA IXM – VII-B-82 – B IXM 52,221 (809) 51,412 – 120,628 172,040 – – – 168,740 – 168,740 52,221 (809) 51,412 168,740 120,628 340,780 14,220 (6,467) 7,753 – 193,293 201,046 – – – 353,528 – 353,528 14,220 (6,467) 7,753 353,528 193,293 554,574 – VII-B-83 – B IXM 154,368 (29,622) 124,746 – 124,903 249,649 – – – 141,221 – 141,221 154,368 (29,622) 124,746 141,221 124,903 390,870 (55,310) 208,638 153,328 36,800 190,128 – VII-B-84 – B IXM (24,333) 327,393 303,060 93,746 396,806 (10,091) 77,506 67,415 89,133 156,548 – VII-B-85 – B IXM IXM 21.7 96,999 25,388 127,775 81,157 62,100 47,990 – – – – 620 600 1,379 11,566 1,724 1,721 15,445 12,577 72,376 140,679 70,696 301,968 171,484 93,526 1,286 12,495 851 11,960 – 1,855 172,040 190,128 201,046 396,806 249,649 156,548 IXM – VII-B-86 – B IXM 22. 360,059 (5,845) 354,214 443,760 (1,301) 442,459 366,614 (1,300) 365,314 79,326 (3,768) 75,558 58,845 – 58,845 35,911 – 35,911 38,303 – 38,303 65,218 – 65,218 122,240 – 122,240 28,721 – 28,721 4,784 – 4,784 43,597 – 43,597 602,613 – 602,613 439,106 – 439,106 458,658 – 458,658 9,448 (2,076) 7,372 8,463 (2,856) 5,607 30,366 (3,738) 26,628 1,118,470 (11,689) 1,106,781 1,020,176 (4,157) 1,016,019 1,057,386 (5,038) 1,052,348 948,997 816,149 788,588 7,830 65,416 35,384 956,827 881,565 823,972 0 60 21.3 – VII-B-87 – B IXM 6,833 11,689 4,157 4,867 781 881 (11) (8,313) – 11,689 4,157 5,038 IMX 1,170 420 IXM 107.9 126.4 IXM 272.8 253.0 243.4 IXM – VII-B-88 – B IXM 23. Camrova Resources Inc. 167 167 a 11,121 – Camrova Resources Inc. b 61 c 2,300 – – 13,588 167 61 (a) IXM 16,878,000 30 IXM 66,768,000 520 (b) IXM B.V. IXM (c) 24. – VII-B-89 – B IXM 25. IXM 25.1. IXM IXM IXM B.V. 41,349 100 121 25.2. – (209) 155 (1,361) (1,415) 4,667 (327) 118 (3,930) 528 (279) 209 – – (70) 4,388 (118) 118 (3,930) 458 4,388 (327) 273 (5,291) (957) 817 (203) – 4,629 5,243 (5,205) 327 – – (4,878) (4,388) 124 – 4,629 365 – – – 125 125 – VII-B-90 – B IXM – (203) 273 (537) (467) – – (303) (4,928) (5,231) – 203 – – 203 – 203 (303) (4,928) (5,028) – – (30) (5,465) (5,495) 25.3. 134 (16) 118 – – – (344) 41 (303) 134 (16) 118 – – – (344) 41 (303) 4,388 – 4,388 (4,388) – (4,388) – – – (132) 14 (118) 139 (15) 124 227 (24) 203 (4,057) – (4,057) 4,792 – 4,792 (4,928) – (4,928) 199 14 213 543 (15) 528 (4,701) (24) (4,725) 333 (2) 331 543 (15) 528 (5,045) 17 (5,028) – VII-B-91 – B IXM 26. 1,609 3,114 2,199 90,000 130,000 130,000 91,609 133,114 132,199 IXM 91.6 9,000 5.25% 160 4.66% IXM 133.1 90 5.25% 40 6% 3.1 4.66% IXM 132.2 90 5.25% 40 6% 2.2 4.66% 27. IXM – VII-B-92 – B IXM 1,472,440 1,991,832 1,534,663 179,905 293,994 411,219 481 1,713 1,308 1,652,826 2,287,539 1,947,190 1,545,708 2,113,855 1,780,703 107,118 173,684 166,487 1,652,826 2,287,539 1,947,190 – 1,713 1,308 1,652,826 2,285,826 1,945,882 IXM 4.66% 4.66% 1.56% 5.99% 2.16% 6.30% 3.15% 5.07% 1,652.3 2,085.8 1,775.9 – VII-B-93 – B IXM 133,030 157,936 130,552 27,087 22,695 14,754 118 558 5,268 160,235 181,189 150,574 1,547.3 1,909.6 1,558.3 28. IXM IXM IXM IXM 330 528 871 330 528 871 – VII-B-94 – B IXM IXM 0.70% 0.65% 0.85% - 1 0.70% 1.00% 0.85% – 2 0.70% 0.65% 0.85% 1 0.70% 0.25% 0.85% 2 0.70% 0.65% 0.85% 1.00% 1.00% 1% 0.50% 0.50% 2% 0.00% 0.00% 0.00% M65/W64 M65/W64 M65/W64 BVG BVG BVG GT GT GT 10,210 11,840 12,263 (9,880) (11,312) (11,392) 330 528 871 – VII-B-95 – B IXM 311 330 528 161 209 – (134) – 344 (8) (11) (1) 330 528 871 9,499 10,210 11,840 687 863 774 79 75 75 (81) 28 380 246 198 2,861 – – (3,417) (220) 466 (250) 10,210 11,840 12,263 – VII-B-96 – B IXM 29. – 4,628 13,856 – 4,628 13,856 32 30. 168,880 163,545 159,019 276,370 146,693 109,976 13,901 23,944 16,628 15,844 5,369 56,821 57,995 49,887 26,191 532,990 389,438 368,635 – VII-B-97 – B IXM 0 60 445,250 310,238 268,995 0 60 15.8 5.4 56.8 4.0 15.8 5.4 31. (a) IXM 54,263 24,191 13,627 (b) IXM 167.2 260.0 265.0 IXM 5% 10% 10.6% 17.0 16.6 18.3 IXM 2,822 3,944 4,976 – VII-B-98 – B IXM 32. LDCH EPP EPP IXM LDCH IXM EPP IXM EPP IXM LDCH IXM LDCH IXM IXM LDCH IXM LDCH 2.0 1.9 LDCH 2.8 1 4.4 LDCH IXM 0.3 IXM LDCH (0.7) LDCH 3.0 EPP 12.7 – VII-B-99 – B IXM EPP 9.2 1.9 0.2 LDCH IXM (0.2) LDCH 1.8 EPP 8.2 3 4 4.5 3 4 6.7 2.6 EPP 3.3 2.7 LDCH EPP PERP PERP 32.6 PERP 37 4.4 PERP 17 53 32.6 PERP 7.9 0.9 – VII-B-100 – B IXM 33. 24 IXM LDH IXM NCCL NRIF (a) IXM 3,633 6,013 1,263 – 76,688 82,368 8 – 80,321 88,381 1,271 – (2,067) (957) (119) – (327,801) (152,385) (23,201) – – – – (108,266) (329,868) (153,342) (23,320) (108,266) – VII-B-101 – B IXM (1,820) (1,756) (1,616) – (17,601) (13,829) (2,546) – (19,421) (15,585) (4,162) – (4,831) (6,392) (2,421) (4,772) (4,336) (603) (7) – (9,167) (6,995) (2,428) (4,772) 32 – VII-B-102 – B IXM (b) 103 120 – 15,662 1,009 – 15,765 1,129 – 3,633 2,260 – 7,459 16,682 – 11,092 18,942 – 1,379 192 – 1,379 192 – 90,000 130,000 130,000 90,000 130,000 130,000 81,417 4,750 – 81,417 4,750 – 663 509 – 35,618 5,876 – 36,281 6,385 – 11,594 1,397 – 11,594 1,397 – – VII-B-103 – B IXM (c) IXM S.A. Louis Dreyfus Company Metals S.A. IXM B.V. Louis Dreyfus Company Suisse S.A. 250 (d) 11 34. IXM IXM IXM IXM IXM 250 1.1 – VII-B-104 – B IXM 35. IXM IXM 26 27 33 90,000 1,205,596 210,788 1,506,384 2,090 440,619 (129,371) 313,338 (481) 15,271 – 14,790 – (8,660) – (8,660) 91,609 1,652,826 81,417 1,825,852 42,737 597,100 (39,106) 600,731 (1,232) 27,445 (37,563) (11,350) – 10,168 2 10,170 133,114 2,287,539 4,750 2,425,403 (1,320) (330,366) (2,560) (334,246) 405 (1,155) (2,188) (2,938) – (8,828) (2) (8,830) 132,199 1,947,190 – 2,079,389 – VII-B-105 – B IXM 36. IXM 1,360 1,420 1,690 IXM 373 180 556 627 67 696 9 – – 1,009 247 1,252 IXM 20 37. NSR NSR IXM B.V. 100% IXM B.V. 38. IXM IXM B.V. – VII-B-106 – Deloitte Touche Tohmatsu VIII-5 VIII-18 VIII-4 IXM B.V. IXM New Silk Road Commodities SA 4.29 7 7 – VIII-1 – 1 4.29(7) 3420 4.29 7 – VIII-2 – (a) (b) (c) 4.29(1) Deloitte Touche Tohmatsu – VIII-3 – A. (a) (b) 4.29 14.69(4)(a)(ii) – VIII-4 – B. (i) IXM IXM IXM IXM 1 1 1 2 3 4 5 26,647,644 101 693 21,006 144,168 (3,421,580) 23,370,925 3,259,167 – – 823,972 5,655,085 8,914,252 151,004 – – 122,240 838,958 (5,778) 984,184 1,040,049 – – 167,849 1,151,982 2,192,031 9 6,615,915 – – 1,579,890 10,843,101 17,459,016 – – – 249,649 1,713,391 1,713,391 1,450,605 – – 87,205 598,505 2,049,110 39,164,384 101 693 3,051,811 20,945,190 56,682,909 – VIII-5 – IXM IXM IXM IXM 1 1 1 2 3 4 5 2,522,865 – – 572 3,926 76,882 2,603,673 448,174 – – – – 448,174 3,906,622 – – – – 3,906,622 3,179 – – – – 3,179 23,620,518 – – 10,920 74,946 23,695,464 1,893,822 – – – – 1,893,822 5,122,434 – – – – 5,122,434 20,931,052 – – 26,535 182,115 356,949 21,470,116 674,887 – – – – 674,887 129,023 – – 13,824 94,877 223,900 525,598 – – 1,878 12,889 538,487 2,273,559 – – – – 2,273,559 62,051,733 – – 53,729 368,753 62,854,317 101,216,117 101 693 3,105,540 21,313,943 119,537,226 – VIII-6 – IXM IXM IXM IXM 1 1 1 2 3 4 5 4,588,153 – – 1,947,190 13,363,954 17,952,107 4,250,711 – – – – 4,250,711 75,423 – – 156,548 1,074,420 1,149,843 1,148,073 – – 268,995 1,846,166 2,994,239 200,667 – – 37,190 255,242 (5,778) 450,131 517,344 – – 16,628 114,121 631,465 1,110,201 – – 3,411 23,410 (5,140) 1,128,471 1,027,782 23 158 26,191 179,754 34,265 1,241,959 2,929,839 – – – – 2,929,839 130,542 – – 19,631 134,731 265,273 15,978,735 23 158 2,475,784 16,991,798 32,994,038 – VIII-7 – IXM IXM IXM IXM 1 1 1 2 3 4 5 23,312 – – – – 23,312 20,196,855 – – 132,199 907,309 21,104,164 2,000,000 – – – – 2,000,000 129,065 – – 871 5,979 135,044 1,908,084 – – – – 1,908,084 66,675 – – – – 66,675 8,021,118 – – 29,105 199,753 49,937 8,270,808 3,294,336 – – 13,856 95,098 3,389,434 35,639,445 – – 176,031 1,208,139 36,897,521 51,618,180 23 158 2,651,815 18,199,937 69,891,559 49,597,937 78 535 453,725 3,114,006 49,645,667 – VIII-8 – IXM IXM IXM IXM 1 1 1 2 3 4 5 4,319,848 102 700 5,021 34,460 (35,160) 4,319,848 27,582,795 – – 27,268 187,146 (187,146) 27,582,795 (799,326) – – (5,495) (37,713) 37,713 (799,326) 3,038 – – – – 3,038 1,160,396 – – – – 1,160,396 8,682,124 (24) (165) 426,935 2,930,140 (2,929,975) 76,882 (29,125) 8,729,881 40,948,875 78 535 453,729 3,114,033 40,996,632 8,649,062 – – (4) (27) 8,649,035 49,597,937 78 535 453,725 3,114,006 49,645,667 101,216,117 101 693 3,105,540 21,313,943 119,537,226 – VIII-9 – (ii) IXM IXM IXM 1 1 1 4 5 6 7 25,962,863 – – 13,004,441 87,112,849 111,968,904 25,962,863 – – 13,004,441 87,112,849 (1,285,819) 179,011 111,968,904 16,180,247 – – 12,822,578 85,894,603 (1,285,819) 20,863 118,561 100,928,455 1,018,793 – – – – 1,018,793 96,822 – – – – 96,822 933,346 23 154 74,561 499,462 34,265 1,467,227 254,356 – – – – 254,356 643,046 1 7 59,232 396,777 1,039,830 66,583 – – – – 66,583 17,793 – – 2,369 15,869 33,662 - 122,408 – – – – 122,408 - 202,270 – – 434 2,907 (42,310) 162,867 (31,122) – – (553) (3,704) (34,826) 12,550 – – – – 12,550 - 7,057,983 (24) (161) 45,582 305,341 7,326,175 2,578 – – – – 2,578 70,705 – – – – 70,705 - 6,989,856 (24) (161) 45,582 305,341 7,258,048 1,839,816 – – 11,092 74,302 (5,140) (2,919) (35,568) 1,870,491 - 5,150,040 (24) (161) 34,490 231,039 5,387,557 (1) 1. - 5,150,040 (24) (161) 34,490 231,039 5,387,557 (2) 1. 514,458 – – – – 514,458 2. 4,635,582 (24) (161) 34,490 231,039 4,873,099 – VIII-10 – IXM IXM IXM 1 1 1 4 5 6 7 209,754 – – (5,028) (33,681) 191,229 (173,162) – – (5,028) (33,681) 15,156 (191,687) (1) (26,301) – – (303) (2,030) (28,331) 1. (26,301) – – – – (26,301) 2. – – – (303) (2,030) (2,030) (2) (146,861) – – (4,725) (31,651) (163,356) 1. – – – – – – 2. (20,822) – – – – 15,156 (5,666) 3. (17,113) – – 203 1,360 (15,753) 4. (108,926) – – (4,928) (33,011) (141,937) 382,916 – – – – 382,916 5,359,794 (24) (161) 29,462 197,358 5,578,787 4,462,420 (24) (161) 29,462 197,358 4,681,413 897,374 – – – – 897,374 – VIII-11 – (iii) IXM IXM 1 1 1 2 5 8 . 9,434,533 – – 322,938 2,163,265 (34,265) 11,563,533 . 6,076,816 – – – – 6,076,816 207,157 – – – – 207,157 43,630 – – 18 121 43,751 6,327,603 – – 18 121 6,327,724 – – – – – 3,234,429 3,234,429 2,807,367 – – 2,033 13,618 2,820,985 4,852,213 – – – – 4,852,213 1,065,210 – – 15,044 100,775 1,165,985 8,724,790 – – 17,077 114,393 12,073,612 (2,397,187) – – (17,059) (114,272) (5,745,888) – VIII-12 – IXM IXM 1 1 1 2 5 8 . 8,571,932 – – – – 8,571,932 3,013,969 102 683 17,269 115,680 (116,363) 3,013,969 11,585,901 102 683 17,269 115,680 11,585,901 9,999,664 – – 334,246 2,239,013 12,238,677 2,646,126 – – 2,646,126 2,786,560 – – – – 2,786,560 15,432,350 – – 334,246 2,239,013 17,671,363 (3,846,449) 102 683 (316,977) (2,123,333) (6,085,462) 268,389 (1) (7) (481) (3,222) 265,160 3,459,286 101 676 (11,579) (77,562) (2,657) 19,781,419 – – 32,585 218,277 116,363 20,116,059 23,240,705 101 676 21,006 140,715 20,113,402 – VIII-13 – C. 1. IXM IXM IXM B.V. IXM 1 6.8632 1 6.6987 2. 495 3,397 3,234 1 6.5342 IXM 100% – VIII-14 – 4 24 499 3,422 495 3,234 20 IXM IXM 13.99% – VIII-15 – IXM IXM 78 453,729 453,807 3,114,568 – 52,009 52,009 356,949 – (7,276) (7,276) (49,937) 78 498,462 498,540 3,421,580 3,421,580 3,421,580 – – VIII-16 – 3. (i) IXM IXM 2,394,000 16,432,000 IXM IXM 8,808,000 60,450,000 IXM 498,540 3,421,580 IXM 78 453,729 453,807 3,114,568 IXM 39,412 270,496 IXM 5,321 36,516 IXM B.V. 45% 45% IXM 2,394 16,432 4. IXM 5. 15% 6. – VIII-17 – IXM 20,863,000 7. 45% IXM IXM 8. IXM 9. IXM 2 3 5 IXM – VIII-18 – A A. . 1. – 1 23 24 2. 1,000 23,000 24,000 – IX-A-1 – A . 1. (24) 1 (23) 15 8 – – 102 102 102 – (1) 101 – IX-A-2 – A 102,000 100,000 2. 101 101 15 8 23 – IX-A-3 – A 78 78 102 (24) 78 101,000 15,000 8,000 IXM 3. 82% 4. – IX-A-4 – A . . . . IXM IXM I. – IX-A-5 – B IXM B. IXM IXM . IXM IXM 13,004.4 6% 45.6 34.5 IXM IXM – IX-B-1 – B IXM . (a) 6,817,852 8,605,302 8,286,992 1,817,067 2,802,770 3,301,352 171,265 245,880 132,938 288,633 456,500 1,063,182 149,767 167,901 219,977 9,244,584 12,278,353 13,004,441 – IX-B-2 – B IXM (b) IXM 5,699 487 765 6,202 28,240 27,052 10,485 10,116 10,210 22,386 38,843 38,027 IXM 10% . IXM IXM 9,244.6 12,278.4 13,004.4 IXM IXM 9,109.2 12,097.1 12,822.6 – IX-B-3 – B IXM IXM 135.4 181.2 181.9 1.4% 1.5% IXM 51.2 62.2 74.6 IXM IXM IXM IXM 21.5 31.7 59.2 IXM (0.3) 7.0 (0.5) IXM IXM 17.4 9.3 47% 11.1 19% – IX-B-4 – B IXM . IXM 9,244,584 12,278,353 13,004,441 (9,109,217) (12,097,105) (12,822,578) 135,367 181,248 181,867 (5,210) 6,992 (2,369) (51,238) (62,209) (74,561) (43,259) (61,031) (88,310) 21,240 27,975 28,576 64 1,239 196 415 141 306 (21,540) (31,676) (59,232) 149 195 434 (295) 6,996 (553) 57,233 101,546 45,582 (17,419) (9,279) (11,092) 39,814 92,267 34,490 40,298 92,627 34,490 (484) (360) – 39,814 92,267 34,490 – IX-B-5 – B IXM . IXM 9,244.6 33% 12,278.4 IXM 9,109.2 33% 12,097.1 IXM 135.4 45% 181.2 IXM 51.2 21% 62.2 IXM 21.5 47% 31.7 – IX-B-6 – B IXM IXM 0.3 7.0 IXM 5.2 1 IXM 17.4 47% 9.3 IXM IXM 39.8 132% 92.3 . IXM 12,278.4 6% 13,004.4 2% IXM 12,278.4 6% 13,004.4 IXM 181.2 0.3% 181.9 1.4% – IX-B-7 – B IXM IXM 62.2 20% 74.6 IXM 31.7 87% 59.2 IXM 7.0 0.6 IT IXM 9.3 20% 11.1 IXM 92.3 63% 34.5 – IX-B-8 – B IXM . (513,790) (578,742) 322,938 (3,562) 490 (17,059) 313,097 600,731 (316,977) (529) 392 (481) (204,784) 22,479 (11,098) 214,498 9,714 32,585 9,714 32,585 21,006 IXM IXM IXM IXM 322.9 137.7 207.8 IXM 578.7 443.7 154.9 179.5 – IX-B-9 – B IXM IXM 513.8 314.4 290.2 105.8 IXM IXM 17.1 IXM 0.5 IXM IXM 3.6 IXM IXM 317.0 332.9 17.3 IXM 600.7 IXM 40 – IX-B-10 – B IXM IXM 313.1 . IXM 132.2 90 5.25% 40 6% 2.2 4.66% 133.1 91.6 IXM $1,534,663 $1,991,832 $1,472,440 411,219 293,994 179,905 $1,945,882 $2,285,826 $1,652,345 1,308 1,713 481 $1,947,190 $2,287,539 1,652,826 $1,308 $1,713 $– $1,945,882 $2,285,826 1,652,826 – IX-B-11 – B IXM $1,796,616 $2,106,350 $1,492,591 130,552 157,936 133,030 14,754 22,695 27,087 5,268 558 118 $1,947,190 $2,287,539 $1,652,826 IXM 3.7 14.3 2.0 – IX-B-12 – B IXM IXM GKE Metal Logistics Pte Ltd IXM IXM IXM 54,263 24,191 13,627 IXM 4,976 – IX-B-13 – B IXM . IXM 411.8 537.0 576.0 IXM 1,382,704 2,014,335 1,579,890 1,106,781 1,016,019 1,052,348 172,040 201,046 249,649 168,740 353,528 141,221 4,848 6,734 7,636 15,765 1,129 – 13,588 167 61 9,714 32,585 21,006 2,874,180 3,625,543 3,051,811 1,652,826 2,287,539 1,947,190 81,417 4,750 – 532,990 389,438 368,635 190,128 396,806 156,548 5,006 10,038 3,411 2,462,367 3,088,571 2,475,784 411,813 536,972 576,027 – IX-B-14 – B IXM IXM 1,382.7 2,014.3 1,579.9 IXM 46% IXM 22% IXM (18.1) (195.8) 93.1 IXM IXM 168.7 110% 353.5 IXM 353.5 60% 141.2 – IX-B-15 – B IXM IXM IXM 1,106.8 1,016.0 1,052.3 IXM 8% IXM 4% IXM 533.0 389.4 368.6 IXM 27% IXM 5% . IXM IXM . IXM IXM – IX-B-16 – B IXM IXM IXM IXM IXM 95% 95% – IX-B-17 – B IXM IXM IXM (ESG) IXM IXM IXM IXM IXM IXM IXM – IX-B-18 – B IXM IXM 36.9 IXM IXM IXM IXM IXM IXM IXM IXM – IX-B-19 – B IXM . IXM IXM IXM IXM IXM 250 1.1 . IXM 1,785.6 . IXM . IXM 85% 85% 82% 17.3 332.9 . IXM 280 30.4 38.8 53.5 IXM IXM 32.6 IXM IXM Louis Dreyfus IXM – IX-B-20 – . New Silk Road Commodities SA NSRC 100% NSRC IXM.B.V. IXM 100% NSRC IXM 100% . NSRC IXM . NSRC IXM NSRC IXM . . – X-1 – . (DCF) DCF FCFE(Free Cash Flow to Equity) (CAMP) E=P+C (1) E: P: n Ri Rn +1 P=∑ i + (2) i =1 (1 + r ) r (1 + r ) n Ri : i r: n: C: – X-2 – – X-3 – . 1. 2. 3. – X-4 – 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. – X-5 – 11. 12. 13. 14. 15. – X-6 – . 453,807 500,000 46,193 10.18% 453,807 501,000 47,193 10.40% – X-7 – (1) (2) NSRC IXM 500,000 . – X-8 – IXM , 1 ( ) 5,500 2 ( ) 15,000 IXM 560 841 Winston & Strawn LLP Metals MEA DMCC DMCC DMCC Louis Dreyfus Commodities MEA Trading DMCC LDC Trading Naim Khanafer Khanafer Shift General Trading LLC Shift Concorde Villa Limited/ConcKhanafer Shift Concordeorde Pour L’Industrie et L’Exploitation SPRL Concorde Khanafer Shift Concorde 1,000 LDC Trading DMCC LDC Trading 1 DMCC LDC Trading DMCC LDC Trading LDC Trading Concorde4,400 2 DMCC LDC Trading 140 3 DMCC LDC Trading 1,427.7775 8% – X-9 – 1. 0.35% 2. 60 3. 0.46% – X-10 – 1. (IFRS) 2. 1. 2. 3. – X-11 – 4. 5. 6. 7. 8. (1) (2) (3) – X-12 – . – X-13 – IXM [2013]110 [2015]31 . . – XI-1 – . 3 2019-2021 . 1. 2. 3. 4. – XI-2 – 5. 6. – XI-3 – 2019-2021 2019-2021 [2012]37 3 [2013]43 2019-2021 . . – XII-1 – 2019-2021 . 2019-2021 1. 2. 80% 40% 20% 30% 30% – XII-2 – 2019-2021 3. . 1. 2. – XII-3 – 2019-2021 3. 2/3 – XII-4 – 1. 2. (A) XV (i) XV 7 8 ; (ii) 352 (iii) A 1,587,692 0.0074% 0.0074% A 1,064,400 0.0049% 0.0049% A 1,050,600 0.0049% 0.0049% A 1,063,500 0.0049% 0.0049% – XIII-1 – (B) XV 2 3 XV 2 3 5% 5,329,780,425 A 30.17% 5,329,780,425 A 30.17% 5,030,220,000 A 28.47% 303,000,000(L) H 7.70% Cathay Fortune Investment 303,000,000(L) H 7.70% Limited 5,030,220,000 A 28.47% 303,000,000(L) H 7.70% BlackRock, Inc. 377,823,247 (L) H 9.61% (L) 17,862,000 (S) H 0.45% (S) 237,000(L) H 0.00%(L) 8,809,552(L) H 0.22%(L) 1,886,792(S) H 0.04%(S) 227,494,410(L) H 5.78%(L) (L) – (S) – XV 2 3 5% – XIII-2 – 3. 4. a) b) 5. 6. XV 2 3 – XIII-3 – 7. 8. (1) CMOC Limited BHR Newwood Investment Management Limited BHR Newwood DRC Holdings Ltd. 1,135,993,578.71 CMOC Limited BHR Newwood Investment Management Limited (2) – XIII-4 – 9. Deloitte Touche Tohmatsu 10. a) b) c) – XIII-5 – 11. 183 54 a) b) c) d) e) f) Deloitte Touche Tohmatsu A g Deloitte Touche Tohmatsu IXM B h) Deloitte Touche Tohmatsu i) j) k) l) – XIII-6 – (股份代號:03993) 239 1. 2. 3. 4. 5. 6. – AGM-1 – 7. 8. 9. 10. 11. 12. A H (a) A H 20% A (i) (ii) (iii) – AGM-2 – (iv) (v) (b) A H A H 20% (c) A H (d) (e) (i) 12 (ii) (iii) (f) – AGM-3 – (g) 13. H (a) (b) (c) (d) H (b) (a) H H 10% (c) (a) (i) A H (c)(i) (ii) (iii) – AGM-4 – (d) (i) (ii) (e) H 1. 2. 3. 4. 5. 6. 14. 15. 16. – AGM-5 – 17. 18. 19. [2007]128 20. 21. 22. 23. 2019-2021 – AGM-6 – (1) (2) (3) H (10) (4) H H 24 H H (9) (5) H H H H H H H H H 183 17 1712 1716 (6) H H H H H H H H H 183 17 1712 1716 – AGM-7 – (7) (8) (9) H 183 17M (+852)2862 8555 (+852)2865 0990 (+852)2529 6087 (10) 471500 (+86)379 6860 3993 (+86)379 6865 8017 * – AGM-8 – H (股份代號:03993) H A A 239 H H 1. H (a) (b) (c) (d) H (b) (a) H H 10% – NOTICE-1 – H (c) (a) (i) A (c)(i) (ii) (iii) (d) (i) (ii) (e) H (i) (ii) (iii) – NOTICE-2 – H (iv) (v) (vi) (1) (2) H H (8) (3) H H H H H H 24 H H (7) H – NOTICE-3 – H (4) H H H H H H H H H H H H 183 17 1712 1716 (5) H (6) H (7) H 183 17M (+852)2862 8555 (+852)2865 0990 (+852)2529 6087 (8) 471500 (+86)379 6860 3993 (+86)379 6865 8017 H H * – NOTICE-4 –