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LISTED PORTS IN CHINA 266.5bn RMB in assets and set for 50% market coverage Overview, benchmarks and profiles of China’s listed port group companiescontact@industreams.comInduStreams.com & Port-Investor.com

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Listed port groups and upcoming IPO’s Compared to most other countries (if not all) China has the highest share of listed port groups. Measured in share of total throughput per port an estimated 39% are already listed today and with 3 major upcoming IPO’s this is will increase to about half of the Chinese port market. These companies are unlike other port groups around the world in that they own a substantial part of not only general port infrastructure but also the terminal operations in their respective ports. In total for 2011 the listed port groups Notes: Stock exchange abbreviations used reported an asset base in excess of one quarter are for Shanghai Stock Exchange trillion RMB. (SSE), Shenzhen Stock Exchange (SZE) and Hong Kong Stock Exchange (HKG).contact@industreams.comInduStreams.com & Port-Investor.com

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Company size (assets and turnover) In 2011 assets worth a total of 266.5bn RMB was wholly or partly owned by the listed Chinese port groups with a corresponding turnover of 99.7bn RMB. Among these, Shanghai Port Group Co. (SIPG), has no equal and alone represents more than 30% of the listed port groups. Benchmarked in turnover Wuhu Port Co. is the biggest, but as a number of port group companies have significant trading activities, including Wuhu, this benchmark is to a lesser extent a like to like Notes: Asset and turnover figures are in million RMB. comparison.contact@industreams.comInduStreams.com & Port-Investor.com

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Company results (operating margin) Combined the listed port groups made an approximate 17.6bn RMB in operating result (EBT) for 2011. Also here Shanghai achieved results much higher than the closest port group. Combined the top three delivered more than 2/3 of the total for the listed companies. As a larger number of the companies have significant minority holdings the margin indication is only a reference, it cannot be used to benchmark across companies. Notes: EBT represents profit before income tax and any extraordinary items as per PRC accounting regulation. Indicated EBT is in million RMB. The “Margin” indication is EBT divided bycontact@industreams.com total turnover.InduStreams.com & Port-Investor.com

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Company growth (turnover and EBT) The table shows turnover and EBT average annual growth from 2007 to 2011. The fastest growing in both turnover and EBT have been port group companies in “secondary” or some of the relatively smaller port markets and the few that have declined are all from the Pearl River Delta in south China. Notes: Wuhu and Tianjin have been excluded given their recent take over of significant new activities.contact@industreams.comInduStreams.com & Port-Investor.com

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APPENDIX PORT GROUP COMPANY PROFILEScontact@industreams.comInduStreams.com & Port-Investor.com

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Overview Notes: Assets, turnover and EBT are all in million RMB. EBT represents profit before income tax and any extraordinary items as per PRC accounting regulation. The outlined CAGR is the average annual growth from 2007 to 2011, Wuhu and Tianjin have no CAGR indication given their recent take over of significant new activities. Stock exchange abbreviations used are for Shanghai Stock Exchange (SSE), Shenzhen Stock Exchange (SZE) and Hong Kong Stock Exchange (HKG). Tianjin Port Co. (SSE:600717) and Xiamen Port Dev. Co. (SZE:000905) are controlled by other listed port companies (Tianjin Port Holdings and Xiamen Port Co.) and therefore not treated separately.contact@industreams.comInduStreams.com & Port-Investor.com

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1. Shanghai Port Company (SSE:600018) 2% Overview Ownership: Shanghai International Port Group Co. is 22% Container headquartered in Shanghai and controlled by Shanghai Bulk and general cargo State-owned Assets Supervision and Administration 46% Commission (40.8% ownership). China Merchants Port logistics Holdings International also hold a significant share of Port service SIPG (24.5%). SIPG is listed on the Shanghai Stock 19% Exchange (stock code 600018). Others Port activities: SIPG reported a total turnover of RMB 11% 21.8bn, and operating result of RMB 7.0bn on a total asset base of RMB 83.3bn for 2011 and representing a 33.4% and 25.6% increase over 2007 respectively or average y-o-y growth of 7.5% and 5.9%. Close to all of 25,000 8,000.0 SIPG activities are directly port related (98%) of which container handling represented the biggest segment 7,000.0 20,000 followed by port services and logistics. For their 6,000.0 container terminal activities SIPG reported a total Million RMB 15,000 5,000.0 throughput of 31.7mn TEU. 4,000.0 10,000 3,000.0 Main port locations: With the exception of one facility in Europe, SIPG activities are all the Yangtze River Delta 2,000.0 5,000 and River of which the vast majority are in Shanghai. 1,000.0 - - Reference: The pie chart outlines segment as a share of 2007 2008 2009 2010 2011 turnover and the turnover/result chart covers all Turnover 16,328 18,140 16,545 19,105 21,779 segments. EBT represents profit before income tax and any extraordinary items as per PRC accounting EBT 5,595.9 7,098.7 4,760.4 6,630.7 7,031.0 regulation.contact@industreams.comInduStreams.com & Port-Investor.com

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2. Tianjin Port Holdings (HKG:3382) Overview 14% Ownership: Tianjin Port Development Holdings is 28% Bulk and general cargo headquartered in Tianjin and majority owned by Tianjin Port Group a PRC state-owned company. TPD Container is listed on the Hong Kong Stock Exchange (stock code Trading 3382). TPD owns a controlling share of Tianjin Port Co. 10% Port service Ltd., which is listed on the Shanghai Stock Exchange 48% (stock code 600717). Port activities: TPD reported a total turnover of RMB 16.5bn, and operating result of RMB 1.9bn on a total asset base of RMB 33.56bn for 2011. The take-over of Tianjin Port Co. happened in 2010 and the outlined results are re-stated to 2009, 2007-2008 represent 18,000 2,500 TPD results prior to the take-over. About half of TPD 16,000 turnover was derived from port related activities and 2,000 14,000 te other half from trading activities. For its port Million RMB 12,000 1,500 related business TPD reported throughput of 11.59mn 10,000 TEU for container cargo and 249.5mn tons for non- 1,000 8,000 container. 6,000 500 4,000 Main port locations: All of TPD activities are in Tianjin - (PRC). 2,000 - (500) 2007 2008 2009 2010 2011 Reference: The pie chart outlines segment as a share Turnover 1,194 1,259 12,508 15,053 16,548 of turnover and the turnover/result chart covers all segments. EBT represents profit before income tax EBT 287 181 (17) 1,582 1,936 and any extraordinary items as per PRC accounting regulation.contact@industreams.comInduStreams.com & Port-Investor.com

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3. Ningbo Port Company (SSE:601018) Overview 20% Ownership: Ningbo Port Co. is headquartered in Ningbo Container related and majority owned by Ningbo Port Group (71.29%) a 42% state-owned company wholly owned by the Ningbo Dry bulk & general cargo Asset Supervision and Administration Commission. NPC Oil related is listed on the Shanghai Stock Exchange (stock code 601018). Logistics and others 36% Port activities: NPC reported a total turnover of RMB 6.98bn, and operating result of RMB 2.97bn on a total 2% asset base of RMB 33.4bn for 2011 representing a 52.7% and 33.4% increase over 2008 respectively or average y-o-y growth of 15.1% and 10.1%. A majority of NPC activities are from direct port handling related 8,000 3,500 activities of which most are dry-cargo related, the remainder is from logistics and related activities. For 7,000 3,000 their port related activities NPC reported a total 6,000 2,500 throughput of 386mn tons including 15.2mn TEU in Million RMB 5,000 2011. 2,000 4,000 1,500 Main port locations: The vast majority of NPC activities 3,000 1,000 are in Ningbo, but they also have activities in other PRC 2,000 cities. 1,000 500 - - Reference: The pie chart outlines segment as a share of 2008 2009 2010 2011 turnover and the turnover/result chart covers all Turnover 4,574 4,889 6,004 6,983 segments. EBT represents profit before income tax and any extraordinary items as per PRC accounting EBT 2,227 2,068 2,429 2,970 regulation. NPC was listed in 2010 and financial results are only available from 2008.contact@industreams.comInduStreams.com & Port-Investor.com

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4. Dalian Port Company (HKG:2880) Overview Ownership: Dalian Port (PDA) Co. is headquartered 27% 25% Bulk and general cargo in Dalian and majority owned by Dalian Port Group Container which is PRC state-owned company. DPC is listed on the Hong Kong Stock Exchange (stock code 2880). Oil & liquid 3% Ro/Ro & passenger Port activities: DPC reported a total turnover of 23% Port service & others RMB 3.96bn, and operating result of RMB 821mn 22% on a total asset base of RMB 27.17bn for 2011 and representing a 46.4% and 11.7% increase over 2007 respectively or average y-o-y growth of 10.0% and 2.8%. A majority of DPC activities come from terminal operation mainly in the container, dry and 4,500 1,200 liquids segments, the remainder from port 4,000 management services. For 2011 DPC reported 1,000 throughput of 7.42mn TEU, 65.1mn tones of dry 3,500 bulk and general cargo and 40.9mn tons for oil and Million RMB 3,000 800 2,500 liquid bulk. 600 2,000 1,500 400 Main port locations: DPC have a few activities in 1,000 other PRC cities but vast majority are in Dalian. 200 500 - - Reference: The pie chart outlines segment as a 2007 2008 2009 2010 2011 share of turnover and the turnover/result chart Turnover 2,702 2,953 3,022 3,337 3,955 covers all segments. EBT represents profit before income tax and any extraordinary items as per PRC EBT 735 683 818 995 821 accounting regulation.contact@industreams.comInduStreams.com & Port-Investor.com

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5. Wuhu Port Company (SSE:600575) 1% 3% Overview Ownership: Wuhu Port Storage & Transportation Co. Ltd. is headquartered in Wuhu and part owned Port operation by Huainan Mining Group (32.02%), one of the Railway transportation largest coal producers in PRC (owned by Anhui State-owned Supervision and Administration Logistics and trading Commission (72.88%) and other state-owned entities). WPC is listed on the Shanghai Stock 96% Exchange (stock code 600575). Port activities: WPC reported a total turnover of RMB 30.1bn, and operating result of RMB 460mn on a total asset base of RMB 16.53bn for 2011. As 35,000 500.0 WPC took over trading activities in 2011 which 450.0 now represent the by far most significant segment 30,000 400.0 in its portfolio no meaning comparison to previous 25,000 350.0 Million RMB 300.0 years can be made. 20,000 250.0 15,000 200.0 Main port locations: All of WPC activities are in 10,000 150.0 the Anhui Province (PPC). 100.0 5,000 50.0 Reference: The pie chart outlines segment as a - - share of turnover and the turnover/result chart 2007 2008 2009 2010 2011 covers all segments. EBT represents profit before Turnover 161 179 126 4,049 30,055 income tax and any extraordinary items as per PRC EBT 42.6 42.5 3.9 23.8 460.0 accounting regulation.contact@industreams.comInduStreams.com & Port-Investor.com

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6. Yingkou Port Company (SSE:600317) Overview 7% Ownership: Yingkou Port Liability Co. Ltd. is headquartered in Yingkou and controlled by Port operation Yingkou Port Group (59.65%), which is fully owned by the Yingkou Municipal Government. YPC is listed Others on the Shanghai Stock Exchange (stock code 600317). 93% Port activities: YPC reported a total turnover of RMB 2.9bn, and operating results of RMB 351mn on a total asset base of RMB 11.3bn for 2011 and representing a 128.8% and 31.5% increase over 2007 respectively or average y-o-y growth of 23.0% 3,500 400.0 and 7.1%. Close to all of YPC activities are directly 350.0 port related and include dry bulk cargo (mainly 3,000 metal ore, coal and grain), liquid bulk (oil) and 2,500 300.0 containers and reported a total throughput of Million RMB 250.0 168mn tons for 2011. 2,000 200.0 1,500 150.0 Main port locations: All of YPC activities are in 1,000 100.0 Yingkou (PRC). 500 50.0 - - Reference: The pie chart outlines segment as a 2007 2008 2009 2010 2011 share of turnover and the turnover/result chart Turnover 1,274 1,951 1,876 2,343 2,914 covers all segments. EBT represents profit before income tax and any extraordinary items as per PRC EBT 267.0 368.5 236.7 275.9 351.0 accounting regulation.contact@industreams.comInduStreams.com & Port-Investor.com

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7. Tangshan Port Group Co. (SSE:601000) 1% Overview 4% Ownership: Tangshan Port Group Co. Ltd. is Port operation headquartered in Tangshan and controlled by 26% Port management Tangshan Asset Supervision and Administration Commission. TPG is listed on the Shanghai Stock Trading Exchange (stock code 601000). Transportation 62% 7% Misc. Port activities: TPG reported a total turnover of RMB 3.0bn, and operating result of RMB 623mn on a total asset base of RMB 10.55bn for 2011 representing a 122.6% and 145.7% increase over 2007 respectively or average y-o-y growth of 30.6% and 34.9%. The majority of TPG activities are from 3,500 700 port related business and about 1/4 from trading related. For port related activities TPG primarily 3,000 600 operate dry-bulk cargo (including coal, iron ore and 2,500 500 steel) and TPG reported a total throughput of Million RMB 2,000 400 83.1mn tons of throughput for 2011. 1,500 300 Main port locations: All of TPG activities are in the 1,000 200 Hebei Province (PRC). 500 100 Reference: The pie chart outlines segment as a - - 2008 2009 2010 2011 share of turnover and the turnover/result chart Turnover covers all segments. EBT represents profit before 1,347 1,930 2,557 2,998 income tax and any extraordinary items as per PRC EBT 254 377 495 623 accounting regulation.contact@industreams.comInduStreams.com & Port-Investor.com

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8. Rizhao Port Company (SSE:600017) 4% Overview 9% Ownership: Rizhao Port Co. Ltd. is headquartered in Rizhao and controlled by Rizhao Port Group Lifting (37.66%), which is wholly owned by Rizhao Storage Municipal Government. RPC is listed on the Port management Shanghai Stock Exchange (stock code 600017). Port activities: For 2011 RCP reported a turnover 87% of RMB 3.56bn and operational result of RMB 625mn on a total asset base of RMB 10.43bn representing an increase of 196.3% and 257.3% over 2007 respectively or an average y-o-y growth of 31.2% and 37.5%. All RCP activities are 4,000 700.0 materially generated from port related business 3,500 600.0 including dry bulk cargo (namely metal ore 3,000 (67%), coal (15%) and cement). For port related 500.0 Million RMB 2,500 business RCP reported a total throughput of 400.0 198mn tons in 2011. 2,000 300.0 1,500 200.0 Main port locations: All of RZP activities are in the 1,000 100.0 Shandong province (PRC). 500 - - Reference: The pie chart outlines segment as a 2007 2008 2009 2010 2011 share of turnover and the turnover/result chart Turnover 1,202 1,775 2,407 3,156 3,561 covers all segments. EBT represents profit before EBT 174.9 413.8 531.0 570.0 625.0 income tax and any extraordinary items as per PRC accounting regulation.contact@industreams.comInduStreams.com & Port-Investor.com

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9. Jinzhou Port Company (SSE:600190) Overview 25% Ownership: Jinzhou Port Co. Ltd. is headquartered in Jinzhou and controlled the Dongfang Group Port which holds 19.73%. Other large shareholders include Dalian Port Group (19.44%), Jinzhou SASAC Others (11.53%) and Petro China (7.57%). JPC is listed on the Shanghai Stock Exchange (stock code 600190). 75% Port activities: JPC reported a total turnover of RMB 1.19bn, and operating result of RMB 341.8mn on a total asset base of RMB 7.85bn for 2011 and representing a 125.7% and 199.8% increase over 2007 respectively or average y-o-y 1,400 400.0 growth of 22.6% and 31.6%. The majority of JPC 1,200 350.0 activities are directly port related and include dry 300.0 bulk (coal, oil and grain) and some container 1,000 Million RMB 250.0 activity. 800 200.0 600 Main port locations: Majority of JPC activities are 150.0 400 in Jinzhou (PRC). 100.0 200 50.0 Reference: The pie chart outlines segment as a - - share of turnover and the turnover/result chart 2007 2008 2009 2010 2011 covers all segments. EBT represents profit before Turnover 526 792 739 864 1,188 income tax and any extraordinary items as per PRC EBT 114.0 226.4 222.7 294.6 341.8 accounting regulation.contact@industreams.comInduStreams.com & Port-Investor.com

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10. Xiamen Port Company (HKG:3378) Bulk and general cargo Overview 12% 6% Container Ownership: Xiamen International Port Co. is headquartered in Xiamen and majority owned by Xiamen 26% Port Holding Group (62.46%), which is a PRC state-owned Port & Logistics service company wholly owned by Xiamen Asset Supervision and Administration Commission. XPC is listed on the Hong 34% Kong Exchange (stock code 3378). XPC is also the Trading majority owner of Xiamen Port Development Co. (55.13%), which is listed on the Shenzhen Stock Exchange 22% Construction material (stock code 000905). manufacturing & trading Port activities: XPC reported a total turnover of RMB 3.1bn, and operating result of RMB 449mn on a total asset base of RMB 6.67bn for 2011 representing a 6.2% increase and 18.1% decline from 2007 respectively or 4,000 600 average y-o-y growth of 1.5% and -4.9%. A majority of 3,500 500 XPC activities are directly port related but a larger share 3,000 is also derived from trading. For its port related activities Million RMB 2,500 400 XPC reported 4.15mn TEU and 6.8mn tons of bulk and general cargo in 2011. 2,000 300 1,500 200 Main port locations: The vast majority of XPC activities 1,000 are in Xiamen (PRC), but XPC also have minor activities in 500 100 other cities (PRC). - - 2007 2008 2009 2010 2011 Reference: The pie chart outlines segment as a share of turnover and the turnover/result chart covers all Turnover 2,891 3,412 2,066 2,242 3,069 segments. EBT represents profit before income tax and EBT 548 506 323 460 449 any extraordinary items as per PRC accounting regulation.contact@industreams.comInduStreams.com & Port-Investor.com

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11. Chiwan Wharf Holdings (SZE:000022) 3% Overview 6% Ownership: Shenzhen Chiwan Wharf Holdings is headquartered in Shenzhen and majority owned by Port operation China Nanshan Development Group (a PRC state- owned company). Other significant shareholders of Transportation NDG include China Merchants Holdings International Other port service (CMHI) and CNOOC. SCW is listed on the Shenzhen Stock Exchange (stock code 000022). 91% Port activities: SCW reported a total turnover of RMB 1.7bn, and operating result of RMB 816.3mn on a total asset base of RMB 6.54bn for 2011 representing a 14.7% and 21.7% decline from 2007 respectively or average y-o-y decline of 3.9% and 5.9%. Materially all 2,500 1,200.0 of SCW activities are directly port related and SCW 1,000.0 reported throughput of 4.12mn TEU of container 2,000 cargo and 9.2mn tons of non-container for 2011. Million RMB 800.0 1,500 600.0 Main port locations: The vast majority of SCW 1,000 activities are in Shenzhen Chiwan port area, but they 400.0 also have some activities in elsewhere in the Pearl 500 River Delta (PRC). 200.0 - - Reference: The pie chart outlines segment as a share 2007 2008 2009 2010 2011 of turnover and the turnover/result chart covers all Turnover 2,003 1,914 1,465 1,740 1,708 segments. EBT represents profit before income tax EBT and any extraordinary items as per PRC accounting 1,042. 1,033. 673.6 962.4 816.3 regulation.contact@industreams.comInduStreams.com & Port-Investor.com

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12. Yantian Port Company (SZE:000088) Overview 13% Ownership: Shenzhen Yantian Port Holdings Co. is headquartered in Yantian and majority owned by Transportation Yantian Port Group (67.37%) which is a wholly owned by Shenzhen State-owned Asset Supervisory Warehouse & logistics and Administration Commission. YPH is listed on the Shenzhen Stock Exchange (stock code 000088). 87% Port activities: YPH reported a total turnover of RMB 361mn, and operating result of RMB 543mn on a total asset base of RMB 5.41bn for 2011 representing a 48.7% and 30.1% decrease from 2007 respectively or average y-o-y decline of 15.4% and 8.6%. YPH have activities both in logistics and port 800 900.0 operation. As their port holdings are all minorities 700 800.0 they are not consolidated into the turnover, but 600 700.0 represent the majority of the operating result of Million RMB 500 600.0 YPH. 500.0 400 400.0 300 Main port locations: Most of YPH activities are in 300.0 200 Yantian but YPH also have activities elsewhere in 200.0 PRC. 100 100.0 - - Reference: The pie chart outlines segment as a share 2007 2008 2009 2010 2011 of turnover and the turnover/result chart covers all Turnover 703 430 401 417 361 segments. EBT represents profit before income tax EBT 776.9 684.8 560.2 513.9 543.0 and any extraordinary items as per PRC accounting regulation.contact@industreams.comInduStreams.com & Port-Investor.com

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13. Chongqing Gangjiu Company (SSE:600279) Overview 11% Port Ownership: Chongqing Gangjiu Co. Ltd. is headquartered in Chongqing and controlled by 18% 43% Transportation Chongqing Port Logistics Group, which is wholly Trading owned by Chongqing State-owned Asset Supervision and Administration Commission (SASAC). CGC is Logistics listed on the Shanghai Stock Exchange (stock code 14% Real estate 600279). 14% Port activities: CGC reported a total turnover of RMB 1.47bn, and operating result of RMB 107.8mn on a total asset base of RMB 4.83bn for 2011 representing a 254.5% and 79.7% increase over 1,600 120.0 2007 respectively or average y-o-y growth of 37.2% and 15.8%. A majority of CGC activities are from 1,400 100.0 port and related business and a smaller part from 1,200 trading, real estate and other. For their port related Million RMB 1,000 80.0 activities CGC reported a total throughput of 800 60.0 26.2mn tons and 0.59mn TEU in 2011.. 600 40.0 400 Main port locations: All of CGC activities are in 200 20.0 Chongqing (PRC). - - 2007 2008 2009 2010 2011 Reference: The pie chart outlines segment as a Turnover share of turnover and the turnover/result chart 415 585 814 1,120 1,471 covers all segments. EBT represents profit before EBT 60.0 45.7 43.9 66.7 107.8 income tax and any extraordinary items as per PRC accounting regulation.contact@industreams.comInduStreams.com & Port-Investor.com

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14. Lianyungang Port Company (SSE:601008) Overview 7% Ownership: Jiangsu Lianyungang Port Co. is headquartered in Lianyungang and controlled by Port operation Lianyungang Port Group (48.81%), a state-owned company wholly owned by Lianyungang Municipal Port management Government. JLPC is listed on the Shanghai Stock Exchange (stock code 601008). 93% Port activities: JLPC reported a total turnover of RMB 1.5bn, and operating result of RMB 158mn on a total asset base of RMB 3.68bn for 2011 representing a 76.8% and 32.4% increase over 2007 respectively or average y-o-y growth of 1,600 180 15.3% and 7.3%. All of JLPC income stem from port 1,400 160 related activities, a minority of which is related to 1,200 140 port management related activities and JLPC Million RMB 1,000 120 reported a total throughput of 60.8mn tonnes for 100 2011. 800 80 600 60 Main port locations: All of JLPC activities are in 400 40 Lianyungang (PRC). 200 20 - - Reference: The pie chart outlines segment as a 2007 2008 2009 2010 2011 share of turnover and the turnover/result chart Turnover 848 985 989 1,219 1,500 covers all segments. EBT represents profit before EBT 120 100 94 125 158 income tax and any extraordinary items as per PRC accounting regulation.contact@industreams.comInduStreams.com & Port-Investor.com

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15. Zhuhai Port Company (SZE:000507) Overview Ownership: Zhuhai Port Co. Ltd. is headquartered in Zhuhai and part owned by Zhuhai Port Holdings Group Co. ZPC is listed on the Shenzhen Stock 46% Port service Exchange (stock code 000507). 54% Others Port activities: ZPC reported a total turnover of RMB 454mn and operating result of RMB 297.6mn on a total asset base of RMB 3.42bn for 2011 representing a 30.0% decline and 91.8% increase from 2007 respectively or average y-o-y growth of -8.5% and 17.7%. For ZPC port related activities they engage in logistics and port management 1,800 350.0 related services and are currently getting further 1,600 300.0 into terminal operation of liquid bulk and other 1,400 cargoes. 250.0 Million RMB 1,200 1,000 200.0 Main port locations: Mainly in Zhuhai but are also 800 150.0 expending to a few other locations in South China. 600 100.0 400 Reference: The pie chart outlines segment as a 200 50.0 share of turnover and the turnover/result chart - - covers all segments. EBT represents profit before 2007 2008 2009 2010 2011 income tax and any extraordinary items as per PRC Turnover 649 1,703 515 402 454 accounting regulation. The peak in 2008 was EBT 155.2 111.2 93.2 211.4 297.6 related to the sale of property.contact@industreams.comInduStreams.com & Port-Investor.com

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16. Nanjing Port Company (SZE:002040) Overview 5% Ownership: Nanjing Port Co. is headquartered in Nanjing and majority owned (63.38%) by Nanjing Port Crude oil 30% Group, which is a joint venture between Nanjing Asset 43% Chemical Supervision and Administration Commission and Product Sinotrans Yangtze Shipping Group. NPC is listed on the Shenzhen Stock Exchange (stock code 002040). Others Port activities: NPC reported a total turnover of RMB 22% 163mn, and operating result of RMB 43mn on a total asset base of RMB 959.7mn for 2011 and representing a 10.4% and 49.1% increase over 2007 respectively or average y-o-y growth of 2.5% and 10.5%. Materially all of NPC activities stem from port operation and 180 50 vast majority from the liquid bulk segments 160 45 (chemical, crude oil and petrochemical related 140 40 products), but also minority holdings in container 35 Million RMB 120 terminal facilities. For port operations NPC reported a 30 total throughput of 11.84mn tons in 2011. 100 25 80 20 60 Main port locations: The vast majority of NPC 15 40 10 activities are in Nanjing, but they also have activities 20 5 in other cities in PRC. - - 2007 2008 2009 2010 2011 Reference: The pie chart outlines segment as a share Turnover 148 134 137 150 163 of turnover and the turnover/result chart covers all segments. EBT represents profit before income tax EBT 29 14 7 30 43 and any extraordinary items as per PRC accounting regulation.contact@industreams.comInduStreams.com & Port-Investor.com

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17. Beihai Port Company (SSZ:000582) 1% Overview Ownership: Beihai Port Co. Ltd. is headquartered in 26% Beihai and controlled by Guangxi Beibu Gulf Port Port Group, which is fully owned by the Guangxi Autonomous Region State-owned Asset Supervision Trading and Administration Commission (SASAC). BPC is listed Logistics and agency on the Shenzhen Stock Exchange (stock code 000582). 73% Port activities: BPC reported a total turnover of RMB 1.02bn, and operating result of RMB 50.2mn on a total asset base of RMB 936mn for 2011 representing a 453.7% and 165.5% increase over 2007 respectively or average y-o-y growth of 53.4% and 27.6%. Whereas a majority of BPC activities in terms of 1,200 60.0 turnover are from trading activities, the majority of their operating result (more than 90%) are from port 1,000 50.0 related activities. For port related activities BPC Million RMB 800 40.0 operate dry-bulk as well as container cargo and reported total throughput of 6.2mn tons and 71k TEU 600 30.0 for 2011. 400 20.0 Main port locations: All of BPC activities are in the 200 10.0 Guangxi Province (PRC). - - 2007 2008 2009 2010 2011 Reference: The pie chart outlines segment as a share Turnover 184 198 216 405 1,019 of turnover and the turnover/result chart covers all segments. EBT represents profit before income tax EBT 18.9 18.4 44.8 44.3 50.2 and any extraordinary items as per PRC accounting regulation.contact@industreams.comInduStreams.com & Port-Investor.com

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Disclaimer This presentation is issued for information purposes only and does not constitute an agreement, offer, obligation or invitation to enter into transactions or investment business. With this presentation, INDUSTREAMS LIMITED does not act in any way as your advisor. This presentation is not intended as, nor should it be, a substitute for consulting with INDUSTREAMS LIMITED. Whilst this presentation has been produced from sources believed to be reliable, the information, views and opinions expressed in this presentation are provided as of the date of this presentation and remain subject to verification, completion and change without notice. No representation or warranty whatsoever (whether express or implied) is or will be made as to, or in relation to, the accuracy, reliability or completeness of the information contained herein or in the appendices to this presentation. Furthermore 3rd party company names, logos and similar do not constitute any representation of such companies or indication of any affiliation or contractual relationship – they are used purely for illustrative purposes. INDUSTREAMS LIMITED will not be liable towards you or any third party for any eventual damage you may incur, caused by the information contained in this presentation and its appendices.contact@industreams.comInduStreams.com & Port-Investor.com