Change control call

Issuer call at par; else 300 bts step-up upon a Change of Controll

If so provided hereon. the Perpetual Securities may be redeemed at the option 01 the Issuer in whole. but not in part, on any Distribution Payment Date for the purpose of this condition

(I) “Change of Control Event” means:

(1) Mr. Lim Hwee Chiang John. The Straits Trading Company Limited. Cheung Kong Property Limited. Warburg Pincus LLP and/or AVIC Trust. cease to

(2) any person or Persons(acting with its related corporations) (provided that Such or (and their related corporations) do

(3) the issuer consolidates with o’ merges into or sells or transfers all or substantially all of the Issuers assets to any other Person or Persons

Coupon Step Up

Coupon Step up Of 300 bps at the end of Year 10

Deferral Interest payment

Issuer Call

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