ASX Developments Kevin Lewis, ASX Group Executive and Chief Compliance Officer December 2014

Outline 1.Corporate Governance Principles and Recommendations 2.Guidance Note refresh 3.Timetable changes 4.Online forms 5.Reporting rules for mining and oil & gas entities 6.T+2 settlement 2

Corporate Governance Principles and Recommendations  Third edition of the ASX Corporate Governance Council’s Principles and Recommendations effective for a listed entity’s first full financial year commencing on or after 1 July 2014  Entities should be preparing now to transition to the 3rd edition and not waiting until the end of the financial year  Presentation slides and webcast on “Transitioning to the 3rd Edition” available on ASX website at: ASX | Regulation | ASX Compliance | Presentations and webinars webinars.htm 3

Guidance Note refresh 4  Recently released updates to: GN 1 Applying for Admission – ASX Listings GN 4 Foreign Entities Listing on ASX GN 12 Significant Changes to Activities GN 14 Market Announcements Platform GN 17 Waivers and In-Principle Advice GN 20 ASX Online  Consulting on new version of GN 8 Continuous Disclosure: Listing Rules B addressing selective disclosure to analysts and issues regarding analyst forecasts/consensus early next year  Will shortly be releasing updates to GN 27 Trading Policies (addressing director share trading and approval processes) GN 30 Applying for Quotation of Additional Securities (addressing simple corporate bonds)

Guidance Note refresh (cont.) 5  Will also shortly be releasing new GNs: GN 29 ASX Debt Listings GN 34 Naming Conventions for Debt and Hybrid Securities  Other GNs updated or issued over the past two years include: GN 9 Corporate Governance Disclosures GN 15 ASX Listing Fees GN 16 Trading Halts and Voluntary Suspensions GN 19 Performance Shares GN 21 Appeals GN 31 Reporting on Mining Activities GN 32 Reporting on Oil and Gas Activities GN 33 Removal of Entities from the ASX Official List  Aiming to refresh and re-issue balance of existing GNs over 2015

Timetable changes 6  Timetable for standard rights issues shortened from 26 to 19 business days  Timetable for ex–trading period on all corporate actions with an ex-date (including dividends) also shortened from 5 to 3 business days  New prescribed timetables for: standard rights issues (renounceable and non-renounceable) various types of accelerated pro rata issues – no need to apply for a timetable waiver for these issues  Change to election dates for DRPs (no earlier than the business day after the record date) – listed entities may need to review DRP terms and conditions

Online forms 7  New ASX Online forms and Listing Rule Appendices for announcing dividends, interest payments, consolidations, splits and cash capital returns went live on 22 September: Various data pre-populated and field validation for other data (eg timetable dates) – faster to complete and fewer errors More comprehensive data requirements – fewer gaps in information and fewer enquiries for listed entities to handle Automatically creates and releases PDF market announcement and then sends structured data to registries, professional investors, data vendors and custodians via ASX data feeds – faster and more accurate processing and fewer translation errors Mandatory to use online forms from 22 March 2015  Note also two new non-electronic Listing Rule Appendices for calls and in-specie capital returns to be filled in and lodged as PDFs

Reporting rules for mining and oil & gas entities 8  Some common teething issues: Table 1 – not including Table 1 when disclosing exploration results, resources or reserves or not completing Table 1 on an “if not, why not” basis. Reserves – inadequate disclosure of assumptions (especially regarding modifying factors). Production targets – not disclosing the relevant proportions of resources and reserves underpinning the target; leaving out the required cautionary statement if a proportion of the target is based on an inferred resource; inadequate disclosure of assumptions (especially regarding modifying factors). Exploration targets – leaving out the required cautionary statement or not giving it equal prominence; not disclosing the basis for the range.

Reporting rules for mining and oil & gas entities (cont.) 9 Historical estimates – leaving out the details regarding reliability and known information relevant to Table 1. Cautionary statements – still putting them as a footnote. Streamlining – not cross referencing or leaving out the “nothing has changed/assumptions apply and have not materially changed” statement.  Ore Reserves - a reminder that from 1/12/14 Cl 29 of the JORC Code will require Ore Reserves to be “defined by studies at Pre-Feasibility or Feasibility level, as appropriate, that include application of Modifying Factors.”  Note: FAQs on new Chapter 5 reporting rules for mining entities available on the Compliance Downloads page of the ASX website under ‘Reserves and Resources Reporting Requirements’

T+2 settlement 10  ASX planning to move from T+3 to T+2 settlement for cash market trades in 1Q 2016  Faster and more efficient settlement of trades  Reduces counterparty risk for investors, participants and the clearing house → a reduction in systemic risk across the whole market  Corporate action and capital raising timetables will change again to shorten the ex period by a further business day