CANCELLATION OF QUALIFICATIONS FOR REGISTRATION OF SK BITUMEN PRODUCT GOT APPROVED

Updated on Jul 10,2014

CANCELLATION OF QUALIFICATIONS FOR REGISTRATION OF SK BITUMEN PRODUCT GOT APPROVED

FROM: The Shanghai Futures Exchange

TO: SK Energy Co. Ltd.

SUBJECT: Cancellation of Qualifications for Registration of SK Bitumen Product Got Approved

FILING SERIAL: SQBF [2014] No. 62

July 10, 2014

Your company’s Application for Excluding the “SK” 70＃Grade A Road Bitumen from Brand Registration has been duly received, and with respect to the Rules on Registration of Bitumen Product for Futures Delivery, we approve your cancellation of your company’s qualifications for registration of 70＃Grade A Road Bitumen (hereinafter referred to as “SK bitumen”) produced by your subsidiary company, SK Energy Ulsan Complex (SK Energy Ulsan Plant), effective from January 1, 2015. To ensure a smooth transition, the specific provisions are hereby prescribed as below:

Ⅰ. During the period from issuance of this document to December 31, 2014 (including this day), SK bitumen still can normally be loaded into warehouse for delivery.

Ⅱ. Effective from January 1, 2015, SK bitumen cannot be loaded into warehouse for generation of standard warrant. The already-generated standard warrant can still be used for futures delivery, as margin or off-exchange pledge, or for transfer, etc.

Ⅲ. As of December 31, 2015 (including this day), all the already-generated SK bitumen standard warrants shall be written off and exchanged into physicals, and no longer be eligible for futures delivery.