TO: YUNNAN COPPER CO., LTD.

FILING SERIAL: SQPF [2013] NO. 28

This is an official reply to your application for “TIEFENG” copper cathode (Grade A, PCT-I) registration, as titled the Application for Registration of “TIEFENG” Copper Cathode (Permanent Cathode Technology), and relevant documents. With respect to the Regulations of Shanghai Futures Exchange on Registration of Nonferrous Metals for Futures Delivery, we approve of the registration of “TIEFENG” copper cathode (Grade A, PCT-I) upon field inspection and sampling analysis result.

Since the date of this document’s issuance, the product abovementioned will be qualified for the physical delivery against the Exchange’s copper cathode contract. Product specification is as below:

Registered company: Yunnan Copper Co., Ltd.

Refinery address: Kunming, Yunnan Province

Product: copper cathode (Grade A, PCT-I) (CU-CATH-1)

Trademark: TIEFENG

Brand Logo: (as shown in the picture)

Dimension: approx. 913*903*7mm

Piece per weight: approx. 57kg

Bundle per weight: approx. 2,500kg

Bundles per lot (25 tons/lot): 10 bundles

Packing material: Rust-resistant steel straps with the specific size (0.9×32mm) shall be applied to assemble the weight set in a double parallel-cross manner (#). The strapping shall be reliable.