Emas Batangan Dunia

INDUSTRY COLLECTION Supplement 3/2009 MITSUBISHI MATERIALS CORPORATION GOLD BAR MANUACTURER IN JAPAN Mitsubishi Materials Corporation, one of the world’s largest materials companies, has its headquarters in the Chiyoda-ku area of Tokyo. Gold refining and bar manufacture take place at the Naoshima Smelter in Kagawa, Kagawa Prefecture, about 600 km from Tokyo. The company issues a standard range of 4 cast and 3 minted bars: Cast: 400 oz, 1000 g, 500 g, 100 g Minted: 20 g, 10 g, 5 g A representative range of the company’s bars has been included in the Mitsubishi Materials Corporation, Industry Collection. established in 1990, can trace its BACKGROUND origins back to the 1870s. Mitsubishi Materials Corporation was established in 1990 through the The Naoshima Smelter has merger of Mitsubishi Metal Corporation and Mitsubishi Mining & Cement manufactured the company’s gold bars Co Ltd. since 1989. The former Mitsubishi Metal Corporation, established in 1950, had absorbed the pre-war non-ferrous mining, smelting and refining interests London Good Delivery bars have been of Mitsubishi. issued since 1981. Although the main source of its newly-mined gold output is the by- product of large copper smelting operations, the company had been involved in the mining of gold from 1870 until the Sado gold mine at Niigata was closed in 1989. Between 1893 and 1989, all gold refining took place at the company’s Osaka Refinery. In 1989, gold refining operations were transferred to the Naoshima Smelter, originally established in 1917. The company has manufacturing plants in more than 20 countries. Its businesses, apart from metals, include cement, advanced materials and tools, aluminium, electronic materials and components, energy and recycling. Annual gold refining capacity at the Naoshima Smelter is around 60 tonnes. Number of employees: 19,000 (consolidated). Accreditation 1981 London Bullion Market Association 1980 New York Mercantile Exchange, COMEX Division 1982 The Tokyo Commodity Exchange 2007 Dubai Multi Commodities Centre Website: www.mmc.co.jp/english/index.html

Mitsubishi Materials Corporation www.goldbarsworldwide.com TECHNICAL DESCRIPTION Pouring gold. Weight Type Fineness Shape Dimensions First Kilobars have been manufactured mm Made since 1976. 400 oz Cast 999.9 Rectangular 1976 245 x 80 x 40 1000 g Cast 999.9 Rectangular 235 x 70 (base) 1976 500 g Cast 999.9 rectangular 1976 100 g Cast 999.9 Rectangular 117 x 52 x 9 1976 86 x 38 x 8.5 45 x 25 x 5 20 g Minted 999.9 Rectangular 31.3 x 18.3 x 2 1980 10 g Minted 999.9 Rectangular 25.5 x 15.5 x 1.5 1980 5g Minted 999.9 Rectangular 1980 23 x 14 x 1 Source: Mitsubishi Materials Corporation HISTORY OF GOLD BAR MANUFACTURE Although the gold mining operations of Mistubishi Materials Corporation date back to 1873, all gold was sold in monme-denominated bars suitable for industrial purposes, the earliest known cast bar recorded as having been made in 1917. In 1976, 4 cast bars were issued: 400 oz, 1000 g, 500 g and 100 g. In 1980, 3 minted bars were issued: 20 g, 10 g and 5 g. From 1991 until 2005, two smaller minted bars, now historical, were issued: 3 g and 1 g. The company is renowned for its manufacture of Fine Gold Cards with decorative designs. Current weights in 999.9 fineness range from 1 g to 20 g. They were first issued in 1988. The company offers a Gold Stamping kilobars. Accumulation Plan to enable purchases 2 of gold in monthly installments of Yen 3,000 or more. Since the 1980s, the “My Gold Plan” has attracted more than 400,000 members.

Mitsubishi Materials Corporation www.goldbarsworldwide.com EXAMPLES OF GOLD BARS 1000 g 500 g 100 g 10 g OFFICIAL STAMP CERTIFICATION MARK On all bars issued by Mitsubishi On all bars issued or manufactured Materials Corporation since by Mitsubishi Materials Corporation 1976. since 1976. 3

Mitsubishi Materials Corporation www.goldbarsworldwide.com Mitsubishi Materials Corporation has its international headquarters in the Chiyoda-ku area of Tokyo. The company is renowned for having pioneered the development of decorative Fine Gold Cards in the late 1980s. The cards range in weight from 0.39 g up to 20 g. Fineness: 999.9. THE INDUSTRY COLLECTION OF GOLD BARS WORLDWIDE The Industry Collection of Gold Bars Worldwide is a worldwide effort to create a unique collection of standard, innovative and unusual gold bars to support the promotion of gold. Since 1993, manufacturers from across the globe have supported this international project by making their bars available. Founder was N M Rothschild & Sons (Australia) Limited, associated with N M Rothschild & Sons Limited, London. Custodian and Official Location is The Perth Mint, wholly owned by the Government of Western Australia. Curator is Grendon International Research Pty Ltd (GIR). Apart from acting as a consultant within the gold industry, GIR has published several reference books on gold, including The Industry Catalogue of Gold Bars Worldwide. Refer to disclaimer on website: www.goldbarsworldwide.com © Grendon International Research Pty Ltd 2009. All rights reserved. 4

JAPAN MINT GOLD BARS MANUFACTURER OF LONDON GOOD DELIVERY Supplement 400 OZ GOLD BARS SINCE 2008 12/2008 The Japan Mint has its headquarters and gold refinery on the bank of the The Japan Mint was established in Okawa river in the city of Osaka, about 400 km west of Tokyo. Osaka in 1871. Apart from issuing new 400 oz gold bars with different dimensions in 2008 Manufacturing London Good Delivery following its accreditation to the London Bullion Market Association (LGD) 400 oz bars. (LBMA) in December 2007, it also issues a range of 5 small cast bars: 1000 g, 500 g, 300 g, 200 g, 100 g. The Mint has issued LGD bars for the international market since 2008. The small bars are produced in limited quantities in order to return the gold content of old gold scrap that has been refined at the request of public and private entities in Japan. BACKGROUND The Japan Mint, formally established in Osaka as the national mint of Japan in 1871, is supported by sub-branches in Tokyo (since 1943) and Hiroshima (since 1945). Although owned by the national government of Japan, it has been an independent organization since 2003. It had previously operated as the Mint Bureau of the Ministry of Finance. Historically, the Mint manufactured gold bars weighing approximately 500 oz (15.5 kg) between 1875 and 1988, replaced by an earlier version of 400 oz bars that was produced between 1989 and 2007. It is not known precisely when the small bars, 1000 g – 100 g, were first issued, but the Mint’s archives indicate their manufacture started after 1967. Within the gold industry, the Mint is world-renowned for having minted 11 million gold coins (220 tonnes), each with a face value of Yen 100,000, to commemorate the 60th anniversary of the reign of the Emperor Hirohito in 1986. The gold refinery, which incorporated a new furnace in 1997, relies mainly on mine doré and gold scrap in the form of old medals and coins. Its refining process includes electrolysis. Current annual gold refining capacity: 15 tonnes. Apart from gold bars, the Mint produces 33 kg silver bars, as well as around 1.2 billion circulation and precious metal coins annually. As an independent organization, it now also manufactures coins for other countries. Number of employees: 1,050 Website: www.mint.go.jp

Japan Mint www.goldbarsworldwide.com TECHNICAL DESCRIPTION – CURRENT BARS Weight Type Fineness Shape Dimensions First Serial Year 400 oz Cast 999.9 Rectangular (mm) Issued Number System System Introduced 245 x 78 x 40 2008 8 numbers 223 x 60 (base) 2008 1000 g Cast 999.9 Rectangular 92 x 40 x 12 1967 1 – 4 numbers 1967 500 g Cast 999.9 Rectangular 62 x 27 x 15 1967 1 – 4 numbers 1967 300 g Cast 999.9 Rectangular 1967 1 – 4 numbers 1967 200 g Cast 999.9 Rectangular 60 x 25 x 9 1967 1 – 4 numbers 1967 100 g Cast 999.9 Rectangular 56 x 25 x 6 1967 1 – 4 numbers 1967 46 x 25 x 3 Source: Japan Mint Serial Numbering Systems 400 oz: The 8 numbers incorporate the year date. For example, “20080151” indicates that the bar was manufactured in 2008. 1000 g – 100 g: Apart from a serial number (1-4 numbers), the bars also include two numbers that record the year date. For example, “98” indicates that the bar was manufactured in 1998. TECHNICAL DESCRIPTION – HISTORICAL BARS Weight Type Fineness Shape Dimensions First Last Serial Number 400 oz Cast 999.9 Rectangular (mm) Issued Issued System 500 oz Cast 996+ Rectangular 1989 2007 173 x 75 x 44 1 – 4 numbers 185 x 87 (base) 1875 1988 1 – 4 numbers 170 x 70 x 60 175 x 80 (base) Source: Japan Mint HISTORICAL 500 OZ BAR The Mint manufactured 500 oz (15.5 kg) gold bars between 1875 and 1988. 2

Japan Mint www.goldbarsworldwide.com GOLD BARS London Good Delivery 400 oz gold bar. The small bars, 1000 g – 100 g, are used only to return old gold scrap that has been refined at the request of public and private entities in Japan. The official stamp that has been applied to the Mint’s gold bars since 1875. 3

Japan Mint www.goldbarsworldwide.com Pouring and refining gold at the Japan Mint. Kilobars. 4

Japan Mint www.goldbarsworldwide.com IMPERIAL GOLD COINS Obverse Reverse The Mint is world-renowned for having minted 11 million gold coins (220 tonnes) to commemorate the 60th anniversary of the Emperor Hirohito’s reign in December 1986. The 20 g coins have a fineness of 999.9 and a face value of Yen 100,000. The Coining Factory in Osaka. The Japan Mint produces 1.2 billion circulation and precious metal coins annually. The Mint Museum, established in 1969, attracts 50,000 visitors annually. It includes gold coins and bars manufactured in Japan since the 1600s. Refer to disclaimer on website: www.goldbarsworldwide.com © Grendon International Research Pty Ltd 2008. All rights reserved. 5

INDUSTRY COLLECTION Supplement 1/2009 SUMITOMO METAL MINING CO LTD GOLD BAR MANUACTURER IN JAPAN Sumitomo Metal Mining Co Ltd, which operates the largest gold mine in Japan at Hishikari in the Kagoshima Prefecture, has its headquarters in the Minato-ku area of Tokyo. Gold refining and bar manufacture take place at the Toyo Smelter & Refinery in the Ehime Prefecture, about 500 km west of Tokyo. The company issues a standard range of 4 cast and 3 minted bars: Cast: 400 oz, 1000 g, 500 g, 100 g Sumitomo Metal Mining Co Ltd, Minted: 20 g, 10 g, 5 g incorporated in 1950, has been associated with the smelting of metals A representative range of the company’s bars has been included in the Industry Collection. since 1590. BACKGROUND The Toyo Smelter & Refinery has manufactured the company’s gold bars Sumitomo Metal Mining Co Ltd, incorporated in 1950, traces its history back to 1590 when Soga Riemon, the founder of Sumitomo enterprises, since 2004. established a copper smelting and manufacturing business in Kyoto. London Good Delivery 400 oz bars Although producing gold as a by-product of non-ferrous smelting have been issued since 1981. operations for centuries, the company has been associated with some of Japan’s largest gold mines. The Kounomai gold mine in the Hokkaido Prefecture yielded 73 tonnes from 1920 until its closure in 1973. The Hishikari gold mine, about 1,000 km west of Tokyo, is renowned as the largest gold mine in Japan, having yielded more than 165 tonnes since its opening in 1985. The company has refined gold for more than 85 years in the Ehime Prefecture: at the Niihama Refinery from 1922 until 2004, and at the Toyo Smelter & Refinery since 2004. Apart from the mining or processing of gold and non-ferrous metals in Japan, USA and Peru, its operations worldwide include the manufacture of fabricated precious and other metal products, as well as a diverse range of advanced materials. The company is listed on the Tokyo and Osaka stock exchanges. Annual gold refining capacity at the Toyo Smelter & Refinery: around 60 tonnes. Number of employees: 2,131 (independent), 9,786 (consolidated). Accreditation 1981 London Bullion Market Association 1982 Tokyo Commodity Exchange 2006 Dubai Multi Commodities Centre Website: www.smm.co.jp/E/

Sumitomo Metal Mining Co Ltd www.goldbarsworldwide.com TECHNICAL DESCRIPTION Kilobars have been manufactured since 1982. Weight Type Fineness Shape Dimensions First (mm) Issued OFFICIAL STAMP 400 oz Cast 999.9 Rectangular 250 x 75 x 38 2007 On all bars issued since 1922. 1000 g Cast 999.9 Rectangular 230 x 60 (base) 1982 500 g Cast 999.9 Rectangular 1982 CERTIFICATION MARK 100 g Cast 999.9 Rectangular 115 x 51 x 9 1982 83 x 38 x 8 On 1000 g, 500 g and 100 g cast bars, since 1982. 45 x 24 x 5.5 “SAO” stands for 20 g Minted 999.9 Rectangular 30 x 17 x 2 1987 “Sumitomo Assay Office”. 10 g Minted 999.9 Rectangular 26 x 15 x 1.3 1987 5g Minted 999.9 Rectangular 22.5 x 14 x 0.9 1987 REVERSE DESIGN Source: Sumitomo Metal Mining Co Ltd. Note: gold granules have also been produced at a fineness of 999.99 since 2004. HISTORY OF GOLD BAR MANUFACTURE The manufacture of bars denominated in monmes (1 monme = 3.75 g) dates back to 1922 when gold refining facilities were established at the Niihama Refinery. In 1927, the metric system was adopted and for the next 25 years bars weighing approximately 15 kg were supplied to the national Mint. In 1953, a new range of cast bars was introduced: approximately 10 kg, 5 kg and 1 kg, followed in 1962 by an unusual 7 kg cast bar with a gold purity of 999.99, which was subsequently withdrawn. In 1980, 400 oz bars were issued, followed in 1982 by 3 cast bars with exact weights: 1000 g, 500 g and 100 g. In 1987, 3 minted bars were introduced: 20 g, 10 g and 5 g. In 2007, the 400 oz bar was issued with new dimensions. Historically, its dimensions had been in mm: 177 x 77 (top surface), 182 x 85 (base surface), 40 (thickness). The same official stamp has been applied to all bars since 1922. The stylish “SMM” (Sumitomo Metal Mining) logo has been stamped on the reverse sides of minted bars since 1982. HISTORICAL 400 OZ BAR The original shape of 400 oz bars manufactured by Sumitomo On 20 g, 10 g and 5 g minted bars, Metal Mining Co Ltd between 1980 and 2007. since 1982. 2

Sumitomo Metal Mining Co Ltd www.goldbarsworldwide.com EXAMPLES OF GOLD BARS 10 g 1000 g 500 g 100 g Sumitomo Metal Mining Co Ltd issued the new shape of its London Good Delivery 400 oz gold bar in 2007. 3

Sumitomo Metal Mining Co Ltd www.goldbarsworldwide.com The Hishikari gold mine, the largest in Japan, has yielded more than 165 tonnes since its opening in 1985. Mineralisation of the ore occurred about a million years ago. Illustrating the historical “Nanban-buki” method of smelting that was developed by Soga Riemon, one of the founders of Sumitomo in the 16th century. THE INDUSTRY COLLECTION OF GOLD BARS WORLDWIDE The Industry Collection of Gold Bars Worldwide is the culmination of a worldwide effort to create a unique collection of standard, innovative and unusual gold bars to support the promotion of gold. Since 1993, manufacturers from across the globe have supported this international project by making their bars available. Founder was N M Rothschild & Sons (Australia) Limited, associated with N M Rothschild & Sons Limited, London. Custodian and Official Location is The Perth Mint, wholly owned by the Government of Western Australia. Curator is Grendon International Research Pty Ltd (GIR). Apart from acting as a consultant within the gold industry, GIR has published several reference books on gold, including The Industry Catalogue of Gold Bars Worldwide. Refer to disclaimer on website: www.goldbarsworldwide.com © Grendon International Research Pty Ltd 2009. All rights reserved. 4

INDUSTRY COLLECTION Supplement 11/2009 NIPPON MINING & METALS CO LTD GOLD BAR MANUFACTURER IN JAPAN Nippon Mining & Metals Co Ltd, which produces gold mainly as a Nippon Mining & Metals Co Ltd, by-product of copper smelting, has its headquarters in the Minato-ku area incorporated in 1929, refines gold at the of Tokyo. Saganoseki Refinery. Gold refining and bar manufacture take place at the Saganoseki Refinery Most gold is refined as a by-product of in the Oita Prefecture, about 1,000 km west of Tokyo. copper smelting. The company issues a standard range of 4 cast bars: 400 oz, 10 kg, 1000 g, 500 g Gold refining was transferred from the Hitachi Refinery to the Saganoseki While most of the smaller bars are sold in Japan, its London Good Refinery in 1997. Delivery 400 oz bars are traded internationally. The company has manufactured A representative range of Nippon Mining bars is included in the Industry London Good Delivery 400 oz bars Collection. since 1981. BACKGROUND Nippon Mining & Metals Co Ltd, incorporated in 1929, was founded in 1905 when the Hitachi copper mine was opened in the Ibaraki Prefecture, about 150 km north of Tokyo. The refining of gold as a by-product of copper smelting dates back to the establishment of the Hitachi Refinery in 1908 and the Saganoseki Refinery in 1916. For 16 years from 1981, the Hitachi Refinery became solely responsible for the company’s gold refining and bar manufacture, until these operations were transferred to a new facility at the Saganoseki Refinery in 1997. Since 2000, the sale of the company’s gold bars has been undertaken jointly with Mitsui Mining & Smelting Co Ltd following the establishment of Pan Pacific Copper Co Ltd (PPCU), which is owned by Nippon Mining (66%) and Mitsui Mining (34%). Nippon Mining & Metals Co Ltd operations include the mining and smelting of non-ferrous metals and the manufacture of chemicals, materials and products, notably for the electronics industry. It operates internationally through more than 30 subsidiary and affiliated companies that are located in Japan, Chile, China, Germany, Hong Kong, Malaysia, Singapore, South Korea, Taiwan and the USA. Since 1999, the company has been closely associated with LS-Nikko Copper Inc, a major copper smelter in South Korea, which also produces London Good Delivery 400 oz gold bars. Annual gold refining capacity at the Saganoseki Refinery is around 42 tonnes. Number of employees: 2,070 (total company).

Nippon Mining & Metals Co Ltd www.goldbarsworldwide.com Accreditation OFFICIAL STAMP 2000* London Bullion Market Association 1982 The Tokyo Commodity Exchange On bars issued since at least 1981. * Accreditation in 2000 relates to the Saganoseki Refinery. The Hitachi refinery had been accredited in 1981. Websites: Nippon Mining & Metals Co Ltd: www.nikko-metal.co.jp Pan Pacific Copper Co Ltd: www.ppcu.co.jp TECHNICAL DESCRIPTION Weight Type Fineness Shape Dimensions First Serial Number System 400 oz Cast mm Made System Introduced 999.9 Rectangular 1988 230 x 85 x 38 Letter 1988 216 x 72 (base) 1988 Plus 4 numbers 1988 Plus year date 1988 10 kg Cast 999.9 Rectangular 182 x 87 x 35.5 1988 Letter 1988 1000 g Cast 999.9 Rectangular 172 x 80.7 (base) Plus 4 numbers 1988 500 g Cast 999.9 Rectangular Letter 116 x 60 x 8 Plus 4 numbers 116 x 60 (base) Letter 89 x 40.6 x 7.2 Plus 4 numbers Source: Nippon Mining & Metals Co Ltd HISTORY OF GOLD BAR MANUFACTURE The letters “NSS”, which stand for the Although gold bar manufacture dates back to the establishment of the Saganoseki Refinery, have been applied Hitachi Refinery in 1908, historical information is limited. to cast bars since 1997. 400 oz bars have been manufactured since at least 1981, when the Hitachi Refinery was accredited to the London Gold Market. Apart from the current range of 4 cast bars manufactured in their current dimensions since 1988, an extensive range of other bars were also produced between 1988 and 1997. Historical bar weights over this period: 5 kg, 3 kg, 2 kg, 400 g and 100 g (cast bars) and 50 g, 10 g and 5 g (minted bars). Although the company’s circular symbol has been stamped on all bars since at least 1981, the stamping on most cast bars of the letters “HM” (indicating the Hitachi Refinery as the manufacturer) was discontinued in 1997, when bar manufacture was transferred to the Saganoseki Refinery. Casting room. 2

Nippon Mining & Metals Co Ltd www.goldbarsworldwide.com EXAMPLES OF GOLD BARS 1000 g 500 g THE INDUSTRY COLLECTION OF GOLD BARS WORLDWIDE The Industry Collection of Gold Bars Worldwide is a worldwide project to create a unique collection of standard, innovative and unusual gold bars to support the promotion of gold. Since 1993, manufacturers from across the globe have supported this international project by making their bars available. Founder was N M Rothschild & Sons (Australia) Limited, associated with N M Rothschild & Sons Limited, London. Custodian and Official Location is The Perth Mint, wholly owned by the Government of Western Australia. Curator is Grendon International Research Pty Ltd (GIR). Apart from acting as a consultant within the gold industry, GIR has published several reference books on gold, including The Industry Catalogue of Gold Bars Worldwide. Refer to disclaimer on website: www.goldbarsworldwide.com © Grendon International Research Pty Ltd 2009. All rights reserved. 3

INDUSTRY COLLECTION Supplement 4/2010 MITSUI MINING & SMELTING CO LTD GOLD BAR MANUFACTURER IN JAPAN Mitsui Mining & Smelting Co Ltd, which produces gold mainly as a Mitsui Mining & Smelting Co Ltd, by-product of copper smelting, has its headquarters in the Shinagawa-ku incorporated in 1950, traces its origins area of Tokyo. back to 1874. Gold refining and bar manufacture take place at the Takehara Refinery in the Hiroshima Prefecture, about 500 km west of Tokyo. The Takehara Refinery has refined gold since its establishment in 1943. The company issues a standard range of 5 bars: The company has issued London Good Cast: 400 oz, 10 kg, 1000 g, 500 g Delivery 400 oz bars since 1982. Minted: 100 g While most bars are sold in Japan, its London Good Delivery 400 oz bars are traded internationally. A representative range of Mitsui Mining bars has been included in the Industry Collection. BACKGROUND Mitsui Mining & Smelting Co Ltd, incorporated in 1950, is a major smelter of copper, lead and zinc. It also manufactures chemicals, materials and products, notably for the electronics, environmental and automotive industries. Its history in non-ferrous metals dates back to the start of mining operations by its predecessor, Mitsui Gumi, in 1874. The Takehara Refinery has acted as the company’s gold refinery since its establishment in 1943. Since 2000, the sale of the company’s gold bars has been undertaken jointly with Mitsui Mining & Smelting Co Ltd following the establishment of Pan Pacific Copper Co Ltd (PPCU), which is owned by Nippon Mining (66%) and Mitsui Mining (34%). Mitsui Mining & Smelting Co Ltd operates internationally through more than 40 subsidiary and affiliated companies that are located in Japan, China, Hong Kong, India, Malaysia, Peru, South Korea, Taiwan and the USA. Annual gold refining capacity at the Takehara Refinery is around 22 tonnes. Number of employees: 2,200 (total company). Accreditation 1981 London Bullion Market Association 1982 Tokyo Commodity Exchange Websites: Mitsui Mining & Smelting Co Ltd: www.mitsui-kinzoku.co.jp Pan Pacific Copper Co Ltd: www.ppcu.co.jp

Mitsui Mining & Smelting Co Ltd www.goldbarsworldwide.com TECHNICAL DESCRIPTION Weight Type Fineness Shape Dimensions First Serial Number System mm Made System Introduced 400 oz Cast 999.9 Rectangular 2007 255 x 77.5 x 35 6 numbers 1982 10 kg* Cast 999.9 Rectangular 240 x 60 (base) 1960 Plus year date 2007 1000 g Cast 999.9 Rectangular 1982 n.a. n.a. 500 g Cast 999.9 Rectangular 80 x 55 x 48 1982 7 numbers 1982 117 x 52 x 9 7 numbers 1982 1982 86 x 42 x 8 100 g Minted 999.9 Rectangular 47.5 x 27.5 x 4.3 7 numbers 1982 Source: Mitsui Mining & Smelting Co Ltd. * Approximate weight. HISTORY OF GOLD BAR MANUFACTURE Refining gold at the Takehara Refinery, The company’s gold bars were originally denominated in monmes located in the Hiroshima Prefecture. (1 monme = 3.75 g) until 1952, when a 5 kg cast bar was introduced, followed by a 10 kg bar in 1960. The 5 kg bar was discontinued in 1981. In 1982, three new cast bars were introduced: 400 oz, 1000 g and 500 g. In the same year, the 100 g and 50 g minted bars were launched. In 1998, the 50 g minted bar was discontinued. In 2007, the dimensions of the 400 oz bar were changed to conform with LBMA requirements. The dimensions of the historical 400 oz bar in mm: 169 x 71 (top), 186 x 67 (base), 50 (thickness). The official stamp has retained the same symbol since 1943, the current version of the symbol used since 1982. EXAMPLES OF GOLD BARS OFFICIAL STAMP 1000 g 500 g On bars issued since 1982. CERTIFICATION MARK On small bars, 1000 g and less, since 1982. 2

Mitsui Mining & Smelting Co Ltd www.goldbarsworldwide.com 400 oz 10 kg Not actual size The dimensions of the London Good Delivery 400 oz bar were modified in 2007. THE INDUSTRY COLLECTION OF GOLD BARS WORLDWIDE The Industry Collection of Gold Bars Worldwide is a worldwide effort to create a unique collection of standard, innovative and unusual gold bars to support the promotion of gold. Since 1993, manufacturers from across the globe have supported this international project by making their bars available. The Founder was N.M. Rothschild & Sons (Australia) Limited, associated with N M Rothschild & Sons Limited, London. The Custodian and Official Location is The Perth Mint, wholly owned by the Government of Western Australia. The Curator is Grendon International Research Pty Ltd (GIR). Apart from acting as a consultant within the gold industry, GIR has published several reference books on gold, including The Industry Catalogue of Gold Bars Worldwide. Refer to disclaimer on website: www.goldbarsworldwide.com © Grendon International Research Pty Ltd 2010. All rights reserved. 3

INDUSTRY COLLECTION Supplement 4/2011 PT ANEKA TAMBANG (PERSERO) TBK LOGAM MULIA PRECIOUS METAL REFINERY JAKARTA, INDONESIA PT Aneka Tambang (Persero) Tbk, a leading mining and minerals The Logam Mulia Precious Metal processing company in Indonesia, owns the Logam Mulia Precious Refinery has refined gold in Jakarta Metal Refinery, Indonesia’s only major gold refiner and bar manufacturer. since 1937. The refinery, located in east Jakarta, issues London Good Delivery 400 oz bars and 12 smaller cast and minted bars that are branded with the Logam Mulia has manufactured London official stamp of Logam Mulia: Good Delivery 400 oz bars since 1999. Cast: 400 oz, 1000 g, 250 g Logam Mulia has manufactured kilobars Minted: 100 g, 50 g, 25 g, 10 g, 5 g, 4 g, 3 g, 2.5 g, 2 g, 1 g for the international market since 1992. The bars are traded within Indonesia, as well as internationally, notably kilobars that are exported mainly to South East Asia, Europe and Australia. Indonesia, an archipelago of 17,508 islands that straddles the equator in South East Asia, has a population of 245 million, the 4th largest after China, India and the USA. Religious affiliations: Muslim (86%), Christian (9%) and Hindu (2%). Jakarta (9 million), on the island of Java, is the capital city. According to GFMS Limited (London), Indonesia was the 8th largest gold producing country in 2009, having generated 157.5 tonnes of fine gold, mainly as a by-product of copper mining. ACCREDITATION 1999 London Bullion Market Association (LBMA) 2005 Dubai Multi Commodities Centre (DMCC) In 2000, Logam Mulia’s Assay Laboratory was accredited to ISO Guide 17025 by the National Accreditation Committee. BACKGROUND PT Aneka Tambang (Persero) Tbk (commonly known as Antam) was established in 1968 through the merger of several mining-based commodity companies. It focuses on the mining and processing of nickel, gold and bauxite. The company has operated nickel mines in Southeast Sulawesi (since 1934) and North Maluku (since 1978), and gold mines in West Java: at Pongkor (since 1994) and at Cibaliung in Banten (since 2009). The mining of bauxite, which previously relied on operations in Bintan Island (1968 – 2009), is now in development in Kalimantan. The company, incorporated in 1975, has been listed on the Indonesian Stock Exchange (since 1997) and on the Australian Stock Exchange (since 1999). Shares: Indonesian Government (65%), public (35%).

Logam Mulia Precious Metal Refinery www.goldbarsworldwide.com The Logam Mulia Precious Metal Refinery, founded in Jakarta in 1930 by a Belgian gold merchant, Rudolf Theodoor Braakensiek, has refined gold and silver since 1937. In 1949, this private enterprise became a legal entity called NV Essaieur en Affinage Bedrijf v/h RT Braakensiek. In 1957, when the company was taken over by Bank Industri Negara, it PT Aneka Tambang (Persero) Tbk has changed its name to PT Logam Mulia. its headquarters in central Jakarta. In 1961, it became a government-owned company, subsequently incorporated as a business unit of PT Aneka Tambang (Persero) Tbk in 1968. In 1979, it was relocated from central Jakarta to a large two-hectare site in east Jakarta. The refinery accepts gold-bearing materials (mine doré, semi-refined bullion and scrap) for refining to specified purities up to 999.9. Gold refining methods include pyrometallurgical chlorination (since 1997), electrolysis and electric furnace smelting. The refinery normally generates around 30 tonnes of fine gold each year. Its annual refining capacity is approximately 75 tonnes. In addition to gold (and silver) refining and bar manufacture, the refinery Antam has mined gold at its Pongkor produces granules, customized bars, coins, medals, pendants and rings, mine in West Java since 1994. as well as a range of raw material products for the jewellery industry. Number of employees: 200 (Logam Mulia refinery), 2,000 (Antam). Websites: www.logammulia.com (precious metals refinery) www.antam.com TECHNICAL DESCRIPTION Weight Type Fineness Shape Dimensions Year First Example of mm Made in Serial Current 400 oz* Cast 999.9 Rectangular 238 x 78 x 42 Numbering 217 x 58 (base) Dimensions System 1000 g Cast 999.9 Rectangular 118.2 x 54.5 x 9.0 2010 AA 0001 250 g Cast 999.9 Rectangular 58.0 x 31.3 x 8.0 2005 TF 077 2005 GU 6101 100 g Minted 999.9 Rectangular 50 x 30 x 3.65 2005 Q 069 50 g Minted 999.9 Rectangular 42.5 x 25.5 x 2.53 2005 S 043 25 g Minted 999.9 Rectangular 2005 T 042 10 g Minted 999.9 Rectangular 33.3 x 20 x 2.07 2005 B 087 5g Minted 999.9 Rectangular 27.5 x 16.5 x 1.22 2005 X 048 4g Minted 999.9 Rectangular 2011 - 3g Minted 999.9 Rectangular 20 x 12.3 x 1.09 2005 - 2.5 g Minted 999.9 Rectangular 20 x 12.3 x 0.83 2005 - 2g Minted 999.9 Rectangular 16.7 x 10 x 1.03 2005 - 1g Minted 999.9 Rectangular 16.7 x 10 x 0.83 2005 - 15.6 x 9.4 x 0.75 13 x 7.8 x 0.51 Source: Logam Mulia Precious Metal Refinery. * 400 oz bar dimensions from 1999 until 2010 were: 200 x 83 x 43 mm, base 195 x 75 mm. The same serial numbering system has been applied to small cast bars and minted bars (since 1981) and 400 oz bars (since 1999). 2

Logam Mulia Precious Metal Refinery www.goldbarsworldwide.com The refinery also manufactures an extensive range of customized cast The manufacture of kilobars is being and minted bars for banks and other clients. automated during 2011. It has an in-house design workshop and has manufactured its own OFFICIAL STAMP master tools and dies since 1997. On all bars manufactured by Logam HISTORY OF GOLD BAR MANUFACTURE Mulia since 1957. A Logam Mulia official stamp has been applied to the refinery’s standard bars since 1957. Previously, bars had been marked with an official stamp CERTIFICATION MARKS bearing the name of R.T. Braakensiek, the refinery’s founder. On 400 oz bars since 1999. Cast Bars In addition to bars with irregular weights, 100 g cast bars are believed to On the reverse side of kilobars and have been first issued in 1957, followed by 50 g and 25 g bars in 1981, other small cast bars since 1994. 1000 g bars in 1992 and 400 oz bars in 1999. In 2005, when 100 g, 50 g and 25 g cast bars ceased to be issued, a new 250 g cast bar was introduced. In 2010, the dimensions of the 400 oz bar were changed, and a year date was recorded on each bar, to meet the new requirements for London Good Delivery bars. Minted Bars Since 1981, when minted bars were first manufactured, the refinery has revised its range several times: 1981 3 rectangular bars (vertical format) issued: 10 g, 5 g, 2 g. 1994Est Replaced by 5 round bars: 10 g, 5 g, 2.5 g, 2 g, 1 g 2005 Replaced by 9 rectangular bars (horizontal format): 100 g, 50 g, 25 g, 10 g, 5 g, 3 g, 2.5 g, 2 g, 1 g 2011 The 9 rectangular bars were reissued in the same dimensions, but with a vertical format and laser watermark on the obverse sides. A new 4 g bar was also issued. Source: Logam Mulia Precious Metal Refinery The reissue of the bars with a vertical format and laser watermark in 2011 was done to improve their quality and security. HISTORICAL CERTIFICATION MARK On the reverse side of small cast bars from an unknown date until 1994. On the reverse side of minted bars from 1981Est until 2005. 3

Logam Mulia Precious Metal Refinery www.goldbarsworldwide.com CAST GOLD BARS 1000 g 250 g The dimensions of the London Good Delivery 400 oz bar were modified in 2010. 4

Logam Mulia Precious Metal Refinery www.goldbarsworldwide.com MINTED GOLD BARS Obverse Reverse 100 g 1 g – 100 g Logam Mulia reissued its range of minted bars with a vertical format in 2011. Logam Mulia produces its own master tools and dies for the stamping of bars. 5

Logam Mulia Precious Metal Refinery www.goldbarsworldwide.com CUSTOMIZED GOLD BARS AND MEDALS Logam Mulia manufactures customized bars and medals for banks and other clients. LOGAM MULIA STATISTICS GOLD REFINING Refined gold output - Tonnes Category 2006 2007 2008 2009 2010 Mining 14.2 18.1 19.1 16.1 20.5 Scrap 11.8 12.9 12.6 11.0 10.8 Total 26.0 30.0 31.7 27.1 31.3 In recent years, Logam Mulia has refined around 30 tonnes each year. MINTED GOLD BAR PRODUCTION Tonnes Category 2006 2007 2008 2009 2010 Logam Mulia sold gold bars to approximately Orders 1.4 2.3 14.2 4.8 13.9 10,000 private investors at its on-site shop Sales 1.4 2.3 1.4 Total 2.8 4.6 3.1 6.2 2.0 in 2010. 17.3 15.9 6 Many minted bars are ordered and distributed through jewellery shops. The most popular bars: 100 g, 25 g and 10 g.

Logam Mulia Precious Metal Refinery www.goldbarsworldwide.com Logam Mulia manufactures an extensive range of gold jewellery, including chains, pendants and rings. Historical gold bar marked with the name of R.T. Braakensiek, the founder of the Logam Mulia Precious Metal Refinery. The bar (499.8 g) was manufactured sometime between 1937 and 1957. This supplement is indebted to the support of PT Aneka Tambang (Persero) Tbk Logam Mulia Precious Metal Refinery World Gold Council Indonesia Goldsmiths & Jewellers Association Indonesia Jewellery Manufacturers Association THE INDUSTRY COLLECTION OF GOLD BARS WORLDWIDE The Industry Collection of Gold Bars Worldwide is a worldwide effort to create a unique collection of standard, innovative and unusual gold bars to support the promotion of gold. Since 1993, manufacturers from across the globe have supported this international project by making their bars available. The Founder was N.M. Rothschild & Sons (Australia) Limited, associated with N.M. Rothschild & Sons Limited, London. The Custodian and Official Location is The Perth Mint, wholly owned by the Government of Western Australia. The Curator is Grendon International Research Pty Ltd (GIR). Apart from acting as a consultant within the gold industry, GIR has published several reference books on gold, including The Industry Catalogue of Gold Bars Worldwide. Refer to disclaimer on website: www.goldbarsworldwide.com © Grendon International Research Pty Ltd 2011. All rights reserved. 7

INDUSTRY COLLECTION Supplement 9/2008 ROYAL CANADIAN MINT MINTED TROY OUNCE GOLD INVESTMENT BARS The Royal Canadian Mint is the only accredited gold refiner in North America to manufacture minted gold investment bars. It issues a range of three bars in troy ounce weights: 10 oz, 5 oz and 1 oz. The gold purity is 99.99%. The 1 oz was launched in 2001, the 5 oz and 10 oz in 2003. Designed for the international market, most are bought by US investors. The 10 oz minted gold bar was launched in 2003. BACKGROUND The Royal Canadian Mint is located The Royal Canadian Mint (RCM) is a Crown Corporation, wholly owned by in Ottawa, the capital of Canada. the Federal Government of Canada. Located in Ottawa, it was originally established as the Ottawa Branch of The Royal Mint, which opened in 1908. Apart from minted bars, the RCM has manufactured London Good Delivery 400 oz bars since 1919 (est), 100 oz bars since 1981 (est), and kilobars since 1984 (est). The RCM is world renowned for the success of its Maple Leaf gold bullion coins, which range from 1 oz to 1/20 oz. Launched in 1979, more than 30 million have been sold worldwide. Accreditation 1919* London Bullion Market Association 1974 New York Mercantile Exchange, COMEX Division 1988 The Tokyo Commodity Exchange 2007 Dubai Multi Commodities Centre * Estimated TECHNICAL DESCRIPTION Weight Type Fineness Shape Dimensions First mm Issued 10 oz Minted 999.9 Rectangular 2003 5 oz Minted 999.9 Rectangular 60 x 35 x 8 2003 1 oz Minted 999.9 Rectangular 50 x 25 x 7 2001 50 x 28 x 1.5 Source: Royal Canadian Mint. Note: The Industry Collection includes a RCM 1000 g bar. The minted bars have still to be included. The Mint has manufactured London Good Delivery 400 oz bars since 1919 est.

Royal Canadian Mint www.goldbarsworldwide.com MINTED GOLD BARS 10 oz 5 oz 1 oz The Mint has manufactured gold The Mint has minted legal tender kilobars since 1984. gold coins since 1908. The photographs in this supplement were provided by the Royal Canadian Mint. Website: www.mint.ca THE INDUSTRY COLLECTION OF GOLD BARS WORLDWIDE The Industry Collection of Gold Bars Worldwide is the culmination of a worldwide effort to create a unique collection of standard, innovative and unusual gold bars to support the promotion of gold. Since 1993, manufacturers from across the globe have supported this international project by making their bars available. Founder was N M Rothschild & Sons (Australia) Limited, associated with N M Rothschild & Sons Limited, London. Custodian and Official Location is The Perth Mint, wholly owned by the Government of Western Australia. Curator is Grendon International Research Pty Ltd (GIR). Apart from acting as a consultant within the gold industry, GIR has published several reference books on gold, including The Industry Catalogue of Gold Bars Worldwide. Refer to disclaimer on website: www.goldbarsworldwide.com © Grendon International Research Pty Ltd 2008. All rights reserved. 2

KITCO INC INDUSTRY COLLECTION MINTED FINE GOLD INVESTMENT BAR FOR INTERNATIONAL MARKET Supplement 10/2008 Manufactured by Royal Canadian Mint Kitco launched its 1 oz minted gold Canada investment bar in 2007. Kitco Inc is an international retailer of gold investment products, and www.kitco.com globally recognized through its website: www.kitco.com Latest Gold News Contributed Commentaries Apart from offering an extensive range of high quality bullion products Latest Press Releases and custodial programmes, and acting as a prime source of market Technical and Fundamental information, the company also issues its own Kitco branded 1 oz fine gold bar, mainly for US and Canadian investors. Analyses Precious Metals Charts and The minted bar, manufactured by the Royal Canadian Mint, has been included in the Industry Collection. Tables Precious Metal Store BACKGROUND The company established its Kitco Inc, established in 1977, is headquartered in Montreal, Canada. Its world-renowned website in 1995. worldwide services are supported by representative offices in New York and Hong Kong, both opened in 2007. The company’s international award-winning website was launched in 1995. It is reported to be the highest accessed precious metals information site on the Internet. The annual number of hits exceeds 750 million. Its precious metal-related charts and tables are also used extensively on more than 90,000 external web pages around the world, including pages on the Gold Bars Worldwide website. Apart from its precious metal-related investment products, Kitco also offers precious metal refining services and industrial products, mainly for the jewellery and scientific community in North America. Kitco has been associated with the Gold Bars Worldwide website as a media partner since August 2008. TECHNICAL DESCRIPTION Weight Type Fineness Shape Dimensions First Rectangular mm Issued 1 oz Minted 999.9 2007 Source: Royal Canadian Mint 29 x 50 x 1.2 Kitco’s international headquarters is in Montreal, Canada.

Kitco Inc www.goldbarsworldwide.com MINTED 1 OZ FINE GOLD BAR Obverse Reverse Kitco Canada ROYAL CANADIAN MINT Canada The Royal Canadian Mint (RCM), a major gold refiner and bar manufacturer for the international market, is located in Ottawa, the capital city of Canada. The RCM is a Crown Corporation, wholly owned by the Federal Government of Canada. Accreditation 1919* London Bullion Market Association 1974 New York Mercantile Exchange, COMEX Division 1988 The Tokyo Commodity Exchange 2007 Dubai Multi Commodities Centre * Estimated Website: www.mint.ca THE INDUSTRY COLLECTION OF GOLD BARS WORLDWIDE The Industry Collection of Gold Bars Worldwide is the culmination of a worldwide effort to create a unique collection of standard, innovative and unusual gold bars to support the promotion of gold. Since 1993, manufacturers from across the globe have supported this international project by making their bars available. Founder was N M Rothschild & Sons (Australia) Limited, associated with N M Rothschild & Sons Limited, London. Custodian and Official Location is The Perth Mint, wholly owned by the Government of Western Australia. Curator is Grendon International Research Pty Ltd (GIR). Apart from acting as a consultant within the gold industry, GIR has published several reference books on gold, including The Industry Catalogue of Gold Bars Worldwide. Refer to disclaimer on website: www.goldbarsworldwide.com © Grendon International Research Pty Ltd 2008. All rights reserved. 2

GOLD BARS Supplement 1/2014 UBS AG SWITZERLAND GOLD BARS FOR THE INTERNATIONAL MARKET UBS AG is a major international gold bullion dealer, whose branded bars UBS is an international gold bullion have been traded around the world since 1980. dealer with trading offices in Switzerland, Singapore, The bank maintains Precious Metals/Commodities dealing offices in United Kingdom and USA. Singapore, Switzerland (Zurich, Geneva and Lugano), United Kingdom (London) and the USA (Stamford, CT). The bank is an important supplier of kilobars to the international gold market. The London branch of UBS AG is a Market-Making Member of the London Bullion Market Association (LBMA). It has issued 1 oz minted bars, notably for the US market, since 1979. RANGE OF GOLD BARS Apart from dealing in a wide range of gold bars manufactured by accredited refiners worldwide, UBS AG issues a standard branded range of 5 cast bars and 8 minted bars. Cast: 100 g – 5000 g (5 bars) Minted: 1 g – 100 g (7 bars), 1 oz UBS AG bars are manufactured in Switzerland by three of the world’s major gold refiners (Argor-Heraeus SA, Metalor Technologies SA and PAMP SA). BACKGROUND UBS AG is a leading global wealth manager, a top tier investment banking and securities firm and one of the largest global asset managers. In Switzerland, UBS is the market leader in retail and commercial banking. The bank, which traces its origins to 1854, has been known as UBS AG since 1998, following the merger of the Union Bank of Switzerland (UBS) and Swiss Bank Corporation (SBC) in July of that year. For many years, both UBS and SBC owned or held substantial shares in major Swiss refining companies. UBS was closely associated with Argor SA, a leading international gold refiner. In 1960, it had obtained a shareholding of 80%, acquiring full ownership in 1980. In 1986, when UBS and Heraeus Holding GmbH established a joint- venture company, the name of the refiner was changed to Argor-Heraeus SA. Following the merger of UBS and SBC in 1998, UBS AG sold its shares in the joint venture. SBC was closely associated with Metaux Precieux SA Metalor. Since 1936, SBC had owned this major international gold refiner as a subsidiary company. UBS AG retained this company as a subsidiary until 2001, when it was acquired by industrial investors and renamed Metalor Technologies SA.

UBS AG www.goldbarsworldwide.com UBS AG bars continue to be manufactured by the refiners with which it has been long associated. Metalor Technologies SA manufactures UBS cast bars, while Argor-Heraeus manufactures UBS cast and minted bars. While the cast bars bear the official stamp of UBS AG, they also record the respective certification stamps of the two refiners. UBS AG is a public company, listed on the SWX Swiss Stock Exchange, the New York Stock Exchange (NYSE) and the Tokyo Stock Exchange (TSE). It has branches and representative offices in more than 50 countries worldwide. Number of employees: 58,000 Website: www.ubs.com UBS issues an extensive range of minted bars denominated in grams. TECHNICAL DESCRIPTION Weight Type Fineness Shape Dimensions First Current Serial Number Rectangular mm Issued Stamp System 5000 g Cast 995 Rectangular 2005 2005 1000 g Cast 999.9 Rectangular 227 x 56 x 20.5 Letter 500 g Cast 995 Rectangular 1980 1998 6 Numbers 250 g Cast 999.9 Rectangular 116.5 x 51 x 9.5 Letter 995 1980 1998 Plus 5 numbers 999.9 91 x 41 x 7.6 Letter 999.9 1980 1998 Plus 5 numbers 50 x 30.5 x 9 Maximum 100 g Cast 999 1980 1998 6 numbers 44 x 26 x 4.5 Maximum 6 numbers 100 g Minted 999.9 Rectangular 49.7 x 28.5 x 3.9 1980 1998 6 numbers 50 g Minted 999.9 Rectangular 49.7 x 28.5 x 2.0 1980 1998 6 numbers 20 g Minted 999.9 Rectangular 40.4 x 23.3 x 1.3 1980 1998 6 numbers 10 g Minted 999.9 Rectangular 31.5 x 18.5 x 1.0 1980 1998 6 numbers 5g Minted 999.9 Rectangular 23.0 x 14.0 x 1.0 1980 1998 6 numbers 2g Minted 999.9 Rectangular 19.0 x 11.5 x 0.6 1980 1998 6 numbers 1g Minted 999.9 Rectangular 1980 1998 6 numbers 1 oz Minted 999.9 Rectangular 15.0 x 8.7 x 0.5 1979 1998 6 numbers 40.4 x 23.3 x 1.75 Source: UBS AG Note: The reverse side of minted bars can be plain or stamped with a UBS has issued kinebars® since 1994. KINEGRAM®, a feature that defines the bar as a kinebar®. HISTORY OF GOLD BARS Although UBS had controlled Argor SA since 1960, UBS issued 1 oz, 1/2 oz and 1/4 oz minted bars as its first branded UBS bars in 1979. In 1980, 5 cast bars were launched: 1000 g, 500 g, 250 g, 100 g and 10 tola, In the same year, a range of 11 minted bars were issued: 100 g, 50 g, 20 g, 10 g, 5 g, 2.5 g, 2 g and 1 g; 5 tael and 1 tael. Additional cast bars were subsequently issued: 5 tael cast bars in 1987, and 5 tola cast bars in 1996 (but there has been no production since 2003, due the Indian Government’s change to metric rules). 2

UBS AG www.goldbarsworldwide.com In 1994, UBS initiated its range of kinebars®. These bars incorporate a Historical 100 g bar. KINEGRAM® as a decorative and security device to the reverse sides of Iillustrates the official stamp applied minted bars. The two-dimensional computer-generated image of the UBS official stamp appears in a variety of colours when illuminated with white by UBS to bars issued between light. 1980 and 1998. Between 1994 and 1997, UBS issued an innovative range of minted bars (as kinebars®) which guaranteed in writing on each bar a minimum UBS buy-back price in US dollars per ounce or Yen per gram before a specified date in 2000 and 2001. Minted bar weights: 1000 g, 500 g and 100 g. In 2005, UBS AG was also the first bullion bank to issue 5000 g bars for the international market. The current UBS AG official stamp has been applied to all cast and minted bars since 1998, replacing a UBS version that had been applied since 1980. 1000 g UBS kilobars have been traded internationally since 1980. Refer to disclaimer on website: www.goldbarsworldwide.com © Grendon International Research Pty Ltd 2014. All rights reserved. 3

PAMP SA INTERNATIONAL REFINER SWITZERLAND Supplement 2014 LOCATION PAMP SA, a leading international gold PAMP SA is a leading international gold refiner and the world’s largest refiner and bar manufacturer, manufacturer of minted bars. It has its headquarters in Castel San Pietro was founded in 1977. in south eastern Switzerland. The company is the world’s major Gold refining, and the manufacturing of bars and other products, takes manufacturer of minted gold bars. place in Castel San Pietro. Kilobars are manufactured to a OWNERSHIP fineness of 995, 999 or 999.9 for the PAMP SA is a subsidiary of MKS (Switzerland) SA, a private company. Its international market. international headquarters is located in Geneva. ACCREDITATION 1987 London Bullion Market Association (LBMA) 1989 CME Group - Market Contract: COMEX 1990 Tokyo Commodity Exchange (TOCOM) 2005 Dubai Multi Commodities Centre (DMCC) Central Office of Precious Metal Control, Berne Swiss Association of Manufacturers and Traders in Precious Metals The gold bars of PAMP have been accepted as good delivery by the Swiss National bank since 1986. In 2004, the London Bullion Market Association (LBMA) appointed PAMP SA as one of five Referees to the London Good Delivery system. PAMP is also accredited to the LBMA for silver (since 1995), the London Platinum and Palladium Market (since 2003) and the Tokyo Commodity Exchange for silver and palladium (since 2007) and for platinum (since 2008). BACKGROUND PAMP SA, founded in 1977, was established as a subsidiary company of MKS (Switzerland) SA in 1981. The name “PAMP” is a contraction of the words “Produits Artistiques Me´ taux Pre´ cieux”. Until 1984, the company confined its operations to bar manufacturing at premises located in Via Emilio Bossi in Chiasso. In 1984, the company was relocated to Castel San Pietro where a substantial new gold and silver refinery and manufacturing plant had been built. PAMP is renowned for pioneering major international developments in the format and design of minted bars.

PAMP SA www.goldbarsworldwide.com The company was the first among accredited gold refiners to incorporate The refinery was established in as standard practice a wide variety of optional designs on the reverse Castel San Pietro in 1984. sides of its bars (since 1979), to produce pendant bars (since 1983) and bars in a variety of shapes (since 1985), to apply colourful three Pouring molten gold dimensional holograms as a decorative device (since 1990), to manufacture 1 oz and 1/2 oz bullion watches (since 1994), to issue an PAMP has manufactured extensive range of round and oval minted bars (since 1995), to issue London Good Delivery 400 oz bars higher value added “talisman” bars (2006), a series of fashionable “icOns” bars (2009) and a series of “Elements” bars in 2012. since 1987. In addition to Switzerland, the company has offices in 11 countries: 2 established in Dubai (1996), Thailand (1996), Malaysia (1996), Australia (1998), USA and China (2002), Vietnam, Netherlands and India (2008), Singapore (2009) and Turkey (2010). Apart from gold, the company refines silver, platinum, palladium, rhodium and ruthenium, producing bars and other products for the silver and platinum group metal industries. Number of employees: 220 GOLD SERVICES PAMP SA focuses on: (1) Homogenization (2) Recovery and refining (3) Casting/manufacture of ‘Good Delivery’ bars or bullion bars (100-grams or greater) (4) Minting services GOLD REFINING AND RECYCLING OF SCRAP The company normally accepts the following gold-bearing materials for refining up to 999.9, and to 999.99 purity if required: • Semi-refined bullion • Mine dore´: predominantly gold • Mine dore´: predominantly silver • Old jewellery • Jewellery manufacturers scrap • Dental scrap • Old coins and medals • Slag and other refining scrap Gold refining methods include wet chemical chlorination (aqua regia), electrolysis and wet chemical parting. Annual gold refining capacity is in excess of 450 tonnes. GOLD BARS An indicative standard range of 11 cast bars, and 46 minted bars in a variety of shapes. Cast: 400 oz, 100 oz, 100 g – 1000 g, 10 tola, 1 – 10 tael Minted: 0.3 g – 1000 g, 1/10 oz – 10 oz, 1 and 5 tola, 1 tael PAMP also manufactures an extensive range of customised bars for external entities. In recent years, it is renowned for having pioneered the manufacturing of minted bars in a variety of shapes (round, rectangular, oval and heart) for leading banks in India.

PAMP SA www.goldbarsworldwide.com TECHNICAL DESCRIPTION Weight Type Fineness Shape Dimensions First Serial Number mm Issued System 400 oz Cast 999.9 Rectangular 1984 250 x 90 x 40 Letter 100 oz Cast 999.9 Rectangular 225 x 58 (base) 1988 Plus 8 numbers 127.5 x 57.5 x 25 Letter/6 numbers 1000 g Cast 995, 999, 999.9 Rectangular 122.5 x 52.5 (base) 1984 500 g Cast 999.9 Rectangular 116 x 51 x 8.67 1985 Letter/6 numbers 250 g Cast 999.9 Rectangular 1985 Letter/6 numbers 100 g Cast 999.9 Rectangular 90 x 40 x 7.3 1988 Letter/6 numbers 50 g Cast 999.9 Rectangular 60 x 35 x 6.3 2008 Letter/6 numbers 10 tola Cast Rectangular 44 x 26.5 x 4.5 1985 Letter/6 numbers 10 tael Cast 999, 999.9 Rectangular 1989 - 5 tael Cast 999.9 Rectangular 33 x 19 x 5 1989 Letter/6 numbers 1 tael Cast 999.9 Rectangular 47 x 27 x 5.01 1989 Letter/6 numbers 999.9 Letter/6 numbers Rectangular 90 x 40 x 5.5 2010 1000 g Minted 999.9 Rectangular 60 x 35 x 4.7 2010 Letter/6 numbers 500 g Minted 999.9 Rectangular 2010 Letter/6 numbers 250 g Minted 999.9 Rectangular 27 x 16 x 5 1979 Letter/6 numbers 100 g Minted 999.9 Rectangular 1979 Letter/ 6 numbers 50 g Minted 999.9 Rectangular 118 x 52.5 x 8.4 1979 Letter/6 numbers 20 g Minted 999.9 Rectangular 85 x 54 x 5.63 1979 Letter/6 numbers 10 g Minted 999.9 Rectangular 60 x 35 x 6.20 2005 Letter/6 numbers 8g Minted 999.9 Rectangular 47 x 27 x 4.29 1979 Letter/6 numbers 5g Minted 999.9 Rectangular 47 x 27 x 2.13 1981 Letter/6 numbers 2.5 g Minted 999.9 Rectangular 31 x 18 x 1.97 1980 Letter/6 numbers 1g Minted 999.9 Rectangular 2007 Letter/6 numbers 0.5 g Minted 999.9 Rectangular 25.5 x 15.5 x 1.38 2007 Letter/6 numbers 0.3 g Minted 999.9 Rectangular 22.5 x 15.5 x 1.05 2004 Letter/6 numbers 10 oz Minted 999.9 Rectangular 2004 Letter/6 numbers 5 oz Minted 999.9 Rectangular 23.3 x 14 x 0.83 1979 Letter/6 numbers 1 oz Minted 999.9 Rectangular 22.1 x 13.1 x 0.46 1979 Letter/6 numbers ½ oz Minted 999.9 Rectangular 2008 Letter/6 numbers ¼ oz Minted 999.9 Rectangular 14.5 x 8.6 x 0.43 1989 Letter/6 numbers 5 tola Minted 999, 999.9 Rectangular 9.5 x 6 x 0.29 1983 Letter/6 numbers 1 tola Minted 999, 999.9 Rectangular 9.5 x 6 x 0.17 1989 Letter/6 numbers 1 tael Minted 999.9 60 x 35 x 8.3 Letter/6 numbers Round 60 x 35 x 3.79 1995 50 g Minted 999.9 Round 41 x 24 x 1.70 1995 Letter/6 numbers 20 g Minted 999.9 Round 31 x 18 x 1.52 1995 Letter/6 numbers 20 g Minted 999.9 Round 1995 Letter/6 numbers 10 g Minted 999.9 Round 25.5 x 14.5 x 1.07 1995 Letter/6 numbers 10 g Minted 999.9 Round 47 x 27 x 2.48 1995 Letter/6 numbers 7g Minted 999.9 Round 1995 Letter/6 numbers 5g Minted 999.9 Round 25.5 x 15.5 x 1.61 1995 Letter/6 numbers 5g Minted 999.9 Round 41 x 24 x 2.20 1995 Letter/6 numbers 2.5 g Minted 999.9 Round 1995 Letter/6 numbers 2.5 g Minted 999.9 Round 40 x 40 x 2.04 1995 Letter/6 numbers 2g Minted 999.9 Round 33 x 33 x 1.20 1987 Letter/6 numbers 1 oz Minted 999.9 Round 24 x 24 x 2.26 1990 Letter/6 numbers ½ oz Minted 999.9 Round 24 x 24 x 1.13 1990 Letter/6 numbers ¼ oz Minted 999.9 Round 22 x 22 x 1.35 1990 Letter/6 numbers 1/10 oz Minted 999.9 22 x 22 x 0.94 Letter/6 numbers 18 x 18 x 1.00 16 x 16 x 1.27 18 x 18 x 0.50 16 x 16 x 0.63 13.9 x 13.9 x 0.78 33 x 33 x 2.15 24 x 24 x 1.76 22 x 22 x 1.05 18 x 18 x 0.63 3

PAMP SA www.goldbarsworldwide.com Weight Type Fineness Shape Dimensions First Serial Number mm Issued System 50 g Minted 999.9 Oval 1995 20 g Minted 999.9 Oval 45 x 30 x 2.46 1995 Letter/6 numbers 10 g Minted 999.9 Oval 45 x 30 x 0.98 1995 Letter/6 numbers 8g Minted 999.9 Oval 26.8 x 16.5 x 1.46 1995 Letter/6 numbers 5g Minted 999.9 Oval 26.8 x 16.5 x 1.16 1995 Letter/6 numbers 2.5 g Minted 999.9 Oval 22.5 x 14 x 1.035 1995 Letter/6 numbers 1g Minted 999.9 Oval 22.5 x 14 x 0.515 1995 Letter/6 numbers 1 oz Minted 999.9 Oval 14.5 x 9 x 0.51 1990 Letter/6 numbers ½ oz Minted 999.9 Oval 45 x 30 x 1.53 1990 Letter/6 numbers ¼ oz Minted 999.9 Oval 45 x 30 x 0.765 1990 Letter/6 numbers 26.8 x 16.5 x 1.13 Letter/6 numbers Source: PAMP SA Serial numbering systems The company manufactures a 400 oz. Letter plus 8 numbers. The serial number comprises 4 different standard range of 46 rectangular, codes. 1st code is a letter, which indicates the year the bar was made. 2nd code is a 4-digit number, which indicates the number assigned to the round and oval minted bars. fusion (melting) process of a specific day. 3rd code is a 2-digit number, which indicates the progressive number assigned to each fusion cycle Minted bars are protected by progressed during the day noted by the 2nd code. 4th code is a 2-digit CertiPAMP packaging. number, which indicates the progressive number assigned to each bar. An example: A 01230212. A serial numbering system was applied as standard practice only on 400 oz and 100 oz bars from 1984 until 2012. Serial numbers on other bar weights were only applied on request. Since 2012, almost all smaller cast and minted bars are now stamped with a letter and serial number. HISTORY OF GOLD BAR MANUFACTURE PAMP SA, in its early years, manufactured minted bars only. In 1979, 7 rectangular minted bars were launched: 100 g, 50 g, 20 g, 10 g, 5 g, 1 oz, 1/2 oz. The range was extended with the introduction of 1 g (1980), 2.5 g (1981), 1 tola (1983), 5 tola and 1 tael (1989), chi-denominated bars for Vietnam (1994), and 5 oz and 10 oz (2004). In 1984, 400 oz and 1000 g cast bars were issued, following the opening of the refinery at Castel San Pietro. The cast bar range was increased with the issue of 500 g, 250 g, 10 tola (1985), 100 oz, 100 g (1988), 10 tael and 5 tael bars (1989). The company’s first cast bar, the 10 tola, had been introduced in 1983. In 1990, the company was the first, among accredited refiners, to issue oval minted bars: 1 oz, 1/2 oz and 1/4 oz. In 1995, 7 gram-denominated weights were also issued, ranging from 1 g to 50 g. The company’s first round minted bar was issued as a 1 oz (1987), followed by others: 1/2, 1/4 and 1/10 oz bars (1990), and 12 gram- denominated bars, ranging from 2 g to 50 g (1995). In 1995, the company was the first, among accredited refiners, to issue a range of oval minted bars: in 7 weights, ranging from 1 g to 50 g. In 2010, 1000 g, 500 g and 250 g minted bars were issued. 4

PAMP SA www.goldbarsworldwide.com In 2011, “The Lunar Calendar Series” was launched to commemorate the Fortuna 12-year lunar, starting with “Year of the Dragon” bars for 2012. Range: The renowned Fortuna, Rose and 100 g, 5 g and 1 oz. Liberty designs are often applied to the reverse side of minted bars. While standard rectangular bars have been manufactured since 1979, innovative pendant bars in a variety of shapes that incorporate a hanger Rose have been issued: oval, rectangular (since 1984), lozenge (since 1985), colonna (since 1986), heart (since 1994). Liberty In recent years, many other innovative bars, with a capacity to be worn as pendants, have been launched: “Talisman” bars (2006) in a variety of shapes; “ic0ns” bars (since 2009) with stylish designs appealing directly to fashion conscious consumers; “Elements” bars (since 2010); and “Anim-Mates” bars (in 2014). A decorative design has appeared on the reverse side of all minted bars since 1979 when the Roman Goddess of Fortune, the best known of the company’s designs, was first used. Since that time, a portfolio of more than 50 optional designs have been developed, ranging from flowers, birds and animals to Zodiac signs, Hindu Gods and the Buddha. Multi-coloured hologram designs, as an optional decorative feature, have been applied to gold bars, particularly pendant bars, since 1990. The original official stamp, slightly modified in 1982, was adopted in 1979, the certification mark in 1980. TRADE COMMUNICATION Enquiries by gold dealers should be directed to MKS (Switzerland) SA: MKS (Switzerland) SA Promenade St-Antoine 10 PO Box 3470 1211 Geneva 3 Switzerland Tel: +41-22-818 5100 Fax: +41-22-810 1388 Email: [email protected] Website: www.mks.ch Enquiries by industrial customers should be directed to PAMP SA: PAMP SA 6874 Castel San Pietro Switzerland Tel: 41-91-6950 450 Fax: 41-91-6950 451 Email: [email protected] Website: www.pamp.ch 5

PAMP SA www.goldbarsworldwide.com EXAMPLES OF CAST BARS Certificates are issued for all bars weighing 1000 g and less. 1000 g 100 g 10 tola 1 tael London Good Delivery 400 oz bar. In 2004 the London Bullion Market Association (LBMA) appointed PAMP SA as one of five Referees to the London Good Delivery system. 6

PAMP SA www.goldbarsworldwide.com EXAMPLES OF MINTED BARS 100 g 20 g 1000 g 50 g 1 oz 10 g 5g Round bars have been Oval bars have been manufactured since 1990. manufactured since 1995. Obverse Reverse Hologram bars have been manufactured since 1990. 7

PAMP SA www.goldbarsworldwide.com STANDARD PENDANT GOLD BARS PAMP is the world’s largest manufacturer of minted pendant bars. The company has issued more than 50 tonnes of these innovative bars worldwide since their launch in the Middle East in 1984. Weight Type Fineness Shape Dimensions First mm Issued 50 g Minted 999.9 Rectangular 20 g Minted 999.9 Rectangular 51 x 27 x 2.07 1984 10 g Minted 999.9 Rectangular 37 x 18 x 1.85 1984 5g Minted 999.9 Rectangular 28.5 x 15.5 x 1.32 1984 2.5 g Minted 999.9 Rectangular 28.5 x 15.5 x 0.66 1984 1 oz Minted 999.9 Rectangular 26.7 x 14 x 0.385 1984 1/2 oz Minted 999.9 Rectangular 45 x 24 x 1.68 1984 1/4 oz Minted 999.9 Rectangular 37 x 18 x 1.45 1984 28.5 x 15.5 x 1.04 1984 50 g Minted 999.9 Oval 50 x 35 x 2.375 1984 20 g Minted 999.9 Oval 50 x 35 x 0.945 1984 20 g Minted 999.9 Oval 1984 10 g Minted 999.9 Oval 39 x 20 x 1.83 1984 10 g Minted 999.9 Oval 31 x 17 x 1.85 1984 5g Minted 999.9 Oval 39 x 20 x 0.91 1984 2.5 g Minted 999.9 Oval 26 x 14 x 0.98 1984 1g Minted 999.9 Oval 26 x 14 x 0.49 1984 1 oz Minted 999.9 Oval 1984 1/2 oz Minted 999.9 Oval 17 x 9 x 0.47 1984 1/4 oz Minted 999.9 Oval 50 x 35 x 1.47 1984 50 x 35 x 0.735 31 x 17 x 1.095 1985 1985 50 g Minted 999.9 Lozenge 50 x 32 x 3.11 1985 20 g Minted 999.9 Lozenge 50 x 32 x 1.24 1985 10 g Minted 999.9 Lozenge 38 x 24 x 1.06 1985 5g Minted 999.9 Lozenge 31 x 18 x 0.83 1985 2.5 g Minted 999.9 Lozenge 31 x 18 x 0.42 1985 1g Minted 999.9 Lozenge 17 x 11 x 0.68 1985 1 oz Minted 999.9 Lozenge 50 x 32 x 1.93 1/2 oz Minted 999.9 Lozenge 50 x 32 x 0.965 1986 1986 20 g Minted 999.9 Colonna 47 x 32 x 1.11 1986 10 g Minted 999.9 Colonna 37 x 25 x 0.94 1986 5g Minted 999.9 Colonna 27.5 x 18.5 x 0.82 1986 1 oz Minted 999.9 Colonna 47 x 32 x 1.735 1/2 oz Minted 999.9 Colonna 47 x 32 x 0.86 1995 1995 2g Minted 999.9 Heart I 21 x 20 x 0.37 1995 2.5 g Minted 999.9 Heart I 21 x 20 x 0.47 1995 5g Minted 999.9 Heart I 23 x 22 x 0.75 1999 10 g Minted 999.9 Heart I 26 x 27 x 1.095 1999 2.5 g Minted 999.9 Heart II 22 x 21 x 0.45 1999 5g Minted 999.9 Heart II 22 x 21 x 0.90 1996 10 g Minted 999.9 Heart II 24 x 26 x 1.30 5g Minted 999.9 Double-Pendant 31.5 x 28 x 2.01 Source : PAMP SA 8

PAMP SA www.goldbarsworldwide.com EXAMPLES OF STANDARD PENDANT BARS Lozenge Oval Colonna Obverse Reverse Heart Heart Double-pendant GOLD “icOns” BARS – SERIES PAMP is the first, among accredited refiners to manufacture minted gold bars that incorporate fashion and pop culture-derived motifs on their reverse sides. The 1st edition, launched in 2009, illustrates a variety of skins: cobra, crocodile, stingray, leopard and zebra. The 2nd edition, launched in 2011, illustrates three famous styles of lace that originated in the French cities of Calais, Chantilly and Valenciennes. Weight Type Fineness Shape Dimensions First mm Issued 20 g Minted 999.9 Rectangular 41 x 24 2009 The “icOns” series was launched 10 g Minted 999.9 Rectangular 31 x 18 2009 in 2009. 5g Minted 999.9 Rectangular 2009 23.3 x 14 The “Elements” series was launched in 2010. Source: PAMP SA 9 GOLD “ELEMENTS” BARS – SERIES A range of stylish “Bloom” gold bars illustrates a variety of flowers: Water Lily, Orchid, Iris, Rose and Peony. The bars, which weigh 1/5 oz, have an elongated, rectangular shape, similar to the ancient Egyptian “cartouche”. They were launched in 2010. Weight Type Fineness Shape Dimensions First Rectangular mm Issued 1/5 oz Minted 999.9 Source: PAMP SA 13.00 x 30.00 2010 The series has continued with the issue of “Wings” gold bars (2011) and “Wave” gold bars (2012).

PAMP SA www.goldbarsworldwide.com LUNAR CALENDAR GOLD BARS - SERIES The Lunar Calendar Series started with “Year of the Dragon” bars for 2012, followed by the “Year of the Snake” in 2013. The 12 animals in the 12-year lunar cycle: Rat, Ox, Tiger, Rabbit, Dragon, Snake, Horse, Goat, Monkey, Rooster, Dog, Pig. Weight Type Fineness Shape Dimensions First mm Issued* 100 g Minted 999.9 Rectangular 1 oz Minted 999.9 Rectangular 27.00 x 47.00 2011 5g Minted 999.9 Rectangular 24.00 x 41.00 2011 14.00 x 23.30 2011 Source: PAMP SA First Issued TALISMAN GOLD BARS 2006 Known as “FORS talismans”, these innovative minted bars were launched 2006 in Japan in 2006. Each of the 6 different shapes represents a symbol 2006 of good fortune. An optional message of peace, love, joy, health or 2006 prosperity is inscribed on the bars in 9 languages: English, French, 2006 Italian, Spanish, German, Arabic, Hebrew, Russian and Chinese. 2006 Weight Type Fineness Name Shape Dimensions mm 15 g Minted 750 Icône Oval 41 x 15 6.5 g Minted 750 Èternel Rectangular 45 x 5.40 4g Minted 750 Universe Oval 2g Minted 750 Plenty Round 26 x 10.50 4g Minted 750 Flame of Love Heart 13 x 13 2.4 g Minted 750 Wave of Emotion Heart 21 x 19.8 14.40 x 15 Source: PAMP SA Year of the Dragon Èternel The Talisman bar range was launched The Lunar Calendar Series was launched in 2012. in 2006. 10

PAMP SA www.goldbarsworldwide.com ANIM-MATES COLLECTION The Anim-Mates Collection depicts three endearing animal characters: Bunny-Luv, Kitty-KDO and Brainy-Bear. The minted pendant bars, in proof-like quality, are also known as “Precious Squared” in recognition of their square shape. They were launched in 2014. Weight Type Fineness Shape Dimensions First mm Issued 10 g Minted 999.9 Square 2014 5g Minted 999.9 Square 20 x 20 2014 16 x 16 Source: PAMP SA Bunny-Luv Kitty-KDO Brainy-Bear The Anim-Mates Collection was launched in 2014. MULTIGRAM BULLION SETS Multigram bullion sets, containing 25 x 1 g and 12 x 1 g minted gold bars, wewre launched in 2013. The bars are held in interconnecting CertiPAMP units that can be snapped off from the set as required. The sets assist those investors who prefer to own part of their gold holding in small 1 g units, as well as those who wish to use them as an attractive gold investment gift for family and friends. They were launched in 2013. Weight Type Fineness Shape Dimensions First mm Issued 1g Minted 999.9 Rectangular 2013 Source: PAMP SA 9.5 x 6 x 1.1 Multigram Bullion Sets were launched in 2013. 11

PAMP SA www.goldbarsworldwide.com OFFICIAL STAMPS On 400 oz and other bars On rectangular tola bars An historical stamp used on all issued under the name of only, since 1983. bars between 1978 and 1982, but can appear on minted bars. PAMP SA, since 1982. CERTIFICATION MARK On all bars issued under the name of PAMP SA, since 1980. PAMP has its own in-house design workshop and manufactures its own master tools and dies. PAMP offers allocated and unallocated gold storage facilities in Switzerland, New York and New Delhi. 12

PAMP SA www.goldbarsworldwide.com PAMP manufactures London Good Delivery platinum and palladium bars (since 2003) and silver bars (since 1995), as well as an extensive range of smaller bars. MMTC-PAMP India Pvt Ltd, which is associated with PAMP SA (Switzerland), opened a new gold refining and bar manufacturing plant near New Delhi in 2012. The company is a private joint venture between MKS Holding BV, MMTC Limited (India) and an MMTC employees entity. Refer to disclaimer on website: www.goldbarsworldwide.com © Grendon International Research Pty Ltd 2014. All rights reserved. 13

METALOR REFINING GROUP INTERNATIONAL REFINER SWITZERLAND – USA – HONG KONG – CHINA – SINGAPORE Supplement 2014 METALOR TECHNOLOGIES SA – SWITZERLAND Metalor has been associated with LOCATION the refining of gold since 1852. Metalor Technologies SA, a leading international gold refiner and bar Metalor has manufactured London manufacturer, has its headquarters in Neuchâtel, an historical town Good Delivery 400 oz bars since overlooking Lake Neuchâtel, about 150 km from Zurich. 1934. Most of the Group’s precious metals refining and the manufacture of bars and other products takes place at its refinery in Marin near Neuchâtel. Kilobars are manufactured to a fineness of 995, 999 and 999.9 for The company also operates gold refineries in four other countries: the international market. USA Metalor Technologies Corporation USA*u Hong Kong Metalor Technologies (Hong Kong) Limited*u China Metalor Technologies (Suzhou) Limited#u Singapore Metalor Technologies Singapore Pte Ltd*u Accreditation: * London Bullion Market Association. # Shanghai Gold Exchange. u Responsible Jewellery Cuncil – Chain of Custody. The Metalor Group is the only precious metal company to operate major refineries in three geographical zones: Europe, Americas and Asia. OWNERSHIP Metalor Technologies SA is a private company. It is owned by the French Private Equity Astorg Partners SA, Swiss bankers and businessmen. ACCREDITATION 1934* London Bullion Market Association (LBMA) 1974 CME Group – Market Contract: COMEX 2007 Tokyo Commodity Exchange (TOCOM) * Accredited in 1934 to the London Gold Market under the name of Société de Banque Suisse, which owned the original Métaux Précieux refinery. The accreditation functions of the London Gold Market were absorbed by the LBMA in 1987. Central Office of Precious Metal Control, Berne Swiss Association of Manufacturers and Traders in Precious Metals In 2003, Metalor Technologies SA was accredited to the Responsible Jewellery Council. In 2004, the LBMA appointed Metalor Technologies SA as one of five Referees to the London Good Delivery system. Metalor Technologies SA also manufactures London Good Delivery platinum, palladium and silver bars. In 2011, the company became a referee of the London Platinum and Palladium Market (LPPM). BACKGROUND Metalor Technologies SA traces its origins back to 1852 with the establishment of a watchcase manufacturer and gold smelting company, Martin, de Pury & Cie, which merged with the Bank of Le Locle in 1864.

Metalor Refining Group www.goldbarsworldwide.com In 1918, the company was taken over by Swiss Bank Corporation and Melting gold at the large refinery in formally established as a subsidiary under the name of Métaux Précieux Marin near Neuchâtel. SA in 1936. Pouring molten gold. In 1947, the company’s headquarters were relocated from Le Locle to Neuchâtel where a new precious metals refinery had been built. Manufacturing small cast bars. In 1978, the company’s name was modified to Métaux Précieux SA 2 Metalor. In 1986, Usine Genevoise Degrossissage d’Or (UGDO) was acquired. Established in 1875 in Geneva, its 400 oz bars had held London Good Delivery status. In 1998, when Swiss Bank Corporation merged with Union Bank of Switzerland (UBS), majority ownership was taken over by a group of industrial investors. Its name was modified to Metalor Technologies SA in 2001. The Group has refined gold in the USA (North Attleboro, Massachusetts) since 1989, in Hong Kong since 1982, in China (Suzhou) since 2006, and in Singapore since 2013. In 2007, it acquired the gold and silver refinery of Johnson Matthey Hong Kong Ltd. For the acquisition of scrap, the refineries are supported by evaluation platforms in Lyon (Europe), Los Angeles and Peru (Americas) and Hong Kong (Asia). In 2012, the Metalor Group was restructured into three main business units: Refining, Advanced Coatings and Electrotechnics. The Group has subsidiaries in 17 countries: Europe Switzerland, France, Italy, Netherlands, Spain, Sweden, UK Americas USA, Canada, Mexico, Peru Far East China, Japan, Singapore, South Korea, Taiwan, Thailand In addition to gold, the Group refines silver, platinum, palladium and rhodium, producing bars, grains, billets and powders for numerous industrial applications. It produces very high purity fine metals for hi-tech or medical usage. It has a department specifically dedicated to the development of precious metals nanoparticles. Number of employees: 1,700 (Group) GOLD SERVICES Metalor focuses on: (1) Gold refining and the recycling of scrap (2) Gold products for the jewellery industry (3) Gold products for the electronics and decorative industries (4) Gold bars GOLD REFINING AND RECYCLING OF SCRAP The company normally accepts the following gold-bearing materials for refining to specified purities up to 999.9: • Semi-refined bullion • Mine dore´: predominantly gold • Mine dore´: predominantly silver • Loaded carbon • Old jewellery

Metalor Refining Group www.goldbarsworldwide.com • Jewellery manufacturers scrap OFFICIAL STAMP • Electronic scrap • Dental scrap On 400 oz and other cast bars • Old coins and medals issued under the name of Metalor • Chemical solutions Technologies SA, since 2001. Gold refining methods include wet chemical chlorination (aqua regia) and electrolysis. The official stamp is also applied to bars manufactured by Metalor Annual gold refining capacity is recorded at approximately 650 tonnes worldwide. refineries in the USA, Hong Kong, China and Singapore. GOLD BARS A standard range of 6 cast and 4 minted bars: Cast: 400 oz, 1000 g, 500 g, 250 g, 100 g, 10 tola Minted: 100 g, 50 g, 20 g, 1 oz TECHNICAL DESCRIPTION Weight Type Fineness Shape Dimensions First Serial Number System mm Issued System Introduced 400 oz Cast 995+, 999.9 Rectangular 1934 245 x 87 x 42 6 numbers 1978 1000 g Cast 995, 999.9 Rectangular 213 x 50 (base) 1965 Plus year date 2001 Letter 1991 500 g Cast 999.9 Rectangular 117 x 52 x 9 1965 Plus 6 numbers Letter 1991 250 g Cast 999.9 Rectangular 86 x 38 x 8.5 1965 Plus 6 numbers Letter 1991 100 g Cast 999, 999.9 Rectangular 58 x 30 x 8 1965 Plus 6 numbers Letter 1991 10 tola Cast 999, 999.9 Rectangular 45 x 25 x 5 1960s Plus 6 numbers - - 45 x 27 x 6 100 g Minted 999.9 Rectangular 27.5 x 47.5 x 4.35 2011 6 numbers 2011 50 g Minted 999.9 Rectangular 25.7 x 44.2 x 2.65 2011 6 numbers 2011 20 g Minted 999.9 Rectangular 2012 6 numbers 2012 1 oz Minted 999.9 Rectangular 24.0 x 41 x 1.25 2011 6 numbers 2011 24 x 41 x 1.9 Source: Metalor Technologies SA. All cast bars, with the exception of 400 oz and 10 tola bars, are issued with a numbered certificate. The company also produces customized bars for external entities. HISTORICAL HISTORY OF GOLD BAR MANUFACTURE OFFICIAL STAMP Bar manufacture dates back formally to 1918 when Swiss Bank Corporation acquired the Bank of Le Locle. On bars issued under the name of Métaux Précieux SA Metalor In 1934, London Good Delivery 400 oz bars were issued, the first bars in between 1988 and 2001. Switzerland to be recognized by the London Gold Market. From 1934 until 1954, the bars were issued under the name of Société de Banque Suisse. Since 1954 they have been issued with a Metalor-related stamp. Prior to 1934, “kilobars” with an approximate weight of 1000 g had been introduced. In 1955, when the weight became exactly 1000 g, their dimensions were altered, changing again in 1965. In 1965, 5 smaller cast bars, whose dimensions have remained the same since that time, were launched: 500 g, 250 g, 100 g, 50 g and 10 oz, followed by 10 tola bars in the 1960s and 5 tael bars in 1981. The new METALOR® official stamp of Metalor Technologies SA, introduced in 2001, replaced the original stamp of Métaux Précieux SA 3