1. Selecting a Shareholder Identification Firm for Foreign Issuers 1.Methodology  Most shareholder identification (“ID”) firms use a variation of the same methodology, which involves a combination of acquiring custodian breakdowns, reviewing the share register (if available), cross-referencing with public filings, and obtaining confirmed real- time holdings from the investors.  The differences lie in where each firm places its emphasis, and whether or not the approach is appropriate for the market it is operating in for the particular report. 2.Track Record in Region  The experience a firm has in the region can be an important predictor of how successful the ID will be.  Firms with experience in the region are more likely to have established contacts with local custodians, as well as with investors focused upon the region. 3.Number of International Analysts  There is generally little cooperation between the Stockwatch analysts (focused on U.S.- based securities) and the Shareholder ID analysts (focused on non-U.S. securities).  It is important to get an idea of how many analysts work in the international team, which is largely responsible for the report information. 4.Experience of Analysts Assigned to Account  An experienced ID analyst will be able to uncover difficult-to-decipher accounts on custodial listings, recognize if a particular beneficial owner manages in-house or uses a sub-advisor, and review public filings and allocate shares to the correct institutions.  These skills save considerable time in research efforts and have a tangible impact on the overall identification rate of a project. 5.Language Skills  In markets where the disclosure of information is not obligatory, establishing contacts at the custodians and institutions is of paramount importance.  To properly navigate these entities, it is extremely important to have staff who can speak the local language. Who’s Helping You? For more information on BNY Mellon’s governance and proxy services, please contact: Michael S. O’Brien Governance and Proxy Solicitation Specialist Depositary Receipts +1 212 815 6007 michael.o’brien@bnymellon.com 10 Things To Consider…

2. Things to Consider When Selecting a Shareholder ID Firm for Foreign Issuers 6.Acquisition of Institutional Updates  In markets where there is no mandatory disclosure, firms that rely solely on custodial information may suffer accuracy issues, as the positions they report may be only a portion of the true holding.  Firms that go directly to the institutions use different methods to obtain this information. Casting the widest net does not necessarily result in the greatest disclosure, as blast e-mails and faxes typically do not result in high return rates. Firms with confirmed contacts at the institutions garner better return rates, and ultimately, provide better quality data. 7.Client Load Size  Having an excessive client load is one of the single greatest contributors to diminishing identification rates. There are two reasons for this:  Shareholder identification is a research-intensive project that requires suitable time to do properly. If an ID firm is conducting too many projects concurrently, this does not allow enough time to be dedicated to all projects.  Shareholder identification in non-disclosure markets requires gathering information from contacts at institutions. If contacts are presented with too many requests, many will simply not reply. 8.Transparency  If a firm is confident in the information it has presented in a report, it should have be comfortable providing the source of the information. We recommend that any firm that is retained to do a shareholder identification report be required to provide source information.  This information is generally divided into the following categories:  Confirmed by the institution (provide date of confirmation);  Holdings from custodial listing(s) (provide custodian(s) and date(s) of listing);  Information from share register (provide date of share register);  Information from public filings (provide date of latest filing); and  Estimated holdings (combination of filings, custodial holdings, fund fact sheets, or any other data). About BNY Mellon BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and may also be used as a generic term to reference the corporation as a whole or its various subsidiaries. BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net- worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $22.3 trillion in assets under custody and administration, $1.1 trillion in assets under management, services $12 trillion in outstanding debt, and processes global payments averaging $1.6 trillion per day. Additional information is available at bnymellon.com. This information and data are provided for general informational purposes only. It is not intended to constitute professional counsel or investment advice, nor any recommendation or endorsement with respect to any company or securities. BNY Mellon does not warrant or guarantee the accuracy or completeness of, nor undertake to update or amend, this information or data. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Members FDIC. ©2010 The Bank of New York Mellon Corporation. All rights reserved. Depositary Receipts: NOT FDIC, STATE OR FEDERAL AGENCY INSURED. MAY LOSE VALUE.NO BANK, STATE OR FEDERAL AGENCY GUARANTEE. 9.Expected ID Rate  If your company is based in a market where there is mandatory disclosure, the uncovering of shareholders will be centered on obtaining and processing custodial breakdowns. ID rates in these markets are generally in excess of 90%.  In non-disclosing markets, there are several roadblocks involved in uncovering the shareholders. As such, identification rates of approximately 70% are typical, but can easily drop to under 50% in particularly difficult situations. 10.Cost and Content  When reviewing fees, it is important to be clear on the deliverable details. Does the fee cover just a list of the investors and their respective holdings? Is there an executive summary that attempts to put the shareholder base into context and explains the changes that have occurred?  If there is a significant disparity in quoted fees, be clear on the differences in the services offered and the final deliverable.