Background+Informa/on+on+BTAConsul/ng

1 Background Informa/on on BTA Consul/ng Presented by: Brian Taylor, BA (Hons), ACA Date: 14th October, 2015 BTA Proposal at a Glance Strengths BTA is the leading central markets consultancy prac/ce globally measured by number of clients. Our strength is unsurpassed and it will be very di cult for others to match Mul/- disciplinary end to Very strong academic Experience of all stages Solu/ons driven end exper/se background of development Absolute Professional and Flexible Honesty Market prac//oners independence Team Members BTA has assembled high calibre team members who are experts in their respec/ve elds > 140 man years of nancial Successfully delivered >100 Members of key interna/onal markets experience projects boards ECSDA, ANNA.

2 T2S Experience in 12 out of 18 CSD 92 years of CSD and CCP mul/ple Global experience with markets in system vendor solu/ons asset classes experience various phases of development Project Success 2. About BTA 3. Informa/on on BTA Legal Nature A limited liability company incorporated under the Laws of England and Wales Established in 1991 as a posi/ve decision to provide the highest quality consul/ng History services to central market clients and their stakeholders Organisa/on and Led by Mr Brian Taylor, the Managing Director, with a network of 30 specialist Management consul/ng professionals Core Services Central Markets Development and Contract Development and Project Management The Managing Director deals with all complaints and BTA always aims to be objec/ve Complaint Handling and fair.

3 The objec/vity comes from the need to follow the contract. Neither BTA nor any of the consultants in the team have been subject of disciplinary Disciplinary Ac/ons ac/on during the past 25 years Quality Reviews All BTA deliverables are cross reviewed by peers Changes in BTA BTA always endeavours to retain the team that it promises in its contracts. In the event personnel a change is required then BTA follows a formal change request process. 4. Team Members 5. Team Members BTA o ers complete coverage of exper/se providing best in class consultancy services Consultant Country strategy Clearing & Depository & Regula/ons IT Financial Governance Risk Experience Seblement Registrar Model Management UK, Switzerland, Brian Taylor.

4 Thailand and many (BA, ACA) others . Malaysia, New Zealand, UAE, Sin- Keat Cheah (BSc and FRM) Saudi Arabia, Azerbaijan and Sri Lanka . Slovenia, UAE, Peter Premk Bahrain, Egypt, (LLB) Libya, Azerbaijan and Sri Lanka . Denmark, Johannes Luef Luxembourg and (PhD) Mexico . Majd Jordan, UAE, Iraq, Sha q(BSc, MPA) Egypt, Tunisia and Morocco . Norway, US, Jan Erik Sweden, Saudi Audsen (BBA) Arabia and many others . 6. Pro le of Post Trade Team Members Brian Taylor General Experience: 30 years financial markets experience with more than 20 years with central financial markets covering Exchanges, Central Banks, ATS, CSDs and complex IT projects.

5 Specific Experience: Team Leader, Strategist, Innovator and Domain Expert, since 1989 onwards. Started as Team Leader to design and set up the Malaysian Central Depository. Other post trade experience includes VPS Norway, Crest UK, LCH, X-clear/SIS Switzerland, KDPW Poland, London Precious Metals Clearing, CDS India Limited, Malta CSD, Euroclear / Clearstream, Qatar CSD (pre-split), Malaysia CSD. Multi-asset class experience covering Government securities / fixed income, equities, some derivatives and some commodities including an innovative Government bond financial inclusion products.

6 Significant IT vendor negotiation ability from 7 contract negotiating projects. Sin- Keat Cheah General Experience: More than 20 years working experience in the capital market as a post-trade (CCP, CSD) expert, regulator, market operator and consultant in Malaysia, New Zealand, Dubai, Saudi Arabia, Azerbaijan and Sri Lanka. Specific Experience: Contributor to the Capital Market Masterplan for Malaysia and implemented all the recommendations. Implemented the strategic improvements for the financial market infrastructures in Malaysia, New Zealand and Dubai. Completed the business, operations and risk management strategy for Sri Lanka, risk management and corporate action arrangement strategy for Azerbaijan and assessing risk in the Clearing and Settlement Process in Saudi Arabia and provide strategic directions and roadmap for the implementation of the various recommendations on clearing and settlement in Saudi Arabia.

7 7. Pro le of Post Trade Team Members Peter Premk General Experience: 19 years financial markets experience covering legal, regulatory and operations of post trade environments. Specific Experience: Post trade legal, regulatory and operational expert with experience from over >. 10 countries including Chief Operating Officer, Member of the Slovenian CSD management board (1995. - 2005) of KDD, Slovenia - the national CSD and Registrar, responsible for legal, regulatory and IT. Implementation of new CSD System in Slovenia and the RTGS Interface DVP project with Slovenia Central Bank. Expert in transposition of PFMI-IOSCO, CSDR and EMIR into various markets.

8 Middle East experience includes, Egypt, drafting implementing and operating legal and regulatory solutions, CSD Syria, CSD Dubai, and the Bahrain CSD. Johannes Luef General Experience: 26 years financial markets experience with Doctorate in Information Technology. Specific Experience: 14 years as CEO of VP, Denmark. Founder of the first Luxembourg CSD VP LUX. with DVP links to Euroclear / Clearstream, and Board Member of ECSDA. Feasibility study for Nordic Clear, Founding member of Link-Up markets linking 7 CSDs in Europe. Successful export of VP Mortgage Backed Securities CSD technologies and expertise to Mexico and comducted a design study for Abu Dhabi.

9 8. Pro le of Post Trade Team Members Jan Erik Audsen General Experience: More than 28 years experience in project management and consulting roles. Highly experienced project and test manager, strategy consultant and entrepreneur in equity financial markets and bank payment systems. Specific Experience: Project Manager/Test Manager in 7 different trading system including X-stream. Middle East experience include Quality and Project governance audit commissioned by Tadawul to analyse the X-stream INET implementation from NASDAQ, including SMARTS and Equator modifications. Previous role include an advisor and trainer in ITSM best practices as defined by international standards like ITIL , COBIT and ISO 9000, including adhering to best practises for IT.

10 Security as defined by ISO 27000. Design of the IT requirements for the HFT strategy for the Stock Exchange of Thailand, including the impact on clearing requirements. 9. Projects Undertaken 10. World Class Client List Red references post trade 59 post trade projects from across the globe UK Asia Europe Allied Irish Bank Bombay Stock Exchange Alpha Bank Greece ABN Amro Hoare Govett Colombo Stock Exchange/ Central Bank of Sri Lanka and SEC Broker Systems Greece Athens Stock Exchange CDS (India) Limited Budapest Stock Exchange Bank of Ireland Computershare Cedborsa Spa Bank of Nova Scotia Karachi Stock Exchange CMA Small Systems Barclays Bank OTC Exchange of India Compaq Milan BT Syntegra Rubber Authority of Singapore Cyprus Stock Exchange Chi- Tech Europe Stock Exchange of Thailand National Audit Office, Cyprus Cinnober Stock Holding Corporation European Bankers Association STEP 2.