To all members,

According to the agreement entered into between China Beijing International Mining Exchange Co., Ltd (hereinafter referred to as “CBMX”) and Beijing Iron Ore Trading Center Corporation (hereinafter referred to as “COREX”), China Iron Ore Spot Trading Platform (hereinafter referred to as the “Platform”) owned and operated by CBMX is transferring to COREX.

After the transfer, COREX shall continue operating the Platform. CBMX shall assist its members to transfer their membership to COREX. The period of membership transfer is extended to February 28, 2015 (it remains effective until further notice). The membership is recognised by both CBMX and COREX during the period. The members’ bids, asks and deals on the Platform are effective.

Beijing Iron Ore Trading Center Corporation

China Beijing International Mining Exchange

Dec. 26, 2014