ALS LIMITED — Major Shareholding Notification 2014

Apr 6, 2014

604 page 1/2 15 July 2001

Form 604 Corporations Act 2001 Section 671B Notice of change of interests of substantial holder

ALS LTD. To Company Name/Scheme 92 009 657 489 (ABN) ACN/ARSN

1. Details of substantial holder(1)

1. Details of substantial holder(1)
Name ACN/ARSN (if applicable) BlackRock to this	Group (BlackRock Inc. and subsidiaries named in Annexures form)
There was a change in the interests of the substantial holder on The previous notice was given to the company on The previous notice was dated	/ / / / / / 03 04 2014 24 03 2014 20 03 2014

1. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice	Previous notice	Present notice	Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
ord	19,828,769	5.02	23,818,080	6.04

1. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
	See Annexure A & D

1. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of Registered Person entitled Nature of Class and Person's votes relevant holder of to be registered relevant number of interest securities as holder (8) interest (6) securities See Annexure B

604 page 2/2 15 July 2001

1. Changes in association The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable) Nature of association Name Address Annexure C

1. Addresses The addresses of persons named in this form are as follows:

Signature

William Stockl *Authorised Signatory print name capacity 07 04 2014 sign here date / /

• At a meeting of the Board on 22 November 2013, the Directors resolved to approve the delegation of the preparation and lodgement of substantial shareholder notices on behalf of BlackRock Investment Management (Australia) Limited.

DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.

• (2) See the definition of "associate" in section 9 of the Corporations Act 2001.

• (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

• (4) The voting shares of a company constitute one class unless divided into separate classes.

• (5) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

• (6) Include details of: (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

• (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

• See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• (7) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, becom`e entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

• (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".

• (9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

Annexure A

This is Annexure A of 2 pages referred to in form 604 Notice of change of interests of substantial shareholder

William Stockl, Authorised Signatory

07-Apr-14 Date

3. Changes in relevant interests

		ALS LTD. (ALQ)
Date of Change	Person whose relevant interest changed	Nature of change (6) / Consideration given in relation to change (7)		Class and number of securities affected		Person's votes affected
21-Mar-14	BlackRock Asset Management	on mkt purchase	7.47	ord	121,064	121,064
	Deutschland AG
21-Mar-14	BlackRock Asset Management	on mkt purchase	7.54	ord	1,089,579	1,089,579
	Deutschland AG
21-Mar-14	BlackRock Advisors (UK) Limited	on mkt purchase	7.47	ord	222,380	222,380
21-Mar-14	BlackRock Advisors (UK) Limited	on mkt purchase	7.54	ord	2,001,417	2,001,417
21-Mar-14	BlackRock Advisors (UK) Limited	on mkt purchase	7.54	ord	415	415
21-Mar-14	BlackRock Fund Advisors	on mkt purchase	7.54	ord	7,208	7,208
21-Mar-14	BlackRock Investment	on mkt purchase	7.54	ord	41,094	41,094
	Management (Australia) Limited
21-Mar-14	BlackRock Investment	on mkt purchase	7.54	ord	7,385	7,385
	Management (Australia) Limited
21-Mar-14	BlackRock Investment	on mkt purchase	7.54	ord	12,279	12,279
	Management (Australia) Limited
21-Mar-14	BlackRock Investment	on mkt purchase	7.54	ord	12,463	12,463
	Management (Australia) Limited
21-Mar-14	BlackRock Investment	on mkt purchase	7.54	ord	20,003	20,003
	Management (Australia) Limited
21-Mar-14	BlackRock Institutional Trust	on mkt purchase	7.54	ord	3,025	3,025
	Company, N.A.
21-Mar-14	BlackRock Institutional Trust	on mkt purchase	7.54	ord	3,495	3,495
	Company, N.A.
21-Mar-14	BlackRock Fund Advisors	on mkt purchase	7.54	ord	258,791	258,791
21-Mar-14	BlackRock Asset Management	on mkt sale	7.54	ord	-3,039	-3,039
	Canada Limited
21-Mar-14	BlackRock Investment	on mkt purchase	7.54	ord	3,868	3,868
	Management (Australia) Limited
21-Mar-14	BlackRock Investment	on mkt purchase	7.54	ord	1,452	1,452
	Management, LLC
21-Mar-14	BlackRock Institutional Trust	on mkt purchase	7.54	ord	3,090	3,090
	Company, N.A.
24-Mar-14	BlackRock Fund Advisors	on mkt sale	n/a	ord	-8,008	-8,008
24-Mar-14	BlackRock Advisors (UK) Limited	on mkt purchase	7.52	ord	332	332
24-Mar-14	BlackRock Asset Management	collateral transfer	n/a	ord	56,703	56,703
	North Asia Limited
24-Mar-14	BlackRock Fund Advisors	on mkt sale	7.43	ord	-340	-340
25-Mar-14	BlackRock Advisors (UK) Limited	on mkt purchase	7.30	ord	332	332
25-Mar-14	BlackRock Fund Advisors	on mkt sale	7.30	ord	-30,634	-30,634
25-Mar-14	BlackRock Fund Advisors	in specie	n/a	ord	-3,554	-3,554
25-Mar-14	BlackRock Advisors (UK) Limited	on mkt purchase	7.30	ord	249	249
25-Mar-14	BlackRock Investment	on mkt purchase	7.30	ord	22,091	22,091
	Management (Australia) Limited
25-Mar-14	BlackRock Asset Management	collateral transfer	n/a	ord	-56,703	-56,703
	North Asia Limited
25-Mar-14	BlackRock Fund Advisors	on mkt sale	7.30	ord	-2,414	-2,414
25-Mar-14	BlackRock Institutional Trust	on mkt purchase	7.33	ord	21,192	21,192
	Company, N.A.
26-Mar-14	BlackRock Investment	on mkt sale	7.21	ord	-18,568	-18,568
	Management (UK) Ltd
26-Mar-14	BlackRock Fund Advisors	in specie	n/a	ord	16,592	16,592
26-Mar-14	BlackRock Institutional Trust	in specie	n/a	ord	1,152	1,152
	Company, N.A.
26-Mar-14	BlackRock Fund Advisors	on mkt sale	7.30	ord	-622	-622

page 1 of 2

ALQ

Date of Change	Person whose relevant interest changed	Nature of change (6) / Consideration given in relation to change (7)	Nature of change (6) / Consideration given in relation to change (7)	Class and number of securities affected	Class and number of securities affected	Person's votes affected
26-Mar-14	BlackRock Institutional Trust	in specie	n/a	ord	-1,152	-1,152
	Company, N.A.
27-Mar-14	BlackRock Advisors (UK) Limited	on mkt purchase	7.24	ord	747	747
27-Mar-14	BlackRock Fund Advisors	in specie	n/a	ord	6,222	6,222
27-Mar-14	BlackRock Fund Advisors	in specie	n/a	ord	-7,532	-7,532
27-Mar-14	BlackRock Fund Advisors	on mkt purchase	7.24	ord	1,743	1,743
27-Mar-14	BlackRock Advisors (UK) Limited	on mkt sale	7.24	ord	-743	-743
27-Mar-14	BlackRock Advisors (UK) Limited	on mkt sale	7.24	ord	-410	-410
27-Mar-14	BlackRock Investment	in specie	n/a	ord	-8,433	-8,433
	Management (UK) Ltd
28-Mar-14	BlackRock Fund Advisors	on mkt purchase	7.31	ord	3,054	3,054
28-Mar-14	BlackRock Advisors (UK) Limited	on mkt purchase	7.31	ord	166	166
28-Mar-14	BlackRock Fund Advisors	on mkt purchase	7.31	ord	2,450	2,450
28-Mar-14	BlackRock Advisors (UK) Limited	on mkt purchase	7.26	ord	5,391	5,391
31-Mar-14	BlackRock Fund Advisors	in specie	n/a	ord	10,370	10,370
31-Mar-14	BlackRock Advisors (UK) Limited	on mkt sale	7.33	ord	-26,448	-26,448
31-Mar-14	BlackRock Investment	in specie	n/a	ord	7,643	7,643
	Management (Australia) Limited
31-Mar-14	BlackRock Investment	on mkt sale	7.33	ord	-2,050	-2,050
	Management (UK) Ltd
31-Mar-14	BlackRock Institutional Trust	on mkt purchase	7.33	ord	7,345	7,345
	Company, N.A.
31-Mar-14	BlackRock Institutional Trust	in specie	n/a	ord	-21,192	-21,192
	Company, N.A.
01-Apr-14	BlackRock Fund Advisors	on mkt purchase	7.28	ord	7,272	7,272
01-Apr-14	BlackRock Advisors (UK) Limited	on mkt purchase	7.29	ord	52	52
01-Apr-14	BlackRock Advisors (UK) Limited	on mkt purchase	7.29	ord	1,450	1,450
01-Apr-14	BlackRock Advisors (UK) Limited	on mkt purchase	7.30	ord	83	83
01-Apr-14	BlackRock Advisors (UK) Limited	on mkt purchase	7.29	ord	1,393	1,393
02-Apr-14	BlackRock Advisors (UK) Limited	on mkt purchase	7.32	ord	7,010	7,010
02-Apr-14	BlackRock Fund Advisors	on mkt purchase	7.50	ord	731	731
03-Apr-14	BlackRock Advisors (UK) Limited	on mkt purchase	7.36	ord	1,073	1,073
03-Apr-14	BlackRock Fund Advisors	in specie	n/a	ord	18,702	18,702
03-Apr-14	BlackRock Advisors (UK) Limited	on mkt purchase	7.36	ord	5,193	5,193
03-Apr-14	BlackRock Investment	in specie	n/a	ord	10,300	10,300
	Management (Australia) Limited
03-Apr-14	BlackRock Investment	in specie	n/a	ord	160,503	160,503
	Management (Australia) Limited
03-Apr-14	BlackRock Advisors (UK) Limited	in specie	n/a	ord	-5,391	-5,391

page 2 of 2

ALQ

This is Annexure B of 3 pages referred to in form 604 Notice of change of interests of substantial shareholder

Annexure B

William Stockl, Authorised Signatory

07-Apr-14 Date

4. Present relevant interests

Holder of Relevant Interests	Registered Holder of Securities	Person entitled to be registered as holder (8)	Nature of Relevant Interest (6)	Class and number of Securities	Class and number of Securities	Person's votes
BlackRock (Netherlands)	JPM-JP MORGAN		Power to control the exercise of a right to vote attached	ord	5,045	5,045
B.V.	CHASE - NEW YORK		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock (Netherlands)	SSB-SSB NEW YORK		Power to control the exercise of a right to vote attached	ord	29,844	29,844
B.V.	INSTITUTIONAL		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Advisors (UK)	BNYM-BONY EUROPE -		Power to control the exercise of a right to vote attached	ord	1,073,253	1,073,253
Limited	LONDON		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Advisors (UK)	CB-CACEIS BANK		Power to control the exercise of a right to vote attached	ord	2,286	2,286
Limited	LUXEMBOURG		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Advisors (UK)	CITI-CITIBANK, LONDON		Power to control the exercise of a right to vote attached	ord	382,991	382,991
Limited			to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Advisors (UK)	JPM - J.P. Morgan Zurich		Power to control the exercise of a right to vote attached	ord	24,520	24,520
Limited			to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Advisors (UK)	JPM-JPM CHASE -		Power to control the exercise of a right to vote attached	ord	263,413	263,413
Limited	LONDON		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Advisors (UK)	KAS-KAS BANK -		Power to control the exercise of a right to vote attached	ord	6,807	6,807
Limited	AMSTERDAM		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Advisors (UK)	NT-NORTHERN TRUST		Power to control the exercise of a right to vote attached	ord	110,391	110,391
Limited	CO. - CHICAGO		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Advisors (UK)	RBC-DEXIA BIL-		Power to control the exercise of a right to vote attached	ord	131,020	131,020
Limited	LONDON		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Advisors (UK)	SSB-STATE STREET		Power to control the exercise of a right to vote attached	ord	2,761,197	2,761,197
Limited	DUBLIN		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Advisors, LLC	JPM-JP MORGAN		Power to control the exercise of a right to vote attached	ord	31,254	31,254
	CHASE - NEW YORK		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Asset	NT-NORTHERN TRUST		Power to control the exercise of a right to vote attached	ord	16,544	16,544
Management Canada	CO. - CHICAGO		to securities and/or the power to dispose of securities
Limited			as investment manager or trustee.
BlackRock Asset	SSB-STATE STREET		Power to control the exercise of a right to vote attached	ord	168,928	168,928
Management Canada	SACRAMENTO		to securities and/or the power to dispose of securities
Limited			as investment manager or trustee.
BlackRock Asset	SSB-STATE STREET		Power to control the exercise of a right to vote attached	ord	1,210,643	1,210,643
Management Deutschland	BANK, GERMANY		to securities and/or the power to dispose of securities
AG			as investment manager or trustee.

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ALQ

Holder of Relevant Interests	Registered Holder of Securities	Person entitled to be registered as holder (8)	Nature of Relevant Interest (6)	Class and number of Securities	Class and number of Securities	Person's votes
BlackRock Financial	RBC-ROYAL TRUST -		Power to control the exercise of a right to vote attached	ord	220,802	220,802
Management, Inc.	TORONTO		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Fund Advisors	SSB-SSB NEW YORK		Power to control the exercise of a right to vote attached	ord	16,977	16,977
	INSTITUTIONAL		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Fund Advisors	SSB-STATE STREET		Power to control the exercise of a right to vote attached	ord	4,560,847	4,560,847
	BANK, BOSTON		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Fund Advisors	SSB-STATE STREET		Power to control the exercise of a right to vote attached	ord	2,598,722	2,598,722
	SACRAMENTO		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Institutional	BNYM-MELLON TRUST -		Power to control the exercise of a right to vote attached	ord	450,003	450,003
Trust Company, N.A.	NEW YORK		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Institutional	JPM-JP MORGAN		Power to control the exercise of a right to vote attached	ord	459,479	459,479
Trust Company, N.A.	CHASE - NEW YORK		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Institutional	NT-NORTHERN TRUST		Power to control the exercise of a right to vote attached	ord	110,948	110,948
Trust Company, N.A.	CO. - CHICAGO		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Institutional	SSB-SSB BOSTON		Power to control the exercise of a right to vote attached	ord	1,252	1,252
Trust Company, N.A.	INSTITUTIONAL		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Institutional	SSB-SSB NEW YORK		Power to control the exercise of a right to vote attached	ord	241,182	241,182
Trust Company, N.A.	INSTITUTIONAL		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Institutional	SSB-STATE STATE		Power to control the exercise of a right to vote attached	ord	219,906	219,906
Trust Company, N.A.	HONG KONG		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Institutional	SSB-STATE STREET		Power to control the exercise of a right to vote attached	ord	24,732	24,732
Trust Company, N.A.	BANK, BOSTON		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Institutional	SSB-STATE STREET		Power to control the exercise of a right to vote attached	ord	3,864,292	3,864,292
Trust Company, N.A.	SACRAMENTO		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock International	JPM-JP MORGAN		Power to control the exercise of a right to vote attached	ord	66,932	66,932
Limited	CHASE - NEW YORK		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock International	NT-NORTHERN TRUST		Power to control the exercise of a right to vote attached	ord	138,857	138,857
Limited	CO. - CHICAGO		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Investment	BNP-BNP Paribas Milan		Power to control the exercise of a right to vote attached	ord	8,815	8,815
Management (UK) Ltd			to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Investment	BNYM-BONY EUROPE -		Power to control the exercise of a right to vote attached	ord	112,836	112,836
Management (UK) Ltd	LONDON		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Investment	DANS-DANSKE BANK -		Power to control the exercise of a right to vote attached	ord	6,637	6,637
Management (UK) Ltd	COPENHAGEN		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Investment	HSBC-HSBC - LONDON		Power to control the exercise of a right to vote attached	ord	5,449	5,449
Management (UK) Ltd			to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Investment	NT-NORTHERN TRUST		Power to control the exercise of a right to vote attached	ord	17,441	17,441
Management (UK) Ltd	CO. - CHICAGO		to securities and/or the power to dispose of securities
			as investment manager or trustee.

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Holder of Relevant Interests	Registered Holder of Securities	Person entitled to be registered as holder (8)	Nature of Relevant Interest (6)	Class and number of Securities	Class and number of Securities	Person's votes
BlackRock Investment	SSB-STATE STREET		Power to control the exercise of a right to vote attached	ord	55,620	55,620
Management (UK) Ltd	BANK LUXEMBOURG		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Investment	SSB-STATE STREET		Power to control the exercise of a right to vote attached	ord	23,213	23,213
Management (UK) Ltd	BANK, GERMANY		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Investment	SSB-STATE STREET		Power to control the exercise of a right to vote attached	ord	250,542	250,542
Management (UK) Ltd	LONDON		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Investment	BNYM-MELLON TRUST -		Power to control the exercise of a right to vote attached	ord	128,130	128,130
Management, LLC	NEW YORK		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Investment	BNYM-THE BANK OF		Power to control the exercise of a right to vote attached	ord	35,775	35,775
Management, LLC	NEW YORK		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Investment	JPM-JP MORGAN		Power to control the exercise of a right to vote attached	ord	217,514	217,514
Management, LLC	CHASE - NEW YORK		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Investment	SSB-SSB NEW YORK		Power to control the exercise of a right to vote attached	ord	15,554	15,554
Management, LLC	INSTITUTIONAL		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Japan Co Ltd	JPM-JP MORGAN		Power to control the exercise of a right to vote attached	ord	417,209	417,209
	CHASE - NEW YORK		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Japan Co Ltd	SSB-STATE STREET		Power to control the exercise of a right to vote attached	ord	9,603	9,603
	BANK, BOSTON		to securities and/or the power to dispose of securities
			as investment manager or trustee.
BlackRock Investment	JPM-JPM CHASE -		Power to control the exercise of a right to vote attached	ord	526,112	526,112
Management (Australia)	SYDNEY		to securities and/or the power to dispose of securities
Limited			held in its capacity as investment manager.
BlackRock Investment	NAB-NATIONAL		Power to control the exercise of a right to vote attached	ord	696,420	696,420
Management (Australia)	AUSTRALIA BANK		to securities and/or the power to dispose of securities
Limited	LIMITED - MELBOURNE		held in its capacity as investment manager.
BlackRock Investment	JPM-JPM CHASE -		Power to control the exercise of a right to vote attached	ord	2,098,143	2,098,143
Management (Australia)	SYDNEY		to securities and/or the power to dispose of securities
Limited			held in its capacity as responsible entity.

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ALQ

Annexure C

This is Annexure C of 1 page referred to in form 604 Notice of change of interests of substantial shareholder

07-Apr-14

William Stockl, Date Authorised Signatory

7. Addresses

The addresses of persons named in this form are as follows:

Name	Address
BlackRock Group
BlackRock Inc.	55 East 52nd Street
	New York NY 10055 USA
BlackRock (Netherlands) B.V.	Rembrandt Tower, 17th floor
	Amstelplein
	Amsterdam Netherlands
BlackRock Advisors (UK) Ltd.	Murray House
	1Royal Mint Court
	London, EC3N 4HH, UK
BlackRock Advisors, LLC	100 Bellevue Parkway
	Wilmington, DE 19809
BlackRock Asset Management Canada Limited	161 Bay Street, Suite 2500
	Toronto, Ontario M5J 2S1
BlackRock Asset Management Deutschland AG	Max-Joseph-Straße 6
	80333 Munich, Germany
BlackRock Asset Management North Asia Limited	16/F, 2 Queen’s Road
	Cheung Kong Center
	Hong Kong
BlackRock Financial Management, Inc.	40 E. 52nd Street
	New York, NY 10022
BlackRock Fund Advisors	400 Howard Street
	San Francisco, CA, 94105
BlackRock Institutional Trust Company, N.A.	400 Howard Street
	San Francisco, CA, 94105
BlackRock International Ltd.	40 Torphichen Street
	Edinburgh EH3 8JB
BlackRock Investment Management (Aust) Ltd	Level 26, 101 Collins St
	Melbourne Australia
BlackRock Investment Management (UK) Ltd	12 Throgmorton Avenue
	London EC2N 2DL UK
BlackRock Investment Management, LLC	1 University Square Drive, Princeton, NJ 08540
BlackRock Japan Co. Ltd.	Sapia Tower
	1-7-12 Marunouchi, Chiyoda-ku,
	Tokyo, 100-0005 Japan

page 1 of 1

ALQ

Annexure D

This is Annexure D of 1 page referred to in form 604 Notice of change of interests of substantial shareholder

07-Apr-14 William Stockl, Authorised Signatory Date	07-Apr-14 William Stockl, Authorised Signatory Date
Type of agreement:	Global Master Securities Lending Agreement
Parties to agreement:	Party A - Citigroup Global Markets Limited Party B - HSBC Institutional Trust Services (Asia) Limited
Transfer date:	Refer to Annexure A (transactions identified as collateral transfers)
Holder of voting rights:	BlackRock Asset Management North Asia Limited (as investment manager for the funds)
Are there any restrictions on voting rights? If yes, detail	Yes. Unless otherwise agreed between the parties, the Registered Owner will not exercise any voting rights.
Scheduled return date (if any):	Not applicable.
Does the borrower have the right to return early? If yes, detail	Yes. Upon an Event of Default under the GMSLA, the GMSLA provides, broadly, that both parties payment and delivery obligations will be accelerated and replaced with an obligation of one party to pay a single cash sum to the other determined in accordance with the provisions of the GMSLA (as modified by the Annex). The GMSLA provides that the parties’ right to terminate the Agreement upon notice will not affect the parties’ existing obligations in respect of any outstanding loans of securities. The Annex amended and restricted the Borrower's termination rights–i.e. Borrower may not have the right to terminate and return the borrowed securities - as the Borrower was to borrow the securities issued by it (or its sister company) to provide protection against the insolvency of the issuer and so usual rights of termination in a GMSLA were restricted. Subject to the terms of the relevant Loan, the Borrower, may early terminate a Loan and return Equivalent Securities at any time provided that it “shall cease to have such entitlement if an Act of Insolvency with respect to any Security Issuer or any of the Borrower’s or any Security Issuer’s affiliates has occurred, or any such person takes any steps preparatory to any of the matters which would constitute an Act of Insolvency
Does the lender have the right to recall early? If yes, detail	Yes, at notice.
Will the securities be returned on settlement? If yes, detail any exceptions	Yes.

A copy of this agreement will be provided to ALS Ltd. or the Australian Securities and Investments Commission upon request.

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