Summary of Amendments to the Revised Guidelines on Issuance of Corporate Bonds and Sukuk to Retail Investors

1 Summary of Amendments to the Revised Guidelines on Issuance of Corporate Bonds and Sukuk to Retail Investors (Revised: 19 July 2019) The following table provides a summary of amendments made to the Guidelines on Issuance of Corporate Bonds and Sukuk to Retail Investors (Guidelines) which were revised on 19 July 2019: Key amendments to specific paragraphs Prior to 19 July 2019 Revision dated 19 July 2019 Remarks PART A: GENERAL PART A: GENERAL Chapter 2: DEFINITIONS Chapter 2: DEFINITIONS Paragraph 2.01 – Definitions Paragraph 2.01 – Definitions  Inserted definition of “BIX”.  Deleted definition of “platform”. Chapter 3: RESPONSIBLE PARTY Chapter 3: RESPONSIBLE PARTY Paragraph 3.06 Paragraph 3.06  Deleted the title “Requirement applicable to issuer, principal adviser and lead arranger”.  Inserted “All Responsible Parties, in particular” at the start of the paragraph.  Inserted “required to be disclosed pursuant to these Guidelines or any other information provided”. PART C: APPROVAL FOR AN ISSUANCE OF CORPORATE BONDS AND SUKUK PART C: APPROVAL FOR ISSUANCE OF CORPORATE BONDS AND SUKUK

2 Key amendments to specific paragraphs Prior to 19 July 2019 Revision dated 19 July 2019 Remarks Chapter 12: CONTINUOUS DISCLOSURE OBLIGATIONS Chapter 12: CONTINOUS DISCLOSURE OBLIGATIONS Corporate Bonds or Sukuk Offered Over￾the-Counter Corporate Bonds or Sukuk Offered Over-the￾Counter Paragraph 12.01 Paragraph 12.01  Substituted the term “the platform” with “BIX”. Paragraph 12.02 Paragraph 12.02  Substituted the term “the platform” with “BIX”. Additional continuous disclosure obligations Additional continuous disclosure obligations Paragraph 12.06(a)(i) Paragraph 12.06(a)(i)  Substituted the term “the platform” with “BIX”. No false and misleading statement or material omission

• Paragraph 12.10  Inserted new paragraph to provide for requirement to ensure no false and misleading statement or material omission in all information disclosed and announcements made on BIX. CHAPTER 13: REVISION TO PRINCIPAL TERMS AND CONDITIONS CHAPTER 13: REVISION TO PRINCIPAL TERMS AND CONDITIONS

3 Key amendments to specific paragraphs Prior to 19 July 2019 Revision dated 19 July 2019 Remarks Notification required Notification required Paragraph 13.07(c) Paragraph 13.07(c)  Substituted the term “the platform” with “BIX”. Upsizing of a debt or sukuk programme Upsizing of a debt or sukuk programme Paragraph 13.13(c) Paragraph 13.13(c)  Substituted the term “the platform” with “BIX”. PART G: REQUIREMENTS FOR ISSUANCE OF CORPORATE BONDS AND SUKUK UNDER THE QUALIFIED ISSUER FRAMEWORK PART G: REQUIREMENTS FOR ISSUANCE OF CORPORATE BONDS AND SUKUK UNDER THE QUALIFIED ISSUER FRAMEWORK Chapter 22: QUALIFIED ISSUER FRAMEWORK Chapter 22: QUALIFIED ISSUER FRAMEWORK Paragraph 22.02(b) Paragraph 22.02(b)  Substituted the term “offered” with “issued” for consistency.