CRRC TANGSHAN CO., LTD. Peer Comparison

CRRC TANGSHAN CO., LTD. TANGSHAN, China

Active Private BvD ID n° CN9367146114 The Global Ultimate Owner of this controlled subsidiary is CHINA- PEOPLE'S REP.

Peer comparison

Year Operating revenue P/L before tax Accounting year: Peer group year (Turnover) th EUR th EUR Median 1,988,046 117,194 Standard deviation 543,584 177,761 Average 1,941,586 79,182

BOMBARDIER TRANSPORTATION GMBH 2016 2,797,711 1 -190,010 10 GREENBRIER COMPANIES INC 2016 2,407,046 2 354,878 1 ZHONG CHE ZHU ZHOU DIAN LI JI CHE YOU XIAN GONG 2016 2,363,616 3 158,954 4 SI CRRC ZHUZHOU LOCOMOTIVE CO., LTD. 2016 2,363,616 3 158,954 4 HYUNDAI ROTEM COMPANY 2016 2,344,618 5 18,134 9 CRRC TANGSHAN CO., LTD. 2016 1,988,046 6 117,194 6 CRRC SIFANG CO., LTD. 2016 1,964,808 7 214,037 2 INNER MONGOLIA FIRST MACHINERY GROUP CO., LTD. 2016 1,372,224 8 75,806 7 CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES, 2016 1,333,992 9 59,329 8 S.A. BOMBARDIER SIFANG (QINGDAO) TRANSPORTATION 2016 1,306,200 10 207,012 3 LTD. GUANGZHOU METRO GROUP CO., LTD. 2016 1,115,569 11 -303,290 11

Data Update 17,302 (05/07/2018) 08/07/2018 - Page 1 © Bureau van Dijk 2018

Year P/L for period [=Net Total assets Accounting year: Peer group year income] th EUR th EUR Median 140,978 2,807,269 Standard deviation 71,808 8,172,162 Average 111,047 5,244,153

BOMBARDIER TRANSPORTATION GMBH 2016 1,003 11 3,899,822 2 GREENBRIER COMPANIES INC 2016 164,582 2 1,649,096 10 ZHONG CHE ZHU ZHOU DIAN LI JI CHE YOU XIAN GONG 2016 140,978 5 2,807,269 6 SI CRRC ZHUZHOU LOCOMOTIVE CO., LTD. 2016 140,978 5 2,807,269 6 HYUNDAI ROTEM COMPANY 2016 17,151 10 3,513,773 3 CRRC TANGSHAN CO., LTD. 2016 98,318 7 3,201,099 5 CRRC SIFANG CO., LTD. 2016 152,612 3 2,242,555 8 INNER MONGOLIA FIRST MACHINERY GROUP CO., LTD. 2016 67,776 8 1,921,164 9 CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES, 2016 35,013 9 3,233,437 4 S.A. BOMBARDIER SIFANG (QINGDAO) TRANSPORTATION 2016 150,513 4 1,432,317 11 LTD. GUANGZHOU METRO GROUP CO., LTD. 2016 252,594 1 30,977,883 1

Data Update 17,302 (05/07/2018) 08/07/2018 - Page 2 © Bureau van Dijk 2018

Year Shareholders funds Number of employees Accounting year: Peer group year

th EUR Median 932,784 8,254 Standard deviation 5,656,565 2,161 Average 2,726,056 7,682

BOMBARDIER TRANSPORTATION GMBH 2016 1,603,071 2 7,361 7 GREENBRIER COMPANIES INC 2016 785,403 8 9,418 2 ZHONG CHE ZHU ZHOU DIAN LI JI CHE YOU XIAN GONG 2016 932,784 6 8,254 5 SI CRRC ZHUZHOU LOCOMOTIVE CO., LTD. 2016 932,784 6 8,500 4 HYUNDAI ROTEM COMPANY 2016 1,093,438 4 n.a. CRRC TANGSHAN CO., LTD. 2016 1,292,000 3 10,000 1 CRRC SIFANG CO., LTD. 2016 565,864 10 6,819 8 INNER MONGOLIA FIRST MACHINERY GROUP CO., LTD. 2016 996,916 5 9,003 3 CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES, 2016 783,677 9 7,587 6 S.A. BOMBARDIER SIFANG (QINGDAO) TRANSPORTATION 2016 413,840 11 2,200 9 LTD. GUANGZHOU METRO GROUP CO., LTD. 2016 20,586,840 1 n.a.

Peer group definition Closest 10 international companies according to the Operating revenue (Turnover) of the subject company for the last available year (2016) amongst the standard peer group. The standard peer group is based on NACE Rev. 2 industry classification: 3020 - Manufacture of railway locomotives and rolling stock.