Who is the depository bank for Piedmont's ADRs?

BNY Mellon is the depositary bank and plays a key role in the process of issuance and cancellation of ADRs. For more information please visit www.adrbnymellon.com.

What is an American Depositary Receipt (ADR)?

Depositary receipts (DRs) are negotiable U.S. securities issued by a U.S. bank, referred to as a "depositary bank," that typically represent a non-U.S. company's equity. DRs trade freely in global markets and can be listed on major stock exchanges including the New York Stock Exchange, NASDAQ, the London Stock Exchange and the Luxembourg Stock Exchange.

DRs facilitate cross-border trading and may help non-U.S. companies raise capital in global equity offerings or be used as acquisition currency for mergers and acquisitions. DRs allow non-U.S. companies to make their shares available outside their home markets and allow investors in the U.S. and elsewhere to easily invest in companies on a more global basis.

For more information please visit www.adrbnymellon.com/resources/dr-basics.

What is an ADR ratio?

An ADR Ratio provides the number of underlying shares represented by one ADS. 1 Piedmont ADR represent 50 ordinary shares on the Australian Securities Exchange (ASX).

What is the difference between an ADR and an ADS?

An ADR is a negotiable certificate issued by a depository bank to represent a specific number of shares of a foreign company traded on a U.S. exchange. An ADS (American Depositary Share) is the share issued under the ADR agreement which is actually traded.

How can I purchase Piedmont ADRs?

Piedmont ADRs can be purchased through a typical broker, just as you would to buy U.S. securities. You cannot buy ADRs directly from Piedmont.

How do I convert my shares into ADRs?

Converting ordinary shares into ADRs can be done through an investment advisor or broker. Contact BNY Mellon for additional assistance.

To convert your ordinary shares into ADRs:

  1. You need to transfer your ordinary shares of Piedmont to BNY Mellon's local custodian, HSBC Bank Australia Limited (BIC: HKBAAU2SSYD, CHESS PID: 20057, safekeeping account: 011-552130-068). This process is usually completed by your broker via a broker transfer form.
  2. Once BNY Mellon receives confirmation that your underlying ordinary shares have been deposited with HSBC, new ADRs are issued and delivered to your nominated US broker, who is assessed a fee between $0.01 and $0.05 per ADR.
Where are Piedmont's ADRs traded and under what ticker?

Piedmont's ADRs are traded in the US on the NASDAQ Market under the ticker PNRL.

What is the difference between a registered holder and a beneficial ADR holder?

A registered holder is one whose name appears on the books of the depositary. The registered holder is considered the owner of the record. A beneficial holder is one whose holdings are registered in a name other than his or her own, such as the name of the broker, bank, or nominee.

I did not receive a certificate with the purchase of my ADRs. How can I obtain a traditional certificate?

For registered owners, ownership is registered by the depositary bank and is evidence by an account statement provided by the depositary.

Registered owners can hold physical ADR certificates, please contact BNY Mellon for more information. All registered holders, be it in book entry form or certificated, receive dividends and proxy voting materials directly from BNY Mellon.

How are dividends paid and taxed?

Dividends on an ADR are paid in U.S. dollars and are generally taxable, similar to dividends on U.S. shares.

What financial information is available to United States investors?

Piedmont files annual, semi-annual, and special reports alongside other information with the Securities and Exchange Commission (SEC). Please visit www.sec.gov to view our latest filings. You may also read and copy any documents that Piedmont files with the SEC at the Public Reference Room, 100 F Street, N.E., Washington, D.C. 20549, USA or call the SEC on 1-800-SEC-0330 for further information on the Public Reference Room.

What are the benefits of ADRs to United States investors?

Investors in the United States generally prefer to purchase ADRs rather than ordinary shares in the issuer's home market because ADRs trade, clear and settle according to United States market conventions. One of the main advantages to ADRs is the facilitation of diversification into foreign securities. ADRs also allow easy comparison to securities of similar companies as well as access to price and trading information, U.S. dollar dividend payments and corporate action notifications.

For additional questions about ADRs please contact:

BNY Mellon Shareowner Services
P. O. Box 505000
Louisville, KY 40233-5000

U.S. Toll Free Telephone: 1-888-BNY-ADRS (1-888-269-2377)
Telephone for International Callers: 1-201-680-6825
Website: www.mybnymdr.com
E-Mail: shrrelations@bnymellon.com