EFTA01367068.pdf

Amendment #4 Page 639 of 868 Tel*. Significant contonerts of the Operating Entities' deferred tax assets and liabilities at December 31. 2014 and Decanter 31. 2013 are as follows r 31, Figures In ZAR '000 2014 zetti Deferred tax assets O.treti 14 685 Noncurrent 319 782 334 487 Deferred lac assets corset of the following. • ret operalrg losses and tax credit carrylonvards 296123 — - pre4rade expendtures 22 804 22 804 -accrued expenses 15 259 — - asset retirement obligation 13 075 4 108 • other 281 (161) - valuation allowance (13 075) (203 751) 334 487 Deferred tax le blots Currert Non-current (345 515) (345 515) Deferred tax le bribes corset of Me len:ming. Property plant and equipment (345 515) (345 515) In assessing the realization of deferred tax assets, management corsiders whether it is more 'key than not trot some portionor all of the deferred tax assets will not be realized The ultimate realization of deferred tax assets is dependent upon the scheduled reversal of deferred tax labiltes and generation of future taxable income during the periods in vftch the deferred tat assets become deductible During the year ended December 31, 2014, a valuation alowance was recogreed on the tax effect of the Asset Retirement Obligation as here is insttficere evidence to suggest there wn be sufficient taxable ncome dumg the periods in which certain of the deferred tax assets wit be realeed. The operating loss canyfaward penod xs nclefinet subject to canon conditions As at Deoernter 31, 2014 and 2013 the Operating Erases rave identhed no umertain tax romans for when a reserve under ASC 740.10 would be requred. F-319 http://cfdocs.btogo.com:27638/cf/drv7/pub/edgar/2015/07/20/0001193125-15-256461/d78... 7/20/2015 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058596 CONFIDENTIAL SDNY GM_00204780 EFTA01367068