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Financials NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2016 30.3 Compensation of key management personnel The remuneration of directors and other members of key management personnel during the year was as follows: Group Company 31-Dec-15 ₦’million 485 31-Dec-16 ₦’million Short-term benefits Provision for staff pension benefits 638 - 638 - 485 31-Dec-16 ₦’million 632 - 632 31-Dec-15 ₦’million 485 - 485 Other related party transactions In addition to the above, Dangote Industries Limited performed certain administrative services for the Company, for which a management fee of ₦3.054 billion (2015: ₦2.839 billion) was charged, being an allocation of costs incurred by relevant administrative departments. 31. Supplemental cash flow disclosures 31.1 Cash and cash equivalents Cash and bank balances Short term deposits Total cash and bank balances Bank overdrafts used for cash management purposes Cash and cash equivalents Group 31-Dec-16 ₦’million 74,001 41,692 115,693 (6,292) 109,401 31-Dec-15 ₦’million 24,907 15,885 40,792 (2,947) 37,845 Company 31-Dec-16 ₦’million 33,173 32,337 65,510 - 65,510 31-Dec-15 ₦’million 8,189 9,773 17,962 - 17,962 32. Operating lease arrangements Operating leases relate to leases of depots with lease terms of between 1 and 3 years. The Group does not have an option to purchase the leased land at the expiry of the lease periods. Payments recognised as an expense Minimum lease payments Non-cancellable operating lease commitments Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years 31-Dec-16 ₦’million Group Company 31-Dec-15 841 31-Dec-16 ₦’million ₦’million 826 31-Dec-16 ₦’million 706 Group Company 31-Dec-15 700 756 - 1,456 ₦’million 545 242 - 787 31-Dec-16 ₦’million 356 74 - 430 31-Dec-15 ₦’million 549 31-Dec-15 ₦’million 341 46 - 387 Annual Report 2016 211

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