Glencore Announces Tender Offer Early Participation Results and Upsizing of the Aggregate Maximum Tender Amount

Subject to the 2019 Maximum Tender Amount as described in the Offer to Purchase, Notes validly tendered and not validly withdrawn at or prior to the Early Tender Date with an Acceptance Priority Level of 2 have been prorated using a proration factor of approximately 86.59 per cent. All Notes not accepted as a result of proration have been rejected from the Offers.

No Notes tendered after the Early Tender Date have been or will be accepted for purchase. The Offers will expire at 11:59pm on October 31, 2016, New York City time.

Noteholders who validly tendered their Notes pursuant to the Offer to Purchase on or prior to the Early Tender Date and accepted for purchase (subject to proration) will receive the Total Offer Consideration (including the Early Tender Premium), which, in the case of the 3.125 per cent. Notes due 2019, the 2.500 per cent. Notes due 2019 and the 2.125 per cent. Notes due 2018, will be calculated on October 18, 2016 at 11:00am, New York City time. Noteholders who are eligible for the Total Offer Consideration will receive U.S.$1,010.00 for the Floating Rate.

Notes due 2019 and U.S.$1,010.00 for the Floating Rate Notes due 2018., in each case per U.S.$1,000 principal amount of notes. The Company will also pay to Noteholders all accrued and unpaid interest on the applicable Notes (rounded to the nearest U.S.$0.01 with U.S.$0.005 being rounded upwards) (“Accrued Interest”) up to, but not including, the Early Payment Date. The Early Payment Date for each Offer is expected to occur on October 20, 2016.

Subject to applicable securities laws and the terms set within the Offer to Purchase, the Company expressly reserves the right, in its sole discretion, to (i) terminate an Offer and not accept for purchase any Notes not theretofore accepted for purchase, (ii) waive any or all of the conditions of any Offer prior to the date of acceptance for purchase of Notes in that Offer, (iii) extend the Early Tender Date or the Expiration Date, in each case, without extending the Withdrawal Deadline (unless otherwise required by law), (iv) increase or decrease the Aggregate Maximum Tender Amount and/or the 2019 Maximum Tender Amount or (v) amend the terms of any Offer.

Capitalized terms not otherwise defined in this announcement have the same meaning assigned to them in the Offer to Purchase dated October 3, 2016.

Glencore Funding LLC (the “Company”) has accepted U.S.$1,492,056,000 of principal amount of Notes for purchase as of its Early Tender Date today. The Offers commenced on October 3, 2016 and will expire on October 31, 2016 at 11:59pm, New York City time. The Lead Dealer Managers will calculate the Fixed Rate Total Offer Consideration and the Fixed Rate Base Offer Consideration for the Fixed Rate Notes in the manner described in the Offer to Purchase on October 18, 2016 at 11:00am, New York time. In addition, the Company has increased the previously announced “Aggregate Maximum Tender Amount”, pertaining to the aggregate principal amount of the Notes accepted for purchase, from U.S.$1,250,000,000 to U.S.$1,492,056,000.

18 October, 2016