[th YEAR 2015 / 4 RESULTS OF OPERATIONS OF GLOBAL SOURCES LTD. The following discussion of our financial condition and results of operations should be read in conjunction with the accompanying financial statements. Overview We are a leading business-to-business (“B2B”) media company that provides information and integrated marketing services, with a particular focus on the Greater China market. Our mission] [GLOBAL SOURCES LTD. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In U.S. Dollars Thousands, Except Number of Shares and Per Share Data) As at December 31, As at December 31, 2015 2014 (Unaudited) ASSETS Current assets Cash and cash equivalents $ 70,356 $ 90,223 Term deposits with banks 9,097 4,285 Financial assets, available-for-sale - 3,952 Accounts receivables, net 849 2,269 Receivables from] []

[th YEAR 2015 / 4 RESULTS OF OPERATIONS OF GLOBAL SOURCES LTD. The following discussion of our financial condition and results of operations should be read in conjunction with the accompanying financial statements. Overview We are a leading business-to-business (“B2B”) media company that provides information and integrated marketing services, with a particular focus on the Greater China market. Our mission] [GLOBAL SOURCES LTD. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In U.S. Dollars Thousands, Except Number of Shares and Per Share Data) As at December 31, As at December 31, 2015 2014 (Unaudited) ASSETS Current assets Cash and cash equivalents $ 70,356 $ 90,223 Term deposits with banks 9,097 4,285 Financial assets, available-for-sale - 3,952 Accounts receivables, net 849 2,269 Receivables from] []