Non clamped colors in 1.1?

[lxdengar]

I must be missing something basic here. This is the test scene, scanline from Max9-64 bit.

EXR settings are 16-bit half, no Real Pixel, exponent 1, pre-mult.

Here's a capture in Nuke. Notice there are no values above 1.

What am I missing? Thanks for the help.