REUTERS / Carlo Allegri GLOBAL SYNDICATED LOANS REVIEW MANAGING UNDERWRITERS

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1 REUTERS / Carlo Allegri GLOBAL SYNDICATED LOANS REVIEW MANAGING UNDERWRITERS Full Year 1

2 Full Year 1 MANAGING UNDERWRITERS SYNDICATED LOANS REVIEW Global Syndicated Loans Global Deals Intelligence Leading Underwriters for Table of Contents EMEA Mandated Lead Arrangers (R1) 7 European Leveraged Loans (P) 8 Global Loans - s (R1) 1 EMEA Sponsored Loans (P1) 8 Global Debt & Syndicated Loans (DL1) Global Loans - Mandated Arrangers (R) Top Global Syndicated Loans Global Scorecard Global Loans Rankings - Last Ten Years Americas Syndicated Loans Americas Deals Intelligence Top Americas Syndicated Loans Asia Pacific (Excl. Japan) Syndicated Loans Asia & Australia Deals Intelligence Top Asia Syndicated Loans Asia Loans - Asian Currency (Si) Asia Loans - s (S5c) Asia Loans - Mandated Arrangers (S5b) Australia Loans - s (S7) Top Australia Syndicated Loans Americas Loans - s (R7) Australia Loans - Mandated Arrangers (Sa) Americas Loans - Mandated Arrangers (R8c) US Loans - s (R11) 5 5 North America Loans - s (R) 5 US Leveraged Loans - s (R11a) 5 US Investment Grade Loans - s (R11b) Latin America Loans - Mandated Lead Arrangers (R1) EMEA Syndicated Loans EMEA Deals Intelligence 7 Top EMEA Syndicated Loans 7 EMEA s (R17) 7 Japan Syndicated Loans Japan Deals Intelligence Top Japan Syndicated Loans Japan Loans - s (S1b) Japan Loans - Mandated Arrangers (S1a) Ranking Criteria Summary Syndicated Loans Criteria Summary 1 Regional Contacts Thomson Reuters Solutions for the Deal Making Community

3 Full Year 1 MANAGING UNDERWRITERS SYNDICATED LOANS REVIEW Global Syndicated Lending Totals US$.7 trillion, up % from 1 I US Loans Account for 5% Europe Lending Up % I JP Morgan Tops Rankings Global Deals Intelligence GLOBAL SYNDICATED LENDING INCREASES % FROM 1 Global syndicated lending reached US$.7 trillion during full year 1, a % increase compared to full year 1 and the best annual period for lending since 7. Lending activity during the fourth quarter saw a % increase from the third quarter of this year. Nearly,5 transactions closed during full year 1, an increase of 8% compared to full year 1. AQUISITION FINANCING DRIVES FOURTH QUARTER LOAN ACTIVITY Actavis PLC secured a US$. billion financing package to fund its US$. billion acquisition of Allergan topping the list of syndicated loans closed during full year 1, followed by Medtronic's $US1. billion loan to finance the US$7. billion purchase of Ireland's Covidien PLC and Merck KGaA's US$15. billion loan to acquire Sigma-Aldrich Corp for US$1. billion. US LENDING ACCOUNTS FOR 5% OF ACTIVITY Americas loans accounted for 5% of global loan volume during full year 1, as lending in the region increased by % from the same period last year. Within the Americas, loan volume in the totaled US$. trillion, up 1% compared to the same period last year and representing 5% of global volume. Europe accounted for % of global volumes as lending increased by % compared to full year 1. Asia Pacific fundraising saw a year-over-year increase of %, while Japanese lending fell 1% compared to full year 1. Global Syndicated Loans Volume Proceeds (US$t) $5. Q Volume (US$t) Q Volume (US$t) Q Volume (US$t) Q1 Volume (US$t) $. $. $. $1. 1,, 8,,,, ENERGY & POWER, INDUSTRIALS & FINANCIALS LEAD LENDING Borrowing in the Energy & Power sector totaled US$87. billion during full year 1, accounting for 1% of global loan activity, up from 18% of global lending during full year 1. Healthcare and Consumer Staples led all sectors for syndicated loans, with year-over-year gains of % and 5%, respectively. Energy & Power, Industrials and Financials together accounted for 7% of syndicated loan volume during full year 1, compared to 5% a year ago. $ Global Loans - s (R1) JP MORGAN TOPS BOOKRUNNER RANKINGS JP Morgan maintained the top ranking for global bookrunners, by proceeds, with US$8. billion from 1, transactions during full year 1, a decrease of 1. market share points compared to full year 1. Bank of America Merrill Lynch followed, with US$5.8 billion from 1,88 transactions, or.1% of overall loan proceeds during full year 1. SYNDICATED LENDING FEES UP 1% According to Thomson Reuters/Freeman Consulting, bookrunning fees from global syndicated loans totaled US$17.5 billion during full year 1, an increase of 1% from last year. Fees from leveraged lending decreased % compared to full year 1 and accounted for 7% of all lending fees during full year 1. Leading Underwriters During the Fourth Quarter 1 Market Sector Global Loans (R1) Americas Loans (R7) North American Loans (R) US Loans (R11) US Leveraged Loans (R11a) US Investment Grade Loans (R11b) Latin America Loans (R15) Latin America Loans (R1) EMEA Loans (R17) EMEA Leveraged Loans (P) Asia-Pacific ex. Japan ex. Australia (S5b) Asia-Pacific ex. Japan ex. Australia (S5c) Japan Loans (S1a) Japan Loans (S1b) Australian Loans (S7) Current Qtr Market Share Mkt. Share Chg. No. 1 Manager (%) from Last Qtr (%) BBVA BBVA Deutsche Bank..5 Credit Agricole CIB Industrial & Comm Bank China Industrial & Comm Bank China ANZ Banking Group Proceeds per (US$m) # of Deals per Imputed Fees (US$m) Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. JP Morgan 1 1 8, , , , , , Citi 1, Wells Fargo & Co 7, , , , Deutsche Bank 7 18, Barclays 7 5 1, Mizuho Financial Group 8 8 1, BNP Paribas SA 117, RBS 1, RBC Capital Markets 11, Credit Suisse 1 1, HSBC Holdings PLC , Goldman Sachs & Co , Sumitomo Mitsui Finl Grp Inc , Morgan Stanley 1 1 7, Credit Agricole CIB 17 18, Scotiabank , BMO Capital Markets , Societe Generale 1, State Bank of India 1, US Bancorp 5, Industrial & Comm Bank China 7, SunTrust Banks 7, Bank of China Ltd 5, ,1, , Total,7,1..,8 17,51.. Industry % Change from Same Period Last Year Industry % Change from Last Quarter 7.8% 7.%.% 15.% -.1% -.% 1

4 Full Year 1 Syndicated Loans Managing Underwriters Global Global Debt & Syndicated Loans (DL1) Scorecard: Global Syndicated Loans Proceeds per Mandated Arranger US$m) # of Deals per MA Imputed Fees (US$m) 1/1/1-1/1/1 1/1/1-1/1/1 Mandated Arrangers Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. JP Morgan , , Region/Nation Proceeds (US$m) Proceeds (US$m) 87, , Global,,.,7,,8.1,7 Citi, , Americas,,.,5,551,58.,781 Deutsche Bank 5, , North America,577,.,78,51,.1,8 Barclays , , of America,,8.,88,,5.1,88 Wells Fargo & Co 7, ,57... Canada 7,. 5 15,88. 1 HSBC Holdings PLC 7 7, , Central America 1,5. 1 1,1.7 Goldman Sachs & Co 8 8 5, , Mexico 18,5.7 11,1.5 7 Morgan Stanley, , South America, , Credit Suisse 5, , Brazil 1,1. 5 7,5.7 Top Ten Total,85, , Chile,. 1 5,5. 15 Industry Total,77,..,7 87,.. Europe 1,11,17.8 1,7 85,17. 1,8 Western Europe 1,,1. 1, 755,5. 1, Industry % Change from Same Period Last Year Industry % Change from Last Quarter.% -1.5% 1.% -.% 1.8% -.% United Kingdom Germany 7,1. 11,8. 15,. 1, France 18,11. 17,58. 1 Netherlands 75,1. 5, Spain 7,11.1 1, Global Loans - Mandated Arrangers (R) Switzerland,1. 1 5,7. Proceeds per Mandated Arranger US$m) # of Deals per MA mputed Bookrunning Fees (US$m Italy Sweden,5. 8,.,11.7,. 8 Norway, ,7.7 5 Mandated Arrangers Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. Belgium, ,8. 5 1, , Denmark 1,57.,81. 1 JP Morgan 1 1, , Eastern Europe 5,. 115,7. 1 Citi, Turkey,8. 5,1. 5 1, Russian Federation 1,11.5 5,551. Wells Fargo & Co 5 5 1, Poland 11, , Barclays 1, Hungary, ,5. HSBC Holdings PLC , Africa/Middle East/Central Asia 8, , Deutsche Bank 8 7 1, Middle East 5,1.5 87, BNP Paribas SA 1 1, United Arab Emirates,8. 7 8,. 5 Mizuho Financial Group 8 1, Saudi Arabia 1,. 1 1,1. 17 RBS 11 1, Sub-Saharan Africa,7.8 5,. Sumitomo Mitsui Finl Grp Inc 1 115, South Africa,7. 11,.7 18 RBC Capital Markets 1 1, Nigeria 5, ,7. 18 Credit Suisse 1 1 5, Ghana,5. 5 1,58.8 Credit Agricole CIB , Central Asia,8.8 1, Goldman Sachs & Co , Asia-Pacific (ex Central Asia) 8,75. 1,81 51,78.8 1,5 Morgan Stanley , North Asia, ,15 5, US Bancorp 18 17, China 1, , ING 1, Hong Kong, ,1. 15 BMO Capital Markets 18, Taiwan 1,78.1,1.8 7 Societe Generale 1, South Korea 1,8. 5, Bank of China Ltd 5, South Asia 78, ,. Industrial & Comm Bank China 5, India 7,. 57, Scotiabank 55, Southeast Asia,.7 8,7. TD Securities Inc 5 5, Singapore 5,8.1 8,.,117, , Malaysia 18,11.1 1,. Industry Total,,..,7 77 1,7.7. Indonesia 17,8.1 1, Thailand, ,185.7 Industry % Change from Same Period Last Year 8.8% 8.% -1.% Philippines,517.5,1. 1 Industry % Change from Last Quarter.5% -1.5% -7.% Australasia 15, ,5. 71 Australia 1,5. 1, New Zealand 1,7. 1 1,.7 5 Top Global Syndicated Loans Japan,8. 1,1 77,7.1 1,87 * The Global Scorecard comprises deal volume and counts from club and bookrun deals, mirroring the mandated arranger rankings. Closing Date Borrower Target Market Package Amt (US$m) Primary UOP 1/17/1 Actavis PLC,. Acquisition Fin. 7/1/1 Westfield Group Australia,7.1 Restructuring //1 Wal-Mart Stores Inc 17,. Refin/Ret Bank Debt 11/7/1 Medtronic Inc 1,. Acquisition Fin. //1 ZF Friedrichshafen AG Germany 15,. Acquisition Fin. /1/1 Merck KGaA Germany 15,. Acquisition Fin. 5/1/1 Depository Trust Co 15,5. Refinancing //1 Glencore PLC Switzerland 15,. General Corp. Purp. 11/1/1 Toyota Motor Credit Corp 15,. General Corp. Purp. /18/1 Bayer AG Germany 1,. Acquisition iti Fin. % Chge in Proceeds

5 Full Year 1 Syndicated Loans Managing Underwriters Global Loans Ranking - Last Ten Years* 1 1 JP Morgan Citi Wells Fargo & Co 5 5 Rank Deutsche Bank 7 7 Barclays 8 8 Mizuho Financial Group BNP Paribas SA RBS *League Table positions reflect consolidation within the banking sector. Rankings shown are as of the current quarter end in each calendar year.

6 Americas Proceeds at US$. Trillion US Leveraged Lending Down 7% Latin America Lending Up 85% Full Year 1 Syndicated Loans Managing Underwriters Americas Americas Deals Intelligence Americas Loans - s (R7) Overall syndicated lending in the Americas during 1 increased.5% from 1, with proceeds of US$. trillion Proceeds per (US$m) # of Deals per Imputed Fees (US$m) from,5 transactions. Fourth-quarter totals rose 1.7% over the third quarter. Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch. JP Morgan 1 1 5, , Leveraged lending in the totaled US$1. trillion from,817 deals representing a 7% decrease from total 1, , proceeds raised in 1. Wells Fargo & Co, Citi 1, Loans for general purposes dominated the market in 1, accounting for a % share, with proceeds surpassing Barclays 5 5, RBC Capital Markets 8, US$1 trillion. Refinancing, refinancing bank debt and acquisition financing followed each with a roughly 1% markets Deutsche Bank , share. Credit Suisse 8 8 7, , Although fourth quarter volume in Latin America was down 1.8% from the previous quarter, annual lending in the Goldman Sachs & Co 8, RBS 11 11, region increased significantly from a year ago, with total proceeds of US$57 billion, representing an increase of 85.%. BNP Paribas SA , Morgan Stanley 1 5, BMO Capital Markets 1 1 7, Estimated bookrunning fees for the Americas yielded a.8% higher total in 1 compared to last year, with a total of Scotiabank , US$1.8 billion, according to estimates from Thomson Reuters/Freeman Consulting. Fees paid to bookrunners for US Bancorp 1 1 5, U.S. leveraged loans increased.% compared to a year ago, to a total of over US$. billion. SunTrust Banks 17 1, TD Securities Inc , HSBC Holdings PLC 1 18, CIBC World Markets Inc 1, PNC Financial Services Group 1, Top Americas Syndicated Loans Mizuho Financial Group 5, Closing Date Borrower Target Market Package Amt (US$m) Primary UOP UBS, /17/1 Actavis PLC,. Acquisition Fin. KeyBanc Capital Markets Inc, //1 Wal-Mart Stores Inc 17,. Refin/Ret Bank Debt General Electric Co 5 1, /7/1 Medtronic Inc 1,. Acquisition Fin.,8, , /1/1 Depository Trust Co 15,5. Refinancing Total,7,7.., 1, /1/1 Toyota Motor Credit Corp 15,. General Corp. Purp. /17/1 General Motors Co 1,5. General Corp. Purp. Industry % Change over Same Period Last Year 5.1%.%.8% 11/1/1 Dollar General Corp 1,5. Acquisition Fin. Industry % Change over Last Quarter.% 7.%.% //1 Ford Motor Co 1,1. Refin/Ret Bank Debt 5/7/1 Zimmer Holdings Inc 1,. Acquisition Fin. /11/1 Caterpillar Inc,. Refin/Ret Bank Debt Americas Loans by Industry (Proceeds US$m) US Leveraged Volume $,7.1 % $1,.7 % $5,77. 1% $1,1. % $151,751.5 % $,7. 1% $1,11. 11% $1,.7 % $1,. % $17,5. % $7,5.1 % $1,78. 8% Proceeds (US$b) $1,5 $1, $ $ 1,,1,8 1,77 1,7 1,7,5,5,1,817,,5, 1,5 1, Energy and Power Financials Industrials Healthcare Materials Retail High Technology Consumer Staples Consumer Products and Services Real Estate Media and Entertainment Telecommunications Government and Agencies $ $ Q1 Volume (US$b) Q Volume (US$b) Q Volume (US$b) Q Volume (US$b)

7 Full Year 1 Syndicated Loans Managing Underwriters Americas Americas Loans - Mandated Arrangers (R8c) North America Loans - s (R) Proceeds per Mandated Arranger (US$m) # of Deals per MA Imputed Fees (US$m) Proceeds per (US$m) # of Deals per Imputed Fees (US$m) Mandated Arranger Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch. Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch , , JP Morgan 1 1, , JP Morgan 7, , , , Wells Fargo & Co 18, Wells Fargo & Co, Citi 175, Citi 188, Barclays 5 5 7, Barclays 5 5, , RBC Capital Markets 8, Deutsche Bank 7 1, Deutsche Bank , RBC Capital Markets 8 7, Credit Suisse 8 8 7, Credit Suisse 8 75, Goldman Sachs & Co 8, RBS 1 7, , US Bancorp 11 1, RBS 11 11, BMO Capital Markets , Morgan Stanley 1 5, Morgan Stanley 1 58, BNP Paribas SA , Goldman Sachs & Co , BMO Capital Markets 1 1 7, HSBC Holdings PLC , US Bancorp , BNP Paribas SA , Scotiabank 1 1, TD Securities Inc , SunTrust Banks 17 1, SunTrust Banks , TD Securities Inc , Scotiabank 1 1 5, CIBC World Markets Inc 1 18, PNC Financial Services Group, PNC Financial Services Group, CIBC World Markets Inc 1, HSBC Holdings PLC 1 1, Mizuho Financial Group 5 7, UBS, UBS 1, Mizuho Financial Group, KeyBanc Capital Markets Inc, KeyBanc Capital Markets Inc, Credit Agricole CIB 5 1, General Electric Co 5 1, ,11, , ,18, , Industry Total,,.., ,8.. Total,58,7..,7 1 1,5.8. Industry % Change over Same Period Last Year.5% Industry % Change over Last Quarter 1.7%.%.% -1.% 7.7% Industry % Change over Same Period Last Year.%.1%.% Industry % Change over Last Quarter.5% 7.1%.% US Loans - s (R11) US Leveraged Loans - s (R11a) Proceeds per (US$m) # of Deals per Imputed Fees (US$m) Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch. JP Morgan 1 1 5, , , , Wells Fargo & Co, Citi 18, Barclays 5 5, Deutsche Bank 87, Credit Suisse , Goldman Sachs & Co 8 8, , RBS 5, Morgan Stanley , RBC Capital Markets , BNP Paribas SA 1 1, US Bancorp 1 1 5, SunTrust Banks 15 1, PNC Financial Services Group 1 15, HSBC Holdings PLC 17 17, UBS 18 18, Mizuho Financial Group 1, KeyBanc Capital Markets Inc 1, BMO Capital Markets 1 1 1, General Electric Co 1, Jefferies LLC 18, Credit Agricole CIB 5 1, Scotiabank 5 11, ,1, , Total,,1.7., 8 1,7.. Proceeds per (US$m) # of Deals per Imputed Fees (US$m) Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch , , JP Morgan 17, Wells Fargo & Co 1, Deutsche Bank 1, Credit Suisse 5 5 5, Citi 5, Barclays , Goldman Sachs & Co 8 8, RBC Capital Markets 7, Morgan Stanley, SunTrust Banks 11 1, RBS 1 1, UBS 1 1, Jefferies LLC , General Electric Co , US Bancorp , PNC Financial Services Group , BMO Capital Markets , BNP Paribas SA 1 1 1, , HSBC Holdings PLC 1 11, KeyBanc Capital Markets Inc 11, Credit Agricole CIB 8, Fifth Third Bancorp 7, Regions Bank 5, , , Total 1,157,78..,817-18,.. Industry % Change over Same Period Last Year.8% Industry % Change over Last Quarter.7%.7% 1.% Industry % Change over Same Period Last Year -7.% -.%.% %.%.% Industry % Change over Last Quarter 1.7% % 1.% 7%.7% 5

8 Full Year 1 Syndicated Loans Managing Underwriters Americas US Investment Grade Loans - s (R11b) Top Americas Loans Use of Proceeds (US$m) Proceeds per (US$m) # of Deals per Imputed Fees (US$m) Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch. JP Morgan 1 1, , Citi 1, Wells Fargo & Co 1, Barclays 5 5 8, , RBS 7 7 5, BNP Paribas SA 8 7, Goldman Sachs & Co 5, Deutsche Bank 1, US Bancorp , Credit Suisse 1 1 1, HSBC Holdings PLC 1 1, Mizuho Financial Group , Morgan Stanley , PNC Financial Services Group 1 1 1, RBC Capital Markets , SunTrust Banks , KeyBanc Capital Markets Inc , Scotiabank 15 7, Bank of China Ltd 1 1 5, Credit Agricole CIB 5, BMO Capital Markets 5, UBS 7, CoBank ACB 5, TopTwentyFiveTotal Twenty Total 1,1, , Total 1,8,1.. 1, 7 1,.8. Industry % Change over Same Period Last Year 1.% 11.5% 1.% Industry % Change over Last Quarter 58.7% 1.7%.7% Latin America Loans - Mandated Lead Arrangers (R1) Proceeds per Mandated Arranger (US$m) # of Deals per MA Imputed Fees (US$m) Mandated Arranger Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch. Citi 1, BBVA, BNP Paribas SA 5, HSBC Holdings PLC, Santander 5 8, Mizuho Financial Group, , Sumitomo Mitsui Finl Grp Inc 8, Credit Agricole CIB 11 1, Itau Unibanco 7 1, JP Morgan , , Industrial & Comm Bank China 1 7 1, ING 1 1, Scotiabank , Natixis 1 1, China Development Bank 17 5* 1, Societe Generale 18 1, Standard Chartered PLC Rabobank NV Banco Banorte SA Banca IMI (Intesa Sanpaolo) Deutsche Bank * Banco do Brasil SA Banco Latin Americano Export , Industry Total 5, Industry % Change over Same Period Last Year Industry % Change over Last Quarter *tie 85.% -1.8% 8.8%.% 7.% -8.% $,.5 1% $8,751. $,. $5,. 1% 1% % $,.1 % Americas Yield Type Proceeds (US$b) $1,5,75. % $81,5. % $8,7.5 1% $87,1. 15% $1,7.7 1% General Corporate Purposes Refinancing Acquisition Financing Refinance Bank Debt Leveraged Buyout Project Finance Export/Import Finance Property Acquisition Capital Expenditures 1Q Q Q Q 1Q Q Q Q 1Q Q Q Q 1Q Q Q Q 1Q Q Q Q 1Q Q Q Q Undisclosed (US$b) Highly Leveraged (US$b) Leveraged (US$b) Near Invst Grade (US$b) Investment Grade (US$b) Americas Imputed Fees - Mandated Arrangers Total Imputed Fees (US$b) 1 1 8,1,,,8,8,18,,1,781, Total Imputed Fees (US$b) Number of Deals Full Year 5,,5,,5,,5, 1,5 1, 5

9 Full Year 1 Syndicated Loans Managing Underwriters Europe, Middle East & Africa EMEA Deals Intelligence EMEA Borrowing Up By 5% Republic of Ireland and Austria Targeted Loans Up Significantly BNP Paribas Top EMEA Fee Earner ` EMEA Use of Proceeds (US$b) 1 EMEA syndicated lending for full year 1 reached US$1. trillion, a 5% increase compared to full year 1. Borrowers from the Industrials sector were the main drivers of EMEA activity, accounting for 1% of volume, with borrowers from Energy & Power and Materials receiving 17% and 11% of loans proceeds, respectively. General Corporate Purposes made up 5% of loan proceeds in the year-to-date period, followed by Refinancing of Bank Debt and Acquisition Financing, accounting for % and 1%, respectively. The top target nations in year-on-year activity included Republic of Ireland (up 1.%), Austria (up 1.5%) and Norway (up 8.%).Target nations in decline included Slovenia (down 8.1%), Russian Federation (down 57.1%) and Luxembourg (down.5%). According to Thomson Reuters/Freeman Consulting, 1 arranging fees increased 1% over 1. The leading fee earner in the EMEA region was BNP Paribas SA, with US$. million in proceeds (a.% wallet share). $1.7 % $5. % $. 8% $11. 5% General Corporate Purposes Refinance Bank Debt Acquisition Financing Refinancing Project Finance Top EMEA Syndicated Loans (US$m) ZF Friedrichshafen AG 1 $15,. $15.8 1% $57.5 % Export/Import Finance Leveraged Buyout Merck KGaA Glencore PLC $15,. $15,. Ship Financing Bayer AG $1,. Finance Linked Trade Imperial Tobacco Group PLC $1,7.7 British Sky Bdcstg Grp PLC $11,1.8 Others EMEA s (R17) EMEA Mandated Lead Arrangers (R1) Proceeds per (US$m) # of Deals per Imputed Fees (US$m) Proceeds per MLA (US$m) # of Deals per MLA Imputed Fees (US$m) Market Market # of Market Change in Manager Market Market Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. Mandated Arranger Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. BNP Paribas SA 1 1 5, BNP Paribas SA 1 1 8, Deutsche Bank 5, HSBC Holdings PLC, Citi 7, Barclays 5, Credit Agricole CIB, RBS 5, HSBC Holdings PLC 5 8, Deutsche Bank 5 7, Societe Generale, Credit Agricole CIB 7, JP Morgan 7 11, Societe Generale 7, UniCredit 8 5 1, ING , Commerzbank AG 1, Commerzbank AG, ING 1, Citi 8 8, RBS 11 8, JP Morgan , Barclays 1 1, UniCredit 1, Natixis 1 1, Santander 1 15, , , Santander , , Lloyds Bank , Lloyds Bank 1 17, , Natixis , Mizuho Financial Group 18 1, Sumitomo Mitsui Finl Grp Inc 18 18, Nordea 1 1, Nordea 1 1 1, Credit Suisse 1, SEB 5 1, DNB ASA 1 5 1, BBVA 1 18, Morgan Stanley 1 11, Goldman Sachs & Co 1 17, SEB, Mizuho Financial Group 1, Standard Chartered PLC 18, Morgan Stanley 7 1, Goldman Sachs & Co 5, Credit Suisse 5 15, , , , , Total 81, ,5.. Industry Total 1,,.1. 1,7 8,7.1. Industry % Change from Same Period Last Year 7.5% 15.8% 18.% Industry % Change from Last Quarter -1.% -.7% -.% Industry % Change from Same Period Last Year Industry % Change from Last Quarter.5% -1.% 1.% 1.% -.% -.% Club deal volume is not included in Thomson Reuters' League Tables; however, Mandated Lead Arrangers volumes include both bookrun and club transactions. 7

10 Full Year 1 Syndicated Loans Managing Underwriters Europe, Middle East & Africa European Leveraged Loans (P) Proceeds per (US$m) # of Deals per Imputed Fees (US$m) Market Market # of Market Change in Manager Market Market Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. Credit Agricole CIB 1 1, Deutsche Bank 1 1, BNP Paribas SA 11, JP Morgan, UniCredit 5 7, HSBC Holdings PLC 5 7, Goldman Sachs & Co 7 8 7, ING 8 1, Societe Generale 18, Morgan Stanley Credit Suisse ,1. 5, Nomura , Natixis 1 5, RBS 1 7 5, , Barclays 1, Citi Commerzbank AG Nordea 17 18* 18* ,77.,157., Santander 8, UBS 1 1, Lloyds Bank 1, DNB ASA, Rabobank NV 1, Scotiabank 5 7 1, , , Total 15,.5. 1,78.5. Industry % Change from Same Period Last Year 1.%.% 15.% Industry % Change from Last Quarter -8.% -51.% -51.% EMEA Sponsored Loans (P1) Proceeds per (US$m) # of Deals per 1 Rank 1 Rank Proceeds Market Share % Market Share Ch. # of Deals Market Share % Change in # of Deals Manager Fees Market Share % Market Share Ch. Deutsche Bank 1 1 8, BNP Paribas SA 7, Credit Agricole CIB, JP Morgan, Goldman Sachs & Co 5 5, UniCredit 5, Nomura 7 8 5, ING 8 11, Credit Suisse 15, Natixis, Societe Generale 11 1, HSBC Holdings PLC 1 5, Barclays 1 18, UBS 1, Morgan Stanley , Lloyds Bank 1 1, Nordea , , RBS 1 1 1, Commerzbank AG 1 1, Citi Mizuho Financial Group RBC Capital Markets Rabobank NV Landesbank Baden-Wurttemberg 5 8* , , Total 1, ,.. Industry % Change from Same Period Last Year.% 17.% 8.8% Industry % Change from Last Quarter -.5% -57.% -.1% Imputed Fees (US$m) EMEA Quarterly Syndicated Loan Volume Proceeds (US$m) $, $5, $, $5, $, $15, $, $5, $ 7 EMEA Proceeds (US$m) Number of deals Q1 Q Q Q Q1 Q Q Q Q1 Q Q Q Q1 Q Q Q Q1 Q Q Q Q1 Q Q Q EMEA Syndicated Loans by Industry (US$b) 1 Industrials $. % $5. Energy and Power 1% Materials EMEA Imputed Fees Jan 1- Dec 1 Total Imputed Fees (US$m) $8, $7, $, $5, $, $, $, $1, $ $57.5 $.5 5% 5% $.1 5% $8. % 1,7 $8. % 1,5 $5. 5%,8 $1.7 11% 1,8 $ % 1,1 1,8 $.8 17% 1,5 1,55 Financials Consumer Staples Total Imputed Fees (US$m) Number of Deals 1, Media and Entertainment Healthcare Retail Telecommunications 1,7 5 Consumer Products and Services High Technology Real Estate

11 Asia & Australia Syndicated Loans - Highest on Record l Liaoning Hongyanhe - Largest Deal in the Fourth Quarter Full Year 1 Syndicated Loans Managing Underwriters Asia (ex-japan) Asia & Australia Deals Intelligence Asia (ex Australia) syndicated lending totaled US$7. billion from 1,5 dealsin 1, posting an 18.5% increase from 1 and representing the largest totals on record in the region. Chinese targeted transactions primarily drove market activity, up 18% from 1 with total transaction value of US$1. billion from 5 deals. The Lioaning Hongyanhe Nuclear CY. billion (US$. billion equivalent) loan was the largest deal completed in the fourth quarter. The project finance facility was solely mandated and bookrun by Bank of China and closed in December. Up.% from 1, Australian syndicated lending totals reached US$1.5 billion from deals, posting the highest annual volume on record. Restructuring volume targeted in Austalia amounted to US$.1 billion from a single deal - the Westfield Group loan - the largest Real Estate transaction for the year. According to Thomson Reuters/Freeman Consulting, estimated fees from Asian syndicated lending totaled US$1 billion in 1, down 7.7% from 1. In Australia, estimated fees were US$78. million, up.5% from 1. Top Asia Syndicated Loans (Ex Japan, Ex Australia) MMG Ltd SapuraKencana TMC Sdn Bhd Oversea-Chinese Bkg Corp Ltd HongKong Electric Co Ltd Ministry of Economy & Public Venetian Macau US Finance Co Marina Bay Sands Pte Tata Steel Ltd Liaoning Hongyanhe Nuclear Asia Loans - s (US$, EURO, JPY, A$, HK$ & S$) (Si) $,5. $,771. $,717. $,8. $,85. $,788. $,. $5,88. 1 $,57. Proceeds per (US$m) # of Deals per Arranger Imputed Fees (US$m) Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. Standard Chartered PLC 1 1 8, DBS Group Holdings, HSBC Holdings PLC, ANZ Banking Group 8, State Bank of India 5, Industrial & Comm Bank China 1 5, Mizuho Financial Group 7 5, , Deutsche Bank, BNP Paribas SA 1, Sumitomo Mitsui Finl Grp Inc 11, United Overseas Bank Ltd 1 1, China Development Bank 1, RBS 1 11, Bank of China Ltd 15 5, Oversea-Chinese Banking 1 17, Credit Agricole CIB 17 1, Credit Suisse 18 8, Citi 1 1, ING 15, Top Twenty Total, Total 17, Asia Loans - s (All Currencies) (S5c) Proceeds per (US$m) # of Deals per Imputed Fees (US$m) Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. Industrial & Comm Bank China 1 1, State Bank of India 1, Bank of China Ltd, China Development Bank 1 1, Standard Chartered PLC 5 5, HSBC Holdings PLC 7, DBS Group Holdings , Korea Development Bank 8 7 7, ANZ Banking Group 1, Mizuho Financial Group, , Deutsche Bank 1 1 5, BNP Paribas SA 1 5, China Construction Bank 1, Sumitomo Mitsui Finl Grp Inc 15 18, Bank of Taiwan 1 1, Bank of Communications Co Ltd 17 8, Axis Bank Ltd 18 15, Malayan Banking Bhd 1, Agricultural Bank of China 17, United Overseas Bank Ltd 1 8, RBS, Credit Agricole CIB, Oversea-Chinese Banking, Fubon Financial Holding Co Ltd 5, , Total,7.. 1, Industry % Change from Same Period Last Year 1.% Industry % Change from Last Quarter -1.1% Asia Loans - Mandated Arrangers (All Currencies) (S5b) 1.5% -1.% -5.% -17.% Proceeds per Mandated Arranger (US$m) # of Deals per Arranger Imputed Fees (US$m) Mandated Arranger Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. Industrial & Comm Bank China 1, State Bank of India, Bank of China Ltd 1, China Development Bank 1, HSBC Holdings PLC , Standard Chartered PLC 15, DBS Group Holdings 7 5 1, Sumitomo Mitsui Finl Grp Inc , ANZ Banking Group 15, , Mizuho Financial Group 11, Oversea-Chinese Banking 1 1, United Overseas Bank Ltd 1 1 8, China Construction Bank 1 8 8, Korea Development Bank 15 7, BNP Paribas SA 1, Deutsche Bank 17 5, Bank of Communications Co Ltd , Agricultural Bank of China , Malayan Banking Bhd 5 5, Credit Agricole CIB 1, CITIC, Axis Bank Ltd 1, Bank of Taiwan, ING 5, , Industry Total 7,8.1. 1,5 5 1,5.. Industry % Change from Same Period Last Year 15.% -1.8% -5.7% Industry % Change from Same Period Last Year 18.5% 5.% -7.7% Industry % Change from Last Quarter -.5% -18.% -1.% Industry % Change from Last Quarter %.% -.% % -.% %

12 Australia Loans - s (All Currencies) (S7) Full Year 1 Syndicated Loans Managing Underwriters Asia (ex-japan) & Australia Australia Loans - Mandated Arrangers (All Currencies) (Sa) Proceeds per (US$m) # of Deals per Imputed Fees (US$m) Proceeds per Mandated Arranger (US$m) # of Deals per Arranger Imputed Fees (US$m) Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. Mandated Arranger Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. ANZ Banking Group 1 1, ANZ Banking Group , Westpac Banking, Westpac Banking 1, National Australia Bank 8, National Australia Bank 1, Commonwealth Bank of Australia 8, Commonwealth Bank of Australia 15, Mizuho Financial Group 5 1, HSBC Holdings PLC 5 7 5, , Sumitomo Mitsui Finl Grp Inc 5, HSBC Holdings PLC 7 8 1, Credit Agricole CIB 7 1, Sumitomo Mitsui Finl Grp Inc 8 5 1, , RBS 11 1, Scotiabank, Credit Agricole CIB 18 1, RBS 1, Top Ten Total 5, Top Ten Total, Total 5, Industry Total 1, Industry % Change from Same Period Last Year 15.% 1.1% -1.7% Industry % Change from Last Quarter.% 5.% 5.5% *tie Industry % Change from Same Period Last Year.% Industry % Change from Last Quarter -18.% -5.5%.%.5% -18.% Top Australia Syndicated Loans 1 Asian Loans by Maturity Date Westfield Group Roy Hill Holdings Pty Ltd $7,15.1 $, Proceeds (US$b) Oi Origin i Energy Ltd APA Group Vodafone Hutchison Finance Stella EWL FInance Pty Ltd $,. $,. $,5. $,7.7 Proceeds (US$b) Viva Energy Pty Ltd American Express Credit Corp Sun Group Finance Pty Ltd $,5. $1,88. $1, $5.7 $51.7 $1.5 $1. $ Australian Loans Proceeds by Industry (US$m) Real Estate Financials 1 Asian Loans by Currency (%) Full Year $,. % 8.8, %., 78., % % $18,.7 % $,.7 % $,8. 1% $,87.8 % $,7.5 % $8,. % $7,. 8% $,1.8 5% Energy and Power Industrials Materials Telecommunications Media and Entertainment Healthcare Consumer Staples Consumer Products and Services High Technology Retail 8.% 1.% 5.%.%.%.%.1%.7% 5.% 55.%.1%.7% 5.% 5.% 71.8% 8.% 5.8%.1% 5.7% 5.% Local Currency G

13 Japanese Syndicated Lending Down 1% Industrials Top Sector Non Japanese Borrower Activity Up % Full Year 1 Syndicated Loans Managing Underwriters Japan Japan Deals Intelligence Japan Loans - s (S1b) Japanese syndicated lending for full year 1 reached US$. billion, down.7% compared to 1, the lowest annual volume since 7 s US$. billion in proceeds. A total of 1,1 syndicated loans deals were recorded in 1, a.8% increase compared to 1 s 1,87 deals. Industrials remained the leading sector for Japanese syndicated loans, accounting for 1.8% of the Japanese lending activity, with proceeds reaching US$7. billion from deals. Borrowing in the Financials sector with US$ billion in proceeds from 15 deals for a 1% market share. Non-Japanese borrowers' involvement on Japanese deals increased by % in 1 compared to 1, registering US$. billion in proceeds from deals. Top Ten Deals 1 Closing Date Borrower Package Amt (US$m) //1 JX Holdings Inc,5. /7/1 1/1/1 //1 Itochu Corp Mitsubishi Corp Sumitomo Corp,5.1,5.,.5 /1/1 Marubeni Corp,. /7/1 NEC Corp,. /11/1 Mitsubishi Heavy Industries,5. 8/5/1 Suntory Holdings Ltd 1,. /15/1 Fujitsu Ltd 1,88.7 //1 Yugen Kaisha Tokyo Prime Stage 1,858. Overall Japan Loans Volume Primary UOP Oper Fund / Cash Res Refinancing Proceeds per (US$m) # of Deals per Market Market # of Market Change in Rank Rank Proceeds Share % Share Ch. Deals Sh % # of Deals Mizuho Financial Group 1 1 7, , Sumitomo Mitsui Finl Grp Inc 5, Development Bank of Japan Inc 7, Citi 5, Sumitomo Mitsui Trust Holdings 8, Resona Holdings Inc 7, Bank of Yokohama 8, Aozora Bank Ltd 11 1, BNP Paribas SA Credit Agricole CIB Bank Ltd Shinsei Bank Tokyo Star Bank Goldman Sachs & Co Nishi-Nippon City Bank Ltd Shinkin Central Bank Nomura ANZ Banking Group 1* * Standard Chartered PLC 1* * Deutsche Bank HSBC Holdings PLC Fukuoka Financial Group Inc UBS Iyo Bank Ltd , Total 15,.. 1,88 $5 Q Proceeds (US$b) Q Proceeds (US$b),5 Industry % Change from Same Period Last Year -1.%.% Industry % Change from Last Quarter -1.8% -.% Proceeds (US$b) $ $5 $ $15,8,,18,51 Q Proceeds (US$b) Q1 Proceeds (US$b) 1,8 1,87 1,8 1,1 1,58 1,1, 1,5 1, Japan Loans Proceeds by Industry (US$m) 1 $17,8.5 8.% $1,..% $,5.1.% $1,7.1.% $,..%. $7,8. 1.8% $5, % $,8. 1.% $ $5 5 Industrials Energy and Power High Technology Financials Materials Consumer Staples Real Estate Consumer Products and Services $ Retail Healthcare Media and Entertainment Government and Agencies 11

14 Full Year 1 Syndicated Loans Managing Underwriters Japan Japan Loan Volume - Non-Japanese Borrowers Japan Loans - Mandated Arrangers (S1a) Proceeds (US$ m) $,5 $, $,5 $, $1,5 $1, $5 $ Proceeds (US$m) 1 No. of Deals Q1 Q Q Q Q1 Q Q Q Q1 Q Q Q Q1 Q Q Q Q1 Q Q Q Q1 Q Q Q Proceeds per Mandated Arranger (US$m) # of Deals per MA Market Market # of Market Change in Mandated Arranger Rank Rank Proceeds Share % Share Ch. Deals Sh % # of Deals Mizuho Financial Group 1 1 7, , Sumitomo Mitsui Finl Grp Inc 58, Sumitomo Mitsui Trust Holdings 5, Development Bank of Japan Inc 5, Resona Holdings Inc, Citi 7, Bank of Yokohama 8 1, Aozora Bank Ltd 1 1, Credit Agricole CIB 7 1, BNP Paribas SA Shinsei Bank Nomura Hiroshima Bank Ltd Tokyo Star Bank Goldman Sachs & Co Bank Ltd Nishi-Nippon City Bank Ltd Shinkin Central Bank Deutsche Bank Hokuhoku Financial Group Inc Taishin International Bank * 7* ING * 7* Sapporo Hokuyo Holdings Inc , Industry Total,8.. 1,1 71 Industry % Change from Same Period Last Year -.7%.8% Industry % Change from Last Quarter -.8% -.% *tie Japan Loan Volume by Maturity Date Japan Loans - Top Uses of Proceeds (US$m) 1 Proceeds (US$b) $5 $ $15 $ $ Proceeds(US$b) 1 1 1,8 1, 1, 1, 1, 8 $8,.1 % $1,1.1 7% $18,75. % $8,711. 1%. $115,5.8 5% General Corporate Purposes Operating Fund/Cash Reserve Refinancing Capital Expenditures Property Acquisition Acquisition Financing Refinance Bank Debt $ & Beyond Future Acquisitions Project Finance 1

15 Full Year 1 Syndicated Loans Managing Underwriters Ranking Criteria Summary If you would like to participate in the submission process, receive quarterly press releases, or have questions about league table criteria please contact: Americas Salvatore Reres Tel: Europe Ewelina Jarecka Tel: Asia-Pacific Carina Causon-Israel Tel: Japan Megumi Kono Tel: Database coverage includes all loan transactions that have reached financial close by the submission deadline and of which Thomson Reuters has been made aware. All current and previous year's data is as of 1:pm EST on December 1, 1. - Global, Americas, EMEA, Asia-Pacific and Japan bookrunner and mandated arranger league table volumes and rankings are based on general close date instead of financial close date. - Bilateral, self-arranged, commercial and unknown loans are excluded from league tables as well as loans with a maturity of less than days. - All league tables are based on deal proceeds unless otherwise specified. Regional league tables are based on Target Market. - league tables will give full credit to the bookrunner, equal if joint. In cases of consolidation, credit will be given to the surviving/parent firm - Mandated Arranger league tables will give equal credit to the Non-Americas mandated arranger and equal credit to the Americas Tier 1 agent. In cases of consolidation, credit will be givien to the surviving/parent firm. - Imputed fees are calculated using Freeman Consulting proprietary algorithm where spreads or fees are not disclosed. Deal fees are on a gross basis before all expenses. Each underwriter or advisor is allocated its share of deal fees using Freeman & Co. allocation methodology, based on the number of underwriters or advisors on the deal and their role. No fees are allocated to syndicated members. - Non-US dollar denominated transactions are converted to the US dollar equivalent at the time of pricing. - league tables include club syndicate transactions that are sold down in the syndication process to firms that were not part of the original club syndicate. Mandated Arranger league tables include all club syndicate transactions, regardless of sell-down process. - and Mandated Arranger league tables only include amendments that require % lender vote for the following amendments: decrease in pricing, change in tenor if maturity is extended by a period of more than days, guarantor or collateral release. An increase in deal size after syndication has ended will be reflected as an add on tranche. - League table volumes for and Morgan Stanley, included herein, reflect changes after the commencement of their jointly established securities firms in Japan: (1) Mitsubishi UFJ Morgan Stanley Securities and () Morgan Stanley MUFG Securities. Credit for the newly established joint ventures rolls up to Morgan Stanley. For Japanese involvement league tables Morgan Stanley will be represented as "Mitsubishi UFJ Morgan Stanley". - Thomson Reuters Investment Banking loans data is compiled in conjunction with Loan Pricing Corporation (LPC). In combination, Thomson Reuters Investment Banking and LPC offer the most comprehensive and accurate view of the syndicated loans market available. While Thomson Reuters has used reasonable endeavors to ensure that the information provided in this document is accurate and up to date as at the time of issue, neither Thomson Reuters nor its third party content providers shall be liable for any errors, inaccuracies or delays in the information, nor for any actions taken in reliance thereon, nor does it endorse any views or opinions of any third party content provider. Thomson Reuters disclaims all warranties, express or implied, as to the accuracy or completeness of any of the content provided, or as to the fitness of the content for any purpose to the extent permitted by law. The content herein is not appropriate for the purposes of making a decision to carry out a transaction or trade and does not provide any form of advice (investment, tax, legal) amounting to investment advice, nor make any recommendations or solicitations regarding particular financial instruments, investments or products, including the buying or selling of securities. Thomson Reuters has not undertaken any liability or obligation relating to the purchase or sale of securities for or by any person in connection with this document. 1 Thomson Reuters. All rights reserved. Thomson Reuters and the Thomson Reuters logo are registered trademarks and trademarks of Thomson Reuters and its affiliated companies. Any third party name or mark herein belongs to the relevant third party. 1

16 Thomson Reuters Solutions for the Deal Making Community FOR INFORMATION PROFESSIONALS SDC Platinum is the world s foremost financial transactions database, covering new issues, M&A, syndicated loans, private equity, project finance, poison pills, and more. Solution for: Market Analysis & Trends (Geography, Sector, Asset Class, Deal Type, Deal Size, etc.) Deal Origination (Debt Maturity Analysis, Company Lifecycle including Private Equity) Pitch Creation (Firm Credentials, Representative Acquirors) M&A Targeting (Active Strategic/Sponsor Acquirors, Target Company Screener) Negotiation (T&C Benchmarking) FOR STRATEGY AND PLANNING TEAMS Thomson Reuters Deals Business Intelligence enables you to slice and dice our renowned Deals and Fees data to create ad hoc reports, analyze market trends, benchmark your performance and identify opportunities all within a tool built into your workflow in Excel, saving you valuable time and giving you a competitive edge. Solution for: Conducting market analysis and identifying trends Benchmarking your performance and monitoring competitors Targeting clients by wallet size and banking relationship Allocating resources more effectively by evaluating and analyzing lost deals FOR INVESTMENT BANKERS Thomson Reuters Eikon is the most intuitive and comprehensive way of staying informed. With natural-language search, you can quickly find global information, news, charts and analytics. Company and industry views provide top-level summaries, and then detailed information is just a click away. Identify new opportunities and gain deep understanding of markets, industries, companies and events. Thomson Reuters Eikon also includes an Add-In for Microsoft Office to help you increase your efficiency. From screening and targeting to comparables analysis, building league tables, valuing a company and developing a client pitch book, you can do all this without leaving Microsoft Office. Search and autosuggest features in Excel make model-building easier. Solution for: Managing Client Relationships Deal Origination New Issues Pre-Marketing/Roadshows Financial Modeling Customized League Tables Simple Deals screening Valuation analysis and comparable deal screening On-brand pitch book creation Send us a sales enquiry at: financial.thomsonreuters.com/sales Read more about our products at: financial.thomsonreuters.com/products To purchase individual Thomson Reuters Deals or League Table reports, please contact our Thomson Reuters On Demand group: Web: Access unique analysis for free anytime using Thomson Reuters Deals Intelligence website and receive regular updates, delivered direct to your inbox. Go to: dmi.thomsonreuters.com/dealsintelligence 1 Thomson Reuters. /1. Thomson Reuters and the Kinesis logo are trademarks of Thomson Reuters. 1

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