MERGERS & ACQUISITIONS REVIEW FINANCIAL ADVISORS. REUTERS / Lucas Jackson

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1 MERGERS & ACQUISITIONS REVIEW FINANCIAL ADVISORS REUTERS / Lucas Jackson First Half 0

2 First Half 0 Mergers & Acquisitions s M&A y Review Table of Contents Global M&A Any European Involvement Announced (AD) 0 Any New Zealand Involvement Announced (AD) Global Deals Intelligence Any European Involvement Completed (AF) 0 Any New Zealand Involvement Completed (AF) Scorecard: Worldwide Announced M&A Any UK Involvement Announced (AD) Japan M&A Scorecard: Worldwide Completed M&A Any UK Involvement Completed (AF) Japan Deals Intelligence Top Fifteen Worldwide Announced Deals Any French Involvement Announced (AD) Top Ten Japanese Involvement Announced Deals Worldwide Announced (AD) Any French Involvement Completed (AF0) Any Japanese Involvement Announced (AD) Worldwide Completed (AF) Any Spanish Involvement Announced (AD) Any Japanese Involvement Completed (AF) Americas M&A Any Spanish Involvement Completed (AF) Fairness Opinion Rankings 0 Americas Deals Intelligence Any German Involvement Announced (AD) Worldwide Announced Fairness Opinion 0 Top Ten US Announced Deals Any German Involvement Completed (AF) Any Americas Announced Fairness Opinion 0 Any Americas Involvement Announced (AD) Any Italian Involvement Announced (AD) Any USAnnounced Fairness Opinion 0 Any Americas Involvement Completed (AF) Any Italian Involvement Completed (AF) Any EMEA Announced Fairness Opinion 0 US Target Announced (AD) Any Nordic Involvement Announced (AD) Any Asia Pacific Announced Fairness Opinion 0 US Target Completed (AF) Any Nordic Involvement Completed (AF) Any Japanese Announced Fairness Opinion 0 Any US Involvement Announced (AD) Any Benelux Involvement Announced (AD0) Any US Involvement Completed (AF) Any Benelux Involvement Completed (AF) Criteria Summary Any Canadian Involvement Announced (AD) Asia Pacific (exjapan) M&A Mergers & Acquisitions Criteria Summary Any Canadian Involvement Completed (AF) Asia Pacific (exjapan) Deals Intelligence Regional Contacts EMEA M&A European Deals Intelligence Top Ten Any Asia (exjapan) Involvement Announced Deals Any Asia (exjapan) Involvement Announced (AD) Thomson Reuters Soultions for the Deal the Deal Making Community Top Ten European Involvement Announced Deals Any Asia (exjapan) Involvement Completed (AF) Any EMEA Involvement Announced (AD) 0 Any Australian Involvement Announced (AD) Any EMEA Involvement Completed (AF) 0 Any Australian Involvement Completed (AF)

3 First Half 0 FINANCIAL ADVISORS MERGERS & ACQUISITIONS REVIEW Worldwide M&A Up 0% l Strong Gains for Large Cap Deals, Energy and Healthcare M&A Drive Strongest First Half Since 00 l Goldman Sachs Top Advisor Global Deals Intelligence WORLDWIDE M&A UP 0%, STRONGEST FIRST HALF FOR DEAL MAKING SINCE 00 Powered by a % increase in the number of deals over $ billion, which account for recordbreaking 0% of announced M&A value, worldwide M&A totaled US$. trillion during the first half of 0, a 0% increase from comparable 0 levels and the strongest opening half for worldwide deal making since 00. Sixtytwo deals with a value greater than $ billion were announced during the first half of 0, their combined value more than double the level seen during the first half of 0. NUMBER OF DEALS RISE % Almost 0,00 worldwide deals were announced during the first half of 0, a % increase compared to last year. Second quarter 0 M&A totaled US$. trillion, a % increase by value and % by number of deals compared to the first quarter of 0, marking the first trilliondollar plus quarter since the second quarter of 00. Worldwide Completed M&A by Region Imputed Fees Americas EMEA $ Asia Pacific Japan $ UNITED STATES & ASIA PACIFIC M&A HIT ALLTIME RECORDS M&A activity for United States targets totaled US$.0 trillion during the first half of 0, an increase of 0% compared to the level of activity seen during the first half of 0 and the strongest opening half for US M&A since records began in 0. With US$. billion in announced deals during the first half of 0, Asia Pacific M&A also registered the strongest first six month period for deal making in the region since records began. ENERGY & POWER, HEALTHCARE, & TECH LEAD ACTIVITY Driven by oil & gas M&A, deal making in the Energy egy& &Power sector totaled US$. billion during the first half of 0, an increase of % compared to 0 levels, while Healthcare and Technology M&A increased % and %, respectively. With US$. billion in announced deals during the first half of 0, the Financial sector saw the only yearoveryear percentage decline, down % compared to the first six months of 0. CROSS BORDER M&A UP 0% Cross Border M&A activity totaled US$0. billion during the first half of 0, accounting for % of overall M&A volume and a 0% increase over first half 0 levels. Cross border M&A accounted for % of total M&A activity during the first half of 0. Imputed Fees (US$b) $ $ $ COMPLETED M&A ADVISORY FEES UP % According to estimates from Thomson Reuters/Freeman Consulting, M&A advisory fees from completed transactions totaled US$. billion during the first half of 0, a.% increase from the comparable period in 0. Worldwide Cross Border Volume $0 Q0 Q0 Q0 Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Worldwide Announced Buyside Financial Sponsor Activity Rank Value (US$b) $,000 $,00 $,00 $,00 $,00 $,000.% $0..%.%.%.%.% $..% $0. $. Q Volume (US$b) Q Volume (US$b) Q Volume (US$b) Q Volume (US$b) % of YTD Global M&A.%.% 0.% $0.0 $00 $. $. $. $. $. $0. $. $00 $0. $. $. $0. $. $. $. $. $. $00 $. $. $. $0. $. $00 $0. $. $0. $. $. $. $. $. $. $.0 $.0 $. $ % % 0% % 0% % 0% % 0% % 0% % of Global M&A Rank Value (US$b) $00 $00 $00 $00 $00 $00 $00 $00 $00 $0 Q Volume (US$b).% Q Volume (US$b).% Q Volume (US$b) Q Volume (US$b) $. % of YTD Global M&A $0..% $.0.0%.%.%.%.% $0. $0..% $. $.0 $..% $. $0. $. $. $. $0. $. $. $. $0. $. $0. $. $.0 $0. $. $. $. $. $. $. $. $0. $. $. $. $. $. $.0 $ % 0% % 0% % 0% % of Global M&A

4 First Half 0 Mergers & Acquisitions s Mergers & Acquisitions Scorecard: Worldwide Announced M&A Jan June 0 Scorecard: Worldwide Completed M&A Jan June 0 Worldwide Announced M&A Target Industry by Value Target Region/Nation //0 /0/0 //0 /0/0 Rank Val US$m No. Deals Rank Val US$m No. Deals % Change in Rank Value Target Region/Nation //0 /0/0 Rank Val No. US$m Deals //0 /0/0 Rank Val No. US$m Deals % Change in Rank Value Worldwide,0,. 0,,,., 0. Worldwide,,0.,,,.,0.0 Americas,0,.,,.,0 0. Americas,.,0,0.,. Caribbean,.0,.. Caribbean 0,., Central America 0,.,0. 0. Central America,.0 0,0.. Mexico,.,0.0. Mexico,.,.. North America,0,0.,,.,.0 North America,.,,.,. United States,00,., 0,., 0. United States,.,,.,0. Canada,.,0.. Canada,. 0,0.. South America,0. 0,.. South America,00. 0,.. Brazil,0.,. 0. Brazil,.,.. Chile,.,. 0.0 Chile,.,0.0. Africa/Middle East,0.,.. Africa/Middle East,. 0,. 0. Middle East,0. 0,0.. Middle East 0,.0,0. 0. North Africa,0. 0,0.. North Africa,0.,.. SubSaharan Africa,. 0,.. SubSaharan Africa,. 0,.0.0 Europe 0,.,,.0,. Europe,.,,.,.0 Eastern Europe,0.,,.,0. Eastern Europe,.,0,., 0.0 Western Europe,., 0,., 0.0 Western Europe 0,., 00,.,.0 United Kingdom,.,,.,. United Kingdom,.,0,0.,0. France,., 0,.,00. Republic of Irelan,.,.. Switzerland,00.,.. France,.,,.,00. AsiaPacific,.,,.,0. AsiaPacific,.,,., Australasia,.,.. Australasia,.,0. 0. Australia,.,.. Australia 0,.,.0. New Zealand,.0,.0. Papua New Guin,00.,.. South East Asia,.0,..0 South East Asia,.,.. Singapore,. 0,0. 0. Singapore,.,.. Malaysia,., Malaysia,0.,.. North Asia,.0,0,., 0. North Asia 0,.,,.,. China,.,,.,. China,.,. 0. Hong Kong,.,.. Hong Kong,. 0 0,.0. South Asia,0. 0,. 0. South Asia,.,.. Central Asia.,0.. Central Asia,. 0,.. Japan,.,,.,0. Japan,.,...%.% 0.%.%.%.%.%.%.%.%.%.% Energy and Power Healthcare High Technology Real Estate Financials Materials Media and Entertainment Industrials Telecommunications Consumer Staples Consumer Products and Services Retail Government and Agencies Top Fifteen Worldwide Announced Deals Rank Date //0 //0 //0 //0 //0 /0/0 //0 //0 //0 //0 //0 //0 /0/0 //0 //0 Date Effective Intended //0 //0 //0 Target (% Sought/Acquired) BG Group PLC (00%) Time Warner Cable Inc (.%) The Williams Cos Inc (00%) Kraft Foods Group Inc (00%) Mylan NV (00%) Cigna Corp (00%) Syngenta AG (00%) Hutchison Whampoa Ltd (0.0%) Broadcom Corp (00%) Cheung Kong (Hldg) Ltd Ppty (00%) Perrigo Co PLC (00%) Enbridge IncLiquids (00%) SK Holdings Co Ltd (.%) Pharmacyclics Inc (00%) Baxter IntlBiopharmaceuticals (0.%) Acquiror Royal Dutch Shell PLC Charter Communications Inc Energy Transfer Equity LP HJ Heinz Co Teva Pharmaceutical Industries Anthem Inc Monsanto Co Cheung Kong(Holdings)Ltd Avago Technologies Ltd Shareholders Mylan NV Enbridge Income Fund SK C&C Co Ltd AbbVie Inc Shareholders Jan June 0 0 Acquiror / Target Nation Rank Value (US$m) Target Macro / Mid Industry Netherlands / United Kingdom,00. Energy and Power / Oil & Gas,. Media and Entertainment / Cable 0,0. Energy and Power / Oil & Gas,. Consumer Staples / Food and Beverage Israel / United States 0,. Healthcare / Pharmaceuticals,. Healthcare / Healthcare Providers & Services (HMOs) United States / Switzerland,. Materials / Chemicals Hong Kong / Hong Kong,0. Telecommunications / Telecommunications Services,. High Technology / Semiconductors Hong Kong / Hong Kong,. Real Estate / Other Real Estate United States / IrelandRep,. Healthcare / Pharmaceuticals Canada / Canada,. Energy and Power / Pipelines South Korea / South Korea,0. Energy and Power / Oil & Gas,.0 Healthcare / Pharmaceuticals,. Healthcare / Biotechnology

5 First Half 0 Mergers & Acquisitions s Worldwide Rankings Worldwide Announced (AD) Jan June 0 Worldwide Completed (AF) Jan June Rank Value Market Market # of Market Change in 0 0 Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh ($) # of Deals, ,0....,. 0.., , , , , , ,... 0., , , , , ,. 0, ,., Guggenheim Securities LLC 0 0,0.,0.,0., ,.,000.,00. 0, Greenhill & Co, LLC 0,., Anglo Chinese Corp Finance Perella Weinberg Partners LP * 0,0., LionTree Advisors LLC Allen & Co Inc Anglo Chinese Corp Finance,0.,0.,., Somerley RBC Capital Markets China International Capital Co,.,0.,0., Robey Warshaw LLP 0, Wells Fargo & Co 0, Somerley 0, Macquarie Group, RBC Capital Markets, , BMO Capital Markets, , Macquarie Group, Jefferies LLC, Moelis & Co, Zaoui & Co 0, ,0, , +,, , 0, %.0% Note: s include multiple competing bids for the same target..%.%.0%.0%.%.%.%.% Top WW Announced M&A Advisors by Target Industry Jan June 0 Top Worldwide Announced M&A Advisors by Transaction Size (AD) Jan June 0 0 Energy and Power Healthcare High Technology Real Estate Financials Mkt. Rank Val US$m Rank Share,.,0.., ,..,.,. 0.,0..0 0,.0.,.,.. 0,0..,.. 0,. 0,0.0.,..,0..,.0,0..,..,. 0. No. Deals,,,,, 0 Rank Value (US$bil) $00 $00 $00 $00 $00 $00 $00 $00 $ Goldman Sachs & Co.0... Morgan Stanley Bank of America Merrill Lynch BG Group PLC/Royal Dutch Shell Mylan/Teva Pharmaceutical Industries Kraft Foods Group/HJ Heinz Co The Williams Cos/Energy Transfer Equity LP Time Warner Cable/Charter Communications Other Top Deals All Other Transactions.... Centerview Partners LLC.. Deutsche Bank. 0.

6 First Half 0 Mergers & Acquisitions s Worldwide M&A Matrix Exit Multiple Matrix Average Rank Value / EBITDA 0 UP 0 DOWN 0 Consumer Products and Services Consumer Staples Energy and Power Healthcare High Technology Industrials Materials Media and Entertainment Real Estate Retail Telecommunications Average.x.x.x 0.x.x.x.0x.x.x.x.x.x World Americas USA Canada EMEA Europe Asia ex. Japan Jan June 0.x 0.x.x 0.x.x.x.x.x.x.x.0x.x.x.x.x.x.0x.x.x.x.x.x.x.x.x 0.x.x.x.0x.x.x.x 0.x.0x.x.x.x.0x.x.x.0x.x.x 0.x 0.x.x.0x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.0x.0x.0x.x.0x.x.0x.x.0x.x 0.x.0x.x.x.x.x.0x.x.0x.x.x.x 0.x.0x.x.x 0.x.x 0.x.x 0.x.x.x.x.x.x.x.x.x.x.0x 0.x.x.x.x.x.x.x.x.x.x.x.x.x.x 0.x.0x.x.x.x 0.x.x.x.x.x.0x.x.0x.x 0.x.x.x.x.x.x 0.x.x.x.x.x.x.x.0x.x.0x.x 0.x 0.x.x.x.x.x.x.x.x.x.x.x.x 0.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x 0.x.x.x.0x.0x.x.x.x.x.x.x.x UK Japan Bid Premium Matrix Average Premium to Week Stock Price Jan June 0 0 UP 0 DOWN Consumer Products and Services Consumer Staples Energy and Power Financials Healthcare High Technology Industrials Materials.0 Media and Entertainment. Real Estate.0 Retail. Telecommunications. Average. World Americas USA * Using the valuations matrix you can analyze the average rank value to EBITDA and average premium to week stock price prior to announcement by nation/region, which is indicated in the top row and broken down by target macro industries. * The data given refers to the time period 0/0/0 0/0/0 and all spinoffs, splitoffs, open market repurchases, exchange offers and equity carveouts are excluded. * The figures in red indicate a decline, while green indicates an increase, compared to the figures from the same time period last year listed in black. * Additionally, for Rank Value/EBITDA the data is capped at 0x and for average premium to week stock price prior to announcement is capped at 00%. Canada..0 EMEA Europe UK Asia ex. Japan Japan

7 First Half 0 Mergers & Acquisitions s Worldwide Announced Rankings* A Decade in Review Bank of America Merrill Lynch Rank * League Table positions reflect consolidation within the banking sector. Rankings shown are as of the current quarter end in each calendar year

8 Americas M&A up % Healthcare Volume Drives US Activity Canadian Activity Rises 0% First Half 0 Mergers & Acquisitions s Americas M&A Americas Deals Intelligence Americas M&A volume in the first half of 0 increased.% over totals reached in the same period a year ago, accruing US$. trillion in activity from, announced deals. Estimated fees generated from completed deals in the Americas totaled US$0. billion, a % increase from fees earned in the first half of 0. US Targeted M&A also posted significant gains, rising 0.% over announced M&A in the first half of 0. UStargeted volume accrued a total of US$ trillion during the first half of 0, driven by,0 deals. The Healthcare sector led the US market, with deal volume totaling US$. billion, accounting for a.% market share. Energy & Power followed, accruing US$. billion for a.% share of the market. High Technology rounded out the top sectors, with US$. billion and a.% share of the market. Accumulating US$. billion in transaction value, announced Canadian Involvement activity rose 0.% over the totals reached during the first half of 0. Completed Canadian Involvement activity was down.% compared to the same period last year, accruing US$. billion from deals. Asia ex. Japan targets enjoyed the highest average exit multiples in the first half of 0 (.x), followed by the US (.x). Overall average multiples across industries saw a modest increase compared to the first half of 0, with the biggest increases coming in High Technology, which rose to.x from.x in the first half of last year. US Announced Advisors by Target Industry Jan June 0 0 Rank Val Mkt. No. (US$m) Rank Share Deals Healthcare,. 0,. 0.,0..,.. Energy and Power,. 00,..,..,.. High Technology,. 00,.. 0,..,0.. Media and Entertainment 0,0.,0.. LionTree Advisors LLC,..,.. Consumer Staples,.,. *.,. *.,.0. US Target Announced M&A Target Industry by Value (US$ bil) Jan June 0 0 US Buyside Financial Sponsor Activity 0.0 Q Volume (US$b) 0.0%.% Q Volume (US$b).%.%. Q Volume (US$b) 00.0 Q Volume (US$b) 0.0%.%.%.% % of WW FS Volume YTD %.%.%.% 0.0%.% 00.0.%.%.%.0%.% %.%.% %. 0.0.% % Healthcare Energy and Power High Technology Media and Entertainment. Consumer Staples Real Estate Financials Consumer Products and Services % Materials Industrials Telecommunications Retail Government and Agencies 0.0% Top Ten USTarget Announced Deals Jan June 0 0 Rank Date Date Effective Target (% Sought/Acquired) Acquiror Acquiror / Target Nation Rank Value (US$m) Target Macro / Mid Industry //0 Time Warner Cable Inc (.%) Charter Communications Inc,. Media and Entertainment / Cable //0 The Williams Cos Inc (00%) Energy Transfer Equity LP 0,0. Energy and Power / Oil & Gas //0 Kraft Foods Group Inc (00%) HJ Heinz Co,. Consumer Staples / Food and Beverage //0 Mylan NV (00%) Teva Pharmaceutical Industries Israel / United States 0,. Healthcare / Pharmaceuticals /0/0 Cigna Corp (00%) Anthem Inc,. Healthcare / Healthcare Providers & Services (HMOs) //0 //0 //0 Broadcom Corp (00%) Pharmacyclics Inc (00%) Avago Technologies Ltd AbbVie Inc,.,.0 High Technology / Semiconductors Healthcare / Pharmaceuticals //0 Baxter IntlBiopharmaceuticals (0.%) Shareholders,. Healthcare / Biotechnology //0 /0/0 Regency Energy Partners LP (00%) Energy Transfer Partners LP,. Energy and Power / Oil & Gas //0 Hospira Inc (00%) Pfizer Inc,0. Healthcare / Pharmaceuticals Rnk Val US$bil

9 First Half 0 Mergers & Acquisitions s Americas Rankings Any Americas Involvement Announced (AD) Jan June 0 Any Americas Involvement Completed (AF) Jan June Rank Value Market Market # of Market Change in 0 0 Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals, ,..0..,..., , , , , , , , , , , , ,... 0., , , , , Guggenheim Securities LLC, , , Perella Weinberg Partners LP, LionTree Advisors LLC, , Greenhill & Co, LLC, RBC Capital Markets, Allen & Co Inc, Wells Fargo & Co, , , RBC Capital Markets, Jefferies LLC, , , BMO Capital Markets, , , Macquarie Group 0, Blackstone Group LP, Stifel/KBW, Macquarie Group, Houlihan Lokey 0, Moelis & Co, Itau Unibanco, Jefferies LLC 0, Greenhill & Co, LLC, Houlihan Lokey, , ,, , 00,. 00.0,0 0, %.%.0%.%.%.%.%.%.%.0% Note: s include multiple competing bids for the same Target. US Target Announced (AD) Jan June 0 US Target Completed (AF) Jan June Rank Value Market Market # of Market Change in 0 0 Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals,0...., , , , , , , ,... 0., ,... 0., , , , , ,... 0., Guggenheim Securities LLC 0, , ,... 0., LionTree Advisors LLC, Wells Fargo & Co, Allen & Co Inc, RBC Capital Markets, Greenhill & Co, LLC, Jefferies LLC 0, , , , Stifel/KBW 0, Blackstone Group LP, Houlihan Lokey 0, RBC Capital Markets, , Houlihan Lokey,.... Greenhill & Co, LLC, , , Jefferies LLC, Perella Weinberg Partners LP, , Macquarie Group, Macquarie Group, Moelis & Co, Wells Fargo & Co, Qatalyst Partners, PJT Partners LP, Guggenheim Securities LLC 0, ,00,. 00.0,0,. 00.0, +, % 0.%.0%.% Note: s include multiple competing bids for the same Target..%.%.%.%.%.%

10 First Half 0 Mergers & Acquisitions s Americas Rankings Any US Involvement Announced (AD) Jan June 0 Any US Involvement Completed (AF) Jan June Rank Value Market Market # of Market Change in 0 0 Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals 0,.0...,...0.0,0...,. 0..., , , , , ,0....0, , , ,..0.., ,0....0, , , Guggenheim Securities LLC 0, , , , , Perella Weinberg Partners LP 0, LionTree Advisors LLC, Wells Fargo & Co, Greenhill & Co, LLC, RBC Capital Markets, Allen & Co Inc, Jefferies LLC, , , , Stifel/KBW, Blackstone Group LP, Houlihan Lokey 0 0, , , Macquarie Group 0, Macquarie Group 0 0, RBC Capital Markets, , Houlihan Lokey, , Jefferies LLC, Greenhill & Co, LLC, Moelis & Co, Moelis & Co, Wells Fargo & Co, Qatalyst Partners, ,, ,0, , +0, %.% 0.%.%.% 0.%.%.0%.%.% Any Canadian Involvement Announced (AD) Jan June 0 Any Canadian Involvement Completed (AF) Jan June Rank Value Market Market # of Market Change in 0 0 Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals RBC Capital Markets,...., BMO Capital Markets,...., , , , , ,... 0., , , , , , , CIBC World Markets Inc, Lenner & Partners *, , Danske Bank *, TD Securities Inc, RBC Capital Markets, Lenner & Partners *, Scotiabank, Danske Bank *, , INFOR Financial Inc, CIBC World Markets Inc, , , Sandler O'Neill Partners, Sycomore Corporate Finance SAS, Moelis & Co, TD Securities Inc, Macquarie Group, BMO Capital Markets, , Macquarie Group, Scotiabank 0, GMP Capital Corp 0, GMP Capital Corp, , Ernst & Young LLP,... 0., FirstEnergy Capital Corp, Desjardins Group, Numis *, Canaccord Genuity, Willis Capital Markets *, Raymond James Financial Inc, ,. 00.0, 0, , %.%.0%.%.%.%.% 0.%.%.%

11 EMEA Announced M&A Up 0% Energy & Power Highest Valued Sector Financial Sponsor Activity drops First Half 0 Mergers & Acquisitions s EMEA M&A EMEA Deals Intelligence Announced M&A activity with EMEA involvement totaled US$. billion in the first half of 0, up.% compared to the US$. billion reached the same period last year. Estimated fees accumulated on EMEA deals completed in the first half of 0 were up.% from the same period last year, totaling US$. billion, according to estimates from Thomson Reuters/Freeman Consulting. The Energy & Power sector led the EMEA marketplace, with deals totaling a combined US$. billion, including the BG Group and Royal Dutch Shell deal valued at US$ billion. Healthcare accrued US$. billion, and Materials totaled US$ billion of activity. Financial sponsors were less active this year compared to the same period in 0. EMEAtargeted buyside financial sponsor activity reached US$. billion in the first half of 0, down.% from the US$. billion reported for the same period last year. Acquirors listed on the Amsterdam Exchange were EMEA's most acquisitive companies this year, with a combined total of US$. billion in offers. EMEA Involvement Announced Advisors by Target Industry Mkt. Rank Val US$m Rank Share Energy and Power,.,0..,00..,.. Healthcare,.,..,.. Materials,.,..,..,. 0. Telecommunications,.,.0. Moelis & Co 0,..,.. Industrials,.,0..,0..,.. No. Deals, Jan June 0 0 Primary Listing of Most Acquisitive EMEA Companies Top 0 (US$b) Jan June 0 0 EMEA Targeted Financial Sponsor Investments (Buyside Sponsor Activity) $. $.0 $. $. $. $. $. $.0 $. $. Amsterdam Nasdaq Euronext Paris Swiss Stock Exchange New York Zurich Nasdaq Madrid OMX Stockholm BMFBOVESPA Rank Value (US$b) $00 $0 $00 $0 $00 $0 $0.% Q Volume (US$b) Q Volume (US$b) $. Q Volume (US$b).%.% $0. Q Volume (US$b).% % of YTD EMEA M&A.% $..%.% $0. $. 0.%.% $. $..% $0.0 $. $. $. $. $. $. $. $. $. $. $. $0. $. $. $. $.0 $. $. $. $. $. $. $. $.0 $. $. $. $. $ % 0% % 0% % 0% % of EMEA Top Ten EMEA Involvement Announced Deals Rank Date //0 //0 //0 //0 //0 //0 //0 //0 //0 /0/0 * Undisclosed Date Effective Target (% Sought/Acquired) Acquiror Acquiror / Target Nation BG Group PLC (00%) Royal Dutch Shell PLC Netherlands / United Kingdom Mylan NV (00%) Teva Pharmaceutical Industries Israel / United States Intended Syngenta AG (00%) Monsanto Co United States / Switzerland Perrigo Co PLC (00%) Mylan NV United States / IrelandRep O PLC (00%) Hutchison Whampoa Ltd Hong Kong / United Kingdom Alcatel Lucent SA (00%) Nokia Oyj Finland / France Delhaize Group SA (00%) Koninklijke Ahold NV Netherlands / Belgium Bouygues Telecom SA (00%) Numericable SFR SA France / France Rexam PLC (00%) Ball UK Acquisition Ltd United Kingdom / United Kingdom Towers Watson & Co (00%) Willis Group Holdings PLC United Kingdom / United States Jan June 0 0 Rank Value (US$m) Target Macro / Mid Industry,00. Energy and Power / Oil & Gas 0,. Healthcare / Pharmaceuticals,. Materials / Chemicals,. Healthcare / Pharmaceuticals,. Telecommunications / Wireless,. Telecommunications / Telecommunications Equipment,. Retail / Food & Beverage Retailing,0.0 Telecommunications / Wireless,.0 Materials / Containers & Packaging,. Consumer Products and Services / Professional Services

12 First Half 0 Mergers & Acquisitions s EMEA Rankings Any EMEA Involvement Announced (AD) Jan June 0 Any EMEA Involvement Completed (AF) Jan June Rank Value Market Market # of Market Change in 0 0 Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals 0, , , , , , ,... 0., , , , , , , Robey Warshaw LLP, , , , Greenhill & Co, LLC 0, Perella Weinberg Partners LP 0, ,... 0., ,... 0., , , , Zaoui & Co 0, , , Zaoui & Co, , Moelis & Co, , Mediobanca 0, , Macquarie Group, RBC Capital Markets, , , Banca IMI (Intesa Sanpaolo) 0, Macquarie Group 0, Davy 0, Jefferies LLC, Societe Generale, Ernst & Young LLP, SEB, Kempen and Co NV * 0 0, , Puhl GmbH & Co KG * 0, , ,0, ,, %.%.%.%.0%.%.%.%.%.0% Any European Involvement Announced (AD) Jan June 0 Any European Involvement Completed (AF) Jan June Rank Value Market Market # of Market Change in 0 0 Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals,... 0., , , ,0., ,., ,... 0., Robey Warshaw LLP, , , , , , ,...., , Perella Weinberg Partners LP 0, , , , , ,... 0., , Zaoui & Co 0, Zaoui & Co, , Moelis & Co, , Mediobanca 0, , Macquarie Group, , Greenhill & Co, LLC, RBC Capital Markets, Banca IMI (Intesa Sanpaolo) 0 0, , Societe Generale, Macquarie Group 0, SEB, Jefferies LLC, , Ernst & Young LLP, , Kempen and Co NV * 0, UniCredit, Puhl GmbH & Co KG * 0, ,. 00.0,,. 00.0,, %.%.% 0.%.%.%.%.%.%.% te 0

13 First Half 0 Mergers & Acquisitions s EMEA Rankings Any UK Involvement Announced (AD) Jan June 0 Any UK Involvement Completed (AF) Jan June Rank Value Market Market # of Market Change in 0 0 Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals,. 0..., , , , , , , Robey Warshaw LLP, , ,., ,., , , , Zaoui & Co, Moelis & Co 0,., ,., ,...., , RBC Capital Markets, Macquarie Group 0, *, Greenhill & Co, LLC,... 0., , *, Perella Weinberg Partners LP, Macquarie Group, RBC Capital Markets,., Jefferies LLC Ernst & Young LLP 0 0 0,. 0, Santander 0 *, , Union Square Advisors LLC *,., Robey Warshaw LLP,0., Qatalyst Partners UniCredit * 0*,.0, Stifel/KBW,0., Oakley Capital Ltd, Scotiabank, , , 0, ,0, %.% 0.%.%.%.%.0%.%.%.% Any French Involvement Announced (AD) Jan June 0 Any French Involvement Completed (AF0) Jan June Rank Value Market Market # of Market Change in 0 0 Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals, , ,... 0., , , Zaoui & Co,., ,0.0, ,.... +, ,... 0., , , , Itau Unibanco *, ,.... Societe Generale 0, ,... 0., Davy *, Sycomore Corporate Finance SAS, Goodbody Stockbrokers *, Credit Agricole CIB, Societe Generale,....0, , Blackstone Group LP 0*, , Messier & Associes, , Natixis, Credit Agricole CIB,0.... Industrial & Comm Bank China *, Cushman & Wakefield Inc, , Natixis 0, Mediobanca 0, Industrial & Comm Bank China * *, Bucephale Finance, Guotai Junan Securities *, Barber Hauler Capital Advisers, Jefferies LLC... 0., RBC Capital Markets * , Mediobanca Guotai Junan Securities, ,. 00.0, +, , %.% 0.% 0.%.0%.% 0.%.%.%.%

14 First Half 0 Mergers & Acquisitions s EMEA Rankings Any Spanish Involvement Announced (AD) Jan June 0 Any Spanish Involvement Completed (AF) Jan June Rank Value Market Market # of Market Change in 0 0 Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals, , Moelis & Co,., ,0., ,.... +, ,., ,., ,., Macquarie Group 0,., Deloitte, , ,0.0, ,., Societe Generale, N+, BBVA *, ,., Mediobanca * , Banca IMI (Intesa Sanpaolo) * Santander 0,0., Santander Deloitte KPMG Mediobanca * Cushman & Wakefield Inc Banca IMI (Intesa Sanpaolo) * AZ Capital * BBVA Valence Group Ernst & Young LLP Blackstone Group LP , Raymond James Financial Inc , %.%.% 0.%.%.%.%.%.%.% Any German Involvement Announced (AD) Jan June 0 Any German Involvement Completed (AF) Jan June Rank Value Market Market # of Market Change in 0 0 Rank Value Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals Rank Rank US$m Sh (%) Share Ch., ,...,... 0., UniCredit 0, ,. 0.., ,.0.., ,..., ,.0.., ,..., ,. 0..,....,0... Ernst & Young LLP 0,., Kempen and Co NV 0 *,0. 0,..... Altium Capital Limited *, Puhl GmbH & Co KG * 0,..., Zaoui & Co,0... Mizuho Financial Group, ,0... *, ,... Sumitomo Mitsui Finl Grp Inc , *,...0 MidCapital Macquarie Group *,.. 0. Mediobanca Bain & Co *,... Gaw Capital Partners Aon Corp *,... Guggenheim Securities LLC Greenhill & Co, LLC,0.0.. Deloitte Jefferies LLC,...0 CBRE Holding SAS * Houlihan Lokey *,0... Qatalyst Partners Sumitomo Mitsui Finl Grp Inc *,...0 Augusta & Co PLC ,...,.0 0.0,0, # of Market Change in Advisor Market Market Deals Sh (%) # of Deals Fees Sh (%) Share Ch %.% 0.% 0.%.%.%.%.%.%.%

15 First Half 0 Mergers & Acquisitions s EMEA Rankings Any Italian Involvement Announced (AD) Jan June 0 Any Italian Involvement Completed (AF) Jan June Rank Value Market Market # of Market Change in 0 0 Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals,0..0.., , , Mediobanca 0,0.,.,., Stifel/KBW * * *,.,.,., ,.... Banca IMI (Intesa Sanpaolo) 0, , Mediobanca, * 0, , Banca IMI (Intesa Sanpaolo) 0 0,.... 0, *,.... +, ,.... +, BDT & Co LLC, Leonardo & Co , Equita SIM SpA, Ernst & Young LLP , Societe Generale IMAP, , UniCredit UniCredit 0, * First Annapolis Capital 0*, Credit Agricole CIB Boston Consulting Group 0*, Lincoln International * Leonardo & Co, BDO Credit Agricole CIB, KPMG Piper Jaffray Cos, KPMG Altium Capital Limited * , , %.0%.%.%.%.%.%.0%.%.% Any Nordic Involvement Announced (AD) Jan June 0 Any Nordic Involvement Completed (AF) Jan June Rank Value Market Market # of Market Change in Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals, ,... 0., Zaoui & Co, SEB, , , Danske Bank, Lenner & Partners, , Deloitte, Pangea Property Partners AB, Catella AB, Nordea, MidCapital Mooreland Partners LLC Kempen and Co NV 0* * ING 0* ABN AMRO Bank 0* OXEYE Advisors B.V. 0* CFI * Moelis & Co , Rank Value Market Market # of Market Change in Advisor Market Market, , SEB, Danske Bank, Lenner & Partners, Deloitte 0*,0.,., , , , Nordea,0., Swedbank Carnegie,.,., Pangea Property Partners AB 0*, Arctic Securities ASA, Global M&A, *, China International Capital Co Clairfield International FTI Consulting Inc * M&A International * 0* Catella AB , %.%.% 0.%.%.%.0%.0%.%.%

16 First Half 0 Mergers & Acquisitions s EMEA Rankings Any Benelux Involvement Announced (AD0) Jan June 0 Any Benelux Involvement Completed (AF) Jan June Rank Value Market Market # of Market Change in 0 0 Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals 0,.... +, ,.... +, , , ,...., Robey Warshaw LLP,00., ,., , , ,0., ,0., , Kempen and Co NV 0* 0, Zaoui & Co, Puhl GmbH & Co KG 0* 0, LionTree Advisors LLC *, Perella Weinberg Partners LP *, PJT Partners LP *, Banco BTG Pactual SA *, *,., ,0., Rand Merchant Bank, Leonardo & Co 0*, Rabobank NV KPMG 0,., ING 0,., ,... 0., Societe Generale 0, , EFG Hermes Brokerage UAE LLC, Rabobank NV, Jefferies LLC, KPMG 0, ,..0.. RBC Capital Markets, Industrial & Comm Bank China *, , Blackstone Group LP, Societe Generale, , , % 0.%.%.% 0.% 0.%.%.% 0.%.% EMEA Inv. Announced M&A Target Sector by Value ($bil) Jan June 0 0 Quarterly EMEA Cross Border Volume $.0 $. $. $. $. $. $. $. $. $. $.0 $. ` Rank Value (US$b) $00 $00 $00 $00 $00 $00 $00 Inbound (US$b) Outbound (US$b) Number of deals,00,000,00,000 # of Deals Energy and Power Healthcare Materials Telecommunications $00 00 Industrials Real Estate Financials High Technology $00 Media and Entertainment Retail Consumer Products and Services Consumer Staples $

17 First Half 0 Mergers & Acquisitions s Asia Pacific (exjapan) M&A Asian M&A Rises % I Imputed Fees Up 0% I Australian M&A Up % Asia Pacific (exjapan) Deals Intelligence The value of announced Mergers & Acquisitions involving Asian companies reached US$0. billion in the first half of 0, a % increase compared to the first half of 0 (US$.billion). The Real Estate sector led the Asian market, with deal volume totaling US$. billion. High Technology followed closely accruing US$. billion. The Telecommunications industry in Asia saw the most significant increase in activity, accruing US$ billion in deal volume, from just US$. billion during the same period a year ago. This increase in activity was driven by Cheung Kong (Holdings) Ltd's US$. billion acquisition of the remaining 0.0% interest it did not already owner in Hutchison Whampoa Ltd and Hutchison Whampoa Ltd's US$. billion acquisition of Telefonica's O PLC. Imputed Fees earned for the region were estimated at US$. billion, a 0% increase from the US$. billion earned during the same period last year, according to Thomson Reuters/Freeman Consulting. was the top earner with US$ million in fees. China crossborder activity accrued US$. billion, a % increase from the US$. billion accumulated in the same period last year. Outbound investment volume reached US$. billion, led by acquisitions in the Industrials sector. Announced M&A activity with Australian involvement reached US$. billion, a % increase over the US$. billion recorded in the first half of 0. US$. billion of the total volume was cross border activity, with outbound activity representing US$. billion. Asia (exjapan) Involvement Announced Advisors by Target Industry Mkt. Rank Val US$m Rank Share No. Deals Real Estate,.,0..,. *.,. *. High Technology,. Huatai Securities Co Ltd,.. Southwest Securities Co Ltd 0,00..,.. Industrials,. 0,..,0.. KPMG,.. Telecommunications,00.,.. Anglo Chinese Corp Finance,0.,0. * *.. Financials,.0,.,0... 0,.. Jan June 0 0 China Cross Border Announced M&A Asian Completed M&A by Region Imputed Fees $0 Outbound (US$b) Inbound (US$b) % of Cross Border is Outbound 00% $0. $0. North Asia South Asia Southeast Asia Australasia $0 0% $0. Rank Value (US$b) $0 $0 0% 0% % Outbound Imputed Fees (US$b) $0. $0. $0. $0. $0 0% $0. $0. $0 Q0 Q0 Q0 Q0 Q0 Q0 Q0 Q0 Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q 0% $0.0 Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Top Ten Any Asia (exjapan) Involvement Announced Deals Jan June 0 0 Rank Date Date Effective Target (% Sought/Acquired) Acquiror Acquiror / Target Nation Rank Value (US$m) Target Macro / Mid Industry //0 //0 Hutchison Whampoa Ltd (0.0%) Cheung Kong(Holdings)Ltd Hong Kong / Hong Kong,0. Telecommunications / Telecommunications Services //0 //0 Cheung Kong (Hldg) Ltd Ppty (00%) Shareholders Hong Kong / Hong Kong,. Real Estate / Other Real Estate /0/0 SK Holdings Co Ltd (.%) SK C&C Co Ltd South Korea / South Korea,0. Energy and Power / Oil & Gas //0 O PLC (00%) Hutchison Whampoa Ltd Hong Kong / United Kingdom,. Telecommunications / Wireless //0 Samsung C&T Corp (00%) Cheil Industries Inc South Korea / South Korea,. Industrials / Building/Construction & Engineering //0 //0 Qihoo 0 Technology Co Ltd (00%) Focus Media Tech Shanghai Co (00%) Investor Group Jiangsu Hongda New Material Co China / China China / China 0,0.,. High Technology / Internet Software & Services High Technology / Software //0 Intended Pirelli & C SpA (.%) Bidco SpA Italy / Italy,. Industrials / Automobiles & Components /0/0 CITIC Ltd (.%) Chia Tai Bright Investment Hong Kong / Hong Kong,.0 Financials / Other Financials //0 //0 China Overseas Land & Invest (.%) China Overseas Holdings Ltd Hong Kong / Hong Kong,. Real Estate / Other Real Estate

18 Any Asia (exjapan) Involvement Announced (AD) Jan June 0 First Half 0 Mergers & Acquisitions s Asia (exjapan) Rankings Any Asia (exjapan) Involvement Completed (AF) Jan June Rank Value Market Market # of Market Change in 0 0 Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals, , , , Anglo Chinese Corp Finance, Anglo Chinese Corp Finance *, Somerley,., Somerley,., , China International Capital Co, , , Moelis & Co 0 0 0,.,0.,. 0, Industrial & Comm Bank China 0,0.,.,0., CITIC 0, CITIC, , Haitong Securities Co Ltd, Guotai Junan Securities Southwest Securities Co Ltd,.,., Great Wall Securities Co Ltd,.,0., Huatai Securities Co Ltd, , , Huatai Securities Co Ltd, , , Mizuho Financial Group 0, Guotai Junan Securities 0, KPMG, RBC Capital Markets, Haitong Securities Co Ltd 0, , Banca IMI (Intesa Sanpaolo), Ernst & Young LLP, Mediobanca, Wells Fargo & Co 0, , Northeast Securities Co Ltd, , , +, ,,, %.%.%.%.%.%.%.% 0.%.% Any Australian Involvement Announced (AD) Jan June 0 Any Australian Involvement Completed (AF) Jan June Rank Value Market Market # of Market Change in 0 0 Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals, , Macquarie Group,.... Macquarie Group, ,.... 0, , , ,... 0., Moelis & Co 0, , , Moelis & Co, , Gresham Partners, , Mizuho Financial Group, Gresham Partners 0, , , , Mizuho Financial Group, , Flagstaff Partners Pty Ltd *, , , Flagstaff Partners Pty Ltd, , Grant Samuel, ,... 0., Greenhill & Co, LLC, Greenhill & Co, LLC *, Azure Capital *, Cenkos Securities PLC CIBC World Markets Inc BMO Capital Markets * *,., Mitsubishi UFJ Financial Group China International Capital Co 0* INFOR Financial Inc *, Bank of China Ltd 0* Hartleys Ltd, JB North & Co Pty Ltd 0* Euroz Securities Ltd * *, Treadstone Partners Pty Ltd *, * Cenkos Securities PLC BBVA * , , %.%.% 0.%.%.%.%.% 0.%.%

19 Asia (exjapan) Buyside Financial Sponsor Activity Any New Zealand Inv Announced (AD) First Half 0 Mergers & Acquisitions s Asia (exjapan) Rankings Jan June 0 Rank Value (US$b) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Q Volume (US$b).% Q Volume (US$b) Q Volume (US$b).% Q Volume (US$b) $..% % of WW FS Volume YTD 0.%.%.% $..0%.% $. $..% $.0 $. $. $..% $. $. $. $. $. $. $. $. $.0 $. $. $. $. $. $. $. $. $. $. $.0 $. $0. $. $.0 $. $. $ % % % 0% % % % % 0% % of Asia (exjapan) Volume 0 0 Rank Value Market Market Rank Rank US$m Sh (%) Share Ch.... * *..0. Sawaya Segalas & Co LLC *..0.0 Sumitomo Mitsui Finl Grp Inc *..0.0 Macquarie Group * , %.% Any New Zealand Involvement Completed (AF) # of Market Change in Deals Sh (%) # of Deals %.% Jan June Rank Value Market Market # of Market Change in Advisor Market Market *, *, *, *, Haitong Securities Co Ltd , %.0% 0.%.%.% 00% 0.0% Any Asian (exjapan) Involvement Announced M&A by Target Industry ($bil) Australian Cross Border Announced M&A $0 Outbound (US$b) Inbound (US$b) % of Cross Border is Outbound 00% % % 0% % % $0 % % % % % % % Rank Value (US$b) $0 0% 0% Outbound $0 0% Real Estate High Technology Industrials Telecommunications Financials Energy and Power Materials Healthcare Media and Entertainment Consumer Products and Services Retail Consumer Staples $0 0% Government and Agencies Q0 Q0 Q0 Q0 Q0 Q0 Q0 Q0 Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q

20 Japanese Outbound Activity Breaks Record Financial Sector Leads Activity Eighteen Deals Over US$ Billion First Half 0 Mergers & Acquisitions s Japan M&A Japan Deals Intelligence Announced M&A activity with Japanese involvement during the first half of 0 increased.%, recording US$. billion in value, compared to the US$. billion during the same period in 0. This is the highest first half volume since 0 s US$. billion. Eighteen Japanese involvement deals valued at US$ billion or more, with an accumulated value of US$. billion, were announced during the first half of 0, a.% increase compared to the same period last year. The Financial sector remained the most active sector in the Japanese market, with deal volume totaling US$. billion, accounting for.% of the market. The US$. billion acquisition of HCC Insurance by Tokio Marine & Nichido Fire was the primary driver for the Financial sector, as this was the largest Japanese insurance transaction and the second largest deal for the Asian insurance sector on record. Japanese outbound volume reached a record high, totaling US$ billion, a.% increase compared to the US$. billion recorded during the first half of 0, with eight out of the top 0 announced deals being outbound. Half of Japanese outbound deals targeted Asia Pacificbased entities, totaling US$. billion from deals. USbased targeted entities followed closely accounting for.% of the market, totaling US$. billion from deals. Any Japanese involvement completed M&A volume during the first half of 0 reached US$. billion from 0 deals. Total estimated advisory fees, according to Thomson Reuters/Freeman Consulting, reached US$0. million. Japanese Involvement Announced M&A Top Advisors by Target Industry Jan June 0 0 Rank Val Mkt. No. US$m Rank Share Deals Financials,0. 0 Mizuho Financial Group,..,..,.. Industrials,.0,..0 Mizuho Financial Group,0.. Gresham Partners,0. *.,0. *. Real Estate,. Mitsubishi UFJ,0..,0.. Sumitomo Mitsui Finl Grp Inc,.. High Technology,. 0 Mitsubishi UFJ,..,0.. Deloitte,.. Any Japanese Involvement Announced M&A Any Japanese Involvement by Market $00 Q Volume (US$b) Q Volume (US$b) Q Volume (US$b) Q Volume (US$b) # of Deals First half,00 Domestic Inbound Outbound Outbound Inbound Domestic $,000 $ $0 $.,00 $. 0.0 $. 00 $ $. $0. $0.,000 $. $0. $..0 $00 $. $. $. 00 $. $., $ $0. $. 00 $. $. $. $..0 $0. $.,000 $0 $. $. $. $. 00 $. 0.0 $ $0. $. $.0 $. $. $.0 $. $0. 00 $. $ $ Q Q Q Q Q Q Q Q Q Q Q Q Q Top Ten Japanese Involvement Announced Deals Jan June 0 0 Rank Date Date Effective Target (% Sought/Acquired) Acquiror Acquiror / Target Nation Rank Value (US$m) Target Macro / Mid Industry /0/0 //0 Completed HCC Insurance Holdings Inc (00%) Toll Holdings Ltd (00%) Tokio Marine & Nichido Fire Japan Post Co Ltd Japan / United States Japan / Australia,0.,0. Financials / Insurance Industrials / Transportation & Infrastructure /0/0 /0/0 //0 //0 CITIC Ltd (.%) CITIC Ltd (0%) Royal Bk of ScotlandPortfolio (00%) Real Estate Office Fund (00%) Chia Tai Bright Investment Chia Tai Bright Investment Mizuho Bank Ltd Real Estate Master Fund Hong Kong / Hong Kong Hong Kong / Hong Kong Japan / United States Japan / Japan,.0,.,000.0,. Financials / Other Financials Financials / Other Financials Financials / Credit Institutions Real Estate / REITs /0/0 Completed Axis AB (.0%) Canon Inc Japan / Sweden,. High Technology / Software //0 Polypore International Inc (00%) Asahi Kasei Corp Japan / United States,. Materials / Chemicals /0/0 //0 GE CorporateEuropean Business (00%) RE Residential Fund (00%) Sumitomo Mitsui Banking Corp Real Estate Master Fund United Kingdom / France Japan / Japan,00.,. Financials / Credit Institutions Real Estate / REITs Rank Value (US$b) # of Deals Rank Value (US$b) # of Deals

21 First Half 0 Mergers & Acquisitions s Japan Rankings Any Japanese Involvement Announced (AD) Jan June 0 Any Japanese Involvement Completed (AF) Jan June Rank Value Market Market # of Market Change in 0 0 Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals Mizuho Financial Group,.... +, , Mitsubishi UFJ, , Mizuho Financial Group 0, Mitsubishi UFJ,.0..., ,... 0., , , CITIC * 0, Gresham Partners, Somerley * 0, , , Sumitomo Mitsui Finl Grp Inc, *, , , Ernst & Young LLP *, Sumitomo Mitsui Finl Grp Inc, GCA Savvian Group Corp, , ICICI Bank Ltd, , , , , Gresham Partners, Deloitte, Daiwa Securities Group Inc 0, Daiwa Securities Group Inc, KPMG, , Deloitte 0, SEB *, SEB 0, KPMG 0, *, , , Development Bank of Japan Inc, GCA Savvian Group Corp, , , , Plutus Consulting Co Ltd, Plutus Consulting Co Ltd, ,. 00.0, +0, %.%.0%.%.%.% 0.%.%.%.% Japanese Involvement Announced M&A Target Industry by Value Japanese Target Completed M&A Fees $,00 Q Q Q Q # of Deals YTD 000 $, %.% $ %.%.%.% Imputeed Fees (US$mil) $00 $00 $00. $.. $. $. $0. $.. $.. $. $.0... $.. $. $0. $. $. $0. $. $ Number of Deals Financials Industrials Real Estate High Technology Consumer Products and Services Materials Retail Consumer Staples Healthcare $00 $0 $. $.0 $. $. $. $. $. $0. $. $. $00. $ Media and Entertainment Energy and Power Government and Agencies Visit it th t to view archives and order custom League Tables th

22 First Half 0 Mergers & Acquisitions s Fairness Opinion Rankings Worldwide Announced Fairness Opinion Jan June 0 Any Americas Involvement Jan June 0 Announced Fairness Opinion Any US Involvement Announced Fairness Opinion Jan June 0 Based on Number of Transactions Based on Number of Transactions Based on Number of Transactions Rank Value (US$m) Rank Value (US$m) Rank Value (US$m) 0 0 # of Market Change in Rank Value Market 0 0 # of Market Change in Rank Value Market 0 0 # of Market Change in Rank Value Market Fairness Opinion Provider Rank Rank Deals Sh (%) # of Deals US$m Sh (%) Fairness Opinion Provider Rank Rank Deals Sh (%) # of Deals US$m Sh (%) Fairness Opinion Provider Rank Rank Deals Sh (%) # of Deals US$m Sh (%) Huatai Securities Co Ltd *. 0, , ,.. Southwest Securities Co Ltd *. +,.. Houlihan Lokey.,..0 Houlihan Lokey.,... +,.. *.,.. Duff & Phelps China Securities Co Ltd *.,. 0. Duff & Phelps * ,0.. Guotai Junan Securities * *. +,.. Sandler O'Neill Partners *.,. 0. Sandler O'Neill Partners.,. 0. CITIC * *. +,0.. Cormark Securities Inc * * Stifel/KBW Duff & Phelps. +0,0. 0. Stifel/KBW * *.,.. GF Securities * *.,. 0. GMP Capital Corp * 0*. +,0.. * *. 0,. 0. * *. + 0,...,.. Prairie Capital Advisors Inc * Houlihan Lokey 0 *. 0,.. 0* *. + 0,.. Blackstone Group LP *. +,.. * * 0.,.0 0. BMO Capital Markets 0* *. +,.. Simmons & Co International * * 0. 0,..0 0*.,.0. * 0*.,0.. Shenwan Hongyuan Securities Co * * 0. 0,. 0. * *.0,. 0., * * 0. +,.. Prairie Capital Advisors Inc * China Merchants Securities Co *. +,. 0. Blackstone Group LP *.0 +,...%.% Guosen Securities Co Ltd * *. +,. 0. Simmons & Co International * %.% Founder Securities Co Ltd *. +,0. 0., Sinolink Securities Co Ltd * 0*. +,. 0. * *. +,0..0.%.% Industrial Securities Co Ltd 0* *.. 0..%.% Cormark Securities Inc Sandler O'Neill Partners Haitong Securities Co Ltd 0* 0* 0* * * * * 0* ,. 0,., Stifel/KBW * GMP Capital Corp * *., , %.%.%.0% Any EMEA Inv Announced Fairness Opinion Jan June 0 Any Asia Pacific Inv Announced Fairness Opinion Jan June 0 Any Japan Inv Announced Fairness Opinion Jan June 0 Based on Number of Transactions Based on Number of Transactions Based on Number of Transactions Rank Value (US$m) Rank Value (US$m) Rank Value (US$m) 0 0 # of Market Change in Rank Value Market 0 0 # of Market Change in Rank Value Market 0 0 # of Market Change in Rank Value Market Fairness Opinion Provider Rank Rank Deals Sh (%) # of Deals US$m Sh (%) Fairness Opinion Provider Rank Rank Deals Sh (%) # of Deals US$m Sh (%) Fairness Opinion Provider Rank Rank Deals Sh (%) # of Deals US$m Sh (%).,.. Huatai Securities Co Ltd *. +,.. Plutus Consulting Co Ltd * *. +.. * *. +,.. Southwest Securities Co Ltd *.0 +,.. * *. +.. * *. +,00.. China Securities Co Ltd *. +,.. Mizuho Financial Group *. +,.. *. +,0.0.0 CITIC * *. +0,0.. Daiwa Securities Group Inc *. +,.. *. +,. 0. Guotai Junan Securities * *. +,.. * Investec * * GF Securities *.0 +,.. ACE Consulting * *. +, Shenwan Hongyuan Securities Co * 0. +,. 0. Deloitte * *.,.. Houlihan Lokey * * * *.. +.,. 0.. China Merchants Securities Co Guosen Securities Co Ltd * * *.. + +,.,. 0.. * * * Leonardo & Co * * Founder Securities Co Ltd *. +,0. 0., Deloitte * *. +,0.. Sinolink Securities Co Ltd * *. +,. 0. Redeye AB * * Industrial Securities Co Ltd * 0* %.% * *. +,.. * *.,.. 0.0% 0.0% Duff & Phelps * * Haitong Securities Co Ltd * *. 0,..0, China International Capital Co *. +,.0. *. +,...%.% New Times Securities Co Ltd * 0*. +,. 0..%.% Chinalion Securities Co Ltd * Huaxi Securities Co Ltd * * Minsheng Securities Co Ltd * *. 0,. 0. Sealand Securities Co Ltd * 0* , Fairness Opinion rankings include fairness opinions provided as a standalone mandate as well as fairness opinions provided as part of a broader advisory mandate..%.%.% 0.% 0

23 First Half 0 Mergers & Acquisitions s 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 Robert Levine Tel: + [email protected] Announced league tables include all deals that were announced between January, 0 and June 0, 0 and of which Thomson Reuters was made aware. All current data and previous year's data is as of :00pm EDT on June 0, 0. League tables include rank eligible mergers, acquisitions, repurchases, spinoffs, selftenders, minority stake purchases and debt restructurings. A tender/merger transaction is considered to be effective at the time of consummation of the merger or the date on which it is declared wholly unconditional. EMEA Christina Mavraki Tel: + (0) 0 [email protected] AsiaPacific Kelvin Bian Tel: + [email protected] Japan Kaori Motohashi Tel: + [email protected] Deals with undisclosed dollar values are rank eligible but with no corresponding Rank Value. NonUS dollar denominated transactions are converted to the US dollar equivalent at the time of announcement of terms. Financial and legal advisors receive full credit for each deal on which they provide financial or legal advisory services, unless they represent minority sellers or advise on only a portion of the transaction or Thomson Reuters has not been made aware of their participation in that transaction. For pending transactions, advisors to targets of multiple bids receive credit for the transaction agreed to or, in the absence of an agreement, the value of the highest offer. Any Involvement league tables include deals where the target, acquiror, or either ultimate parent are domiciled (nation of headquarters) in the specified region or nation. Any involvement league tables also include the nation of the seller and seller ultimate parent on privately negotiated stake purchases League tables, commentary, and charts citing announced activity are based on Rank Date and include intended, pending, partially complete, completed, pending regulatory, and unconditional transactions. Rank Date is defined as the earliest public announcement of when a value can be applied to a transaction. Imputed fees are calculated using Freeman & Co. 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. League table volumes for Mitsubishi UFJ Financial Group and, included herein reflect the changes after the commencement of their jointly established securities firms in Japan: () Mitsubishi UFJ Securities and () MUFG Securities. Accreditation for transactions involving the newly established joint ventures are reflected in totals for. For Japanese related rankings, is represented as "Mitsubishi UFJ. 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 undertakenany liability or obligation relating to the purchaseor sale of securities for or by any personin connectionwith this document. 0 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.

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