MERGERS & ACQUISITIONS REVIEW FINANCIAL ADVISORS. REUTERS / Carlo Allegri

MERGERS & ACQUISITIONS REVIEW FINANCIAL ADVISORS REUTERS / Carlo Allegri First Quarter

First Quarter Mergers & Acquisitions s M&A y Review Table of Contents Global M&A Any European Involvement Announced (AD) Any New Zealand Involvement Announced (AD) Global Deals Intelligence Any European Involvement Completed (AF) 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 (AF) 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 Americas Deals Intelligence Any German Involvement Announced (AD) Worldwide Announced Fairness Opinion Top Ten US Announced Deals Any German Involvement Completed (AF) Any Americas Announced Fairness Opinion Any Americas Involvement Announced (AD) Any Italian Involvement Announced (AD) Any USAnnounced Fairness Opinion Any Americas Involvement Completed (AF) Any Italian Involvement Completed (AF) Any EMEA Announced Fairness Opinion US Target Announced (AD) Any Nordic Involvement Announced (AD) Any Asia Pacific Announced Fairness Opinion US Target Completed (AF) Any Nordic Involvement Completed (AF) Any Japanese Announced Fairness Opinion Any US Involvement Announced (AD) Any Benelux Involvement Announced (AD) 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) Any Australian Involvement Announced (AD) Any EMEA Involvement Completed (AF) Any Australian Involvement Completed (AF)

First Quarter FINANCIAL ADVISORS MERGERS & ACQUISITIONS REVIEW Worldwide M&A Up % l Strong Gains for Large Cap Deals, Healthcare M&A Drive Strongest First Quarter Since l Goldman Sachs Top Advisor Global Deals Intelligence WORLDWIDE M&A UP %, STRONGEST FIRST QUARTER FOR DEAL MAKING SINCE Powered by a steady pace of deals over $ billion, the value of worldwide M&A totaled US$. billion during the first quarter of, a % increase from comparable levels and the strongest opening threemonth period for worldwide deal making since. Twentyseven deals with a value greater than $ billion were announced during the first quarter of, a % increase compared to the first quarter of. NUMBER OF DEALS DOWN % Nearly, worldwide deals were announced during the first quarter of, a % decrease compared to last year. First quarter M&A fell % by value and % by number of deals compared to the fourth quarter of, which ranked as the strongest threemonth period for new deal announcements since the fourth quarter of. Worldwide Completed M&A by Region Imputed Fees Americas EMEA $ Asia Pacific Japan $ US M&A HITS YEAR HIIGH; BEST ANNUAL START FOR ASIA PACIFIC M&A ON RECORD M&A activity for United States targets totaled US$. billion during the first quarter of, an increase of % compared to the level of activity seen during the first quarter of and the strongest first quarter for US M&A since. With US$. billion in announced deals during fthe first quarter of, Asia Pacific M&A registered the strongest first quarter for deal making in the region since records began in. HEALTHCARE, REAL ESTATE & TELECOM LEAD ACTIVITY Driven by pharmaceuticals M&A, deal making in the Healthcare sector totaled $US. billion during the first quarter of, more than double levels, while Real Estate and Telecommunications M&A increased % and %, respectively. With just over US$. billion in announced deals during the first quarter of, the Media and Entertainment sector saw the steepest yearoveryear percentage declines, down % compared to the first quarter of. CROSS BORDER M&A UP % Cross Border M&A activity totaled US$. billion during the first quarter of, accounting for % of overall M&A volume and a % increase over first quarter levels. Cross border M&A accounted for % of total M&A activity during the first quarter of. Imputed Fees (US$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 quarter of, a % increase from the comparable period in. $ Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Worldwide Cross Border Volume Worldwide Announced Buyside Financial Sponsor Activity Rank Value (US$b) Q Volume (US$b) $, Q Volume (US$b).% Q Volume (US$b) $, Q Volume (US$b) $..% % of YTD Global M&A $,.%.%.%.% $,.%.%.% $, $..% $. $, $. $. $ $. $. $. $. $. $. $. $ $. $. $. $. $. $. $. $ $. $. $. $. $. $. $ $. $. $. $. $. $. $. $. $. $. $. $. $ % % % % % % % % % % % % of Global M&A Rank Value (US$b) $ Q Volume (US$b) %.% Q Volume (US$b).% $ Q Volume (US$b) $. Q Volume (US$b) % $ % of YTD Global M&A.% $..% $ $..%.% %.% $ $..% $ $..% $. $. % $. $.% $. $. $. $. $. $. $. $ $. $. $. % $. $. $. $ $. $. $. $. $. $. $. $. $. $. $. $. $. $. $ $. $. % % of Global M&A

First Quarter Mergers & Acquisitions s Mergers & Acquisitions Scorecard: Worldwide Announced M&A Jan Mar Scorecard: Worldwide Completed M&A Jan Mar Worldwide Announced M&A Target Industry by Value Target Region/Nation // // // // Rank Val US$m No. Deals Rank Val US$m No. Deals % Change in Rank Value Target Region/Nation // // Rank Val No. US$m Deals // // Rank Val No. US$m Deals % Change in Rank Value Worldwide,.,,.,. Worldwide,.,,.,. Americas,.,,.,. Americas,.,,.,. Caribbean,.,.. Caribbean,..,. Central America,.,.. Central America,.,.. Mexico,.,.. Mexico,.,.. North America,.,,.,. North America,.,,.,. United States,.,,.,. United States,.,,.,. Canada,.,.. Canada,.,.. South America,.,.. South America,.,.. Brazil,.,.. Brazil,.,.. Chile.,.. Chile.,.. Africa/Middle East,.,.. Africa/Middle East,.,.. Middle East,.,.. Middle East,.,.. North Africa... North Africa,... SubSaharan Africa,.,.. SubSaharan Africa,.,.. Europe,.,,.,. Europe,.,,.,. Eastern Europe,.,.. Eastern Europe,.,.. Western Europe United Kingdom,.,.,,.,.,.. Western Europe Republic of Irelan,.,.,,.,.,.,. France,.,.. United Kingdom,.,.. Italy AsiaPacific,.,.,,.,.,.. Germany AsiaPacific,.,.,,.,.,.. Australasia,.,.. Australasia,.,.. Australia,.,.. Australia,.,.. New Zealand.,.. Papua New Guin,.,.. South East Asia,.,.. South East Asia,.,.. Singapore,.,.. Singapore,.,.. Thailand,... Malaysia,.,.. North Asia,.,,.,. North Asia,.,.. China,.,,.. China,.,.. Hong Kong,.,.. South Korea,.,.. South Asia,.,.. South Asia,.,.. Central Asia... Central Asia... Japan,.,.. Japan,.,...%.%.%.%.% Healthcare Telecommunications Industrials Consumer Staples Materials Consumer Products and Services Government and Agencies.%.%.%.%.%.%.% Real Estate Financials High Technology Energy and Power Media and Entertainment Retail Top Fifteen Worldwide Announced Deals Rank Date Date Effective Target (% Sought/Acquired) // Pending Kraft Foods Group Inc (%) // Pending Hutchison Whampoa Ltd (%) // Pending Macerich Co (%) // Pending Pharmacyclics Inc (%) // Pending Regency Energy Partners LP (%) // Pending Hospira Inc (%) // Pending Freescale Semiconductor Ltd (%) // Pending Salix Pharmaceuticals Ltd (%) // Pending O PLC (%) // Pending Catamaran Corp (%) // Pending RockTenn Co (%) // Pending Bright House Networks LLC (%) // Pending Verizon Commun IncWireline (%) // // Pending Pending Rexam PLC (%) Novion Property Group (%) Acquiror HJ Heinz Co Cheung Kong(Holdings)Ltd Simon Property Group Inc AbbVie Inc Energy Transfer Partners LP Pfizer Inc NXP Semiconductors NV Valeant Pharmaceuticals Intl Hutchison Whampoa Ltd UnitedHealth Group Inc MeadWestvaco Corp Charter Communications Inc Frontier Communications Corp Ball UK Acquisition Ltd Federation Centres Ltd Acquiror / Target Nation Hong Kong / Hong Kong Hong Kong / United Kingdom United Kingdom / United Kingdom Australia / Australia Rank Value (US$m),.,.,.,.,.,.,.,.,.,.,.,.,.,.,. Jan Mar Target Macro / Mid Industry Consumer Staples / Food and Beverage Telecommunications / Telecommunications Services Real Estate / REITs Healthcare / Pharmaceuticals Energy and Power / Oil & Gas Healthcare / Pharmaceuticals High Technology / Semiconductors Healthcare / Pharmaceuticals Telecommunications / Wireless Healthcare / Healthcare Providers & Services (HMOs) Materials / Paper & Forest Products Media and Entertainment / Cable Telecommunications / Telecommunications Services Materials / Containers & Packaging Real Estate / REITs

First Quarter Mergers & Acquisitions s Worldwide Rankings Worldwide Announced (AD) Jan Mar Worldwide Completed (AF) Jan Mar Rank Value Market Market # of Market Change in Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh ($) # of Deals,....,.......,....,.......,.... +,.......,.... +,.... +...,....,.......,....,.......,.... +,.......,.... + Perella Weinberg Partners LP,.......,.... +,.......,....,.......,....,.... +...,....,....... Somerley,.... +,.......,.... Wells Fargo & Co,....... Anglo Chinese Corp Finance *,.... + RBC Capital Markets,....... Greenhill & Co, LLC,.... + Zaoui & Co,.... +... Guggenheim Securities LLC,.... +,....... Macquarie Group,.... BNP Paribas SA,....... Blackstone Group LP,.... Houlihan Lokey,....... Moelis & Co,....,.......,.... + Ernst & Young LLP,....... Mizuho Financial Group,.... + Greenhill & Co, LLC,.... +... RBC Capital Markets,....,.... +... CITIC,.... + Stifel/KBW,.... +... Jefferies LLC,.... + Jefferies LLC,.......,..,,..,,...%.% Note: s include multiple competing bids for the same target..%.%.%.%.%.%.%.% Top WW Announced M&A Advisors by Target Industry Jan Mar Top Worldwide Announced M&A Advisors by Transaction Size (AD) Jan Mar Healthcare Real Estate Telecommunications Somerley Financials Industrials Mkt. No. Rank Val US$m Rank Share Deals,.,..,..,..,.,..,..,..,.,..,..,. *.,.,,..,..,..,.,,..,..,.. Rank Value (US$bil) $ $ $ $ $ $.... Goldman Sachs & Co............ Morgan Stanley Bank of America Merrill Lynch...... Centerview Partners LLC... Deutsche Bank... HSBC Holdings PLC Kraft Foods Group/HJ Heinz Co Regency Energy Partners/Energy Transfer Pharmacyclics Inc/AbbVie Inc Macerich Co/Simon Property Group Hutchison Whampoa/Cheung Kong Other Top Deals All Other Transactions......

First Quarter Mergers & Acquisitions s Worldwide M&A Matrix Exit Multiple Matrix Average Rank Value / EBITDA UP DOWN Consumer Products and Services Consumer Staples Energy and Power Healthcare High Technology Industrials Materials Media and Entertainment Real Estate Retail Telecommunications Average World Americas USA Canada EMEA.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x Europe UK Asia ex. Japan Jan Mar.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x.x Japan Bid Premium Matrix Average Premium to Week Stock Price Jan Mar UP DOWN Consumer Products and Services Consumer Staples Energy and Power Financials Healthcare High Technology Industrials Materials Media and Entertainment Real Estate Retail Average........... Telecommunications.. World.......................... Americas USA Canada EMEA Europe................................................................................................................................................................................. UK Asia ex. Japan * 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 // // 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 x and for average premium to week stock price prior to announcement is capped at %. Japan

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

First Quarter Mergers & Acquisitions s Americas M&A Americas M&A Increase % From First Quarter Healthcare Volume Drives US Activity Canadian Activity Rises % Americas Deals Intelligence Americas M&A volume increased.% over totals reached during the first quarter of, accruing US$. billion in activity from, announced deals. Estimated fees generated from completed deals in the Americas totaled US$. billion, a.% increase from fees earned in the first quarter of. US Targeted M&A also posted significant gains, rising.% over announced M&A in the first quarter of. UStargeted volume accrued a total of US$. billion during the first quarter of, driven by, deals. The Healthcare sector led the US market, with deal volume totaling US$. billion, accounting for a.% market share. Consumer Staples followed, accruing US$ billion for a.% share of the market. Real Estate 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 by.% over the totals reached during the first quarter of. Completed Canadian Involvement activity was down.% compared to the same period last year, accruing US$. billion from deals. US targets enjoyed the highest average exit multiples in the first quarter of (.x), followed by the Asia ex. Japan (.x). All industries, except Healthcare and Retail, saw modest increases in average multiples compared to the first quarter of, with the biggest increases coming in Industrials, which rose to.x from.x in the first quarter of last year. US Announced Advisors by Target Industry Jan Mar Rank Val Mkt. No. (US$m) Rank Share Deals Healthcare,.,..,..,.. Consumer Staples,.,. *.,. *.,.. Real Estate,.,..,..,. *. Energy and Power,.,..,..,.. High Technology,.,..,.. Qatalyst Partners,.. US Target Announced M&A Target Industry by Value (US$ bil) Jan Mar.%.%.% Healthcare Consumer Staples Real Estate High Technology Energy and Power Materials Media and Entertainment Financials Top Ten USTarget Announced Deals.%.%.%.% US Buyside Financial Sponsor Activity Rank Date Date Effective Target (% Sought/Acquired) Acquiror Acquiror / Target Nation Rank Value (US$m) // Pending Kraft Foods Group Inc (%) HJ Heinz Co,. // Pending Macerich Co (%) Simon Property Group Inc,. // Pending Pharmacyclics Inc (%) AbbVie Inc,. // Pending Regency Energy Partners LP (%) Energy Transfer Partners LP,. // Pending Hospira Inc (%) Pfizer Inc,. // Pending Freescale Semiconductor Ltd (%) NXP Semiconductors NV,. // Pending Salix Pharmaceuticals Ltd (%) Valeant Pharmaceuticals Intl,. // Pending Catamaran Corp (%) UnitedHealth Group Inc,. // Pending RockTenn Co (%) MeadWestvaco Corp,. // Pending Bright House Networks LLC (%) Charter Communications Inc,..%.% Consumer Products and Services Telecommunications Industrials Retail Government and Agencies Rnk Val US$bil...........%........%.% Q Volume (US$b) Q Volume (US$b) Q Volume (US$b) Q Volume (US$b) % of WW FS Volume YTD.%.%.%..%...............%.%.........%..%.%.%.%.%.%.%.%.% Jan Mar Target Macro / Mid Industry Consumer Staples / Food and Beverage Real Estate / REITs Healthcare / Pharmaceuticals Energy and Power / Oil & Gas Healthcare / Pharmaceuticals High Technology / Semiconductors Healthcare / Pharmaceuticals Healthcare / Healthcare Providers & Services (HMOs) Materials / Paper & Forest Products Media and Entertainment / Cable

First Quarter Mergers & Acquisitions s Americas Rankings Any Americas Involvement Announced (AD) Jan Mar Any Americas Involvement Completed (AF) Jan Mar Rank Value Market Market # of Market Change in Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals,.... +,.......,....,.......,....,.......,....,.... +...,....,.... +...,.... +,.... +...,.... + Perella Weinberg Partners LP,.......,....,.......,.... +,.... +...,....,....... Greenhill & Co, LLC,....,....... Guggenheim Securities LLC,.... + Wells Fargo & Co,.... +... Blackstone Group LP,.... RBC Capital Markets,.......,.... +,.......,....,.... +... RBC Capital Markets,....,.......,.... + Houlihan Lokey,....... Jefferies LLC,.... + Greenhill & Co, LLC,.... +... Macquarie Group,.... +,.... +... LionTree Advisors LLC,.... Stifel/KBW,.... +... PJT Partners LP,.... + Jefferies LLC,....... Moelis & Co,.... + Robert W Baird & Co Inc,....... Qatalyst Partners,.... +,....... Sandler O'Neill Partners,.... + Ernst & Young LLP,.......,.... + BNP Paribas SA,.... +...,..,,..,,...%.%.%.%.%.%.%.%.%.% Note: s include multiple competing bids for the same Target. US Target Announced (AD) Jan Mar US Target Completed (AF) Jan Mar Rank Value Market Market # of Market Change in Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals,.... +,.......,.... +,.......,....,.......,....,.... +...,....,.... +...,.... +,.... +...,.... +,.......,....,.......,.... + Wells Fargo & Co,.......,....,.... +... Guggenheim Securities LLC,.... +,....... Greenhill & Co, LLC,.... RBC Capital Markets,....... Blackstone Group LP,....,.......,.... Houlihan Lokey,.......,.... + Greenhill & Co, LLC,.... +... RBC Capital Markets,.... Stifel/KBW,.... +... Jefferies LLC,.... + Perella Weinberg Partners LP,....... LionTree Advisors LLC,....,....... PJT Partners LP,.... + Jefferies LLC,.... +... Macquarie Group,.... + Robert W Baird & Co Inc,.... +... Moelis & Co,.... Ernst & Young LLP,....... Qatalyst Partners,.... +,....... Sandler O'Neill Partners,.... + William Blair & Co,....... Peter J. Solomon Co Ltd,.... + Leerink Partners LLC,....... William Blair & Co,.... + Qatalyst Partners,.... +...,..,,..,,...%.%.%.% Note: s include multiple competing bids for the same Target..%.%.%.%.%.%

First Quarter Mergers & Acquisitions s Americas Rankings Any US Involvement Announced (AD) Jan Mar Any US Involvement Completed (AF) Jan Mar Rank Value Market Market # of Market Change in Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals,.... +,.......,....,.......,.... +,.......,....,.... +...,.... +,.... +...,.... + Perella Weinberg Partners LP,.......,.... +,.......,....,.......,.... +,.......,.... Wells Fargo & Co,.... +... Greenhill & Co, LLC,....,....... Guggenheim Securities LLC,.... +,....... Blackstone Group LP,....,.......,.... + RBC Capital Markets,.......,.... +,....... RBC Capital Markets,.... Greenhill & Co, LLC,.... +...,.... Houlihan Lokey,....... Jefferies LLC,.... +,.... +... Macquarie Group,.... + Stifel/KBW,.... +... LionTree Advisors LLC,.... Jefferies LLC,....... PJT Partners LP,.... + Robert W Baird & Co Inc,....... Moelis & Co,.... + Ernst & Young LLP,....... Qatalyst Partners,.... + BNP Paribas SA,.... +... Sandler O'Neill Partners,.... + William Blair & Co,.... +...,.... +,.... +...,..,,..,,...%.%.%.%.%.%.%.%.%.% Any Canadian Involvement Announced (AD) Jan Mar Any Canadian Involvement Completed (AF) Jan Mar Rank Value Market Market # of Market Change in Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals RBC Capital Markets,.... +,.......,.... +,.... +...,....,.... +... *,.... +,....... Lenner & Partners *,.... +,....... Danske Bank *,.... + Scotiabank,....... *,.... Macquarie Group,....... Sandler O'Neill Partners,.... + CIBC World Markets Inc,....... Macquarie Group,.... BNP Paribas SA *,.......,.... Desjardins Group *,.... +...,.... BMO Capital Markets,.... +... Scotiabank,.... RBC Capital Markets.......,.... TD Securities Inc....... Numis *,.... +....... Willis Capital Markets *,.... + Jefferies LLC....... BMO Capital Markets,.... Maxit Capital LP.... +... GMP Capital Corp,.... GMP Capital Corp.......,.... + Mitsubishi UFJ Financial Group *.... +... Bourne Partners LLC,.... + *....... Raymond James Financial Inc,.... + Houlihan Lokey *.... +...,.... DTZ Debenham Thorpe Ltd.... +... FirstEnergy Capital Corp.... National Bank of Canada Fin'l.... +... National Bank of Canada Fin'l.... Raymond James Financial Inc....... Canaccord Genuity *.... + Clarus Securities Inc..... +....... William Blair & Co.... +...,..,.....%.%.%.%.%.%.%.%.%.%

EMEA Announced M&A Essentially Flat Industrials Highest Valued Sector Financial Sponsor Activity drops First Quarter Mergers & Acquisitions s EMEA M&A EMEA Deals Intelligence Announced M&A activity with EMEA involvement totaled US$. billion in the first quarter, down % compared to the US$. billion reached the same period last year. EMEA fees accumulated on deals completed in the first quarter of was slightly down from the same period last year, totaling US$. billion, according to estimates from Thomson Reuters/Freeman Consulting. The Industrials sector led the EMEA marketplace, with deals totaling a combined US$. billion, including the Bidco Spa (Italian Investment Company)/Pirelli deal valued at US$. billion. Energy & Power accrued US$. billion, and Real Estate totaled US$. billion of activity. Financial sponsors were less active this year compared to the same period in. EMEAtargeted buyside financial sponsor activity reached US$. billion in the first quarter, down.% from the US$. billion reported for the same period last year. Acquirors listed on the London Stock Exchange were EMEA's most acquisitive companies this year, with a combined total of US$. billion in offers. EMEA Involvement Announced Advisors by Target Industry Jan Mar Mkt. Rank Val US$m Rank Share Industrials,.,..,..,.. Energy and Power,.,..,.. Real Estate,. BNP Paribas SA,..,..,.. Materials,.,..,..,.. Healthcare,.,..,..,.. No. Deals Primary Listing of Most Acquisitive EMEA Companies Top (US$b) Jan Mar EMEA Targeted Financial Sponsor Investments (Buyside Sponsor Activity) $. $. $. $. $. $. $. $. $. $. London Euronext Paris Nasdaq Swiss Stock Exchange New York Zurich Nasdaq Madrid OMX Stockholm BMFBOVESPA Rank Value (US$b) $ $ $ $ $ $ $ Q Volume (US$b) Q Volume (US$b) Q Volume (US$b) Q Volume (US$b).% $. % of YTD EMEA M&A.% $..%.% $..%.%.% $. $..% $. $..% $. $. $..% $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. % % % % % % % of EMEA Top Ten EMEA Involvement Announced Deals Rank Date Date Effective Target (% Sought/Acquired) Acquiror // Pending O PLC (%) Hutchison Whampoa Ltd // Pending Rexam PLC (%) Ball UK Acquisition Ltd // Intended Pirelli & C SpA (.%) Bidco SpA // Pending LafargeHolcimCertain Assets (%) CRH PLC // Pending Fortum Distribution AB (%) Investor Group // Completed NPS Pharmaceuticals Inc (%) Shire PLC // Pending UIL Holdings Corp (%) Iberdrola USA Inc // Pending AWAS AviationAircraft Portfol (%) Macquarie Bank Ltd // Intended Souza Cruz SA (.%) British American Tobacco Ameri // Pending Auspex Pharmaceuticals Inc (%) Teva Pharmaceutical Industries * Undisclosed Acquiror / Target Nation Hong Kong / United Kingdom United Kingdom / United Kingdom Italy / Italy IrelandRep / France Canada / Sweden IrelandRep / United States Australia / IrelandRep Brazil / Brazil Israel / United States Jan Mar Rank Value (US$m) Target Macro / Mid Industry,. Telecommunications / Wireless,. Materials / Containers & Packaging,. Industrials / Automobiles & Components,. Materials / Construction Materials,. Energy and Power / Power,. Healthcare / Biotechnology,. Energy and Power / Power,. Industrials / Transportation & Infrastructure,. Consumer Staples / Tobacco,. Healthcare / Pharmaceuticals

First Quarter Mergers & Acquisitions s EMEA Rankings Any EMEA Involvement Announced (AD) Jan Mar Any EMEA Involvement Completed (AF) Jan Mar Rank Value Market Market # of Market Change in Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals,.,.,.......... + +,.,.,.......... + +.........,.... +,.......,.... + Perella Weinberg Partners LP,.......,.... +,.... +...,....,.......,....,.... +...,....,.......,.... +,.......,.... Zaoui & Co,.... + Moelis & Co,.,....... BNP Paribas SA,.,............. BNP Paribas SA Mediobanca,.,....... +,.,....... +...... Greenhill & Co, LLC,.... +,.... +... Zaoui & Co,.... Kempen and Co NV *,....... Macquarie Group,.... + Puhl GmbH & Co KG *,.... +... Davy *,.... + Ernst & Young LLP,....... Goodbody Stockbrokers *,.... +,.......,.... +,....... Lenner & Partners *,.... + PricewaterhouseCoopers,....... Danske Bank * *,.... Moelis & Co,....... Societe Generale,.... Leerink Partners LLC,....... RBC Capital Markets,.... RBC Capital Markets,.......,..,,..,,...%.%.%.%.%.%.%.%.%.% Any European Involvement Announced (AD) Jan Mar Any European Involvement Completed (AF) Jan Mar Rank Value Market Market # of Market Change in Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals,.... +,.......,.... +,.... +...,.... +,.... +...,....,.......,.... + Perella Weinberg Partners LP,.......,.... +,.... +...,.... +,.... +...,....,.......,....,.......,.... +,.......,.... Zaoui & Co,.... +,....,....... Moelis & Co,.... BNP Paribas SA,....... BNP Paribas SA,....,....... Mediobanca,.... +,.... +... Greenhill & Co, LLC,.... +,.... +... Zaoui & Co,.... Kempen and Co NV *,....... Macquarie Group,.... + Puhl GmbH & Co KG *,.... +... Davy *,.... + Ernst & Young LLP,....... Goodbody Stockbrokers *,.... +,.......,.... +,....... Lenner & Partners *,.... + PricewaterhouseCoopers,....... Danske Bank * *,.... Leerink Partners LLC,....... Societe Generale,.... RBC Capital Markets,....... RBC Capital Markets,.... Macquarie Group,.......,..,,..,,...%.%.%.%.%.%.%.%.%.% te

First Quarter Mergers & Acquisitions s EMEA Rankings Any UK Involvement Announced (AD) Jan Mar Any UK Involvement Completed (AF) Jan Mar Rank Value Market Market # of Market Change in Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals,.... +,.... +...,.... +,.... +...,.... +,.......,....,.... +...,.... +,.... +...,.... Zaoui & Co,.... +...,....,.... +... Moelis & Co,....,......,.... + *,.... +... Greenhill & Co, LLC,.... +,.......,.... +,....... Macquarie Group,.... + Ernst & Young LLP,.......,....,.......,.... +,.......,....,....... RBC Capital Markets,....,....... Santander *,.... RBC Capital Markets *,.... +...,.... + Scotiabank,.... +... Mizuho Financial Group,.... + BNP Paribas SA,.... +... Cenkos Securities PLC,.... Macquarie Group *,.... +... Oakley Capital Ltd,.... + Smith Square Partners LLP,.... +... Perella Weinberg Partners LP *,.... Standard Chartered PLC,....... Numis,.... + Deloitte,.... +... Willis Capital Markets,.... + PricewaterhouseCoopers,.... +... Blackstone Group LP *,.... N+,.......,.. +,.. +...%.%.%.%.%.%.%.%.%.% Any French Involvement Announced (AD) Jan Mar Any French Involvement Completed (AF) Jan Mar Rank Value Market Market # of Market Change in Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals BNP Paribas SA,.... BNP Paribas SA,.......,.,....... + *,.,....... +......,.... *,.... +...,.... +,.......,.... *,.... +...,....,....... *,.... + *,....... Davy *,.... + Blackstone Group LP * *,....... Zaoui & Co *,.... Credit Agricole CIB,....... Goodbody Stockbrokers *,.... + Natixis,.... +... *,.... Industrial & Comm Bank China,.... +...,.... Bucephale Finance *,.... +...,.... Messier & Associes *,....... Societe Generale,.... Barber Hauler Capital Advisers,.... +... Industrial & Comm Bank China *,.... + *,....... Guotai Junan Securities *,.... + Mediobanca,.... +... RBC Capital Markets Leonardo & Co Credit Agricole CIB PricewaterhouseCoopers................ + Guotai Junan Securities Societe Generale Callisto *,.,.,.,............. + + + +........... Mediobanca *........... Banca IMI (Intesa Sanpaolo) *.... + *....... UniCredit *.... *....... Cushman & Wakefield Inc.... + DC Advisory.... +...,.. +,.. +...%.%.%.%.%.%.%.%.%.%

First Quarter Mergers & Acquisitions s EMEA Rankings Any Spanish Involvement Announced (AD) Jan Mar Any Spanish Involvement Completed (AF) Jan Mar Rank Value Market Market # of Market Change in Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals,.... +,.... + Moelis & Co,.... + *,.... +,.... +,.... +,.... +,.... + *,.... PricewaterhouseCoopers,.... * *,.... Societe Generale * *,....,.... Mediobanca *.... Banca IMI (Intesa Sanpaolo) *.... +.... + BBVA.... Santander.... Cushman & Wakefield Inc.... + Ernst & Young LLP.... Kotak Mahindra Bank Ltd.... + KPMG *.... Globalscope *.... + Leonardo & Co *.... + Aguirre Newman SA *.... +,...%.%.%.% Rank Value Market Market # of Market Change in Advisor Market Market,.......,.... +....... +.......... Mediobanca *....... Banca IMI (Intesa Sanpaolo) *.... +.......... KPMG....... PricewaterhouseCoopers....... *.... +... RBC Capital Markets.... +... BDO *....... *........... +....... +... BBVA....... Ernst & Young LLP....... Santander....... Fineurop SpA *.... +... * *....... Leonardo & Co *.... +... Globalscope *.... +...,.....%.%.%.%.%.% Any German Involvement Announced (AD) Jan Mar Any German Involvement Completed (AF) Jan Mar Rank Value Market Market # of Market Change in Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals,....,.... +...,.... +,.......,.... +,.... +...,.... +,.......,....,.... +...,.... Kempen and Co NV *,....... Sumitomo Mitsui Finl Grp Inc,.... + Puhl GmbH & Co KG *,.... +... *,....,....... *.... +,.... +........... BNP Paribas SA,.,....... +...... Mediobanca....,.... +... Gaw Capital Partners.... + *,.... +... Guggenheim Securities LLC.... + PricewaterhouseCoopers,....... Deloitte *.... + Bain & Co *,.... +... CBRE Holding SAS *.... + Aon Corp *,.... +... * *.... Jefferies LLC,....... Qatalyst Partners *.... + Greenhill & Co, LLC,.... +... Global M&A *.... Houlihan Lokey *,........... + Mediobanca....... Greenhill & Co, LLC.... + Gaw Capital Partners.... +... Development Bank of Japan Inc *.... + Ernst & Young LLP....... William Blair & Co * *........... GP Bullhound Ltd.... +.... +... Ernst & Young LLP.... Deloitte *.... +...,.. CBRE Holding SAS * *.... +...,.....%.%.%.%.%.%.%.%.%.%

First Quarter Mergers & Acquisitions s EMEA Rankings Any Italian Involvement Announced (AD) Jan Mar Any Italian Involvement Completed (AF) Jan Mar Rank Value Market Market # of Market Change in Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals Mediobanca,.,....... +,.,............. *,.... +,....... *,.... + Mediobanca *,.......,.... + Banca IMI (Intesa Sanpaolo),.......,.... *,.... +... *,.... +....... * *,.... +....... * *,.,....... + + PricewaterhouseCoopers *.............. UniCredit Leonardo & Co Piper Jaffray Cos,.,.,.......... + Leonardo & Co Ernst & Young LLP * *............ + +......... Banca IMI (Intesa Sanpaolo),.... N+ *.... +,.... Commerzbank AG *.... +... KPMG........... Equita SIM SpA * *.... + Altium Capital Limited.... +... *.... + KPMG *....... Credit Agricole CIB *.... + Deloitte * *....... Societe Generale *.... + M&A International * *.... Altium Capital Limited........... Deloitte * *.... CFI....... M&A International * *.... Mizuho Financial Group.... + Growin Partners Inc Klecha & Co........ + + Marsh Pty Ltd IMAP * * *........ +......,..,.....%.%.%.%.%.%.%.%.%.% Any Nordic Involvement Announced (AD) Jan Mar Any Nordic Involvement Completed (AF) Jan Mar Lenner & Partners Danske Bank Deloitte SEB Catella AB PricewaterhouseCoopers Mooreland Partners LLC Carnegie Nordea Providence Capital Inc LarrainVial SA Kepler Equities Moelis & Co Clairfield International Ernst & Young LLP ABG Sundal Collier MidCapital DNB ASA Advium Corporate Finance Rank Value Market Market # of Market Change in Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals *,.... *,.... + * *,.... *,....,.... + *,.,.,.......... +.... +............ + +........ +.... + *.... + * *.... + *.... *.... +................ + *.... +....,.. Rank Value Market Market # of Market Change in Advisor Market Market *,.... +... *,....... Pangea Property Partners AB,.... +... Carnegie,....... *,....... China International Capital Co.... +... Clairfield International....... *....... FTI Consulting Inc *.... +... M&A International * *....... ABG Sundal Collier *.... +... Arctic Securities ASA.... +... SEB....... *.... +... DNB ASA * *.... +.......... *....... Ernst & Young LLP *....... Deloitte *....... Nordea.... +... Mooreland Partners LLC.... +... PricewaterhouseCoopers....... CIBC World Markets Inc *.... +... Jefferies LLC *.... +..........,.....%.%.%.%.%.%.%.%.%.%

First Quarter Mergers & Acquisitions s EMEA Rankings Any Benelux Involvement Announced (AD) Jan Mar Any Benelux Involvement Completed (AF) Jan Mar Rank Value Market Market # of Market Change in Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals,.,....... + *,.,....... + +......,....,.......,.... +,.......,.... +,.......,....,....... BNP Paribas SA * *,.... Kempen and Co NV *,....... Societe Generale *,.... + *,....... Zaoui & Co,.... + Puhl GmbH & Co KG *,.... +... Greenhill & Co, LLC *,.... +,.... +... Perella Weinberg Partners LP *,....,....... Oakley Capital Ltd *,.... +,.... +...,....,.... +... Rabobank NV,....,.... +...,....,....... KPMG *,.... KPMG *,.......,.... Rabobank NV * *,....... EFG Hermes Brokerage UAE LLC,.... + EFG Hermes Brokerage UAE LLC *,.... +... Industrial & Comm Bank China,.... + Industrial & Comm Bank China,.... +... * *,.... Guotai Junan Securities,.... +... Blackstone Group LP Guotai Junan Securities *,.,....... + + Houlihan Lokey Mediobanca,.,....... + +...... Mediobanca,.... Moelis & Co,.... +... RBC Capital Markets *,.... + Banca IMI (Intesa Sanpaolo),.... +... Bourne Partners LLC *,.... + Jones Lang LaSalle Inc *.... +...,..,.....%.%.%.%.%.%.%.%.%.% EMEA Inv. Announced M&A Target Sector by Value ($bil) Jan Mar Quarterly EMEA Cross Border Volume $. $. $. $. $. ` $ $ Inbound (US$b) Outbound (US$b) Number of deals, $. $. $, $. $. $. $. $. Rank Value (US$b) $ $ $ $,, # of Deals Industrials Energy and Power Real Estate $ Materials Healthcare Telecommunications $ Financials Media and Entertainment High Technology Retail Consumer Products and Services Consumer Staples $

A Record Start For Asian M&A I Imputed Fees Down % I Australian M&A Up % First Quarter Mergers & Acquisitions s Asia Pacific (exjapan) M&A Asia Pacific (exjapan) Deals Intelligence Announced M&A activity with Asian involvement witnessed a record high as deal value grossed US$. billion, a % increase over the US$. billion recorded in the same period last year. China remained the most targeted nation in the region reaching US$. billion from, deals. Companies in the Telecommunications sector were the most targeted, with US$. billion accumulated from deals. The announced acquisition by Cheung Kong (Holdings) Ltd of the remaining % interest in Hutchison Whampoa Ltd, valued at US$. billion, surpassed the prior recordholding Asia Pacific deal CITIC Pacific s acquisition of its stateowned parent, CITIC Group, valued at US$. billion in. Asian buyside financial sponsor M&A activity reached US$. billion, a % increase over US$. billion in the first quarter of. Companies in the High Technology sector were the most targeted by sponsors, followed by Real Estate and Financials. Imputed Fees earned for the region were estimated at US$. million, a.% decrease from US$. million recorded in the same period last year, according to Thomson Reuters/Freeman Consulting. The top earner was, with US$. million, followed by Credit Suisse with US$. million and and, each with US$. million. China crossborder activity accrued US$. billion, a % increase from the US$. billion accumulated in the first quarter of. Outbound investment volume reached US$. billion, where companies in the Industrials sector were the most targeted. Australian announced M&A activity increased by %, reaching US$. billion; Australia s cross border activity recorded US$ billion, with outbound activity contributing US$ billion of this total. China Cross Border Announced M&A Asia (exjapan) Involvement Announced Advisors by Target Industry Mkt. Rank Val US$m Rank Share No. Deals Financials,.,,..,.. Somerley,.. Real Estate,.,.. DBS Group Holdings,.,... Industrials,.,,.. Mediobanca,. *.,. *.,. *. Energy and Power,.,.,... CITIC,.. High Technology,., Huatai Securities Co Ltd,..,.. Mizuho Financial Group.. Asian Completed M&A by Region Imputed Fees Jan Mar $ Outbound (US$b) Inbound (US$b) % of Cross Border is Outbound % $. $. North Asia South Asia Southeast Asia Australasia $ % $. Rank Value (US$b) $ % % % Outbound Imputed Fees (US$b) $. $. $. $. $ % $. $. $ Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q % $. Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Top Ten Any Asia (exjapan) Involvement Announced Deals Jan Mar Rank Date Date Effective Target (% Sought/Acquired) Acquiror Acquiror / Target Nation Rank Value (US$m) Target Macro / Mid Industry // // Pending Pending Hutchison Whampoa Ltd (%) O PLC (%) Cheung Kong(Holdings)Ltd Hutchison Whampoa Ltd Hong Kong / Hong Kong Hong Kong / United Kingdom,.,. Telecommunications / Telecommunications Services Telecommunications / Wireless // Intended Pirelli & C SpA (.%) Bidco SpA Italy / Italy,. Industrials / Automobiles & Components // Pending CITIC Ltd (.%) Chia Tai Bright Investment Hong Kong / Hong Kong,. Financials / Other Financials // // // Pending // Pending CITIC Ltd (%) Kenon Holdings Ltd (%) China Erzhong Group(Deyang) (%) Chia Tai Bright Investment Shareholders Sinomach Hong Kong / Hong Kong Israel / Singapore China / China,.,.,. Financials / Other Financials Energy and Power / Power Industrials / Machinery // Pending PhilipsLED Components Bus (.%) Investor Group China / Netherlands,. Industrials / Other Industrials // Intended Kaisa Group Holdings Ltd (.%) Sunac China Holdings Ltd China / China,. Real Estate / Other Real Estate // Pending Longtan Hydropower Dvlp Co Ltd (%) Guangxi Guiguan Elec Power Co China / China,. Energy and Power / Power

Any Asia (exjapan) Involvement Announced (AD) Jan Mar First Quarter Mergers & Acquisitions s Asia (exjapan) Rankings Any Asia (exjapan) Involvement Completed (AF) Jan Mar Rank Value Market Market # of Market Change in Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals,.... +,.... +... Somerley,.... + Huatai Securities Co Ltd,.... +...,.... China International Capital Co,.... +... Anglo Chinese Corp Finance *,.... +,.......,.... +,.......,....,....... CITIC,.... + Wells Fargo & Co *,.... +... Moelis & Co,.... RBC Capital Markets *,.... +...,.... +,.......,.... Northeast Securities Co Ltd,.... +...,....,.......,.... CITIC,.... +... Mizuho Financial Group,.... Ernst & Young LLP,.......,.... + *,....... Mediobanca,.... + ICICI Bank Ltd *,.......,.... GCA Savvian Group Corp * *,.......,.... Anglo Chinese Corp Finance *,.... +... Guotai Junan Securities,.... + Industrial & Comm Bank China,.......,....,....... China Securities Co Ltd,.... + Gram Capital,.... +... Huatai Securities Co Ltd,.... + DBS Group Holdings *,.... +... PricewaterhouseCoopers,.... RHB,.... +... Zaoui & Co,.... Tudor Pickering & Co LLC,.... +... Haitong Securities Co Ltd,.... Malayan Banking Bhd,.... +... DBS Group Holdings,.... Grant Samuel,.... +...,.., +,..,,...%.%.%.%.%.%.%.%.%.% Any Australian Involvement Announced (AD) Jan Mar Any Australian Involvement Completed (AF) Jan Mar Rank Value Market Market # of Market Change in Rank Value Market Market # of Market Change in Advisor Market Market Rank Rank US$m Sh (%) Share Ch. Deals Sh (%) # of Deals Macquarie Group,....,.......,....,.......,....,.......,....,....... Moelis & Co,.... + Grant Samuel,.... +... Gresham Partners *,....,....... Mizuho Financial Group *,.... +,....... *,.... Mitsubishi UFJ Financial Group.... +...,........ +...,.... +.......,.... Fifth Third Bancorp.... +... Greenhill & Co, LLC *,.... + Macquarie Group....... Azure Capital,.... + KPMG....... Cenkos Securities PLC.... + Moelis & Co.... +... Mitsubishi UFJ Financial Group.... + Greenhill & Co, LLC *.... +... China International Capital Co *.... +....... Bank of China Ltd *.... + Clarus Securities Inc. *.... +... JB North & Co Pty Ltd *.... + Maxit Capital LP *.... +... * *.... Strutt & Parker LLP.... +... *.... PricewaterhouseCoopers....... *.... + BDO.... +... BBVA *.... + Miro Advisors Pty Ltd.... +... Santander *.... + Deloitte....... PricewaterhouseCoopers.... Greenstone Partners.... +... Jones Lang LaSalle Inc.... + Akira Partners LLP.... +...,..,.....%.%.%.%.%.%.%.%.%.%

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

Japanese Outbound At Record High Financial Sector Drives JP Activity Domestic Deals Lowest since First Quarter Mergers & Acquisitions s Japan M&A Japan Deals Intelligence The value of announced M&A activity with Japanese involvement increased.% over first quarter, recording US$. billion in value, marking the highest first quarter volume since (US$. billion). Despite the weak yen, Japanese outbound activity reached a record high, grossing US$. billion from deals, a.% increase over the US$. billion recorded during the same period last year. Eight out of the Top deals for the Japanese market s overall activity during the first quarter were outbound transactions. More than half of the outbound deals were targeted to AsiaPacific, with.% market share worth US$. billion from deals; followed by EU with.% market share, recording US$ billion from deals; and the US at.% market share, recording US$. billion from deals. The Financial sector led Japanese M&A activity, with deals totaling US$. billion. The concurrent acquisitions by Chia Tai Bright Investment (jointly owned by Itochu and Charoen Pokphand Group) of a combined.% stake in CITIC Ltd. for an aggregate US$. billion drove the sector and represented the largest investment made by a Japanesecontrolled entity into China on record Japanese domestic deals declined.% from the comparable period in, recording a total of US$. billion in value from deals, which was the lowest first quarter volume since (US$. billion) According to Thomson Reuters/Freeman consulting, total estimated fees generated from completed Japanese involvement deals totaled US$. million, a.% decrease compared to the same period last year. Any Japanese Involvement Announced M&A Japanese Involvement Announced M&A Top Advisors by Target Industry Jan Mar Rank Val Mkt. No. US$m Rank Share Deals Financials,. Mizuho Financial Group,..,..,. *.,. *. CITIC,. *. Somerley,. *.,. *. Industrials,. Mizuho Financial Group,.. Gresham Partners,. *.,. *. High Technology,. Mitsubishi UFJ,..,.. Deloitte SEB Materials,.,.,. * *.. Sumitomo Mitsui Finl Grp Inc,.,..... Any Japanese Involvement by Market Rank Value (US$b) $ $ $ $ $ $ $ $ $ $. $. $. $. Q Volume (US$b) Q Volume (US$b) Q Volume (US$b) Q Volume (US$b) # of Deals YTD $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. $. Top Ten Japanese Involvement Announced Deals Rank Date Date Effective Target (% Sought/Acquired) Acquiror Acquiror / Target Nation Rank Value (US$m) // Pending Toll Holdings Ltd (%) Japan Post Co Ltd Japan / Australia,. // Pending CITIC Ltd (.%) Chia Tai Bright Investment Hong Kong / Hong Kong,. // Pending CITIC Ltd (%) Chia Tai Bright Investment Hong Kong / Hong Kong,. // Pending Royal Bk of ScotlandPortfolio (%) Mizuho Bank Ltd Japan / United States,. // Intended Axis AB (%) Canon Inc Japan / Sweden,. // Pending Polypore International Inc (%) Asahi Kasei Corp Japan / United States,. // Pending Higo Bank Ltd (%) Kagoshima Bank Ltd Japan / Japan,. // Pending DMG Mori Seiki AG (.%) DMG MORI GmbH Germany / Germany,. // Pending Domino Printing Sciences PLC (%) Brother Industries Ltd Japan / United Kingdom,. // Completed China Food Investment Corp (%) China Food Investment Corp Japan / Japan,. $.,,,,,, # of Deals Rank Value (US$b)......... Domestic Inbound Outbound Outbound Inbound Domestic Q Q Q Q Q Q Q Q Q Q Q Q Q # of Deals Jan Mar Target Macro / Mid Industry Industrials / Transportation & Infrastructure Financials / Other Financials Financials / Other Financials Financials / Credit Institutions High Technology / Software Materials / Chemicals Financials / Banks Industrials / Machinery Industrials / Machinery Consumer Products and Services / Professional Services

First Quarter Mergers & Acquisitions s Japan Rankings Any Japanese Involvement Announced (AD) Jan Mar Any Japanese Involvement Completed (AF) Jan Mar Rank Value Market Market # of Market Change in 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,.......,.... +,.... +...,.... + Ernst & Young LLP *,.... +...,.... GCA Savvian Group Corp,....... CITIC *,.... + * *,....... Somerley *,.... + ICICI Bank Ltd *,.... +... *,.... +,.... +... Mitsubishi UFJ,.... + Sumitomo Mitsui Finl Grp Inc,....... Gresham Partners Sumitomo Mitsui Finl Grp Inc,.,....... +,.,.............,.... + KPMG,....... Deloitte,....,....... KPMG,.... Development Bank of Japan Inc,.... +... SEB,.... + Mizuho Financial Group,....... Daiwa Securities Group Inc,.... +....... *,.,....... + + Daiwa Securities Group Inc Moelis & Co.............. PricewaterhouseCoopers,.... +.......,.... + PricewaterhouseCoopers.......,.... *.... +... Greenhill & Co, LLC,.... + Scotiabank *.... +... Mediobanca *.... + *....... Equita SIM SpA *.... + Mitsubishi UFJ Financial Group *....... Qatalyst Partners.... + Carlyle Group LP.... +...,.. +,.....%.%.%.%.%.%.%.%.%.% Japanese Involvement Announced M&A Target Industry by Value Japanese Target Completed M&A Fees $, Q Q Q Q # of Deals YTD.% $,.%.%.%.%.% Imputeed Fees (US$mil) $ $ $. $. $... $. $. $. $.. $.. $. $.... $.. $. $. $. $. $. $. $. Number of Deals Financials Industrials High Technology Materials Consumer Products and Services Real Estate Consumer Staples Healthcare Retail $ $ $. $. $. $. $. $. $. $. $. $. $. Media and Entertainment Energy and Power Telecommunications Visit it http://dmi.thomsonreuters.com th t to view archives and order custom League Tables th

First Quarter Mergers & Acquisitions s Fairness Opinion Rankings Worldwide Announced Fairness Opinion Jan Mar Any Americas Involvement Jan Mar Announced Fairness Opinion Any US Involvement Announced Fairness Opinion Jan Mar 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$m) # of Market Change in Rank Value Market # of Market Change in Rank Value Market # of Market Change in Rank Value Market Fairness Opinion Provider Rank Rank Deals Sh (%) # of Deals US$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 *. +,.. Sandler O'Neill Partners * *.,.. Sandler O'Neill Partners * *.,.. Southwest Securities Co Ltd *. +,.. Duff & Phelps * *... Duff & Phelps * *... China Securities Co Ltd *. +,.. BMO Capital Markets * *. +,.. Houlihan Lokey * *... Guotai Junan Securities. +,.. Houlihan Lokey * *... DA Davidson & Co Inc * *. +.. Industrial Securities Co Ltd *. +.. DA Davidson & Co Inc * *. +.. Simmons & Co International *. +.. CITIC * *. +,.. Simmons & Co International *. +.. Sterne Agee & Leach Inc * *. +.. Chinalion Securities Co Ltd. +.. Sterne Agee & Leach Inc * *. +.. Sheshunoff & Co Inc * *... Sinolink Securities Co Ltd Shenwan Hongyuan Group Co Ltd Duff & Phelps CMS Ltd. GF Securities * * * * * * * * *..... + + + +,.......... Cormark Securities Inc Sheshunoff & Co Inc Raymond James Financial Inc Ross Glanville and Associates Moelis & Co * * * * * * * *..... + + + +..,........ Prairie Capital Advisors Inc Qatalyst Partners Cormark Securities Inc * * * * * * *..... + + + +.,.,.,....... BMO Capital Markets Sandler O'Neill Partners * * * *.. + +,.,... Prairie Capital Advisors Inc Qatalyst Partners * *.. + +.,...,.. Houlihan Lokey * * * *..,.... * * * *.. +,.,....%.%.%.% * *.,.. Bruce McKnight Mineral Advisor *. +.. New Times Securities Co Ltd *... Evans & Evans Inc *. +.. Wallbanck Brothers Sec (HK) *. +.. * *.,.. Huaxi Securities Co Ltd * *. +..,.. Cormark Securities Inc *. +.. DA Davidson & Co Inc Simmons & Co International * * *.. + +.....%.%.%.% Sterne Agee & Leach Inc * *. +.. +,...%.%.%.% Any EMEA Inv Announced Fairness Opinion Jan Mar Any Asia Pacific Inv Announced Fairness Opinion Jan Mar Based on Number of Transactions Based on Number of Transactions Rank Value (US$m) Rank Value (US$m) # of Market Change in Rank Value Market # 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 (%) *. +,.. Huatai Securities Co Ltd *. +,... +,.. Southwest Securities Co Ltd. +,.. *. +,.. China Securities Co Ltd. +,.. *. +.. Guotai Junan Securities. +,.. PricewaterhouseCoopers *. +,.. Industrial Securities Co Ltd *. +.. * *.,.. CITIC * *. +,.. Sberbank CIB *. +.. Chinalion Securities Co Ltd. +.. * *... Sinolink Securities Co Ltd * *. +,.. Headwaters MB *. +.. Shenwan Hongyuan Group Co Ltd * *. +.. Liberum Capital *. +.. CMS Ltd. *. +.. ABG Sundal Collier *. +.. GF Securities *. +.. Zheshang Securities Co Ltd *. +.. New Times Securities Co Ltd *. +.. Guotai Junan Securities *. +,.. Wallbanck Brothers Sec (HK) *. +.. Deloitte * *.,.. Huaxi Securities Co Ltd * *. +.. Strutt & Parker LLP *. +.. China Merchants Securities Co *. +.. *. +.. *. +.. Duff & Phelps *. +.. Guoyuan Securities Co Ltd *. +..,.. Founder Securities Co Ltd *. +.. Essence Securities Co Ltd * *....%.% Donghai Securities Co Ltd * *. +...%.% Haitong Securities Co Ltd *.,.. Sealand Securities Co Ltd * *. +.. China Investment Sec Co Ltd * *. +.. +,.. Fairness Opinion rankings include fairness opinions provided as a standalone mandate as well as fairness opinions provided as part of a broader advisory mandate..%.%.%.% Any Japan Inv Announced Fairness Opinion Jan Mar Based on Number of Transactions Rank Value (US$m) # of Market Change in Rank Value Market Fairness Opinion Provider Rank Rank Deals Sh (%) # of Deals US$m Sh (%) *. +.. Mizuho Financial Group *. +,.. Deloitte *. +,.. *... Daiwa Securities Group Inc *. +,.. * *...,...%.%.%

First Quarter 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: robert.levine@thomsonreuters.com Announced league tables include all deals that were announced between January, and March, and of which Thomson Reuters was made aware. All current data and previous year's data is as of :pm EDT on March,. 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 Redina Doda Tel: + () Email: redina.doda@thomsonreuters.com AsiaPacific Kelvin Bian Tel: + Email: kelvin.bian@thomsonreuters.com Japan Kaori Motohashi Tel: + Email: kaori.motohashi@thomsonreuters.com 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. 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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