GLOBAL M&A MARKET REVIEW FINANCIAL RANKINGS

GLOBAL M&A MARKET REVIEW FINANCIAL INGS 2015

2015 GLOBAL M&A FINANCIAL ADVISORY INGS CONTENTS 1. Introduction 2. Global M&A Year in Review 3. Global M&A Heat Map 4. Global M&A Regional Review 5. Global M&A League Tables 6. Americas M&A Regional Review 7. Americas M&A League Tables 9. EMEA M&A Regional Review 10. EMEA M&A League Tables 13. APAC M&A Regional Review 14. APAC M&A League Tables 17. Disclaimer The Bloomberg M&A Advisory League Tables are the definitive publication of M&A advisory rankings. The tables represent the top financial and legal advisors across a broad array of deal types, regions, and industry sectors. The rankings data is comprised of mergers, acquisitions, divestitures, spin-offs, debt-for-equityswaps, joint ventures, private placements of common equity and convertible securities, and the cash injection component of recapitalization according to Bloomberg standards. Bloomberg M&A delivers real-time coverage of the M&A market from nine countries around the world. We provide a global perspective and local insight into unique deal structures in various markets through a network of over 800 financial and legal advisory firms, ensuring an accurate reflection of key market trends. Our quarterly league table rankings are a leading benchmark for legal and financial advisory performance, and our Bloomberg Brief newsletter provides summary highlights of weekly M&A activity and top deal trends. Visit {NI LEAG CRL <GO>} to download copies of the final release and a full range of market specific league table results. On the web, visit: http://www.bloomberg.com/professional/solutions/investment-banking/. Due to the dynamic nature of the Professional Service product, league table rankings may vary between this release and data found on the Bloomberg Professional Service. DATA SUBMISSIONS AND QUERIES Contact Phone Email North America Rachel Campanelli +1-646-324-4657 rcampanelli3@bloomberg.net EMEA Madeeha Ahmad +44-20-3525-3754 mchaudhry13@bloomberg.net Asia Pacific Ee Wen Tay +65-6231-3404 etay26@bloomberg.net General M&A queries may be submitted to: m-a@bloomberg.net, malondon@bloomberg.net, maasia@bloomberg.net 2015 Bloomberg Finance L.P. All rights reserved. 1

Global M&A Year in Review By John E. Morris, Editor Global M&A volume soared in 2015 to $4.3 trillion, surpassing its previous peak of $4.1 trillion in 2007. The most striking feature of the M&A landscape in 2015 was the number of very large deals 57 worth more than $10 billion. That compares to 39 in 2007 and 50 in 2006. There were nine deals announced in 2015 worth more than $50 billion. North America and Asia-Pacific accounted for the majority of M&A activity in 2015 while Europe and the rest of the world s contributions receded. The combined value of M&A involving North American targets was $2.3 trillion in 2015, up 27.8% from 2014, according to data compiled by Bloomberg. North America accounted for 53.5% of global deal volume in 2015, compared to a contribution of 43.9% in 2007. Meanwhile, European and Latin American deal volumes were each off more than 40% from their 2007 levels. European targets accounted for just 20.2% of deal value in 2015, compared to their 36.6% share in 2007. Deal multiples the prices buyers paid measured against key financial metrics rose sharply. Median deal multiples for revenue (1.7x), net income (23.7x), Ebitda (11.2x) and free cash flow (33.1x) all surpassed their 2007 levels. The median multiples of revenue and free cash flow both rose more than 20% from 2014. A Year in Review: Top M&A Deals Target: Hospira Inc Acquirer: Pfizer Inc USD 16.8B Target: BG Group PLC Acquirer: Royal Dutch Shell PLC USD 79.3B Target: Altera Corp Acquirer: Intel Corp USD 14.4B Target: Precision Castparts Corp Acquirer: Berkshire Hathaway Inc USD 35.7B Target: SABMiller PLC Acquirer: Anheuser - Busch InBev SA/NV USD 120.5B Target: EI du Pont de Nemours & Co Acquirer: The Dow Chemical Co USD 65.6B Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Target: Hutchison Whampoa Ltd Acquirer: CK Hutchison Holdings Ltd USD 41.7B Target: Kraft Foods Group Inc Acquirer: H.J. Heinz Co USD 55.4B Target: Time Warner Cable Inc Acquirer: Charter Communications Inc USD 79.2B Target: Cigna Corp Acquirer: Anthem Inc USD 50.4B Target: The Williams Cos Inc Acquirer: Energy Transfer Equity LP USD 58.1B Target: Pfizer Inc Acquirer: Allergan PLC USD 183.7B 2

Global M&A Heat Map Western Europe USD 1.2T 1. Goldman Sachs & Co 40.9% 2. JP Morgan Chase & Co 38.2% 3. Morgan Stanley 36.6% Eastern Europe USD 60.0B 1. JP Morgan Chase & Co 20.8% 2. VTB Capital 12.8% 3. Morgan Stanley 11.1% North America USD 2.7T 1. Goldman Sachs & Co 37.1% 2. Morgan Stanley 36.1% 3. JP Morgan Chase & Co 35.6% Asia Pacific USD 1.4T 1. Morgan Stanley 17.0% 2. Goldman Sachs & Co 16.1% 3. Citigroup Inc 11.7% Scale in USD Bln. 0-81 82-135 136-270 271-540 541-810 811-1,350 1,351-2,025 2,026-2,430 2,431-2,700 2,701 - Latin America & Caribbean USD 124.9B 1. Rothschild Ltd 14.0% 2. Goldman Sachs & Co 13.6% 3. Banco Itau BBA 13.6% Middle East & Africa USD 169.5B 1. JP Morgan Chase & Co 40.5% 2. Barclays PLC 27.7% 3. Greenhill & Co 23.9% Deal volume and adviser market share for any regional involvement (target, seller, or acquirer) for 2015. 3

Global M&A Regional Review Global merger and acquisition activity surged in 2015, reaching $4.3 trillion in volume and 38,644 in deal count, making it the most active year on record. The United States contributed $2.1 trillion in purchases representing 48.8% of global activity. The market environment in 2015 proved conducive for deal making due to the abundance of usable cash on corporate balance sheets, inexpensive debt, and low interest rates. Deals in the technology space swelled in 2015, attaining $364.8 billion in volume and over 5,000 in deal count, increasing 167.8% and 25.6% compared to 2014 figures respectively. Dell Inc s announced $63.5 billion purchase of EMC Corp contributed to 17.4% of the industry s increase and represented the largest technology deal announced on record. Due to the abundance of large deals, the average size of the top ten deals announced this year rose to $79.7 billion in 2015 up 81.1% from $44.0 billion of volume seen in 2014. Summary Date Global M&A: Highlights of 2015 Target Acquirer Total Value (Mln.) Global M&A: Premium Breakdown Global M&A: Industry Breakdown Amount (Bln.) % of Total Number of deals 38,644 11/23/2015 Pfizer Inc Allergan plc - $183,744.1 Consumer Non-cyclical $1,090.3 25.0% 57.1% Volume (Bln.) $4,321 Financial $838.4 19.2% 26.4% Avg Deal Size (Mln.) $112 Anheuser-Busch InBev Industrial $477.8 10.9% 44.7% 10/13/2015 SABMiller PLC - $120,481.3 SA/NV Communications $463.5 10.6% 4.3% Top Adviser 4/8/2015 BG Group PLC Royal Dutch Shell PLC - $79,308.5 Energy $424.7 9.7% -11.3% Goldman Sachs & Co Technology $364.8 8.4% 112.0% Number of deals 381 Consumer Cyclical $301.0 6.9% -8.2% 5/26/2015 Time Warner Cable Inc Charter Communications Inc - $79,249.7 Volume (Bln.) $1,477.4 Basic Materials $211.5 4.8% 37.0% Avg Deal Size (Bln.) $3.9 12/11/2015 EI du Pont de Nemours & Co Dow Chemical Co/The - $65,590.6 Utilities $112.8 2.6% 1.6% Diversified $81.5 1.9% 167.7% Seller Industry 35% 1% 1% 0-10% 6% 19% 38% 10-25% 25-50% 50-75% 75-100% 100%+ % YoY Change Global M&A Review 2015 Global M&A: Quarterly Volume $1,600 12,000 $1,400 10,000 $1,200 $1,000 8,000 $800 6,000 $600 4,000 $400 $200 2,000 $0 0 2010 Q4 2011 Q4 2012 Q4 2013 Q4 2014 Q4 2015 Q4 Volume (Bln.) Deal Count Quarterly Volume represents any involvement (target, seller, or acquirer). Deal Type Global M&A: Deal Type Breakdown Amount (Bln.) % Change Deal Count % Change Volume Company Takeover $2,943.1 14.8% 53.4% Cross Border $1,696.7 21.4% 21.9% Private Equity $817.4 23.7% 16.0% Asset Sale $685.7 7.0% 4.8% Tender Offer $229.0-1.3% -18.8% Venture Capital $114.9 25.4% 46.1% Spin-off $41.7-9.5% -81.6% Minority Purchase $378.0 24.8% 22.8% Majority Purchase $220.5 10.3% -14.7% 4

Global Announced Deals 01/01/2015-12/31/2015 Cross Border Announced Deals 01/01/2015-12/31/2015 Goldman Sachs & Co 1 34.2 1,477,345 381 1 30.3 3.9 JPMorgan Chase & Co 1 37.2 632,038 170 3 22.5 14.7 Morgan Stanley 2 32.4 1,399,125 363 4 18.0 14.4 Goldman Sachs & Co 2 31.3 531,188 209 1 32.4-1.1 JPMorgan Chase & Co 3 30.4 1,314,093 304 3 18.4 12.0 Morgan Stanley 3 31.2 528,733 184 2 26.6 4.5 Bank of America Merrill Lynch 4 23.3 1,005,664 243 2 20.4 2.9 Bank of America Merrill Lynch 4 30.0 509,271 138 7 17.2 12.8 Credit Suisse Group AG 5 17.3 747,940 204 9 10.4 6.9 Lazard Ltd 5 19.4 328,383 135 5 18.7 0.6 Citigroup Inc 6 17.0 734,744 268 5 17.1-0.1 Deutsche Bank AG 6 18.4 312,628 107 4 19.6-1.2 Lazard Ltd 7 16.0 692,926 221 7 13.7 2.3 Barclays PLC 7 18.3 310,964 104 9 12.1 6.2 Barclays PLC 8 14.2 614,201 189 6 14.2 0.0 Credit Suisse Group AG 8 14.5 245,641 105 8 12.3 2.2 Deutsche Bank AG 9 13.5 581,289 182 8 11.9 1.6 Rothschild Ltd 9 13.0 219,757 210 10 11.7 1.3 Centerview Partners LLC 10 11.2 485,778 40 12 4.6 6.6 Citigroup Inc 10 12.2 206,726 146 6 18.4-6.2 UBS AG 11 9.4 403,959 154 11 5.4 3.9 Robey Warshaw LLP 11 11.8 200,349 3 39 0.9 10.9 Guggenheim Capital LLC 12 8.2 353,463 18 48 0.6 7.6 BNP Paribas SA 12 11.3 192,314 75 11 7.1 4.2 Moelis & Co 13 7.6 329,652 103 31 1.2 6.4 UBS AG 13 7.5 126,951 85 13 6.9 0.6 Rothschild Ltd 14 6.8 294,892 309 10 6.1 0.7 Standard Bank of South Africa Ltd/The 14 7.2 121,881 4 205 0.0 7.2 Evercore Partners Inc 15 6.3 272,566 134 15 3.7 2.6 HSBC Bank PLC 15 4.8 80,778 52 14 5.8-1.0 RBC Capital Markets 16 5.0 217,872 134 17 3.4 1.6 Evercore Partners Inc 16 4.2 70,753 54 22 2.8 1.4 BNP Paribas SA 17 4.8 205,879 106 13 4.1 0.7 Moelis & Co 17 3.6 60,275 47 52 0.6 3.0 Robey Warshaw LLP 18 4.6 200,349 3 47 0.6 4.0 Greenhill & Co Inc 18 3.4 57,581 27 41 0.8 2.6 LionTree Advisors LLC 19 4.0 172,511 12 145 0.1 3.9 Societe Generale SA 19 2.6 44,292 34 16 4.2-1.6 HSBC Bank PLC 20 3.6 155,385 67 19 2.7 0.9 Macquarie Group Ltd 20 2.5 42,498 51 19 3.6-1.1 TOTAL 4,322,112 38,654 3,397,409 TOTAL 1,697,493 14,274 Global Private Equity Announced Deals 01/01/2015-12/31/2015 (Mln) COUNT JPMorgan Chase & Co 1 23.3 190,539 99 3 19.6 3.7 Goldman Sachs & Co 2 20.0 163,440 138 1 28.2-8.2 Morgan Stanley 3 19.8 162,215 118 2 20.5-0.7 Bank of America Merrill Lynch 4 17.8 145,512 83 7 15.4 2.4 Citigroup Inc 5 15.4 125,947 78 6 15.9-0.5 Credit Suisse Group AG 6 13.3 108,477 77 10 9.7 3.5 Barclays PLC 7 12.3 100,238 82 5 16.3-4.0 Deutsche Bank AG 8 11.8 96,279 62 4 17.2-5.4 Centerview Partners LLC 9 6.5 53,359 15 16 4.5 2.0 UBS AG 10 6.2 51,054 47 9 9.7-3.5 Wells Fargo & Co 11 5.7 46,820 26 12 5.5 0.2 RBC Capital Markets 12 5.6 45,858 45 11 8.0-2.4 Rothschild Ltd 13 5.4 43,888 129 13 5.5-0.1 Macquarie Group Ltd 14 5.0 40,448 41 20 2.8 2.1 Moelis & Co 15 4.4 35,642 49 28 1.6 2.8 Lazard Ltd 16 3.5 28,403 92 8 12.3-8.8 Jefferies LLC 17 3.4 28,060 71 15 4.8-1.4 BNP Paribas SA 18 3.4 27,643 33 22 2.7 0.7 Guggenheim Capital LLC 19 2.9 23,450 5 63 0.3 2.6 PJT Partners Inc 20 2.7 21,759 14 - - 2.7 TOTAL 817,933 10,695 (Mln) COUNT 704,548 2015 VOLUME USD (Mln) DEAL COUNT 2014 1,391,783 5

Americas M&A Regional Review Deal volume in the Americas reached $2.8 trillion, making it the most active year for the region on record, surpassing the previous high in 2007 by 20.6%. The fourth quarter contributed over 31.5% to volume in 2015. The consumer non-cyclical industry was the most targeted in the region with $733.8 billion accounting for 31.9% of the Americas deals. Pfizer Inc and Allergan PLC s announced merger for over $183.7 billion contributed to one-fourth of the industry s volume. This merger was both the largest of 2015 and the largest ever for a company within the consumer non-cyclical space. Private equity deals for targets based in the Americas reached their highest levels since 2007, and represented 57.5% of global private equity deals this year. Latin American and Caribbean deal-making experienced its lowest volume since 2009, reaching only $124.9 billion. Americas M&A: Highlights of 2015 Americas M&A: Country Breakdown Amount % YoY Country United States (Bln.) $2,189.0 % of Total 93.2% Change 33.6% Canada $68.2 2.9% -42.6% Brazil $39.3 1.7% -29.6% Mexico $14.6 0.6% -29.2% British Virgin Islands $8.4 0.4% 8.7% Bermuda $8.1 0.3% 70.8% Chile $5.8 0.2% -70.4% Colombia $0.5 0.0% -87.0% Americas M&A: Industry Breakdown Total Value Amount % YoY Summary Date Target Acquirer Seller (Mln.) Industry (Bln.) % of Total Change Number of deals 16,812 Consumer Non-cyclical $733.8 31.2% 51.2% 11/23/2015 Pfizer Inc Allergan plc - $183,744.1 Volume (Bln.) $2,348.4 Financial $357.3 15.2% 42.3% Avg Deal Size (Mln.) $139.7 Technology $274.9 11.7% 120.6% 5/26/2015 Time Warner Cable Inc Charter Communications Inc - $79,249.7 Energy $231.1 9.8% -37.1% Top Adviser Communications $218.7 9.3% -12.7% 12/11/2015 EI du Pont de Nemours & Co Dow Chemical Co/The - $65,590.6 Goldman Sachs & Co Industrial $205.3 8.7% 90.6% Number of deals 228 Consumer Cyclical $135.5 5.8% -10.0% 10/12/2015 EMC Corp/MA Dell Inc - $63,490.5 Volume (Bln.) $933.7 Basic Materials $129.8 5.5% 64.2% Avg Deal Size (Bln.) $4.1 Utilities $57.8 2.5% -18.5% 9/28/2015 Williams Cos Inc/The Energy Transfer Equity LP - $58,093.3 Diversified $6.9 0.3% -21.8% Global M&A Review 2015 Americas M&A: Quarterly Volume $1,000 6,000 $800 5,000 $600 4,000 3,000 $400 2,000 $200 1,000 $0 0 2010 Q4 2011 Q4 2012 Q4 2013 Q4 2014 Q4 2015 Q4 Volume (Bln.) Deal Count Quarterly Volume represents any involvement (target, seller, or acquirer). Americas M&A: Deal Type Breakdown Amount (Bln.) % Change Deal Count % Change Volume Deal Type Company Takeover $1,788.8 9.6% 51.2% Cross Border $600.1 20.4% 15.3% Private Equity $469.8 17.9% 24.5% Asset Sale $372.0 0.4% 7.9% Tender Offer $111.9 16.0% 34.6% Venture Capital $64.4 10.3% 22.5% Spin-off $15.8-9.5% -91.8% Minority Purchase $132.4 15.2% 17.7% Majority Purchase $26.1 11.2% -47.4% 6

US Announced Deals (Any Involvement) 01/01/2015-12/31/2015 US Announced Deals (Target or Seller) 01/01/2015-12/31/2015 Goldman Sachs & Co 1 38.6 994,223 260 1 36.5 2.1 Morgan Stanley 1 40.0 918,526 183 6 17.1 22.9 Morgan Stanley 2 37.3 960,771 215 6 17.7 19.6 Goldman Sachs & Co 2 40.0 917,582 206 1 39.4 0.6 JPMorgan Chase & Co 3 36.5 939,765 192 3 21.7 14.8 JPMorgan Chase & Co 3 37.6 862,601 155 3 21.4 16.2 Bank of America Merrill Lynch 4 25.5 657,680 167 2 24.6 0.9 Bank of America Merrill Lynch 4 27.1 622,356 141 2 26.3 0.8 Credit Suisse Group AG 5 23.0 592,999 133 9 10.2 12.8 Citigroup Inc 5 24.7 566,958 135 4 21.1 3.6 Citigroup Inc 6 22.6 582,604 150 4 20.4 2.2 Credit Suisse Group AG 6 23.8 546,520 109 9 10.0 13.8 Centerview Partners LLC 7 18.6 480,532 38 10 7.7 11.0 Centerview Partners LLC 7 20.8 476,782 36 10 7.6 13.1 Barclays PLC 8 17.7 457,204 133 5 18.5-0.8 Barclays PLC 8 18.9 433,832 108 5 19.4-0.6 Lazard Ltd 9 16.3 421,087 117 7 15.3 1.0 Lazard Ltd 9 17.2 395,204 90 7 15.2 2.0 Guggenheim Capital LLC 10 13.7 353,463 18 31 1.0 12.7 Guggenheim Capital LLC 10 15.4 353,065 16 29 1.2 14.2 UBS AG 11 12.1 311,422 68 13 4.9 7.2 Moelis & Co 11 13.2 303,259 79 21 1.8 11.4 Moelis & Co 12 11.8 304,297 87 22 1.7 10.1 UBS AG 12 12.3 283,209 55 13 4.8 7.6 Deutsche Bank AG 13 11.3 290,418 104 8 10.8 0.5 Deutsche Bank AG 13 11.4 261,870 82 8 10.3 1.1 Evercore Partners Inc 14 9.6 247,656 105 12 5.2 4.4 Evercore Partners Inc 14 10.5 241,326 95 12 5.8 4.8 RBC Capital Markets 15 7.3 188,162 85 14 4.0 3.3 RBC Capital Markets 15 8.2 187,576 80 17 3.4 4.8 LionTree Advisors LLC 16 6.4 164,037 10 118 0.0 6.3 LionTree Advisors LLC 16 7.1 164,037 10 103 0.0 7.1 Rothschild Ltd 17 4.0 104,185 92 18 3.0 1.1 Allen & Co Inc 17 4.0 92,812 14 16 3.5 0.5 Allen & Co Inc 18 3.7 95,812 15 17 3.1 0.6 Greenhill & Co Inc 18 3.3 75,428 20 18 2.6 0.7 Greenhill & Co Inc 19 3.5 89,010 28 19 2.4 1.1 Needham & Co Inc 19 3.0 68,577 17 88 0.1 2.9 Wells Fargo & Co 20 2.7 68,709 51 15 3.8-1.2 M Klein & Co LLC 20 2.9 65,591 1 - - 2.9 TOTAL 2,578,035 17,810 2,022,232 TOTAL 2,296,983 14,493 1,792,843 Canada Announced Deals (Any Involvement) 01/01/2015-12/31/2015 Canada Announced Deals (Target or Seller) 01/01/2015-12/31/2015 (Mln) COUNT (Mln) COUNT JPMorgan Chase & Co 1 39.9 125,965 30 2 26.2 13.7 RBC Capital Markets 1 21.0 18,738 39 1 28.0-7.0 Bank of America Merrill Lynch 2 25.6 80,768 18 10 9.5 16.1 CIBC 2 19.6 17,531 35 15 8.2 11.4 Morgan Stanley 3 25.5 80,588 22 6 12.3 13.2 BMO Capital Markets Corp/Toronto 3 18.5 16,502 29 6 13.2 5.3 Goldman Sachs & Co 4 14.8 46,621 22 1 26.3-11.5 TD Securities Inc 4 13.2 11,824 26 10 9.1 4.1 RBC Capital Markets 5 14.2 44,880 55 3 20.5-6.3 JPMorgan Chase & Co 5 10.7 9,568 8 2 26.4-15.6 Barclays PLC 6 12.9 40,658 16 4 19.7-6.9 Goldman Sachs & Co 6 8.3 7,420 7 3 20.3-12.0 Deutsche Bank AG 7 12.2 38,387 17 7 11.3 0.9 Morgan Stanley 7 6.8 6,071 9 5 13.7-6.9 Citigroup Inc 8 12.0 37,915 14 5 16.8-4.8 BNP Paribas SA 8 5.2 4,636 3 41 0.2 5.0 BMO Capital Markets Corp/Toronto 9 11.0 34,796 37 9 9.8 1.3 Deutsche Bank AG 9 5.1 4,573 6 7 12.9-7.8 Credit Suisse Group AG 10 10.8 34,211 16 14 6.3 4.6 National Bank Financial Inc 10 4.8 4,272 19 16 7.0-2.2 Moelis & Co 11 8.8 27,793 11 51 0.2 8.7 Bank of Nova Scotia/The 11 4.7 4,165 8 8 10.9-6.2 CIBC 12 8.4 26,499 40 12 6.7 1.7 PJT Partners Inc 12 4.6 4,060 2 - - 4.6 BNP Paribas SA 13 7.1 22,471 5 40 0.4 6.7 Bank of America Merrill Lynch 13 4.4 3,930 6 13 8.7-4.3 PJT Partners Inc 14 6.9 21,896 3 - - 6.9 Jefferies LLC 14 4.2 3,710 5 25 1.0 3.2 Guggenheim Capital LLC 15 5.7 17,954 2 29 1.1 4.6 Macquarie Group Ltd 15 3.9 3,501 13 21 1.9 2.0 Macquarie Group Ltd 16 5.5 17,255 22 15 6.0-0.5 Rothschild Ltd 16 3.8 3,423 9 31 0.6 3.3 Bank of Nova Scotia/The 17 5.0 15,841 13 8 10.2-5.2 LionTree Advisors LLC 17 3.5 3,120 2 - - 3.5 HSBC Bank PLC 18 4.0 12,561 5 47 0.2 3.7 GMP Securities LP 18 2.8 2,511 14 29 0.7 2.2 TD Securities Inc 19 3.7 11,824 28 11 6.8-3.0 Canaccord Genuity Corp 19 2.6 2,359 8 19 3.5-0.9 UBS AG 20 3.6 11,376 11 26 1.5 2.1 HSBC Bank PLC 20 2.4 2,161 3 36 0.4 2.1 TOTAL 315,774 2,985 232,478 TOTAL 89,277 2,106 147,120 (Mln) COUNT (Mln) COUNT 7

Latin America Announced Deals (Any Involvement) 01/01/2015-12/31/2015 Brazil Announced Deals (Any Involvement) 01/01/2015-12/31/2015 (Mln) COUNT Banco Itau BBA SA 1 23.9 16,956 51 4 25.6-1.7 Banco Itau BBA SA 1 32.3 15,593 42 1 39.3-7.0 Rothschild Ltd 2 23.7 16,790 18 8 21.6 2.2 Rothschild Ltd 2 30.3 14,609 13 3 37.0-6.7 Banco Bradesco BBI SA 3 19.4 13,722 21 13 8.6 10.8 Banco Bradesco BBI SA 3 28.4 13,722 21 12 14.5 14.0 Goldman Sachs & Co 4 19.1 13,522 17 2 29.0-9.9 Bank of America Merrill Lynch 4 21.7 10,477 12 9 24.6-2.9 Banco Santander SA 5 18.6 13,174 16 10 15.5 3.1 HSBC Bank PLC 5 20.6 9,952 3 32 0.5 20.1 JPMorgan Chase & Co 6 13.1 9,258 11 5 25.5-12.4 Deutsche Bank AG 6 20.4 9,847 4 8 29.5-9.1 Deutsche Bank AG 7 13.0 9,174 7 3 27.3-14.4 Banco Santander SA 7 19.2 9,258 11 10 20.5-1.3 Banco BTG Pactual SA 8 11.6 8,226 20 9 20.4-8.8 Goldman Sachs & Co 8 17.2 8,278 9 5 34.3-17.1 Credit Suisse Group AG 9 11.5 8,154 13 1 29.8-18.3 Morgan Stanley 9 16.3 7,857 8 7 30.1-13.8 HSBC Bank PLC 10 9.4 6,682 6 25 2.7 6.7 Banco BTG Pactual SA 10 15.7 7,575 16 4 36.3-20.6 Bank of America Merrill Lynch 11 7.7 5,417 16 6 24.0-16.3 Credit Suisse Group AG 11 15.0 7,222 11 2 38.8-23.8 UBS AG 12 7.1 5,009 7 23 3.3 3.8 JPMorgan Chase & Co 12 14.6 7,032 5 6 31.5-17.0 Citigroup Inc 13 6.2 4,420 16 11 12.4-6.2 Moelis & Co 13 8.9 4,280 1 38 0.4 8.5 Morgan Stanley 14 6.1 4,297 13 7 21.6-15.5 UBS AG 14 8.6 4,153 5 18 4.7 3.9 Alfaro Davila y Rios SC 15 3.0 2,150 1 - - 3.0 BR Partners 15 4.1 1,996 12 22 2.7 1.5 BR Partners 16 2.9 2,076 13 27 1.6 1.3 Nomura Holdings Inc 16 2.6 1,234 2 25 1.0 1.5 Banco Bilbao Vizcaya Argentaria SA 17 2.2 1,528 11 35 0.5 1.7 Banco do Brasil SA 17 2.2 1,062 5 42 0.3 1.9 Barclays PLC 18 2.0 1,388 3 19 4.8-2.9 Citigroup Inc 18 2.1 1,014 5 15 7.2-5.1 Nomura Holdings Inc 19 1.7 1,234 2 29 1.2 0.6 Bank of Nova Scotia/The 19 1.9 900 1 - - 1.9 Bank of Nova Scotia/The 20 1.5 1,064 3 43 0.2 1.3 Caixa Banco de Investimento SA 20 1.8 876 1 47 0.1 1.7 TOTAL 70,832 860 125,352 TOTAL 48,271 528 74,409 Latin America Announced Deals (Target or Seller) 01/01/2015-12/31/2015 Brazil Announced Deals (Target or Seller) 01/01/2015-12/31/2015 (Mln) COUNT Banco Itau BBA SA 1 23.9 16,956 51 4 25.6-1.7 Banco Itau BBA SA 1 37.5 15,360 40 1 43.1-5.6 Rothschild Ltd 2 23.7 16,790 18 8 21.6 2.2 Rothschild Ltd 2 35.6 14,609 13 3 38.7-3.0 Banco Bradesco BBI SA 3 19.4 13,722 21 13 8.6 10.8 Banco Bradesco BBI SA 3 33.5 13,722 21 12 15.8 17.6 Goldman Sachs & Co 4 19.1 13,522 17 2 29.0-9.9 Banco Santander SA 4 22.6 9,258 10 10 21.7 0.9 Banco Santander SA 5 18.6 13,174 16 10 15.5 3.1 Goldman Sachs & Co 5 20.2 8,278 9 5 35.7-15.5 JPMorgan Chase & Co 6 13.1 9,258 11 5 25.5-12.4 Banco BTG Pactual SA 6 17.9 7,332 14 4 36.4-18.5 Deutsche Bank AG 7 13.0 9,174 7 3 27.3-14.4 Credit Suisse Group AG 7 17.6 7,222 11 2 40.7-23.0 Banco BTG Pactual SA 8 11.6 8,226 20 9 20.4-8.8 JPMorgan Chase & Co 8 17.2 7,032 5 8 32.1-14.9 Credit Suisse Group AG 9 11.5 8,154 13 1 29.8-18.3 HSBC Bank PLC 9 13.8 5,672 2 29 0.6 13.3 HSBC Bank PLC 10 9.4 6,682 6 25 2.7 6.7 Bank of America Merrill Lynch 10 10.5 4,297 8 9 25.1-14.6 Bank of America Merrill Lynch 11 7.7 5,417 16 6 24.0-16.3 Deutsche Bank AG 11 10.0 4,117 2 6 32.3-22.3 UBS AG 12 7.1 5,009 7 23 3.3 3.8 UBS AG 12 9.6 3,920 4 18 5.1 4.4 Citigroup Inc 13 6.2 4,420 16 11 12.4-6.2 Morgan Stanley 13 7.8 3,217 6 7 32.2-24.3 Morgan Stanley 14 6.1 4,297 13 7 21.6-15.5 BR Partners 14 4.9 1,996 10 22 2.9 1.9 Alfaro Davila y Rios SC 15 3.0 2,150 1 - - 3.0 Nomura Holdings Inc 15 3.0 1,234 2 23 1.1 1.9 BR Partners 16 2.9 2,076 13 27 1.6 1.3 Banco do Brasil SA 16 2.6 1,062 5 36 0.3 2.3 Banco Bilbao Vizcaya Argentaria SA 17 2.2 1,528 11 35 0.5 1.7 Citigroup Inc 17 2.5 1,014 5 15 7.9-5.4 Barclays PLC 18 2.0 1,388 3 19 4.8-2.9 Bank of Nova Scotia/The 18 2.2 900 1 - - 2.2 Nomura Holdings Inc 19 1.7 1,234 2 29 1.2 0.6 Caixa Banco de Investimento SA 19 2.1 876 1 42 0.1 2.0 Bank of Nova Scotia/The 20 1.5 1,064 3 43 0.2 1.3 Estater Gestao e Financas SA 20 2.0 813 2 16 7.0-5.0 TOTAL 70,832 860 125,352 TOTAL 41,015 478 67,888 (Mln) COUNT (Mln) COUNT 8

EMEA M&A Regional Review Deal volume involving EMEA-based targets reached a post-recession high of $921.5 billion, representing an 8.6% increase from volume in 2014. This jump is a 62.1% decrease from the 22.7% growth in volume experienced from 2013 to 2014. Anheuser-Busch InBev SA/NV and SABMiller PLC, both EMEA based, announced a merger valued at $120.5 billion. This is the fifth largest deal on record which brought global deal volume in the beverage sector to an all-time high of $180.3 billion. France experienced the most notable decline in capital inflow from M&A activity since last year, down 56.0% from 2014 volume to $59.5 billion. Companies based in the United Kingdom were both the most targeted and acquisitive in the region. Deal volume for UK targets grew 87.3% from 2014 to $429.1 billion, while acquisitions by British companies reached $190.2 billion globally. Nearly 20% of acquisitions made by EMEA-region companies came from UK buyers. EMEA M&A Highlights of 2015 EMEA M&A: Country Breakdown Amount % YoY Country United Kingdom (Bln.) $429.0 % of Total 46.6% Change 87.9% Germany $90.4 9.8% -0.3% France $59.5 6.5% -56.0% Italy $49.5 5.4% 32.6% Netherlands $39.6 4.3% -1.3% Spain $38.3 4.2% -20.5% Switzerland $21.2 2.3% -47.5% Finland $14.5 1.6% -2.6% EMEA M&A: Industry Breakdown Summary Date Target Acquirer Seller Total Value (Mln.) Industry Amount (Bln.) % of Total % YoY Change Number of deals 10,295 Anheuser-Busch InBev Consumer Non-cyclical $245.8 26.4% 110.4% 10/13/2015 SABMiller PLC - $120,481.3 Volume (Bln.) $922 SA/NV Financial $209.9 22.5% -5.1% Avg Deal Size (Mln.) $89.5 Energy $116.1 12.5% 146.1% 4/8/2015 BG Group PLC Royal Dutch Shell PLC - $79,308.5 Communications $96.9 10.4% -32.1% Top Adviser Industrial $93.9 10.1% -29.1% 11/2/2015 Visa Europe Ltd Visa Inc (Multiple) $18,184.7 Goldman Sachs & Co Consumer Cyclical $76.4 8.2% -28.7% Number of deals 124 Technology $32.0 3.4% 30.3% 10/14/2015 Deutsche Wohnen AG Vonovia SE - $15,232.6 Volume (Bln.) $432.8 Basic Materials $24.0 2.6% -6.2% Avg Deal Size (Bln.) $3.5 3/24/2015 Telefonica UK Ltd Hutchison Whampoa Ltd - $15,125.1 Utilities $20.9 2.2% 11.2% Diversified $15.3 1.6% 20.1% Global M&A Review 2015 EMEA M&A: Quarterly Volume $500 4,000 $400 3,000 $300 2,000 $200 $100 1,000 $0 0 2010 Q4 2011 Q4 2012 Q4 2013 Q4 2014 Q4 2015 Q4 Volume (Bln.) Deal Count Quarterly Volume represents any involvement (target, seller, or acquirer). EMEA M&A: Deal Type Breakdown Amount (Bln.) % Change Deal Count % Change Volume Deal Type Company Takeover $626.3 21.8% 45.1% Cross Border $754.9 21.0% 22.8% Private Equity $187.6 21.0% -10.6% Asset Sale $150.4 18.5% -26.2% Tender Offer $90.8-25.0% -38.5% Venture Capital $15.7 19.3% 43.0% Spin-off $3.1-48.6% -83.3% Minority Purchase $59.2 11.0% -16.9% Majority Purchase $63.6 2.4% -46.0% 9

Europe Announced Deals (Any Involvement) 01/01/2015-12/31/2015 Europe Announced Deals (Target or Seller) 01/01/2015-12/31/2015 Goldman Sachs & Co 1 39.9 493,820 148 1 31.0 8.9 Goldman Sachs & Co 1 43.2 418,807 119 1 31.5 11.7 JPMorgan Chase & Co 2 37.6 466,115 129 3 25.2 12.5 JPMorgan Chase & Co 2 41.3 400,234 107 5 22.2 19.1 Morgan Stanley 3 35.8 443,661 130 2 28.0 7.9 Bank of America Merrill Lynch 3 34.9 338,405 83 6 20.1 14.8 Bank of America Merrill Lynch 4 34.0 421,691 106 6 19.3 14.7 Morgan Stanley 4 34.7 337,025 102 2 29.1 5.7 Lazard Ltd 5 26.5 328,710 147 5 21.9 4.7 Lazard Ltd 5 31.7 307,052 127 4 22.5 9.1 Deutsche Bank AG 6 23.2 287,778 87 4 23.5-0.3 Deutsche Bank AG 6 26.6 257,822 72 3 24.0 2.6 Barclays PLC 7 19.2 237,361 92 10 13.7 5.5 Rothschild Ltd 7 20.8 201,373 240 7 17.5 3.3 Rothschild Ltd 8 18.7 231,547 258 8 14.3 4.4 Robey Warshaw LLP 8 20.7 200,349 3 23 2.0 18.6 BNP Paribas SA 9 16.5 203,907 94 11 10.9 5.5 Barclays PLC 9 19.9 193,247 78 10 14.7 5.2 Robey Warshaw LLP 10 16.2 200,349 3 26 1.8 14.4 BNP Paribas SA 10 16.7 161,993 83 11 13.2 3.5 Credit Suisse Group AG 11 15.5 191,889 69 9 13.8 1.7 Credit Suisse Group AG 11 13.0 126,161 52 9 16.0-3.0 Citigroup Inc 12 13.3 164,568 111 7 18.2-4.9 Standard Bank of South Africa Ltd/The 12 12.5 121,499 3 - - 12.5 Standard Bank of South Africa Ltd/The 13 9.8 121,499 3 235-9.8 Citigroup Inc 13 9.5 91,811 89 8 16.4-6.9 UBS AG 14 8.1 100,034 64 12 8.7-0.7 UBS AG 14 9.1 87,891 56 13 8.8 0.3 HSBC Bank PLC 15 5.3 65,217 37 16 6.1-0.8 HSBC Bank PLC 15 6.1 59,312 32 15 7.4-1.3 Perella Weinberg Partners LP 16 4.5 55,499 5 17 5.4-1.0 Perella Weinberg Partners LP 16 5.3 51,260 4 16 6.4-1.1 Societe Generale SA 17 4.2 52,139 56 14 6.8-2.5 Societe Generale SA 17 4.0 38,368 52 14 8.2-4.2 Nomura Holdings Inc 18 3.1 38,476 34 24 1.9 1.2 Ernst & Young 18 3.5 34,360 171 18 4.9-1.3 Evercore Partners Inc 19 3.1 38,289 40 20 2.4 0.7 Evercore Partners Inc 19 3.1 29,962 32 22 2.2 0.9 Ernst & Young 20 2.9 35,765 186 18 4.6-1.7 Credit Agricole Corporate & Investment Bank SA 20 2.6 25,620 26 12 10.2-7.5 TOTAL 1,238,781 12,046 1,179,890 TOTAL 970,296 9,758 908,532 UK Announced Deals (Any Involvement) 01/01/2015-12/31/2015 Germany Announced Deals (Any Involvement) 01/01/2015-12/31/2015 (Mln) COUNT (Mln) COUNT Goldman Sachs & Co 1 51.9 320,669 86 1 30.6 21.3 Deutsche Bank AG 1 31.3 48,136 24 1 40.8-9.5 JPMorgan Chase & Co 2 51.5 318,360 58 2 30.0 21.5 Credit Suisse Group AG 2 26.0 39,960 10 14 6.9 19.1 Bank of America Merrill Lynch 3 42.8 264,452 38 6 18.9 23.9 JPMorgan Chase & Co 3 23.8 36,641 17 3 34.7-10.9 Morgan Stanley 4 42.6 262,951 48 3 24.3 18.3 Rothschild Ltd 4 18.6 28,578 33 9 14.2 4.4 Lazard Ltd 5 37.7 232,898 47 5 19.5 18.2 Citigroup Inc 5 18.6 28,554 15 7 18.4 0.2 Barclays PLC 6 33.0 204,004 56 4 20.3 12.7 Bank of America Merrill Lynch 6 18.3 28,143 12 5 28.9-10.6 Robey Warshaw LLP 7 32.4 200,349 3 15 4.6 27.8 Goldman Sachs & Co 7 16.8 25,853 11 4 33.6-16.8 Deutsche Bank AG 8 29.0 179,157 35 7 15.6 13.4 Morgan Stanley 8 14.1 21,692 18 2 39.5-25.4 Rothschild Ltd 9 23.9 147,513 117 10 8.5 15.4 Ernst & Young 9 12.2 18,828 58 10 8.9 3.4 BNP Paribas SA 10 23.1 142,774 22 17 3.8 19.4 Lazard Ltd 10 11.7 17,935 17 8 16.5-4.9 Standard Bank of South Africa Ltd/The 11 19.7 121,499 2 127 0.0 19.7 Perella Weinberg Partners LP 11 11.6 17,897 2 12 8.3 3.3 UBS AG 12 12.5 77,306 31 11 8.5 4.0 Moelis & Co 12 4.1 6,337 2 46 0.1 4.0 Credit Suisse Group AG 13 10.5 64,991 27 13 6.6 4.0 Qatalyst Partners LLC 13 2.7 4,122 1 - - 2.7 Citigroup Inc 14 5.6 34,638 32 8 12.2-6.6 China International Capital Corp Ltd 14 2.6 3,961 1 - - 2.6 Perella Weinberg Partners LP 15 5.4 33,363 2 12 6.8-1.4 UniCredit SpA 15 2.1 3,205 7 29 0.9 1.2 HSBC Bank PLC 16 5.2 32,400 16 19 3.1 2.2 Evercore Partners Inc 16 2.0 3,076 3 23 1.3 0.7 Evercore Partners Inc 17 4.3 26,843 24 20 2.7 1.6 KPMG Corporate Finance LLC 17 1.7 2,547 35 28 1.0 0.7 RBC Capital Markets 18 3.8 23,449 26 16 4.4-0.6 Centerview Partners LLC 18 1.6 2,451 1 55 0.1 1.5 Moelis & Co 19 3.7 23,101 15 38 0.6 3.1 CBRE Capital Advisors Inc 19 1.4 2,112 4 83-1.4 PJT Partners Inc 20 3.5 21,717 6 - - 3.5 Jefferies LLC 20 1.3 1,976 5 45 0.1 1.2 TOTAL 618,009 4,768 460,047 TOTAL 153,908 1,932 235,766 (Mln) COUNT (Mln) COUNT 10

France Announced Deals (Any Involvement) 01/01/2015-12/31/2015 Italy Announced Deals (Any Involvement) 01/01/2015-12/31/2015 Bank of America Merrill Lynch 1 37.5 60,387 14 8 29.4 8.1 JPMorgan Chase & Co 1 45.2 51,433 9 7 17.2 28.0 Goldman Sachs & Co 2 35.8 57,744 17 2 48.4-12.5 Goldman Sachs & Co 2 44.0 50,154 17 4 28.5 15.5 BNP Paribas SA 3 34.9 56,235 50 5 37.9-3.0 Morgan Stanley 3 42.8 48,743 13 1 32.6 10.2 Rothschild Ltd 4 31.5 50,767 101 4 39.0-7.5 Bank of America Merrill Lynch 4 34.1 38,888 14 3 29.6 4.5 Morgan Stanley 5 31.3 50,368 22 3 48.3-17.0 Barclays PLC 5 24.1 27,432 9 5 27.3-3.2 Citigroup Inc 6 31.1 50,057 21 11 24.5 6.6 UBS AG 6 23.3 26,495 10 19 3.6 19.6 Societe Generale SA 7 29.7 47,787 47 10 26.1 3.6 Lazard Ltd 7 19.9 22,642 23 2 30.1-10.3 JPMorgan Chase & Co 8 23.1 37,269 19 13 21.7 1.4 BNP Paribas SA 8 18.3 20,838 11 12 7.6 10.7 Credit Suisse Group AG 9 16.9 27,278 15 6 37.3-20.4 PJT Partners Inc 9 16.1 18,284 2 - - 16.1 Barclays PLC 10 15.2 24,467 20 14 20.2-5.0 Guggenheim Capital LLC 10 15.7 17,835 1 - - 15.7 Credit Agricole Corporate & Investment Bank SA 11 13.5 21,719 24 7 33.1-19.6 Credit Suisse Group AG 11 14.6 16,629 9 10 12.3 2.3 Deutsche Bank AG 12 13.1 21,164 12 9 27.2-14.0 Rothschild Ltd 12 13.0 14,844 28 8 13.3-0.2 Lazard Ltd 13 12.4 19,940 45 1 49.4-37.0 Citigroup Inc 13 12.5 14,225 16 9 13.2-0.7 Nomura Holdings Inc 14 11.4 18,437 7 97-11.4 Deutsche Bank AG 14 11.8 13,458 8 6 25.4-13.6 HSBC Bank PLC 15 11.4 18,380 9 12 22.2-10.8 HSBC Bank PLC 15 10.5 11,983 6 29 0.6 10.0 Mizuho Financial Group Inc 16 11.1 17,914 2 97-11.1 Gruppo Banca Leonardo SpA 16 6.4 7,299 9 - - 6.4 Sumitomo Mitsui Financial Group Inc 16 11.1 17,914 1 - - 11.1 BDT & Co LLC 17 5.3 6,066 1 - - 5.3 Zaoui & Co LLP 18 8.8 14,244 2 16 14.3-5.5 Credit Agricole Corporate & Investment Bank SA 18 3.6 4,105 4 49-3.6 UBS AG 19 7.3 11,708 8 17 11.2-3.9 Nomura Holdings Inc 19 3.0 3,440 3 27 0.6 2.4 Davy Corporate Finance 20 4.6 7,337 1 - - 4.6 China International Capital Corp Ltd 20 3.0 3,426 1 - - 3.0 TOTAL 161,138 1,678 243,525 TOTAL 113,915 692 61,986 Benelux Announced Deals (Any Involvement) 01/01/2015-12/31/2015 Iberia Announced Deals (Any Involvement) 01/01/2015-12/31/2015 (Mln) COUNT (Mln) COUNT JPMorgan Chase & Co 1 73.4 278,640 29 7 26.2 47.2 UBS AG 1 26.9 22,084 8 8 16.8 10.1 Morgan Stanley 2 69.3 263,022 25 1 49.7 19.6 Lazard Ltd 2 25.5 20,956 12 23 5.2 20.3 Goldman Sachs & Co 3 69.1 262,221 23 4 33.6 35.5 Rothschild Ltd 3 21.8 17,894 11 20 7.6 14.2 Bank of America Merrill Lynch 4 67.8 257,255 16 2 39.5 28.3 HSBC Bank PLC 4 19.5 16,062 5 30 1.0 18.6 Lazard Ltd 5 58.6 222,479 28 3 34.6 24.1 Moelis & Co 5 18.4 15,125 1 52 0.1 18.3 Robey Warshaw LLP 6 52.7 199,790 2 - - 52.7 Deutsche Bank AG 6 18.0 14,814 5 3 34.2-16.2 BNP Paribas SA 7 38.7 146,767 24 9 21.3 17.4 Ernst & Young 7 17.0 13,957 33 12 12.0 5.0 Barclays PLC 8 37.5 142,232 10 12 18.1 19.4 Goldman Sachs & Co 8 14.2 11,648 12 2 46.1-31.9 Deutsche Bank AG 9 36.3 137,689 9 5 32.7 3.6 Credit Suisse Group AG 9 14.0 11,495 1 16 9.3 4.7 Standard Bank of South Africa Ltd/The 10 31.8 120,481 1 - - 31.8 Morgan Stanley 10 13.2 10,837 14 5 24.5-11.4 Rothschild Ltd 11 22.4 85,111 29 18 4.9 17.5 Citigroup Inc 11 12.3 10,131 13 22 5.6 6.8 Credit Suisse Group AG 12 19.1 72,439 12 11 18.8 0.3 Bank of America Merrill Lynch 12 8.0 6,568 13 4 30.6-22.7 Perella Weinberg Partners LP 13 8.6 32,530 1 6 28.8-20.2 KPMG Corporate Finance LLC 13 7.8 6,389 58 18 8.0-0.3 PJT Partners Inc 14 5.9 22,260 5 - - 5.9 RBC Capital Markets 14 6.5 5,381 3 41 0.3 6.3 Guggenheim Capital LLC 15 4.7 17,835 1 - - 4.7 Macquarie Group Ltd 15 5.1 4,202 6 25 3.1 2.0 Citigroup Inc 16 4.2 16,022 8 8 25.0-20.8 Banco Santander SA 16 2.9 2,391 10 6 23.7-20.8 Centerview Partners LLC 17 3.9 14,777 2 20 3.6 0.3 Nomura Holdings Inc 17 2.7 2,194 5 10 15.2-12.5 HSBC Bank PLC 18 2.9 10,820 4 30 0.9 1.9 Societe Generale SA 18 2.5 2,013 7 9 16.3-13.8 Zaoui & Co LLP 19 2.0 7,400 1 - - 2.0 JPMorgan Chase & Co 19 2.2 1,833 4 1 50.3-48.1 ING Groep NV 20 1.3 5,053 36 19 4.8-3.5 BNP Paribas SA 20 2.2 1,808 10 7 17.9-15.7 TOTAL 379,437 1,397 147,186 TOTAL 82,265 742 101,141 (Mln) COUNT 2015 VOLUME USD (Mln) DEAL COUNT 2014 11

Nordic Announced Deals (Any Involvement) 01/01/2015-12/31/2015 Eastern Europe Announced Deals (Any Involvement) 01/01/2015-12/31/2015 Deutsche Bank AG 1 24.1 22,431 9 1 19.6 4.5 JPMorgan Chase & Co 1 20.8 12,507 11 11 3.8 17.1 JPMorgan Chase & Co 2 23.7 22,062 15 2 19.2 4.5 VTB Capital ZAO 2 12.8 7,704 13 14 1.4 11.4 Citigroup Inc 3 22.0 20,497 9 7 12.5 9.5 Morgan Stanley 3 11.1 6,675 7 2 20.2-9.0 Goldman Sachs & Co 4 20.4 19,037 10 4 16.4 4.1 Lazard Ltd 4 10.1 6,039 3 22 0.6 9.5 Morgan Stanley 5 18.1 16,891 9 8 11.5 6.7 Credit Suisse Group AG 5 9.6 5,760 1 12 3.1 6.5 Credit Suisse Group AG 6 17.3 16,095 2 49 0.3 17.0 Citigroup Inc 6 8.5 5,089 16 7 6.7 1.8 Bank of America Merrill Lynch 7 15.9 14,811 8 11 4.2 11.7 Goldman Sachs & Co 7 5.6 3,367 7 3 20.0-14.3 Societe Generale SA 8 12.7 11,857 1 93-12.7 Societe Generale SA 8 4.9 2,955 8 27 0.5 4.4 Zaoui & Co LLP 8 12.7 11,857 1 - - 12.7 BNP Paribas SA 9 4.8 2,899 8 5 7.3-2.5 Credit Agricole Corporate & Investment Bank SA 8 12.7 11,857 2 42 0.5 12.2 Renaissance Capital Holdings Ltd 10 4.8 2,873 2 48-4.8 Rothschild Ltd 11 7.0 6,527 22 6 12.6-5.6 Xenon Capital Partners 11 4.5 2,681 2 - - 4.5 Skandinaviska Enskilda Banken AB 12 6.8 6,317 21 5 13.4-6.6 Barclays PLC 12 3.4 2,049 4 10 4.0-0.5 Lazard Ltd 13 5.3 4,885 14 17 2.5 2.8 Bank of America Merrill Lynch 13 2.9 1,762 6 6 6.8-3.8 Evercore Partners Inc 14 4.9 4,536 6 30 1.0 3.8 Skandinaviska Enskilda Banken AB 14 2.7 1,619 3 - - 2.7 Perella Weinberg Partners LP 15 4.6 4,239 1 - - 4.6 Deutsche Bank AG 15 2.6 1,559 6 1 23.1-20.5 Deloitte Touche Tohmatsu ILA Group Ltd 16 4.5 4,159 8 47 0.4 4.1 PJT Partners Inc 16 2.5 1,525 1 - - 2.5 Danske Bank A/S 17 3.0 2,804 11 39 0.6 2.4 Rothschild Ltd 17 1.8 1,102 11 4 15.8-13.9 ABG Sundal Collier Holding ASA 18 3.0 2,770 3 10 4.6-1.6 Turk Ekonomi Bankasi AS 18 1.1 686 1 - - 1.1 Nordea Bank AB 19 2.5 2,308 19 3 16.7-14.2 UBS AG 19 1.1 680 2 16 1.1 - RBC Capital Markets 20 1.7 1,568 4 31 1.0 0.7 Rabobank 20 1.1 680 1 30 0.5 0.7 TOTAL 93,132 1,706 107,392 TOTAL 60,025 1,093 59,225 Africa/Middle East Announced Deals (Any Involvement) 01/01/2015-12/31/2015 (Mln) COUNT JPMorgan Chase & Co 1 40.8 68,669 15 6 12.5 28.4 Barclays PLC 2 27.9 46,982 11 2 20.5 7.5 Greenhill & Co Inc 3 24.1 40,500 1 51 0.2 23.9 Goldman Sachs & Co 4 16.6 27,974 13 14 6.4 10.3 Morgan Stanley 5 16.5 27,724 19 3 18.1-1.6 Rothschild Ltd 6 11.3 18,958 18 7 11.6-0.3 Deutsche Bank AG 7 10.6 17,785 11 4 13.9-3.3 FirstRand Ltd 8 8.4 14,181 5 15 5.2 3.2 Jefferies LLC 9 7.6 12,821 7 26 1.5 6.2 Bank of America Merrill Lynch 10 7.5 12,648 13 13 6.5 1.0 Citigroup Inc 11 6.2 10,448 17 1 21.0-14.8 UBS AG 12 5.2 8,714 5 8 9.9-4.8 RBC Capital Markets 13 5.2 8,687 2 - - 5.2 HSBC Bank PLC 14 3.9 6,562 14 5 13.3-9.4 Ernst & Young 15 3.7 6,206 18 19 2.4 1.3 Nomura Holdings Inc 16 3.4 5,651 2 42 0.3 3.1 Moelis & Co 17 2.7 4,495 4 17 3.5-0.8 PricewaterhouseCoopers LLP 18 2.2 3,712 15 60 0.1 2.1 Java Capital 19 2.0 3,318 8 38 0.4 1.6 Davy Corporate Finance 20 1.7 2,840 1 - - 1.7 TOTAL 168,144 1,587 (Mln) COUNT 108,607 (Mln) COUNT 12

APAC M&A Regional Review With over 13,700 deals amounting to $1.4 trillion involving parties in the APAC region, APAC deal volumes just surpassed those in EMEA for the first time on record amid regional slowdown. M&A activity in China which accounted for 46.2% of APAC s total deal volume, increased 83.4% from last year to a record high volume of $646.7 billion. The China Tower Corp mega deal largely contributed to the surge in Chinese deal activity in the fourth quarter which increased 67.9% from the previous quarter to $246.2 billion. In 2015, APAC witnessed the largest ever private placement globally when China Overseas Land & Investment Ltd issued new shares worth $10.3 billion to China Overseas Holdings Ltd. Venture capital firm Sequoia Capital retained its position as the top buyer in the APAC region, doubling its involvement to 100 deals from 49 deals last year. Summary Date Target Acquirer Seller Number of deals 11,332 CK Hutchison Holdings 1/9/2015 Hutchison Whampoa Ltd - Volume (Bln.) $1,065.1 Ltd Avg Deal Size (Mln.) $94.0 Top Adviser Goldman Sachs & Co Number of deals 82 Volume (Bln.) $164.9 Avg Deal Size (Bln.) $2.0 APAC M&A: Highlights of 2015 4/20/2015 SK Holdings Co Ltd 10/14/2015 Wireless infrastructure assets/china 11/20/2015 2 airport concessions Consortium Total Value (Mln.) $41,705.3 SK C&C Co Ltd - $26,731.5 China Tower Corp Ltd China Mobile Ltd $18,326.3 New Kansai Intl Airport Co Ltd 5/26/2015 Samsung C&T Corp Cheil Industries Inc - $17,913.9 $10,938.2 $600 $400 $200 $0 $80 $60 $40 $20 $0 $300 $200 $100 APAC M&A: Quarterly Volume Volume (Bln.) Australia/NZ M&A: Quarterly Volume Volume (Bln.) Deal Count Deal Count Greater China M&A: Quarterly Volume 4,000 3,000 2,000 1,000 0 600 400 200 0 2,000 1,500 1,000 500 Global M&A Review 2015 $0 0 APAC Industry Breakdown 5% 6% 7% 8% 5% 3% 10% 14% 26% 16% Financial Industrial APAC M&A: Breakdown Communications Consumer Non-cyclical Consumer Cyclical Energy Diversified Technology Basic Materials Utilities Deal Type Amount (Bln.) % Change Deal Count % YoY Change Company Takeover $542.4 18.4% 76.3% Cross Border $356.1 25.9% 40.2% Private Equity $160.1 59.5% 34.5% Asset Sale $162.9 9.8% 58.3% Tender Offer $26.2 10.5% -48.7% Venture Capital $34.8 129.2% 130.2% Spin-off $22.9 15.8% 39.3% Minority Purchase $187.5 56.5% 52.0% Majority Purchase $130.4 15.2% 43.6% Volume (Bln.) Deal Count Japan M&A: Quarterly Volume $100 800 600 $50 400 200 $0 0 Volume (Bln.) Deal Count Graphs represent any regional involvement (target, seller, or acquirer). 13

APAC Ex-Japan Announced Deals (Any Involvement) 01/01/2015-12/31/2015 APAC Ex-Japan Announced Deals (Target or Seller) 01/01/2015-12/31/2015 Goldman Sachs & Co 1 14.2 171,374 96 1 14.4-0.3 Goldman Sachs & Co 1 14.1 141,838 76 1 14.1 - Morgan Stanley 2 13.4 161,770 92 3 10.5 2.9 Morgan Stanley 2 11.9 119,804 71 2 10.7 1.2 JPMorgan Chase & Co 3 11.6 140,036 72 5 7.9 3.7 China International Capital Corp Ltd 3 9.0 90,753 50 4 8.3 0.7 Credit Suisse Group AG 4 10.4 125,805 54 10 5.9 4.5 Credit Suisse Group AG 4 9.0 90,462 43 12 4.4 4.6 Citigroup Inc 5 10.1 121,703 74 2 10.9-0.8 JPMorgan Chase & Co 5 8.0 80,224 53 10 5.6 2.4 Deutsche Bank AG 6 9.9 119,514 45 7 7.1 2.8 HSBC Bank PLC 6 7.8 78,496 19 25 2.3 5.5 Bank of America Merrill Lynch 7 9.3 113,078 37 4 10.1-0.8 Somerley Group Ltd 7 7.7 76,848 48 9 6.5 1.1 HSBC Bank PLC 8 9.1 109,786 25 26 2.0 7.1 Deutsche Bank AG 8 7.5 74,844 36 8 6.7 0.8 China International Capital Corp Ltd 9 7.6 91,396 53 6 7.2 0.3 CITIC Securities Co Ltd 9 7.0 69,785 57 7 6.9 0.0 UBS AG 10 6.9 83,254 63 9 6.3 0.6 Citigroup Inc 10 6.9 69,042 51 5 7.9-1.0 Somerley Group Ltd 11 6.6 79,963 53 12 5.5 1.1 Macquarie Group Ltd 11 5.9 59,383 43 11 5.4 0.5 Macquarie Group Ltd 12 6.0 72,412 57 11 5.6 0.4 Bank of America Merrill Lynch 12 5.8 58,470 27 3 9.5-3.6 CITIC Securities Co Ltd 13 5.8 70,058 58 8 6.7-1.0 UBS AG 13 4.8 48,174 48 6 7.1-2.3 Barclays PLC 14 4.1 49,175 24 21 2.7 1.4 Huatai Securities Co Ltd 14 4.2 42,647 40 27 2.1 2.2 PricewaterhouseCoopers LLP 15 3.8 45,611 107 17 3.0 0.8 Anglo Chinese Corporate Finance 15 4.2 41,776 4 54 0.4 3.8 Anglo Chinese Corporate Finance 16 3.6 43,191 5 62 0.3 3.2 PricewaterhouseCoopers LLP 16 3.6 35,639 93 15 3.4 0.1 Huatai Securities Co Ltd 17 3.6 43,086 43 29 1.8 1.8 NH Investment & Securities Co Ltd 17 2.9 29,306 8 136 0.1 2.9 Evercore Partners Inc 18 3.0 36,359 15 38 1.1 1.9 China Securities Co Ltd 18 2.7 26,613 36 13 3.5-0.8 Moelis & Co 19 2.9 35,463 16 53 0.5 2.5 JM Financial Ltd 19 2.5 24,717 12 44 0.7 1.8 Rothschild Ltd 20 2.5 30,012 45 15 3.7-1.2 Grant Samuel Securities Pty Ltd 20 2.4 23,744 9 19 2.9-0.5 TOTAL 1,211,279 11,502 763,398 TOTAL 1,004,676 9,785 APAC Private Equity (Any Involvement) 01/01/2015-12/31/2015 Morgan Stanley 1 19.7 47,855 33 2 19.3 0.4 JPMorgan Chase & Co 2 18.6 45,034 23 4 16.8 1.8 Citigroup Inc 3 16.8 40,632 27 3 18.0-1.2 Bank of America Merrill Lynch 4 13.9 33,702 15 6 15.8-1.9 Goldman Sachs & Co 5 12.9 31,183 33 1 27.8-14.9 Deutsche Bank AG 6 11.5 28,007 16 5 16.6-5.1 Credit Suisse Group AG 7 11.5 27,890 12 13 7.1 4.4 UBS AG 8 10.9 26,379 14 9 10.5 0.4 Macquarie Group Ltd 9 10.0 24,188 18 15 5.2 4.8 Moelis & Co 10 7.5 18,257 7 42 0.5 7.1 RBC Capital Markets 11 5.8 14,061 3 16 4.6 1.2 China International Capital Corp Ltd 12 5.3 12,963 6 7 14.3-8.9 PricewaterhouseCoopers LLP 13 5.1 12,369 15 28 1.0 4.1 HSBC Bank PLC 14 4.8 11,581 6 23 3.3 1.5 Rothschild Ltd 15 4.8 11,517 16 18 4.2 0.6 Gresham Partners Ltd 16 4.6 11,196 4 53 0.2 4.4 CITIC Securities Co Ltd 17 4.2 10,268 2 10 9.9-5.7 Huatai Securities Co Ltd 18 4.1 9,958 1 20 3.6 0.5 Grant Samuel Securities Pty Ltd 19 3.7 9,044 1 22 3.5 0.2 Barclays PLC 20 3.5 8,366 12 8 10.6-7.2 TOTAL 242,614 2,346 (Mln) COUNT (Mln) COUNT 176,727 2015 VOLUME USD (Mln) DEAL COUNT 2014 636,786 14

AU & NZ Announced Deals (Any Involvement) 01/01/2015-12/31/2015 Japan Announced Deals (Any Involvement) 01/01/2015-12/31/2015 Macquarie Group Ltd 1 33.2 48,289 47 2 26.8 6.4 Morgan Stanley 1 38.4 71,703 53 1 36.7 1.7 UBS AG 2 23.3 33,985 32 5 13.0 10.3 Nomura Holdings Inc 2 37.0 69,122 121 4 16.7 20.3 Deutsche Bank AG 3 21.4 31,149 16 8 9.8 11.6 Goldman Sachs & Co 3 26.8 50,075 18 5 13.0 13.8 Bank of America Merrill Lynch 4 20.6 30,002 11 9 9.7 10.9 Mizuho Financial Group Inc 4 26.6 49,654 104 8 5.5 21.1 JPMorgan Chase & Co 5 19.5 28,397 12 6 11.2 8.3 Sumitomo Mitsui Financial Group Inc 5 21.4 40,066 132 7 11.5 9.9 Credit Suisse Group AG 6 18.8 27,318 14 7 11.2 7.6 Bank of America Merrill Lynch 6 21.4 39,955 18 17 1.8 19.6 Goldman Sachs & Co 7 16.9 24,561 32 1 39.2-22.3 Citigroup Inc 7 21.2 39,613 22 10 4.6 16.6 Grant Samuel Securities Pty Ltd 8 16.3 23,744 9 4 13.5 2.8 JPMorgan Chase & Co 8 16.1 30,009 18 6 11.8 4.2 Citigroup Inc 9 13.5 19,614 14 3 15.8-2.3 Rothschild Ltd 9 14.8 27,641 12 16 1.8 13.0 Gresham Partners Ltd 10 12.2 17,777 11 12 8.4 3.9 Lazard Ltd 10 9.5 17,693 14 28 0.6 8.9 Moelis & Co 11 9.8 14,221 10 29 0.6 9.1 Evercore Partners Inc 11 8.0 14,882 8 23 1.0 7.0 Morgan Stanley 12 9.2 13,350 15 10 9.4-0.2 CITIC Securities Co Ltd 12 5.8 10,758 5 - - 5.8 RBC Capital Markets 13 7.8 11,380 6 25 1.3 6.6 Somerley Group Ltd 13 5.5 10,356 2 - - 5.5 CIBC 14 6.0 8,680 2 - - 6.0 Credit Suisse Group AG 14 5.4 10,028 8 2 18.6-13.3 Lazard Ltd 15 5.2 7,597 4 11 9.1-3.9 Daiwa Securities Group Inc 15 5.0 9,370 57 9 5.4-0.4 Barclays PLC 16 5.2 7,582 4 17 4.2 1.0 Deutsche Bank AG 16 3.8 7,048 5 18 1.7 2.1 BMO Capital Markets Corp/Toronto 17 4.7 6,900 1 14 5.6-0.9 Gresham Partners Ltd 17 3.4 6,271 1 - - 3.4 INFOR Financial Group Inc 17 4.7 6,900 1 - - 4.7 Grant Samuel Securities Pty Ltd 17 3.4 6,271 1 - - 3.4 Mizuho Financial Group Inc 19 4.3 6,271 2 - - 4.3 Deloitte Touche Tohmatsu ILA Group Ltd 19 2.5 4,710 49 25 0.9 1.6 Centerview Partners LLC 20 2.9 4,200 1 40 0.2 2.7 KPMG Corporate Finance LLC 20 2.0 3,660 42 11 4.3-2.3 TOTAL 145,594 1,839 135,055 TOTAL 186,900 2,761 107,409 South Korea Announced Deals (Any Involvement) 01/01/2015-12/31/2015 China Announced Deals (Any Involvement) 01/01/2015-12/31/2015 (Mln) COUNT (Mln) COUNT Morgan Stanley 1 34.9 41,688 8 3 9.6 25.3 China International Capital Corp Ltd 1 14.1 91,396 53 1 15.6-1.5 Goldman Sachs & Co 2 34.4 41,139 8 13 2.3 32.1 Morgan Stanley 2 11.2 72,630 44 3 14.4-3.2 Credit Suisse Group AG 3 33.1 39,527 6 11 3.5 29.6 CITIC Securities Co Ltd 3 10.8 70,058 58 2 14.6-3.8 PricewaterhouseCoopers LLP 4 31.2 37,292 42 6 7.2 24.0 JPMorgan Chase & Co 4 7.7 50,042 26 11 5.4 2.3 Citigroup Inc 5 30.2 36,129 6 2 12.2 18.0 Goldman Sachs & Co 5 7.1 45,699 32 5 11.7-4.6 Deutsche Bank AG 6 28.1 33,594 5 5 7.6 20.5 Huatai Securities Co Ltd 6 6.7 43,086 43 17 3.9 2.8 NH Investment & Securities Co Ltd 7 24.5 29,306 8 22 0.4 24.2 Somerley Group Ltd 7 5.4 34,660 29 6 10.3-5.0 Samsung Securities Co Ltd 8 12.6 15,011 12 1 16.2-3.7 Bank of America Merrill Lynch 8 4.8 31,180 13 4 13.0-8.2 HSBC Bank PLC 9 5.1 6,120 1 - - 5.1 China Securities Co Ltd 9 4.1 26,746 37 10 6.3-2.2 Barclays PLC 9 5.1 6,120 1 - - 5.1 HSBC Bank PLC 10 4.0 25,585 10 32 0.9 3.1 Ernst & Young 11 2.9 3,435 18 16 1.3 1.6 UBS AG 11 3.7 23,842 23 8 6.9-3.3 JPMorgan Chase & Co 12 2.6 3,045 7 10 4.0-1.4 Credit Suisse Group AG 12 3.5 22,301 17 15 4.4-0.9 KPMG Corporate Finance LLC 13 1.9 2,250 14 4 8.0-6.2 Haitong Securities Co Ltd 13 3.2 20,944 22 9 6.4-3.2 Hana Financial Group Inc 14 1.9 2,213 6 28 0.1 1.8 Guotai Junan Securities Co Ltd 14 3.2 20,448 37 13 4.9-1.7 CBRE Capital Advisors Inc 15 1.0 1,200 1 - - 1.0 Southwest Securities Co Ltd 15 3.0 19,405 39 21 2.5 0.5 Mitsubishi UFJ Financial Group Inc 16 0.8 1,000 1 - - 0.8 Rothschild Ltd 16 2.9 18,455 14 25 1.6 1.3 Daewoo Securities Co Ltd 17 0.7 809 3 12 2.8-2.2 Deutsche Bank AG 17 2.7 17,566 16 7 9.6-6.8 Standard Chartered Bank 18 0.6 756 2 20 0.5 0.1 GF Securities Co Ltd 18 2.7 17,407 32 30 1.1 1.6 Bank of America Merrill Lynch 19 0.6 755 1 14 2.3-1.6 Bank of China Ltd 19 2.5 16,007 11 65 0.2 2.3 Nomura Holdings Inc 20 0.5 617 6 19 0.6-0.1 Citigroup Inc 20 2.0 13,003 28 12 5.2-3.2 TOTAL 119,576 1,388 91,997 TOTAL 646,700 4,069 352,612 (Mln) COUNT (Mln) COUNT 15

Hong Kong Announced Deals (Any Involvement) 01/01/2015-12/31/2015 Taiwan Announced Deals (Any Involvement) 01/01/2015-12/31/2015 (Mln) COUNT HSBC Bank PLC 1 36.8 74,591 10 10 7.0 29.8 Morgan Stanley 1 21.7 6,210 7 1 21.4 0.2 Goldman Sachs & Co 2 33.7 68,311 18 1 36.2-2.4 Citigroup Inc 2 12.7 3,634 4 3 12.8-0.2 Somerley Group Ltd 3 23.9 48,495 39 12 6.5 17.5 KGI Securities Co Ltd 3 9.8 2,807 15 4 10.1-0.3 Anglo Chinese Corporate Finance 4 21.3 43,191 5 67 0.1 21.2 PricewaterhouseCoopers LLP 4 8.8 2,524 10 5 7.8 1.0 Morgan Stanley 5 16.8 34,050 17 8 13.2 3.6 Credit Suisse Group AG 5 6.5 1,852 3 13 2.9 3.5 Moelis & Co 6 9.6 19,425 3 78 0.1 9.5 JPMorgan Chase & Co 6 6.2 1,784 4 - - 6.2 UBS AG 7 9.5 19,152 7 16 4.5 5.0 CBRE Capital Advisors Inc 7 3.2 903 1 - - 3.2 JPMorgan Chase & Co 8 7.5 15,106 11 6 14.9-7.4 CITIC Securities Co Ltd 8 2.8 803 2 - - 2.8 CITIC Securities Co Ltd 9 6.3 12,651 10 5 19.2-12.9 Yuanta Securities Co Ltd 9 2.3 648 4 7 7.1-4.9 Huatai Securities Co Ltd 10 5.3 10,631 6 - - 5.3 Goldman Sachs & Co 10 2.2 640 3 8 5.7-3.5 Bank of China Ltd 11 4.7 9,417 2 24 1.2 3.4 Stifel Financial Corp 11 1.8 512 1 20 0.6 1.2 Bank of America Merrill Lynch 12 4.1 8,325 4 2 30.2-26.1 Somerley Group Ltd 12 1.5 438 2 26 0.1 1.4 Deutsche Bank AG 13 2.9 5,908 6 3 25.9-23.0 Rothschild Ltd 13 1.4 411 1 29-1.4 China International Capital Corp Ltd 14 2.8 5,588 8 7 14.8-12.0 HSBC Bank PLC 14 1.3 361 1 - - 1.3 Citigroup Inc 15 2.5 5,139 7 4 21.7-19.2 KPMG Corporate Finance LLC 15 0.8 217 6 6 7.3-6.5 Rothschild Ltd 16 2.1 4,199 4 22 1.9 0.2 Lazard Ltd 16 0.4 100 1 - - 0.4 Platinum Securities Co Ltd 17 2.0 4,087 5 38 0.4 1.6 Optima Capital Ltd 17 0.3 77 1 - - 0.3 RBC Capital Markets 18 1.9 3,788 1 43 0.4 1.5 Asia Capital PLC/Sri Lanka 17 0.3 77 1 - - 0.3 Macquarie Group Ltd 18 1.9 3,788 1 56 0.2 1.7 CTBC Financial Holding Co Ltd 19 0.1 31 1 23 0.4-0.3 Guotai Junan Securities Co Ltd 20 1.8 3,538 4 26 1.1 0.7 Kingston Financial Group Ltd 20 0.1 18 2 - - 0.1 TOTAL 202,563 1,532 127,829 TOTAL 28,651 268 12,490 Southeast Asia Announced Deals (Any Involvement) 01/01/2015-12/31/2015 India Announced Deals (Any Involvement) 01/01/2015-12/31/2015 (Mln) COUNT JPMorgan Chase & Co 1 35.2 63,027 20 2 15.7 19.5 JM Financial Ltd 1 37.6 24,717 12 5 10.1 27.5 Bank of America Merrill Lynch 2 34.1 61,008 11 6 12.2 21.9 Axis Bank Ltd 2 30.3 19,881 8 13 6.3 23.9 Citigroup Inc 3 26.2 46,826 11 1 21.7 4.4 Macquarie Group Ltd 3 29.1 19,097 2 12 7.0 22.1 Deutsche Bank AG 4 23.6 42,149 6 8 9.2 14.4 Citigroup Inc 4 11.8 7,718 12 1 19.7-8.0 Credit Suisse Group AG 5 22.8 40,723 17 3 13.6 9.1 Bank of America Merrill Lynch 5 6.9 4,542 3 3 15.4-8.4 Barclays PLC 6 21.4 38,297 11 12 6.0 15.4 Morgan Stanley 6 6.6 4,312 9 25 2.3 4.2 Evercore Partners Inc 7 18.1 32,355 10 45 0.5 17.6 Credit Suisse Group AG 7 6.4 4,205 6 31 1.2 5.2 Morgan Stanley 8 13.6 24,388 13 13 5.9 7.8 JPMorgan Chase & Co 8 5.6 3,681 8 21 3.1 2.5 HSBC Bank PLC 9 11.0 19,691 12 19 4.2 6.8 Kotak Mahindra Bank Ltd 9 4.9 3,196 11 10 8.2-3.3 Nomura Holdings Inc 10 7.2 12,921 12 18 4.6 2.6 Ernst & Young 10 4.5 2,975 38 9 9.1-4.5 Somerley Group Ltd 11 6.0 10,717 3 22 3.2 2.8 Walker Chandiok & Co 11 3.8 2,524 2 - - 3.8 Mizuho Financial Group Inc 12 5.8 10,356 5 66 0.1 5.7 Lazard Ltd 12 3.6 2,374 5 64-3.6 CITIC Securities Co Ltd 12 5.8 10,356 2 65 0.1 5.7 Standard Chartered Bank 13 3.5 2,270 5 17 3.9-0.4 UBS AG 14 5.6 9,956 7 25 2.3 3.3 Tudor Pickering Holt & Co 14 3.3 2,150 1 - - 3.3 Rothschild Ltd 15 4.1 7,344 10 9 7.1-3.0 Goldman Sachs & Co 15 3.3 2,141 12 6 9.7-6.4 China International Capital Corp Ltd 16 4.0 7,096 2 26 1.7 2.3 Evercore Partners Inc 16 3.2 2,086 1 6 9.7-6.5 PricewaterhouseCoopers LLP 17 3.8 6,705 17 56 0.2 3.5 KPMG Corporate Finance LLC 17 3.1 2,019 28 27 2.0 1.1 Goldman Sachs & Co 18 3.7 6,646 10 5 12.2-8.5 Arpwood Capital Pvt Ltd 18 2.9 1,903 2 - - 2.9 DBS Group Holdings Ltd 19 3.1 5,453 12 4 12.7-9.6 Deutsche Bank AG 19 2.4 1,558 3 24 2.8-0.4 BNP Paribas SA 20 2.8 5,017 1 41 0.6 2.3 Jefferies LLC 20 1.5 1,001 5 18 3.7-2.1 TOTAL 178,978 2,154 156,034 TOTAL 65,706 1,722 42,613 (Mln) COUNT (Mln) COUNT 16