PRAISE FOR SIDLEY S INTERNATIONAL ARBITRATION PRACTICE

PRAISE FOR SIDLEY S INTERNATIONAL ARBITRATION PRACTICE GLOBAL ARBITRATION REVIEW Global Arbitration Review has once again included Sidley in its GAR 100, the publisher s selection of the leading international arbitration practices. The following partners received special mention: Stanimir Alexandrov, Marc Palay and Louis B. Kimmelman, the group s global leaders, as well as David Roney and Dana MacGrath. One source comments: Cross examination at hearing was particularly accomplished, and stood in marked contrast to what opposing counsel was able to do. Another client praises the firm s professionalism, effectiveness and commitment. In addition, one client says he would recommend Stanimir Alexandrov for his deep knowledge in the field of international investment arbitration, and clear, concise manner of advocacy. Global Arbitration Review 100 (8th edition, 2015) U.S.NEWS - BEST LAWYERS BEST LAW FIRMS For the fifth straight year, and each year since the survey s inception, Sidley received the most first-tier national rankings, earning 45 in the 2015 U.S.News Best Lawyers Best Law Firms survey, including in the International Arbitration Commercial and International Arbitration Governmental sections. Clients comment: I am really satisfied with Sidley Austin s speedy responses and good robust advice. I especially love their strategic approach before proceeding ; Sidley s arbitration practice group is clearly part of the elite arbitration circle that handles the most sophisticated matters. Sidley s lawyers distinguish themselves from others in terms of professional contacts, experience and rigor ; The overall level of service from Sidley is excellent. Their response times are normally within hours, industry knowledge is top level, and there is sufficient depth to allow timely continuity in services during the absence of one or more lawyers. Their knowledge in this area of our requirement, bilateral investment treaty law, is extensive. U.S.News Best Lawyers Best Law Firms Survey 2015 Stanimir Alexandrov is recognized in both the International Arbitration Commercial and International Arbitration Governmental sections in the 2013 edition of The Best Lawyers in America. He is praised by clients as follows: We have received outstanding advice on one of the longest procedures ever in front of ICSID. I would highly recommend him ; Mr. Stanimir Alexandrov is the leading expert with regard to international arbitration cases. He is very professional, very knowledgeable, understands the key issues very rapidly, is patient, and overall a very pleasant person to work with I also recognize the entire team working with [him] ; [He] is highly experienced, frank, and open. He is easy to communicate with and is timely in responding. I have a good and sincere relationship with him ; Stanimir is very practical and possesses an excellent understanding of global issues. He understands how different governments and government officials think and react, and represents clients aggressively yet civilly. His advice has always been spot on. Marinn Carlson and James Mendenhall are also recognized in these two sections. The Best Lawyers in America 2013 1

LATINVEX Sidley was listed among the Top 15 Arbitration Firms for 2014 by Latinvex, a publication that focuses on business in Latin America. Latinvex 2014 LATIN LAWYER 250 Sidley was listed as a Recommended Law Firm in the 2015 edition of Latin Lawyer 250. Stanimir Alexandrov is the key name in a busy arbitration practice Jennifer Haworth McCandless and Marinn Carlson, also based in Washington, D.C., are growing in prominence The firm has added strength in New York, having hired Benno Kimmelman in 2013. He enjoys a good reputation in Latin America Latin Lawyer 250, 2015 WHO S WHO LEGAL: ARBITRATION The 2015 edition of Who s Who Legal: Arbitration has recognized three Sidley lawyers: Stanimir Alexandrov, Louis Benno Kimmelman and David Roney. The Who s Who Legal 2015 BENCHMARK LITIGATION Marinn Carlson was named one of Benchmark Top 250 Women in Litigation. Benchmark Litigation, 2015 CHAMBERS AND PARTNERS GLOBAL Well known investment arbitration practice with additional expertise in a range of manufacturing, construction, insurance and contractual disputes. Strong presence in North and South America and also highly regarded for its activity in the CIS region. [Sources comment:] These lawyers have a very good grasp of investment law and how international arbitration works. They have a global overview and know exactly how to focus the defense strategy. They go into a lot of areas of constitutional and procedural law from different jurisdictions with great rigor. We were particularly impressed by their strategic handling of complex matters Washington, D.C.-based Stanimir Alexandrov is renowned by peers for his elegant and diplomatic style. Clients praise his in-depth knowledge and extensive experience of investor-state arbitration. Louis B. Kimmelman is also recommended. Chambers Global 2015 Global, Arbitration (International) 2

[A] U.S.-based practice best known for its pre-eminent investment treaty offering and increasing prominence in commercial arbitrations [which has] secured a strong foothold in the Russian and CIS market Sidley is recognized as one of the firms with the most experience and greatest reputation in investor-state disputes Stanimir Alexandrov receives high praise for his investment treaty practice: [He] is one of the greatest lawyers in investor-state disputes, a great strategist and an excellent advocate In New York, Louis Kimmelman is widely recognized for his expertise in investor-state disputes. Sources note his in-depth understanding of cases involving sovereign states. Chambers Global 2014 Global, Arbitration (International) This firm has traditionally earned recognition for its strength in investor-state arbitration, and has diversified to excel in commercial disputes as well. It is home to a team of over 50 dedicated arbitration specialists spread across its offices in Washington, D.C., London, Geneva, Singapore and Hong Kong... Sources say: Their legal analysis is sound, they know everybody in the field, have strong expertise and are creative in their arguments. They leave no stone unturned, and we get top quality work. Stanimir Alexandrov co-heads the firm s international arbitration practice with Marc Palay. He is extremely well regarded for both commercial and investment treaty arbitrations and is increasingly sought after as an arbitrator for international disputes. Louis Kimmelman s reputation continues to grow in the USA, and he has developed a fine reputation for his work in South America. Chambers Global 2013 Global, Arbitration (International) LATIN AMERICA Clients highlight Stanimir Alexandrov s attentiveness and willingness to accommodate their concerns. His strategic view is also praised. He knows when to press and when not to. Louis Benno Kimmelman has experience in commercial and investment treaty arbitrations, particularly with regard to construction and energy disputes. Marinn Carlson is singled out as a Recognized Practitioner. Chambers Latin America 2015 Latin America-wide, International Arbitration [Sources comment:] These lawyers have a very good grasp of investment law and how international arbitration works. They have a global overview and know exactly how to focus the defense strategy. They go into a lot of areas of constitutional and procedural law from different jurisdictions with great rigor. Sidley was extremely well prepared and provided measured, credible and convincing representation for the company. Clients highlight Stanimir Alexandrov s attentiveness and willingness to accommodate their concerns. His strategic view is also praised: He knows when to press and when not to. Louis B. Kimmelman is also recommended and Marinn Carlson is ranked as a Noted Practitioner. Chambers Latin America 2014 Latin America-wide, International Arbitration Sources say: The team s distinguishing features are its technical knowledge and ability to work with the client to formulate a defense strategy. Practice co-chair Stanimir Alexandrov is widely respected by his peers. He is an excellent lawyer, remarked interviewees, adding: He has the right approach and is extremely smart. Other sources pinpoint his keen sense of strategy, as well as his fluency in Spanish... Louis B. Kimmelman has extensive experience assisting clients with international arbitration proceedings and represents a number of significant clients in the region. Chambers Latin America 2013 Latin America-wide, International Arbitration 3

This practice has expanded its Latin American footprint in recent years and now has a number of sovereign mandates Sources [comment]: Experienced, well-trained staff with exceptional Spanish language skills and a comprehensive knowledge of investment disputes law Stanimir Alexandrov is hailed by sources as an extremely intelligent, analytical lawyer and an excellent strategist. He also wins praise from clients for his Spanish language skills Louis B. Kimmelman. is a professional, responsive and very organized counsel, according to sources. Chambers Global 2013 - Latin America-wide, International Arbitration This firm is a key player in investor-state arbitration, and has built up a strong practice in such work in Latin America. The team has been involved in a raft of ICSID cases, which has contributed to the development of the practice. Sources say: The team provides a great range of strategic services in this field; it offers the whole package ; The firm has vast experience in investment arbitration. Stanimir Alexandrov is highly regarded for his work in the emerging markets and is an incredible resource, according to clients. Chambers Global 2011 - Latin America-wide, International Arbitration ASIA Allen Kim. maintains a solid dispute resolution practice, and regularly represents Korean clients on litigation and arbitration in the USA. Chambers Global 2015 South Korea Dispute Resolution: International Firms The very sensible Charles Allen handles significant commercial arbitrations and related enforcement claims. Chambers Global 2014 China Dispute Resolution: Arbitration Sources say Charles Allen is very well schooled in the goings-on of arbitration in Asia. Peers respect him as a veteran practitioner, a careful individual who knows his stuff. His arbitration practice is driven by a solid commercial disputes component. Allen Kim wins plaudits for his high-quality practice. One client remarked: He is calm and has a clear mind, which makes you feel at ease. He can develop an effective strategy, anticipating things right from the beginning, and at the same time thinks on his feet. He specializes in complex joint venture and M&A disputes, as well as technology transfer matters[, and] continues to have a strong South Korea focus. Chambers Global 2013 China Dispute Resolution: Arbitration USA Stanimir Alexandrov is rated highly by sources as an arbitrator, where he is very fair, very even-handed and very invested in the case. His skills as an advocate are also highly praised, with one commentator describing him as a master strategist and a great speaker; one of the best investment lawyers in the field. Louis B. Kimmelman[ s] tenacity is highly praised by peers, who described him as a a great strategist, with excellent execution and significant cross-examination skills. Los Angeles-based Allen Kim is noted for his commercial litigation and arbitration practice. Chambers USA 2015 Nationwide, International Arbitration 4

[A] formidable bench of arbitration specialists, capable of handling commercial and investor-state disputes across a broad spectrum of industries. Also highlighted for [the team s] impressive international capabilities. [Sources comment:] They are excellent, just absolutely superb I can t say enough good things about them! Stanimir Alexandrov is rated by sources as an arbitrator, where he is very fair, very even-handed and very invested in the case. His skills as an advocate are also highly praised, with one commentator describing him as a master strategist and a great speaker; one of the best investment lawyers in the field. Louis Kimmelman[ s] tenacity is highly praised by peers, who describe him as a great strategist, with excellent execution and significant cross-examination skills. Chambers USA 2014 Nationwide, International Arbitration Stanimir Alexandrov has an excellent reputation for his impressive investment treaty expertise. He represents both investors and states, and also handles complex commercial arbitrations. He is recognized as having tremendous experience and unique insights specific to international arbitration that have proven invaluable. Louis Kimmelman recently joined the team [He] is an outstanding advocate who is respected by market sources for his extensive experience across the board in international arbitration. He is described as a really practical attorney whose strategic approach is particularly appreciated by clients. Dmitry Dementyev joined Sidley Austin s Brussels team in early 2013. He is U.S.-qualified and has valued experience of international arbitration proceedings with U.S. elements. Allen Kim is based in the firm s Los Angeles office, but also spends a significant amount of time handling work for Hong Kong. He regularly acts for clients in a wide range of high-value disputes, and is experienced in both litigation and arbitration. His expertise in acting for Korean clients is particularly flagged up. Chambers Global 2014 USA, International Arbitration The heart of Sidley Austin s U.S.-based international arbitration practice rests in Washington, D.C., but it draws strength from an impressive network of offices across the globe Sources say: They are experts in the field. They understand the process, the issues, the players and how to win. Stanimir Alexandrov has an excellent reputation for his impressive investment treaty expertise. He represents both investors and states, and also handles complex commercial arbitrations. He is recognized as having tremendous experience and unique insights specific to international arbitration that have proven invaluable. Louis Kimmelman is an absolute allstar, who is noted for his extraordinarily strong analytical mind Dana MacGrath is noted for her experience in commercial arbitration and wins acclaim for her work serving a range of clients in complex disputes. Sources attest to her expertise and credit her as being extremely hard-working and very smart. Chambers USA 2013 Nationwide, International Arbitration Sidley Austin remains a distinguished player in the international arbitration arena, and offers focused strength in its U.S., European and Asian offices. The group plays a central role acting as counsel and arbitrator in a wide range of arbitrations, whilst being particularly commended for its highly acclaimed investment treaty expertise. It can draw on extensive experience representing both investors and states, while also offering a strong command of commercial arbitrations Stanimir Alexandrov is considered to be extremely talented as both arbitrator and advocate and is characterized as first-rate mind and individual who is absolutely committed to the practice. He co-chairs the firm s international arbitration practice, and is highly regarded as an expert in investment treaty cases while also bringing experience in commercial arbitration. Chambers USA 2012 Nationwide, International Arbitration 5

EUROPE Marc Palay is an accomplished adviser in the area, with notable experience in international commercial arbitration matters as well as cross-border litigation. David Roney is focused on international arbitration, particularly investment and commercial disputes. Sources agree: He has a quiet expertise that means he is immediately credible. Chambers Global 2015 Switzerland, Dispute Resolution Marc Palay is deft, subtle and sensitive to cultural issues, report impressed sources. [He] is also praised for his experience, in-depth preparation and sophisticated arbitration style. Seasoned lawyer David Roney is considered to be a solid choice for a variety of international arbitrations. Chambers Global 2014 Switzerland, Dispute Resolution Sources recommend David Roney as arbitration counsel: He s straight to the point in discussions and always follows up quickly. His skill in cross-examination is also singled out for praise. Interviewees say Marc Palay doesn't miss any tricks thanks to his rigorous approach: He gets into all the technical aspects of an industry so that he really understands the mindset, then deals with the claim. Clients also note his ability to drive the team and his no-nonsense style. He co-heads the firm s international arbitration practice. Chambers Global 2013 - Switzerland, Dispute Resolution THE LEGAL 500 The focus at Sidley Austin LLP is on complex international commercial arbitration. Practice co-chair Marc Palay has the qualities needed to organize and manage a legal team : understanding, in-depth industry and professional knowledge, and the ability to ensure cost control. The Legal 500 Switzerland 2014, Dispute Resolution Sidley Austin LLP s responsive and flexible lawyers are fast in providing answers to questions or requests, and are not afraid of hard work. The team has an extensive practice including high-level international arbitration matters. Meticulous team head Marc Palay has an intensive approach, and great knowledge of the industry, and clients feel they could not be in better hands. David Roney is a truly excellent lawyer. The Legal 500 Switzerland 2012, Dispute Resolution Sidley Austin LLP is praised for its perfect knowledge and experience in international investment disputes and energy charter treaty issues. The practice has partners in offices throughout the U.S. and is jointly headed by New York-based Louis Kimmelman and the excellent Stanimir Alexandrov in Washington D.C., who is an authority for investment disputes and must surely be terrifying to the other side. Other key partners in the capital include the outstanding Jennifer Haworth McCandless who never tires of responding to questions, and Marinn Carlson who demonstrates an excellent ability to plan, execute and negotiate the various aspects of international commercial disputes, particularly those involving discrimination and expropriation by foreign states. The smart, dependable, accessible and amicable team is willing to lend assistance above and beyond the call of duty, and makes interaction comfortable and puts the client at ease. The Legal 500 United States 2015, Litigation International Arbitration 6

Sidley Austin LLP s exceptional reputation is well deserved, with partner-level expertise in Washington D.C., New York and Los Angeles. The superb and extremely qualified practice grew its commercial arbitration capability in New York with the hire of world-class arbitration attorney and sharp strategist Louis Kimmelman and intelligent, capable and hard-working counsel Dana MacGrath they brought with them a string of clients and both rank with the highest. Traditionally the team has mainly acted for investors, but it has broadened its client base and now works for a balanced mix of corporates and governments in both commercial and investment treaty arbitrations. The very knowledgeable Stanimir Alexandrov is the head of the firm s global practice and predominantly takes the lead in investment arbitrations out of Washington. alongside Jennifer Haworth McCandless and the very organized and responsive Marinn Carlson Allen Kim relocated to Los Angeles from the firm s Hong Kong office, and thrives in highly complicated and challenging cases. Newly promoted partner James Mendenhall has a wealth of experience in bilateral treaty negotiations. The Legal 500 United States 2014, Litigation International Arbitration With top-level industry knowledge and excellent service, Sidley Austin LLP has extensive capabilities of both investor-state and international commercial arbitration at an array of arbitral institutions. Coupling his deep knowledge and experience in the area of bilateral investment treaty litigation with his particular understanding of state-owned organizations in developing countries, the prompt and efficient Stanimir Alexandrov acts as if the clients concerns were his own. Also an experienced arbitrator, he is supported by a capable team that includes the noteworthy Jennifer Haworth McCandless and Marinn Carlson, both of whom demonstrate in depth knowledge of the subject law. With a further two arbitration-dedicated partners (plus one counsel) in the Washington, D.C. office, along with international commercial arbitration team members in the Chicago, Los Angeles, New York and Palo Alto offices, the team has sufficient depth to ensure timely continuity in the handling of matters. It s a very good outfit with very good lawyers they are brilliant comment clients Louis Kimmelman is a superb trial counsel for international arbitrations. A great strategist with a creativity borne of experience, he views arbitral cases in their greater global context, which is as important as the result itself when one is looking at a business moving forward. Moreover, he has continued building and forming his team over the last ten years so that his more junior colleagues have developed into independent practitioners. With a broad practice across a number of international market, impressive senior Dana MacGrath is totally meticulous and has a clarity in her writing that is enviable. The Legal 500 United States 2013, Litigation International Arbitration Sidley Austin LLP is considered one of the best, with proven expertise in investor-state work. With a strong reputation in international trade matters, the firm represents both multinational companies and governments in all major arbitral institutions, with added experience in ad hoc proceedings under UNCITRAL and ICSID Addition Facility rules The team is praised for its excellent service, Stanimir Alexandrov is superb : an outstanding speaker and a superb strategist. Jennifer Haworth McCandless and Marinn Carlson are also recommended. The Legal 500 United States 2012, Litigation International Arbitration Sidley Austin LLP is simply one of the best and worth every penny it charges. Clients single out Marinn Carlson as being first-class. Stanimir Alexandrov is ranked as a leading lawyer, and Martin Jackson, Louis Kimmelman, Dana MacGrath, Jennifer Haworth McCandless, and Matthew Shankland are all ranked. The Legal 500 2014 Latin America International Arbitration 7

With a 50-strong international arbitration practice spread across a dozen offices, Sidley Austin LLP demonstrates great experience in the sector. Clients appreciate that the team designs strategy with anticipation so as to leave time to search out the documents and witnesses required. Co-head of the firm s international arbitration (Commercial & Treaty) practice Stanimir Alexandrov is an excellent lawyer who has considerable arbitration experience. With a global vision of issues, he highlights the key points of a problem and the best ways to face it... Also Washington, D.C.-based Jennifer Haworth McCandless is a diligent attorney who looks to cover all the aspects of a problem and asks the appropriate critical questions to do so. Marinn Carlson is also noted for her increased engagement in the region, particularly with regard to trade-related disputes and WTO issues. The Legal 500 2012 Latin America International Arbitration 2012 For Sidley Austin, arbitration is a key pillar of the dispute resolution practice. Allen Kim is [a] recognized arbitration specialist, particularly in disputes involving Korean parties, while Charles Allen is also a regular in arbitral proceedings. The Legal 500 Asia Pacific 2012, Hong Kong Dispute Resolution International Arbitration 8