FINANCIAL RANKINGS 1St 3Q 2018 1St 3Q2018

GLOBAL M&A MARKET REVIEW FINANCIAL RANKINGS 1st 3Q 2018 1st 3Q2018

GLOBAL M&A FINANCIAL ADVISORY RANKINGS

The Bloomberg M&A Advisory League Tables are the definitive publication of M&A advisory rankings. The CONTENTS 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-equity- 1. Introduction swaps, joint ventures, private placements of common equity and convertible securities, and the cash 2. Global M&A Heat Map injection component of recapitalization according to Bloomberg standards. 3. Global M&A Regional Review 4. Global M&A League Tables Bloomberg M&A delivers real-time coverage of the M&A market from nine countries around the world. We 5. Americas M&A Regional Review provide a global perspective and local insight into unique deal structures in various markets through a 6. Americas M&A League Tables network of over 800 financial and legal advisory firms, ensuring an accurate reflection of key market trends. 8. EMEA M&A Regional Review 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 9. EMEA M&A League Tables trends. 12. APAC M&A Regional Review 13. APAC M&A League Tables Visit {NI LEAG CRL } to download copies of the final release and a full range of market specific league 16. Disclaimer 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 Nageen Qasim +1-646-324-2878 [email protected] EMEA Madeeha Ahmad +44-20-3525-3754 [email protected] Asia Pacific Ee Wen Tay +65-6231-3404 [email protected]

General M&A queries may be submitted to: [email protected], [email protected], [email protected]

Eastern Europe Western Europe North America USD 52.1B USD 933.0B 1 .JPMorgan Chase & Co 12.9% USD 1.9T 1. Morgan Stanley 27.4% 1. Morgan Stanley 32.8% 2. BNP Paribas SA 8.8% 2. JPMorgan Chase & Co 22.5% 3. Rothschild & Co 7.6% 2. Goldman Sachs & Co 29.3% 3. Goldman Sachs & Co 21.8% 3. JPMorgan Chase & Co 27.7%

Asia Pacific Middle East & Africa USD 1.1T USD 120.5B 1. Morgan Stanley 21.9% 1. Goldman Sachs & Co 27.9% 2. JPMorgan Chase & Co 20.5% Latin America 2. JPMorgan Chase & Co 26.0% 3. Goldman Sachs & Co 18.5% USD 132.9B 3. Barclays PLC 17.6% 1. Morgan Stanley 25.4% 2. Bank of America Merrill Lynch 15.6% 3. Banco Itau BBA SA 15.5%

Deal volume and adviser market share for any regional involvement (target, seller, or acquirer) for 1st 3Q2018.

2 Global M&A Regional Review Global M&A: Premium Breakdown 4% 1% 1% • Global M&A deal volume reached $3.0 trillion in the first 3Q2018, representing a 27.0% increase 0-10% compared to the same period last year. Deals involving targets based in North America accounted for $1.5 trillion of the global activity, representing a 52.4% increase year-over-year. 19% 10-25% • Cross border deals accounted for 46.0% of all announced deals. Takeda Pharmaceutical Co Ltd's 25-50% pending acquisition of $80.4 billion of Shire PLC was the largest cross border deal in the first 3Q2018, 34% 50-75% making it the largest company takeover by a Japanese company on record. • Transactions involving targets based in the technology sector increased 76.5% year-over-year to 75-100% 41% $246.3 billion. Broadcom Inc's announced acquisition of CA Inc for $18.1 billion was the largest deal 100%+ for the technology sector this year.

Global M&A: Highlights of 1st 3Q2018 Global M&A: Industry Breakdown Total Amount % YoY Summary Date Target Acquirer Seller Value Industry (Bln.) % of Total Change Number of deals 31,034 Takeda Pharmaceutical Co Financial $672.2 22.2% 5.9% 5/8/2018 Shire PLC - $80,434.8 Volume (Bln.) $2,953.5 Ltd Consumer Non-cyclical $601.8 19.9% 43.8% Avg Deal Size (Mln.) $95.1 Communications $353.9 11.7% 69.2% 3/8/2018 Express Scripts Holding Co Cigna Corp - $68,375.7 Energy $347.4 11.5% 53.9% Top Adviser Industrial $265.6 8.8% -7.0% 8/1/2018 Energy Transfer Partners LP Energy Transfer Equity LP - $59,388.2 Morgan Stanley Technology $246.8 8.2% 76.8% Number of deals 235 Consumer Cyclical $241.0 8.0% -5.6% 4/29/2018 Sprint Corp T-Mobile US Inc - $57,805.6

Volume (Bln.) $758.7 Utilities $145.9 4.8% 31.0% 3Q2018 Global M&A Review | 1st Avg Deal Size (Bln.) $3.2 Basic Materials $141.5 4.7% 113.2% 4/25/2018 Sky PLC Comcast Corp - $46,037.9 Diversified $6.1 0.2% -42.9%

Global M&A: Quarterly Volume Global M&A: Deal Type Breakdown Amount % Change % Change $1,400 14,000 Deal Type (Bln.) Deal Count Volume $1,200 12,000 Company Takeover $1,729.2 1.4% 41.0% $1,000 10,000 Cross Border $1,360.6 0.5% 28.0% $800 8,000 Private Equity $761.6 0.1% 13.1% $600 6,000 Asset sale $495.6 -2.2% 18.3% $400 4,000 Tender Offer $254.7 -20.3% 21.3% Venture Capital $158.2 2.3% 51.5% $200 2,000 Spin-off $51.9 29.2% -30.7% $0 0 2013 Q3 2014 Q3 2015 Q3 2016 Q3 2017 Q3 2018 Q3 Minority purchase $372.4 3.0% 24.8% Majority purchase $250.5 -0.6% 9.5% Volume $(Bln.) Deal Count Quarterly Volume represents any involvement (target, seller, or acquirer). 3 Global Announced Deals 01/01/2018 - 09/30/2018 Cross Border Announced Deals 01/01/2018 - 09/30/2018 2018 2017 2018 2017 MKT SHR VOLUME USD DEAL MKT SHR MKT SHR MKT SHR VOLUME USD DEAL MKT SHR MKT SHR FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE Morgan Stanley 1 25.7 758,716 235 2 18.2 7.5 Morgan Stanley 1 31.3 425,184 129 2 21.0 10.3 Goldman Sachs & Co 2 22.4 660,546 263 1 19.1 3.3 Goldman Sachs & Co 2 26.2 356,725 157 1 25.8 0.4 JPMorgan Chase & Co 3 21.2 626,345 239 3 15.2 6.0 JPMorgan Chase & Co 3 24.9 338,091 138 3 18.7 6.1 Citigroup Inc 4 17.4 513,410 196 4 14.0 3.4 Citigroup Inc 4 18.9 257,577 110 4 16.7 2.3 Barclays PLC 5 12.9 381,870 143 6 9.7 3.3 Bank of America Merrill Lynch 5 13.9 189,195 72 5 16.3 -2.4 Bank of America Merrill Lynch 6 12.1 357,795 136 5 11.2 0.9 Evercore Inc 6 13.8 187,154 61 13 4.5 9.2 Evercore Inc 7 10.8 317,947 112 9 6.9 3.9 Barclays PLC 7 12.5 170,397 70 11 8.0 4.5 Lazard Ltd 8 8.8 259,027 145 8 8.1 0.6 Lazard Ltd 8 9.5 128,872 98 7 10.7 -1.2 Credit Suisse Group AG 9 7.4 217,242 132 7 8.5 -1.1 UBS AG 9 9.1 124,237 65 9 9.7 -0.6 Deutsche Bank AG 10 6.8 200,574 89 12 5.6 1.2 Rothschild & Co 10 7.0 95,438 156 8 10.2 -3.2 Centerview Partners LLC 11 6.6 193,711 34 15 3.7 2.9 Nomura Holdings Inc 11 7.0 94,767 40 17 3.8 3.2 UBS AG 12 5.8 172,293 105 11 6.4 -0.6 Deutsche Bank AG 12 6.1 82,870 50 10 8.4 -2.3 Rothschild & Co 13 5.6 166,403 224 10 6.5 -0.9 Robey Warshaw LLP 13 6.0 81,522 4 18 3.2 2.8 PJT Partners Inc 14 4.4 129,044 22 34 1.1 3.3 Credit Suisse Group AG 14 5.0 67,616 70 6 12.7 -7.7 RBC Capital Markets 15 3.9 116,484 87 16 3.2 0.7 PJT Partners Inc 15 4.8 64,759 11 29 1.8 3.0 Nomura Holdings Inc 16 3.8 112,229 90 21 2.4 1.4 Macquarie Group Ltd 16 4.5 61,133 46 26 1.8 2.7 Wells Fargo & Co 17 3.1 89,993 32 26 1.5 1.5 Moelis & Co 17 3.9 53,048 41 21 2.6 1.3 Moelis & Co 18 3.0 89,128 90 17 2.9 0.1 LionTree Advisors LLC 18 3.8 52,105 10 163 0.0 3.8 Mizuho Financial Group Inc 19 2.8 83,649 88 73 0.3 2.6 Wells Fargo & Co 19 3.7 50,837 11 32 1.6 2.1 Robey Warshaw LLP 20 2.8 81,522 4 27 1.5 1.3 RBC Capital Markets 20 3.6 48,316 43 15 4.4 -0.8 TOTAL 2,953,121 31,106 2,387,946 TOTAL 1,360,625 11,370 1,099,438

Global Private Equity Announced Deals 01/01/2018 - 09/30/2018 2018 2017 MKT SHR VOLUME USD DEAL MKT SHR MKT SHR FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE JPMorgan Chase & Co 1 21.4 162,562 94 3 18.6 2.8 Morgan Stanley 2 20.0 151,793 99 1 26.1 -6.2 Goldman Sachs & Co 3 19.8 150,694 120 2 22.3 -2.4 Citigroup Inc 4 16.6 126,314 72 6 12.7 3.9 Barclays PLC 5 11.0 83,607 62 4 14.3 -3.3 Bank of America Merrill Lynch 6 10.4 78,941 46 7 12.5 -2.1 Lazard Ltd 7 8.7 66,480 68 9 9.0 -0.2 Deutsche Bank AG 8 8.1 61,241 42 12 6.8 1.3 Credit Suisse Group AG 9 7.3 55,769 59 5 14.2 -6.9 Evercore Inc 10 7.0 53,338 56 10 8.9 -1.9 Rothschild & Co 11 5.8 44,050 107 14 5.6 0.2 UBS AG 12 5.6 42,254 46 8 12.4 -6.8 RBC Capital Markets 13 5.4 40,910 36 15 5.3 0.0 Macquarie Group Ltd 14 5.2 39,895 33 19 3.1 2.2 TD Securities Inc 15 4.1 31,529 9 77 0.2 4.0 Jefferies LLC 16 4.1 31,203 67 18 3.8 0.3 Moelis & Co 17 3.7 28,057 42 11 6.9 -3.2 Guggenheim Capital LLC 18 3.6 27,389 8 47 0.6 3.0 Ernst & Young 19 3.2 24,055 93 20 2.7 0.4 China International Capital Corp Ltd 20 3.0 22,813 10 21 2.7 0.3 TOTAL 760,757 9,448 694,227

4 Americas M&A Regional Review Americas M&A: Country Breakdown Amount % YoY • M&A deal volume in the Americas increased by 47.7% to $1.5 trillion compared to the same period Country (Bln.) % of Total Change last year. Transactions targeting companies in the energy sector rose by 65.2% to $259.6 billon. The United States $1,355.1 88.3% 52.0% announced acquisition of Energy Transfer Partners LP by Energy Transfer Equity LP for $59.4 billion Canada $94.5 6.2% 21.2% was the largest transaction in the sector. The United States contributed to 93.3% of the region's total Brazil $28.8 1.9% -22.5% and continued to be the most targeted country for M&A transactions. • The consumer, non-cyclical and financial sectors were the most targeted industries in the region, Bermuda $18.7 1.2% 1781.4% contributing 26.1% and 20.8% to the overall deal volume, respectively. British Virgin Islands $10.2 0.7% 69.1% • Morgan Stanley ranked as the top financial adviser in the first 3Q2018, accounting for 33.5% of the Chile $10.0 0.7% 7.2% market share and advising on 125 deals in the region. Mexico $1.7 0.1% -53.0% Colombia $1.0 0.1% -46.5%

Americas M&A: Highlights of 1st 3Q2018 Americas M&A: Industry Breakdown Total Value Amount % YoY Summary Date Target Acquirer Seller (Mln.) Industry (Bln.) % of Total Change Number of deals 13,244 Takeda Pharmaceutical Co Consumer Non-cyclical $392.0 25.2% 70.5% 5/8/2018 Shire PLC - $80,434.8 Volume (Bln.) $1,534.5 Ltd Financial $312.2 20.0% 56.1% Avg Deal Size (Mln.) $115.7 Energy $260.4 16.7% 65.7% 3/8/2018 Express Scripts Holding Co Cigna Corp - $68,375.7 Technology $162.8 10.4% 181.3% Top Adviser Communications $131.2 8.4% 51.9% 8/1/2018 Energy Transfer Partners LP Energy Transfer Equity LP - $59,388.2 Morgan Stanley Industrial $103.9 6.7% -10.5% Number of deals 125 Consumer Cyclical $89.9 5.8% -12.2% 4/29/2018 Sprint Corp T-Mobile US Inc - $57,805.6

Volume (Bln.) $513.5 Basic Materials $58.0 3.7% 133.5% 3Q2018 ReviewGlobal M&A | 1st Avg Deal Size (Bln.) $4.1 Utilities $46.4 3.0% -31.1% 4/30/2018 Andeavor Marathon Petroleum Corp - $30,465.0 Diversified $1.7 0.1% 179.8%

Americas M&A: Quarterly Volume Americas M&A: Deal Type Breakdown Amount % Change % Change $1,000 7,000 Deal Type (Bln.) Deal Count Volume 6,000 Company Takeover $1,060.7 6.3% 57.2% $800 5,000 Cross Border $493.5 5.0% 36.0% $600 4,000 Private Equity $362.1 5.3% 10.4% Asset sale $233.2 -1.7% 17.4% $400 3,000 2,000 Tender Offer $64.8 -41.7% -14.7% $200 Venture Capital $66.1 4.6% 23.9% 1,000 Spin-off $22.6 51.6% -17.8% $0 0 2013 Q3 2014 Q3 2015 Q3 2016 Q3 2017 Q3 2018 Q3 Minority purchase $128.1 6.6% 46.7% Majority purchase $62.4 4.1% 125.2% Volume $(Bln.) Deal Count 5 Quarterly Volume represents any involvement (target, seller, or acquirer). US Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 US Announced Deals (Target or Seller) 01/01/2018 - 09/30/2018 2018 2017 2018 2017 MKT SHR VOLUME USD DEAL MKT SHR MKT SHR MKT SHR VOLUME USD DEAL MKT SHR MKT SHR FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE Morgan Stanley 1 33.3 579,216 152 2 26.2 7.2 Morgan Stanley 1 33.9 490,204 128 1 27.0 6.9 Goldman Sachs & Co 2 30.3 527,180 207 1 26.9 3.4 Goldman Sachs & Co 2 33.5 484,619 171 2 26.7 6.8 JPMorgan Chase & Co 3 28.3 491,152 166 3 21.0 7.3 JPMorgan Chase & Co 3 28.3 409,102 135 3 22.2 6.1 Citigroup Inc 4 22.6 392,608 126 4 19.1 3.5 Citigroup Inc 4 24.7 356,526 110 4 18.7 6.0 Barclays PLC 5 19.6 341,110 115 5 15.7 4.0 Barclays PLC 5 18.9 273,838 99 5 17.2 1.7 Evercore Inc 6 17.8 309,213 96 8 10.9 6.8 Evercore Inc 6 16.5 238,799 85 7 12.3 4.2 Bank of America Merrill Lynch 7 13.8 239,608 90 6 14.9 -1.2 Bank of America Merrill Lynch 7 12.7 183,170 78 6 14.2 -1.6 Credit Suisse Group AG 8 10.7 186,620 84 7 13.6 -2.9 Centerview Partners LLC 8 12.7 183,042 30 12 5.5 7.2 Centerview Partners LLC 9 10.7 186,211 31 11 6.7 4.0 Credit Suisse Group AG 9 11.7 168,859 76 9 7.3 4.3 Lazard Ltd 10 9.5 165,615 73 9 10.1 -0.6 Deutsche Bank AG 10 9.9 142,834 52 11 6.4 3.5 Deutsche Bank AG 11 9.5 165,142 58 10 6.8 2.7 Lazard Ltd 11 9.6 138,179 53 8 8.7 0.9 PJT Partners Inc 12 7.1 123,605 18 23 1.9 5.2 Nomura Holdings Inc 12 5.6 81,629 8 37 0.7 4.9 Wells Fargo & Co 13 5.2 89,993 30 19 2.7 2.4 RBC Capital Markets 13 5.5 80,062 60 13 4.9 0.7 RBC Capital Markets 14 4.9 85,566 67 14 4.8 0.2 Raine Group LLC 14 5.2 74,695 6 99 0.1 5.1 Nomura Holdings Inc 15 4.8 83,750 12 18 2.8 2.0 Mizuho Financial Group Inc 15 5.0 71,629 9 50 0.4 4.6 UBS AG 16 4.4 76,078 54 12 5.9 -1.6 PJT Partners Inc 16 4.9 70,085 15 21 2.4 2.5 Raine Group LLC 17 4.3 74,876 7 114 0.1 4.2 Moelis & Co 17 4.4 63,177 71 14 4.7 -0.4 Mizuho Financial Group Inc 18 4.1 71,629 9 54 0.3 3.8 UBS AG 18 4.3 62,157 40 10 6.4 -2.1 Rothschild & Co 19 4.1 71,351 73 17 3.5 0.6 Sumitomo Mitsui Financial Group Inc 19 4.0 58,010 6 53 0.3 3.7 Moelis & Co 20 3.8 65,577 77 13 5.0 -1.2 Jefferies LLC 20 3.2 46,482 86 15 4.7 -1.5 TOTAL 1,738,742 14,144 1,268,527 TOTAL 1,446,292 11,640 1,016,932

Canada Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 Canada Announced Deals (Target or Seller) 01/01/2018 - 09/30/2018 2018 2017 2018 2017 MKT SHR VOLUME USD DEAL MKT SHR MKT SHR MKT SHR VOLUME USD DEAL MKT SHR MKT SHR FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE Goldman Sachs & Co 1 28.3 67,086 20 3 17.6 10.7 TD Securities Inc 1 36.7 46,445 25 4 19.8 16.9 Morgan Stanley 2 26.2 62,311 19 7 11.5 14.7 Citigroup Inc 2 24.3 30,800 13 9 11.0 13.3 Citigroup Inc 3 25.4 60,377 20 11 8.4 17.1 Goldman Sachs & Co 3 23.5 29,726 11 3 20.8 2.7 TD Securities Inc 4 24.2 57,426 29 6 13.1 11.1 Bank of America Merrill Lynch 4 21.7 27,474 7 8 11.5 10.2 Bank of America Merrill Lynch 5 21.8 51,726 15 8 11.5 10.3 Morgan Stanley 5 20.5 25,902 9 12 7.6 12.9 JPMorgan Chase & Co 6 18.6 44,209 16 1 34.1 -15.5 BMO Capital Markets Corp/Toronto 6 20.1 25,503 31 13 7.6 12.6 BMO Capital Markets Corp/Toronto 7 17.6 41,673 38 12 6.1 11.5 JPMorgan Chase & Co 7 17.8 22,517 8 1 28.9 -11.1 Bank of Nova Scotia/The 8 17.1 40,609 29 10 8.8 8.3 RBC Capital Markets 8 14.2 17,968 20 2 21.1 -6.9 RBC Capital Markets 9 15.8 37,599 28 4 16.2 -0.4 Bank of Nova Scotia/The 9 13.9 17,602 24 5 17.5 -3.6 Deutsche Bank AG 10 14.7 35,013 6 18 4.0 10.8 Canson Capital Partners 10 13.4 17,000 1 - - 13.4 Barclays PLC 11 11.8 27,987 16 2 21.3 -9.5 Guggenheim Capital LLC 10 13.4 17,000 1 - - 13.4 Lazard Ltd 12 11.2 26,521 11 5 15.3 -4.1 Centerview Partners LLC 10 13.4 17,000 1 - - 13.4 Centerview Partners LLC 13 7.3 17,300 3 21 3.8 3.5 CIBC 13 11.3 14,322 22 7 14.7 -3.3 Canson Capital Partners 14 7.2 17,000 1 - - 7.2 Lazard Ltd 14 8.7 11,052 5 10 7.9 0.9 Guggenheim Capital LLC 14 7.2 17,000 1 - - 7.2 Greenhill & Co Inc 15 8.0 10,112 5 40 0.4 7.6 CIBC 16 6.8 16,118 26 9 9.0 -2.2 Canaccord Genuity Corp 16 5.3 6,686 15 37 0.5 4.8 Rothschild & Co 17 6.0 14,180 13 20 3.8 2.2 Credit Suisse Group AG 17 4.6 5,848 7 17 3.5 1.2 China International Capital Corp Ltd 18 5.9 14,000 1 - - 5.9 National Bank Financial Inc 18 3.9 4,928 11 15 4.5 -0.6 CITIC Securities Co Ltd 18 5.9 14,000 1 - - 5.9 GMP Securities LP 19 3.7 4,726 9 31 0.8 2.9 Credit Suisse Group AG 20 5.9 13,920 12 13 5.6 0.3 Sinolink Securities Co Ltd 20 3.2 4,066 1 - - 3.2 TOTAL 237,495 2,587 208,212 TOTAL 126,672 1,737 104,967

6 Latin America Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 Brazil Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 2018 2017 2018 2017 MKT SHR VOLUME USD DEAL MKT SHR MKT SHR MKT SHR VOLUME USD DEAL MKT SHR MKT SHR FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE Morgan Stanley 1 41.1 25,840 10 3 11.5 29.6 Morgan Stanley 1 60.2 21,427 7 6 11.4 48.9 Bank of America Merrill Lynch 2 32.8 20,607 10 4 11.3 21.5 Banco Itau BBA SA 2 57.8 20,580 28 3 15.8 42.0 Banco Itau BBA SA 3 32.7 20,580 28 5 10.4 22.3 Banco Bradesco BBI SA 3 53.9 19,174 12 5 12.7 41.2 Banco Bradesco BBI SA 4 30.5 19,174 12 7 8.0 22.5 JPMorgan Chase & Co 4 49.1 17,472 3 8 6.4 42.7 JPMorgan Chase & Co 5 30.3 19,034 8 8 6.8 23.5 Riza Capital Consultoria 5 45.9 16,332 4 34 0.0 45.9 Riza Capital Consultoria 6 26.0 16,332 4 48 0.0 26.0 Bank of America Merrill Lynch 6 42.8 15,219 4 4 13.6 29.2 Goldman Sachs & Co 7 9.0 5,636 8 12 4.7 4.3 Banco BTG Pactual SA 7 14.5 5,168 7 1 27.1 -12.6 Banco BTG Pactual SA 8 8.7 5,441 9 1 24.9 -16.3 Credit Suisse Group AG 8 3.4 1,207 3 7 7.0 -3.6 Sinolink Securities Co Ltd 9 6.5 4,066 1 - - 6.5 Cooperatieve Rabobank UA 9 2.7 969 1 37 - 2.7 Citigroup Inc 10 5.1 3,178 8 9 5.8 -0.8 Jefferies LLC 9 2.7 969 1 - - 2.7 Credit Suisse Group AG 11 3.4 2,154 6 6 8.2 -4.8 Goldman Sachs & Co 11 2.0 693 3 18 1.4 0.6 Lazard Ltd 12 2.7 1,695 7 13 3.8 -1.1 Vinci Partners Investimentos Ltda 12 1.8 630 7 37 - 1.8 Jefferies LLC 13 2.0 1,269 2 - - 2.0 Banco Safra SA 13 1.5 546 2 32 0.1 1.4 GBS Finanzas SA 14 1.8 1,120 1 43 0.1 1.7 BR Partners 14 1.1 384 1 24 0.5 0.5 Deutsche Bank AG 14 1.8 1,120 1 21 1.5 0.3 Banco Santander SA 15 0.8 280 4 2 19.5 -18.7 Cooperatieve Rabobank UA 16 1.5 969 1 53 - 1.5 Moelis & Co 16 0.7 250 1 27 0.4 0.3 Banco Santander SA 17 1.3 819 8 2 14.3 -13.0 Citigroup Inc 17 0.3 120 1 37 - 0.3 Rothschild & Co 18 1.2 759 6 17 2.7 -1.5 Ernst & Young 18 0.2 56 1 - - 0.2 Vinci Partners Investimentos Ltda 19 1.0 630 7 53 - 1.0 RGS Partners Assessoria 19 0.1 48 5 35 0.0 0.1 Banco Safra SA 20 0.9 546 2 41 0.1 0.8 XP Investimentos Corretora 20 0.1 22 1 10 4.0 -3.9 TOTAL 62,883 567 73,046 TOTAL 35,589 265 45,821

Latin America Announced Deals (Target or Seller) 01/01/2018 - 09/30/2018 Brazil Announced Deals (Target or Seller) 01/01/2018 - 09/30/2018 2018 2017 2018 2017 MKT SHR VOLUME USD DEAL MKT SHR MKT SHR MKT SHR VOLUME USD DEAL MKT SHR MKT SHR FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE Morgan Stanley 1 32.8 32,783 11 4 19.0 13.7 Banco Itau BBA SA 1 64.1 20,580 28 3 16.8 47.3 Banco Itau BBA SA 2 20.6 20,580 28 10 7.9 12.6 Morgan Stanley 2 60.7 19,508 5 6 8.0 52.7 Bank of America Merrill Lynch 3 20.1 20,122 8 1 20.3 -0.2 Banco Bradesco BBI SA 3 56.7 18,205 11 4 14.1 42.6 Banco Bradesco BBI SA 4 18.2 18,205 11 11 6.3 11.9 JPMorgan Chase & Co 4 51.4 16,522 2 7 7.1 44.3 JPMorgan Chase & Co 5 18.1 18,084 7 12 3.3 14.8 Riza Capital Consultoria 5 50.8 16,332 4 34 0.1 50.8 Riza Capital Consultoria 6 16.3 16,332 4 70 0.0 16.3 Bank of America Merrill Lynch 6 47.4 15,219 4 5 11.6 35.8 Citigroup Inc 7 13.3 13,271 8 2 19.9 -6.6 Banco BTG Pactual SA 7 16.1 5,168 7 1 29.0 -13.0 Goldman Sachs & Co 8 6.1 6,066 10 5 16.6 -10.5 Goldman Sachs & Co 8 2.2 693 3 22 0.6 1.6 Banco BTG Pactual SA 9 5.4 5,441 9 3 19.7 -14.3 Vinci Partners Investimentos Ltda 9 2.0 630 7 37 - 2.0 Sinolink Securities Co Ltd 10 4.1 4,066 1 - - 4.1 Banco Safra SA 10 1.7 546 2 33 0.1 1.6 Credit Suisse Group AG 11 2.6 2,566 8 13 3.1 -0.5 BR Partners 11 1.2 384 1 21 0.6 0.6 China Renaissance Partners 12 2.5 2,455 1 - - 2.5 Banco Santander SA 12 0.9 280 4 2 21.6 -20.8 Gram Capital Ltd 13 2.4 2,444 4 24 1.2 1.3 Credit Suisse Group AG 13 0.8 257 2 9 4.3 -3.5 China International Capital Corp Ltd 14 2.4 2,382 3 - - 2.4 Moelis & Co 14 0.8 250 1 25 0.5 0.3 Goldin Financial Holdings Ltd 15 2.3 2,295 2 - - 2.3 Citigroup Inc 15 0.4 120 1 37 - 0.4 Lazard Ltd 16 1.9 1,940 8 18 1.8 0.1 Ernst & Young 16 0.2 56 1 - - 0.2 GBS Finanzas SA 17 1.1 1,120 1 57 0.1 1.1 RGS Partners Assessoria 17 0.2 48 5 35 0.0 0.1 Deutsche Bank AG 17 1.1 1,120 2 20 1.5 -0.4 XP Investimentos Corretora 18 0.1 22 1 8 4.4 -4.4 Banco Santander SA 19 0.8 819 8 9 11.3 -10.5 Banco Fator SA 19 0.0 11 2 - - 0.0 Vinci Partners Investimentos Ltda 20 0.6 630 7 80 - 0.6 Greenhill & Co Inc 20 - - 2 37 - - TOTAL 100,048 676 92,409 TOTAL 32,128 233 41,354

7 EMEA M&A Regional Review EMEA M&A: Country Breakdown Amount % YoY • Deal volume for EMEA-based targets reached $746.7 billion in the first 3Q2018, a 26.5% increase from Country (Bln.) % of Total Change the same period last year. The United Kingdom continued to be the most targeted country in the United Kingdom $235.9 31.6% 40.8% region, generating $236.0 billion in transactional value. Germany $111.2 14.9% 159.4% • M&A deal activity in the communications sector experienced an increase of 453.8% year-over-year, Spain $47.1 6.3% 79.7% partly due to Comcast Corp's pending acquisition of Sky PLC for $46.0 billion. This deal was the largest France $38.4 5.1% -58.8% of the quarter in the EMEA region. Switzerland $34.1 4.6% -0.2% • Cross border deals in the region reached $578.23 billion, accounting for more than three quarters of the overall volume in the region. Italy $30.4 4.1% -42.3% Netherlands $29.3 3.9% 41.8% Finland $3.7 0.5% -32.3%

EMEA M&A Highlights of 1st 3Q2018 EMEA M&A: Industry Breakdown Total Amount % YoY Summary Date Target Acquirer Seller Value Industry (Bln.) % of Total Change Number of deals 7,990 Financial $186.6 23.9% -1.4% 4/25/2018 Sky PLC Comcast Corp - $46,037.9 Volume (Bln.) $747.6 Communications $141.2 18.1% 453.8% Avg Deal Size (Mln.) $93.5 Consumer Non-cyclical $123.9 15.9% 2.5% 5/11/2018 EDP - Energias de Portugal SA China Three Gorges Corp - $28,159.9 Utilities $83.5 10.7% 277.1% Top Adviser Liberty Global Industrial $69.6 8.9% 5.4% 5/9/2018 Multiple targets Vodafone Group PLC $21,813.2 Morgan Stanley PLC Consumer Cyclical $68.8 8.8% -15.1% Number of deals 59 Energy $42.8 5.5% -7.9% 3/12/2018 Innogy SE E.ON SE RWE AG $21,669.9

Volume (Bln.) $183.3 Technology $33.0 4.2% 49.9% 3Q2018 ReviewGlobal M&A | 1st Avg Deal Size (Bln.) $3.1 CK Hutchison Holdings Basic Materials $27.9 3.6% 108.9% 7/3/2018 Multiple targets VEON Ltd $14,148.9 Ltd Diversified $1.8 0.2% -63.3%

EMEA M&A: Quarterly Volume EMEA M&A: Deal Type Breakdown Amount % Change % Change $500 5,000 Deal Type (Bln.) Deal Count Volume $400 4,000 Company Takeover $418.6 -6.3% 45.2% Cross Border $579.2 -2.6% 32.4% $300 3,000 Private Equity $224.5 -6.8% 19.9%

$200 2,000 Asset sale $187.9 -1.5% 39.3% Tender Offer $159.4 -36.3% 63.2% $100 1,000 Venture Capital $19.8 -3.2% 50.6% Spin-off $22.3 63.0% 245.9% $0 0 2013 Q3 2014 Q3 2015 Q3 2016 Q3 2017 Q3 2018 Q3 Minority purchase $62.2 -7.7% -7.2% Majority purchase $64.0 -1.7% -16.6% Volume $(Bln.) Deal Count 8 Quarterly Volume represents any involvement (target, seller, or acquirer). Europe Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 Europe Announced Deals (Target or Seller) 01/01/2018 - 09/30/2018 2018 2017 2018 2017 MKT SHR VOLUME USD DEAL MKT SHR MKT SHR MKT SHR VOLUME USD DEAL MKT SHR MKT SHR FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE Morgan Stanley 1 26.8 255,673 84 2 20.5 6.3 Morgan Stanley 1 23.7 180,276 67 5 18.3 5.4 JPMorgan Chase & Co 2 22.0 209,826 115 5 16.1 5.9 Goldman Sachs & Co 2 19.9 151,495 82 1 22.9 -3.0 Goldman Sachs & Co 3 21.3 203,431 108 1 25.5 -4.2 JPMorgan Chase & Co 3 19.1 144,748 91 7 16.3 2.7 Bank of America Merrill Lynch 4 16.4 156,236 52 3 19.9 -3.6 Bank of America Merrill Lynch 4 18.5 140,662 41 3 18.9 -0.3 Citigroup Inc 5 15.2 145,492 71 4 17.0 -1.8 Rothschild & Co 5 18.2 137,978 183 4 18.7 -0.6 Rothschild & Co 6 14.9 142,560 194 6 15.8 -0.9 Lazard Ltd 6 15.8 119,907 82 6 16.9 -1.1 Lazard Ltd 7 14.8 141,441 93 7 14.5 0.3 Citigroup Inc 7 14.0 106,716 58 2 19.1 -5.0 Barclays PLC 8 12.5 119,304 52 12 6.5 6.0 Barclays PLC 8 13.6 103,426 40 12 7.4 6.2 UBS AG 9 11.3 108,337 48 11 8.5 2.9 UBS AG 9 11.7 88,939 37 10 10.2 1.5 Evercore Inc 10 9.0 86,221 40 28 2.0 7.0 Evercore Inc 10 10.8 81,874 32 28 2.2 8.6 Robey Warshaw LLP 11 8.5 81,522 4 15 4.5 4.1 Robey Warshaw LLP 11 9.3 71,022 3 20 2.8 6.6 PJT Partners Inc 12 6.3 60,078 9 29 2.0 4.3 PJT Partners Inc 12 7.9 59,978 8 24 2.3 5.6 Credit Suisse Group AG 13 6.2 59,186 52 8 12.9 -6.7 Credit Suisse Group AG 13 7.5 57,277 41 8 14.5 -6.9 LionTree Advisors LLC 14 5.9 56,658 10 126 0.1 5.9 LionTree Advisors LLC 14 7.5 56,658 10 131 0.0 7.4 Deutsche Bank AG 15 5.6 53,780 33 10 10.1 -4.5 Wells Fargo & Co 15 6.4 48,340 7 21 2.7 3.6 BNP Paribas SA 16 5.6 53,693 50 9 10.4 -4.8 BNP Paribas SA 16 6.1 46,625 41 9 12.8 -6.7 Wells Fargo & Co 17 5.1 49,010 9 22 2.4 2.7 Banco Comercial Portugues SA 17 5.2 39,409 2 97 0.1 5.1 Banco Comercial Portugues SA 18 4.1 39,409 2 103 0.1 4.1 Deutsche Bank AG 18 5.1 38,674 29 11 9.7 -4.6 Macquarie Group Ltd 19 2.9 27,711 30 35 1.3 1.6 Macquarie Group Ltd 19 3.6 27,579 26 34 1.6 2.0 Societe Generale SA 20 2.8 27,075 26 18 3.2 -0.4 Societe Generale SA 20 3.6 27,075 26 16 3.5 0.1 TOTAL 955,775 9,552 787,206 TOTAL 760,026 7,750 634,986

UK Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 Germany Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 2018 2017 2018 2017 MKT SHR VOLUME USD DEAL MKT SHR MKT SHR MKT SHR VOLUME USD DEAL MKT SHR MKT SHR FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE Morgan Stanley 1 36.7 153,184 32 2 28.7 8.0 Goldman Sachs & Co 1 42.4 66,294 14 7 10.6 31.9 Barclays PLC 2 24.7 103,090 31 11 9.6 15.1 Morgan Stanley 2 23.0 35,924 14 3 14.4 8.6 JPMorgan Chase & Co 3 22.9 95,666 47 4 15.4 7.5 Rothschild & Co 3 22.5 35,168 21 1 16.1 6.4 Goldman Sachs & Co 4 21.5 89,934 50 1 38.1 -16.6 JPMorgan Chase & Co 4 21.2 33,066 20 2 15.2 6.0 Robey Warshaw LLP 5 19.5 81,522 4 10 10.5 9.0 BNP Paribas SA 5 20.7 32,358 7 28 0.8 19.9 Bank of America Merrill Lynch 6 19.0 79,443 26 3 22.3 -3.3 Citigroup Inc 6 18.2 28,395 8 6 11.3 6.9 Citigroup Inc 7 17.4 72,649 30 7 12.7 4.7 Lazard Ltd 7 17.9 27,964 8 16 5.0 12.9 Rothschild & Co 8 16.5 69,029 98 9 10.6 5.9 Bank of America Merrill Lynch 8 16.4 25,688 7 14 5.6 10.8 UBS AG 9 16.0 66,725 19 5 15.0 1.0 UBS AG 9 15.1 23,656 5 13 6.2 9.0 Evercore Inc 10 15.0 62,724 26 27 3.2 11.9 LionTree Advisors LLC 10 14.0 21,813 1 - - 14.0 PJT Partners Inc 11 13.7 57,386 6 18 4.3 9.5 Robey Warshaw LLP 10 14.0 21,813 1 - - 14.0 Deutsche Bank AG 12 11.6 48,236 17 8 11.5 - Perella Weinberg Partners LP 12 13.9 21,670 1 15 5.2 8.7 Wells Fargo & Co 13 11.0 46,038 3 16 5.2 5.8 Ernst & Young 13 7.9 12,399 49 8 9.0 -1.1 Credit Suisse Group AG 14 9.4 39,095 24 6 14.6 -5.2 Deutsche Bank AG 14 7.0 10,970 6 4 13.6 -6.6 LionTree Advisors LLC 15 7.6 31,905 3 105 0.0 7.6 Macquarie Group Ltd 15 6.9 10,837 9 12 6.9 0.1 Macquarie Group Ltd 16 5.6 23,203 17 28 2.5 3.0 Goetzpartners Corporate Finance 16 6.1 9,561 7 46 0.3 5.9 RBC Capital Markets 17 5.4 22,565 15 15 5.6 -0.2 Credit Suisse Group AG 17 3.8 5,966 7 17 3.9 0.0 Ernst & Young 18 4.5 18,591 49 23 3.5 0.9 Credit Agricole Corporate & Investment Bank 18 3.5 5,513 3 25 1.1 2.5 Jefferies LLC 19 4.4 18,429 21 26 3.2 1.2 RBC Capital Markets 19 3.4 5,364 1 67 - 3.4 Lazard Ltd 20 3.5 14,562 20 13 6.7 -3.2 D'Angelin & Co Ltd 20 3.1 4,788 1 - - 3.1 TOTAL 417,776 3,662 335,041 TOTAL 156,326 1,614 83,591

9 France Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 Italy Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 2018 2017 2018 2017 MKT SHR VOLUME USD DEAL MKT SHR MKT SHR MKT SHR VOLUME USD DEAL MKT SHR MKT SHR FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE JPMorgan Chase & Co 1 43.7 56,530 26 11 9.6 34.1 Rothschild & Co 1 22.6 10,959 21 1 48.4 -25.8 Lazard Ltd 2 28.2 36,534 44 5 22.8 5.4 Goldman Sachs & Co 2 17.5 8,486 7 10 3.3 14.2 Morgan Stanley 3 23.6 30,526 14 7 17.3 6.3 Studio Tributario Associato Facchini Rossi 3 15.2 7,393 2 - - 15.2 Rothschild & Co 4 20.4 26,426 66 2 43.8 -23.4 Barclays PLC 4 11.8 5,706 7 12 2.9 8.9 BNP Paribas SA 5 15.6 20,177 28 1 45.2 -29.6 Jefferies LLC 5 11.6 5,614 2 21 0.7 10.9 Ardea Partners LLC 6 11.8 15,201 1 - - 11.8 Bank of America Merrill Lynch 6 11.2 5,439 5 7 8.5 2.7 Goldman Sachs & Co 7 11.2 14,507 14 4 23.1 -11.9 Mediobanca Banca di Credito Finanziario 7 10.9 5,299 4 4 34.0 -23.1 Credit Agricole Corporate & Investment Bank 8 10.7 13,843 14 6 22.2 -11.5 Credit Suisse Group AG 8 10.6 5,137 4 13 2.6 8.0 Societe Generale SA 9 10.5 13,570 16 9 13.5 -3.0 Intesa Sanpaolo SpA 9 8.2 3,978 12 39 0.1 8.1 Guggenheim Capital LLC 10 8.6 11,137 1 - - 8.6 Morgan Stanley 10 7.7 3,723 5 8 5.4 2.2 Citigroup Inc 11 7.5 9,721 7 3 27.5 -20.0 JPMorgan Chase & Co 11 7.4 3,602 10 9 3.6 3.9 Evercore Inc 12 4.5 5,784 4 22 1.2 3.3 Banco Bradesco BBI SA 12 6.5 3,140 2 - - 6.5 D'Angelin & Co Ltd 13 3.7 4,788 1 - - 3.7 Societe Generale SA 13 6.3 3,032 3 20 1.0 5.3 Banco Santander SA 14 3.2 4,135 3 62 - 3.2 Banco Itau BBA SA 14 5.5 2,689 1 48 0.0 5.5 PJT Partners Inc 15 2.1 2,692 3 43 0.2 1.9 Banco BTG Pactual SA 14 5.5 2,689 1 - - 5.5 Bank of America Merrill Lynch 16 2.1 2,656 2 13 8.5 -6.4 Nomura Holdings Inc 16 5.4 2,616 4 41 0.1 5.3 KPMG Corporate Finance LLC 17 2.0 2,604 12 47 0.2 1.9 Lazard Ltd 17 4.4 2,135 13 6 19.9 -15.5 Arpwood Capital Pvt Ltd 18 1.6 2,101 1 - - 1.6 UBS AG 18 4.1 1,972 5 19 1.1 3.0 Canaccord Genuity Corp 19 1.4 1,782 5 23 1.1 0.3 Cantor Fitzgerald LP 19 3.1 1,516 1 - - 3.1 CIBC 20 1.3 1,700 1 - - 1.3 UniCredit SpA 19 3.1 1,516 3 - - 3.1 TOTAL 129,419 1,320 175,194 TOTAL 48,548 566 61,840

Benelux Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 Iberia Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 2018 2017 2018 2017 MKT SHR VOLUME USD DEAL MKT SHR MKT SHR MKT SHR VOLUME USD DEAL MKT SHR MKT SHR FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE Lazard Ltd 1 29.0 33,104 24 7 15.9 13.1 Banco Comercial Portugues SA 1 41.9 39,409 2 30 1.4 40.5 JPMorgan Chase & Co 2 27.1 30,926 24 1 27.3 -0.2 Lazard Ltd 2 34.5 32,522 6 12 8.1 26.5 Goldman Sachs & Co 3 25.6 29,181 12 5 17.1 8.4 Morgan Stanley 3 34.4 32,337 8 1 19.9 14.4 LionTree Advisors LLC 4 15.4 17,587 3 45 0.2 15.2 Bank of America Merrill Lynch 4 30.3 28,565 4 7 11.1 19.2 Morgan Stanley 5 13.9 15,848 15 9 14.2 -0.3 UBS AG 5 29.9 28,160 3 5 12.8 17.1 Evercore Inc 6 13.7 15,693 7 28 1.9 11.8 Citigroup Inc 6 16.5 15,514 7 6 11.4 5.1 Moelis & Co 7 13.2 15,099 6 55 0.1 13.1 Rothschild & Co 7 13.1 12,298 10 3 15.5 -2.5 HSBC Bank PLC 8 11.5 13,080 3 38 0.4 11.1 JPMorgan Chase & Co 8 8.9 8,371 6 2 19.3 -10.4 Citigroup Inc 9 7.6 8,652 11 2 24.7 -17.1 Banco Santander SA 9 8.4 7,950 8 8 11.1 -2.6 BNP Paribas SA 10 5.1 5,760 11 6 16.4 -11.3 Goldman Sachs & Co 10 7.8 7,349 6 9 10.0 -2.2 Nomura Holdings Inc 11 4.8 5,451 5 31 0.9 3.9 Societe Generale SA 11 7.5 7,086 7 20 3.5 4.0 UBS AG 12 4.6 5,257 4 12 7.2 -2.6 Evercore Inc 12 5.4 5,085 5 31 1.2 4.2 Barclays PLC 13 4.5 5,105 7 20 3.0 1.5 PricewaterhouseCoopers LLP 13 5.2 4,932 34 11 9.8 -4.6 Rothschild & Co 14 3.9 4,468 36 3 21.6 -17.7 Credit Suisse Group AG 14 3.9 3,707 3 21 3.3 0.7 Credit Suisse Group AG 15 3.7 4,256 6 14 6.4 -2.6 Ernst & Young 15 2.2 2,058 41 4 12.9 -10.7 Jefferies LLC 16 3.3 3,744 8 43 0.3 3.0 Banco Bilbao Vizcaya Argentaria SA 16 1.8 1,725 5 18 4.0 -2.2 Societe Generale SA 17 3.2 3,664 4 72 - 3.2 Alantra Srl 17 1.8 1,679 4 24 2.4 -0.6 Kempen & Co NV 18 2.9 3,275 4 64 0.0 2.8 Nomura Holdings Inc 18 1.7 1,626 6 27 1.9 -0.2 Banco Santander SA 19 2.5 2,897 1 - - 2.5 Deutsche Bank AG 19 1.5 1,370 4 10 9.9 -8.4 Arma Partners LLP 20 2.3 2,650 4 - - 2.3 RBC Capital Markets 20 1.3 1,178 1 51 0.1 1.1 TOTAL 114,170 1,201 114,939 TOTAL 94,147 567 43,653

10 Nordic Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 Eastern Europe Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 2018 2017 2018 2017 MKT SHR VOLUME USD DEAL MKT SHR MKT SHR MKT SHR VOLUME USD DEAL MKT SHR MKT SHR FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE LionTree Advisors LLC 1 21.3 20,619 4 65 0.1 21.2 JPMorgan Chase & Co 1 13.0 6,744 5 13 1.4 11.5 Nordea Bank AB 2 20.4 19,709 9 5 14.6 5.8 BNP Paribas SA 2 8.8 4,571 6 34 0.1 8.7 Barclays PLC 3 19.1 18,484 8 10 5.9 13.2 Rothschild & Co 3 7.6 3,941 6 3 7.6 -0.1 Morgan Stanley 4 18.6 17,968 11 1 31.1 -12.5 Morgan Stanley 4 7.3 3,785 3 2 8.9 -1.6 Goldman Sachs & Co 5 12.5 12,084 11 2 19.6 -7.1 LionTree Advisors LLC 5 6.6 3,438 1 16 0.7 5.9 JPMorgan Chase & Co 6 11.0 10,597 16 3 18.6 -7.6 Barclays PLC 5 6.6 3,438 2 41 - 6.6 Macquarie Group Ltd 7 10.5 10,180 4 45 0.4 10.1 Societe Generale SA 5 6.6 3,438 2 6 4.3 2.3 Citigroup Inc 8 9.5 9,227 19 23 1.6 8.0 Citigroup Inc 8 6.0 3,128 5 12 2.1 4.0 Bank of America Merrill Lynch 9 8.9 8,649 7 6 11.3 -2.3 Goldman Sachs & Co 9 5.2 2,713 4 23 0.5 4.8 Rothschild & Co 10 7.9 7,671 17 4 16.1 -8.2 VTB Capital JSC 10 4.7 2,448 4 1 10.7 -6.0 Skandinaviska Enskilda Banken AB 11 5.6 5,421 16 13 5.4 0.3 PJT Partners Inc 11 4.2 2,201 1 - - 4.2 Jefferies LLC 12 5.0 4,834 6 18 2.6 2.4 Evercore Inc 12 4.2 2,200 1 11 2.2 2.1 Lazard Ltd 13 4.8 4,596 11 14 4.4 0.4 UBS AG 13 4.0 2,086 4 41 - 4.0 Ondra LLP 14 4.7 4,553 1 - - 4.7 Deutsche Bank AG 14 2.3 1,172 2 5 5.5 -3.3 Evercore Inc 15 4.5 4,316 6 34 1.0 3.5 Credit Suisse Group AG 15 1.7 893 4 7 3.7 -2.0 Deutsche Bank AG 16 4.1 3,944 9 7 8.6 -4.5 Ernst & Young 16 1.5 775 7 4 5.6 -4.1 Societe Generale SA 17 3.8 3,664 2 - - 3.8 Bank of America Merrill Lynch 17 1.2 606 1 41 - 1.2 BNP Paribas SA 18 3.6 3,457 3 31 1.0 2.5 Lazard Ltd 18 1.1 567 3 14 1.3 -0.2 KPMG Corporate Finance LLC 19 3.1 2,989 30 33 1.0 2.1 UniCredit SpA 19 0.8 393 1 41 - 0.8 Ernst & Young 20 2.8 2,753 31 11 5.6 -2.8 Superia Corporate Finance 20 0.7 386 3 - - 0.7 TOTAL 96,790 1,400 78,259 TOTAL 52,012 821 35,310

Africa/ME Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 2018 2017 MKT SHR VOLUME USD DEAL MKT SHR MKT SHR FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE Goldman Sachs & Co 1 28.0 33,731 13 2 10.3 17.7 JPMorgan Chase & Co 2 26.1 31,393 13 5 7.2 18.9 Barclays PLC 3 17.6 21,251 7 15 3.2 14.4 Morgan Stanley 4 15.4 18,576 10 6 6.9 8.5 Raine Group LLC 5 13.3 16,000 1 - - 13.3 Evercore Inc 6 9.3 11,143 8 63 - 9.3 Lazard Ltd 7 8.5 10,193 9 9 4.3 4.2 Bank of America Merrill Lynch 8 8.0 9,617 5 7 6.4 1.6 UBS AG 9 7.2 8,607 5 1 11.1 -4.0 Rothschild & Co 10 6.8 8,147 13 17 2.6 4.2 Macquarie Group Ltd 11 6.3 7,553 3 4 7.8 -1.5 Greenhill & Co Inc 12 5.6 6,719 1 30 0.3 5.2 Citigroup Inc 13 4.9 5,954 11 10 4.2 0.7 Societe Generale SA 14 4.7 5,634 3 63 - 4.7 Credit Agricole Corporate & Investment Bank 14 4.7 5,634 2 20 2.3 2.3 Perella Weinberg Partners LP 16 3.7 4,440 2 16 3.0 0.7 Centerview Partners LLC 17 3.4 4,033 2 12 3.8 -0.5 Banco Santander SA 18 2.4 2,897 1 - - 2.4 Arpwood Capital Pvt Ltd 19 1.7 2,101 1 - - 1.7 KPMG Corporate Finance LLC 20 1.6 1,945 10 52 0.0 1.6 TOTAL 120,460 1,086 73,024

11 APAC M&A Regional Review APAC M&A: Quarterly Volume $600 6,000 • M&A activity targeting the APAC region for the first 3Q2018 decreased by 8.8% year-on-year to $400 4,000 $680.1 billion. Inbound transactions continued to dominate the M&A activity in the region, $200 2,000 accounting for 92.7% of the deal volume. Deals exceeding $1.0 billion in value increased to 105 deals this quarter. The value of deals targeting Chinese companies or assets accounted for 46.7% of the $0 0 total deal volume. • The financial and industrial sectors were the most targeted industries, accounting for 39.8% of the Volume $(Bln.) Deal Count region's overall volume. The pending acquisition of APA Group led by CK Infrastructure Holdings Ltd for $16.3 billion was the largest deal involving an APAC-based target this year. Australia/NZ M&A: Quarterly Volume • Private equity deal volume increased by 12.6% year-on-year to $178.7 billion. Sequoia Capital was the $80 600 most active investor in the first 3Q2018 with its involvement in 55 deals. $60 400 APAC M&A: Highlights of 1st 3Q2018 $40 Total 200 $20 Summary Date Target Acquirer Seller Value Number of deals 9,780 $0 0 8/13/2018 APA Group Multiple Acquirers - $16,364.9 Volume (Bln.) $679.3 Avg Deal Size (Mln.) $69.5 Flipkart Online 5/9/2018 Walmart Inc Multiple Sellers $16,000.0 Volume $(Bln.) Deal Count Services Pvt Ltd Zhejiang Ant Small & Top Adviser Greater China M&A: Quarterly Volume 6/8/2018 Micro Financial Multiple Acquirers - $14,000.0 JPMorgan Chase & Co Services $300 3000 Number of deals 22 Yantai Wanhua Wanhua Chemical Group Co 5/9/2018 Multiple Sellers $10,232.7 Chemical Co Ltd Ltd $200 2000 Volume (Bln.) $68.8 3Q2018 ReviewGlobal M&A | 1st Inner Mongolia Avg Deal Size (Bln.) $3.1 Baotou Iron and Steel Group $100 1000 4/20/2018 BaoTou Steel Union - $8,151.9 Co Ltd Co Ltd $0 0 APAC M&A: Breakdown Amount % Change % YoY Volume $(Bln.) Deal Count APAC Industry Breakdown Financial Deal Type (Bln.) Deal Change Industrial Company Takeover $259.7 0.8% -2.8% Japan M&A: Quarterly Volume 2% 0% Consumer Non-cyclical Cross Border $294.5 0.4% 10.5% $150 1000 7% Consumer Cyclical Private Equity $178.4 -1.0% 12.4% $100 8% 25% Asset sale $76.0 -3.6% -10.6% Communications 500 8% Basic Materials Tender Offer $30.5 -4.9% -16.1% $50 Venture Capital $72.2 4.3% 90.7% 12% 14% Technology Spin-off $7.1 -6.2% -82.8% $0 0 Energy 12% 12% Minority purchase $180.2 7.3% 25.2% Utilities Majority purchase $125.9 -1.8% 1.0% Volume $(Bln.) Deal Count Diversified Graphs represent any regional involvement (target, seller, or acquirer).

12 AU & NZ Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 Japan Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 2018 2017 2018 2017 MKT SHR VOLUME USD DEAL MKT SHR MKT SHR MKT SHR VOLUME USD DEAL MKT SHR MKT SHR FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE Macquarie Group Ltd 1 37.2 50,889 32 2 20.6 16.6 JPMorgan Chase & Co 1 50.5 114,066 15 7 10.0 40.5 Morgan Stanley 2 34.9 47,772 15 9 6.5 28.4 Nomura Holdings Inc 2 46.9 105,887 70 1 26.7 20.2 UBS AG 3 25.6 35,122 19 1 21.3 4.3 Morgan Stanley 3 46.6 105,227 44 3 21.9 24.7 Goldman Sachs & Co 4 23.0 31,466 17 5 10.7 12.3 Goldman Sachs & Co 4 46.1 104,219 16 2 24.1 22.1 JPMorgan Chase & Co 5 20.1 27,512 10 4 13.3 6.8 Citigroup Inc 5 37.5 84,747 8 11 5.5 32.0 Citigroup Inc 6 18.2 24,892 16 15 4.6 13.6 Evercore Inc 6 35.7 80,666 3 9 5.8 29.9 Barclays PLC 7 17.3 23,728 6 29 0.6 16.7 Mizuho Financial Group Inc 7 10.8 24,415 84 13 4.3 6.5 Bank of America Merrill Lynch 8 10.4 14,213 10 6 7.9 2.5 Barclays PLC 8 7.4 16,600 3 31 0.5 6.8 Robey Warshaw LLP 9 7.7 10,500 1 - - 7.7 Raine Group LLC 9 7.1 16,000 1 - - 7.1 Nordea Bank AB 10 7.3 10,049 2 - - 7.3 Sumitomo Mitsui Financial Group Inc 10 6.3 14,215 111 6 12.0 -5.7 LionTree Advisors LLC 10 7.3 10,049 1 - - 7.3 Bank of America Merrill Lynch 11 3.4 7,713 5 8 7.4 -4.0 Deutsche Bank AG 12 6.5 8,916 9 3 14.2 -7.7 Deutsche Bank AG 12 2.7 6,034 3 22 1.4 1.3 Ernst & Young 13 6.4 8,820 14 7 7.5 -1.0 A&L Goodbody Solicitors 13 2.6 5,849 1 41 0.2 2.4 Moelis & Co 14 5.5 7,559 5 21 1.6 3.9 Development Bank of Japan Inc 14 2.3 5,099 7 33 0.4 1.8 RBC Capital Markets 15 5.4 7,428 6 11 6.2 -0.8 Daiwa Securities Group Inc 15 2.2 4,882 27 14 3.1 -0.9 Lazard Ltd 16 5.2 7,113 11 8 7.3 -2.1 Credit Suisse Group AG 16 1.5 3,397 6 4 15.8 -14.3 Credit Suisse Group AG 17 4.9 6,643 12 10 6.3 -1.4 Lazard Ltd 17 1.3 3,003 8 10 5.6 -4.2 Goetzpartners Corporate Finance GmbH 18 3.9 5,364 1 - - 3.9 Deloitte Touche Tohmatsu ILA Group Ltd 18 1.3 2,913 31 28 0.7 0.6 Gresham Partners Ltd 19 2.4 3,293 7 20 1.6 0.8 Rothschild & Co 19 1.2 2,663 3 24 1.1 0.1 Rothschild & Co 20 1.6 2,169 8 16 4.1 -2.5 UBS AG 20 0.9 1,922 3 17 2.2 -1.3 TOTAL 136,986 1,311 69,842 TOTAL 225,917 2,308 142,358

South Korea Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 China Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 2018 2017 2018 2017 MKT SHR VOLUME USD DEAL MKT SHR MKT SHR MKT SHR VOLUME USD DEAL MKT SHR MKT SHR FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE Morgan Stanley 1 8.5 6,105 4 2 23.5 -15.0 Morgan Stanley 1 12.1 51,890 16 2 11.4 0.7 JPMorgan Chase & Co 2 6.7 4,815 5 12 1.0 5.7 UBS AG 2 9.2 39,451 14 4 10.1 -0.9 Goldman Sachs & Co 3 6.4 4,586 3 1 26.7 -20.3 Banco Comercial Portugues SA 3 9.2 39,409 2 90 0.1 9.1 Credit Suisse Group AG 4 6.0 4,314 5 4 21.0 -14.9 China International Capital Corp Ltd 4 8.4 35,992 25 1 20.2 -11.9 Bank of America Merrill Lynch 5 5.6 3,997 2 7 4.6 1.0 Bank of America Merrill Lynch 5 7.9 33,744 6 9 6.8 1.1 UBS AG 6 5.1 3,661 2 20 0.3 4.8 Citigroup Inc 6 7.5 32,156 12 5 9.6 -2.1 Moelis & Co 7 4.3 3,100 2 - - 4.3 Lazard Ltd 7 7.3 31,475 9 37 0.5 6.8 Macquarie Group Ltd 8 3.9 2,762 1 - - 3.9 CITIC Securities Co Ltd 8 6.8 29,131 20 6 9.2 -2.5 Rothschild & Co 9 2.8 2,033 3 - - 2.8 JPMorgan Chase & Co 9 4.8 20,676 16 8 6.8 -2.0 Deutsche Bank AG 10 2.0 1,447 3 14 0.9 1.2 Deutsche Bank AG 10 4.5 19,502 7 23 1.3 3.3 Evercore Inc 11 1.9 1,325 2 - - 1.9 Goldman Sachs & Co 11 3.5 15,170 16 3 11.1 -7.5 Ernst & Young 12 1.4 1,031 11 6 10.9 -9.5 Rothschild & Co 12 3.2 13,540 10 21 1.4 1.8 Samsung Securities Co Ltd 13 1.2 835 3 11 1.0 0.1 CSC Financial Co Ltd 13 2.8 11,845 23 14 2.7 0.1 PricewaterhouseCoopers LLP 14 0.9 607 15 8 4.4 -3.6 Huatai Securities Co Ltd 14 2.5 10,849 22 28 0.9 1.6 BNP Paribas SA 15 0.8 561 1 26 0.1 0.7 Haitong Securities Co Ltd 15 1.8 7,893 8 15 2.3 -0.4 Duff & Phelps LLC 16 0.7 501 1 - - 0.7 Nomura Holdings Inc 16 1.5 6,495 6 31 0.8 0.7 Barclays PLC 17 0.7 500 1 - - 0.7 Sinolink Securities Co Ltd 17 1.1 4,749 6 95 0.1 1.1 RBC Capital Markets 18 0.7 488 1 - - 0.7 Changjiang Securities Co Ltd 18 1.1 4,589 1 - - 1.1 Citigroup Inc 19 0.7 483 2 22 0.2 0.5 Guotai Junan Securities Co Ltd 19 0.8 3,603 6 35 0.6 0.2 NH Investment & Securities Co Ltd 20 0.6 445 3 17 0.7 -0.1 Somerley Group Ltd 20 0.8 3,416 14 20 1.4 -0.6 TOTAL 71,675 1,321 94,476 TOTAL 429,300 4,119 475,388

13 Hong Kong Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 Taiwan Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 2018 2017 2018 2017 MKT SHR VOLUME USD DEAL MKT SHR MKT SHR MKT SHR VOLUME USD DEAL MKT SHR MKT SHR FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE JPMorgan Chase & Co 1 23.9 33,572 7 3 19.8 4.1 Goldman Sachs & Co LLC 1 20.6 2,851 4 1 14.7 6.0 Morgan Stanley 2 21.6 30,365 6 5 15.2 6.5 Citigroup Inc 2 5.9 817 2 12 0.5 5.4 Citigroup Inc 3 14.4 20,261 9 4 17.2 -2.8 Deloitte Touche Tohmatsu ILA Group Ltd 3 3.3 462 4 - - 3.3 Goldman Sachs & Co 4 11.9 16,655 5 1 25.5 -13.7 KGI Securities Co Ltd 4 1.9 268 4 7 6.1 -4.1 Macquarie Group Ltd 5 11.7 16,365 1 - - 11.7 Ernst & Young 5 1.1 156 2 - - 1.1 China International Capital Corp Ltd 6 11.6 16,238 4 8 11.6 0.0 Shenwan Hongyuan Group Co Ltd 6 0.6 88 1 - - 0.6 Moelis & Co 7 10.4 14,582 4 32 1.0 9.4 Yuanta Securities Co Ltd 7 0.5 74 2 8 3.5 -2.9 Deutsche Bank AG 8 10.4 14,580 4 29 1.2 9.2 Union Square Advisors LLC/NY 8 0.5 66 1 - - 0.5 LionTree Advisors LLC 9 10.1 14,149 1 - - 10.1 Cowen & Co LLC 9 0.3 45 1 - - 0.3 CITIC Securities Co Ltd 10 10.0 14,000 1 7 12.3 -2.3 Morgan Stanley 10 0.3 34 1 - - 0.3 Somerley Group Ltd 11 5.0 6,950 15 26 1.5 3.5 Mizuho Financial Group Inc 11 0.2 33 1 - - 0.2 Evercore Inc 12 3.7 5,124 5 6 12.5 -8.9 KAF Investment Bank Bhd 12 0.1 9 1 - - 0.1 Platinum Securities Co Ltd 13 3.3 4,636 3 16 2.9 0.4 KPMG Corporate Finance LLC 13 - - 1 4 9.0 -9.0 Gram Capital Ltd 14 2.7 3,721 10 23 1.6 1.0 China Renaissance Partners 15 2.1 2,905 3 54 0.2 1.8 UBS AG 16 2.1 2,899 7 2 22.9 -20.8 Nomura Holdings Inc 17 1.8 2,546 3 19 2.7 -0.9 Goldin Financial Holdings Ltd 18 1.6 2,306 3 33 1.0 0.7 Raymond James & Associates Inc 19 1.5 2,080 2 - - 1.5 Qatalyst Partners LLC 20 1.2 1,680 1 - - 1.2 TOTAL 140,481 1,083 153,003 TOTAL 13,834 140 11,207

SE Asia Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 India Announced Deals (Any Involvement) 01/01/2018 - 09/30/2018 2018 2017 2018 2017 MKT SHR VOLUME USD DEAL MKT SHR MKT SHR MKT SHR VOLUME USD DEAL MKT SHR MKT SHR FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE FIRM RANK (%) (Mln) COUNT RANK (%) CHANGE JPMorgan Chase & Co 1 30.3 51,722 8 2 23.4 6.8 JPMorgan Chase & Co 1 37.5 40,653 7 10 4.7 32.9 Citigroup Inc 2 23.6 40,260 11 3 17.3 6.3 Citigroup Inc 2 20.7 22,409 11 15 2.4 18.3 Morgan Stanley 3 21.0 35,831 11 1 24.5 -3.5 Goldman Sachs & Co 3 20.4 22,135 4 3 25.6 -5.2 Lazard Ltd 4 17.0 29,024 4 18 2.7 14.3 Barclays PLC 4 19.3 20,907 5 64 - 19.3 Evercore Inc 5 13.5 23,026 5 8 12.2 1.3 Morgan Stanley 5 16.7 18,045 4 1 29.1 -12.4 Bank of America Merrill Lynch 6 12.7 21,703 6 10 11.4 1.3 Deutsche Bank AG 6 16.4 17,725 6 12 2.5 13.9 Goldman Sachs & Co 7 12.3 20,983 8 4 15.5 -3.2 Raine Group LLC 7 15.0 16,264 2 - - 15.0 Centerview Partners LLC 8 10.0 17,000 1 94 - 10.0 CITIC Securities Co Ltd 8 12.9 14,000 1 - - 12.9 Canson Capital Partners 8 10.0 17,000 1 - - 10.0 China International Capital Corp Ltd 8 12.9 14,000 1 - - 12.9 Guggenheim Capital LLC 8 10.0 17,000 1 - - 10.0 Ernst & Young 10 12.1 13,115 29 11 4.0 8.1 TD Securities Inc 8 10.0 17,000 1 54 0.1 9.9 Arpwood Capital Pvt Ltd 11 8.2 8,839 8 - - 8.2 Deutsche Bank AG 12 9.8 16,674 6 12 5.9 3.9 JM Financial Ltd 12 6.7 7,249 4 19 0.8 5.9 China International Capital Corp Ltd 13 9.1 15,613 3 7 13.0 -3.9 Evercore Inc 13 5.3 5,768 4 - - 5.3 CITIC Securities Co Ltd 14 8.2 14,000 1 9 12.0 -3.8 Credit Suisse Group AG 14 5.3 5,709 4 27 0.4 4.9 HSBC Bank PLC 15 8.1 13,815 6 70 0.0 8.1 UBS AG 15 4.3 4,696 3 4 25.6 -21.3 Rothschild & Co 16 5.0 8,484 11 40 0.3 4.7 State Bank of India 16 4.2 4,574 1 - - 4.2 Societe Generale SA 17 3.3 5,634 1 - - 3.3 Bank of America Merrill Lynch 17 3.3 3,621 3 5 24.2 -20.9 Credit Agricole Corporate & Investment Bank 17 3.3 5,634 1 - - 3.3 Moelis & Co 18 2.5 2,691 2 47 0.0 2.5 Credit Suisse Group AG 19 3.2 5,513 11 16 3.2 0.1 Rothschild & Co 19 1.8 1,937 4 7 23.9 -22.1 Mizuho Financial Group Inc 20 2.7 4,623 8 94 - 2.7 Standard Chartered Bank 20 1.5 1,582 6 26 0.4 1.1 TOTAL 170,798 1,651 133,278 TOTAL 108,307 1,432 57,350

14 Bloomberg League Criteria

Announced Global League Tables are based upon announced total values, unless otherwise stated in the title. Non-US dollar values are converted to US dollars at the time of announcement.

Credit will be given to transactions in which Bloomberg classifies as mergers, acquisitions, divestitures, self-tenders, or spin-offs.

Regional and industry League Tables will be based on the country of risk and industry of the ultimate publicly traded parent of a privately held company where applicable.

Advisors to any member of an investor group, consortium, or joint venture are eligible for full credit.

Advisory fees hold no weight over advisory credit.

General Database Criteria

A transaction is considered to have been announced upon the release of terms offered by the acquirer, and acknowledgement of the offer by the target company.

Deals that are considered to be in proposed status will not be granted credit.

Full versions of Bloomberg’s League Tables Standards & Guidelines can be accessed on Bloomberg Professional:

{IDOC 2063961}: M&A

Bloomberg L.P. reserves the right of final decision concerning league eligibility and requires adequate documentation for the same. Bloomberg L.P. and its suppliers believe the information herein was obtained from reliable sources, but they do not guarantee its accuracy. Neither the information nor the opinion expressed constitutes a solicitation of the purchase or sale of securities or commodities. Due to the dynamic nature of the Professional Service product, League Table rankings may vary between the quarterly/year-end publications and data found on the Bloomberg Professional Service.