League Tables Q1 2020 Q1 2020

HONG KONG CAPITAL MARKETS LEAGUE TABLES Q1 2020 Q1 2020

MANAGER RANKINGS HONG KONG CAPITAL MARKETS

The Bloomberg Capital Markets Tables represent the top arrangers, bookrunners and advisors across a broad array of deal types including loans, bonds, equity and M&A transactions; according to Bloomberg standards.

LEAG for a full range of league tables

MA for a full range of merger & acquisition tables

NI LEAG CRL or http://www.bloomberg.com/ for a full range of market-specific league table publications

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 Equities Irene Huang +86 21 6104 3057 [email protected]

Fixed Income Dave Lin +852 2974 3196 [email protected]

Loans Soomi Oh +65 6231 3428 [email protected]

Hong Kong Dollar Bonds: Industry Breakdown

Hong Kong Dollar Bonds 8%

Q1 2020 Q1 2019 20% Mkt Volume (HKD Deal Prev Prev Mkt Mkt Share Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) HSBC 1 34.571 18,745 43 2 15.698 18.873 72% Mizuho Financial 2 14.234 7,718 14 4 7.677 6.557 Credit Agricole CIB 3 11.178 6,061 17 5 6.203 4.975 Citi 4 6.038 3,274 8 8 4.126 1.912 Mitsubishi UFJ Financial Group 5 4.963 2,691 6 11 2.044 2.919 Financials 72% Inc Government 20% Standard Chartered Bank 6 3.227 1,750 4 3 11.201 -7.974 Others 8% DBS Group 7 3.068 1,664 5 13 1.593 1.475 DZ Bank 8 2.398 1,300 2 - - 2.398 Commonwealth Bank Australia 9 2.099 1,138 4 7 4.551 -2.452 Hong Kong Dollar Bonds: Manager Rankings History Bank of China 10 1.770 960 3 6 4.727 -2.957 BNP Paribas 11 1.475 800 4 19 0.819 0.656 2020 2019 2018 35 Agricultural Bank of China 12 1.383 750 2 25 0.395 0.988 30 Deutsche Bank 12 1.383 750 3 29 0.356 1.027 ) % ( JP Morgan 12 1.383 750 2 16 1.043 0.340 e r

a 20 h S

NatWest Markets 15 1.199 650 2 20 0.662 0.537 t e k r Guotai Junan Securities 16 1.107 600 2 - - 1.107 a M 10 Scotiabank 16 1.107 600 3 9 4.059 -2.952 Xiamen International Bank 16 1.107 600 2 - - 1.107 0 l ti c k C ia IB i n n ANZ Banking Group 19 0.922 500 1 10 2.450 -1.528 B c C C I a S n p H a le u B n o o d i c r re F ri G e Goldman Sachs 20 0.778 422 1 31 0.166 0.612 o g l rt h A ia a u t c h z i n i d a C M re n rd C i a TOTAL 100% 54,222 121 100% F d J n F a U t i S h is b u s it This table consists of debt & preferred securities denominated in Hong Kong Dollars. This excludes asset-backed securities, bonds with warrants, M and convertible securities. There is a minimum threshold of 12 months for maturities, call or put periods and HKD 350MM minimum amount for self- led securities. Please see League Table Standards and Guidelines for further details.

Bloomberg League Table Reports Page 1 Bloomberg Hong Kong Capital Markets | Q1 2020

Offshore CNY Bonds: Industry Breakdown

Offshore CNY Bonds

Q1 2020 Q1 2019 42% Mkt Volume (CNY Deal Prev Prev Mkt Mkt Share Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) 58% HSBC 1 19.848 7,650 13 1 32.693 -12.845 Credit Agricole CIB 2 11.688 4,505 11 2 25.285 -13.597 Societe Generale 3 5.591 2,155 2 - - 5.591 Natixis 4 5.189 2,000 2 - - 5.189 Bank of China 5 4.605 1,775 4 - - 4.605 Government 58% Standard Chartered Bank 6 4.006 1,544 5 3 14.406 -10.400 Financials 42% BNP Paribas 7 3.892 1,500 2 5 2.407 1.485 Deutsche Bank 8 3.305 1,274 4 13 1.000 2.305 Nomura 9 3.028 1,167 2 - - 3.028 Offshore CNY Bonds: Manager Rankings History E.Sun Commercial Bank 10 2.866 1,104 6 - - 2.866 2020 2019 2018 Central Wealth Securities 11 2.724 1,050 1 - - 2.724 35 Investment Ltd 30 BofA Securities 12 2.594 1,000 1 - - 2.594 ) % (

Citi 12 2.594 1,000 1 - - 2.594 e r

a 20 h S

First Abu Dhabi Bank PJSC 12 2.594 1,000 1 20 0.556 2.038 t e k r Goldman Sachs 12 2.594 1,000 1 - - 2.594 a M 10 JP Morgan 12 2.594 1,000 1 - - 2.594 Landesbank Baden-Wuerttemberg 12 2.594 1,000 1 - - 2.594 0 e s a k C IB l i n n DBS Group 18 1.946 750 2 14 0.991 0.955 B C ra ix i a S e t h H le n a C B o e N f d c G o re ri k e TD Securities 18 1.946 750 2 12 1.111 0.835 g te n rt A ie a a it c B h d o C re S rd C a Mizuho Financial 20 1.720 663 5 7 1.407 0.313 d n ta TOTAL 100% 38,543 66 100% S

This table consists of Dim Sum & Formosa securities denominated in Chinese Renmimbi. This excludes asset-backed securities, bonds with warrants, credit linked notes and convertible securities. There is a minimum threshold of 12 months for maturities, call or put periods, and CNY 300MM minimum amount for self-led securities. Please see League Table Standards and Guidelines for further details.

Bloomberg League Table Reports Page 2 Bloomberg Hong Kong Capital Markets | Q1 2020

Offshore China Bonds: Industry Breakdown

Offshore China Bonds 14%

Q1 2020 Q1 2019 13% Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Bank of China 1 6.507 3,606 53 4 5.042 1.465 73% UBS 2 5.425 3,006 26 5 4.216 1.209 Credit Suisse 3 4.892 2,711 33 10 3.337 1.555 HSBC 4 4.304 2,385 45 1 6.512 -2.208 Industrial & Comm Bank of 5 3.894 2,158 38 17 2.528 1.366 Financials 73% China Industrials 13% Standard Chartered Bank 6 3.610 2,001 29 11 3.139 0.471 Others 14% BofA Securities 7 3.608 1,999 14 27 1.244 2.364 Haitong Securities 8 3.436 1,904 48 2 6.316 -2.880 China Citic Bank 9 3.394 1,881 40 7 3.646 -0.252 Offshore China Bonds: Manager Rankings History Guotai Junan Securities 10 3.263 1,808 50 8 3.492 -0.229 Bank of Communications 11 3.043 1,686 39 3 5.840 -2.797 2020 2019 2018 10 Credit Agricole CIB 12 2.723 1,509 19 13 3.082 -0.359 DBS Group 13 2.521 1,397 29 19 2.204 0.317 8 ) % ( TF International 14 2.493 1,382 9 - - 2.493 e

r 6 a h S

Barclays 15 2.456 1,361 24 37 0.626 1.830 t e

k 4 r China Construction Bank 16 2.373 1,315 37 18 2.369 0.004 a M

China Merchants Bank 17 2.301 1,275 41 16 2.566 -0.265 2 CITIC Securities 18 2.230 1,236 30 24 1.536 0.694 0 a e a k n S s C n n Deutsche Bank 19 2.163 1,199 13 12 3.127 -0.964 i B s B i a h U i S h B C u H C f S f d o it o re k d k e Citi 20 2.111 1,170 14 29 1.050 1.061 n e n rt a r a a B C B h C m rd m a TOTAL 100% 55,416 137 100% o d C n & ta l S ia tr s u d This table consists of debt & preferred securities issued by Chinese issuers in all currencies except CNY. This excludes asset-backed securities, In bonds with warrants, certificates of deposit, convertible securities, and credit-linked notes. There is a minimum threshold of 18 months for maturities and USD 100MM minimum amount issued. Please see League Table Standards and Guidelines for further details.

Bloomberg League Table Reports Page 3 Bloomberg Hong Kong Capital Markets | Q1 2020

Hong Kong Equity & Rights Offerings: Industry Breakdown

Hong Kong Equity & Rights Offerings 16%

Q1 2020 Q1 2019 13% 42% Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Morgan Stanley 1 39.482 2,770 9 2 16.643 22.839 30% HSBC 2 9.157 642 7 3 13.127 -3.970 Goldman Sachs 3 6.366 447 4 1 18.157 -11.791 Citi 4 5.010 351 1 14 2.081 2.929 BofA Securities 5 4.286 301 2 36 0.286 4.000 Financials 42% China International Capital Corp 6 4.096 287 7 8 2.593 1.503 Health Care 30% China Merchants Bank 7 3.584 251 8 19 0.842 2.742 Consumer Discretionary 13% UBS 8 2.930 206 3 6 3.274 -0.344 Others 16% Haitong Securities 9 2.906 204 12 13 2.134 0.772 Jefferies 10 1.773 124 1 - - 1.773 Guotai Junan Securities 11 1.568 110 7 5 5.188 -3.620 Hong Kong Equity & Rights Offerings: Manager Rankings CITIC Securities 12 1.384 97 1 16 1.150 0.234 History Bank of Communications 13 1.149 81 9 10 2.349 -1.200 China Merchants Securities 14 0.820 58 2 15 1.601 -0.781 2020 2019 2018 40 China Construction Bank 15 0.788 55 3 7 2.598 -1.810

Shanghai Pudong Development 16 0.787 55 5 48 0.187 0.600 30 ) % (

Bank e r a h

Get Nice Holdings Ltd 17 0.648 45 1 - - 0.648 S 20

t e k r

Zhongtai Securities 18 0.564 40 4 45 0.188 0.376 a M China Galaxy Financial Holdings 19 0.551 39 3 23 0.590 -0.039 10 Silk Road International Capital Ltd 20 0.483 34 3 35 0.312 0.171 0 i TOTAL 100% 7,016 80 100% y C s it s rp le B h C ie o n S c it C a a r l t H S u a S n c it n a e p a S a g m A C r ld f l o o o a M G B n o This table consists of equity & rights offerings syndicated in Hong Kong. This excludes self-led offerings. Please see League Table Standards and ti a rn te n Guidelines for further details. I a in h C

Bloomberg League Table Reports Page 4 Bloomberg Hong Kong Capital Markets | Q1 2020

Hong Kong Equity IPO: Industry Breakdown

Hong Kong Equity IPO 7%

Q1 2020 Q1 2019 11% 32% Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) 12% China Merchants Bank 1 12.895 234 6 17 1.933 10.962 16% 18% China International Capital Corp 2 10.005 181 5 2 5.958 4.047 Haitong Securities 3 5.468 99 11 7 4.903 0.565 Guotai Junan Securities 4 5.254 95 6 10 3.626 1.628 Morgan Stanley 5 4.545 82 1 1 9.894 -5.349 Consumer Discretionary 32% Bank of Communications 6 4.447 81 9 3 5.398 -0.951 Financials 18% China Merchants Securities 7 3.172 58 2 8 3.679 -0.507 Health Care 16% China Construction Bank 8 3.051 55 3 4 5.347 -2.296 Industrials 12% Shanghai Pudong Development 9 3.046 55 5 46 0.429 2.617 Communications 11% Bank Technology 7% Goldman Sachs 10 2.272 41 1 12 3.022 -0.750 Others 4% UBS 10 2.272 41 1 8 3.679 -1.407 China Galaxy Financial Holdings 12 2.133 39 3 22 1.357 0.776 Industrial Securities 13 1.851 34 4 20 1.537 0.314 Hong Kong Equity IPO: Manager Rankings History GF Securities 14 1.798 33 2 - - 1.798

Zhongtai Securities 15 1.710 31 3 42 0.433 1.277 2020 2019 2018 China Minsheng Banking Corp 16 1.675 30 4 - - 1.675 15 Glam Capital Ltd 17 1.499 27 5 - - 1.499 )

% 10 AMTD Global Markets Ltd 18 1.393 25 2 11 3.270 -1.877 (

e r a Guosen Securities 19 1.374 25 3 - - 1.374 h S

t e k r

Bank of China 20 1.327 24 1 16 2.095 -0.768 a 5 M TOTAL 100% 1,813 37 100%

0 This table consists of Initial Public Offerings syndicated in Hong Kong. This excludes self-led offerings. Please see League Table Standards and k rp s s y s n o ie ie le n a C it it n io B l r r a t s a u u t a Guidelines for further details. t it c c S ic n p e e n n a a S S a u h C g n g m rc l n a r e a o n o m n it u M o M o a J C a ti H i f in a ta o h rn o k C te u n n G a I B a in h C

Bloomberg League Table Reports Page 5 Bloomberg Hong Kong Capital Markets | Q1 2020

Hong Kong Equity Offerings: Industry Breakdown

Hong Kong Equity Offerings 12%

5% Q1 2020 Q1 2019 37% Mkt Volume (USD Deal Prev Prev Mkt Mkt Share 13% Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Morgan Stanley 1 40.385 2,770 9 2 16.763 23.622 HSBC 2 9.127 626 6 3 13.222 -4.095 33% Goldman Sachs 3 6.512 447 4 1 18.288 -11.776 Citi 4 5.124 351 1 14 2.096 3.028 BofA Securities 5 4.384 301 2 35 0.288 4.096 Financials 37% China International Capital Corp 6 4.189 287 7 7 2.612 1.577 Health Care 33% China Merchants Bank 7 3.426 235 7 19 0.848 2.578 Consumer Discretionary 13% UBS 8 2.997 206 3 6 3.298 -0.301 Communications 5% Haitong Securities 9 2.972 204 12 13 2.149 0.823 Others 12% Jefferies 10 1.813 124 1 - - 1.813 CITIC Securities 11 1.416 97 1 16 1.158 0.258 Guotai Junan Securities 12 1.389 95 6 5 5.225 -3.836 Hong Kong Equity Offerings: Manager Rankings History Bank of Communications 13 1.176 81 9 9 2.366 -1.190 China Merchants Securities 14 0.839 58 2 15 1.613 -0.774 2020 2019 2018 45

China Construction Bank 15 0.807 55 3 10 2.344 -1.537 40 Shanghai Pudong Development 16 0.805 55 5 47 0.188 0.617 )

% 30 (

Bank e r a h

China Galaxy Financial Holdings 17 0.564 39 3 23 0.595 -0.031 S

e 20 k r

Industrial Securities 18 0.489 34 4 21 0.674 -0.185 a M Credit Suisse 19 0.477 33 1 4 6.185 -5.708 10 GF Securities 20 0.475 33 2 - - 0.475 0 i TOTAL 100% 6,859 71 100% y C s it s rp le B h C ie o n S c it C a a r l t H S u a S n c it n a e p a S a g m A C r ld f l o o o a M G B n o This table consists of equity offerings syndicated in Hong Kong. This excludes rights offerings, and self-led offerings. Please see League Table ti a rn te n Standards and Guidelines for further details. I a in h C

Bloomberg League Table Reports Page 6 Bloomberg Hong Kong Capital Markets | Q1 2020

Hong Kong/Macau Loans (Bookrunner): Industry Breakdown Hong Kong/Macau Loans (Bookrunner)

12% Q1 2020 Q1 2019 6%

Mkt Volume (USD Deal Prev Prev Mkt Mkt Share 6% Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) 8% China Merchants Bank 1 15.520 2,355 7 19 2.191 13.329 68% Bank of China 2 10.701 1,624 9 3 5.967 4.734 HSBC 3 8.967 1,361 12 1 10.020 -1.053 Standard Chartered Bank 4 6.094 925 6 2 9.384 -3.290 Shanghai Pudong Development 5 5.560 844 5 33 0.702 4.858 Financials 68% Bank Consumer Staples 8% China Construction Bank 6 5.333 809 6 17 2.446 2.887 Materials 6% DBS Group 7 5.144 781 4 6 4.449 0.695 Communications 6% Mizuho Financial 8 4.767 723 5 4 5.179 -0.412 Others 12% Industrial & Comm Bank of China 9 4.642 704 5 7 3.571 1.071 Bank of Communications 10 3.277 497 3 16 2.587 0.690 Sumitomo Mitsui Financial 11 3.269 496 3 12 2.998 0.271 Hong Kong/Macau Loans: Bookrunner Rankings History JP Morgan 12 2.030 308 3 23 1.823 0.207 Agricultural Bank of China 13 1.832 278 2 15 2.620 -0.788 2020 2019 2018 20 Bank of East Asia 14 1.706 259 2 25 1.715 -0.009 China Minsheng Banking Corp 15 1.365 207 2 27 1.548 -0.183 15 ) % (

Deutsche Bank 15 1.365 207 2 5 4.650 -3.285 e r a h

China Cinda Asset Management 17 1.359 206 2 21 1.829 -0.470 S 10

t e k r

BofA Securities 18 1.214 184 2 23 1.823 -0.609 a M Citi 18 1.214 184 2 9 3.008 -1.794 5 Goldman Sachs 18 1.214 184 2 - - 1.214 0 k a C k k k TOTAL 100% 15,176 27 100% n in B n n n a h S a a a B C B B B s f H d t n t o e n o n r e ti a k te m c h n r p u rc a a o tr e B h l s C e n M d v o This table consists of loans with a market of syndication as Hong Kong or Macau. This excludes bilateral loans. Please see League Table a r e C n a D i d g a h n n in C ta o h d Standards and Guidelines for further details. S u C P i a h g n a h S

Bloomberg League Table Reports Page 7 Bloomberg Hong Kong Capital Markets | Q1 2020

Hong Kong/Macau Loans (Mandated Lead Arranger): Industry Breakdown Hong Kong/Macau Loans (Mandated Lead Arranger)

12% Q1 2020 Q1 2019 6%

Mkt Volume (USD Deal Prev Prev Mkt Mkt Share 6% Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) 8% HSBC 1 8.819 1,810 24 3 6.763 2.056 68% Bank of China 2 7.854 1,612 14 1 7.938 -0.084 DBS Group 3 6.010 1,233 10 2 6.928 -0.918 China Merchants Bank 4 5.243 1,076 11 20 1.758 3.485 Shanghai Pudong Development 5 4.840 993 12 19 1.818 3.022 Financials 68% Bank Consumer Staples 8% China Construction Bank 6 4.284 879 12 14 2.571 1.713 Materials 6% Industrial & Comm Bank of China 7 4.004 822 7 4 5.904 -1.900 Communications 6% Mizuho Financial 8 3.775 775 9 8 4.164 -0.389 Others 12% Standard Chartered Bank 9 3.762 772 10 7 4.276 -0.514 Bank of Communications 10 3.407 699 9 5 5.487 -2.080 Oversea-Chinese Banking Corp 11 3.346 687 7 13 2.600 0.746 Hong Kong/Macau Loans: Mandated Lead Arranger BofA Securities 12 3.076 631 5 32 0.733 2.343 Rankings History China Minsheng Banking Corp 13 2.913 598 6 10 3.273 -0.360 China Everbright Bank 14 2.344 481 6 40 0.480 1.864 2020 2019 2018 10 Chong Hing Bank 15 2.202 452 6 22 1.456 0.746

China Citic Bank 16 2.184 448 6 36 0.726 1.458 8 ) % (

Agricultural Bank of China 17 2.118 435 5 6 5.125 -3.007 e

r 6 a h

Sumitomo Mitsui Financial 18 2.081 427 4 12 2.786 -0.705 S

t e

k 4 r

China Cinda Asset Management 19 1.868 383 4 16 2.436 -0.568 a M

Scotiabank 20 1.730 355 2 - - 1.730 2 TOTAL 100% 20,524 41 100% 0 C a p k k k B in u n n n S h ro a a a C G B B B H f s t n o S t n o This table consists of loans with a market of syndication as Hong Kong or Macau. This excludes bilateral loans. Please see League Table B n e ti k a m c n D h p u a rc o tr B e l s e n Standards and Guidelines for further details. M v o a e C n D i g a h n in C o h d u C P i a h g n a h S

Bloomberg League Table Reports Page 8 Bloomberg Hong Kong Capital Markets | Q1 2020

Hong Kong Borrower Loans (Bookrunner): Industry Breakdown Hong Kong Borrower Loans (Bookrunner) 6% 3%

Q1 2020 Q1 2019 6%

Mkt Volume (HKD Deal Prev Prev Mkt Mkt Share 11% Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) China Merchants Bank 1 15.436 9,867 4 23 1.811 13.625

Bank of China 2 12.559 8,027 7 12 3.675 8.884 75% Standard Chartered Bank 3 7.896 5,047 3 2 6.637 1.259 DBS Group 4 7.292 4,661 3 3 6.208 1.084 Mizuho Financial 5 6.606 4,222 3 6 5.354 1.252 Financials 75% Bank of Communications 6 6.059 3,873 3 12 3.675 2.384 Communications 11% Industrial & Comm Bank of China 6 6.059 3,873 3 8 4.499 1.560 Industrials 6% Sumitomo Mitsui Financial 8 5.148 3,291 2 5 5.383 -0.235 Utilities 6% HSBC 9 4.126 2,637 4 1 9.351 -5.225 Others 3% China Construction Bank 10 3.248 2,076 2 18 2.308 0.940 Shanghai Pudong Development 10 3.248 2,076 2 24 1.368 1.880 Bank Hong Kong Borrower Loans: Bookrunner Rankings History BofA Securities 12 2.240 1,431 2 - - 2.240 Citi 12 2.240 1,431 2 18 2.308 -0.068 2020 2019 2018 20 Goldman Sachs 12 2.240 1,431 2 - - 2.240 JP Morgan 12 2.240 1,431 2 - - 2.240 15 ) % (

Chong Hing Bank 16 1.887 1,206 2 12 3.675 -1.788 e r a h

Samsung Securities Co Ltd 17 1.862 1,190 1 - - 1.862 S 10

t e k r

Agricultural Bank of China 18 1.104 706 1 22 2.191 -1.087 a M China Cinda Asset Management 18 1.104 706 1 17 3.077 -1.973 5 China Citic Bank 18 1.104 706 1 - - 1.104 0 k a k p l s a TOTAL 100% 63,919 11 100% n n n u ia n n a i a o c o i B h B r n ti h C G a a C ts f d n c f n o re S i i o a k e B F n k h n rt D o u n c a a h m a r B h u m B e C iz o M m rd M C This table consists of loans with borrowers that have a country of risk as Hong Kong and with a market of syndication in the APAC region. This a a f m in d o o h n k C C a n t a & excludes bilateral loans. Please see League Table Standards and Guidelines for further details. S B l ia tr s u d In

Bloomberg League Table Reports Page 9 Bloomberg Hong Kong Capital Markets | Q1 2020

Hong Kong Borrower Loans (Mandated Lead Arranger): Industry Breakdown Hong Kong Borrower Loans (Mandated Lead Arranger) 6% 3%

Q1 2020 Q1 2019 6%

Mkt Volume (HKD Deal Prev Prev Mkt Mkt Share 11% Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Bank of China 1 10.003 8,808 10 5 5.033 4.970

HSBC 2 8.273 7,285 12 1 6.978 1.295 75% DBS Group 3 6.830 6,015 6 2 6.844 -0.014 Industrial & Comm Bank of China 4 6.052 5,329 5 7 4.855 1.197 China Merchants Bank 5 5.633 4,960 5 23 1.504 4.129 Financials 75% Bank of Communications 6 4.819 4,244 7 9 4.487 0.332 Communications 11% BofA Securities 7 4.687 4,127 4 - - 4.687 Industrials 6% Oversea-Chinese Banking Corp 8 4.302 3,788 4 4 5.105 -0.803 Utilities 6% Shanghai Pudong Development 9 3.951 3,480 5 18 2.667 1.284 Others 3% Bank Standard Chartered Bank 10 3.667 3,229 4 12 3.661 0.006 Mizuho Financial 11 3.518 3,098 3 3 5.888 -2.370 Hong Kong Borrower Loans: Mandated Lead Arranger Sumitomo Mitsui Financial 12 3.130 2,756 3 6 4.899 -1.769 Rankings History Scotiabank 13 3.128 2,755 2 - - 3.128 Chong Hing Bank 14 3.010 2,650 4 15 3.105 -0.095 2020 2019 2018 15 China Construction Bank 15 2.823 2,486 5 14 3.226 -0.403 China Citic Bank 16 2.192 1,930 4 35 0.294 1.898 )

% 10 (

China Everbright Bank 17 2.027 1,785 3 - - 2.027 e r a h

Morgan Stanley 18 1.962 1,728 1 - - 1.962 S

t e k r

China Minsheng Banking Corp 19 1.781 1,568 2 26 1.294 0.487 a 5 M Samsung Securities Co Ltd 20 1.351 1,190 1 - - 1.351 TOTAL 100% 88,060 20 100% 0 a p a k s n C u n n n i B o i a o h S r h B ti C H G C a f f ts c o S o n i This table consists of loans with borrowers that have a country of risk as Hong Kong and with a market of syndication in the APAC region. This k B k a n n D n h u a a c m B B r m e o excludes bilateral loans. Please see League Table Standards and Guidelines for further details. m M C m a f o in o C h k C n & a l B ia tr s u d In

Bloomberg League Table Reports Page 10 Bloomberg – League Tables Criteria

General Guidelines

Credit is based on the total amount of the offering sold to the public. Full credit is awarded to the sole bookrunning manager or split equally among joint bookrunning managers; unless full, explicit breakdown of bookrunning is provided by an involved party. Regional and local tables are identified based on factors such as currency, market of issuer and/or country of risk/incorporation.

Fixed Income

All transactions must have a maturity/call/put option of minimum 18 months. Make-whole call and provisional call/put are exempted from this rule. Note: Criteria may vary for some local and/or regional tables. USD denominated 144A/REG S issues are credited 100% to the 144A tranche and 0% to the REG S tranche. Non-USD denominated 144A/REG S issues are credited 100% to the REG S tranche and 0% to the 144A tranche. Self- led transactions are included. New money portions of exchange offers are eligible for credit.

Exclusions: Accredited investor tranches, asset-backed issues, auction note agencies, collateralized bond obligations, collateralized loan obligations, commercial paper, municipal bonds, mortgage-backed issues, remarketed issues, repackaged bonds, government borrowing scheme retained bonds, variable principal redemption issues, variable interest equity-linked issues, and credit linked notes, selling group agency issues, strips, units, warrants, self-led under USD 50 million. Note: Criteria may vary for some local and/or regional tables.

Equities-Linked

Equity-linked transactions: Convertible bonds, convertible preferred stock and exchangeable bonds. Only issues that mature and are callable/ puttable in 12 months or longer are included. Make-whole call, provisional call and provisional put are exempted from this rule. Convertible bonds with attached warrants are included. These are defined as synthetic convertibles with the combination of a fixed income instrument and warrants which can be converted into shares. The embedded warrant can be detachable or non-detachable but the bond and the warrant must be sold as a unit, i.e. there cannot be separate book building for the warrant and the bond.

Exclusions: Redemption-linked instruments, reverse convertibles or similar instruments, synthetics convertibles, issues convertible into participation in an underlying fund or investment trust, pre-IPO convertible instruments, certain lower hierarchy titles, i.e. Jr Bookrunner.

Equities

Equity market transactions: Initial public offerings, additional offerings of common stocks, units, and depositary receipts (ADRs, GDRs, etc) and rights offerings.

Exclusions: Non-underwritten/best efforts, privately placed transactions, funds, self-led, preferred offerings, pre-negotiated offerings, certain lower hierarchy titles, i.e. Jr Bookrunner. Note: Criteria may vary for some local and/or regional tables.

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. Bloomberg – League Tables Criteria

Loans

Includes executed syndicated loans transactions. Full credit is awarded to the banks satisfying the highest of the titles. Full credit is awarded to the sole bookrunning manager or split equally among joint bookrunning managers. Credit is allocated to amended or amended and restated transactions, where each modification is 100% at the lender’s option and not as a result of events already built into the original credit agreement. Credit is awarded for the following structural changes only: maturity extensions of three months or more, incremental basis for increased in deal size, reduction in pricing, full release of security.

Exclusions: Bilateral transactions, transactions with a maturity of less than three months, loans withdrawn prior to signing, amended or restated securitizations, receivable and guarantee facilities.

US Municipals

Standard published tables will award deal credit based on true economic credit as reported by the issuer or the bookrunner. In absence of reported economic credit, 100% will be assigned to the bookrunner.

Dollar value of credit will be assigned based on the percentage allocation reported for economic credit (or designated by the user in a custom table) and applied against the total par value of the bonds issued. Zero coupon bonds (CABS) or intermediate appreciation bonds (convertible CABs) will be included at the market value (accreted value) on the interest accrual date.

All debt issued by municipal issuers will be eligible for league credit. Taxable and tax-exempt debt is eligible for league credit unless a table includes specific tax type criteria. “Tax-exempt” is defined as federally tax-exempt and includes bonds subject to AMT and bonds designated as Bank Qualified.

Each table is provided in three formats. “Economic Credit” displays rankings based on true economic credit allocations of applicable deals. “Left Lead” assigns 100% credit to the bookrunner and 0% to all other syndicate participants. “Deal Count” displays rankings based on deal quantity rather than aggregate economic credit amounts. A “deal” refers to the aggregate series within an issuance led by a particular underwriter or syndicate. For example: a $50 million issuance is split into three series- a $10 million Series A, a $20 million Series B, and a $20 million Series C. Bank 1 is the underwriter of Series A & B, while Bank 2 is the underwriter of Series C. Bank 1 would have one “deal” worth $30 million, and Bank 2 would have one “deal” worth $20 million.

Exclusions: Derivatives, private placements, variable rate preferred securities, municipal commercial paper, and remarketings are excluded from municipal league table eligibility.

The full version of Bloomberg’s League table Standards & Guidelines can be accessed and subscribed to on the Reports tab on LEAG.