Global Private Equity Legal Advisor Review

FULL YEAR 2020 | LEGAL ADVISORS Global Private Equity Review Full Year 2020 | Legal Advisors

Global Deals Intelligence Global Venture Capital Activity

$80 3500 WORLDWIDE VENTURE CAPITAL ACTIVITY REACHES A RECORD US$238 BILLION Worldwide venture capital activity totaled US$238 billion in 2020, an 11% increase from 2019 and the $70 strongest annual total for venture capital on record. By number of transactions, volumes totaled 11,582, a 5% 3000 uptick compared to 2019. The average venture capital investment during the period was US$20.5 million per transaction, up from US$19.5 million a year ago. $60 2500 WORLDWIDE BUYOUTS & RELATED ROUNDS SEE US$462 BILLION IN ROUND VALUES $50 Global buyout and related transactions reached US$462 billion across 5,886 rounds in 2020, the third most active year in dollar terms and up 8% compared to 2019. Volumes were down 3% from the previous year. 2000 However, this remained the second most active annual period on record after the 6,079 rounds in 2019. The $40 fourth quarter alone saw US$161.9 billion invested across 1,812 rounds, resulting in year-on-year value and 1500 volume increases of 46% and 12%, respectively. $30

PRIVATE EQUITY-BACKED SHARE OF GLOBAL M&A REACHES 16% 1000 Global M&A activity totaled US$3.6 trillion from more than 50,000 deals during 2020, down 5% from 2019 $20 values and the lowest annual total since US$3.3 trillion in 2017. Total private equity-backed M&A during the 500 period was US$589.5 billion, or 16% of global M&A, from 9,145 rounds. By percentage of global M&A $10 dealmaking, PE-backed transactions were up from a 13% share last year and at their highest allotment since the 18% share seen in 2006. $0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2015 2016 2017 2018 2019 2020 Sum of Round Value (US$bil) Number of Rounds

Global Private Equity Investment - Industry Composition Global Buyout & Related Activity

Venture Capital 2020 Investment (US$bil) Buyout & Related 2020 Investment (US$bil) $180 2000

$160 1800

$30.8 $60.6 1600 $140 13% 13% 1400 $8.0 $120 3% $83.7 $160.8 Computer Software Computer Software 1200 $14.8 35% 35% $56.4 Internet Specific Communications $100 6% 12% Biotechnology Financial Services 1000 $80 Medical/Health Industrial/Energy $19.5 800 8% Transportation Internet Specific $60 Consumer Related Business Serv. $56.3 600 Other 12% Other $40 $27.2 400 11% $39.1 8% $46.7 $20 200 $53.7 $42.4 10% 23% 9% $0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2015 2016 2017 2018 2019 2020 Sum of Round Value (US$bil) Number of Rounds

An LSEG Business Global Rankings Full Year 2020 | Private Equity & Venture Capital | Legal Advisors

Advisors to Company: All Rounds Advisors to Company: Venture Capital Rounds Advisors to Company: LBO & Related Rounds Based on Round Value Based on Round Value Based on Round Value Rank Rank Round Value # of Rank Rank Round Value # of Rank Rank Round Value # of Legal Advisor to Company 2020 2019 (US$mil) Rounds Legal Advisor to Company 2020 2019 (US$mil) Rounds Legal Advisor to Company 2020 2019 (US$mil) Rounds Latham & Watkins 1 4 32,491 183 Wilson Sonsini Goodrich & Rosati 1 1 12,699 340 Davis Polk & Wardwell 1 61 30,372 10 Davis Polk & Wardwell 2 62 30,372 10 Goodwin Procter LLP 2 2 11,136 236 Kirkland & Ellis 2 2 26,442 193 Kirkland & Ellis 3 2 26,834 197 Latham & Watkins 3 3 9,053 80 Skadden 3 6 24,380 15 Skadden 4 9 26,830 17 4 12 2,684 11 Latham & Watkins 4 4 23,438 103 AZB & Partners 5 45 21,338 27 Skadden 5 - 2,450 2 AZB & Partners 5 44 21,038 20 Wilson Sonsini Goodrich & Rosati 6 5 19,828 365 Shearman & Sterling LLP 6 - 1,674 18 Paul, Weiss 6 10 19,466 11 Cleary Gottlieb Steen & Hamilton 7 26 19,612 19 Pillsbury Winthrop Shaw Pitt LLP 7 7 1,125 18 Cleary Gottlieb Steen & Hamilton 7 22 19,385 16 Paul, Weiss 8 12 19,466 11 DLA Piper LLP 8 5 678 28 Greenberg Traurig 8 31 18,629 19 Greenberg Traurig 9 33 18,655 20 Fenwick & West LLP 9 43 650 6 Baker Botts LLP 9 39 11,944 5 Goodwin Procter LLP 10 8 17,492 331 Osler Hoskin & Harcourt LLP 10 6 634 48 Sullivan & Cromwell 10 3 11,826 10 Baker Botts LLP 11 42 11,944 5 Jones Day 11 10 620 17 Garrison & Garrison (IL) 11 35 11,300 2 Sullivan & Cromwell 12 3 11,826 11 Dechert 12 49 510 11 Cyril Amarchand Mangaldas 12 109 10,032 11 Garrison & Garrison (IL) 13 37 11,300 2 Baker Mckenzie 13 31 436 4 DLA Piper LLP 13 8 9,906 56 DLA Piper LLP 14 6 10,583 84 White & Case LLP 14 - 430 2 J Sagar Associates 14 96 9,476 3 Cyril Amarchand Mangaldas 15 82 10,316 22 Kirkland & Ellis 15 125* 392 4 Simpson Thacher & Bartlett 15 1 8,878 36 J Sagar Associates 16 98 9,613 8 Morgan Lewis & Bockius 16 29 392 11 16 16 8,717 17 Simpson Thacher & Bartlett 17 1 9,028 38 McGuireWoods LLP 17 55 388 2 Seyfarth Shaw LLP 17 155* 8,100 1 Clifford Chance 18 19 8,932 18 Dorsey & Whitney LLP 18 69 332 4 Morgan Lewis & Bockius 18 89 8,060 37 Hogan Lovells 19 50 8,861 25 Orrick Herrington & Sutcliffe LLP 19 4 310 6 Blake Cassels & Graydon 19 19 8,010 18 Morgan Lewis & Bockius 20 89 8,452 48 Fasken Martineau DuMoulin LLP 20 9 305 20 Khaitan & Co 20 59 7,585 16 Seyfarth Shaw LLP 21 231* 8,100 1 AZB & Partners 21 28 300 7 Weil Gotshal & Manges 21 63 7,280 20 Blake Cassels & Graydon 22 22 8,053 25 Cyril Amarchand Mangaldas 22 11 283 11 Wilson Sonsini Goodrich & Rosati 22 42 7,129 25 Khaitan & Co 23 53 7,726 26 Morrison & Foerster 23 20 283 7 Allen & Overy 23 21 6,710 7 Weil Gotshal & Manges 24 56 7,280 20 Allen & Gledhill 24 - 278 9 Goodwin Procter LLP 24 48 6,357 94 Allen & Overy 25 24 6,710 8 Cooley LLP 25 - 262 6 Hogan Lovells 25 51 6,177 14 Industry Total 362,904 2988 Industry Total 48,546 1049 Industry Total 314,358 1939

Advisors to Firm: All Rounds Advisors to Firm: Venture Capital Rounds Advisors to Firm: LBO & Related Rounds Based on Round Value Based on Round Value Based on Round Value Rank Rank Round Value # of Rank Rank Round Value # of Rank Rank Round Value # of Legal Advisor to Firm 2020 2019 (US$mil) Rounds Legal Advisor to Firm 2020 2019 (US$mil) Rounds Legal Advisor to Firm 2020 2019 (US$mil) Rounds Simpson Thacher & Bartlett 1 3 84,900 65 Goodwin Procter LLP 1 1 19,918 362 Simpson Thacher & Bartlett 1 3 84,860 64 Kirkland & Ellis 2 1 80,569 277 Sidley Austin LLP 2 16 6,702 49 Kirkland & Ellis 2 1 76,439 264 Latham & Watkins 3 2 65,119 226 Wilson Sonsini Goodrich & Rosati 3 6 6,484 162 Latham & Watkins 3 2 60,940 142 Paul, Weiss 4 24 35,074 28 Jones Day 4 9 5,517 41 Paul, Weiss 4 24 35,064 27 Willkie Farr & Gallagher 5 38 29,987 89 Latham & Watkins 5 3 4,179 84 Willkie Farr & Gallagher 5 45 28,557 58 Weil Gotshal & Manges 6 6 28,621 41 Kirkland & Ellis 6 14 4,130 13 Weil Gotshal & Manges 6 5 26,998 32 Skadden 7 30 25,729 21 Morgan Lewis & Bockius 7 26 3,466 20 Skadden 7 26 25,627 20 Goodwin Procter LLP 8 5 24,842 439 Ropes & Gray 8 20 2,358 3 Blake Cassels & Graydon 8 56 23,501 19 Blake Cassels & Graydon 9 59 23,561 25 Hogan Lovells 9 5 2,001 19 White & Case LLP 9 6 22,451 23 Cleary Gottlieb Steen & Hamilton 10 18* 23,468 17 Cleary Gottlieb Steen & Hamilton 10 - 1,780 2 Cleary Gottlieb Steen & Hamilton 10 16* 21,688 15 White & Case LLP 11 7 22,902 26 AZB & Partners 11 8 1,759 16 Davis Polk & Wardwell 11 12 20,686 22 Davis Polk & Wardwell 12 14 20,791 25 Fried Frank Harris Shriver & Jacobson 12 18 1,702 3 Stikeman Elliott 12 58 20,483 12 Stikeman Elliott 13 61 20,483 13 Clifford Chance 13 17 1,630 8 Fried Frank Harris Shriver & Jacobson 13 21 16,084 13 Sidley Austin LLP 14 4 19,769 97 Weil Gotshal & Manges 14 48 1,623 9 Baker Mckenzie 14 11 14,345 27 Fried Frank Harris Shriver & Jacobson 15 22 17,786 17 Khaitan & Co 15 19 1,464 30 Ropes & Gray 15 10 14,076 98 Ropes & Gray 16 13 16,434 101 Willkie Farr & Gallagher 16 7 1,430 31 Gibson Dunn & Crutcher 16 9 13,635 41 Baker Mckenzie 17 10 15,685 44 Baker Mckenzie 17 10 1,340 17 Sidley Austin LLP 17 4 13,068 48 Gibson Dunn & Crutcher 18 11 14,118 44 DLA Piper LLP 18 4 1,268 59 18 22 12,345 33 Morgan Lewis & Bockius 19 55 14,012 50 Pillsbury Winthrop Shaw Pitt LLP 19 32 1,186 24 Debevoise & Plimpton 19 48 11,865 22 Debevoise & Plimpton 20 53 12,529 25 Cyril Amarchand Mangaldas 20 13 1,164 22 Morgan Lewis & Bockius 20 55 10,546 30 Linklaters 21 23 12,524 38 Mayer Brown LLP 21 - 1,025 8 McCarthy Tetrault 21 15 9,883 14 Clifford Chance 22 8 10,190 39 Shearman & Sterling LLP 22 - 850 22 Vinson & Elkins LLP 22 41 9,178 6 McCarthy Tetrault 23 17 9,898 15 Paul Hastings LLP 23 - 683 5 Dechert 23 14 8,887 29 Dechert 24 16 9,370 36 Debevoise & Plimpton 24 - 664 2 Clifford Chance 24 7 8,560 30 AZB & Partners 25 35 9,223 43 Orrick Herrington & Sutcliffe LLP 25 2 569 4 Sullivan & Cromwell 25 25 8,428 17 Industry Total 436,800 3029 Industry Total 61,927 1211 Industry Total 374,874 1818 *Indicates a Tie

An LSEG Business Global Rankings Full Year 2020 | Private Equity & Venture Capital | Legal Advisors

Advisors to Company: All Rounds Advisors to Company: Venture Capital Rounds Advisors to Company: LBO & Related Rounds Based on Number of Rounds Based on Number of Rounds Based on Number of Rounds Rank Rank Round Value # of Rank Rank Round Value # of Rank Rank Round Value # of Legal Advisor to Company 2020 2019 (US$mil) Rounds Legal Advisor to Company 2020 2019 (US$mil) Rounds Legal Advisor to Company 2020 2019 (US$mil) Rounds Wilson Sonsini Goodrich & Rosati 1 1 19,828 365 Wilson Sonsini Goodrich & Rosati 1 1 12,699 340 Kirkland & Ellis 1 1 26,442 193 Goodwin Procter LLP 2 2 17,492 331 Goodwin Procter LLP 2 2 11,136 236 Latham & Watkins 2 5* 23,438 103 Kirkland & Ellis 3 4 26,834 197 Latham & Watkins 3 5 9,053 80 Goodwin Procter LLP 3 4 6,357 94 Latham & Watkins 4 5 32,491 183 Osler Hoskin & Harcourt LLP 4 6 634 48 Willkie Farr & Gallagher 4 5* 1,067 65 DLA Piper LLP 5 3 10,583 84 DLA Piper LLP 5 3 678 28 McDermott Will & Emery 5* 9 117 59 Jones Day 6 13 4,516 72 Fasken Martineau DuMoulin LLP 6 7 305 20 McGuireWoods LLP 5* 5* 0 59 Willkie Farr & Gallagher 7 9 1,067 65 Shearman & Sterling LLP 7* - 1,674 18 DLA Piper LLP 7 2 9,906 56 McGuireWoods LLP 8 8 388 61 Pillsbury Winthrop Shaw Pitt LLP 7* 18* 1,125 18 Jones Day 8 10 3,896 55 McDermott Will & Emery 9 11* 125 60 Jones Day 9 15 620 17 Baker Mckenzie 9 18 4,641 40 Osler Hoskin & Harcourt LLP 10 10 1,270 56 Freehills 10 24* 85 14 Honigman LLP 10* 3 371 38 Morgan Lewis & Bockius 11 14 8,452 48 11 16* 27 13 Alston & Bird 10* 21 240 38 Fasken Martineau DuMoulin LLP 12 16* 2,738 45 Hogan Lovells 12* 12* 2,684 11 Morgan Lewis & Bockius 12 11 8,060 37 Baker Mckenzie 13 16* 5,077 44 Dechert 12* 46* 510 11 Simpson Thacher & Bartlett 13 12 8,878 36 Simpson Thacher & Bartlett 14* 15 9,028 38 Morgan Lewis & Bockius 12* 16* 392 11 Paul Hastings LLP 14 24* 2,273 31 Honigman LLP 14* 6 371 38 Cyril Amarchand Mangaldas 12* 9* 283 11 Gibson Dunn & Crutcher 15 32* 482 29 Alston & Bird 14* 28* 240 38 Khaitan & Co 16 11 141 10 Sidley Austin LLP 16* 15 5,350 27 Dechert 17 34* 1,101 36 Allen & Gledhill 17 - 278 9 Ropes & Gray 16* 19 5,100 27 Paul Hastings LLP 18 32 2,502 35 18 18* 139 8 Wilson Sonsini Goodrich & Rosati 18* 22 7,129 25 LLP 19 42* 182 32 AZB & Partners 19* 12* 300 7 Fasken Martineau DuMoulin LLP 18* 60* 2,433 25 Gibson Dunn & Crutcher 20 37* 625 31 Morrison & Foerster 19* 18* 283 7 Dechert 18* 28* 591 25 Sidley Austin LLP 21* 20 5,474 30 Squire Patton Boggs LLP 19* 46* 47 7 Bass Berry & Sims PLC 18* 128* 575 25 Shearman & Sterling LLP 21* 87* 3,025 30 Blake Cassels & Graydon 19* 24* 43 7 Squire Patton Boggs LLP 18* 39* 135 25 Ropes & Gray 23 24* 5,226 28 Fenwick & West LLP 23* 29* 650 6 Giordano, Halleran & Ciesla 23 - 0 22 AZB & Partners 24* 27 21,338 27 Orrick Herrington & Sutcliffe LLP 23* 4 310 6 AZB & Partners 24* 28* 21,038 20 Bass Berry & Sims PLC 24* 141* 608 27 Cooley LLP 23* - 262 6 Weil Gotshal & Manges 24* 32* 7,280 20 Industry Total 362,904 2988 Industry Total 48,546 1049 Industry Total 314,358 1939

Advisors to Firm: All Rounds Advisors to Firm: Venture Capital Rounds Advisors to Firm: LBO & Related Rounds Based on Number of Rounds Based on Number of Rounds Based on Number of Rounds Rank Rank Round Value # of Rank Rank Round Value # of Rank Rank Round Value # of Legal Advisor to Firm 2020 2019 (US$mil) Rounds Legal Advisor to Firm 2020 2019 (US$mil) Rounds Legal Advisor to Firm 2020 2019 (US$mil) Rounds Goodwin Procter LLP 1 1 24,842 439 Goodwin Procter LLP 1 1 19,918 362 Kirkland & Ellis 1 1 76,439 264 Kirkland & Ellis 2 3 80,569 277 Wilson Sonsini Goodrich & Rosati 2 3 6,484 162 Latham & Watkins 2 2 60,940 142 Latham & Watkins 3 4 65,119 226 Latham & Watkins 3 4 4,179 84 Ropes & Gray 3 7 14,076 98 Wilson Sonsini Goodrich & Rosati 4 5 6,764 166 DLA Piper LLP 4 2 1,268 59 Goodwin Procter LLP 4 3 4,924 77 DLA Piper LLP 5 2 3,513 109 Sidley Austin LLP 5 18* 6,702 49 Simpson Thacher & Bartlett 5 6 84,860 64 Jones Day 6 17* 6,574 102 Jones Day 6 15 5,517 41 Jones Day 6 19* 1,058 61 Ropes & Gray 7 13 16,434 101 Dentons 7 13* 203 35 Willkie Farr & Gallagher 7 12 28,557 58 Sidley Austin LLP 8 15 19,769 97 Willkie Farr & Gallagher 8 7 1,430 31 DLA Piper LLP 8 4 2,245 50 Willkie Farr & Gallagher 9 8 29,987 89 Khaitan & Co 9 11* 1,464 30 Sidley Austin LLP 9 10* 13,068 48 Simpson Thacher & Bartlett 10 11* 84,900 65 Osler Hoskin & Harcourt LLP 10 8 511 25 McGuireWoods LLP 10 8 88 43 Morgan Lewis & Bockius 11 19* 14,012 50 Pillsbury Winthrop Shaw Pitt LLP 11 29* 1,186 24 Gibson Dunn & Crutcher 11 16 13,635 41 McDermott Will & Emery 12 6* 631 48 Cyril Amarchand Mangaldas 12* 10 1,164 22 McDermott Will & Emery 12 5 181 40 McGuireWoods LLP 13 9 138 47 Shearman & Sterling LLP 12* - 850 22 Paul Hastings LLP 13 26 6,420 34 Khaitan & Co 14 33* 5,064 46 Morgan Lewis & Bockius 14 20* 3,466 20 Linklaters 14 13* 12,345 33 Baker Mckenzie 15* 16 15,685 44 Hogan Lovells 15 6 2,001 19 Weil Gotshal & Manges 15 13* 26,998 32 Gibson Dunn & Crutcher 15* 24* 14,118 44 Baker Mckenzie 16 13* 1,340 17 Morgan Lewis & Bockius 16* 19* 10,546 30 AZB & Partners 17 14 9,223 43 AZB & Partners 17 9 1,759 16 Clifford Chance 16* 9 8,560 30 Weil Gotshal & Manges 18 19* 28,621 41 Tatva Legal 18 22* 141 14 Dechert 18 30* 8,887 29 Clifford Chance 19* 11* 10,190 39 Kirkland & Ellis 19 20* 4,130 13 Paul, Weiss 19* 19* 35,064 27 Paul Hastings LLP 19* 32 7,104 39 Cobalt 20 18* 15 11 Baker Mckenzie 19* 18 14,345 27 Dentons 19* 33* 207 39 Osborne Clarke 21 67* 224 10 AZB & Partners 19* 13* 7,464 27 Linklaters 22* 22 12,524 38 Weil Gotshal & Manges 22* 38* 1,623 9 White & Case LLP 22 23* 22,451 23 Hogan Lovells 22* 6* 4,890 38 22* 38* 369 9 Davis Polk & Wardwell 23* 23* 20,686 22 Dechert 24* 36* 9,370 36 Debevoise & Plimpton 23* 41* 11,865 22 Osler Hoskin & Harcourt LLP 24* 17* 5,782 36 Mayer Brown LLP 23* 41* 3,868 22 Industry Total 436,800 3029 Industry Total 61,927 1211 Industry Total 374,874 1818 *Indicates a Tie

An LSEG Business Regional Rankings Full Year 2020 | Private Equity & Venture Capital | Legal Advisors

Advisors to Company: Americas Advisors Advisors to Company: Europe Advisors Advisors to Company: Asia Pacific Advisors All Rounds: Based on Round Value All Rounds: Based on Round Value All Rounds: Based on Round Value Rank Round Value # of Advisor Rank Round Value # of Advisor Rank Round Value # of Advisor Legal Advisor to Company 2020 (US$mil) Rounds Nation Legal Advisor to Company 2020 (US$mil) Rounds Nation Legal Advisor to Company 2020 (US$mil) Rounds Nation Latham & Watkins 1 32,491 183 US Clifford Chance 1 8,932 18 UK AZB & Partners 1 21,338 27 IN Davis Polk & Wardwell 2 30,372 10 US Hogan Lovells 2 8,861 25 UK Cyril Amarchand Mangaldas 2 10,316 22 IN Kirkland & Ellis 3 26,834 197 US Allen & Overy 3 6,710 8 UK J Sagar Associates 3 9,613 8 IN Skadden 4 26,830 17 US Legance Avvocati Associati 4 5,372 3 IT Khaitan & Co 4 7,726 26 IN Wilson Sonsini Goodrich & Rosati 5 19,828 365 US 5 3,900 1 UK Millbank Advisory 5 1,000 1 AU Cleary Gottlieb Steen & Hamilton 6 19,612 19 US Jeausserand SELARL 6 3,500 3 FR Nakamura, Tsunoda & Matsumoto 6 836 1 JP Paul, Weiss 7 19,466 11 US Herbert Smith Freehills 7 3,339 24 UK Kitahama Partners 7 786 1 JP Greenberg Traurig 8 18,655 20 US Ashurst 8 2,376 2 UK Nagashima Ohno & Tsunematsu 8 738 2 JP Goodwin Procter LLP 9 17,492 331 US Gianni Origoni Grippo Cappelli & Partners 9 2,077 4 IT Nishimura & Asahi 9 710 1 JP Baker Botts LLP 10 11,944 5 US Tremonti Vitali Romagnoli Piccardi e Associati 10 1,996 1 IT Platinum Partners 10 500 1 IN Sullivan & Cromwell 11 11,826 11 US Osborne Clarke 11 1,932 18 UK Kim & Chang 11 435 1 SK Garrison & Garrison (IL) 12 11,300 2 US 12 1,876 9 UK Gadens Lawyers 12 327 1 AU DLA Piper LLP 13 10,583 84 US Accinni, Cartolano & Associati Studio Legale 13 1,832 1 IT Allen & Gledhill 13 278 9 SG Simpson Thacher & Bartlett 14 9,028 38 US Bonelli Erede e Pappalardo 14 1,242 3 IT Mori Hamada & Matsumoto 14 187 1 JP Morgan Lewis & Bockius 15 8,452 48 US Freshfields Bruckhaus Deringer 15 1,093 6 UK Krishnamurthy & Co 15 130 4 IN Seyfarth Shaw LLP 16 8,100 1 US Gorrissen & Federspiel 16 930 1 DK Jerome Merchant + Partners 16 30 1 IN Blake Cassels & Graydon 17 8,053 25 CA Arthur Cox 17 654 2 UK Veritas Legal 17 19 3 IN Weil Gotshal & Manges 18 7,280 20 US 18 576 14 UK S&R Associates 18 18 1 IN Sidley Austin LLP 19 5,474 30 US Uria Menendez 19 422 2 SP Nishith Desai Associates 19 16 1 IN Ropes & Gray 20 5,226 28 US CMS 20 253 5 UK DSK Legal 20 8 1 IN Schulte Roth & Zabel LLP 21 5,150 3 US De Brauw Blackstone Westbroek 21 212 3 NL Stratage Law Partners 21 5 1 IN Baker Mckenzie 22 5,077 44 US Advokatfirmaet Grette DA 22 165 1 NO Acuity Law 22 1 1 IN Jones Day 23 4,516 72 US Gowling WLG 23 148 7 UK Debevoise & Plimpton 24 4,400 13 US Homburger 24 110 2 CH Stikeman Elliott 25 4,387 17 CA 25 88 8 UK Americas Advisor Totals 315,675 2,593 Europe Advisor Totals 62,965 318 Asia Pacific Advisor Totals 49,831 134

Advisors to Firm: Americas Advisors Advisors to Firm: Europe Advisors Advisors to Firm: Asia Pacific Advisors All Rounds: Based on Round Value All Rounds: Based on Round Value All Rounds: Based on Round Value Rank Round Value # of Advisor Rank Round Value # of Advisor Rank Round Value # of Advisor Legal Advisor to Firm 2020 (US$mil) Rounds Nation Legal Advisor to Firm 2020 (US$mil) Rounds Nation Legal Advisor to Firm 2020 (US$mil) Rounds Nation Simpson Thacher & Bartlett 1 84,900 65 US Linklaters 1 12,524 38 UK AZB & Partners 1 9,223 43 IN Kirkland & Ellis 2 80,569 277 US Clifford Chance 2 10,190 39 UK Cyril Amarchand Mangaldas 2 8,303 30 IN Latham & Watkins 3 65,119 226 US Freshfields Bruckhaus Deringer 3 8,401 9 UK Khaitan & Co 3 5,064 46 IN Paul, Weiss 4 35,074 28 US Hogan Lovells 4 4,890 38 UK J Sagar Associates 4 5,042 11 IN Willkie Farr & Gallagher 5 29,987 89 US Allen & Overy 5 4,686 8 UK King & Wood Mallesons 5 4,300 2 HK Weil Gotshal & Manges 6 28,621 41 US Gatti Pavesi Bianchi 6 1,915 5 IT Gilbert + Tobin 6 3,336 5 AU Skadden 7 25,729 21 US Clifford-Turner 7 1,891 1 UK Shardul Amarchand Mangaldas & Co 7 2,870 5 IN Goodwin Procter LLP 8 24,842 439 US Gattai Minoli Agostinelli & Partners 8* 1,832 4 IT Nishimura & Asahi 8 1,800 3 JP Blake Cassels & Graydon 9 23,561 25 CA Pirola, Pennuto, Zei & Associati 8* 1,832 1 IT Trilegal 9 718 2 IN Cleary Gottlieb Steen & Hamilton 10 23,468 17 US Dickson Minto 10 1,486 1 UK Mori Hamada & Matsumoto 10 710 2 JP White & Case LLP 11 22,902 26 US Herbert Smith Freehills 11 931 21 UK Nagashima Ohno & Tsunematsu 11 556 10 JP Davis Polk & Wardwell 12 20,791 25 US Accura Advokataktieselskab 12 930 1 DK Veritas Legal 12 422 9 IN Stikeman Elliott 13 20,483 13 CA M&P Bernitsas Law Office 13 716 2 GR Chapman Tripp 13 386 1 NZ Sidley Austin LLP 14 19,769 97 US A&L Goodbody 14 715 3 IE Allen & Gledhill 14 370 9 SG Fried Frank Harris Shriver & Jacobson 15 17,786 17 US Chiomenti Studio Legal 15 430 10 IT L&L Partners 15 267 2 IN Ropes & Gray 16 16,434 101 US Osborne Clarke 16 386 20 UK S&R Associates 16 246 6 IN Baker Mckenzie 17 15,685 44 US Edge Avocats SELARL 17 294 1 FR Jingtian & Gongcheng 17 200 1 CN Gibson Dunn & Crutcher 18 14,118 44 US Ashurst 18 264 6 UK Tatva Legal 18 141 14 IN Morgan Lewis & Bockius 19 14,012 50 US Cuatrecasas 19 255 5 SP HHP Attorneys-at-Law 19 100 1 CN Debevoise & Plimpton 20 12,529 25 US P+P Pollath + Partners 20 180 1 DE Anderson Mori & Tomotsune 20 66 2 JP McCarthy Tetrault 21 9,898 15 CA Aabo-Evensen & Co Advokatfirma AS 21 165 1 NO Delphi Partners Pty Ltd 21 47 1 AU Dechert 22 9,370 36 US Gide Loyrette Nouel 22 159 2 FR Krishnamurthy & Co 22 29 6 IN Vinson & Elkins LLP 23 9,178 6 US Roschier 23 156 1 FN Jerome Merchant + Partners 23 29 4 IN Sullivan & Cromwell 24 8,428 20 US Noerr LLP 24 125 3 DE Stratage Law Partners 24 5 1 IN Paul Hastings LLP 25 7,104 39 US Legance Avvocati Associati 25 122 4 IT Americas Advisor Totals 393,506 2,527 Europe Advisor Totals 47,636 408 Asia Pacific Advisor Totals 39,539 217 *Indicates a Tie

An LSEG Business Global Rankings Full Year 2020 | Private Equity & Venture Capital | Legal Advisors

If you would like to participate in the League Tables include all Private Equity (PE) and Venture Capital (VC) rounds completed in the 2020 calendar year that are el igible for the Refinitiv database. The submission process, receive quarterly Refinitiv PE database tracks PE and VC investments made by venture capital firms, buyout firms, generalist firms, angel inves tor networks, Small Business Investment press releases, or have questions Companies (SBICs), venture subsidiaries of corporations or investment banks and other similar entities whose primary activity is PE or VC investment. Investments are about our full league table criteria tracked by their completion or disbursement dates. The data included in the Global Private Equity Review was collected from a variety of sources including regulatory please contact: filings, press releases, Refinitiv PE and M&A databases, and contributed submissions from venture capital firms, buyout firms , generalist firms, and law firms. All data is as of March 8th, 2021. UNITED STATES Gavin Penny Venture Capital League tables include eligible seed, early stage, expansion stage, and later stage equity investment (common stock) rounds. Refinitiv begins tracking Tel: 416-687-7577 rounds at the first investment from a venture capital firm and tracks all subsequent equity financing rounds. Angel, incubato r and similar investments are considered E-mail: [email protected] pre-venture financing if the company has received no prior qualifying venture capital investment, and are not included in the re port.

Merissa Selts Buyout and PE Related League tables include eligible PE backed add -on acquisitions, leveraged buyouts, management buyouts, management buy-ins, secondary Tel: 646-223-8415 buyouts, recapitalization and turnaround financing, mezzanine, secondary purchases, open market purchases, PIPEs, and bridge loans. Round Value for Buyout and E-mail: [email protected] Related PE Rounds include equity and debt financing, when applicable, for each eligible round.

CANADA / EMEA Rounds with undisclosed dollar values are included in the Refinitiv PE/VC League Tables and count towards the total number of rounds count. Non-US dollar Greg Beaman denominated transactions are converted to the US dollar equivalent based on the completion or disbursement date. Tel: 647-500-4586 [email protected] Legal advisors are ranked based on their provision of legal advisory services to either the company or the firm and are award ed full League Table credit for each advised investment round (i.e. credit is not “split”). ASIA PACIFIC Antoinette Reyes Regional rankings are determined by the location of the legal advisor headquarter s. Total figures are the aggregates of the round dollar values and number of round Tel: +63(2)-8459-1647 counts assigned to advisors headquartered within each applicable region, irrespective of the location of each target company or investor firm. [email protected] While Refinitiv has used reasonable endeavors to ensure that the information provided in this document is accurate and up to date as at the time of issue, neither Refinitiv nor its third party content providers shall be liable for any errors, inaccuracies or delays in the information, no r for any actions taken in reliance thereon, nor does it endorse any views or opinions of any third party content provider. Refinitiv disclaims all warranties, express or imp lied, as to the accuracy or completeness of any of the content provided, or as to the fitness of the content for any purpose to the extent permitted by law. The content herein is not appropriate for the purposes of making a decision to carry out a transaction or trade and does not provide any form of advice (investment, tax, legal) amount ing to investment advice, nor make any recommendations or solicitations regarding particular financial instruments, investments or products, including the buying or selling of securities. Refinitiv has not undertaken any liability or obligation relating to the purchase or sale of securities for or by any person in connection with this document.

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