Baird is an employee-owned, international fi nancial services fi rm with $ billion in BairdFacts client assets. We provide private , institutional asset management, September 2017 , and capital markets services to clients through our offi ces in the United States, Europe and Asia. As employee-owners, we manage for the long term, continuously building capabilities to best serve clients. And we conservatively manage our balance sheet and capital position to maintain fi nancial fl exibility in all types of market conditions.

$ 18 8 billion 100 Best ×14 3,400 employees No.1 Assets in Client Accounts A Great Place to Work Global Perspective Overall Quality Baird’s clients trust us with $ For  consecutive years, Baird has Baird has more than , employees In 2017, small-cap and mid-cap billion in assets as of June , . been recognized as one of Fortune’s and over 100 locations in the United institutional fund managers ranked  Best Companies to Work For®. States, Europe and Asia. Baird No. 1 overall for combined quality in sales, corporate access and research.1 in , our fourth consecutive year in the No. top  and ninth straight 4 year in the top .

History Revenues Founded in , headquartered in , Wisconsin.  revenues were $. billion,2 a firm record.

Member NYSE Baird Foundation Robert W. Baird & Co. has been a member of the New York Stock Exchange since . Baird Foundation gave $. million to qualified nonprofits in .

Ownership Senior Executives Baird is employee-owned, privately held and independent. Approximately two-thirds Steven G. Booth, President & Chief Executive Officer of our employees own Baird stock. Paul E. Purcell, Chairman Baird’s five complementary businesses help diversify and balance revenue through all types Structured of market conditions. Our structure and independence give us the financial strength to make ongoing investments in the professional expertise and distinctive culture that make Baird a for Your trusted partner for individuals, municipalities, corporations and institutions across the United Success States, Europe and Asia.

Private Wealth Asset Baird Fixed Income Equity Capital Management Management Capital Capital Markets Markets Baird Advisors Global Private Equity (US, UK, China) Fixed Income Sales and Trading Institutional Equities & Research Baird Equity Asset Management U.S. Public Finance Global Investment Banking

Baird’s Private Wealth Management Baird’s fixed income and equity Baird Capital makes venture Baird’s Fixed Income Sales and Baird’s Institutional Equities & professionals provide comprehensive portfolio managers offer disciplined capital, growth equity and buyout Trading team provides investment Research team provides research, wealth management strategies investing and outstanding service to investments in lower middle-market ideas and trade execution for U.S. sales and trading expertise to and solutions for high-net-worth institutional investors and individuals companies in the Industrial institutional clients. Our Public institutional investors around the individuals and their families across through customized portfolios and Solutions, Technology & Services Finance professionals offer debt globe. Our Global Investment the United States. mutual funds. and Healthcare sectors. underwriting and advisory services Banking group provides M&A, • Investments made in more than 300 to clients in the public, private and debt advisory, and equity and • Approximately 860 Financial Advisors • $54.1 billion in fixed income debt financing services to middle- investments managed by portfolio companies since inception nonprofit sectors. • More than 85 in-house specialists 3 market companies. provide advice for all aspects of Baird Advisors • 55 investment, operating and • More than 150 institutional sales, wealth management, retirement • $4.1 billion in equity investments support professionals in the trading and analytics professionals • Approximately 710 companies under United States, Europe and Asia planning, charitable giving and managed by our Growth, Value, Core, • Approximately 50 Public Finance research coverage wealth transfer International, Global and Specialized • Dedicated global resources to help bankers and analysts • 295 banking professionals serving • Serves clients coast-to-coast from Asset Management teams in Baird portfolio companies accelerate growth clients globally Equity Asset Management3 • Ranked No. 1 nationally for 90 locations in 29 states • Active portfolio companies competitive issues by number of • Advised on approximately 175 • Barron’s Top Wealth Management • Minority interests in RiverFront have combined annual revenues issues and No. 1 underwriter for financing and advisory transactions Firms list, 2007–2017 Investment Group and Greenhouse of $2.1 billion and more than qualified deals, based on in 2016 with a total value of more Funds LP 12,700 employees number of issues and par amount than $40 billion • A Best Place to Work in Money for the first half of 2017, according • Arranged more than 21,000 Management among firms our size to Ipreo MuniAnalytics company–investor connections in for five consecutive years according 2016 via company visits, one-on-one to Pensions & Investments, 2016 meetings and management trips to institutional clients

for knowledge $ billion $ billion $ billion municipal bond of industries and in PWM in assets under raised and No. underwriter No. companies in 126 client assets3 58 management 3.4 managed 1nationwide4 1Greenwich survey1

Robert W. Baird & Co. Incorporated. Please visit our website at rwbaird.com for important information and disclosures. 1Greenwich Associates U.S. Equity Investors – Small-/Mid-Cap Funds, May 2017. Survey conducted with 101 small-cap and “Baird” is the marketing name for Robert W. Baird & Co. Incorporated and its subsidiaries and affiliates worldwide. mid-cap fund managers. Rankings for qualitative metrics based on leading research firms in survey. Robert W. Baird Limited (RWBL) and Baird Capital Partners Europe Limited (BCPE) are authorized and regulated 2Financial results do not reflect the consolidation of certain private equity partnerships. in the U.K. by the Financial Conduct Authority (registered numbers are 124308 and 150154, respectively). ³Assets as of June 30, 2017. RWBL and BCPE have approved this information for distribution in the U.K. and Europe. 4Based on number of issues each year since 2009, according to Ipreo MuniAnalytics and . To learn more, call 800-79-BAIRD in the United States or +44 (0)20 7488 1212 in Europe, or visit us online at rwbaird.com.

©2017 Robert W. Baird & Co. Incorporated. Member SIPC. First use: 9/17. MC-82302. #1200.27+