GLOBAL EQUITY CAPITAL MARKET LEAGUE TABLES

1st 3Q 2015 1st 3Q 2015

MANAGER RANKINGS GLOBAL EQUITY, EQUITY LINKED & RIGHTS

CONTENTS Bloomberg’s global equity offerings database consists of nearly 87,000 deals (with approximately 43,000 IPOs and over 43,000 additional offerings), and coverage of more than 500 financial advisors 1. Global market review and 500 legal advisors. 2. US market review LEAG for a full range of league tables 3. Canada market review IPO for Bloomberg’s equity offerings product 4. Latin America market review 5. EMEA market review Due to the dynamic nature of the Professional Service product, league table rankings may vary between this release 6. Asia market review and data found on the Bloomberg Professional Service. 7. Table criteria

DATA SUBMISSIONS AND QUERIES

Contact Phone Email North America Elizabeth Entrup +1 646 324 4666 [email protected] Irina Arefyeva +1 646 324 4663 [email protected] EMEA Karan Aswani +44 20 3525 4331 [email protected] Asia Pacific Felishya Yusa +65 6499 2679 [email protected]

© 2015 Bloomberg Finance L.P. All rights reserved.

Global Equity, Equity Linked & Rights: Industry Breakdown

Financials 35% Global Equity Review Health Care 12% 11% 1st 3Q 2015 credited Global Equity, Equity Linked & Rights volume decreased 5.83% to USD 600.9 Bln while deal Consumer Discretionary 11% 8% count decreased 1.54% to 3,188 offerings year-on-year. Global Equity IPO volume decreased 30.68% year-on- 35% Energy 8% year to USD 125.3 Bln while the deal count increased 11.47% to 923. Global Equity Linked volume decreased 8% 20.71% year-on-year to USD 64.3 Bln over 259 deals. Industrials 8% Goldman Sachs ranked as the top Global Equity, Equity Linked & Rights underwriter for 1st 3Q 2015 with 9.62% 8% Technology 8%

market share. The bank underwrote 254 deals over the period. Morgan Stanley and JP Morgan ranked second 8% 12% Communications 8% and third with 8.47% and 8.46% market share, respectively. 11% Others 11%

Global Equity, Equity Linked & Rights: Highlights of 1st 3Q 2015

Top Underwriter Issuer Industry Deal Size (USD Mln) Date Banco Santander SA Financials 8,872 01/09/2015 Goldman Sachs Actavis plc Health Care 5,060 02/25/2015 Number of deals 254 Huatai Securities Co Ltd Financials 5,000 05/22/2015 Volume (USD Mln) 57,800 Global Equity, Equity Linked & Rights: Industry Breakdown Guotai Junan Securities Co Ltd Financials 4,842 06/16/2015 Avg Deal size (USD Mln) 227.6 Aena SA Industrials 4,822 02/10/2015 Industry Volume (USD Mln) % Of Total % YOY Change National Australia Bank Ltd Financials 4,359 05/20/2015 Market Summary Financials 225,596 34.7% -3.8% Haitong Securities Co Ltd Financials 4,247 05/28/2015 Number of deals 3,188 Health Care 78,389 12.1% 70.5% Actavis plc Health Care 4,180 02/25/2015 Volume (USD Mln) 600,942 Consumer Discretionary 73,339 11.3% -33.4% GF Securities Co Ltd Financials 4,138 03/31/2015 Avg Deal size (USD Mln) 188.5 Energy 53,777 8.3% -26.3% Telefonica Brasil SA Communications 3,885 04/29/2015 Industrials 49,018 7.5% -21.9% Technology 48,838 7.5% -4.1% Communications 48,810 7.5% 9.5% Global Equity, Equity Linked & Rights: Quarterly Volume Materials 29,698 4.6% -6.5% Utilities 22,970 3.5% -8.1% Consumer Staples 18,833 2.9% -33.9% Deal Count Rights Equity-Linked IPO Global Equity | 1st 3Q 2015 Add'l 400 1,800

1,500 300 Global Equity, Equity Linked & Rights: Offering Breakdown

Deal Count Deal Count Offering Type Volume (USD Mln) % Of Total % YOY Change 1,000 200 Additional Offerings 384,067 58.5% 14.1% USD BlnUSD Bln

IPO 126,416 19.8% -32.4% Bloomberg Equity-Linked 85,604 13.4% -16.2% 500 100 Rights Offerings 53,577 8.4% -40.0%

0 0

Q3 2010 Q3 2011 Q3 2012 Q3 2013 Q3 2014 Q3 2015

Quarters

1 Global Equity, Equity Linked & Rights Global Equity & Equity Linked 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014

Mkt Volume (USD Deal Mkt Volume (USD Firm Rank Share(%) Mln) Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Goldman Sachs 1 9.62 57,800 254 1 9.38 0.24 Goldman Sachs 1 9.64 53,833 245 1 9.62 0.02 Morgan Stanley 2 8.47 50,898 294 3 8.26 0.21 Morgan Stanley 2 8.39 46,868 284 3 8.36 0.03 JP Morgan 3 8.46 50,838 304 2 8.60 -0.14 JP Morgan 3 8.39 46,847 287 2 8.39 0.00 UBS 4 6.93 41,631 187 7 5.67 1.26 UBS 4 6.59 36,826 173 8 5.56 1.03 Bank of America Merrill 5 6.47 38,901 251 5 7.31 -0.84 Bank of America Merrill 5 6.46 36,059 242 5 7.45 -0.99 Lynch Lynch Citi 6 5.69 34,223 229 4 7.78 -2.09 Citi 6 5.92 33,046 223 4 8.02 -2.10 Credit Suisse 7 5.49 33,003 223 8 5.55 -0.06 Credit Suisse 7 5.56 31,035 209 7 5.89 -0.33 Deutsche Bank 8 5.19 31,163 180 6 6.53 -1.34 Deutsche Bank 8 5.30 29,604 172 6 6.75 -1.45

Barclays 9 4.16 25,016 167 9 4.31 -0.15 Barclays 9 4.24 23,705 163 9 4.27 -0.03 5 RBC Capital Markets 10 2.03 12,177 135 10 2.31 -0.28 RBC Capital Markets 10 2.18 12,177 135 10 2.46 -0.28 1 0 Wells Fargo 11 1.71 10,275 102 13 1.47 0.24 Wells Fargo 11 1.84 10,275 102 12 1.61 0.23 2

Nomura 12 1.68 10,091 98 11 1.84 -0.16 Nomura 12 1.78 9,945 96 11 1.90 -0.12

HSBC 13 1.40 8,387 54 12 1.81 -0.41 HSBC 13 1.40 7,814 49 13 1.48 -0.08 Q

Macquarie 14 1.36 8,175 57 20 0.78 0.58 Jefferies 14 1.28 7,157 117 14 1.11 0.17 3

Jefferies 15 1.19 7,157 117 14 1.10 0.09 Macquarie 15 1.05 5,869 50 19 0.83 0.22 t Societe Generale 16 1.08 6,466 35 15 1.04 0.04 Societe Generale 16 0.93 5,192 32 17 0.87 0.06 s 1

BNP Paribas 17 1.04 6,253 39 16 0.85 0.19 BMO Capital Markets 17 0.88 4,915 58 15 0.92 -0.04 |

BMO Capital Markets 18 0.82 4,924 59 18 0.84 -0.02 BNP Paribas 18 0.86 4,802 31 22 0.72 0.14 y

Mizuho Financial 19 0.77 4,624 42 28 0.41 0.36 Mizuho Financial 19 0.83 4,624 42 27 0.45 0.38 t i

CITIC Securities Co Ltd 20 0.73 4,379 29 26 0.45 0.28 CITIC Securities Co Ltd 20 0.75 4,210 26 26 0.47 0.28 u

TOTAL 100% 600,942 3,188 100% TOTAL 100% 558,502 3,014 100% q E

Global Equity Offerings Global Equity IPO l a 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014 b o

Mkt Volume (USD Deal Mkt Volume (USD l Firm Rank Share(%) Mln) Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) G

Goldman Sachs 1 10.38 51,312 225 1 9.45 0.93 Morgan Stanley 1 6.60 8,273 54 1 9.34 -2.74

Morgan Stanley 2 8.66 42,787 256 3 8.17 0.49 JP Morgan 2 4.92 6,169 54 3 8.40 -3.48 JP Morgan 3 7.55 37,337 249 4 7.98 -0.43 Goldman Sachs 3 4.86 6,087 58 2 8.92 -4.06 UBS 4 7.25 35,840 165 8 5.95 1.30 Deutsche Bank 4 4.71 5,908 46 4 7.78 -3.07 g r Bank of America Merrill 5 6.16 30,442 214 5 7.35 -1.19 Citi 5 4.67 5,848 55 6 6.37 -1.70 e Lynch UBS 6 4.63 5,804 36 7 4.86 -0.23 b Citi 6 6.01 29,696 207 2 8.49 -2.48 Bank of America Merrill 7 4.46 5,594 56 8 4.23 0.23

Credit Suisse 7 5.65 27,911 194 7 6.06 -0.41 Lynch m Deutsche Bank 8 5.21 25,726 159 6 7.03 -1.82 Credit Suisse 8 2.81 3,518 47 5 7.34 -4.53 o Barclays 9 3.93 19,405 147 9 4.28 -0.35 HSBC 9 2.69 3,369 19 10 1.71 0.98 o

RBC Capital Markets 10 2.09 10,344 122 10 2.20 -0.11 Barclays 10 2.44 3,053 31 9 3.17 -0.73 l

Nomura 11 1.47 7,277 80 11 1.55 -0.08 CITIC Securities Co Ltd 11 1.66 2,080 14 18 1.14 0.52 B Wells Fargo 12 1.43 7,046 90 12 1.54 -0.11 Everbright Securities Co 12 1.63 2,040 6 98 0.08 1.55 Jefferies 13 1.30 6,401 108 14 1.14 0.16 Ping An Insurance Group Co 13 1.60 2,003 19 164 0.03 1.57 HSBC 14 1.25 6,199 37 13 1.21 0.04 Huatai Securities Co Ltd 14 1.42 1,784 8 49 0.26 1.16 Macquarie 15 1.11 5,509 45 17 0.91 0.20 Jefferies 15 1.40 1,756 29 11 1.65 -0.25 CITIC Securities Co Ltd 16 0.85 4,210 26 25 0.53 0.32 RBC Capital Markets 16 1.35 1,696 27 17 1.15 0.20 BMO Capital Markets 17 0.80 3,957 50 15 1.01 -0.21 Banco Santander 17 1.25 1,562 7 60 0.18 1.07 Societe Generale 18 0.76 3,762 22 23 0.58 0.18 China Merchants Securities 18 1.18 1,483 14 20 0.71 0.47 Sumitomo Mitsui Financial 19 0.66 3,247 53 18 0.84 -0.18 Guosen Securities Co Ltd 19 1.11 1,396 17 33 0.51 0.60 Daiwa Securities 20 0.61 3,015 38 22 0.64 -0.03 BNP Paribas 20 1.00 1,248 10 22 0.67 0.33 TOTAL 100% 494,212 2,755 100% TOTAL 100% 125,340 923 100%

2 Global Equity Linked 1st 3Q 2015 1st 3Q 2014

Mkt Volume (USD Deal Firm Rank Share(%) Mln) Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) JP Morgan 1 14.79 9,511 38 1 10.88 3.91 Bank of America Merrill 2 8.74 5,617 28 4 8.03 0.71 Lynch Barclays 3 6.69 4,300 16 8 4.18 2.51 Morgan Stanley 4 6.35 4,081 28 3 9.50 -3.15 Deutsche Bank 5 6.03 3,877 13 6 4.97 1.06 Citi 6 5.21 3,351 16 5 5.14 0.07 Wells Fargo 7 5.02 3,228 12 15 2.02 3.00 Credit Suisse 8 4.86 3,124 15 7 4.81 0.05

Nomura 9 4.15 2,668 16 9 4.10 0.05 5 Goldman Sachs 10 3.92 2,520 20 2 10.71 -6.79 1 0 BNP Paribas 11 3.11 1,998 13 13 2.76 0.35 2

Mizuho Financial 12 2.95 1,896 9 26 0.46 2.49

RBC Capital Markets 13 2.85 1,833 13 10 4.05 -1.20 Q

HSBC 14 2.51 1,614 12 12 3.14 -0.63 3

Societe Generale 15 2.22 1,430 10 14 2.64 -0.42 t UBS 16 1.53 986 8 11 3.21 -1.68 s 1

BMO Capital Markets 17 1.49 957 8 31 0.33 1.16 |

Sumitomo Mitsui Financial 18 1.41 905 5 23 0.81 0.60 y

Jefferies 19 1.18 757 9 21 0.88 0.30 t i

Daiwa Securities 20 1.14 736 7 16 1.52 -0.38 u

TOTAL 100% 64,290 259 100% q E

l a b o l G

g r e b m o o l B

3 US Equity & Equity Linked: Industry Breakdown

Health Care 25% US Equity Review Financials 21% 15% 1st 3Q 2015 credited US Equity & Equity Linked volume increased 1.82% to USD 202.2 Bln while deal count 25% Energy 16% decreased 8.63% to 731 offerings year-on-year. US Equity IPO volume decreased 32.61% year-on-year to USD Technology 12% 27.3 Bln while the deal count decreased 25.00% to 135. US Equity Linked volume decreased 17.04% year-on- 11% year to USD 29.8 Bln over 60 deals. Consumer Discretionary 11%

JP Morgan ranked as the top US Equity & Equity Linked underwriter for 1st 3Q 2015 with 12.64% market share. 12% Others 15% The bank underwrote 186 deals over the period. Morgan Stanley and Citi ranked second and third with 9.78% 21%

and 9.51% market share, respectively. 16%

US Equity & Equity Linked: Highlights of 1st 3Q 2015 2015 Top Underwriter Issuer Industry Deal Size (USD Mln) Date

JP Morgan 3Q Actavis plc Health Care 5,060 02/25/2015 Number of deals 186 Actavis plc Health Care 4,180 02/25/2015

Volume (USD Mln) 25,566 1st Citizens Financial Group Inc Financials 3,687 03/25/2015 US Equity & Equity Linked: Industry Breakdown

Avg Deal size (USD Mln) 137.5 | Hilton Worldwide Holdings Consumer 2,686 05/11/2015 Inc Discretionary Industry Volume (USD Mln) % Of Total % YOY Change Market Summary Citizens Financial Group Inc Financials 2,571 07/28/2015 Health Care 52,230 25.3% 91.0% Number of deals 731 American Tower Corp Financials 2,507 02/25/2015 Financials 43,934 21.2% -18.7% Volume (USD Mln) 202,189 Mylan NV Health Care 2,349 03/31/2015 Energy 32,213 15.6% -14.4% Avg Deal size (USD Mln) 276.6 Endo International PLC Health Care 2,300 06/04/2015 Technology 23,942 11.6% -2.8% Microchip Technology Inc Technology 1,950 02/06/2015 Consumer Discretionary 22,780 11.0% 18.5% Frontier Communications Communications 1,925 06/05/2015 Materials 7,141 3.5% 19.8% Corp Communications 6,977 3.4% -4.4% Global Equity Utilities 6,175 3.0% -34.9%

Consumer Staples 5,969 2.9% -16.2%

US Equity & Equity Linked: Quarterly Volume Industrials 5,437 2.6% -55.2%

Deal Count Equity-Linked Add'l IPO 100 400 US Equity & Equity Linked: Offering Breakdown 80 300 Offering Type Volume (USD Mln) % Of Total % YOY Change

Additional Offerings 146,767 71.0% 19.7% 60 Deal Count Deal Count Equity-Linked 32,549 15.7% -18.8% 200 IPO 27,486 13.3% -34.8% USD BlnUSD Bln 40

100 B loomberg 20

0 0

Q3 2010 Q3 2011 Q3 2012 Q3 2013 Q3 2014 Q3 2015

Quarters

4 US Equity & Equity Linked US Equity Offerings 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014

Mkt Volume (USD Deal Prev Mkt Volume (USD Deal Firm Rank Share(%) Mln) Count Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) JP Morgan 1 12.64 25,566 186 1 11.41 1.23 JP Morgan 1 11.80 20,336 164 3 10.27 1.53 Morgan Stanley 2 9.78 19,778 144 5 10.14 -0.36 Credit Suisse 2 10.03 17,284 118 7 7.60 2.43 Citi 3 9.51 19,220 144 2 11.24 -1.73 Morgan Stanley 3 9.79 16,874 125 6 9.20 0.59 Bank of America Merrill 4 9.38 18,973 159 4 10.53 -1.15 Citi 4 9.65 16,629 132 1 12.48 -2.83 Lynch Goldman Sachs 5 9.51 16,395 121 4 9.95 -0.44 Credit Suisse 5 9.25 18,702 127 7 7.10 2.15 Barclays 6 8.88 15,309 111 5 9.38 -0.50 Goldman Sachs 6 8.95 18,095 134 3 11.16 -2.21 Bank of America Merrill Lynch 7 8.63 14,873 141 2 10.66 -2.03 Barclays 7 8.37 16,928 120 6 8.69 -0.32 Deutsche Bank 8 6.60 11,371 88 8 6.78 -0.18 Deutsche Bank 8 5.76 11,650 93 8 6.53 -0.77 Wells Fargo 9 4.03 6,946 85 9 4.58 -0.55 Wells Fargo 9 5.03 10,174 97 10 4.58 0.45 RBC Capital Markets 10 2.74 4,726 79 10 3.72 -0.98

RBC Capital Markets 10 2.91 5,877 87 9 4.62 -1.71 UBS 11 2.69 4,632 44 11 3.31 -0.62 2015 Jefferies 11 2.42 4,890 89 12 1.69 0.73 Jefferies 12 2.43 4,182 81 12 1.62 0.81 UBS 12 2.33 4,712 45 11 2.76 -0.43 Cowen & Co 13 1.40 2,409 57 17 0.68 0.72 3Q Cowen & Co 13 1.25 2,536 60 16 0.59 0.66 Leerink Partners LLC 14 1.32 2,275 43 16 0.68 0.64 Leerink Partners LLC 14 1.16 2,340 44 17 0.56 0.60 Stifel 15 0.97 1,679 48 13 1.24 -0.27

Mizuho Financial 15 0.88 1,773 3 78 0.01 0.87 SunTrust Robinson Humphrey 16 0.81 1,392 19 27 0.20 0.61 1st

Stifel 16 0.87 1,751 50 13 1.01 -0.14 Raymond James & 17 0.76 1,314 35 15 0.97 -0.21 | BMO Capital Markets 17 0.78 1,575 21 14 0.89 -0.11 Associates SunTrust Robinson 18 0.71 1,432 20 25 0.21 0.50 Piper Jaffray & Co 18 0.72 1,248 37 20 0.41 0.31 Humphrey BMO Capital Markets 19 0.70 1,205 18 14 1.06 -0.36 Piper Jaffray & Co 19 0.67 1,360 40 18 0.55 0.12 KeyBanc Capital Markets 20 0.65 1,118 15 19 0.47 0.18 Raymond James & 20 0.65 1,314 35 15 0.87 -0.22 TOTAL 100% 172,342 671 100% Associates TOTAL 100% 202,188 731 100%

US Equity IPO US Equity Linked

1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014 Global Equity

Mkt Volume (USD Deal Prev Mkt Volume (USD

Firm Rank Share(%) Mln) Count Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Citi 1 10.58 2,887 29 5 8.56 2.02 JP Morgan 1 17.52 5,230 22 2 16.58 0.94 Bank of America Merrill 2 10.40 2,840 37 7 7.26 3.14 Bank of America Merrill 2 13.74 4,100 18 4 9.94 3.80 Lynch Lynch Deutsche Bank 3 10.38 2,832 25 4 9.58 0.80 Wells Fargo 3 10.82 3,228 12 10 4.56 6.26 Goldman Sachs 4 8.54 2,330 32 2 10.48 -1.94 Morgan Stanley 4 9.73 2,904 19 3 14.41 -4.68 Morgan Stanley 5 7.97 2,175 25 1 10.91 -2.94 Citi 5 8.68 2,592 12 6 5.60 3.08 JP Morgan 6 7.47 2,038 31 3 10.18 -2.71 Goldman Sachs 6 5.69 1,699 13 1 16.66 -10.97 Barclays 7 6.72 1,833 23 6 8.55 -1.83 Barclays 7 5.42 1,618 9 7 5.58 -0.16 Credit Suisse 8 5.81 1,585 29 9 5.74 0.07 Credit Suisse 8 4.75 1,418 9 9 4.80 -0.05 RBC Capital Markets 9 4.21 1,150 18 10 3.71 0.50 RBC Capital Markets 9 3.86 1,151 8 5 8.69 -4.83 Jefferies 10 3.70 1,011 21 13 2.21 1.49 Mizuho Financial 10 3.61 1,077 2 - - - Wells Fargo 11 3.66 999 16 8 6.08 -2.42 BNP Paribas 11 2.41 719 4 15 0.46 1.95 Cantor Fitzgerald 12 2.59 707 6 - - - Jefferies 12 2.37 708 8 11 1.98 0.39 UBS 13 2.03 555 10 11 2.64 -0.61 BMO Capital Markets 13 1.24 370 3 24 0.13 1.11 Cowen & Co 14 1.91 521 12 16 0.91 1.00 Macquarie 14 1.21 360 5 23 0.16 1.05 Bloomberg SunTrust Robinson 15 1.63 444 7 - - - Nomura 15 1.18 354 4 14 0.47 0.71 Humphrey US Bancorp 16 0.96 288 1 - - - Leerink Partners LLC 16 1.55 423 10 17 0.87 0.68 HSBC 16 0.96 288 1 12 1.21 -0.25 Stifel 17 1.47 401 12 12 2.25 -0.78 Deutsche Bank 18 0.93 279 5 8 5.39 -4.46 Piper Jaffray & Co 18 1.32 361 10 18 0.86 0.46 RBS 19 0.92 275 1 18 0.29 0.63 Evercore Partners Inc 19 1.01 277 5 44 0.08 0.93 TD Securities 19 0.92 275 1 - - - Raymond James & 20 0.99 270 5 15 0.91 0.08 TOTAL 100% 29,846 60 100% Associates TOTAL 100% 27,291 135 100%

5 Canada Equity, Equity Linked & Preferred: Quarterly Volume

Deal Count Amount Canada Equity Review 20 400 1st 3Q 2015 credited Canada Equity, Equity Linked & Preferred volume decreased 4.01% to CAD 38.5 Bln while 15 300

deal count decreased 26.02% to 273 offerings year-on-year. Canada Equity IPO volume increased 26.57% Deal Count Deal Count year-on-year to CAD 3.8 Bln while the deal count increased 54.17% to 37. Canada Equity Offerings volume 10 200 increased 3.12% year-on-year to CAD 32.4 Bln over 240 deals.

CAD BlnCAD Bln RBC Capital Markets ranked as the top Canada Equity, Equity Linked & Preferred underwriter for 1st 3Q 2015 5 100 with 21.27% market share. The bank underwrote 55 deals over the period. BMO Capital Markets and Scotiabank ranked second and third with 13.31% and 10.26% market share, respectively. 0 0

Q3 2010Q3 2010 Q3 2011Q3 2011 Q3 2012Q3 2012 Q3 2013Q3 2013 Q3 2014Q3 2014 Q3 2015Q3 2015

Quarters

Canada Equity, Equity Linked & Preferred Canada Equity, Equity Linked & Preferred: Industry Breakdown 2015 1st 3Q 2015 1st 3Q 2014 Financials 27% Firm Rank Mkt Share(%) Volume (CAD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Energy 21% 10% RBC Capital Markets 1 21.27 8,193 55 2 15.79 5.48 BMO Capital Markets 2 13.31 5,127 42 5 10.83 2.48 8% 27% Materials 13% Scotiabank 3 10.26 3,952 25 1 18.36 -8.10 Health Care 11% CIBC 4 8.81 3,392 38 3 12.31 -3.50 9% TD Securities 5 7.74 2,981 30 4 11.95 -4.21 Consumer Discretionary 9% Deutsche Bank 6 5.92 2,279 4 - - - 11% Utilities 8% National Bank Financial Inc 7 4.95 1,906 30 8 4.79 0.16 JP Morgan 8 3.37 1,299 4 20 0.24 3.13 21% Others 10% GMP Securities 9 2.93 1,127 19 7 5.23 -2.30 13% Canaccord Genuity 10 2.92 1,126 19 6 7.30 -4.38 TOTAL 100% 38,510 273 100% Global Equity | 1st 3Q

Canada Equity & Equity Linked Canada Equity, Equity Linked & Preferred: Manager Rankings 1st 3Q 2015 1st 3Q 2014 History Firm Rank Mkt Share(%) Volume (CAD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) RBC Capital Markets 1 20.09 7,217 37 2 14.58 5.51 2015 2014 2013 BMO Capital Markets 2 13.30 4,779 37 4 11.99 1.31 25 Scotiabank 3 9.26 3,326 14 1 16.35 -7.09 20 CIBC 4 8.94 3,209 29 3 12.18 -3.24 TD Securities 5 7.34 2,636 24 5 11.82 -4.48 Bloomberg Deutsche Bank 6 6.35 2,279 4 - - - 10 National Bank Financial Inc 7 5.04 1,809 25 8 5.29 -0.25 Market Share (%) JP Morgan 8 3.62 1,299 4 20 0.29 3.33

GMP Securities 9 3.14 1,127 19 6 6.20 -3.06 0 Canaccord Genuity 10 3.13 1,126 19 7 5.41 -2.28 CIBC TOTAL 100% 35,919 254 100% Scotiabank TD Securities Deutsche Bank

RBC Capital MarketsBMO Capital Markets

6 Canada Equity Offerings Canada Equity IPO 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014

Mkt Volume (CAD Deal Prev Prev Mkt Mkt Volume (CAD Deal Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) RBC Capital Markets 1 19.52 6,328 32 2 14.80 4.72 TD Securities 1 22.16 837 8 2 32.42 -10.26 BMO Capital Markets 2 12.52 4,058 32 4 11.88 0.64 BMO Capital Markets 2 19.74 745 9 4 5.26 14.48 CIBC 3 9.09 2,945 23 3 12.29 -3.20 RBC Capital Markets 3 10.46 395 5 5 4.35 6.11 Scotiabank 4 8.31 2,692 13 1 16.84 -8.53 CIBC 4 7.57 286 5 1 35.74 -28.17 TD Securities 5 7.87 2,552 21 5 11.75 -3.88 National Bank Financial Inc 5 6.72 253 3 7 1.93 4.79 Deutsche Bank 6 7.03 2,279 4 - - - Canaccord Genuity 6 5.97 225 6 3 15.16 -9.19 National Bank Financial Inc 7 4.76 1,542 20 8 4.74 0.02 Scotiabank 7 5.48 207 3 5 4.35 1.13 GMP Securities 8 3.48 1,127 19 6 6.25 -2.77 Cantor Fitzgerald 8 4.91 186 2 - - - Canaccord Genuity 9 3.47 1,126 19 7 5.69 -2.22 Bank of America Merrill 9 3.59 136 2 - - - Goldman Sachs 10 3.43 1,111 3 - - - Lynch 5 1 JP Morgan 11 2.05 666 3 30 0.13 1.92 WR Hambrecht + Co LLC 10 2.51 95 1 - - - 0 Citi 12 2.05 665 4 20 0.28 1.77 Deutsche Bank 11 2.03 77 1 - - - 2 Cormark Securities Inc 13 1.93 627 23 10 1.97 -0.04 Morgan Stanley 12 1.62 61 1 - - -

Macquarie 14 1.75 567 9 13 1.07 0.68 Credit Suisse 12 1.62 61 1 - - - Q

Credit Suisse 15 1.67 540 2 15 0.87 0.80 Cormark Securities Inc 14 1.52 58 2 - - - 3

Peters & Co Ltd 16 1.53 494 6 9 2.10 -0.57 GMP Securities 15 1.42 54 1 9 0.07 1.35 t s Barclays 17 1.33 432 2 16 0.68 0.65 JP Morgan 16 1.23 46 1 - - - 1

Goldman Sachs 16 1.23 46 1 - - -

Raymond James & 18 1.09 354 7 12 1.53 -0.44 | Associates Hampton Securities Ltd 18 0.07 3 2 - - - y

UBS 19 0.84 273 2 23 0.24 0.60 Macquarie 19 0.04 2 1 - - - t i

Dundee Corp 20 0.80 258 15 11 1.91 -1.11 Richardson GMP Ltd 20 0.03 1 4 12 0.05 -0.02 u

TOTAL 100% 32,413 240 100% TOTAL 100% 3,774 37 100% q E

Canadian Retail Structured Products l a 1st 3Q 2015 1st 3Q 2014 b o

Mkt Volume (CAD Deal Prev Prev Mkt l Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) G

CIBC 1 35.55 635 39 1 29.58 5.97

RBC Capital Markets 2 31.81 568 31 2 28.66 3.15 Scotiabank 3 16.83 300 23 3 14.37 2.46 BMO Capital Markets 4 7.38 132 9 6 5.97 1.41 g r National Bank Financial Inc 5 6.34 113 11 4 11.33 -4.99 e TD Securities 6 1.71 30 5 5 9.78 -8.07 b Raymond James & 7 0.38 7 1 7 0.10 0.28

Associates m ------o ------o

------l

------B ------TOTAL 100% 1,785 44 100%

7 Latin America Equity Offerings: Quarterly Volume

Deal Count Amount Latin America Equity Review 80 40 1st 3Q 2015 credited Latin America Equity Offerings volume decreased 43.79% to USD 9.2 Bln while deal count 60 30

decreased 37.84% to 23 offerings year-on-year. Brazil Equity Offerings volume increased 14.81% year-on-year D D e e n n a a l l l l B B

to BRL 20.2 Bln while the deal count decreased 30.00% to 14. C C

D D 40 20 o o u u S S n n

Banco BTG Pactual ranked as the top Latin America Equity Offerings underwriter for 1st 3Q 2015 with 11.33% U U t t market share. The bank underwrote 8 deals over the period. Banco Santander and JP Morgan ranked second 20 10 and third with 9.59% and 9.43% market share, respectively.

0 0 100 111 122 133 144 155 001 001 001 001 001 001 22 22 22 22 22 22 33 33 33 33 33 33 QQ QQ QQ QQ QQ QQ

Quarters 5 1

Latin America Equity Offerings 0 Latin America Equity Offerings: Industry Breakdown 2

1st 3Q 2015 1st 3Q 2014 Communications 64% Q 5%

Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) 3

Financials 13% Banco BTG Pactual 1 11.33 1,046 8 6 6.56 4.77 7% t Banco Santander 2 9.59 886 8 9 5.06 4.53 Consumer Discretionary 10% s 1

JP Morgan 3 9.43 871 6 10 3.82 5.61 10% Industrials 7% | Banco Itau BBA 4 8.37 773 6 1 11.44 -3.07 y

Credit Suisse 5 8.27 764 9 2 10.38 -2.11 Utilities 5% t i 13%

HSBC 6 6.60 609 5 8 5.64 0.96 u 64% Others 1%

Bank of America Merrill Lynch 7 6.43 594 5 3 8.56 -2.13 q

Goldman Sachs 8 6.32 583 4 7 6.02 0.30 E

Bradesco BBI SA 9 5.83 539 4 12 2.48 3.35 l Morgan Stanley 10 5.46 504 3 5 6.72 -1.26 a b TOTAL 100% 9,238 23 100% o l G

Brazil Equity Offerings

Latin America Equity Offerings: Manager Rankings History g r 1st 3Q 2015 1st 3Q 2014 e 2015 2014 2013 Firm Rank Mkt Share(%) Volume (BRL Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) 15 b Banco BTG Pactual 1 15.35 3,099 8 4 6.21 9.14 m

Credit Suisse 2 9.22 1,862 7 2 15.31 -6.09 ) % ( o 10 e

Bank of America Merrill Lynch 3 8.71 1,758 5 3 8.80 -0.09 r a o h S Banco Itau BBA 4 7.88 1,590 4 1 16.55 -8.67 l

t e

Bradesco BBI SA 4 7.88 1,590 4 5 5.19 2.69 k r 5 B a

JP Morgan 4 7.88 1,590 4 - - - M Banco Santander 7 7.76 1,566 4 6 5.11 2.65 0 Morgan Stanley 8 7.34 1,481 3 6 5.11 2.23 l r a e n A e C u d a B s B t n rg is HSBC 8 7.34 1,481 3 6 5.11 2.23 c a o B u S a t u S H P n M ta t a P I i G S J o d Goldman Sachs 8 7.34 1,481 3 6 5.11 2.23 T o c re B c n o n a C c a TOTAL 100% 20,181 14 100% n B a B B

8 EMEA Equity, Equity Linked & Rights: Largest Deals by Country EMEA Equity Review of 1st 3Q 2015 Issuer Volume (USD Mln) Date Country 1st 3Q 2015 credited EMEA Equity, Equity Linked & Rights volume decreased 18.64% to USD 175.8 Bln while Dassault Aviation SA 1,952 03/25/2015 France deal count decreased 0.16% to 608 offerings year-on-year. EMEA Equity IPO volume decreased 24.68% year- Vonovia SE 2,507 06/30/2015 Germany on-year to USD 43.3 Bln while the deal count decreased 11.52% to 146. EMEA Equity Linked volume decreased Star Bulk Carriers Corp 245 01/09/2015 Greece 40.97% year-on-year to USD 13.6 Bln over 47 deals. Banca Monte dei Paschi di Siena SpA 3,374 06/12/2015 Italy Goldman Sachs ranked as the top EMEA Equity, Equity Linked & Rights underwriter for 1st 3Q 2015 with 11.21% AerCap Holdings NV 3,488 06/03/2015 Netherlands market share. The bank underwrote 61 deals over the period. UBS and Bank of America Merrill Lynch ranked Saudi Ground Services Co 752 06/15/2015 Saudi Arabia second and third with 10.81% and 8.54% market share, respectively. Steinhoff Finance Holdings GmbH 1,218 07/30/2015 South Africa Banco Santander SA 8,872 01/09/2015 Spain Dufry AG 3,468 06/19/2015 Switzerland EMEA Equity, Equity Linked & Rights: Highlights of 1st 3Q 2015 Aabar Investments PJSC 1,093 03/23/2015 United Arab Emirates Royal Bank of Scotland Group PLC 3,249 08/04/2015 United Kingdom Issuer Industry Deal Size (USD Mln) Date

Banco Santander SA Financials 8,872 01/09/2015 Aena SA Industrials 4,822 02/10/2015 AerCap Holdings NV Financials 3,488 06/03/2015 Dufry AG Consumer Discretionary 3,468 06/19/2015 EMEA Equity, Equity Linked & Rights: Industry Breakdown Banca Monte dei Paschi di Siena SpA Financials 3,374 06/12/2015 Industry Volume (USD Mln) % Of Total % YOY Change Telefonica SA Communications 3,270 04/22/2015 Financials 71,022 38.3% -40.7% Royal Bank of Scotland Group PLC Financials 3,249 08/04/2015 Consumer Discretionary 24,501 13.2% -28.5% Glencore PLC Materials 2,531 09/16/2015 Industrials 23,652 12.8% 16.3% Vonovia SE Financials 2,507 06/30/2015 Communications 21,969 11.8% -4.9% Sunrise Communications Group AG Communications 2,459 02/06/2015 Materials 9,747 5.3% -6.1% Health Care 8,887 4.8% 10.4% Technology 8,490 4.6% -8.6% EMEA Equity, Equity Linked & Rights: Quarterly Volume Consumer Staples 8,021 4.3% -17.0% Energy 4,525 2.4% -48.9% Deal Count Rights Equity-Linked IPO Utilities 4,290 2.3% -54.3% Global Equity | 1st 3Q 2015 Add'l

140 400

120 EMEA Equity, Equity Linked & Rights: Offering Breakdown 300 100 Offering Type Volume (USD Mln) % Of Total % YOY Change Deal Count Deal Count 80 Additional Offerings 97,793 52.7% -2.1%

Bln 80

200 IPO 43,915 23.7% -28.4% Bloomberg

USD 60 Rights Offerings 26,940 14.5% -58.0% Equity-Linked 16,799 9.1% -39.8%

40 100

20

0 0

Q3 2010 Q3 2011 Q3 2012 Q3 2013 Q3 2014 Q3 2015

Quarters

9 EMEA Equity, Equity Linked & Rights EMEA Equity & Equity Linked 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014

Mkt Volume (USD Deal Mkt Volume (USD Firm Rank Share(%) Mln) Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Goldman Sachs 1 11.21 19,712 61 4 8.50 2.71 Goldman Sachs 1 11.11 16,722 54 3 9.28 1.83 UBS 2 10.81 19,006 61 3 8.80 2.01 UBS 2 11.06 16,640 54 4 9.15 1.91 Bank of America Merrill 3 8.54 15,007 62 5 8.27 0.27 Bank of America Merrill 3 9.19 13,830 57 5 8.91 0.28 Lynch Lynch Morgan Stanley 4 8.33 14,640 68 6 7.43 0.90 Morgan Stanley 4 8.77 13,190 62 6 7.62 1.15 JP Morgan 5 8.33 14,636 70 1 10.41 -2.08 JP Morgan 5 7.59 11,418 60 2 9.88 -2.29 Deutsche Bank 6 6.98 12,267 57 2 9.03 -2.05 Deutsche Bank 6 7.12 10,718 50 1 10.03 -2.91 Citi 7 5.04 8,860 42 7 5.94 -0.90 Citi 7 5.46 8,212 40 7 5.84 -0.38 Societe Generale 8 3.55 6,237 34 10 3.08 0.47 Societe Generale 8 3.30 4,962 31 10 2.86 0.44

Credit Suisse 9 3.33 5,852 42 8 4.05 -0.72 HSBC 9 2.81 4,221 23 11 2.35 0.46 5 BNP Paribas 10 2.76 4,851 28 13 2.06 0.70 Credit Suisse 10 2.79 4,192 34 8 4.43 -1.64 1 0 Barclays 11 2.72 4,787 31 9 3.91 -1.19 Barclays 11 2.31 3,476 27 9 3.30 -0.99 2

HSBC 12 2.56 4,493 24 11 2.55 0.01 BNP Paribas 12 2.30 3,458 21 12 1.97 0.33

Numis Corp PLC 13 1.27 2,236 26 22 0.68 0.59 Berenberg 13 1.35 2,027 13 19 0.77 0.58 Q

Berenberg 14 1.27 2,226 15 23 0.64 0.63 Numis Corp PLC 14 1.29 1,944 24 20 0.76 0.53 3

Banco Santander 15 1.14 1,998 10 24 0.63 0.51 Jefferies 15 1.15 1,728 22 15 1.36 -0.21 t Jefferies 16 0.98 1,728 22 14 1.38 -0.40 Banco Santander 16 1.08 1,620 8 44 0.22 0.86 s 1

Commerzbank 17 0.94 1,655 15 16 1.17 -0.23 Davy 17 1.03 1,555 7 24 0.56 0.47 |

UniCredit 18 0.91 1,599 10 15 1.22 -0.31 UniCredit 18 0.99 1,493 9 18 0.80 0.19 y

Davy 19 0.89 1,557 8 26 0.56 0.33 Nomura 19 0.93 1,395 8 23 0.57 0.36 t i

Nomura 20 0.85 1,501 9 20 0.78 0.07 Carnegie 20 0.85 1,285 22 17 0.83 0.02 u

TOTAL 100% 175,804 608 100% TOTAL 100% 150,446 544 100% q E

EMEA Equity Offerings EMEA Equity IPO l a 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014 b o

Mkt Volume (USD Deal Mkt Volume (USD Deal Prev Prev Mkt l Firm Rank Share(%) Mln) Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) G

Goldman Sachs 1 11.82 16,175 50 3 9.81 2.01 Morgan Stanley 1 8.89 3,848 16 4 7.76 1.13

UBS 2 11.53 15,784 48 4 9.19 2.34 JP Morgan 2 7.86 3,402 16 1 10.35 -2.49 Morgan Stanley 3 9.36 12,807 58 6 7.55 1.81 HSBC 3 6.57 2,846 12 12 2.40 4.17 Bank of America Merrill 4 9.26 12,666 50 5 8.70 0.56 Deutsche Bank 4 5.93 2,568 12 2 8.47 -2.54 g r Lynch Bank of America Merrill Lynch 5 5.07 2,194 12 7 5.00 0.07 e Deutsche Bank 5 7.41 10,135 46 1 10.79 -3.38 Goldman Sachs 6 5.05 2,184 12 6 7.09 -2.04 b JP Morgan 6 7.22 9,882 53 2 10.11 -2.89 UBS 7 4.82 2,087 11 5 7.21 -2.39

Citi 7 5.47 7,483 37 7 6.21 -0.74 Citi 8 4.17 1,804 12 9 3.89 0.28 m Credit Suisse 8 2.69 3,681 31 8 4.64 -1.95 Banco Santander 9 3.51 1,521 6 50 0.24 3.27 o Societe Generale 9 2.58 3,533 21 11 1.90 0.68

Credit Suisse 10 3.22 1,394 9 3 8.45 -5.23 o HSBC 10 2.45 3,350 16 10 2.10 0.35 Barclays 11 2.82 1,220 8 10 2.82 0.00 l

Barclays 11 1.86 2,542 22 9 2.95 -1.09 Berenberg 12 2.66 1,153 5 52 0.22 2.44 B BNP Paribas 12 1.59 2,179 12 16 1.04 0.55 BNP Paribas 13 2.52 1,092 6 16 1.57 0.95 Berenberg 13 1.48 2,027 13 19 0.77 0.71 Societe Generale 14 2.39 1,035 11 18 1.16 1.23 Numis Corp PLC 14 1.42 1,944 24 18 0.88 0.54 Banco Bilbao Vizcaya 15 2.33 1,010 2 - - - Jefferies 15 1.23 1,680 21 14 1.57 -0.34 Argentaria Banco Santander 16 1.18 1,620 8 57 0.15 1.03 Numis Corp PLC 16 2.26 979 6 13 1.81 0.45 Davy 17 1.14 1,555 7 21 0.65 0.49 SEB 17 1.82 788 9 22 0.80 1.02 Nomura 18 1.00 1,367 7 20 0.65 0.35 Carnegie 18 1.61 697 10 14 1.65 -0.04 Carnegie 19 0.94 1,285 22 17 0.96 -0.02 Commerzbank 19 1.35 586 6 23 0.78 0.57 ABN Amro Bank NV 20 0.85 1,169 7 60 0.12 0.73 ABG Sundal Collier Asa 20 1.35 584 9 53 0.22 1.13 TOTAL 100% 136,842 497 100% TOTAL 100% 43,286 146 100%

10 EMEA Equity Linked EMEA Rights Offerings 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014

Mkt Volume (USD Deal Prev Mkt Volume (USD Deal Prev Prev Mkt Firm Rank Share(%) Mln) Count Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) JP Morgan 1 11.29 1,536 7 4 8.35 2.94 JP Morgan 1 12.69 3,219 10 1 12.78 -0.09 Societe Generale 2 10.51 1,430 10 2 9.27 1.24 Goldman Sachs 2 11.79 2,990 7 8 5.05 6.74 BNP Paribas 3 9.40 1,279 9 5 8.15 1.25 UBS 3 9.33 2,365 7 2 7.22 2.11 Bank of America Merrill 4 8.56 1,164 7 1 10.32 -1.76 Credit Suisse 4 6.55 1,660 8 17 2.33 4.22 Lynch Deutsche Bank 5 6.11 1,549 7 9 4.59 1.52 Barclays 5 6.87 934 5 8 5.62 1.25 Morgan Stanley 6 5.72 1,450 6 4 6.60 -0.88 HSBC 6 6.40 870 7 10 4.00 2.40 BNP Paribas 7 5.49 1,392 7 16 2.45 3.04 UBS 7 6.29 856 6 3 8.93 -2.64 Barclays 8 5.17 1,311 4 3 6.63 -1.46 Citi 8 5.36 729 3 12 3.40 1.96 Societe Generale 9 5.02 1,274 3 10 4.06 0.96 Natixis 9 4.69 639 4 16 2.16 2.53 Bank of America Merrill Lynch 10 4.64 1,177 5 7 5.41 -0.77 5 1 Deutsche Bank 10 4.28 582 4 9 4.91 -0.63 Citi 11 2.55 647 2 5 6.36 -3.81 0 Goldman Sachs 11 4.02 547 4 7 5.74 -1.72 Mediobanca 12 1.90 481 2 6 6.00 -4.10 2 Credit Suisse 12 3.75 510 3 14 3.03 0.72 Commerzbank 12 1.90 481 2 11 3.58 -1.68

Credit Agricole CIB 13 3.60 490 4 11 3.51 0.09 Banco Santander 14 1.49 378 2 15 2.45 -0.96 Q

UniCredit 14 3.01 409 2 13 3.17 -0.16 Canaccord Genuity 15 1.39 352 1 - - - 3

Morgan Stanley 15 2.81 383 4 6 8.10 -5.29 Numis Corp PLC 16 1.15 292 2 28 0.31 0.84 t s ANOA Capital SA 16 2.28 310 4 21 0.69 1.59 La Caixa 17 1.07 273 1 - - - 1

RBS 17 1.35 184 2 15 2.60 -1.25

HSBC 17 1.07 273 1 12 3.44 -2.37 | ADS Securities LLC 18 1.03 140 2 - - - Banco Bilbao Vizcaya 17 1.07 273 1 20 1.61 -0.54 y

Raymond James & 19 0.85 115 2 - - - Argentaria t i Associates

Kempen & Co NV 20 0.90 229 3 44 0.05 0.85 u

Commerzbank 20 0.57 78 2 18 1.17 -0.60 TOTAL 100% 25,358 64 100% q

TOTAL 100% 13,603 47 100% E

l

Western Europe Equity, Equity Linked & Rights Eastern Europe Equity, Equity Linked & Rights a b 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014 o l Mkt Volume (EUR Deal Prev Prev Mkt Mkt Share Mkt Volume (EUR Deal Prev Prev Mkt Mkt Share G

Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%)

Goldman Sachs 1 12.40 16,949 55 4 8.95 3.45 VTB Capital 1 21.61 427 4 3 8.28 13.33

UBS 2 11.59 15,831 54 3 9.23 2.36 JP Morgan 2 11.18 221 2 8 5.20 5.98

Bank of America Merrill Lynch 3 9.27 12,664 56 5 8.77 0.50 PKO Bank Polski SA 3 10.58 209 4 14 2.30 8.28 g r Morgan Stanley 4 9.05 12,373 62 6 7.40 1.65 Unlu Menkul Degerler AS 4 8.98 177 4 - - - e JP Morgan 5 8.66 11,834 60 1 10.64 -1.98 Wood & Co Financial Services 5 8.10 160 3 21 1.39 6.71 Deutsche Bank 6 7.20 9,839 49 2 9.24 -2.04 AS b Credit Suisse 6 6.65 131 2 6 6.78 -0.13

Citi 7 5.09 6,954 34 7 5.50 -0.41 m Societe Generale 8 3.80 5,198 31 10 3.12 0.68 Morgan Stanley 7 6.43 127 2 22 1.23 5.20 o Credit Suisse 9 3.56 4,860 38 8 4.17 -0.61 Citi 8 5.04 99 3 4 7.41 -2.37 o

BNP Paribas 10 2.70 3,695 24 13 2.00 0.70 Otkritie Financial Corp JSC 9 4.02 79 1 - - - l UBS 10 3.14 62 1 5 6.97 -3.83 Barclays 11 2.39 3,261 21 9 3.66 -1.27 B HSBC 12 1.66 2,271 16 12 2.34 -0.68 UniCredit 11 2.29 45 2 13 2.94 -0.65 Berenberg 13 1.45 1,987 15 23 0.69 0.76 Goldman Sachs 12 2.24 44 2 7 6.71 -4.47 Banco Santander 14 1.16 1,579 8 24 0.69 0.47 AK Yatirim Menkul Degerler A.S. 13 1.72 34 1 - - - Commerzbank 15 1.07 1,465 14 17 1.21 -0.14 Raiffeisen Bank International 14 1.55 31 2 9 4.79 -3.24 Group Jefferies 16 1.05 1,432 20 14 1.37 -0.32 Davy 17 1.02 1,399 8 26 0.60 0.42 Commerzbank 15 1.23 24 1 - - - Numis Corp PLC 18 0.95 1,296 20 22 0.74 0.21 Mercurius DM SA 16 1.06 21 1 - - - Societe Generale 17 0.78 15 1 2 9.57 -8.79 UniCredit 19 0.95 1,293 7 15 1.25 -0.30 Banco Bilbao Vizcaya 20 0.84 1,150 3 31 0.43 0.41 Banco Santander 17 0.78 15 1 - - - Argentaria Intercapital Invest SA 19 0.68 13 1 - - - TOTAL 100% 136,653 456 100% Noble Securities SA 20 0.56 11 1 - - - TOTAL 100% 1,974 28 100%

11 MENA Equity, Equity Linked & Rights Sub-Sahara Equity , Equity Linked & Rights 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014

Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) HSBC 1 17.58 948 3 2 12.47 5.11 Java Capital 1 17.74 926 15 9 4.11 13.63 Deutsche Bank 2 16.10 868 4 12 3.31 12.79 Citi 2 13.91 726 2 1 20.24 -6.33 EFG-Hermes 3 8.43 454 4 5 6.51 1.92 Morgan Stanley 3 8.92 466 2 2 17.08 -8.16 Bank of America Merrill Lynch 4 8.11 437 2 4 7.54 0.57 UBS 4 8.07 421 1 - - - BNP Paribas 4 8.11 437 2 - - - Investec 5 5.98 312 4 13 2.60 3.38 Barclays 4 8.11 437 2 14 2.30 5.81 Natixis 6 5.84 305 1 - - - Societe Generale 4 8.11 437 2 - - - JP Morgan 6 5.84 305 1 5 7.21 -1.37 National Bank of Kuwait 8 4.04 218 1 - - - HSBC 6 5.84 305 1 11 2.61 3.23 JP Morgan 9 2.77 149 1 1 14.33 -11.56 Bank of America Merrill Lynch 9 5.17 270 1 - - - Bank Muscat 10 2.71 146 1 11 3.95 -1.24 Goldman Sachs 9 5.17 270 1 - - - 5 1 Goldman Sachs 11 2.45 132 1 15 1.89 0.56 FirstRand Ltd 11 4.58 239 3 7 6.10 -1.52 0 Riyad Bank 12 2.23 120 1 20 0.77 1.46 One Capital 12 3.88 203 1 - - - 2 Citi 13 2.06 111 1 7 5.81 -3.75 Standard Bank of South Africa 13 3.03 158 1 6 6.78 -3.75

FALCOM Financial Services/Saudi 14 1.83 99 2 - - - Barclays 14 1.92 100 2 3 10.15 -8.23 Q

Arabia RMB Holdings Ltd 15 1.33 70 1 - - - 3

Saudi Hollandi Bank 15 1.73 93 2 17 1.36 0.37 Renaissance Capital Holdings Ltd 16 0.76 40 1 14 2.54 -1.78 t s Banque Saudi Fransi 16 1.24 67 1 6 5.89 -4.65 United Investments Ltd 17 0.45 23 1 - - - 1

Bank Al-Jazira 17 1.19 64 1 23 0.43 0.76

PSG Group Ltd 18 0.40 21 1 - - - | Commercial International Bank of 18 1.14 62 1 18 1.26 -0.12 Nedbank Capital 18 0.40 21 1 - - - y

Egypt t

Imara Corporate Finance South Africa 20 0.28 15 2 - - - i Saudi Investment Bank/The 19 1.04 56 1 25 0.34 0.70

Pty Ltd u

Gulf International Bank BSC 20 0.99 53 1 26 0.28 0.71 TOTAL 100% 5,219 40 100% q

TOTAL 100% 5,391 22 100% E

l

AIM Equity Offerings a b 1st 3Q 2015 1st 3Q 2014 o l Mkt Volume (GBP Deal Prev Prev Mkt Mkt Share G

Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%)

Cenkos Securities 1 25.14 880 13 4 7.74 17.40

Zeus Capital 2 20.14 705 9 1 20.74 -0.60

Liberum Capital Ltd 3 4.25 149 7 3 8.52 -4.27 g r Investec 4 3.93 138 7 16 1.43 2.50 e Canaccord Genuity 5 3.93 138 9 2 10.46 -6.53 Panmure Gordon 6 3.85 135 13 7 4.68 -0.83 b

Shore Capital Group Ltd 7 3.50 123 9 6 5.12 -1.62 m JP Morgan 8 3.39 119 3 9 2.33 1.06 o Cantor Fitzgerald 9 3.26 114 12 34 0.40 2.86 o

Peel Hunt LLP 10 2.90 101 12 13 2.12 0.78 l

Oakley Capital Ltd 11 2.81 99 2 - - - B Berenberg 12 1.91 67 1 - - - N+1 13 1.70 60 5 8 2.47 -0.77 Numis Corp PLC 14 1.61 57 5 5 6.40 -4.79 Mirabaud Securities 15 1.50 53 5 12 2.13 -0.63 WH Ireland Ltd 16 1.34 47 9 17 1.25 0.09 Nplus1 Singer Ltd 17 1.32 46 4 25 0.80 0.52 Charles Stanley & Co Ltd 18 1.21 42 9 11 2.20 -0.99 Goodbody Corporate Finance 19 1.17 41 2 - - - Ltd FinnCap 20 1.11 39 11 14 1.63 -0.52 TOTAL 100% 3,500 220 100%

12 Asia ex-Japan Equity, Equity Linked & Rights

Deal Count Rights IPO Asia Pacific Equity Review Add'l 140 800 1st 3Q 2015 credited APAC ex-Japan Equity, Equity Linked & Rights volume increased 7.33% to USD 158.8 Bln

100 Deal CountDeal Count while deal count increased 5.01% to 1,468 offerings year-on-year. APAC ex-Japan Equity IPO volume 500 decreased 21.98% year-on-year to USD 55.9 Bln while the deal count increased 28.61% to 526. APAC ex-Japan USD Bln USD Bln Equity Linked volume decreased 41.26% year-on-year to USD 7.9 Bln over 109 deals.

Goldman Sachs ranked as the top APAC ex-Japan Equity, Equity Linked & Rights underwriter for 1st 3Q 2015 0 0 with 10.85% market share. The bank underwrote 47 deals over the period. UBS and Morgan Stanley ranked Q3 2010 Q3 2011 Q3 2012 Q3 2013 Q3 2014 Q3 2015 second and third with 10.37% and 7.05% market share, respectively. Q3 2010 Q3 2011 Q3 2012 Q3 2013 Q3 2014 Q3 2015 Quarters Australia/New Zealand Equity, EQL & Rights APAC Equity, Equity Linked & Rights: Highlights of 1st 3Q 2015 Deal Count Rights IPO

Issuer Industry Deal Size (USD Mln) Date Add'l 20 400 Huatai Securities Co Ltd Financials 5,000 05/22/2015 20 400 2015

Guotai Junan Securities Co Ltd Financials 4,842 06/16/2015 Deal CountDeal Count National Australia Bank Ltd Financials 4,359 05/20/2015 10 200

Haitong Securities Co Ltd Financials 4,247 05/28/2015 USD Bln USD Bln GF Securities Co Ltd Financials 4,138 03/31/2015 0 0 Coal India Ltd Energy 3,634 01/30/2015 0 0

Caltex Australia Ltd Energy 3,614 03/30/2015 Q3 2010Q3 2010 Q3 2011Q3 2011 Q3 2012Q3 2012 Q3 2013Q3 2013 Q3 2014Q3 2014 Q3 2015Q3 2015

Commonwealth Bank of Australia Financials 3,586 08/26/2015 Quarters Sun Pharmaceutical Industries Ltd Health Care 3,178 04/21/2015 China Equity, Equity Linked & Rights China Galaxy Securities Co Ltd Financials 3,094 05/05/2015

Deal Count Rights IPO

Add'l APAC Equity, Equity Linked & Rights: Industry Breakdown 300 400 Global Equity | 1st 3Q Deal CountDeal Count 200

200

Industry Volume (USD Mln) % Of Total % YOY Change USD Bln USD Bln

16% Financials 90,219 43.7% 91.3% Consumer Discretionary 22,499 10.9% -58.2% 0 0

6% Industrials 18,195 8.8% -20.7% Q3 2010Q3 2010 Q3 2011Q3 2011 Q3 2012Q3 2012 Q3 2013Q3 2013 Q3 2014Q3 2014 Q3 2015Q3 2015 44% Technology 16,395 7.9% 7.6% 7% Quarters Health Care 15,138 7.3% 60.4% Japan Equity & Equity Linked 8% Energy 11,461 5.6% 1.3% Communications 9,449 4.6% -2.0% 9% Deal Count Rights IPO

11% Materials 9,428 4.6% -13.6% Bloomberg Add'l Utilities 9,064 4.4% 76.7% 2,500 100 Consumer Staples 4,356 2.1% -59.0% 2,000 Deal CountDeal Count

50 1,000 USD Bln USD Bln 1,000

0 0

Q3 2010Q3 2010 Q3 2011Q3 2011 Q3 2012Q3 2012 Q3 2013Q3 2013 Q3 2014Q3 2014 Q3 2015Q3 2015

Quarters

13 Asia ex-Japan Equity, Equity Linked & Rights Asia ex-Japan Equity, EQL & Rights ex-CH A Shares 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014

Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Goldman Sachs 1 8.96 11,694 36 1 9.22 -0.26 Goldman Sachs 1 8.31 8,301 34 1 10.64 -2.33 UBS 2 7.60 9,914 36 7 4.66 2.94 Morgan Stanley 2 8.10 8,091 46 2 8.39 -0.29 Morgan Stanley 3 6.20 8,091 46 4 7.50 -1.30 UBS 3 6.94 6,937 32 7 5.08 1.86 JP Morgan 4 5.30 6,912 31 5 7.42 -2.12 JP Morgan 4 6.78 6,777 30 4 8.16 -1.38 Credit Suisse 5 5.23 6,832 39 3 7.74 -2.51 Credit Suisse 5 5.87 5,866 38 5 7.94 -2.07 CITIC Securities Co Ltd 6 3.56 4,649 32 9 2.86 0.70 Citi 6 4.05 4,051 29 3 8.36 -4.31 Citi 7 3.24 4,222 32 2 7.82 -4.58 CITIC Securities Co Ltd 7 3.06 3,060 23 10 2.31 0.75 Haitong Securities Co Ltd 8 2.25 2,941 45 21 0.89 1.36 HSBC 8 2.69 2,686 22 8 3.97 -1.28 China Securities Co Ltd 9 2.22 2,895 12 25 0.73 1.49 Deutsche Bank 9 2.52 2,515 12 6 6.61 -4.09 Deutsche Bank 10 2.08 2,719 16 6 6.06 -3.98 Haitong Securities Co Ltd 10 2.34 2,334 34 35 0.44 1.90 5 1 HSBC 11 2.06 2,686 22 8 4.02 -1.96 Bank of America Merrill Lynch 11 2.01 2,006 16 9 3.03 -1.02 0 China International Capital Corp 12 1.98 2,584 17 16 1.30 0.68 China International Capital Corp 12 1.96 1,960 11 17 1.24 0.72 2 China Merchants Securities 13 1.78 2,323 19 17 1.24 0.54 Kingston Financial Group Ltd 13 1.89 1,888 65 30 0.51 1.38

Huatai Securities Co Ltd 14 1.66 2,170 12 33 0.46 1.20 China Merchants Securities 14 1.72 1,717 11 22 0.69 1.03 Q

Ping An Insurance Group Co 15 1.57 2,045 22 79 0.11 1.46 NH Investment & Securities Co 15 1.71 1,707 20 - - - 3

Everbright Securities Co 16 1.56 2,040 6 76 0.12 1.44 Ltd t s Bank of America Merrill Lynch 17 1.54 2,006 16 10 2.62 -1.08 China Construction Bank 16 1.68 1,675 14 11 2.08 -0.40 1

Kotak Mahindra Bank Ltd 17 1.58 1,580 14 33 0.47 1.11

Kingston Financial Group Ltd 18 1.45 1,888 65 36 0.44 1.01 | Guosen Securities Co Ltd 19 1.42 1,854 20 23 0.81 0.61 Nomura 18 1.54 1,539 18 42 0.32 1.22 y

JM Financial Ltd 19 1.43 1,430 11 29 0.52 0.91 t

NH Investment & Securities Co 20 1.31 1,707 20 - - - i

Ltd Macquarie 20 1.34 1,340 8 23 0.63 0.71 u

TOTAL 100% 130,510 1,220 100% TOTAL 100% 99,940 1,017 100% q E

Asia ex-Japan Equity & Equity Linked Asia ex-Japan Equity Linked l a 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014 b o

Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Mkt Volume (USD Deal Prev Prev Mkt Mkt Share l Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) G

Goldman Sachs 1 9.57 10,470 30 1 7.55 2.02 JP Morgan 1 28.00 2,117 7 6 6.12 21.88

UBS 2 8.16 8,927 32 3 6.08 2.08 Credit Suisse 2 15.82 1,196 3 1 10.63 5.19 Morgan Stanley 3 6.57 7,182 40 4 5.46 1.11 KGI Securities Co Ltd 3 6.20 469 12 7 6.05 0.15 Credit Suisse 4 5.39 5,899 27 5 5.18 0.21 HSBC 4 6.04 457 4 3 8.92 -2.88 g r CITIC Securities Co Ltd 5 4.10 4,480 29 7 4.35 -0.25 China Securities Co Ltd 5 5.12 387 1 11 2.43 2.69 e JP Morgan 6 3.96 4,327 19 6 4.64 -0.68 CIMB 6 2.79 211 3 20 1.24 1.55 b Citi 7 3.37 3,691 27 2 6.28 -2.91 Morgan Stanley 7 2.65 200 1 12 2.31 0.34

Haitong Securities Co Ltd 8 2.47 2,697 42 19 1.41 1.06 Fubon Financial Holding Co Ltd 8 2.62 198 2 25 0.91 1.71 m

China International Capital Corp 9 2.36 2,584 17 14 1.92 0.44 Guosen Securities Co Ltd 9 2.56 193 1 32 0.60 1.96 o

China Securities Co Ltd 10 2.04 2,233 9 23 1.14 0.90 Yuanta Securities Co Ltd 10 2.56 193 10 26 0.87 1.69 o Deutsche Bank 11 1.95 2,134 13 9 2.88 -0.93 Bank of America Merrill Lynch 11 2.42 183 2 8 3.63 -1.21 l

Ping An Insurance Group Co 12 1.87 2,045 22 76 0.16 1.71 Shinyoung Securities Co Ltd 12 1.82 137 1 43 0.29 1.53 B Everbright Securities Co 13 1.87 2,040 6 67 0.20 1.67 Mega Securities Co Ltd 13 1.75 133 10 52 0.18 1.57 HSBC 14 1.77 1,940 15 8 4.14 -2.37 DBS Group 14 1.69 128 2 31 0.60 1.09 Huatai Securities Co Ltd 15 1.76 1,927 11 27 0.73 1.03 Hong Leong Investment Bank 15 1.65 125 3 - - - NH Investment & Securities Co 16 1.56 1,707 20 - - - Bhd Ltd Masterlink Securities 16 1.46 110 1 51 0.19 1.27 China Merchants Securities 17 1.47 1,611 16 15 1.66 -0.19 Standard Chartered Bank 17 1.39 105 2 10 2.80 -1.41 Guosen Securities Co Ltd 18 1.47 1,611 19 22 1.28 0.19 CTBC Financial Holding Co Ltd 18 1.14 86 4 53 0.15 0.99 Kotak Mahindra Bank Ltd 19 1.31 1,433 12 36 0.56 0.75 Barclays 19 1.10 83 1 30 0.63 0.47 Kingston Financial Group Ltd 20 1.24 1,353 49 37 0.45 0.79 China Construction Bank 20 0.96 73 1 - - - TOTAL 100% 109,367 1,108 100% TOTAL 100% 7,558 107 100%

14 Asia ex-Japan Equity Linked ex-China Exchanges Asia ex-Japan Equity Offerings 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014

Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) JP Morgan 1 33.70 1,981 6 6 6.49 27.21 CITIC Securities Co Ltd 1 7.12 13,495 53 8 3.42 3.70 KGI Securities Co Ltd 2 7.98 469 12 7 6.41 1.57 UBS 2 6.33 12,002 39 9 3.39 2.94 HSBC 3 7.77 457 4 3 9.46 -1.69 Goldman Sachs 3 6.31 11,954 36 1 7.06 -0.75 Credit Suisse 4 3.91 230 2 1 11.27 -7.36 Morgan Stanley 4 4.75 9,004 50 3 5.82 -1.07 CIMB 5 3.59 211 3 17 1.32 2.27 Guotai Junan Securities Co Ltd 5 4.08 7,724 42 10 2.81 1.27 Morgan Stanley 6 3.40 200 1 11 2.45 0.95 China Merchants Securities 6 3.18 6,021 33 23 1.25 1.93 Fubon Financial Holding Co Ltd 7 3.38 198 2 22 0.97 2.41 China Securities Co Ltd 7 3.15 5,962 29 7 4.50 -1.35 Yuanta Securities Co Ltd 8 3.29 193 10 23 0.92 2.37 Credit Suisse 8 3.01 5,703 37 2 6.03 -3.02 Bank of America Merrill Lynch 9 3.12 183 2 8 3.85 -0.73 Deutsche Bank 9 2.85 5,398 20 6 4.96 -2.11 Shinyoung Securities Co Ltd 10 2.33 137 1 41 0.31 2.02 Haitong Securities Co Ltd 10 2.75 5,208 58 11 2.76 -0.01 5 1 Mega Securities Co Ltd 11 2.26 133 10 50 0.20 2.06 Southwest Securities Co Ltd 11 2.72 5,151 28 15 1.92 0.80 0 DBS Group 12 2.17 128 2 28 0.64 1.53 China International Capital Corp 12 2.55 4,838 20 16 1.91 0.64 2 Hong Leong Investment Bank 13 2.12 125 3 - - - JP Morgan 13 2.53 4,796 24 4 5.77 -3.24

Bhd Citi 14 2.42 4,581 33 5 5.51 -3.09 Q

Masterlink Securities 14 1.88 110 1 49 0.20 1.68 Huatai Securities Co Ltd 15 1.96 3,720 28 18 1.68 0.28 3

Standard Chartered Bank 15 1.79 105 2 10 2.96 -1.17 Guosen Securities Co Ltd 16 1.87 3,553 33 14 2.06 -0.19 t s CTBC Financial Holding Co Ltd 16 1.46 86 4 51 0.16 1.30 Ping An Insurance Group Co 17 1.76 3,341 24 85 0.08 1.68 1

Barclays 17 1.42 83 1 27 0.67 0.75

GF Securities 18 1.29 2,443 31 13 2.25 -0.96 | China Merchants Securities 18 1.23 73 1 - - - China Investment Securities Co 19 1.20 2,269 9 79 0.12 1.08 y

China Construction Bank 18 1.23 73 1 - - - Ltd t i

Cathay Securities Co Ltd 20 1.20 70 7 31 0.56 0.64 HSBC 20 1.18 2,229 18 12 2.40 -1.22 u

TOTAL 100% 5,877 103 100% TOTAL 100% 189,533 1,398 100% q E

Asia ex-Japan Equity IPO l a 1st 3Q 2015 1st 3Q 2014 b o

Mkt Volume (USD Deal Prev Prev Mkt l Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) G

UBS 1 5.30 2,792 10 11 2.26 3.04

Morgan Stanley 2 4.60 2,420 12 2 9.72 -5.12 China Merchants Securities 3 4.17 2,195 17 12 2.19 1.98 CITIC Securities Co Ltd 4 3.95 2,080 14 8 3.25 0.70 g r Everbright Securities Co 5 3.88 2,040 6 49 0.24 3.64 e Huatai Securities Co Ltd 6 3.85 2,028 9 26 0.74 3.11 b Ping An Insurance Group Co 7 3.81 2,003 19 81 0.09 3.72

Guosen Securities Co Ltd 8 3.12 1,640 18 15 1.46 1.66 m

Goldman Sachs 9 2.88 1,514 9 1 10.21 -7.33 o

China Securities Co Ltd 10 2.40 1,265 7 21 0.89 1.51 o Southwest Securities Co Ltd 11 2.24 1,178 5 42 0.31 1.93 l

Citi 12 2.13 1,123 11 4 8.07 -5.94 B China International Capital 13 2.13 1,123 10 14 1.67 0.46 Corp Haitong Securities Co Ltd 14 1.93 1,017 17 17 1.03 0.90 China Investment Corp 15 1.88 989 3 96 0.07 1.81 Bank of China 16 1.87 982 8 7 3.47 -1.60 China Lion Securities Co Ltd 17 1.86 981 10 - - - Huarong Securities Co Ltd 18 1.84 968 1 - - - China Construction Bank 19 1.82 960 7 24 0.79 1.03 Bangkok Bank PCL 20 1.80 945 3 75 0.10 1.70 TOTAL 100% 52,626 478 100%

15 APAC Equity, Equity Linked & Rights APAC Equity & Equity Linked 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014

Mkt Volume (USD Deal Prev Prev Mkt Mkt Volume (USD Deal Prev Prev Mkt Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) Goldman Sachs 1 9.98 18,520 53 1 10.00 -0.02 Goldman Sachs 1 10.47 17,624 52 1 9.93 0.54 UBS 2 9.35 17,365 79 4 6.43 2.92 UBS 2 8.87 14,926 72 4 6.54 2.33 Morgan Stanley 3 8.67 16,093 81 2 8.38 0.29 Morgan Stanley 3 8.03 13,512 77 2 8.33 -0.30 JP Morgan 4 4.99 9,267 42 7 5.36 -0.37 JP Morgan 4 5.05 8,495 35 8 5.31 -0.26 Nomura 5 4.32 8,016 79 6 5.49 -1.17 Nomura 5 4.74 7,976 78 6 6.06 -1.32 Credit Suisse 6 3.91 7,266 45 5 5.87 -1.96 Credit Suisse 6 4.13 6,958 39 5 6.37 -2.24 Macquarie 7 3.74 6,951 37 13 2.39 1.35 Citi 7 3.06 5,144 36 3 7.71 -4.65 Citi 8 3.06 5,673 40 3 7.33 -4.27 Macquarie 8 2.77 4,655 31 12 2.54 0.23 CITIC Securities Co Ltd 9 2.50 4,649 32 14 1.99 0.51 CITIC Securities Co Ltd 9 2.66 4,480 29 13 2.11 0.55 Deutsche Bank 10 2.32 4,312 25 8 5.14 -2.82 Deutsche Bank 10 2.56 4,302 24 7 5.31 -2.75 5 1 Bank of America Merrill Lynch 11 2.30 4,268 24 9 3.42 -1.12 Sumitomo Mitsui Financial 11 2.47 4,150 58 10 3.01 -0.54 0 Sumitomo Mitsui Financial 12 2.24 4,150 58 11 2.73 -0.49 Daiwa Securities 12 2.23 3,750 45 11 2.75 -0.52 2 Daiwa Securities 13 2.02 3,750 45 12 2.49 -0.47 Mizuho Financial 13 1.69 2,851 39 15 1.61 0.08

Haitong Securities Co Ltd 14 1.58 2,941 45 26 0.62 0.96 Haitong Securities Co Ltd 14 1.60 2,697 42 24 0.68 0.92 Q

China Securities Co Ltd 15 1.56 2,895 12 30 0.50 1.06 Bank of America Merrill Lynch 15 1.55 2,603 20 9 3.06 -1.51 3

Mizuho Financial 16 1.54 2,851 39 15 1.46 0.08 China International Capital 16 1.54 2,584 17 20 1.00 0.54 t s HSBC 17 1.45 2,686 22 10 2.79 -1.34 Corp 1

China Securities Co Ltd 17 1.47 2,477 10 29 0.56 0.91

China International Capital 18 1.39 2,584 17 22 0.91 0.48 | Corp HSBC 18 1.42 2,385 18 14 2.08 -0.66 y

China Merchants Securities 19 1.25 2,323 19 23 0.86 0.39 China Merchants Securities 19 1.38 2,323 19 21 0.88 0.50 t i

Huatai Securities Co Ltd 20 1.17 2,170 12 36 0.32 0.85 Huatai Securities Co Ltd 20 1.29 2,170 12 35 0.35 0.94 u

TOTAL 100% 185,635 1,667 100% TOTAL 100% 168,281 1,554 100% q E

APAC Equity Offerings APAC Equity Linked l a 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014 b o

Mkt Volume (USD Deal Prev Prev Mkt Mkt Volume (USD Deal Prev l Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Count Rank Prev Mkt Share(%) Mkt Share Chg(%) G

Goldman Sachs 1 11.24 17,349 49 1 10.36 0.88 Nomura 1 16.41 2,287 11 1 16.21 0.20

UBS 2 9.64 14,876 71 4 7.11 2.53 JP Morgan 2 16.26 2,267 8 8 4.29 11.97 Morgan Stanley 3 8.24 12,718 72 2 9.00 -0.76 Credit Suisse 3 8.58 1,196 3 2 7.44 1.14 JP Morgan 4 4.04 6,229 27 6 5.45 -1.41 Sumitomo Mitsui Financial 4 6.49 905 5 10 3.42 3.07 g r Credit Suisse 5 3.73 5,763 36 5 6.22 -2.49 Mizuho Financial 5 5.88 819 7 14 1.97 3.91 e Nomura 6 3.69 5,689 67 8 4.69 -1.00 Morgan Stanley 6 5.69 794 5 11 3.39 2.30 b Citi 7 3.31 5,114 35 3 7.83 -4.52 Daiwa Securities 7 5.28 736 7 5 6.46 -1.18

Macquarie 8 3.02 4,655 31 11 2.75 0.27 Deutsche Bank 8 3.64 507 2 7 4.68 -1.04 m

CITIC Securities Co Ltd 9 2.90 4,480 29 12 2.33 0.57 KGI Securities Co Ltd 9 3.36 469 12 9 4.23 -0.87 o

Deutsche Bank 10 2.46 3,795 22 7 5.39 -2.93 HSBC 10 3.28 457 4 6 6.24 -2.96 o Sumitomo Mitsui Financial 11 2.10 3,246 53 10 2.96 -0.86 China Securities Co Ltd 11 2.78 387 1 16 1.70 1.08 l

Daiwa Securities 12 1.95 3,015 38 13 2.25 -0.30 Bank of America Merrill Lynch 12 2.54 354 3 12 2.54 0.00 B Haitong Securities Co Ltd 13 1.75 2,697 42 24 0.69 1.06 Goldman Sachs 13 1.97 274 3 4 6.78 -4.81 China International Capital 14 1.67 2,584 17 19 1.13 0.54 CIMB 14 1.51 211 3 23 0.87 0.64 Corp Fubon Financial Holding Co 15 1.42 198 2 28 0.64 0.78 China Merchants Securities 15 1.46 2,251 18 21 1.00 0.46 Ltd Bank of America Merrill Lynch 16 1.46 2,250 17 9 3.13 -1.67 Guosen Securities Co Ltd 16 1.39 193 1 35 0.42 0.97 Huatai Securities Co Ltd 17 1.41 2,170 12 35 0.33 1.08 Yuanta Securities Co Ltd 17 1.39 193 10 29 0.61 0.78 China Securities Co Ltd 18 1.35 2,090 9 32 0.40 0.95 Shinyoung Securities Co Ltd 18 0.98 137 1 45 0.21 0.77 Ping An Insurance Group Co 19 1.32 2,045 22 78 0.09 1.23 Mega Securities Co Ltd 19 0.95 133 10 54 0.13 0.82 Everbright Securities Co 20 1.32 2,040 6 66 0.11 1.21 DBS Group 20 0.91 128 2 34 0.42 0.49 TOTAL 100% 154,343 1,418 100% TOTAL 100% 13,937 136 100%

16 APAC ex-Japan Equity, Equity Linked & Rights APAC ex-Japan Equity & Equity Linked 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014

Mkt Volume (USD Deal Prev Prev Mkt Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Goldman Sachs 1 10.85 17,220 47 1 10.61 0.24 Goldman Sachs 1 11.54 16,324 46 1 10.60 0.94 UBS 2 10.37 16,459 70 4 7.31 3.06 UBS 2 9.91 14,019 63 5 7.56 2.35 Morgan Stanley 3 7.05 11,202 54 3 7.72 -0.67 Morgan Stanley 3 6.10 8,621 50 4 7.58 -1.48 JP Morgan 4 5.01 7,953 38 6 6.19 -1.18 JP Morgan 4 5.08 7,182 31 6 6.23 -1.15 Credit Suisse 5 4.58 7,266 45 5 7.06 -2.48 Credit Suisse 5 4.92 6,958 39 3 7.82 -2.90 Macquarie 6 4.34 6,897 36 10 2.87 1.47 Citi 6 3.58 5,063 34 2 9.35 -5.77 Citi 7 3.52 5,592 38 2 8.71 -5.19 Macquarie 7 3.25 4,600 30 8 3.11 0.14 CITIC Securities Co Ltd 8 2.93 4,649 32 11 2.39 0.54 CITIC Securities Co Ltd 8 3.17 4,480 29 9 2.60 0.57 Deutsche Bank 9 2.40 3,805 23 7 5.84 -3.44 Deutsche Bank 9 2.68 3,795 22 7 6.14 -3.46 Bank of America Merrill Lynch 10 2.39 3,793 19 9 2.90 -0.51 Haitong Securities Co Ltd 10 1.91 2,697 42 20 0.84 1.07 5 1 Haitong Securities Co Ltd 11 1.85 2,941 45 22 0.74 1.11 China International Capital Corp 11 1.83 2,584 17 16 1.23 0.60 0 China Securities Co Ltd 12 1.82 2,895 12 26 0.61 1.21 China Securities Co Ltd 12 1.75 2,477 10 25 0.68 1.07 2 HSBC 13 1.69 2,686 22 8 3.35 -1.66 HSBC 13 1.69 2,385 18 10 2.55 -0.86

China International Capital 14 1.63 2,584 17 18 1.09 0.54 China Merchants Securities 14 1.64 2,323 19 17 1.08 0.56 Q

Corp Huatai Securities Co Ltd 15 1.53 2,170 12 32 0.43 1.10 3

China Merchants Securities 15 1.46 2,323 19 19 1.03 0.43 Bank of America Merrill Lynch 16 1.50 2,128 15 11 2.39 -0.89 t s Huatai Securities Co Ltd 16 1.37 2,170 12 33 0.38 0.99 Ping An Insurance Group Co 17 1.45 2,045 22 85 0.09 1.36 1

Ping An Insurance Group Co 17 1.29 2,045 22 85 0.09 1.20

Everbright Securities Co 18 1.44 2,040 6 72 0.12 1.32 | Everbright Securities Co 18 1.28 2,040 6 81 0.10 1.18 Guosen Securities Co Ltd 19 1.31 1,854 20 23 0.76 0.55 y

Kingston Financial Group Ltd 19 1.19 1,888 65 36 0.37 0.82 t

NH Investment & Securities Co 20 1.21 1,707 20 - - - i

Guosen Securities Co Ltd 20 1.17 1,854 20 24 0.68 0.49 Ltd u

TOTAL 100% 158,783 1,468 100% TOTAL 100% 141,429 1,355 100% q E

APAC ex-Japan Equity Offerings APAC ex-Japan Equity IPO l a 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014 b o

Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Mkt Volume (USD Deal Prev Prev Mkt l Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) G

Goldman Sachs 1 12.18 16,262 45 1 10.93 1.25 UBS 1 6.17 3,452 15 7 4.48 1.69

UBS 2 10.46 13,969 62 4 8.04 2.42 Morgan Stanley 2 4.33 2,420 12 2 9.22 -4.89 Morgan Stanley 3 6.31 8,421 49 3 8.17 -1.86 China Merchants Securities 3 3.93 2,195 17 13 1.94 1.99 Credit Suisse 4 4.31 5,763 36 5 7.50 -3.19 Goldman Sachs 4 3.78 2,112 15 1 9.83 -6.05 g r Citi 5 3.77 5,033 33 2 9.31 -5.54 CITIC Securities Co Ltd 5 3.72 2,080 14 10 2.87 0.85 e JP Morgan 6 3.68 4,915 23 6 6.25 -2.57 Everbright Securities Co 6 3.65 2,040 6 49 0.21 3.44 b Macquarie 7 3.44 4,600 30 8 3.31 0.13 Huatai Securities Co Ltd 7 3.63 2,028 9 28 0.66 2.97

CITIC Securities Co Ltd 8 3.35 4,480 29 9 2.81 0.54 Ping An Insurance Group Co 8 3.58 2,003 19 89 0.08 3.50 m

Deutsche Bank 9 2.84 3,795 22 7 6.07 -3.23 Guosen Securities Co Ltd 9 2.93 1,640 18 17 1.29 1.64 o

Haitong Securities Co Ltd 10 2.02 2,697 42 20 0.83 1.19 Citi 10 2.57 1,435 14 4 7.85 -5.28 o China International Capital Corp 11 1.93 2,584 17 15 1.37 0.56 China Securities Co Ltd 11 2.26 1,265 7 23 0.79 1.47 l

China Merchants Securities 12 1.69 2,251 18 17 1.21 0.48 Southwest Securities Co Ltd 12 2.11 1,178 5 42 0.28 1.83 B Huatai Securities Co Ltd 13 1.62 2,170 12 31 0.40 1.22 China International Capital 13 2.01 1,123 10 16 1.47 0.54 China Securities Co Ltd 14 1.56 2,090 9 28 0.48 1.08 Corp Ping An Insurance Group Co 15 1.53 2,045 22 75 0.10 1.43 Haitong Securities Co Ltd 14 1.82 1,017 17 19 0.91 0.91 Everbright Securities Co 16 1.53 2,040 6 64 0.13 1.40 China Investment Corp 15 1.77 989 3 105 0.06 1.71 HSBC 17 1.44 1,928 14 13 1.83 -0.39 Bank of China 16 1.76 982 8 9 3.07 -1.31 Bank of America Merrill Lynch 18 1.33 1,775 12 10 2.25 -0.92 China Lion Securities Co Ltd 17 1.75 981 10 - - - NH Investment & Securities Co 19 1.28 1,707 20 - - - Huarong Securities Co Ltd 18 1.73 968 1 - - - Ltd China Construction Bank 19 1.72 960 7 26 0.70 1.02 Guosen Securities Co Ltd 20 1.24 1,661 19 21 0.78 0.46 Bangkok Bank PCL 20 1.69 945 3 82 0.09 1.60 TOTAL 100% 133,550 1,246 100% TOTAL 100% 55,928 526 100%

17 APAC ex-Japan Equity Linked APAC ex-Japan Equity, EQL & Rights ex-CH A Shrs 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014

Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) JP Morgan 1 28.77 2,267 8 6 6.12 22.65 Goldman Sachs 1 10.78 13,827 45 1 11.94 -1.16 Credit Suisse 2 15.18 1,196 3 1 10.61 4.57 UBS 2 10.52 13,482 66 4 7.99 2.53 KGI Securities Co Ltd 3 5.95 469 12 7 6.04 -0.09 Morgan Stanley 3 8.74 11,202 54 3 8.47 0.27 HSBC 4 5.80 457 4 3 8.91 -3.11 JP Morgan 4 6.10 7,818 37 6 6.64 -0.54 China Securities Co Ltd 5 4.91 387 1 11 2.43 2.48 Macquarie 5 5.38 6,897 36 10 3.10 2.28 Bank of America Merrill Lynch 6 4.49 354 3 8 3.63 0.86 Credit Suisse 6 4.91 6,300 44 5 7.13 -2.22 CIMB 7 2.68 211 3 20 1.24 1.44 Citi 7 4.23 5,420 35 2 9.25 -5.02 Morgan Stanley 8 2.54 200 1 12 2.31 0.23 Bank of America Merrill Lynch 8 2.96 3,793 19 8 3.27 -0.31 Fubon Financial Holding Co Ltd 9 2.52 198 2 25 0.91 1.61 Deutsche Bank 9 2.81 3,602 19 7 6.26 -3.45 Guosen Securities Co Ltd 10 2.46 193 1 32 0.60 1.86 CITIC Securities Co Ltd 10 2.39 3,060 23 11 1.88 0.51 5 1 Yuanta Securities Co Ltd 11 2.45 193 10 26 0.87 1.58 HSBC 11 2.10 2,686 22 9 3.23 -1.13 0 Shinyoung Securities Co Ltd 12 1.74 137 1 43 0.29 1.45 Haitong Securities Co Ltd 12 1.82 2,334 34 36 0.36 1.46 2 Mega Securities Co Ltd 13 1.68 133 10 52 0.18 1.50 China International Capital Corp 13 1.53 1,960 11 18 1.00 0.53

DBS Group 14 1.62 128 2 31 0.60 1.02 Kingston Financial Group Ltd 14 1.47 1,888 65 30 0.42 1.05 Q

Hong Leong Investment Bank 15 1.58 125 3 - - - China Merchants Securities 15 1.34 1,717 11 23 0.56 0.78 3

Bhd NH Investment & Securities Co 16 1.33 1,707 20 - - - t Masterlink Securities 16 1.40 110 1 51 0.19 1.21 Ltd s 1

Standard Chartered Bank 17 1.33 105 2 10 2.79 -1.46 China Construction Bank 17 1.31 1,675 14 12 1.69 -0.38 |

CTBC Financial Holding Co Ltd 18 1.09 86 4 53 0.15 0.94 Kotak Mahindra Bank Ltd 18 1.23 1,580 14 34 0.38 0.85 y

Barclays 19 1.06 83 1 30 0.63 0.43 Nomura 19 1.20 1,539 18 43 0.26 0.94 t i

China Construction Bank 20 0.92 73 1 - - - JM Financial Ltd 20 1.12 1,430 11 29 0.42 0.70 u

TOTAL 100% 7,879 109 100% TOTAL 100% 128,212 1,265 100% q E

l a b o l G

g r e b m o o l B

18 Australia/New Zealand Equity, EQL & Rights Australia/New Zealand Equity & Rights Offerings 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014

Mkt Volume (USD Deal Prev Prev Mkt Mkt Volume (USD Deal Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) UBS 1 22.85 6,545 34 1 20.43 2.42 UBS 1 23.11 6,545 34 1 20.45 2.66 Macquarie 2 19.51 5,590 29 3 13.55 5.96 Macquarie 2 19.73 5,590 29 3 13.57 6.16 Goldman Sachs 3 19.29 5,526 11 2 17.41 1.88 Goldman Sachs 3 19.51 5,526 11 2 17.42 2.09 Morgan Stanley 4 11.27 3,229 11 5 8.69 2.58 Morgan Stanley 4 11.40 3,229 11 5 8.70 2.70 Bank of America Merrill Lynch 5 6.24 1,787 3 7 4.29 1.95 Bank of America Merrill Lynch 5 5.71 1,616 2 7 4.29 1.42 Citi 6 4.78 1,370 6 4 13.02 -8.24 Citi 6 4.84 1,370 6 4 13.03 -8.19 Deutsche Bank 7 3.79 1,087 7 6 4.67 -0.88 Deutsche Bank 7 3.84 1,087 7 6 4.67 -0.83 JP Morgan 8 3.63 1,041 7 59 0.01 3.62 JP Morgan 8 3.15 891 6 57 0.01 3.14 Credit Suisse 9 1.52 434 6 8 3.57 -2.05 Credit Suisse 9 1.53 434 6 8 3.57 -2.04 Bell Potter Securities Limited 10 0.80 229 12 17 0.50 0.30 Bell Potter Securities Limited 10 0.81 229 12 17 0.50 0.31 5 1 Morgans 11 0.57 163 16 14 0.71 -0.14 Morgans 11 0.58 163 16 14 0.71 -0.13 0 Commonwealth Bank 12 0.49 141 5 11 1.45 -0.96 Commonwealth Bank 12 0.50 141 5 11 1.45 -0.95 2

Australia Australia

Ord Minnett Ltd 13 0.37 106 3 26 0.15 0.22 Ord Minnett Ltd 13 0.37 106 3 26 0.15 0.22 Q

Baillieu Holst Ltd 14 0.36 104 5 19 0.42 -0.06 Baillieu Holst Ltd 14 0.37 104 5 19 0.42 -0.05 3

Taylor Collison Ltd 15 0.35 101 6 15 0.56 -0.21 Taylor Collison Ltd 15 0.36 101 6 15 0.56 -0.20 t Canaccord Genuity 16 0.29 84 6 10 1.98 -1.69 Canaccord Genuity 16 0.30 84 6 10 1.98 -1.68 s 1

EarlyBirdCapital Inc 17 0.29 83 1 - - - EarlyBirdCapital Inc 17 0.29 83 1 - - - |

ORIX Corp 18 0.28 79 10 28 0.12 0.16 ORIX Corp 18 0.28 79 10 28 0.12 0.16 y

Lonsec Ltd 19 0.26 75 2 51 0.01 0.25 Lonsec Ltd 19 0.26 75 2 50 0.01 0.25 t i

Forsyth Barr Ltd 20 0.25 72 3 24 0.32 -0.07 Forsyth Barr Ltd 20 0.25 72 3 24 0.32 -0.07 u

TOTAL 100% 28,643 236 100% TOTAL 100% 28,323 234 100% q E

China Equity, Equity Linked & Rights China Equity IPO l a 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014 b o

Mkt Volume (CNY Deal Prev Prev Mkt Mkt Share Mkt Volume (CNY Deal Prev Prev Mkt Mkt Share l Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) G

CITIC Securities Co Ltd 1 10.77 65,172 30 6 5.30 5.47 Everbright Securities Co 1 8.75 12,760 6 15 1.75 7.00

Guotai Junan Securities Co Ltd 2 7.17 43,380 26 3 6.29 0.88 Ping An Insurance Group Co 2 8.22 11,985 12 - - - China Securities Co Ltd 3 5.28 31,977 26 1 12.12 -6.84 Huatai Securities Co Ltd 3 7.60 11,082 8 6 5.27 2.33 UBS 4 5.27 31,873 8 37 0.39 4.88 UBS 4 6.92 10,086 3 16 1.73 5.19 g r Southwest Securities Co Ltd 5 5.23 31,676 25 7 5.00 0.23 CITIC Securities Co Ltd 5 6.36 9,277 8 2 10.82 -4.46 e China Merchants Securities 6 4.53 27,400 23 18 2.01 2.52 Guosen Securities Co Ltd 6 5.96 8,690 17 3 10.23 -4.27 b Goldman Sachs 7 3.82 23,131 3 24 1.18 2.64 Southwest Securities Co Ltd 7 5.02 7,317 5 13 2.22 2.80

Guosen Securities Co Ltd 8 3.58 21,655 32 5 5.47 -1.89 China Securities Co Ltd 8 4.34 6,336 6 5 5.27 -0.93 m

Huatai Securities Co Ltd 9 3.43 20,779 24 8 4.56 -1.13 China Lion Securities Co Ltd 9 4.19 6,108 10 - - - o

Ping An Insurance Group Co 10 3.31 20,035 14 61 0.05 3.26 Huarong Securities Co Ltd 10 4.12 6,012 1 - - - o Haitong Securities Co Ltd 11 2.99 18,079 24 2 6.54 -3.55 China Investment Corp 10 4.12 6,012 1 - - - l

China International Capital Corp 12 2.95 17,872 9 13 2.78 0.17 Sinolink Securities Co Ltd 12 2.83 4,130 9 17 1.69 1.14 B Deutsche Bank 13 2.90 17,537 7 15 2.21 0.69 China International Capital Corp 13 2.66 3,877 6 8 3.26 -0.60 China Investment Securities Co 14 2.33 14,097 8 42 0.27 2.06 GF Securities 14 2.64 3,856 12 1 10.92 -8.28 Ltd China Merchants Securities 15 2.58 3,766 8 4 8.90 -6.32 Everbright Securities Co 15 2.23 13,471 7 43 0.26 1.97 Guotai Junan Securities Co Ltd 16 2.19 3,196 4 10 2.94 -0.75 GF Securities 16 2.04 12,373 26 4 5.54 -3.50 Haitong Securities Co Ltd 17 2.06 3,000 9 9 3.11 -1.05 Sinolink Securities Co Ltd 17 1.55 9,408 19 16 2.19 -0.64 Industrial Securities Co Ltd 18 1.57 2,296 5 29 0.92 0.65 China Investment Corp 18 1.53 9,260 6 11 2.90 -1.37 China Investment Securities Co 19 1.44 2,107 4 38 0.37 1.07 Industrial Securities Co Ltd 19 1.49 9,018 16 25 1.16 0.33 Ltd Huarong Securities Co Ltd 20 1.27 7,712 2 22 1.55 -0.28 Shenwan Hongyuan Group Co Ltd 20 1.43 2,085 4 27 0.93 0.50 TOTAL 100% 605,191 484 100% TOTAL 100% 145,832 191 100%

19 Hong Kong Equity & Rights Offerings Hong Kong Equity Offerings 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014

Mkt Volume (USD Deal Prev Prev Mkt Mkt Volume (USD Deal Prev Prev Mkt Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) Morgan Stanley 1 11.05 6,105 34 2 10.36 0.69 Morgan Stanley 1 11.58 6,105 34 2 11.06 0.52 UBS 2 8.80 4,860 19 4 7.17 1.63 UBS 2 9.22 4,860 19 3 8.05 1.17 Goldman Sachs 3 5.99 3,308 21 1 11.99 -6.00 Goldman Sachs 3 6.28 3,308 21 1 12.89 -6.61 Credit Suisse 4 5.18 2,860 14 14 2.07 3.11 Credit Suisse 4 5.41 2,850 13 11 2.32 3.09 JP Morgan 5 4.74 2,616 10 12 2.28 2.46 CITIC Securities Co Ltd 5 4.85 2,557 14 8 4.34 0.51 CITIC Securities Co Ltd 6 4.65 2,567 15 8 4.18 0.47 JP Morgan 6 4.85 2,557 9 15 1.85 3.00 Haitong Securities Co Ltd 7 4.23 2,334 34 19 1.41 2.82 Haitong Securities Co Ltd 7 4.01 2,115 32 16 1.58 2.43 China International Capital 8 3.55 1,960 11 9 3.93 -0.38 China International Capital 8 3.72 1,960 11 7 4.41 -0.69 Corp Corp

Kingston Financial Group Ltd 9 3.39 1,871 64 17 1.63 1.76 HSBC 9 3.29 1,736 10 6 6.01 -2.72 5 HSBC 10 3.14 1,736 10 3 8.03 -4.89 China Merchants Securities 10 3.12 1,644 10 12 2.05 1.07 1 0 China Merchants Securities 11 2.98 1,644 10 13 2.14 0.84 China Construction Bank 11 3.04 1,602 13 4 7.43 -4.39 2

China Construction Bank 12 2.90 1,602 13 5 6.62 -3.72 Citi 12 3.00 1,583 9 10 2.90 0.10

Citi 13 2.87 1,583 9 10 3.16 -0.29 Kingston Financial Group Ltd 13 2.53 1,336 48 19 1.18 1.35 Q

China Securities Co Ltd 14 2.23 1,230 4 41 0.29 1.94 Macquarie 14 2.32 1,223 2 17 1.43 0.89 3

Macquarie 15 2.22 1,223 2 20 1.27 0.95 Bank of China 15 2.13 1,123 9 5 6.29 -4.16 t Bank of China 16 2.03 1,123 9 6 5.92 -3.89 China Merchants Bank 16 2.07 1,093 8 33 0.43 1.64 s 1

China Merchants Bank 17 1.98 1,093 8 34 0.38 1.60 Agricultural Bank of China Ltd 17 2.06 1,087 6 27 0.69 1.37 |

Agricultural Bank of China Ltd 18 1.97 1,087 6 27 0.62 1.35 China Securities Co Ltd 18 2.03 1,068 3 39 0.32 1.71 y

Nomura 19 1.67 920 9 30 0.49 1.18 Nomura 19 1.67 880 8 29 0.55 1.12 t i

Bank of Communications 20 1.63 900 12 23 0.93 0.70 Bank of Communications 20 1.63 860 11 22 1.04 0.59 u

TOTAL 100% 55,227 432 100% TOTAL 100% 52,710 381 100% q E

India Equity & Rights Offering Indonesia Equity & Rights Offering l a 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014 b o

Mkt Volume (INR Deal Prev Prev Mkt Mkt Share Firm Rank Mkt Share(%) Volume (IDR Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) l Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%)

UBS 1 40.48 4,802,250 2 12 1.64 38.84 G Goldman Sachs 1 25.83 257,067 5 13 2.82 23.01 Bahana Securities 2 12.33 1,463,106 4 6 4.98 7.35

Citi 2 10.19 101,376 12 2 14.21 -4.02 Indo Premier Securities 3 11.99 1,422,510 2 20 0.82 11.17

Kotak Mahindra Bank Ltd 3 10.05 99,964 14 4 6.53 3.52 Danareksa Sekuritas PT 4 6.58 780,956 2 1 22.57 -15.99 g JM Financial Ltd 4 9.13 90,853 11 5 6.52 2.61 Mandiri Sekuritas PT 4 6.58 780,956 2 7 4.71 1.87 r Bank of America Merrill Lynch 5 6.63 65,988 7 6 5.81 0.82 CITIC Securities Co Ltd 6 6.17 731,417 3 8 3.10 3.07 e Deutsche Bank 6 5.25 52,232 3 10 4.08 1.17 Macquarie 7 4.63 549,660 2 - - - b Credit Suisse 7 5.21 51,836 6 16 1.86 3.35 RHB 8 3.44 407,812 2 18 1.00 2.44

Axis Bank Ltd 8 4.63 46,062 16 8 4.69 -0.06 Nomura 9 1.71 202,432 1 - - - m

State Bank of India 9 2.99 29,762 9 14 2.57 0.42 Sinarmas Securities PT 9 1.71 202,432 1 11 2.39 -0.68 o

ICICI 10 2.62 26,025 12 12 3.18 -0.56 Citi 9 1.71 202,432 1 13 1.46 0.25 o l Nomura 11 2.11 20,981 2 - - - CIMB 12 1.53 181,757 1 - - -

JP Morgan 12 1.93 19,190 5 1 14.47 -12.54 Lautandhana Securindo PT 13 0.84 100,000 1 - - - B CITIC Securities Co Ltd 13 1.77 17,588 3 3 8.67 -6.90 Semesta Indovest PT 14 0.29 34,500 1 - - - Edelweiss Financial Services Ltd 14 1.39 13,851 8 20 0.83 0.56 ------Morgan Stanley 15 1.38 13,772 3 15 2.38 -1.00 ------UBS 16 1.19 11,847 2 7 5.24 -4.05 ------HSBC 17 1.18 11,712 3 9 4.30 -3.12 ------Barclays 18 1.12 11,138 3 ------IDFC Capital Ltd 19 0.74 7,375 5 17 1.16 -0.42 ------Infrastructure Leasing & Financial 20 0.54 5,367 1 - - - TOTAL 100% 11,862,220 13 100% Services TOTAL 100% 995,111 102 100%

20 Japan Equity & Equity Linked (Fiscal Year) Japan Equity Offerings (Fiscal Year) 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014

Mkt Firm Rank Mkt Share(%) Volume (JPY Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Share(%) Volume (JPY Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Morgan Stanley 1 23.21 442,922 18 5 8.35 14.86 Morgan Stanley 1 22.13 505,422 21 6 6.77 15.36 Daiwa Securities 2 15.88 302,945 23 3 16.18 -0.30 Daiwa Securities 2 16.22 370,445 28 3 17.18 -0.96 Nomura 3 15.16 289,374 32 1 25.05 -9.89 Nomura 3 16.06 366,874 36 1 32.97 -16.91 Sumitomo Mitsui Financial 4 12.86 245,462 34 2 19.71 -6.85 Sumitomo Mitsui Financial 4 15.39 351,462 38 2 17.64 -2.25 Mizuho Financial 5 9.49 181,055 19 4 10.68 -1.19 Mizuho Financial 5 10.33 236,055 22 4 8.70 1.63 JP Morgan 6 8.38 159,922 4 8 2.85 5.53 JP Morgan 6 7.00 159,922 4 8 2.17 4.83 Goldman Sachs 7 6.97 133,060 4 6 7.09 -0.12 Goldman Sachs 7 6.15 140,560 5 5 6.91 -0.76 UBS 8 4.56 87,048 7 9 2.64 1.92 UBS 8 3.81 87,048 7 9 2.01 1.80 Bank of America Merrill Lynch 9 2.12 40,421 3 7 5.63 -3.51 Bank of America Merrill 9 1.77 40,421 3 7 4.28 -2.51 Citi 10 0.52 9,970 2 10 1.13 -0.61 5 Lynch Macquarie 11 0.35 6,756 1 - - - 1 Citi 10 0.44 9,970 2 10 0.86 -0.42 Ichiyoshi Securities Co Ltd 12 0.29 5,538 6 11 0.32 -0.03 0 Macquarie 11 0.30 6,756 1 - - -

SBI Holdings Inc/Japan 13 0.13 2,436 2 12 0.19 -0.06 2

Ichiyoshi Securities Co Ltd 12 0.24 5,538 6 11 0.24 0.00 Tokai Tokyo Securities Co Ltd 14 0.04 748 1 15 0.02 0.02

SBI Holdings Inc/Japan 13 0.11 2,436 2 12 0.14 -0.03 Toyo Securities Co Ltd 15 0.02 363 1 14 0.04 -0.02 Q

Tokai Tokyo Securities Co Ltd 14 0.03 748 1 15 0.01 0.02 3

Okasan Securities Group Inc 16 0.01 234 2 - - - t Toyo Securities Co Ltd 15 0.02 363 1 14 0.03 -0.01 ------Okasan Securities Group Inc 16 0.01 234 2 - - - s

------1

------|

------y

------t TOTAL 100% 1,908,251 112 100% i

------u

TOTAL 100% 2,284,251 124 100% q E

Japan Equity IPO (Fiscal Year) Korea Equity Offerings l a 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014 b o

Firm Rank Mkt Share(%) Volume (JPY Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Mkt Volume (KRW Deal Prev Prev Mkt Mkt Share l Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%)

Daiwa Securities 1 31.95 62,985 6 5 7.41 24.54 G NH Investment & Securities Co Ltd 1 30.05 1,937,835 20 - - - Nomura 2 26.73 52,688 14 1 27.39 -0.66

Morgan Stanley 3 23.19 45,704 3 2 25.63 -2.44 Citi 2 12.06 777,322 3 1 19.83 -7.77

Sumitomo Mitsui Financial 4 13.88 27,358 10 4 8.80 5.08 Credit Suisse 3 8.71 561,573 4 2 14.56 -5.85 g Mizuho Financial 5 2.88 5,676 5 3 11.69 -8.81 Daewoo Securities Co Ltd 4 7.91 510,343 9 4 10.02 -2.11 r Ichiyoshi Securities Co Ltd 6 0.50 985 2 9 1.42 -0.92 Korea Investment & Securities Co 5 7.54 486,048 12 8 2.35 5.19 e Tokai Tokyo Securities Co 7 0.38 748 1 14 0.10 0.28 JP Morgan 6 5.08 327,600 1 9 1.81 3.27 b Ltd Morgan Stanley 7 3.36 216,933 1 11 1.76 1.60

SBI Holdings Inc/Japan 8 0.38 742 1 12 0.68 -0.30 Samsung Securities Co Ltd 8 3.35 216,033 5 5 9.33 -5.98 m

Okasan Securities Group Inc 9 0.12 234 2 - - - KB Investment & Securities Co Ltd 9 3.27 211,150 4 16 0.83 2.44 o

------Deutsche Bank 10 2.99 193,017 2 - - - o ------Hana Financial Group Inc 11 2.90 186,801 6 13 1.57 1.33 l

------Daiwa Securities 12 1.76 113,500 1 - - - B ------Hanwha Investment & Securities Co 13 1.70 109,547 5 ------Ltd ------Daishin Securities 14 1.50 96,885 5 ------Shinhan Investment Corp 15 1.21 77,880 2 ------UBS 16 1.05 67,855 1 6 9.08 -8.03 ------Nomura 17 0.89 57,140 2 14 1.50 -0.61 ------Goldman Sachs 18 0.68 43,875 1 3 11.21 -10.53 ------Kiwoom Securities Co Ltd 19 0.44 28,400 3 - - - TOTAL 100% 197,119 42 100% Macquarie 20 0.35 22,638 1 15 1.48 -1.13 TOTAL 100% 6,448,006 91 100%

21 Malaysia Equity & Rights Offering Singapore Equity & Rights Offering 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014

Mkt Volume (MYR Deal Prev Prev Mkt Mkt Share Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) CIMB 1 25.06 2,532 12 1 14.68 10.38 DBS Group 1 30.86 440 10 5 11.51 19.35 Maybank 2 14.57 1,472 15 3 13.64 0.93 Credit Suisse 2 11.06 158 2 9 2.58 8.48 RHB 3 12.11 1,224 11 4 10.31 1.80 UBS 3 7.14 102 1 16 1.22 5.92 Credit Suisse 4 10.50 1,061 2 2 13.99 -3.49 Citi 4 5.34 76 2 2 12.80 -7.46 JP Morgan 5 5.88 594 3 12 1.71 4.17 Bank of Philippine Islands 5 5.27 75 1 - - - AmInvestment Bank Bhd 6 5.07 512 11 5 8.87 -3.80 Morgan Stanley 6 4.50 64 1 15 1.33 3.17 HSBC 7 4.04 408 2 - - - HSBC 6 4.50 64 1 4 12.29 -7.79 Hong Leong Investment Bank Bhd 8 3.55 358 3 6 6.71 -3.16 CITIC Securities Co Ltd 6 4.50 64 1 22 0.63 3.87 Affin Hwang Capital 9 2.81 284 4 9 3.79 -0.98 Bank of America Merrill Lynch 9 4.50 64 1 3 12.48 -7.98 Bank of America Merrill Lynch 10 2.46 249 1 7 6.18 -3.72 PrimePartners Corporate Finance Pte 10 3.17 45 3 12 1.61 1.56 5 1 Nomura 10 2.46 249 1 - - - Ltd 0 Deutsche Bank 10 2.46 249 1 - - - Maybank 11 2.79 40 2 21 0.78 2.01 2 Morgan Stanley 10 2.46 249 1 - - - Barclays 12 2.41 34 1 19 1.05 1.36

Kenanga Investment Bank Bhd 14 2.31 234 6 10 3.42 -1.11 Religare Capital Markets 13 2.37 34 1 20 0.82 1.55 Q

Public Bank Berhad 15 1.02 103 5 19 0.57 0.45 CIMB 14 2.16 31 2 13 1.61 0.55 3

M&A Securities Sdn Bhd 16 0.91 91 7 16 0.88 0.03 RHB 15 1.71 24 3 17 1.11 0.60 t s Alliance Bank Malaysia Bhd 17 0.75 75 5 22 0.36 0.39 United Overseas Bank 16 1.69 24 1 14 1.39 0.30 1

Oversea-Chinese Banking Corp 17 1.65 23 1 10 2.55 -0.90

MIDF Amanah Investment Bank 18 0.71 72 4 - - - | Bhd Standard Chartered Bank 18 1.14 16 1 7 4.06 -2.92 y

TA Securities Holdings Bhd 19 0.63 63 10 21 0.45 0.18 Canaccord Genuity 19 0.93 13 2 23 0.61 0.32 t i

KAF Investment Bank Bhd 20 0.22 23 12 20 0.54 -0.32 UOB Kay Hian 20 0.85 12 3 11 1.73 -0.88 u

TOTAL 100% 10,102 86 100% TOTAL 100% 1,426 31 100% q E

Taiwan Equity & Equity Linked Thailand Equity & Rights Offering l a 1st 3Q 2015 1st 3Q 2014 1st 3Q 2015 1st 3Q 2014 b o

Mkt Volume (TWD Deal Prev Prev Mkt Mkt Share Mkt Volume (THB Deal l Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Firm Rank Share(%) Mln) Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) G

KGI Securities Co Ltd 1 21.34 20,176 24 1 23.00 -1.66 Bangkok Bank PCL 1 24.92 35,310 6 4 9.50 15.42

Yuanta Securities Co Ltd 2 16.15 15,263 24 7 5.11 11.04 Morgan Stanley 2 19.41 27,500 1 - - - Masterlink Securities 3 9.52 8,996 6 22 0.68 8.84 Siam Commercial Bank PCL 3 15.84 22,441 2 6 6.47 9.37 Fubon Financial Holding Co Ltd 4 8.11 7,665 5 5 7.53 0.58 JP Morgan 4 15.64 22,151 1 - - - g r Grand Fortune Securities Co 5 6.38 6,033 8 6 5.36 1.02 Maybank 5 6.38 9,033 6 2 18.76 -12.38 e Mega Securities Co Ltd 6 4.38 4,142 12 21 0.73 3.65 Kasikornbank PCL 6 4.52 6,399 3 3 10.22 -5.70 b Goldman Sachs 7 4.11 3,884 1 4 8.07 -3.96 Credit Suisse 7 2.58 3,661 1 - - -

Cathay Securities Co Ltd 8 3.82 3,612 10 11 2.77 1.05 Finansa Securities Ltd 8 2.38 3,371 1 - - - m

Sinopac Securities Corp 9 3.62 3,423 12 14 1.80 1.82 Tisco Securities Co Ltd 8 2.38 3,371 1 - - - o

Barclays 10 3.41 3,225 1 18 0.87 2.54 KT ZMICO Securities Co Ltd 8 2.38 3,371 1 5 7.10 -4.72 o Capital Securities Corp 11 3.32 3,136 7 13 2.13 1.19 Asia Plus Securities 11 0.71 1,005 1 8 2.49 -1.78 l

CTBC Financial Holding Co Ltd 12 3.06 2,891 7 16 1.02 2.04 Finansia Syrus Securities 12 0.67 955 2 9 2.22 -1.55 B Taiwan Cooperative Financial Holding 13 2.43 2,293 10 20 0.74 1.69 PCL Co Ltd Country Group Securities PCL 13 0.64 907 1 20 0.27 0.37 Concord Securities 14 2.39 2,255 5 15 1.26 1.13 CIMB 14 0.45 638 1 11 1.50 -1.05 Taishin Financial Holding Co Ltd 15 2.05 1,934 10 8 4.04 -1.99 Phillip Securities Pte Ltd 15 0.43 611 3 18 0.56 -0.13 President Securities 16 1.88 1,781 5 24 0.38 1.50 Trinity Securities Co Ltd 16 0.30 428 2 - - - First Securities Inc 17 1.75 1,657 7 25 0.24 1.51 Nomura 17 0.22 308 2 17 0.61 -0.39 Bank Taiwan Securities 18 0.63 600 1 - - - UOB Kay Hian 18 0.15 212 1 - - - Horizon Securities Co Ltd 19 0.50 477 2 10 3.46 -2.96 ------Hua Nan Commercial Bank 20 0.34 318 2 19 0.77 -0.43 ------TOTAL 100% 94,535 164 100% TOTAL 100% 141,671 31 100%

22 Bloomberg Equity & Equity Linked - League Tables Criteria

General Guidelines

Credit is based on the total amount of the offering sold to the public, including exercised over-allotment. Full credit is awarded to sole book-running manager or split equally among joint book-running managers.

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 hierarch titles, i.e. Jr Bookrunner. Note: Criteria may vary for some local and/or regional table.

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 calls, provisional calls, and provisional puts are exempt 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, pre-negotiated offerings, certain lower hierarch titles, i.e. Jr Bookrunner.

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

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.