Iberian Market April 2021 Montly Report

IBERIAN MARKET MONTHLY REPORT APRIL 2021

SPAIN DEAL OF THE MONTH Cellnex Telecom closes acquisition of 60% of Play's telecommunications sites network in Poland

PORTUGAL DEAL OF THE MONTH Sponsored by: Gigas closes acquisition of 100% of Oni In M&A success matters.

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PORTUGAL

SPAIN TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021

SPAIN TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 INDEX

INDEX OVERVIEW EQUITY CAPITAL MARKETS ***

(M&A*, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS) ** · IPOs OVERVIEW · Total Transaction Volume and Aggregate Value · Follow-On · Transactions by Size · Leading Subsectors PRIVATE EQUITY · Cross-border deals LARGEST TRANSACTIONS OF THE MONTH · Mergers & Acquisitions · Private Equity VENTURE PRIVATE EQUITY ** CAPITAL · Venture Capital · Total Transaction Volume and Aggregate Value · Leading Firms and Subsectors ASSET DEAL OF THE MONTH ACQUISITION Cellnex Telecom closes acquisition of 60% of Play's VENTURE CAPITAL ** telecommunications sites network in Poland EQUITY CAPITAL · Total Transaction Volume and Aggregate Value MARKETS · Leading Firms and Subsectors TTR RADAR LARGEST TRANSACTIONS ASSET ACQUISITION · Forward-looking Intelligence: - Aggregated Intelligence · Total Transaction Volume and Aggregate Value - Proprietary Intelligence DEAL OF THE MONTH · Leading Subsectors

RANKING YEAR TO DATE TTR RADAR · Financial Advisors · Legal Advisors RANKINGS * Includes acquisition / sales of assets. Does not include Joint Venture. · Dealmakers ** Includes announced and completed transactions in which at least one Spanish-based is involved. *** Includes transactions acted by Spanish companies in or abroad. TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)

TOTAL TRANSACTION VOLUME AND AGGREGATE VALUE INDEX YEAR TO DATE DEAL FLOW SINCE 2020

50k OVERVIEW Total aggregate value (EURm): 40.706 190,17%

Number of transactions: 738 3,80% 25k Completed: 633 (86%) 8.242,40 PRIVATE Disclosed value: 309 (42%) EQUITY

Total value (EURm) 0k 3.340,82 500 Number of Transactions by Type VENTURE CAPITAL 317 258 250 189 203 200 213 204 211 170 153 87 121 108 210 ASSET ACQUISITION 0 Number of transactions 284

Jul 2020 Apr 2020May 2020Jun 2020 Aug 2020Sep 2020Oct 2020Nov 2020Dec 2020Jan 2021Feb 2021Mar 2021Apr 2021 EQUITY CAPITAL MARKETS

LARGEST Last Four Years (Jan-Dec) Last Four Years (Jan-Dec) TRANSACTIONS

121.025 31% 107.762 10% 176 2020 2018 71 2.320 -13% 2.622 13% DEAL OF

THE MONTH 92.644 -14% 97.609 24% 2019 2017 2.668 2% 2.323 15% M&A Private Equity

RANKINGS Venture Capital Asset Acquisition Total aggregate value (EURm) Number of transactions - Total: 176 | 2.226 EURm - Total: 210 | 3.251 EURm - Ongoing: 4 | 622 EURm - Ongoing: 29 | 539 EURm - Completed: 172 | 1.604 EURm - Completed: 181 | 2.713 EURm TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)

TRANSACTIONS BY SIZE INDEX Number of transactions Total value

100 100 OVERVIEW 4,85% 4,66% 4,87% 4,04% 3,69% 3,20% 3,95% 3,62% 2,42% 4,40% 8,53% 9,55% 7,77% PRIVATE 11,80% 9,78% EQUITY 80 80

13,67% 15,81% 12,09% 14,60% 52,79% 14,08% 59,28% VENTURE 64,65% CAPITAL 71,98% 12,37% 73,13% 60 11,80% 10,80% 60 11,29% 15,36%

ASSET ACQUISITION

40 40

EQUITY CAPITAL MARKETS 29,74% 56,52% 55,59% 56,52% 26,10% 52,76% 51,64% 24,89% LARGEST 20 20 TRANSACTIONS 17,84% 17,04%

6,13% 9,32% 4,29% 4,42% 5,05% DEAL OF 7,02% 6,71% THE MONTH 4,74% 4,64% 3,52% 0 0 2017 2018 2019 2020 Year To Date 2017 2018 2019 2020 Year To Date

TTR RADAR

> EUR 500m EUR 1m - EUR 10m

RANKINGS EUR 100m - EUR 500m < EUR 1m

EUR 50m - EUR 100m Condential Value / Not Disclosed

EUR 10m - EUR 50m TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)

LEADING SUBSECTORS * INDEX Subsectors with most deals (M&A) ** Change relative to the Number of transactions Year to date same period in 2020 OVERVIEW Real Estate 151 -11%

Technology 145 7%

PRIVATE EQUITY Financial and Insurance 55 2%

Consultancy, Audit and Engineeri… 50 28%

VENTURE CAPITAL Number of transactions this month

Technology 32

ASSET ACQUISITION Real Estate 30

Consultancy, Audit and Engineeri… 17

Financial and Insurance 14 EQUITY CAPITAL MARKETS

2017 2018 2019 2020

LARGEST TRANSACTIONS Real Estate 619 Real Estate 750 Real Estate 670 Real Estate 497

DEAL OF Technology 287 Technology 327 Technology 393 Technology 423 THE MONTH

Financial and Financial and Financial and 190 Healthcare, H… 192 193 164 Insurance Insurance Insurance TTR RADAR

Consultancy, Internet 164 Internet 169 Audit and 149 Healthcare, H… 153 Engineering RANKINGS

* TTR considers the most active subsectors to be those that had the highest number of registered transactions. Should there be a tie between subsectors, the subsector that registered the higher value will dominate. ** The transaction may appear in more than one subsector, given that the same entity may operate in multiple subsectors. % All the percentages represent a variation relative to the same period the previous year. TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)

CROSS-BORDER DEALS * INDEX Number of transactions

OVERVIEW 2017 2018 2019 2020 2021 - Year to date

US-based acquirers of spanish companies 162 182 12,35% 189 3,85% 155 -17,99% 46 9,52%

Foreign acquisitions in the technology and internet 105 119 13,33% 135 13,45% 151 11,85% 50 -1,96% PRIVATE subsector EQUITY Foreign Private Equity and Venture Capital Funds investing 113 120 6,19% 120 0,00% 102 -15,00% 36 38,46% in spanish companies

VENTURE CAPITAL Since 2010 1.412 1.357 US-based companies are the most ASSET 1.237 ACQUISITION acquisitive in the spanish market. 1.193

Internet and technology companies have been the most attractive to foreign

EQUITY CAPITAL investors by deal volume. MARKETS

762 708 672 675 LARGEST TRANSACTIONS Domestic

Inbound acquisitions **

Outbound acquisitions *** 364 368 334 DEAL OF 307 THE MONTH Sale of foreign subsidiaries **** 270 212 215 212 Divestment - Foreign-owned stake ***** 170 170 116 95 109 97 101 TTR RADAR 28 47

2017 2018 2019 2020 2021 - Year to date

RANKINGS * Any M&A transaction that involves a buyer, seller or target based outside of Spain. ** Foreign companies acquiring Spanish-based targets. Since December 2018 this analysis includes acquisitions made by local subsidiaries of foreign entities. *** Spanish-based companies acquiring targets abroad. Since December 2018 this analysis includes acquisitions made by foreign subsidiaries of Spanish-based entities. **** Spanish-based companies selling foreign subsidiaries. Since December 2018 this analysis includes sales made by foreign subsidiaries of Spanish-based entities. ***** Foreign companies selling interest in Spanish-based companies. Since December 2018 this analysis includes sales made by foreign subsidiaries of Spanish-based entities. % All the percentages represent a variation relative to the same period the previous year. TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)

CROSS-BORDER DEALS * INDEX Year to date

OVERVIEW OUTBOUND ACQUISITIONS INBOUND ACQUISITIONS

No. Total value (EURm) No. Total value (EURm) PRIVATE Total 116 10.341,58 Total 212 25.978,06 EQUITY Ongoing 16 8.563,84 Ongoing 40 22.200,41 Completed 100 1.777,74 Completed 172 3.777,65

VENTURE CAPITAL Outbound acquisitions *** Inbound acquisitions ** Ranking per Country **** Ranking per Country **** ASSET ACQUISITION TARGET COUNTRY No. Total value (EURm) BIDDER COUNTRY No. Total value (EURm)

United States 23 920,35 United States 46 10.917,39 Portugal 12 499,72 United Kingdom 42 4.044,12 EQUITY CAPITAL MARKETS France 11 5.371,91 France 36 6.497,66 United Kingdom 10 103,85 Germany 23 1.585,22 Italy 7 50,00 Italy 15 98,75 LARGEST TRANSACTIONS Colombia 7 20,65 Sweden 13 324,05 Germany 7 11,50 Netherlands 12 349,40 Mexico 6 557,48 Switzerland 11 22,49 DEAL OF THE MONTH Brazil 5 16,18 Luxembourg 9 5.001,18 Argentina 4 17,93 Canada 6 357,00

TTR RADAR

* Any M&A transaction that involves a buyer, seller or target based outside of Spain. ** Foreign companies acquiring Spanish-based targets. Since December 2018 this analysis includes acquisitions made by local subsidiaries of foreign entities. *** Spanish-based companies acquiring targets abroad. Since December 2018 this analysis includes acquisitions made by foreign subsidiaries of Spanish-based entities. RANKINGS **** The same deal may appear under multiple subsectors and countries based on a companies operations and the number of parties involved in a given transaction. TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)

CROSS-BORDER DEALS * INDEX Year to date

OVERVIEW OUTBOUND ACQUISITIONS INBOUND ACQUISITIONS

No. Total value (EURm) No. Total value (EURm) PRIVATE Total 116 10.341,58 Total 212 25.978,06 EQUITY Ongoing 16 8.563,84 Ongoing 40 22.200,41 Completed 100 1.777,74 Completed 172 3.777,65

VENTURE CAPITAL

Outbound acquisitions *** Inbound acquisitions **

ASSET Leading subsectors **** Leading subsectors **** ACQUISITION US PT FR UK IT CO DE MX BR AR US UK FR DE IT SE NL CH LU CA

Technology 6 1 2 5 1 2 3 2 1 1 Real Estate 5 12 5 13 2 1 1 1 1 EQUITY CAPITAL MARKETS Financial and Insurance 2 1 1 1 1 2 Technology 14 5 7 2 4 2 1 4 2 2 Real Estate 3 1 1 2 Financial and Insurance 5 2 4 3 1 2 1 2 Healthcare, Hygiene, Medical Aesthetics and Cosmetics 2 1 1 1 Internet 9 7 3 4 2 3 1 LARGEST TRANSACTIONS Consultancy, Audit and Engineering 1 1 1 1 1 Solar 1 5 1 1 2 5 2 Solar 2 1 1 1 1 Healthcare, Hygiene, Medical Aesthetics and Cosmetics 1 2 4 2 1 1 1 Pharmaceutical, Parapharmaceutical and Cosmetics 2 1 1 1 Distribution and Retail 4 1 3 1 1 1

DEAL OF Telecoms 2 1 Food 2 4 1 1

THE MONTH Internet 2 2 1 Glass, Ceramic, Paper, Plastics, Wood and Timber 5 1 1 1 1 1 Other Services 2 1 Consultancy, Audit and Engineering 1 1 3 1 1 1 1

TTR RADAR

* Any M&A transaction that involves a buyer, seller or target based outside of Spain. ** Foreign companies acquiring Spanish-based targets. Since December 2018 this analysis includes acquisitions made by local subsidiaries of foreign entities. RANKINGS *** Spanish-based companies acquiring targets abroad. Since December 2018 this analysis includes acquisitions made by foreign subsidiaries of Spanish-based entities. **** The same deal may appear under multiple subsectors and countries based on a companies operations and the number of parties involved in a given transaction. TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021

PRIVATE EQUITY

TOTAL TRANSACTION VOLUME AND AGGREGATE VALUE INDEX

YEAR TO DATE LAST FOUR YEARS (JAN-DEC)

OVERVIEW Total aggregate value (EURm): 3.961 33,70% Total Total Number of transactions: 71 54,35% 19.101 -40% 31.511 -31% Completed: 52 (73%) 2020 2018 215 -25% 282 15% PRIVATE Disclosed value: 14 (20%) EQUITY 31.995 2% 45.451 185% 2019 2017 285 1% 245 34%

VENTURE Scope CAPITAL Domestic Domestic

18 556 -71% 938 -18% 2020 2018 ASSET -19% 31% ACQUISITION 79 114

1.890 101% 1.147 108% 2019 2017 98 -14% 87 32%

EQUITY CAPITAL MARKETS Cross-border Cross-border

LARGEST 18.546 -38% 30.573 -31% TRANSACTIONS 2020 2018 136 -27% 168 6% 53 30.104 -2% 44.304 187% 2019 2017 DEAL OF 187 11% 158 35% THE MONTH

Domestic Cross-border

RANKINGS TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021

PRIVATE EQUITY - Investment

LEADING FIRMS AND SUBSECTORS * INDEX Year to date Change relative to the Private Equity Country Nº Value (EURm) same period in 2020 OVERVIEW 1 Providence Equity Partners United States 7 1.995,47 Technology 10 150% 2 KKR United States 4 2.489,22

3 PAI Partners France 3 30,00 Healthcare, Hygiene, PRIVATE 4 Magnum Capital Spain 3 - EQUITY Medical Aesthetics and 8 100% Cosmetics 5 Cinven United Kingdom 2 1.995,47

6 Meridia Capital Spain 2 9,35

7 Blackstone United States 2 - VENTURE Food 6 - CAPITAL 7 Carlyle United States 2 -

Glass, Ceramic, Paper, 7 CVC Capital Partners Luxembourg 2 - Plastics, Wood and 6 100% 7 Miura Partners Spain 2 - ASSET Timber ACQUISITION 7 Sherpa Capital Spain 2 -

8 Cornerstone Partners Poland 1 335,94

EQUITY CAPITAL MARKETS

2017 2018 2019 2020 LARGEST TRANSACTIONS

Healthcare, … 26 Healthcare, … 57 Healthcare, … 29 Solar 21

DEAL OF THE MONTH Financial and 18 Real Estate 23 Solar 27 Healthcare, … 20 Insurance

Tourism, TTR RADAR Distribution Financial and Hotels and 16 19 Food 25 18 and Retail Insurance Restaurants

Financial and Financial and RANKINGS Real Estate 15 17 21 Technology 17 Insurance Insurance

PRIVATE EQUITY - Divestment (Exits)

LEADING FIRMS AND SUBSECTORS * INDEX Year to date Change relative to the Private Equity Country Nº Value (EURm) same period in 2020 OVERVIEW 1 Magnum Capital Spain 3 205,00 Food 4 - 2 EQT Sweden 2 425,00

3 Artá Capital Spain 1 320,00 Glass, Ceramic, Paper, PRIVATE 4 Santander Energías Renovables I Spain 1 84,19 EQUITY Plastics, Wood and 3 200% Timber 4 Taiga Mistral Gestión Spain 1 84,19

5 Everwood Capital Spain 1 22,00 Consultancy, Audit and 3 - 6 Sherpa Capital Spain 1 15,00 VENTURE Engineering CAPITAL 7 Suma Capital Spain 1 5,80

8 Abac Capital Spain 1 -

Internet 2 100% 8 Capza France 1 - ASSET ACQUISITION 8 CorpnCapital Spain 1 -

8 Espiga Capital Spain 1 -

8 HIG Europe United Kingdom 1 - EQUITY CAPITAL MARKETS 8 MBO Partenaires France 1 -

8 MCH Private Equity Spain 1 -

8 Mediterrània Capital Spain 1 - LARGEST TRANSACTIONS 8 Meridia Capital Spain 1 -

8 Miura Partners Spain 1 -

8 Nazca Capital Spain 1 - DEAL OF THE MONTH 8 Torsa Capital Spain 1 -

8 Vallis Capital Partners Portugal 1 -

TTR RADAR

RANKINGS TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021

INDEX

OVERVIEW

PRIVATE EQUITY

VENTURE CAPITAL

ASSET * TTR considers the most active subsectors to be those that had the highest number of registered transactions. Should there be a tie between subsectors, the subsector that registered the higher value will dominate. ACQUISITION

EQUITY CAPITAL MARKETS

LARGEST TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR

RANKINGS TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021

VENTURE CAPITAL

TOTAL TRANSACTION VOLUME AND AGGREGATE VALUE INDEX

YEAR TO DATE LAST FOUR YEARS (JAN-DEC)

OVERVIEW Total aggregate value (EURm): 2.226 484,11% Total Total Number of transactions: 176 18,12% 8.408 280% 2.129 46% Completed: 172 (98%) 2020 2018 564 9% 447 22% PRIVATE Disclosed value: 137 (78%) EQUITY 2.213 4% 1.462 -2% 2019 2017 517 16% 367 23%

VENTURE Scope CAPITAL Domestic Domestic

321 -13% 211 20% 2020 2018 ASSET 10% 21% ACQUISITION 366 294

368 75% 176 -3% 72 2019 2017 334 14% 242 20%

EQUITY CAPITAL MARKETS Cross-border Cross-border 104

LARGEST 8.086 338% 1.918 49% TRANSACTIONS 2020 2018 197 8% 153 22%

1.844 -4% 1.286 -2% 2019 2017 DEAL OF 183 20% 125 29% THE MONTH

Domestic Cross-border

RANKINGS TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021

VENTURE CAPITAL - Investment

LEADING FIRMS AND SUBSECTORS * INDEX Year to date Change relative to the same period in 2020 OVERVIEW Technology 83 6% Venture Capital Country Nº Value (EURm)

1 Wayra Spain 10 3,50

2 Inveready Capital Spain 8 11,11 PRIVATE Internet 27 23% EQUITY 3 Sodena Spain 8 2,84

4 GoHub Spain 8 2,33

5 Encomenda Smart Capital Spain 7 11,60 VENTURE Biotechnology 20 82% CAPITAL 6 Aldea Opportunity Fund I Spain 6 14,67

7 BStartup 10 Spain 6 5,32

Financial and Insurance 17 42% 8 Seaya Ventures Spain 5 540,37 ASSET ACQUISITION

EQUITY CAPITAL MARKETS

2017 2018 2019 2020

LARGEST TRANSACTIONS Technology 169 Technology 198 Technology 239 Technology 263

DEAL OF THE MONTH Internet 109 Internet 118 Internet 97 Internet 87

Financial and Financial and Financial and 27 31 54 Biotechnology 68 TTR RADAR Insurance Insurance Insurance

Distribution Financial and 27 Biotechnology 26 Biotechnology 37 45 and Retail Insurance RANKINGS

VENTURE CAPITAL - Divestment (Exits)

LEADING FIRMS AND SUBSECTORS * INDEX Year to date Change relative to the Venture Capital Country Nº Value (EURm) same period in 2020 OVERVIEW 1 Nauta Capital Spain 1 371,38 Technology 5 400% 2 Alma Mundi Ventures Spain 1 249,23

2 Bonsai Venture Capital Spain 1 249,23

PRIVATE 2 Craft Ventures United States 1 249,23 EQUITY Internet 1 -50% 3 Realiza Business Angels Spain 1 14,00

4 360 Capital Partners France 1 -

4 Angels Capital Spain 1 - VENTURE Financial and Insurance 1 - CAPITAL 4 Axon Partners Group Spain 1 -

Healthcare, Hygiene, 4 Bewater Funds Spain 1 - Medical Aesthetics and 1 - 4 Breega Capital France 1 - ASSET Cosmetics ACQUISITION 4 BSF 16 Spain 1 -

4 Gorla Ventures Spain 1 -

4 Idinvest Partners France 1 - EQUITY CAPITAL MARKETS 4 JME Venture Capital Spain 1 -

4 Kibo Ventures Spain 1 -

4 Lánzame Capital Spain 1 - LARGEST TRANSACTIONS 4 Ricari Spain 1 -

4 Sabadell Venture Capital Spain 1 -

4 Samaipata Ventures Spain 1 - DEAL OF THE MONTH 4 Sputnik Ventures Spain 1 -

4 VenturCap Spain 1 -

TTR RADAR

RANKINGS TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021

INDEX

OVERVIEW

PRIVATE EQUITY

VENTURE CAPITAL

EQUITY CAPITAL MARKETS

LARGEST TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR

RANKINGS TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021

ASSET ACQUISITION

TOTAL TRANSACTION VOLUME AND AGGREGATE VALUE INDEX

YEAR TO DATE LAST FOUR YEARS (JAN-DEC)

OVERVIEW Total aggregate value (EURm): 3.251 13,36% Total Total Number of transactions: 210 -3,67% 24.694 23% 16.699 73% Completed: 181 (86%) 2020 2018 639 -24% 867 14% PRIVATE Disclosed value: 85 (40%) EQUITY 20.039 20% 9.680 -44% 2019 2017 843 -3% 761 20%

VENTURE Scope CAPITAL Domestic Domestic

3.171 -51% 3.388 -0% 2020 2018 ASSET -26% 27% ACQUISITION 348 540

6.441 90% 3.389 28% 2019 2017 468 -13% 425 19%

EQUITY CAPITAL 102 MARKETS 108 Cross-border Cross-border

LARGEST 21.523 58% 13.312 112% TRANSACTIONS 2020 2018 291 -22% 327 -3%

13.598 2% 6.290 -57% 2019 2017 DEAL OF 375 15% 336 21% THE MONTH

Domestic Cross-border

TTR RADAR - Total: 108 | 577 EURm - Total: 102 | 2.674 EURm - Ongoing: 10 | 107 EURm - Ongoing: 19 | 431 EURm % All the percentages represent a variation relative to the same period the previous year. - Completed: 98 | 470 EURm - Completed: 83 | 2.242 EURm Total aggregate value (EURm) Number of transactions

RANKINGS TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021

ASSET ACQUISITION

LEADING SUBSECTORS * INDEX Year to date Change relative to the same period in 2020 OVERVIEW Real Estate 129 -13%

PRIVATE EQUITY Solar 21 163%

Tourism, Hotels and VENTURE 16 33% Restaurants CAPITAL

Financial and Insurance 11 22% ASSET ACQUISITION

EQUITY CAPITAL MARKETS

2017 2018 2019 2020

LARGEST TRANSACTIONS Real Estate 521 Real Estate 664 Real Estate 581 Real Estate 417

DEAL OF Tourism, Tourism, THE MONTH Hotels and 68 Healthcare, … 60 Hotels and 59 Solar 48 Restaurants Restaurants Tourism, Financial and Financial and Financial and 63 Hotels and 53 47 29 TTR RADAR Insurance Insurance Insurance Restaurants

Financial and Food 26 43 Solar 35 Healthcare, … 27 Insurance RANKINGS

EQUITY CAPITAL MARKETS IPOs * FOLLOW-ON *

INDEX Year to date Year to date

OVERVIEW Number of transactions Total Value (EURm) Number of transactions Total Value (EURm) 100 1.344

PRIVATE 2 EQUITY 6

VENTURE CAPITAL 10 4

ASSET 1.475 ACQUISITION 8.653

Completed Pipeline EQUITY CAPITAL MARKETS

Last Four Years (Jan-Dec) Last Four Years (Jan-Dec)

LARGEST TRANSACTIONS 258 -74% 9.280 42% 2020 2020 21 -22% 47 -8%

DEAL OF 1.001 16% 6.547 93% THE MONTH 2019 2019 27 -7% 51 13%

TTR RADAR 866 -76% 3.391 -65% 2018 2018 29 4% 45 -13%

RANKINGS 3.684 23% 9.563 76% 2017 2017 28 - 52 24%

Total aggregate value (EURm) Number of transactions % All the percentages represent a variation relative to the same period the previous year.

* Includes transactions acted by Spanish companies in Spain or abroad. TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 LARGEST TRANSACTIONS OF THE MONTH

INDEX MERGERS & ACQUISITIONS

Value Target Country Subsector Buyer Seller (EURm)

OVERVIEW Consultancy, Audit and 5.580,00 Energía y Servicios Dinsa II Spain VINCI Group ACS Engineering (Approx.)

Portfolio de activos de energía Spain Solar Northland Power, NP Development Projects Helia Renovables 345,00 eólica y solar con 540 MW

PRIVATE SPV Dos parques eólicos en United Wind Greencoat Capital EDP Renewables North America 332,63 EQUITY US States

United Private Shareholders I, Alma Mundi Ventures, Bonsai Venture Capital, Craft Returnly Internet Arm 249,23 States Ventures

VENTURE Dos terrenos en Madrid Spain Real Estate Kronos Investment Group, Nuveen Private Shareholders I 150,00 CAPITAL

PRIVATE EQUITY ASSET ACQUISITION Value Target Country Subsector Buyer Seller (EURm)

Glass, Ceramic, Paper, JZ International (The Jordan Company), AXA IM - Real Assets, Circularity PackBenet Spain 20,00 Plastics, Wood and Timber Capital EQUITY CAPITAL MARKETS

VENTURE CAPITAL

Value LARGEST Target Country Subsector Buyer Seller (EURm) TRANSACTIONS Seaya Ventures, Drake Enterprises, Cathay Innovation, GP Bullhound, Glovo Spain Distribution and Retail 450,00 Delivery Hero, Lugard Road Capital, Luxor Capital Group

United Bonsai Venture Capital, Private Shareholders I, Alma Mundi Ventures, Craft DEAL OF Returnly Internet Arm 249,23 THE MONTH States Ventures Tourism, Hotels and Spark Capital Partners, Kinnevik, Felix Capital, DST Global, Amplo, Target TravelPerk Spain 132,05 Restaurants Global, Greyhound Capital, LocalGlobe, Heartcore

United Temasek Holdings, Connect Ventures, Northzone, Anthemis Group, Mouro TTR RADAR TrueLayer Technology 58,80 Kingdom Capital, Addition

Ysios Capital Partners, Gilde Healthcare, RA Capital Management, Adcendo Denmark Biotechnology 51,00 HealthCap, Novo Seeds RANKINGS TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 DEAL OF THE MONTH

January February March April May June

INDEX Activos tecnológicos Target: Idealista Target: Bankia SPV Propietaria Red 7.000 Target: Target: especializados del negocio Emplazamientos de Target: Buyer: Apax Partners Buyer: CaixaBank Target: Buyer: Buyer: de servicios de pago para Telecomunicaciones en Value: EUR 250,00m EUR 4.300,00m Value: Value: comercios Value: Polonia (Approx.) OVERVIEW Buyer: Banco Santander Buyer: Cellnex Telecom Value: EUR 100,00m Value: EUR 800,00m

July August September October November December PRIVATE Target: Target: Target: Target: Target: Target: EQUITY Buyer: Buyer: Buyer: Buyer: Buyer: Buyer: Value: Value: Value: Value: Value: Value:

VENTURE SPV Propietaria Red 7.000 Emplazamientos de Telecomunicaciones en Polonia CAPITAL Full Transaction Details Cellnex Telecom closes acquisition of 60% of Play's telecommunications sites network in Poland

Parties ASSET Target: SPV Propietaria Red 7.000 Emplazamientos de Telecomunicaciones en Polonia ACQUISITION Description: SPV. FINANCIAL DATA EQUITY CAPITAL Buyer % Seller % Total Value Payment

Cellnex Telecom 60,00% Play 60,00% EUR 800,00m (Cash) EUR 800,00m MARKETS

Ultimate Owner (Seller) TRANSACTIONS Iliad LARGEST Advisors / Due Diligence Parties Financial Advisory People Cellnex Telecom AZ Capital DEAL OF THE MONTH Cellnex Telecom PwC España

Parties Legal Advisory People Cellnex Telecom Cliord Chance Begoña Barrantes Díaz (Counsel), Guillermo Guardia (Partner), José María Vilaseca (Senior Associate) TTR RADAR Agnieszka Janicka (Partner), Agnieszka Wojtasiewicz (Counsel), Iwona Terlecka (Counsel), Jarosław Lorenc (Counsel), Krzysztof Hajdamowicz (Counsel), Tomasz Szymura (Counsel), Cellnex Telecom Cliord Chance Poland Łukasz Targoński (Senior Associate), Anna Łyczakowska (Senior Associate), Joanna Kamińska (Senior Associate), Aleksandra Mielcarek (Associate), Katarzyna Aleksandrowicz (Associate), Katarzyna Kuchta (Associate), Nikoletta Kozioł (Associate), Oliwia Hutnik (Associate) Cliord Chance RANKINGS Cellnex Telecom Christian Kremer (Partner), Lauren Harris (Lawyer), Nazim Faid (Associate) Luxembourg Cellnex Telecom Cliord Chance UK Alex Nourry (Partner), Chandralekha Ghosh (Senior Associate), Sam Parry (Associate) Herbert Smith Freehills Cellnex Telecom Christophe Lefort (Partner), Cyril Boulignat (Of Counsel), Edouard Thomas (Partner), Thomas Herman (Senior Associate), Frédéric Tual (Lawyer) France TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021

INDEX Parties Legal Advisory People

Cellnex Telecom PwC Tax & Legal España Iliad Bredin Prat Aurélien Jolly (Counsel), Florence Haas (Partner), Julien Gayral (Partner), Laetitia Tombarello (Partner), Olivier Assant (Partner), Samuel Pariente (Partner), Yelena Trifounovitch

OVERVIEW (Partner), Anne-Sophie Arbide-Vignarte (Associate), Apolline Vanackère (Associate), Clémence Carlier (Associate), Léa Francis (Associate), Marine Blottiaux (Associate), Paul Cauchin (Lawyer), Thibault Sire (Associate), Vincent Delcourt (Associate)

Parties Due Diligence People Cellnex Telecom PwC España PRIVATE EQUITY

VENTURE CAPITAL

ASSET ACQUISITION

EQUITY CAPITAL

MARKETS

TRANSACTIONS

LARGEST

DEAL OF THE MONTH

TTR RADAR

RANKINGS TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 TTR RADAR

FORWARD-LOOKING INTELLIGENCE

INDEX Opportunities by Intelligence Type and Volume - April 2021

OVERVIEW Acquisition Finance Venture Capital Advisory Appointment Takeover Asset Sale/Acquisition

Strategic Management Change Auction PRIVATE EQUITY Startup Acceleration Business Expansion 40 Identify early stage M&A opportunities with TTR

VENTURE Public Tender/Concession Capital Increase/Funding Round Radar, delivering CAPITAL actionable proprietary and aggregated intelligence. Project Finance Changes in Control 20 ASSET ACQUISITION TTR RADAR Privatization Companies for Sale Aggregated Intelligence

EQUITY CAPITAL 0 Vivenio analyzes capital MARKETS Private Equity Exit Companies Looking for Investor.. increase of between EUR 400m and EUR 600m

LARGEST Private Equity Companies Looking to Buy TRANSACTIONS

pre-IPO Crowdfunding TTR RADAR

DEAL OF Proprietary Intelligence THE MONTH Partnerships & Alliances Distressed/Restructuring TaxDown planning Series A round in 3Q21

TTR RADAR New PE/VC funds Foreign Direct Investment (FDI..

New Mandate Opportunity High Growth RANKINGS New Business Vertical Infrastructure Merger Market Entry Market Exit TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021

INDEX

OVERVIEW RANKING

PRIVATE YEAR TO DATE EQUITY

VENTURE CAPITAL

ASSET ACQUISITION

EQUITY CAPITAL MARKETS

LARGEST TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR Financial Advisors

RANKINGS Legal Advisors Dealmakers TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 RANKING YEAR TO DATE

M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS INDEX Consultants: Financial Advisors + Due Diligence By total value of transactions By nº of transactions

Ranking Total value Number of Ranking Variation Ranking Number of Total value Ranking Variation nº Consultants Consultants OVERVIEW 2021 (EURm) transactions 2020 Total value (%) 2021 transactions (EURm) 2020 Of transactions 1 PwC España 12.591,64 24 1 317,51 1 EY España (Ernst & Young) 28 8.622,48 3 13 2 EY España (Ernst & Young) 8.622,48 28 2 648,77 2 PwC España 24 12.591,64 1 -4 3 KPMG España 59,00 9 4 -78,55 3 KPMG España 9 59,00 4 -2 PRIVATE EQUITY 4 Deloitte España 33,00 6 3 -93,30 4 Deloitte España 6 33,00 2 -12 5 Grant Thornton (España) 1 - * *

VENTURE Consultants: Financial Advisors CAPITAL By total value of transactions By nº of transactions

Ranking Total value Number of Ranking Variation Ranking Number of Total value Ranking Variation nº Consultants Consultants ACQUISITION 2021 (EURm) transactions 2020 Total value (%) 2021 transactions (EURm) 2020 Of transactions

ASSET 1 PwC España 12.591,64 21 1 317,51 1 PwC España 21 12.591,64 1 -6 2 EY España (Ernst & Young) 8.093,35 16 3 2.401,37 2 EY España (Ernst & Young) 16 8.093,35 3 5

EQUITY CAPITAL 3 KPMG España 59,00 7 4 -78,55 3 KPMG España 7 59,00 4 -3 4 Deloitte España 33,00 5 2 -93,30 4 Deloitte España 5 33,00 2 -13 5 Grant Thornton (España) 1 - * * MARKETS

TRANSACTIONS Consultants: Due Diligence LARGEST By total value of transactions By nº of transactions

Ranking Total value Number of Ranking Variation Ranking Number of Total value Ranking Variation nº Consultants Consultants 2021 (EURm) transactions 2020 Total value (%) 2021 transactions (EURm) 2020 Of transactions 1 EY España (Ernst & Young) 8.533,48 25 2 703,80 1 EY España (Ernst & Young) 25 8.533,48 2 12 DEAL OF 2 PwC España 6.986,37 17 1 203,79 2 PwC España 17 6.986,37 1 4 THE MONTH 3 KPMG España 2 - 3 -1 4 Deloitte España 1 - * *

TTR RADAR Consultants: Legal Advisors By total value of transactions By nº of transactions

Ranking Total value Number of Ranking Variation Ranking Number of Total value Ranking Variation nº RANKINGS Consultants Consultants 2021 (EURm) transactions 2020 Total value (%) 2021 transactions (EURm) 2020 Of transactions 1 PwC Tax & Legal España 5.212,30 5 1 152,75 1 PwC Tax & Legal España 5 5.212,30 1 -9 2 EY Abogados España 44,35 5 4 * 2 EY Abogados España 5 44,35 4 4 3 Deloitte Legal 1,40 4 2 -99,64 3 Deloitte Legal 4 1,40 2 -7 TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 RANKING YEAR TO DATE

M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS INDEX Financial Advisors

OVERVIEW By total value of transactions

Variation Buy-Side Sell-Side Ranking 2021 Financial Advisor Total value (EURm) Number of transactions Ranking 2020 Total value (%) (EURm) (EURm) 1 J.P. Morgan Chase International Holdings 7.352,47 4 * * 5.200,00 2.152,47 PRIVATE 2 BNP Paribas 7.195,47 2 7 1.909,91 7.195,47 - EQUITY 3 Citigroup 6.916,87 2 8 2.025,00 - 6.916,87 4 AZ Capital 6.796,37 5 1 310,11 6.796,37 - 5 Credit Suisse Group 4.921,40 1 * * 4.921,40 - VENTURE 6 Barclays Bank 1.995,47 1 * * 1.995,47 - CAPITAL 6 Goldman Sachs 1.995,47 1 * * 1.995,47 - 7 Astris Finance 1.104,67 1 * * 1.104,67 - 7 Banco BTG Pactual 1.104,67 1 30 * - 1.104,67 ASSET ACQUISITION 7 JPMorgan Chase & Co. 1.104,67 1 * * - 1.104,67 8 FTI Consulting 500,00 1 * * 500,00 - 9 Banco Itaú BBA 493,75 1 * * 493,75 - 10 Macquarie Group 371,38 1 * * - 371,38 EQUITY CAPITAL MARKETS

LARGEST TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR

This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the RANKINGS country analyzed. M&A Rankings include transactions of any stake and with a deal value of at least EUR 1 million (for transactions reported in EUR), USD 1 million (for transactions reported in USD), GBP 1 million (for transaction reported in GBP), BRL 5 million (for transactions reported in BRL). League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here. TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 RANKING YEAR TO DATE

M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS INDEX Financial Advisors

OVERVIEW By nº of transactions

Variation nº Ranking 2021 Financial Advisor Number of transactions Total value (EURm) Ranking 2020 Buy-Side Sell-Side Of transactions 1 AZ Capital 5 6.796,37 1 1 5 - PRIVATE 2 Arcano Partners 5 - 4 2 1 4 EQUITY 3 J.P. Morgan Chase International Holdings 4 7.352,47 * * 2 2 4 Norgestión 4 15,00 * * 1 3 5 Rothschild 3 320,00 30 2 1 2 VENTURE 6 You are Capital 3 - 12 1 - 3 CAPITAL 7 BNP Paribas 2 7.195,47 16 1 2 - 8 Citigroup 2 6.916,87 17 1 - 2 9 BBVA 2 26,40 7 0 1 1 ASSET ACQUISITION 10 Bondo Advisors 2 5,20 * * 2 -

EQUITY CAPITAL MARKETS

LARGEST TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR

M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS INDEX Legal Advisors

OVERVIEW By total value of transactions

Variation Buy-Side Sell-Side Ranking 2021 Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Total value (%) (EURm) (EURm) 1 Cliord Chance 9.141,84 6 2 249,64 3.561,84 5.580,00 PRIVATE 2 Allen & Overy Spain 8.945,00 7 4 246,85 8.020,00 925,00 EQUITY 3 Garrigues España 8.277,69 25 5 280,94 4,00 8.273,69 4 Cuatrecasas España 6.324,09 31 8 285,72 6.271,15 52,94 5 Herbert Smith Freehills Spain 5.435,00 6 17 5.938,89 5.230,00 205,00 VENTURE 6 Linklaters Spain 5.421,40 4 3 108,52 5.421,40 - CAPITAL 7 Freshelds Bruckhaus Deringer España 4.921,40 1 40 * - 4.921,40 8 Uría Menéndez España 3.623,10 14 6 71,48 1.125,63 2.497,47 9 Pérez-Llorca 3.091,44 21 1 8,78 176,78 2.914,66 ASSET ACQUISITION 10 Evergreen Legal 1.995,47 2 * * 1.995,47 -

By nº of transactions

Variation nº Ranking 2021 Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Buy-Side Sell-Side EQUITY CAPITAL Of transactions MARKETS 1 Cuatrecasas España 31 6.324,09 2 -1 18 13 2 Garrigues España 25 8.277,69 1 -11 13 12 3 Pérez-Llorca 21 3.091,44 4 0 6 15 LARGEST TRANSACTIONS 4 Uría Menéndez España 14 3.623,10 6 -2 11 3 5 DWF-RCD 14 40,12 5 -3 7 7 6 Gómez-Acebo & Pombo España 12 254,45 3 -10 9 3

DEAL OF 7 DLA Piper España 11 86,00 13 5 8 3 THE MONTH 8 CMS Albiñana & Suárez de Lezo 9 365,00 26 7 8 1 9 Lexcrea 8 17,40 20 4 4 4 10 Allen & Overy Spain 7 8.945,00 7 -3 4 3 TTR RADAR

PRIVATE EQUITY INDEX Financial Advisors

OVERVIEW By total value of transactions

Variation Buy-Side Sell-Side Ranking 2021 Financial Advisor Total value (EURm) Number of transactions Ranking 2020 Total value (%) (EURm) (EURm) 1 Barclays Bank 1.995,47 1 * * 1.995,47 - PRIVATE 1 BNP Paribas 1.995,47 1 * * 1.995,47 - EQUITY 1 Citigroup 1.995,47 1 * * - 1.995,47 1 Goldman Sachs 1.995,47 1 * * 1.995,47 - 1 J.P. Morgan Chase International Holdings 1.995,47 1 * * - 1.995,47 VENTURE 2 Banco Itaú BBA 493,75 1 * * 493,75 - CAPITAL 3 Rothschild 320,00 3 * * - 320,00 4 Perella Weinberg Partners 205,00 1 * * 205,00 - 5 AZ Capital 30,00 2 * * 30,00 - ASSET ACQUISITION 6 Baker Tilly (Iberia) 15,00 1 * * - 15,00

EQUITY CAPITAL MARKETS

LARGEST TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR

RANKINGS This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include acquisitions/sales of assets and joint ventures. At least one party in the transaction must be from the country analyzed. League tables exclusively for Private Equity and/or Venture Capital transactions have no restrictions on transaction value or stake acquired/sold. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. In transactions where the same advisor represents both Buy-side and Sell-side, the deal is credited only once as Buy-side. Sell- side includes advisory mandates for targets and sellers. For more information click here. TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 RANKING YEAR TO DATE

PRIVATE EQUITY INDEX Financial Advisors

OVERVIEW By nº of transactions

Variation nº Ranking 2021 Financial Advisor Number of transactions Total value (EURm) Ranking 2020 Buy-Side Sell-Side Of transactions 1 Rothschild 3 320,00 * * 1 2 PRIVATE 2 AZ Capital 2 30,00 * * 2 - EQUITY 3 Arcano Partners 2 - 1 0 - 2 3 Banco Sabadell 2 - * * 1 1 4 Barclays Bank 1 1.995,47 * * 1 - VENTURE 4 BNP Paribas 1 1.995,47 * * 1 - CAPITAL 4 Citigroup 1 1.995,47 * * - 1 4 Goldman Sachs 1 1.995,47 * * 1 - 4 J.P. Morgan Chase International Holdings 1 1.995,47 * * - 1 ASSET ACQUISITION 5 Banco Itaú BBA 1 493,75 * * 1 - 6 Perella Weinberg Partners 1 205,00 * * 1 - 7 Baker Tilly (Iberia) 1 15,00 * * - 1 8 Alantra 1 - 6 0 1 - EQUITY CAPITAL MARKETS 8 Altamar Capital Partners 1 - * * - 1 8 Banco Bradesco BBI 1 - * * - 1 8 Evercore Partners 1 - * * 1 - LARGEST 8 FIH Partners 1 - * * - 1 TRANSACTIONS 8 Fredericks Michael & Co 1 - * * 1 - 8 GBS Finance 1 - 1 -1 1 - 8 Intesa San Paolo 1 - * * 1 - DEAL OF THE MONTH 8 JQ Advisors 1 - * * 1 - 8 Norgestión 1 - 6 0 - 1 8 Scouting 1 - * * - 1

TTR RADAR 8 Socios Financieros 1 - * * 1 -

PRIVATE EQUITY INDEX Legal Advisors

OVERVIEW By total value of transactions

Variation Buy-Side Sell-Side Ranking 2021 Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Total value (%) (EURm) (EURm) 1 Uría Menéndez España 2.267,47 6 2 123,47 272,00 1.995,47 PRIVATE 2 Pérez-Llorca 2.079,66 3 1 89,06 - 2.079,66 EQUITY 3 Cliord Chance 1.995,47 2 5 334,13 1.995,47 - 4 Castañeda Abogados 1.995,47 1 * * 1.995,47 - 4 Evergreen Legal 1.995,47 1 * * 1.995,47 - VENTURE 5 Allen & Overy Spain 745,00 3 7 67,42 320,00 425,00 CAPITAL 6 Latham & Watkins España 493,75 2 8 174,30 - 493,75 7 King & Wood Mallesons España 320,00 2 14 * - 320,00 8 Herbert Smith Freehills Spain 235,00 6 15 * 30,00 205,00 ASSET ACQUISITION 9 Cuatrecasas España 205,00 8 10 677,99 205,00 - 10 CMS Albiñana & Suárez de Lezo 20,00 3 4 -95,72 20,00 -

By nº of transactions EQUITY CAPITAL Variation nº MARKETS Ranking 2021 Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Buy-Side Sell-Side Of transactions 1 Cuatrecasas España 8 205,00 4 4 6 2 2 Uría Menéndez España 6 2.267,47 3 2 5 1 LARGEST TRANSACTIONS 3 Herbert Smith Freehills Spain 6 235,00 15 5 2 4 4 Garrigues España 5 - 1 -1 5 - 5 DLA Piper España 4 15,00 13 3 3 1

DEAL OF 6 Pérez-Llorca 3 2.079,66 5 0 1 2 THE MONTH 7 Allen & Overy Spain 3 745,00 11 2 1 2 8 CMS Albiñana & Suárez de Lezo 3 20,00 7 1 3 - 9 Baker McKenzie España 3 - 9 1 1 2 TTR RADAR 10 Cliord Chance 2 1.995,47 8 0 2 -

VENTURE CAPITAL INDEX Financial Advisors

OVERVIEW By total value of transactions

Variation Buy-Side Sell-Side Ranking 2021 Financial Advisor Total value (EURm) Number of transactions Ranking 2020 Total value (%) (EURm) (EURm) 1 Macquarie Group 371,38 1 * * - 371,38 PRIVATE 2 J.P. Morgan Chase International Holdings 157,00 1 * * - 157,00 EQUITY 3 Delvy Asesores Legales 1,00 1 * * - 1,00 4 Lift 0,75 1 * * - 0,75

VENTURE By nº of transactions CAPITAL Variation nº Ranking 2021 Financial Advisor Number of transactions Total value (EURm) Ranking 2020 Buy-Side Sell-Side Of transactions 1 Macquarie Group 1 371,38 * * - 1 ASSET 2 J.P. Morgan Chase International Holdings 1 157,00 * * - 1 ACQUISITION 3 Delvy Asesores Legales 1 1,00 * * - 1 4 Lift 1 0,75 * * - 1 5 Capital & Gestión 1 - * * - 1 EQUITY CAPITAL 5 CDI Global Iberia 1 - * * - 1 MARKETS 5 Norgestión 1 - * * - 1

LARGEST TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR

VENTURE CAPITAL INDEX Legal Advisors

By total value of transactions OVERVIEW Variation Buy-Side Sell-Side Ranking 2021 Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Total value (%) (EURm) (EURm) 1 Latham & Watkins España 483,00 2 * * 483,00 - 2 Cuatrecasas España 469,88 4 22 * 455,88 14,00 PRIVATE EQUITY 3 Osborne Clarke Spain 157,50 3 21 * 157,00 0,50 4 Hogan Lovells España 157,00 1 * * 157,00 - 4 Uría Menéndez España 157,00 1 * * - 157,00 5 Bird & Bird España 100,00 1 6 419,48 - 100,00 VENTURE CAPITAL 5 White & Case España 100,00 1 * * 100,00 - 6 Pérez-Llorca 79,78 1 7 439,06 79,78 - 7 DWF-RCD 41,88 17 2 22,41 15,51 26,37

ASSET 8 Gómez-Acebo & Pombo España 19,50 3 3 -27,48 3,00 16,50 ACQUISITION 9 Jones Day España 15,00 1 * * 15,00 - 10 Across Legal 12,12 4 8 1,83 5,28 6,84

By nº of transactions EQUITY CAPITAL MARKETS Variation nº Ranking 2021 Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Buy-Side Sell-Side Of transactions 1 DWF-RCD 17 41,88 1 -3 7 10 LARGEST 2 Lexcrea 7 10,80 7 0 2 5 TRANSACTIONS 3 Garrigues España 5 3,70 6 -4 5 - 4 Lawesome 5 3,04 10 1 1 4 5 Cuatrecasas España 4 469,88 22 3 2 2 DEAL OF THE MONTH 6 Across Legal 4 12,12 3 -7 1 3 7 Andersen España 4 1,50 * * 2 2 8 Osborne Clarke Spain 3 157,50 13 1 1 2

TTR RADAR 9 Gómez-Acebo & Pombo España 3 19,50 8 -2 1 2 10 Latham & Watkins España 2 483,00 * * 2 -

EQUITY CAPITAL MARKETS INDEX Banks

OVERVIEW By total value of transactions

Variation Ranking 2021 Bank Total value (EURm) Number of transactions Ranking 2020 Total value (%) 1 Morgan Stanley 8.497,85 2 * * PRIVATE 2 Société Générale Group 7.198,85 3 * * EQUITY 3 Barclays Bank 7.102,85 2 * * 3 BBVA 7.102,85 2 * * 4 Banco Santander 7.098,85 2 * * VENTURE 5 Banco Sabadell 7.097,85 2 * * CAPITAL 5 CaixaBank 7.097,85 2 2 31.657,68 5 Crédit Agricole Corporate and Investment Bank 7.097,85 2 1 846,38 6 J.P. Morgan Chase International Holdings 6.997,85 2 1 833,05 ASSET ACQUISITION 7 BNP Paribas 6.997,85 1 * * 7 Deutsche Bank 6.997,85 1 * * 7 Goldman Sachs 6.997,85 1 * * 7 ING 6.997,85 1 * * EQUITY CAPITAL MARKETS 7 Intesa San Paolo 6.997,85 1 * * 7 Mediobanca 6.997,85 1 * * 7 Mizuho Bank 6.997,85 1 * * LARGEST 7 MUFG Bank 6.997,85 1 * * TRANSACTIONS 7 Natixis 6.997,85 1 * * 7 Unicredit 6.997,85 1 * * 8 Citigroup 1.500,00 1 1 100,00 DEAL OF THE MONTH 9 Berenberg Bank 424,20 1 * * 9 BofA Securities Europe 424,20 1 * * 10 Banco Cooperativo Español 100,00 1 * *

TTR RADAR 10 HSBC 100,00 1 * *

RANKINGS

This ranking was generated with transactions (IPO and Follow-on) announced in 2021 Year-to-Date. At least one party in the transaction must be from the country analyzed. In case of a draw, the adopted criteria will be the following: for a draw of the number of transactions, the total deal value prevails; for a draw of the deal value, the number of transactions prevails. When a draw of both deal number and deal value occurs, the original position will be maintained and the deals will be arranged alphabetically. For more information click here. TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 RANKING YEAR TO DATE

EQUITY CAPITAL MARKETS INDEX Banks

OVERVIEW By nº of transactions

Variation nº Ranking 2021 Bank Number of transactions Total value (EURm) Ranking 2020 Of transactions 1 Société Générale Group 3 7.198,85 * * PRIVATE 2 Morgan Stanley 2 8.497,85 * * EQUITY 3 Barclays Bank 2 7.102,85 * * 3 BBVA 2 7.102,85 * * 4 Banco Santander 2 7.098,85 * * VENTURE 5 Banco Sabadell 2 7.097,85 * * CAPITAL 5 CaixaBank 2 7.097,85 2 1 5 Crédit Agricole Corporate and Investment Bank 2 7.097,85 1 1 6 J.P. Morgan Chase International Holdings 2 6.997,85 1 1 ASSET ACQUISITION 7 BNP Paribas 1 6.997,85 * * 7 Deutsche Bank 1 6.997,85 * * 7 Goldman Sachs 1 6.997,85 * * 7 ING 1 6.997,85 * * EQUITY CAPITAL MARKETS 7 Intesa San Paolo 1 6.997,85 * * 7 Mediobanca 1 6.997,85 * * 7 Mizuho Bank 1 6.997,85 * * LARGEST 7 MUFG Bank 1 6.997,85 * * TRANSACTIONS 7 Natixis 1 6.997,85 * * 7 Unicredit 1 6.997,85 * * 8 Citigroup 1 1.500,00 1 0 DEAL OF THE MONTH 9 Berenberg Bank 1 424,20 * * 9 BofA Securities Europe 1 424,20 * * 10 Banco Cooperativo Español 1 100,00 * *

TTR RADAR 10 HSBC 1 100,00 * *

RANKINGS

EQUITY CAPITAL MARKETS INDEX Legal Advisors

OVERVIEW By total value of transactions

Variation Ranking 2021 Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Total value (%) 1 Uría Menéndez España 8.497,85 2 * * PRIVATE 2 Linklaters Spain 7.522,05 3 1 902,94 EQUITY 3 DLA Piper España 1.500,00 2 * * 4 King & Wood Mallesons España 1.500,00 1 * * 5 Garrigues España 1.456,58 2 * * VENTURE 6 Pérez-Llorca 1.099,00 3 * * CAPITAL 7 Gómez-Acebo & Pombo España 261,73 2 * * 8 Pinsent Masons España 223,84 1 * * 9 Cuatrecasas España 101,00 1 2 -57,22 ASSET ACQUISITION 10 Latham & Watkins España 100,00 1 * *

By nº of transactions

Variation nº Ranking 2021 Legal Advisor Number of transactions Total value (EURm) Ranking 2020 EQUITY CAPITAL Of transactions MARKETS 1 Linklaters Spain 3 7.522,05 2 2 2 Pérez-Llorca 3 1.099,00 * * 3 Uría Menéndez España 2 8.497,85 * * LARGEST TRANSACTIONS 4 DLA Piper España 2 1.500,00 * * 5 Garrigues España 2 1.456,58 * * 6 Gómez-Acebo & Pombo España 2 261,73 * *

DEAL OF 7 King & Wood Mallesons España 1 1.500,00 * * THE MONTH 8 Pinsent Masons España 1 223,84 * * 9 Cuatrecasas España 1 101,00 1 -6 10 Latham & Watkins España 1 100,00 * * TTR RADAR

RANKINGS

M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS INDEX Dealmakers - Financial Advisor

OVERVIEW By total value of transactions

Variation Buy-Side Sell-Side Ranking 2021 Dealmakers - Financial Advisor Total value (EURm) Number of transactions Ranking 2020 Total value (%) (EURm) (EURm) 1 Rafael Villas Boas Estrela (Astris Finance) 1.104,67 1 * * 1.104,67 - PRIVATE 1 Tobey S. Collins (Astris Finance) 1.104,67 1 * * 1.104,67 - EQUITY 2 Luis Antonio Ortiz Otero (RIóN M&A - Global M&A México) 25,27 1 * * - 25,27 2 Luis David (RIóN M&A - Global M&A México) 25,27 1 * * - 25,27 2 Martin Plettner (RIóN M&A - Global M&A México) 25,27 1 * * - 25,27 VENTURE 3 Oscar Sánchez Melgosa (Norgestión) 12,00 2 * * 12,00 - CAPITAL 4 Joshua Novick (Bondo Advisors) 5,20 2 * * 5,20 - 4 Pablo Pérez García Villoslada (Bondo Advisors) 5,20 2 * * 5,20 - 5 Alberto Álvarez Wilmanski (AW Investment Advisory) 4,89 1 * * - 4,89 ASSET ACQUISITION

EQUITY CAPITAL MARKETS

LARGEST TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR

M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS INDEX Dealmakers - Financial Advisor

OVERVIEW By nº of transactions

Variation nº Ranking 2021 Dealmakers - Financial Advisor Number of transactions Total value (EURm) Ranking 2020 Buy-Side Sell-Side Of transactions 1 Oscar Sánchez Melgosa (Norgestión) 2 12,00 * * 1 1 PRIVATE 2 Joshua Novick (Bondo Advisors) 2 5,20 * * 2 - EQUITY 2 Pablo Pérez García Villoslada (Bondo Advisors) 2 5,20 * * 2 - 3 Jorge Vasallo (Arcano Partners) 2 - 9 1 - 2 4 Rafael Villas Boas Estrela (Astris Finance) 1 1.104,67 * * 1 - VENTURE 4 Tobey S. Collins (Astris Finance) 1 1.104,67 * * 1 - CAPITAL 5 Luis Antonio Ortiz Otero (RIóN M&A - Global M&A México) 1 25,27 * * - 1 5 Luis David (RIóN M&A - Global M&A México) 1 25,27 * * - 1 5 Martin Plettner (RIóN M&A - Global M&A México) 1 25,27 * * - 1 ASSET ACQUISITION 6 Alberto Álvarez Wilmanski (AW Investment Advisory) 1 4,89 * * - 1 7 James Chapman-Andrews (Alantra) 1 - * * 1 - 7 Fernando Fontana (Arcano Partners) 1 - 9 0 - 1 7 Sofía Mendes (Arcano Partners) 1 - 9 0 1 - EQUITY CAPITAL MARKETS 7 Unai Castañón (Arcano Partners) 1 - 9 0 - 1 7 Carmelo de las Morenas (CDI Global Iberia) 1 - 7 0 - 1 7 Nicolás Gómez Saavedra (Inverlink) 1 - * * - 1 LARGEST 7 Jaime Rodríguez Petralanda (PKF Attest Corporate Finance) 1 - * * - 1 TRANSACTIONS 7 Lorena Ezquerra Oteo (PKF Attest Corporate Finance) 1 - * * - 1 7 Marco Musiani (Scouting) 1 - * * - 1

DEAL OF THE MONTH

TTR RADAR

M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS INDEX Dealmakers - Legal Advisors TTR's Dealmaker Rankings are comprised exclusively of partner-level advisors active in each given market.

OVERVIEW By total value of transactions

Variation Buy-Side Sell-Side Ranking 2021 Dealmakers - Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Total value (%) (EURm) (EURm)

PRIVATE 1 Antonio Martínez (Allen & Overy Spain) 8.200,00 3 1 229,45 7.700,00 500,00 EQUITY 1 Jaime Rodríguez Ordóñez (Allen & Overy Spain) 8.200,00 3 1 229,45 7.700,00 500,00 2 Álvaro López-Jorrín (Garrigues España) 7.700,00 3 4 460,82 - 7.700,00 3 Fernando Torrente (Allen & Overy Spain) 7.700,00 2 1 209,36 7.700,00 -

VENTURE 3 Teresa Méndez Flórez (Allen & Overy Spain) 7.700,00 2 1 209,36 7.700,00 - CAPITAL 3 Fernando Vives (Garrigues España) 7.700,00 2 4 460,82 - 7.700,00 3 Manuel Rodrìguez de Bethencourt (Garrigues España) 7.700,00 2 4 460,82 - 7.700,00 3 Rafael Calvo Salinero (Garrigues España) 7.700,00 2 4 460,82 - 7.700,00 ASSET 3 Susana Cabrera Zaragoza (Garrigues España) 7.700,00 2 4 460,82 - 7.700,00 ACQUISITION 4 Luis Alonso (Cliord Chance) 7.575,47 4 14 716,76 1.995,47 5.580,00 5 Jaime Almenar (Cliord Chance) 7.575,47 2 14 716,76 1.995,47 5.580,00 5 Javier García de Enterría (Cliord Chance) 7.575,47 2 14 716,76 1.995,47 5.580,00 EQUITY CAPITAL 6 José Luis Rodríguez Jiménez (Cuatrecasas España) 5.580,00 2 17 615,38 5.580,00 - MARKETS 6 Juan Aguayo (Cuatrecasas España) 5.580,00 2 17 615,38 5.580,00 - 7 Pablo Serrano de Haro (Cliord Chance) 5.580,00 1 14 501,62 - 5.580,00

LARGEST 7 Roberto Grau (Cliord Chance) 5.580,00 1 14 501,62 - 5.580,00 TRANSACTIONS 7 Andrew Ward (Cuatrecasas España) 5.580,00 1 17 615,38 5.580,00 - 8 José Giménez Cervantes (Linklaters Spain) 5.421,40 2 8 393,30 5.421,40 - 9 Alfonso de Marcos y González-Irún (Freshelds Bruckhaus Deringer España) 4.921,40 1 * * - 4.921,40 DEAL OF 9 Ana López (Freshelds Bruckhaus Deringer España) 4.921,40 1 * * - 4.921,40 THE MONTH 9 Armando Albarrán (Freshelds Bruckhaus Deringer España) 4.921,40 1 * * - 4.921,40 9 Ignacio Borrego (Freshelds Bruckhaus Deringer España) 4.921,40 1 * * - 4.921,40 9 Joe Amann (Freshelds Bruckhaus Deringer España) 4.921,40 1 * * - 4.921,40 TTR RADAR 9 Alejandro Meca (Linklaters Spain) 4.921,40 1 8 347,81 4.921,40 - 9 Alejandro Ortiz (Linklaters Spain) 4.921,40 1 8 347,81 4.921,40 - 9 Esteban Arza (Linklaters Spain) 4.921,40 1 8 347,81 4.921,40 - RANKINGS 9 Juan Barona (Linklaters Spain) 4.921,40 1 8 347,81 4.921,40 - 10 Begoña Barrantes Díaz (Cliord Chance) 1.995,47 3 14 115,15 1.995,47 - TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 RANKING YEAR TO DATE

M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS INDEX Dealmakers - Legal Advisors TTR's Dealmaker Rankings are comprised exclusively of partner-level advisors active in each given market.

OVERVIEW By nº of transactions

Variation nº Ranking 2021 Dealmakers - Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Buy-Side Sell-Side Of transactions

PRIVATE 1 Silvia Martínez Losas (Lexcrea) 8 17,40 12 4 4 4 EQUITY 2 Teresa Zueco (DLA Piper España) 7 74,00 10 3 6 1 3 Iñaki Frías (DWF-RCD) 7 19,14 5 2 5 2 4 Manuel Echenique Sanjurjo (Uría Menéndez España) 5 1.193,94 9 1 4 1 VENTURE 5 Javier Carvajal (Pérez-Llorca) 5 774,19 2 -3 - 5 CAPITAL 6 Luis Alonso (Cliord Chance) 4 7.575,47 16 1 2 2 7 Íñigo del Val (Allen & Overy Spain) 4 1.245,00 1 -5 1 3 8 Mariano Ucar (Cuatrecasas España) 4 25,27 8 0 3 1 ASSET ACQUISITION 9 Ignacio Cerrato Crespán (CMS Albiñana & Suárez de Lezo) 4 - * * 3 1 10 Antonio Martínez (Allen & Overy Spain) 3 8.200,00 1 -6 2 1 10 Jaime Rodríguez Ordóñez (Allen & Overy Spain) 3 8.200,00 1 -6 2 1

EQUITY CAPITAL MARKETS

LARGEST TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR

M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS INDEX Rising Star Dealmakers - Legal Advisors TTR's Rising Star Dealmaker Rankings are comprised exclusively of associate-level advisors active in each given market.

OVERVIEW By total value of transactions

Variation Buy-Side Sell-Side Ranking 2021 Rising Star Dealmakers - Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Total value (%) (EURm) (EURm)

PRIVATE 1 Bosco de Checa (Allen & Overy Spain) 7.700,00 2 1 335,03 7.700,00 - EQUITY 1 Aida González Hernández (Garrigues España) 7.700,00 2 13 1.613,97 - 7.700,00 1 Carlos Lozano Sanz Diez de Ulzurrun (Garrigues España) 7.700,00 2 13 1.613,97 - 7.700,00 1 Fernando Las Navas Tejedor (Garrigues España) 7.700,00 2 13 1.613,97 - 7.700,00

VENTURE 1 Javier Valderrama Serrato (Garrigues España) 7.700,00 2 13 1.613,97 - 7.700,00 CAPITAL 1 Juan Blanco San Pastor (Garrigues España) 7.700,00 2 13 1.613,97 - 7.700,00 1 Juan González Ortega (Garrigues España) 7.700,00 2 13 1.613,97 - 7.700,00 2 Marc Casas (Cliord Chance) 7.575,47 2 4 518,41 1.995,47 5.580,00 ASSET 2 Patricia Arribas (Cliord Chance) 7.575,47 2 4 518,41 1.995,47 5.580,00 ACQUISITION 2 Patricia Puertas Díaz (Cliord Chance) 7.575,47 2 4 518,41 1.995,47 5.580,00 3 Fernando Escribano Rived (Cliord Chance) 5.580,00 2 4 355,51 - 5.580,00 4 Aina Gómez (Cliord Chance) 5.580,00 1 4 355,51 - 5.580,00 EQUITY CAPITAL 4 Daniel García Juárez (Cliord Chance) 5.580,00 1 4 355,51 - 5.580,00 MARKETS 4 Eduardo Sanchez (Cliord Chance) 5.580,00 1 4 355,51 - 5.580,00 4 Javier Hermosilla (Cliord Chance) 5.580,00 1 4 355,51 - 5.580,00

LARGEST 4 Lucía Herrero (Cliord Chance) 5.580,00 1 4 355,51 - 5.580,00 TRANSACTIONS 4 Marta Martínez Cutillas (Cliord Chance) 5.580,00 1 4 355,51 - 5.580,00 4 Mónica Romero Martínez (Cliord Chance) 5.580,00 1 4 355,51 - 5.580,00 4 Pablo Murcia Rabadán (Cliord Chance) 5.580,00 1 4 355,51 - 5.580,00 DEAL OF 5 Patricia Álvarez (Linklaters Spain) 4.921,40 2 3 218,74 4.921,40 - THE MONTH 6 Ana Calvo Abril (Freshelds Bruckhaus Deringer España) 4.921,40 1 * * - 4.921,40 6 Carla Gómez Crespo (Freshelds Bruckhaus Deringer España) 4.921,40 1 * * - 4.921,40 6 Chelsey Kaka (Freshelds Bruckhaus Deringer España) 4.921,40 1 * * - 4.921,40 TTR RADAR 6 Isabel Villa (Freshelds Bruckhaus Deringer España) 4.921,40 1 * * - 4.921,40 6 Andrés Hernández Miñana (Linklaters Spain) 4.921,40 1 3 218,74 4.921,40 - 6 Jorge Toral (Linklaters Spain) 4.921,40 1 3 218,74 4.921,40 - RANKINGS 6 Ramiro Fernández (Linklaters Spain) 4.921,40 1 3 218,74 4.921,40 - 6 Ricardo Pérez Fabra (Linklaters Spain) 4.921,40 1 3 218,74 4.921,40 - 7 Álvaro López Hernández (Uría Menéndez España) 1.995,47 2 7 99,55 - 1.995,47 8 Ana Latorre (Cliord Chance) 1.995,47 1 4 62,90 1.995,47 -

This ranking was generated with transactions announced in 2021 Year-to-Date. The Rankings do not include joint ventures. At least one party in the transaction must be from the country analyzed. TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 RANKING YEAR TO DATE

OVERVIEW By nº of transactions

Variation nº Ranking 2021 Rising Star Dealmakers - Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Buy-Side Sell-Side Of transactions

PRIVATE 1 Ángel Martín García (Pérez-Llorca) 4 79,78 9 1 1 3 EQUITY 2 Robert Burgell Bonet (Lexcrea) 4 10,20 41 2 2 2 3 Alexia Alarcón Garrigasait (Garrigues España) 4 6,89 16 2 2 2 4 María del Pilar Villanueva (Latham & Watkins España) 3 976,75 24 1 2 1 VENTURE 5 Andrés Mochales Forero (Allen & Overy Spain) 3 425,00 2 -1 1 2 CAPITAL 6 Luis Enrique Mata Palacios (Garrigues España) 3 345,00 16 1 2 1 7 Beatriz Sánchez Rodríguez (Eversheds Sutherland) 3 85,00 * * 3 - 8 Carlos Fuerte Jiménez (DLA Piper España) 3 12,00 33 1 2 1 ASSET ACQUISITION 8 Héctor Gómez Ferrero (DLA Piper España) 3 12,00 33 1 2 1 9 Ramón Brotons Dávila (Lexcrea) 3 6,20 41 1 1 2 10 Victoria Ruenes (King & Wood Mallesons España) 3 5,00 * * 1 2

EQUITY CAPITAL MARKETS

LARGEST TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR

EQUITY CAPITAL MARKETS INDEX Dealmakers - Legal Advisors TTR's Dealmaker Rankings are comprised exclusively of partner-level advisors active in each given market.

OVERVIEW By total value of transactions

Variation Ranking 2021 Dealmakers - Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Total value (%)

PRIVATE 1 Pablo Medina (Linklaters Spain) 7.422,05 2 1 889,61 EQUITY 2 Federico Briano (Linklaters Spain) 6.997,85 1 1 833,05 2 Íñigo Berricano (Linklaters Spain) 6.997,85 1 1 833,05 2 Jorge Alegre (Linklaters Spain) 6.997,85 1 1 833,05 VENTURE 2 Javier Redonet Sánchez del Campo (Uría Menéndez España) 6.997,85 1 * * CAPITAL 2 Manuel Echenique Sanjurjo (Uría Menéndez España) 6.997,85 1 * * 3 Jesús Palencia Isidro (DLA Piper España) 1.500,00 2 * * 4 José María Gil-Robles Casanueva (DLA Piper España) 1.500,00 1 * * ASSET ACQUISITION 4 Pablo Díaz Gridilla (King & Wood Mallesons España) 1.500,00 1 * * 4 Alfonso Ventoso del Rincón (Uría Menéndez España) 1.500,00 1 * * 5 Norma Peña i Bagés (Pérez-Llorca) 1.028,00 1 * * 5 Pablo González Mosqueira (Pérez-Llorca) 1.028,00 1 * * EQUITY CAPITAL MARKETS 5 Pedro Fernández (Pérez-Llorca) 1.028,00 1 * * 6 Alejandro Ortiz (Linklaters Spain) 424,20 1 1 -43,44 7 Inmaculada Castelló Bernabeu (Pinsent Masons España) 223,84 1 * *

LARGEST 8 José Ramón Berecibar (Cuatrecasas España) 101,00 1 2 -51,93 TRANSACTIONS 9 Francisco León (Pérez-Llorca) 71,00 2 * * 9 Iván Delgado (Pérez-Llorca) 71,00 2 * * 10 Álvaro Mateo Sixto (Gómez-Acebo & Pombo España) 37,89 1 * * DEAL OF 10 Ferran Foix Miralles (Gómez-Acebo & Pombo España) 37,89 1 * * THE MONTH

TTR RADAR

RANKINGS

EQUITY CAPITAL MARKETS INDEX Dealmakers - Legal Advisors TTR's Dealmaker Rankings are comprised exclusively of partner-level advisors active in each given market.

OVERVIEW By nº of transactions

Variation nº Ranking 2021 Dealmakers - Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Of transactions

PRIVATE 1 Pablo Medina (Linklaters Spain) 2 7.422,05 3 1 EQUITY 2 Jesús Palencia Isidro (DLA Piper España) 2 1.500,00 * * 3 Francisco León (Pérez-Llorca) 2 71,00 * * 3 Iván Delgado (Pérez-Llorca) 2 71,00 * * VENTURE 4 Federico Briano (Linklaters Spain) 1 6.997,85 3 0 CAPITAL 4 Íñigo Berricano (Linklaters Spain) 1 6.997,85 3 0 4 Jorge Alegre (Linklaters Spain) 1 6.997,85 3 0 4 Javier Redonet Sánchez del Campo (Uría Menéndez España) 1 6.997,85 * * ASSET ACQUISITION 4 Manuel Echenique Sanjurjo (Uría Menéndez España) 1 6.997,85 * * 5 José María Gil-Robles Casanueva (DLA Piper España) 1 1.500,00 * * 5 Pablo Díaz Gridilla (King & Wood Mallesons España) 1 1.500,00 * * 5 Alfonso Ventoso del Rincón (Uría Menéndez España) 1 1.500,00 * * EQUITY CAPITAL MARKETS 6 Norma Peña i Bagés (Pérez-Llorca) 1 1.028,00 * * 6 Pablo González Mosqueira (Pérez-Llorca) 1 1.028,00 * * 6 Pedro Fernández (Pérez-Llorca) 1 1.028,00 * *

LARGEST 7 Alejandro Ortiz (Linklaters Spain) 1 424,20 3 0 TRANSACTIONS 8 Inmaculada Castelló Bernabeu (Pinsent Masons España) 1 223,84 * * 9 José Ramón Berecibar (Cuatrecasas España) 1 101,00 1 -3 10 Álvaro Mateo Sixto (Gómez-Acebo & Pombo España) 1 37,89 * * DEAL OF 10 Ferran Foix Miralles (Gómez-Acebo & Pombo España) 1 37,89 * * THE MONTH

TTR RADAR

RANKINGS

EQUITY CAPITAL MARKETS INDEX Rising Star Dealmakers - Legal Advisors TTR's Rising Star Dealmaker Rankings are comprised exclusively of associate-level advisors active in each given market.

OVERVIEW By total value of transactions

Variation Ranking 2021 Rising Star Dealmakers - Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Total value (%)

PRIVATE 1 Enrique Murillo Giménez (King & Wood Mallesons España) 1.500,00 1 * * EQUITY 1 Beatriz Camilleri (Uría Menéndez España) 1.500,00 1 * * 1 Sara Asensio Giménez (Uría Menéndez España) 1.500,00 1 * * 2 Carlos Mercadal (Pérez-Llorca) 1.028,00 1 * * VENTURE 2 Francisco Javier García Fernández (Pérez-Llorca) 1.028,00 1 * * CAPITAL 2 Joaquín Abril-Martorell (Pérez-Llorca) 1.028,00 1 * * 2 Rodrigo Turcios Zacarías (Pérez-Llorca) 1.028,00 1 * * 2 Santiago Esquivel (Pérez-Llorca) 1.028,00 1 * * ASSET ACQUISITION 3 Marta Garrido Buján (Linklaters Spain) 424,20 1 * * 4 Rafael Durán Frías (Pinsent Masons España) 223,84 1 * * 5 Beatriz Montes Yebra (Pérez-Llorca) 71,00 2 * * 5 Nasif Hamed (Pérez-Llorca) 71,00 2 * * EQUITY CAPITAL MARKETS 6 Íñigo Hernáez Pérez-Iriondo (Gómez-Acebo & Pombo España) 37,89 1 * * 7 José María Eguia (Cliord Chance) 19,87 1 * * 7 Arnau Vicente Peris (Garrigues España) 19,87 1 * *

LARGEST 7 Arturo Noguer Lloret (Garrigues España) 19,87 1 * * TRANSACTIONS 8 Ramón Brotons Dávila (Lexcrea) 5,00 1 * *

DEAL OF THE MONTH

TTR RADAR

RANKINGS

EQUITY CAPITAL MARKETS INDEX Rising Star Dealmakers - Legal Advisors TTR's Rising Star Dealmaker Rankings are comprised exclusively of associate-level advisors active in each given market.

OVERVIEW By nº of transactions

Variation nº Ranking 2021 Rising Star Dealmakers - Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Of transactions

PRIVATE 1 Beatriz Montes Yebra (Pérez-Llorca) 2 71,00 * * EQUITY 1 Nasif Hamed (Pérez-Llorca) 2 71,00 * * 2 Enrique Murillo Giménez (King & Wood Mallesons España) 1 1.500,00 * * 2 Beatriz Camilleri (Uría Menéndez España) 1 1.500,00 * * VENTURE 2 Sara Asensio Giménez (Uría Menéndez España) 1 1.500,00 * * CAPITAL 3 Carlos Mercadal (Pérez-Llorca) 1 1.028,00 * * 3 Francisco Javier García Fernández (Pérez-Llorca) 1 1.028,00 * * 3 Joaquín Abril-Martorell (Pérez-Llorca) 1 1.028,00 * * ASSET ACQUISITION 3 Rodrigo Turcios Zacarías (Pérez-Llorca) 1 1.028,00 * * 3 Santiago Esquivel (Pérez-Llorca) 1 1.028,00 * * 4 Marta Garrido Buján (Linklaters Spain) 1 424,20 * * 5 Rafael Durán Frías (Pinsent Masons España) 1 223,84 * * EQUITY CAPITAL MARKETS 6 Íñigo Hernáez Pérez-Iriondo (Gómez-Acebo & Pombo España) 1 37,89 * * 7 José María Eguia (Cliord Chance) 1 19,87 * * 7 Arnau Vicente Peris (Garrigues España) 1 19,87 * *

LARGEST 7 Arturo Noguer Lloret (Garrigues España) 1 19,87 * * TRANSACTIONS 8 Ramón Brotons Dávila (Lexcrea) 1 5,00 * *

DEAL OF THE MONTH

TTR RADAR

RANKINGS

INDEX

OVERVIEW

PRIVATE EQUITY

VENTURE CAPITAL

ASSET ACQUISITION

For more information: EQUITY CAPITAL MARKETS [email protected] www.TTRecord.com

LARGEST TRANSACTIONS The contents of this report may be re-published in any format without prior authorisation from ZUVINOVA, as long as it includes a reference to "TTR - Transactional Track Record" (www.TTRecord.com).

DEAL OF THE MONTH

TTR RADAR

RANKINGS TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021

PORTUGAL TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 INDEX

INDEX OVERVIEW EQUITY CAPITAL MARKETS ***

EQUITY CAPITAL · Total Transaction Volume and Aggregate Value MARKETS · Leading Firms and Subsectors TTR RADAR

· Forward-looking Intelligence: LARGEST TRANSACTIONS ASSET ACQUISITION - Aggregated Intelligence - Proprietary Intelligence · Total Transaction Volume and Aggregate Value DEAL OF THE MONTH · Leading Subsectors RANKING YEAR TO DATE

TTR RADAR · Financial Advisors · Legal Advisors · Dealmakers RANKINGS * Includes acquisition / sales of assets. Does not include Joint Venture. ** Includes announced and completed transactions in which at least one Portuguese-based is involved. *** Includes transactions acted by Portuguese companies in or abroad. TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)

TOTAL TRANSACTION VOLUME AND AGGREGATE VALUE INDEX YEAR TO DATE DEAL FLOW SINCE 2020

5k OVERVIEW Total aggregate value (EURm): 2.950 -52,81% 2.878,85 Number of transactions: 108 -20,59% Completed: 92 (85%) 2.5k 406,01 PRIVATE Disclosed value: 44 (41%) EQUITY

Total value (EURm) 0k

100 Number of Transactions by Type VENTURE CAPITAL 49 53 50 43 39 34 29 32 25 20 22 24 24 13 ASSET 34 ACQUISITION 0 41 Number of transactions

Jul 2020 Apr 2020May 2020Jun 2020 Aug 2020Sep 2020Oct 2020Nov 2020Dec 2020Jan 2021Feb 2021Mar 2021Apr 2021 EQUITY CAPITAL MARKETS

LARGEST Last Four Years (Jan-Dec) Last Four Years (Jan-Dec) TRANSACTIONS

18.190 24% 11.469 -19% 6 2020 2018 27 410 -16% 381 5% DEAL OF

THE MONTH 14.668 28% 14.122 47% 2019 2017 486 28% 364 19% M&A Private Equity

RANKINGS Venture Capital Asset Acquisition Total aggregate value (EURm) Number of transactions - Total: 27 | 773 EURm - Total: 34 | 584 EURm - Ongoing: 0 | 0 EURm - Ongoing: 3 | 0 EURm - Completed: 27 | 773 EURm - Completed: 31 | 584 EURm TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)

TRANSACTIONS BY SIZE INDEX Number of transactions Total value

100 100 OVERVIEW 2,59% 4,44% 5,41% 7,95% 5,18% 9,01% 3,43% 14,51% 14,49% 5,14% 1,88% 4,62% 3,60% 9,88% 11,53% PRIVATE 8,65% 7,21% EQUITY 80 13,08% 80

12,10% 12,97% 54,14% 16,00% 15,32% 57,21% 59,26% VENTURE 14,10% CAPITAL 8,67% 7,84% 60 6,31% 60 6,41% 12,24% 61,38% ASSET ACQUISITION 71,61%

40 40

EQUITY CAPITAL MARKETS 27,72% 25,09% 58,11% 60,08% 57,66% 53,33% 50,59% 29,12% LARGEST 20 20 TRANSACTIONS 10,83%

10,09% 8,84% 3,14% 8,07% 10,86% DEAL OF 5,93% 7,72% 7,02% THE MONTH 3,98% 0 0 2,32% 2017 2018 2019 2020 Year To Date 2017 2018 2019 2020 Year To Date

TTR RADAR

> EUR 500m EUR 1m - EUR 10m

RANKINGS EUR 100m - EUR 500m < EUR 1m

EUR 50m - EUR 100m Condential Value / Not Disclosed

EUR 10m - EUR 50m TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)

LEADING SUBSECTORS * INDEX Subsectors with most deals (M&A) ** Change relative to the Number of transactions Year to date same period in 2020 OVERVIEW Real Estate 22 -52%

Technology 16 -16%

PRIVATE EQUITY Financial and Insurance 12 71%

Distribution and Retail 9 50%

VENTURE CAPITAL Number of transactions this month

Technology 4

ASSET ACQUISITION Financial and Insurance 2

Tourism, Hotels and Restaurants 2

Wind 1 EQUITY CAPITAL MARKETS

2017 2018 2019 2020

LARGEST TRANSACTIONS Real Estate 72 Real Estate 98 Real Estate 105 Real Estate 98

DEAL OF Technology 40 Technology 46 Technology 69 Technology 53 THE MONTH

Financial and Financial and Financial and Financial and 37 41 49 29 Insurance Insurance Insurance Insurance TTR RADAR

Tourism, Distribution Healthcare, H… Hotels and Healthcare, H… 28 34 and Retail 40 27 Restaurants RANKINGS

CROSS-BORDER DEALS * INDEX Number of transactions

OVERVIEW 2017 2018 2019 2020 2021 - Year to date

US-based acquirers of portuguese companies 20 25 25,00% 38 52,00% 16 -57,89% 8 14,29%

Foreign acquisitions in the technology and internet 18 25 38,89% 23 -8,00% 21 -8,70% 7 16,67% PRIVATE subsector EQUITY Foreign Private Equity and Venture Capital Funds investing 25 25 0,00% 23 -8,00% 19 -17,39% 4 -20,00% in portuguese companies

VENTURE CAPITAL 195 193

174 174 ASSET ACQUISITION 156 150 142

128 EQUITY CAPITAL Domestic MARKETS Inbound acquisitions **

Outbound acquisitions *** LARGEST TRANSACTIONS Sale of foreign subsidiaries **** 66 Divestment - Foreign-owned stake ***** 64 58 52 50 49 50 DEAL OF 43

THE MONTH 34 29 26 22 19 16 18 13 TTR RADAR 5

2017 2018 2019 2020 2021 - Year to date

RANKINGS * Any M&A transaction that involves a buyer, seller or target based outside of Portugal. ** Foreign companies acquiring Portuguese-based targets. Since December 2018 this analysis includes acquisitions made by local subsidiaries of foreign entities. *** Portuguese-based companies acquiring targets abroad. Since December 2018 this analysis includes acquisitions made by foreign subsidiaries of Portuguese-based entities. **** Portuguese-based companies selling foreign subsidiaries. Since December 2018 this analysis includes sales made by foreign subsidiaries of Portuguese-based entities. ***** Foreign companies selling interest in Portuguese-based companies. Since December 2018 this analysis includes sales made by foreign subsidiaries of Portuguese-based entities. % All the percentages represent a variation relative to the same period the previous year. TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)

CROSS-BORDER DEALS * INDEX Year to date

OVERVIEW OUTBOUND ACQUISITIONS INBOUND ACQUISITIONS

No. Total value (EURm) No. Total value (EURm) PRIVATE Total 13 204,06 Total 52 1.604,74 EQUITY Ongoing 2 113,72 Ongoing 6 ND - Not-disclosed Completed 11 90,34 Completed 46 1.604,74

Spain 4 13,70 Spain 12 499,72 United States 2 164,34 France 11 539,00 EQUITY CAPITAL MARKETS Brazil 2 22,02 United States 8 640,85 Italy 2 ND - Not-disclosed United Kingdom 7 92,00 Finland 1 4,00 Luxembourg 4 24,86 LARGEST TRANSACTIONS Morocco 1 ND - Not-disclosed Germany 3 18,54 Germany 1 ND - Not-disclosed United Arab Emirates 3 ND - Not-disclosed Sweden 2 200,00 DEAL OF THE MONTH Singapore 2 120,00 Austria 2 60,00

TTR RADAR

* Any M&A transaction that involves a buyer, seller or target based outside of Portugal. ** Foreign companies acquiring Portuguese-based targets. Since December 2018 this analysis includes acquisitions made by local subsidiaries of foreign entities. *** Portuguese-based companies acquiring targets abroad. Since December 2018 this analysis includes acquisitions made by foreign subsidiaries of Portuguese-based entities. RANKINGS **** The same deal may appear under multiple subsectors and countries based on a companies operations and the number of parties involved in a given transaction. TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 OVERVIEW (M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS)

CROSS-BORDER DEALS * INDEX Year to date

OVERVIEW OUTBOUND ACQUISITIONS INBOUND ACQUISITIONS

No. Total value (EURm) No. Total value (EURm) PRIVATE Total 13 204,06 Total 52 1.604,74 EQUITY Ongoing 2 113,72 Ongoing 6 ND - Not-disclosed Completed 11 90,34 Completed 46 1.604,74

VENTURE CAPITAL

Outbound acquisitions *** Inbound acquisitions ** Leading subsectors **** Leading subsectors **** ASSET ACQUISITION ES US BR IT FI MA DE ES FR US UK LU DE AE SE SG AT

Technology 1 1 1 Real Estate 3 2 2 3 1 EQUITY CAPITAL MARKETS Solar 1 1 1 Financial and Insurance 2 1 1 1 1 Distribution and Retail 2 Technology 1 4 1 2 2 Chemical and Chemical Materials 1 Tourism, Hotels and Restaurants 1 1 1 1 LARGEST Electric 1 Consultancy, Audit and Engineering 1 1 1 TRANSACTIONS Steel, Metallurgy and Industrial Production 1 Food 2 1 Healthcare, Hygiene, Medical Aesthetics and Cosmetics 1 Telecoms 2 1

DEAL OF Real Estate 1 Distribution and Retail 1 1 1

THE MONTH Biotechnology 1 Electric 1 1 Agriculture, Agribusiness, Farming and Fishing 1 Water and Sanitation 2 2

TTR RADAR

RANKINGS *** Portuguese-based companies acquiring targets abroad. Since December 2018 this analysis includes acquisitions made by foreign subsidiaries of Portuguese-based entities. **** The same deal may appear under multiple subsectors and countries based on a companies operations and the number of parties involved in a given transaction. TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021

PRIVATE EQUITY

TOTAL TRANSACTION VOLUME AND AGGREGATE VALUE INDEX

YEAR TO DATE LAST FOUR YEARS (JAN-DEC)

OVERVIEW Total aggregate value (EURm): 200 -75,60% Total Total Number of transactions: 6 -40,00% 4.283 3% 3.915 -43% Completed: 5 (83%) 2020 2018 37 -21% 44 -14% PRIVATE Disclosed value: EQUITY 1 (17%) 4.171 7% 6.909 117% 2019 2017 47 7% 51 38%

VENTURE Scope CAPITAL Domestic Domestic

36 -14% 77 5% 2020 2018 ASSET -19% -32% ACQUISITION 2 13 13

43 -44% 73 448% 2019 2017 16 23% 19 19%

EQUITY CAPITAL MARKETS Cross-border Cross-border

LARGEST 4.247 3% 3.838 -44% TRANSACTIONS 4 2020 2018 24 -23% 31 -3%

4.128 8% 6.836 115% 2019 2017 DEAL OF 31 - 32 52% THE MONTH

Domestic Cross-border

RANKINGS TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021

PRIVATE EQUITY - Investment

LEADING FIRMS AND SUBSECTORS * INDEX Year to date Change relative to the same period in 2020 OVERVIEW Water and Sanitation 2 -

Glass, Ceramic, Paper, PRIVATE Private Equity Country Nº Value (EURm) EQUITY Plastics, Wood and 2 100% Timber 1 EQT Sweden 2 200,00

2 Oxy Capital Portugal 1 -

VENTURE Food 1 - 2 Zinc Capital Portugal 1 - CAPITAL

Distribution and Retail 1 - ASSET ACQUISITION

EQUITY CAPITAL MARKETS

2017 2018 2019 2020

LARGEST TRANSACTIONS Financial and Healthcare, … 10 Real Estate 8 6 Healthcare, … 6 Insurance

Chemical and DEAL OF Financial and Glass, Ceram… 4 5 Steel, Metall… 4 Chemical 4 THE MONTH Insurance Materials Tourism, Oil and Gas 3 Hotels and 4 Agriculture, … 4 Food 4 TTR RADAR Restaurants

Technology 3 Glass, Ceram… 4 Healthcare, … 3 Real Estate 4 RANKINGS

PRIVATE EQUITY - Divestment (Exits)

LEADING FIRMS AND SUBSECTORS * INDEX Year to date Change relative to the same period in 2020 OVERVIEW

Food 1 -

PRIVATE EQUITY Private Equity Country Nº Value (EURm)

1 Carlyle United States 1 -

1 Vallis Capital Partners Portugal 1 - VENTURE CAPITAL Glass, Ceramic, Paper, Plastics, Wood and 1 - Timber

ASSET ACQUISITION

EQUITY CAPITAL MARKETS

2017 2018 2019 2020

LARGEST TRANSACTIONS Chemical and Healthcare, … 4 Real Estate 5 Steel, Metall… 3 Chemical 3 Materials

DEAL OF Financial and Cars, Motorc… 3 3 Oil and Gas 2 Telecoms 3 THE MONTH Insurance

Chemical and Chemical 2 Education 2 Glass, Ceram… 2 Biotechnology 2 TTR RADAR Materials Media, Multimedia 1 Glass, Ceram… 2 Healthcare, … 1 Food 2 RANKINGS and Editorial

VENTURE CAPITAL

TOTAL TRANSACTION VOLUME AND AGGREGATE VALUE INDEX

YEAR TO DATE LAST FOUR YEARS (JAN-DEC)

OVERVIEW Total aggregate value (EURm): 773 1.243,54% Total Total Number of transactions: 27 42,11% 884 118% 244 171% Completed: 27 (100%) 2020 2018 60 -29% 46 48% PRIVATE Disclosed value: EQUITY 22 (81%) 406 66% 90 88% 2019 2017 85 85% 31 -16%

VENTURE Scope CAPITAL Domestic Domestic

26 -3% 77 1.726% 2020 2018 ASSET -60% - ACQUISITION 17 18

27 -64% 4 -63% 11 2019 2017 43 139% 18 -28%

EQUITY CAPITAL MARKETS Cross-border Cross-border 16 LARGEST 858 127% 167 95% TRANSACTIONS 2020 2018 43 2% 28 115%

378 126% 86 136% 2019 2017 DEAL OF 42 50% 13 8% THE MONTH

Domestic Cross-border

RANKINGS TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021

VENTURE CAPITAL - Investment

LEADING FIRMS AND SUBSECTORS * INDEX Year to date Change relative to the Venture Capital Country Nº Value (EURm) same period in 2020 OVERVIEW 1 Portugal Ventures Portugal 11 17,50 Technology 15 36% 2 Indico Capital Partners Portugal 2 72,64

3 Armilar Venture Partners Portugal 2 14,17

PRIVATE 4 Bionova Capital Portugal 2 9,60 EQUITY Financial and Insurance 4 300% 5 Insight Partners United States 1 300,00

6 Citi Ventures United States 1 168,99 Healthcare, Hygiene, VENTURE Medical Aesthetics and 4 300% 6 KKR United States 1 168,99 CAPITAL Cosmetics 6 Sapphire Ventures United States 1 168,99

7 Abdiel Capital United States 1 150,00

Distribution and Retail 3 - 7 Tiger Global Management United States 1 150,00 ASSET ACQUISITION 8 Blockchain Capital United States 1 65,78

8 Lux Capital United States 1 65,78

EQUITY CAPITAL MARKETS

2017 2018 2019 2020 LARGEST TRANSACTIONS

Technology 18 Technology 21 Technology 44 Technology 27

DEAL OF THE MONTH Internet 7 Internet 9 Internet 12 Internet 11

Tourism, TTR RADAR Distribution Healthcare, … 4 Hotels and 5 8 Other Services 8 and Retail Restaurants

Marketing and RANKINGS 2 Biotechnology 3 Healthcare, … 8 Healthcare, … 7 Advertising

VENTURE CAPITAL - Divestment (Exits)

LEADING FIRMS AND SUBSECTORS * INDEX

2018 2019 2020 OVERVIEW

Technology 3 Technology 3 Technology 2

PRIVATE EQUITY Internet 1 Tourism, Hotels and 2 Healthcare, … 1 Restaurants Distribution VENTURE 1 CAPITAL and Retail

Healthcare, … 1 Telecoms 1 Healthcare, … 1

ASSET ACQUISITION

EQUITY CAPITAL MARKETS

LARGEST TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR

RANKINGS TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021

ASSET ACQUISITION

TOTAL TRANSACTION VOLUME AND AGGREGATE VALUE INDEX

YEAR TO DATE LAST FOUR YEARS (JAN-DEC)

OVERVIEW Total aggregate value (EURm): 584 -10,67% Total Total Number of transactions: 34 9,68% 2.551 -47% 2.478 2% Completed: 31 (91%) 2020 2018 87 -15% 94 -1% PRIVATE Disclosed value: EQUITY 12 (35%) 4.855 96% 2.421 62% 2019 2017 102 9% 95 34%

VENTURE Scope CAPITAL Domestic Domestic

574 24% 1.328 159% 2020 2018 ASSET 10 21% -9% ACQUISITION 40 40

464 -65% 513 32% 2019 2017 33 -18% 44 63%

EQUITY CAPITAL MARKETS Cross-border Cross-border

LARGEST 1.976 -55% 1.149 -40% TRANSACTIONS 2020 2018 24 47 -32% 54 6%

4.391 282% 1.909 73% 2019 2017 DEAL OF 69 28% 51 16% THE MONTH

Domestic Cross-border

RANKINGS TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021

ASSET ACQUISITION

LEADING SUBSECTORS * INDEX Year to date Change relative to the same period in 2020 OVERVIEW Real Estate 21 -22%

PRIVATE EQUITY Financial and Insurance 5 -

VENTURE Shipbuilding 2 - CAPITAL

Tourism, Hotels and 2 ASSET Restaurants - ACQUISITION

EQUITY CAPITAL MARKETS

2017 2018 2019 2020

LARGEST TRANSACTIONS Real Estate 58 Real Estate 69 Real Estate 77 Real Estate 60

Tourism, DEAL OF Financial and Financial and 10 Hotels and 14 13 Solar 6 THE MONTH Insurance Insurance Restaurants Tourism, Tourism, Financial and Financial and Hotels and 5 8 Hotels and 10 5 TTR RADAR Insurance Insurance Restaurants Restaurants

Distribution Distribution 5 Agriculture, … 4 3 Healthcare, … 5 and Retail and Retail RANKINGS

EQUITY CAPITAL MARKETS IPOs * FOLLOW-ON *

INDEX Year to date Year to date

OVERVIEW Number of transactions Total Value (EURm) Number of transactions Total Value (EURm) 0 0

0 0 PRIVATE 2 EQUITY 734

VENTURE CAPITAL

4 1.555

ASSET ACQUISITION

Completed Pipeline EQUITY CAPITAL MARKETS

Last Four Years (Jan-Dec) Last Four Years (Jan-Dec)

LARGEST TRANSACTIONS 0 - 1.054 -1% 2020 2020 0 - 4 -

DEAL OF 0 -100% 1.064 17.819% THE MONTH 2019 2019 0 -100% 4 300%

TTR RADAR 22 - 6 -100% 2018 2018 2 - 1 -75%

RANKINGS 0 - 1.859 320% 2017 2017 0 - 4 100%

Total aggregate value (EURm) Number of transactions % All the percentages represent a variation relative to the same period the previous year.

* Includes transactions acted by Portuguese companies in Portugal or abroad. TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 LARGEST TRANSACTIONS OF THE MONTH

INDEX

MERGERS & ACQUISITIONS

Value Target Country Subsector Buyer Seller (EURm) OVERVIEW

SPV Dos parques eólicos en US United States Wind Greencoat Capital EDP Renewables North America 332,63

bet.pt Portugal Sports and Leisure Bwin Private Shareholders Portugal I 60,00 PRIVATE EQUITY

VENTURE CAPITAL VENTURE CAPITAL Value Target Country Subsector Buyer Seller (EURm)

Sensei Portugal Technology Seaya Ventures, Fundo 200M, LeadX Capital Partners, Iberis Capital 5,37 ASSET ACQUISITION Coverex Portugal Financial and Insurance Breega Capital, Private Shareholders Portugal I, Fundo 200M 5,00

Barkyn Portugal Distribution and Retail Food Tech Opportunity II SCSP (Five Seasons Ventures) 3,00

EQUITY CAPITAL MARKETS

LARGEST TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR

RANKINGS TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 DEAL OF THE MONTH

January February March April May June

INDEX Teclena - Automatização, Target: Aquapor Serviços Target: Aquapor Serviços Target: Oni Target: Target: Target: Estudos e Representações Buyer: Saur Buyer: Saur Buyer: Gigas Buyer: Buyer: Buyer: Zinc Capital Value: EUR 200,00m Value: EUR 200,00m Value: EUR 39,50m Value: Value: Value: ND OVERVIEW

July August September October November December

Target: Target: Target: Target: Target: Target:

PRIVATE Buyer: Buyer: Buyer: Buyer: Buyer: Buyer: EQUITY Value: Value: Value: Value: Value: Value:

Oni Full Transaction Details VENTURE Gigas closes acquisition of 100% of Oni CAPITAL Parties FINANCIAL DATA

Target: Oni Total Value Payment Oni 2019-12-31 (EUR) Description: Empresa operadora de telecomunicações. ASSET (Cash) EUR 15,00m(Shares) EUR Revenue EUR 41,96m EUR 39,50m ACQUISITION 24,50m Buyer % Seller % EBITDA -

Gigas 100,00% Gaea Inversión - Multiples - Oni - 2019-12-31 EBIT -

Enterprise Equity Value Total value Earnings EUR -4,27m EQUITY CAPITAL MARKETS Value (Implied) (Transaction) Net Debt EUR 0,17m Revenue 0,95 x 0,94 x 0,94 x

EBITDA - - - LARGEST TRANSACTIONS EBIT - - -

Earnings - - - Advisors / Due Diligence DEAL OF THE MONTH Parties Financial Advisory People Gigas EY España (Ernst & Young)

Parties Legal Advisory People TTR RADAR Gigas RRP Advogados Rodrigo Falcão Nogueira (Partner), Jacinta Amorim Vieira (Senior Associate) Gigas PwC Tax & Legal España

Parties Due Diligence People RANKINGS Gigas EY España (Ernst & Young) TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 TTR RADAR

FORWARD-LOOKING INTELLIGENCE

INDEX Opportunities by Intelligence Type and Volume - April 2021

OVERVIEW Acquisition Finance Venture Capital Advisory Appointment

Strategic Management Change Asset Sale/Acquisition PRIVATE 40 EQUITY Startup Acceleration Auction Identify early stage M&A 30 opportunities with TTR VENTURE Radar, delivering CAPITAL Spin-o/Carve-Out/Split-o Business Expansion actionable proprietary and 20 aggregated intelligence.

ASSET ACQUISITION Public Tender/Concession Capital Increase/Funding Round 10 TTR RADAR Aggregated Intelligence

EQUITY CAPITAL 0 Águas Do Alto Minho MARKETS Private Equity Companies for Sale appoints João Neves President

LARGEST TRANSACTIONS Partnerships & Alliances Companies Looking for Investor..

TTR RADAR

DEAL OF Proprietary Intelligence THE MONTH New PE/VC funds Companies Looking to Buy TaxDown planning Series A round in 3Q21

TTR RADAR New Mandate Opportunity Distressed/Restructuring

New Business Vertical Foreign Direct Investment (FDI.. RANKINGS

Market Entry High Growth Infrastructure TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021

INDEX

OVERVIEW RANKING

PRIVATE YEAR TO DATE EQUITY

VENTURE CAPITAL

ASSET ACQUISITION

EQUITY CAPITAL MARKETS

LARGEST TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR Financial Advisors

RANKINGS Legal Advisors Dealmakers TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 RANKING YEAR TO DATE

M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS INDEX Consultants: Financial Advisors + Due Diligence By total value of transactions By nº of transactions OVERVIEW Variation Variation nº Ranking 2021 Consultants Total value (EURm) Number of transactions Ranking 2020 Ranking 2021 Consultants Number of transactions Total value (EURm) Ranking 2020 Total value (%) Of transactions 1 KPMG Portugal 200,00 1 -- -- 1 KPMG Portugal 1 200,00 -- -- 2 EY Portugal -- 1 -- -- 2 EY Portugal 1 ------PRIVATE EQUITY 2 PwC Portugal -- 1 -- -- 2 PwC Portugal 1 ------

VENTURE CAPITAL Consultants: Financial Advisors By total value of transactions By nº of transactions

ASSET Variation Variation nº Ranking 2021 Consultants Total value (EURm) Number of transactions Ranking 2020 Ranking 2021 Consultants Number of transactions Total value (EURm) Ranking 2020 ACQUISITION Total value (%) Of transactions

1 KPMG Portugal 200,00 1 -- -- 1 KPMG Portugal 1 200,00 -- -- 2 EY Portugal -- 1 -- -- 2 EY Portugal 1 ------

EQUITY CAPITAL MARKETS

LARGEST Consultants: Due Diligence TRANSACTIONS By total value of transactions By nº of transactions

Variation Variation nº Ranking 2021 Consultants Total value (EURm) Number of transactions Ranking 2020 Ranking 2021 Consultants Number of transactions Total value (EURm) Ranking 2020 Total value (%) Of transactions DEAL OF 1 EY Portugal -- 1 -- -- 1 EY Portugal 1 ------THE MONTH 1 PwC Portugal -- 1 -- -- 1 PwC Portugal 1 ------

TTR RADAR

RANKINGS TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 RANKING YEAR TO DATE

M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS INDEX Financial Advisors

OVERVIEW By total value of transactions

Variation Buy-Side Sell-Side Ranking 2021 Financial Advisor Total value (EURm) Number of transactions Ranking 2020 Total value (%) (EURm) (EURm) 1 FTI Consulting 500,00 1 * * 500,00 - PRIVATE 2 Caixa BI 260,28 1 1 -89,30 260,28 - EQUITY 3 Guggenheim 98,56 1 * * 98,56 -

By nº of transactions

VENTURE Variation nº CAPITAL Ranking 2021 Financial Advisor Number of transactions Total value (EURm) Ranking 2020 Buy-Side Sell-Side Of transactions 1 FTI Consulting 1 500,00 * * 1 - 2 Caixa BI 1 260,28 2 -1 1 - ASSET 3 Guggenheim 1 98,56 * * 1 - ACQUISITION 4 Arcano Partners 1 - * * 1 - 4 Banco Sabadell 1 - * * 1 - 4 Barclays Bank 1 - * * - 1 EQUITY CAPITAL 4 Credit Suisse Group 1 - * * 1 - MARKETS 4 Goldman Sachs 1 - * * - 1 4 Viam Advisors 1 - * * - 1

LARGEST TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR

M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS INDEX Legal Advisors

OVERVIEW By total value of transactions

Variation Buy-Side Sell-Side Ranking 2021 Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Total value (%) (EURm) (EURm) 1 Uría Menéndez - Proença de Carvalho 488,99 5 7 -38,88 168,99 320,00 PRIVATE 2 PLMJ 203,00 5 11 1.160,87 203,00 - EQUITY 3 VdA - Vieira de Almeida 200,00 2 1 -94,73 200,00 - 4 Garrigues Portugal 175,84 2 16 * 6,85 168,99 5 SRS Advogados 91,24 7 6 -88,95 80,38 10,85 VENTURE 6 Morais Leitão, Galvão Teles, Soares da Silva & Associados 25,61 2 2 -99,32 - 25,61 CAPITAL 7 Cuatrecasas Portugal 20,61 2 12 243,47 20,61 -

By nº of transactions ASSET Variation nº ACQUISITION Ranking 2021 Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Buy-Side Sell-Side Of transactions 1 SRS Advogados 7 91,24 5 1 4 3 2 Uría Menéndez - Proença de Carvalho 5 488,99 11 3 2 3 EQUITY CAPITAL 3 PLMJ 5 203,00 6 0 4 1 MARKETS 4 Telles Advogados 3 - 17 2 2 1 5 VdA - Vieira de Almeida 2 200,00 3 -5 1 1 6 Garrigues Portugal 2 175,84 2 -7 1 1 LARGEST TRANSACTIONS 7 Morais Leitão, Galvão Teles, Soares da Silva & Associados 2 25,61 1 -9 - 2 8 Cuatrecasas Portugal 2 20,61 7 -3 2 - 9 AFMA - António Frutuoso de Melo & Associados 1 - * * 1 -

DEAL OF 9 Campos Ferreira, Sá Carneiro – CS Associados 1 - 9 -1 1 - THE MONTH 9 CCSL Advogados 1 - * * 1 - 9 Cerejeira Namora, Marinho Falcão 1 - * * 1 - 9 Sérvulo & Associados 1 - * * 1 - TTR RADAR

PRIVATE EQUITY INDEX Financial Advisors

OVERVIEW By total value of transactions

Variation Buy-Side Sell-Side Ranking 2021 Financial Advisor Total value (EURm) Number of transactions Ranking 2020 Total value (%) (EURm) (EURm)

PRIVATE By nº of transactions EQUITY Variation nº Ranking 2021 Financial Advisor Number of transactions Total value (EURm) Ranking 2020 Buy-Side Sell-Side Of transactions 1 Banco Sabadell 1 - * * 1 -

VENTURE 1 Barclays Bank 1 - * * - 1 CAPITAL 1 Credit Suisse Group 1 - * * 1 - 1 Goldman Sachs 1 - * * - 1

ASSET ACQUISITION

EQUITY CAPITAL MARKETS

LARGEST TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR

PRIVATE EQUITY INDEX Legal Advisors

OVERVIEW By total value of transactions

By nº of transactions

VENTURE Variation nº CAPITAL Ranking 2021 Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Buy-Side Sell-Side Of transactions 1 Uría Menéndez - Proença de Carvalho 3 200,00 5 2 1 2 2 PLMJ 2 200,00 3 0 2 - ASSET 2 VdA - Vieira de Almeida 2 200,00 1 0 1 1 ACQUISITION 3 AFMA - António Frutuoso de Melo & Associados 1 - * * 1 - 3 CCSL Advogados 1 - * * 1 - 3 Cuatrecasas Portugal 1 - 2 -1 1 - EQUITY CAPITAL 3 Sérvulo & Associados 1 - * * 1 - MARKETS 3 Telles Advogados 1 - * * - 1

LARGEST TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR

VENTURE CAPITAL INDEX Legal Advisors

OVERVIEW By total value of transactions

Variation Buy-Side Sell-Side Ranking 2021 Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Total value (%) (EURm) (EURm) 1 Garrigues Portugal 175,84 2 * * 6,85 168,99 PRIVATE 2 Uría Menéndez - Proença de Carvalho 168,99 1 * * 168,99 - EQUITY 3 SRS Advogados 91,24 7 1 271,79 80,38 10,85 4 Morais Leitão, Galvão Teles, Soares da Silva & Associados 25,61 2 2 5,64 - 25,61 5 Cuatrecasas Portugal 20,61 1 6 * 20,61 - VENTURE 6 PLMJ 3,00 1 * * 3,00 - CAPITAL

By nº of transactions

Variation nº Ranking 2021 Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Buy-Side Sell-Side ASSET Of transactions ACQUISITION 1 SRS Advogados 7 91,24 2 3 4 3 2 Garrigues Portugal 2 175,84 * * 1 1 3 Morais Leitão, Galvão Teles, Soares da Silva & Associados 2 25,61 1 -5 - 2 EQUITY CAPITAL 4 Uría Menéndez - Proença de Carvalho 1 168,99 * * 1 - MARKETS 5 Cuatrecasas Portugal 1 20,61 4 -1 1 - 6 PLMJ 1 3,00 * * 1 -

LARGEST TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR

EQUITY CAPITAL MARKETS INDEX Banks

OVERVIEW By total value of transactions

Variation Ranking 2021 Bank Total value (EURm) Number of transactions Ranking 2020 Total value (%) 1 Citigroup 1.500,00 1 * * PRIVATE 1 Morgan Stanley 1.500,00 1 * * EQUITY

By nº of transactions

Variation nº Ranking 2021 Bank Number of transactions Total value (EURm) Ranking 2020 VENTURE Of transactions CAPITAL 1 Citigroup 1 1.500,00 * * 1 Morgan Stanley 1 1.500,00 * *

ASSET ACQUISITION

EQUITY CAPITAL MARKETS

LARGEST TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR

RANKINGS

EQUITY CAPITAL MARKETS INDEX Legal Advisors

OVERVIEW By total value of transactions

Variation Ranking 2021 Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Total value (%) 1 DLA Piper ABBC 1.500,00 1 * * PRIVATE 1 Morais Leitão, Galvão Teles, Soares da Silva & Associados 1.500,00 1 * * EQUITY 1 Uría Menéndez - Proença de Carvalho 1.500,00 1 * *

By nº of transactions

VENTURE Variation nº CAPITAL Ranking 2021 Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Of transactions 1 DLA Piper ABBC 1 1.500,00 * * 1 Morais Leitão, Galvão Teles, Soares da Silva & Associados 1 1.500,00 * * ASSET 1 Uría Menéndez - Proença de Carvalho 1 1.500,00 * * ACQUISITION

EQUITY CAPITAL MARKETS

LARGEST TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR

RANKINGS

M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS INDEX Dealmakers - Financial Advisor

OVERVIEW By total value of transactions

By nº of transactions

Variation nº Ranking 2021 Dealmakers - Financial Advisor Number of transactions Total value (EURm) Ranking 2020 Buy-Side Sell-Side PRIVATE Of transactions EQUITY 1 Sofía Mendes (Arcano Partners) 1 - * * 1 -

VENTURE CAPITAL

ASSET ACQUISITION

EQUITY CAPITAL MARKETS

LARGEST TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR

M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS INDEX Dealmakers - Legal Advisors TTR's Dealmaker Rankings are comprised exclusively of partner-level advisors active in each given market.

OVERVIEW By total value of transactions

Variation Buy-Side Sell-Side Ranking 2021 Dealmakers - Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Total value (%) (EURm) (EURm)

PRIVATE 1 Duarte Schmidt Lino (PLMJ) 200,00 2 18 1.804,76 200,00 - EQUITY 1 Cláudia da Cruz Almeida (VdA - Vieira de Almeida) 200,00 2 1 -94,65 200,00 - 2 Frederico Gonçalves Pereira (VdA - Vieira de Almeida) 200,00 1 1 -94,65 200,00 - 2 Jorge Bleck (VdA - Vieira de Almeida) 200,00 1 1 -94,65 200,00 - VENTURE 2 Manuel Protásio (VdA - Vieira de Almeida) 200,00 1 1 -94,65 200,00 - CAPITAL 2 Paulo Trindade Costa (VdA - Vieira de Almeida) 200,00 1 1 -94,65 200,00 - 2 Ricardo Bordalo Junqueiro (VdA - Vieira de Almeida) 200,00 1 1 -94,65 200,00 - 2 Soa Ribeiro Branco (VdA - Vieira de Almeida) 200,00 1 1 -94,65 200,00 - ASSET ACQUISITION 3 Antonio Villacampa Serrano (Uría Menéndez - Proença de Carvalho) 168,99 2 10 -78,88 168,99 - 4 Mário Lino Dias (Garrigues Portugal) 168,99 1 25 * - 168,99 5 Marta Pontes (Uría Menéndez - Proença de Carvalho) 120,00 1 10 -85,00 - 120,00 5 Rita Xavier de Brito (Uría Menéndez - Proença de Carvalho) 120,00 1 10 -85,00 - 120,00 EQUITY CAPITAL MARKETS 6 Paulo Bandeira (SRS Advogados) 87,24 5 10 -89,10 80,38 6,85 7 Vasco Bivar de Azevedo (Cuatrecasas Portugal) 20,61 2 19 243,47 20,61 - 8 Filipe Avides Moreira (PLMJ) 3,00 2 18 -71,43 3,00 -

LARGEST 9 Gustavo Ordonhas Oliveira (SRS Advogados) 1,00 1 10 -99,87 - 1,00 TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR

M&A, PRIVATE EQUITY, VENTURE CAPITAL AND ASSET ACQUISITIONS INDEX Dealmakers - Legal Advisors TTR's Dealmaker Rankings are comprised exclusively of partner-level advisors active in each given market.

OVERVIEW By nº of transactions

Variation nº Ranking 2021 Dealmakers - Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Buy-Side Sell-Side Of transactions

PRIVATE 1 Paulo Bandeira (SRS Advogados) 5 87,24 2 0 4 1 EQUITY 2 Duarte Schmidt Lino (PLMJ) 2 200,00 22 1 2 - 2 Cláudia da Cruz Almeida (VdA - Vieira de Almeida) 2 200,00 3 -2 1 1 3 Antonio Villacampa Serrano (Uría Menéndez - Proença de Carvalho) 2 168,99 16 1 2 -

VENTURE 4 Vasco Bivar de Azevedo (Cuatrecasas Portugal) 2 20,61 6 -1 2 - CAPITAL 5 Filipe Avides Moreira (PLMJ) 2 3,00 22 1 1 1 6 Frederico Gonçalves Pereira (VdA - Vieira de Almeida) 1 200,00 3 -3 1 - 6 Jorge Bleck (VdA - Vieira de Almeida) 1 200,00 3 -3 1 - ASSET 6 Manuel Protásio (VdA - Vieira de Almeida) 1 200,00 3 -3 1 - ACQUISITION 6 Paulo Trindade Costa (VdA - Vieira de Almeida) 1 200,00 3 -3 1 - 6 Ricardo Bordalo Junqueiro (VdA - Vieira de Almeida) 1 200,00 3 -3 1 - 6 Soa Ribeiro Branco (VdA - Vieira de Almeida) 1 200,00 3 -3 1 - EQUITY CAPITAL 7 Mário Lino Dias (Garrigues Portugal) 1 168,99 1 -5 - 1 MARKETS 8 Marta Pontes (Uría Menéndez - Proença de Carvalho) 1 120,00 16 0 - 1 8 Rita Xavier de Brito (Uría Menéndez - Proença de Carvalho) 1 120,00 16 0 - 1

LARGEST 9 Gustavo Ordonhas Oliveira (SRS Advogados) 1 1,00 2 -4 - 1 TRANSACTIONS 10 Bernardo Abreu Mota (Campos Ferreira, Sá Carneiro – CS Associados) 1 - 8 -1 1 - 10 João de Lemos Portugal (CCSL Advogados) 1 - * * 1 - 10 Mafalda de Almeida Carvalho (CCSL Advogados) 1 - * * 1 - DEAL OF 10 Margarida Bragança (CCSL Advogados) 1 - * * 1 - THE MONTH 10 Eduardo Castro Marques (Cerejeira Namora, Marinho Falcão) 1 - * * 1 - 10 Pedro Marques Bom (Cuatrecasas Portugal) 1 - 6 -2 1 - 10 Diogo Perestrelo (PLMJ) 1 - 22 0 1 - TTR RADAR 10 Francisco Barona (Sérvulo & Associados) 1 - * * 1 - 10 Cristina Ferreira (Telles Advogados) 1 - * * - 1 10 Francisco Espregueira Mendes (Telles Advogados) 1 - * * - 1 RANKINGS 10 Joaquim Caimoto Duarte (Telles Advogados) 1 - * * - 1 10 Leyre Prieto (Telles Advogados) 1 - * * - 1 10 André Pestana Nascimento (Uría Menéndez - Proença de Carvalho) 1 - 16 0 1 - 10 Carlos Costa Andrade (Uría Menéndez - Proença de Carvalho) 1 - 16 0 - 1 TTR - Transactional Track Record www.TTRecord.com Monthly Report - April 2021 RANKING YEAR TO DATE

OVERVIEW By total value of transactions

Variation Buy-Side Sell-Side Ranking 2021 Rising Star Dealmakers - Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Total value (%) (EURm) (EURm)

PRIVATE 1 João Serras de Sousa (PLMJ) 200,00 1 23 1.804,76 200,00 - EQUITY 1 Afonso Cuco (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - 1 Américo Oliveira Fragoso (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - 1 Bruno Melo Alves (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -

VENTURE 1 Catarina Coimbra (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - CAPITAL 1 David Cuba Topete (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - 1 Diogo Santana Lopes (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - 1 Domingos Freire de Andrade (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - ASSET 1 Inês Sotto Mayor (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - ACQUISITION 1 Isa Rodrigues (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - 1 Isabel Ferreira dos Santos (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - 1 Isabel Ornelas (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - EQUITY CAPITAL 1 Joana Campos e Matos (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - MARKETS 1 João Tornada (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - 1 Manuel Gouveia Pereira (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 -

LARGEST 1 Maria Cunha Matos (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - TRANSACTIONS 1 Maria Leonor Piconez (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - 1 Marina Costa Cabral (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - 1 Matilde Líbano Monteiro (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - DEAL OF 1 Miguel Lourenço e Silva (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - THE MONTH 1 Pedro Gil Marques (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - 1 Pedro Morais Vaz (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - 1 Pedro Pires Fernandes (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - TTR RADAR 1 Philippa Soares Franco (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - 1 Ricardo Filipe Costa (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - 1 Soraia Ussene (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - RANKINGS 1 Vanessa Cardoso Pires (VdA - Vieira de Almeida) 200,00 1 1 -94,06 200,00 - 2 Frederico Pinho Vieira (Uría Menéndez - Proença de Carvalho) 168,99 2 13 -78,88 168,99 - 2 José António Reymão Nogueira (Uría Menéndez - Proença de Carvalho) 168,99 2 13 -78,88 168,99 - 3 Miguel Stokes (Uría Menéndez - Proença de Carvalho) 120,00 2 13 -85,00 - 120,00

OVERVIEW By nº of transactions

Variation nº Ranking 2021 Rising Star Dealmakers - Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Buy-Side Sell-Side Of transactions

PRIVATE 1 Solange Fernandes (SRS Advogados) 4 78,64 2 0 2 2 EQUITY 2 Frederico Pinho Vieira (Uría Menéndez - Proença de Carvalho) 2 168,99 24 1 2 - 2 José António Reymão Nogueira (Uría Menéndez - Proença de Carvalho) 2 168,99 24 1 2 - 3 Miguel Stokes (Uría Menéndez - Proença de Carvalho) 2 120,00 24 1 - 2

VENTURE 4 Francisco Vieira de Almeida (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 2 25,61 3 -2 - 2 CAPITAL 4 Luís Roquette Geraldes (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 2 25,61 3 -2 - 2 5 Giorgio Galli (SRS Advogados) 2 9,60 2 -2 2 - 6 Rita Albuquerque (PLMJ) 2 - 19 0 2 - ASSET 7 João Serras de Sousa (PLMJ) 1 200,00 19 -1 1 - ACQUISITION 7 Afonso Cuco (VdA - Vieira de Almeida) 1 200,00 5 -2 1 - 7 Américo Oliveira Fragoso (VdA - Vieira de Almeida) 1 200,00 5 -2 1 - 7 Bruno Melo Alves (VdA - Vieira de Almeida) 1 200,00 5 -2 1 - EQUITY CAPITAL 7 Catarina Coimbra (VdA - Vieira de Almeida) 1 200,00 5 -2 1 - MARKETS 7 David Cuba Topete (VdA - Vieira de Almeida) 1 200,00 5 -2 1 - 7 Diogo Santana Lopes (VdA - Vieira de Almeida) 1 200,00 5 -2 1 -

LARGEST 7 Domingos Freire de Andrade (VdA - Vieira de Almeida) 1 200,00 5 -2 1 - TRANSACTIONS 7 Inês Sotto Mayor (VdA - Vieira de Almeida) 1 200,00 5 -2 1 - 7 Isa Rodrigues (VdA - Vieira de Almeida) 1 200,00 5 -2 1 - 7 Isabel Ferreira dos Santos (VdA - Vieira de Almeida) 1 200,00 5 -2 1 - DEAL OF 7 Isabel Ornelas (VdA - Vieira de Almeida) 1 200,00 5 -2 1 - THE MONTH 7 Joana Campos e Matos (VdA - Vieira de Almeida) 1 200,00 5 -2 1 - 7 João Tornada (VdA - Vieira de Almeida) 1 200,00 5 -2 1 - 7 Manuel Gouveia Pereira (VdA - Vieira de Almeida) 1 200,00 5 -2 1 - TTR RADAR 7 Maria Cunha Matos (VdA - Vieira de Almeida) 1 200,00 5 -2 1 - 7 Maria Leonor Piconez (VdA - Vieira de Almeida) 1 200,00 5 -2 1 - 7 Marina Costa Cabral (VdA - Vieira de Almeida) 1 200,00 5 -2 1 - RANKINGS 7 Matilde Líbano Monteiro (VdA - Vieira de Almeida) 1 200,00 5 -2 1 - 7 Miguel Lourenço e Silva (VdA - Vieira de Almeida) 1 200,00 5 -2 1 - 7 Pedro Gil Marques (VdA - Vieira de Almeida) 1 200,00 5 -2 1 - 7 Pedro Morais Vaz (VdA - Vieira de Almeida) 1 200,00 5 -2 1 -

EQUITY CAPITAL MARKETS INDEX Dealmakers - Legal Advisors TTR's Dealmaker Rankings are comprised exclusively of partner-level advisors active in each given market.

OVERVIEW By total value of transactions

Variation Ranking 2021 Dealmakers - Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Total value (%)

PRIVATE 1 Gonçalo Castro Ribeiro (DLA Piper ABBC) 1.500,00 1 * * EQUITY 1 João Costa Quinta (DLA Piper ABBC) 1.500,00 1 * * 1 Nuno Azevedo Neves (DLA Piper ABBC) 1.500,00 1 * * 1 Bruno Santiago (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1.500,00 1 * * VENTURE 1 Francisco de Sousa da Câmara (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1.500,00 1 * * CAPITAL 1 Nuno Galvão Teles (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1.500,00 1 * * 1 Ricardo Andrade Amaro (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1.500,00 1 * * 1 António Castro Caldas (Uría Menéndez - Proença de Carvalho) 1.500,00 1 * * ASSET ACQUISITION 1 Carlos Costa Andrade (Uría Menéndez - Proença de Carvalho) 1.500,00 1 * *

By nº of transactions

Variation nº Ranking 2021 Dealmakers - Legal Advisor Number of transactions Total value (EURm) Ranking 2020 EQUITY CAPITAL Of transactions MARKETS 1 Gonçalo Castro Ribeiro (DLA Piper ABBC) 1 1.500,00 * * 1 João Costa Quinta (DLA Piper ABBC) 1 1.500,00 * * 1 Nuno Azevedo Neves (DLA Piper ABBC) 1 1.500,00 * * LARGEST TRANSACTIONS 1 Bruno Santiago (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1 1.500,00 * * 1 Francisco de Sousa da Câmara (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1 1.500,00 * * 1 Nuno Galvão Teles (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1 1.500,00 * *

DEAL OF 1 Ricardo Andrade Amaro (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1 1.500,00 * *

THE MONTH 1 António Castro Caldas (Uría Menéndez - Proença de Carvalho) 1 1.500,00 * * 1 Carlos Costa Andrade (Uría Menéndez - Proença de Carvalho) 1 1.500,00 * *

TTR RADAR

RANKINGS

EQUITY CAPITAL MARKETS INDEX Rising Star Dealmakers - Legal Advisors TTR's Rising Star Dealmaker Rankings are comprised exclusively of associate-level advisors active in each given market.

OVERVIEW By total value of transactions

Variation Ranking 2021 Rising Star Dealmakers - Legal Advisor Total value (EURm) Number of transactions Ranking 2020 Total value (%)

PRIVATE 1 Diana Ribeiro Duarte (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1.500,00 1 * * EQUITY 1 Pedro Capitão Barbosa (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1.500,00 1 * * 1 Miguel Stokes (Uría Menéndez - Proença de Carvalho) 1.500,00 1 * *

By nº of transactions VENTURE CAPITAL Variation nº Ranking 2021 Rising Star Dealmakers - Legal Advisor Number of transactions Total value (EURm) Ranking 2020 Of transactions 1 Diana Ribeiro Duarte (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1 1.500,00 * *

ASSET 1 Pedro Capitão Barbosa (Morais Leitão, Galvão Teles, Soares da Silva & Associados) 1 1.500,00 * * ACQUISITION 1 Miguel Stokes (Uría Menéndez - Proença de Carvalho) 1 1.500,00 * *

EQUITY CAPITAL MARKETS

LARGEST TRANSACTIONS

DEAL OF THE MONTH

TTR RADAR

RANKINGS

INDEX

OVERVIEW

PRIVATE EQUITY

VENTURE CAPITAL

ASSET ACQUISITION

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TTR RADAR

RANKINGS M&A

PRIVATE EQUITY

VENTURE CAPITAL

EQUITY CAPITAL MARKETS

ACQUISITION FINANCE

PROJECT FINANCE

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