Flashwire Advisor Quarterly

Home , Centerview Partners, Huatai Securities, Lincoln International

FLSHWIRE US MONTHLY

2nd Quarter 2021

Top Advisors M&A Market Index 2 Deal Volume 4 Global 5 United States 7 US Middle Market 9 United States SPAC M&A 11 Europe 12 United Kingdom 14 Asia ex-Japan 16 Japan 18 US Activism and Defense 19

The Global Mergers & Acquisitions Market Index $500.0 5,000

$441.2 $450.0 $429.7 4,500 $417.4

$400.0 $417.1 4,000 $384.8 $378.3

$342.7 $350.0 $366.8 3,500 $343.4 $300.0 $313.8 3,000 $271.3

$250.0 2,500 $233.6 $200.0 2,000 $161.7 $150.0 1,500

$142.2 $100.0 1,000

$50.0 500 $54.7 $62.9 2,662 1,948 2,087 2,809 3,156 2,728 3,188 3,446 3,395 4,369 3,554 3,271 4,159 3,562 3,250 3,331 $0.0 0 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Deal Volume Aggregate Deal Value

The US Mergers & Acquisitions Market Index

$350.0 2,000 $328.7 $323.1 1,800 $300.0 $295.5 1,600 $262.9 $255.0 $250.6 $250.0 1,400 $252.1 $247.1

1,200 $200.0 $203.3 $201.3 1,000

$150.0 $129.6 $155.0 800

$100.0 600

$60.9 400 $79.1 $50.0 $24.1 $24.6 200

954 653 705 944 1,079 1,040 1,191 1,380 1,266 1,721 1,617 1,381 1,612 1,421 1,414 1,475 $0.0 0 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Deal Volume Aggregate Deal Value

The Europe Mergers & Acquisitions Market Index

€250.0 2,000

1,800

€200.0 1,600

1,400

€150.0 € 142.9 1,200 € 136.6 € 133.9 1,000 € 125.1 € 130.8 € 105.2 €100.0 800 € 97.7 € 104.0 € 99.8

€ 70.3 600 € 53.7 € 69.9 €50.0 400 € 51.6 € 57.4 € 14.9 € 16.2 200

1,127 748 869 1,187 1,461 939 1,337 1,459 1,415 1,704 1,436 1,338 1,858 1,349 1,294 1,258 €0.0 0 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Deal Volume Aggregate Deal Value

The Asia Mergers & Acquisitions Market Index

$180 1,600 $166.7

$160 1,400

$140 $133.1 1,200 $124.8 $120 1,000 $98.5 $100 $91.2 800 $89.8 $93.9 $80 $80.8 $82.0 $76.6 $74.1 600 $60 $56.3 $66.9

$53.3 400 $40

$33.5 $28.7 $20 200

768 651 638 867 824 879 919 842 1,003 1,338 807 856 1,124 1,017 835 922 $0 0 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Deal Volume Aggregate Deal Value

Europe: Deal Volume by Country

1,800

1,600 1,659

1,400 1,382 1,320 1,305 1,315 1,331 1,200

1,096 1,000 941 800 868 876 802 804 806 817 807 729 762 780 738 760 699 699 600 694 601 530 400 453 464

200

0 2q19 3q19 4q19 1q20 2q20 3q20 4q20 1q21 2q21

France Germany United Kingdom

Asia: Deal Volume by Country

1,600

1,400

1,351

1,200 1,223

1,069 1,000 1,017 983 998 938 800 872

730 690 681 659 639 657 600 615 598 530 532 400 372 387 371 338 348 358 338 283 295 298 273 274 264 259 200 259 237 216 141 0 2q19 3q19 4q19 1q20 2q20 3q20 4q20 1q21 2q21

Australia China/HK India Japan

GLOBAL: ANNOUNCED DEALS – RANKED BY TRANSACTION VALUE Transaction Total Transaction Total Financial Advisor Value ($Mil) * Deals** Legal Advisor Value ($Mil) * Deals** 1. JPMorgan Chase & Co $734,143.1 250 1. Sullivan & Cromwell LLP $387,083.4 95 2. Goldman Sachs & Co. 723,234.9 241 2. Latham & Watkins LLP 321,898.4 283 3. Morgan Stanley 568,761.9 179 3. Wachtell, Lipton, Rosen & Katz 299,703.3 59 4. BofA Securities, Inc. 374,154.6 124 4. Simpson Thacher & Bartlett LLP 296,251.8 96 5. Citigroup 368,175.9 148 5. Kirkland & Ellis LLP 286,238.3 371 6. Barclays Plc 281,403.6 126 6. Skadden, Arps, Slate, Meagher & Flom 284,052.3 136 7. Credit Suisse 222,637.1 111 7. Cravath, Swaine & Moore LLP 240,837.8 44 8. Evercore, Inc. 204,587.4 72 8. Paul, Weiss, Rifkind, Wharton & Garrison 229,999.0 77 9. UBS Group AG 174,547.8 77 9. Weil, Gotshal & Manges LLP 174,584.5 109 10. Lazard 153,251.2 86 10. Fried, Frank, Harris, Shriver & Jacobson 143,389.1 43 11. RBC Capital Markets 147,447.9 72 11. Debevoise & Plimpton LLP 136,218.4 48 12. Deutsche Bank AG 143,033.4 58 12. White & Case LLP 134,102.5 95 13. Perella Weinberg Partners 131,336.7 36 13. Davis Polk & Wardwell LLP 133,786.3 56 14. Centerview Partners LLC 119,471.4 38 14. Goodwin Procter LLP 121,850.2 173 15. Jefferies LLC 119,145.5 135 15. Ropes & Gray LLP 121,162.4 75 16. Guggenheim Capital LLC 106,813.2 43 16. Torys LLP 111,096.2 17 17. Allen & Co., Inc. 106,683.8 10 17. Alston & Bird LLP 107,506.5 76 18. PJT Partners, Inc. 103,464.8 24 18. Herbert Smith Freehills LLP 106,979.2 87 19. LionTree LLC 88,952.8 17 19. Cooley LLP 104,844.0 123 20. Rothschild & Co 80,409.8 186 20. Freshfields Bruckhaus Deringer LLP 103,947.5 72 21. Société Générale SA 80,407.5 15 21. Gibson, Dunn & Crutcher LLP 103,662.6 89 22. Moelis & Co. 78,373.8 77 22. Blake, Cassels & Graydon LLP 101,539.6 64 23. Bank of Montreal 75,377.9 36 23. Sidley Austin LLP 95,931.3 68 24. PricewaterhouseCoopers 57,928.2 344 24. Cleary Gottlieb Steen & Hamilton LLP 91,548.4 58 25. The Toronto-Dominion Bank 56,979.5 23 25. Allen & Overy LLP 89,966.1 132 26. Wells Fargo & Co. 47,923.3 32 26. Wilmer Cutler Pickering Hale & Dorr LLP 89,443.8 17 27. Houlihan Lokey, Inc. 37,381.6 121 27. Clifford Chance LLP 88,629.1 78 28. Stifel/KBW 36,836.6 86 28. Goodmans LLP 84,650.0 15 29. BNP Paribas SA 34,547.3 47 29. Willkie Farr & Gallagher LLP 69,643.4 100 30. Ernst & Young Global Ltd. 34,510.6 197 30. Linklaters LLP 65,593.6 53 31. Cowen, Inc. 33,285.8 35 31. Vinson & Elkins LLP 65,052.1 59 32. BDT & Co. LLC 32,825.0 3 32. Dentons Rodyk & Davidson LLP 62,005.4 71 33. Piper Sandler Cos. 29,898.3 81 33. Shearman & Sterling LLP 61,586.0 67 34. Scotiabank 28,967.3 25 34. Proskauer Rose LLP 60,691.3 18 35. KPMG International Coop. 26,321.3 221 35. Hogan Lovells 60,432.5 92 36. HSBC Holdings Plc 25,928.9 25 36. Covington & Burling LLP 59,184.9 23 37. Canadian Imperial Bank of Commerce 24,999.0 4 37. Davies Ward Phillips & Vineberg LLP 57,162.0 9 38. Duff & Phelps LLC 23,744.7 21 38. Darrois Villey Maillot Brochier 53,775.0 8 39. Deloitte LLP 23,496.2 131 39. Hughes Hubbard & Reed LLP 53,508.3 11 40. Nomura Securities Co., Ltd. 22,704.4 42 40. Stikeman Elliott LLP 53,039.3 48 41. Macquarie Group 19,988.8 58 41. Morgan, Lewis & Bockius LLP 48,673.3 102 42. William Blair & Co. 19,791.0 101 42. Burnet, Duckworth & Palmer LLP 48,102.3 6 43. Qatalyst Group LP 18,842.8 6 43. A&L Goodbody 47,963.7 6 44. Robey Warshaw LLP 16,131.1 2 44. Norton Rose Fulbright LLP 47,844.4 47 45. Banco BTG Pactual SA 15,016.7 22 45. Dechert LLP 44,765.0 42 46. Raymond James Financial, Inc. 14,305.0 94 46. Paul Hastings LLP 42,326.9 79 47. BDO LLP 13,657.0 202 47. Wilson Sonsini Goodrich & Rosati 41,736.9 99 48. Discover Management Co. Ltd. 13,350.0 1 48. Slaughter & May Ltd. 40,932.8 23 49. Numis Corp. Plc 12,720.0 20 49. Jones Day LP 40,326.2 134 50. Robert W. Baird & Co. 12,630.8 72 50. Hengeler Mueller Partnerschaft 39,998.5 24

* Transaction Value is the aggregate base equity plus the target’s net debt, where applicable. ** Total Deals includes deals that reported a deal value as well as those that did not.

If you would like to participate in our league table rankings or have questions about league table criteria, please contact [email protected].

GLOBAL: ANNOUNCED DEALS – RANKED BY NUMBER OF DEALS Transaction Total Transaction Total Financial Advisor Value ($Mil) * Deals** Legal Advisor Value ($Mil) * Deals** 1. PricewaterhouseCoopers $57,928.2 344 1. Kirkland & Ellis LLP $286,238.3 371 2. JPMorgan Chase & Co 734,143.1 250 2. Latham & Watkins LLP 321,898.4 283 3. Goldman Sachs & Co. 723,234.9 241 3. Goodwin Procter LLP 121,850.2 173 4. KPMG International Coop. 26,321.3 221 4. CMS Cameron Mckenna Nabarro 21,660.2 170 5. BDO LLP 13,657.0 202 5. DLA Piper Group 32,871.7 150 6. Ernst & Young Global Ltd. 34,510.6 197 6. Skadden, Arps, Slate, Meagher & Flom 284,052.3 136 7. Rothschild & Co 80,409.8 186 7. Jones Day LP 40,326.2 134 8. Morgan Stanley 568,761.9 179 8. Allen & Overy LLP 89,966.1 132 9. Citigroup 368,175.9 148 9. Cooley LLP 104,844.0 123 10. Jefferies LLC 119,145.5 135 10. Weil, Gotshal & Manges LLP 174,584.5 109 11. Deloitte LLP 23,496.2 131 11. Morgan, Lewis & Bockius LLP 48,673.3 102 12. Barclays Plc 281,403.6 126 12. Willkie Farr & Gallagher LLP 69,643.4 100 13. BofA Securities, Inc. 374,154.6 124 13. Wilson Sonsini Goodrich & Rosati 41,736.9 99 14. Houlihan Lokey, Inc. 37,381.6 121 14. Simpson Thacher & Bartlett LLP 296,251.8 96 15. Credit Suisse 222,637.1 111 15. Sullivan & Cromwell LLP 387,083.4 95 16. William Blair & Co. 19,791.0 101 15. White & Case LLP 134,102.5 95 17. Raymond James Financial, Inc. 14,305.0 94 17. Hogan Lovells 60,432.5 92 18. Stifel/KBW 36,836.6 86 18. Gibson, Dunn & Crutcher LLP 103,662.6 89 18. Lazard 153,251.2 86 19. Squire Patton Boggs (US) LLP 20,014.3 87 20. Piper Sandler Cos. 29,898.3 81 19. Herbert Smith Freehills LLP 106,979.2 87 21. Moelis & Co. 78,373.8 77 21. Paul Hastings LLP 42,326.9 79 21. UBS Group AG 174,547.8 77 22. Clifford Chance LLP 88,629.1 78 23. GCA Corp. 7,403.8 73 23. Paul, Weiss, Rifkind, Wharton & Garrison 229,999.0 77 24. RBC Capital Markets 147,447.9 72 24. Alston & Bird LLP 107,506.5 76 24. Robert W. Baird & Co. 12,630.8 72 25. Ropes & Gray LLP 121,162.4 75 24. Evercore, Inc. 204,587.4 72 26. Freshfields Bruckhaus Deringer LLP 103,947.5 72 27. Lincoln International LLC 1,280.7 63 27. Dentons Rodyk & Davidson LLP 62,005.4 71 28. Clairfield International SA 584.5 62 28. Sidley Austin LLP 95,931.3 68 29. Macquarie Group 19,988.8 58 28. Baker & McKenzie LLP 23,446.2 68 29. Deutsche Bank AG 143,033.4 58 30. Shearman & Sterling LLP 61,586.0 67 29. Daiwa / DC Advisory 7,150.1 58 31. Blake, Cassels & Graydon LLP 101,539.6 64 32. ALANTRA 3,351.1 55 32. McDermott Will & Emery LLP 6,408.1 62 33. Canaccord Genuity Group, Inc. 9,070.3 54 33. Vinson & Elkins LLP 65,052.1 59 34. Grant Thornton International Ltd. 1,236.5 51 33. Wachtell, Lipton, Rosen & Katz 299,703.3 59 35. Benchmark International Co 5.9 49 35. Cleary Gottlieb Steen & Hamilton LLP 91,548.4 58 36. BNP Paribas SA 34,547.3 47 35. Advokatfirman Vinge KB 11,922.5 58 37. Guggenheim Capital LLC 106,813.2 43 37. Mayer Brown LLP 28,889.5 56 38. Nomura Securities Co., Ltd. 22,704.4 42 37. Davis Polk & Wardwell LLP 133,786.3 56 39. Eight Advisory SAS 6,132.1 41 39. Linklaters LLP 65,593.6 53 40. Harris Williams & Co. 4,305.0 38 40. Winston & Strawn LLP 19,333.0 51 40. Centerview Partners LLC 119,471.4 38 41. Orrick, Herrington & Sutcliffe LLP 22,934.1 50 40. Clearwater International 1,150.9 38 42. Stikeman Elliott LLP 53,039.3 48 43. Rabobank 1,322.0 37 42. Addleshaw Goddard LLP 865.6 48 43. Ebner Stolz Mönning Bachem 251.3 37 42. Fenwick & West LLP 23,102.1 48 45. Perella Weinberg Partners 131,336.7 36 42. AZB & Partners 37,385.2 48 45. Bank of Montreal 75,377.9 36 42. Debevoise & Plimpton LLP 136,218.4 48 47. Cowen, Inc. 33,285.8 35 47. Norton Rose Fulbright LLP 47,844.4 47 48. FTI Consulting, Inc. 8,368.3 33 48. Morrison & Foerster LLP 31,749.0 44 49. Wells Fargo & Co. 47,923.3 32 48. Cravath, Swaine & Moore LLP 240,837.8 44 50. CFI 43.8 29 50. Fried, Frank, Harris, Shriver & Jacobson 143,389.1 43

* Transaction Value is the aggregate base equity plus the target’s net debt, where applicable. ** Total Deals includes deals that reported a deal value as well as those that did not.

If you would like to participate in our league table rankings or have questions about league table criteria, please contact [email protected].

US: ANNOUNCED DEALS – RANKED BY TRANSACTION VALUE Transaction Total Transaction Total Financial Advisor Value ($Mil) * Deals** Legal Advisor Value ($Mil) * Deals** 1. Goldman Sachs & Co. $631,963.3 204 1. Simpson Thacher & Bartlett LLP $290,062.1 92 2. JPMorgan Chase & Co 568,091.4 183 2. Sullivan & Cromwell LLP 285,986.4 84 3. Morgan Stanley 480,694.9 139 3. Kirkland & Ellis LLP 281,929.1 358 4. BofA Securities, Inc. 319,352.5 102 4. Wachtell, Lipton, Rosen & Katz 271,587.6 56 5. Citigroup 310,947.2 106 5. Skadden, Arps, Slate, Meagher & Flom 266,398.1 114 6. Barclays Plc 233,018.3 106 6. Latham & Watkins LLP 247,514.3 229 7. Evercore, Inc. 188,339.6 63 7. Paul, Weiss, Rifkind, Wharton & Garrison 227,653.5 73 8. Credit Suisse 179,898.3 87 8. Cravath, Swaine & Moore LLP 213,463.7 42 9. RBC Capital Markets 136,671.5 56 9. Weil, Gotshal & Manges LLP 166,937.3 88 10. UBS Group AG 123,277.7 50 10. Fried, Frank, Harris, Shriver & Jacobson 142,855.6 39 11. Jefferies LLC 112,747.9 117 11. Debevoise & Plimpton LLP 133,961.7 45 12. Centerview Partners LLC 112,339.9 36 12. Davis Polk & Wardwell LLP 131,069.5 51 13. Allen & Co., Inc. 106,683.8 10 13. Ropes & Gray LLP 118,762.6 73 14. PJT Partners, Inc. 103,161.2 21 14. White & Case LLP 110,779.9 62 15. Guggenheim Capital LLC 100,326.0 42 15. Alston & Bird LLP 107,505.9 75 16. Deutsche Bank AG 99,570.4 45 16. Cooley LLP 104,183.2 117 17. Perella Weinberg Partners 95,506.1 32 17. Gibson, Dunn & Crutcher LLP 101,699.1 77 18. LionTree LLC 88,952.8 17 18. Sidley Austin LLP 95,936.3 62 19. Lazard 75,305.7 53 19. Wilmer Cutler Pickering Hale & Dorr LLP 89,443.8 17 20. Moelis & Co. 73,155.5 68 20. Herbert Smith Freehills LLP 88,251.5 23 21. Bank of Montreal 58,558.4 23 21. Cleary Gottlieb Steen & Hamilton LLP 78,849.9 43 22. Wells Fargo & Co. 47,923.3 32 22. Willkie Farr & Gallagher LLP 70,477.6 78 23. Rothschild & Co 42,546.5 66 23. Allen & Overy LLP 69,511.4 45 24. Houlihan Lokey, Inc. 35,725.0 107 24. Clifford Chance LLP 66,748.4 32 25. PricewaterhouseCoopers 34,837.7 77 25. Goodwin Procter LLP 66,547.5 155 26. Stifel/KBW 34,448.2 75 26. Vinson & Elkins LLP 64,358.1 55 27. BDT & Co. LLC 32,825.0 3 27. Proskauer Rose LLP 60,691.3 13 28. Cowen, Inc. 32,114.8 29 28. Shearman & Sterling LLP 55,526.0 45 29. Société Générale SA 31,522.6 4 29. Covington & Burling LLP 53,879.3 22 30. Piper Sandler Cos. 29,898.3 79 30. Hughes Hubbard & Reed LLP 53,508.3 11 31. Ernst & Young Global Ltd. 25,270.5 49 31. Freshfields Bruckhaus Deringer LLP 50,951.1 40 32. Duff & Phelps LLC 22,919.6 14 32. A&L Goodbody 47,963.7 6 33. William Blair & Co. 19,112.4 88 33. Hogan Lovells 47,864.7 51 34. Robey Warshaw LLP 16,131.1 2 34. Morgan, Lewis & Bockius LLP 47,386.3 90 35. BNP Paribas SA 14,414.3 14 35. Stikeman Elliott LLP 45,961.4 24 36. Raymond James Financial, Inc. 13,866.3 77 36. Darrois Villey Maillot Brochier 45,214.0 3 37. Qatalyst Group LP 13,537.2 5 37. Dechert LLP 42,849.3 28 38. Nomura Securities Co., Ltd. 13,190.3 22 38. Norton Rose Fulbright LLP 41,520.0 29 39. Robert W. Baird & Co. 12,630.8 69 39. Paul Hastings LLP 38,583.1 61 40. Numis Corp. Plc 12,569.6 10 40. NautaDutilh NV 37,151.9 11 41. CDX Advisors LLC 11,929.9 3 41. Torys LLP 34,083.6 4 42. Macquarie Group 10,976.5 26 42. Jones Day LP 33,879.2 106 43. Connaught (UK) Ltd. 10,042.5 2 43. Davies Ward Phillips & Vineberg LLP 33,622.7 2 44. EA Markets LLC 9,362.0 1 44. Baker & Miller Pllc 33,419.3 2 45. Cassel Salpeter & Co. LLC 9,126.9 2 45. Wilson Sonsini Goodrich & Rosati 32,806.9 93 46. Mizuho Financial Group, Inc. 8,947.7 11 46. Agon Partners Legal AG 32,769.3 1 47. Ardea Partners LP 8,793.2 7 47. McCann Fitzgerald 31,669.1 3 48. TripleTree LLC 8,355.0 8 48. DLA Piper Group 29,677.6 70 49. JMP Group LLC 8,339.3 4 49. Baker Botts LLP 28,377.5 25 50. Financial Technology Partners LP 8,156.3 7 50. Arnold & Porter Kaye Scholer LLP 28,066.7 15

* Transaction Value is the aggregate base equity plus the target’s net debt, where applicable. ** Total Deals includes deals that reported a deal value as well as those that did not.

If you would like to participate in our league table rankings or have questions about league table criteria, please contact [email protected].

US: ANNOUNCED DEALS – RANKED BY NUMBER OF DEALS

Transaction Total Transaction Total Financial Advisor Value ($Mil) * Deals** Legal Advisor Value ($Mil) * Deals** 1. Goldman Sachs & Co. $631,963.3 204 1. Simpson Thacher & Bartlett LLP $290,124.1 92 2. JPMorgan Chase & Co 568,091.4 183 2. Sullivan & Cromwell LLP 285,987.0 84 3. Morgan Stanley 480,694.9 139 3. Kirkland & Ellis LLP 282,594.4 358 4. Jefferies LLC 112,747.9 117 4. Wachtell, Lipton, Rosen & Katz 271,588.2 56 5. Houlihan Lokey, Inc. 35,725.0 107 5. Skadden, Arps, Slate, Meagher & Flom 266,307.1 114 6. Barclays Plc 233,018.3 106 6. Latham & Watkins LLP 247,576.2 229 6. Citigroup 310,947.2 106 7. Paul, Weiss, Rifkind, Wharton & Garrison 227,653.5 73 8. BofA Securities, Inc. 319,352.5 102 8. Cravath, Swaine & Moore LLP 213,463.7 42 9. William Blair & Co. 19,112.4 88 9. Weil, Gotshal & Manges LLP 166,937.3 88 10. Credit Suisse 179,898.3 87 10. Fried, Frank, Harris, Shriver & Jacobson 143,370.2 40 11. Piper Sandler Cos. 29,898.3 79 11. Debevoise & Plimpton LLP 134,023.7 45 12. Raymond James Financial, Inc. 13,866.3 77 12. Davis Polk & Wardwell LLP 131,079.8 51 12. PricewaterhouseCoopers 34,837.7 77 13. Ropes & Gray LLP 118,762.6 73 14. Stifel/KBW 34,448.2 75 14. White & Case LLP 110,779.9 62 15. Robert W. Baird & Co. 12,630.8 69 15. Alston & Bird LLP 107,506.5 75 16. Moelis & Co. 73,155.5 68 16. Cooley LLP 104,182.1 117 17. Rothschild & Co 42,546.5 66 17. Gibson, Dunn & Crutcher LLP 102,364.4 77 18. Evercore, Inc. 188,339.6 63 18. Sidley Austin LLP 95,931.3 62 19. RBC Capital Markets 136,671.5 56 19. Wilmer Cutler Pickering Hale & Dorr LLP 89,443.8 17 20. Lazard 75,305.7 53 20. Herbert Smith Freehills LLP 85,204.5 22 21. KPMG International Coop. 6,902.4 52 21. Cleary Gottlieb Steen & Hamilton LLP 78,849.9 43 22. UBS Group AG 123,277.7 50 22. Allen & Overy LLP 69,511.4 45 23. Ernst & Young Global Ltd. 25,270.5 49 23. Clifford Chance LLP 66,748.4 32 24. Deutsche Bank AG 99,570.4 45 24. Willkie Farr & Gallagher LLP 66,580.9 80

24. Lincoln International LLC 1,280.7 45 25. Goodwin Procter LLP 66,547.5 155 26. Guggenheim Capital LLC 100,326.0 42 26. Vinson & Elkins LLP 64,358.1 55 27. Deloitte LLP 6,481.4 41 27. Proskauer Rose LLP 60,691.3 13 28. Centerview Partners LLC 112,339.9 36 28. Shearman & Sterling LLP 55,526.0 45 29. Harris Williams & Co. 4,119.4 35 29. Covington & Burling LLP 53,879.3 22 30. Wells Fargo & Co. 47,923.3 32 30. Hughes Hubbard & Reed LLP 53,508.3 11 30. Perella Weinberg Partners 95,506.1 32 31. Freshfields Bruckhaus Deringer LLP 50,951.1 40 32. Canaccord Genuity Group, Inc. 6,973.2 30 32. A&L Goodbody 47,963.7 6 32. BDO LLP 1,688.9 30 33. Hogan Lovells 47,864.7 51 34. Cowen, Inc. 32,114.8 29 34. Morgan, Lewis & Bockius LLP 47,396.7 90 35. ALANTRA 1,878.0 27 35. Stikeman Elliott LLP 45,961.4 24 36. Macquarie Group 10,976.5 26 36. Darrois Villey Maillot Brochier 45,214.0 3 37. KeyBanc Capital Markets, Inc. 3,079.2 24 37. Dechert LLP 42,849.3 28 38. Bank of Montreal 58,558.4 23 38. Norton Rose Fulbright LLP 41,520.0 29 38. Truist Financial Corp. 3,903.9 23 39. Paul Hastings LLP 38,583.1 61 38. Generational Equity LLC 4.5 23 40. NautaDutilh NV 37,151.9 11 41. Nomura Securities Co., Ltd. 13,190.3 22 41. Torys LLP 34,083.6 4 42. PJT Partners, Inc. 103,161.2 21 42. Jones Day LP 33,879.2 108 43. GCA Corp. 5,731.7 19 43. Davies Ward Phillips & Vineberg LLP 33,622.7 2 43. FTI Consulting, Inc. 7,518.0 19 44. Baker & Miller Pllc 33,419.3 2 45. LionTree LLC 88,952.8 17 45. Wilson Sonsini Goodrich & Rosati 32,806.9 93 46. Stephens Inc 1,824.7 16 46. Agon Partners Legal AG 32,769.3 1 47. Daiwa / DC Advisory 592.2 15 47. McCann Fitzgerald 31,669.1 4 48. Duff & Phelps LLC 22,919.6 14 48. DLA Piper Group 29,677.6 71 48. BNP Paribas SA 14,414.3 14 49. Baker Botts LLP 28,377.5 25 48. Alvarez & Marsal, Inc. 2,000.0 14 50. Arnold & Porter Kaye Scholer LLP 28,066.7 15

* Transaction Value is the aggregate base equity plus the target’s net debt, where applicable. ** Total Deals includes deals that reported a deal value as well as those that did not.

If you would like to participate in our league table rankings or have questions about league table criteria, please contact [email protected].

US MIDDLE MARKET: ANNOUNCED DEALS – RANKED BY TRANSACTION VALUE Transaction Total Transaction Total Financial Advisor Value ($Mil) * Deals** Legal Advisor Value ($Mil) * Deals** 1. Goldman Sachs & Co. $6,814.5 61 1. Cooley LLP $8,699.0 90 2. JPMorgan Chase & Co 6,522.5 63 2. Latham & Watkins LLP 8,671.2 148 3. Stifel/KBW 6,425.0 64 3. Kirkland & Ellis LLP 7,966.2 263 4. Citigroup 5,503.3 36 4. Goodwin Procter LLP 5,931.8 128 5. Jefferies LLC 5,090.8 68 5. Hogan Lovells 4,495.3 41 6. Piper Sandler Cos. 4,940.2 65 6. Morgan, Lewis & Bockius LLP 4,310.8 77 7. Houlihan Lokey, Inc. 4,929.9 91 7. Paul, Weiss, Rifkind, Wharton & Garrison 4,137.7 42 8. Evercore, Inc. 4,046.0 29 8. Willkie Farr & Gallagher LLP 4,034.5 63 9. Guggenheim Capital LLC 3,949.6 28 9. Skadden, Arps, Slate, Meagher & Flom 3,895.4 53 10. Morgan Stanley 3,900.5 38 10. Gibson, Dunn & Crutcher LLP 3,890.6 46 11. Robert W. Baird & Co. 3,583.2 64 11. Fenwick & West LLP 3,568.4 34 12. Deloitte LLP 3,481.5 40 12. Sidley Austin LLP 3,556.9 40 13. RBC Capital Markets 3,363.3 34 13. Blake, Cassels & Graydon LLP 3,097.7 27 14. Raymond James Financial, Inc. 3,288.1 71 14. Jones Day LP 2,903.6 94 15. Perella Weinberg Partners 3,190.6 18 15. Orrick, Herrington & Sutcliffe LLP 2,808.7 23 16. BofA Securities, Inc. 3,177.3 36 16. Stikeman Elliott LLP 2,801.6 16 17. Rothschild & Co 2,877.1 50 17. DLA Piper Group 2,732.2 50 18. Moelis & Co. 2,857.8 37 18. Debevoise & Plimpton LLP 2,705.5 27 19. Barclays Plc 2,345.8 41 19. Baker Botts LLP 2,574.5 18 20. William Blair & Co. 2,294.0 78 20. Alston & Bird LLP 2,459.1 59 21. PricewaterhouseCoopers 2,270.4 64 21. Holland & Knight LLP 2,414.3 20 22. Ernst & Young Global Ltd. 2,184.6 40 22. Wilson Sonsini Goodrich & Rosati 2,406.3 72 23. Canaccord Genuity Group, Inc. 2,092.3 27 23. Greenberg Traurig PA 2,403.9 23 24. Lazard 2,072.4 33 24. Vinson & Elkins LLP 2,399.1 33 25. Truist Financial Corp. 1,987.8 21 25. Morrison & Foerster LLP 2,395.7 28 26. UBS Group AG 1,929.3 22 26. Weil, Gotshal & Manges LLP 2,260.7 53 27. Wells Fargo & Co. 1,897.4 18 27. Ropes & Gray LLP 2,189.8 45 28. Credit Suisse 1,784.6 19 28. Mayer Brown LLP 2,162.8 32 29. KPMG International Coop. 1,721.8 47 29. Sullivan & Cromwell LLP 2,151.1 29 30. Centerview Partners LLC 1,667.0 16 30. Winston & Strawn LLP 2,135.1 41 31. Macquarie Group 1,511.0 23 31. AZB & Partners 2,084.3 22 32. BNP Paribas SA 1,447.8 10 32. Sheppard, Mullin, Richter & Hampton LLP 1,962.3 23 33. The Toronto-Dominion Bank 1,406.9 9 33. Shearman & Sterling LLP 1,925.7 25 34. Nomura Securities Co., Ltd. 1,398.0 13 34. Wachtell, Lipton, Rosen & Katz 1,910.9 23 35. Deutsche Bank AG 1,350.0 11 35. Norton Rose Fulbright LLP 1,901.8 24 36. Janney Montgomery Scott LLC 1,256.8 12 36. Reed Smith LLP 1,865.6 20 37. Harris Williams & Co. 1,247.9 32 37. White & Case LLP 1,865.5 34 38. Cowen, Inc. 1,179.5 13 38. Cleary Gottlieb Steen & Hamilton LLP 1,787.7 20 39. Bank of Montreal 1,130.2 11 39. Allen & Overy LLP 1,784.7 33 40. ALANTRA 1,054.3 33 40. Wilmer Cutler Pickering Hale & Dorr LLP 1,773.6 13 41. Scotiabank 992.1 5 41. Troutman Pepper Hamilton Sanders LLP 1,764.0 21 42. KeyBanc Capital Markets, Inc. 929.2 23 42. Bass, Berry & Sims Plc 1,758.8 20 43. Greenhill & Co., Inc. 919.9 8 43. Baker & McKenzie LLP 1,746.0 27 44. Stephens Inc 864.7 15 44. Paul Hastings LLP 1,689.3 45 45. Duff & Phelps LLC 846.9 9 45. Freshfields Bruckhaus Deringer LLP 1,683.4 24 46. GCA Corp. 840.4 18 46. Bryan Cave Leighton Paisner LLP 1,623.1 11 47. Foros Group LLC 840.0 2 47. Simpson Thacher & Bartlett LLP 1,606.3 37 48. District Capital Partners LLC 825.0 4 48. Covington & Burling LLP 1,591.0 13 49. Hovde Group LLC 824.3 7 49. Osler, Hoskin & Harcourt LLP 1,525.3 13 50. B. Riley Financial, Inc. 787.6 6 50. Fried, Frank, Harris, Shriver & Jacobson LLP 1,462.5 18

* Transaction Value is the aggregate base equity plus the target’s net debt, where applicable. ** Total Deals includes deals that reported a deal value as well as those that did not.

If you would like to participate in our league table rankings or have questions about league table criteria, please contact [email protected].

US MIDDLE MARKET: ANNOUNCED DEALS – RANKED BY NUMBER OF DEALS

Transaction Total Transaction Total Financial Advisor Value ($Mil) * Deals** Legal Advisor Value ($Mil) * Deals** 1. Houlihan Lokey, Inc. $4,929.9 91 1. Kirkland & Ellis LLP $7,966.2 263 2. William Blair & Co. 2,294.0 78 2. Latham & Watkins LLP 8,671.2 148 3. Raymond James Financial, Inc. 3,288.1 71 3. Goodwin Procter LLP 5,931.8 128 4. Jefferies LLC 5,090.8 68 4. Jones Day LP 2,903.6 94 5. Piper Sandler Cos. 4,940.2 65 5. Cooley LLP 8,699.0 90 6. PricewaterhouseCoopers 2,270.4 64 6. Morgan, Lewis & Bockius LLP 4,310.8 77 6. Stifel/KBW 6,425.0 64 7. Wilson Sonsini Goodrich & Rosati 2,406.3 72 6. Robert W. Baird & Co. 3,583.2 64 8. Willkie Farr & Gallagher LLP 4,034.5 63 9. JPMorgan Chase & Co 6,522.5 63 9. Alston & Bird LLP 2,459.1 59 10. Goldman Sachs & Co. 6,814.5 61 10. Weil, Gotshal & Manges LLP 2,260.7 53 11. Rothschild & Co 2,877.1 50 10. Skadden, Arps, Slate, Meagher & Flom 3,895.4 53 12. KPMG International Coop. 1,721.8 47 12. DLA Piper Group 2,732.2 50 13. Lincoln International LLC 769.1 44 13. Gibson, Dunn & Crutcher LLP 3,890.6 46 14. Barclays Plc 2,345.8 41 14. Paul Hastings LLP 1,689.3 45 15. Ernst & Young Global Ltd. 2,184.6 40 14. Ropes & Gray LLP 2,189.8 45 15. Deloitte LLP 3,481.5 40 16. Paul, Weiss, Rifkind, Wharton & Garrison 4,137.7 42 17. Morgan Stanley 3,900.5 38 17. Winston & Strawn LLP 2,135.1 41 18. Moelis & Co. 2,857.8 37 17. Hogan Lovells 4,495.3 41 19. BofA Securities, Inc. 3,177.3 36 19. Sidley Austin LLP 3,556.9 40 19. Citigroup 5,503.3 36 20. Simpson Thacher & Bartlett LLP 1,606.3 37 21. RBC Capital Markets 3,363.3 34 21. White & Case LLP 1,865.5 34 22. ALANTRA 1,054.3 33 21. Fenwick & West LLP 3,568.4 34 22. Lazard 2,072.4 33 23. Vinson & Elkins LLP 2,399.1 33 24. Harris Williams & Co. 1,247.9 32 23. Squire Patton Boggs (US) LLP 1,381.8 33

25. BDO LLP 288.9 30 23. Allen & Overy LLP 1,784.7 33 26. Evercore, Inc. 4,046.0 29 26. Mayer Brown LLP 2,162.8 32 27. Guggenheim Capital LLC 3,949.6 28 26. McDermott Will & Emery LLP 1,035.0 32 28. Canaccord Genuity Group, Inc. 2,092.3 27 28. Sullivan & Cromwell LLP 2,151.1 29 29. Macquarie Group 1,511.0 23 29. Pillsbury Winthrop Shaw Pittman LLP 879.7 28 29. Generational Equity LLC 4.5 23 29. CMS Cameron Mckenna Nabarro 282.2 28 29. KeyBanc Capital Markets, Inc. 929.2 23 29. Morrison & Foerster LLP 2,395.7 28 32. UBS Group AG 1,929.3 22 32. Baker & McKenzie LLP (Illinois) 1,746.0 27 33. Truist Financial Corp. 1,987.8 21 32. Blake, Cassels & Graydon LLP 3,097.7 27 34. Credit Suisse 1,784.6 19 32. Debevoise & Plimpton LLP 2,705.5 27 35. GCA Corp. 840.4 18 35. Shearman & Sterling LLP 1,925.7 25 35. Wells Fargo & Co. 1,897.4 18 35. Davis Polk & Wardwell LLP 1,253.0 25 35. Perella Weinberg Partners 3,190.6 18 37. Norton Rose Fulbright LLP 1,901.8 24 38. FTI Consulting, Inc. 627.0 17 37. Freshfields Bruckhaus Deringer LLP 1,683.4 24 39. Centerview Partners LLC 1,667.0 16 39. Wachtell, Lipton, Rosen & Katz 1,910.9 23 40. Daiwa / DC Advisory 592.2 15 39. Orrick, Herrington & Sutcliffe LLP 2,808.7 23 40. Stephens Inc 864.7 15 39. Sheppard, Mullin, Richter & Hampton LLP 1,962.3 23 42. Alvarez & Marsal, Inc. - 13 39. Greenberg Traurig PA 2,403.9 23 42. Cowen, Inc. 1,179.5 13 43. AZB & Partners 2,084.3 22 42. Nomura Securities Co., Ltd. 1,398.0 13 43. Dechert LLP 895.1 22 45. Waller Helms Advisors LLC 230.0 12 45. Troutman Pepper Hamilton Sanders LLP 1,764.0 21 45. Janney Montgomery Scott LLC 1,256.8 12 46. Reed Smith LLP 1,865.6 20 47. D. A. Davidson Cos. 498.3 11 46. Bass, Berry & Sims Plc 1,758.8 20 47. Bank of Montreal 1,130.2 11 46. Holland & Knight LLP 2,414.3 20 47. Deutsche Bank AG 1,350.0 11 46. Cleary Gottlieb Steen & Hamilton LLP 1,787.7 20 50. BNP Paribas SA 1,447.8 10 50. Fried, Frank, Harris, Shriver & Jacobson LLP 1,462.5 18

* Transaction Value is the aggregate base equity plus the target’s net debt, where applicable. ** Total Deals includes deals that reported a deal value as well as those that did not.

If you would like to participate in our league table rankings or have questions about league table criteria, please contact [email protected].

US: SPAC ACQUISITIONS – RANKED BY TRANSACTION VALUE Transaction Total Transaction Total Financial Advisor Value ($Mil) * Deals** Legal Advisor Value ($Mil) * Deals** 1. Citigroup $135,177.4 24 1. Latham & Watkins LLP $91,507.2 35 2. BofA Securities, Inc. 100,884.9 18 2. Davis Polk & Wardwell LLP 89,518.8 9 3. Goldman Sachs & Co. 94,287.6 28 3. Weil, Gotshal & Manges LLP 87,370.4 11 4. Guggenheim Capital LLC 68,410.0 7 4. Skadden, Arps, Slate, Meagher & Flom 56,916.3 16 5. Morgan Stanley 67,405.0 20 5. White & Case LLP 52,431.7 17 6. JPMorgan Chase & Co 66,057.5 28 6. Kirkland & Ellis LLP 52,061.8 29 7. Credit Suisse 56,495.1 24 7. Sullivan & Cromwell LLP 35,539.6 12 8. Barclays Plc 40,557.1 17 8. Vinson & Elkins LLP 33,054.0 9 9. Allen & Co., Inc. 33,853.8 4 9. Goodwin Procter LLP 31,371.2 17 10. Jefferies LLC 33,209.4 21 10. Cooley LLP 24,728.2 14 11. Deutsche Bank AG 24,901.6 14 11. Wachtell, Lipton, Rosen & Katz 24,662.5 2 12. Evercore, Inc. 15,636.1 6 12. Ropes & Gray LLP 22,146.6 6 13. Moelis & Co. 14,832.1 10 13. Morgan, Lewis & Bockius LLP 20,752.8 5 14. Cowen, Inc. 12,618.3 12 14. Wilson Sonsini Goodrich & Rosati 18,650.8 14 15. UBS Group AG 12,323.2 5 15. Cleary Gottlieb Steen & Hamilton 14,947.2 5 16. PJT Partners, Inc. 11,974.6 5 16. Morrison & Foerster LLP 14,342.2 2 17. Connaught (UK) Ltd. 10,042.5 2 17. Gibson, Dunn & Crutcher LLP 13,635.6 8 18. Lazard 7,937.3 4 18. Simpson Thacher & Bartlett LLP 13,171.7 4 19. Perella Weinberg Partners 7,747.8 4 19. Meitar Law Offices 12,402.2 2 20. Stifel/KBW 7,348.6 5 20. Shearman & Sterling LLP 11,421.7 6 21. William Blair & Co. 6,539.2 5 21. Orrick, Herrington & Sutcliffe LLP 11,344.1 7 22. LionTree LLC 6,374.7 2 22. Sidley Austin LLP 10,965.3 3 23. Oppenheimer & Co., Inc. 5,917.0 3 23. I. Gornitzky & Co. 10,382.7 1 24. Houlihan Lokey, Inc. 5,685.1 4 24. Maples Group 9,998.0 2 25. Financial Technology Partners LP 5,153.3 2 25. Winston & Strawn LLP 9,399.4 4 26. The Raine Group LLC 4,836.7 3 26. Paul Hastings LLP 9,154.8 7 27. Cantor Fitzgerald LP 4,540.2 2 27. Fenwick & West LLP 9,026.0 5 28. Natixis SA 3,975.6 2 28. DLA Piper Group 8,852.2 7 29. BNP Paribas SA 3,949.3 1 29. Fried, Frank, Harris, Shriver & Jacobson 8,785.8 2 30. Centerview Partners LLC 3,560.0 1 30. Milbank LLP 8,104.5 5 31. Greenhill & Co., Inc. 3,340.2 3 31. Greenberg Traurig PA 7,648.6 7 32. Nomura Securities Co., Ltd. 3,245.8 4 32. Baker & McKenzie LLP 7,167.8 1 33. Riverside Management Group LLC 3,093.3 1 33. Loeb & Loeb LLP 6,640.6 8 34. Canaccord Genuity Group, Inc. 3,086.6 5 34. Freshfields Bruckhaus Deringer LLP 6,557.5 2 35. Odeon Capital Group LLC 3,060.7 1 35. Squire Patton Boggs (US) LLP 6,178.6 2 36. Piper Sandler Cos. 3,029.7 2 36. Cadwalader, Wickersham & Taft LLP 6,141.1 2 37. Craft Partners LLC 3,002.5 1 37. Graubard Miller 6,083.8 3 38. Duff & Phelps LLC 2,838.9 1 38. Dechert LLP 5,448.9 1 39. Robert W. Baird & Co. 2,697.6 1 39. Ellenoff Grossman & Schole LLP 5,144.9 6 40. HSBC Holdings Plc 2,608.1 1 40. Mayer Brown LLP 4,772.7 3 41. Wells Fargo & Co. 2,544.5 2 41. Paul, Weiss, Rifkind, Wharton & Garrison 4,590.1 4 42. Northland Capital Holdings, Inc. 2,070.7 1 42. Husch Blackwell LLP 4,391.3 1 43. Rothschild & Co 1,961.1 1 43. King & Spalding LLP 4,342.7 2 44. Chardan Capital Markets LLC 1,934.2 4 44. Alston & Bird LLP 4,126.3 3 45. Valuation Research Corp. 1,826.6 1 45. Willkie Farr & Gallagher LLP 4,057.7 4 46. Condor Trading LP 1,701.5 2 46. Cabinet Bompoint 3,949.3 1 47. Ardea Partners LP 1,699.3 1 46. Stibbe NV 3,949.3 1 48. Bank of Montreal 1,386.2 1 48. O'Melveny & Myers LLP 3,931.7 2 49. Qatar Islamic Bank 1,257.0 1 49. Hughes Hubbard & Reed LLP 3,173.8 2 50. RBC Capital Markets 1,158.1 1 50. Pillsbury Winthrop Shaw Pittman LLP 3,044.6 2

* Transaction Value is the aggregate base equity plus the target’s net debt, where applicable. ** Total Deals includes deals that reported a deal value as well as those that did not.

If you would like to participate in our league table rankings or have questions about league table criteria, please contact [email protected].

EUROPE: ANNOUNCED DEALS – RANKED BY TRANSACTION VALUE Transaction Total Transaction Total Financial Advisor Value (€Mil)* Deals** Legal Advisor Value (€Mil)* Deals** 1. Goldman Sachs & Co. €227,248.8 92 1. Sullivan & Cromwell LLP €94,537.6 35 2. JPMorgan Chase & Co 212,422.0 100 2. Herbert Smith Freehills LLP 73,290.9 39 3. Morgan Stanley 172,728.8 71 3. Freshfields Bruckhaus Deringer LLP 72,073.1 59 4. Citigroup 102,933.2 63 4. Clifford Chance LLP 70,440.6 66 5. Deutsche Bank AG 76,115.4 26 5. Cravath, Swaine & Moore LLP 66,863.0 17 6. PJT Partners, Inc. 72,727.3 12 6. Kirkland & Ellis LLP 66,407.2 92 7. BofA Securities, Inc. 72,054.9 40 7. Latham & Watkins LLP 63,715.5 132 8. Société Générale SA 67,305.2 14 8. Allen & Overy LLP 62,065.3 112 9. Evercore, Inc. 61,015.8 27 9. Paul, Weiss, Rifkind, Wharton 53,590.6 17 10. Rothschild & Co 57,184.7 149 10. Weil, Gotshal & Manges LLP 48,811.4 51 11. Credit Suisse 56,240.0 36 11. Darrois Villey Maillot Brochier 45,172.5 8 12. UBS Group AG 56,219.0 31 12. Skadden, Arps, Slate, Meagher & Flom 42,846.9 46 13. Barclays Plc 51,888.8 45 13. A&L Goodbody 39,936.5 5 14. PricewaterhouseCoopers 42,167.6 266 14. Wachtell, Lipton, Rosen & Katz 36,159.7 10 15. Perella Weinberg Partners 38,227.7 13 15. Covington & Burling LLP 34,463.0 8 16. Lazard 33,593.7 50 16. Bredin Prat & Associés 33,612.2 13 17. Centerview Partners LLC 28,614.9 17 17. Simpson Thacher & Bartlett LLP 33,013.6 25 18. BNP Paribas SA 26,535.2 40 18. Hengeler Mueller Partnerschaft 32,918.8 24 19. Jefferies LLC 25,572.2 41 19. NautaDutilh NV 31,479.9 16 20. Ernst & Young Global Ltd. 23,712.4 178 20. Linklaters LLP 30,853.6 46 21. Moelis & Co. 20,159.1 22 21. Gleiss Lutz 30,150.6 9 22. Deloitte LLP 13,555.1 95 22. Slaughter & May Ltd. 29,133.4 21 23. Robey Warshaw LLP 13,550.4 2 23. McCann Fitzgerald 27,260.1 6 24. Houlihan Lokey, Inc. 12,405.4 42 24. Shearman & Sterling LLP 25,472.7 29 25. Numis Corp. Plc 10,679.8 19 25. Fried, Frank, Harris, Shriver & Jacobson 25,393.2 16 26. Duff & Phelps LLC 10,025.7 10 26. Gianni, Origoni, Grippo, Cappelli 23,449.5 28 27. Guggenheim Capital LLC 9,886.6 9 27. Ropes & Gray LLP 22,583.2 16 28. CDX Advisors LLC 9,830.0 3 28. Macfarlanes LLP 21,386.7 21 29. RBC Capital Markets 8,666.9 15 29. Davis Polk & Wardwell LLP 20,995.5 15 30. Nomura Securities Co., Ltd. 8,415.7 16 30. Sidley Austin LLP 17,918.4 21 31. HSBC Holdings Plc 7,897.3 15 31. Cleary Gottlieb Steen & Hamilton LLP 17,712.1 27 32. KPMG International Coop. 7,804.0 167 32. Goodwin Procter LLP 17,686.9 46 33. EA Markets LLC 7,700.0 1 33. Ashurst LLP 17,356.0 18 34. Carnegie ASA 7,191.0 22 34. AZB & Partners 16,850.6 18 35. Piper Sandler Cos. 7,071.5 15 35. Gibson, Dunn & Crutcher LLP 16,717.6 27 36. Svenska Handelsbanken AB 6,927.8 3 36. Arthur Cox & Co. 16,364.0 10 37. Cowen, Inc. 6,679.7 8 37. CMS Cameron Mckenna Nabarro 15,954.1 162 38. Nordea Bank Abp 6,386.9 11 38. Jones Day LP 14,031.4 42 39. Qatalyst Group LP 6,248.5 2 39. Uría Menéndez Abogados SLP 13,881.8 28 40. Macquarie Group 5,891.3 31 40. Wilson Sonsini Goodrich & Rosati 13,315.7 21 41. TripleTree LLC 5,744.1 3 41. White & Case LLP 12,713.7 51 42. Natixis SA 5,725.2 19 42. Noerr LLP 12,460.0 20 43. Banco Santander SA 5,709.5 10 43. Blake, Cassels & Graydon LLP 12,392.0 11 44. Bank of Montreal 5,396.6 4 44. Baker & McKenzie LLP 12,101.8 45 45. DNB Bank ASA 5,268.6 10 45. Mayer Brown LLP 11,959.2 26 46. Robert W. Baird & Co. 5,248.7 17 46. Loyens & Loeff NV 11,328.8 14 47. AZ Capital SL 5,230.0 3 47. Cooley LLP 10,669.2 20 48. Eight Advisory SAS 5,077.7 41 48. Hogan Lovells 9,880.6 51 49. Raymond James Financial, Inc. 5,052.0 34 49. Schima Mayer Starlinger 9,644.3 1 50. Swedbank AB 4,916.2 2 49. Cahill Gordon & Reindel LLP 9,644.3 1

* Transaction Value is the aggregate base equity plus the target’s net debt, where applicable. ** Total Deals includes deals that reported a deal value as well as those that did not.

If you would like to participate in our league table rankings or have questions about league table criteria, please contact [email protected].

EUROPE: ANNOUNCED DEALS – RANKED BY NUMBER OF DEALS Transaction Total Transaction Total Financial Advisor Value (€Mil)* Deals** Legal Advisor Value (€Mil)* Deals** 1. PricewaterhouseCoopers €42,167.6 266 1. CMS Cameron Mckenna Nabarro €15,954.1 162 2. BDO LLP 1,276.3 182 2. Latham & Watkins LLP 63,715.5 132 3. Ernst & Young Global Ltd. 23,712.4 178 3. Allen & Overy LLP 62,065.3 112 4. KPMG International Coop. 7,804.0 167 4. DLA Piper Group 7,609.8 98 5. Rothschild & Co 57,184.7 149 5. Kirkland & Ellis LLP 66,407.2 92 6. JPMorgan Chase & Co 212,422.0 100 6. Clifford Chance LLP 70,440.6 66 7. Deloitte LLP 13,555.1 95 7. Freshfields Bruckhaus Deringer LLP 72,073.1 59 8. Goldman Sachs & Co. 227,248.8 92 8. Squire Patton Boggs (US) LLP 3,049.9 58 9. Morgan Stanley 172,728.8 71 9. Advokatfirman Vinge KB 9,224.5 57 10. Citigroup 102,933.2 63 10. Weil, Gotshal & Manges LLP 48,811.4 51 11. Lazard 33,593.7 50 10. White & Case LLP 12,713.7 51 12. GCA Corp. 534.9 49 10. Hogan Lovells 9,880.6 51 13. Benchmark International Co. 5.0 46 13. Addleshaw Goddard LLP 719.8 48 13. Clairfield International SA 300.2 46 14. Skadden, Arps, Slate, Meagher & Flom 42,846.9 46 13. Grant Thornton International Ltd. 533.0 46 14. Linklaters LLP 30,853.6 46 16. ALANTRA 2,671.2 45 14. Goodwin Procter LLP 17,686.9 46 16. Barclays Plc 51,888.8 45 17. Baker & McKenzie LLP 12,101.8 45 18. Houlihan Lokey, Inc. 12,405.4 42 18. Jones Day LP 14,031.4 42 19. Eight Advisory SAS 5,077.7 41 19. Dentons Rodyk & Davidson LLP 2,104.5 41 19. Jefferies LLC 25,572.2 41 20. Osborne Clarke LLP 3,142.0 40 21. BofA Securities, Inc. 72,054.9 40 21. Herbert Smith Freehills LLP 73,290.9 39 21. BNP Paribas SA 26,535.2 40 22. Willkie Farr & Gallagher LLP 5,990.3 37 23. Clearwater International 955.3 38 23. Sullivan & Cromwell LLP 94,537.6 35 24. William Blair & Co. 2,506.3 37 24. PricewaterhouseCoopers 4,077.6 33 24. Ebner Stolz Mönning Bachem 210.0 37 24. McDermott Will & Emery LLP 3,626.6 33 26. Credit Suisse 56,240.0 36 26. Ernst & Young Global Ltd. 4,551.8 31 27. Raymond James Financial, Inc. 5,052.0 34 26. Paul Hastings LLP 6,253.5 31 27. Rabobank 871.4 34 28. Heuking Kühn Lüer Wojtek 196.5 30 29. Daiwa / DC Advisory 4,253.3 33 29. Shearman & Sterling LLP 25,472.7 29 30. Lincoln International LLC 760.9 32 30. Uría Menéndez Abogados SLP 13,881.8 28 31. UBS Group AG 56,219.0 31 30. Gianni, Origoni, Grippo, Cappelli 23,449.5 28 31. Macquarie Group 5,891.3 31 30. Orrick, Herrington & Sutcliffe LLP 6,361.3 28 33. CFI 36.3 29 33. Cleary Gottlieb Steen & Hamilton 17,712.1 27 34. Evercore, Inc. 61,015.8 27 33. Gibson, Dunn & Crutcher LLP 16,717.6 27 35. Deutsche Bank AG 76,115.4 26 35. Mayer Brown LLP 11,959.2 26 36. Oaklins 485.0 24 36. Simpson Thacher & Bartlett LLP 33,013.6 25 36. finnCap Group Plc 729.2 24 36. Bird & Bird LLP 83.2 25 38. Moelis & Co. 20,159.1 22 36. Eversheds Sutherland 447.3 25 38. FTI Consulting, Inc. 1,187.1 22 39. Lamartine Conseil 109.5 24 38. Canaccord Genuity Group, Inc. 803.9 22 39. Hengeler Mueller Partnerschaft 32,918.8 24 38. Carnegie ASA 7,191.0 22 39. Houthoff Buruma Coöperatief UA 5,916.1 24 42. Cenkos Securities Plc 220.0 20 42. KPMG International Coop. 6,155.5 23 42. Baker Tilly International Ltd. 93.0 20 43. P+P Pöllath + Partners 228.0 22 44. Natixis SA 5,725.2 19 44. Sidley Austin LLP 17,918.4 21 44. Alvarez & Marsal, Inc. 1,837.8 19 44. Wilson Sonsini Goodrich & Rosati 13,315.7 21 44. Numis Corp. Plc 10,679.8 19 44. Simmons & Simmons LLP 3,912.8 21 47. Stifel/KBW 1,104.6 17 44. Stibbe NV 5,626.7 21 47. Robert W. Baird & Co. 5,248.7 17 44. Slaughter & May Ltd. 29,133.4 21 47. UniCredit SpA 2,741.6 17 44. Macfarlanes LLP 21,386.7 21 47. Arma Partners LLP 4,300.8 17 44. Lexence NV 48.3 21

* Transaction Value is the aggregate base equity plus the target’s net debt, where applicable. ** Total Deals includes deals that reported a deal value as well as those that did not.

If you would like to participate in our league table rankings or have questions about league table criteria, please contact [email protected].

UK: ANNOUNCED DEALS – RANKED BY TRANSACTION VALUE

Transaction Total Transaction Total Financial Advisor Value (£Mil)* Deals** Legal Advisor Value (£Mil)* Deals** 1. Goldman Sachs & Co. £71,490.6 46 1. Kirkland & Ellis LLP £25,279.5 53 2. JPMorgan Chase & Co 66,582.8 45 2. Skadden, Arps, Slate, Meagher & Flom 24,828.8 25 3. Morgan Stanley 38,368.8 27 3. Slaughter & May Ltd. 22,199.4 17 4. Barclays Plc 37,162.7 29 4. Freshfields Bruckhaus Deringer LLP 20,119.7 26 5. Rothschild & Co 25,585.9 73 5. Latham & Watkins LLP 18,831.6 56 6. BofA Securities, Inc. 23,333.1 18 6. Sullivan & Cromwell LLP 17,902.0 16 7. Deutsche Bank AG 20,437.5 10 7. Cravath, Swaine & Moore LLP 16,819.0 5 8. Evercore, Inc. 19,964.4 17 8. Allen & Overy LLP 15,831.5 49 9. Credit Suisse 19,486.2 13 9. Ropes & Gray LLP 15,605.2 8 10. PJT Partners, Inc. 18,886.6 7 10. Ashurst LLP 14,987.2 14 11. Citigroup 15,308.1 18 11. Simpson Thacher & Bartlett LLP 14,788.7 15 12. PricewaterhouseCoopers 13,566.8 83 12. Herbert Smith Freehills LLP 14,561.1 18 13. Jefferies LLC 12,817.9 24 13. Fried, Frank, Harris, Shriver & Jacobson 13,146.6 10 14. Robey Warshaw LLP 11,616.8 2 14. Davis Polk & Wardwell LLP 12,632.6 12 15. Lazard 10,073.0 23 15. Sidley Austin LLP 11,960.3 7 16. UBS Group AG 9,427.5 13 16. Linklaters LLP 10,594.9 14 17. Numis Corp. Plc 9,215.3 19 17. Macfarlanes LLP 10,313.0 18 18. Moelis & Co. 9,123.3 13 18. Goodwin Procter LLP 9,893.1 23 19. Centerview Partners LLC 7,858.5 9 19. CMS Cameron Mckenna Nabarro 8,705.6 62 20. Houlihan Lokey, Inc. 7,858.0 22 20. Wilson Sonsini Goodrich & Rosati 8,679.5 12 21. Nomura Securities Co., Ltd. 5,868.1 5 21. Weil, Gotshal & Manges LLP 7,726.3 22 22. Guggenheim Capital LLC 5,245.8 4 22. Clifford Chance LLP 7,348.9 24 23. Ernst & Young Global Ltd. 5,201.7 41 23. Cooley LLP 7,002.9 13 24. TripleTree LLC 4,947.0 3 24. Jones Day LP 6,797.6 13

25. Deloitte LLP 4,766.0 38 25. Covington & Burling LLP 6,001.9 4 26. Raymond James Financial, Inc. 4,084.5 21 26. Wachtell, Lipton, Rosen & Katz 5,918.1 5 27. RBC Capital Markets 3,979.2 10 27. Baker & McKenzie LLP 5,519.9 8 28. Qatalyst Group LP 3,865.5 1 28. Arthur Cox & Co. 5,440.0 2 29. Piper Sandler Cos. 3,680.4 5 29. AZB & Partners 4,712.8 7 30. Condor Trading LP 3,604.0 1 30. Morrison & Foerster LLP 4,488.9 5 31. STJ Advisors Group Ltd. 3,593.5 1 31. Winston & Strawn LLP 4,068.1 2 32. HSBC Holdings Plc 3,544.6 9 32. Debevoise & Plimpton LLP 4,028.8 6 33. Oakvale Capital LLP 3,508.0 2 33. Nagashima Ohno & Tsunematsu 3,865.5 1 34. Macquarie Group 3,372.0 18 34. Hogan Lovells 3,839.1 9 35. Robert W. Baird & Co. 3,290.2 10 35. Carey Olsen LLP 3,834.4 3 36. Peel Hunt LLP 3,114.9 13 36. Blake, Cassels & Graydon LLP 3,671.8 5 37. Bank of Montreal 3,001.0 1 37. White & Case LLP 3,671.6 19 38. Wells Fargo & Co. 2,924.1 2 38. Herzog, Fox, & Neeman Law Office 3,574.6 2 39. Ardea Partners LP 2,700.4 1 39. Paul Hastings LLP 3,473.7 12 40. KPMG International Coop. 2,194.2 63 40. Lenz & Staehelin AG 3,398.1 1 41. Perella Weinberg Partners 2,169.4 4 41. Marcus, Brody, Ford, Kessler & Sahner 3,364.2 1 42. Arma Partners LLP 2,094.9 8 41. Blank Rome LLP 3,364.2 1 43. Mitsubishi UFJ Morgan Stanley 2,025.9 1 41. Wiggin LLP 3,364.2 1 44. Duff & Phelps LLC 1,694.0 4 44. Cyril Amarchand Mangaldas 3,346.2 2 45. William Blair & Co. 1,607.1 17 45. Gibson, Dunn & Crutcher LLP 3,267.2 8 46. Danske Bank A/S 1,535.7 6 46. Dechert LLP 3,174.4 7 47. Natixis SA 1,496.4 8 47. Shearman & Sterling LLP 2,982.3 11 48. Broadhaven Capital Partners LLC 1,494.6 1 48. Roschier Asianajotoimisto Oy 2,865.4 3 49. Cowen, Inc. 1,313.9 2 49. Ernst & Young Global Ltd. 2,703.4 7 50. Berenson & Co, Inc. 1,214.1 2 50. Dickson Minto W.S. 2,634.3 3

* Transaction Value is the aggregate base equity plus the target’s net debt, where applicable. ** Total Deals includes deals that reported a deal value as well as those that did not.

If you would like to participate in our league table rankings or have questions about league table criteria, please contact [email protected].

UK: ANNOUNCED DEALS – RANKED BY NUMBER OF DEALS

Transaction Total Transaction Total Financial Advisor Value (£Mil)* Deals** Legal Advisor Value (£Mil)* Deals** 1. BDO LLP £296.6 127 1. CMS Cameron Mckenna Nabarro £8,705.6 62 2. PricewaterhouseCoopers 13,566.8 83 2. Latham & Watkins LLP 18,831.6 56 3. Rothschild & Co 25,585.9 73 3. Kirkland & Ellis LLP 25,279.5 53 4. KPMG International Coop. 2,194.2 63 4. Squire Patton Boggs (US) LLP 2,369.9 50 5. Goldman Sachs & Co. 71,490.6 46 5. Allen & Overy LLP 15,831.5 49 6. JPMorgan Chase & Co 66,582.8 45 6. Addleshaw Goddard LLP 623.1 48 7. Benchmark International Co. 4.2 43 7. DLA Piper Group 1,975.9 28 8. Ernst & Young Global Ltd. 5,201.7 41 8. Freshfields Bruckhaus Deringer LLP 20,119.7 26 9. Deloitte LLP 4,766.0 38 9. Skadden, Arps, Slate, Meagher & Flom 24,828.8 25 10. Grant Thornton International Ltd. 134.8 33 9. Osborne Clarke LLP 1,899.3 25 11. ALANTRA 776.6 30 11. Clifford Chance LLP 7,348.9 24 12. Barclays Plc 37,162.7 29 12. Goodwin Procter LLP 9,893.1 23 13. Morgan Stanley 38,368.8 27 13. Weil, Gotshal & Manges LLP 7,726.3 22 14. Jefferies LLC 12,817.9 24 14. Stephenson Harwood LLP 64.2 19 14. finnCap Group Plc 627.8 24 14. White & Case LLP 3,671.6 19 16. Lazard 10,073.0 23 16. Herbert Smith Freehills LLP 14,561.1 18 17. Houlihan Lokey, Inc. 7,858.0 22 16. Macfarlanes LLP 10,313.0 18 18. Raymond James Financial, Inc. 4,084.5 21 18. Walker Morris LLP 455.6 17 19. GCA Corp. 288.2 20 18. Travers Smith LLP 1,406.1 17 19. Cenkos Securities Plc 190.2 20 18. Willkie Farr & Gallagher LLP 2,376.1 17 19. FTI Consulting, Inc. 305.0 20 18. Slaughter & May Ltd. 22,199.4 17 22. Numis Corp. Plc 9,215.3 19 22. Shoosmiths LLP 529.4 16 22. Clearwater International 172.0 19 22. Gowling WLG International Ltd. 217.9 16 24. Citigroup 15,308.1 18 22. Gorna & Co. 250.4 16

24. BofA Securities, Inc. 23,333.1 18 22. Sullivan & Cromwell LLP 17,902.0 16 24. Macquarie Group 3,372.0 18 26. Browne Jacobson LLP 4.0 15 27. Evercore, Inc. 19,964.4 17 26. Dentons Rodyk & Davidson LLP 264.8 15 27. William Blair & Co. 1,607.1 17 26. Simpson Thacher & Bartlett LLP 14,788.7 15 27. Daiwa / DC Advisory 616.1 17 29. Ashurst LLP 14,987.2 14 30. Canaccord Genuity Group, Inc. 628.2 15 29. Linklaters LLP 10,594.9 14 30. Baker Tilly International Ltd. 69.5 15 31. Cooley LLP 7,002.9 13 32. Credit Suisse 19,486.2 13 31. Jones Day LP 6,797.6 13 32. UBS Group AG 9,427.5 13 33. Davis Polk & Wardwell LLP 12,632.6 12 32. Peel Hunt LLP 3,114.9 13 33. Wilson Sonsini Goodrich & Rosati 8,679.5 12 32. Moelis & Co. 9,123.3 13 33. Paul Hastings LLP 3,473.7 12 36. Robert W. Baird & Co. 3,290.2 10 33. Freeths LLP 100.0 12 36. RBC Capital Markets 3,979.2 10 37. Womble Bond Dickinson (UK) LLP 850.0 11 36. Deutsche Bank AG 20,437.5 10 37. Shearman & Sterling LLP 2,982.3 11 36. CFI - 10 37. McDermott Will & Emery LLP - 11 40. Lincoln International LLC 150.2 9 37. Harry Elias Partnership LLP 234.1 11 40. Allenby Capital Ltd. 83.0 9 41. Mayer Brown LLP 2,372.8 10 40. FRP Advisory LLP 42.0 9 41. Clarion Solicitors Ltd. 67.8 10 40. HSBC Holdings Plc 3,544.6 9 41. Norton Rose Fulbright LLP 1,635.0 10 40. Stifel/KBW 289.2 9 41. Fried, Frank, Harris, Shriver & Jacobson 13,146.6 10 40. Investec Plc 343.7 9 45. Gateley LLP 28.5 9 40. Centerview Partners LLC 7,858.5 9 45. Eversheds Sutherland 377.7 9 47. Arma Partners LLP 2,094.9 8 45. Hogan Lovells 3,839.1 9 47. Shore Capital Markets Ltd. 545.6 8 48. Taylor Wessing LLP 700.0 8 47. Liberum Capital Ltd 15.5 8 48. Ropes & Gray LLP 15,605.2 8 47. Natixis SA 1,496.4 8 48. Baker & McKenzie LLP 5,519.9 8

* Transaction Value is the aggregate base equity plus the target’s net debt, where applicable. ** Total Deals includes deals that reported a deal value as well as those that did not.

If you would like to participate in our league table rankings or have questions about league table criteria, please contact [email protected].

ASIA EX-JAPAN: ANNOUNCED DEALS – RANKED BY TRANSACTION VALUE

Transaction Total Transaction Total Financial Advisor Value ($Mil) * Deals** Legal Advisor Value ($Mil) * Deals** 1. Morgan Stanley $139,800.5 36 1. Skadden, Arps, Slate, Meagher & Flom $65,768.0 11 2. JPMorgan Chase & Co 112,005.6 30 2. Sullivan & Cromwell LLP 59,396.2 10 3. Goldman Sachs & Co. 73,935.4 29 3. Ropes & Gray LLP 52,402.2 7 4. UBS Group AG 67,939.6 15 4. Cooley LLP 49,169.5 8 5. BofA Securities, Inc. 58,817.2 27 5. Wilmer Cutler Pickering Hale & Dorr 47,792.7 1 6. Evercore, Inc. 54,141.8 4 5. Hughes Hubbard & Reed LLP 47,792.7 1 7. Barclays Plc 41,993.1 9 7. Simpson Thacher & Bartlett LLP 42,816.8 12 8. Credit Suisse 34,662.9 19 8. Wachtell, Lipton, Rosen & Katz 36,935.3 4 9. Citigroup 32,590.4 25 9. Dechert LLP 35,886.6 6 10. Centerview Partners LLC 31,700.0 4 10. Allens 28,618.4 11 11. BDT & Co. LLC 30,000.0 1 11. Latham & Watkins LLP 26,934.9 23 12. Discover Management Co. Ltd. 13,350.0 1 12. Linklaters LLP 25,299.3 6 13. CITIC Securities Co., Ltd. 9,676.0 19 13. AZB & Partners 21,194.6 33 14. HSBC Holdings Plc 9,457.2 9 14. Herbert Smith Freehills LLP 19,329.0 47 15. Rothschild & Co 8,801.7 16 15. King & Wood Mallesons Ltd. 19,214.8 26 16. Macquarie Group 8,539.9 27 16. Cyril Amarchand Mangaldas 17,048.5 21 17. Scotiabank 8,078.1 4 17. Freshfields Bruckhaus Deringer LLP 16,459.2 6 18. KPMG International Coop. 7,413.6 36 18. Cleary Gottlieb Steen & Hamilton LLP 15,722.0 4 19. ARC Group Ltd. 7,354.6 1 19. Allen & Overy LLP 14,692.3 16 20. Deutsche Bank AG 7,325.0 4 20. Khaitan & Co. LLP 13,407.4 33 21. Barrenjoey Capital Partners Group Pty Ltd. 6,971.3 1 21. Weil, Gotshal & Manges LLP 12,892.3 10 22. The Toronto-Dominion Bank 6,755.0 5 22. Ashurst LLP 11,797.1 15 23. Lazard 6,721.9 9 23. Gilbert + Tobin 11,135.7 21 24. Flagstaff Partners Pty Ltd. 6,640.5 1 24. Davis Polk & Wardwell LLP 10,677.2 6

25. Deloitte LLP 6,497.0 22 25. Kirkland & Ellis LLP 10,453.7 17 26. PricewaterhouseCoopers 6,268.0 47 26. Uría Menéndez Abogados SLP 10,169.7 2 27. BNP Paribas SA 6,236.2 4 27. Ellenoff Grossman & Schole LLP 10,049.2 4 28. Raymond James Financial, Inc. 6,225.3 3 28. Clifford Chance LLP 9,760.3 11 29. Jefferies LLC 6,133.5 13 29. Debevoise & Plimpton LLP 7,967.4 6 30. Malayan Banking Bhd. 5,791.2 5 30. Ogier Group LP 7,941.3 3 31. Condor Trading LP 5,645.2 3 31. Nishith Desai Associates Pvt Ltd 7,378.7 1 32. Ernst & Young Global Ltd. 5,454.7 17 32. Loeb & Loeb LLP 7,354.6 1 33. Moelis & Co. 5,428.0 10 33. Clayton Utz 7,101.6 10 34. Somerley Capital Holdings Ltd. 4,631.2 9 34. Goodwin Procter LLP 6,628.5 8 35. Anglo Chinese Corporate Finance Ltd. 4,379.9 3 35. Mayer Brown LLP 6,628.4 7 36. Huatai Securities Co., Ltd. 4,240.3 18 36. Kim & Chang 6,406.6 6 37. RBC Capital Markets 4,219.5 4 37. Goodmans LLP 6,262.7 3 38. Société Générale SA 4,200.0 1 38. Sidley Austin LLP 6,059.7 6 38. Sinolink Securities Co., Ltd. 4,200.0 1 39. Hogan Lovells 5,823.5 8 38. Banco Santander SA 4,200.0 1 40. Zhong Lun Law Firm 5,637.0 10 38. Crédit Agricole 4,200.0 1 41. Norton Rose Fulbright LLP 5,293.0 7 42. Gresham Partners Ltd. 2,963.3 8 42. Fried, Frank, Harris, Shriver & Jacobson 4,995.7 1 43. Gram Capital Ltd. 2,930.1 12 43. Wilson Sonsini Goodrich & Rosati 4,843.3 10 44. Intesa Sanpaolo SpA 2,894.5 1 44. CMS Cameron Mckenna Nabarro 4,803.2 11 44. UniCredit SpA 2,894.5 1 45. DLA Piper Group 4,537.2 18 46. Pitt Capital Partners 2,781.2 1 46. Blake, Cassels & Graydon LLP 4,497.3 2 46. Greenhill & Co., Inc. 2,781.2 1 47. White & Case LLP 4,379.7 14 48. Duff & Phelps LLC 2,580.5 5 48. Morrison & Foerster LLP 4,353.2 4 49. First Capital Securities Co 2,565.5 1 49. Shearman & Sterling LLP 4,326.7 4 50. Calibre Partners Ltd. 2,386.0 1 50. Jones Day LP 4,309.4 15

* Transaction Value is the aggregate base equity plus the target’s net debt, where applicable. ** Total Deals includes deals that reported a deal value as well as those that did not.

If you would like to participate in our league table rankings or have questions about league table criteria, please contact [email protected].

ASIA EX-JAPAN: ANNOUNCED DEALS – RANKED BY NUMBER OF DEALS

Transaction Total Transaction Total Financial Advisor Value ($Mil) * Deals** Legal Advisor Value ($Mil) * Deals** 1. PricewaterhouseCoopers $6,268.0 47 1. Herbert Smith Freehills LLP $19,329.0 47 2. Morgan Stanley 139,800.5 36 2. AZB & Partners 21,194.6 33 2. KPMG International Coop. 7,413.6 36 2. Khaitan & Co. LLP 13,407.4 33 4. JPMorgan Chase & Co 112,005.6 30 4. King & Wood Mallesons Ltd. 19,214.8 26 5. Goldman Sachs & Co. 73,935.4 29 5. Latham & Watkins LLP 26,934.9 23 6. BofA Securities, Inc. 58,817.2 27 6. Gilbert + Tobin 11,135.7 21 6. Macquarie Group 8,539.9 27 6. Cyril Amarchand Mangaldas 17,048.5 21 8. Citigroup 32,590.4 25 8. Squire Patton Boggs (US) LLP 3,417.5 19 9. Deloitte LLP 6,497.0 22 9. DLA Piper Group 4,537.2 18 10. Credit Suisse 34,662.9 19 10. Kirkland & Ellis LLP 10,453.7 17 10. CITIC Securities Co., Ltd. 9,676.0 19 11. Allen & Overy LLP 14,692.3 16 12. Huatai Securities Co., Ltd. 4,240.3 18 12. Ashurst LLP 11,797.1 15 13. Ernst & Young Global Ltd. 5,454.7 17 12. Shardul Amarchand Mangaldas & Co. 2,212.8 15 14. Rothschild & Co 8,801.7 16 12. Baker & McKenzie LLP 3,128.6 15 15. UBS Group AG 67,939.6 15 12. Jones Day LP 4,309.4 15 16. BDO LLP 1,237.9 13 16. White & Case LLP 4,379.7 14 16. Jefferies LLC 6,133.5 13 16. J. Sagar Associates 2,283.8 14 18. Gram Capital Ltd. 2,930.1 12 18. Morgan, Lewis & Bockius LLP 994.4 13 19. Moelis & Co. 5,428.0 10 19. Simpson Thacher & Bartlett LLP 42,816.8 12 20. Somerley Capital Holdings Ltd. 4,631.2 9 20. CMS Cameron Mckenna Nabarro 4,803.2 11 20. HSBC Holdings Plc 9,457.2 9 20. Skadden, Arps, Slate, Meagher & Flom 65,768.0 11 20. Red Sun Capital Ltd. 1,845.1 9 20. Clifford Chance LLP 9,760.3 11 20. Barclays Plc 41,993.1 9 20. Thomson Geer Services Pty Ltd. 825.5 11 20. Lazard 6,721.9 9 20. Allens 28,618.4 11 25. Gresham Partners Ltd. 2,963.3 8 25. Weil, Gotshal & Manges LLP 12,892.3 10 25. UOB-Kay Hian Holdings Ltd. 137.7 8 25. Clayton Utz 7,101.6 10 25. William Blair & Co. - 8 25. Zhong Lun Law Firm 5,637.0 10 28. China International Capital Corp. Ltd. 1,903.8 7 25. Sullivan & Cromwell LLP 59,396.2 10 28. Guotai Junan Securities Co., Ltd. 1,037.0 7 25. Wilson Sonsini Goodrich & Rosati 4,843.3 10 30. Nomura Securities Co., Ltd. 842.8 6 30. Paul Hastings LLP 4,132.4 8 30. CSC Financial Co., Ltd. 547.4 6 30. Cooley LLP 49,169.5 8 30. GCA Corp. 246.0 6 30. Hogan Lovells 5,823.5 8 30. TA Enterprise Bhd. 27.2 6 30. Goodwin Procter LLP 6,628.5 8 34. The Toronto-Dominion Bank 6,755.0 5 34. Mayer Brown LLP 6,628.4 7 34. Duff & Phelps LLC 2,580.5 5 34. Maddocks 767.5 7 34. Rainbow Capital (HK) Ltd. 460.8 5 34. Ropes & Gray LLP 52,402.2 7 34. AMMB Holdings Bhd. 458.5 5 34. Norton Rose Fulbright LLP 5,293.0 7 34. RHB Bank Bhd. 440.1 5 34. TriLegal Partners 825.7 7 34. China Investment Corp. 578.9 5 34. Arnold Bloch Leibler 1,788.6 7 34. Lincoln International LLC - 5 40. Debevoise & Plimpton LLP 7,967.4 6 34. Malayan Banking Bhd. 5,791.2 5 40. Paul, Weiss, Rifkind, Wharton & Garrison 3,425.7 6 34. M&A Securities Sdn. Bhd. 31.6 5 40. IndusLaw Advocates 50.2 6 43. Clairfield International SA 51.7 4 40. Minterellison 623.8 6 43. Centerview Partners LLC 31,700.0 4 40. Freshfields Bruckhaus Deringer LLP 16,459.2 6 43. ALANTRA 176.2 4 40. Dechert LLP 35,886.6 6 43. Octal Capital Ltd. 293.1 4 40. Sidley Austin LLP 6,059.7 6 43. W Capital Markets Pte Ltd. 347.3 4 40. Davis Polk & Wardwell LLP 10,677.2 6 43. Altus Capital Ltd. 57.2 4 40. DSK Legal 48.0 6 43. Kotak Mahindra Bank Ltd. 718.9 4 40. Kim & Chang 6,406.6 6 43. Evercore, Inc. 54,141.8 4 40. Linklaters LLP 25,299.3 6

* Transaction Value is the aggregate base equity plus the target’s net debt, where applicable. ** Total Deals includes deals that reported a deal value as well as those that did not.

If you would like to participate in our league table rankings or have questions about league table criteria, please contact [email protected].

JAPAN: ANNOUNCED DEALS – RANKED BY TRANS ACTION VALUE

Transaction Total Transaction Total

Financial Advisor Value (¥Mil)* Deals** Legal Advisor Value (¥Mil)* Deals** 1. Goldman Sachs & Co. ¥3,045,550.9 5 1. Morrison & Foerster LLP ¥1,910,620.4 4 2. Credit Suisse 2,809,005.8 6 2. Skadden, Arps, Slate, Meagher & Flom 1,564,985.6 6 3. JPMorgan Chase & Co 2,648,937.9 8 3. Nishimura & Asahi 1,215,999.8 24 4. BofA Securities, Inc. 1,367,264.5 6 4. Shearman & Sterling LLP 1,072,159.4 2 5. Barclays Plc 1,363,188.9 4 5. AZB & Partners 1,058,928.0 1 6. Citigroup 1,245,845.8 3 5. Kirkland & Ellis LLP 1,058,928.0 1 7. Nomura Securities Co., Ltd. 989,726.5 14 7. Simpson Thacher & Bartlett LLP 1,043,773.1 5 8. Allen & Co., Inc. 823,278.0 1 8. Nagashima Ohno & Tsunematsu 889,059.6 6 8. Connaught (UK) Ltd. 823,278.0 1 9. Goodwin Procter LLP 848,483.7 2 10. Jefferies LLC 766,800.0 3 10. Wachtell, Lipton, Rosen & Katz 823,278.0 1 11. Morgan Stanley 728,587.4 8 11. Khaitan & Co. LLP 770,921.1 4 12. UBS Group AG 696,209.9 2 12. Fried, Frank, Harris, Shriver 766,800.0 1 12. PJT Partners, Inc. 696,209.9 1 13. Cooley LLP 696,209.9 3 14. Qatalyst Group LP 559,548.1 1 14. Linklaters LLP 610,841.5 3 15. Sumitomo Mitsui Financial Group 516,186.4 13 15. Covington & Burling LLP 559,548.1 1 16. Mitsubishi UFJ Morgan Stanley 500,509.2 6 16. Clifford Chance LLP 400,755.2 2 17. Mizuho Financial Group, Inc. 291,460.5 21 17. Mori Hamada & Matsumoto 396,635.6 10 18. Daiwa / DC Advisory 223,985.5 19 18. Cyril Amarchand Mangaldas 381,132.5 1 19. PricewaterhouseCoopers 166,372.7 8 19. PricewaterhouseCoopers 353,474.5 2 20. Trustees Advisory KK 150,704.7 2 20. Ushijima & Partners 322,929.2 1

JAPAN: ANNOUNCED DEALS – RANKED BY NUFMBER OF DEALS

Transaction Total Transaction Total Financial Advisor Value (¥Mil)* Deals** Legal Advisor Value (¥Mil)* Deals** 1. Mizuho Financial Group, Inc. ¥291,460.5 21 1. Nishimura & Asahi ¥1,215,999.8 24 2. GCA Corp. 144,607.1 20 2. Anderson Mori & Tomotsune 248,421.5 10 3. Daiwa / DC Advisory 223,985.5 19 2. Mori Hamada & Matsumoto 396,635.6 10 4. Nomura Securities Co., Ltd. 989,726.5 14 4. Herbert Smith Freehills LLP 276,541.0 9 5. Sumitomo Mitsui Financial Group 516,186.4 13 5. TMI Associates 179,701.6 8 6. Deloitte LLP 43,636.5 10 6. Nagashima Ohno & Tsunematsu 889,059.6 6 6. Plutus Consulting Co. Ltd. 92,098.9 10 6. Skadden, Arps, Slate, Meagher & Flom 1,564,985.6 6 8. Morgan Stanley 728,587.4 8 8. Simpson Thacher & Bartlett LLP 1,043,773.1 5 8. PricewaterhouseCoopers 166,372.7 8 8. Kitahama Partners 40,705.5 5

8. KPMG International Coop. 114,674.7 8 10. Khaitan & Co. LLP 770,921.1 4 8. JPMorgan Chase & Co 2,648,937.9 8 10. Jones Day LP 71,798.3 4 12. Frontier Management, Inc. 6,916.0 7 10. Squire Patton Boggs (US) LLP 653.6 4 13. Credit Suisse 2,809,005.8 6 10. Ashurst LLP 7,251.0 4 13. BofA Securities, Inc. 1,367,264.5 6 10. Morrison & Foerster LLP 1,910,620.4 4 13. Mitsubishi UFJ Morgan Stanley 500,509.2 6 10. Nakamura Tsunoda & Matsumoto 26,942.2 4 16. Goldman Sachs & Co. 3,045,550.9 5 16. Alston & Bird LLP 6,295.5 3 16. YAMADA Consulting Group Co., Ltd. 67,224.8 5 16. White & Case LLP 265,513.9 3 18. Tokyo Financial Advisors KK 15,421.0 4 16. CMS Cameron Mckenna Nabarro 51,293.4 3 18. Barclays Plc 1,363,188.9 4 16. Pillsbury Winthrop Shaw Pittman 46,133.0 3 20. Macquarie Group 58,544.4 3 16. Wilson Sonsini Goodrich & Rosati 59,446.8 3

* Transaction Value is the aggregate base equity plus the target’s net debt, where applicable. ** Total Deals includes deals that reported a deal value as well as those that did not.

If you would like to participate in our league table rankings or have questions about league table criteria, please contact [email protected].

COMPANY DEFENSE – TOP BANKS & LAW FIRMS

Total Total

Rank Financial Advisor Campaigns** Rank Legal Advisor Campaigns** 1. Goldman Sachs & Co. 11 1. Sidley Austin LLP 20 2. Morgan Stanley 9 2. Vinson & Elkins LLP 17 3. Spotlight Advisors LLC 7 3. Wachtell, Lipton, Rosen & Katz 9 4. Evercore, Inc. 5 4. Skadden, Arps, Slate, Meagher & Flom 7 5. BofA Securities, Inc. 4 5. Wilson Sonsini Goodrich & Rosati 6

6. Credit Suisse 2 6. Latham & Watkins LLP 5 6. JPMorgan Chase & Co 2 7. Simpson Thacher & Bartlett LLP 4 8. Centerview Partners LLC 1 8. Cadwalader, Wickersham & Taft LLP 3 8. Deutsche Bank AG 1 8. Willkie Farr & Gallagher LLP 3 8. Moelis & Co. 1 10. Cooley LLP 2 8. Raymond James Financial, Inc. 1 *19 other Firms tied with 1 campaign 8. Stifel/KBW 1

TOP LAW FIRMS TO ACTIVISTS Total Rank Legal Advisor Campaigns** 1. Olshan Frome Wolosky LLP 31 2. Schulte Roth & Zabel LLP 10 3. Cadwalader, Wickersham & Taft LLP 5 4. Akin, Gump, Strauss, Hauer & Feld LLP 4 5. Thompson Hine LLP 3 6. Fried, Frank, Harris, Shriver & Jacobson 2 6. Kleinberg, Kaplan, Wolff & Cohen PC 2 6. Latham & Watkins LLP 2 6. Winstead PC 2 *29 other Firms tied with 1 campaign

** Based on activism announce date. US targeted companies only

If you would like to participate in our activism league table, please contact [email protected] or:

Michael Coronato E-Mail: [email protected]