Put Numbers in Context

17th SECA Conference

Patrick Förg Head Origination, Primary Markets SIX, Securities and Exchanges 4 July 2018 Successful IPOs and Capital Raisings in 2017 Confirm the Deep Pools of Capital Available in Switzerland

Equity capital Strong pool of IPO proceeds raised capital

CHF CHF CHF ~4.5 bn ~9.0 bn ~13.5 bn #61) #113

With CHF 4.5 bn of IPO proceeds, SIX Swiss Exchange ranked 3rd in Europe (behind London Main/AIM and Nasdaq OMX2)

1) Two out of the 6 IPOs were technical listings 2) Copenhagen, Helsinki, Iceland, Sweden, First North 2

Highlights From the European IPO Market 2018 vs. Q2 2018 Q2 vs. 2018 Change on Change on prior YTD 2018 prior year Q2 2018 year quarter 119 73 12% 21% IPOs IPOs USD 23.8 bn USD 9.6bn 48% Proceeds 5% Proceeds

11% 48% 7% 70% of IPOs are financial sponsor-backed of IPOs are financial sponsor-backed

Q2 2018 Highlights

Stock Exchanges IPOs Sectors by highest total proceeds largest by proceeds by highest number of IPOs

LSE Group Adyen BV Technology USD 2.7bn | 13 IPOs USD 1.1bn | Technology, Euronext 24 IPOs | USD 3.8bn

NASDAQ OMX CEVA Logistics AG Consumer products USD 2.0bn | 21 IPOs USD 824mn | Industrials, SIX 10 IPOs |USD 0.4bn

Euronext & Alternext Vivo Energy plc Industrials USD 1.4bn | 9 IPOs USD 819mn | Energy, LSE 7 IPOs | USD 1.6bn Source: EY Global IPO Trends Q2 2018 3 Low Volatility Paves the Way for IPOs

SIX IPOs (compared to volatility) EURO STOXX 50 Volatility Index SPI

40 12'000 8 Sensirion (Mar-18) 2 Galenica (Apr-17) 10'000 5 Landis+Gyr (Jul-17) 9 Medartis (Mar-18) 30 3 Idorsia (Jun-17) 6 Poenina (Nov-17) 11 Polyphor (May-18) 8'000 13 Lalique (Jun-18)

20 6'000

4'000

10 10 CEVA Logistics (May-18) 2'000 1 Rapid Nutrition (Mar-17) 7 ASMALLWORLD (Mar-18) 4 Zur Rose Group (Jul-17) 12 Klingelnberg (Jun-18)

0 0 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18

Source: STOXX and SIX; Jun-18 4 SIX Swiss Exchange is Superior in Size Compared to the Swiss Economy

Free Float Market Capitalization, in EURbn 3'500

3'000

Milan 2'500 Lisbon Brussels 2'000

Amsterdam 1'500 London 1'000 Helsinki Paris Frankfurt 500 Zürich Copenhagen

Stockholm Madrid - LSE Group Euronext Deutsche Börse Nasdaq OMX BME

Source: STOXX All Europe TMI and SIX Swiss Exchange; May-18 5 How Much Money is There in the World? (in CHF trillions)

US Equity ~ 170 + 12 + 170zeros Markets AuM ~28* Global PE Industry Swiss ~ 7 (incl. dry Equity powder)

Market

1.4* AuM European PE Firms 0.75

Source: Visual Capitalist; Invest Europe (2017 European PE Activity); The Money Project; SIX * Free Float Market Capitalizations 6 How Much Was Raised in 2017? (in CHF billions)

DACH PE Firms PE Firms SwissDACH regionCapital Swiss ~ 9** ~ 9* Equity Market Markets ~ 94* 1.4*

Source: Invest Europe (2017 European PE Activity); SIX * Of which proceeds from IPO CHF 4.5 bn; Proceeds from capital increases CHF 9 bn and from bond issuances CHF 80 bn ** Funds raised by European PE firms: CHF 108 bn 7 How Much Was Divested in 2017? (in CHF billions)

Swiss Equity Market PE Firms 2/3 of all DACH region EuropeanSwiss ~ 75 ~ 9* delistings are PE EquityFirms M&A related Markets ~ 50 1.4* DACH PE Firms ~ 7

Source: Invest Europe (2017 European PE Activity) and SIX

8 Conclusions and Outlook

IPO markets have proved resilient despite increased volatility and a price correction

SIX welcomed 7 new companies 2018 YtD

Small, mid and large size transactions from all kind of industries

1 IPO “ceded” 24 hours before and 1 IPO “postponed”

The outlook remains positive but “challenges” have increased - good equity story is key

9 The Primary Markets Team

Valeria Ceccarelli

Head Primary Markets [email protected] +41 58 399 2180

Patrick Förg Andrea von Bartenwerffer

Head Origination Head Issuer Relations [email protected] [email protected] +41 58 399 21 53 +41 58 399 2941

Christian Fehr Christian Geiger

Relationship Manager Relationship Manager [email protected] [email protected] +41 58 399 3743 +41 58 399 3127

Sekar Istianingrum

Analyst [email protected] +41 58 399 3826

10 Disclaimer

None of the information contained herein constitutes an offer to buy or sell or take any other action regarding financial instruments. SIX Swiss Exchange AG is liable neither for the completeness, accuracy, currentness and continuous availability of the information given, nor for any loss incurred as a result of action taken on the basis of information provided in this or any other SIX publication. SIX Swiss Exchange AG expressly reserves the right to alter prices or composition of products or services at any time. There may be restrictions on the sale of products traded at SIX Swiss Exchange AG in the case of certain countries and individuals. It is the responsibility of each investor to observe the issuer's terms and conditions. The information contained in this document does not constitute legal or tax advice.

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