HONG KONG CAPITAL MARKETS LEAGUE TABLES FY 2018 FY 2018

MANAGER RANKINGS HONG KONG CAPITAL MARKETS

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DATA SUBMISSIONS AND QUERIES

Contact Phone Email Equities Zhen Hao Toh +65 6499 2931 [email protected]

Fixed Income Jennifer Passos +65 6231 9677 [email protected]

Loans Dave Lin +852 2974 3196 [email protected]

© 2018 Bloomberg Finance L.P. All rights reserved. Bloomberg Hong Kong Capital Markets | FY 2018

Hong Kong Dollar Bonds: Industry Breakdown

Hong Kong Dollar Bonds 4%

FY 2018 FY 2017 26% Mkt Volume (HKD Deal Prev Prev Mkt Mkt Share Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) HSBC 1 22.560 67,716 156 1 22.972 -0.412 71% Bank of Communications 2 14.450 43,375 31 24 0.816 13.634 Standard Chartered Bank 3 12.039 36,137 81 2 13.858 -1.819 Mizuho Financial 4 7.399 22,208 52 6 4.538 2.861 Credit Agricole CIB 5 6.784 20,365 58 4 5.626 1.158 Financials 71% Citi 6 5.618 16,864 46 3 8.692 -3.074 Government 26% Scotiabank 7 4.676 14,037 46 9 3.085 1.591 Others 4% Bank of China 8 3.686 11,064 19 8 3.696 -0.010 Societe Generale 9 3.481 10,450 24 11 2.448 1.033 UBS 10 2.445 7,340 12 28 0.444 2.001 Hong Kong Dollar Bonds: Manager Rankings History ANZ Banking Group 11 1.885 5,657 17 14 1.828 0.057 Industrial & Comm Bank of 12 1.882 5,650 3 18 1.277 0.605 2018 2017 2016 25 China Commonwealth Bank Australia 13 1.530 4,594 16 5 5.083 -3.553 20 ) % ( JP Morgan 14 1.487 4,462 8 23 0.865 0.622 e

r 15 a h S

BNP Paribas 15 1.438 4,317 19 25 0.717 0.721 t e

k 10 r DBS Group 16 1.032 3,097 7 13 2.046 -1.014 a M

Daiwa Securities 17 0.988 2,965 8 21 0.986 0.002 5 Nomura 18 0.873 2,621 14 10 2.914 -2.041 0 s k l ti C n n ia IB i Barclays 19 0.872 2,617 12 16 1.349 -0.477 B o a c C C S ti n H a B a le c d n o i re i c n e F ri Luso International Banking Ltd 20 0.656 1,970 5 - - 0.656 u rt o g m a h A m h u it o C iz d C e f rd M r TOTAL 100% 300,165 636 100% o a C k d n n a ta B S

This table consists of debt & preferred securities denominated in Hong Kong Dollars. This excludes asset-backed securities and convertible securities. There is a minimum threshold of 12 months for maturities, call or put periods and HKD 350MM minimum amount for self-led securities. Please see League Table Standards and Guidelines for further details.

Bloomberg League Table Reports Page 1 Bloomberg Hong Kong Capital Markets | FY 2018

Offshore CNY Bonds: Industry Breakdown

Offshore CNY Bonds 6%

FY 2018 FY 2017 21% Firm Rank Mkt Share(%) Volume (CNY Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) HSBC 1 23.282 29,698 89 1 28.234 -4.952 Standard Chartered Bank 2 19.492 24,864 63 3 12.789 6.703 73% Credit Agricole CIB 3 13.432 17,134 74 2 15.389 -1.957 BNP Paribas 4 3.393 4,329 16 5 4.234 -0.841 ANZ Banking Group 5 3.280 4,184 12 31 0.251 3.029 DBS Group 6 3.136 4,000 11 9 2.934 0.202 Financials 73% Scotiabank 7 2.889 3,685 15 8 3.028 -0.139 Government 21% Bank of China 8 2.863 3,652 13 12 1.702 1.161 Others 6% Societe Generale 9 2.861 3,650 6 13 1.445 1.416 Citi 10 2.310 2,947 9 18 1.005 1.305 Mizuho Financial 11 2.038 2,600 14 6 3.720 -1.682 Offshore CNY Bonds: Manager Rankings History JP Morgan 12 1.943 2,479 11 10 2.328 -0.385 2018 2017 2016 KGI Securities 13 1.629 2,078 4 27 0.377 1.252 30 Ping An Insurance Group 14 1.490 1,900 1 - - 1.490 Goldman Sachs 15 1.313 1,675 3 24 0.440 0.873 )

% 20 (

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Deutsche Bank 16 1.047 1,335 6 15 1.297 -0.250 r a h S

TD Securities 17 0.931 1,187 7 21 0.754 0.177 t e k r a 10 Nomura 18 0.893 1,139 6 4 5.315 -4.422 M NatWest Markets 19 0.811 1,035 4 - - 0.811

Barclays 20 0.745 950 3 7 3.587 -2.842 0 k s p p C n IB a u u B a C b o o TOTAL 100% 127,559 358 100% S B ri r r H le a G G d o P g re c n S e ri P i B rt g N k D a A n h t B a C i B d Z rd re a C N d A This table consists of Dim Sum & Formosa securities denominated in Chinese Renmimbi. This excludes asset-backed securities and convertible n ta securities. There is a minimum threshold of 12 months for maturities, call or put periods, and CNY 300MM minimum amount for self-led securities. S Please see League Table Standards and Guidelines for further details.

Bloomberg League Table Reports Page 2 Bloomberg Hong Kong Capital Markets | FY 2018

Offshore China Bonds: Industry Breakdown

Offshore China Bonds 13%

FY 2018 FY 2017 6% 6% Mkt Volume (USD Deal Prev Prev Mkt Mkt Share 6% Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) 61% 8% Bank of China 1 6.652 11,075 200 1 7.504 -0.852 HSBC 2 5.974 9,946 170 2 6.003 -0.029 Bank of Communications 3 3.733 6,216 101 11 2.965 0.768 Haitong Securities 4 3.669 6,109 119 8 3.595 0.074 Industrial & Comm Bank of 5 3.650 6,077 128 4 4.060 -0.410 Financials 61% China Industrials 8% Standard Chartered Bank 6 3.643 6,065 113 3 4.384 -0.741 Technology 6% Goldman Sachs 7 3.513 5,849 61 10 3.230 0.283 Materials 6% China Citic Bank 8 2.934 4,884 96 14 2.633 0.301 Government 6% Guotai Junan Securities 9 2.797 4,657 113 21 1.728 1.069 Others 13% Credit Suisse 10 2.698 4,491 53 9 3.250 -0.552 JP Morgan 11 2.582 4,298 51 12 2.922 -0.340 Industrial Bank 12 2.508 4,176 84 29 1.303 1.205 Offshore China Bonds: Manager Rankings History China Everbright Bank 13 2.496 4,155 96 33 0.929 1.567 UBS 14 2.430 4,046 68 16 2.574 -0.144 2018 2017 2016 10 China Construction Bank 15 2.420 4,029 94 6 3.704 -1.284

Mizuho Financial 16 2.349 3,911 72 30 1.136 1.213 8 ) % (

BNP Paribas 17 2.311 3,847 66 18 2.344 -0.033 e

r 6 a h

Morgan Stanley 18 2.248 3,743 64 5 3.915 -1.667 S

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k 4 r

Citi 19 2.217 3,691 70 7 3.699 -1.482 a M

Credit Agricole CIB 20 2.140 3,563 53 22 1.702 0.438 2 TOTAL 100% 166,492 447 100% 0 a s s a k n C n e n n i B o ti i a h S ti ri h C H a u C B f c c f d o i e o re This table consists of debt & preferred securities issued by Chinese issuers in all currencies except CNY. This excludes asset-backed securities, k n S k e n u n rt a m g a a B m n B h o to C bonds with warrants, certificates of deposit, convertible securities, and credit-linked notes. There is a minimum threshold of 18 months for i m C a rd f H m a o o d k C n maturities and USD 100MM minimum amount issued. Please see League Table Standards and Guidelines for further details. n a a & t B l S ia tr s u d In

Bloomberg League Table Reports Page 3 Bloomberg Hong Kong Capital Markets | FY 2018

Hong Kong Equity & Rights Offerings: Industry Breakdown

Hong Kong Equity & Rights Offerings 10% 27% 11% FY 2018 FY 2017

Mkt Volume (USD Deal Prev Prev Mkt Mkt Share 14% Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%)

Morgan Stanley 1 11.979 7,318 26 1 15.356 -3.377 23% 15% Citi 2 7.092 4,333 15 6 3.505 3.587 Bank of America Merrill Lynch 3 7.087 4,329 4 3 5.475 1.612 Goldman Sachs 4 6.656 4,066 19 2 8.903 -2.247 UBS 5 5.766 3,522 23 5 3.532 2.234 Technology 27% China International Capital 6 4.667 2,851 21 11 3.013 1.654 Financials 23% Corp Consumer Discretionary 15% China Merchants Bank 7 4.543 2,776 26 8 3.321 1.222 Industrials 14% Haitong Securities 8 3.358 2,052 39 4 3.950 -0.592 Health Care 11% China Construction Bank 9 3.299 2,015 29 10 3.183 0.116 Others 10% Agricultural Bank of China 10 3.297 2,014 32 16 2.267 1.030 China Merchants Securities 11 3.289 2,009 17 12 2.804 0.485 HSBC 12 3.101 1,894 13 7 3.449 -0.348 Hong Kong Equity & Rights Offerings: Manager Rankings Industrial & Comm Bank of 13 2.919 1,783 17 18 1.590 1.329 History China

JP Morgan 14 2.757 1,684 13 14 2.747 0.010 2018 2017 2016 CITIC Securities 15 2.640 1,613 20 13 2.764 -0.124 20 Guotai Junan Securities 16 2.236 1,366 21 19 0.927 1.309 15 )

BNP Paribas 17 1.818 1,111 8 25 0.810 1.008 % (

e r a

Bank of China 18 1.796 1,097 10 17 2.075 -0.279 h

S 10

t e k China Securities 19 1.560 953 13 24 0.886 0.674 r a M AMTD Global Markets Ltd 20 1.408 860 12 36 0.420 0.988 5 TOTAL 100% 61,089 372 100% 0 y ti h s p e i c h S r l C n c B o n y a U C ta L l l S a This table consists of equity & rights offerings syndicated in Hong Kong. This excludes private placements and self-led offerings. Please see S il n it n rr a p a e a g m C r M ld l League Table Standards and Guidelines for further details. o a o a M c G n ri o e ti m a A rn f te o n k I n a a in B h C

Bloomberg League Table Reports Page 4 Bloomberg Hong Kong Capital Markets | FY 2018

Hong Kong Equity IPO: Industry Breakdown

Hong Kong Equity IPO 7% 10% 23% FY 2018 FY 2017

Mkt Volume (USD Deal Prev Prev Mkt Mkt Share 18% Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) 21% China Merchants Bank 1 5.868 2,143 23 1 6.286 -0.418 Agricultural Bank of China 2 5.347 1,953 31 5 4.924 0.423 21% Goldman Sachs 3 5.215 1,905 12 25 1.077 4.138 China Construction Bank 4 5.209 1,903 26 4 5.671 -0.462 China Merchants Securities 5 5.135 1,876 16 3 5.772 -0.637 Industrials 23% Morgan Stanley 6 5.073 1,853 14 6 4.560 0.513 Consumer Discretionary 21% Industrial & Comm Bank of 7 4.836 1,766 16 13 3.296 1.540 Technology 21% China Financials 18% UBS 8 4.449 1,625 10 10 3.569 0.880 Health Care 10% China International Capital 9 4.378 1,599 16 2 5.933 -1.555 Others 7% Corp Haitong Securities 10 4.250 1,552 35 8 4.158 0.092 CITIC Securities 11 3.264 1,192 18 14 2.634 0.630 Hong Kong Equity IPO: Manager Rankings History JP Morgan 12 3.113 1,137 9 16 2.491 0.622

HSBC 13 3.094 1,130 9 11 3.412 -0.318 2018 2017 2016 Bank of China 14 3.003 1,097 10 7 4.476 -1.473 10

Bank of America Merrill Lynch 15 2.903 1,060 3 12 3.401 -0.498 8 ) %

BNP Paribas 16 2.865 1,046 7 29 0.907 1.958 (

e

r 6 a

China Securities 17 2.514 918 12 19 1.924 0.590 h S

t e

k 4 Citi 18 2.480 906 12 15 2.570 -0.090 r a M AMTD Global Markets Ltd 19 2.355 860 12 28 0.913 1.442 2 Guotai Junan Securities 20 2.315 845 16 23 1.194 1.121 0 TOTAL 100% 36,523 204 100% k a s k s y n in h n ie le a h c a it n B C a B r a s f S n u t t o n o c S n a ti e n a k c S a h n m u s g rc a ld tr t r e B o s n o l G n a M This table consists of Initial Public Offerings and Local Market First Sale syndicated in Hong Kong. This excludes private placements, rights M ra o h a u C rc n lt e i u a h c in M offerings, and self-led offerings. Please see League Table Standards and Guidelines for further details. C ri h a g C in A h C

Bloomberg League Table Reports Page 5 Bloomberg Hong Kong Capital Markets | FY 2018

Hong Kong Equity Offerings: Industry Breakdown

Hong Kong Equity Offerings 8%

11% 30% FY 2018 FY 2017 Mkt Volume (USD Deal Prev Prev Mkt Mkt Share 15% Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%)

Morgan Stanley 1 12.341 7,318 26 1 16.401 -4.060 19% 16% Citi 2 7.306 4,333 15 5 3.743 3.563 Bank of America Merrill Lynch 3 7.301 4,329 4 3 5.081 2.220 Goldman Sachs 4 6.857 4,066 19 2 9.509 -2.652 UBS 5 5.940 3,522 23 4 3.772 2.168 Technology 30% China Merchants Bank 6 4.681 2,776 26 7 3.547 1.134 Financials 19% China International Capital 7 3.694 2,191 20 9 3.218 0.476 Consumer Discretionary 16% Corp Industrials 15% China Construction Bank 8 3.398 2,015 29 14 2.803 0.595 Health Care 11% Agricultural Bank of China 9 3.397 2,014 32 15 2.421 0.976 Others 8% China Merchants Securities 10 3.388 2,009 17 10 2.994 0.394 HSBC 11 3.195 1,894 13 6 3.684 -0.489 Industrial & Comm Bank of 12 3.007 1,783 17 18 1.699 1.308 Hong Kong Equity Offerings: Manager Rankings History China

Haitong Securities 13 2.968 1,760 38 13 2.853 0.115 2018 2017 2016 JP Morgan 14 2.840 1,684 13 12 2.934 -0.094 20 CITIC Securities 15 2.720 1,613 20 11 2.952 -0.232 15 ) %

Bank of China 16 1.850 1,097 10 16 2.216 -0.366 (

e r a

Guotai Junan Securities 17 1.813 1,075 20 31 0.660 1.153 h

S 10

t e k BNP Paribas 18 1.764 1,046 7 24 0.866 0.898 r a M China Securities 19 1.607 953 13 22 0.946 0.661 5 AMTD Global Markets Ltd 20 1.451 860 12 35 0.449 1.002 0 i TOTAL 100% 59,300 354 100% y it h s S k le C c h B n n n c U a a y a B t L S s S ll n t n ri a n a r a g e m h r M ld rc o a o e M c G This table consists of equity offerings syndicated in Hong Kong. This excludes private placements, rights offerings, and self-led offerings. Please ri M e a m in A h see League Table Standards and Guidelines for further details. f C o k n a B

Bloomberg League Table Reports Page 6 Bloomberg Hong Kong Capital Markets | FY 2018

Hong Kong/Macau Loans (Bookrunner): Industry Breakdown Hong Kong/Macau Loans (Bookrunner)

FY 2018 FY 2017 16%

Mkt Volume (USD Deal Prev Prev Mkt Mkt Share 8% Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) 57% HSBC 1 9.610 6,692 34 4 8.062 1.548 19% Industrial & Comm Bank of 2 8.577 5,972 23 3 8.150 0.427 China Bank of China 3 7.183 5,002 23 2 9.652 -2.469 Standard Chartered Bank 4 6.943 4,834 33 1 10.214 -3.271 Financials 57% China Construction Bank 5 6.819 4,749 20 7 4.405 2.414 Consumer Discretionary 19% China Merchants Bank 6 4.118 2,867 6 5 5.527 -1.409 Materials 8% Credit Agricole CIB 7 4.025 2,803 5 24 1.017 3.008 Others 16% Mitsubishi UFJ Financial Group 8 3.982 2,773 12 13 2.533 1.449 Inc BNP Paribas 9 3.007 2,094 11 21 1.154 1.853 Hong Kong/Macau Loans: Bookrunner Rankings History Mizuho Financial 10 2.703 1,882 13 9 3.488 -0.785 Bank of America Merrill Lynch 11 2.589 1,803 4 25 0.862 1.727 2018 2017 2016 15 ANZ Banking Group 12 2.545 1,772 12 6 4.411 -1.866 DBS Group 13 2.009 1,399 10 10 3.447 -1.438 )

% 10 (

Sumitomo Mitsui Financial 14 1.928 1,342 8 17 1.479 0.449 e r a h

China Citic Bank 15 1.668 1,162 6 20 1.357 0.311 S

t e k r

First Abu Dhabi Bank PJSC 16 1.634 1,138 9 34 0.551 1.083 a 5 M Fubon Financial Holding 17 1.465 1,020 7 14 1.717 -0.252 Agricultural Bank of China 18 1.432 997 6 43 0.363 1.069 0 a a k k k Deutsche Bank 19 1.430 996 5 11 2.988 -1.558 C n n n n n B i i a a a S h h B B B H C C f f d n ts o o re io n Bank of East Asia 20 1.361 948 8 44 0.355 1.006 k k e t a n n rt c h a a a ru c B B h t r C s e m n M rd o TOTAL 100% 69,633 123 100% m a C a o d a in C n in h & ta h C l S C ia tr s u d This table consists of loans with a market of syndication as Hong Kong or Macau. This excludes bilateral loans. There is a minimum threshold of 3 In months for maturities. Please see League Table Standards and Guidelines for further details.

Bloomberg League Table Reports Page 7 Bloomberg Hong Kong Capital Markets | FY 2018

Hong Kong/Macau Loans (Mandated Lead Arranger): Industry Breakdown Hong Kong/Macau Loans (Mandated Lead Arranger)

FY 2018 FY 2017 16%

Mkt Volume (USD Deal Prev Prev Mkt Mkt Share 8% Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) 57% Bank of China 1 9.849 11,211 75 1 8.973 0.876 19% HSBC 2 8.055 9,169 85 2 8.685 -0.630 Industrial & Comm Bank of 3 6.929 7,887 66 5 5.056 1.873 China China Construction Bank 4 4.425 5,037 43 6 4.699 -0.274 Financials 57% China Merchants Bank 5 4.339 4,939 24 7 3.723 0.616 Consumer Discretionary 19% DBS Group 6 4.090 4,656 40 4 5.496 -1.406 Materials 8% Mitsubishi UFJ Financial Group 7 3.948 4,494 35 10 2.711 1.237 Others 16% Inc Standard Chartered Bank 8 3.684 4,194 47 3 5.854 -2.170 Credit Agricole CIB 9 2.735 3,113 18 16 1.886 0.849 Hong Kong/Macau Loans: Mandated Lead Arranger Bank of East Asia 10 2.431 2,768 33 13 2.246 0.185 Rankings History BNP Paribas 11 2.288 2,605 23 22 1.384 0.904

ANZ Banking Group 12 2.088 2,377 22 8 3.357 -1.269 2018 2017 2016 Mizuho Financial 13 2.086 2,375 24 12 2.250 -0.164 10

Bank of Communications 14 2.074 2,361 27 9 2.982 -0.908 8 ) %

China Cinda Asset Management 15 2.026 2,306 25 20 1.573 0.453 (

e

r 6 a Sumitomo Mitsui Financial 16 1.993 2,269 18 17 1.830 0.163 h S

t e

k 4 r

China Minsheng Banking Corp 17 1.989 2,264 22 24 1.304 0.685 a M

United Overseas Bank 18 1.968 2,240 22 14 2.192 -0.224 2 China Citic Bank 19 1.947 2,216 13 21 1.509 0.438 0 Oversea-Chinese Banking Corp 20 1.875 2,134 15 15 1.954 -0.079 a C a k k p in B in n n u h S h a a ro C C B B G f H f n s o o o t S TOTAL 100% 113,827 206 100% ti n B k k c a n n u h D a a tr rc B B s e n m o M m C a o a in C in h & h C l C This table consists of loans with a market of syndication as Hong Kong or Macau. This excludes bilateral loans. There is a minimum threshold of 3 ia tr s u d months for maturities. Please see League Table Standards and Guidelines for further details. In

Bloomberg League Table Reports Page 8 Bloomberg Hong Kong Capital Markets | FY 2018

Hong Kong Borrower Loans (Bookrunner): Industry Breakdown Hong Kong Borrower Loans (Bookrunner)

FY 2018 FY 2017 18% Mkt Volume (HKD Deal Prev Prev Mkt Mkt Share Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) 12% HSBC 1 13.745 30,316 19 2 8.664 5.081 Bank of China 2 8.312 18,333 12 1 14.984 -6.672 70% Standard Chartered Bank 3 8.117 17,903 14 7 4.543 3.574 Industrial & Comm Bank of 4 7.100 15,660 10 5 5.108 1.992 China Financials 70% Mitsubishi UFJ Financial Group 5 6.173 13,616 7 13 2.207 3.966 Consumer Discretionary 12% Inc Others 18% Credit Agricole CIB 6 4.194 9,250 1 - - 4.194 ANZ Banking Group 7 3.986 8,792 7 10 2.936 1.050 Mizuho Financial 8 3.647 8,043 8 11 2.459 1.188 Hong Kong Borrower Loans: Bookrunner Rankings History Sumitomo Mitsui Financial 9 3.456 7,622 6 9 3.020 0.436 BNP Paribas 10 3.110 6,859 3 28 0.822 2.288 2018 2017 2016 15 China Merchants Bank 11 2.909 6,417 3 3 7.720 -4.811 Fubon Financial Holding 12 2.591 5,716 6 8 4.183 -1.592 )

% 10 (

Mega Financial Holding 13 2.521 5,561 6 38 0.547 1.974 e r a h

China Construction Bank 14 2.462 5,430 7 12 2.455 0.007 S

t e k r DBS Group 15 2.194 4,840 4 6 4.719 -2.525 a 5 M Bank of East Asia 16 1.944 4,287 5 42 0.429 1.515 China Minsheng Banking Corp 17 1.808 3,988 3 19 1.364 0.444 0 a k a c United Overseas Bank 18 1.800 3,970 3 31 0.734 1.066 C n n n n IB B i a i I C S h h p H C B C u le f d f o o o re o r c k e k G ri Bank of Communications 19 1.755 3,870 6 51 0.190 1.565 n rt n l g a a a ia A B h B c t C n i m a d rd n re Deutsche Bank 20 1.624 3,583 2 16 1.719 -0.095 a m i C d o F n C J ta & F l U S a i TOTAL 100% 220,568 62 100% ri h t is s b u u d s In it M This table consists of loans with borrowers that have a country of risk as Hong Kong and with a market of syndication in the APAC region. This excludes bilateral loans. There is a minimum threshold of 3 months for maturities. Please see League Table Standards and Guidelines for further details.

Bloomberg League Table Reports Page 9 Bloomberg Hong Kong Capital Markets | FY 2018

Hong Kong Borrower Loans (Mandated Lead Arranger): Industry Breakdown Hong Kong Borrower Loans (Mandated Lead Arranger)

FY 2018 FY 2017 18% Mkt Volume (HKD Deal Prev Prev Mkt Mkt Share Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) 12% HSBC 1 12.123 50,746 56 2 10.315 1.808 Bank of China 2 9.720 40,690 42 1 11.866 -2.146 70% Industrial & Comm Bank of China 3 7.442 31,152 34 3 6.614 0.828 Mitsubishi UFJ Financial Group Inc 4 4.904 20,527 20 11 2.521 2.383 DBS Group 5 4.804 20,112 21 4 6.329 -1.525 Financials 70% Standard Chartered Bank 6 4.454 18,645 23 8 3.457 0.997 Consumer Discretionary 12% Oversea-Chinese Banking Corp 7 3.307 13,844 10 9 2.850 0.457 Others 18% China Construction Bank 8 3.256 13,630 19 7 3.547 -0.291 Mizuho Financial 9 3.022 12,648 16 13 2.274 0.748 China Cinda Asset Management 10 2.945 12,326 12 24 1.124 1.821 Hong Kong Borrower Loans: Mandated Lead Arranger Sumitomo Mitsui Financial 11 2.546 10,658 11 15 1.855 0.691 Rankings History United Overseas Bank 12 2.533 10,605 15 14 1.978 0.555 ANZ Banking Group 13 2.397 10,036 13 12 2.514 -0.117 2018 2017 2016 15 Bank of East Asia 14 2.355 9,856 17 10 2.784 -0.429 BNP Paribas 15 2.312 9,679 11 30 0.849 1.463 )

% 10 (

Credit Agricole CIB 16 2.223 9,305 12 20 1.493 0.730 e r a h S

Shanghai Pudong Development 17 1.876 7,854 10 27 0.883 0.993 t e k r Bank a 5 M China Citic Bank 18 1.624 6,797 5 16 1.822 -0.198 Fubon Financial Holding 19 1.331 5,573 10 18 1.582 -0.251 0 a a c p k C n n n u n China Merchants Bank 20 1.309 5,479 6 6 4.010 -2.701 B i i I o a S h h p r H C C u G B f f o d o o r S re k k G B e TOTAL 100% 418,602 113 100% n n l D rt a a ia a B B c h n C m a n rd m i a o F d C J n & F ta l U a i S This table consists of loans with borrowers that have a country of risk as Hong Kong and with a market of syndication in the APAC region. This ri h t is s b u u d s excludes bilateral loans. There is a minimum threshold of 3 months for maturities. Please see League Table Standards and Guidelines for further In it M details.

Bloomberg League Table Reports Page 10 Bloomberg – League Tables Criteria

General Guidelines

Credit is based on the total amount of the offering sold to the public. Full credit is awarded to the sole bookrunning manager or split equally among joint bookrunning managers; unless full, explicit breakdown of bookrunning is provided by an involved party. Regional and local tables are identified based on factors such as currency, market of issuer and/or country of risk/incorporation.

Fixed Income

All transactions must have a maturity/call/put option of minimum 18 months. Make-whole call and provisional call/put are exempted from this rule. Note: Criteria may vary for some local and/or regional tables. USD denominated 144A/REG S issues are credited 100% to the 144A tranche and 0% to the REG S tranche. Non-USD denominated 144A/REG S issues are credited 100% to the REG S tranche and 0% to the 144A tranche. Self- led transactions are included. New money portions of exchange offers are eligible for credit.

Exclusions: Accredited investor tranches, asset-backed issues, auction note agencies, collateralized bond obligations, collateralized loan obligations, commercial paper, municipal bonds, mortgage-backed issues, remarketed issues, repackaged bonds, government borrowing scheme retained bonds, variable principal redemption issues, variable interest equity-linked issues, and credit linked notes, selling group agency issues, strips, units, warrants, self-led under USD 50 million. Note: Criteria may vary for some local and/or regional tables.

Equities-Linked

Equity-linked transactions: Convertible bonds, convertible preferred stock and exchangeable bonds. Only issues that mature and are callable/ puttable in 12 months or longer are included. Make-whole call, provisional call and provisional put are exempted from this rule. Convertible bonds with attached warrants are included. These are defined as synthetic convertibles with the combination of a fixed income instrument and warrants which can be converted into shares. The embedded warrant can be detachable or non-detachable but the bond and the warrant must be sold as a unit, i.e. there cannot be separate book building for the warrant and the bond.

Exclusions: Redemption-linked instruments, reverse convertibles or similar instruments, synthetics convertibles, issues convertible into participation in an underlying fund or investment trust, pre-IPO convertible instruments, certain lower hierarchy titles, i.e. Jr Bookrunner.

Equities

Equity market transactions: Initial public offerings, additional offerings of common stocks, units, and depositary receipts (ADRs, GDRs, etc) and rights offerings.

Exclusions: Non-underwritten/best efforts, privately placed transactions, funds, self-led, preferred offerings, pre-negotiated offerings, certain lower hierarchy titles, i.e. Jr Bookrunner. Note: Criteria may vary for some local and/or regional tables.

Bloomberg L.P. reserves the right of final decision concerning league eligibility and requires adequate documentation for the same. Bloomberg L.P. and its suppliers believe the information herein was obtained from reliable sources, but they do not guarantee its accuracy. Neither the information nor the opinion expressed constitutes a solicitation of the purchase or sale of securities or commodities. Due to the dynamic nature of the Professional Service product, League Table rankings may vary between the quarterly/year-end publications and data found on the Bloomberg Professional Service. Bloomberg – League Tables Criteria

Loans

Includes executed syndicated loans transactions. Full credit is awarded to the banks satisfying the highest of the titles. Full credit is awarded to the sole bookrunning manager or split equally among joint bookrunning managers. Credit is allocated to amended or amended and restated transactions, where each modification is 100% at the lender’s option and not as a result of events already built into the original credit agreement. Credit is awarded for the following structural changes only: maturity extensions of three months or more, incremental basis for increased in deal size, reduction in pricing, full release of security.

Exclusions: Bilateral transactions, transactions with a maturity of less than three months, loans withdrawn prior to signing, amended or restated securitizations, receivable and guarantee facilities.

US Municipals

Standard published tables will award deal credit based on true economic credit as reported by the issuer or the bookrunner. In absence of reported economic credit, 100% will be assigned to the bookrunner.

Dollar value of credit will be assigned based on the percentage allocation reported for economic credit (or designated by the user in a custom table) and applied against the total par value of the bonds issued. Zero coupon bonds (CABS) or intermediate appreciation bonds (convertible CABs) will be included at the market value (accreted value) on the interest accrual date.

All debt issued by municipal issuers will be eligible for league credit. Taxable and tax-exempt debt is eligible for league credit unless a table includes specific tax type criteria. “Tax-exempt” is defined as federally tax-exempt and includes bonds subject to AMT and bonds designated as Bank Qualified.

Each table is provided in three formats. “Economic Credit” displays rankings based on true economic credit allocations of applicable deals. “Left Lead” assigns 100% credit to the bookrunner and 0% to all other syndicate participants. “Deal Count” displays rankings based on deal quantity rather than aggregate economic credit amounts. A “deal” refers to the aggregate series within an issuance led by a particular underwriter or syndicate. For example: a $50 million issuance is split into three series- a $10 million Series A, a $20 million Series B, and a $20 million Series C. Bank 1 is the underwriter of Series A & B, while Bank 2 is the underwriter of Series C. Bank 1 would have one “deal” worth $30 million, and Bank 2 would have one “deal” worth $20 million.

Exclusions: Derivatives, private placements, variable rate preferred securities, municipal commercial paper, and remarketings are excluded from municipal league table eligibility.

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

Bloomberg L.P. reserves the right of final decision concerning league eligibility and requires adequate documentation for the same. Bloomberg L.P. and its suppliers believe the information herein was obtained from reliable sources, but they do not guarantee its accuracy. Neither the information nor the opinion expressed constitutes a solicitation of the purchase or sale of securities or commodities. Due to the dynamic nature of the Professional Service product, League Table rankings may vary between the quarterly/year-end publications and data found on the Bloomberg Professional Service.