GLOBAL EQUITY CAPITAL MARKET LEAGUE TABLES

FY 2015 FY 2015

MANAGER RANKINGS GLOBAL EQUITY, EQUITY LINKED & RIGHTS

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

DATA SUBMISSIONS AND QUERIES

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

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

Global Equity, Equity Linked & Rights: Industry Breakdown

Financials 37% Global Equity Review Health Care 11% 11% FY 2015 credited Global Equity, Equity Linked & Rights volume decreased 4.70% to USD 783.8 Bln while deal Consumer Discretionary 11% 7% count decreased 0.82% to 4,239 offerings year-on-year. Global Equity IPO volume decreased 23.43% year-on- 37% Industrials 8% year to USD 192.7 Bln while the deal count increased 7.16% to 1,287. Global Equity Linked volume decreased 7% 15.29% year-on-year to USD 85.3 Bln over 341 deals. Energy 8% 8% Goldman Sachs ranked as the top Global Equity, Equity Linked & Rights underwriter for FY 2015 with 8.89% Technology 7% market share. The bank underwrote 323 deals over the period. Morgan Stanley and JP Morgan ranked second 8% Communications 7% 11% and third with 8.60% and 8.41% market share, respectively. 11% Others 11%

Global Equity, Equity Linked & Rights: Highlights of 2015

Top Underwriter Issuer Industry Volume (USD Mln) Date Banco Santander SA Financials 8,872 01/09/2015 Goldman Sachs Japan Post Holdings Co Ltd Financials 5,728 10/26/2015 Number of deals 323 Standard Chartered PLC Financials 5,154 12/11/2015 Volume (USD Mln) 69,682 Global Equity, Equity Linked & Rights: Industry Breakdown Actavis plc Health Care 5,060 02/25/2015 Avg Deal size (USD Mln) 215.7 Japan Post Bank Co Ltd Financials 5,006 10/19/2015 Industry Volume (USD Mln) % Of Total % YOY Change Huatai Securities Co Ltd Financials 5,000 05/22/2015 Market Summary Financials 319,293 37.4% 6.0% Guotai Junan Securities Co Financials 4,842 06/16/2015 Number of deals 4,239 Health Care 92,142 10.8% 46.8% Aena SA Industrials 4,822 02/10/2015 Volume (USD Mln) 783,797 Consumer Discretionary 90,413 10.6% -35.7% Credit Suisse Group AG Financials 4,695 12/04/2015 Avg Deal size (USD Mln) 184.9 Industrials 66,927 7.8% -9.1% National Australia Bank Ltd Financials 4,359 05/20/2015 Energy 66,024 7.7% -26.0% Technology 61,853 7.2% -5.8% Communications 60,169 7.0% -4.2% Global Equity, Equity Linked & Rights: Quarterly Volume Materials 39,791 4.7% -2.8% Utilities 31,062 3.6% -22.0%

Consumer Staples 26,736 3.1% -20.7% Global Equity | FY 2015 Deal Count Rights Equity-Linked IPO

Add'l 400 1,800

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

Deal Count Deal Count Offering Type Volume (USD Mln) % Of Total % YOY Change 1,000

200 Additional Offerings 444,508 52.6% 8.2% Bloomberg USD BlnUSD Bln IPO 195,402 23.1% -24.2% Equity-Linked 110,111 13.0% -12.3% 500 100 Rights Offerings 94,533 11.2% -18.2%

0 0

Q4 2010 Q4 2011 Q4 2012 Q4 2013 Q4 2014 Q4 2015

Quarters

1 Global Equity, Equity Linked & Rights Global Equity & Equity Linked FY 2015 FY 2014 FY 2015 FY 2014

Mkt Volume (USD Deal Mkt Volume (USD Firm Rank Share(%) Mln) Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Goldman Sachs 1 8.89 69,682 323 1 9.17 -0.28 Goldman Sachs 1 9.06 64,735 310 1 9.44 -0.38 Morgan Stanley 2 8.60 67,422 378 2 8.73 -0.13 Morgan Stanley 2 8.82 63,037 366 2 8.86 -0.04 JP Morgan 3 8.41 65,880 378 3 8.21 0.20 JP Morgan 3 8.05 57,553 350 3 7.98 0.07 Bank of America Merrill 4 6.78 53,114 312 5 7.28 -0.50 Bank of America Merrill 4 6.48 46,309 299 5 7.49 -1.01 Lynch Lynch UBS 5 6.32 49,516 241 7 5.49 0.83 Citi 5 6.03 43,080 282 4 7.62 -1.59 Citi 6 5.82 45,603 293 4 7.36 -1.54 UBS 6 5.96 42,577 220 8 5.47 0.49 Credit Suisse 7 5.45 42,681 283 8 5.31 0.14 Credit Suisse 7 5.54 39,620 262 7 5.56 -0.02 Deutsche Bank 8 4.91 38,508 232 6 6.38 -1.47 Deutsche Bank 8 5.02 35,871 220 6 6.51 -1.49 Barclays 9 4.25 33,333 214 9 4.35 -0.10 Barclays 9 4.48 32,004 209 9 4.37 0.11

RBC Capital Markets 10 1.90 14,901 166 10 2.10 -0.20 RBC Capital Markets 10 2.01 14,399 162 10 2.23 -0.22 5

Nomura 11 1.76 13,816 133 12 1.94 -0.18 Nomura 11 1.91 13,641 129 11 2.01 -0.10 1

HSBC 12 1.53 11,965 74 11 2.07 -0.54 Wells Fargo 12 1.59 11,365 115 13 1.74 -0.15 0 2

Wells Fargo 13 1.49 11,697 116 13 1.60 -0.11 HSBC 13 1.53 10,932 66 12 1.74 -0.21

Macquarie 14 1.39 10,884 70 15 0.97 0.42 Jefferies 14 1.30 9,296 149 14 1.05 0.25 Y

Jefferies 15 1.26 9,868 150 14 1.03 0.23 Mizuho Financial 15 1.17 8,330 61 26 0.48 0.69 F

BNP Paribas 16 1.25 9,790 59 16 0.87 0.38 BNP Paribas 16 1.07 7,612 48 18 0.72 0.35 |

Mizuho Financial 17 1.06 8,330 61 28 0.44 0.62 Sumitomo Mitsui Financial 17 1.02 7,286 80 17 0.84 0.18 y t

Societe Generale 18 1.00 7,854 46 17 0.87 0.13 Macquarie 18 0.93 6,678 61 15 0.95 -0.02 i

Sumitomo Mitsui Financial 19 0.93 7,286 80 19 0.78 0.15 CITIC Securities Co Ltd 19 0.93 6,647 38 23 0.57 0.36 u CITIC Securities Co Ltd 20 0.87 6,816 41 24 0.54 0.33 Societe Generale 20 0.86 6,127 41 21 0.69 0.17 q E

TOTAL 100% 783,797 4,239 100% TOTAL 100% 714,707 3,988 100% l a

Global Equity Offerings Global Equity IPO b o

FY 2015 FY 2014 FY 2015 FY 2014 l

Mkt Volume (USD Deal Mkt Volume (USD Deal Prev Prev Mkt G

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

Goldman Sachs 1 9.80 61,711 287 1 9.20 0.60 Morgan Stanley 1 7.63 14,697 90 2 8.53 -0.90

Morgan Stanley 2 9.03 56,830 329 2 8.65 0.38 Goldman Sachs 2 5.57 10,740 84 1 8.61 -3.04 g

JP Morgan 3 7.46 46,980 306 4 7.56 -0.10 JP Morgan 3 5.13 9,875 73 4 7.12 -1.99 r

UBS 4 6.58 41,402 209 8 5.70 0.88 Bank of America Merrill Lynch 4 4.68 9,025 72 8 4.21 0.47 e

Bank of America Merrill 5 6.19 38,934 261 5 7.44 -1.25 Deutsche Bank 5 4.68 9,018 71 3 7.15 -2.47 b Lynch Citi 6 4.65 8,962 81 6 6.03 -1.38 Citi 6 6.14 38,677 262 3 7.99 -1.85 UBS 7 4.58 8,821 57 7 4.58 0.00 m

Credit Suisse 7 5.64 35,477 242 7 5.71 -0.07 Credit Suisse 8 3.01 5,801 64 5 6.54 -3.53 o

Deutsche Bank 8 4.93 31,039 200 6 6.79 -1.86 Barclays 9 2.80 5,403 46 9 2.91 -0.11 o l Barclays 9 4.21 26,487 187 9 4.38 -0.17 HSBC 10 2.36 4,553 27 10 2.88 -0.52 B RBC Capital Markets 10 1.92 12,096 147 10 2.04 -0.12 Nomura 11 1.91 3,678 44 11 1.76 0.15 Nomura 11 1.72 10,847 112 12 1.64 0.08 CITIC Securities Co Ltd 12 1.59 3,061 23 18 1.07 0.52 Jefferies 12 1.35 8,484 139 14 1.09 0.26 Jefferies 13 1.46 2,820 44 14 1.37 0.09 HSBC 13 1.28 8,040 49 13 1.62 -0.34 Daiwa Securities 14 1.17 2,250 18 42 0.37 0.80 Wells Fargo 14 1.27 8,004 101 11 1.69 -0.42 Sumitomo Mitsui Financial 15 1.16 2,235 29 23 0.70 0.46 Macquarie 15 1.01 6,332 56 15 1.05 -0.04 RBC Capital Markets 16 1.09 2,099 33 17 1.12 -0.03 CITIC Securities Co Ltd 16 0.95 5,954 37 23 0.52 0.43 Everbright Securities Co 17 1.08 2,075 7 130 0.06 1.02 Sumitomo Mitsui Financial 17 0.91 5,716 71 17 0.83 0.08 China International Capital 18 1.07 2,068 19 25 0.62 0.45 Mizuho Financial 18 0.80 5,018 48 24 0.48 0.32 Corp BMO Capital Markets 19 0.79 4,965 63 16 0.93 -0.14 Ping An Insurance Group Co 19 1.07 2,056 23 185 0.03 1.04 Daiwa Securities 20 0.75 4,749 52 21 0.56 0.19 Huatai Securities Co Ltd 20 0.97 1,873 9 61 0.20 0.77 TOTAL 100% 629,430 3,647 100% TOTAL 100% 192,680 1,287 100%

2 Global Equity Linked FY 2015 FY 2014

Mkt Volume (USD Deal Firm Rank Share(%) Mln) Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) JP Morgan 1 12.40 10,573 44 2 10.69 1.71 Bank of America Merrill 2 8.65 7,375 38 4 7.83 0.82 Lynch Morgan Stanley 3 7.28 6,207 37 3 10.23 -2.95 Barclays 4 6.47 5,517 22 9 4.30 2.17 Deutsche Bank 5 5.67 4,832 20 6 4.72 0.95 Citi 6 5.16 4,403 20 5 5.17 -0.01 Credit Suisse 7 4.86 4,143 20 7 4.61 0.25 BNP Paribas 8 3.98 3,396 20 12 2.64 1.34 Wells Fargo 9 3.94 3,361 14 15 2.04 1.90

Mizuho Financial 10 3.88 3,312 13 26 0.50 3.38 5

Goldman Sachs 11 3.55 3,024 23 1 11.01 -7.46 1

HSBC 12 3.39 2,892 17 13 2.53 0.86 0 2

Nomura 13 3.28 2,794 17 8 4.39 -1.11

RBC Capital Markets 14 2.70 2,303 15 11 3.46 -0.76 Y

Sumitomo Mitsui Financial 15 1.84 1,570 9 19 0.95 0.89 F

Societe Generale 16 1.80 1,539 11 14 2.12 -0.32 |

Credit Agricole CIB 17 1.61 1,374 10 18 0.95 0.66 y t

UBS 18 1.38 1,175 11 10 3.95 -2.57 i

BMO Capital Markets 19 1.12 957 8 28 0.49 0.63 u Jefferies 20 0.95 812 10 24 0.76 0.19 q E

TOTAL 100% 85,277 341 100% l a b o l G

g r e b m o o l B

3 US Equity & Equity Linked: Industry Breakdown

Financials 24% US Equity Review Health Care 23% 15% FY 2015 credited US Equity & Equity Linked volume decreased 8.70% to USD 235.7 Bln while deal count 24% Energy 16% decreased 14.69% to 871 offerings year-on-year. US Equity IPO volume decreased 41.88% year-on-year to 10% Technology 12% USD 33.3 Bln while the deal count decreased 31.97% to 166. US Equity Linked volume decreased 20.25% year- on-year to USD 34.3 Bln over 72 deals. Consumer Discretionary 10% JP Morgan ranked as the top US Equity & Equity Linked underwriter for FY 2015 with 12.44% market share. The 12% Others 15% bank underwrote 210 deals over the period. Morgan Stanley and Credit Suisse ranked second and third with 23%

9.94% and 9.73% market share, respectively. 16%

US Equity & Equity Linked: Highlights of 2015

Top Underwriter Volume (USD Issuer Industry Mln) Date JP Morgan Actavis plc Health Care 5,060 02/25/2015 2015 Number of deals 210 Actavis plc Health Care 4,180 02/25/2015 Volume (USD Mln) 29,322 Citizens Financial Group Inc Financials 3,687 03/25/2015 US Equity & Equity Linked: Industry Breakdown Avg Deal size (USD Mln) 139.6 First Data Corp Financials 2,817 10/14/2015 Industry Volume (USD Mln) % Of Total % YOY Change Hilton Worldwide Holdings Consumer 2,686 05/11/2015 Market Summary Inc Discretionary Financials 58,249 24.1% -16.3% Number of deals 871 Citizens Financial Group Inc Financials 2,596 10/29/2015 Health Care 55,642 23.0% 49.5% Volume (USD Mln) 235,685 Citizens Financial Group Inc Financials 2,571 07/28/2015 Energy 37,659 15.6% -25.1% Avg Deal size (USD Mln) 270.6 American Tower Corp Financials 2,507 02/25/2015 Technology 29,758 12.3% -0.9% Mylan NV Health Care 2,349 03/31/2015 Consumer Discretionary 24,868 10.3% -4.7% Endo International PLC Health Care 2,300 06/04/2015 Consumer Staples 7,971 3.3% -11.5% Communications 7,881 3.3% -24.9% Materials 7,445 3.1% -5.1% Utilities 6,728 2.8% -39.0% Global Equity | FY US Equity & Equity Linked: Quarterly Volume Industrials 5,466 2.3% -61.8%

Deal Count Equity-Linked Add'l IPO 100 400

80 US Equity & Equity Linked: Offering Breakdown 300 Offering Type Volume (USD Mln) % Of Total % YOY Change

60 Deal Count Deal Count Additional Offerings 169,995 70.3% 7.3% Bloomberg 200 Equity-Linked 37,726 15.6% -22.2% USD BlnUSD Bln 40 IPO 33,950 14.0% -42.4%

100 20

0 0

Q4 2010 Q4 2011 Q4 2012 Q4 2013 Q4 2014 Q4 2015

Quarters

4 US Equity & Equity Linked US Equity Offerings FY 2015 FY 2014 FY 2015 FY 2014

Mkt Volume (USD Deal Prev Mkt Volume (USD Deal Firm Rank Share(%) Mln) Count Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) JP Morgan 1 12.44 29,322 210 2 11.26 1.18 JP Morgan 1 11.72 23,603 184 3 10.19 1.53 Morgan Stanley 2 9.94 23,422 169 5 10.44 -0.50 Credit Suisse 2 10.49 21,128 140 7 7.47 3.02 Credit Suisse 3 9.73 22,927 151 7 6.97 2.76 Citi 3 9.91 19,961 158 1 12.56 -2.65 Citi 4 9.72 22,917 171 1 11.51 -1.79 Goldman Sachs 4 9.81 19,760 143 5 9.69 0.12 Bank of America Merrill 5 9.44 22,243 188 4 10.77 -1.33 Morgan Stanley 5 9.69 19,517 146 6 9.60 0.09 Lynch Barclays 6 8.87 17,861 131 4 9.74 -0.87 Goldman Sachs 6 9.14 21,552 157 3 10.85 -1.71 Bank of America Merrill Lynch 7 8.59 17,303 165 2 10.89 -2.30 Barclays 7 8.52 20,080 142 6 8.96 -0.44 Deutsche Bank 8 6.03 12,143 98 8 6.29 -0.26 Deutsche Bank 8 5.31 12,515 104 8 6.10 -0.79 Wells Fargo 9 3.92 7,904 96 9 4.97 -1.05 Wells Fargo 9 4.78 11,265 110 9 4.94 -0.16 RBC Capital Markets 10 2.67 5,369 90 10 3.60 -0.93

RBC Capital Markets 10 2.79 6,581 99 10 4.28 -1.49 UBS 11 2.43 4,889 49 11 3.38 -0.95 5

Jefferies 11 2.30 5,419 101 12 1.66 0.64 Jefferies 12 2.34 4,711 93 12 1.64 0.70 1

UBS 12 2.11 4,969 50 11 2.89 -0.78 Cowen & Co 13 1.35 2,717 66 16 0.69 0.66 0 2

Cowen & Co 13 1.22 2,873 70 16 0.60 0.62 Leerink Partners LLC 14 1.17 2,367 45 17 0.63 0.54

Leerink Partners LLC 14 1.03 2,435 46 18 0.52 0.51 Stifel 15 0.99 1,996 59 13 1.08 -0.09 Y

Mizuho Financial 15 0.93 2,182 6 84 0.00 0.93 SunTrust Robinson Humphrey 16 0.98 1,964 23 26 0.18 0.80 F

Stifel 16 0.89 2,097 62 13 0.98 -0.09 Raymond James & 17 0.75 1,512 43 15 0.94 -0.19 |

SunTrust Robinson 17 0.85 2,005 24 24 0.19 0.66 Associates y t

Humphrey BMO Capital Markets 18 0.74 1,481 24 14 0.98 -0.24 i

BMO Capital Markets 18 0.79 1,851 27 14 0.92 -0.13 Piper Jaffray & Co 19 0.71 1,430 41 19 0.43 0.28 u Piper Jaffray & Co 19 0.71 1,668 45 17 0.53 0.18 KeyBanc Capital Markets 20 0.62 1,251 17 20 0.42 0.20 q

Raymond James & 20 0.64 1,512 43 15 0.85 -0.21 E TOTAL 100% 201,424 799 100% Associates l a TOTAL 100% 235,684 871 100% b o US Equity IPO US Equity Linked l G

FY 2015 FY 2014 FY 2015 FY 2014

Mkt Volume (USD Deal Mkt Volume (USD

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

Citi 1 10.16 3,385 36 3 9.41 0.75 JP Morgan 1 16.69 5,718 26 2 16.62 0.07 g r Deutsche Bank 2 9.94 3,310 31 4 9.13 0.81 Bank of America Merrill 2 14.42 4,940 23 4 10.16 4.26 e Bank of America Merrill 3 9.81 3,269 42 7 7.79 2.02 Lynch b Lynch Morgan Stanley 3 11.40 3,905 23 3 14.64 -3.24

Goldman Sachs 4 8.60 2,865 40 2 9.99 -1.39 Wells Fargo 4 9.81 3,361 14 9 4.77 5.04 m

Morgan Stanley 5 7.62 2,539 29 1 11.87 -4.25 Citi 5 8.63 2,956 13 6 6.27 2.36 o Barclays 6 6.96 2,319 29 6 8.27 -1.31 Barclays 6 6.48 2,219 11 8 5.10 1.38 o JP Morgan 7 6.45 2,147 33 5 8.84 -2.39 Credit Suisse 7 5.25 1,799 11 10 4.49 0.76 l

Credit Suisse 8 5.97 1,990 33 9 6.32 -0.35 Goldman Sachs 8 5.23 1,792 14 1 16.66 -11.43 B Wells Fargo 9 3.86 1,287 19 8 6.50 -2.64 RBC Capital Markets 9 3.54 1,212 9 5 7.70 -4.16 RBC Capital Markets 10 3.65 1,217 21 10 3.30 0.35 Mizuho Financial 10 3.45 1,183 3 - - - Jefferies 11 3.64 1,214 27 12 2.16 1.48 BNP Paribas 11 2.10 719 4 18 0.39 1.71 Cantor Fitzgerald 12 2.12 707 6 - - - Jefferies 12 2.07 708 8 11 1.78 0.29 SunTrust Robinson 13 1.98 661 8 38 0.13 1.85 Deutsche Bank 13 1.08 371 6 7 5.17 -4.09 Humphrey BMO Capital Markets 14 1.08 370 3 14 0.63 0.45 Cowen & Co 14 1.86 619 16 19 0.68 1.18 Nomura 15 1.03 354 4 15 0.56 0.47 UBS 15 1.79 596 11 11 2.95 -1.16 Macquarie 16 1.01 346 5 26 0.14 0.87 Leerink Partners LLC 16 1.55 515 12 17 0.85 0.70 US Bancorp 17 0.84 288 1 - - - Stifel 17 1.46 486 15 13 2.00 -0.54 HSBC 17 0.84 288 1 12 1.01 -0.17 Piper Jaffray & Co 18 1.36 454 12 16 0.97 0.39 RBS 19 0.80 275 1 22 0.24 0.56 BMO Capital Markets 19 1.22 405 10 14 1.65 -0.43 TD Securities 19 0.80 275 1 - - - Evercore Partners Inc 20 0.96 320 6 40 0.11 0.85 TOTAL 100% 34,259 72 100% TOTAL 100% 33,311 166 100%

5 Canada Equity, Equity Linked & Preferred: Quarterly Volume

Deal Count Amount Canada Equity Review 20 400 FY 2015 credited Canada Equity, Equity Linked & Preferred volume increased 1.00% to CAD 45.7 Bln while deal 15 300

count decreased 27.64% to 322 offerings year-on-year. Canada Equity IPO volume increased 43.59% year-on- D D e e n n a a l l l l B B

year to CAD 5.7 Bln while the deal count increased 25.00% to 40. Canada Equity Offerings volume increased C C

D D 10 200 o o u u A A n n

9.77% year-on-year to CAD 38.8 Bln over 281 deals. C C t t RBC Capital Markets ranked as the top Canada Equity, Equity Linked & Preferred underwriter for FY 2015 with 5 100 20.15% market share. The bank underwrote 67 deals over the period. BMO Capital Markets and Scotiabank

ranked second and third with 13.60% and 11.12% market share, respectively. 0 0 100 111 122 133 144 155 001 001 001 001 001 001 22 22 22 22 22 22 44 44 44 44 44 44 QQ QQ QQ QQ QQ QQ

Quarters

Canada Equity, Equity Linked & Preferred 5

Canada Equity, Equity Linked & Preferred: Industry Breakdown 1 0 FY 2015 FY 2014 Financials 27% 2

Firm Rank Mkt Share(%) Volume (CAD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Energy 21% Y 12%

RBC Capital Markets 1 20.15 9,214 67 2 15.86 4.29 F

BMO Capital Markets 2 13.60 6,218 51 5 11.21 2.39 27% Utilities 13% | 8%

Scotiabank 3 11.12 5,087 35 1 17.25 -6.13 Materials 11% y t

CIBC 4 9.42 4,307 47 4 11.89 -2.47 i 8% TD Securities 5 8.79 4,019 41 3 12.00 -3.21 Health Care 8% u Deutsche Bank 6 4.99 2,279 4 - - - q

Consumer Discretionary 8% E

National Bank Financial Inc 7 4.87 2,229 36 8 4.71 0.16 11% 21% l JP Morgan 8 3.62 1,655 7 21 0.21 3.41 Others 12% a 13%

Canaccord Genuity 9 2.58 1,180 21 6 6.64 -4.06 b

GMP Securities 10 2.53 1,157 22 7 6.05 -3.52 o l TOTAL 100% 45,723 322 100% G

g

Canada Equity & Equity Linked r Canada Equity, Equity Linked & Preferred: Manager Rankings e FY 2015 FY 2014 History b Firm Rank Mkt Share(%) Volume (CAD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) m RBC Capital Markets 1 19.06 8,134 45 2 14.65 4.41 2015 2014 2013 o BMO Capital Markets 2 13.46 5,745 44 3 12.65 0.81 25 o

Scotiabank 3 10.07 4,299 19 1 14.80 -4.73 l

) 20 % ( CIBC 4 9.58 4,086 35 5 11.43 -1.85 B

e r

TD Securities 5 8.55 3,649 34 4 11.52 -2.97 a h S

Deutsche Bank 6 5.34 2,279 4 - - - t e 10 k r

National Bank Financial Inc 7 4.98 2,124 30 7 5.28 -0.30 a M JP Morgan 8 3.88 1,655 7 21 0.26 3.62

Canaccord Genuity 9 2.77 1,180 21 8 5.03 -2.26 0 s s k s k GMP Securities 10 2.71 1,157 22 6 7.25 -4.54 t t n C e n e e a IB ti a rk rk b C ri B a a ia u TOTAL 100% 42,669 298 100% M M t c e l l o e h a a c S c it it S ts p p D u a a T e C C D C O B M R B

6 Canada Equity Offerings Canada Equity IPO FY 2015 FY 2014 FY 2015 FY 2014

Mkt Volume (CAD Deal Prev Prev Mkt Mkt Volume (CAD Deal Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) RBC Capital Markets 1 18.42 7,150 40 2 14.84 3.58 TD Securities 1 21.67 1,237 10 2 24.32 -2.65 BMO Capital Markets 2 12.95 5,025 39 3 12.61 0.34 BMO Capital Markets 2 19.46 1,111 10 7 3.94 15.52 CIBC 3 9.85 3,822 29 4 11.47 -1.62 RBC Capital Markets 3 13.32 761 6 4 11.07 2.25 Scotiabank 4 9.20 3,570 18 1 15.21 -6.01 CIBC 4 12.03 687 7 1 26.81 -14.78 TD Securities 5 9.13 3,542 30 5 11.33 -2.20 Scotiabank 5 10.03 573 4 8 3.43 6.60 Deutsche Bank 6 5.87 2,279 4 - - - National Bank Financial Inc 6 4.44 253 3 9 1.45 2.99 National Bank Financial Inc 7 4.71 1,830 24 8 4.76 -0.05 Canaccord Genuity 7 3.94 225 6 3 11.41 -7.47 Canaccord Genuity 8 3.04 1,180 21 7 5.28 -2.24 Cantor Fitzgerald 8 3.86 220 3 - - - GMP Securities 9 2.94 1,142 21 6 7.37 -4.43 Bank of America Merrill 9 2.37 136 2 - - - Goldman Sachs 10 2.42 938 3 - - - Lynch

JP Morgan 11 2.39 926 6 30 0.12 2.27 WR Hambrecht + Co LLC 10 1.66 95 1 - - - 5

Morgan Stanley 12 2.27 880 2 20 0.27 2.00 Deutsche Bank 11 1.34 77 1 - - - 1

Credit Suisse 13 1.87 726 4 12 1.65 0.22 Morgan Stanley 12 1.07 61 1 - - - 0 2

Citi 14 1.71 665 4 21 0.25 1.46 Credit Suisse 12 1.07 61 1 5 7.81 -6.74

Cormark Securities Inc 15 1.70 660 24 10 2.21 -0.51 Cormark Securities Inc 14 1.01 58 2 - - - Y

Macquarie 16 1.46 567 9 15 1.01 0.45 GMP Securities 15 0.94 54 1 14 0.06 0.88 F

Peters & Co Ltd 17 1.27 494 6 9 2.75 -1.48 JP Morgan 16 0.81 46 1 - - - |

Barclays 18 1.11 432 2 16 0.61 0.50 Goldman Sachs 16 0.81 46 1 - - - y t Raymond James & 19 0.91 354 7 13 1.43 -0.52 Hampton Securities Ltd 18 0.05 3 2 - - - i

Associates Macquarie 19 0.03 2 1 - - - u UBS 20 0.70 273 2 23 0.21 0.49 Richardson GMP Ltd 20 0.02 1 4 16 0.05 -0.03 q E

TOTAL 100% 38,814 281 100% TOTAL 100% 5,709 40 100% l a

Canadian Retail Structured Products b o

FY 2015 FY 2014 l

Mkt Volume (CAD Deal Prev Prev Mkt G

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

CIBC 1 34.08 678 46 1 29.45 4.63

RBC Capital Markets 2 29.91 595 35 2 27.36 2.55 g

Scotiabank 3 17.28 344 30 3 16.40 0.88 r

BMO Capital Markets 4 7.49 149 12 6 7.54 -0.05 e

National Bank Financial Inc 5 7.23 144 16 4 10.31 -3.08 b TD Securities 6 1.90 38 6 5 8.69 -6.79 Raymond James & 7 0.59 12 2 7 0.08 0.51 m

Associates o

Canaccord Genuity 8 0.25 5 1 7 0.08 0.17 o l Middlefield Capital Corp 8 0.25 5 1 - - -

Mackie Research Capital 8 0.25 5 1 - - - B Corp GMP Securities 8 0.25 5 1 7 0.08 0.17 Dundee Corp 8 0.25 5 1 - - - Manulife Financial Corp 8 0.25 5 1 ------TOTAL 100% 1,989 51 100%

7 Latin America Equity Offerings: Quarterly Volume

Deal Count Amount Latin America Equity Review 80 40 FY 2015 credited Latin America Equity Offerings volume decreased 46.47% to USD 9.8 Bln while deal count 60 30

decreased 38.30% to 29 offerings year-on-year. Brazil Equity Offerings volume increased 9.24% year-on-year to D D e e n n a a l l l l B B

BRL 20.2 Bln while the deal count decreased 37.50% to 15. C C

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

Banco BTG Pactual ranked as the top Latin America Equity Offerings underwriter for FY 2015 with 12.19% U U t t market share. The bank underwrote 9 deals over the period. Banco Santander and JP Morgan ranked second 20 10 and third with 9.20% and 8.92% market share, respectively.

0 0 100 111 122 133 144 155 001 001 001 001 001 001 22 22 22 22 22 22 44 44 44 44 44 44 QQ QQ QQ QQ QQ QQ

Quarters

Latin America Equity Offerings 5

Latin America Equity Offerings: Industry Breakdown 1 0 FY 2015 FY 2014 Communications 60% 2

Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) 7% Financials 14% Y

Banco BTG Pactual 1 12.19 1,193 9 7 5.90 6.29 F

7%

Banco Santander 2 9.20 900 9 9 5.03 4.17 Consumer Discretionary 11% |

JP Morgan 3 8.92 872 7 10 4.42 4.50 y 11% Utilities 7% t

Banco Itau BBA 4 7.91 773 6 1 11.68 -3.77 i

Credit Suisse 5 7.81 764 9 2 10.21 -2.40 Industrials 7% u Bank of America Merrill Lynch 6 6.91 676 7 3 8.39 -1.48 60% q

14% Others 1% E

HSBC 7 6.23 609 5 8 5.28 0.95 l Goldman Sachs 8 5.96 583 4 6 6.35 -0.39 a

Morgan Stanley 9 5.51 539 4 5 7.01 -1.50 b

Bradesco BBI SA 10 5.51 539 4 12 2.44 3.07 o l TOTAL 100% 9,783 29 100% G

g

Brazil Equity Offerings r Latin America Equity Offerings: Manager Rankings History e FY 2015 FY 2014 b 2015 2014 2013 Firm Rank Mkt Share(%) Volume (BRL Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) 15 m Banco BTG Pactual 1 15.31 3,099 8 4 5.89 9.42 o

Credit Suisse 2 9.20 1,862 7 2 14.84 -5.64 ) o % (

10 l e

Bank of America Merrill Lynch 3 8.69 1,758 5 3 8.35 0.34 r a h B Banco Santander 4 8.02 1,624 5 7 4.85 3.17 S

t e

Banco Itau BBA 5 7.86 1,590 4 1 19.04 -11.18 k r 5 a

Bradesco BBI SA 5 7.86 1,590 4 5 5.41 2.45 M JP Morgan 5 7.86 1,590 4 16 0.49 7.37 0 Morgan Stanley 8 7.32 1,481 3 7 4.85 2.47 l r a e n A e h u d a B s c t n rg is n HSBC 8 7.32 1,481 3 7 4.85 2.47 c a o B u y a t u S L P n M ta t ll a P I i ri G S J o d r Goldman Sachs 8 7.32 1,481 3 7 4.85 2.47 T o c re e B c n C M o n a a c a B c TOTAL 100% 20,238 15 100% n B ri a e B m A f o k n a B

8 EMEA Equity, Equity Linked & Rights - Risk: Largest Deals by EMEA Equity Review Country in 2015 Issuer Volume (USD Mln) Date Country FY 2015 credited EMEA Equity, Equity Linked & Rights volume decreased 3.83% to USD 255.8 Bln while deal Dassault Aviation SA 1,952 03/25/2015 France count increased 12.55% to 861 offerings year-on-year. EMEA Equity IPO volume decreased 7.05% year-on- Vonovia SE 2,507 06/30/2015 Germany year to USD 67.9 Bln while the deal count increased 8.37% to 220. EMEA Equity Linked volume decreased Alpha Bank AE 2,749 11/19/2015 Greece 16.67% year-on-year to USD 23.5 Bln over 70 deals. Poste Italiane SpA 3,429 10/23/2015 Italy Bank of America Merrill Lynch ranked as the top EMEA Equity, Equity Linked & Rights underwriter for FY 2015 ABN AMRO Group NV 4,116 11/19/2015 Netherlands with 9.20% market share. The bank underwrote 84 deals over the period. Goldman Sachs and UBS ranked Saudi Ground Services Co 752 06/15/2015 Saudi Arabia second and third with 9.15% and 9.02% market share, respectively. Naspers Ltd 2,501 12/03/2015 South Africa Banco Santander SA 8,872 01/09/2015 Spain Credit Suisse Group AG 4,695 12/04/2015 Switzerland EMEA Equity, EQL & Rights - Risk: Highlights of 2015 Aabar Investments PJSC 1,093 03/23/2015 United Arab Emirates Standard Chartered PLC 5,154 12/11/2015 United Kingdom Issuer Industry Volume (USD Mln) Date

Banco Santander SA Financials 8,872 01/09/2015 Standard Chartered PLC Financials 5,154 12/11/2015 Aena SA Industrials 4,822 02/10/2015 Credit Suisse Group AG Financials 4,695 12/04/2015 EMEA Equity, Equity Linked & Rights - Risk: Industry Breakdown ABN AMRO Group NV Financials 4,116 11/19/2015 Industry Volume (USD Mln) % Of Total % YOY Change Worldpay Group PLC Financials 3,787 10/13/2015 Financials 116,461 41.7% -18.7% Teva Pharmaceutical Industries Ltd Health Care 3,712 12/02/2015 Industrials 34,283 12.3% 39.3% AerCap Holdings NV Financials 3,488 06/03/2015 Consumer Discretionary 34,237 12.3% -22.7% Dufry AG Consumer Discretionary 3,468 06/19/2015 Communications 29,771 10.7% -15.1% Poste Italiane SpA Financials 3,429 10/23/2015 Health Care 16,350 5.9% 62.4% Materials 15,917 5.7% 24.8% Technology 10,826 3.9% -6.9% EMEA Equity, Equity Linked & Rights - Risk Consumer Staples 9,633 3.4% -11.4% Energy 6,683 2.4% -32.0% Global Equity | FY 2015 Deal Count Rights Equity-Linked IPO Utilities 4,915 1.8% -63.0%

Add'l

140 400

120 EMEA Equity, Equity Linked & Rights - Risk: Offering Breakdown 300 100 Offering Type Volume (USD Mln) % Of Total % YOY Change Deal Count Deal Count Bloomberg 80 Additional Offerings 131,683 47.1% 8.7%

200 IPO 69,504 24.9% -9.3%

EUR BlnEUR Bln 60 Rights Offerings 49,811 17.8% -40.5% Equity-Linked 28,371 10.2% -17.1%

40 100

20

0 0

Q4 2010 Q4 2011 Q4 2012 Q4 2013 Q4 2014 Q4 2015

Quarters

9 EMEA Equity, Equity Linked & Rights - Risk EMEA Equity, Equity Linked & Rights - Syndication FY 2015 FY 2014 FY 2015 FY 2014

Mkt Volume (USD Deal Mkt Volume (USD Firm Rank Share(%) Mln) Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Bank of America Merrill 1 9.20 23,540 84 5 7.93 1.27 Goldman Sachs 1 9.02 22,298 80 3 8.40 0.62 Lynch JP Morgan 2 9.02 22,293 101 1 10.10 -1.08 Goldman Sachs 2 9.15 23,406 84 3 8.51 0.64 Bank of America Merrill 3 8.96 22,156 72 5 7.81 1.15 UBS 3 9.02 23,066 84 2 8.66 0.36 Lynch JP Morgan 4 8.86 22,671 98 1 9.80 -0.94 UBS 4 8.79 21,740 74 2 8.94 -0.15 Morgan Stanley 5 8.31 21,261 93 6 7.31 1.00 Morgan Stanley 5 7.97 19,712 83 6 7.29 0.68 Deutsche Bank 6 6.51 16,657 85 4 8.35 -1.84 Deutsche Bank 6 7.66 18,947 82 4 8.32 -0.66 Citi 7 5.47 14,000 59 7 5.62 -0.15 Citi 7 4.83 11,943 46 7 5.57 -0.74 Credit Suisse 8 3.79 9,696 62 8 3.95 -0.16 Barclays 8 4.16 10,273 44 10 3.47 0.69 Barclays 9 3.75 9,592 52 9 3.95 -0.20 Credit Suisse 9 3.72 9,193 59 8 3.91 -0.19

BNP Paribas 10 3.17 8,116 45 12 2.18 0.99 Societe Generale 10 3.08 7,624 45 11 2.80 0.28 5

Societe Generale 11 2.98 7,624 45 11 2.68 0.30 BNP Paribas 11 3.02 7,470 43 12 2.33 0.69 1

HSBC 12 2.68 6,843 36 10 3.71 -1.03 HSBC 12 2.47 6,097 34 9 3.82 -1.35 0 2

Jefferies 13 1.39 3,546 38 15 1.31 0.08 Jefferies 13 1.32 3,269 31 17 1.03 0.29

Berenberg 14 1.16 2,969 25 23 0.68 0.48 Berenberg 14 1.20 2,969 25 23 0.71 0.49 Y

UniCredit 15 1.10 2,813 15 17 1.05 0.05 UniCredit 15 1.14 2,813 15 16 1.09 0.05 F

Commerzbank 16 1.06 2,718 24 16 1.11 -0.05 Commerzbank 16 1.10 2,718 24 15 1.15 -0.05 |

Mediobanca 17 0.99 2,533 11 13 2.08 -1.09 Nomura 17 1.01 2,495 17 25 0.68 0.33 y t

Banco Santander 18 0.97 2,481 13 20 0.88 0.09 Numis Corp PLC 18 0.97 2,393 38 28 0.64 0.33 i

Numis Corp PLC 19 0.94 2,393 38 28 0.61 0.33 Mediobanca 19 0.97 2,392 10 13 2.17 -1.20 u Carnegie 20 0.82 2,107 38 22 0.69 0.13 Banco Santander 20 0.91 2,258 11 21 0.87 0.04 q E

TOTAL 100% 255,778 861 100% TOTAL 100% 247,233 838 100% l a

EMEA Equity & Equity Linked - Risk EMEA Equity & Equity Linked - Syndication b o

FY 2015 FY 2014 FY 2015 FY 2014 l

Mkt Volume (USD Deal Mkt Volume (USD G

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

UBS 1 9.49 20,474 75 2 9.25 0.24 UBS 1 9.25 19,150 66 1 9.62 -0.37

Goldman Sachs 2 9.31 20,086 75 1 9.38 -0.07 Goldman Sachs 2 9.17 18,977 71 3 9.28 -0.11 g

Bank of America Merrill 3 9.11 19,666 77 5 8.67 0.44 Bank of America Merrill 3 8.83 18,265 64 5 8.55 0.28 r

Lynch Lynch e Morgan Stanley 4 9.01 19,457 86 6 7.57 1.44 Morgan Stanley 4 8.65 17,908 76 6 7.59 1.06 b JP Morgan 5 7.34 15,844 82 4 9.14 -1.80 Deutsche Bank 5 8.18 16,928 72 4 9.16 -0.98

Deutsche Bank 6 6.78 14,638 75 3 9.17 -2.39 JP Morgan 6 7.39 15,300 83 2 9.47 -2.08 m

Citi 7 6.03 13,021 56 7 5.65 0.38 Citi 7 5.30 10,964 43 7 5.59 -0.29 o

Barclays 8 3.83 8,264 47 10 3.53 0.30 Barclays 8 4.32 8,945 39 10 2.97 1.35 o l Credit Suisse 9 3.56 7,682 53 8 4.11 -0.55 Credit Suisse 9 3.40 7,030 49 8 4.06 -0.66

HSBC 10 2.83 6,111 32 9 3.54 -0.71 Societe Generale 10 2.85 5,897 40 11 2.50 0.35 B BNP Paribas 11 2.78 5,998 35 12 2.02 0.76 HSBC 11 2.59 5,365 30 9 3.66 -1.07 Societe Generale 12 2.73 5,897 40 11 2.37 0.36 BNP Paribas 12 2.59 5,352 33 12 2.19 0.40 Jefferies 13 1.38 2,974 37 15 1.33 0.05 Jefferies 13 1.30 2,697 30 17 0.98 0.32 Berenberg 14 1.23 2,664 22 19 0.82 0.41 Berenberg 14 1.29 2,664 22 19 0.86 0.43 UniCredit 15 1.10 2,375 13 22 0.64 0.46 UniCredit 15 1.15 2,375 13 22 0.68 0.47 Carnegie 16 0.97 2,087 35 18 0.85 0.12 Nomura 16 1.15 2,371 15 32 0.46 0.69 Numis Corp PLC 17 0.96 2,067 35 21 0.66 0.30 Carnegie 17 1.01 2,087 35 18 0.89 0.12 Mediobanca 18 0.95 2,052 9 13 1.42 -0.47 Numis Corp PLC 18 1.00 2,067 35 21 0.70 0.30 Credit Agricole CIB 19 0.95 2,045 16 25 0.56 0.39 Credit Agricole CIB 19 0.99 2,045 16 24 0.59 0.40 Nomura 20 0.88 1,905 11 30 0.46 0.42 Mediobanca 20 0.92 1,912 8 13 1.49 -0.57 TOTAL 100% 215,849 768 100% TOTAL 100% 206,958 744 100%

10 EMEA Equity Linked - Risk EMEA Equity Linked - Syndication FY 2015 FY 2014 FY 2015 FY 2014

Mkt Volume (USD Deal Mkt Volume (USD Firm Rank Share(%) Mln) Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) BNP Paribas 1 10.74 2,527 15 4 8.14 2.60 Deutsche Bank 1 13.78 3,796 11 9 5.26 8.52 JP Morgan 2 8.65 2,037 9 5 8.07 0.58 Barclays 2 10.08 2,778 7 7 7.03 3.05 Bank of America Merrill 3 8.21 1,932 11 2 10.50 -2.29 BNP Paribas 3 8.69 2,393 15 5 8.25 0.44 Lynch JP Morgan 4 7.40 2,037 9 3 8.84 -1.44 HSBC 4 7.38 1,738 10 12 3.26 4.12 Bank of America Merrill 5 5.79 1,595 10 2 10.10 -4.31 Societe Generale 5 6.54 1,539 11 6 7.56 -1.02 Lynch Barclays 6 6.16 1,450 7 7 6.66 -0.50 Societe Generale 6 5.59 1,539 11 6 7.28 -1.69 Morgan Stanley 7 5.71 1,344 7 3 8.92 -3.21 Mizuho Financial 7 5.17 1,425 5 - - - Deutsche Bank 8 5.47 1,287 9 9 4.82 0.65 HSBC 8 5.08 1,401 9 12 3.14 1.94 Credit Agricole CIB 9 5.38 1,268 9 13 3.10 2.28 Morgan Stanley 9 5.07 1,396 9 4 8.58 -3.51

Citi 10 4.53 1,066 4 10 4.03 0.50 Credit Agricole CIB 10 4.60 1,268 9 13 2.98 1.62 5

Credit Suisse 11 4.39 1,034 5 11 3.29 1.10 UBS 11 3.39 935 8 1 10.68 -7.29 1

UBS 12 3.97 935 8 1 11.10 -7.13 Credit Suisse 12 3.27 900 5 11 3.16 0.11 0 2

Goldman Sachs 13 2.79 657 5 8 5.95 -3.16 Citi 13 2.65 729 3 10 3.88 -1.23

Natixis 14 2.71 639 4 16 1.76 0.95 Goldman Sachs 14 2.61 719 6 8 6.34 -3.73 Y

UniCredit 15 2.04 481 3 14 2.59 -0.55 Natixis 15 2.32 639 4 16 1.69 0.63 F

Berenberg 16 1.78 418 4 20 0.65 1.13 Nomura 16 1.87 516 6 - - - |

Mizuho Financial 17 1.43 338 1 - - - UniCredit 17 1.75 481 3 14 2.49 -0.74 y t

Sumitomo Mitsui Financial 17 1.43 338 1 - - - Daiwa Securities 18 1.55 427 4 - - - i

RBC Capital Markets 17 1.43 338 1 - - - Berenberg 19 1.52 418 4 21 0.63 0.89 u ANOA Capital SA 20 1.31 310 4 18 1.00 0.31 ANOA Capital SA 20 1.12 310 4 18 0.97 0.15 q E

TOTAL 100% 23,540 70 100% TOTAL 100% 27,542 81 100% l a

EMEA Equity IPO EMEA Equity Offerings b o

FY 2015 FY 2014 FY 2015 FY 2014 l

Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Mkt Volume (USD G

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

Morgan Stanley 1 9.23 6,266 27 4 6.81 2.42 UBS 1 10.16 19,540 67 4 8.97 1.19

JP Morgan 2 7.26 4,929 23 1 8.91 -1.65 Goldman Sachs 2 10.10 19,428 70 1 9.90 0.20 g

Deutsche Bank 3 6.54 4,442 23 3 6.84 -0.30 Morgan Stanley 3 9.42 18,114 79 6 7.37 2.05 r

Bank of America Merrill Lynch 4 6.45 4,382 19 8 4.77 1.68 Bank of America Merrill 4 9.22 17,734 66 5 8.40 0.82 e Lynch UBS 5 5.92 4,020 20 7 6.35 -0.43 b Goldman Sachs 6 5.63 3,824 20 5 6.67 -1.04 JP Morgan 5 7.18 13,807 73 3 9.30 -2.12 Citi 7 4.97 3,376 20 9 4.30 0.67 Deutsche Bank 6 6.94 13,351 66 2 9.82 -2.88 m

HSBC 8 4.78 3,248 15 6 6.60 -1.82 Citi 7 6.22 11,954 52 7 5.90 0.32 o

Credit Suisse 9 4.31 2,928 16 2 7.19 -2.88 Barclays 8 3.54 6,813 40 10 3.06 0.48 o l Barclays 10 4.16 2,824 15 12 2.38 1.78 Credit Suisse 9 3.46 6,648 48 8 4.24 -0.78 B Banco Santander 11 2.45 1,661 7 57 0.20 2.25 HSBC 10 2.27 4,373 22 9 3.58 -1.31 SEB 12 2.18 1,483 14 15 1.51 0.67 Societe Generale 11 2.27 4,359 29 11 1.60 0.67 Carnegie 13 1.93 1,309 15 14 1.70 0.23 BNP Paribas 12 1.80 3,471 20 17 1.11 0.69 BNP Paribas 14 1.91 1,295 8 17 1.33 0.58 Jefferies 13 1.49 2,870 35 14 1.53 -0.04 Berenberg 15 1.84 1,252 7 33 0.58 1.26 Berenberg 14 1.17 2,246 18 20 0.84 0.33 Jefferies 16 1.83 1,240 12 13 2.19 -0.36 Carnegie 15 1.09 2,087 35 18 0.97 0.12 Intesa Sanpaolo 17 1.74 1,180 6 28 0.68 1.06 Numis Corp PLC 16 1.07 2,067 35 21 0.76 0.31 Societe Generale 18 1.64 1,111 14 22 0.91 0.73 Mediobanca 17 1.07 2,052 9 13 1.57 -0.50 Banco Bilbao Vizcaya 19 1.49 1,010 2 - - - UniCredit 18 0.99 1,894 10 37 0.36 0.63 Argentaria Nomura 19 0.98 1,877 10 27 0.53 0.45 Numis Corp PLC 20 1.48 1,007 9 16 1.42 0.06 Banco Santander 20 0.92 1,770 10 26 0.57 0.35 TOTAL 100% 67,916 220 100% TOTAL 100% 192,309 698 100%

11 EMEA Rights Offerings Western Europe Equity, Equity Linked & Rights FY 2015 FY 2014 FY 2015 FY 2014

Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Mkt Volume (EUR Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Firm Rank Share(%) Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) JP Morgan 1 17.10 6,827 16 1 12.77 4.33 Goldman Sachs 1 10.29 19,781 72 3 9.15 1.14 Bank of America Merrill Lynch 2 9.70 3,875 7 8 4.57 5.13 Bank of America Merrill 2 10.13 19,468 73 5 8.71 1.42 Goldman Sachs 3 8.32 3,321 9 9 4.55 3.77 Lynch UBS 4 6.49 2,592 9 3 5.96 0.53 UBS 3 9.84 18,922 74 2 9.42 0.42 BNP Paribas 5 5.30 2,118 10 14 2.93 2.37 JP Morgan 4 9.76 18,759 84 1 10.42 -0.66 Deutsche Bank 6 5.06 2,019 10 7 4.62 0.44 Morgan Stanley 5 8.39 16,125 80 6 7.65 0.74 Credit Suisse 7 5.04 2,014 9 13 3.23 1.81 Deutsche Bank 6 6.96 13,379 69 4 8.77 -1.81 Morgan Stanley 8 4.52 1,804 7 2 6.09 -1.57 Citi 7 4.98 9,577 45 7 5.43 -0.45 Societe Generale 9 4.32 1,727 5 11 4.08 0.24 Credit Suisse 8 3.76 7,220 52 8 4.22 -0.46 Barclays 10 3.33 1,329 5 4 5.85 -2.52 Barclays 9 3.53 6,793 37 9 3.96 -0.43

Citi 11 2.45 980 3 5 5.48 -3.03 Societe Generale 10 3.29 6,329 40 10 2.76 0.53 5

Commerzbank 12 2.04 813 3 12 3.33 -1.29 BNP Paribas 11 3.06 5,890 36 12 2.24 0.82 1

HSBC 13 1.83 732 4 10 4.51 -2.68 HSBC 12 1.91 3,676 24 13 2.08 -0.17 0 2

Banco Santander 14 1.78 710 3 17 2.28 -0.50 Jefferies 13 1.58 3,029 34 14 1.37 0.21

Banco Bilbao Vizcaya 15 1.51 605 2 22 1.33 0.18 Berenberg 14 1.34 2,577 23 22 0.77 0.57 Y

Argentaria Commerzbank 15 1.22 2,350 21 15 1.17 0.05 F

Jefferies 16 1.43 572 1 23 1.23 0.20 Banco Santander 16 1.04 2,008 10 19 0.97 0.07 |

Natixis 17 1.38 551 4 25 1.09 0.29 Mediobanca 17 0.96 1,851 9 11 2.30 -1.34 y t

ING Groep 18 1.33 530 5 18 2.09 -0.76 Numis Corp PLC 18 0.95 1,819 34 27 0.65 0.30 i

Mediobanca 19 1.20 481 2 6 5.11 -3.91 Credit Agricole CIB 19 0.92 1,769 14 23 0.75 0.17 u UniCredit 20 1.10 438 2 15 2.89 -1.79 Davy 20 0.86 1,650 11 28 0.56 0.30 q E

TOTAL 100% 39,928 93 100% TOTAL 100% 192,229 640 100% l a

Eastern Europe Equity, Equity Linked & Rights AIM Equity Offerings b o

FY 2015 FY 2014 FY 2015 FY 2014 l

Mkt Volume (EUR Deal Prev Prev Mkt Mkt Share Firm Rank Mkt Share(%) Volume (GBP Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) G

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

Cenkos Securities 1 21.44 1,005 19 2 9.48 11.96

VTB Capital 1 19.83 650 8 5 6.32 13.51 Zeus Capital 2 17.10 801 14 1 20.63 -3.53 JP Morgan 2 9.84 322 4 9 3.97 5.87

Numis Corp PLC 3 6.33 297 14 5 5.26 1.07 g

PKO Bank Polski SA 3 9.53 312 6 13 2.86 6.67 Peel Hunt LLP 4 6.02 282 19 12 1.97 4.05 r

Wood & Co Financial Services 4 6.75 221 6 24 1.19 5.56 Liberum Capital Ltd 5 4.97 233 9 4 8.79 -3.82 e AS Investec 6 4.22 198 11 8 3.18 1.04 b Credit Suisse 5 6.47 212 3 6 5.18 1.29 Panmure Gordon 7 3.71 174 18 6 5.20 -1.49 m Unlu Menkul Degerler AS 6 5.41 177 4 - - - Shore Capital Group Ltd 8 3.15 148 10 7 4.98 -1.83

Citi 7 4.58 150 4 3 7.45 -2.87 o Canaccord Genuity 9 3.08 144 9 3 9.34 -6.26

Morgan Stanley 8 3.88 127 2 26 1.04 2.84 o

Cantor Fitzgerald 10 2.57 121 15 35 0.37 2.20 l Ipopema Securities SA 9 3.44 113 4 20 1.32 2.12 JP Morgan 11 2.53 119 3 13 1.87 0.66 B Goldman Sachs 10 2.92 96 4 7 5.12 -2.20 Oakley Capital Ltd 12 2.10 99 2 - - - Societe Generale 11 2.65 87 2 2 8.41 -5.76 Rabobank Nederland 13 1.98 93 1 - - - Otkritie Financial Corp JSC 12 2.42 79 1 - - - Nplus1 Singer Ltd 14 1.89 88 8 27 0.65 1.24 Aton Capital Group 13 2.18 71 1 - - - Mirabaud Securities 15 1.88 88 7 14 1.84 0.04 Macquarie 14 2.02 66 1 14 2.68 -0.66 Berenberg 16 1.43 67 1 23 0.78 0.65 Java Capital 14 2.02 66 1 16 2.27 -0.25 Jefferies 17 1.28 60 2 16 1.53 -0.25 UBS 16 1.89 62 1 4 7.01 -5.12 FinnCap 18 1.21 57 14 9 2.41 -1.20 UniCredit 17 1.79 59 3 17 2.24 -0.45 WH Ireland Ltd 19 1.09 51 14 18 1.08 0.01 Commerzbank 18 1.73 57 2 31 0.40 1.33 Goodbody 20 0.88 41 2 - - - Jefferies 19 1.55 51 1 30 0.50 1.05 TOTAL 100% 4,685 305 100% AK Yatirim Menkul Degerler 20 1.04 34 1 - - - A.S. TOTAL 100% 3,276 46 100%

12 Africa Equity, Equity Linked & Rights Sub-Sahara Equity , Equity Linked & Rights FY 2015 FY 2014 FY 2015 FY 2014

Mkt Volume (USD Deal Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Firm Rank Share(%) Mln) Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Citi 1 21.29 2,088 4 1 18.43 2.86 Citi 1 22.31 1,977 3 1 19.19 3.12 Morgan Stanley 2 17.50 1,716 3 2 15.55 1.95 Morgan Stanley 2 19.37 1,716 3 2 16.19 3.18 Java Capital 3 12.38 1,214 21 4 8.72 3.66 Java Capital 3 13.70 1,214 21 4 9.08 4.62 UBS 4 7.37 722 2 - - - UBS 4 8.15 722 2 - - - Investec 5 4.79 469 6 11 2.38 2.41 Investec 5 5.30 469 6 11 2.47 2.83 JP Morgan 6 4.63 454 2 6 6.56 -1.93 Bank of America Merrill Lynch 6 3.92 347 2 - - - Goldman Sachs 7 4.10 402 2 - - - Natixis 7 3.44 305 1 - - - EFG-Hermes 8 4.00 393 3 17 0.89 3.11 JP Morgan 7 3.44 305 1 6 6.83 -3.39 Bank of America Merrill 9 3.54 347 2 - - - HSBC 7 3.44 305 1 12 2.47 0.97 Lynch Standard Bank of South Africa 10 3.20 284 3 7 6.43 -3.23

Natixis 10 3.11 305 1 - - - FirstRand Ltd 11 3.06 271 4 8 5.79 -2.73 5

HSBC 10 3.11 305 1 12 2.37 0.74 Goldman Sachs 12 3.05 270 1 - - - 1

Standard Bank of South Africa 12 2.90 284 3 7 6.17 -3.27 One Capital 13 2.29 203 1 - - - 0 2

FirstRand Ltd 13 2.76 271 4 8 5.56 -2.80 Barclays 14 1.57 139 3 3 9.62 -8.05

One Capital 14 2.07 203 1 - - - QuestCo Pty Ltd 15 0.80 71 1 - - - Y

Deutsche Bank 15 1.43 140 2 10 2.86 -1.43 RMB Holdings Ltd 16 0.79 70 1 - - - F

Barclays 16 1.42 139 3 3 9.24 -7.82 Nedbank Ltd 17 0.46 41 3 - - - |

QuestCo Pty Ltd 17 0.72 71 1 - - - PSG Group Ltd 18 0.45 40 2 - - - y t RMB Holdings Ltd 18 0.71 70 1 - - - Renaissance Capital Holdings 19 0.45 40 1 14 2.41 -1.96 i

Nedbank Ltd 19 0.42 41 3 - - - Ltd u PSG Group Ltd 20 0.41 40 2 - - - United Investments Ltd 20 0.26 23 1 - - - q E

TOTAL 100% 9,805 68 100% TOTAL 100% 8,859 61 100% l a

MENA Equity, Equity Linked & Rights b o

FY 2015 FY 2014 l

Mkt Volume (USD Deal Prev Prev Mkt Mkt Share G

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

HSBC 1 17.43 948 3 1 34.06 -16.63

Deutsche Bank 2 16.49 897 5 11 1.81 14.68 g

EFG-Hermes 3 8.35 454 4 5 3.47 4.88 r

Bank of America Merrill Lynch 4 8.04 437 2 6 2.49 5.55 e

BNP Paribas 4 8.04 437 2 - - - b Barclays 4 8.04 437 2 18 0.76 7.28 Societe Generale 4 8.04 437 2 - - - m

National Bank of Kuwait 8 4.01 218 1 - - - o

JP Morgan 9 2.75 149 1 3 4.74 -1.99 o l Bank Muscat 10 2.69 146 1 14 1.30 1.39 B Goldman Sachs 11 2.43 132 1 8 1.95 0.48 Riyad Bank 12 2.21 120 1 24 0.11 2.10 Citi 13 2.05 111 1 9 1.92 0.13 FALCOM Financial Services/Saudi 14 1.81 99 2 - - - Arabia Saudi Hollandi Bank 15 1.72 93 2 21 0.45 1.27 Banque Saudi Fransi 16 1.23 67 1 12 1.80 -0.57 Bank Al-Jazira 17 1.18 64 1 - - - Commercial International Bank of 18 1.13 62 1 22 0.42 0.71 Egypt Saudi Investment Bank/The 19 1.03 56 1 24 0.11 0.92 Gulf International Bank BSC 20 0.98 53 1 2 28.86 -27.88 TOTAL 100% 5,438 24 100%

13 Asia ex-Japan Equity, Equity Linked & Rights

Deal Count Rights IPO Asia Pacific Equity Review Add'l 140 800 FY 2015 credited APAC ex-Japan Equity, Equity Linked & Rights volume decreased 1.15% to USD 206.4 Bln

100 D D e e n n l l while deal count increased 5.60% to 2,038 offerings year-on-year. APAC ex-Japan Equity IPO volume 500 a a l l B B

C C D D o o u u S S

decreased 24.68% year-on-year to USD 78.0 Bln while the deal count increased 20.83% to 754. APAC ex-Japan n n U U t t Equity Linked volume decreased 30.26% year-on-year to USD 12.7 Bln over 147 deals.

Goldman Sachs ranked as the top APAC ex-Japan Equity, Equity Linked & Rights underwriter for FY 2015 with 0 0 100 111 122 133 144 155 001 001 001 001 001 001 9.84% market share. The bank underwrote 66 deals over the period. UBS and Morgan Stanley ranked second 22 22 22 22 22 22 44 44 44 44 44 44 Q Q Q Q Q Q and third with 9.39% and 6.95% market share, respectively. Q Q Q Q Q Q Quarters Australia/New Zealand Equity, EQL & Rights APAC Equity, Equity Linked & Rights: Highlights of 2015 Deal Count Rights IPO

Issuer Industry Volume (USD Mln) Date Add'l 5 1 Japan Post Holdings Co Ltd Financials 5,728 10/26/2015 20 400 0 2

Japan Post Bank Co Ltd Financials 5,006 10/19/2015 D D e e

n n l l a a l l B B

Huatai Securities Co Ltd Financials 5,000 05/22/2015 C C D D 10 200 o o 10 200 Y u u S S n n U U t t

Guotai Junan Securities Co Ltd Financials 4,842 06/16/2015 F

National Australia Bank Ltd Financials 4,359 05/20/2015 |

0 0 Haitong Securities Co Ltd Financials 4,247 05/28/2015 0 1 2 3 4 5 y 110 111 112 113 114 115 200 200 200 200 200 200 t 2 2 2 2 2 2 i 44 44 44 44 44 44 GF Securities Co Ltd Financials 4,138 03/31/2015 QQ QQ QQ QQ QQ QQ u

Coal India Ltd Energy 3,634 01/30/2015 Quarters q

Caltex Australia Ltd Energy 3,614 03/30/2015 E

China Equity, Equity Linked & Rights l Commonwealth Bank of Australia Financials 3,586 08/26/2015 a b Deal Count Rights IPO o l Add'l

300 400 G APAC Equity, Equity Linked & Rights: Industry Breakdown

D D

200 e e

n n 200 l l a a

l l B B

C C D D 200 o o u u S S n n g U U

Industry Volume (USD Mln) % Of Total % YOY Change t t r Financials 123,305 44.5% 68.7% 17% e Consumer Discretionary 27,444 9.9% -59.3% 0 0 100 111 122 133 144 155 b 001 001 001 001 001 001 22 22 22 22 22 22 Industrials 25,516 9.2% -3.8% 44 44 44 44 44 44 5% QQ QQ QQ QQ QQ QQ m 45% Technology 20,507 7.4% -6.6% Quarters 7% o Health Care 18,398 6.6% 31.1% o

Japan Equity & Equity Linked l 7% Energy 15,122 5.5% 16.2%

Utilities 13,792 5.0% -4.2% B 9% Deal Count Rights IPO 10% Materials 12,891 4.7% -16.9% Add'l Communications 11,139 4.0% -12.6% 2,500 100 Consumer Staples 8,644 3.1% -30.3% 2,000 D D e e n n a a l l l l

B B C C

o o D D 50 u u S S

1,000 n n U U 1,000 t t

0 0 100 111 122 133 144 155 001 001 001 001 001 001 22 22 22 22 22 22 44 44 44 44 44 44 QQ QQ QQ QQ QQ QQ

Quarters

14 Asia ex-Japan Equity, Equity Linked & Rights Asia ex-Japan Equity, EQL & Rights ex-CH A Shares FY 2015 FY 2014 FY 2015 FY 2014

Mkt Volume (USD Deal Prev Prev Mkt Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Goldman Sachs 1 8.20 13,591 50 2 8.27 -0.07 Morgan Stanley 1 8.44 11,086 64 1 10.39 -1.95 Morgan Stanley 2 6.72 11,141 65 1 9.36 -2.64 Goldman Sachs 2 7.76 10,197 48 2 9.21 -1.45 UBS 3 6.32 10,488 43 7 4.47 1.85 UBS 3 5.72 7,512 39 7 4.67 1.05 JP Morgan 4 4.59 7,605 38 4 6.56 -1.97 JP Morgan 4 5.68 7,469 37 3 7.37 -1.69 Credit Suisse 5 4.58 7,596 47 3 6.68 -2.10 Credit Suisse 5 4.97 6,526 45 5 6.88 -1.91 CITIC Securities Co Ltd 6 4.27 7,087 44 10 2.98 1.29 Citi 6 3.96 5,200 39 4 6.94 -2.98 Citi 7 3.24 5,372 42 5 6.35 -3.11 CITIC Securities Co Ltd 7 3.58 4,708 33 10 2.18 1.40 China International Capital 8 2.52 4,178 29 11 2.08 0.44 HSBC 8 2.81 3,697 29 9 3.57 -0.76 Corp Bank of America Merrill Lynch 9 2.30 3,027 21 8 3.59 -1.29 HSBC 9 2.23 3,697 29 8 3.47 -1.24 China International Capital Corp 10 2.26 2,964 20 15 1.61 0.65

Haitong Securities Co Ltd 10 2.14 3,542 64 21 1.02 1.12 Deutsche Bank 11 2.25 2,961 17 6 6.32 -4.07 5

Deutsche Bank 11 2.02 3,354 23 6 5.67 -3.65 Haitong Securities Co Ltd 12 2.15 2,830 52 24 0.76 1.39 1

China Securities Co Ltd 12 1.94 3,212 16 29 0.65 1.29 China Construction Bank 13 2.04 2,687 26 11 2.09 -0.05 0 2

Bank of America Merrill Lynch 13 1.83 3,027 21 9 3.07 -1.24 China Merchants Bank 14 1.91 2,508 15 80 0.09 1.82

China Merchants Securities 14 1.78 2,951 30 12 1.94 -0.16 Nomura 15 1.75 2,306 30 33 0.46 1.29 Y

China Construction Bank 15 1.62 2,687 26 14 1.79 -0.17 China Merchants Securities 16 1.69 2,218 19 17 1.27 0.42 F

China Merchants Bank 16 1.51 2,508 15 102 0.08 1.43 NH Investment & Securities Co 17 1.56 2,053 28 - - - |

Huatai Securities Co Ltd 17 1.50 2,495 15 36 0.40 1.10 Ltd y t

Nomura 18 1.39 2,306 30 37 0.40 0.99 Kingston Financial Group Ltd 18 1.54 2,026 76 27 0.66 0.88 i

Guosen Securities Co Ltd 19 1.27 2,108 26 27 0.67 0.60 Agricultural Bank of China Ltd 19 1.38 1,808 16 35 0.44 0.94 u Ping An Insurance Group Co 20 1.27 2,099 26 88 0.10 1.17 Kotak Mahindra Bank Ltd 20 1.35 1,772 18 36 0.44 0.91 q E

TOTAL 100% 165,829 1,646 100% TOTAL 100% 131,393 1,410 100% l a

Asia ex-Japan Equity & Equity Linked Asia ex-Japan Equity Linked b o

FY 2015 FY 2014 FY 2015 FY 2014 l

Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Mkt Volume (USD Deal Prev Prev Mkt G

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

Goldman Sachs 1 8.60 12,068 43 2 6.74 1.86 JP Morgan 1 17.09 2,117 7 4 6.71 10.38

Morgan Stanley 2 7.28 10,214 58 1 8.96 -1.68 Credit Suisse 2 10.58 1,310 4 1 9.50 1.08 g

UBS 3 6.74 9,451 38 3 5.12 1.62 HSBC 3 7.00 867 6 5 6.57 0.43 r

CITIC Securities Co Ltd 4 4.93 6,918 41 7 4.05 0.88 CITIC Securities Co Ltd 4 5.60 693 1 7 5.00 0.60 e

Credit Suisse 5 4.46 6,262 31 5 4.80 -0.34 China International Capital 5 5.24 649 3 10 4.45 0.79 b JP Morgan 6 3.37 4,722 25 6 4.51 -1.14 Corp Citi 7 3.23 4,532 36 4 4.98 -1.75 KGI Securities Co Ltd 6 5.07 628 17 8 4.79 0.28 m

China International Capital Corp 8 2.98 4,178 29 11 2.71 0.27 Guotai Junan Securities Co Ltd 7 3.19 395 1 - - - o

Haitong Securities Co Ltd 9 2.34 3,278 60 17 1.43 0.91 China Securities Co Ltd 8 3.12 387 1 14 1.79 1.33 o l HSBC 10 2.10 2,951 22 9 3.35 -1.25 Citi 9 3.07 380 3 3 7.17 -4.10 B Deutsche Bank 11 1.97 2,770 20 8 3.48 -1.51 Goldman Sachs 10 2.93 363 2 2 9.37 -6.44 China Securities Co Ltd 12 1.82 2,550 13 26 0.90 0.92 Bank of America Merrill Lynch 11 2.69 333 3 12 2.67 0.02 Bank of America Merrill Lynch 13 1.63 2,281 14 10 3.16 -1.53 Fubon Financial Holding Co Ltd 12 2.24 277 10 31 0.67 1.57 Huatai Securities Co Ltd 14 1.61 2,251 14 34 0.55 1.06 Morgan Stanley 13 1.94 240 2 9 4.69 -2.75 China Merchants Securities 15 1.60 2,239 27 12 2.52 -0.92 Huatai Securities Co Ltd 14 1.90 236 2 33 0.55 1.35 China Construction Bank 16 1.52 2,131 24 13 2.49 -0.97 Bank of China 15 1.78 221 4 38 0.41 1.37 Ping An Insurance Group Co 17 1.50 2,099 26 81 0.13 1.37 CIMB 16 1.78 221 3 26 0.92 0.86 Everbright Securities Co 18 1.48 2,075 7 83 0.12 1.36 China Merchants Securities 17 1.72 213 3 16 1.46 0.26 NH Investment & Securities Co 19 1.46 2,053 28 - - - Yuanta Securities Co Ltd 18 1.68 209 12 29 0.79 0.89 Ltd Guosen Securities Co Ltd 19 1.56 193 1 36 0.44 1.12 Bank of China 20 1.34 1,873 21 14 2.20 -0.86 Barclays 20 1.48 183 3 17 1.40 0.08 TOTAL 100% 140,270 1,494 100% TOTAL 100% 12,381 145 100%

15 Asia ex-Japan Equity Linked ex-China Exchanges Asia ex-Japan Equity Offerings FY 2015 FY 2014 FY 2015 FY 2014

Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Mkt Volume (USD Deal Prev Prev Mkt Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) JP Morgan 1 23.24 1,981 6 3 8.67 14.57 CITIC Securities Co Ltd 1 7.37 18,342 75 7 4.03 3.34 HSBC 2 10.17 867 6 4 8.49 1.68 Goldman Sachs 2 5.49 13,645 50 2 6.07 -0.58 KGI Securities Co Ltd 3 7.37 628 17 7 6.19 1.18 UBS 3 5.10 12,681 46 8 3.70 1.40 Citi 4 4.46 380 3 2 9.26 -4.80 Morgan Stanley 4 4.95 12,306 70 1 7.52 -2.57 Goldman Sachs 5 4.25 363 2 5 7.35 -3.10 Guotai Junan Securities Co Ltd 5 4.05 10,087 60 11 2.46 1.59 Bank of America Merrill Lynch 6 3.91 333 3 8 3.46 0.45 China Securities Co Ltd 6 3.26 8,109 49 9 3.43 -0.17 Fubon Financial Holding Co Ltd 7 3.25 277 10 25 0.87 2.38 China Merchants Securities 7 3.19 7,947 51 16 1.97 1.22 Morgan Stanley 8 2.82 240 2 12 2.20 0.62 Haitong Securities Co Ltd 8 3.16 7,865 85 10 2.80 0.36 Credit Suisse 8 2.82 240 2 1 10.75 -7.93 Southwest Securities Co Ltd 9 3.07 7,642 40 18 1.74 1.33 Bank of China 10 2.59 221 4 32 0.53 2.06 Credit Suisse 10 2.68 6,665 45 3 5.08 -2.40

CIMB 11 2.59 221 3 21 1.18 1.41 JP Morgan 11 2.55 6,335 33 4 5.03 -2.48 5

China Merchants Securities 12 2.49 213 3 - - - Deutsche Bank 12 2.48 6,175 27 6 4.59 -2.11 1

Yuanta Securities Co Ltd 13 2.45 209 12 23 1.02 1.43 China International Capital 13 2.39 5,941 30 15 2.06 0.33 0 2

Barclays 14 2.15 183 3 14 1.81 0.34 Corp

UBS 15 1.88 160 2 9 3.17 -1.29 Citi 14 2.21 5,490 43 5 4.68 -2.47 Y

BNP Paribas 16 1.76 150 1 17 1.36 0.40 Huatai Securities Co Ltd 15 2.05 5,098 40 19 1.67 0.38 F

China International Capital Corp 16 1.76 150 1 37 0.36 1.40 Guosen Securities Co Ltd 16 1.55 3,846 40 17 1.94 -0.39 |

Shinyoung Securities Co Ltd 18 1.61 137 1 45 0.28 1.33 GF Securities 17 1.53 3,815 53 12 2.43 -0.90 y t Mega Securities Co Ltd 19 1.56 133 10 53 0.18 1.38 Ping An Insurance Group Co 18 1.36 3,395 28 98 0.08 1.28 i Hong Leong Investment Bank 20 1.46 125 3 - - - Sinolink Securities Co Ltd 19 1.19 2,959 26 32 0.69 0.50 u Bhd HSBC 20 1.14 2,830 23 14 2.19 -1.05 q E

TOTAL 100% 8,522 136 100% TOTAL 100% 248,748 1,947 100% l a

Asia ex-Japan Equity IPO b o

FY 2015 FY 2014 l

Mkt Volume (USD Deal Prev Prev Mkt G

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

Morgan Stanley 1 5.43 3,936 24 2 7.88 -2.45

CITIC Securities Co Ltd 2 4.23 3,061 23 8 3.07 1.16 g

UBS 3 4.15 3,004 13 12 2.69 1.46 r

China Merchants Securities 4 3.51 2,540 24 7 3.38 0.13 e

Huatai Securities Co Ltd 5 2.92 2,117 10 32 0.59 2.33 b Goldman Sachs 6 2.90 2,102 14 1 8.91 -6.01 Everbright Securities Co 7 2.86 2,075 7 63 0.18 2.68 m

China International Capital 8 2.85 2,068 19 14 1.90 0.95 o

Corp o l Ping An Insurance Group Co 9 2.84 2,056 23 90 0.08 2.76

China Construction Bank 10 2.65 1,922 17 15 1.53 1.12 B Guosen Securities Co Ltd 11 2.64 1,914 25 19 1.22 1.42 China Securities Co Ltd 12 2.18 1,582 11 22 0.90 1.28 Citi 13 2.15 1,554 17 4 6.79 -4.64 Deutsche Bank 14 1.93 1,401 15 6 6.22 -4.29 HSBC 15 1.91 1,383 11 11 2.88 -0.97 Bank of China 16 1.86 1,350 13 9 3.06 -1.20 Haitong Securities Co Ltd 17 1.84 1,332 27 17 1.42 0.42 Agricultural Bank of China Ltd 18 1.84 1,330 12 27 0.74 1.10 Southwest Securities Co Ltd 19 1.81 1,314 7 56 0.23 1.58 China Merchants Bank 20 1.76 1,273 12 68 0.15 1.61 TOTAL 100% 72,445 676 100%

16 APAC Equity, Equity Linked & Rights APAC Equity & Equity Linked FY 2015 FY 2014 FY 2015 FY 2014

Mkt Volume (USD Deal Prev Prev Mkt Mkt Volume (USD Deal Prev Prev Mkt Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) Goldman Sachs 1 9.40 23,435 76 2 9.32 0.08 Goldman Sachs 1 9.95 21,891 73 2 9.28 0.67 Morgan Stanley 2 8.69 21,681 112 1 9.49 -0.80 Morgan Stanley 2 8.68 19,100 107 1 9.47 -0.79 UBS 3 8.40 20,943 105 3 5.84 2.56 UBS 3 7.52 16,550 92 5 5.90 1.62 JP Morgan 4 4.90 12,216 59 8 4.86 0.04 Nomura 4 5.07 11,161 108 4 6.02 -0.95 Nomura 5 4.50 11,213 110 6 5.53 -1.03 JP Morgan 5 4.94 10,881 49 8 4.77 0.17 Macquarie 6 3.84 9,566 48 10 2.86 0.98 Credit Suisse 6 3.35 7,383 45 7 5.47 -2.12 Credit Suisse 7 3.32 8,281 56 7 5.09 -1.77 CITIC Securities Co Ltd 7 3.14 6,918 41 13 2.21 0.93 Citi 8 3.26 8,136 58 5 5.79 -2.53 Citi 8 3.00 6,593 50 3 6.04 -3.04 CITIC Securities Co Ltd 9 2.84 7,087 44 14 2.08 0.76 Sumitomo Mitsui Financial 9 2.93 6,458 77 10 2.80 0.13 Bank of America Merrill Lynch 10 2.66 6,635 31 9 3.64 -0.98 Deutsche Bank 10 2.61 5,749 35 6 5.87 -3.26

Sumitomo Mitsui Financial 11 2.59 6,458 77 11 2.57 0.02 Daiwa Securities 11 2.49 5,484 59 12 2.38 0.11 5

Deutsche Bank 12 2.55 6,367 37 4 5.82 -3.27 Mizuho Financial 12 2.47 5,440 53 15 1.60 0.87 1

Daiwa Securities 13 2.20 5,484 59 13 2.18 0.02 Macquarie 13 2.44 5,370 40 11 2.75 -0.31 0 2

Mizuho Financial 14 2.18 5,440 53 15 1.47 0.71 China International Capital 14 1.90 4,178 29 16 1.52 0.38

China International Capital 15 1.68 4,178 29 16 1.45 0.23 Corp Y

Corp Bank of America Merrill Lynch 15 1.69 3,722 26 9 3.46 -1.77 F

HSBC 16 1.48 3,697 29 12 2.42 -0.94 HSBC 16 1.54 3,396 25 14 1.88 -0.34 |

Haitong Securities Co Ltd 17 1.42 3,542 64 26 0.71 0.71 Haitong Securities Co Ltd 17 1.49 3,278 60 23 0.78 0.71 y t

China Securities Co Ltd 18 1.29 3,212 16 33 0.45 0.84 China Merchants Securities 18 1.34 2,951 30 17 1.43 -0.09 i

China Merchants Securities 19 1.18 2,951 30 17 1.36 -0.18 China Securities Co Ltd 19 1.27 2,793 14 32 0.49 0.78 u China Construction Bank 20 1.08 2,687 26 19 1.25 -0.17 China Construction Bank 20 1.22 2,687 26 18 1.36 -0.14 q E

TOTAL 100% 249,406 2,297 100% TOTAL 100% 220,101 2,133 100% l a

APAC Equity Offerings APAC Equity Linked b o

FY 2015 FY 2014 FY 2015 FY 2014 l

Mkt Volume (USD Deal Prev Prev Mkt Mkt Volume (USD Deal Prev Prev Mkt G

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

Goldman Sachs 1 10.67 21,316 69 2 9.42 1.25 Nomura 1 11.87 2,412 12 1 15.63 -3.76

Morgan Stanley 2 9.08 18,141 100 1 9.98 -0.90 JP Morgan 2 11.16 2,267 8 7 4.62 6.54 g

UBS 3 8.20 16,390 90 3 6.34 1.86 Mizuho Financial 3 8.82 1,791 9 15 1.90 6.92 r

Nomura 4 4.38 8,750 96 8 4.76 -0.38 Credit Suisse 4 6.45 1,310 4 4 6.54 -0.09 e

JP Morgan 5 4.31 8,615 41 7 4.80 -0.49 Sumitomo Mitsui Financial 5 6.07 1,233 8 10 3.60 2.47 b CITIC Securities Co Ltd 6 3.12 6,224 40 12 2.05 1.07 Morgan Stanley 6 4.72 958 7 5 5.64 -0.92 Citi 7 3.11 6,213 47 4 6.19 -3.08 HSBC 7 4.27 867 6 8 4.52 -0.25 m

Credit Suisse 8 3.04 6,073 41 6 5.32 -2.28 Daiwa Securities 8 3.62 736 7 3 6.62 -3.00 o

Macquarie 9 2.69 5,370 40 10 3.02 -0.33 CITIC Securities Co Ltd 9 3.41 693 1 11 3.44 -0.03 o l Sumitomo Mitsui Financial 10 2.62 5,226 69 11 2.69 -0.07 Deutsche Bank 10 3.27 664 3 9 4.17 -0.90 B Deutsche Bank 11 2.55 5,085 32 5 6.09 -3.54 China International Capital 11 3.19 649 3 13 3.06 0.13 Daiwa Securities 12 2.38 4,749 52 13 1.82 0.56 Corp Mizuho Financial 13 1.83 3,649 44 14 1.56 0.27 KGI Securities Co Ltd 12 3.09 628 17 12 3.30 -0.21 China International Capital 14 1.77 3,529 26 19 1.32 0.45 Goldman Sachs 13 2.83 574 4 2 8.26 -5.43 Corp Bank of America Merrill Lynch 14 2.48 504 4 16 1.84 0.64 Bank of America Merrill Lynch 15 1.61 3,219 22 9 3.67 -2.06 Guotai Junan Securities Co Ltd 15 1.94 395 1 - - - Haitong Securities Co Ltd 16 1.59 3,173 59 23 0.82 0.77 China Securities Co Ltd 16 1.90 387 1 18 1.23 0.67 China Merchants Securities 17 1.37 2,739 27 17 1.49 -0.12 Citi 17 1.87 380 3 6 4.93 -3.06 China Construction Bank 18 1.29 2,574 24 15 1.54 -0.25 Fubon Financial Holding Co Ltd 18 1.36 277 10 34 0.46 0.90 HSBC 19 1.27 2,529 19 16 1.53 -0.26 Huatai Securities Co Ltd 19 1.16 236 2 36 0.38 0.78 China Securities Co Ltd 20 1.20 2,407 13 33 0.39 0.81 Bank of China 20 1.09 221 4 41 0.28 0.81 TOTAL 100% 199,791 1,953 100% TOTAL 100% 20,310 180 100%

17 APAC ex-Japan Equity, Equity Linked & Rights APAC ex-Japan Equity & Equity Linked FY 2015 FY 2014 FY 2015 FY 2014

Mkt Volume (USD Deal Prev Prev Mkt Mkt Volume (USD Deal Prev Prev Mkt Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) Goldman Sachs 1 9.84 20,308 66 1 9.87 -0.03 Goldman Sachs 1 10.60 18,764 63 1 9.88 0.72 UBS 2 9.39 19,381 90 4 6.58 2.81 UBS 2 8.47 14,988 77 4 6.73 1.74 Morgan Stanley 3 6.95 14,339 76 2 9.19 -2.24 Morgan Stanley 3 6.64 11,758 71 2 9.14 -2.50 Macquarie 4 4.61 9,511 47 8 3.39 1.22 JP Morgan 4 4.39 7,773 41 7 5.57 -1.18 JP Morgan 5 4.41 9,108 51 7 5.59 -1.18 Credit Suisse 5 4.17 7,383 45 5 6.60 -2.43 Credit Suisse 6 4.01 8,281 56 6 6.04 -2.03 CITIC Securities Co Ltd 6 3.91 6,918 41 10 2.67 1.24 Citi 7 3.71 7,657 53 3 6.80 -3.09 Citi 7 3.45 6,113 45 3 7.22 -3.77 CITIC Securities Co Ltd 8 3.43 7,087 44 11 2.47 0.96 Macquarie 8 3.00 5,315 39 8 3.32 -0.32 Bank of America Merrill Lynch 9 2.99 6,161 26 9 3.38 -0.39 Deutsche Bank 9 2.96 5,242 33 6 6.59 -3.63 Deutsche Bank 10 2.84 5,860 35 5 6.46 -3.62 China International Capital 10 2.36 4,178 29 12 1.84 0.52

China International Capital 11 2.02 4,178 29 12 1.72 0.30 Corp 5

Corp HSBC 11 1.92 3,396 25 11 2.27 -0.35 1

HSBC 12 1.79 3,697 29 10 2.87 -1.08 Haitong Securities Co Ltd 12 1.85 3,278 60 19 0.94 0.91 0 2

Haitong Securities Co Ltd 13 1.72 3,542 64 22 0.85 0.87 Bank of America Merrill Lynch 13 1.83 3,247 21 9 3.14 -1.31

China Securities Co Ltd 14 1.56 3,212 16 29 0.54 1.02 China Merchants Securities 14 1.67 2,951 30 13 1.73 -0.06 Y

China Merchants Securities 15 1.43 2,951 30 13 1.61 -0.18 China Securities Co Ltd 15 1.58 2,793 14 28 0.59 0.99 F

China Construction Bank 16 1.30 2,687 26 15 1.48 -0.18 China Construction Bank 16 1.52 2,687 26 14 1.64 -0.12 |

China Merchants Bank 17 1.22 2,508 15 113 0.06 1.16 Huatai Securities Co Ltd 17 1.41 2,495 15 34 0.36 1.05 y t

Huatai Securities Co Ltd 18 1.21 2,495 15 36 0.33 0.88 Nomura 18 1.27 2,254 28 35 0.36 0.91 i

Nomura 19 1.12 2,306 30 37 0.33 0.79 Guosen Securities Co Ltd 19 1.19 2,108 26 27 0.61 0.58 u Guosen Securities Co Ltd 20 1.02 2,108 26 28 0.55 0.47 Ping An Insurance Group Co 20 1.19 2,099 26 88 0.09 1.10 q E

TOTAL 100% 206,351 2,038 100% TOTAL 100% 177,046 1,874 100% l a

APAC ex-Japan Equity Offerings APAC ex-Japan Equity IPO b o

FY 2015 FY 2014 FY 2015 FY 2014 l

Mkt Volume (USD Deal Prev Prev Mkt Mkt Volume (USD Deal Prev Prev Mkt G

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

Goldman Sachs 1 11.20 18,401 61 1 9.93 1.27 UBS 1 5.17 4,033 22 7 4.65 0.52

UBS 2 9.02 14,828 75 4 7.06 1.96 Morgan Stanley 2 5.16 4,023 26 3 7.42 -2.26 g

Morgan Stanley 3 7.01 11,518 69 2 9.60 -2.59 CITIC Securities Co Ltd 3 3.93 3,061 23 10 2.59 1.34 r

CITIC Securities Co Ltd 4 3.79 6,224 40 10 2.42 1.37 Goldman Sachs 4 3.62 2,820 21 1 9.73 -6.11 e

Credit Suisse 5 3.70 6,073 41 6 6.29 -2.59 China Merchants Securities 5 3.26 2,540 24 9 2.86 0.40 b Citi 6 3.49 5,733 42 3 7.22 -3.73 Huatai Securities Co Ltd 6 2.71 2,117 10 33 0.50 2.21 JP Morgan 7 3.35 5,507 33 7 5.44 -2.09 Everbright Securities Co 7 2.66 2,075 7 67 0.15 2.51 m

Macquarie 8 3.23 5,315 39 8 3.56 -0.33 China International Capital 8 2.65 2,068 19 16 1.60 1.05 o

Deutsche Bank 9 3.09 5,085 32 5 6.74 -3.65 Corp o l China International Capital 10 2.15 3,529 26 15 1.56 0.59 Ping An Insurance Group Co 9 2.64 2,056 23 99 0.07 2.57 Corp Citi 10 2.61 2,037 21 5 6.23 -3.62 B Haitong Securities Co Ltd 11 1.93 3,173 59 19 0.97 0.96 China Construction Bank 11 2.47 1,922 17 17 1.29 1.18 Bank of America Merrill Lynch 12 1.67 2,744 17 9 3.19 -1.52 Guosen Securities Co Ltd 12 2.45 1,914 25 21 1.03 1.42 China Merchants Securities 13 1.67 2,739 27 13 1.76 -0.09 Deutsche Bank 13 2.16 1,681 17 2 7.42 -5.26 China Construction Bank 14 1.57 2,574 24 11 1.81 -0.24 China Securities Co Ltd 14 2.03 1,582 11 24 0.76 1.27 HSBC 15 1.54 2,529 19 12 1.81 -0.27 Macquarie 15 1.84 1,434 13 8 4.21 -2.37 China Securities Co Ltd 16 1.46 2,407 13 29 0.47 0.99 Bank of America Merrill Lynch 16 1.83 1,430 9 15 1.81 0.02 Huatai Securities Co Ltd 17 1.37 2,259 13 39 0.34 1.03 HSBC 17 1.77 1,383 11 13 2.43 -0.66 Nomura 18 1.37 2,254 28 36 0.36 1.01 Bank of China 18 1.73 1,350 13 11 2.59 -0.86 Ping An Insurance Group Co 19 1.28 2,099 26 78 0.10 1.18 Haitong Securities Co Ltd 19 1.71 1,332 27 18 1.20 0.51 Everbright Securities Co 20 1.26 2,075 7 81 0.09 1.17 Agricultural Bank of China Ltd 20 1.71 1,330 12 28 0.63 1.08 TOTAL 100% 164,344 1,727 100% TOTAL 100% 77,982 754 100%

18 APAC ex-Japan Equity Linked APAC ex-Japan Equity, EQL & Rights ex-CH A Shrs FY 2015 FY 2014 FY 2015 FY 2014

Mkt Volume (USD Deal Prev Prev Mkt Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) JP Morgan 1 17.84 2,267 8 4 6.70 11.14 Goldman Sachs 1 9.84 16,915 64 1 10.84 -1.00 Credit Suisse 2 10.31 1,310 4 1 9.49 0.82 UBS 2 9.54 16,404 86 5 7.03 2.51 HSBC 3 6.82 867 6 5 6.56 0.26 Morgan Stanley 3 8.31 14,284 75 2 9.99 -1.68 CITIC Securities Co Ltd 4 5.46 693 1 7 4.99 0.47 Macquarie 4 5.53 9,511 47 9 3.76 1.77 China International Capital 5 5.11 649 3 10 4.45 0.66 JP Morgan 5 5.22 8,972 50 7 6.11 -0.89 Corp Citi 6 4.35 7,485 50 3 7.33 -2.98 KGI Securities Co Ltd 6 4.95 628 17 8 4.78 0.17 Credit Suisse 7 4.19 7,211 54 6 6.11 -1.92 Bank of America Merrill Lynch 7 3.96 504 4 12 2.67 1.29 Bank of America Merrill Lynch 8 3.58 6,161 26 8 3.85 -0.27 Guotai Junan Securities Co Ltd 8 3.11 395 1 - - - Deutsche Bank 9 3.18 5,467 29 4 7.09 -3.91 China Securities Co Ltd 9 3.05 387 1 14 1.79 1.26 CITIC Securities Co Ltd 10 2.74 4,708 33 11 1.75 0.99

Citi 10 2.99 380 3 3 7.16 -4.17 HSBC 11 2.15 3,697 29 10 2.87 -0.72 5

Goldman Sachs 11 2.85 363 2 2 9.36 -6.51 China International Capital Corp 12 1.72 2,964 20 17 1.30 0.42 1

Fubon Financial Holding Co 12 2.18 277 10 31 0.67 1.51 Haitong Securities Co Ltd 13 1.65 2,830 52 25 0.61 1.04 0

Ltd 2 China Construction Bank 14 1.56 2,687 26 12 1.68 -0.12 Morgan Stanley 13 1.89 240 2 9 4.69 -2.80 China Merchants Bank 15 1.46 2,508 15 91 0.07 1.39 Y Huatai Securities Co Ltd 14 1.86 236 2 33 0.55 1.31 Nomura 16 1.34 2,306 30 33 0.37 0.97 F

Bank of China 15 1.74 221 4 38 0.41 1.33 China Merchants Securities 17 1.29 2,218 19 18 1.02 0.27 |

CIMB 16 1.74 221 3 26 0.92 0.82 NH Investment & Securities Co 18 1.19 2,053 28 - - - y t

China Merchants Securities 17 1.67 213 3 16 1.46 0.21 Ltd i

Yuanta Securities Co Ltd 18 1.64 209 12 29 0.79 0.85 Kingston Financial Group Ltd 19 1.18 2,026 76 28 0.53 0.65 u Guosen Securities Co Ltd 19 1.52 193 1 36 0.44 1.08 Agricultural Bank of China Ltd 20 1.05 1,808 16 36 0.35 0.70 q

Barclays 20 1.44 183 3 17 1.40 0.04 E TOTAL 100% 171,915 1,802 100% l TOTAL 100% 12,702 147 100% a b o l G

g r e b m o o l B

19 Australia/New Zealand Equity, EQL & Rights Australia/New Zealand Equity & Rights Offerings FY 2015 FY 2014 FY 2015 FY 2014

Mkt Volume (USD Deal Prev Prev Mkt Mkt Volume (USD Deal Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) UBS 1 21.68 8,893 47 2 16.41 5.27 UBS 1 21.85 8,893 47 2 16.42 5.43 Macquarie 2 19.97 8,193 39 3 16.23 3.74 Macquarie 2 20.13 8,193 39 3 16.24 3.89 Goldman Sachs 3 16.38 6,717 16 1 17.21 -0.83 Goldman Sachs 3 16.50 6,717 16 1 17.22 -0.72 Morgan Stanley 4 8.08 3,315 14 6 8.29 -0.21 Morgan Stanley 4 8.15 3,315 14 6 8.29 -0.14 Bank of America Merrill Lynch 5 7.64 3,133 5 7 4.81 2.83 Bank of America Merrill Lynch 5 7.28 2,963 4 7 4.81 2.47 Deutsche Bank 6 6.11 2,506 12 4 10.07 -3.96 Deutsche Bank 6 6.16 2,506 12 4 10.07 -3.91 Citi 7 5.57 2,284 11 5 8.80 -3.23 Citi 7 5.61 2,284 11 5 8.81 -3.20 JP Morgan 8 3.66 1,503 13 14 0.91 2.75 JP Morgan 8 3.32 1,353 12 14 0.91 2.41 Credit Suisse 9 1.67 686 9 8 2.90 -1.23 Credit Suisse 9 1.68 686 9 8 2.90 -1.22 Morgans 10 1.22 499 27 10 1.52 -0.30 Morgans 10 1.23 499 27 10 1.52 -0.29

Bell Potter Securities Limited 11 1.14 468 27 16 0.80 0.34 Bell Potter Securities Limited 11 1.15 468 27 16 0.80 0.35 5

Commonwealth Bank 12 0.78 321 10 12 1.33 -0.55 Commonwealth Bank 12 0.79 321 10 12 1.33 -0.54 1

Australia Australia 0 2

Foster Stockbroking Pty Ltd 13 0.52 213 17 27 0.24 0.28 Foster Stockbroking Pty Ltd 13 0.52 213 17 27 0.24 0.28

RBC Capital Markets 14 0.47 193 5 26 0.25 0.22 RBC Capital Markets 14 0.47 193 5 26 0.25 0.22 Y

Ord Minnett Ltd 15 0.41 166 5 24 0.30 0.11 Ord Minnett Ltd 15 0.41 166 5 24 0.30 0.11 F

Petra Capital Pty Ltd 16 0.38 156 4 20 0.40 -0.02 Petra Capital Pty Ltd 16 0.38 156 4 20 0.40 -0.02 |

ORIX Corp 17 0.36 148 15 28 0.20 0.16 ORIX Corp 17 0.36 148 15 28 0.20 0.16 y t

Forsyth Barr Ltd 18 0.28 113 4 21 0.39 -0.11 Forsyth Barr Ltd 18 0.28 113 4 21 0.39 -0.11 i

Taylor Collison Ltd 19 0.27 110 12 17 0.63 -0.36 Taylor Collison Ltd 19 0.27 110 12 17 0.64 -0.37 u Baillieu Holst Ltd 20 0.26 107 6 23 0.30 -0.04 Baillieu Holst Ltd 20 0.26 107 6 23 0.30 -0.04 q E

TOTAL 100% 41,022 375 100% TOTAL 100% 40,701 373 100% l a

China Equity, Equity Linked & Rights China Equity IPO b o

FY 2015 FY 2014 FY 2015 FY 2014 l

Mkt Volume (CNY Deal Prev Prev Mkt Mkt Share Mkt Volume (CNY Deal Prev Prev Mkt Mkt Share G

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

CITIC Securities Co Ltd 1 11.09 90,304 43 2 7.80 3.29 Everbright Securities Co 1 8.33 12,988 7 22 1.17 7.16

Guotai Junan Securities Co Ltd 2 7.36 59,930 40 5 5.13 2.23 Ping An Insurance Group Co 2 7.68 11,985 12 - - - g

Southwest Securities Co Ltd 3 5.80 47,230 36 7 4.43 1.37 Huatai Securities Co Ltd 3 7.47 11,651 9 7 3.87 3.60 r

China Securities Co Ltd 4 5.37 43,743 42 1 9.04 -3.67 UBS 4 6.47 10,086 3 8 3.39 3.08 e

China Merchants Securities 5 4.61 37,525 35 11 3.15 1.46 Guosen Securities Co Ltd 5 6.35 9,904 21 3 7.87 -1.52 b UBS 6 4.08 33,248 9 17 2.07 2.01 CITIC Securities Co Ltd 6 6.34 9,896 9 4 7.69 -1.35 Haitong Securities Co Ltd 7 4.00 32,595 34 4 5.93 -1.93 Southwest Securities Co Ltd 7 4.90 7,649 6 18 1.48 3.42 m

Huatai Securities Co Ltd 8 3.82 31,076 37 8 4.30 -0.48 China Securities Co Ltd 8 4.06 6,336 6 5 5.20 -1.14 o

Goldman Sachs 9 2.91 23,731 4 21 1.60 1.31 China Lion Securities Co Ltd 9 3.92 6,108 10 24 1.10 2.82 o l Guosen Securities Co Ltd 10 2.84 23,119 37 6 4.99 -2.15 Huarong Securities Co Ltd 10 3.85 6,012 1 - - - B China International Capital Corp 11 2.78 22,626 13 10 3.37 -0.59 China Investment Corp 10 3.85 6,012 1 12 1.97 1.88 Deutsche Bank 12 2.54 20,682 10 22 1.55 0.99 GF Securities 12 3.01 4,687 14 1 17.92 -14.91 Ping An Insurance Group Co 13 2.46 20,035 14 69 0.03 2.43 China Merchants Securities 13 2.94 4,583 11 2 9.25 -6.31 GF Securities 14 2.32 18,916 41 3 5.93 -3.61 Sinolink Securities Co Ltd 14 2.86 4,465 10 23 1.13 1.73 Sinolink Securities Co Ltd 15 2.28 18,589 25 20 1.76 0.52 China International Capital Corp 15 2.86 4,459 7 9 2.99 -0.13 China Investment Securities Co 16 1.77 14,438 9 49 0.19 1.58 Guotai Junan Securities Co Ltd 16 2.05 3,196 4 6 4.34 -2.29 Ltd Shenwan Hongyuan Group Co Ltd 17 1.93 3,014 6 34 0.62 1.31 Everbright Securities Co 17 1.73 14,074 10 50 0.18 1.55 Haitong Securities Co Ltd 18 1.92 3,000 9 11 2.29 -0.37 Shenwan Hongyuan Group Co Ltd 18 1.58 12,845 15 14 2.32 -0.74 China Investment Securities Co 19 1.57 2,448 5 43 0.25 1.32 Industrial Securities Co Ltd 19 1.48 12,086 19 27 1.16 0.32 Ltd Essence Securities Co Ltd 20 1.35 11,030 15 12 2.83 -1.48 Industrial Securities Co Ltd 20 1.47 2,296 5 36 0.62 0.85 TOTAL 100% 814,555 678 100% TOTAL 100% 155,982 218 100%

20 Hong Kong Equity & Rights Offerings Hong Kong Equity Offerings FY 2015 FY 2014 FY 2015 FY 2014

Mkt Volume (USD Deal Prev Prev Mkt Mkt Volume (USD Deal Prev Prev Mkt Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) Morgan Stanley 1 10.64 7,917 44 1 17.26 -6.62 Morgan Stanley 1 11.31 7,917 44 1 18.50 -7.19 UBS 2 6.78 5,045 22 4 5.84 0.94 UBS 2 7.21 5,045 22 3 6.37 0.84 Goldman Sachs 3 6.12 4,553 31 2 8.91 -2.79 Goldman Sachs 3 6.50 4,553 31 2 9.00 -2.50 CITIC Securities Co Ltd 4 5.67 4,215 25 9 3.47 2.20 CITIC Securities Co Ltd 4 6.01 4,205 24 9 3.59 2.42 Credit Suisse 5 4.15 3,087 16 12 2.53 1.62 Credit Suisse 5 4.39 3,076 15 12 2.76 1.63 Haitong Securities Co Ltd 6 3.80 2,830 52 15 1.88 1.92 China International Capital 6 4.02 2,814 19 7 4.34 -0.32 China International Capital 7 3.78 2,814 19 7 4.20 -0.42 Corp Corp JP Morgan 7 3.73 2,615 11 17 1.69 2.04 JP Morgan 8 3.60 2,674 12 14 2.07 1.53 Haitong Securities Co Ltd 8 3.70 2,591 49 14 2.06 1.64 China Construction Bank 9 3.46 2,574 24 5 5.45 -1.99 China Construction Bank 9 3.68 2,574 24 4 5.94 -2.26

China Merchants Bank 10 3.37 2,508 15 40 0.24 3.13 HSBC 10 3.26 2,286 14 5 5.01 -1.75 5

HSBC 11 3.07 2,286 14 3 6.39 -3.32 China Merchants Securities 11 2.87 2,006 16 10 3.35 -0.48 1

Kingston Financial Group Ltd 12 2.70 2,010 75 18 1.71 0.99 Citi 12 2.76 1,931 13 13 2.21 0.55 0 2

China Merchants Securities 13 2.70 2,006 16 11 3.26 -0.56 Agricultural Bank of China Ltd 13 2.58 1,808 16 20 1.25 1.33

Citi 14 2.60 1,931 13 13 2.37 0.23 China Merchants Bank 14 2.50 1,753 14 39 0.26 2.24 Y

Agricultural Bank of China Ltd 15 2.43 1,808 16 22 1.15 1.28 Bank of China 15 2.15 1,502 16 6 4.63 -2.48 F

China Securities Co Ltd 16 2.08 1,547 8 51 0.17 1.91 Nomura 16 2.09 1,461 15 25 0.86 1.23 |

Bank of China 17 2.07 1,542 17 6 4.43 -2.36 Kingston Financial Group Ltd 17 2.05 1,436 57 19 1.34 0.71 y t

Nomura 18 2.02 1,501 16 26 0.79 1.23 China Securities Co Ltd 18 1.98 1,385 7 49 0.19 1.79 i

Macquarie 19 1.66 1,234 3 25 0.81 0.85 Macquarie 19 1.76 1,234 3 24 0.89 0.87 u Bank of Communications 20 1.61 1,200 16 23 0.99 0.62 Bank of Communications 20 1.71 1,200 16 22 1.07 0.64 q E

TOTAL 100% 74,381 573 100% TOTAL 100% 70,012 507 100% l a

India Equity & Rights Offering Indonesia Equity & Rights Offering b o

FY 2015 FY 2014 FY 2015 FY 2014 l

Mkt Volume (INR Deal Prev Prev Mkt Mkt Share Mkt Volume (IDR Deal Prev Prev Mkt Mkt Share G

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

Goldman Sachs 1 23.29 257,067 5 11 3.69 19.60 Mandiri Sekuritas PT 1 14.61 5,375,593 5 7 3.52 11.09

Kotak Mahindra Bank Ltd 2 10.21 112,625 18 5 6.27 3.94 UBS 2 13.05 4,802,250 2 12 2.82 10.23 g

Citi 3 10.10 111,497 15 3 10.78 -0.68 Credit Suisse 3 12.87 4,734,718 3 4 8.21 4.66 r

JM Financial Ltd 4 9.13 100,795 13 7 5.20 3.93 Citi 4 11.61 4,271,262 2 18 0.89 10.72 e

Bank of America Merrill Lynch 5 5.98 65,988 7 8 4.36 1.62 JP Morgan 5 11.06 4,068,830 1 3 10.44 0.62 b Axis Bank Ltd 6 5.34 58,903 20 6 5.91 -0.57 Goldman Sachs 5 11.06 4,068,830 1 1 20.62 -9.56 Deutsche Bank 7 4.73 52,232 3 1 17.73 -13.00 Bahana Securities 7 5.41 1,988,913 6 11 3.03 2.38 m

Credit Suisse 8 4.70 51,836 6 16 1.52 3.18 Indo Premier Securities 8 4.65 1,712,033 3 21 0.72 3.93 o

State Bank of India 9 2.70 29,762 9 14 2.06 0.64 Danareksa Sekuritas PT 9 3.55 1,306,763 4 2 18.21 -14.66 o l Morgan Stanley 10 2.58 28,431 6 15 1.79 0.79 CITIC Securities Co Ltd 10 1.99 731,417 3 14 1.89 0.10 B JP Morgan 11 2.50 27,571 7 2 10.84 -8.34 CIMB 11 1.52 558,122 2 6 3.56 -2.04 ICICI 12 2.39 26,350 13 12 3.08 -0.69 Macquarie 12 1.49 549,660 2 - - - Nomura 13 2.21 24,347 3 - - - RHB 13 1.11 407,812 2 17 1.26 -0.15 Edelweiss Financial Services 14 2.10 23,227 11 17 1.08 1.02 Sucorinvest Central Gani 14 0.83 307,083 1 15 1.55 -0.72 Ltd Bank Negara Indonesia (Persero) Tbk 14 0.83 307,083 1 10 3.06 -2.23 CITIC Securities Co Ltd 15 1.59 17,588 3 4 6.78 -5.19 PT UBS 16 1.53 16,861 3 9 3.93 -2.40 DBS Group 14 0.83 307,083 1 - - - Barclays 17 1.46 16,153 4 - - - Deutsche Bank 17 0.79 289,523 1 18 0.89 -0.10 Jefferies 18 1.07 11,860 5 - - - Minna Padi Investama PT 18 0.64 233,920 2 - - - HSBC 19 1.06 11,712 3 10 3.76 -2.70 Nomura 19 0.55 202,432 1 - - - IDFC Capital Ltd 20 0.90 9,918 7 19 1.00 -0.10 Sinarmas Securities PT 19 0.55 202,432 1 16 1.46 -0.91 TOTAL 100% 1,103,598 126 100% TOTAL 100% 36,784,899 21 100%

21 Japan Equity & Equity Linked (Fiscal Year) Japan Equity Offerings (Fiscal Year) FY 2015 FY 2014 FY 2015 FY 2014

Mkt Firm Rank Mkt Share(%) Volume (JPY Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Share(%) Volume (JPY Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Morgan Stanley 1 19.69 723,341 26 5 8.33 11.36 Morgan Stanley 1 18.89 800,841 30 5 7.65 11.24 Nomura 2 15.43 566,986 50 1 30.23 -14.80 Nomura 2 15.55 659,486 55 1 35.39 -19.84 Daiwa Securities 3 13.57 498,447 36 3 12.96 0.61 Sumitomo Mitsui Financial 3 14.87 630,595 57 2 17.18 -2.31 Sumitomo Mitsui Financial 4 13.19 484,595 50 2 19.31 -6.12 Daiwa Securities 4 13.35 565,947 41 3 14.76 -1.41 Mizuho Financial 5 10.23 375,865 31 4 11.78 -1.55 Mizuho Financial 5 12.99 550,865 36 4 9.61 3.38 JP Morgan 6 10.22 375,671 8 9 1.84 8.38 JP Morgan 6 8.86 375,671 8 10 1.36 7.50 Goldman Sachs 7 9.61 352,915 8 6 5.68 3.93 Goldman Sachs 7 8.50 360,415 9 6 6.03 2.47 UBS 8 4.53 166,566 13 8 2.35 2.18 UBS 8 3.93 166,566 13 9 1.74 2.19 Citi 9 1.57 57,844 5 11 0.73 0.84 Citi 9 1.36 57,844 5 11 0.54 0.82 Bank of America Merrill Lynch 10 1.10 40,421 3 7 4.45 -3.35 Bank of America Merrill 10 0.95 40,421 3 7 3.29 -2.34 Ichiyoshi Securities Co Ltd 11 0.41 15,180 7 13 0.20 0.21

Lynch SBI Holdings Inc/Japan 12 0.22 8,082 7 12 0.45 -0.23 5

Ichiyoshi Securities Co Ltd 11 0.36 15,180 7 13 0.15 0.21 Macquarie 13 0.18 6,756 1 - - - 1 0 SBI Holdings Inc/Japan 12 0.19 8,082 7 12 0.33 -0.14 Tokai Tokyo Securities Co Ltd 14 0.02 748 1 15 0.07 -0.05 2

Macquarie 13 0.16 6,756 1 - - - Toyo Securities Co Ltd 15 0.01 363 1 17 0.02 -0.01

Tokai Tokyo Securities Co Ltd 14 0.02 748 1 15 0.05 -0.03 Y Okasan Securities Group Inc 16 0.01 248 2 - - -

Toyo Securities Co Ltd 15 0.01 363 1 17 0.02 -0.01 HS Securities Co Ltd 17 0.00 84 1 16 0.06 -0.06 F

Okasan Securities Group Inc 16 0.01 248 2 - - - |

------

HS Securities Co Ltd 17 0.00 84 1 16 0.04 -0.04 ------y t ------i u ------TOTAL 100% 3,674,113 166 100% ------q E

TOTAL 100% 4,240,113 184 100% l a

Japan Equity IPO (Fiscal Year) Korea Equity Offerings b o

FY 2015 FY 2014 FY 2015 FY 2014 l

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

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

Morgan Stanley 1 16.22 287,510 9 2 16.09 0.13

NH Investment & Securities Co Ltd 1 24.82 2,337,897 28 - - - Nomura 2 15.98 283,155 23 1 37.17 -21.19 Morgan Stanley 2 12.37 1,165,389 3 16 0.73 11.64

Sumitomo Mitsui Financial 3 13.30 235,721 21 3 14.22 -0.92 g

Daiwa Securities 4 13.22 234,316 13 5 6.76 6.46 Daewoo Securities Co Ltd 3 10.06 947,701 16 3 10.26 -0.20 r

Goldman Sachs 5 12.41 219,855 4 7 3.67 8.74 Citi 4 8.25 777,322 3 1 15.75 -7.50 e

JP Morgan 6 12.17 215,749 4 9 0.85 11.32 Korea Investment & Securities Co 5 6.92 651,782 14 8 6.46 0.46 b Mizuho Financial 7 10.40 184,386 12 4 13.07 -2.67 Credit Suisse 6 5.96 561,573 4 5 8.20 -2.24 m UBS 8 3.14 55,713 4 8 1.68 1.46 Samsung Securities Co Ltd 7 3.62 341,108 7 6 8.12 -4.50 o Citi 9 2.70 47,875 3 12 0.36 2.34 JP Morgan 8 3.48 327,600 1 4 9.51 -6.03

KB Investment & Securities Co Ltd 9 3.26 306,844 7 13 1.14 2.12 o SBI Holdings Inc/Japan 10 0.33 5,779 5 10 0.52 -0.19 l Ichiyoshi Securities Co Ltd 11 0.06 985 2 11 0.49 -0.43 Hyundai Securities 10 2.39 225,350 4 15 0.77 1.62 B Tokai Tokyo Securities Co 12 0.04 748 1 13 0.19 -0.15 Daishin Securities 11 2.31 217,345 8 24 0.25 2.06 Ltd Hana Financial Group Inc 12 2.26 212,801 8 9 5.61 -3.35 Okasan Securities Group Inc 13 0.01 248 2 - - - Deutsche Bank 13 2.05 193,017 2 - - - HS Securities Co Ltd 14 0.00 84 1 14 0.10 -0.10 Kiwoom Securities Co Ltd 14 1.41 132,891 10 20 0.38 1.03 ------Nomura 15 1.27 119,252 3 17 0.62 0.65 ------Daiwa Securities 16 1.20 113,500 1 ------Hanwha Investment & Securities Co 17 1.16 109,547 5 ------Ltd ------Shinhan Financial Group Co Ltd 18 1.15 108,148 5 31 0.08 1.07 ------Dongbu Securities 19 0.78 73,810 4 27 0.15 0.63 TOTAL 100% 1,772,122 73 100% Mirae Asset Securities 20 0.75 70,930 6 12 1.17 -0.42 TOTAL 100% 9,421,266 144 100%

22 Malaysia Equity & Rights Offering Singapore Equity & Rights Offering FY 2015 FY 2014 FY 2015 FY 2014

Mkt Volume (MYR Deal Prev Prev Mkt Mkt Share Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) CIMB 1 24.18 3,488 21 1 15.73 8.45 DBS Group 1 38.13 789 15 2 12.14 25.99 Maybank 2 15.04 2,169 19 2 15.71 -0.67 Credit Suisse 2 7.62 158 2 7 4.60 3.02 RHB 3 12.90 1,860 21 4 10.85 2.05 JP Morgan 3 7.05 146 1 1 16.00 -8.95 Credit Suisse 4 9.02 1,302 3 3 12.43 -3.41 UBS 4 4.93 102 1 18 1.09 3.84 JP Morgan 5 5.92 853 4 12 2.63 3.29 HSBC 5 4.80 99 2 5 11.04 -6.24 AmInvestment Bank Bhd 6 4.01 579 14 5 8.03 -4.02 Citi 6 3.68 76 2 3 11.50 -7.82 Public Bank Berhad 7 3.62 522 8 17 0.73 2.89 Bank of Philippine Islands 7 3.63 75 1 - - - Affin Hwang Capital 8 3.44 496 7 9 3.45 -0.01 PrimePartners Corporate Finance Pte 8 3.44 71 5 11 2.02 1.42 HSBC 9 3.26 470 2 - - - Ltd Hong Leong Investment Bank Bhd 10 3.07 443 7 6 6.45 -3.38 Morgan Stanley 9 3.11 64 1 16 1.20 1.91

Kenanga Investment Bank Bhd 11 2.65 382 11 10 3.04 -0.39 CITIC Securities Co Ltd 9 3.11 64 1 24 0.57 2.54 5

Nomura 12 2.33 336 2 - - - Bank of America Merrill Lynch 11 3.10 64 1 4 11.21 -8.11 1

Bank of America Merrill Lynch 13 1.99 286 1 7 5.49 -3.50 United Overseas Bank 12 3.06 63 3 14 1.41 1.65 0 2

Deutsche Bank 13 1.99 286 1 - - - Oversea-Chinese Banking Corp 13 2.53 52 3 10 2.63 -0.10

Morgan Stanley 13 1.99 286 1 - - - Maybank 14 1.92 40 2 21 0.93 0.99 Y

UBS 16 1.48 214 1 8 4.71 -3.23 Barclays 15 1.66 34 1 20 0.94 0.72 F

M&A Securities Sdn Bhd 17 0.99 142 11 14 1.15 -0.16 Religare Capital Markets 16 1.63 34 1 22 0.73 0.90 |

MIDF Amanah Investment Bank 18 0.80 115 5 23 0.20 0.60 CIMB 17 1.49 31 2 13 1.45 0.04 y t

Bhd RHB 18 1.39 29 4 15 1.27 0.12 i

TA Securities Holdings Bhd 19 0.59 86 17 19 0.60 -0.01 UOB Kay Hian 19 1.28 26 4 12 1.69 -0.41 u Alliance Bank Malaysia Bhd 20 0.58 84 6 22 0.39 0.19 Standard Chartered Bank 20 0.79 16 1 6 5.04 -4.25 q E

TOTAL 100% 14,426 130 100% TOTAL 100% 2,068 43 100% l a

Taiwan Equity & Equity Linked Thailand Equity & Rights Offering b o

FY 2015 FY 2014 FY 2015 FY 2014 l

Mkt Volume (TWD Deal Prev Prev Mkt Mkt Share Mkt Volume (THB Deal G

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

KGI Securities Co Ltd 1 19.93 26,201 34 1 21.08 -1.15 Bangkok Bank PCL 1 22.35 37,469 7 3 13.71 8.64

Fubon Financial Holding Co Ltd 2 13.95 18,348 18 4 7.26 6.69 Morgan Stanley 2 17.69 29,660 2 - - - g

Yuanta Securities Co Ltd 3 12.57 16,531 29 6 5.37 7.20 Siam Commercial Bank PCL 3 14.99 25,125 4 5 9.89 5.10 r

Masterlink Securities 4 9.80 12,880 10 21 0.74 9.06 JP Morgan 4 13.21 22,151 1 - - - e

Grand Fortune Securities Co 5 4.76 6,264 10 7 5.21 -0.45 Maybank 5 5.39 9,033 6 2 14.50 -9.11 b Sinopac Securities Corp 6 4.41 5,795 17 9 4.69 -0.28 Kasikornbank PCL 6 4.62 7,749 4 4 10.44 -5.82 Goldman Sachs 7 4.26 5,601 3 3 7.30 -3.04 Finansa Securities Ltd 7 3.30 5,531 2 - - - m

UBS 8 3.81 5,009 1 2 12.32 -8.51 KT ZMICO Securities Co Ltd 8 3.29 5,516 2 6 5.03 -1.74 o

CTBC Financial Holding Co Ltd 9 3.34 4,394 11 15 1.80 1.54 Credit Suisse 9 2.18 3,661 1 9 3.08 -0.90 o l Mega Securities Co Ltd 10 3.30 4,333 14 19 0.83 2.47 Tisco Securities Co Ltd 10 2.01 3,371 1 - - - B Cathay Securities Co Ltd 11 3.29 4,321 15 12 3.35 -0.06 Nomura 11 1.47 2,468 4 12 1.78 -0.31 Taishin Financial Holding Co Ltd 12 2.56 3,368 11 8 4.82 -2.26 Asia Plus Securities 12 1.46 2,445 2 13 1.46 0.00 Barclays 13 2.45 3,225 1 20 0.79 1.66 Phatra Securities PCL 13 1.29 2,160 1 21 0.37 0.92 Capital Securities Corp 14 2.45 3,222 8 13 2.37 0.08 Bank of America Merrill Lynch 13 1.29 2,160 1 21 0.37 0.92 Taiwan Cooperative Financial Holding 15 2.00 2,625 12 17 0.90 1.10 CIMB 15 1.07 1,800 3 8 3.24 -2.17 Co Ltd RHB 16 0.83 1,399 3 16 0.93 -0.10 Concord Securities 16 1.94 2,548 9 16 1.18 0.76 Finansia Syrus Securities 17 0.77 1,288 3 7 3.32 -2.55 President Securities 17 1.35 1,781 5 22 0.74 0.61 PCL First Securities Inc 18 1.26 1,657 7 26 0.22 1.04 Krung Thai Bank 18 0.60 1,010 1 - - - Horizon Securities Co Ltd 19 0.55 721 3 10 3.70 -3.15 KGI Securities Co Ltd 19 0.60 1,000 1 - - - Bank Taiwan Securities 20 0.52 684 2 - - - Country Group Securities PCL 20 0.54 907 1 26 0.16 0.38 TOTAL 100% 131,478 232 100% TOTAL 100% 167,653 44 100%

23 Bloomberg Equity & Equity Linked - League Tables Criteria

General Guidelines

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

Equities

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

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

Equities-Linked

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

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

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

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