GLOBAL CAPITAL MARKETS LEAGUE TABLES

Q1 2016 Q1 2016

MANAGER RANKINGS GLOBAL CAPITAL MARKETS

The Bloomberg Capital Markets Tables represent the top arrangers, bookrunners and advisors across a broad array of deal types including loans, bonds, equity and M&A transactions; according to Bloomberg standards.

LEAG for a full range of league tables

MA for a full range of merger & acquisition tables

NI LEAG CRL or http://www.bloomberg.com/ for a full range of market-specific league table publications

Due to the dynamic nature of the Professional Service product, league table rankings may vary between this release and data found on the Bloomberg Professional Service.

DATA SUBMISSIONS AND QUERIES

Contact Phone Email Americas Paul Bandong +1 609 279 5187 [email protected] EMEA Dustin Jooste +44 20 3525 8902 [email protected] Asia-Pacific Hung Truong +65 6212 1326 [email protected]

© 2015 Bloomberg Finance L.P. All rights reserved. Corporate & Financial Bonds: Industry Breakdown Global Fixed Income Review 17%

5% Corporate & Financial Bonds 6% 57% 7% Q1 2016 Q1 2015 7% Mkt Volume (USD Deal Prev Prev Mkt Mkt Share

Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) 6 1

JP Morgan 1 5.59 60,536 326 1 6.96 -1.37 0

Financials 57% 2 Citi 2 5.34 57,872 331 2 5.56 -0.22 of America 3 5.20 56,369 315 3 5.33 -0.13 Consumer Staples 7% 1 Q

Lynch Consumer Discretionary 7% |

Goldman Sachs 4 4.68 50,725 229 8 4.00 0.68 Industrials 6% s t

Barclays 5 4.13 44,739 233 5 4.73 -0.60 Energy 5% e k 6 4.09 44,342 233 4 4.90 -0.81 Others 17% r a HSBC 7 3.90 42,212 225 7 4.26 -0.36 M

Morgan Stanley 8 3.67 39,819 204 6 4.58 -0.91 l a t 9 2.93 31,701 154 10 2.73 0.20 i

Corporate & Financial Bonds: Manager Rankings p

BNP Paribas 10 2.90 31,406 170 11 2.51 0.39 History a C

Societe Generale 11 2.12 23,007 128 15 1.76 0.36 l

UBS 12 2.07 22,459 135 13 2.43 -0.36 2016 2015 2014 a

10 b

RBC Capital Markets 13 1.80 19,454 116 12 2.48 -0.68 o l

8 Credit Agricole CIB 14 1.73 18,761 111 14 2.16 -0.43 G

)

%

(

Credit Suisse 15 1.72 18,599 132 9 3.88 -2.16

e

r 6

a h

Banco Santander 16 1.44 15,649 79 21 1.08 0.36 S

t g e k

4 r r

Mizuho Financial 17 1.43 15,501 156 17 1.30 0.13 a M e 18 1.36 14,707 55 50 0.39 0.97 2 b Co Ltd 0 m i

n t h s s k o TD Securities 19 1.30 14,081 72 26 0.72 0.58 a i c h y n rg C n c la a o y a c B L S r e

M l a o il n h 20 1.28 13,884 85 19 1.27 0.01 P rr a B c J e m ts l M ld u a o e c G D ri TOTAL 100% 1,083,715 3,683 100% e B m A f o k n a B

1 Corporate Bonds Financial Bonds Q1 2016 Q1 2015 Q1 2016 Q1 2015

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(%) Bank of America Merrill 1 7.22 33,984 194 2 7.14 0.08 1 4.84 29,663 112 7 3.80 1.04 Lynch Citi 2 4.82 29,567 143 2 4.86 -0.04 JP Morgan 2 7.02 33,053 184 1 8.29 -1.27 HSBC 3 4.62 28,348 139 6 4.02 0.60 Citi 3 6.01 28,305 188 3 6.34 -0.33 JP Morgan 4 4.48 27,483 142 1 5.78 -1.30 Deutsche Bank 4 5.31 25,001 131 6 5.06 0.25 5 4.42 27,095 97 5 4.09 0.33 Barclays 5 4.75 22,350 128 4 5.97 -1.22 Barclays 6 3.65 22,389 105 9 3.63 0.02 Goldman Sachs 6 4.47 21,062 117 8 4.21 0.26 Bank of America Merrill Lynch 7 3.65 22,386 121 8 3.71 -0.06

BNP Paribas 7 3.53 16,623 100 11 3.05 0.48 Deutsche Bank 8 3.15 19,341 102 3 4.76 -1.61 6 1 Wells Fargo 8 3.06 14,387 93 9 3.64 -0.58 Wells Fargo 9 2.82 17,315 61 15 1.92 0.90 0 HSBC 9 2.95 13,864 86 7 4.53 -1.58 UBS 10 2.77 16,958 92 10 3.59 -0.82 2 Mizuho Financial 10 2.90 13,647 122 14 2.27 0.63 BNP Paribas 11 2.41 14,783 70 13 2.03 0.38 1 Morgan Stanley 11 2.70 12,723 107 5 5.13 -2.43 Credit Agricole CIB 12 2.21 13,572 77 11 2.71 -0.50

Societe Generale 12 2.42 11,382 70 15 1.99 0.43 Societe Generale 13 1.90 11,625 58 16 1.55 0.35 Q

Banco Santander 13 2.00 9,433 46 30 0.71 1.29 | Guotai Junan Securities Co Ltd 14 1.85 11,326 30 38 0.56 1.29

RBC Capital Markets 14 1.92 9,015 65 13 2.37 -0.45 15 1.72 10,556 73 4 4.15 -2.43 s t Mitsubishi UFJ Financial 15 1.78 8,378 59 16 1.89 -0.11

RBC Capital Markets 16 1.70 10,439 51 12 2.57 -0.87 e

ING Groep 16 1.72 8,087 39 27 0.76 0.96 17 1.55 9,491 42 14 2.02 -0.47 k r Credit Suisse 17 1.71 8,043 59 10 3.58 -1.87 Landesbank Baden- 18 1.43 8,796 48 20 1.05 0.38 a Sumitomo Mitsui Financial 18 1.64 7,739 66 21 0.93 0.71 Wuerttemberg

UniCredit 19 1.58 7,447 35 19 1.08 0.50 TD Securities 19 1.30 7,995 34 27 0.87 0.43 M

l RBS 20 1.42 6,706 41 12 2.40 -0.98 CITIC Securities Co Ltd 20 1.29 7,917 33 21 0.93 0.36 a t

TOTAL 100% 470,686 1,304 100% TOTAL 100% 613,029 2,379 100% i p

Syndicated Government Bonds International Bonds a

Q1 2016 Q1 2015 Q1 2016 Q1 2015 C

l

Mkt Volume (USD Deal Prev Prev Mkt Mkt Share Mkt Volume (USD Deal Prev Prev Mkt Mkt Share a

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

Barclays 1 10.44 42,921 112 1 9.95 0.49 JP Morgan 1 7.56 81,246 394 1 7.66 -0.10 l JP Morgan 2 7.64 31,397 134 5 5.36 2.28 Barclays 2 7.48 80,317 303 2 7.39 0.09 G

HSBC 3 7.19 29,545 143 2 6.51 0.68 Citi 3 6.43 69,119 354 3 6.59 -0.16

Citi 4 5.78 23,770 100 3 6.11 -0.33 HSBC 4 6.39 68,609 322 5 6.02 0.37

Goldman Sachs 5 5.47 22,489 60 6 4.31 1.16 Bank of America Merrill Lynch 5 6.33 68,012 323 6 5.18 1.15 TD Securities 6 5.01 20,574 104 9 3.96 1.05 Goldman Sachs 6 6.32 67,880 242 7 4.83 1.49 g r BNP Paribas 7 4.93 20,265 56 7 4.01 0.92 Deutsche Bank 7 5.11 54,892 254 4 6.23 -1.12 e Bank of America Merrill Lynch 8 4.92 20,235 96 8 3.98 0.94 BNP Paribas 8 4.74 50,924 215 10 3.65 1.09 b Deutsche Bank 9 4.29 17,651 74 4 5.68 -1.39 Morgan Stanley 9 3.41 36,637 131 8 4.62 -1.21

Morgan Stanley 10 2.85 11,706 55 12 3.14 -0.29 Societe Generale 10 3.13 33,658 165 12 2.49 0.64 m

Societe Generale 11 2.59 10,635 33 16 2.07 0.52 Credit Agricole CIB 11 2.53 27,225 155 11 3.28 -0.75 o

Nomura 12 2.57 10,569 79 13 2.96 -0.39 TD Securities 12 2.29 24,565 94 19 1.31 0.98 o l UniCredit 13 2.24 9,215 46 10 3.88 -1.64 Wells Fargo 13 2.26 24,267 111 15 2.13 0.13

Credit Agricole CIB 14 2.16 8,890 52 11 3.31 -1.15 UniCredit 14 2.14 22,938 130 13 2.37 -0.23 B Landesbank Baden- 15 1.93 7,949 32 30 0.72 1.21 UBS 15 1.82 19,568 102 17 1.96 -0.14 Wuerttemberg Credit Suisse 16 1.77 18,998 119 9 3.79 -2.02 RBC Capital Markets 16 1.61 6,616 42 14 2.72 -1.11 Banco Santander 17 1.77 18,993 78 20 1.30 0.47 Scotiabank 17 1.50 6,175 22 25 1.03 0.47 Landesbank Baden- 18 1.66 17,838 86 27 0.82 0.84 BMO Capital Markets 18 1.47 6,028 23 22 1.21 0.26 Wuerttemberg RBS 19 1.37 5,623 22 15 2.32 -0.95 RBS 19 1.54 16,581 77 14 2.29 -0.75 Wells Fargo 20 1.32 5,439 75 19 1.57 -0.25 RBC Capital Markets 20 1.49 16,049 100 16 2.02 -0.53 TOTAL 100% 411,010 1,276 100% TOTAL 100% 1,074,341 2,410 100%

2 Corporate High Yield Bonds Global Bonds Q1 2016 Q1 2015 Q1 2016 Q1 2015

Mkt Volume (USD Deal Prev Mkt Volume (USD Firm Rank Share(%) Mln) Count Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Guotai Junan Securities Co 1 9.39 7,601 8 - - - JP Morgan 1 12.07 49,434 183 1 12.75 -0.68 Ltd Barclays 2 9.29 38,040 107 2 9.36 -0.07 Bank of America Merrill 2 7.60 6,153 32 3 6.99 0.61 Bank of America Merrill 3 9.22 37,739 160 6 7.96 1.26 Lynch Lynch Goldman Sachs 3 6.89 5,576 28 8 5.18 1.71 Citi 4 8.29 33,941 143 3 8.15 0.14 JP Morgan 4 5.20 4,209 33 1 7.37 -2.17 Goldman Sachs 5 7.32 29,962 101 4 8.14 -0.82 Citi 5 5.10 4,131 30 2 7.01 -1.91 Morgan Stanley 6 6.33 25,931 71 5 8.08 -1.75

Credit Suisse 6 3.60 2,916 21 7 5.76 -2.16 HSBC 7 5.66 23,161 69 9 5.68 -0.02 6

Barclays 7 3.44 2,783 17 6 5.92 -2.48 Deutsche Bank 8 5.19 21,228 76 7 6.28 -1.09 1 0 CITIC Securities Co Ltd 8 3.38 2,737 5 48 0.20 3.18 Wells Fargo 9 4.59 18,771 79 8 5.90 -1.31 2

Deutsche Bank 9 3.32 2,687 26 5 6.01 -2.69 TD Securities 10 4.53 18,529 53 11 3.28 1.25

UBS 10 3.03 2,453 7 9 3.72 -0.69 BNP Paribas 11 3.55 14,520 61 13 2.54 1.01 1

Wells Fargo 11 2.97 2,405 16 12 2.94 0.03 RBC Capital Markets 12 2.54 10,409 47 12 3.10 -0.56 Q

China Securities Co Ltd 12 2.89 2,343 6 - - - Mizuho Financial 13 2.23 9,120 59 15 1.86 0.37 |

Huatai Securities Co Ltd 13 2.38 1,924 3 - - - Mitsubishi UFJ Financial 14 1.62 6,620 31 18 1.14 0.48 s t Credit Agricole CIB 14 2.31 1,873 8 15 1.80 0.51 Credit Suisse 15 1.31 5,373 26 10 3.58 -2.27 e HSBC 15 2.14 1,731 10 13 2.30 -0.16 Societe Generale 16 1.15 4,691 22 26 0.36 0.79 k SunTrust Robinson 16 2.00 1,616 11 16 1.63 0.37 BMO Capital Markets 17 1.13 4,610 15 19 0.79 0.34 r a Humphrey Banco Santander 18 1.10 4,519 17 21 0.61 0.49

Agricultural Bank of Ltd 17 1.65 1,336 3 111 0.02 1.63 Nomura 19 1.01 4,144 11 17 1.15 -0.14 M

Morgan Stanley 18 1.53 1,238 16 4 6.69 -5.16 l Sumitomo Mitsui Financial 20 1.01 4,128 18 20 0.72 0.29 a

Mizuho Financial 19 1.52 1,230 7 25 0.85 0.67 t

TOTAL 100% 409,396 411 100% i Mitsubishi UFJ Financial 20 1.49 1,206 7 23 1.18 0.31 p

TOTAL 100% 80,950 168 100% a C

l a b o l G

g r e b m o o l B

3 Global Equity, Equity Linked & Rights: Industry Breakdown

Global Equity Review Technology 27% 11% Financials 18% Q1 2016 credited Global Equity, Equity Linked & Rights volume decreased 56.27% to USD 102.5 Bln while deal 5% 27% count decreased 42.90% to 627 offerings year-on-year. Global Equity IPO volume decreased 65.23% year-on- 6% Energy 16% year to USD 14.1 Bln while the deal count decreased 36.23% to 176. Global Equity Linked volume decreased Health Care 9% 41.99% year-on-year to USD 15.8 Bln over 61 deals. 7% JP Morgan ranked as the top Global Equity, Equity Linked & Rights underwriter for Q1 2016 with 9.57% market Materials 7% 9% share. The bank underwrote 55 deals over the period. Goldman Sachs and Bank of America Merrill Lynch 18% Consumer Discretionary 6% ranked second and third with 9.18% and 7.06% market share, respectively. 16% Industrials 5% Others 11% Global Equity, Equity Linked & Rights: Highlights of Q1 2016

Top Underwriter Issuer Industry Volume (USD Mln) Date Saipem SpA Energy 3,965 02/11/2016 JP Morgan

TransCanada Corp Energy 3,399 03/17/2016 2016

Number of deals 55 Molson Coors Brewing Co Consumer Staples 2,585 01/28/2016 Volume (USD Mln) 9,809 Baxalta Inc Health Care 2,409 03/16/2016 Global Equity, Equity Linked & Rights: Industry Breakdown

Avg Deal size (USD Mln) 178.3 Q1

Vodafone Group PLC Communications 2,067 02/19/2016 | Market Summary Vodafone Group PLC Communications 2,067 02/19/2016 Industry Volume (USD Mln) % Of Total % YOY Change Industrial Securities Co Ltd Financials 1,864 01/18/2016 Technology 41,215 27.1% 188.3% Number of deals 627 China Zheshang Bank Co Ltd Financials 1,685 03/21/2016 Financials 27,776 18.3% -67.1% Volume (USD Mln) 102,459 Enbridge Inc Energy 1,673 02/24/2016 Energy 25,027 16.5% -20.4% Avg Deal size (USD Mln) 163.4 Pioneer Natural Resources Co Energy 1,615 01/05/2016 Health Care 13,043 8.6% -61.4% Equity

Materials 10,346 6.8% 13.7% Consumer Discretionary 9,688 6.4% -65.4% Industrials 7,654 5.0% -62.8% Global Equity, Equity Linked & Rights: Quarterly Volume Communications 7,297 4.8% -61.3% Consumer Staples 6,194 4.1% -6.8%

Deal Count Rights Equity-Linked IPO Utilities 3,722 2.4% -60.4%

Add'l Global 400 1,500

300 dea Global Equity, Equity Linked & Rights: Offering Breakdown Deal Count 1,000 Offering Type Volume (USD Mln) % Of Total % YOY Change Bln Bln

200 Additional Offerings 65,823 43.3% -58.2% USD USD Equity-Linked 57,251 37.7% 33.4% Rights Offerings 14,630 9.6% 91.7% Bloomberg 500 100 IPO 14,331 9.4% -66.9%

0 0

20112011 20122012 20132013 20142014 20152015 20162016 Q1 Q1 Q1 Q1 Q1 Q1

Quarters

4 Global Equity, Equity Linked & Rights Global Equity & Equity Linked Q1 2016 Q1 2015 Q1 2016 Q1 2015

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(%) JP Morgan 1 9.57 9,809 55 2 8.82 0.75 JP Morgan 1 9.85 9,358 52 2 8.55 1.30 Goldman Sachs 2 9.18 9,407 47 1 10.61 -1.43 Goldman Sachs 2 9.57 9,093 46 1 10.43 -0.86 Bank of America Merrill 3 7.06 7,234 43 4 7.59 -0.53 Bank of America Merrill 3 7.62 7,234 43 4 7.76 -0.14 Lynch Lynch Morgan Stanley 4 6.99 7,161 39 3 8.33 -1.34 Morgan Stanley 4 7.54 7,161 39 3 8.46 -0.92 Citi 5 4.89 5,013 32 7 5.29 -0.40 UBS 5 5.01 4,762 24 5 7.45 -2.44 UBS 6 4.69 4,804 25 5 7.38 -2.69 Citi 6 4.95 4,699 31 7 5.41 -0.46 RBC Capital Markets 7 4.40 4,508 29 11 2.17 2.23 RBC Capital Markets 7 4.75 4,508 29 11 2.22 2.53 Credit Suisse 8 4.23 4,334 27 8 5.24 -1.01 Credit Suisse 8 4.50 4,277 26 8 5.27 -0.77 Deutsche Bank 9 3.25 3,330 27 6 5.50 -2.25 Nomura 9 3.33 3,164 24 12 2.11 1.22 Nomura 10 3.09 3,164 24 12 2.06 1.03 Deutsche Bank 10 2.97 2,821 24 6 5.55 -2.58 Barclays 11 2.41 2,471 18 9 4.94 -2.53 Barclays 11 2.49 2,364 17 9 5.04 -2.55 TD Securities 12 2.27 2,323 6 25 0.53 1.74 TD Securities 12 2.45 2,323 6 25 0.53 1.92 2016

Sinolink Securities Co Ltd 13 1.88 1,928 2 87 0.09 1.79 BMO Capital Markets 13 1.91 1,818 15 18 0.85 1.06 BMO Capital Markets 14 1.77 1,818 15 18 0.83 0.94 Scotiabank 14 1.73 1,639 11 20 0.72 1.01

Scotiabank 15 1.60 1,639 11 20 0.71 0.89 CIBC 15 1.69 1,605 10 26 0.49 1.20 Q1

CIBC 16 1.57 1,605 10 26 0.48 1.09 Mizuho Financial 16 1.36 1,295 16 15 1.07 0.29 | Mizuho Financial 17 1.26 1,295 16 16 1.05 0.21 Wells Fargo 17 1.28 1,216 12 10 2.51 -1.23 Jefferies 18 1.22 1,251 15 14 1.07 0.15 Jefferies 18 1.22 1,156 14 14 1.10 0.12 Wells Fargo 19 1.19 1,216 12 10 2.46 -1.27 BNP Paribas 19 1.02 971 7 16 1.06 -0.04 Co Ltd 20 1.00 1,029 11 68 0.14 0.86 CITIC Securities Co Ltd 20 1.01 960 9 41 0.32 0.69 Equity

TOTAL 100% 102,459 627 100% TOTAL 100% 94,993 600 100%

Global Equity Offerings Global Equity IPO Q1 2016 Q1 2015 Q1 2016 Q1 2015

Mkt Volume (USD Deal Mkt Volume (USD Deal Global Firm Rank Share(%) Mln) Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Share(%) Mln) Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Goldman Sachs 1 9.86 7,804 39 1 11.41 -1.55 Goldman Sachs 1 5.81 818 8 6 4.60 1.21

JP Morgan 2 8.88 7,029 41 4 8.08 0.80 Morgan Stanley 2 5.14 724 7 1 10.11 -4.97 Bank of America Merrill 3 8.13 6,436 39 5 7.53 0.60 Haitong Securities Co Ltd 3 4.17 587 8 36 0.69 3.48 Lynch JP Morgan 4 4.03 568 6 2 6.80 -2.77 Morgan Stanley 4 6.60 5,223 34 2 8.79 -2.19 Bank of America Merrill Lynch 5 3.80 536 6 3 5.92 -2.12 RBC Capital Markets 5 5.51 4,365 27 10 2.30 3.21 Deutsche Bank 6 3.73 525 5 5 4.90 -1.17 UBS 6 5.49 4,344 21 3 8.25 -2.76 Samba Capital 7 3.35 471 1 - - - Credit Suisse 7 5.24 4,151 25 8 5.27 -0.03 Guotai Junan Securities Co 8 3.25 458 7 75 0.20 3.05 Citi 8 5.10 4,041 27 7 5.28 -0.18 Ltd Deutsche Bank 9 3.13 2,478 21 6 5.81 -2.68 CITIC Securities Co Ltd 9 3.05 430 4 20 1.03 2.02

Barclays 10 2.99 2,364 17 9 4.73 -1.74 Nomura 10 2.79 393 6 22 0.98 1.81 Bloomberg TD Securities 11 2.93 2,323 6 31 0.45 2.48 11 2.76 388 3 - - - BMO Capital Markets 12 2.26 1,789 14 18 0.77 1.49 Mizuho Financial 12 2.71 381 6 96 0.10 2.61 Scotiabank 13 1.55 1,226 10 16 0.82 0.73 13 2.17 306 2 33 0.72 1.45 Wells Fargo 14 1.54 1,216 12 11 1.61 -0.07 13 2.17 306 2 - - - CIBC 15 1.47 1,164 8 29 0.47 1.00 Agricultural Bank of China Ltd 13 2.17 306 2 - - - Jefferies 16 1.46 1,156 14 14 1.04 0.42 Citi 16 2.08 292 4 9 2.93 -0.85 Nomura 17 1.33 1,050 20 12 1.56 -0.23 RBC Capital Markets 17 1.93 272 3 15 1.53 0.40 GF Securities 18 1.01 801 5 74 0.13 0.88 GF Securities 18 1.73 244 4 39 0.58 1.15 Mizuho Financial 19 0.92 730 12 22 0.62 0.30 Carnegie 19 1.67 236 4 28 0.80 0.87 Numis 20 0.81 642 8 43 0.32 0.49 Great Wall Securities 20 1.61 227 2 - - - TOTAL 100% 79,174 539 100% TOTAL 100% 14,083 176 100%

5 Global Equity Linked Q1 2016 Q1 2015

Mkt Volume (USD Deal Prev Prev Mkt Firm Rank Share(%) Mln) Count Rank Share(%) Mkt Share Chg(%) JP Morgan 1 14.72 2,329 11 1 12.01 2.71 Nomura 2 13.37 2,114 4 6 6.21 7.16 Morgan Stanley 3 12.25 1,938 5 7 5.98 6.27 Goldman Sachs 4 8.15 1,289 7 12 3.23 4.92 BNP Paribas 5 5.59 884 6 10 4.23 1.36 Bank of America Merrill Lynch 6 5.04 798 4 2 9.50 -4.46 Citi 7 4.16 659 4 5 6.40 -2.24 Mizuho Financial 8 3.57 565 4 9 4.44 -0.87 CIBC 9 2.79 441 2 25 0.63 2.16 UBS 10 2.64 418 3 16 1.53 1.11 Scotiabank 11 2.61 412 1 - - - CITIC Securities Co Ltd 12 2.49 394 2 - - - China International Capital 13 2.39 378 3 - - - 2016

Corp Credit Agricole CIB 14 2.29 363 3 22 1.04 1.25

Deutsche Bank 15 2.16 342 3 11 3.66 -1.50 Q1

China Investment Corp 16 1.69 268 1 - - - | HSBC 17 1.49 236 2 13 2.33 -0.84 Sumitomo Mitsui Financial 18 1.12 177 1 42 0.12 1.00 Dongbu Securities 19 1.09 173 1 - - - Berenberg 20 1.05 165 1 35 0.20 0.85 Equity

TOTAL 100% 15,818 61 100% Global

Bloomberg

6 Global Loans: Industry Breakdown

Global Loans Review 6% 6% 23% 6%

7% Global Loans 8% 14%

Q1 2016 Q1 2015 9% 11% Mkt Volume (USD Deal Prev Prev Mkt Mkt Share 10% Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Bank of America Merrill 1 11.56 66,284 344 2 9.09 2.47 Lynch Financials 23% JP Morgan 2 10.12 58,017 278 1 10.15 -0.03 Consumer Discretionary 14% Wells Fargo 3 6.72 38,526 214 3 5.36 1.36 Materials 11% Citi 4 5.80 33,246 155 6 4.45 1.35 Industrials 10% Barclays 5 4.48 25,713 104 9 2.72 1.76 Health Care 9% Deutsche Bank 6 4.39 25,155 100 8 2.81 1.58 Energy 8% Mitsubishi UFJ Financial 7 3.19 18,318 116 4 4.86 -1.67 Technology 7% Goldman Sachs 8 2.88 16,529 86 12 2.35 0.53 Consumer Staples 6% Morgan Stanley 9 2.75 15,749 50 7 2.89 -0.14 Utilities 6% HSBC 10 2.53 14,524 123 5 4.85 -2.32 Others 6% RBC Capital Markets 11 2.48 14,208 80 15 1.82 0.66 BNP Paribas 12 2.01 11,517 115 11 2.39 -0.38 Credit Suisse 13 1.93 11,063 71 16 1.80 0.13 Global Loans: Bookrunner Rankings History

TD Securities 14 1.80 10,310 52 24 1.19 0.61 Global Capital Markets | Q1 2016

Mizuho Financial 15 1.78 10,187 67 13 2.23 -0.45 2016 2015 2014

BMO Capital Markets 16 1.71 9,813 109 29 0.95 0.76 15 Sumitomo Mitsui Financial 17 1.55 8,874 59 20 1.34 0.21

Bank of China 18 1.32 7,573 41 17 1.70 -0.38 10 ING Groep 19 1.30 7,426 93 22 1.27 0.03 US Bancorp 20 1.26 7,213 70 26 1.09 0.17 5 Market Share (%) TOTAL 100% 573,397 1,636 100% Bloomberg This table consists of loans syndicated globally. This excludes bilateral loans. There is a minimum threshold of 3 months for 0 maturities. Please see League Table Standards and Guidelines for further details. Citi Barclays JP Morgan Wells Fargo Deutsche Bank

Bank of America Merrill Lynch

7 Global Loans (Bookrunner) Global Loans (Mandated Lead Arranger) Q1 2016 Q1 2015 Q1 2016 Q1 2015

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 11.56 66,284 344 2 9.09 2.47 JP Morgan 1 11.45 73,907 308 1 8.46 2.99 Lynch Bank of America Merrill 2 10.13 65,374 364 2 7.77 2.36 JP Morgan 2 10.12 58,017 278 1 10.15 -0.03 Lynch Wells Fargo 3 6.72 38,526 214 3 5.36 1.36 Wells Fargo 3 5.33 34,411 234 4 4.39 0.94 Citi 4 5.80 33,246 155 6 4.45 1.35 Citi 4 5.08 32,750 173 3 4.52 0.56 Barclays 5 4.48 25,713 104 9 2.72 1.76 Deutsche Bank 5 4.15 26,779 113 12 2.38 1.77 Deutsche Bank 6 4.39 25,155 100 8 2.81 1.58 Mitsubishi UFJ Financial 6 3.74 24,118 213 5 4.36 -0.62 Mitsubishi UFJ Financial 7 3.19 18,318 116 4 4.86 -1.67 Barclays 7 2.88 18,584 119 7 3.05 -0.17 Goldman Sachs 8 2.88 16,529 86 12 2.35 0.53 HSBC 8 2.57 16,606 204 6 3.88 -1.31 Morgan Stanley 9 2.75 15,749 50 7 2.89 -0.14 Goldman Sachs 9 2.47 15,958 85 19 1.54 0.93 HSBC 10 2.53 14,524 123 5 4.85 -2.32 RBC Capital Markets 10 2.22 14,305 99 15 1.86 0.36 RBC Capital Markets 11 2.48 14,208 80 15 1.82 0.66 Mizuho Financial 11 2.01 12,989 109 9 2.52 -0.51 BNP Paribas 12 2.01 11,517 115 11 2.39 -0.38 BNP Paribas 12 2.01 12,968 178 10 2.43 -0.42 Credit Suisse 13 1.93 11,063 71 16 1.80 0.13 Bank of China 13 1.98 12,748 89 13 1.95 0.03 TD Securities 14 1.80 10,310 52 24 1.19 0.61 Sumitomo Mitsui Financial 14 1.84 11,867 118 16 1.83 0.01 Mizuho Financial 15 1.78 10,187 67 13 2.23 -0.45 BMO Capital Markets 15 1.79 11,574 136 28 1.10 0.69 BMO Capital Markets 16 1.71 9,813 109 29 0.95 0.76 Credit Suisse 16 1.67 10,773 73 17 1.82 -0.15 Sumitomo Mitsui Financial 17 1.55 8,874 59 20 1.34 0.21 TD Securities 17 1.62 10,474 57 25 1.16 0.46 Bank of China 18 1.32 7,573 41 17 1.70 -0.38 Morgan Stanley 18 1.27 8,225 52 8 2.86 -1.59 ING Groep 19 1.30 7,426 93 22 1.27 0.03 ING Groep 19 1.22 7,881 154 21 1.46 -0.24 US Bancorp 20 1.26 7,213 70 26 1.09 0.17 Credit Agricole CIB 20 1.22 7,870 144 14 1.88 -0.66 TOTAL 100% 573,397 1,636 100% TOTAL 100% 645,234 1,938 100%

Global Sponsor-Led Loans (Bookrunner) Global Sponsor-Led Loans (Mandated Lead Arranger) Q1 2016 Q1 2015 Q1 2016 Q1 2015

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 6.35 3,582 42 5 5.69 0.66 Bank of America Merrill 1 5.88 3,538 42 3 5.78 0.10 Bank of America Merrill 2 6.20 3,498 41 3 6.25 -0.05 Lynch Global Capital Markets | Q1 2016 Lynch Goldman Sachs 2 5.36 3,228 39 5 5.25 0.11 Credit Suisse 3 5.44 3,071 32 2 6.48 -1.04 Credit Suisse 3 4.88 2,938 32 2 6.17 -1.29

Barclays 4 4.85 2,736 30 1 6.79 -1.94 JP Morgan 4 4.83 2,905 27 6 4.94 -0.11 Morgan Stanley 5 4.55 2,566 22 8 3.96 0.59 Barclays 5 4.79 2,886 34 1 6.40 -1.61 Citi 6 4.46 2,519 20 10 3.69 0.77 Citi 6 4.27 2,571 24 10 3.49 0.78 BNP Paribas 7 4.43 2,500 44 18 1.96 2.47 Morgan Stanley 7 4.14 2,492 21 8 3.76 0.38 HSBC 8 4.26 2,405 37 19 1.59 2.67 HSBC 8 4.08 2,459 59 19 1.86 2.22 Antares Capital LP 9 4.23 2,389 56 13 2.40 1.83 Antares Capital LP 9 3.95 2,377 61 13 2.43 1.52 JP Morgan 10 4.21 2,378 23 6 5.37 -1.16 BNP Paribas 10 3.39 2,038 50 22 1.55 1.84 Jefferies 11 3.49 1,971 17 17 2.02 1.47 Jefferies 11 3.27 1,971 17 16 1.91 1.36 Macquarie 12 3.41 1,923 15 9 3.82 -0.41 Wells Fargo 12 3.23 1,943 22 11 3.15 0.08

Nomura 13 2.68 1,514 14 16 2.02 0.66 Macquarie 13 3.19 1,923 15 9 3.61 -0.42 Bloomberg Wells Fargo 14 2.64 1,488 18 11 3.44 -0.80 RBC Capital Markets 14 2.60 1,566 22 7 4.78 -2.18 Deutsche Bank 15 2.52 1,422 24 4 5.96 -3.44 Nomura 15 2.49 1,497 14 17 1.91 0.58 RBC Capital Markets 16 2.47 1,397 16 7 4.90 -2.43 BMO Capital Markets 16 2.45 1,473 48 23 1.38 1.07 Nederland 17 2.33 1,316 9 40 0.46 1.87 Rabobank Nederland 17 2.37 1,426 16 41 0.51 1.86 BMO Capital Markets 18 2.16 1,218 38 26 1.04 1.12 Deutsche Bank 18 2.20 1,325 24 4 5.38 -3.18 UBS 19 2.10 1,185 15 29 0.76 1.34 ING Groep 19 2.06 1,238 37 21 1.58 0.48 ING Groep 20 1.59 898 23 23 1.44 0.15 UBS 20 1.95 1,176 25 31 0.74 1.21 TOTAL 100% 56,456 342 100% TOTAL 100% 60,203 378 100%

8 Global Bridge Loans (Bookrunner) Global Bridge Loans (Mandated Lead Arranger) Q1 2016 Q1 2015 Q1 2016 Q1 2015

Mkt Volume (USD 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(%) Barclays 1 21.50 9,330 4 31 0.13 21.37 Bank of America Merrill Lynch 1 19.88 10,200 3 3 9.61 10.27 Morgan Stanley 2 20.74 9,000 2 1 16.37 4.37 Deutsche Bank 2 16.95 8,694 5 9 2.89 14.06 Bank of America Merrill Lynch 2 20.74 9,000 1 6 7.67 13.07 Goldman Sachs 3 9.80 5,025 2 5 4.10 5.70 Deutsche Bank 4 17.27 7,494 3 7 4.34 12.93 Mitsubishi UFJ Financial 4 4.36 2,236 8 2 12.49 -8.13 Goldman Sachs 5 11.58 5,025 2 5 10.64 0.94 Bank of China 5 4.00 2,052 5 34 0.32 3.68 Mitsubishi UFJ Financial 6 2.24 971 4 4 11.97 -9.73 Sumitomo Mitsui Financial 6 3.25 1,667 6 16 2.05 1.20 Citi 7 1.54 667 1 8 4.11 -2.57 Mizuho Financial 7 3.20 1,643 3 8 3.25 -0.05 HSBC 7 1.54 667 1 3 12.43 -10.89 Barclays 8 2.98 1,530 4 7 3.48 -0.50 CIBC 9 0.86 372 1 - - - Banco Santander 9 2.55 1,309 3 10 2.48 0.07 TD Securities 9 0.86 372 1 38 0.06 0.80 RBC Capital Markets 10 2.46 1,262 3 54 0.03 2.43 Bank of China 11 0.69 300 1 31 0.13 0.56 Morgan Stanley 11 2.34 1,200 2 1 18.41 -16.07 JP Morgan 12 0.32 140 1 2 12.80 -12.48 Lloyds Bank 11 2.34 1,200 2 16 2.05 0.29 Credit Agricole CIB 13 0.05 21 2 19 0.56 -0.51 RBS 11 2.34 1,200 2 15 2.13 0.21 Sumitomo Mitsui Financial 13 0.05 21 2 - - - DNB ASA 11 2.34 1,200 2 42 0.17 2.17 Landesbank Hessen-Thuringen 13 0.05 21 2 - - - Credit Suisse 11 2.34 1,200 2 20 1.73 0.61 Girozentrale Commerzbank 11 2.34 1,200 2 18 2.03 0.31 ------HSBC 17 2.28 1,172 3 14 2.15 0.13 ------Citi 18 1.30 667 1 4 5.35 -4.05 ------Industrial & Comm Bank of 19 1.08 552 2 ------China ------JP Morgan 20 1.03 529 3 6 3.75 -2.72 TOTAL 100% 43,400 15 100% TOTAL 100% 51,299 21 100% Global Capital Markets | Q1 2016

Bloomberg

9 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 a 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 transaction must have a maturity or a call/put option of minimum 18 month. Make-whole calls, provisional calls/puts are exempt 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.

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 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, certain lower hierarch 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 hierarch titles, i.e. Jr Bookrunner. Note: Criteria may vary for some local and/or regional table.

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 sole bank satisfying the highest of the titles. Full credit is awarded to the sole bookrunning manager or split equally among joint bookrunning managers; unless a full, explicit breakdown of bookrunning is provided by an involved party. 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 to following structural changes only: three months or more maturity extensions, incremental basis for increased in deal size, reduction in pricing, full release of security.

Exclusions: Bilateral transactions, guaranteed deals (including but not limited to Letter of Guarantee, Performance Bond, CP Guarantee or Bank Guarantee), deals with a maturity of less than three months (limit of one amended maturity per loan ,per year), cancelled or withdrawn transactions that are not executed prior to deal’s cancellation or withdrawal.

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.