Accessing Global Capital markets through London 11th Annual Capital Link Shipping, Marine Services & Offshore Forum September 2018 Source: Source: Access to the fastest growing investor pool in the world in the pool investor growing fastest the to Access Markets At theHeartofGlobal presence presence in the US. and FTSERussell LCH and investors has significant enables accessto direct US London Exchange Stock LSEG’s global presence LSEG’s presence global and selected partnerships London London trading hours FactSet -11 -10 -9 -8 -7 -6 -5 -4 -3 -2 GMT -1 0 1 2 3 4 5 6 7 8 9 issuers with to with the accessissuers London London Shanghai Stock Connect will provide provide our Connect will fastest growing fastestinvestor growing 10 pool world in the 11 1 Recent Highlights & Key Transactions 108 IPOs on London 9 of top 10 IPOs Stock Exchange in 2017 raised a combined £15 were international 108 billion, nearly 4 times London’s IPOs became even more higher than the next international in 2017, with 9 of the 10 IPOs European competitor. largest IPOs considered to be international companies. More closed end 37 funds, SPACs and £41bn REITs have listed A total £41bn equity capital was raised in Fund in London than London in 2017 through IPOs and follow on anywhere else in issuance, 36% higher than in 2016. IPOs the world in 2017. More Further Offer First Komodo Bond (FO) transactions on Allied Irish Bank LSEG markets than London Stock Exchange welcomes any other exchange Largest IPO in Europe in 2017 raising EUR world’s first Komodo (Indonesian rupiah) globally in 2017 3.4billion via a dual-listing in London and Dublin corporate bond by Indonesian authorities. Source: Dealogic, London Stock Exchange data, April 2018 2 A Truly Global Issuer Base 27% of international companies listed on LSE are European More international companies choose London for listing than any other exchange 38% International companies are comfortable they can attract the right investor base through London of listed companies on LSE are international London Has More International* Companies Than Any Other Exchange Regions of Primary Business of the % of International Companies International Companies listed on LSE LONDON 38% Europe EURONEXT PARIS 10% 31% Russian Federation 27% FRANKFURT 10% Ireland 20% Germany 9% EURONEXT 7% 4% Netherlands 5% AMSTERDAM 808 27% Ukraine 4% OMX NORDIC International 7% Spain 3% COPENHAGEN 13% Companies Switzerland 3% Poland 3% SIX SWISS 6% Greece 3% OMX NORDIC Romania 3% 6% 26% STOCKHOLM Others 20% DUBLIN 3% 0% 5% 10% 15% 20% 25% 30% 35% 40% Americas Asia Europe Africa Oceania Source: LSE data, Factset, August 2018 * International classification based on country of HQ, Incorporation, Risk, Top Geo Rev 3 LSE 1st in Europe for IPOs in H1 2018 LSE had 2x more IPOs vs. next closest European competitor in H1 2018 Leading European Exchanges by Number of IPOs in H1 2018 London Stock Exchange st 45 7 ranks 1 in Europe by number of IPOs in H1 2018, 40 £3.7bn of Frankfurt’s £6.4bn with 2x more IPOs (40) than 40 was raised via the Siemens 6 then next closest competitor. Healthineers AG IPO in March 35 ) LSE ranks second by IPO 5 bn capital raised in Europe in H1 30 2018 (raising £4.1bn). 25 4 LSE ranks 1st in Q2 2018 for 20 IPO proceeds (raising 20 3 No. of IPOs No. of £2.8bn) – 3x more than the next closest competitor (SIX 15 13 CapitalRaised(£ IPO 12 Swiss). 2 10 8 8 The largest 2 LSE IPOs in Q2 6 6 5 5 1 were also the largest two LSE 5 IPOs of H1 2018 and were also from international 0 - issuers: Vivo Energy raising LSE Nasdaq Frankfurt Borsa Euronext - Warsaw Nasdaq Istanbul Nasdaq SIX Swiss OMX - Stock Italiana Paris (GPW) OMX - OMX - £603m (Morocco) and Avast Stockholm Exchange Helsinki Copenhagen raising £602m (Czech Republic). No. of IPOs IPO Capital Raised (£bn) Source: Dealogic, July 2018 All calculations based on deal trade date 4 London’s Largest IPOs in 2018 Three of the five largest IPOs of 2018 YTD have been international May 2018 May 2018 March 2018 Avast Vivo Energy Energean “As the number of cyber threats around the world “Vivo Energy’s differentiated business model, strong "We are delighted to be here to celebrate continues to dramatically increase, our focus on track record, exposure to Africa and the growth Energean’s entry to a Premium Listing on the LSE developing award-winning security products to help opportunity it represents has been well understood Main Market – representing the largest oil and gas protect people's digital lives has enabled us to grow by investors. We are excited about the momentum IPO in London in nearly four years. Our listing will our business into the number one global consumer in the business and are looking forward to delivering offer investors access to production, development cybersecurity company, with more than 435 million further growth and success as a London listed and exploration assets in the increasingly prolific users worldwide.” company.” Eastern Mediterranean region.” Vince Steckler, CEO of Avast Christian Chammas, CEO of Vivo Energy Mathios Rigas, CEO of Energean With $816mn capital raised, Avast is the largest As at May 2018, it is the largest IPO on London Energean listed on Premium Main Market by tech IPO across Europe and 2nd largest IPO on Stock Exchange YTD; and the largest Africa- raising $460mn in the IPO. This is the largest Oil & London Stock Exchange in 2018 to date. focused IPO in more than a decade with $819mn Gas exploration and production IPO to be listed in raised. London since 2011. Source: LSE, company website, Dealogic, FactSet, September 2018 5 2. The Global Shipping Sector 6 Shipping Sector: Global Equity Raising A steady stream of IPO’s over the last decade Avg. 2008 - 2012 Avg. 2009-2018 20 $7.5bn $7.8bn 35 18 30 16 14 25 12 20 10 15 of #IPOs 8 6 10 4 Total Money ($bn) Money Raised Total 5 2 0 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Follow-On IPO # of IPOS Source: Dealogic, September 2018 Dealogic Company Business Description filtered for: Marine, Maritime, Shipping, Cargo, Tanker, Ocean Freight 7 Global ECM Activity IPOs Global Marine, Shipping and Transportation Services —Globally, since the start of 2017, there have been 25 IPO’s raising $1.6bn, with an average deal value of $62m —Global Ports Holding raised $206m on LSE in May 2017, the largest shipping IPO in EMEA since the start of 2017 Top 10 largest IPO’s since September 2017 Pricing Offer Size Deal Type Exchange Company Company Nationality Industry Group Date (USDm) 16-Mar-17 IPO 231.4 Shanghai Stock Exchange Guangzhou Port Co Ltd China Transportation-Ship 04-Aug-17 IPO 230.7 BSE, NSE Cochin Shipyard Ltd India Transportation-Ship 12-May-17 IPO 206.3 London Stock Exchange Global Ports Holding plc Turkey Transportation-Ship 07-Jun-18 IPO 173.3 Tallinn Port of Tallinn AS Estonia Transportation-Ship 05-May-17 IPO 162.4 Oslo Stock Exchange Fjord1 AS Norway Transportation-Ship 20-Apr-17 IPO 99.9 Norwegian Fund Broker Association MPC Container Ships AS Norway Transportation-Ship 22-Jun-18 IPO 99.0 Oslo Stock Exchange Okeanis Eco Tankers Corp Greece Transportation-Ship 28-Jun-18 IPO 58.8 Indonesia Stock Exchange PT Indonesia Kendaraan Terminal Tbk Indonesia Transportation-Ship 11-May-17 IPO 50.0 Norwegian Fund Broker Association Navios Maritime Containers Inc Monaco Transportation-Ship 05-May-18 IPO 38.3 Borsa Italiana Somec SpA Italy Transportation-Ship Source: Dealogic, September 2018 Dealogic Company Business Description filtered for: Marine, Maritime, Shipping, Cargo, Tanker, Ocean Freight 8 Global ECM Activity Further Issues Global Marine, Shipping and Transportation Services —Globally, since the start of 2017, there have been 114 further issues raising $10.9bn, with an average deal value of $95.5m —Cobham plc priced the largest further offering in EMEA on LSE with a $671m rights issue Top 10 largest Further Issues since September 2017 Pricing Offer Size Deal Type Exchange Company Company Nationality Industry Group Date (USDm) 13-Apr-18 Follow-On 1,316.5 Korea Exchange-KOSPI Samsung Heavy Industries Co Ltd South Korea Transportation-Ship 06-Mar-18 Follow-On 1,143.8 Korea Exchange-KOSPI Hyundai Heavy Industries Co Ltd South Korea Transportation-Ship Telecommunications- 05-May-17 Follow-On 671.2 London Stock Exchange Cobham plc United Kingdom Wireless/Cellular 04-Dec-17 Follow-On 553.7 Korea Exchange-KOSPI Hyundai Merchant Marine Co Ltd South Korea Transportation-Ship 17-Oct-17 Follow-On 414.8 Frankfurt Stock Exchange-Prime Hapag-Lloyd AG Germany Transportation-Ship Compania Sud Americana de Vapores SA - 22-Nov-17 Follow-On 293.0 Santiago Stock Exchange Chile Transportation-Ship CSAV 11-Jul-17 Follow-On 286.3 Frankfurt Stock Exchange-Prime Hapag-Lloyd AG Germany Transportation-Ship 21-Feb-18 Follow-On 264.1 Paris Gaztransport & Technigaz SA - GTT France Transportation-Ship Transportation-General 16-Nov-17 Follow-On 254.1 Taiwan Stock Exchange Evergreen Marine Corp (Taiwan) Ltd Taiwan Logistics/Warehousing Computers & Electronics- 07-Nov-17 Follow-On 237.1 Korea Exchange-KOSPI Hyundai Electric & Energy Systems Co Ltd South Korea Components Source: Dealogic, September 2018 Dealogic Company Business Description filtered for: Marine, Maritime, Shipping, Cargo, Tanker, Ocean Freight 9 London’s Shipping Ecosystem The Baltic Exchange, headquartered in London, is Galbraith’s, headquartered in London, the world's only independent has been at the forefront of source of maritime market shipbroking since 1847. information for the trading and settlement of physical and derivative shipping contracts.