REUTERS / Stefan Wemuth GLOBAL SYNDICATED LOANS REVIEW MANAGING UNDERWRITERS

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1 REUTERS / Stefan Wemuth GLOBAL SYNDICATED LOANS REVIEW MANAGING UNDERWRITERS First Half

2 First Half MANAGING UNDERWRITERS SYNDICATED LOANS REVIEW Global Syndicated Loans Global Deals Intelligence Leading Underwriters for Table of Contents EMEA Mandated Lead Arrangers (R) European Leveraged Loans (P) Global Loans s (R) EMEA Sponsored Loans (P3) Global Debt & Syndicated Loans (DL) Global Loans Mandated Arrangers (R3) Top Global Syndicated Loans Global Scorecard Global Loans Rankings Last Ten Years 3 Asia Pacific (Excl. Japan) Syndicated Loans Asia & Australia Deals Intelligence Top Asia Syndicated Loans Asia Loans Asian Currency (S3i) Asia Loans s (Sc) Americas Syndicated Loans Asia Loans Mandated Arrangers (Sb) Americas Deals Intelligence Top Americas Syndicated Loans Australia Loans s (S) Top Australia Syndicated Loans Americas Loans s (R) Australia Loans Mandated Arrangers (Sa) Americas Loans Mandated Arrangers (Rc) US Loans s (R) North America Loans s (R) US Leveraged Loans s (Ra) US Investment Grade Loans s (Rb) Latin America Loans Mandated Lead Arrangers (R) EMEA Syndicated Loans EMEA Deals Intelligence Top EMEA Syndicated Loans EMEA s (R) Japan Syndicated Loans Japan Deals Intelligence Top Japan Syndicated Loans Japan Loans s (Sb) Japan Loans Mandated Arrangers (Sa) Ranking Criteria Summary Syndicated Loans Criteria Summary 3 Regional Contacts Thomson Reuters Solutions for the Deal Making Community 3

3 First Half MANAGING UNDERWRITERS SYNDICATED LOANS REVIEW Global Syndicated Lending Totals US$. trillion, up % I Americas Lending Up % Syndicated Lending Fees Up 3% I Bank of America Merrill Lynch Tops Rankings Global Deals Intelligence GLOBAL SYNDICATED LENDING HITS US$. TRILLION Global Syndicated lending activity increased.% compared to the first half of, totaling US$. trillion from, transactions. The contributed the largest share of the global market, with US$.3 trillion in loan volume, representing % of overall proceeds. Lending in the United Kingdom increased % compared to the same period last year, totaling US$. billion. ACQUISITION FINANCING TRIPLES IN CONSUMER STAPLES, INDUSTRIALS, AND TELECOM Acquisition financing in the Consumer Staples, Industrials, and Telecommunications industries tripled compared to the same period in, with notable M&A borrowing by British American Tobacco and Reckitt Benckiser. Despite the significant uptick in loan volume, the number of loans in these sectors remained flat. United Kingdom acquisition financing increased eightfold compared to last year, with US$. billion in completed loans. AMERICAS LENDING UP % FROM American loans totaled US$. trillion, representing % of global loan volume in the first half of. European lending activity increased % yearoveryear, with US$3. billion from loans. AsiaPacific loan activity decreased 3% compared to last year, with US$. billion in transactions. Japanese syndicated loan volume decreased 3% compared to the first half of, with US$. billion in loans. Global Syndicated Loans Volume Q Volume (US$t) Q3 Volume (US$t) Q Volume (US$t) Q Volume (US$t) # of Deals Proceeds (US$t) $.,,3,33,3 $. $3., $. $.,,,,,, ENERGY, FINANCIALS AND INDUSTRIALS LENDING ACCOUNT FOR % OF TOTAL VOLUME Borrowing in the Energy sector totaled US$33. billion during the first half of, down % compared to last year. Financials loan activity increased %, totaling US$3. billion during the opening six months of. Industrials lending activity reached US$. billion, down % compared to same period last year. Borrowing activity in the Telecommunications industry increased % compared to a year ago, with US$. in deal volume. Global Loans s (R) RELATIVE STABILITY AT THE TOP OF THE BOOKRUNNER RANKINGS # of Deals per Imputed Fees (US$m) Bank of American Merrill Lynch maintained the top ranking for global bookrunners during the first half of, capturing % of the global syndicated loans market share with US$. billion from transactions. JP Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals FeesShare % Share Ch. Morgan retained the second spot with US$. billion in loans, representing an % market share. and Wells Fargo retained their third and fourth ranks, respectively, and Barclays climbed two spots to fifth. Bank of America Merrill Lynch,., , SYNDICATED LENDING FEES UP 3% Wells Fargo & Co, Barclays 3, Estimated bookrunner fees increased 3% compared to the previous year, with US$. billion in total fees Deutsche Bank, earned. Total fees for the top five banks during the first half of increased % compared to last year, Mitsubishi UFJ Financial Group, totaling US$. billion, despite a collective loss of 3. market share points. Mizuho Financial Group, Goldman Sachs & Co Credit Suisse 3,., RBC Capital Markets, Morgan Stanley, Leading Underwriters During the Second Quarter of HSBC Holdings PLC 3, Sumitomo Mitsui Finl Grp Inc, Current Qtr Market Share Mkt. Share Chg. BNP Paribas SA Scotiabank,3. 3, Market Sector No. Manager (%) from Last Qtr (%) Credit Agricole CIB 3, Global Loans (R). 3. Bank of China Ltd 3, Americas Loans (R).. BMO Capital Markets, North American Loans (R).. US Bancorp, US Loans (R)..3 TD Securities Inc, US Leveraged Loans (Ra) Bank of America Merrill Lynch.. SunTrust Banks, US Investment Grade Loans (Rb).. PNC Financial Services Group 3 3, Latin America Loans (R). 3. Societe Generale 3, Latin America Loans (R).. Jefferies LLC, EMEA Loans (R) Credit Agricole CIB..,3,...,...3 EMEA Leveraged Loans (P) Credit Agricole CIB.. Total,,..,3,.. AsiaPacific ex. Japan ex. Australia (Sb) Bank of China Ltd.. AsiaPacific ex. Japan ex. Australia (Sc) Bank of China Ltd.. Industry % Change from Same Period Last Year.%.%.% Japan Loans (Sa) Japan Loans (Sb) Australian Loans (S) Sumitomo Mitsui Finl Grp Inc Mizuho Financial Group Commonwealth Bank of Australia Industry % Change from Last Quarter.% 3.%.3% $. 3

4 First Half Syndicated Loans Managing Underwriters Global Global Debt & Syndicated Loans (DL) Scorecard: Global Syndicated Loans Proceeds per Mandated Arranger US$m) # of Deals per MA Imputed Fees (US$m) // /3/ // /3/ Mandated Arrangers Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals FeesShare % Share Ch. % Chge in 3,....,3.3.. Region/Nation Proceeds (US$m) Proceeds (US$m) Proceeds Bank of America Merrill Lynch 3, ,... Global,,.,,,., ,...3.,.3.. Americas,3,.,33,,.,. Barclays, North America,3,.,,,3.,. HSBC Holdings PLC, of America,3,.,,,.,3. Wells Fargo & Co, Canada,. 3,.. Goldman Sachs & Co 3, Central America 3,., Deutsche Bank 3, Mexico 3,.3,. 3. Morgan Stanley 3, South America,. 3,. 3. BNP Paribas SA, Chile,3.,. 3. Top Ten Total,3,33...,... Colombia 3... Industry Total,,..,,.. Europe 3,. 3,3.. Western Europe 3,3. 33,..3 Industry % Change from Same Period Last Year.%.%.% Germany 3,. 3,.. Industry % Change from Last Quarter.%.%.3% France,.,.. United Kingdom,.,33.. Italy 3,3.,3.. Spain 3,. 3,.. Global Loans Mandated Arrangers (R3) Netherlands 3,. 33,. 3. Switzerland,.,.. Proceeds per Mandated Arranger US$m) # of Deals per MA mputed Bookrunning Fees (US$m Sweden,3.,.. Luxembourg,3.,.3 3. Mandated Arrangers Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals FeesShare % Share Ch. Norway,. 3,.. Bank of America Merrill Lynch, Denmark,.,..3 3, Eastern Europe,.,.. 3 3, Turkey,3.,33.. Wells Fargo & Co, Czech Republic,.,.. Barclays, Russian Federation,.,.. Mitsubishi UFJ Financial Group, Poland,.,.. Deutsche Bank, Africa/Middle East/Central Asia 3,3.,. 3. Mizuho Financial Group, Middle East,.,.. Goldman Sachs & Co, Kuwait.,.. Sumitomo Mitsui Finl Grp Inc 3, Bahrain 3.,..3 Credit Suisse, SubSaharan Africa,.,.3. RBC Capital Markets, South Africa,3.3,..3 Morgan Stanley 3, Ghana HSBC Holdings PLC, AsiaPacific (ex Central Asia),3. 3,3. 3. BNP Paribas SA, North Asia,. 3,. 3. Bank of China Ltd 3, Hong Kong 3,.,. 3. Scotiabank 3, China,. 3,3. 3. US Bancorp 33, Taiwan,3.,.. BMO Capital Markets 3, South Asia,. 3,. 3.3 Credit Agricole CIB 3, India,. 3,3.. ING 3, Southeast Asia 3,.,.. Societe Generale 3, Singapore 3,. 3,.. SunTrust Banks 3, Indonesia,.,.3. PNC Financial Services Group, Malaysia,.,..3 TD Securities Inc, Vietnam. 3..,,...,3... Philippines, Industry Total,,..,,.. Australasia 3,. 3,.. Australia 3,.,.. Industry % Change from Same Period Last Year.%.%.% New Zealand 3,.,.. Industry % Change from Last Quarter.% 3.%.% Japan,3.,., 3. Top Global Syndicated Loans * The Global Scorecard comprises deal volume and counts from club and bookrun deals, mirroring the mandated arranger rankings. Closing Date Borrower Target Market Package Amt (US$m) Primary UOP // British American Tobacco PLC United Kingdom 3,. Acquisition Fin. 3// Reckitt Benckiser Group PLC United Kingdom,. Acquisition Fin. // Atlantia SpA Italy,3. Acquisition Fin. /3/ Becton Dickinson & Co,. Acquisition Fin. /3/ WalMart Stores Inc,. // Depository Trust Co,. // Ford Motor Co 3,. // Semyrhamis SA France,3. Other 3// Duke Energy Corp,. // PepsiCo Inc,.

5 First Half Syndicated Loans Managing Underwriters Global Loans Ranking Last Ten Years* Bank of America Merrill Lynch 3 3 Wells Fargo & Co Barclays Rank Deutsche Bank Mitsubishi UFJ Financial Group Mizuho Financial Group Goldman Sachs & Co Credit Suisse 3 *League Table positions reflect consolidation within the banking sector. Rankings shown are as of the current quarter end in each calendar year. 3

6 Americas Proceeds Up % l US Leveraged Lending Up % Latin American Lending Down % First Half Syndicated Loans Managing Underwriters Americas Americas Deals Intelligence Americas Loans s (R) Overall syndicated lending in the Americas during the first half of increased.% compared to total proceeds # of Deals per Imputed Fees (US$m) raised in the same period a year ago, with total volume of US$. trillion from,33 transactions. Bank of America Merrill Lynch, Leveraged lending in the totaled US$. billion from,3 deals, representing a.% increase, from total proceeds raised in the first half a year ago , Wells Fargo & Co, Barclays 3, Loans for General Corporate Purposes led the market in the first half of, accounting for an % share, with Goldman Sachs & Co, proceeds totaling US$ trillion. Financings for Acquisitions and Leveraged Buyouts followed, capturing % and 3% Deutsche Bank, of the market, respectively. RBC Capital Markets, Morgan Stanley 3, Lending in Latin America in the first half of decreased % compared to the same period last year, with total Credit Suisse 3, Mitsubishi UFJ Financial Group 3, proceeds of US$. billion from 3 deals. BMO Capital Markets, Scotiabank 3, Estimated bookrunning fees for the Americas yielded a.% higher total in the first half of compared to the BNP Paribas SA, same period a year ago, with a total of US$. billion, according to estimates. Fees paid to bookrunners for U.S. US Bancorp, TD Securities Inc, leveraged loans increased.% compared to the first half a year ago, totaling US$3. billion. SunTrust Banks, PNC Financial Services Group 3, HSBC Holdings PLC, Mizuho Financial Group, Jefferies LLC 3, Top Americas Syndicated Loans CIBC World Markets Inc, Closing Date Borrower Target Market Package Amt (US$m) Primary UOP zens Financial Group 3, /3/ Becton Dickinson & Co,. Acquisition Fin. KeyBanc Capital Markets Inc 3, /3/ WalMart Stores Inc,. KKR & Co LP, // Depository Trust Co,.,,.3..,3... // Ford Motor Co 3,. Total,3,..,3,.. 3// Duke Energy Corp,. // PepsiCo Inc,. Industry % Change over Same Period Last Year.%.%.% 3/3/ American Honda Finance,. Industry % Change over Last Quarter.% 3.%.% // Pfizer Inc,. // Nissan Motor Co Ltd,. 3// Change Healthcare Holdings LLC,3. Americas Loans by Industry (Proceeds US$b) US Leveraged Volume $3. % $3. % $.3 % $3. % $. % $. % $, $,,,3,,, 3,, $. % $.3 % $. % $3. % $.3 % $. % Proceeds (US$b) $ $,3,,,,3,,, Energy and Power Financials Industrials $3 High Technology Healthcare Materials Consumer Products and Services Media and Entertainment Consumer Staples Retail Telecommunications Real Estate $ 3 Government and Agencies Q Volume (US$b) Q Volume (US$b) Q3 Volume (US$b) Q Volume (US$b) # of deals

7 First Half Syndicated Loans Managing Underwriters Americas Americas Loans Mandated Arrangers (Rc) North America Loans s (R) Proceeds per Mandated Arranger (US$m) # of Deals per MA Imputed Fees (US$m) # of Deals per Imputed Fees (US$m) Mandated Arranger Rank Rank Proceeds Share% Share Ch. DealsShare% # of Deals Fees Share% Share Ch. Rank Rank Proceeds Share% Share Ch. DealsShare% # of Deals Fees Share% Share Ch. Bank of America Merrill Lynch 33, Bank of America Merrill Lynch, , , , , Wells Fargo & Co Barclays,., Wells Fargo & Co Barclays,3. 3, Deutsche Bank, Goldman Sachs & Co, RBC Capital Markets Goldman Sachs & Co,3., Deutsche Bank RBC Capital Markets,3., Morgan Stanley, Morgan Stanley 3, Credit Suisse, Credit Suisse 3, Mitsubishi UFJ Financial Group 3, Mitsubishi UFJ Financial Group 3, US Bancorp 33, BMO Capital Markets, BMO Capital Markets 3 3, US Bancorp 3, Scotiabank 3, Scotiabank, SunTrust Banks, BNP Paribas SA, HSBC Holdings PLC, TD Securities Inc, PNC Financial Services Group, SunTrust Banks, BNP Paribas SA 3, PNC Financial Services Group 3, TD Securities Inc 3, HSBC Holdings PLC, Mizuho Financial Group 3, Mizuho Financial Group, CIBC World Markets Inc, Jefferies LLC 3, Jefferies LLC, CIBC World Markets Inc, zens Financial Group 3 3, zens Financial Group 3, Fifth Third Bancorp, KeyBanc Capital Markets Inc 3, Sumitomo Mitsui Finl Grp Inc, KKR & Co LP, ,,..3.,...,,..3.,... Industry Total,3,..,33 3,.. Total,3,.., 3,.3. Industry % Change over Same Period Last Year.% Industry % Change over Last Quarter.%.% 3.%.%.% Industry % Change over Same Period Last Year.%.%.% Industry % Change over Last Quarter.% 3.%.3% US Loans s (R) US Leveraged Loans s (Ra) # of Deals per Imputed Fees (US$m) Bank of America Merrill Lynch,.3, , Wells Fargo & Co, Barclays 3, Goldman Sachs & Co, Deutsche Bank Morgan Stanley Credit Suisse RBC Capital Markets 3,. 3,.,. 3, Mitsubishi UFJ Financial Group US Bancorp 33,., BNP Paribas SA 3, SunTrust Banks, PNC Financial Services Group Mizuho Financial Group 3,., HSBC Holdings PLC, Jefferies LLC 3, BMO Capital Markets, zens Financial Group, KeyBanc Capital Markets Inc, KKR & Co LP, Macquarie Group 3 3, Scotiabank, UBS, ,3,...,3... Total,,..,,.. # of Deals per Imputed Fees (US$m) Bank of America Merrill Lynch, , Barclays 3, Wells Fargo & Co 3, , Goldman Sachs & Co, Credit Suisse, Deutsche Bank, Morgan Stanley 3, RBC Capital Markets 3, SunTrust Banks, Jefferies LLC, PNC Financial Services Group 3, BMO Capital Markets 3, KKR & Co LP 3, Macquarie Group, zens Financial Group, HSBC Holdings PLC, Mitsubishi UFJ Financial Group, US Bancorp, KeyBanc Capital Markets Inc, BNP Paribas SA, UBS 3, Antares Capital Corp 3, Fifth Third Bancorp, ,...,. 3.. Total,..,3 3,.. Industry % Change over Same Period Last Year.%.%.% Industry % Change over Same Period Last Year.%.% Industry % Change over Last Quarter.%.%.% Industry % Change over Last Quarter.%.%.%.%

8 First Half Syndicated Loans Managing Underwriters Americas US Investment Grade Loans s (Rb) Top Americas Loans Use of Proceeds (US$b) # of Deals per Imputed Fees (US$m) Bank of America Merrill Lynch, , , Wells Fargo & Co, Mitsubishi UFJ Financial Group, BNP Paribas SA Barclays,33., Mizuho Financial Group, US Bancorp 3, PNC Financial Services Group, Morgan Stanley, HSBC Holdings PLC, Deutsche Bank 3, Goldman Sachs & Co, RBC Capital Markets 3, Scotiabank Bank of China Ltd,., Credit Agricole CIB 3, Industrial & Comm Bank China Lloyds Bank Credit Suisse 3 3,33.3 3,. 3, SunTrust Banks 3, Sumitomo Mitsui Finl Grp Inc 3 3, TD Securities Inc Rabobank NV 33 3,., ,.3 3..,..3. Total,.. 3,.. Industry % Change over Same Period Last Year Industry % Change over Last Quarter Proceeds per Mandated Arranger (US$m) # of Deals per MA Imputed Fees (US$m) Mandated Arranger Scotiabank, BBVA Mizuho Financial Group Mitsubishi UFJ Financial Group Santander Itau Unibanco ING Sumitomo Mitsui Finl Grp Inc ABN AMRO Bank 3* Bank of America Merrill Lynch Credit Agricole CIB BNP Paribas SA Banco Nacional de Mexico SNC HSBC Holdings PLC Natixis Deutsche Bank * * RBC Capital Markets * UniCredit * BMO Capital Markets * , Industry Total, Industry % Change over Same Period Last Year Industry % Change over Last Quarter *tie 3.%.% Latin America Loans Mandated Lead Arrangers (R).%.%.%.%.%.% 33.3%.% 3.%.% $. % $. % Americas Yield Type Proceeds (US$b) $. % $3. 3% $,. % $. % General Corporate Purposes Acquisition Financing Working Capital Leveraged Buyout Dividend Recapitalization Sponsored Buyout Project Finance Property Acquisition Refinancing 3 Capital Expenditures Q Q 3Q Q Q Q 3Q Q Q Q 3Q Q Q Q 3Q Q Q Q 3Q Q Q Q 3Q Q Q Q 3Q Q Q Q 3 Americas Imputed Fees Mandated Arrangers Total Imputed Fees (US$b) Highly Leveraged (US$b) Leveraged (US$b) Undisclosed (US$b) Investment Grade (US$b),3 3,,33,3,3,,3, $. $. $. $. $. $. $. $. $. $.,33 3 Total Imputed Fees (US$b) Number of deals First Half 3,,,,,

9 EMEA Borrowing Down % Luxembourg and Netherlands Loans Up Significantly BNP Paribas Top EMEA Fee Earner First Half Syndicated Loans Managing Underwriters Europe, Middle East & Africa EMEA Deals Intelligence EMEA syndicated lending reached US$3.3 billion in the first half of, a decrease of.% from the same period a year ago. Borrowers in the Consumer Staples sector were the most active, accounting for an % share of the market, bolstered by the top two deals of the first half of the year (British American Tobacco s US$3. billion transaction and the US$. billion offering from Reckitt Benckiser). EMEA Use of Proceeds (US$b) General Corporate Purposes Acquisition Financing Financings in Luxembourg (+33%), the Netherlands (+%) and Poland (+%) posted the largest yearonyear gains, while Finland (%), Russian (3%), and United Arab Emirates (%) recorded the steepest yearonyear declines. According to estimates, EMEA arranging fees in the first half decreased.% from last year. The top arrangement fee earner in the EMEA region was BNP Paribas, with US$. million in fees (a.% wallet share). $. % $. 3% Project Finance Other $3. % Working Capital Top EMEA Syndicated Loans (US$m) $3. % Sponsored Buyout British American Tobacco PLC $3,. Refinance Bank Debt Reckitt Benckiser Group PLC Atlantia SpA $,3. $,. Capital Expenditures Semyrhamis SA $,3.3 Dividend Recapitalization Glencore PLC $,33. Fiat SpA $,. Others EMEA s (R) EMEA Mandated Lead Arrangers (R) # of Deals per Imputed Fees (US$m) Proceeds per MLA (US$m) # of Deals per MLA Imputed Fees (US$m) Rank Rank Proceeds Share % Share Ch. Deals hare % # of Deals Fees Share % Share Ch. Mandated Arranger Rank Rank Proceeds Share % Share Ch. DealsShare % # of Deals FeesShare % Share Ch. Bank of America Merrill Lynch 3, BNP Paribas SA 3, HSBC Holdings PLC, HSBC Holdings PLC, Deutsche Bank 3, ING 3 3, Credit Agricole CIB, Credit Agricole CIB, BNP Paribas SA, Deutsche Bank, Societe Generale, Societe Generale, , UniCredit, UniCredit, , ING, Bank of America Merrill Lynch, Natixis, Commerzbank AG 3, Santander, Santander 3, Commerzbank AG, Natixis, Goldman Sachs & Co 3, Barclays 3, Barclays 3, , RBS, RBS, , Sumitomo Mitsui Finl Grp Inc, Credit Suisse, Goldman Sachs & Co 33, Sumitomo Mitsui Finl Grp Inc, Mitsubishi UFJ Financial Group, Nomura, BBVA, Mizuho Financial Group 3, Mizuho Financial Group, BBVA 3, Credit Suisse, Lloyds Bank 3, Banca IMI (Intesa Sanpaolo), Bank of China Ltd 3 3, Bank of China Ltd 3 3, Rabobank NV 3 3, Standard Chartered PLC, Banca IMI (Intesa Sanpaolo) 3, CaixaBank SA 3, , ,3...,. 3.. Total 3,.. 3,.. Industry Total 3,.. 3,.. Industry % Change from Same Period Last Year.%.3%.% Industry % Change from Last Quarter.%.%.% Industry % Change from Same Period Last Year Industry % Change from Last Quarter.% 3.%.%.%.%.% Club deal volume is not included in Thomson Reuters' League Tables; however, Mandated Lead Arrangers volumes include both bookrun and club transactions. *tie

10 European Leveraged Loans (P) # of Deals per Imputed Fees (US$m) Rank Rank Proceeds Share % Share Ch. Deals hare % # of Deals Fees Share % Share Ch. Credit Agricole CIB 3, BNP Paribas SA, , Goldman Sachs & Co, Societe Generale, Natixis, Bank of America Merrill Lynch, Deutsche Bank, Nomura, HSBC Holdings PLC, Barclays 3, Credit Suisse, UniCredit 3 3, Morgan Stanley 3, ING, RBS, Santander, UBS 3, CaixaBank SA, , Bankia, Rabobank NV, RBC Capital Markets 3 3, Scotiabank 3, Commerzbank AG, , Total,.... Industry % Change from Same Period Last Year.%.%.% Industry % Change from Last Quarter.% 3.%.% EMEA Sponsored Loans (P3) Industry % Change from Same Period Last Year.%.%.% Industry % Change from Last Quarter.%.% 3.% *tie EMEA Quarterly Syndicated Loan Volume $, $, $3, $3, $, $, $, 3 $, $,. EMEA Syndicated Loans by Industry (US$b) # of Deals per Imputed Fees (US$m) Rank Rank Proceeds Share % Share Ch. Deals hare % # of Deals Fees Share % Share Ch. BNP Paribas SA, Credit Agricole CIB, Natixis 3, Societe Generale, Deutsche Bank, Nomura, , Credit Suisse 3, Goldman Sachs & Co, HSBC Holdings PLC, Bank of America Merrill Lynch, ING, Morgan Stanley 3 3, UniCredit 3, UBS, Barclays, , RBS, Rabobank NV RBC Capital Markets Bank of Ireland Sumitomo Mitsui Finl Grp Inc KKR & Co LP Credit Mutuel SA Santander , Total,.... Proceeds (US$m) $ EMEA Proceeds (US$m) Number of deals First Half Syndicated Loans Managing Underwriters Europe, Middle East & Africa $. $. $. Consumer Staples % % 3% $. Industrials % Energy and Power QQQ3QQQQ3QQQQ3QQQQ3QQQQ3QQQQ3QQQQ3QQQQ3QQQ 3 3 EMEA Imputed Fees Total Imputed Fees (US$m) $3, $, $, $ $. % $., % $., % $. % $3. % $3. % Total Imputed Fees (US$m) Number of Deals $. 3%,3.3,.,.,3.,.,.,.,.,3.,. $. %,3 Financials Materials Healthcare Telecommunications Retail High Technology Consumer Products and Services Media and Entertainment Real Estate Government and Agencies 3 3

11 Asian Syndicated Loans Down l Refinancing at % of the Market l Australian Volume Increases by % First Half Syndicated Loans Managing Underwriters Asia (exjapan) Asia & Australia Deals Intelligence Syndicated lending in Asia (ex Australia) reached US$. billion from deals, down.% compared to the US$3. billion raised in the same period last year. Companies from the Financials sector borrowed US$3. billion, making it the most active industry in terms of volume in the region. Alibaba Group s US$. billion deal was the largest syndicated deal in Asia during the first six months of. Proceeds from the loan were to used for general corporate purposes. Australian syndicated lending reached US$3. billion from 3 deals in the first half of, marking an increase of.% compared to the same period last year. Borrowing in the Financials sector dominated Australian syndicated loan activity during the first half, accounting for % of all lending in the region. The AU$. billion (US$. billion) borrowed by Network Finance was the largest Australian syndicated lending transaction during the first half of the year. The proceeds were raised to fund the acquisition of a.% interest in the Australian stateowned Endeavour Energy by an investor group led by Macquarie Group's Infrastructure arm. According to estimates, fees from Asian syndicated lending totaled US$.3 billion in the first half of the year, increasing.% compared to the same time last year. In Australia, estimated fees were US$. million, an increase of US$. million over the same period in the previous year. Top Asia Syndicated Loans (Ex Japan, Ex Australia) Alibaba.com Ltd Tencent Asset Mgmt Ltd Huadian Jinsha Hydropower Ant Financial Services Group CT Brilliant Invest Hldg Ltd Shanghai Metro Line Dvlp PT Bhumi Jati Power Sun Hung Kai Properties Ltd Guangzhou Subway Co BPRL $3,. $3,. $3,3.3 $3,3. $3,3. $,3. $,. $,3. Asia Loans s (US$, EURO, JPY, A$, HK$ & S$) (S3i) $,. $,. # of Deals per Arranger Imputed Fees (US$m) HSBC Holdings PLC, Standard Chartered PLC 3, Bank of China Ltd 3 3, China Construction Bank, State Bank of India 3, ANZ Banking Group, Industrial & Comm Bank China, DBS Group Holdings, Mitsubishi UFJ Financial Group, China Merchants Bank 3, Malayan Banking Bhd, , Credit Suisse 3, ING, Fubon Financial Holding Co Ltd, Sumitomo Mitsui Finl Grp Inc, Mizuho Financial Group, China Everbright Bank ABN AMRO Bank Mega Financial Holding Co Top Twenty Total, Total, Asia Loans s (All Currencies) (Sc) # of Deals per Imputed Fees (US$m) Bank of China Ltd, Industrial & Comm Bank China, State Bank of India 3, HSBC Holdings PLC, Standard Chartered PLC, Axis Bank Ltd 3, Agricultural Bank of China 3, China Construction Bank, China Development Bank 3, Mitsubishi UFJ Financial Group, ANZ Banking Group 3, DBS Group Holdings, Bank of Shanghai 3, China Merchants Bank, Malayan Banking Bhd, , Credit Suisse, Fubon Financial Holding Co Ltd, Bank of Taiwan, Agricultural Dev Bank of China, ING 3, Mega Financial Holding Co, Mizuho Financial Group 3, Sumitomo Mitsui Finl Grp Inc, Korea Development Bank, , Total, Industry % Change from Same Period Last Year.% Industry % Change from Last Quarter.3% Asia Loans Mandated Arrangers (All Currencies) (Sb).%.%.3%.% Proceeds per Mandated Arranger (US$m) # of Deals per Arranger Imputed Fees (US$m) Mandated Arranger Bank of China Ltd, State Bank of India 3, Industrial & Comm Bank China 3, HSBC Holdings PLC, China Development Bank 3, DBS Group Holdings, Mitsubishi UFJ Financial Group, Standard Chartered PLC, Axis Bank Ltd 3, ANZ Banking Group 3, China Construction Bank 3, OverseaChinese Banking 3, Sumitomo Mitsui Finl Grp Inc 3 3, Mizuho Financial Group 3, China Merchants Bank, United Overseas Bank Ltd, Agricultural Bank of China, Shanghai Pudong Development Bk, , China CITIC Bank Corp Ltd, Bank of Communications Co Ltd, Bank of East Asia Ltd, BNP Paribas SA 3, Korea Development Bank, Mega Financial Holding Co, , Industry Total,.. 3,33.. Industry % Change from Same Period Last Year Industry % Change from Last Quarter.% 3.%.%.%.3%.% Industry % Change from Same Period Last Year.%.% Industry % Change from Last Quarter.%.3%.% 3.%

12 Australia Loans s (All Currencies) (S) First Half Syndicated Loans Managing Underwriters Asia (exjapan) & Australia Australia Loans Mandated Arrangers (All Currencies) (Sa) # of Deals per Imputed Fees (US$m) Proceeds per Mandated Arranger (US$m) # of Deals per Arranger Imputed Fees (US$m) Mandated Arranger Commonwealth Bank of Australia 3 3, Commonwealth Bank of Australia 3, National Australia Bank, ANZ Banking Group 3 3, Westpac Banking 3, Westpac Banking 3, ANZ Banking Group, National Australia Bank, HSBC Holdings PLC China Construction Bank, Barclays Sumitomo Mitsui Finl Grp Inc, Bank of China Ltd, Credit Agricole CIB HSBC Holdings PLC, Sumitomo Mitsui Finl Grp Inc Mitsubishi UFJ Financial Group ING Credit Agricole CIB Top Ten Total, Top Ten Total, Total,...3. Industry Total 3, Industry % Change from Same Period Last Year Industry % Change from Last Quarter *tie.%.% 3.% 3.%.%.% Industry % Change from Same Period Last Year.% Industry % Change from Last Quarter.%.%.%.3%.3% Top Australia Syndicated Loans (US$m) Asian Loans by Maturity Date Network Finance Co Pty Ltd Ichthys LNG Pty Ltd Australian Registry Fin Pty $,3. $3,. $,. Proceeds (US$b) WCX M Finco Pty Ltd Macquarie Group Ltd SPIC Pacific Hydro Pty Ltd Telstra Corp Ltd Optus Finance Pty Ltd Sydney Airport Fin Co Pty Ltd $,3. $,3. $,. $,3.3 $,3.3 $,. Proceeds (US$b) 3 $. $. $3. $3. $. Australian Loans Proceeds by Industry (US$m) Asian Loans by Currency (%) First Half $,. % $,3. % $,. % Financials Energy and Power Industrials Telecommunications 3.% 3.%.% 3.% 3.% 3.% 3.% 3.% 3.% 3.% $,. % $,. % $,. % Government and Agencies Real Estate.%.%.% 3.% 3.%.%.3%.% 3.%.3% 3 Local Currency G3

13 First Half Syndicated Loans Managing Underwriters Japan Japanese Syndicated Lending down 3% USJ Refinancing Largest Deal Japan Deals Intelligence Japan Loans s (Sb) Japanese syndicated lending for the first half of reached US$. billion from deals, representing a 3.% decrease in # of Deals per proceeds and a.% decrease in number of deals compared to the same period last year. USJ Co Ltd US$ billion refinancing deal Market Market # of Market Change in led the market, which was arranged by Bank of TokyoMitsubishi UFJ, Mizuho Bank Ltd, and Sumitomo Mitsui Banking Corp. No non Rank Rank ProceedsShare % Share Ch. Deals Sh % # of Deals Japanese borrowers accessed the Japanese market in the second quarter. The last quarter of purely domestic Japanese loan activity Mizuho Financial Group 3, Sumitomo Mitsui Finl Grp Inc 33, was the second quarter of. Mitsubishi UFJ Financial Group 3 3, , Borrowing in the Industrial sector secured.% of the Japanese loan activity, with US$. billion during the first six months of, representing a.% decrease compared to the same period in. Mitsubishi Heavy Industries' US$ billion facility in June contributed to this activity. Development Bank of Japan Inc Sumitomo Mitsui Trust Holdings Concordia Financial Group,3.3, Aozora Bank Ltd.... With a.% market share during the first half of the year, working capital remained the primary driver for Japanese syndicated loans Credit Agricole CIB.... Resona Holdings Inc activity, with proceeds worth US$3. billion a.% increase compared to the same period last year. Six out of the top ten deals during the first half of were attributed to working capital. BNP Paribas SA Shinsei Bank Sapporo Hokuyo Holdings Inc Top Ten Deals CTBC Financial Holding Co Ltd Closing Date Borrower Package Amt (US$m) Primary UOP Fukuoka Financial Group Inc // USJ Co Ltd,3. Refinancing NishiNippon Finl Hldg Inc.... /3/ JXTG Holdings Inc,. Working Capital Shikoku Bank Ltd.... 3/3/ // CK Holdings Sumitomo Corp 3,.,. Leveraged Buyout Working Capital Shinkin Central Bank Daishi Bank Ltd /3/ Marubeni Corp,3. Working Capital Top Twenty Total,...3 // Sony Corp,.3 Total,3.. /3/ TOSHIBA Corp,. Working Capital 3/3/ Takeda Pharmaceutical Co Ltd,. Acquisition Fin. Industry % Change from Same Period Last Year.%.% // NEC Corp,. Working Capital Industry % Change from Last Quarter.%.% // Mitsubishi Heavy Industries,. Working Capital Overall Japan Loans Volume Japan Loans Proceeds by Industry (US$b) $3 Q Proceeds (US$b) Q3 Proceeds (US$b) Q Proceeds (US$b) Q Proceeds (US$b), Proceeds (US$b) $3 $ $ $,,,,,,,,,, # of Deals $..% $..3% $..% $..% $3..%. $.3.3% $..% $. 3.% $. 3.% $ Industrials Energy and Power $ Materials High Technology Financials Consumer Staples Retail Real Estate $ 3 Healthcare Media and Entertainment Consumer Products and Services Government and Agencies

14 First Half Syndicated Loans Managing Underwriters Japan Japan Loan Volume NonJapanese Borrowers Japan Loans Mandated Arrangers (Sa) Proceeds (US$ m) $, $, $, $, $, $3, $, $, $ Proceeds (US$m) No. of Deals Q Q Q3 Q Q Q Q3 Q Q Q Q3 Q Q Q Q3 Q Q Q Q3 Q Q Q Q3 Q Q Q 3 3 Proceeds per Mandated Arranger (US$m) # of Deals per MA Market Market # of Market Change in Mandated Arranger Rank Rank ProceedsShare % Share Ch. Deals Sh % # of Deals Sumitomo Mitsui Finl Grp Inc 3, Mizuho Financial Group 3, Mitsubishi UFJ Financial Group 3 3, Development Bank of Japan Inc,..3.. Sumitomo Mitsui Trust Holdings,....,.... Credit Agricole CIB...3. Concordia Financial Group.... Aozora Bank Ltd Resona Holdings Inc.... BNP Paribas SA.... Shinsei Bank HSBC Holdings PLC 3 * CTBC Financial Holding Co Ltd.... Sapporo Hokuyo Holdings Inc Hokuhoku Financial Group Inc *.... Fukuoka Financial Group Inc NishiNippon Finl Hldg Inc Taishin International Bank *.... ING *.... Commerzbank AG *.... Shikoku Bank Ltd Daishi Bank Ltd Shinkin Central Bank 3....,3.3.. Industry Total,3.. Industry % Change from Same Period Last Year Industry % Change from Last Quarter 3.%.%.%.% *tie Japan Loan Volume by Maturity Date Japan Loans Top Uses of Proceeds (US$b) Proceeds (US$b) $ $ $ $ $ $ $ $ $ Proceeds(US$b) 3 3 3,,,,,, $..3% $..% $..% $..3% $..% $..% $3..% $..%. $3..% Working Capital General Corporate Purposes Capital Expenditures Refinancing Refinance Bank Debt Acquisition Financing Leveraged Buyout $ $ & Beyond Project Finance Property Acquisition

15 First Half Syndicated Loans Managing Underwriters Ranking Criteria Summary If you would like to participate in the submission process, receive quarterly press releases, or have questions about league table criteria please contact: Americas Salvatore Reres Tel: salvatore.reres@thomsonreuters.com Europe Ewelina Jarecka Tel: + ewelina.jarecka@thomsonreuters.com AsiaPacific Emily Au Tel: emily.au@thomsonreuters.com Japan Ai Hashimoto Tel: +3 ai.hashimoto@thomsonreuters.com Database coverage includes all loan transactions that have reached financial close by the submission deadline and of which Thomson Reuters has been made aware. All current and previous year's data is as of :am EDT on June 3,. Global, Americas, EMEA, AsiaPacific and Japan bookrunner and mandated arranger league table volumes and rankings are based on general close date instead of financial close date. Bilateral, selfarranged, commercial and unknown loans are excluded from league tables as well as loans with a maturity of less than days. All league tables are based on deal proceeds unless otherwise specified. Regional league tables are based on Target Market. Market Segments (i.e. leveraged, investment grade) in this report are based on SDC 'yield type' which is defined separately from Thomson Reuters LPC 'market segments'. Please speak to your contributor relations representative for more details. league tables will give full credit to the bookrunner, equal if joint. In cases of consolidation, credit will be given to the surviving/parent firm Mandated Arranger league tables will give equal credit to the NonAmericas mandated arranger and equal credit to the Americas Tier agent. In cases of consolidation, credit will be givien to the surviving/parent firm. Imputed fees are generated using a proprietary Thomson Reuters algorithm when spreads or fees are not disclosed. Deal fees are on a gross basis before all expenses. Each underwriter or advisor is allocated its share of deal fees using the Thomson Reuters allocation methodology, based on the number of underwriters or advisors on the deal and their role. No fees are allocated to nonlead loan syndicate members. Fee estimates presented in the Quarterly Review for deals updated prior to February st, were generated by Freeman Consulting in partnership with Thomson Reuters. NonUS dollar denominated transactions are converted to the US dollar equivalent at the time of pricing. league tables include club syndicate transactions that are sold down in the syndication process to firms that were not part of the original club syndicate. Mandated Arranger league tables include all club syndicate transactions, regardless of selldown process. and Mandated Arranger league tables only include amendments that require % lender vote for the following amendments: decrease in pricing, change in tenor if maturity is extended by a period of more than days, guarantor or collateral release. An increase in deal size after syndication has ended will be reflected as an add on tranche. League table volumes for Mitsubishi UFJ Financial Group and Morgan Stanley, included herein, reflect changes after the commencement of their jointly established securities firms in Japan: () Mitsubishi UFJ Morgan Stanley Securities and () Morgan Stanley MUFG Securities. Credit for the newly established joint ventures rolls up to Morgan Stanley. For Japanese involvement league tables Morgan Stanley will be represented as "Mitsubishi UFJ Morgan Stanley". Thomson Reuters Investment Banking loans data is compiled in conjunction with Loan Pricing Corporation (LPC). In combination, Thomson Reuters Investment Banking and LPC offer the most comprehensive and accurate view of the syndicated loans market available. While Thomson Reuters has used reasonable endeavors to ensure that the information provided in this document is accurate and up to date as at the time of issue, neither Thomson Reuters nor its third party content providers shall be liable for any errors, inaccuracies or delays in the information, nor for any actions taken in reliance thereon, nor does it endorse any views or opinions of any third party content provider. Thomson Reuters disclaims all warranties, express or implied, as to the accuracy or completeness of any of the content provided, or as to the fitness of the content for any purpose to the extent permitted by law. The content herein is not appropriate for the purposes of making a decision to carry out a transaction or trade and does not provide any form of advice (investment, tax, legal) amounting to investment advice, nor make any recommendations or solicitations regarding particular financial instruments, investments or products, including the buying or selling of securities. Thomson Reuters has not undertaken any liability or obligation relating to the purchase or sale of securities for or by any person in connection with this document. Thomson Reuters. All rights reserved. Thomson Reuters and the Thomson Reuters logo are registered trademarks and trademarks of Thomson Reuters and its affiliated companies. Any third party name or mark herein belongs to the relevant third party. 3

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