GLOBAL M&A MARKET REVIEW LEGAL RANKINGS. 1 st 3Q

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1 GLOBAL M&A MARKET REVIEW LEGAL INGS 1 st 3Q 1

2 1 st 3Q GLOBAL M&A LEGAL ADVISORY INGS CONTENTS 1. Introduction 2. Global M&A Heat Map 3. Global M&A Regional Review 4. Global M&A League Tables 6. Americas M&A Regional Review 7. Americas M&A League Tables 9. EMEA M&A Regional Review 10. EMEA M&A League Tables 14. APAC M&A Regional Review 15. APAC M&A League Tables 20. Disclaimer The Bloomberg M&A Advisory League Tables are the definitive publication of M&A advisory rankings. The tables represent the top financial and legal advisors across a broad array of deal types, regions, and industry sectors. The rankings data is comprised of mergers, acquisitions, divestitures, spin-offs, debt-for-equityswaps, joint ventures, private placements of common equity and convertible securities, and the cash injection component of recapitalization according to Bloomberg standards. Bloomberg M&A delivers real-time coverage of the M&A market from nine countries around the world. We provide a global perspective and local insight into unique deal structures in various markets through a network of over 800 financial and legal advisory firms, ensuring an accurate reflection of key market trends. Our quarterly league table rankings are a leading benchmark for legal and financial advisory performance, and our Bloomberg Brief newsletter provides summary highlights of weekly M&A activity and top deal trends. Visit {NI LEAG CRL <GO>} to download copies of the final release and a full range of market specific league table results. On the web, visit: 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 North America Nageen Qasim nqasim1@bloomberg.net EMEA Madeeha Ahmad mchaudhry13@bloomberg.net Asia Pacific Sayaka Sakashita ssakashita@bloomberg.net General M&A queries may be submitted to: m-a@bloomberg.net, malondon@bloomberg.net, maasia@bloomberg.net Bloomberg Finance L.P. All rights reserved. 1

3 Global M&A Heat Map North America USD 1.9T 1. Sullivan & Cromwell LLP 17.7% 2. Latham & Watkins LLP 17.4% 3. Wachtell Lipton Rosen & Katz 17.2% Western Europe USD 959.4B 1. Freshfields Bruckhaus Deringer LLP 20.4% 2. Linklaters LLP 12.1% 3. Shearman & Sterling LLP 11.4% Eastern Europe USD 52.6B 1. White & Case LLP 10.4% 2. Skadden Arps Slate Meagher & Flom L 8.8% 3. Kirkland & Ellis LLP 8.3% Latin America USD 139.5B 1. Mattos Filho Veiga Filho Marrey Quiroga 13.9% 2. White & Case LLP 12.5% 3.Davis Polk & Wardwell 12.3% Middle East & Africa USD 126.1B 1. Allen & Overy LLP 20.3% 2. Kirkland & Ellis LLP 18.2% 3. Fried Frank Harris Shriver & Jacobson 18.1% Asia Pacific USD 1.1T 1. Sullivan & Cromwell LLP 11.3% 2. Latham & Watkins LLP 10.6% 3. Linklaters LLP 9.7% Deal volume and adviser market share for any regional involvement (target, seller, or acquirer) for 1st 3Q. 2

4 Global M&A Regional Review Global M&A deal volume reached $3.0 trillion in the first 3Q, representing a 26.8% increase compared to the same period last year. Deals involving targets based in North America accounted for $1.5 trillion of the global activity, representing a 51.3% increase year-over-year. Cross border deals accounted for 46.1% of all announced deals. Takeda Pharmaceutical Co Ltd's pending acquisition of $80.4 billion of Shire PLC was the largest cross border deal in the first 3Q, making it the largest company takeover by a Japanese company on record. Transactions involving targets based in the technology sector increased 74.8% year-over-year to $251.1 billion. Broadcom Inc's announced acquisition of CA Inc for $18.1 billion was the largest deal for the technology sector this year. Global M&A: Highlights of 1st 3Q Summary Date Target Acquirer Seller Total Value (Mln.) Industry Global M&A: Premium Breakdown Global M&A: Industry Breakdown Amount (Bln.) % of Total Number of deals 32,253 Takeda Pharmaceutical Co Financial $ % 5.9% 5/8/ Shire PLC - $80,434.8 Volume (Bln.) $3,027.4 Ltd Consumer Non-cyclical $ % 40.6% Avg Deal Size (Mln.) $93.8 Communications $ % 73.8% 3/8/ Express Scripts Holding Co Cigna Corp - $68,375.7 Energy $ % 50.8% Top Adviser Industrial $ % -8.6% 8/1/ Energy Transfer Partners LP Energy Transfer Equity LP - $59,388.2 Latham & Watkins LLP Consumer Cyclical $ % -3.4% Number of deals 298 Technology $ % 74.8% 4/29/ Sprint Corp T-Mobile US Inc - $57,805.6 Volume (Bln.) $351.8 Basic Materials $ % 130.9% Avg Deal Size (Bln.) $1.2 Utilities $ % 27.2% 4/25/ Sky PLC Comcast Corp - $50,714.3 Diversified $ % -52.5% 39% 3% 1% 1% 20% 36% 0-10% 10-25% 25-50% 50-75% % 100%+ % YoY Change Global M&A Review 1st 3Q Global M&A: Quarterly Volume $1,400 14,000 $1,200 12,000 $1,000 10,000 $800 8,000 $600 6,000 $400 4,000 $200 2,000 $ Q Q Q Q3 Q3 Q3 Volume $(Bln.) Deal Count Quarterly Volume represents any involvement (target, seller, or acquirer). Global M&A: Deal Type Breakdown Deal Type Amount (Bln.) % Change Deal Count % Change Volume Company Takeover $1, % 41.2% Cross Border $1, % 27.4% Private Equity $ % 12.8% Asset sale $ % 16.9% Tender Offer $ % 17.2% Venture Capital $ % 51.3% Spin-off $ % -29.4% Minority purchase $ % 25.4% Majority purchase $ % 7.0% 3

5 Global Announced Deals (By Volume) 01/01/ - 09/30/ Global Announced Deals (By Deal Count) 01/01/ - 09/30/ Latham & Watkins LLP , Jones Day , Sullivan & Cromwell LLP , Kirkland & Ellis LLP , Cleary Gottlieb Steen & Hamilton LLP , Latham & Watkins LLP , Wachtell Lipton Rosen & Katz , Goodwin Procter LLP , Skadden Arps Slate Meagher & Flom LLP , McGuireWoods LLP , Davis Polk & Wardwell LLP , Baker & McKenzie LLP , Simpson Thacher & Bartlett LLP , Allen & Overy LLP , White & Case LLP , White & Case LLP , Cravath Swaine & Moore LLP , CMS , Freshfields Bruckhaus Deringer LLP , Clifford Chance LLP , Fried Frank Harris Shriver & Jacobson LLP , Orrick Herrington & Sutcliffe LLP , Linklaters LLP , Skadden Arps Slate Meagher & Flom LLP , Weil Gotshal & Manges LLP , Weil Gotshal & Manges LLP , Kirkland & Ellis LLP , Herbert Smith Freehills LLP , Shearman & Sterling LLP , DLA Piper LLP , Slaughter and May , Linklaters LLP , Paul Weiss Rifkind Wharton & Garrison LLP , Morgan Lewis & Bockius LLP , Torys LLP , Cooley LLP , Gibson Dunn & Crutcher LLP , Paul Weiss Rifkind Wharton & Garrison LLP , Herbert Smith Freehills LLP , Simpson Thacher & Bartlett LLP , TOTAL 3,025,812 32,280 2,387,571 TOTAL 3,025,812 32,280 2,387,571 Global Announced Deals- Principals (By Volume) 01/01/ - 09/30/ Global Announced Deals- Principals (By Deal Count) 01/01/ - 09/30/ Wachtell Lipton Rosen & Katz , Jones Day , Skadden Arps Slate Meagher & Flom LLP , Kirkland & Ellis LLP , Latham & Watkins LLP , Latham & Watkins LLP , Freshfields Bruckhaus Deringer LLP , Goodwin Procter LLP , Sullivan & Cromwell LLP , McGuireWoods LLP , Davis Polk & Wardwell LLP , Baker & McKenzie LLP , Linklaters LLP , Allen & Overy LLP , Kirkland & Ellis LLP , CMS , Slaughter and May , Orrick Herrington & Sutcliffe LLP , Simpson Thacher & Bartlett LLP , Clifford Chance LLP , Torys LLP , Skadden Arps Slate Meagher & Flom LLP , Paul Weiss Rifkind Wharton & Garrison LLP , White & Case LLP , Cleary Gottlieb Steen & Hamilton LLP , Weil Gotshal & Manges LLP , Weil Gotshal & Manges LLP , Herbert Smith Freehills LLP , Vinson & Elkins LLP , DLA Piper LLP , Herbert Smith Freehills LLP , Linklaters LLP , Richards Layton & Finger PA , Morgan Lewis & Bockius LLP , Jones Day , Cooley LLP , Potter Anderson & Corroon LLP , Paul Weiss Rifkind Wharton & Garrison LLP , Goodwin Procter LLP , Dentons , TOTAL 2,259,673 8,110 1,765,447 TOTAL 2,259,673 8,110 1,765,447 4

6 Cross Border Announced Deals (By Volume) 01/01/ - 09/30/ Global Private Equity Deals (By Volume) 01/01/ - 09/30/ Sullivan & Cromwell LLP , Simpson Thacher & Bartlett LLP , Freshfields Bruckhaus Deringer LLP , Kirkland & Ellis LLP , Davis Polk & Wardwell LLP , Latham & Watkins LLP , Linklaters LLP , Weil Gotshal & Manges LLP , Latham & Watkins LLP , Wachtell Lipton Rosen & Katz , Slaughter and May , Sullivan & Cromwell LLP , Weil Gotshal & Manges LLP , Gibson Dunn & Crutcher LLP , Herbert Smith Freehills LLP , White & Case LLP , Kirkland & Ellis LLP , Linklaters LLP , Fried Frank Harris Shriver & Jacobson LLP , Paul Weiss Rifkind Wharton & Garrison LLP , Wachtell Lipton Rosen & Katz , Davis Polk & Wardwell LLP , Shearman & Sterling LLP , Skadden Arps Slate Meagher & Flom LLP , Nagashima Ohno & Tsunematsu , Fried Frank Harris Shriver & Jacobson LLP , Nishimura & Asahi , Clifford Chance LLP , Mori Hamada & Matsumoto , Torys LLP , Barbosa Mussnich & Aragao , Allen & Overy LLP , Skadden Arps Slate Meagher & Flom LLP , Freshfields Bruckhaus Deringer LLP , Mourant Ozzannes , Osler Hoskin & Harcourt LLP , Cleary Gottlieb Steen & Hamilton LLP , Hogan Lovells US LLP , Allen & Overy LLP , Cleary Gottlieb Steen & Hamilton LLP , TOTAL 1,395,774 11,805 1,096,213 TOTAL 783,049 9, ,273 5

7 Americas M&A Regional Review M&A deal volume in the Americas increased by 48.2% to $1.6 trillion compared to the same period last year. Transactions targeting companies in the energy sector rose by 60.3% to $260.8 billon. The announced acquisition of Energy Transfer Partners LP by Energy Transfer Equity LP for $59.4 billion was the largest transaction in the sector. The United States contributed to 87.5% of the region's total and continued to be the most targeted country for M&A transactions. The consumer, non-cyclical and financial sectors were the most targeted industries in the region, contributing 24.8% and 19.8% to the overall deal volume, respectively. Morgan Stanley ranked as the top financial adviser in the first 3Q, accounting for 32.9% of the market share and advising on 127 deals in the region. Americas M&A: Highlights of 1st 3Q Country Total Value Summary Date Target Acquirer Seller (Mln.) Industry Americas M&A: Country Breakdown United States $1, % 52.0% Canada $ % 21.1% Brazil $ % -13.9% Bermuda $ % % British Virgin Islands $ % 66.4% Chile $ % 7.8% Mexico $ % -47.8% Colombia $ % -45.4% Amount (Bln.) % of Total Number of deals 13,738 Takeda Pharmaceutical Co Consumer Non-cyclical $ % 71.3% 5/8/ Shire PLC - $80,434.8 Volume (Bln.) $1,563.0 Ltd Financial $ % 55.8% Avg Deal Size (Mln.) $113.6 Energy $ % 61.2% 3/8/ Express Scripts Holding Co Cigna Corp - $68,375.7 Technology $ % 176.8% Top Adviser Communications $ % 59.9% 8/1/ Energy Transfer Partners LP Energy Transfer Equity LP - $59,388.2 Cleary Gottlieb Steen & Hamilton LLP Industrial $ % -13.6% Number of deals 46 Consumer Cyclical $ % -7.3% 4/29/ Sprint Corp T-Mobile US Inc - $57,805.6 Volume (Bln.) $320.6 Basic Materials $ % 157.7% Avg Deal Size (Bln.) $6.9 Utilities $ % -29.9% 4/30/ Andeavor Marathon Petroleum Corp - $28,993.5 Diversified $ % 183.5% Amount (Bln.) % of Total Americas M&A: Industry Breakdown % YoY Change % YoY Change Global M&A Review 1st 3Q Americas M&A: Quarterly Volume $700 5,000 $600 4,000 $500 $400 3,000 $300 2,000 $200 $100 1,000 $ Q Q Q Q3 Q3 Q3 Volume $(Bln.) Deal Count Quarterly Volume represents any involvement (target, seller, or acquirer). Deal Type Americas M&A: Deal Type Breakdown Amount (Bln.) % Change Deal Count % Change Volume Company Takeover $1, % 58.2% Cross Border $ % 37.4% Private Equity $ % 13.6% Asset sale $ % 17.0% Tender Offer $ % -14.0% Venture Capital $ % 26.1% Spin-off $ % -24.0% Minority purchase $ % 49.7% Majority purchase $ % 127.9% 6

8 US Announced Deals (By Volume) 01/01/ - 09/30/ US Announced Deals (By Deal Count) 01/01/ - 09/30/ Sullivan & Cromwell LLP , Kirkland & Ellis LLP , Latham & Watkins LLP , Jones Day , Wachtell Lipton Rosen & Katz , Latham & Watkins LLP , Cleary Gottlieb Steen & Hamilton LLP , McGuireWoods LLP , Davis Polk & Wardwell LLP , Goodwin Procter LLP , Skadden Arps Slate Meagher & Flom LLP , Skadden Arps Slate Meagher & Flom LLP , Simpson Thacher & Bartlett LLP , Cooley LLP , Fried Frank Harris Shriver & Jacobson LLP , Morgan Lewis & Bockius LLP , Cravath Swaine & Moore LLP , Paul Weiss Rifkind Wharton & Garrison LLP , White & Case LLP , Simpson Thacher & Bartlett LLP , Weil Gotshal & Manges LLP , Gibson Dunn & Crutcher LLP , Kirkland & Ellis LLP , Weil Gotshal & Manges LLP , Paul Weiss Rifkind Wharton & Garrison LLP , DLA Piper LLP , Shearman & Sterling LLP , Sullivan & Cromwell LLP , Vinson & Elkins LLP , Ropes & Gray LLP , Torys LLP , Orrick Herrington & Sutcliffe LLP , Richards Layton & Finger PA , White & Case LLP , Linklaters LLP , Sidley Austin LLP , Potter Anderson & Corroon LLP , Davis Polk & Wardwell LLP , Gibson Dunn & Crutcher LLP , Vinson & Elkins LLP , TOTAL 1,775,468 14,648 1,270,770 TOTAL 1,775,468 14,648 1,270,770 US Announced Deals- Principals (By Volume) 01/01/ - 09/30/ US Announced Deals- Principals (By Deal Count) 01/01/ - 09/30/ Wachtell Lipton Rosen & Katz , Kirkland & Ellis LLP , Skadden Arps Slate Meagher & Flom LLP , Jones Day , Latham & Watkins LLP , Latham & Watkins LLP , Sullivan & Cromwell LLP , McGuireWoods LLP , Davis Polk & Wardwell LLP , Goodwin Procter LLP , Kirkland & Ellis LLP , Morgan Lewis & Bockius LLP , Simpson Thacher & Bartlett LLP , Skadden Arps Slate Meagher & Flom LLP , Paul Weiss Rifkind Wharton & Garrison LLP , Cooley LLP , Vinson & Elkins LLP , Paul Weiss Rifkind Wharton & Garrison LLP , Richards Layton & Finger PA , Simpson Thacher & Bartlett LLP , Torys LLP , Weil Gotshal & Manges LLP , Linklaters LLP , DLA Piper LLP , Weil Gotshal & Manges LLP , Gibson Dunn & Crutcher LLP , Potter Anderson & Corroon LLP , Orrick Herrington & Sutcliffe LLP , Cleary Gottlieb Steen & Hamilton LLP , Ropes & Gray LLP , Freshfields Bruckhaus Deringer LLP , Sidley Austin LLP , Jones Day , Sullivan & Cromwell LLP , Slaughter and May , Hogan Lovells US LLP , Goodwin Procter LLP , Vinson & Elkins LLP , Cooley LLP , McDermott Will & Emery LLP Inc , TOTAL 1,507,266 4,182 1,077,750 TOTAL 1,507,266 4,182 1,077,750 7

9 Canada Announced Deals (By Volume) 01/01/ - 09/30/ Canada Announced Deals (By Deal Count) 01/01/ - 09/30/ Torys LLP , Blake Cassels & Graydon LLP , Sullivan & Cromwell LLP , Stikeman Elliott LLP , Weil Gotshal & Manges LLP , Gowling WLG Canada LLP , Osler Hoskin & Harcourt LLP , Osler Hoskin & Harcourt LLP , McCarthy Tetrault LLP , Miller Thomson LLP , Simpson Thacher & Bartlett LLP , McCarthy Tetrault LLP , Stikeman Elliott LLP , Torys LLP , Norton Rose Fulbright LLP , Davies Ward Phillips & Vineberg LLP , Wachtell Lipton Rosen & Katz , Norton Rose Fulbright LLP , White & Case LLP , Jones Day , Blake Cassels & Graydon LLP , Cassels Brock & Blackwell LLP , Vinson & Elkins LLP , Sullivan & Cromwell LLP , Gibson Dunn & Crutcher LLP , Kirkland & Ellis LLP , King & Wood Mallesons , Borden Ladner Gervais LLP , Davies Ward Phillips & Vineberg LLP , Orrick Herrington & Sutcliffe LLP , Paul Weiss Rifkind Wharton & Garrison LLP , Weil Gotshal & Manges LLP , Gilbert + Tobin , Paul Weiss Rifkind Wharton & Garrison LLP , Herbert Smith Freehills LLP , Goodwin Procter LLP , Morrison & Foerster LLP , Skadden Arps Slate Meagher & Flom LLP , Clifford Chance LLP , Fasken Martineau DuMoulin LLP , TOTAL 246,408 2, ,208 TOTAL 246,408 2, ,208 Brazil Announced Deals (By Volume) 01/01/ - 09/30/ Brazil Announced Deals (By Deal Count) 01/01/ - 09/30/ Mattos Filho Veiga Filho Marrey Jr e Quiroga , Mattos Filho Veiga Filho Marrey Jr e Quiroga , Davis Polk & Wardwell LLP , Pinheiro Neto Advogados , Cleary Gottlieb Steen & Hamilton LLP , Souza Cescon Barrieu & Flesch Advogados , White & Case LLP , Barbosa Mussnich & Aragao , Tozzini Freire Teixeira E Silva , Veirano Advogados Machado Meyer Sendacz e Opice Advogados , Lefosse Advogados , Souza Cescon Barrieu & Flesch Advogados , Machado Meyer Sendacz e Opice Advogados , Lefosse Advogados , Tozzini Freire Teixeira E Silva , Barbosa Mussnich & Aragao , Demarest Advogados Pinheiro Neto Advogados , Lobo de Rizzo Advogados Latham & Watkins LLP , Stocche Forbes Padis Filizzola e Clapis Choate Hall & Stewart LLP , Baker & McKenzie LLP , Covington & Burling LLP , Cleary Gottlieb Steen & Hamilton LLP , Baker & McKenzie LLP , White & Case LLP , Linklaters LLP Skadden Arps Slate Meagher & Flom LLP Morgan Lewis & Bockius LLP Simpson Thacher & Bartlett LLP Skadden Arps Slate Meagher & Flom LLP Jones Day Simpson Thacher & Bartlett LLP Azevedo Sette Advogados Demarest Advogados Davis Polk & Wardwell LLP , Akin Gump Strauss Hauer & Feld LLP Latham & Watkins LLP , TOTAL 38, ,380 TOTAL 38, ,380 8

10 EMEA M&A Regional Review Deal volume for EMEA-based targets reached $765.1 billion in the first 3Q, a 25.2% increase from the same period last year. The United Kingdom continued to be the most targeted country in the region, generating $240.0 billion in transactional value. M&A deal activity in the communications sector experienced an increase of 456.5% year-over-year, partly due to Comcast Corp's pending acquisition of Sky PLC for $46.0 billion. This deal was the largest of the quarter in the EMEA region. Cross border deals in the region reached $ billion, accounting for more than three quarters of the overall volume in the region. EMEA M&A Highlights of 1st 3Q Country Total Summary Date Target Acquirer Seller Value Industry EMEA M&A: Country Breakdown United Kingdom $ % 39.6% Germany $ % 128.8% Spain $ % 74.2% France $ % -58.0% Switzerland $ % -0.2% Italy $ % -36.8% Netherlands $ % 41.5% Finland $ % -33.4% Amount (Bln.) % of Total Number of deals 8,277 Financial $ % -1.1% 4/25/ Sky PLC Comcast Corp - $50,714.3 Volume (Bln.) $765.1 Communications $ % 456.5% Avg Deal Size (Mln.) $92.4 EDP - Energias de Portugal Consumer Non-cyclical $ % -3.3% 5/11/ China Three Gorges Corp - $28,159.9 SA Utilities $ % 217.4% Top Adviser Liberty Global Industrial $ % 5.5% 5/9/ Multiple Targets Vodafone Group PLC $21,813.2 Freshfields Bruckhaus Deringer LLP PLC Consumer Cyclical $ % -18.9% Number of deals 105 Energy $ % -6.6% 3/12/ Innogy SE E.ON SE RWE AG $21,669.9 Volume (Bln.) $158.3 Technology $ % 53.3% Avg Deal Size (Bln.) $1.5 7/3/ Multiple Targets CK Hutchison Holdings Ltd VEON Ltd $14,148.9 Basic Materials $ % 142.3% Diversified $ % -84.0% Amount (Bln.) % of Total EMEA M&A: Industry Breakdown % YoY Change % YoY Change Global M&A Review 1st 3Q EMEA M&A: Quarterly Volume $400 4,000 $300 3,000 $200 2,000 $100 1,000 $ Q Q Q Q3 Q3 Q3 Volume $(Bln.) Deal Count Quarterly Volume represents any involvement (target, seller, or acquirer). Deal Type EMEA M&A: Deal Type Breakdown Amount (Bln.) % Change Deal Count % Change Volume Company Takeover $ % 42.8% Cross Border $ % 29.2% Private Equity $ % 13.9% Asset sale $ % 34.9% Tender Offer $ % 51.0% Venture Capital $ % 41.3% Spin-off $ % 292.3% Minority purchase $ % -4.9% Majority purchase $ % -18.7% 9

11 Europe Announced Deals (By Volume) 01/01/ - 09/30/ Europe Announced Deals (By Deal Count) 01/01/ - 09/30/ Freshfields Bruckhaus Deringer LLP , Jones Day , Linklaters LLP , CMS , Shearman & Sterling LLP , Allen & Overy LLP , Herbert Smith Freehills LLP , Clifford Chance LLP , Davis Polk & Wardwell LLP , Baker & McKenzie LLP , Slaughter and May , Linklaters LLP , Kirkland & Ellis LLP , Latham & Watkins LLP , Allen & Overy LLP , Freshfields Bruckhaus Deringer LLP , Skadden Arps Slate Meagher & Flom LLP , White & Case LLP , Clifford Chance LLP , Kirkland & Ellis LLP , Sullivan & Cromwell LLP , Orrick Herrington & Sutcliffe LLP , Wachtell Lipton Rosen & Katz , Cuatrecasas , Weil Gotshal & Manges LLP , Dentons , Hengeler Mueller , Hogan Lovells US LLP , Latham & Watkins LLP , Weil Gotshal & Manges LLP , Cravath Swaine & Moore LLP , Goodwin Procter LLP , Gibson Dunn & Crutcher LLP , Herbert Smith Freehills LLP , Cleary Gottlieb Steen & Hamilton LLP , Ellex , White & Case LLP , Perez-Llorca , CMS , Shearman & Sterling LLP , TOTAL 978,798 9, ,429 TOTAL 978,798 9, ,429 Europe Announced Deals- Principals (By Volume) 01/01/ - 09/30/ Europe Announced Deals- Principals (By Deal Count) 01/01/ - 09/30/ Freshfields Bruckhaus Deringer LLP , Jones Day , Linklaters LLP , CMS , Herbert Smith Freehills LLP , Allen & Overy LLP , Slaughter and May , Clifford Chance LLP , Davis Polk & Wardwell LLP , Baker & McKenzie LLP , Allen & Overy LLP , Linklaters LLP , Clifford Chance LLP , Latham & Watkins LLP , Skadden Arps Slate Meagher & Flom LLP , Freshfields Bruckhaus Deringer LLP , Kirkland & Ellis LLP , White & Case LLP , Wachtell Lipton Rosen & Katz , Orrick Herrington & Sutcliffe LLP , Shearman & Sterling LLP , Kirkland & Ellis LLP , Hengeler Mueller , Cuatrecasas , Weil Gotshal & Manges LLP , Dentons , Latham & Watkins LLP , Hogan Lovells US LLP , Cravath Swaine & Moore LLP , Weil Gotshal & Manges LLP , CMS , Goodwin Procter LLP , White & Case LLP , Herbert Smith Freehills LLP , Jones Day , Ellex , Simpson Thacher & Bartlett LLP , Perez-Llorca , Sullivan & Cromwell LLP , Noerr LLP , TOTAL 762,516 3, ,996 TOTAL 762,516 3, ,996 10

12 UK Announced Deals (By Volume) 01/01/ - 09/30/ UK Announced Deals (By Deal Count) 01/01/ - 09/30/ Freshfields Bruckhaus Deringer LLP , CMS , Herbert Smith Freehills LLP , Linklaters LLP , Slaughter and May , Jones Day , Shearman & Sterling LLP , Allen & Overy LLP , Davis Polk & Wardwell LLP , Clifford Chance LLP , Linklaters LLP , Latham & Watkins LLP , Wachtell Lipton Rosen & Katz , Freshfields Bruckhaus Deringer LLP , Clifford Chance LLP , Kirkland & Ellis LLP , Skadden Arps Slate Meagher & Flom LLP , Herbert Smith Freehills LLP , Sullivan & Cromwell LLP , White & Case LLP , Allen & Overy LLP , Squire Patton Boggs US LLP , CMS , Baker & McKenzie LLP , Simpson Thacher & Bartlett LLP , Travers Smith , Weil Gotshal & Manges LLP , Skadden Arps Slate Meagher & Flom LLP , Kirkland & Ellis LLP , Ashurst LLP , White & Case LLP , Slaughter and May , Hengeler Mueller , Weil Gotshal & Manges LLP , King & Wood Mallesons , Orrick Herrington & Sutcliffe LLP , Latham & Watkins LLP , Hogan Lovells US LLP , AZB & Partners , Ropes & Gray LLP , TOTAL 431,482 3, ,041 TOTAL 431,482 3, ,041 Germany Announced Deals (By Deal Count) 01/01/ - 09/30/ France Announced Deals (By Deal Count) 01/01/ - 09/30/ CMS , Jones Day , Jones Day , Clifford Chance LLP , Freshfields Bruckhaus Deringer LLP , Weil Gotshal & Manges LLP , Hengeler Mueller , Latham & Watkins LLP , Noerr LLP , Orrick Herrington & Sutcliffe LLP , Clifford Chance LLP , Baker & McKenzie LLP , Allen & Overy LLP , Allen & Overy LLP , Baker & McKenzie LLP , Goodwin Procter LLP , Latham & Watkins LLP , De Pardieu Brocas Maffei , Orrick Herrington & Sutcliffe LLP Hogan Lovells US LLP Dentons , Linklaters LLP , Luther Rechtsanwaltsgesellschaft GmbH Willkie Farr & Gallagher LLP , Hogan Lovells US LLP , Cuatrecasas , White & Case LLP Freshfields Bruckhaus Deringer LLP , Shearman & Sterling LLP , Dechert LLP , Linklaters LLP , Cleary Gottlieb Steen & Hamilton LLP , Watson Farley & Williams LLP CMS , Kirkland & Ellis LLP , White & Case LLP , Willkie Farr & Gallagher LLP , Bredin Prat , Ashurst LLP , Herbert Smith Freehills LLP , TOTAL 156,811 1,664 83,591 TOTAL 131,326 1, ,297 11

13 Italy Announced Deals (By Deal Count) 01/01/ - 09/30/ Benelux Announced Deals (By Deal Count) 01/01/ - 09/30/ NCTM Studio Legale Associato Allen & Overy LLP , Chiomenti Studio Legale , Loyens & Loeff NV , Orrick Herrington & Sutcliffe LLP Clifford Chance LLP , Gattai Minoli Agostinelli & Partners , Houthoff Buruma , Legance Avvocati Associati , Stibbe BV , Jones Day , Jones Day , Latham & Watkins LLP , Latham & Watkins LLP , CMS CMS Baker & McKenzie LLP Freshfields Bruckhaus Deringer LLP , White & Case LLP , Linklaters LLP , Shearman & Sterling LLP , De Brauw Blackstone Westbroek NV , Dentons NautaDutilh NV , Linklaters LLP , Baker & McKenzie LLP Clifford Chance LLP , Kirkland & Ellis LLP , Allen & Overy LLP , Dentons , Noerr LLP Orrick Herrington & Sutcliffe LLP Kirkland & Ellis LLP White & Case LLP , Bonelli Erede Pappalardo , Dechert LLP , Portolano Cavallo Studio Legale Hogan Lovells US LLP , Cleary Gottlieb Steen & Hamilton LLP , Hengeler Mueller TOTAL 52, ,942 TOTAL 115,125 1, ,736 Iberia Announced Deals (By Deal Count) 01/01/ - 09/30/ Nordic Announced Deals (By Deal Count) 01/01/ - 09/30/ Cuatrecasas , White & Case LLP , Perez-Llorca , Hannes Snellman Advokatbyra Ab/FI , Uria Menendez Abogados SLP , Baker & McKenzie LLP , Baker & McKenzie LLP Advokatfirman Vinge KB , Clifford Chance LLP , Linklaters LLP , Garrigues Abogados , Roschier Advokatbyra AB , Linklaters LLP , Ellex , Rousaud Costas Duran Slp Freshfields Bruckhaus Deringer LLP , Allen & Overy LLP , Kirkland & Ellis LLP , Kirkland & Ellis LLP , Advokatfirmaet Thommessen AS , Freshfields Bruckhaus Deringer LLP , Allen & Overy LLP , Jones Day , Jones Day , PriceWaterhouseCoopers Legal Latham & Watkins LLP , Herbert Smith Freehills LLP Clifford Chance LLP , Hogan Lovells US LLP COBALT , Skadden Arps Slate Meagher & Flom LLP , CMS DLA Piper LLP , Willkie Farr & Gallagher LLP , White & Case LLP , Ashurst LLP Dentons Goodwin Procter LLP Goodwin Procter LLP Skadden Arps Slate Meagher & Flom LLP , TOTAL 93, ,654 TOTAL 97,053 1,439 78,273 12

14 Eastern Europe Announced Deals (By Deal Count) 01/01/ - 09/30/ Ellex , Dentons , COBALT CMS , SORAINEN , Allen & Overy LLP , Baker & McKenzie LLP , Linklaters LLP , Clifford Chance LLP White & Case LLP , Greenberg Traurig LLP , Noerr LLP Kirkland & Ellis LLP , Weil Gotshal & Manges LLP , Hogan Lovells US LLP Jones Day TGS Baltic Schoenherr Freshfields Bruckhaus Deringer LLP , Latham & Watkins LLP , TOTAL 52, ,310 13

15 APAC M&A Regional Review M&A activity targeting the APAC region for the first 3Q increased by 3.9% year-on-year to $ billion. Deals exceeding $1.0 billion in value increased by 2.8% to 111 deals this quarter. The value of deals targeting Chinese companies or assets accounted for 46.3% of the total deal volume. The financial and industrial sectors were the most targeted industries, accounting for 39.7% of the region's overall volume. The pending acquisition of APA Group led by CK Infrastructure Holdings Ltd for $16.4 billion was the largest deal involving an APAC-based target this year. Private equity deal volume increased by 11.4% year-on-year to $ billion. Sequoia Capital was the most active investor in the first 3Q with its involvement in 57 deals. Summary Date Target Acquirer Seller Number of deals 10,216 Volume (Bln.) $707.4 Avg Deal Size (Mln.) $69.2 Top Adviser King & Wood Mallesons Number of deals 71 Volume (Bln.) $61.3 Avg Deal Size (Bln.) $0.8 APAC M&A: Highlights of 1st 3Q Total Value 8/13/ APA Group Multiple Acquirers - $16, /9/ 6/8/ 5/9/ 4/20/ Flipkart Online Services Pvt Ltd Zhejiang Ant Small & Micro Financial Services Group Yantai Wanhua Chemical Co Ltd Inner Mongolia BaoTou Steel Union Co Ltd Walmart Inc Multiple Acquirers - Wanhua Chemical Group Co Ltd Baotou Iron and Steel Group Co Ltd Multiple Sellers $16,000.0 $14,000.0 Multiple Sellers $10, $8,151.9 $400 $300 $200 $100 $0 $80 $60 $40 $20 $0 $300 $200 $100 $0 APAC M&A: Quarterly Volume Volume $(Bln.) Australia/NZ M&A: Quarterly Volume Volume $(Bln.) Deal Count Deal Count Greater China M&A: Quarterly Volume 6,000 4,000 2, Global M&A Review 1st 3Q APAC Industry Breakdown 2% 0% 7% 7% 25% 8% 12% 14% 12% 13% APAC M&A: Breakdown Financial Industrial Consumer Cyclical Consumer Non-cyclical Communications Basic Materials Technology Energy Utilities Diversified Deal Type Amount (Bln.) % Change % YoY Change Company Takeover $ % -1.1% Cross Border $ % 11.8% Private Equity $ % 11.4% Asset sale $ % -9.2% Tender Offer $ % -17.2% Venture Capital $ % 90.4% Spin-off $ % -83.0% Minority purchase $ % 23.8% Majority purchase $ % -2.1% $150 $100 $50 $0 Volume $(Bln.) Deal Count Japan M&A: Quarterly Volume Volume $(Bln.) Deal Count Graphs represent any regional involvement (target, seller, or acquirer). 0 14

16 APAC Ex Japan Announced Deals (By Volume) 01/01/ - 09/30/ APAC Ex Japan Announced Deals (By Deal Count) 01/01/ - 09/30/ King & Wood Mallesons , AZB & Partners , Kirkland & Ellis LLP , Herbert Smith Freehills LLP , Herbert Smith Freehills LLP , Kim & Chang , Freshfields Bruckhaus Deringer LLP , King & Wood Mallesons , Allens , Fangda Partners , Weil Gotshal & Manges LLP , Khaitan & Co , Allen & Overy LLP , Jones Day , Gibson Dunn & Crutcher LLP , Shin & Kim , Shardul Amarchand Mangaldas & Co , Baker & McKenzie LLP , Simpson Thacher & Bartlett LLP , Lee & Ko , AZB & Partners , Cyril Amarchand Mangaldas , Sullivan & Cromwell LLP , Allens , Fangda Partners , J Sagar Associates , Latham & Watkins LLP , Gilbert + Tobin , Cyril Amarchand Mangaldas , Shardul Amarchand Mangaldas & Co , Clifford Chance LLP , Latham & Watkins LLP , Gilbert + Tobin , Trilegal , Khaitan & Co , Bae Kim & Lee , DLA Piper LLP , Ashurst LLP , Trilegal , Allen & Overy LLP , TOTAL 908,949 10, ,324 TOTAL 908,949 10, ,324 APAC Private Equity Announced Deals (By Volume) 01/01/ - 09/30/ Kirkland & Ellis LLP , Weil Gotshal & Manges LLP , Gibson Dunn & Crutcher LLP , Simpson Thacher & Bartlett LLP , Fangda Partners , Latham & Watkins LLP , King & Wood Mallesons , Allen & Overy LLP , Gilbert + Tobin , Shardul Amarchand Mangaldas & Co , Clifford Chance LLP , Trilegal , Fried Frank Harris Shriver & Jacobson LLP , Khaitan & Co , Sullivan & Cromwell LLP , Cyril Amarchand Mangaldas , Hogan Lovells US LLP , White & Case LLP , Morrison & Foerster LLP , Norton Rose Fulbright LLP , TOTAL 304,498 2, ,830 15

17 AU & NZ Announced Deals (By Volume) 01/01/ - 09/30/ AU & NZ Announced Deals (By Deal Count) 01/01/ - 09/30/ Herbert Smith Freehills LLP , Herbert Smith Freehills LLP , Allens , King & Wood Mallesons , King & Wood Mallesons , Allens , Freshfields Bruckhaus Deringer LLP , Gilbert + Tobin , Minter Ellison , HWL Ebsworth Lawyers DLA Piper LLP , Ashurst LLP , Baker & McKenzie LLP , Minter Ellison , Linklaters LLP , Corrs Chambers Westgarth , Ashurst LLP , Jones Day Baker Botts LLP , Chapman Tripp , Sullivan & Cromwell LLP , Baker & McKenzie LLP , Kirkland & Ellis LLP , Norton Rose Fulbright LLP Kromann Reumert I/S , Thomson Geer Gilbert + Tobin , DLA Piper LLP , Cravath Swaine & Moore LLP , Linklaters LLP , Cleary Gottlieb Steen & Hamilton LLP , Allen & Overy LLP , Faegre Baker Daniels LLP , Arnold Bloch Leibler , Clifford Chance LLP , Clayton Utz , Clayton Utz , Kirkland & Ellis LLP , Chapman Tripp , Blake Cassels & Graydon LLP , TOTAL 143,621 1,380 69,828 TOTAL 143,621 1,380 69,828 Japan Announced Deals (By Volume) 01/01/ - 09/30/ Japan Announced Deals (By Deal Count) 01/01/ - 09/30/ Nishimura & Asahi , Nagashima Ohno & Tsunematsu , Nagashima Ohno & Tsunematsu , Mori Hamada & Matsumoto , Fried Frank Harris Shriver & Jacobson LLP , Nishimura & Asahi , Mori Hamada & Matsumoto , Anderson Mori & Tomotsune , Sullivan & Cromwell LLP , Morrison & Foerster LLP , Latham & Watkins LLP , Jones Day , Linklaters LLP , Herbert Smith Freehills LLP , Slaughter and May , Latham & Watkins LLP , Davis Polk & Wardwell LLP , Shearman & Sterling LLP , Mourant Ozzannes , Baker & McKenzie LLP , Barbosa Mussnich & Aragao , TMI Associates , Allen & Overy LLP , Allen & Overy LLP , Morrison & Foerster LLP , Freshfields Bruckhaus Deringer LLP , Gibson Dunn & Crutcher LLP , Morgan Lewis & Bockius LLP Allen & Gledhill LLP , Linklaters LLP , Kirkland & Ellis LLP , Kirkland & Ellis LLP , Trilegal , Trilegal , Dentons , Skadden Arps Slate Meagher & Flom LLP , Shardul Amarchand Mangaldas & Co , Hibiya-Nakata Cyril Amarchand Mangaldas , Ashurst LLP TOTAL 229,039 2, ,360 TOTAL 229,039 2, ,360 16

18 South Korea Announced Deals (By Volume) 01/01/ - 09/30/ South Korea Announced Deals (By Deal Count) 01/01/ - 09/30/ Kim & Chang , Kim & Chang , Shin & Kim , Shin & Kim , Lee & Ko , Lee & Ko , Bae Kim & Lee , Bae Kim & Lee , Latham & Watkins LLP , Yulchon LLC , Paul Weiss Rifkind Wharton & Garrison LLP , Yoon & Yang LLC Greenberg Traurig LLP , JIPYONG LLC Sullivan & Cromwell LLP , Clifford Chance LLP , Alston & Bird LLP , O'Melveny & Myers LLP Yulchon LLC , Kim Choi & Lim Gibson Dunn & Crutcher LLP , Shearman & Sterling LLP , Ropes & Gray LLP , Jones Day Hughes Hubbard & Reed LLP , Latham & Watkins LLP , Clifford Chance LLP , Paul Weiss Rifkind Wharton & Garrison LLP , Shearman & Sterling LLP , Greenberg Traurig LLP , Freshfields Bruckhaus Deringer LLP , Gibson Dunn & Crutcher LLP , Hengeler Mueller , Ropes & Gray LLP , Osler Hoskin & Harcourt LLP , Freshfields Bruckhaus Deringer LLP , Blake Cassels & Graydon LLP , Fangda Partners Nishimura & Asahi Fenwick & West LLP TOTAL 73,446 1,342 94,480 TOTAL 73,446 1,342 94,480 China Announced Deals (By Volume) 01/01/ - 09/30/ China Announced Deals (By Deal Count) 01/01/ - 09/30/ Fangda Partners , Fangda Partners , King & Wood Mallesons , Grandall Law Firm , Weil Gotshal & Manges LLP , King & Wood Mallesons , Clifford Chance LLP , Latham & Watkins LLP , White & Case LLP , Paul Weiss Rifkind Wharton & Garrison LLP , Sullivan & Cromwell LLP , JunHe LLP , Morrison & Foerster LLP , Haiwen & Partners , Simpson Thacher & Bartlett LLP , Baker & McKenzie LLP , DLA Piper LLP , Sidley Austin LLP , JunHe LLP , Clifford Chance LLP , Zhongzi Law Office , Tian Yuan Law Firm , Grandall Law Firm , Jones Day , Haiwen & Partners , Jingtian & Gongcheng , Tian Yuan Law Firm , Morrison & Foerster LLP , Jia Yuan Law Firm , Jia Yuan Law Firm , Skadden Arps Slate Meagher & Flom LLP , Linklaters LLP , Davis Polk & Wardwell LLP , Weil Gotshal & Manges LLP , Jones Day , Skadden Arps Slate Meagher & Flom LLP , Freshfields Bruckhaus Deringer LLP , Herbert Smith Freehills LLP , Fasken Martineau DuMoulin LLP , Zhong Lun Law Firm , TOTAL 440,867 4, ,537 TOTAL 440,867 4, ,537 17