GLOBAL CAPITAL MARKETS REVIEW LEGAL ADVISORS. REUTERS / Chris Wattie

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1 GLOBAL CAPITAL MARKETS REVIEW LEGAL ADVISORS REUTERS / Chris Wattie Full Year 0

2 Full Year 0 Global Capital Markets Legal Advisors GLOBAL CAPITAL MARKETS REVIEW Table of Contents Global Capital Markets Canada Capital Markets Global Deals Intelligence Canada All Debt (CAL) Issuer Australia International Bonds (BW) Issuer 0 Global Debt, Equity & Equityrelated Excluding FCA (G0) Issuer Canada All Debt (CAL) Manager Australia International Bonds (BW) Manager 0 Global Debt, Equity & Equityrelated Excluding FCA (G0) Manager Canada Equity & Equityrelated (CAL) Issuer Japan Capital Markets Quarterly Global Legal Advisor Debt, Equity and Equityrelated Chart Canada Equity & Equityrelated (CAL) Manager Japan Common Stock (JL) Issuer Global Straight Debt Including ABS & MBS (G0) Issuer EMEA Capital Markets Japan Common Stock (JL) Manager Global Straight Debt Including ABS & MBS (G0) Manager All International Bonds (AV) Issuer Samurai Bonds (JL5) Issuer Global Straight Debt Excluding ABS & MBS (G0) Issuer All International a Bonds (AV) Manager age Samurai a Bonds (JL) Manager age Global Straight Debt Excluding ABS & MBS (G0) Manager EMEA Equity & Equityrelated (AX) Issuer Global Equity & Equityrelated (G0) Issuer EMEA Equity & Equityrelated (AX) Manager Criteria Summary Global Equity & Equityrelated (G0) Manager Ranking Criteria Summary US Capital Markets Asia Pacific (Ex Japan) Capital Markets Asia Equity & Equityrelated (BX) Issuer Thomson Reuters Contact US Debt, Equity & Equity Related (AB) Issuer US Debt, Equity & Equity Related (AB) Manager Asia Equity & Equityrelated (BX) Manager Asia Pacific G Bonds (BV) Issuer Thomson Reuters Solutions For the Deal Making Community US Equity & Equity Related (AB) Issuer Asia Pacific G Bonds (BV) Manager US Equity & Equity Related (AB) Manager US Straight Debt Including ABS & MBS (AB) Issuer 5 Asia Pac G Bonds ex Australasia, Central Asia (BV) Issuer Asia Pac G Bonds ex Australasia, Central Asia (BV) Manager 9 9 US Straight Debt Including ABS & MBS (AB) Manager 5 Australia Equity & Equityrelated (BY) Issuer 0 US Straight Debt Excluding ABS & MBS (AB) Issuer 5 Australia Equity & Equityrelated (BY) Manager 0 US Straight Debt Excluding ABS & MBS (AB) Manager 5

3 Full Year 0 Global Capital Markets Legal Advisors GLOBAL CAPITAL MARKETS REVIEW Global Debt & Equity Proceeds Up 9% Equity Proceeds Down 5% Straight Debt Proceeds Up % Total combined debt and equity capital markets activity totaled US$.5 trillion for 0, an increase of 9.% in comparison to the capital raised last year. Global Debt, Equity & Equityrelated Ex FCA (G0) was the top overall advisor to issuers across debt and equity in 0; advising issuers on deals totaling US$05 billion. was also the top overall advisor to managers across debt and equity in 0; advising managers on 5 transactions totaling US$5.9 billion. Global Straight Debt excluding securitizations totaled US$5.9 trillion in 0, representing a.9% increase compared to 05. The total number of deals executed in 0 (,) increased by.% relative to 05. Global equity capital markets activity totaled US$5.5 billion in 0, representing a 5% decrease from last year. The total number of deals executed in 0 (,0) decreased by.% relative to 05. Grandall took first place among issuer advisors in global equity capital markets during 0, with 9 issues totaling US$. billion. Latham & Watkins was the leading global equity and equityrelated legal advisor to managers, having advised on a total of transactions with a total value of US$. billion in proceeds raised. Global followon offerings totaled US$. billion during full year 0, a decrease of 5% compared to a year ago and the slowest annual period for followon offerings since 0. Followon offerings from companies in the Energy & Power sector accounted for % of capital raising during full year 0, up significantly from % of overall followon on offerings a year ago. Global high grade corporate debt offerings totaled a record US$. trillion during full year 0, an % increase compared to a year ago. Issuance of USdollar offerings hit a record US$. trillion, the eighth consecutive yeartodate increase for US marketplace investment grade debt since the asset class registered a 5% decline in 00. Rank Rank Deals Share # of Deals Proceeds Rank Sh (%) Share Ch , Linklaters , Latham & Watkins ,0. 5, , , King & Wood Mallesons , Anderson Mori & Tomotsune 0.5, Simpson Thacher & Bartlett 9 0.5, Grandall Law Firm , Clifford Chance 0.5 0, Davis Polk & Wardwell * , Skadden * , Morgan Lewis & Bockius * , Mayer Brown LLP , Freshfields Bruckhaus Deringer 0. +, Kirkland & Ellis 0. 5, Baker & McKenzie , Cleary Gottlieb Steen & Hamilton 9 0., Zhong Lun Law Firm , , ,0,, %.% 9.%.% Quarterly Global LegalAdvisor Debt, Equity and Equityrelated Global Debt, Equity & Equityrelated Ex FCA (G0) Proceeds (US$b),500,000,500, Q Q Q Q Proceeds (US$b) Q Q Q Q Q Q Q Q Q5 # of Issues Q Q Q Q Q Q Q,000,000 5,000,000,000,000,000 0 # of Issues Manager Legal Advisor Rank Rank Deals hare # of Deals Proceeds Rank Sh (%) Share Ch , Linklaters.0 9, Davis Polk & Wardwell 0. 9, Latham & Watkins. 50, , Clifford Chance , Simpson Thacher & Bartlett , King & Wood Mallesons , Morgan Lewis & Bockius , * , Cahill Gordon & Reindel , Shearman & Sterling LLP 5 0.5, , Cravath, Swaine & Moore , Skadden 5 * , Mayer Brown LLP , Freshfields Bruckhaus Deringer , Cleary Gottlieb Steen & Hamilton 0., Hogan Lovells , McCarthy Tetrault , , ,0,, % 9.%.%.% Excludes Federal Credit Agency Issuance

4 Full Year 0 Global Capital Markets Legal Advisors GLOBAL DEBT CAPITAL MARKETS Global Straight Debt Including ABS & MBS (G0) Global Straight Debt Including ABS & MBS (G0) Rank Rank Deals Share # of Deals Proceeds Rank Sh (%) Share Ch. Manager Legal Advisor Rank Rank Deals Share # of Deals Proceeds Rank Sh (%) Share Ch.. + 9, , Linklaters , Linklaters 0., , , * 0. +, Davis Polk & Wardwell , Anderson Mori & Tomotsune 5* , Clifford Chance , * , King & Wood Mallesons 0. +5, Clifford Chance , Morgan Lewis & Bockius 0. +5, Mayer Brown LLP , Simpson Thacher & Bartlett , Latham & Watkins , , Morgan Lewis & Bockius , Latham & Watkins , Davis Polk & Wardwell * 0., Cahill Gordon & Reindel , Simpson Thacher & Bartlett 0., Shearman & Sterling LLP 9 0.5, Skadden * 0. 9, Cravath, Swaine & Moore , Kirkland & Ellis 0. 5, Mayer Brown LLP * , Cleary Gottlieb Steen & Hamilton 5 0., , Freshfields Bruckhaus Deringer 0* 0., Cleary Gottlieb Steen & Hamilton * , King & Wood Mallesons , Skadden 0. +0, Shearman & Sterling LLP 0* , Freshfields Bruckhaus Deringer * , Allen & Gledhill , Hogan Lovells 9 9* 0. +, McCarthy Tetrault , McCarthy Tetrault , , ,,5, , ,,5, %.%.%.%.%.%.%.% Global Straight Debt Excluding ABS & MBS (G0) Global Straight Debt Excluding ABS & MBS (G0) Rank Rank Deals Share # of Deals Proceeds Rank Sh (%) Share Ch. Manager Legal Advisor Rank Rank Deals Share # of Deals Proceeds Rank Sh (%) Share Ch.. +, , Linklaters , Linklaters , , Davis Polk & Wardwell.0 9, Anderson Mori & Tomotsune 0. 0, Clifford Chance , , King & Wood Mallesons , Clifford Chance , , Latham & Watkins 9* , Simpson Thacher & Bartlett , Davis Polk & Wardwell 9* 0.5, Latham & Watkins , Simpson Thacher & Bartlett , Cahill Gordon & Reindel , , , Cleary Gottlieb Steen & Hamilton * 0 0., Shearman & Sterling LLP , Freshfields Bruckhaus Deringer * * , Cravath, Swaine & Moore 0.5, King & Wood Mallesons , * 0. 9, Skadden 5 0., Cleary Gottlieb Steen & Hamilton * 0., Shearman & Sterling LLP , Skadden , Allen & Gledhill * 0. +, Freshfields Bruckhaus Deringer 9* , Kirkland & Ellis 0. 9, Hogan Lovells 9* , Cravath, Swaine & Moore , Milbank Tweed Hadley & McCloy , McCarthy Tetrault , McCarthy Tetrault 9 * 0., McGuireWoods LLP , Gibson Dunn & Crutcher 0 9* 0. +, , ,559 5,99,. 00.0, ,559 5,99, %.9%.% 0.% Excludes Federal Credit Agency Issuance.%.%.9% 0.%

5 Full Year 0 Global Capital Markets Legal Advisors GLOBAL EQUITY CAPITAL MARKETS Global Equity & Equityrelated (G0) Global Equity & Equityrelated (G0) Rank Rank Deals Share # of Deals Proceeds Rank Sh (%) Share Ch. Manager Legal Advisor Rank Rank Deals Share # of Deals Proceeds Rank Sh (%) Share Ch. Grandall Law Firm 9.9 +, Latham & Watkins. 5, Latham & Watkins. 5, Davis Polk & Wardwell. 5, Conyers Dill & Pearman.5,.. 0 Linklaters. 9 5, King & Wood Mallesons , Simpson Thacher & Bartlett.0 9, Handsome Attorneys at Law Goodwin Procter LLP 5 0.9, Zhong Lun Law Firm 50., , Baker & McKenzie , * * , Tian Yuan Law Firm 0.9 +, Blake Cassels & Graydon * * , Simpson Thacher & Bartlett ,5.. 0 Clifford Chance 9 * , Appleby 0 * , Skadden 0 0., Grandway Law Offices * 9* 0. +, Baker & McKenzie 0* 0. +9, Skadden * * , Freshfields Bruckhaus Deringer * 0 0., Goodwin Procter LLP * 0., , DLA Piper LLP * 0. 9, Herbert Smith Freehills 0. 0, Cooley LLP 5* 0., Cooley LLP , Vinson & Elkins LLP 5* * , Norton Rose Fulbright 0.5, AllBright Law Offices * * 0. +, Shearman & Sterling LLP * 0.5,.9.. Norton Rose Fulbright * * 0. +, Stikeman Elliott * 0.5 9, Troutman Sanders LLP 9 0* , Ashurst 9* * , * * 0., Torys 9* 9* 0.5 +, Blake Cassels & Graydon 0* * 0. +, Vinson & Elkins LLP 9* * 0.5, * 9* , , , Wilson Sonsini Goodrich & Rosati 0* * , , , % 5.0%.0%.%.% 5.0%.0%.%

6 Full Year 0 Global Capital Markets Legal Advisors US CAPITAL MARKETS REVIEW US Debt, Equity & Equity Related (AB) US Debt, Equity & Equity Related (AB) Latham & Watkins Simpson Thacher & Bartlett Mayer Brown LLP Skadden Davis Polk & Wardwell Kirkland & Ellis Vinson & Elkins LLP Morgan Lewis & Bockius Shearman & Sterling LLP Cleary Gottlieb Steen & Hamilton Goodwin Procter LLP 5 9 0* 0* * *. 5, Cravath, Swaine & Moore , * 5.0 0, Hogan Lovells * *.0 0, McGuireWoods LLP *.0 5, Cooley LLP 9.0 0, Paul, Weiss 0* * 0 0.9, Ropes & Gray 0* , , ,, Rank 05 # of Market Change in Rank Deals Sh (%) # of Deals Proceeds Rank Sh (%) Share Ch. Manager Legal Advisor Rank Rank Deals Sh (%) # of Deals. 5, Davis Polk & Wardwell * ,.. 0. Latham & Watkins * , , Simpson Thacher & Bartlett , Cahill Gordon & Reindel , , Cravath, Swaine & Moore , Shearman & Sterling LLP *.. +, Linklaters 9* , Skadden 9* , , Mayer Brown LLP *.. 0, Cleary Gottlieb Steen & Hamilton.0 5.5%.%.9%.% Morgan Lewis & Bockius * , Goodwin Procter LLP 5 *., Hunton & Williams. 5, Milbank Tweed Hadley & McCloy , Vinson & Elkins LLP , Gibson Dunn & Crutcher , Pillsbury Winthrop Shaw Pitt LLP 0 * 0. +9, , ,, %.9%.%.% Proceeds Rank Sh (%) Share Ch. 5,. 9..0, , , , , ,..., , , , ,9.. 0.,... US Equity & Equity Related (AB) US Equity & Equity Related (AB) Manager Legal Advisor Latham & Watkins 5., Latham & Watkins., Vinson & Elkins LLP. +5 5, Davis Polk & Wardwell 9.0,.. 0. Goodwin Procter LLP 5., Goodwin Procter LLP 5., Cooley LLP. 0,..5. Simpson Thacher & Bartlett 5.5, Simpson Thacher & Bartlett 5 * 9.9, Cooley LLP 5. 0, Venable LLP * , , Ropes & Gray. 0 5, Skadden *. 9, Wilson Sonsini Goodrich & Rosati , Cravath, Swaine & Moore * 0* 9.5 0, Skadden , Ellenoff Grossman Schole & Cyruli * Hogan Lovells 0 *. + 5, Vinson & Elkins LLP * 9.5, Baker Botts LLP *.9, Cahill Gordon & Reindel. 5 5, Kirkland & Ellis *.9 5, Covington & Burling *., WilmerHale 0., Hunton & Williams * 5.0 9, Morgan Lewis & Bockius 5*. +, Mintz Levin Cohn Ferris Glovsky & Pope Akin, Gump, Strauss, Hauer & Feld 5* 5*.5, Baker Botts LLP 5 *., Morrison & Foerster 5* 5*.5, Andrews Kurth Kenyon LLP * * 9. 5, Faegre Baker Daniels LLP 59* 0. +, Kirkland & Ellis * 5* 9. +, Debevoise & Plimpton * * 9.,...9 Ropes & Gray * 0* 9., Fenwick & West LLP * * Shearman & Sterling LLP * 9., , Hogan Lovells 0* *. +, Pillsbury Winthrop Shaw Pitt LLP 0* 5*. +5, %.% Sichenzia Ross & Friedman, LLP 0* 5* %.% , Excludes U.S. Federal Credit Agency Issuance 0.0%.%.%.%

7 Full Year 0 Global Capital Markets Legal Advisors US CAPITAL MARKETS REVIEW US Straight Debt Including ABS & MBS (AB) US Straight Debt Including ABS & MBS (AB) Manager Legal Advisor , , ,.. +. Davis Polk & Wardwell 5.5 9, Mayer Brown LLP., Simpson Thacher & Bartlett , Simpson Thacher & Bartlett * , Cahill Gordon & Reindel 0. 0, Davis Polk & Wardwell 5 * 9., Latham & Watkins , Latham & Watkins *. 9, , Skadden 59., Cravath, Swaine & Moore , Kirkland & Ellis 5., Linklaters * , Shearman & Sterling LLP , * 5.9, Cleary Gottlieb Steen & Hamilton 0 0., Shearman & Sterling LLP , Morgan Lewis & Bockius * , Mayer Brown LLP *. 9, , Cleary Gottlieb Steen & Hamilton ,... Cravath, Swaine & Moore *., Skadden , , Morgan Lewis & Bockius 5.0 9, McGuireWoods LLP , Milbank Tweed Hadley & McCloy , Linklaters 9. +, Gibson Dunn & Crutcher * , Paul, Weiss *.0 +, Hunton & Williams * 0.9 9, Vinson & Elkins LLP * 5.0, , Willkie Farr & Gallagher 9 0.9, Clifford Chance 9* * 0.,.0.. Dechert 0* 5* , Dechert 9* 0* , Gibson Dunn & Crutcher 0* , ,0 00.0,9, ,0 00.0,9, %.% 0.%.% 0.%.% 0.%.% US Straight Debt Excluding ABS & MBS (AB) US Straight Debt Excluding ABS & MBS (AB) Manager Legal Advisor , Davis Polk & Wardwell. 9, Simpson Thacher & Bartlett , Simpson Thacher & Bartlett. + 9,.. 0. Davis Polk & Wardwell 9. 0, Cahill Gordon & Reindel , , Latham & Watkins , Latham & Watkins , , Skadden 50., , Shearman & Sterling LLP *. + 5, Cravath, Swaine & Moore.0 0, Cleary Gottlieb Steen & Hamilton 9., Linklaters. + 0, Kirkland & Ellis 9*.9 0,..5. Shearman & Sterling LLP 9. 0, Cravath, Swaine & Moore 9* 0.9, * , , Cleary Gottlieb Steen & Hamilton * 5., , Skadden * ,.. +. McGuireWoods LLP 0.5 5, Milbank Tweed Hadley & McCloy. +, Linklaters * 9.5 +, Gibson Dunn & Crutcher 0*. +0, Paul, Weiss 5. +, Hunton & Williams , Vinson & Elkins LLP 5., Clifford Chance * * 0.0,0...5 Willkie Farr & Gallagher 9., O'Melveny & Myers * 0* , Morgan Lewis & Bockius , Pillsbury Winthrop Shaw Pitt LLP , Gibson Dunn & Crutcher 9* 5 9.0, Hogan Lovells 9 * , Mayer Brown LLP 9* 9.0, ,. 0. 0, ,5, , ,5, %.% 9.% 5.%.0% 9.%.% 5.% Excludes Federal Credit Agency Issuance 5

8 Full Year 0 Global Capital Markets Legal Advisors CANADA CAPITAL MARKETS REVIEW Canada All Debt (CAL) Canada All Debt (CAL) Proceeds per Advisor (C$m) Proceeds per Advisor (C$m) Manager Legal Advisor McCarthy Tetrault *.9 +,.. +. McCarthy Tetrault ,..9. Osler Hoskin & Harcourt LLP. 9, Torys 5. +,.. +. Torys 5. 5, Osler Hoskin & Harcourt LLP.9 0, Blake Cassels & Graydon *., Blake Cassels & Graydon 9.5, Stikeman Elliott 5.0 +, Davies Ward Phillips & Vineberg LLP 5* 0* , Davies Ward Phillips & Vineberg LLP * , Norton Rose Fulbright 5* 5 0.9,0.5. Norton Rose Fulbright * 5 0.9, * * 0., Borden Ladner Gervais LLP 5 0.,5... Borden Ladner Gervais LLP * Goodmans 9 * Davis Polk & Wardwell * 0.,9.9.0 Appleby 0* 9* Goodmans * Dentons Canada LLP 0* Gibson Dunn & Crutcher * * 0. +, Gibson Dunn & Crutcher 0* Bennett Jones * * Kramer Levin Naftalis & Frankel 0* 9* Burnet Duckworth & Palmer * Kirkland & Ellis 0* * Clifford Chance * * Freshfields Bruckhaus Deringer 0* * Dentons Canada LLP * Dentons 0* * Linklaters * Morgan Lewis & Bockius 0* * Latham & Watkins * Shearman & Sterling LLP 0* Milbank Tweed Hadley & McCloy * * , Stikeman Elliott * * , %.%.% 5.%.%.%.% 5.% Canada Equity & Equityrelated (CAL) Canada Equity & Equityrelated (CAL) Proceeds per Advisor (C$m) Proceeds per Advisor (C$m) Manager Legal Advisor Blake Cassels & Graydon * *. +, Blake Cassels & Graydon. +5 5,.. +. Burnet Duckworth & Palmer * *. +5, Stikeman Elliott., Paul, Weiss * , Torys ,0... McCarthy Tetrault * 5. +, McCarthy Tetrault 5. 0, Troutman Sanders LLP Burnet Duckworth & Palmer 5 5*. +, Stikeman Elliott *., Troutman Sanders LLP * Torys 5.,...5 Norton Rose Fulbright * * 9., Dorsey & Whitney LLP * * Skadden * , Osler Hoskin & Harcourt LLP * *.5 0, Baker & McKenzie 9* 9* Goodmans 0 9* Borden Ladner Gervais LLP 9* 0* Cassels Brock & Blackwell LLP * * Osler Hoskin & Harcourt LLP 9*., Norton Rose Fulbright * 9* 9.,0... Davies Ward Phillips & Vineberg LLP * Borden Ladner Gervais LLP Goodmans * 0* Gowling WLG * Paul, Weiss * 5* 5.5 +, Fasken Martineau DuMoulin LLP 5* * Dorsey & Whitney LLP 5* * Skadden 5* * 5.5 +, Dentons Canada LLP 5* *., , , %.%.%.%.%.%.%.%

9 Full Year 0 Global Capital Markets Legal Advisors INTERNATIONAL DCM AND EMEA ECM All International Bonds All International Bonds Manager Legal Advisor , , Linklaters 5.5 +, Linklaters 9. 0, , Davis Polk & Wardwell.9 9, , Clifford Chance , , , Clifford Chance ,.0.. King & Wood Mallesons. +0 0, Davis Polk & Wardwell , Simpson Thacher & Bartlett , Anderson Mori & Tomotsune. 0, Latham & Watkins.0 0, Latham & Watkins 9 9., , Simpson Thacher & Bartlett , Cahill Gordon & Reindel , Cleary Gottlieb Steen & Hamilton. 9, Shearman & Sterling LLP. 5, Freshfields Bruckhaus Deringer * , , Shearman & Sterling LLP , Cravath, Swaine & Moore. 9 09, Mayer Brown LLP , Cleary Gottlieb Steen & Hamilton. 0, Skadden , Mayer Brown LLP , Kirkland & Ellis 0. 9, Freshfields Bruckhaus Deringer * 0., King & Wood Mallesons 0. 9, Skadden * , Cravath, Swaine & Moore * 5 0., Hogan Lovells * 0. +9, Paul, Weiss 9* * , Milbank Tweed Hadley & McCloy 9 0., Willkie Farr & Gallagher 9* * 0.5, Morgan Lewis & Bockius 0 * , , ,9, , ,9, %.%.%.9% 0.5%.%.%.9% EMEA Equity & Equityrelated (AX) EMEA Equity & Equityrelated (AX) Manager Legal Advisor Freshfields Bruckhaus Deringer. 0, Linklaters , Latham & Watkins , , * * 9.9 9, , Baker & McKenzie * 9.9 +, Freshfields Bruckhaus Deringer 5*., Linklaters * 9.9 5, Clifford Chance 5. 0, *. +, Ashurst 5*. +, Advokatfirman Vinge * * Travers Smith 5* Davis Polk & Wardwell * * 0., Davis Polk & Wardwell. 0, DLA Piper LLP * * 0., Baker & McKenzie 9* * Clifford Chance 0* * 0. 5,.. 0. Shearman & Sterling LLP 9* , Shearman & Sterling LLP 0* * 0., Latham & Watkins * 9 0.9, * , Simmons & Simmons * * , Gernandt & Danielsson * * 0. +, Hogan Lovells Norton Rose Fulbright * * 0., Goodwin Procter LLP * , , Covington & Burling 5* 5* DLA Piper LLP 5* * 5 0.5, % 9.5%, , % 5.% 0.% 9.5%.% 5.% Excludes Federal Credit Agency Issuance

10 Full Year 0 Global Capital Markets Legal Advisors ASIA PACIFIC (EX JAPAN) CAPITAL MARKETS REVIEW Asia Equity & Equityrelated (BX) Asia Equity & Equityrelated (BX) Grandall Law Firm Conyers Dill & Pearman King & Wood Mallesons Handsome Attorneys at Law Zhong Lun Law Firm Tian Yuan Law Firm Appleby Grandway Law Offices AllBright Law Offices Deheng Law Offices Cyril Amarchand Mangaldas Far East United Law Firm Manager Legal Advisor , Jingtian & Gongcheng *.0, , King & Wood Mallesons * 0.9 +, ,.5.0. Clifford Chance * 5 0.9, Linklaters * , , Herbert Smith Freehills 5* 0* , , * * 0. +, * * Squire Patton Boggs LLP * * 9. +, Commerce & Finance Law Offices , , Grandall Law Firm 9* 5* , , Norton Rose Fulbright 9* * 5*. +0, Davis Polk & Wardwell ,...9 * * * * 0. +, Jingtian & Gongcheng *., M.V. Kini & Co * * Beijing Dentons Law Offices LLP 5 0* 9. +5, Hairun Law Firm *. +5, JunHe LLP.0, Commerce & Finance Law Offices * 5* 0.9 +, Beijing Kangda Law Firm * * 0.9 +, Maples & Calder 0 * 5 0.9,5..5 0, , %.%.%.9% Fangda Partners JunHe LLP Global Law Office Allen & Gledhill Freshfields Bruckhaus Deringer S&R Associates Tian Yuan Law Firm AZB & Partners Latham & Watkins Kirkland & Ellis Simpson Thacher & Bartlett * * * * * * * 0* 0* 0* 0* * 0. +,5.9 * 0., * 0. +5,5. 5* 0. +,5. * 0. 5,.5 * 0. +,. * * ,0. 5* ,. * 5 0.,5.5, , %.%.%.9% Asia Pacific G Bonds (BV) Asia Pacific G Bonds (BV) Manager Legal Advisor Linklaters. +, Linklaters 5. +0, , *. +, ,... Clifford Chance * 5. 9, Clifford Chance 5. 0, , , Davis Polk & Wardwell 5 5.0, Latham & Watkins *. + 5,0.. 0 Cleary Gottlieb Steen & Hamilton *.0 5, Freshfields Bruckhaus Deringer 9*. + 5, Simpson Thacher & Bartlett * *.0 +, Allen & Gledhill *.0 + 5, Shearman & Sterling LLP *., Cleary Gottlieb Steen & Hamilton 9 *.,..9.0 Latham & Watkins 9. 5,..0. Anderson Mori & Tomotsune 0* *., Mayer Brown LLP 0 9*. + 5, Commerce & Finance Law Offices 0* *., Milbank Tweed Hadley & McCloy * 0* 5 0.9, Shearman & Sterling LLP * 9* , Skadden * 0* 5 0.9, * * , Cravath, Swaine & Moore * 0., , Haiwen & Partners * 9* 0. +, Baker & McKenzie 5* 9* 0.5 0, %.% Herbert Smith Freehills 5* * 0.5 +, % 5.5% King & Wood Mallesons 5* * * * 0.5 +, Allen & Gledhill 9* 9* Commerce & Finance Law Offices 9* 5 0., , %.%.% 5.5%

11 Full Year 0 Global Capital Markets Legal Advisors ASIA PACIFIC (EX JAPAN) CAPITAL MARKETS REVIEW Asia Pac G Bonds ex Australasia, Central Asia (BV) Asia Pac G Bonds ex Australasia, Central Asia (BV) Manager Legal Advisor Linklaters 9. +, Linklaters 9. +, Clifford Chance Latham & Watkins * ,. 5, Clifford Chance ,00., Allen & Gledhill *. + 5, Davis Polk & Wardwell., * * 0., Cleary Gottlieb Steen & Hamilton , * 0., Simpson Thacher & Bartlett * 0. +, Freshfields Bruckhaus Deringer 5*.9 +, Shearman & Sterling LLP *.9,...5 Cleary Gottlieb Steen & Hamilton Commerce & Finance Law Offices 9 * *..,., Latham & Watkins Mayer Brown LLP 9* * ,., Shearman & Sterling LLP 0* 5* 5. +, Skadden 9* * 5., * * 5. +, Haiwen & Partners * 9* 0.9 +, Deheng Law Offices * 0.9,55.. Milbank Tweed Hadley & McCloy * 9* 0.9,...9 Davis Polk & Wardwell * * 0.9, Baker & McKenzie * * 0. +, Mori Hamada & Matsumoto * Cravath, Swaine & Moore * 0.,0..0 Milbank Tweed Hadley & McCloy * * King & Wood Mallesons * * J Sagar Associates * 5* 0.9 0, * 5* WongPartnership LLP * 0.9,9. 0. Allen & Gledhill * 9* Skadden * 5* 0.9 0, Commerce & Finance Law Offices * * 0.5, Mayer Brown LLP 9* * Herbert Smith Freehills * 0.5, Zhong Lun Law Firm 9* * 0. +, , , % 9.%.% 9.% 9.%.% 9.%.% 9

12 Full Year 0 Global Capital Markets Legal Advisors AUSTRALIA CAPITAL MARKETS REVIEW Australia Equity & Equityrelated (BY) Australia Equity & Equityrelated (BY) Proceeds per Advisor (AU$m) Proceeds per Advisor (AU$m) Manager Legal Advisor Baker & McKenzie * 5. +, Baker & McKenzie.0 +, Herbert Smith Freehills * 5. 5, Herbert Smith Freehills 0.5, DLA Piper LLP * Gilbert + Tobin * 9., Ashurst * Clayton Utz * 9., Clayton Utz * Allens * 0*. +, Allens *. +5, Gilbert + Tobin * 5*. +, Ashurst * *., ,..0. Bellanhouse Legal 9* * Linklaters 9* * Steinepreis Paganin 9* HWL Ebsworth Lawyers 9* GTP & Associates K&L Gates * Arnold Bloch Leibler * * Kemp Strang Lawyers * McCullough Robertson * , * 5* Minter Ellison * * 0.5, % 50.% Talbot Sayer Lawyers * * %.0% , % 50.%.%.0% Australia International Bonds (BW) Australia International Bonds (BW) Manager Legal Advisor. +, , , Linklaters * 9. +, Shimazaki Law Firm 5* * Linklaters * *. +,..9. * *. +, * 5*. 0, Hogan Lovells 5 * Anderson Mori & Tomotsune Herbert Smith Freehills * * Herbert Smith Freehills * Lee & Lee * Baker & McKenzie * * Cravath, Swaine & Moore * King & Wood Mallesons 9* Clifford Chance * * Homburger 9* Milbank Tweed Hadley & McCloy * Mayer Brown LLP 9* * Mayer Brown LLP * * 0.5 0, Lee & Lee 9* * 0. Simpson Thacher & Bartlett * * Hogan Lovells 9* * 0. WongPartnership LLP * Freshfields Bruckhaus Deringer 9* , Russell McVeagh 9* * Zhong Lun Law Firm 9* %.% , % 5.%.%.%.% 5.% 0

13 Full Year 0 Global Capital Markets Legal Advisors JAPAN CAPITAL MARKETS REVIEW Japan Common Stock (JL) Japan Common Stock (JL) Nagashima Ohno & Tsunematsu 9.,9.9.. Mori Hamada & Matsumoto., Anderson Mori & Tomotsune 9 5., Nishimura & Asahi.5,5..5. Simpson Thacher & Bartlett 5*., * Commerce & Finance Law Offices Maples & Calder Lee and Li Morgan Lewis & Bockius * * * * * * 9* 9* Morrison & Foerster * * * Cleary Gottlieb Steen & Hamilton * 0., , %.% 0.0%.% Manager Legal Advisor Anderson Mori & Tomotsune 0.5 +, Mori Hamada & Matsumoto *.5, Davis Polk & Wardwell *., * *., Simpson Thacher & Bartlett 5.,...5 Morgan Lewis & Bockius * * Nagashima Ohno & Tsunematsu * * Jingtian & Gongcheng Nishimura & Asahi Paul Hastings LLP * * * * * 9* Skadden * , % 0.0%.%.% Samurai Bonds (JL5) Samurai Bonds (JL) Manager Legal Advisor Anderson Mori & Tomotsune., Nishimura & Asahi 9.0, Clifford Chance 5., Anderson Mori & Tomotsune. 0, Shimazaki Law Firm * 5., Nagashima Ohno & Tsunematsu 5. 0, * , Baker & McKenzie Mori Hamada & Matsumoto 5* , Nagashima Ohno & Tsunematsu 5* 0.5, , % 9.0%.%.9% 5.5% 9.0%.%.9%

14 Full Year 0 Global Capital Markets Legal Advisors Ranking Criteria Summary If you would like to participate in the submission process, receive quarterly press releases, or have questions about our full league table criteria please contact: United States Salvatore Reres Tel: salvatore.reres@thomsonreuters.com Europe Ian Willmott Tel: + (0) ian.willmott@thomsonreuters.com AsiaPacific Carina CausonIsrael Tel: carina.causon@thomsonreuters.com Japan Aki Sato Tel: aki.sato@thomsonreuters.com Canada Gavin Penny Tel: gavin.penny@thomsonreuters.com All current data and previous year's data is as of 0:0am EST on January, 0. Full credit is given to the issuer s legal counsel and manager s legal counsel. All rankings exclude General Counsel. Rankings are accumulated based on number of transactions per advisor. Rankings based on proceeds are available on product. Time periods for league tables will be based upon pricing/launch date. Where applicable, all league tables include Rule a transactions. All league tables exclude pure private placements. Medium Term Notes programs are excluded but Medium Term Note takedowns are included. MTN takedowns from continuously offered retail programs are tracked but are not eligible for league table credit. Initial Public Offering league tables include only transactions where the common stock has never before traded publicly in any market. Standard league table exclusions: best efforts offerings, nonunderwritten transactions and direct placements, rights offerings, transactions that mature or are callable/putable less than 0 days after settlement, CD's, Deposit Notes & Bank Notes, Federal Credit Agency transactions (US Only), exchange offers, and offerings by closedend funds/trusts. High Yield is defined as securities with an S&P rating equal to or less than BB+ and a Moody s rating equal to or less than Ba. Securities not rated by both agencies are assumed high yield with the exception of certain issuers (e.g., Federal Credit Agencies). Certificates of Deposit, General Term Notes, and Splitjunk rated securities (i.e., securities with an investment grade rating from one agency and a high yield rating from the other) are excluded. Nonconvertible preferred stock transactions are included. Mortgage and assetbacked securities collateralizing first lien mortgages, home improvement loans, manufactured housing contracts, home equity lines of credit and second liens are subject to the classification rules detailed in the Rules for Categorizing Mortgage and Assetbacked Securities letter dated January, 00. Canadian equity league tables include best efforts deals, private placements in public entities (PIPES), preferred shares and retail structured products, selffunded issuance. League Tables are denominated in Canadian dollars. Canadian debt league tables include government debt consisting of federal, provincial, and municipal issues, corporate bonds, maples and selffunded issuance. League tables are denominated in Canadian dollars. Federal Credit Agency issuance is excluded in all regional and global league table rankings. 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. 0 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.

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