CANADA CAPITAL MARKETS

CANADA CAPITAL MARKETS LEAGUE TABLES Q1 2019 Preliminary As of 22 March 2019

Q1 2019 PRELIMINARY AS OF 22 MARCH 2019 MANAGER RANKINGS CANADA CAPITAL MARKETS The Capital Markets Tables represent the top arrangers, bookrunners and advisors across a broad array of deal types including loans, bonds, equity and M&A transactions; according to standards. LEAG<GO> for a full range of league tables MA<GO> for a full range of merger & acquisition tables NI LEAG CRL<GO> or http://www.bloomberg.com/ for a full range of market-specific league table publications Due to the dynamic nature of the Professional Service product, league table rankings may vary between this release and data found on the Professional Service. DATA SUBMISSIONS AND QUERIES Contact Phone Email Equities Alexa Abraham +1 646 324 2849 calendar@bloomberg.net Fixed Income Andrea Niper +1 609 279 3880 newissues@bloomberg.net Loans Paul Bandong +1 609 279 5187 loansleag@bloomberg.net 2019 Finance L.P. All rights reserved.

Canadian Corporate Bonds: Industry Breakdown Canadian Corporate Bonds 12% 8% Firm Mkt Volume (CAD Mln) Deal Count Prev Prev Mkt Mkt Share Chg(%) BMO Capital Markets 1 22.347 4,931 18 1 22.728-0.381 RBC Capital Markets 2 21.708 4,790 31 4 13.105 8.603 TD Securities 3 19.345 4,269 20 2 22.491-3.146 CIBC 4 17.230 3,802 19 5 11.592 5.638 Scotiabank 5 13.926 3,073 15 3 14.739-0.813 National Bank Financial Inc 6 2.967 655 4 6 5.973-3.006 Wells Fargo 7 1.133 250 1 - - 1.133 Laurentian Bank of Canada 8 1.020 225 1 9 2.096-1.076 HSBC 9 0.324 71 1 8 2.192-1.868 TOTAL 100% 22,067 44 100% This table consists of debt securities issued by corporate issuers, in CAD with market of issue "Canadian", "Domestic, "Domestic MTN", "Global", "Maple" or "Private Placement". This excludes mortgages, bonds with warrants, credit-linked securities, government issuers, and structured notes. There is a minimum threshold of 18 months for maturities, call or put periods, and CAD 50MM minimum amount for self-led securities. Please see League Table Standards and Guidelines for further details. 48% 12% 20% Financials 48% Utilities 20% Consumer Discretionary 12% Industrials 12% Energy 8% Others 1% Canadian Corporate Bonds: Manager ings History Market Share (%) 25 20 15 10 5 0 BMO Capital Markets 2019 2018 2017 RBC Capital Markets TD Securities CIBC Scotiabank National Bank Financial Inc League Table Reports Page 1

Canadian Corporate Bonds - Bonus Canadian Government Bonds Firm Mkt Volume (CAD Mln) Deal Count Prev Prev Mkt Mkt Share Chg(%) BMO Capital Markets 1 20.959 4,625 32 1 20.746 0.213 TD Securities 2 18.765 4,141 34 2 19.019-0.254 RBC Capital Markets 3 15.717 3,468 35 5 9.491 6.226 CIBC 4 14.956 3,300 31 4 11.518 3.438 Scotiabank 5 8.580 1,893 30 3 13.841-5.261 National Bank Financial Inc 6 6.951 1,534 21 6 6.299 0.652 Desjardins Capital Markets 7 2.408 531 10 10 2.348 0.060 Laurentian Bank of Canada 8 2.137 472 6 8 2.883-0.746 Bank of America Merrill Lynch 9 1.652 365 6 11 1.996-0.344 Wells Fargo 10 1.620 358 4 15 0.572 1.048 HSBC 11 1.408 311 8 7 3.005-1.597 Casgrain & Co 12 1.178 260 9 12 1.034 0.144 Citi 13 0.912 201 3 14 0.724 0.188 Manulife Financial Corp 14 0.780 172 2 16 0.442 0.338 Mitsubishi UFJ Financial Group Inc 15 0.608 134 4 20 0.273 0.335 BNP Paribas 16 0.302 67 2 17 0.318-0.016 Raymond James & Associates 17 0.261 58 3 22 0.218 0.043 Canaccord Genuity 18 0.227 50 2 26 0.136 0.091 Goldman Sachs 19 0.206 45 1 13 0.861-0.655 Brookfield Financial Corp 20 0.113 25 1 - - 0.113 TOTAL 100% 22,067 44 100% Canada Corporate Bonds - Exclude Self-Led Firm Mkt Volume (CAD Mln) Deal Count Prev Prev Mkt Mkt Share Chg(%) RBC Capital Markets 1 35.905 4,790 31 1 22.274 13.631 CIBC 2 19.129 2,552 18 4 15.815 3.314 TD Securities 3 17.005 2,269 19 2 22.030-5.025 BMO Capital Markets 4 16.350 2,181 16 3 17.575-1.225 Scotiabank 5 9.916 1,323 14 5 12.095-2.179 National Bank Financial Inc 6 1.160 155 3 8 2.054-0.894 HSBC 7 0.535 71 1 6 3.725-3.190 TOTAL 100% 13,342 37 100% Firm Mkt Volume (CAD Mln) Deal Count Prev Prev Mkt Mkt Share Chg(%) National Bank Financial Inc 1 23.311 6,222 26 2 19.013 4.298 TD Securities 2 20.897 5,578 13 1 23.352-2.455 RBC Capital Markets 3 17.796 4,750 19 4 14.640 3.156 Scotiabank 4 14.378 3,838 6 5 13.477 0.901 BMO Capital Markets 5 11.108 2,965 13 3 16.213-5.105 CIBC 6 7.647 2,041 14 6 9.794-2.147 Desjardins Capital Markets 7 2.417 645 3 9 0.669 1.748 HSBC 8 1.461 390 2 7 1.573-0.112 Bank of America Merrill Lynch 9 0.712 190 1 8 0.968-0.256 Casgrain & Co 10 0.142 38 2 10 0.302-0.160 Laurentian Bank of Canada 11 0.131 35 1 - - 0.131 TOTAL 100% 26,690 70 100% Canada Government Bonds - Allocation Firm Mkt Volume (CAD Mln) Deal Count Prev Prev Mkt Mkt Share Chg(%) TD Securities 1 13.900 3,707 43 1 15.236-1.336 RBC Capital Markets 2 13.559 3,616 42 2 13.260 0.299 CIBC 3 13.204 3,521 41 5 11.833 1.371 BMO Capital Markets 4 12.043 3,211 37 3 12.432-0.389 National Bank Financial Inc 5 11.671 3,112 51 4 11.907-0.236 Scotiabank 6 10.729 2,861 31 6 10.925-0.196 Desjardins Capital Markets 7 7.644 2,039 30 7 7.142 0.502 Bank of America Merrill Lynch 8 4.898 1,306 21 8 5.220-0.322 Casgrain & Co 9 4.093 1,091 32 10 3.696 0.397 HSBC 10 3.558 949 19 9 3.978-0.420 Laurentian Bank of Canada 11 3.537 943 29 11 3.400 0.137 Canaccord Genuity 12 0.602 161 15 12 0.437 0.165 SEB 13 0.210 56 1 13 0.169 0.041 Beacon Securities 14 0.202 54 6 14 0.123 0.079 BNP Paribas 15 0.120 32 1 15 0.121-0.001 Credit Agricole CIB 16 0.030 8 1 15 0.121-0.091 TOTAL 100% 26,667 69 100% League Table Reports Page 2

Canada Equity, Equity Linked & Preferred: Industry Breakdown Firm Mkt Canada Equity, Equity Linked & Preferred Volume (CAD Mln) Deal Count Prev Prev Mkt Mkt Share Chg(%) CIBC 1 26.551 1,242 10 9 4.451 22.100 RBC Capital Markets 2 22.908 1,072 11 4 9.033 13.875 BMO Capital Markets 3 16.594 776 12 5 7.981 8.613 TD Securities 4 6.673 312 5 1 15.830-9.157 Cowen & Co 5 5.036 236 2 - - 5.036 National Bank Financial Inc 6 4.398 206 6 6 7.958-3.560 Scotiabank 7 2.676 125 4 10 4.271-1.595 JP Morgan 8 1.966 92 1 21 0.429 1.537 Goldman Sachs 9 1.639 77 1 - - 1.639 Eight Capital 10 1.533 72 2 11 3.625-2.092 Desjardins Capital Markets 11 1.263 59 1 18 0.702 0.561 Sprott Capital Partners 12 1.148 54 3 34 0.060 1.088 GMP Securities 13 1.034 48 4 8 5.480-4.446 Canaccord Genuity 14 0.874 41 9 2 11.223-10.349 AltaCorp Capital 15 0.802 38 1 - - 0.802 Bloom Burton & Co 16 0.655 31 2 24 0.390 0.265 Laurentian Bank of Canada 17 0.646 30 2 34 0.060 0.586 Cormark Securities Inc 18 0.615 29 2 19 0.622-0.007 Haywood Securities 19 0.531 25 8 14 1.290-0.759 Cantor Fitzgerald 20 0.328 15 1 26 0.276 0.052 TOTAL 100% 4,678 70 100% Financials 41% Materials 16% Utilities 14% Health Care 14% Consumer Discretionary 8% Communications 6% Others 2% Canada Equity, Equity Linked & Preferred: Manager ings History Market Share (%) 30 20 10 14% 8% 14% 6% 2% 16% 41% 2019 2018 2017 This table consists of equity, equity-linked & preferred securities issued by Canadian issuers. This excludes AIM-listed securities, bonds with warrants, closed-end fund or investment trust issuers, credit linked notes, local market share sales, reverse convertibles, rights offerings, self-led transactions or synthetic convertibles. There is a minimum threshold of 12 month minimum call, put and maturity periods. Note: Issuer country is determined by country of incorporation. See {FIFW DOCS 2073227<GO>} for applicable generic criteria and market of syndication definition and waterfalls. 0 CIBC RBC Capital Markets BMO Capital Markets TD Securities Cowen & Co National Bank Financial Inc League Table Reports Page 3

Canada Equity & Equity Linked Canada Equity Offerings Firm Mkt Volume (CAD Mln) Deal Count Prev Prev Mkt Mkt Share Chg(%) CIBC 1 26.975 1,201 8 9 4.577 22.398 RBC Capital Markets 2 23.148 1,031 9 6 7.933 15.215 BMO Capital Markets 3 16.515 735 10 4 8.675 7.840 TD Securities 4 6.093 271 3 1 14.210-8.117 Cowen & Co 5 5.291 236 2 - - 5.291 National Bank Financial Inc 6 4.152 185 5 7 7.267-3.115 JP Morgan 7 2.066 92 1 21 0.468 1.598 Scotiabank 8 1.894 84 2 11 2.492-0.598 Goldman Sachs 9 1.722 77 1 - - 1.722 Eight Capital 10 1.611 72 2 10 3.952-2.341 Desjardins Capital Markets 11 1.327 59 1 18 0.739 0.588 Sprott Capital Partners 12 1.206 54 3 34 0.065 1.141 GMP Securities 13 1.086 48 4 8 5.948-4.862 Canaccord Genuity 14 0.918 41 9 2 12.209-11.291 AltaCorp Capital 15 0.842 38 1 - - 0.842 Bloom Burton & Co 16 0.689 31 2 24 0.425 0.264 Laurentian Bank of Canada 17 0.678 30 2 34 0.065 0.613 Cormark Securities Inc 18 0.646 29 2 19 0.678-0.032 Haywood Securities 19 0.557 25 8 14 1.406-0.849 Cantor Fitzgerald 20 0.345 15 1 26 0.301 0.044 TOTAL 100% 4,453 68 100% Canada Equity IPO Firm Mkt Volume (CAD Mln) Deal Count Prev Prev Mkt Mkt Share Chg(%) BMO Capital Markets 1 30.415 92 1 1 19.240 11.175 JP Morgan 1 30.415 92 1 - - 30.415 National Bank Financial Inc 1 30.415 92 1 - - 30.415 Haywood Securities 4 4.331 13 6 5 6.439-2.108 CIBC 5 1.074 3 1 1 19.240-18.166 RBC Capital Markets 5 1.074 3 1 1 19.240-18.166 Industrial Alliance Insurance & Financial 7 0.661 2 1 12 0.089 0.572 Canaccord Genuity 8 0.562 2 4 7 5.039-4.477 Emerging Equities 9 0.417 1 1 - - 0.417 Pacific International Securities Inc 10 0.331 1 2 9 1.472-1.141 AGP / Alliance Global Partners Corp 11 0.206 0.62 1 - - 0.206 Mackie Research Capital Corp 12 0.100 0.30 1 6 5.116-5.016 TOTAL 100% 302 18 100% Firm Mkt Volume (CAD Mln) Deal Count Prev Prev Mkt Mkt Share Chg(%) CIBC 1 33.237 1,176 7 10 3.596 29.641 RBC Capital Markets 2 24.796 878 8 8 5.889 18.907 BMO Capital Markets 3 9.987 353 8 5 8.060 1.927 TD Securities 4 7.667 271 3 1 14.438-6.771 National Bank Financial Inc 5 2.964 105 3 6 6.766-3.802 JP Morgan 6 2.599 92 1 21 0.570 2.029 Scotiabank 7 2.384 84 2 18 0.794 1.590 Goldman Sachs 8 2.166 77 1 - - 2.166 Eight Capital 9 2.027 72 2 9 4.814-2.787 Desjardins Capital Markets 10 1.670 59 1 16 0.900 0.770 Sprott Capital Partners 11 1.518 54 3 34 0.079 1.439 GMP Securities 12 1.367 48 4 7 6.540-5.173 AltaCorp Capital 13 1.060 38 1 - - 1.060 Canaccord Genuity 14 0.965 34 8 3 9.932-8.967 Bloom Burton & Co 15 0.866 31 2 24 0.517 0.349 Cormark Securities Inc 16 0.813 29 2 17 0.826-0.013 Haywood Securities 17 0.511 18 7 13 1.713-1.202 Cantor Fitzgerald 18 0.434 15 1 26 0.366 0.068 B Riley & Co 19 0.432 15 1 - - 0.432 Raymond James & Associates 20 0.416 15 1 25 0.458-0.042 TOTAL 100% 3,539 63 100% Canadian Retail Structured Products Firm Mkt Volume (CAD Mln) Deal Count Prev Prev Mkt Mkt Share Chg(%) CIBC 1 13.319 15 4 2 21.463-8.144 National Bank Financial Inc 1 13.319 15 4 4 14.299-0.980 RBC Capital Markets 1 13.319 15 4 1 37.430-24.111 Scotiabank 1 13.319 15 4 3 21.087-7.768 AGP / Alliance Global Partners Corp 5 4.248 5 1 - - 4.248 BMO Capital Markets 5 4.248 5 1 5 0.636 3.612 Canaccord Genuity 5 4.248 5 1 5 0.636 3.612 Desjardins Capital Markets 5 4.248 5 1 5 0.636 3.612 GMP Securities 5 4.248 5 1 5 0.636 3.612 Haywood Securities 5 4.248 5 1 - - 4.248 Industrial Alliance Insurance & Financial 5 4.248 5 1 5 0.636 3.612 Mackie Research Capital Corp 5 4.248 5 1 5 0.636 3.612 Manulife Financial Corp 5 4.248 5 1 - - 4.248 Raymond James & Associates 5 4.248 5 1 5 0.636 3.612 TD Securities 5 4.248 5 1 5 0.636 3.612 TOTAL 100% 115 4 100% League Table Reports Page 4

Canada Loans (Bookrunner): Industry Breakdown Firm Mkt Canada Loans (Bookrunner) Volume (CAD Mln) Deal Count Prev Prev Mkt Mkt Share Chg(%) TD Securities 1 21.311 8,675 18 5 11.352 9.959 CIBC 2 20.654 8,408 18 3 16.079 4.575 BMO Capital Markets 3 15.558 6,334 10 2 17.102-1.544 Scotiabank 4 13.104 5,335 13 1 17.114-4.010 RBC Capital Markets 5 8.975 3,653 11 4 13.616-4.641 BNP Paribas 6 4.415 1,797 1 13 1.020 3.395 Societe Generale 6 4.415 1,797 1 - - 4.415 National Bank Financial Inc 8 4.024 1,638 4 8 3.201 0.823 Citi 9 3.685 1,500 2 9 2.549 1.136 HSBC 10 2.310 940 2 7 3.770-1.460 Kohlberg Kravis Roberts & Co 11 0.491 200 1 - - 0.491 ING Groep 12 0.402 164 1 21 0.030 0.372 Comerica Inc 13 0.272 111 1 - - 0.272 Bank of America Merrill Lynch 14 0.246 100 1 10 1.919-1.673 Antares Capital LP 15 0.111 45 2 26 0.021 0.090 Barings LLC 16 0.026 11 1 26 0.021 0.005 TOTAL 100% 40,708 53 100% This table consists of loans with a market of syndication as Canada. This excludes bilateral and institutional loans. There is a minimum threshold of 3 months for maturities. Please see League Table Standards and Guidelines for further details. Market Share (%) 9% 6% 28% 9% 12% 19% 18% Energy 28% Materials 19% Government 18% Consumer Discretionary 12% Industrials 9% Financials 6% Others 9% Canada Loans: Bookrunner ings History 25 20 15 10 5 0 TD Securities 2019 2018 2017 CIBC BMO Capital Markets Scotiabank RBC Capital Markets BNP Paribas Societe Generale League Table Reports Page 5

Canada Loans (Mandated Lead Arranger) Canada Loans (Administrative Agent) Firm Mkt Volume (CAD Mln) Deal Count Prev Prev Mkt Mkt Share Chg(%) TD Securities 1 20.455 8,327 18 5 10.955 9.500 CIBC 2 17.758 7,229 19 4 15.011 2.747 BMO Capital Markets 3 13.738 5,593 12 1 16.925-3.187 Scotiabank 4 13.737 5,592 15 3 15.260-1.523 RBC Capital Markets 5 11.102 4,520 13 2 16.184-5.082 HSBC 6 5.177 2,107 3 6 5.580-0.403 BNP Paribas 7 4.415 1,797 1 13 1.141 3.274 Societe Generale 7 4.415 1,797 1 - - 4.415 National Bank Financial Inc 9 4.024 1,638 4 8 3.065 0.959 Citi 10 3.173 1,292 2 9 2.540 0.633 ING Groep 11 0.402 164 1 21 0.030 0.372 Kohlberg Kravis Roberts & Co 12 0.393 160 1 - - 0.393 Wells Fargo 12 0.393 160 1 11 1.907-1.514 Comerica Inc 14 0.272 111 1 - - 0.272 Bank of America Merrill Lynch 15 0.246 100 1 10 2.147-1.901 Rabobank 16 0.162 66 1 28 0.006 0.156 Antares Capital LP 17 0.111 45 2 26 0.021 0.090 Barings LLC 18 0.026 11 1 26 0.021 0.005 TOTAL 100% 40,708 53 100% Canada Loans - New Money (Bookrunner) Firm Mkt Volume (CAD Mln) Deal Count Prev Prev Mkt Mkt Share Chg(%) CIBC 1 16.820 1,819 11 4 10.679 6.141 TD Securities 2 15.544 1,681 10 5 9.165 6.379 Scotiabank 3 13.382 1,447 9 1 22.359-8.977 BMO Capital Markets 4 11.316 1,223 8 2 22.284-10.968 BNP Paribas 5 9.234 998 1 9 2.070 7.164 Societe Generale 5 9.234 998 1 - - 9.234 RBC Capital Markets 7 8.102 876 8 3 11.584-3.482 National Bank Financial Inc 8 7.608 823 4 6 8.740-1.132 Citi 9 3.854 417 2 8 2.599 1.255 Kohlberg Kravis Roberts & Co 10 1.850 200 1 - - 1.850 ING Groep 11 1.513 164 1 23 0.021 1.492 Comerica Inc 12 1.026 111 1 - - 1.026 Antares Capital LP 13 0.418 45 2 20 0.033 0.385 Barings LLC 14 0.100 11 1 20 0.033 0.067 TOTAL 100% 10,812 36 100% Firm Mkt Volume (CAD Mln) Deal Count Prev Prev Mkt Mkt Share Chg(%) TD Securities 1 33.709 13,965 15 6 6.788 26.921 CIBC 2 32.581 13,498 13 1 21.375 11.206 Scotiabank 3 14.616 6,055 8 3 18.816-4.200 BNP Paribas 4 8.676 3,594 1 - - 8.676 BMO Capital Markets 5 4.002 1,658 5 4 18.145-14.143 RBC Capital Markets 6 2.377 985 6 2 19.922-17.545 National Bank Financial Inc 7 1.819 753 3 8 1.297 0.522 HSBC 8 1.361 564 1 7 3.753-2.392 Bank of America Merrill Lynch 9 0.724 300 1 5 7.464-6.740 Antares Capital LP 10 0.135 56 2 13 0.041 0.094 TOTAL 100% 41,428 55 100% Canada Loans - New Money (Mandated Lead Arranger) Firm Mkt Volume (CAD Mln) Deal Count Prev Prev Mkt Mkt Share Chg(%) CIBC 1 16.285 1,761 12 2 14.728 1.557 Scotiabank 2 15.032 1,625 11 3 14.682 0.350 TD Securities 3 13.902 1,503 10 5 9.039 4.863 BMO Capital Markets 4 10.784 1,166 9 1 26.059-15.275 BNP Paribas 5 9.234 998 1 9 2.553 6.681 Societe Generale 5 9.234 998 1 - - 9.234 RBC Capital Markets 7 8.249 892 9 4 13.717-5.468 National Bank Financial Inc 8 7.608 823 4 6 8.109-0.501 Citi 9 3.044 329 2 8 2.564 0.480 ING Groep 10 1.513 164 1 22 0.020 1.493 Kohlberg Kravis Roberts & Co 11 1.480 160 1 - - 1.480 Wells Fargo 11 1.480 160 1 17 0.129 1.351 Comerica Inc 13 1.026 111 1 - - 1.026 Rabobank 14 0.610 66 1 21 0.023 0.587 Antares Capital LP 15 0.418 45 2 19 0.032 0.386 Barings LLC 16 0.100 11 1 19 0.032 0.068 TOTAL 100% 10,812 36 100% League Table Reports Page 6

League Tables Criteria General Guidelines Credit is based on the total amount of the offering sold to the public. Full credit is awarded to the sole bookrunning manager or split equally among joint bookrunning managers; unless full, explicit breakdown of bookrunning is provided by an involved party. Regional and local tables are identified based on factors such as currency, market of issuer and/or country of risk/incorporation. Fixed Income All transactions must have a maturity/call/put option of minimum 18 months. Make-whole call and provisional call/put are exempted from this rule. Note: Criteria may vary for some local and/or regional tables. USD denominated 144A/REG S issues are credited 100% to the 144A tranche and 0% to the REG S tranche. Non-USD denominated 144A/REG S issues are credited 100% to the REG S tranche and 0% to the 144A tranche. Selfled transactions are included. New money portions of exchange offers are eligible for credit. Exclusions: Accredited investor tranches, asset-backed issues, auction note agencies, collateralized bond obligations, collateralized loan obligations, commercial paper, municipal bonds, mortgage-backed issues, remarketed issues, repackaged bonds, government borrowing scheme retained bonds, variable principal redemption issues, variable interest equity-linked issues, and credit linked notes, selling group agency issues, strips, units, warrants, self-led under USD 50 million. Note: Criteria may vary for some local and/or regional tables. Equities-Linked Equity-linked transactions: Convertible bonds, convertible preferred stock and exchangeable bonds. Only issues that mature and are callable/ puttable in 12 months or longer are included. Make-whole call, provisional call and provisional put are exempted from this rule. Convertible bonds with attached warrants are included. These are defined as synthetic convertibles with the combination of a fixed income instrument and warrants which can be converted into shares. The embedded warrant can be detachable or non-detachable but the bond and the warrant must be sold as a unit, i.e. there cannot be separate book building for the warrant and the bond. Exclusions: Redemption-linked instruments, reverse convertibles or similar instruments, synthetics convertibles, issues convertible into participation in an underlying fund or investment trust, pre-ipo convertible instruments, certain lower hierarchy titles, i.e. Jr Bookrunner. Equities Equity market transactions: Initial public offerings, additional offerings of common stocks, units, and depositary receipts (ADRs, GDRs, etc) and rights offerings. Exclusions: Non-underwritten/best efforts, privately placed transactions, funds, self-led, preferred offerings, pre-negotiated offerings, certain lower hierarchy titles, i.e. Jr Bookrunner. Note: Criteria may vary for some local and/or regional tables. L.P. reserves the right of final decision concerning league eligibility and requires adequate documentation for the same. L.P. and its suppliers believe the information herein was obtained from reliable sources, but they do not guarantee its accuracy. Neither the information nor the opinion expressed constitutes a solicitation of the purchase or sale of securities or commodities. Due to the dynamic nature of the Professional Service product, League Table rankings may vary between the quarterly/year-end publications and data found on the Professional Service.

League Tables Criteria Loans Includes executed syndicated loans transactions. Full credit is awarded to the banks satisfying the highest of the titles. Full credit is awarded to the sole bookrunning manager or split equally among joint bookrunning managers. Credit is allocated to amended or amended and restated transactions, where each modification is 100% at the lender s option and not as a result of events already built into the original credit agreement. Credit is awarded for the following structural changes only: maturity extensions of three months or more, incremental basis for increased in deal size, reduction in pricing, full release of security. Exclusions: Bilateral transactions, transactions with a maturity of less than three months, loans withdrawn prior to signing, amended or restated securitizations, receivable and guarantee facilities. US Municipals Standard published tables will award deal credit based on true economic credit as reported by the issuer or the bookrunner. In absence of reported economic credit, 100% will be assigned to the bookrunner. Dollar value of credit will be assigned based on the percentage allocation reported for economic credit (or designated by the user in a custom table) and applied against the total par value of the bonds issued. Zero coupon bonds (CABS) or intermediate appreciation bonds (convertible CABs) will be included at the market value (accreted value) on the interest accrual date. All debt issued by municipal issuers will be eligible for league credit. Taxable and tax-exempt debt is eligible for league credit unless a table includes specific tax type criteria. Tax-exempt is defined as federally taxexempt and includes bonds subject to AMT and bonds designated as Bank Qualified. Each table has five potential display formats. Economic Credit displays rankings based on true economic credit allocations of applicable deals. Left Lead assigns 100% credit to the bookrunner and 0% to all other syndicate participants. Deal Count displays rankings based on deal quantity rather than aggregate economic credit amounts. "Participation (100%)" displays rankings based on allocating 100% to each syndicate participant. "Financial Advisor" assigns credit evenly divided between all participating financial advisors. "Bond Counsel" assigns credit evenly divided between all participating bond counsels. US Municipals tables included in the Global Capital Markets and Americas Capital Markets publications are ranked according to true economic credit. A deal refers to the aggregate series within an issuance led by a particular underwriter or syndicate. For example: a $50 million issuance is split into three series- a $10 million Series A, a $20 million Series B, and a $20 million Series C. Bank 1 is the underwriter of Series A & B, while Bank 2 is the underwriter of Series C. Bank 1 would have one deal worth $30 million, and Bank 2 would have one deal worth $20 million. Exclusions: Derivatives, private placements, variable rate preferred securities, and remarketings are excluded from municipal league table eligibility. The full version of s League table Standards & Guidelines can be accessed and subscribed to on the Reports tab on LEAG<GO>. L.P. reserves the right of final decision concerning league eligibility and requires adequate documentation for the same. L.P. and its suppliers believe the information herein was obtained from reliable sources, but they do not guarantee its accuracy. Neither the information nor the opinion expressed constitutes a solicitation of the purchase or sale of securities or commodities. Due to the dynamic nature of the Professional Service product, League Table rankings may vary between the quarterly/year-end publications and data found on the Professional Service.