Mid Year Report 2020

DR ACCESS PRODUCTS ABOUT CITI DEPOSITARY RECEIPT SERVICES INTERNATIONAL INVESTING TRENDS GLOBAL DR TRENDS By Trading Value 1 By Trading Volume 1 Issuer Country Exchange YTD June 2020 Value (USD Billions) Alibaba Group Holding Ltd China NYSE $464.0 JD.com Inc China NASDAQ $95.1 Baidu Inc China NASDAQ $67.1 Royal Dutch Shell PLC UK NYSE $64.7 Taiwan Semiconductor Manufacturing Co Ltd Taiwan NYSE $62.2 Pinduoduo Inc China NASDAQ $51.5 BP PLC UK NYSE $47.9 LuckinCoffee Inc China OTC $47.5 Petroleo Brasileiro SA Brazil NYSE $44.8 Sea Ltd Singapore NYSE $39.2 Issuer Country Exchange YTD June 2020 Volume (Millions) NIO Inc China NYSE 8,006.6 Petroleo Brasileiro SA Brazil NYSE 5,136.1 Itau Unibanco Holding SA Brazil NYSE 4,319.0 Ambev SA Brazil NYSE 4,235.3 Nokia Oyj Finland NYSE 4,064.1 Vale SA Brazil NYSE 3,744.7 Luckin Coffee Inc China OTC 3,666.7 Banco Bradesco SA Brazil NYSE 2,686.0 Alibaba Group Holding Ltd China NYSE 2,243.0 Teva Pharmaceutical Industries Ltd Israel NYSE 2,156.5 Top 10 Most Liquid DR Programs Source: Bloomberg and Depositary Data Interchange. 1 Data as of June 30, 2020. 11 Citi Depositary Receipt Services Mid-Year 2020 Report