Citi DR Mid-Year 2018 Report

Global DR Capital Raisings GLOBAL EMEA 10 Total Capital Raisings $8.4bn Total Capital Raisings $1.3bn DR Capital Raisings Highlights • Total DR capital raised was up 104% versus first half of 2017 • DR IPO capital raisings up 260% to $5.7 billion • DR follow-on capital raisings up 7% to $2.7 billion • ADR capital raisings up 115% to $7.4 billion • GDR capital raisings up 48% to $1.0 billion • 13 issuers completed IPOs by way of the JOBS Act 32 11 Year-over-Year Change # of Capital Raisings Year-over-Year Change Year-over-Year Change # of Capital Raisings Year-over-Year Change The JOBS Act of 2012: The Jumpstart Our Business Startups Act (JOBS Act) was enacted by the U.S. Congress in 2012 to encourage more companies, including non-U.S. companies, to raise capital through initial public offerings and list in the U.S. 104 33 -15 Data as of June 30, 2018. 12