Citi DR Mid-Year 2018 Report

Global DR Liquidity by Industry DR Trading Value (in USD Billions) 1 INDUSTRY YTD June 2018 VALUE CHANGE vs. YTD June 2017 Internet $875 135% Oil & Gas $191 22% Banks $133 2% Pharmaceuticals $131 -6% Software $108 37% Semiconductors $85 32% Telecommunications $77 8% Mining $73 0% Iron/Steel $67 -12% Beverages $63 22% DR Trading Volume (in Billions) 1 INDUSTRY YTD June 2018 VOLUME CHANGE vs. YTD June 2017 Internet 12 91% Banks 10 -16% Oil & Gas 9 -5% Telecommunications 6 7% Iron/Steel 5 -27% Pharmaceuticals 4 14% Mining 4 -21% Beverages 3 3% Semiconductors 2 -15% Software 2 105% Global DR Trends by Sector 1 Represents the top 10 industries as defined by Bloomberg. 16