Mid-Year Report

Global DR Capital Raisings GLOBAL EMEA 58 Total Capital Raisings $10.4bn Total Capital Raisings $2.0bn DR Capital Raisings Highlights • Total DR capital raised was up 25% versus first half of 2018 • DR IPO capital raisings down 23% to $4.3 billion • DR follow-on capital raisings up 125% to $6.1 billion • ADR capital raisings up 18% to $8.7 billion • GDR capital raisings up 77% to $1.7 billion • 16 issuers completed IPOs by way of the JOBS Act 37 15 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. 25 16 36 Data as of June 30, 2019. 12