Mid-Year Report

Issuer Country Industry 2 USD Value (in Millions) Huatai Securities Co., Ltd* China Financials $1,692 Luckin Coffee Inc. China Food & Staples Retailing $678 Linx S.A. Brazil Software & Services $257 Jumia Technologies AG Germany Retailing $225 HeadHunter Group PLC Cyprus Industrials $220 GSX Techedu Inc. China Information Technology $208 So-Young International Inc. China Health Care $179 Genfit France Pharmaceuticals, Biotechnology $145 Ruhnn Holding Limited* China Media $125 Yunji Inc. China Consumer Discretionary $121 UP Fintech Holding Limited China Financials $104 Futu Holdings Limited China Financials $104 Stealth BioTherapeutics Corp.* Cayman Islands Pharmaceuticals, Biotechnology $85 Bicycle Therapeutics* UK Pharmaceuticals, Biotechnology $65 Jiayin Group Inc.* China Diversified Financials $42 BrainsWay Ltd Israel Pharmaceuticals, Biotechnology $31 Anchiano Therapeutics Ltd. Israel Pharmaceuticals, Biotechnology $31 Puyi Inc. China Financials $26 Grand Total $4,337 *Signifies Citi DR program capital raising. IPO Deals in bold italics signify a JOBS Act Deal. 1 Defined as capital raising at the time of listing of a new DR security, data as of June 30, 2019. 2 Industry as defined by Bloomberg. DR IPOs 1 Global DR Capital Raisings (cont.) Source: Bloomberg and Depositary Data Interchange. 14