Mid-Year Report

Global DR Liquidity by Industry DR Trading Value (in USD Billions) 1 INDUSTRY YTD June 2019 VALUE CHANGE vs. YTD June 2018 Internet $640 -27% Oil & Gas $151 -21% Pharmaceuticals $136 4% Banks $125 -6% Software $107 -5% Telecommunications $78 1% Semiconductors $71 -16% Iron/Steel $62 -7% Mining $61 -9% Beverages $46 -26% DR Trading Volume (in Billions) 1 INDUSTRY YTD June 2019 VOLUME CHANGE vs. YTD June 2018 Internet 12 1% Banks 12 5% Telecommunications 8 21% Oil & Gas 7 -25% Iron/Steel 6 7% Pharmaceuticals 5 18% Beverages 4 19% Auto Manufacturers 4 782% Software 4 54% Mining 4 -6% Global DR Trends by Sector 1 Represents the top 10 industries as defined by Bloomberg. 16