Mid-Year Report

LATAM NORTH AMERICA International Investor Highlights • The value of institutional holdings of DRs was $1,088.6 billion as disclosed in June 2019 • In terms of investor type, Mutual funds accounted for roughly 76% of the DR value held • In terms of investment style, growth, value and GARP funds accounted for roughly 68% of the DR value held Institutional DR $1,088.6bn Total Value of DRs Held DR VALUE HELD $770.0bn 71% of Total DR VALUE HELD $5.3bn 1% of Total 26