Citi Depositary Receipt Services Year End 2020 Report

Global DR Liquidity by Industry DR Trading Value (in USD Billions) INDUSTRY 2020 VALUE CHANGE VS. 2019 Internet $2,059 61% Auto Manufacturers $792 1489% Software $412 162% Oil & Gas $363 17% Pharmaceuticals $322 27% Semiconductors $279 96% Banks $245 -1% Telecommunications $178 19% Mining $163 30% Biotechnology $144 87% DR Trading Volume (in Billions) INDUSTRY 2020 VOLUME CHANGE VS. 2019 Banks 34 39% Auto Manufacturers 33 260% Internet 30 32% Oil & Gas 22 60% Telecommunications 19 21% Iron/Steel 12 14% Pharmaceuticals 12 21% Software 10 67% Mining 9 5% Beverages 9 26% Global DR Trends by Sector 16