Citi Depositary Receipt Services Year End 2016 Report

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Top Most Liquid DR Programs1,2
1 Data as of December 31, 2016.
2DR trading volume has been unadjusted for certain corporate actions
including stock splits, stock dividends and rights offerings.
3Other (1%) includes Peru and Panama.
4Other (1%) includes Columbia and Panama.
DR ACCESS PRODUCTS
ABOUT CITI DEPOSITARY
RECEIPT SERVICES
INTERNATIONAL
INVESTING TRENDS
REGIONAL TRENDS
GLOBAL DR TRENDS
ARGENTINA
BRAZIL
MEXICO
CHILE
OTHER4
PERU
84%
1% 1% 1 %
2%
11%
DR Trading Volume1,2
Total DR Trading Volume: 49B
Source: Bloomberg.
Issuer Country Exchange
2016 Volume
(DR Millions)
Vale SA Brazil NYSE 10,547.8
Petroleo Brasileiro SA Brazil NYSE 9,962.8
Itau Unibanco Holding SA Brazil NYSE 3,919.3
Banco Bradesco SA Brazil NYSE 3,205.6
Ambev SA Brazil NYSE 4,180
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Citi Depositary Receipt Services Year-End 2016 Report