Citi Depositary Receipt Services Year-End 2017 Report

DR ACCESS PRODUCTS ABOUT CITI DEPOSITARY RECEIPT SERVICES INTERNATIONAL INVESTING TRENDS REGIONAL TRENDS GLOBAL DR TRENDS By Trading Value 1 By Trading Volume 1 Issuer Country Exchange 2017 Value (USD Billions) Alibaba Group Holding Ltd China NYSE $583.4 Baidu Inc China NASDAQ $132.4 JD.com Inc China NASDAQ $112.3 NetEase Inc China NASDAQ $95.7 Teva Pharmaceutical Industries Ltd Israel NYSE $89.2 Vale SA Brazil NYSE $85.3 Royal Dutch Shell PLC UK NYSE $73.0 ASML Holding NV Netherlands NASDAQ $64.8 Petroleo Brasileiro SA Brazil NYSE $59.0 British American Tobacco PLC UK NYSE $57.8 Issuer Country Exchange 2017 Volume (Millions) Vale SA Brazil NYSE 8,888.7 Petroleo Brasileiro SA Brazil NYSE 6,258.2 Ambev SA Brazil NYSE 5,164.2 Teva Pharmaceutical Industries Ltd Israel NYSE 4,167.2 Alibaba Group Holding Ltd China NYSE 3,893.1 Gazprom PJSC Russia LSE 3,506.6 Nokia OYJ Finland NYSE 3,382.0 JD.com Inc China NASDAQ 2,906.7 Itau Unibanco Holding SA Brazil NYSE 2,781.2 Banco Bradesco SA Brazil NYSE 2,709.7 Top Ten Most Liquid DR Programs Source: Bloomberg and Depositary Data Interchange. 1 Data as of December 31, 2017. 11 Citi Depositary Receipt Services Year-End 2017 Report