Citi Depositary Receipt Services Year-End 2017 Report

Top Most Liquid DR Programs 1 1 Data as of December 31, 2017. 2 Aggregate value of IPO and one (1) follow-on capital raising: 422MM (April 17, 2017), 327MM (September 19, 2017). DR ACCESS PRODUCTS ABOUT CITI DEPOSITARY RECEIPT SERVICES INTERNATIONAL INVESTING TRENDS REGIONAL TRENDS GLOBAL DR TRENDS ARGENTINA BRAZIL MEXICO CHILE COLOMBIA OTHER PERU 82 % 1 % < 1 % 1 % 2 % 3 % 11 % DR Trading Volume 1 Total DR Trading Volume: 41.0B Source: Bloomberg. Issuer Country Exchange 2017 Volume (DR Millions) Vale SA Brazil NYSE 8,888.7 Petroleo Brasileiro SA Brazil NYSE 6,258.2 Ambev SA Brazil NYSE 5,164.2 Itau Unibanco Holding SA Brazil NYSE 2,781.2 Banco Bradesco SA Brazil NYSE 2,709.7 33 Citi Depositary Receipt Services Year-End 2017 Report