Year-End 2018 Report

DR Follow-On Offerings 1, 2 Issuer Country Industry 2 South Korea HDFC Bank Limited India Banks $1,820 BeiGene, Ltd.* China Biotechnology $800 GW Pharmaceuticals plc* UK Pharmaceuticals $345 Galapagos NV* Belgium Pharmaceuticals $345 Azul S.A.* Brazil Airlines $313 argenx Netherlands Biotechnology $301 GDS Holdings Ltd. China Telecommunications $292 Amarin Corp. plc* UK Biotechnology $270 Ascendis Pharma A/S Denmark Pharmaceuticals $259 Cellectis S.A.* France Biotechnology $191 Talend SA France Software $190 Bright Scholar China Commercial Services $190 Zai Lab Limited* China Biotechnology $150 Daqo New Energy China Chemicals $110 RISE Education Cayman Ltd. China Commercial Services $103 Adaptimmune Therapeutics plc* UK Biotechnology $100 Nightstar Therapeutics PLC* UK Biotechnology $83 JinkoSolar Holding China Energy-Alternate Sources $75 DBV Technologies S.A.* France Pharmaceuticals $68 RedHill Biopharma Israel Pharmaceuticals $45 Materialise Belgium Software $39 Global DR Capital Raisings (cont.) *Signifies Citi DR program capital raising. 1 Defined as capital raising at the time of listing of additional DR securities including rights offerings and private placements. Data as of December 31, 2018. 2 Industry as defined by Bloomberg. Source: Bloomberg and Depositary Data Interchange. 16