Year-End 2018 Report

Top Institutional Holders of DRs 1 Investment Style and Investor Type as defined by Ipreo. Data as of Q3 2018. 2 GARP Funds: Growth at a Reasonable Price (GARP) investors hold securities that are trading at a discount to the market, but are expected to grow at a higher than the market or industry average. These companies are typically out of favor systematically or temporarily. This is a more conservative investment style compared to an outright growth-oriented strategy. Dividend yield is generally not a concern of GARP investors. 75 % 8 % 6 % 3 % 2 % 1 % 2 % 3 % MUTUAL FUND HEDGE FUND INVESTMENT MANAGER PENSION FUND-STATE/GOVERNMENT SOVEREIGN WEALTH FUND BROKER CORPORATE OTHER Institutional DR Ownership (cont.) By Investor Type 1 By Investment Style 1,2 1,628 DR Program 31 % 26 % 11 % 10 % 8 % 3 % 3 % 3 % 2 % 1 % 1 % 1 % GROWTH VALUE INDEX GARP ALTERNATIVE DEEP VALUE OTHER EXTERNALLY MANAGED SPECIALITY YIELD BROKER AGGRESSIVE GROWTH Total Value of DRs Held: $1,071.3B Total Value of DRs Held: $1,071.3B 38