2012 League Tables 2012 League Tables 2012 League Tables GLOBAL LEGAL ADVISER

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1 League Tables League Tables League Tables GLOBAL LEGAL ADVISER //

2 Table of Contents Bloomberg Global Legal Adviser League Tables 0 /02/ Global Legal Adviser U.S. Legal Adviser Canada Legal Adviser EMEA Legal Adviser Asia Legal Adviser Bloomberg s league tables are your one-stop shop for constant and timely access to the most comprehensive information available on capital markets representation. Just type for underwriter rankings or for legal adviser rankings and then click on the red 'Select a Market' button in the top left of your screen to view a complete range of rankings available for fixed income, equity, equity-linked and syndicated loans. Alternatively, press the green <Help> key on your BLOOMBERG PROFESSIONAL(R) for further instructions. VISIT {NI LEAG CRL <GO>} TO DOWNLOAD COPIES OF THE FULL RELEASE AND A FULL RANGE OF MARKET SPECIFIC LEAGUE TABLE RESULTS. Due to the dynamic nature of the Professional Service product, league table rankings may vary between this release and data found on the Bloomberg Professional service. For data submissions or queries, please contact: Americas EMEA Asia-Pac Contact Paul Bandong Dustin Jooste Vivian Lee Phone Fax legaladvisor@bloomberg.net legaladvisor@bloomberg.net legaladvisor@bloomberg.net For 24 hour global customer support call or press the HELP key twice on the BLOOMBERG PROFESSIONAL(R) service. Bloomberg Finance L.P. All rights reserved. 1

3 Total Volume in USD (Billions) Total Volume USD (Billions) Total Volume in USD (Billions) Total Volume in USD (Billions) Bloomberg Global Equity, Equity Linked & Rights Quarterly Volume Notable Highlights Global Equity, Equity Linked & Rights Review Globally, volume increased and issuance decreased compared with last year by 4.65% and 12.46%, respectively, to $ bln and 3,126 offerings. US is the only region to report an increase in volume this year to $ bln compared with $ bln raised last year, and an increase in issuance by 119 offerings to 796 deals. In terms of fourth quarter activity, US is the only region which saw a fall in volume in the last quarter of the year. $350 1,600 $100 US Equity & Equity Linked Quarterly Volume 300 $300 Volume Deal Count 1,400 $90 $80 Volume Deal Count 250 $250 $200 $150 $100 $50 1,200 1, Deal Count $70 $60 $50 $40 $30 $20 $ Deal Count $ EMEA Equity, Equity Linked & Rights Quarterly Volume $120 $100 $ Volume Deal Count $0 $150 $125 $ APAC Equity, Equity Linked & Rights Quarterly Volume Volume Deal Count $ Deal Count $ Deal Count $ $ $20 50 $ $ Bloomberg Finance L.P. All rights reserved $ * All YTD numbers as of September 28 th,

4 Global Bond Quarterly Volume Notable Highlights Global Fixed Income Review Corporate bond issuance volume increased 36% during the fourth quarter of compared to the fourth quarter of, with all regions experiencing individual increases. US Corporate bonds led the way with a 70% increase in issuance year over year for the fourth quarter. Asia-Pac and EMEA regions saw 15% and 9% increases respectively. The total number of deals closed decreased 5.8% for the same time period. US Corporate bond deals decreased 22%, a stark contrast to the increase seen in issuance volume. Global Bond and Asia-Pac deals closed increased 22% and 12% respectively. US Corporate Bond Quarterly Volume $450 $400 $350 Volume Deal Count $500 $450 $400 Volume Deal Count 3,000 2,500 Volume USD (Billions) $300 $250 $200 $ Issuance Volume in USD (Billions) $350 $300 $250 $200 $150 2,000 1,500 1,000 Issuance $100 $50 50 $100 $ $ $ EMEA Corporate Quarterly Volume APAC Corporate Bond Quarterly Volume $900 $800 Volume Deal Count $350 $300 Volume Deal Count $ $ $ Volume in USD (Billions) $500 $400 $ Issuance Volume USD (Billions) $200 $150 $ Issaucne $ $ $ $ Bloomberg Finance L.P. All rights reserved $ * All YTD numbers as of 01/02/2013 0

5 Global Syndicated Loan Markets Review Global Syndicated Loans Quarterly Volume Americas Syndicated Loans Quarterly Volume $1400 2,500 $700 1,400 $1200 $1000 Volume Deal Count 2,000 $600 $500 Volume Deal Count 1,200 1,000 Volume in USD (Billions) $800 $600 1,500 1,000 Issuance Volume in USD (Billions) $400 $ Issuance $400 $ $200 $ $ EMEA Syndicated Loans Quarterly Volume 0 $ APAC Syndicated Loans Quarterly Volume 0 Volume in USD (Billions) $600 $500 $400 $300 $200 $100 Volume Deal Count Issuance Volume in USD (Billions) $250 $200 $150 $100 $50 Volume Deal Count Issuance 100 $ $ UNDW<GO> NI LEAG CRL<GO> 2013 Bloomberg Finance L.P. All rights reserved.

6 Global Eqty/Eql/Rights Issuer Advisers VOLUME USD (Mln) CHG (%) Sullivan & Cromwell , Fenwick & West LLP , Skadden Arps Slate Meagher & Flom , Linklaters LLP , Clifford Chance LLP , Latham & Watkins LLP , (0.3) Vinson & Elkins LLP , Davis Polk & Wardwell , (0.6) Simpson Thacher & Bartlett , (4.3) Gibson Dunn & Crutcher , Bracewell & Giuliani , Cleary Gottlieb Steen & Hamilton , Freshfields Bruckhaus Deringer , (2.1) Osler Hoskin & Harcourt LLP , Venable LLP , King & Wood Mallesons , (0.2) Cooley LLP , Wilson Sonsini Goodrich & Rosati , (0.2) Baker Botts LLP , Nagashima Ohno & Tsunematsu , TOTAL 100% 402,505 1, , % Includes all eligible global equity, equity-linked & rights offering. Volume in USD millions. Venable LLP Latham & Watkins LLP Skadden Arps Slate Meagher & Flom Vinson & Elkins LLP Cooley LLP King & Wood Mallesons Conyers Dill & Pearman Clifford Chance LLP Simpson Thacher & Bartlett Burnet Duckworth & Palmer Baker & McKenzie Stikeman Elliott Wilson Sonsini Goodrich & Rosati Goodwin Procter LLP Norton Rose LLP Cassels Brock & Blackwell LLP Hunton & Williams Appleby Osler Hoskin & Harcourt LLP Grandall Legal Group TOTAL 100% 1,781 4

7 Global Eqty/Eql/Rights Manager Advisers VOLUME USD (Mln) CHG (%) Cleary Gottlieb Steen & Hamilton , Simpson Thacher & Bartlett , Davis Polk & Wardwell , (1.6) Latham & Watkins LLP , Shearman & Sterling LLP , Linklaters LLP , (3.1) Fried Frank Harris Shriver & Jacobson , Andrews Kurth LLP , Sidley Austin LLP , Sullivan & Cromwell , Skadden Arps Slate Meagher & Flom , (0.2) Freshfields Bruckhaus Deringer , Torys , Clifford Chance LLP , (4.2) Cahill Gordon & Reindel , (0.6) Baker Botts LLP , (0.6) Morrison & Foerster LLP , Hunton & Williams , (0.1) Cravath Swaine & Moore , (2.5) Allen & Overy LLP , (0.5) TOTAL 100% 387,418 1, , % Includes all eligible global equity, equity-linked & rights offering. Volume in USD millions. Davis Polk & Wardwell Latham & Watkins LLP Skadden Arps Slate Meagher & Flom Torys Miller Thomson LLP Clifford Chance LLP Fried Frank Harris Shriver & Jacobson Goodwin Procter LLP Sidley Austin LLP Simpson Thacher & Bartlett Stikeman Elliott Cleary Gottlieb Steen & Hamilton Blake Cassels & Graydon LLP Baker Botts LLP Cravath Swaine & Moore Linklaters LLP Sullivan & Cromwell Cahill Gordon & Reindel Allen & Overy LLP Shearman & Sterling LLP TOTAL 100% 1,477 5

8 Global Equity IPO Issuer Advisers VOLUME USD (Mln) CHG (%) Fenwick & West LLP , Sullivan & Cromwell , Nagashima Ohno & Tsunematsu , King & Wood Mallesons , Skadden Arps Slate Meagher & Flom , Vinson & Elkins LLP , Latham & Watkins LLP , Davis Polk & Wardwell , (1.9) Baker Botts LLP , Simpson Thacher & Bartlett , (0.9) Freshfields Bruckhaus Deringer , (3.6) Clifford Chance LLP , (0.9) Cleary Gottlieb Steen & Hamilton , Slaughter and May , Grandall Legal Group , (1.8) Wilson Sonsini Goodrich & Rosati , Jia Yuan Law Firm , (0.1) Albar & Partners , Azmi & Associates , Beijing Zhonglun Law Firm , TOTAL 100% 101, , % Includes all eligible equity initial public offerings. Excludes China A shares. Volume in USD millions. Conyers Dill & Pearman King & Wood Mallesons Grandall Legal Group Jingtian Gongcheng Law Firm Latham & Watkins LLP Beijing Zhonglun Law Firm Appleby Steinepreis Paganin Skadden Arps Slate Meagher & Flom Commerce & Finance Law Offices Clark Wilson LLP Vinson & Elkins LLP Wilson Sonsini Goodrich & Rosati Maples & Calder Beijing Deheng Law Dacheng Law Office Jia Yuan Law Firm Grandfield Law Offices Venable LLP Beijing Grandway Law Offices TOTAL 100% 621 6

9 Global Equity IPO Manager Advisers VOLUME USD (Mln) CHG (%) Simpson Thacher & Bartlett , Latham & Watkins LLP , Linklaters LLP , (5.0) Anderson Mori & Tomotsune , Davis Polk & Wardwell , Cleary Gottlieb Steen & Hamilton , Skadden Arps Slate Meagher & Flom , Sullivan & Cromwell , Baker Botts LLP , Freshfields Bruckhaus Deringer , (0.8) Adnan Sundra & Low , Vinson & Elkins LLP , Allen & Overy LLP , (3.8) Shearman & Sterling LLP , (0.2) Jun He Law Offices , (1.5) Andrews Kurth LLP , (2.6) Sidley Austin LLP , Slaughter and May , Cahill Gordon & Reindel , (4.4) Cravath Swaine & Moore , (0.3) TOTAL 100% 88, , % Includes all eligible equity initial public offerings. Excludes China A shares. Volume in USD millions. Miller Thomson LLP Davis Polk & Wardwell Latham & Watkins LLP McCullough O'Connor Irwin Skadden Arps Slate Meagher & Flom Simpson Thacher & Bartlett Anfield Sujir Kennedy & Durno Cooley LLP Linklaters LLP Cleary Gottlieb Steen & Hamilton Baker Botts LLP Allen & Overy LLP Sidley Austin LLP Jingtian Gongcheng Law Firm Paul Hastings LLP Goodwin Procter LLP Shin & Kim Getz Prince Wells Davis LLP Wilson Sonsini Goodrich & Rosati TOTAL 100% 394 7

10 Global Bonds Issuer Advisers VOLUME USD (Mln) CHG (%) Sullivan & Cromwell , (6.0) Davis Polk & Wardwell , Cravath Swaine & Moore , (3.3) Cleary Gottlieb Steen & Hamilton , (0.6) Skadden Arps Slate Meagher & Flom , (0.9) White & Case LLP , (1.1) Gibson Dunn & Crutcher , (0.8) Shearman & Sterling LLP , (0.3) Borden Ladner Gervais LLP , (0.7) Simpson Thacher & Bartlett , (1.6) Wachtell Lipton Rosen & Katz , Sidley Austin LLP , Arnold & Porter , (0.1) Jones Day , Kirkland & Ellis , Linklaters LLP , Fried Frank Harris Shriver & Jacobson , Hogan Lovells , Vinson & Elkins LLP , Milbank Tweed Hadley & McCloy LLP , TOTAL 100% 631, , % Includes all eligible bonds where Market of Issue is Global. Volume in USD millions. Davis Polk & Wardwell Sullivan & Cromwell Cleary Gottlieb Steen & Hamilton Skadden Arps Slate Meagher & Flom Cravath Swaine & Moore Shearman & Sterling LLP Gibson Dunn & Crutcher Jones Day Sidley Austin LLP White & Case LLP Simpson Thacher & Bartlett Vinson & Elkins LLP Wachtell Lipton Rosen & Katz Kirkland & Ellis Linklaters LLP Borden Ladner Gervais LLP Fried Frank Harris Shriver & Jacobson Hogan Lovells Arnold & Porter Baker Botts LLP TOTAL 100% 697 8

11 Global Bonds Manager Advisers VOLUME USD (Mln) CHG (%) Davis Polk & Wardwell , Sullivan & Cromwell , (4.0) Cleary Gottlieb Steen & Hamilton , (0.6) Simpson Thacher & Bartlett , (0.6) Sidley Austin LLP , Shearman & Sterling LLP , Davies Ward Phillips & Vineberg LLP , (1.2) Cravath Swaine & Moore , (4.0) Cahill Gordon & Reindel , O'Melveny & Myers LLP , Hengeler Mueller , (2.5) Allen & Overy LLP , (1.1) Linklaters LLP , Latham & Watkins LLP , Gibson Dunn & Crutcher , Morrison & Foerster LLP , Mayer Brown LLP , (0.7) Weil Gotshal & Manges LLP , Baker Botts LLP , Fried Frank Harris Shriver & Jacobson , TOTAL 100% 687, , % Includes all eligible bonds where Market of Issue is Global. Volume in USD millions. Davis Polk & Wardwell Simpson Thacher & Bartlett Sullivan & Cromwell Shearman & Sterling LLP Cleary Gottlieb Steen & Hamilton Sidley Austin LLP Cahill Gordon & Reindel Linklaters LLP Cravath Swaine & Moore O'Melveny & Myers LLP Mayer Brown LLP Latham & Watkins LLP Baker Botts LLP Davies Ward Phillips & Vineberg LLP Weil Gotshal & Manges LLP Allen & Overy LLP Gibson Dunn & Crutcher Fried Frank Harris Shriver & Jacobson Hengeler Mueller Pillsbury Winthrop Shaw Pittman LLP TOTAL 100% 771 9

12 U.S. Equity Offerings Issuer Advisers VOLUME USD (Mln) CHG (%) Sullivan & Cromwell , Fenwick & West LLP , Skadden Arps Slate Meagher & Flom , Vinson & Elkins LLP , (1.6) Gibson Dunn & Crutcher , Bracewell & Giuliani , Latham & Watkins LLP , (1.0) Simpson Thacher & Bartlett , (8.2) Venable LLP , Baker Botts LLP , Goodwin Procter LLP , Shumaker Loop & Kendrick LLP , Cooley LLP , Davis Polk & Wardwell , (1.0) Ropes & Gray , Wilson Sonsini Goodrich & Rosati , (1.0) Andrews Kurth LLP , (0.8) Hunton & Williams , Baker Donelson Bearman & Caldwell , Faegre Baker Daniels LLP , TOTAL 100% 220, , % Includes all eligible equity offerings from U.S. issuers. Volume in USD millions. Venable LLP Vinson & Elkins LLP Latham & Watkins LLP Cooley LLP Skadden Arps Slate Meagher & Flom Wilson Sonsini Goodrich & Rosati Goodwin Procter LLP Hunton & Williams Sutherland Asbill & Brennan LLP Simpson Thacher & Bartlett Wilmer Cutler Pickering Hale & Dorr LLP Gibson Dunn & Crutcher Ropes & Gray Kirkland & Ellis Hogan Lovells Foley & Lardner LLP Fenwick & West LLP Sullivan & Cromwell Proskauer Rose LLP DLA Piper LLP TOTAL 100%

13 U.S. Equity Offerings Manager Advisers VOLUME USD (Mln) CHG (%) Cleary Gottlieb Steen & Hamilton , Simpson Thacher & Bartlett , Latham & Watkins LLP , Davis Polk & Wardwell , (1.2) Andrews Kurth LLP , Sidley Austin LLP , Fried Frank Harris Shriver & Jacobson , (2.3) Skadden Arps Slate Meagher & Flom , Baker Botts LLP , (2.3) Cahill Gordon & Reindel , (2.5) Morrison & Foerster LLP , Hunton & Williams , (1.1) Shearman & Sterling LLP , (1.2) Sullivan & Cromwell , (1.4) Vinson & Elkins LLP , (0.4) Cravath Swaine & Moore , (5.7) Calfee Halter & Griswold LLP , O'Melveny & Myers LLP , Goodwin Procter LLP , Clifford Chance LLP , (0.3) TOTAL 100% 223, , % Includes all eligible equity offerings from U.S. issuers. Volume in USD millions. Latham & Watkins LLP Davis Polk & Wardwell Skadden Arps Slate Meagher & Flom Goodwin Procter LLP Sidley Austin LLP Fried Frank Harris Shriver & Jacobson Baker Botts LLP Cravath Swaine & Moore Andrews Kurth LLP Cahill Gordon & Reindel Hunton & Williams Sullivan & Cromwell Vinson & Elkins LLP Simpson Thacher & Bartlett Cooley LLP Cleary Gottlieb Steen & Hamilton Wilson Sonsini Goodrich & Rosati Clifford Chance LLP Shearman & Sterling LLP Ropes & Gray TOTAL 100%

14 U.S. Equity Offerings Issuer Advisers (IPO) VOLUME USD (Mln) CHG (%) Fenwick & West LLP , Vinson & Elkins LLP , Latham & Watkins LLP , (0.8) Skadden Arps Slate Meagher & Flom , Baker Botts LLP , Wilson Sonsini Goodrich & Rosati , (1.7) Simpson Thacher & Bartlett , (7.7) Venable LLP , Richards Layton & Finger (1.3) Wachtell Lipton Rosen & Katz Wilmer Cutler Pickering Hale & Dorr LLP Kirkland & Ellis Stroock & Stroock & Lavan LLP Weil Gotshal & Manges LLP (3.3) Cooley LLP (2.5) O'Melveny & Myers LLP (0.9) Fried Frank Harris Shriver & Jacobson Goodwin Procter LLP Orrick Herrington & Sutcliffe LLP Pillsbury Winthrop Shaw Pittman LLP TOTAL 100% 42, , % Includes all eligible equity initial public offerings from U.S. issuers. Volume in USD millions. Wilson Sonsini Goodrich & Rosati Latham & Watkins LLP Vinson & Elkins LLP Venable LLP Fenwick & West LLP Skadden Arps Slate Meagher & Flom Wilmer Cutler Pickering Hale & Dorr LLP Kirkland & Ellis Cooley LLP Richards Layton & Finger Goodwin Procter LLP Pillsbury Winthrop Shaw Pittman LLP Baker Botts LLP Simpson Thacher & Bartlett Wachtell Lipton Rosen & Katz Orrick Herrington & Sutcliffe LLP Dechert Greenberg Traurig LLP Sutherland Asbill & Brennan LLP Gibson Dunn & Crutcher TOTAL 100%

15 U.S. Equity Offerings Manager Advisers (IPO) VOLUME USD (Mln) CHG (%) Simpson Thacher & Bartlett , Latham & Watkins LLP , Davis Polk & Wardwell , (4.0) Skadden Arps Slate Meagher & Flom , Baker Botts LLP , (0.9) Vinson & Elkins LLP , (0.3) Andrews Kurth LLP , (9.3) Cahill Gordon & Reindel , (14.0) Sidley Austin LLP , Cravath Swaine & Moore , (2.1) Gunderson Dettmer Stough Villeneuve Cooley LLP Cleary Gottlieb Steen & Hamilton Wilson Sonsini Goodrich & Rosati (0.7) Sullivan & Cromwell Goodwin Procter LLP Ropes & Gray (2.6) Hogan Lovells (1.8) Hunton & Williams White & Case LLP TOTAL 100% 41, , % Includes all eligible equity initial public offerings from U.S. issuers. Volume in USD millions. Davis Polk & Wardwell Latham & Watkins LLP Skadden Arps Slate Meagher & Flom Cooley LLP Baker Botts LLP Goodwin Procter LLP Wilson Sonsini Goodrich & Rosati Simpson Thacher & Bartlett Vinson & Elkins LLP Sidley Austin LLP Cravath Swaine & Moore Andrews Kurth LLP Cahill Gordon & Reindel Sullivan & Cromwell Ropes & Gray White & Case LLP Gunderson Dettmer Stough Villeneuve Cleary Gottlieb Steen & Hamilton Hogan Lovells Hunton & Williams TOTAL 100%

16 U.S. Equity Linked Issuer Advisers VOLUME USD (Mln) CHG (%) Hogan Lovells , Wilson Sonsini Goodrich & Rosati , Davis Polk & Wardwell , Cooley LLP , Wachtell Lipton Rosen & Katz , Sullivan & Cromwell , (4.8) Latham & Watkins LLP K&L Gates LLP Simpson Thacher & Bartlett (2.5) Skadden Arps Slate Meagher & Flom (12.8) Wyrick Robbins Yates & Ponton LLP Ropes & Gray Kane Kessler PC Proskauer Rose LLP Jones Day (6.4) Pepper Hamilton LLP O'Melveny & Myers LLP Gibson Dunn & Crutcher Vinson & Elkins LLP DLA Piper LLP (2.1) TOTAL 100% 18, , % Includes all eligible equity-linked offerings from U.S. issuers. Volume in USD millions. Cooley LLP Wilson Sonsini Goodrich & Rosati Latham & Watkins LLP Simpson Thacher & Bartlett Skadden Arps Slate Meagher & Flom Hogan Lovells Proskauer Rose LLP O'Melveny & Myers LLP Venable LLP Goodmans LLP Davis Polk & Wardwell K&L Gates LLP Ropes & Gray Pepper Hamilton LLP Gibson Dunn & Crutcher Vinson & Elkins LLP DLA Piper LLP Goodwin Procter LLP Wachtell Lipton Rosen & Katz Sullivan & Cromwell TOTAL 100% 67 14

17 U.S. Equity Linked Manager Advisers VOLUME USD (Mln) CHG (%) Davis Polk & Wardwell , (4.4) Latham & Watkins LLP , Simpson Thacher & Bartlett , (2.3) O'Melveny & Myers LLP , Sullivan & Cromwell , Shearman & Sterling LLP , Fried Frank Harris Shriver & Jacobson , Cleary Gottlieb Steen & Hamilton , (4.5) Cahill Gordon & Reindel Cravath Swaine & Moore (5.4) Vinson & Elkins LLP Morgan Lewis & Bockius Morrison & Foerster LLP Troutman Sanders LLP Baker Botts LLP Blake Cassels & Graydon LLP Paul Weiss Rifkind Wharton & Garrison Osler Hoskin & Harcourt LLP Sidley Austin LLP (3.0) Skadden Arps Slate Meagher & Flom (0.9) TOTAL 100% 18, , % Includes all eligible equity-linked offerings from U.S. issuers. Volume in USD millions. Davis Polk & Wardwell Latham & Watkins LLP Simpson Thacher & Bartlett Fried Frank Harris Shriver & Jacobson Cahill Gordon & Reindel Cleary Gottlieb Steen & Hamilton Sullivan & Cromwell Cravath Swaine & Moore Vinson & Elkins LLP Morrison & Foerster LLP Blake Cassels & Graydon LLP Paul Weiss Rifkind Wharton & Garrison O'Melveny & Myers LLP Shearman & Sterling LLP Morgan Lewis & Bockius Troutman Sanders LLP Baker Botts LLP Osler Hoskin & Harcourt LLP Sidley Austin LLP Skadden Arps Slate Meagher & Flom TOTAL 100% 65 15

18 U.S. Corporates Issuer Advisers VOLUME USD (Mln) CHG (%) Sullivan & Cromwell , (2.1) Davis Polk & Wardwell , (1.9) Cleary Gottlieb Steen & Hamilton , (0.4) Simpson Thacher & Bartlett , (0.7) Skadden Arps Slate Meagher & Flom , (1.2) Gibson Dunn & Crutcher , (0.3) Latham & Watkins LLP , (1.1) Clifford Chance LLP , Kirkland & Ellis , Shearman & Sterling LLP , Hogan Lovells , Sidley Austin LLP , Debevoise & Plimpton LLP , Wachtell Lipton Rosen & Katz , Linklaters LLP , Allen & Overy LLP , (0.2) Paul Weiss Rifkind Wharton & Garrison , Cravath Swaine & Moore , Weil Gotshal & Manges LLP , Vinson & Elkins LLP , (0.2) TOTAL 100% 1,239,360 2, , % Includes U.S. Domestic, Yankee, Rule 144a, MTN, Bank Note, Deposit Note & CDs. Excludes Agencies, Sovereigns and Supranationals. Volume in USD millions. Davis Polk & Wardwell Sullivan & Cromwell Sidley Austin LLP Clifford Chance LLP Linklaters LLP Cleary Gottlieb Steen & Hamilton Skadden Arps Slate Meagher & Flom Simpson Thacher & Bartlett Latham & Watkins LLP Shearman & Sterling LLP Gibson Dunn & Crutcher Kirkland & Ellis Paul Weiss Rifkind Wharton & Garrison Vinson & Elkins LLP Debevoise & Plimpton LLP Jones Day Hogan Lovells Cravath Swaine & Moore Allen & Overy LLP Weil Gotshal & Manges LLP TOTAL 100% 2,668 16

19 U.S. Corporates Manager Advisers VOLUME USD (Mln) CHG (%) Davis Polk & Wardwell , (0.2) Cahill Gordon & Reindel , Shearman & Sterling LLP , (0.9) Simpson Thacher & Bartlett , Sidley Austin LLP , (0.8) Cleary Gottlieb Steen & Hamilton , (0.5) Cravath Swaine & Moore , (3.7) Sullivan & Cromwell , Latham & Watkins LLP , Linklaters LLP , Allen & Overy LLP , Clifford Chance LLP , Skadden Arps Slate Meagher & Flom , O'Melveny & Myers LLP , Milbank Tweed Hadley & McCloy LLP , (0.4) Baker Botts LLP , Hunton & Williams , Gibson Dunn & Crutcher , Mayer Brown LLP , (1.3) Hengeler Mueller , (0.3) TOTAL 100% 1,312,350 2,477 1,000,130100% Includes U.S. Domestic, Yankee, Rule 144a, MTN, Bank Note, Deposit Note & CDs. Excludes Agencies, Sovereigns and Supranationals. Volume in USD millions. Davis Polk & Wardwell Sidley Austin LLP Cahill Gordon & Reindel Clifford Chance LLP Shearman & Sterling LLP Simpson Thacher & Bartlett Latham & Watkins LLP Cravath Swaine & Moore Cleary Gottlieb Steen & Hamilton Sullivan & Cromwell Skadden Arps Slate Meagher & Flom Allen & Overy LLP Linklaters LLP Hunton & Williams Milbank Tweed Hadley & McCloy LLP O'Melveny & Myers LLP Baker Botts LLP Pillsbury Winthrop Shaw Pittman LLP Mayer Brown LLP Fried Frank Harris Shriver & Jacobson TOTAL 100% 2,477 17

20 U.S. Investment Grade Issuer Advisers VOLUME USD (Mln) CHG (%) Sullivan & Cromwell , (2.7) Davis Polk & Wardwell , (0.9) Cleary Gottlieb Steen & Hamilton , (0.9) Skadden Arps Slate Meagher & Flom , (1.7) Gibson Dunn & Crutcher , Simpson Thacher & Bartlett , (1.3) Clifford Chance LLP , Sidley Austin LLP , Shearman & Sterling LLP , Hogan Lovells , Wachtell Lipton Rosen & Katz , Linklaters LLP , Allen & Overy LLP , (0.3) Latham & Watkins LLP , (1.6) Cravath Swaine & Moore , Mayer Brown LLP , Bracewell & Giuliani , Debevoise & Plimpton LLP , Weil Gotshal & Manges LLP , Jones Day , (0.3) TOTAL 100% 886,818 1, , % Includes U.S. issues with a rating of Baa3/BBB- and above. Includes split-rated issues. Excludes Agencies, Sovereigns and Supranationals. Volume in USD millions. Sullivan & Cromwell Davis Polk & Wardwell Sidley Austin LLP Clifford Chance LLP Linklaters LLP Cleary Gottlieb Steen & Hamilton Skadden Arps Slate Meagher & Flom Shearman & Sterling LLP Simpson Thacher & Bartlett Gibson Dunn & Crutcher Latham & Watkins LLP Hogan Lovells Cravath Swaine & Moore Wilmer Cutler Pickering Hale & Dorr LLP Debevoise & Plimpton LLP Allen & Overy LLP Jones Day Mayer Brown LLP Morgan Lewis & Bockius Wachtell Lipton Rosen & Katz TOTAL 100% 1,852 18

21 U.S. Investment Grade Manager Advisers VOLUME USD (Mln) CHG (%) Davis Polk & Wardwell , (0.3) Sidley Austin LLP , (0.7) Shearman & Sterling LLP , Simpson Thacher & Bartlett , Cleary Gottlieb Steen & Hamilton , (0.5) Sullivan & Cromwell , Cravath Swaine & Moore , (4.3) Linklaters LLP , Allen & Overy LLP , Clifford Chance LLP , O'Melveny & Myers LLP , Skadden Arps Slate Meagher & Flom , Cahill Gordon & Reindel , (0.1) Latham & Watkins LLP , (0.2) Hunton & Williams , Gibson Dunn & Crutcher , Hengeler Mueller , (0.5) Mayer Brown LLP , (1.6) Morrison & Foerster LLP , (0.8) Pillsbury Winthrop Shaw Pittman LLP , TOTAL 100% 968,824 1, , % Includes U.S. issues with a rating of Baa3/BBB- and above. Includes split-rated issues. Excludes Agencies, Sovereigns and Supranationals. Volume in USD millions. Davis Polk & Wardwell Sidley Austin LLP Clifford Chance LLP Shearman & Sterling LLP Simpson Thacher & Bartlett Cleary Gottlieb Steen & Hamilton Sullivan & Cromwell Cravath Swaine & Moore Allen & Overy LLP Linklaters LLP Skadden Arps Slate Meagher & Flom Hunton & Williams O'Melveny & Myers LLP Pillsbury Winthrop Shaw Pittman LLP Mayer Brown LLP Cahill Gordon & Reindel Latham & Watkins LLP Milbank Tweed Hadley & McCloy LLP Baker Botts LLP Gibson Dunn & Crutcher TOTAL 100% 1,715 19

22 U.S. High Yield Issuer Advisers VOLUME USD (Mln) CHG (%) Simpson Thacher & Bartlett , Kirkland & Ellis , (1.1) Sullivan & Cromwell , (3.6) Latham & Watkins LLP , Paul Weiss Rifkind Wharton & Garrison , Skadden Arps Slate Meagher & Flom , Debevoise & Plimpton LLP , Vinson & Elkins LLP , (0.8) Cleary Gottlieb Steen & Hamilton , Davis Polk & Wardwell , (4.4) Milbank Tweed Hadley & McCloy LLP , Jones Day , Gibson Dunn & Crutcher , (1.2) Weil Gotshal & Manges LLP , Shearman & Sterling LLP , Fried Frank Harris Shriver & Jacobson , Baker Botts LLP , Cravath Swaine & Moore , Allen & Overy LLP , Ropes & Gray , (0.8) TOTAL 100% 326, , % Includes U.S. issues with a rating of Ba1/BB+ and below. Excludes split-rated, Agency and Sovereign issues. Volume in USD millions. Simpson Thacher & Bartlett Latham & Watkins LLP Kirkland & Ellis Vinson & Elkins LLP Paul Weiss Rifkind Wharton & Garrison Skadden Arps Slate Meagher & Flom Sullivan & Cromwell Cleary Gottlieb Steen & Hamilton Debevoise & Plimpton LLP Gibson Dunn & Crutcher Davis Polk & Wardwell Shearman & Sterling LLP Jones Day Milbank Tweed Hadley & McCloy LLP Fried Frank Harris Shriver & Jacobson Weil Gotshal & Manges LLP Baker Botts LLP Ropes & Gray Clifford Chance LLP Allen & Overy LLP TOTAL 100%

23 U.S. High Yield Manager Advisers VOLUME USD (Mln) CHG (%) Cahill Gordon & Reindel , Latham & Watkins LLP , Shearman & Sterling LLP , (7.2) Cravath Swaine & Moore , (1.0) Davis Polk & Wardwell , Simpson Thacher & Bartlett , Skadden Arps Slate Meagher & Flom , (0.1) Baker Botts LLP , (0.1) Cleary Gottlieb Steen & Hamilton , Vinson & Elkins LLP , Andrews Kurth LLP , Fried Frank Harris Shriver & Jacobson , White & Case LLP , (0.1) Milbank Tweed Hadley & McCloy LLP , Linklaters LLP , (0.9) Blake Cassels & Graydon LLP , Freshfields Bruckhaus Deringer , Weil Gotshal & Manges LLP , Paul Weiss Rifkind Wharton & Garrison , Paul Hastings LLP , TOTAL 100% 318, , % Includes U.S. issues with a rating of Ba1/BB+ and below. Excludes split-rated, Agency and Sovereign issues. Volume in USD millions. Cahill Gordon & Reindel Latham & Watkins LLP Simpson Thacher & Bartlett Shearman & Sterling LLP Davis Polk & Wardwell Cravath Swaine & Moore Skadden Arps Slate Meagher & Flom Baker Botts LLP Cleary Gottlieb Steen & Hamilton Vinson & Elkins LLP Milbank Tweed Hadley & McCloy LLP Fried Frank Harris Shriver & Jacobson Linklaters LLP White & Case LLP Blake Cassels & Graydon LLP Andrews Kurth LLP Weil Gotshal & Manges LLP Paul Hastings LLP Machado Meyer Sendacz e Opice Freshfields Bruckhaus Deringer TOTAL 100%

24 U.S. Preferred Issuer Advisers VOLUME USD (Mln) CHG (%) Squire Sanders & Dempsey LLP , Richards Layton & Finger , (4.3) Skadden Arps Slate Meagher & Flom , Hogan Lovells , (3.5) Reed Smith LLP , Sullivan & Cromwell , (5.0) Latham & Watkins LLP , Simpson Thacher & Bartlett , Cleary Gottlieb Steen & Hamilton , K&L Gates LLP , Gibson Dunn & Crutcher Sidley Austin LLP (3.9) Venable LLP (2.6) Jones Walker Waechter Poitevent Carrere (7.5) Morgan Lewis & Bockius Bryan Cave LLP Hunton & Williams (4.2) McCarthy Tetrault Arnold & Porter Allen & Overy LLP TOTAL 100% 38, , % Includes all eligible non-convertible preferred offerings denominated in USD. Volume in USD millions. Venable LLP Hogan Lovells Latham & Watkins LLP Squire Sanders & Dempsey LLP Skadden Arps Slate Meagher & Flom Sullivan & Cromwell Hunton & Williams Richards Layton & Finger Morgan Lewis & Bockius Sidley Austin LLP Conyers Dill & Pearman Sutherland Asbill & Brennan LLP Simpson Thacher & Bartlett Cleary Gottlieb Steen & Hamilton K&L Gates LLP Bryan Cave LLP Morrison & Foerster LLP Foley & Lardner LLP Proskauer Rose LLP Stroock & Stroock & Lavan LLP TOTAL 100%

25 U.S. Preferred Manager Advisers VOLUME USD (Mln) CHG (%) Cravath Swaine & Moore , Skadden Arps Slate Meagher & Flom , (0.4) O'Melveny & Myers LLP , Sidley Austin LLP , (0.5) Davis Polk & Wardwell , Sullivan & Cromwell , Simpson Thacher & Bartlett , Cleary Gottlieb Steen & Hamilton , Pillsbury Winthrop Shaw Pittman LLP , (6.6) Hunton & Williams , Fried Frank Harris Shriver & Jacobson , Gibson Dunn & Crutcher , Shearman & Sterling LLP , Morrison & Foerster LLP Latham & Watkins LLP Clifford Chance LLP Fraser Milner Casgrain LLP Covington & Burling Winston & Strawn Willkie Farr & Gallagher (2.4) TOTAL 100% 39, , % Includes all eligible non-convertible preferred offerings denominated in USD. Volume in USD millions. Sidley Austin LLP Skadden Arps Slate Meagher & Flom Simpson Thacher & Bartlett Hunton & Williams Fried Frank Harris Shriver & Jacobson Cravath Swaine & Moore Davis Polk & Wardwell Sullivan & Cromwell Cleary Gottlieb Steen & Hamilton Pillsbury Winthrop Shaw Pittman LLP Clifford Chance LLP DLA Piper LLP O'Melveny & Myers LLP Hogan Lovells Latham & Watkins LLP Gibson Dunn & Crutcher Fraser Milner Casgrain LLP Mayer Brown LLP Goodwin Procter LLP Jones Day TOTAL 100%

26 Canadian Equity Offerings Issuer Advisers VOLUME USD (Mln) CHG (%) Osler Hoskin & Harcourt LLP , Norton Rose LLP , Stikeman Elliott , Bennett Jones LLP , Burnet Duckworth & Palmer , (3.5) McCarthy Tetrault , Davies Ward Phillips & Vineberg LLP , Cassels Brock & Blackwell LLP , (0.9) Goodmans LLP Blake Cassels & Graydon LLP (3.3) McMillan LLP (0.6) Torys (1.4) Paul Weiss Rifkind Wharton & Garrison Fraser Milner Casgrain LLP (3.5) Aikins MacAulay & Thorvaldson LLP Davis LLP Burstall Winger LLP Dorsey & Whitney (0.5) AIRD & Berlis LLP Fasken Martineau DuMoulin LLP (0.8) TOTAL 100% 27, , % Includes all eligible common equity and income trust offerings from Canadian issuers. Volume in USD millions. Burnet Duckworth & Palmer Norton Rose LLP Stikeman Elliott Cassels Brock & Blackwell LLP Clark Wilson LLP Osler Hoskin & Harcourt LLP Blake Cassels & Graydon LLP Bennett Jones LLP McCarthy Tetrault McMillan LLP Fraser Milner Casgrain LLP Fasken Martineau DuMoulin LLP Goodmans LLP Gowling Lafleur Henderson Borden Ladner Gervais LLP Burstall Winger LLP Davies Ward Phillips & Vineberg LLP Davis LLP Heenan Blaikie Dumoulin Black LLP TOTAL 100%

27 Canadian Equity Offerings Manager Advisers VOLUME USD (Mln) CHG (%) Torys , Stikeman Elliott , Burnet Duckworth & Palmer , Blake Cassels & Graydon LLP , (0.8) Norton Rose LLP , Fraser Milner Casgrain LLP , Goodmans LLP , (1.4) Osler Hoskin & Harcourt LLP (1.7) McCarthy Tetrault (6.3) Lavery de Billy Cassels Brock & Blackwell LLP (2.0) Skadden Arps Slate Meagher & Flom (1.3) Gowling Lafleur Henderson (1.1) Fasken Martineau DuMoulin LLP (1.4) Borden Ladner Gervais LLP (0.1) Wildeboer Dellelce LLP Burstall Winger LLP (1.2) Davies Ward Phillips & Vineberg LLP Simpson Thacher & Bartlett Stewart McKelvey LLP (0.2) TOTAL 100% 27, , % Includes all eligible common equity and income trust offerings from Canadian issuers. Volume in USD millions. Miller Thomson LLP Torys Blake Cassels & Graydon LLP Stikeman Elliott Cassels Brock & Blackwell LLP Fraser Milner Casgrain LLP McCullough O'Connor Irwin McCarthy Tetrault Norton Rose LLP Goodmans LLP Borden Ladner Gervais LLP Burnet Duckworth & Palmer Anfield Sujir Kennedy & Durno Osler Hoskin & Harcourt LLP Gowling Lafleur Henderson Fasken Martineau DuMoulin LLP Davis LLP Wildeboer Dellelce LLP Burstall Winger LLP McMillan LLP TOTAL 100%

28 Canadian Equity Offerings Issuer Advisers (IPO) VOLUME USD (Mln) CHG (%) McCarthy Tetrault Stikeman Elliott Paul Weiss Rifkind Wharton & Garrison Goodmans LLP Freshfields Bruckhaus Deringer Osler Hoskin & Harcourt LLP (6.2) Bennett Jones LLP (25.9) Vinson & Elkins LLP Clark Wilson LLP Haynes & Boone LLP Blake Cassels & Graydon LLP (2.4) Davies Ward Phillips & Vineberg LLP Dumoulin Black LLP (1.2) Peterson Law Professional Corp Anfield Sujir Kennedy & Durno (0.4) Maitland & Co/Canada (0.3) Gowling Lafleur Henderson Miller Thomson LLP Salley Bowes Harwardt Thomas Rondeau Business Lawyers TOTAL 100% 2, , % Includes all eligible common equity and income trust initial public offerings from Canadian issuers. Volume in USD millions. Clark Wilson LLP Anfield Sujir Kennedy & Durno Maitland & Co/Canada Thomas Rondeau Business Lawyers Dumoulin Black LLP Gowling Lafleur Henderson McMillan LLP Stikeman Elliott Blake Cassels & Graydon LLP Salley Bowes Harwardt Boughton Law Corp Macdonald Tuskey Goodmans LLP Bennett Jones LLP Miller Thomson LLP Heighington Law Firm Fasken Martineau DuMoulin LLP Heenan Blaikie Burstall Winger LLP Garfinkle Biderman LLP TOTAL 100%

29 Canadian Equity Offerings Manager Advisers (IPO) VOLUME USD (Mln) CHG (%) Torys Stikeman Elliott Blake Cassels & Graydon LLP Norton Rose LLP Kirkland & Ellis Skadden Arps Slate Meagher & Flom Davies Ward Phillips & Vineberg LLP Miller Thomson LLP (1.7) McCarthy Tetrault (27.1) McMillan LLP McCullough O'Connor Irwin (0.3) Dorsey & Whitney Wildeboer Dellelce LLP (0.7) Borden Ladner Gervais LLP (1.1) Anfield Sujir Kennedy & Durno (0.3) Getz Prince Wells (0.2) Burstall Winger LLP (0.1) Davis LLP (0.1) Langlois Kronstrom Desjardins Colby Monet Delage Demers & Crevier LLP TOTAL 100% 2, , % Includes all eligible common equity and income trust initial public offerings from Canadian issuers. Volume in USD millions. Miller Thomson LLP McCullough O'Connor Irwin Anfield Sujir Kennedy & Durno Getz Prince Wells Davis LLP McMillan LLP Torys Norton Rose LLP Fraser Milner Casgrain LLP Langlois Kronstrom Desjardins Stikeman Elliott Blake Cassels & Graydon LLP Burstall Winger LLP Heenan Blaikie Maynard E. Brown Barrister & Solicitor Parlee McLaws LLP Kirkland & Ellis Skadden Arps Slate Meagher & Flom Davies Ward Phillips & Vineberg LLP McCarthy Tetrault TOTAL 100%

30 Canadian Eqty/Eql Issuer Advisers VOLUME USD (Mln) CHG (%) Osler Hoskin & Harcourt LLP , Norton Rose LLP , Stikeman Elliott , Bennett Jones LLP , Burnet Duckworth & Palmer , (3.7) McCarthy Tetrault , Davies Ward Phillips & Vineberg LLP , Torys , Cassels Brock & Blackwell LLP , (0.2) Goodmans LLP , Blake Cassels & Graydon LLP (4.0) McMillan LLP (0.5) Paul Weiss Rifkind Wharton & Garrison Aikins MacAulay & Thorvaldson LLP Fraser Milner Casgrain LLP (3.2) Davis LLP Burstall Winger LLP (0.1) Borden Ladner Gervais LLP (3.8) Dorsey & Whitney (0.4) AIRD & Berlis LLP TOTAL 100% 30, , % Includes all eligible equity & equity-linked offerings from Canadian issuers. Volume in USD millions. Burnet Duckworth & Palmer Stikeman Elliott Cassels Brock & Blackwell LLP Norton Rose LLP Osler Hoskin & Harcourt LLP Blake Cassels & Graydon LLP Clark Wilson LLP Bennett Jones LLP McCarthy Tetrault Goodmans LLP McMillan LLP Fraser Milner Casgrain LLP Fasken Martineau DuMoulin LLP Borden Ladner Gervais LLP Gowling Lafleur Henderson Aikins MacAulay & Thorvaldson LLP Burstall Winger LLP Davies Ward Phillips & Vineberg LLP Torys Davis LLP TOTAL 100%