Global and regional M&A: H Including league tables of legal advisors

Global and regional M&A: Including of legal advisors Global Europe US Asia-Pacific Japan Africa & Middle East League tables Criteria

Regional M&A comparison $721.5bn 42.4% $449.8bn 26.4% $ $14.3bn 0.8% $408.4bn 24.0% $18.9bn 1.1% 9.3 $bn * The % value on the map indicates market share in global M&A Global M&A $1.70tn, +11.6% vs. Total $1.70tn 11.6 % Cross-border $635.1bn -9.2% Energy, Mining & Utilities $307.1bn 27.7% US $721.5bn, +20.7% vs. Inbound $144.1bn 1.4% Outbound $98.5bn -32.8% Pharma, $120.7bn 15.7% Medical & Biotech Africa & Middle East $18.9bn, -29.4% vs. Inbound $9.8bn 26.0% Outbound $20.9bn 47.0% Energy, Mining & Utilities $8.1bn 84.5% Europe $449.8bn, -8.1% vs. Inbound $160.7bn 1.1% Outbound $73.2bn -42.7% Energy, Mining & Utilities $104.6bn 127.4% Japan $14.3bn, -15.8% vs. Inbound $1.6bn 52.8% Outbound $54.1bn 68.3% Real Estate $4.5bn 797.0% Asia-Pacific (excl. Japan) $408.4bn, +42.2% vs. Inbound $45.6bn -5.1% Outbound $62.2bn 45.7% Energy, Mining & Utilities $69.9bn 78.6% Global and regional M&A: 2

Global Confident management teams and shareholders in continue to rally M&A totals. The value of M&A announcements during increased 11.6% compared to the same period last year with US$ 1.70tn-worth of deals versus US$ 1.52tn this time last year, marking the highest half-year period since 2007 following Q2 s third consecutive quarterly increase. Shareholders are not only encouraging, they are expecting companies to use bold M&A for growth in. The mega-deals (>US$ 10bn) phenomenon continued at an even greater pace in with 28 deals amounting to US$ 678.1bn, the highest value and deal count for any period on Mergermarket record, and a giant 87.2% leap in value with twelve more announcements compared to. A digitised world results in multiple industries needing to acquire companies that will provide new technologies, or those able to help build them so they can advance. Telecommunications, Industrial & Chemicals and Consumer firms are hot on the tail of Technology targets this year. As a result, Technology M&A is well on its way to reaching the highest annual value on record, with deals reaching US$ 198.3bn so far in, just 10.7% from s record total (US$ 222.1bn). US, Asia-Pacific and Europe are taking different paths for growth when it comes to accessing global opportunities. Total cross-border M&A between different countries slowed during compared to last year, down 9.2% from with deals valued at US$ 635.1bn versus US$ 699.1bn. US firms turned their attention to domestic activity and European firms focused on cross-border M&A mainly within European borders. It was only Asian firms that showed a keen interest to gain a presence in other regions, mostly targeting European companies (see graphic). Quarterly M&A activity Q1 Q2 Q3 Q4 of deals (US$bn) : $1.70tn 2007 2008 800.1 592.7 678.0 1,277.9 684.0 458.5 851.2 734.5 Total 3,663.8 Total 2,413.1 $1.70tn Second highest on record, third highest half-year on record 2009 2010 419.6 459.9 396.0 432.1 327.4 569.5 491.6 710.5 Total 1,712.6 Total 2,094.1 Q2 vs. Q1 19.9% Fourth highest valued quarter on record 2011 613.5 584.7 598.5 477.0 Total 2,273.6 Average daily value spent $9.4bn Average daily M&A value up from $8.4bn in 2012 2013 463.4 447.3 565.1 558.7 522.7 642.0 755.1 568.4 Total 2,306.4 Total 2,216.4 Cross-border activity 565.6 773.9 958.9 927.8 842.3 Total 1,701.7 849.5 Total 3,216.3 Cross-border share in global M&A 37.3% Share in global M&A value down from 45.9% in Sector breakdown in vs Energy, Mining & Utilities Technology Consumer Pharma, Medical & Biotech Telecommunications Industrials & Chemicals Financial Services Other $240.4bn $307.1bn 18.0% $120.5bn $198.3bn $141.8bn $197.8bn $205.6bn $187.5bn $157.9bn $176.1bn $154.6bn $145.5bn $114.1bn $117.8bn $389.6bn $371.7bn 7.9% 7.5% 6.9% 9.3% 11.6% 13.5% 11.0% 10.4% 10.3% 10.1% 8.6% 11.7% 15.8% 25.6% 21.8% Domestic activity Asia investing into Europe Miscellaneous Cash & Equity consideration Private equity buyouts Private equity exits 29.2% 130.1% +10 71.3% +38-25.0% -34.8% s valued at $1,066.6bn vs. $825.4bn in Second highest half-year on record, up from with 127 deals worth $48.2bn Up to 361 deals worth $502.4bn from, a record half-year value $141.9bn down from $189.1bn in, with 14 deals >$2bn versus 17 Down from to $174.2bn, with no deals above $10bn versus three * % indicates market share Global and regional M&A: 3

Global Top deals value (US$bn) Ann. date Bidder company Bidder country Target company Target country Target sector 81.2 8-Apr Royal Dutch Shell Plc Netherlands BG Group Plc UK 77.8 26-May Charter Communications Inc USA Time Warner Cable Inc USA 54.5 25-Mar HJ Heinz Company USA Kraft Foods Group Inc USA 40.8 9-Jan Cheung Kong (Holdings) Limited Hong Kong Hutchison Whampoa Limited (50.03% Stake) Hong Kong 35.0 24-Apr Mylan NV UK Perrigo Company plc Ireland (Republic) Sector key Energy Telco Consumer Pharma League table by value Rank Company name Regional ranking comparison % Europe US Asia-Pac Japan 1 1 349,407 119 360,209-3.0% 10 1 6 5 18 2 9 Latham & Watkins 281,304 130 157,139 79.0% 13 2 27 79 21 3 3 Sullivan & Cromwell 279,844 65 284,196-1.5% 18 3 53 4-4 2 Freshfields Bruckhaus Deringer 271,718 82 316,729-14.2% 1 33 1 2 1 5 8 Davis Polk & Wardwell 252,480 62 163,681 54.3% 15 5 19 59 124 6 40 Cravath, Swaine & Moore 251,390 42 49,931 403.5% 2 10 75 62 6 7 13 Kirkland & Ellis 232,776 142 123,727 88.1% 43 4 20 44 62 8 12 Wachtell, Lipton, Rosen & Katz 221,373 48 126,214 75.4% 12 8 96 - - 9 7 White & Case 197,136 113 206,191-4.4% 17 6 52 33 9 10 28 Fried Frank Harris Shriver & Jacobson 181,978 39 70,598 157.8% 26 7 - - - 11 10 Linklaters 159,187 97 148,549 7.2% 11 45 2 18 4 12 29 Allen & Overy 146,875 113 66,846 119.7% 3 46 32 39 3 13 14 Paul Weiss Rifkind Wharton & Garrison 138,312 51 123,288 12.2% 40 9 168 60 52 14 19 Slaughter and May 135,711 35 97,781 38.8% 4 40 14-15 15 5 Simpson Thacher & Bartlett 130,724 46 273,013-52.1% 20 11 44 6 43 16 47 King & Wood Mallesons 114,521 78 44,789 155.7% 7 88 10-64 17 4 Cleary Gottlieb Steen & Hamilton 109,792 45 279,418-60.7% 23 15 15 19 25 18 165 De Brauw Blackstone Westbroek 107,797 29 5,879 1,733.6% 5 41 49 - - 19 61 Gibson Dunn & Crutcher 101,447 46 26,759 279.1% 41 12 85 37-20 78 Ashurst 100,586 48 19,984 403.3% 8 114 18 9 36 Africa & Middle East Global and regional M&A: 4

Europe Europe s rebound in has slowed in with ongoing discussions for a potential Grexit, UK euro scepticism and a slide in the Euro value affecting outbound M&A. Announcements valued at US$ 449.8bn during were 8.1% below. Inversion deals were a theme in, but US regulations have visibly hindered deal making between US and European firms. Inbound M&A worth US$ 160.7bn has seen 40.0% of this come from the US (US$ 64.3bn), down from 67.1% in. The expected Monsanto/Syngenta deal could be an indication of how future inversion deals are likely to turn out, pending approvals. European firms have withdrawn from being active foreign acquirers with the continued weak Euro rate likely to be a deterrent. Outbound M&A in Q1 and Q2 were the lowest quarterly values in eighteen months, resulting in s US$ 73.2bn-worth of deals dropping 42.7% compared to and with 133 fewer deals. Attraction to Europe s technological edge by Chinese and Japanese investors has intensified to a point that the region s growth rate in Technology M&A has overtaken the US during. European Technology M&A value reached US$ 41.7bn in, up 20.9% from the whole of, meanwhile in the US, values are consistently strong but are still down 12.0% on the whole of last year. Chinese and Japanese companies have taken their highest share on record at 15.8% with US$ 6.6bn-worth of deals. The UK has sprung back to life in and shareholders are confident, supportive and positive, with the Brexit debate not likely to cause an issue in the near future. The UK has already reached its highest annual total M&A value since 2008 and contributes 44.8% towards total European M&A, with deals valued at US$ 201.5bn. Quarterly M&A activity Q1 Q2 Q3 Q4 of deals (US$bn) : $449.8bn 2007 2008 265.3 295.7 558.8 385.0 203.2 287.6 217.1 286.5 Total 1,495.6 Total 1,003.6-8.1% Second highest first six months of any year since 2008 2009 2010 2011 2012 2013 121.6 77.8 79.0 188.4 Total 466.8 127.5 114.5 152.2 243.1 Total 637.3 184.4 242.4 167.0 133.2 Total 727.0 171.9 136.3 187.4 198.4 112.0 147.9 250.8 158.3 Total 722.1 Total 640.9 Q2 vs. Q1 Europe s share in global M&A value 39.3% 26.4% Second highest Q2 on record post-2007, up from Q1 First period to drop below 30% since 2010 Top three targeted countries 177.5 187.9 Sector breakdown in vs Energy, Mining & Utilities Pharma, Medical & Biotech Telecommunications Consumer Industrials & Chemicals Technology Financial Services Other 312.0 261.8 $46.0bn $104.6bn $85.0bn $47.8bn $68.4bn $47.5bn $39.1bn $47.4bn $56.9bn $45.4bn $14.5bn $41.7bn $29.0bn $25.7bn $150.5bn $89.7bn 3.0% 5.9% 5.7% 201.3 Total 449.8 8.0% 9.4% 10.1% 9.3% 10.6% 10.6% 10.5% 11.6% 211.9 14.0% 17.4% 19.9% Total 902.7 23.3% 30.7% UK: $201.5bn France: $52.8bn Ireland: $37.8bn Miscellaneous Inbound M&A: $160.7bn Asia overtakes US for rate of inbound investment Intra-regional cross-border 44.8% -56.0% -28.7% 35.7% 0.4% 1.9% Share in European M&A highest since 2010, value up 29.7% from entire Down from with both Q1 and Q2 failing to surpass $30bn Down from but Q2 was the second highest quarter on record ($36.3bn) Inbound M&A accounts for the highest share to any total since 2011 Asia ($48.2bn) already up 0.4% on whole of, US slows 39.7% from Focus on cross-border within Europe ($202.7bn) rather than outbound * % indicates market share Global and regional M&A: 5

Europe Top deals value (US$bn) Ann. date Bidder company Bidder country Target company Target country Target sector Seller company 81.2 08-Apr Royal Dutch Shell Plc Netherlands BG Group Plc UK 35.0 24-Apr Mylan NV UK Perrigo Company plc Ireland (Republic) 19.0 05-Feb BT Group plc UK EE Limited UK Orange SA; and Deutsche Telekom AG 15.3 24-Mar Hutchison Whampoa Limited Hong Kong Telefonica UK Limited United Kingdom Telefonica SA 15.3 15-Apr Nokia Oyj Finland Alcatel-Lucent France Sector key Energy Pharma Telco Technology League table by value Rank Company name % 1 1 Freshfields Bruckhaus Deringer 173,691 64 243,305-28.6% 2 111 Cravath, Swaine & Moore 143,511 12 5,933 2,318.9% 3 14 Allen & Overy 140,192 99 63,762 119.9% 4 6 Slaughter and May 119,776 32 92,108 30.0% 5 112 De Brauw Blackstone Westbroek 107,797 28 5,879 1,733.6% 6 105 Pinheiro Neto Advogados 88,642 7 6,532 1,257% 7 84 King & Wood Mallesons 87,434 37 9,021 869.2% 8 80 Ashurst 86,777 36 10,135 756.2% 9 108 Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados 81,347 4 6,180 1,216.3% 10 3 77,402 36 133,295-41.9% 11 4 Linklaters 76,934 85 128,765-40.3% 12 8 Wachtell, Lipton, Rosen & Katz 60,291 6 80,536-25.1% 13 12 Latham & Watkins 59,810 53 69,307-13.7% 14 11 Clifford Chance 56,657 78 78,059-27.4% 15 40 Davis Polk & Wardwell 55,451 14 27,487 101.7% 16 22 A&L Goodbody 55,318 12 49,150 12.5% 17 20 White & Case 49,741 62 51,994-4.3% 18 5 Sullivan & Cromwell 48,831 17 120,565-59.5% 19 10 Arthur Cox 46,572 14 78,511-40.7% 20 7 Simpson Thacher & Bartlett 40,950 12 88,439-53.7% Global and regional M&A: 6

US Confidence within the US market is on a high, fuelled by low interest rates, stable economic growth and an abundance of corporate cash. deal values mark the third first-half increase in a row, with US$ 721.5bn-worth of deals reaching the highest deal value since 2007, and a 20.7% increase compared to the same period in. The domestic market has been a driving force for M&A in, as companies increasingly search within their borders for prime targets. Domestic deal value reached US$ 577.4bn in, accounting for a 80% of the total deal value targeting the US, and the second highest deal value since 2007. Sellers are commanding higher multiples for deals, with EBITDA multiples increasing from 14.7x in to 17.7x in, the highest multiple after 2007 (17.9x). In the attempt to supply consumers all their needs in one place, on demand and quickly, there has been increased level of crossinvestment between the Technology and Telecommunication sectors. A spurt of deals merging the two sectors (30 deals worth US$ 108.1bn) resulted in both Technology (US$ 112.3bn) and Telecommunications (US$ 119.3bn) reaching record deal values. Despite overall outbound activity dropping, the US has still shown a strong amount of interest in UK-based companies, encouraged by corporate tax incentives, low inflation and a high GDP. The US$ 26.9bn-worth of deals targeting the UK jumped 58.1% from, driven by deals targeting Business Services (US$ 9.5bn) and Industrial & Chemicals (US$ 8.8bn) sectors, and with Business Services reaching its highest deal value on Mergermarket record. Quarterly M&A activity Q1 Q2 Q3 Q4 of deals (US$bn) : $721.5bn 2007 2008 351.8 145.7 268.0 526.0 263.8 78.4 256.5 Total 756.0 229.4 Total 1,363.7 20.7% Increase compared to. Second highest on record, after 2007 2009 2010 2011 2012 2013 199.2 146.3 248.7 128.2 179.6 186.3 98.6 205.1 Total 689.2 180.6 154.3 244.9 Total 726.1 187.7 207.2 192.2 Total 835.8 190.2 235.3 314.7 Total 868.4 176.3 313.5 226.2 Total 895.5 Q2 vs. Q1 US s share in global M&A value 5.4% 42.4% Cross-border activity Increae by value even though there were 235 fewer deals Highest % share in global value since 2009 216.4 351.2 381.4 370.3 415.1 Total 721.5 373.9 Total 1,386.8 Domestic activity $577.4bn 26.5% Increase from, reaching the second highest value on record Sector breakdown in vs Pharma, Medical & Biotech Telecommunications Technology Energy, Mining & Utilities Consumer Industrials & Chemicals Business Services Other $104.3bn $120.7bn $74.4bn $119.3bn $72.8bn $112.3bn $98.5bn $79.0bn $60.9bn $78.9bn $57.0bn $57.0bn $39.4bn $45.0bn $90.6bn $109.3bn 6.6% 6.2% 10.2% 9.5% 7.9% 12.4% 12.2% 10.9% 10.9% 15.2% 16.5% 17.4% 15.2% 15.6% 16.7% 16.5% US investing into UK $26.9bn Inbound activity $144.1bn Miscellaneous Technology $112.3bn s over $10bn EBITDA multiples 58.1% 1.9% 54.3% 119.7% 17.7x Third highest period on record Inbound M&A edges above, reaching the highest post-2007 Up from, highest value on record,12.1% away from whole of Increase by deal value compared to, with 9 more deals Up from 14.3x in, and the highest multiple on record * % indicates market share Global and regional M&A: 7

US Top deals value (US$bn) Ann. date Bidder company Bidder country Target company Target sector 77.8 26-May Charter Communications Inc USA Time Warner Cable Inc 54.5 25-Mar HJ Heinz Company USA Kraft Food Group Inc 34.9 28-May Avago Technologies USA Broadcom Corp 19.0 04-Mar Abbvie Inc USA Pharmacyclics Inc 17.8 26-Jan Energy Transfer Partners USA Regency Energy Partners Sector key Telco Consumer Technology Pharma Energy League table by value Rank Company name % 1 1 270,763 87 316,318-14.4% 2 7 Latham & Watkins 252,110 101 135,244 86.4% 3 3 Sullivan & Cromwell 235,813 48 237,645-0.8% 4 12 Kirkland & Ellis 230,276 135 113,834 102.3% 5 8 Davis Polk & Wardwell 204,241 49 130,975 55.9% 6 6 White & Case 185,620 67 153,202 21.2% 7 21 Fried Frank Harris Shriver & Jacobson 181,825 38 65,049 179.5% 8 9 Wachtell, Lipton, Rosen & Katz 167,148 45 119,007 40.5% 9 10 Paul Weiss Rifkind Wharton & Garrison 135,163 46 116,157 16.4% 10 30 Cravath, Swaine & Moore 121,573 38 49,468 145.8% 11 2 Simpson Thacher & Bartlett 110,701 38 240,733-54.0% 12 42 Gibson Dunn & Crutcher 99,858 43 23,504 324.9% 13 44 DLA Piper 95,797 88 22,939 317.6% 14 26 Davies Ward Phillips & Vineberg 80,809 14 54,981 47.0% 15 5 Cleary Gottlieb Steen & Hamilton 74,430 38 188,294-60.5% 16 4 Weil Gotshal & Manges 74,120 66 191,375-61.3% 17 62 Wilson Sonsini Goodrich & Rosati 71,854 46 10,902 559.1% 18 16 Shearman & Sterling 69,448 38 90,093-22.9% 19 15 Debevoise & Plimpton 65,141 38 93,991-30.7% 20 31 Baker Botts 62,596 34 47,377 32.1% Global and regional M&A: 8

Asia-Pacific (excl. Japan) Asian dealmaking is continuing its bullish streak, shown by three consecutive quarterly record deal values targeting the region. The 1,563 deals valued at US$ 408.4bn announced in marked the highest deal value on Mergermarket record, overtaking the value by 42.2%. A string of mega-deals (>US$10bn) targeting the region has boosted activity in, with five deals worth US$ 124.7bn taking 30.5% of total market share, up from 16.4% in. Asian companies are looking for all round growth by strengthening their position in their home market as well as abroad. saw the highest outbound (US$ 62.2bn) deal value on Mergermarket record, increasing year-on-year by 45.7%. The value of domestic activity (US$ 362.7bn) also saw its highest half year deal value on record, up 51.2% from and accounting for 88.8% of the total Asia-Pacific (excl. Japan) deal value, reaching the highest market share on Mergermarket record. Asian firms have been looking towards European targets so far this year, accounting for 60% of Asia-Pacific's (excl. Japan) highest outbound deal value on record this year, with 89 deals worth US$ 37.3bn announced. The UK attracted US$ 22.4bn-worth of deals, up from US$ 3.3bn in, and the highest deal value since 2008. Chinese investors are focusing on their core markets at home which has boosted Asia-Pacific's domestic tally. China's domestic activity leapt to US$ 133.1bn in, the highest on record. Both Technology (130 deals worth US$ 25.2bn) and Industrials & Chemicals (174 deals worth US$ 25.5bn) took the lion's share, reaching their highest deal value and deal count on record. Valuations within Asia's Technology sector remain high as competition for deals heats up. The 269 deals worth US$ 41.4bn during marked a huge increase from 210 deals worth US$ 26.7bn in. Valuations have followed suit, with EBITDA multiples jumping from 20.2x to 22.5x year-on-year, the highest multiple since 2010. Quarterly M&A activity Q1 Q2 Q3 Q4 of deals (US$bn) : $408.4bn 2007 2008 85.2 74.5 90.8 75.4 92.2 125.8 56.6 90.2 Total 343.6 Total 347.2 42.2% Increase from reaches highest half-year period on record 2009 45.8 76.8 66.2 105.8 Total 294.6 Q2 vs. Q1 21.5% Highest quarterly value on Mergermarket record 2010 2011 66.7 87.5 72.2 79.0 92.7 115.9 131.1 73.1 Total 362.7 Total 355.5 Asia s share in global M&A value 24.0% Increased from 18.8% in 2012 2013 82.5 69.3 81.2 108.4 105.1 116.8 85.1 116.8 Total 353.8 Total 411.4 Top three targeted countries 117.3 184.4 Energy, Mining & Utilities Consumer Real Estate Technology Industrials & Chemicals Financial Services Transport Other $39.1bn $69.9bn $29.5bn $60.4bn $25.0bn $57.3bn $26.7bn $41.4bn $27.9bn $36.7bn $29.0bn $33.2bn $16.2bn $22.5bn $93.7bn $87.0bn 169.8 5.6% 224.0 5.5% 8.7% 9.3% 10.3% 9.7% 10.1% 9.0% 10.1% 8.1% 13.6% 140.1 14.8% 14.0% 17.1% 170.1 Total 408.4 Sector breakdown in vs 21.3% 32.6% * % indicates market share Total 597.4 China $151.1bn Hong Kong $106.5bn South Korea $62.9bn Miscellaneous China s Outbound M&A Private equity buyouts Private equity exits 16.4% 255.8% 80.1% 13.9% -29.8% 2.9% Increase from, second highest half-year value on record Increase from, highest annual total on record Increase from, likely to be second highest annual total on record $ 23.8bn-worth of deals mark the highest deal value on record Down from, but still the third highest on record Increase from with 7 more exits, reaches second highest half-year on record Global and regional M&A: 9

Asia-Pacific (excl. Japan) Top deals value (US$bn) Ann. date Bidder company Bidder country Target company Target country Target sector Seller company 40.8 9-Jan Cheung Kong (Holdings) Limited Hong Kong Hutchison Whampoa Limited (50.03% Stake) Hong Kong 34.9 8-May CK Hutchison Holdings Limited (Shareholders) Hong-Kong Cheung Kong Property Holdings Limited Hong Kong Cheung Kong (Holdings) Limited 26.4 20-Apr SK C&C Co Limited South Korea SK Holdings Co Limited (68.18% Stake) South Korea 11.3 17-Mar BHP Billiton Ltd (Shareholders) Australia South32 Australia BHP Billiton Ltd 11.3 26-May Cheil Industries Inc South Korea Samsung C&T Corporation South Korea - Sector key Consumer Real Estate Energy League table by value Rank Company name % 1 1 Freshfields Bruckhaus Deringer 120,172 19 76,423 57.2% 2 5 Linklaters 99,518 24 27,397 263.2% 3 97 Commerce and Finance Law Offices 77,382 6 1,473 5,153.4% 4 84 Guantao Law Firm 76,235 3 1,932 3,845.9% 5 - Woo Kwan Lee & Lo 75,608 2 - - 6 14 51,498 23 14,598 253% 7 7 Herbert Smith Freehills 47,283 37 25,863 82.8% 8 6 Kim & Chang 44,694 34 26,723 67.2% 9 71 Stikeman Elliott 42,927 6 2,532 1,595.4% 10 3 King & Wood Mallesons 28,950 48 38,738-25.3% 11 24 Bae Kim & Lee 28,565 22 9,674 195.3% 12 16 Lee & Ko 20,157 19 11,628 73.3% 13 21 Baker & McKenzie 19,334 28 10,201 89.5% 14 22 Slaughter and May 17,217 6 10,043 71.4% 15 17 Cleary Gottlieb Steen & Hamilton 15,108 8 11,113 35.9% 16 4 Clifford Chance 14,802 20 31,053-52.3% 17 37 Grandall Law Firm 14,076 25 6,851 105.5% 18 20 Ashurst 13,890 14 10,277 35.2% 19 13 Davis Polk & Wardwell 13,315 10 14,916-10.7% 20 23 Kirkland & Ellis 13,059 13 9,889 32.1% Global and regional M&A: 10

Japan Japanese management teams are leading their companies away from a stationary economy and outside of their home market. Total outbound M&A has already hit an annual three-year peak at US$ 54.1bn, with other Asian targets taking a 42.2% proportion, a jump from an average of 23.9% since 2001. In a race to regain a position in the technology market, this was the second most sought after industry by deal count for Japanese firms looking towards other Asian companies. Japanese outbound investment targeting Asian technology firms saw seven deals valued at US$ 1.8bn, a jump from just five transactions worth US$ 146m in. Another driving force behind outbound M&A is the effort to acquire technology in Europe. The value of Japan s outbound investment into Europe is already 63.7% above the whole of, with technology reaching its highest level on record and taking a 43.1% share of total outbound M&A into the region. Japanese firms are showing more interest in deals within Japan but they are less bold in their size compared to outbound transactions into developed markets. Domestic activity saw fifteen more deals compared to but with a 6.5% lower deal value with 181 transactions amounting to US$ 12.7bn showing a pick-up in activity but for the lower deal size brackets. The push towards other markets and a lack of inbound investment resulted in Japan targeted M&A continuing its downward cycle. The value of M&A during decreased 15.8% to US$ 14.3bn, down from US$ 17.0bn in. On a quarterly basis however, the value picked up in Q2 with deals worth US$ 8.9bn increasing by 65.5%. Outside of Asia, firms are wary of investing in a country that hasn t yet seen strong enough positive effects from the government s recovery programme to encourage investment into Japan. The US has been the only country to spend on deals in Japan from outside of the region so far this year with six deals worth US$ 1.2bn. Quarterly M&A activity Q1 Q2 Q3 Q4 of deals (US$bn) : $14.3bn 2007 2008 26.1 17.3 18.0 11.9 10.8 15.5 12.2 32.2 Total 55.8 Total 88.2-15.8% Down from, lowest period since 2002 2009 2010 2011 2012 2013 10.6 13.9 12.3 14.1 8.1 14.1 24.1 7.3 17.2 33.3 32.6 26.3 15.2 4.8 7.3 29.7 6.8 13.9 16.2 Total 35.3 Total 61.4 21.5 Total 83.7 Total 70.5 Total 78.5 Q2 vs. Q1 Domestic M&A: 181 deals, $12.7bn 65.5% + 15 deals Outbound activity Q2 value increases after Nomura Real Estate mergers Domestic activity sees more deals than in both and H2 6.2 5.4 10.8 8.9 5.0 Total 14.3 9.3 Total 31.2 Sector breakdown in vs Real Estate Financial Services Consumer Other Leisure Industrials & Chemicals Pharma, Medical & Biotech Business Services s y $56m $4,548m $2,633m $1,962m $2,287m $1,806m $68m $1,578m $5,894m $1,241m $351m $633m $685m $625m $4,984m $1,890m 0.3% 0.4% 2.1% 4.4% 4.0% 4.4% 8.7% 12.6% 11.1% 13.7% 13.2% 13.5% 15.5% 31.8% 29.4% 34.8% * % indicates market share outbound value: $54.1bn Outbound to other Asian countries Financial Services outbound activity Miscellaneous Mid-market M&A value ($10m-$250m) Private equity buyouts Consumer buyouts 1.4% 30.8% 36.4% 19.8% $496m 7 deals up from whole of and already the second annual increase Highest annual value ($22.8bn) on record, up 30.8% from peak in 2008 50.1% higher value ($14.5bn) compared to whole of Mid-market deals worth $5.2bn take higher share than 26.5% in value increases compared to, and 45.1% from 2013 Most targeted sector for buyouts, one deal away from matching Global and regional M&A: 11

Japan Top deals value Ann. date Bidder company Bidder country Target company Target sector Seller company 3.0 27-May Nomura Real Estate Master Fund Inc Japan Nomura Real Estate Office Fund 1,.5 27-May Nomura Real Estate Master Fund Inc Japan Nomura Real Estate Residential Fund Inc 1.5 27-Mar The Higo Bank Ltd Japan The Kagoshima Bank 0.7 28-Apr GungHo Online Entertainment Inc Japan GungHo Online Entertainment Inc (16.4% Stake) SoftBank Corp 0.4 13-Feb Bain Capital LLC USA Ooedo-onsen Holdings Co Ltd Hiroshi Hashimoto and family (private investors) Sector key Real Estate Financial Services Leisure League table by value Rank Company name % 1 6 Mori Hamada & Matsumoto 14,579 32 11,312 28.9% 2 18 Freshfields Bruckhaus Deringer 13,263 6 3,426 287.1% 3 1 Nishimura & Asahi 11,044 29 27,645-60.1% 4 20 Sullivan & Cromwell 8,850 6 2,835 212.2% 5 36 8,706 5 557 1,463.0% 6 40 Simpson Thacher & Bartlett 8,613 2 515 1,572.4% 7 10 Debevoise & Plimpton 8,472 4 5,708 48.4% 8 9 Willkie Farr & Gallagher 7,460 1 5,708 31% 9 28 Ashurst 6,781 4 966 602.0% 10 52 Herbert Smith Freehills 6,743 5 305 2,110.8% 11 21 Nagashima Ohno & Tsunematsu 6,329 17 2,702 134.2% 12= - Clayton Utz 6,283 1 - - 12= - Simpson Grierson 6,283 1 - - 14 3 Sidley Austin 5,464 3 16,437-66.8% 15 29 Morrison & Foerster 4,756 11 927 413.1% Global and regional M&A: 12

Africa & Middle East Total M&A activity targeting the region has fallen, as a decreased domestic deal value signals a lack of confidence in home markets. The value of M&A dropped 29.4% to US$ 18.9bn compared to, the lowest deal value since 2009. domestic activity (92 deals worth US$ 9.1bn) also saw a 52% decrease compared to, with 36 fewer deals. In contrast to the decline in domestic M&A, companies are spending more on acquisitions outside of the region in search for growth. Outbound activity increased 47% year-on-year to reach US$ 20.9bn, the highest value on Mergermarket record since 2011, despite seeing 14 less deals. The increased outbound activity was led by South Africa, following a few high valued deals within the Consumer and Leisure industries. The outbound deal value more than doubled to US$ 6.4bn in from the same period last year, reaching its highest value on record, with the UK being the prime target (five deals worth US$ 6bn). The Energy, Mining & Utilities sector remains the anchor for M&A activity in the region. The 29 deals worth US$ 8.1bn showed a 84.5% increase compared to, not reaching 2013's record deal value (US$ 11.5bn), as some companies come under pressure to sell assets in order to cut costs because of the fall in oil prices. Inbound activity has increased year-on-year, driven by interest from foreign companies towards UAE. A total of six deals worth US$ 3.3bn in took a 33.9% share in total inbound activity, showing a huge increase from the mere US$ 113m recorded in. activity focused on the Construction (one deal worth US$ 1.5bn), Energy, Mining & Utilities (two deals worth US$ 1.8bn) and Industrials & Chemicals (two deals worth US$ 1.6bn) sectors, each substantially overtaking their full deal value. Quarterly M&A activity Q1 Q2 Q3 Q4 of deals (US$bn) : $18.9bn 2007 2008 19.9 13.1 12.6 20.9 12.9 11.2 14.6 34.7 Total 51.8 Total 88.1 29.4% Decreased from, reaching the third lowest half-year value since 2006 2009 5.3 4.0 15.6 7.8 Total 32.7 Q2 vs. Q1 13.4% The lowest Q2 value since 2011 2010 2011 2012 2013 25.4 19.8 8.8 12.7 13.5 21.6 8.0 6.5 11.4 10.5 8.2 7.2 20.7 13.6 12.8 Total 54.3 Total 44.9 Total 53.5 15.4 Total 63.3 Inbound deal value $148.5 26.0% Top three acquirers Increased from, but Q2 was the second quarterly decline 7.2 19.6 9.1 23.7 Total 59.6 10.1 8.8 Total 18.9 Sector breakdown in vs South Africa $6.4bn UAE $3.3bn 124% 31.0% marks the highest outbound deal value on record at $6.4bn Decreased from with nine fewer deals Energy, Mining & Utilities Technology $4,366m $8,054m $2,243m $1,900m 8.4% 10.0% 16.3% 42.6% Qatar $3.2bn 3.4% Down from, with five fewer deals Financial Services $2,240m $1,590m 8.4% 8.4% Miscellaneous Construction Pharma, Medical & Biotech Leisure Industrials & Chemicals Other $1,638m $1,565m $417m $1,176m $813m $875m $416m $857m $14,657m $2, 895m 6.1% 8.3% 1.6% 3.0% 1.6% 6.2% 4.6% 4.5% 15.3% 54.7% Energy, Mining & Utilities Africa Inbound (excl. Middle East) Total outbound M&A 84.5% 21.5% 47.0% Increasedcompared to, with two more announcements Increased compared to, and with five more deals ($20.9bn)marks the highest half-year value since 2011 * % indicates market share Global and regional M&A: 13

Africa & Middle East Top deals value (US$bn) Ann. date Bidder company Bidder country Target company Target country Target sector Seller company 2.7 15-Jun Emirates National Oil Company Ltd UAE Dragon Oil Plc (46.1% stake) UAE 1.5 16-Feb OCI NV (Shareholders) Netherlands Orascom Construction Ltd UAE OCI NV 1.1 27-Apr Inpex Corporation Japan ADCO Onshore Concession (5% stake) UAE Abu Dhabi National Oil Company 1.0 06-Jan Israel Corporation (Shareholders) Israel Kenon Holdings Limited Israel Israel Corporation 0.8 20-Mar Sun International (South Africa) Limited Sector key Energy Construction Leisure South Africa Peermont Global Limited South Africa Mineworkers Investment Company (Pty) Ltd; and Peermont Global Limited (Creditors) League table by value Rank Company name % 1 3 Freshfields Bruckhaus Deringer 7,095 8 4,887 45.2% 2 29 DLA Cliffe Dekker Hofmeyr 6,985 13 1,622 330.6% 3 13 Allen & Overy 6,045 13 2,602 132.3% 4 2 Linklaters 5,816 6 5,698 2.1% 5 4 Clifford Chance 5,186 9 4,042 28.3% 6 168 Cravath, Swaine & Moore 4,018 2 - - 7 25 Macfarlanes 3,752 2 1,682 123.1% 8 57 Goodwin Procter 3,603 2 429 739.9% 9 1 White & Case 3,553 7 7,172-50.5% 10 64 Cooley 3,198 1 300 966.0% 11 173 Eversheds 3,042 2 - - 12 - Maitland & Co 2,982 1 - - 13= - Arthur Cox 2,655 1 - - 13= - Mason Hayes & Curran 2,655 1 - - 15 90 Slaughter and May 2,565 4 128 1,903.9% 16 17 ENSafrica 1,806 14 2,237-19.3% 17 8 Shearman & Sterling 1,720 5 3,143-45.3% 18 104 1,694 5 100 1,594.0% 19 - Zulficar & Partners 1,694 2 - - 20 14 Meitar Liquornik Geva Leshem Tal & Co 1,662 11 2,569-35.3% Global and regional M&A: 14

Global Global by deal value Rank Company name Global by deal count Rank Company name 1 1 349,407 119-3.0% 2 9 Latham & Watkins 281,304 130 79.0% 3 3 Sullivan & Cromwell 279,844 65-1.5% 4 2 Freshfields Bruckhaus Deringer 271,718 82-14.2% 5 8 Davis Polk & Wardwell 252,480 62 54.3% 6 40 Cravath, Swaine & Moore 251,390 42 403.5% 7 13 Kirkland & Ellis 232,776 142 88.1% 8 12 Wachtell, Lipton, Rosen & Katz 221,373 48 75.4% 9 7 White & Case 197,136 113-4.4% 10 28 Fried Frank Harris Shriver & Jacobson 181,978 39 157.8% 11 10 Linklaters 159,187 97 7.2% 12 29 Allen & Overy 146,875 113 119.7% 13 14 Paul Weiss Rifkind Wharton & Garrison 138,312 51 12.2% 14 19 Slaughter and May 135,711 35 38.8% 15 5 Simpson Thacher & Bartlett 130,724 46-52.1% 1 1 DLA Piper 98,971 156-69 2 4 Jones Day 34,566 144-30 3 3 Kirkland & Ellis 232,776 142-50 4 2 Latham & Watkins 281,304 130-77 5 13 349,407 119 1 6 6 White & Case 197,136 113-31 7 12 Allen & Overy 146,875 113-6 8 10 Linklaters 159,187 97-29 9 7 Clifford Chance 79,708 92-47 10 9 Weil Gotshal & Manges 81,389 91-37 11 14 CMS 10,009 91-26 12 8 Freshfields Bruckhaus Deringer 271,718 82-48 13 5 Baker & McKenzie 52,635 81-76 14 11 King & Wood Mallesons 114,521 78-47 15 21 Stikeman Elliott 62,149 78 2 Global *buyouts by deal value Rank Company name Global *buyouts by deal count Rank Company name 1 15 Ropes & Gray 11,570 26 104.7% 2 13 Linklaters 9,319 13 56.7% 3 1 Kirkland & Ellis 9,031 53-62.8% 4 2 Clifford Chance 8,967 23-57.3% 5 6 Weil Gotshal & Manges 7,738 26-53.3% 6 32 Fried Frank Harris Shriver & Jacobson 7,078 7 157.4% 7 5 Freshfields Bruckhaus Deringer 6,830 10-60.3% 8 49 Davis Polk & Wardwell 6,640 5 306.6% 9 176 Orrick Herrington & Sutcliffe 5,777 4 8,152.9% 10 3 Latham & Watkins 5,719 14-71.7% 11 26 Paul Weiss Rifkind Wharton & Garrison 5,512 13 45.8% 12 43 Torys 5,382 8 173.8% 13 189 DLA Cliffe Dekker Hofmeyr 4,625 2 9,150% 14 7 Cleary Gottlieb Steen & Hamilton 4,546 5-65.2% 15 8 White & Case 3,744 23-67.7% 1 1 Kirkland & Ellis 9,031 53-15 2 19 Ropes & Gray 11,570 26 13 3 3 Weil Gotshal & Manges 7,738 26-6 4 4 Clifford Chance 8,967 23-7 5 12 White & Case 3,744 23 5 6 11 Jones Day 495 20 1 7 9 DLA Piper 520 16-7 8 14 Willkie Farr & Gallagher 1,762 15-2 9 2 Latham & Watkins 5,719 14-26 10 6 Linklaters 9,319 13-12 11 16 Paul Weiss Rifkind Wharton & Garrison 5,512 13-4 12 15 Allen & Overy 2,761 11-6 13 23 Morgan Lewis & Bockius 1,908 11-1 14 31 Winston & Strawn 54 11 1 15 8 Freshfields Bruckhaus Deringer 6,830 10-13 *Based on advisors to bidder on buyout deals only with the target domininant geography being Global Global and regional M&A: 15

Europe Europe by deal value Rank Company name Europe by deal count Rank Company name 1 1 Freshfields Bruckhaus Deringer 173,691 64-28.6% 2 111 Cravath, Swaine & Moore 143,511 12 2,319% 3 14 Allen & Overy 140,192 99 119.9% 4 6 Slaughter and May 119,776 32 30.0% 5 112 De Brauw Blackstone Westbroek 107,797 28 1,7334% 6 105 Pinheiro Neto Advogados 88,642 7 1,257% 7 84 King & Wood Mallesons 87,434 37 869.2% 8 80 Ashurst 86,777 36 756.2% Mattos Filho, Veiga Filho, Marrey 9 108 81,347 4 1,216.3% Jr. e Quiroga Advogados 10 3 77,402 36-41.9% 11 4 Linklaters 76,934 85-40.3% 12 8 Wachtell, Lipton, Rosen & Katz 60,291 6-25.1% 13 12 Latham & Watkins 59,810 53-13.7% 14 11 Clifford Chance 56,657 78-27.4% 15 40 Davis Polk & Wardwell 55,451 14 101.7% 1 6 Allen & Overy 140,192 99 5 2 2 CMS 10,009 91-25 3 4 Linklaters 76,934 85-23 4 1 DLA Piper 3,832 83-53 5 3 Clifford Chance 56,657 78-33 6 5 Freshfields Bruckhaus Deringer 173,691 64-39 7 7 White & Case 49,741 62-30 8 8 Latham & Watkins 59,810 53-37 9 10 Jones Day 9,839 52-27 10 9 Baker & McKenzie 30,688 50-38 11 19 Squire Patton Boggs 1,345 43 2 12 13 Weil Gotshal & Manges 21,262 40-17 13 12 Hogan Lovells International 4,190 39-23 14 22 Loyens & Loeff 10,569 38 0 15 54 Taylor Wessing 3,926 38 13 Europe *buyouts by deal value Rank Company name Europe *buyouts by deal count Rank Company name 1 5 Clifford Chance 8,851 20 26.6% 2 7 Linklaters 7,986 9 48.3% 3 1 Freshfields Bruckhaus Deringer 5,067 6-54.6% 4 - DLA Cliffe Dekker Hofmeyr 4,625 2-5 3 Weil Gotshal & Manges 3,797 8-53.6% 6 59 Paul Weiss Rifkind Wharton & Garrison 3,272 2 862.4% 7 - Maitland & Co 2,982 1-8 - Torys 2,837 2-9 9 Allen & Overy 2,761 10-31.2% 10 41 Bonelli Erede Pappalardo 2,559 3 272.5% 11= - Carlo Pavesi 2,095 1-11= - Studio Legale Carbonetti 2,095 1-13 92 Houthoff Buruma 1,800 5 2,547% 14 - Deacons 1,800 1-15 - Nabarro 1,653 1-1 4 Clifford Chance 8,851 20 3 2 5 White & Case 1,201 12-2 3 7 DLA Piper 295 11-2 4 8 Allen & Overy 2,761 10-2 5 1 Linklaters 7,986 9-12 6 6 Latham & Watkins 1,159 9-5 7 9 Weil Gotshal & Manges 3,797 8-3 8 14 Ashurst 837 8 0 9 11 CMS 371 8-2 10 50 Accura 293 8 5 11 37 Travers Smith 1,636 7 3 12 27 Willkie Farr & Gallagher 669 7 2 13 22 Taylor Wessing - 7 1 14 3 Freshfields Bruckhaus Deringer 5,067 6-11 15 42 Loyens & Loeff 1,560 6 2 *Based on advisors to bidder on buyout deals only with the target domininant geography being Europe Global and regional M&A: 16

Europe UK by deal value Rank Company name UK by deal count Rank Company name 1 1 Freshfields Bruckhaus Deringer 152,540 35 93.6% 2 45 Cravath, Swaine & Moore 120,539 5 2,433% 3 3 Slaughter and May 105,038 27 205.6% 4 12 Allen & Overy 97,723 34 302.4% 5 39 Ashurst 85,575 25 1,482% 6 42 King & Wood Mallesons 83,864 19 1,628% 7 66 De Brauw Blackstone Westbroek 81,792 6 3,014.7% 8 - Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados 81,304 2-9 173 Pinheiro Neto Advogados 81,154 1 33,024% 10 38 Davis Polk & Wardwell 46,445 5 719.1% 11 174 A&L Goodbody 43,283 7 17,786% 12 70 Arthur Cox 36,698 7 1,434.2% 13 4 Clifford Chance 35,751 38 4.8% 14 29 NautaDutilh 35,383 4 221.7% 15 27 Stibbe 35,262 2 161.0% 1 4 Clifford Chance 35,751 38-5 2 15 Squire Patton Boggs 1,315 36 10 3 3 Freshfields Bruckhaus Deringer 152,540 35-13 4 9 Allen & Overy 97,723 34 1 5 2 Linklaters 33,975 34-19 6 5 CMS 5,760 34-9 7 1 DLA Piper 1,143 31-33 8 19 Travers Smith 15,533 29 6 9 17 Slaughter and May 105,038 27 3 10 8 Pinsent Masons 2,166 27-7 11 18 Addleshaw Goddard 2,689 26 2 12 21 Ashurst 85,575 25 4 13 41 Taylor Wessing 3,510 24 14 14 20 Herbert Smith Freehills 22,660 23 2 15 10 Eversheds 4,795 23-9 Ireland by deal value Rank Company name Ireland by deal count Rank Company name 1 5 A&L Goodbody 47,205 11-4.0% 2 1 Arthur Cox 45,884 11-41.5% 3 27 Davis Polk & Wardwell 40,265 4 3,386% 4 2 Wachtell, Lipton, Rosen & Katz 37,344 2-50% 5 - Stibbe 35,044 3-6= - Cravath, Swaine & Moore 35,044 1-6= - NautaDutilh 35,044 1-8 3 18,935 6-73.9% Fried Frank Harris Shriver & 9 17 13,011 2-47% Jacobson 10 11 Slaughter and May 9,786 3-78.7% 11 21 Ropes & Gray 8,050 2 246.2% 12 - O'Melveny & Myers 8,050 1-13= - ARQIS 7,359 1-13= - Demarest 7,359 1-13= - Pinheiro Neto Advogados 7,359 1-13= - Tozzini Freire Teixeira e Silva Advogados 7,359 1-1 4 William Fry 2,173 12 2 2 2 A&L Goodbody 47,205 11-7 3 1 Arthur Cox 45,884 11-11 4 5 McCann FitzGerald 1,645 7-1 5 6 Mason Hayes & Curran 44 7 0 6 8 18,935 6 1 7 19 White & Case 4,240 5 2 8 31 Linklaters 4,128 5 3 9 14 Davis Polk & Wardwell 40,265 4 0 10 45 Stikeman Elliott 720 4 3 11 86 Baker & McKenzie 680 4 3 12 3 Matheson 178 4-7 13 11 Maples & Calder 0 4-1 14 - Stibbe 35,044 3-15 44 Slaughter and May 9,786 3 2 Global and regional M&A: 17

Europe Germany by deal value Rank Company name Germany by deal count Rank Company name 1 1 Freshfields Bruckhaus Deringer 24,492 16-24.7% 2 5 Clifford Chance 21,501 23-9.6% 3 13 Cleary Gottlieb Steen & Hamilton 19,091 3 25.3% 4 89 Norton Rose Fulbright 10,859 7 3,093.8% 5 3 Hengeler Mueller 7,264 17-73.8% 6 29 Allen & Overy 7,208 15 68.5% 7 53 CMS 6,804 42 377.8% 8 42 P+P Poellath + Partners 5,912 9 201.0% 9 2 Sullivan & Cromwell 5,065 2-83.2% 10 8 Gleiss Lutz 4,146 22-75.2% 11 50 Milbank Tweed Hadley & McCloy 3,856 7 129.8% 12 34 Noerr 3,773 18 37.8% 13 184 Binder Groesswang Rechtsanwaelte 3,081 3 30,710.0% 14 108 Schoenherr Rechtsanwaelte 2,923 4 1,650.3% 15 - Eisenberger & Herzog Rechtsanwalts 2,923 1-1 1 CMS 6,804 42 6 2 3 Clifford Chance 21,501 23-9 3 6 Gleiss Lutz 4,146 22-2 4 8 Noerr 3,773 18-4 5 4 Hengeler Mueller 7,264 17-9 6 2 Freshfields Bruckhaus Deringer 24,492 16-18 7 19 Heuking Kuhn Luer Wojtek 795 16 5 8 14 Allen & Overy 7,208 15 0 9 5 Latham & Watkins 2,847 15-9 10 16 DLA Piper 1,009 15 1 11 13 Taylor Wessing 171 13-3 12 11 Luther - 13-5 13 7 Linklaters 2,262 12-10 14 9 Baker & McKenzie 883 12-9 15 10 Jones Day 1,061 11-7 Germanic by deal value Rank Company name Germanic by deal count Rank Company name 1 1 Freshfields Bruckhaus Deringer 29,162 22-71.0% 2 3 Cleary Gottlieb Steen & Hamilton 25,770 5-66.5% 3 18 Clifford Chance 22,756 26-21% 4 35 Allen & Overy 11,463 22-9.2% 5 23 Norton Rose Fulbright 11,012 10-45.2% 6 6 Homburger 9,390 8-81.9% 7 126 Pinheiro Neto Advogados 7,389 2 1,556.7% 8 182 ARQIS 7,374 2 7,424.5% 9 73 Demarest 7,359 4 211.0% 10 98 Tozzini Freire Teixeira e Silva Advogados 7,359 2 452.1% 11 228 Arthur Cox 7,359 1 28,203.8% 12 14 Hengeler Mueller 7,264 19-78.0% 13 91 CMS 7,207 47 304.0% 14 20 Latham & Watkins 7,035 17-72.1% 15 12 Sullivan & Cromwell 6,992 5-79.8% 1 1 CMS 7,207 47 2 2 3 Clifford Chance 22,756 26-11 3 2 Freshfields Bruckhaus Deringer 29,162 22-22 4 13 Allen & Overy 11,463 22 2 5 8 Gleiss Lutz 4,146 22-2 6 7 Hengeler Mueller 7,264 19-9 7 10 Noerr 4,012 19-4 8 12 DLA Piper 1,318 19-3 9 4 Latham & Watkins 7,035 17-19 10 5 Baker & McKenzie 3,926 17-17 11 24 Heuking Kuhn Luer Wojtek 795 16 5 12 18 Taylor Wessing 434 15-1 13 21 Walder Wyss 374 14 1 14 6 Linklaters 5,941 13-18 15 9 Jones Day 4,061 13-10 Global and regional M&A: 18

Europe France by deal value Rank Company name France by deal count Rank Company name 1 - Wachtell, Lipton, Rosen & Katz 18,805 2-2 32 Latham & Watkins 17,595 17 175.9% 3 41 16,331 4 558.2% 4 16 Sullivan & Cromwell 15,769 2-40.7% 5 - Roschier 15,285 2-6= 281 Dittmar & Indrenius 15,285 1-6= - Fangda Partners 15,285 1-8 5 Linklaters 10,503 13-77.0% 9 27 Darrois Villey Maillot Brochier 10,415 15-10.8% 10 12 Allen & Overy 7,772 18-76.1% 11 200 Demarest 7,401 2 92,413% 12 176 Arthur Cox 7,399 3 28,358% 13 108 Pinheiro Neto Advogados 7,376 2 2,911% 14= - ARQIS 7,359 1-14= - Tozzini Freire Teixeira e Silva Advogados 7,359 1-1 9 Gide Loyrette Nouel 1,004 20-1 2 3 De Pardieu Brocas Maffei 921 19-5 3 13 Allen & Overy 7,772 18 0 4 4 Latham & Watkins 17,595 17-6 5 1 Weil Gotshal & Manges 3,858 17-10 6 20 Darrois Villey Maillot Brochier 10,415 15 3 7 2 CMS 1,404 15-10 8 8 Linklaters 10,503 13-8 9 16 Mayer Brown 6,020 13-1 10 5 Clifford Chance 4,832 13-9 11 7 Bredin Prat 4,467 13-8 12 6 King & Wood Mallesons 2,010 13-9 13 11 DLA Piper 413 13-6 14 21 Willkie Farr & Gallagher 2,971 12 0 15 19 Fidal 155 11-2 Benelux by deal value Rank Company name Benelux by deal count Rank Company name 1 41 De Brauw Blackstone Westbroek 107,797 28 3,399% 2 3 Allen & Overy 105,483 32 179.8% 3 - Cravath, Swaine & Moore 93,018 3-4 1 Freshfields Bruckhaus Deringer 87,116 12 61.7% 5 26 Slaughter and May 81,684 2 931.6% 6 125 King & Wood Mallesons 81,604 3 105879% 7 42 Ashurst 81,220 3 2,610.0% 8 59 Pinheiro Neto Advogados 81,174 2 11,597% 9 - Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados 81,154 1-10 17 Simpson Thacher & Bartlett 32,292 4 88% 11 25 Houthoff Buruma 19,891 16 109.6% 12 39 White & Case 18,918 11 474.8% 13 21 17,694 8 30.7% 14 4 Sullivan & Cromwell 16,920 3-43.4% 15 24 Linklaters 16,852 13 50.7% 1 2 Allen & Overy 105,483 32 6 2 1 Loyens & Loeff 6,289 29-3 3 9 De Brauw Blackstone Westbroek 107,797 28 11 4 5 Stibbe 4,121 21 2 5 7 Houthoff Buruma 19,891 16-2 6 8 Clifford Chance 5,142 16-1 7 3 DLA Piper 799 15-11 8 6 Linklaters 16,852 13-6 9 12 Freshfields Bruckhaus Deringer 87,116 12-3 10 13 White & Case 18,918 11-2 11 10 NautaDutilh 4,999 11-5 12 11 Baker & McKenzie 4,872 11-5 13 33 AKD lawyers & civil law notaries 23 11 7 14 14 De Breij Evers Boon 9 10-2 15 24 17,694 8 3 Global and regional M&A: 19

Europe Spain by deal value Rank Company name Spain by deal count Rank Company name 1 8 Linklaters 22,776 14 337% 2 1 Freshfields Bruckhaus Deringer 19,348 4-18.7% 3 38 Herbert Smith Freehills 17,840 3 2,868% 4 39 Baker & McKenzie 16,358 6 2,626% 5 9 White & Case 7,769 3 54.5% 6 24 Latham & Watkins 6,669 4 540.0% 7 - Cravath, Swaine & Moore 6,631 2-8 2 Uria Menendez 6,291 20-65.3% 9 12 Allen & Overy 5,493 10 36% 10= - Baker Botts 4,678 1-10= 34 Sullivan & Cromwell 4,678 1 520.4% 10= - Wiggin & Dana 4,678 1-13 3 Clifford Chance 2,544 4-85.6% 14 - De Brauw Blackstone Westbroek 2,159 2-15 - Slaughter and May 2,076 2-1 2 Cuatrecasas, Goncalves Pereira 791 24-2 2 1 Uria Menendez 6,291 20-6 3 12 Linklaters 22,776 14 7 4 3 Garrigues 1,766 13-10 5 4 Deloitte Legal 900 13-4 6 13 Allen & Overy 5,493 10 3 7 15 Gomez-Acebo & Pombo Abogados 182 9 2 8 11 DLA Piper 259 8-1 9 7 PwC legal 151 7-7 10 10 Baker & McKenzie 16,358 6-4 11 24 Jones Day 220 6 3 12 19 Ramon & Cajal 216 5 2 13 8 KPMG Abogados 187 5-7 14 5 Freshfields Bruckhaus Deringer 19,348 4-11 15 20 Latham & Watkins 6,669 4 1 Iberia by deal value Rank Company name Iberia by deal count Rank Company name 1 14 Linklaters 23,643 15 339.5% 2 1 Freshfields Bruckhaus Deringer 19,348 4-18.7% 3 26 Herbert Smith Freehills 17,840 3 787.1% 4 44 Baker & McKenzie 16,358 6 2,626% 5 5 White & Case 7,769 3-55.4% 6 30 Latham & Watkins 6,669 4 540% 7 - Cravath, Swaine & Moore 6,631 2-8 3 Uria Menendez 6,342 21-65.0% 9 16 Allen & Overy 5,544 11 37% 10= - Baker Botts 4,678 1-10= 40 Sullivan & Cromwell 4,678 1 520.4% 10= - Wiggin & Dana 4,678 1-13 4 Clifford Chance 2,544 4-85.6% 14 - De Brauw Blackstone Westbroek 2,159 2-15 - Slaughter and May 2,127 3-1 1 Cuatrecasas, Goncalves Pereira 1,518 26-4 2 2 Uria Menendez 6,342 21-8 3 9 Linklaters 23,643 15 4 4 3 Garrigues 1,835 15-10 5 4 Deloitte Legal 900 13-4 6 13 Allen & Overy 5,544 11 3 7 15 Gomez-Acebo & Pombo Abogados 182 9 2 8 11 DLA Piper 259 8-2 9 7 PwC legal 151 7-7 10 12 Baker & McKenzie 16,358 6-4 11 28 Jones Day 220 6 3 12 22 Ramon & Cajal 216 5 2 13 8 KPMG Abogados 187 5-7 14 5 Freshfields Bruckhaus Deringer 19,348 4-11 15 24 Latham & Watkins 6,669 4 1 Global and regional M&A: 20

Europe Italy by deal value Rank Company name Italy by deal count Rank Company name 1 21 Gianni, Origoni, Grippo, Cappelli & Partners 15,833 25 964% 2 11 Bonelli Erede Pappalardo 11,044 12 500.9% 3 13 Latham & Watkins 9,037 7 422.7% 4 20 Chiomenti Studio Legale 8,659 25 445.6% 5 7 Clifford Chance 7,578 9 197.8% 6 12 Pedersoli e Associati 7,534 13 311.5% 7 27 Freshfields Bruckhaus Deringer 6,864 3 912% 8 6 Studio Legale Lombardi Molinari Segni 6,543 9 120.9% 9 - JunHe 6,537 1-10 - Slaughter and May 4,671 2-11 23 Linklaters 4,136 9 243.8% 12= 15 Homburger 3,896 1 125.3% 12= 19 Wachtell, Lipton, Rosen & Katz 3,896 1 125.3% 14 37 Legance Avvocati Associati 3,181 11 504.8% 15 43 Grimaldi Studio Legale 2,629 3 762.0% 1 2 Gianni, Origoni, Grippo, Cappelli & Partners 15,833 25 8 2 1 Chiomenti Studio Legale 8,659 25 8 3 4 NCTM Studio Legale Associato 536 18 4 4 3 Pedersoli e Associati 7,534 13-1 5 8 Bonelli Erede Pappalardo 11,044 12 1 6 10 Legance Avvocati Associati 3,181 11 2 Gattai Minoli Agostinelli & 7 6 2,472 11-2 Partners d'urso Gatti e Bianchi - Studio 8 5 2,172 10-3 Legale Associato 9 11 Clifford Chance 7,578 9 1 10 21 Studio Legale Lombardi Molinari Segni 6,543 9 5 11 16 Linklaters 4,136 9 4 12 7 DLA Piper 213 8-5 13 36 Latham & Watkins 9,037 7 5 14 33 Jones Day 1,124 7 4 15 20 Pirola Pennuto Zei & Associati 73 7 2 Denmark by deal value Rank Company name Denmark by deal count Rank Company name 1 2 Gorrissen Federspiel 5,358 18-20.6% 2 17 Kromann Reumert 5,174 20 589.9% 3 1 Bech-Brn 1,163 31-85% 4 6 Accura 823 18-72.1% 5 14 Plesner 599 19-58.3% 6 3 Brn & Hjejle 312 9-93.6% 7 73 Jones Day 285 1-8 29 LETT Law Firm 262 14-3.7% 9 72 Gernandt & Danielsson 259 1-10 - White & Case 227 3-11= - Freshfields Bruckhaus Deringer 227 1-11= 12 Wiersholm 227 1-91.6% 13 - Latham & Watkins 214 3-14 5 Weil Gotshal & Manges 214 1-94.1% 15 - Holst, Law Firm 124 1-1 1 Bech-Brn 1,163 31 0 2 2 Kromann Reumert 5,174 20-8 3 6 Ronne & Lundgren 82 20 1 4 5 Plesner 599 19 0 5 4 Gorrissen Federspiel 5,358 18-3 6 3 Accura 823 18-4 7 9 LETT Law Firm 262 14 5 8 7 Brn & Hjejle 312 9-3 9 8 Moalem Weitemeyer Bendtsen 74 7-3 10 27 Horten Law Firm - 4 2 11 - White & Case 227 3-12 - Latham & Watkins 214 3-13 - Mazanti-Andersen, Korso Jensen & Partnere 85 3-14 24 CMS 18 3 1 15 15 Schjodt - 3-1 Global and regional M&A: 21

Europe Finland by deal value Rank Company name Finland by deal count Rank Company name 1 3 Roschier 16,631 14 368.7% 2 34 Dittmar & Indrenius 15,503 7-3= - Fangda Partners 15,285 1-3= - Latham & Watkins 15,285 1-3= - 15,285 1-3= - Sullivan & Cromwell 15,285 1-3= - Wachtell, Lipton, Rosen & Katz 15,285 1-8 6 Vinge 7,291 5 189% 9 8 Avance Attorneys 6,994 11 543.4% 10 5 Mannheimer Swartling 6,994 2 163.7% 11 - Linklaters 6,994 1-12 - Torys 3,934 2-13 10 Thommessen 1,625 2 246.5% 14 15 BA-HR 1,625 1 609.6% 15 - Hammarskiold & Co 1,224 1-1 5 Roschier 16,631 14 1 2 1 Hannes Snellman 552 13-2 3 3 Castren & Snellman 87 12-2 4 2 Krogerus 63 12-3 5 7 Avance Attorneys 6,994 11 5 6 9 Dittmar & Indrenius 15,503 7 2 7 4 Borenius Attorneys - 7-7 8 6 Bird & Bird 107 6-2 9 10 Vinge 7,291 5 1 10 8 White & Case 1,085 4-1 11 - Weil Gotshal & Manges 57 3-12 12 Mannheimer Swartling 6,994 2-1 13 - Torys 3,934 2-14 13 Thommessen 1,625 2-1 15 - Wistrand 874 2 - Norway by deal value Rank Company name Norway by deal count Rank Company name 1 4 Thommessen 1,736 11-62.9% 2 1 BA-HR 1,652 8-78.9% 3 8 Wiersholm 747 21-78% 4 - Plesner 658 5-5 3 Arntzen de Besche 602 6-87.6% 6 29 Roschier 577 6 168.4% 7 9 Selmer 383 12-85.8% 8 20 Vinge 293 3-58.6% 9 24 Mannheimer Swartling 290 3-36.8% 10-284 1-11 6 White & Case 282 3-92.6% 12= - Anjarwalla & Khanna Advocates 257 1-12= 69 Norton Rose Fulbright 257 1-14 - Baumgarten Bystrom Rooth & Tallavaara Advokater 248 1-15 84 LETT Law Firm 227 4-1 1 Schjodt 134 22-5 2 2 Wiersholm 747 21-6 3 5 Selmer 383 12-5 4 3 Thommessen 1,736 11-11 5 4 Wikborg Rein & Co 93 9-13 6 6 BA-HR 1,652 8-7 7 16 Advokatfirmaet Simonsen Vogt Wiig - 8 3 8 7 Arntzen de Besche 602 6-3 9 11 Roschier 577 6 0 10 - Plesner 658 5-11 84 LETT Law Firm 227 4 3 12 8 Advokatfirmaet Haavind 122 4-4 13 9 Kluge Advokatfirma - 4-4 14 14 Vinge 293 3-2 15 10 Mannheimer Swartling 290 3-3 Global and regional M&A: 22

Europe Sweden by deal value Rank Company name Sweden by deal count Rank Company name 1 1 Mannheimer Swartling 11,269 24-23.6% 2 2 Vinge 8,639 29-41.4% 3 4 Linklaters 7,338 6-23.6% 4 18 Avance Attorneys 7,051 8 605.8% 5 - Torys 3,497 1-6 13 Gernandt & Danielsson 3,165 9 143.6% 7 26 Freshfields Bruckhaus Deringer 2,780 3 308.2% 8 40 Hannes Snellman 1,349 17 484.0% 9 3 Roschier 1,321 14-88.8% 10 8 Hammarskiold & Co 1,224 1-86.6% 11 30 Wistrand 874 14 119.6% 12 14 Wiersholm 827 6-35.9% 13 42 Cederquist 735 9 234.1% 14 29 Allen & Overy 619 5 10.5% 15= 12 BA-HR 543 2-75.0% 1 1 Vinge 8,639 29-19 2 2 Mannheimer Swartling 11,269 24-20 3 6 Hannes Snellman 1,349 17 3 4 7 Roschier 1,321 14 1 5 5 Wistrand 874 14-1 6 3 Advokatfirman Lindahl 11 10-9 7 4 Gernandt & Danielsson 3,165 9-9 8 17 Cederquist 735 9 3 9 39 Avance Attorneys 7,051 8 6 10 13 Delphi 90 8-1 11 26 Setterwalls 318 7 3 12 25 Selmer 305 7 3 13 8 White & Case 265 7-5 14 10 Schjodt 63 7-4 15 19 Linklaters 7,338 6 1 15= - Hansen Law 543 2 - Nordics by deal value Rank Company name Nordics by deal count Rank Company name 1 1 Roschier 17,604 23 12.4% 2 39 Dittmar & Indrenius 16,046 8 1,120.2% 3 92 15,569 5 9,058% 4 41 Latham & Watkins 15,499 5 1,201% 5= - Fangda Partners 15,285 1-5= 8 Sullivan & Cromwell 15,285 1 67.1% 5= - Wachtell, Lipton, Rosen & Katz 15,285 1-8 2 Mannheimer Swartling 11,269 24-27.2% 9 3 Vinge 8,639 29-41.8% 10 4 Linklaters 7,399 7-49.3% 11 42 Avance Attorneys 7,051 13 548.7% 12 13 Gorrissen Federspiel 5,576 21-27.6% 13 51 Kromann Reumert 5,174 21 589.9% 14 - Torys 3,934 2-15 28 Gernandt & Danielsson 3,165 9 21.1% 1 3 Bech-Brn 1,163 33 1 2 1 Vinge 8,639 29-20 3 2 Mannheimer Swartling 11,269 24-24 4 8 Hannes Snellman 1,817 24-2 5 4 Schjodt 134 24-7 6 7 Roschier 17,604 23-3 7 5 Wiersholm 1,290 23-7 8 10 Gorrissen Federspiel 5,576 21-1 9 6 Kromann Reumert 5,174 21-7 10 16 Plesner 847 21 2 11 17 Ronne & Lundgren 139 21 2 12 9 Accura 823 19-6 13 15 White & Case 1,577 15-4 14 33 LETT Law Firm 262 15 6 15 23 Wistrand 874 14-1 Global and regional M&A: 23

Europe Turkey by deal value Rank Company name Turkey by deal count Rank Company name 1 - Stibbe 821 2-2= - Gide Loyrette Nouel 786 1-2= 41 White & Case 786 1-4 6 Herguner Bilgen Ozeke 654 5 244.2% 5 4 Balcioglu Selcuk Akman Keki 589 5 97.7% 6= 34 Gleiss Lutz 589 1-6= - GLNS Rechtsanwaelte Steuerberater Partnerschaft 589 1-6= - King & Spalding 589 1-6= - Paul Weiss Rifkind Wharton & Garrison 589 1-10 - Shearman & Sterling 385 1-11= - Cetinkaya Avukatlik Ortakligi 281 1-11= 5 Yegin Ciftci Attorney Partnership (YCAP) 281 1 37.1% 13 7 Gen & Temizer Ozer 188 3 0.0% 14 11 YukselKarkinKucuk Law Firm 156 9-7.7% 15 12 Baker & McKenzie 135 4-2.9% 1 1 YukselKarkinKucuk Law Firm 156 9-4 2 3 Herguner Bilgen Ozeke 654 5-3 3 5 Balcioglu Selcuk Akman Keki 589 5 0 4 2 Baker & McKenzie 135 4-5 5 - Kolcuoglu Demirkan Kocakli Attorneys at Law - 4-6 7 Gen & Temizer Ozer 188 3 0 7 - Stibbe 821 2-8 - Egemenoglu Law Firm 31 2-9 6 Paksoy Attorneys at Law - 2-3 10= - Gide Loyrette Nouel 786 1-10= 41 White & Case 786 1 0 12= 34 Gleiss Lutz 589 1 0 12= - GLNS Rechtsanwaelte Steuerberater Partnerschaft 589 1-12= - King & Spalding 589 1-12= - Paul Weiss Rifkind Wharton & Garrison 589 1 - CEE by deal value Rank Company name CEE by deal count Rank Company name 1 7 Linklaters 3,189 7 94.9% 2 3 Clifford Chance 2,268 3 0.4% 3 45 Allen & Overy 2,077 10 1,394% 4 5 Weil Gotshal & Manges 1,997 8 11.3% 5 10 De Brauw Blackstone Westbroek 1,947 2 53.8% 6 - Vinson & Elkins 1,529 2-7 89 1,474 2-8= - Appleby 1,474 1-8= - Maples & Calder 1,474 1-10= 4 BBH, advokatni kancelar 1,440 1-22% 10= - Bonelli Erede Pappalardo 1,440 1-10= - Ploum Lodder Princen OWA 1,440 1-13 25 Wolf Theiss 1,412 5 328% 14 - Loyens & Loeff 1,374 2-15 13 Baker & McKenzie 1,196 3 37.9% 1 12 Havel, Holasek & Partners 24 12 4 2 5 Allen & Overy 2,077 10-2 3 1 White & Case 1,122 10-13 4 4 CMS 534 10-2 5 7 Weil Gotshal & Manges 1,997 8-2 6 9 Schoenherr Rechtsanwaelte 518 8-2 7 15 Linklaters 3,189 7 1 8 2 DLA Piper 55 6-8 9 19 Wolf Theiss 1,412 5 0 10 11 Dentons 1,173 5-3 11 3 SORAINEN 80 5-9 12 8 Raidla Lejins & Norcous 87 4-6 13 6 Clifford Chance 2,268 3-7 14 24 Baker & McKenzie 1,196 3-1 15 20 Domanski Zakrzewski Palinka 1,127 3-2 Global and regional M&A: 24

Europe Poland by deal value Rank Company name Poland by deal count Rank Company name 1 1 Weil Gotshal & Manges 1,997 8 130.1% 2 14 Clifford Chance 1,243 2 1,938% 3 11 Domanski Zakrzewski Palinka 1,127 3 1,258% 4= - Latham & Watkins 1,116 1-4= - Loyens & Loeff 1,116 1-4= - Orrick Herrington & Sutcliffe 1,116 1-7 17 Allen & Overy 603 6 2,133% 8 24 Dentons 569 3 5,590% 9 9 Soltysinski Kawecki & Szlezak 459 3 270.2% 10 2 White & Case 432 3-36% 11 - Studio Legale Lombardi Molinari Segni 432 1-12 3 Linklaters 230 4-53.4% 13 - Greenberg Traurig 79 2-14 6 SORAINEN 61 2-83.5% 15= - Raidla Lejins & Norcous 61 1-1 1 Weil Gotshal & Manges 1,997 8 3 2 13 Allen & Overy 603 6 4 3 3 Linklaters 230 4 0 4 5 CMS 18 4 0 5 2 Domanski Zakrzewski Palinka 1,127 3-2 6 10 Dentons 569 3 0 7 17 Soltysinski Kawecki & Szlezak 459 3 2 8 14 White & Case 432 3 2 9 20 WKB Wiercinski, Kwiecinski, Baehr 14 3 2 10 8 Clifford Chance 1,243 2-1 11 - Greenberg Traurig 79 2-12 7 SORAINEN 61 2-1 13 36 Squire Patton Boggs 18 2 1 14 29 Deloitte Legal 12 2 1 15 - Kubicki Komosa Imielowski 6 2-15= - Wiersholm 61 1 - Russia by deal value Rank Company name Russia by deal count Rank Company name 1 - Vinson & Elkins 1,529 2-2 45 1,474 2-3= 32 Allen & Overy 1,474 1 1,676% 3= - Appleby 1,474 1-3= 6 Linklaters 1,474 1 41.6% 3= - Maples & Calder 1,474 1-7 28 Norton Rose Fulbright 750 1 546.6% 8= 4 Akin Gump Strauss Hauer & Feld 150 1-89.9% 8= 2 Herbert Smith Freehills 150 1-94.2% 8= - Osborne Clarke 150 1-11 56 King & Spalding 55 1-12 - Dacheng Law Offices 49 1-13 1 White & Case 28 2-99.4% 14 44 Morgan Lewis & Bockius 22 1-15 5 DLA Piper 10 4-99.3% 1 3 DLA Piper 10 4-3 2 - Vinson & Elkins 1,529 2-3 21 1,474 2 0 4 1 White & Case 28 2-9 5 40 Dechert 5 2 1 6 44 Sayenko Kharenko - 2 1 7= 12 Allen & Overy 1,474 1-2 7= - Appleby 1,474 1-7= 22 Linklaters 1,474 1 0 7= - Maples & Calder 1,474 1-11 19 Norton Rose Fulbright 750 1-1 12= 5 Akin Gump Strauss Hauer & Feld 150 1-3 12= 2 Herbert Smith Freehills 150 1-6 12= - Osborne Clarke 150 1-15 56 King & Spalding 55 1 0 Global and regional M&A: 25

Americas Americas by deal value Rank Company name Americas by deal count Rank Company name 1 1 284,925 93-13.3% 2 8 Latham & Watkins 252,110 101 85.7% 3 3 Sullivan & Cromwell 241,950 52-0.9% 4 13 Kirkland & Ellis 230,276 135 102.3% 5 7 Davis Polk & Wardwell 209,507 51 50.6% 6 6 White & Case 185,998 72 3.7% 7 22 Fried Frank Harris Shriver & Jacobson 181,825 38 159.9% 8 9 Wachtell, Lipton, Rosen & Katz 167,148 45 34.3% 9 10 Paul Weiss Rifkind Wharton & Garrison 138,160 50 12.5% 10 30 Cravath, Swaine & Moore 123,328 39 147.0% 11 2 Simpson Thacher & Bartlett 115,967 39-54.6% 12 45 Gibson Dunn & Crutcher 99,958 44 325.3% 13 46 DLA Piper 96,236 91 319.5% 14 62 McCarthy Tetrault 86,497 33 487.7% 15 25 Davies Ward Phillips & Vineberg 83,210 21 35.0% 1 1 Kirkland & Ellis 230,276 135-42 2 3 Jones Day 29,978 117-16 3 2 Latham & Watkins 252,110 101-55 4 5 284,925 93 1 5 4 DLA Piper 96,236 91-24 6 12 Stikeman Elliott 20,187 76 3 7 10 White & Case 185,998 72-2 8 7 Weil Gotshal & Manges 78,048 67-16 9 19 Goodwin Procter 33,739 61 3 10 14 Fenwick & West 4,810 59-11 11 16 Morgan Lewis & Bockius 12,488 56-9 12 23 Sullivan & Cromwell 241,950 52-1 13 24 Davis Polk & Wardwell 209,507 51-2 14 18 Paul Weiss Rifkind Wharton & Garrison 138,160 50-9 15 17 Ropes & Gray 60,889 49-12 US by deal value Rank Company name US by deal count Rank Company name 1 1 270,763 87-14.4% 2 7 Latham & Watkins 252,110 101 86.4% 3 3 Sullivan & Cromwell 235,813 48-0.8% 4 12 Kirkland & Ellis 230,276 135 102.3% 5 8 Davis Polk & Wardwell 204,241 49 55.9% 6 6 White & Case 185,620 67 21.2% 7 21 Fried Frank Harris Shriver & Jacobson 181,825 38 179.5% 8 9 Wachtell, Lipton, Rosen & Katz 167,148 45 40.5% 9 10 Paul Weiss Rifkind Wharton & Garrison 135,163 46 16.4% 10 30 Cravath, Swaine & Moore 121,573 38 145.8% 11 2 Simpson Thacher & Bartlett 110,701 38-54.0% 12 42 Gibson Dunn & Crutcher 99,858 43 324.9% 13 44 DLA Piper 95,797 88 317.6% 14 26 Davies Ward Phillips & Vineberg 80,809 14 47.0% 15 5 Cleary Gottlieb Steen & Hamilton 74,430 38-60.5% 1 1 Kirkland & Ellis 230,276 135-42 2 3 Jones Day 29,925 113-12 3 2 Latham & Watkins 252,110 101-49 4 4 DLA Piper 95,797 88-25 5 6 270,763 87 4 6 14 White & Case 185,620 67 3 7 7 Weil Gotshal & Manges 74,120 66-17 8 16 Goodwin Procter 33,739 61 3 9 10 Fenwick & West 4,810 59-11 10 13 Morgan Lewis & Bockius 10,835 55-10 11 21 Davis Polk & Wardwell 204,241 49 0 12 15 Ropes & Gray 60,889 49-11 13 20 Sullivan & Cromwell 235,813 48-1 14 38 Stikeman Elliott 12,050 47 13 15 17 Paul Weiss Rifkind Wharton & Garrison 135,163 46-8 Global and regional M&A: 26

Americas US *buyouts by deal value Rank Company name US *buyouts by deal count Rank Company name 1 6 Ropes & Gray 9,726 21 73.4% 2 1 Kirkland & Ellis 7,662 49-54.1% 3 29 Fried Frank Harris Shriver & Jacobson 6,925 6 398.9% 4 25 Davis Polk & Wardwell 6,640 4 318.1% 5 - Orrick Herrington & Sutcliffe 5,725 2-6 2 Latham & Watkins 4,560 5-66.1% 7 10 Cleary Gottlieb Steen & Hamilton 3,453 2-23.2% 8 3 Simpson Thacher & Bartlett 2,606 7-75.8% 9 22 Stibbe 2,580 1 43.3% 10 19 Torys 2,441 4 35.6% Paul Weiss Rifkind Wharton & 11 16 2,240 11-20.2% Garrison 12 23 2,227 6 30.3% 13 48 White & Case 2,218 7 454.5% 14 8 Weil Gotshal & Manges 1,935 15-59.8% 15 40 Morgan Lewis & Bockius 1,908 10 248.8% 1 1 Kirkland & Ellis 7,662 49-4 2 6 Ropes & Gray 9,726 21 10 3 4 Weil Gotshal & Manges 1,935 15 3 4 9 Jones Day 250 13 3 5 7 Paul Weiss Rifkind Wharton & Garrison 2,240 11 0 6 14 Winston & Strawn 54 11 3 7 5 Morgan Lewis & Bockius 1,908 10-2 8 8 Simpson Thacher & Bartlett 2,606 7-3 9 47 White & Case 2,218 7 5 10 11 Dechert 1,055 7-2 11 10 Willkie Farr & Gallagher 1,009 7-2 Fried Frank Harris Shriver & 12 18 6,925 6 0 Jacobson 13 22 2,227 6 1 14 13 Goodwin Procter 460 6-3 15 3 O'Melveny & Myers 329 6-8 *Based on advisors to bidder on buyout deals only with the target domininant geography being US Canada by deal value Canada by deal count Rank Company name Rank Company name 1 1 Osler, Hoskin & Harcourt 59,979 42-9.4% 2 6 Norton Rose Fulbright 36,576 20 88.9% 3 7 Torys 32,156 23 72.9% 4 8 McCarthy Tetrault 31,985 30 136.4% 5 41 Debevoise & Plimpton 27,131 4 1,316% 6 26 Cadwalader, Wickersham & Taft 26,500 2 506.5% 7 17 Dentons 25,010 6 323.0% 8 4 Sullivan & Cromwell 23,035 7-50% 9 61 Willkie Farr & Gallagher 19,032 6 1,296% 10 5 Stikeman Elliott 17,940 65-26.0% 11 3 Blake, Cassels & Graydon 17,482 29-70% 12 2 16,125 6-73.3% 13 - Covington & Burling 14,500 1-14 33 Linklaters 13,183 4 384.5% 15 60 Davis Polk & Wardwell 12,932 6 801.8% 1 1 Stikeman Elliott 17,940 65 4 2 4 Osler, Hoskin & Harcourt 59,979 42 7 3 2 McCarthy Tetrault 31,985 30-25 4 3 Blake, Cassels & Graydon 17,482 29-12 5 8 Borden Ladner Gervais 1,946 24 4 6 7 Torys 32,156 23-5 7 5 Norton Rose Fulbright 36,576 20-15 8 6 Gowling Lafleur Henderson 1,718 19-16 9 9 Davies Ward Phillips & Vineberg 5,285 17 0 10 11 Bennett Jones 932 15 0 11 10 Fasken Martineau Dumoulin 3,302 13-3 12 17 Goodmans 1,660 13 1 13 13 Cassels Brock & Blackwell 2,449 12-2 14 39 Weil Gotshal & Manges 10,675 10 6 15 21 Paul Weiss Rifkind Wharton & Garrison 6,303 10 1 Global and regional M&A: 27

Americas US North East by deal value Rank Company name US North East by deal count Rank Company name 1 9 Kirkland & Ellis 190,309 79 288.1% 2 2 154,180 39 9.5% Fried Frank Harris Shriver & 3 10 138,370 26 206.9% Jacobson 4 4 White & Case 133,136 33 35.4% 5 12 Wachtell, Lipton, Rosen & Katz 126,876 24 218.3% 6 5 Davis Polk & Wardwell 109,744 27 27.7% 7 11 Sullivan & Cromwell 108,093 28 151.5% 8 7 Latham & Watkins 105,472 46 69.3% 9 3 Paul Weiss Rifkind Wharton & Garrison 96,662 32-4.9% 10 28 DLA Piper 94,834 40 439.6% 11 23 Cravath, Swaine & Moore 88,995 22 259.8% 12 - Davies Ward Phillips & Vineberg 77,549 5-13 186 McCarthy Tetrault 55,515 6 11,253% 14 1 Simpson Thacher & Bartlett 44,073 20-70.9% 15 24 Ropes & Gray 42,904 28 83.0% 1 1 Kirkland & Ellis 190,309 79-15 2 3 Latham & Watkins 105,472 46-23 3 2 Jones Day 7,943 43-27 4 8 DLA Piper 94,834 40 4 5 9 Goodwin Procter 6,685 40 4 6 7 154,180 39 3 7 4 Weil Gotshal & Manges 42,022 38-5 8 11 White & Case 133,136 33 3 9 6 Paul Weiss Rifkind Wharton & Garrison 96,662 32-8 10 16 Sullivan & Cromwell 108,093 28 3 11 10 Ropes & Gray 42,904 28-6 12 12 Morgan Lewis & Bockius 9,380 28-2 13 13 Davis Polk & Wardwell 109,744 27-1 14 19 Fried Frank Harris Shriver & Jacobson 138,370 26 3 15 20 Dechert 20,792 26 3 US Mid West by deal value Rank Company name US Mid West by deal count Rank Company name 1 15 Davis Polk & Wardwell 112,811 14 251.4% 2 5 Kirkland & Ellis 99,065 56 58.4% 3 3 Sullivan & Cromwell 90,884 10 29% 4 7 Davies Ward Phillips & Vineberg 71,245 4 44.5% 5 21 Cravath, Swaine & Moore 65,923 9 284.5% 6 30 Latham & Watkins 64,767 25 479.1% 7 77 McCarthy Tetrault 54,672 7 3,214% 8 14 White & Case 46,892 9 2.2% 9 6 Wachtell, Lipton, Rosen & Katz 34,545 11-41.1% 10 20 Sidley Austin 34,433 21 90.0% 11 18 Ropes & Gray 34,301 17 48.6% 12 1 32,021 22-72.0% 13 44 Cadwalader, Wickersham & Taft 28,323 2 424.5% 14 24 Simpson Thacher & Bartlett 23,634 8 61.7% 15 2 Cleary Gottlieb Steen & Hamilton 22,308 12-74% 1 1 Kirkland & Ellis 99,065 56-15 2 2 Jones Day 12,305 42 6 3 3 Latham & Watkins 64,767 25-6 4 5 32,021 22-6 5 6 Sidley Austin 34,433 21-7 6 17 Dorsey & Whitney 2,062 20 4 7 8 Weil Gotshal & Manges 6,866 18-5 8 22 Ropes & Gray 34,301 17 3 9 37 Goodwin Procter 21,514 15 5 10 44 Davis Polk & Wardwell 112,811 14 6 11 7 DLA Piper 712 14-13 12 27 Hogan Lovells International 3,839 13 1 13 38 Cleary Gottlieb Steen & Hamilton 22,308 12 3 14 49 Honigman Miller Schwartz & Cohn 933 12 4 15 25 Bryan Cave 382 12-1 Global and regional M&A: 28

Americas US South by deal value Rank Company name US South by deal count Rank Company name 1 12 101,336 32 140.1% 2 4 Simpson Thacher & Bartlett 74,673 15-6.4% 3 2 Sullivan & Cromwell 49,242 18-48.4% 4 14 Baker Botts 47,397 25 63.2% 5 3 Debevoise & Plimpton 43,626 20-45.6% 6 24 Gibson Dunn & Crutcher 42,468 13 190.4% 7 10 Latham & Watkins 42,010 37-15.6% 8 7 Cleary Gottlieb Steen & Hamilton 40,093 15-48.2% 9 16 White & Case 35,857 27 40.4% 10 11 Kirkland & Ellis 34,328 57-20.9% 11 6 Shearman & Sterling 32,678 10-57.9% 12 19 Fried Frank Harris Shriver & Jacobson 29,199 16 42.2% 13 15 Cravath, Swaine & Moore 29,117 14 7.2% 14 1 Weil Gotshal & Manges 25,614 17-74.5% 15 48 Osler, Hoskin & Harcourt 23,650 10 407.3% 1 1 Kirkland & Ellis 34,328 57-25 2 4 Jones Day 16,112 49 0 3 2 Latham & Watkins 42,010 37-18 4 3 DLA Piper 3,090 33-22 5 7 101,336 32 3 6 8 White & Case 35,857 27-1 7 14 Haynes and Boone 982 27 4 8 16 King & Spalding 15,813 26 4 9 13 Baker Botts 47,397 25 2 10 5 Vinson & Elkins 13,512 23-24 11 22 Norton Rose Fulbright 13,685 22 2 12 57 Debevoise & Plimpton 43,626 20 10 13 48 Goodwin Procter 4,528 20 8 14 18 Cooley 1,381 20-1 15 32 Wachtell, Lipton, Rosen & Katz 16,203 19 2 US West by deal value Rank Company name US West by deal count Rank Company name 1 36 Davis Polk & Wardwell 102,828 23 1,644% 2 8 Latham & Watkins 87,043 48 19.4% 3 1 Sullivan & Cromwell 74,917 15-41.2% 4 4 60,488 31-27.6% 5 22 Wilson Sonsini Goodrich & Rosati 55,390 40 435.9% 6 70 Fried Frank Harris Shriver & Jacobson 40,494 7 2,120% 7 16 Wachtell, Lipton, Rosen & Katz 38,458 18 107.5% 8 26 Paul Weiss Rifkind Wharton & Garrison 36,833 10 296.8% 9 262 WongPartnership 35,766 2 210288% 10 27 Goodwin Procter 29,854 28 225% 11 30 Gibson Dunn & Crutcher 29,456 21 245.2% 12 2 Weil Gotshal & Manges 26,735 31-74.9% 13 14 Kirkland & Ellis 18,867 45-20.0% 14 3 Simpson Thacher & Bartlett 15,938 14-83.2% 15 21 Freshfields Bruckhaus Deringer 15,539 6 45.3% 1 3 Fenwick & West 4,400 55-12 2 2 Latham & Watkins 87,043 48-23 3 5 Kirkland & Ellis 18,867 45-18 4 4 Wilson Sonsini Goodrich & Rosati 55,390 40-27 5 7 DLA Piper 4,451 34-11 6 6 Cooley 6,247 33-21 7 12 60,488 31 3 8 8 Weil Gotshal & Manges 26,735 31-5 9 17 Morgan Lewis & Bockius 5,732 29 2 10 10 Goodwin Procter 29,854 28-3 11 9 Jones Day 2,690 26-8 12 1 O'Melveny & Myers 2,196 26-47 13 13 Gunderson Dettmer Stough Villeneuve Franklin & Hachigian 1,332 26-2 14 26 Davis Polk & Wardwell 102,828 23 8 15 16 Gibson Dunn & Crutcher 29,456 21-6 Global and regional M&A: 29

Americas C&S America by deal value Rank Company name C&S America by deal count Rank Company name 1 182 Ulhoa Canto, Rezende e Guerra - Advogados 3,565 1 59317% 2 97 Galicia Abogados 2,814 5 946.1% 3 - Santamarina y Steta 2,707 2-4 3 Simpson Thacher & Bartlett 2,420 2-84.4% Creel, Garcia-Cuellar, Aiza y 5 18 2,327 8-63.7% Enriquez Mattos Filho, Veiga Filho, Marrey 6 11 2,201 11-70% Jr. e Quiroga Advogados 7= 17 Cleary Gottlieb Steen & Hamilton 2,150 1-68% 7= - Fried Frank Harris Shriver & Jacobson 2,150 1-9 94 Jones Day 1,960 7 536% 10 8 Sullivan & Cromwell 1,875 2-82.6% 11 - Kramer Levin Naftalis & Frankel 1,875 1-12 2 Barbosa, Mussnich & Aragao 1,650 11-92.7% 13 45 Mijares Angoitia Cortes y Fuentes 1,510 5-10.5% 14 19 Freshfields Bruckhaus Deringer 1,507 1-76.4% 15 9 Linklaters 1,412 3-83.4% 1 3 Pinheiro Neto Advogados 613 16 0 2 1 Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados 2,201 11-6 3 4 Barbosa, Mussnich & Aragao 1,650 11-4 4 2 Machado Meyer Sendacz e Opice 764 11-6 5 10 Creel, Garcia-Cuellar, Aiza y Enriquez 2,327 8-1 6 11 Demarest 1,156 8-1 7 8 Souza, Cescon, Barrieu & Flesch Advogados 660 8-2 8 19 Jones Day 1,960 7 0 9 32 Rodrigo Elias & Medrano 54 7 3 10 15 999 6-1 11 47 Azevedo Sette Advogados - 6 3 12 48 Galicia Abogados 2,814 5 2 13 13 Mijares Angoitia Cortes y Fuentes 1,510 5-3 14 36 Clifford Chance 603 5 2 15 7 White & Case 378 5-8 Global and regional M&A: 30

Asia-Pacific Asia-Pacific (excl. Japan) by deal value Rank Company name Asia-Pacific (excl. Japan) by deal count Rank Company name 1 1 Freshfields Bruckhaus Deringer 120,172 19 57.2% 2 5 Linklaters 99,518 24 263.2% 3 97 Commerce and Finance Law Offices 77,382 6 5,153% 4 84 Guantao Law Firm 76,235 3 3,846% 5 - Woo Kwan Lee & Lo 75,608 2-6 14 51,498 23 253% 7 7 Herbert Smith Freehills 47,283 37 82.8% 8 6 Kim & Chang 44,694 34 67.2% 9 71 Stikeman Elliott 42,927 6 1,595% 10 3 King & Wood Mallesons 28,950 48-25.3% 11 24 Bae Kim & Lee 28,565 22 195.3% 12 16 Lee & Ko 20,157 19 73.3% 13 21 Baker & McKenzie 19,334 28 89.5% 14 22 Slaughter and May 17,217 6 71.4% 15 17 Cleary Gottlieb Steen & Hamilton 15,108 8 35.9% 1 1 King & Wood Mallesons 28,950 48-22 2 2 Herbert Smith Freehills 47,283 37-16 3 3 Kim & Chang 44,694 34-17 4 23 AZB & Partners 3,780 32 9 5 4 Baker & McKenzie 19,334 28-18 6 9 Grandall Law Firm 14,076 25-9 7 12 Allens 12,465 25-4 8 17 Linklaters 99,518 24 0 9 22 51,498 23 0 10 15 Minter Ellison 11,085 23-2 11 29 Bae Kim & Lee 28,565 22 3 12 40 JunHe 12,122 21 6 13 13 Allen & Overy 8,266 21-8 14 25 Shin & Kim 4,900 21 0 15 6 Clifford Chance 14,802 20-17 A-Pac (excl. Japan) *buyouts by deal value Rank Company name A-Pac (excl. Japan) *buyouts by deal count Rank Company name 1 56 Yulchon 2,205 2 2,622.2% 2 6 Kim & Chang 2,069 5-40.1% 3 7 King & Wood Mallesons 1,852 3-46.2% 4 5 Fangda Partners 1,692 6-54.6% 5 86 Norton Rose Fulbright 1,672 2-6 - Haiwen & Partners 1,127 3-7 39 Linklaters 1,052 2 228.8% 8 45 Allens 1,050 1 370.9% 9 - Loyens & Loeff 1,000 1-10 37 AZB & Partners 988 7 195.8% 11= 16 Ashurst 917 1-33.9% 11= - HWL Ebsworth Lawyers 917 1-11= - Mayne Wetherell 917 1-14 47 Khaitan & Co 871 6 368.3% 15 31 Kirkland & Ellis 743 2 76.5% 1 6 AZB & Partners 988 7 0 2 1 Fangda Partners 1,692 6-7 3 55 Khaitan & Co 871 6 5 4 - Nishith Desai Associates 140 6-5 3 Kim & Chang 2,069 5-6 6 20 Shin & Kim 366 4 1 7 10 King & Wood Mallesons 1,852 3-1 8 - Haiwen & Partners 1,127 3-9 37 J Sagar Associates 439 3 1 10 73 Herbert Smith Freehills 123 3 2 11 34 Luthra & Luthra Law Offices 39 3 1 12 80 Tatva Legal 19 3 2 13 60 Yulchon 2,205 2 1 14 86 Norton Rose Fulbright 1,672 2 1 15 33 Linklaters 1,052 2 0 *Based on advisors to bidder on buyout deals only with the target domininant geography being Asia-Pacific (excl. Japan) Global and regional M&A: 31

Asia-Pacific Asia (excl. Japan, Australasia) by deal value Rank Company name Asia (excl. Japan, Australasia) by deal count Rank Company name 1 1 Freshfields Bruckhaus Deringer 120,172 19 59.1% 2 7 Linklaters 99,518 24 486.7% 3 77 Commerce and Finance Law Offices 77,382 6 5,153% 4 66 Guantao Law Firm 76,235 3 3,846% 5 - Woo Kwan Lee & Lo 75,608 2-6 11 49,082 22 303.8% 7 3 Kim & Chang 44,694 34 67.2% 8 65 Stikeman Elliott 41,581 4 2,017.2% 9 17 Bae Kim & Lee 28,565 22 195.3% 10 12 Lee & Ko 20,157 19 73.3% 11 32 Baker & McKenzie 18,903 21 201.3% 12 28 Herbert Smith Freehills 17,868 13 147.2% 13 6 King & Wood Mallesons 14,211 35-20.8% 14 29 Grandall Law Firm 14,076 25 105.5% 15 9 Davis Polk & Wardwell 13,315 10-10.7% 1 5 King & Wood Mallesons 14,211 35 3 2 1 Kim & Chang 44,694 34-17 3 15 AZB & Partners 3,780 32 9 4 4 Grandall Law Firm 14,076 25-9 5 16 Linklaters 99,518 24 3 6 17 49,082 22 1 7 22 Bae Kim & Lee 28,565 22 3 8 6 Baker & McKenzie 18,903 21-11 9 29 JunHe 12,122 21 6 10 18 Shin & Kim 4,900 21 0 11 25 Yulchon 9,368 20 1 12 32 Khaitan & Co 4,557 20 5 13 19 Freshfields Bruckhaus Deringer 120,172 19 0 14 2 Lee & Ko 20,157 19-19 15 12 Zhong Lun Law Firm 11,019 19-5 Australasia by deal value Rank Company name Australasia by deal count Rank Company name 1 2 Herbert Smith Freehills 30,588 28 59.8% 2 1 King & Wood Mallesons 16,103 16-27.1% 3 6 Gilbert + Tobin 12,874 19 35.0% 4 3 Allens 12,465 25-28.9% 5= 37 Cleary Gottlieb Steen & Hamilton 11,340 1 893.0% 5= 116 ENSafrica 11,340 1 75,500% 5= - Slaughter and May 11,340 1-8 4 Minter Ellison 11,079 22 3% 9 7 Ashurst 8,598 11-6.9% 10 25 Clayton Utz 7,198 6 227.3% 11 99 Simpson Grierson 6,291 3 17,375% 12 - Nishimura & Asahi 6,283 1-13 68 Kirkland & Ellis 6,025 2 40,55.2% 14 - Orrick Herrington & Sutcliffe 5,725 1-15 8 Clifford Chance 3,782 7-56.4% 1 2 Herbert Smith Freehills 30,588 28-11 2 4 Allens 12,465 25-2 3 5 Minter Ellison 11,079 22-2 4 6 Gilbert + Tobin 12,874 19-2 5 1 King & Wood Mallesons 16,103 16-28 6 9 Norton Rose Fulbright 3,275 15-1 7 7 Baker & McKenzie 950 12-6 8 3 Ashurst 8,598 11-17 9 10 Corrs Chambers Westgarth 2,990 11-4 10 25 Talbot Sayer Lawyers 81 8 4 11 17 Clifford Chance 3,782 7-2 12 21 HWL Ebsworth Lawyers 1,072 7 2 13 13 DLA Piper 148 7-6 14 20 Thomson Geer 142 7 1 15 15 Clayton Utz 7,198 6-6 Global and regional M&A: 32

Asia-Pacific Greater China by deal value Rank Company name Greater China by deal count Rank Company name 1 1 Freshfields Bruckhaus Deringer 119,281 13 81.1% 2 6 Linklaters 97,657 12 662% 3 56 Commerce and Finance Law Offices 77,382 6 5,153% 4 45 Guantao Law Firm 76,235 3 3,846% 5 - Woo Kwan Lee & Lo 75,608 2-6 7 48,832 21 313% 7 55 Stikeman Elliott 41,167 2 2,637% 8 30 Herbert Smith Freehills 17,471 7 444.6% 9 27 Baker & McKenzie 16,466 9 324.2% 10 4 King & Wood Mallesons 14,211 33-14.3% 11 15 Grandall Law Firm 14,076 25 105.5% 12 14 JunHe 12,122 21 59.9% 13 12 Zhong Lun Law Firm 11,019 19 27.8% 14 11 Davis Polk & Wardwell 10,577 8 19.1% 15 3 Clifford Chance 9,353 6-48% 1 3 King & Wood Mallesons 14,211 33 5 2 1 Grandall Law Firm 14,076 25-9 3 7 48,832 21 1 4 11 JunHe 12,122 21 6 5 5 Zhong Lun Law Firm 11,019 19-5 6 2 Fangda Partners 8,065 19-12 7 43 Dacheng Law Offices 2,006 16 10 8 12 Grandway Law Offices 1,857 14-1 9 10 Freshfields Bruckhaus Deringer 119,281 13-2 10 16 Linklaters 97,657 12 0 11 24 Tian Yuan Law Firm 5,081 12 3 12 9 Baker & McKenzie 16,466 9-7 13 59 Jingtian & Gongcheng 8,275 9 5 14 28 Allen & Overy 6,439 9 1 15 53 Zhejiang T&C Law Firm 1,849 9 5 India by deal value Rank Company name India by deal count Rank Company name 1 16 Khaitan & Co 4,557 20 221.8% 2 1 Amarchand & Mangaldas & Suresh A Shroff & Co 4,034 15-53% 3 12 AZB & Partners 3,780 32 45.9% 4 2 Davis Polk & Wardwell 2,738 2-54.6% 5= - Gomez-Acebo & Pombo Abogados 2,500 1-5= - Lee and Li Attorneys at Law 2,500 1-5= 70 Morrison & Foerster 2,500 1 27,678% 5= 89 Orrick Herrington & Sutcliffe 2,500 1-9 14 Sullivan & Cromwell 2,158 1-14% 10= - Locke Lord 2,150 1-10= 5 White & Case 2,150 1-49.4% 12 9 Weil Gotshal & Manges 1,194 2-69.9% 13 - Vinson & Elkins 1,077 1-14 56 Latham & Watkins 1,073 1 1,816% 15 4 Luthra & Luthra Law Offices 1,042 11-78.0% 1 2 AZB & Partners 3,780 32 9 2 5 Khaitan & Co 4,557 20 5 3 1 Amarchand & Mangaldas & Suresh A Shroff & Co 4,034 15-10 4 4 J Sagar Associates 1,028 12-6 5 3 Desai & Diwanji 526 12-7 6 7 Luthra & Luthra Law Offices 1,042 11 2 7 16 BMR Legal 1,024 8 4 8 13 S&R Associates 771 6 2 9 15 Krishnamurthy & Co 386 6 2 10 6 Trilegal 371 6-5 11 8 P. H. Bathiya & Associates 767 5-4 12 22 Tatva Legal 218 5 2 13 26 Nishith Desai Associates 84 5 3 14 10 Herbert Smith Freehills 391 4-2 15 - Shardul Amarchand Mangaldas & Co 357 4 - Global and regional M&A: 33

Asia-Pacific South East Asia by deal value Rank Company name South East Asia by deal count Rank Company name 1 1 Allen & Gledhill 5,624 8-64.2% 2 8 WongPartnership 5,217 8 2.0% 3 13 Baker & McKenzie 2,851 12 15.6% 4 77 Shook Lin & Bok Singapore 2,618 5 2,119% 5 - The Legists 1,843 1-6 5 Kirkland & Ellis 1,133 2-80.1% 7 - Demarest 1,066 1-8 4 Linklaters 983 9-86% 9 2 Freshfields Bruckhaus Deringer 891 5-92% 10 16 Weil Gotshal & Manges 833 1-62.0% 11 19 King & Wood Mallesons 796 3-41.9% 12 50 Latham & Watkins 795 3 84.5% 13 100 Norton Rose Fulbright 749 2 2,103% 14 14 Allen & Overy 712 7-69.4% 15 3 Clifford Chance 627 4-93.1% 1 3 Baker & McKenzie 2,851 12-5 2 7 Linklaters 983 9 1 3 1 Allen & Gledhill 5,624 8-14 4 2 WongPartnership 5,217 8-12 5 5 Allen & Overy 712 7-5 6 32 Shook Lin & Bok Singapore 2,618 5 2 7 21 Freshfields Bruckhaus Deringer 891 5 2 8 6 Clifford Chance 627 4-7 9 11 Rajah & Tann 453 4-1 10 14 King & Wood Mallesons 796 3-1 11 18 Latham & Watkins 795 3-1 12 30 AZB & Partners 224 3 0 13 10 Amarchand & Mangaldas & Suresh A Shroff & Co 215 3-2 14 48 Jones Day 20 3 1 15 33 Kirkland & Ellis 1,133 2 0 South Korea by deal value Rank Company name South Korea by deal count Rank Company name 1 1 Kim & Chang 44,694 34 75.4% 2 3 Bae Kim & Lee 28,565 22 195.3% 3 2 Lee & Ko 20,157 19 73.3% 4 8 Yulchon 9,368 20 124.0% 5 7 Shin & Kim 4,900 21-10.5% 6 10 Clifford Chance 1,140 4-56.1% 7 - Cleary Gottlieb Steen & Hamilton 1,111 2-8 24 Paul Hastings 1,105 2 1,005% 9 - Fenwick & West 1,000 2-10 - Morrison & Foerster 1,000 1-11 14 Yoon & Yang 912 10 29.0% 12= 15 DLA Piper 360 1-2.2% 12= - Kirkland & Ellis 360 1-14= - 250 1-14= - WilmerHale 250 1-1 1 Kim & Chang 44,694 34-16 2 4 Bae Kim & Lee 28,565 22 3 3 3 Shin & Kim 4,900 21 0 4 5 Yulchon 9,368 20 2 5 2 Lee & Ko 20,157 19-19 6 6 Yoon & Yang 912 10 2 7 10 Clifford Chance 1,140 4 1 8 11 Hankyul Law Firm 107 4 1 9 - One Law Partners 228 3-10 - Cleary Gottlieb Steen & Hamilton 1,111 2-11 27 Paul Hastings 1,105 2 1 12 - Fenwick & West 1,000 2-13 8 Kim, Choi & Lim 32 2-4 14 - Morrison & Foerster 1,000 1-15= 21 DLA Piper 360 1 0 15= - Kirkland & Ellis 360 1 - Global and regional M&A: 34

Asia-Pacific Japan by deal value Rank Company name Japan by deal count Rank Company name 1 6 Mori Hamada & Matsumoto 14,579 32 28.9% 2 18 Freshfields Bruckhaus Deringer 13,263 6 287.1% 3 1 Nishimura & Asahi 11,044 29-60.1% 4 20 Sullivan & Cromwell 8,850 6 212.2% 5 36 8,706 5 1,463% 6 40 Simpson Thacher & Bartlett 8,613 2 1,572.4% 7 10 Debevoise & Plimpton 8,472 4 48.4% 8 9 Willkie Farr & Gallagher 7,460 1 31% 9 28 Ashurst 6,781 4 602.0% 10 52 Herbert Smith Freehills 6,743 5 2,111% 11 21 Nagashima Ohno & Tsunematsu 6,329 17 134.2% 12= - Clayton Utz 6,283 1-12= - Simpson Grierson 6,283 1-14 3 Sidley Austin 5,464 3-66.8% 15 29 Morrison & Foerster 4,756 11 413.1% 1 1 Mori Hamada & Matsumoto 14,579 32-12 2 2 Nishimura & Asahi 11,044 29 2 3 3 Nagashima Ohno & Tsunematsu 6,329 17-3 4 7 Oh-Ebashi LPC & Partners 485 13 5 5 10 Morrison & Foerster 4,756 11 5 6 5 Anderson Mori & Tomotsune 1,736 11 0 7 4 Baker & McKenzie 1,066 9-3 8 11 TMI Associates 2,446 7 1 9 9 Freshfields Bruckhaus Deringer 13,263 6-1 10 20 Sullivan & Cromwell 8,850 6 3 11 16 Linklaters 3,890 6 2 12 30 8,706 5 3 13 37 Herbert Smith Freehills 6,743 5 3 14 - City-Yuwa Partners 4,738 5-15 14 Allen & Overy 1,318 5 0 Global and regional M&A: 35

Africa & Middle East Africa & Middle East by deal value Rank Company name Africa & Middle East by deal count Rank Company name 1 3 Freshfields Bruckhaus Deringer 7,095 8 45.2% 2 29 DLA Cliffe Dekker Hofmeyr 6,985 13 330.6% 3 13 Allen & Overy 6,045 13 132.3% 4 2 Linklaters 5,816 6 2.1% 5 4 Clifford Chance 5,186 9 28.3% 6 168 Cravath, Swaine & Moore 4,018 2-7 25 Macfarlanes 3,752 2 123.1% 8 57 Goodwin Procter 3,603 2 739.9% 9 1 White & Case 3,553 7-50.5% 10 64 Cooley 3,198 1 966% 11 173 Eversheds 3,042 2-12 - Maitland & Co 2,982 1-13= - Arthur Cox 2,655 1-13= - Mason Hayes & Curran 2,655 1-15 90 Slaughter and May 2,565 4 1,904% 1 5 Webber Wentzel 1,471 19 5 2 6 Bowman Gilfillan Africa Group 1,372 17 4 3 2 ENSafrica 1,806 14-4 4 1 DLA Cliffe Dekker Hofmeyr 6,985 13-11 5 4 Allen & Overy 6,045 13-3 6 16 Yigal Arnon & Co 1,129 12 5 7 18 Meitar Liquornik Geva Leshem Tal & Co 1,662 11 5 8 3 Clifford Chance 5,186 9-7 9 11 Freshfields Bruckhaus Deringer 7,095 8-2 10 8 DLA Piper 1,034 8-3 11 12 Jones Day 922 8-1 12 127 Naschitz Brandes & Co 444 8 7 13 15 Herzog, Fox and Neeman 398 8 1 14 9 White & Case 3,553 7-3 15 19 Werksmans 204 7 1 Global and regional M&A: 36