Top Brokerages - Europe

Rank Brokerage1 BofA Merrill Lynch Global Research 122 Citi Investment Research & Analysis 113 CA Cheuvreux 103 UBS 10

Source: StarMine, a Thomson Reuters company

Total Number of Awards

Top 10 Stock Pickers - Europe

Rank Analyst Broker Notes1 Montalti, Giovanni CA Cheuvreux2 Barnard, Marcus Oriel Securities3 Benassi, Anna Maria Gruppo Banca Leonardo Now at Kepler Capital Markets4 Marín de La Plaza, María BBVA5 Tondi, Francesca Morgan Stanley6 Molina, Santiago La Caixa

7 Sels, Joeri DZ Bank8 Gold, Tania UniCredit Research Currently inactive

9 Castro, Borja CA Cheuvreux10 Heindorff, Lars ABG Sundal Collier

Source: StarMine, a Thomson Reuters company

Primary Coverage Industries 34.6% Telecommunication Services; Media32.2% Insurance28.9% Banks25.6% Pharmaceuticals; Biotechnology24.9% Banks24.5% Construction & Materials; Real Estate

24.3%23.9% Banks

23.6% Construction & Materials; Transportation23.4% Transportation

Overall Excess Return

Telecommunication Services; Software & Internet Services; Media

Top Stock Pickers by Industry - Europe

Rank Industry Analyst1 Aerospace & Defence Vig, Rupinder2 Aerospace & Defence Fornaro, Celine3 Aerospace & Defence Gollan, Andrew1 Automobiles Hill, Fraser2 Automobiles Pieper, Jürgen3 Automobiles Punzet, Michael1 Banks Benassi, Anna Maria2 Banks Tondi, Francesca2 Banks Gold, Tania1 Beverages & Tobacco Collett, Mitch2 Beverages & Tobacco Mann, Rob3 Beverages & Tobacco Spielman, Adam1 Biotechnology Guérin, Arnaud2 Biotechnology Jørgensen, Espen Tidemann3 Biotechnology Besserve, Rodolphe1 Business & Consumer Services Plant, Robert2 Business & Consumer Services Lawson, John3 Business & Consumer Services Lloyd, Matthew1 Chemicals Reck, Jürgen2 Chemicals De Watteville, Jean3 Chemicals Barker, Jennifer1 Construction & Materials Cebollero, María2 Construction & Materials Molina, Santiago3 Construction & Materials Ocina, José Ramón1 Energy Syme, Alastair2 Energy Mulder, Quirijn3 Energy Stenhagen, Ole1 Financial Services Henze, Rickard2 Financial Services Heath, Catherine3 Financial Services Howlett, Will1 Food & Household Products Malm, Sjur S.2 Food & Household Products Yáguez, Enrique3 Food & Household Products Castell, Antonio1 Food & Staples Retail Johnston, Alastair2 Food & Staples Retail McCarthy, Dave3 Food & Staples Retail Kershaw, John1 Healthcare Bernhardsgrutter, Thomas2 Healthcare Thomas, Chris3 Healthcare Reinberg, Oliver1 Hotels & Leisure Shan, Sahill2 Hotels & Leisure Ellis, Wyn3 Hotels & Leisure Parson, Nigel1 Household & Leisure Goods Millington, Chris2 Household & Leisure Goods Moy, Kate3 Household & Leisure Goods Kuglitsch, Gregor1 Industrials Dyett, Chris2 Industrials Fielding, Mark3 Industrials Medlicott, Steve1 Insurance Barnard, Marcus2 Insurance Hardcastle, William3 Insurance Ryan, Kevin1 IT Services Adolfsen, André

2 IT Services Daure, Laurent3 IT Services Brennan, Charles1 Machinery Marinoni, Ralf2 Machinery Carter, Andrew3 Machinery Dean, John1 Media Tennant, Colin2 Media Howard, Alan3 Media Singlehurst, Thomas1 Metals & Mining Mohinta, Anindya2 Metals & Mining Bell, Roger3 Metals & Mining Guy, Jonathan1 Non-Food Retail Hunt, Ben2 Non-Food Retail Vidyarthi, Sanjay3 Non-Food Retail Cochrane, Adam1 Paper & Packaging Cavanillas, Rafael2 Paper & Packaging Gilardi, Ross3 Paper & Packaging Melbye, Martin1 Personal & Luxury Products Schlienkamp, Christoph2 Personal & Luxury Products Ozun, Rodolphe3 Personal & Luxury Products Perry, Allegra1 Pharmaceuticals Purcell, Mark2 Pharmaceuticals Rundquist, Odile3 Pharmaceuticals Verdult, Peter1 Real Estate Munden, Sue2 Real Estate van der Meij, Thomas3 Real Estate Duclos, Bruno1 Software & Internet Services Briest, Michael

2 Software & Internet Services3 Software & Internet Services O'Connor, George1 Technology Hardware Rauhala, Hannu2 Technology Hardware Reid, Gerard3 Technology Hardware Langer, Thomas1 Telecommunication Services Darley, Andrew2 Telecommunication Services Delfas, Nick3 Telecommunication Services Sels, Joeri1 Transportation El Haddad, Rafic &Thibault, Grégoire2 Transportation Crimes, Robert3 Transportation Evans, Andrew1 Utilities Cruz-Guzmán, Antonio2 Utilities Trindade, Flora & Silva, Bruno Miguel3 Utilities López, José

Source: StarMine, a Thomson Reuters company

Beaudoux, Richard; Le Quang, Thomas & Giard, Gwénaël

Broker NotesMorgan StanleyBofA Merrill Lynch Global ResearchInvestec SecuritiesBofA Merrill Lynch Global ResearchMetzler EquitiesDZ BankGruppo Banca Leonardo Now at Kepler Capital MarketsMorgan StanleyUniCredit Research Currently inactiveGoldman SachsCollins Stewart Currently inactiveCiti Investment Research & AnalysisPortzamparcDNB MarketsSG Securities Currently inactiveJ.P. Morgan CazenoveInvestec SecuritiesHSBC Global ResearchMacquarie Research EquitiesNomuraNomura Currently inactiveAnalisis Banco SabadellLa CaixaN+1 EquitiesCiti Investment Research & AnalysisING Financial MarketsSEB EnskildaABG Sundal CollierCanaccord GenuityMacquarie Research Equities Currently inactiveSEB EnskildaMirabaud FinanzasLa CaixaCiti Investment Research & AnalysisEvolution Securities Currently inactiveBofA Merrill Lynch Global Research Currently inactiveCA Cheuvreux Currently inactiveArden PartnersCA CheuvreuxN+1 BrewinNumis SecuritiesEvolution Securities Currently inactiveNumis SecuritiesArbuthnot Securities Currently inactiveUBSInvestec SecuritiesCiti Investment Research & AnalysisAltium Securities Currently inactiveOriel SecuritiesMacquarie Research Equities Now at BofA Merrill Lynch Global ResearchInvestec SecuritiesNordea Markets

Kepler Capital MarketsRBS Global Banking & Markets Currently inactiveClose Brothers Seydler ResearchRBC Capital MarketsJefferies International Limited Currently inactiveNomuraCanaccord GenuityCiti Investment Research & AnalysisCiti Investment Research & AnalysisJ.P. Morgan CazenoveRBC Capital MarketsOriel Securities Currently inactiveEspirito Santo Investment BankUBSAhorro CorporaciónBofA Merrill Lynch Global ResearchABG Sundal CollierBankhaus LampeBofA Merrill Lynch Global ResearchNomura Currently inactiveBarclaysHelveaMorgan StanleySeymour PierceKempen & CoCA CheuvreuxUBS

Natixis SecuritiesPanmure GordonPohjola Bank (ESN Partnership)Jefferies International Limited Currently inactiveWestLB Capital MarketsfinnCapMorgan StanleyDZ BankNatixis SecuritiesCredit SuisseNomuraBanesto BolsaBPIHSBC Global Research

Top 10 Earnings Estimators - Europe

Rank Analyst Broker Notes1 Dempsey, Nick Barclays2 Mills, Charlie Credit Suisse3 Becker, Ingo Kepler Capital Markets4 Schmidt, Daniel SEB Enskilda5 Swanton, Stephen UBS6 Betts, Mike Jefferies International Limited7 Toms, Alex BofA Merrill Lynch Global Research8 Göçmen, Volkan Helvea9 Yates, Kevin RBS Global Banking & Markets Currently inactive

10 Hardwick, Julian RBS Global Banking & Markets Currently inactive

Source: StarMine, a Thomson Reuters company

Primary Coverage Industries MediaFood & Household ProductsUtilitiesMultiple IndustriesMachinery; IndustrialsConstruction & MaterialsMachinery; IndustrialsMachineryTelecommunication ServicesFood & Household Products; Beverages & Tobacco

Top Earnings Estimators by Industry - Europe

Rank Industry Analyst1 Aerospace & Defence Fornaro, Celine2 Aerospace & Defence Nourse, Harry3 Aerospace & Defence Morris, Sandy1 Automobiles Schuldt, Tim2 Automobiles Bosio, Monica3 Automobiles Cramer, David1 Banks Vega Zabala, Íñigo2 Banks Creelan-Sandford, Benjie3 Banks Smith, Neil1 Beverages & Tobacco Fell, Jonathan2 Beverages & Tobacco Morrisey, Philip3 Beverages & Tobacco Collett, Mitch

1 Biotechnology

2 Biotechnology

3 Biotechnology1 Business & Consumer Services Ripper, Andrew C.2 Business & Consumer Services Rigby, David3 Business & Consumer Services Zomer, Konrad1 Chemicals Dunwoodie, Martin2 Chemicals Günther, Marco3 Chemicals Mackey, Peter1 Construction & Materials Betts, Mike2 Construction & Materials Mulder, André3 Construction & Materials Molina, Santiago1 Energy Bachke, Carl Christian2 Energy Alsford, Michael3 Energy Molisani, Sergio1 Financial Services Kluis, Cor2 Financial Services Turner, Chris3 Financial Services McCann, David1 Food & Household Products Mills, Charlie2 Food & Household Products McNeela, Damian3 Food & Household Products Hardwick, Julian1 Food & Staples Retail Joly, Arnaud2 Food & Staples Retail Tattersall, Mike3 Food & Staples Retail Caron, Fabienne1 Healthcare Reinberg, Oliver2 Healthcare Bischofberger, Sibylle3 Healthcare Deitz, Thomas1 Hotels & Leisure Lee, Vicki2 Hotels & Leisure Whittington, Simon3 Hotels & Leisure Lewis, Vaughan1 Household & Leisure Goods Hake, Mark2 Household & Leisure Goods Millington, Chris3 Household & Leisure Goods Biddulph, Emily1 Industrials Smith, Simon2 Industrials Günther, Marco3 Industrials Fielding, Mark1 Insurance Cohen, Hadley

Parkhøi, Martin; Bowers, Thomas & Haggblom, Mattias

Possienke, Martin & Aubery, Edouard

Hugreffe, Peter; Hultgård, Erik & Larsen, Morten

2 Insurance Pantarrotas, Atanasio3 Insurance Hocking, Jon1 IT Services O'Connor, George2 IT Services Borra, S.K.Prasad3 IT Services Pollard, Stacy1 Machinery Toms, Alex2 Machinery Göçmen, Volkan3 Machinery Dreyer, Rudolf1 Media Dempsey, Nick2 Media Gooden, Paul3 Media Nollen, Tim1 Metals & Mining Haissl, Alexander2 Metals & Mining De Pauw, Filip3 Metals & Mining Barker, Cailey1 Non-Food Retail Rossington, Paul2 Non-Food Retail Hughes, Andrew3 Non-Food Retail Kuhn, Michael

1 Paper & Packaging Melbye, Martin & Nystrøm, Petter2 Paper & Packaging Larsson, Linus3 Paper & Packaging Gilardi, Ross1 Personal & Luxury Products Chauvet, Thomas2 Personal & Luxury Products Breuil, François-Régis3 Personal & Luxury Products Hamel, Vincent1 Pharmaceuticals Leacock, Michael2 Pharmaceuticals Fung, Ph.D, Eleanor3 Pharmaceuticals Günther, Marco1 Real Estate Claesson, Bengt2 Real Estate Andersson, Jonas3 Real Estate Mortensen, Simen

1 Software & Internet Services2 Software & Internet Services Wranne, Håkan3 Software & Internet Services Briest, Michael1 Technology Hardware Jenkins, Gareth2 Technology Hardware Zwart, Niels de3 Technology Hardware Gardiner, Andrew1 Telecommunication Services Yates, Kevin2 Telecommunication Services Prota, Luis3 Telecommunication Services Kallianiotis, Dimitri1 Transportation Castle, Jarrod2 Transportation Manduca, Mark3 Transportation Light, Andrew1 Utilities Becker, Ingo2 Utilities Wirtz, Peter3 Utilities Lafuente, Fernando

Source: StarMine, a Thomson Reuters company

Beaudoux, Richard; Giard, Gwénaël & Le Quang, Thomas

Broker NotesBofA Merrill Lynch Global ResearchHSBC Global ResearchRBS Global Banking & Markets Now at Jefferies International Limitedequinet Bank (ESN Partnership)Banca IMIBerenberg BankCA CheuvreuxMacquarie Research EquitiesWestLB Capital MarketsDeutsche Bank SecuritiesBerenberg BankGoldman Sachs

Danske Markets

equinet Bank (ESN Partnership)

ABG Sundal CollierBofA Merrill Lynch Global ResearchCredit SuisseBerenberg BankDeutsche Bank SecuritiesHamburger Sparkasse (Haspa)Morgan StanleyJefferies International LimitedKepler Capital MarketsLa CaixaRS Platou MarketsCiti Investment Research & AnalysisUniCredit Research Currently inactiveRabobank Equity ResearchGoldman SachsNumis SecuritiesCredit SuissePanmure GordonRBS Global Banking & Markets Currently inactiveCA CheuvreuxUBSUniCredit Research Currently inactiveCA CheuvreuxZürcher KantonalbankRBS Global Banking & Markets Currently inactiveBarclaysUBSMorgan StanleyBofA Merrill Lynch Global ResearchNumis SecuritiesJ.P. Morgan CazenoveCredit SuisseHamburger Sparkasse (Haspa)Citi Investment Research & AnalysisMacquarie Research Equities

CA CheuvreuxMorgan StanleyPanmure GordonGoldman SachsJ.P. Morgan CazenoveBofA Merrill Lynch Global ResearchHelveaGoldman SachsBarclaysRBS Global Banking & Markets Currently inactiveMacquarie Research EquitiesCA Cheuvreux Currently inactiveING Financial MarketsNumis SecuritiesHSBC Global ResearchUBSDeutsche Bank Securities

ABG Sundal CollierSEB EnskildaBofA Merrill Lynch Global ResearchCiti Investment Research & AnalysisOddo Securities Currently inactiveMacquarie Research Equities Currently inactiveRBS Global Banking & Markets Currently inactiveGoldman SachsHamburger Sparkasse (Haspa)SEB EnskildaNordea MarketsDNB Markets

Natixis SecuritiesSwedbank MarketsUBSUBSING Financial MarketsBarclaysRBS Global Banking & Markets Currently inactiveMorgan StanleyCiti Investment Research & AnalysisUBSBofA Merrill Lynch Global ResearchCiti Investment Research & AnalysisKepler Capital MarketsWestLB Capital MarketsN+1 Equities