4Q2012 MA Financial Advisory Review

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    MERGERS & ACQUISITIONS REVIEWFINANCIAL ADVISORS

    Full Year 2012

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    Any New Zealand Involvement Announced (AD39)

    Any New Zealand Involvement Completed (AF46)

    Japan M&A

    Any Americas Involvement Announced (AD49) 7

    US Target Completed (AF2)

    Americas Deals Intelligence

    6

    US Target Announced (AD2) 7

    M&A Financial Advisory ReviewFirst Nine Months 2012 | Mergers & Acquisitions | Financial Advisors

    1

    Japan Deals Intelligence

    Any European Involvement Announced (AD21)

    Any Americas Involvement Completed (AF55)

    17

    17

    18

    18

    Global M&A

    Global Deals Intelligence

    Scorecard: Worldwide Announced M&A

    Scorecard: Worldwide Completed M&A

    Top Fifteen Worldwide Announced Deals

    Any German Involvement Announced (AD35)

    Americas M&A Any Spanish Involvement Completed (AF41)

    Any UK Involvement Announced (AD32)

    Any UK Involvement Completed (AF39)

    13

    12

    Any Italian Involvement Announced (AD36)

    Any Nordic Involvement Announced (AD37)

    Any European Involvement Completed (AF3)

    https://www.thomsonone.com

    10

    12

    12

    Any French Involvement Announced (AD33)

    Worldwide Completed (AF1)

    Top Ten Japanese Involvement Announced Deals

    Any Italian Involvement Completed (AF43)

    20

    20

    19

    Top Ten US Announced Deals

    Any French Involvement Completed (AF40)

    Any Japanese Involvement Completed (AF23)

    20

    19

    15

    Mergers & Acquisitions Criteria Summary

    Any EMEA Involvement Announced (AD47)

    European Deals Intelligence

    Any Benelux Involvement Announced (AD40)

    8

    8

    7

    Any German Involvement Completed (AF42)

    16

    Any Canadian Involvement Completed (AF49)

    Any Australian Involvement Completed (AF31)

    10

    9

    Any Canadian Involvement Announced (AD42)

    16

    Any Asia (ex-Japan) Involvement Completed (AF32)

    Any EMEA Involvement Completed (AF53)

    Any Benelux Involvement Completed (AF47)

    10

    Any US Involvement Completed (AF48)

    Top Ten Any Asia (ex-Japan) Involvement Announced Deals 15

    7

    8

    9EMEA M&A

    Any US Involvement Announced (AD41)

    Any Spanish Involvement Announced (AD34)3

    3

    6

    6

    Any Japanese Announced Fairness Opinion13

    Asia Pacific (ex-Japan) M&A

    Asia Pacific (ex-Japan) Deals Intelligence

    20

    21

    21

    22

    21

    20

    11

    12

    13

    13

    Regional Contacts

    Criteria Summary

    Any EMEA Announced Fairness Opinion

    11

    14

    Worldwide Announced (AD1)

    20

    10

    18

    Any Japanese Involvement Announced (AD19)

    Any Asia Pacific Announced Fairness Opinion

    2

    2

    8

    Table of Contents

    16

    16Any Australian Involvement Announced (AD24)

    9

    1

    Top Ten European Involvement Announced Deals

    Thomson Reuters Soultions for the Deal the Deal

    Making CommunityAny Asia (ex-Japan) Involvement Announced (AD25)

    20

    2

    11

    15

    Fairness Opinion Rankings

    Worldwide Announced Fairness Opinion

    Any Americas Announced Fairness Opinion

    Any USAnnounced Fairness Opinion

    11

    14

    Any Nordic Involvement Completed (AF44)

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    Rankings shown are as of the current quarter end in each calendar yearhttps://www.thomsonone.com

    Full Year 2012 | Mergers & Acquisitions | Financial Advisors

    Worldwide Announced Rankings* - A Decade in Review

    *League Table positions reflect consolidation within the banking sector

    1

    2

    3

    4

    5

    6

    7

    8

    9

    102003 2004 2005 2006 2007 2008 2009 2010 2011 2012

    1

    2

    3

    4

    5

    6

    7

    8

    9

    10

    R

    ank

    Goldman Sachs & Co

    Morgan Stanley

    Barclays

    JP Morgan

    Citi

    Credit Suisse

    Deutsche Bank

    Bank of America Merrill Lynch

    UBS

    Rothschild

    5

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    +1

    0.7% -10.6%Industry % Change from Last Quarter

    10.3%

    Itau Unibanco 5* - 522.2 9.1 9.1 1 0.5

    -57.5%

    https://www.thomsonone.com

    -10.7%

    -6.8%

    Industry % Change from Same Period Last Year -62.1%

    * tie

    4

    3.0

    8.3

    -2

    2.0

    7.7

    Jan 1 Dec 31

    150100.0

    Financial Advisor

    -61.3%

    Asia (ex-Japan) Buyside Financial Sponsor Activity

    Australian Cross Border Announced M&A

    9.6

    -18 86.6

    410.5%

    Asia (ex-Japan) Rankings

    9

    700.8%

    15.8

    6.2

    Sh (%)

    5.214.0

    Market

    Share Ch.

    +20

    3.4 0.7

    1.1

    100.0

    -5

    Market

    4

    UBS 2,104.0

    UBS

    522.2

    1

    5*Credit Suisse 1

    Goldman Sachs & Co 1,313.22

    2011

    Rank

    36.7

    US$m

    22.9

    2012

    Rank

    2012

    Rank

    Sh (%)

    9

    908.0

    18.9

    8

    -48.5

    2011

    Rank

    5,736.8

    -3

    Deals

    6.0

    0.5

    # of Deals per Advisor

    6.0

    Rank Value

    100.0

    US$m

    2

    Industry Total

    Industry % Change from Same Period Last Year

    Industry Total

    Industry % Change from Last Quarter

    Rank Value per Advisor (US$m)

    5,668.1

    Advisor

    17 1,780.1 30.4

    13.5

    Share Ch.

    27.7

    First NZ Capital

    Deutsche Bank

    Macquarie Group

    DealsShare Ch.

    -17.0

    +11.4

    Full Year 2012 | Mergers & Acquisitions | Financial Advisors

    27.1

    Sh (%)

    # of

    3 5 1,083.3

    2

    Jan 1 Dec 31

    Sh (%)

    Any New Zealand Involvement Completed (AF46)

    Imputed Fees (US$m)Market

    13.5

    8.9

    Fees

    # of Deals

    Market

    12.1

    -3

    -1

    0.3

    9.1

    Market

    Change in

    Change in

    Any New Zealand Inv Announced (AD39)

    MarketRank Value

    Market

    Market

    4

    -1.0

    8

    1

    # of

    3

    -1

    -6

    215

    -11.4

    1.9

    3.7

    # of Deals per Advisor

    -1

    # of Deals

    11.7

    2.7

    -1.5

    7 15.4 0.6

    2.0

    2.7

    3

    3

    2,393.1 442.2

    3

    Any Asian (ex-Japan) Involvement Announced M&A by Target Industry ($bil)

    6

    2,456.2

    19.11,083.3

    * tie

    1

    Sh (%)

    5

    31.4

    First NZ Capital

    3

    8

    3Goldman Sachs & Co

    Financial Advisor

    Rank Value per Advisor (US$m)

    874.7

    43.3

    Macquarie Group

    4

    Banco BTG Pactual SA - 522.2 9.1 1 0.5 +1 5* 9.1

    Any Asian (ex-J pa ) Involvement Announced M&A b T rget Industry ($bil)

    17%

    15%

    12%

    10%9%

    7%

    5%

    4%

    4%3%

    2%2%

    Energy and Power Materials Financials

    Consumer Staples Industrials Real Estate

    High Technology Telecommunications Media and Entertainment

    Consumer Products and Services Healthcare Retail

    Government and Agencies

    0%

    20%

    40%

    60%

    80%

    100%

    $0

    $10

    $20

    $30

    $40

    1Q08

    2Q08

    3Q08

    4Q08

    1Q09

    2Q09

    3Q09

    4Q09

    1Q10

    2Q10

    3Q10

    4Q10

    1Q11

    2Q11

    3Q11

    4Q11

    1Q12

    2Q12

    3Q12

    4Q12

    Outbound

    RankValue(

    US$b)

    Outbound (US$b)

    Inbound (US$b)

    % of Cross Border is Outbound

    0%

    2%

    4%

    6%

    8%

    10%

    12%

    14%

    16%

    18%

    20%

    $0

    $5

    $10

    $15

    $20

    $25

    $30

    $35

    $40

    $45

    $50

    0.9 1.4 3.4 6.5 8.2 3.8 14.0 1.5 7.6 15.1 8.8

    %o

    fAsia(ex-Japan)Volume

    Ra

    nkValue(US$b)

    Q4 Volume (US$b)

    Q3 Volume (US$b)

    Q2 Volume (US$b)

    Q1 Volume (US$b)

    % of Asia (ex-Japan) VolumeYTD

    17

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