GLOBALM&AMID-MARKET REVIEWLEGAL RANKINGS1Q 2020

CONTENTS

1. Introduction2. Global Mid-Market Deals3. Global Mid-Market Private Equity Deals5. US Mid-Market Deals6. Canada Mid-Market Deals7. European Mid-Market Deals8. UK Mid-Market Deals9. APAC ex Japan Mid-Market Deals10. Japan Mid-Market Deals11. Disclaimer

DATA SUBMISSIONS AND QUERIES

North America

EMEA

Asia Pacific

Contact Nageen Qasim

Madeeha Ahmad

Ee Wen Tay

Phone +1-646-824-2878

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+65-62-313404

Email nqasim1@bloomberg.net

mchaudhry13@bloomberg.net

etay26@bloomberg.net

General M&A queries may be submitted to: m-a@bloomberg.net, malondon@bloomberg.net, maasia@bloomberg.net

The Bloomberg M&A Advisory League Tables are the definitive publication of M&A advisory rankings. The tables represent the top financial and legal advisors across a broad array of deal types, regions, and industry sectors. The rankings data is comprised of mergers, acquisitions, divestitures, spin-offs, debt-for-equity-swaps, joint ventures, private placements of common equity and convertible securities, and the cash injection component of recapitalization according to Bloomberg standards.

Bloomberg M&A delivers real-time coverage of the M&A market from nine countries around the world. We provide a global perspective and local insight into unique deal structures in various markets through a network of over 800 financial and legal advisory firms, ensuring an accurate reflection of key market trends. Our quarterly league table rankings are a leading benchmark for legal and financial advisory performance.

Visit {NI LEAG CRL <GO>} to download copies of the final release and a full range of market specific league table results. On the web, visit: http://www.bloomberg.com/professional/solutions/investment-banking/.

Due to the dynamic nature of the Professional Service product, league table rankings may vary between this release and data found on the Bloomberg Professional Service.

1Q 2020

GLOBAL M&A MID-MARKET LEGAL ADVISORY RANKINGS

©2020 Bloomberg Finance L.P. All rights reserved.1

Global Mid-Market (Up to $500 mln) 01/01/2020 - 03/31/2020 Global Mid-Market by Deal Count (Up to $500 mln) 01/01/2020 - 03/31/2020

Kirkland & Ellis LLP 1 2.08 4,364 86 4 1.86 0.23 Goodwin Procter LLP 1 1.85 3,882 105 20 0.73 1.12

Latham & Watkins LLP 2 2.00 4,205 83 2 2.10 -0.09 Jones Day 2 1.14 2,390 99 3 2.30 -1.16

Goodwin Procter LLP 3 1.85 3,882 105 31 0.73 1.12 Kirkland & Ellis LLP 3 2.08 4,364 86 1 1.86 0.23

White & Case LLP 4 1.29 2,696 45 3 2.06 -0.78 Latham & Watkins LLP 4 2.00 4,205 83 4 2.10 -0.09

Clifford Chance LLP 5 1.26 2,643 33 6 1.56 -0.30 Orrick Herrington & Sutcliffe LLP 5 1.01 2,120 69 2 1.50 -0.48

Ropes & Gray LLP 6 1.22 2,553 35 77 0.30 0.92 DLA Piper Global 6 1.07 2,239 65 113 - 1.06

Allen & Overy LLP 7 1.21 2,547 39 5 1.67 -0.45 McGuireWoods LLP 7 0.87 1,826 62 7 0.33 0.54

Paul Weiss Rifkind Wharton & Garrison LLP 8 1.20 2,524 26 71 0.33 0.88 Sidley Austin LLP 8 1.04 2,172 56 22 0.27 0.76

Nishimura & Asahi 9 1.17 2,455 33 28 0.81 0.36 White & Case LLP 9 1.29 2,696 45 8 2.06 -0.78

Jones Day 10 1.14 2,390 99 1 2.30 -1.16 Morgan Lewis & Bockius LLP 10 1.05 2,206 43 15 0.69 0.36

Cyril Amarchand Mangaldas 11 1.09 2,288 30 51 0.49 0.60 Hogan Lovells US LLP 11 0.94 1,961 40 9 1.02 -0.09

DLA Piper Global 12 1.07 2,239 65 269 - 1.06 McDermott Will & Emery LLP Inc 11 0.48 999 40 28 0.30 0.18

Cleary Gottlieb Steen & Hamilton LLP 13 1.05 2,211 18 21 0.92 0.13 Allen & Overy LLP 13 1.21 2,547 39 10 1.67 -0.45

Morgan Lewis & Bockius LLP 14 1.05 2,206 43 32 0.69 0.36 Willkie Farr & Gallagher LLP 13 0.43 898 39 34 0.80 -0.37

Kim & Chang 15 1.05 2,206 18 39 0.58 0.47 Ropes & Gray LLP 15 1.22 2,553 35 19 0.30 0.92

Slaughter and May 16 1.04 2,176 13 47 0.53 0.51 Clifford Chance LLP 16 1.26 2,643 33 13 1.56 -0.30

Sidley Austin LLP 17 1.04 2,172 56 79 0.27 0.76 Nishimura & Asahi 16 1.17 2,455 33 31 0.81 0.36

Weil Gotshal & Manges LLP 18 1.01 2,126 27 17 0.99 0.03 Cyril Amarchand Mangaldas 18 1.09 2,288 30 54 0.49 0.60

Orrick Herrington & Sutcliffe LLP 19 1.01 2,120 69 7 1.50 -0.48 Nagashima Ohno & Tsunematsu 18 0.86 1,804 30 26 0.91 -0.05

Davis Polk & Wardwell LLP 20 0.98 2,054 16 24 0.89 0.09 Mori Hamada & Matsumoto 20 0.95 1,999 29 15 1.32 -0.37

TOTAL 209,747 10,579 TOTAL 209,747 10,579

Global Mid-Market (Up to $250 mln) 01/01/2020 - 03/31/2020 Global Mid-Market by Deal Count (Up to $250 mln) 01/01/2020 - 03/31/2020

Latham & Watkins LLP 1 1.57 2,299 78 2 1.62 -0.05 Goodwin Procter LLP 1 1.52 2,227 100 19 0.62 0.90

Goodwin Procter LLP 2 1.52 2,227 100 28 0.62 0.90 Jones Day 2 1.20 1,758 97 3 1.55 -0.35

Jones Day 3 1.20 1,758 97 3 1.55 -0.35 Latham & Watkins LLP 3 1.57 2,299 78 4 1.62 -0.05

Paul Weiss Rifkind Wharton & Garrison LLP 4 1.16 1,695 24 73 0.26 0.89 Kirkland & Ellis LLP 4 0.35 506 75 1 1.29 -0.94

Orrick Herrington & Sutcliffe LLP 5 1.13 1,658 68 1 1.74 -0.60 Orrick Herrington & Sutcliffe LLP 5 1.13 1,658 68 2 1.74 -0.60

DLA Piper Global 6 1.10 1,609 63 250 0.01 1.09 DLA Piper Global 6 1.10 1,609 63 110 0.01 1.09

Cyril Amarchand Mangaldas 7 0.94 1,381 27 37 0.43 0.52 McGuireWoods LLP 7 0.48 699 59 6 0.48 -

Hogan Lovells US LLP 8 0.89 1,304 38 12 0.84 0.05 Sidley Austin LLP 8 0.56 812 53 21 0.40 0.16

Davis Polk & Wardwell LLP 9 0.77 1,132 14 110 0.14 0.63 Morgan Lewis & Bockius LLP 9 0.54 792 40 13 0.70 -0.16

Kim & Chang 10 0.70 1,031 15 11 0.85 -0.15 White & Case LLP 9 0.46 671 40 10 0.98 -0.52

Nagashima Ohno & Tsunematsu 11 0.66 965 28 14 0.81 -0.15 McDermott Will & Emery LLP Inc 11 0.38 549 39 26 0.24 0.13

Mori Hamada & Matsumoto 12 0.65 955 26 15 0.81 -0.15 Hogan Lovells US LLP 12 0.89 1,304 38 8 0.84 0.05

Allen & Overy LLP 13 0.64 934 35 4 1.47 -0.83 Willkie Farr & Gallagher LLP 12 0.41 598 38 35 0.38 0.03

Nishimura & Asahi 14 0.61 886 29 22 0.71 -0.10 Allen & Overy LLP 14 0.64 934 35 10 1.47 -0.83

Bae Kim & Lee 15 0.59 865 10 70 0.27 0.32 Ropes & Gray LLP 15 0.46 679 30 15 0.23 0.23

Slaughter and May 16 0.58 852 10 59 0.31 0.27 Nishimura & Asahi 16 0.61 886 29 31 0.71 -0.10

Cooley LLP 17 0.57 833 26 13 0.81 -0.24 Dentons 16 0.31 457 29 13 0.40 -0.09

Sidley Austin LLP 18 0.56 812 53 41 0.40 0.16 Nagashima Ohno & Tsunematsu 18 0.66 965 28 26 0.81 -0.15

Morgan Lewis & Bockius LLP 19 0.54 792 40 23 0.70 -0.16 Clifford Chance LLP 18 0.43 634 28 15 1.29 -0.86

Minter Ellison 20 0.54 786 13 103 0.16 0.38 Wilson Sonsini Goodrich & Rosati PC 18 0.23 334 28 31 0.40 -0.17

TOTAL 146,335 10,400 TOTAL 146,335 10,400

FIRM

2020 2019MKT SHR

CHANGE FIRM

2020

FIRM

VOLUME USD

(Mln)

DEAL

COUNT

2019MKT SHR

CHANGE FIRM

2020

VOLUME USD

(Mln)

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COUNTVOLUME USD

(Mln)

DEAL

COUNT RANK

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(%)

2020

RANK

MKT SHR

(%)

RANK

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(%)

2019MKT SHR

CHANGE RANK

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(%)

2019MKT SHR

CHANGE RANK

MKT SHR

(%) VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%) RANK

MKT SHR

(%)

2

Global Mid-Market (Up to $50 mln) 01/01/2020 - 03/31/2020 Global Private Equity (Up to $500 mln) 01/01/2020 - 03/31/2020

Goodwin Procter LLP 1 1.91 907 90 15 0.45 1.46 Goodwin Procter LLP 1 4.58 3,665 81 20 1.34 3.24

Orrick Herrington & Sutcliffe LLP 2 1.12 532 58 1 1.80 -0.68 Latham & Watkins LLP 2 3.10 2,482 49 2 3.53 -0.43

Cyril Amarchand Mangaldas 3 0.74 351 18 20 0.39 0.35 White & Case LLP 3 3.06 2,452 27 7 2.19 0.87

Jones Day 4 0.74 350 88 4 0.85 -0.11 Orrick Herrington & Sutcliffe LLP 4 2.58 2,067 54 1 3.56 -0.98

Mori Hamada & Matsumoto 5 0.58 275 21 38 0.20 0.38 Kirkland & Ellis LLP 5 2.30 1,844 47 3 2.62 -0.32

Latham & Watkins LLP 6 0.51 242 62 3 1.12 -0.61 Jones Day 6 2.03 1,623 46 5 2.39 -0.36

Anderson Mori & Tomotsune 7 0.44 208 17 5 0.76 -0.32 Weil Gotshal & Manges LLP 7 1.91 1,530 19 10 1.81 0.10

Shin & Kim 8 0.40 192 10 34 0.25 0.15 Sidley Austin LLP 8 1.90 1,521 28 47 0.51 1.39

Willkie Farr & Gallagher LLP 9 0.39 184 35 23 0.33 0.06 Cyril Amarchand Mangaldas 9 1.63 1,303 21 38 0.62 1.01

Nagashima Ohno & Tsunematsu 10 0.38 181 22 6 0.70 -0.32 Clifford Chance LLP 10 1.52 1,215 15 8 2.14 -0.62

Bae Kim & Lee 11 0.38 180 6 21 0.39 - Ropes & Gray LLP 11 1.49 1,191 23 35 0.67 0.82

DLA Piper Global 12 0.37 176 51 142 0.04 0.34 Fenwick & West LLP 12 1.39 1,110 14 31 0.82 0.57

Trilegal 13 0.36 170 11 29 0.27 0.09 Cooley LLP 13 1.30 1,040 13 27 1.04 0.26

Pinheiro Neto Advogados 14 0.34 160 16 49 0.17 0.17 Allen & Overy LLP 14 0.97 778 16 4 2.39 -1.42

Fenwick & West LLP 15 0.34 159 11 62 0.15 0.19 Morgan Lewis & Bockius LLP 15 0.92 733 16 62 0.42 0.50

Khaitan & Co 16 0.32 151 16 11 0.54 -0.22 Shin & Kim 16 0.90 722 5 75 0.28 0.62

White & Case LLP 17 0.28 135 35 98 0.08 0.21 Paul Weiss Rifkind Wharton & Garrison LLP 17 0.87 698 13 39 0.61 0.26

McCarthy Tetrault LLP 18 0.27 128 14 59 0.15 0.12 Yulchon LLC 18 0.84 676 4 142 0.02 0.82

Lee & Ko 19 0.27 128 9 22 0.36 -0.09 Hogan Lovells US LLP 19 0.84 674 20 12 1.59 -0.75

Sullivan & Cromwell LLP 20 0.26 125 14 150 0.03 0.23 O'Melveny & Myers LLP 20 0.80 640 8 30 0.86 -0.06

TOTAL 47,393 9,533 TOTAL 80,009 3,698

Global Private Equity by Deal Count (Up to $500 mln) 01/01/2020 - 03/31/2020 Global Private Equity (Up to $250 mln) 01/01/2020 - 03/31/2020

Goodwin Procter LLP 1 4.58 3,665 81 11 1.34 3.24 Goodwin Procter LLP 1 3.41 2,010 76 7 1.49 1.92

Orrick Herrington & Sutcliffe LLP 2 2.58 2,067 54 1 3.56 -0.98 Orrick Herrington & Sutcliffe LLP 2 2.73 1,605 53 1 3.98 -1.25

Latham & Watkins LLP 3 3.10 2,482 49 3 3.53 -0.43 Latham & Watkins LLP 3 2.36 1,388 46 2 3.17 -0.81

Kirkland & Ellis LLP 4 2.30 1,844 47 2 2.62 -0.32 Jones Day 4 2.13 1,255 45 5 1.56 0.57

Jones Day 5 2.03 1,623 46 4 2.39 -0.36 Cyril Amarchand Mangaldas 5 1.62 953 20 21 0.89 0.73

Sidley Austin LLP 6 1.90 1,521 28 13 0.51 1.39 Paul Weiss Rifkind Wharton & Garrison LLP 6 1.19 698 13 53 0.32 0.86

DLA Piper Global 6 0.53 425 28 70 0.02 0.51 Yulchon LLC 7 1.15 676 4 128 0.03 1.12

White & Case LLP 8 3.06 2,452 27 20 2.19 0.87 Hogan Lovells US LLP 8 1.15 674 20 15 1.02 0.13

Willkie Farr & Gallagher LLP 9 0.79 632 25 14 1.45 -0.66 Fenwick & West LLP 9 1.14 670 13 11 1.18 -0.05

Ropes & Gray LLP 10 1.49 1,191 23 7 0.67 0.82 Sidley Austin LLP 10 1.04 611 26 27 0.75 0.29

McGuireWoods LLP 10 0.13 103 23 15 0.23 -0.10 Cooley LLP 11 1.02 600 12 22 0.89 0.13

Cyril Amarchand Mangaldas 12 1.63 1,303 21 33 0.62 1.01 Khaitan & Co 12 0.90 528 12 8 1.47 -0.58

Hogan Lovells US LLP 13 0.84 674 20 6 1.59 -0.75 LAB Partners 13 0.74 437 4 84 0.18 0.57

McDermott Will & Emery LLP Inc 13 0.32 259 20 29 0.17 0.16 White & Case LLP 14 0.73 428 22 38 0.49 0.24

Weil Gotshal & Manges LLP 15 1.91 1,530 19 8 1.81 0.10 DLA Piper Global 15 0.72 425 28 129 0.03 0.69

Paul Hastings LLP 15 0.68 545 19 22 0.68 - Clifford Chance LLP 16 0.71 419 13 4 1.81 -1.10

Herbert Smith Freehills LLP 17 0.20 160 17 20 0.19 0.01 Allen & Overy LLP 17 0.66 386 15 20 0.90 -0.24

Allen & Overy LLP 18 0.97 778 16 9 2.39 -1.42 CMS Legal Services EEIG/EWIV 18 0.65 385 10 42 0.42 0.24

Morgan Lewis & Bockius LLP 18 0.92 733 16 29 0.42 0.50 Nishimura & Asahi 19 0.65 385 8 88 0.15 0.50

Clifford Chance LLP 20 1.52 1,215 15 9 2.14 -0.62 Ropes & Gray LLP 20 0.63 374 21 41 0.42 0.21

TOTAL 80,009 3,698 TOTAL 58,849 3,639

2019MKT SHR

CHANGE FIRM

2020

VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%)

FIRM

2020 2019

MKT SHR

CHANGE FIRM

2020

FIRM

VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%)

2019MKT SHR

CHANGE RANK

MKT SHR

(%) VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%) RANK

MKT SHR

(%)

2020

2019

MKT SHR

CHANGERANK

MKT SHR

(%)

VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%) RANK

MKT SHR

(%)

3

Global Private Equity by Deal Count (Up to $250 mln) 01/01/2020 - 03/31/2020 Global Private Equity (Up to $50 mln) 01/01/2020 - 03/31/2020

Goodwin Procter LLP 1 3.41 2,010 76 8 1.49 1.92 Goodwin Procter LLP 1 3.95 877 68 6 0.90 3.05

Orrick Herrington & Sutcliffe LLP 2 2.73 1,605 53 1 3.98 -1.25 Orrick Herrington & Sutcliffe LLP 2 2.40 532 44 1 3.72 -1.32

Latham & Watkins LLP 3 2.36 1,388 46 3 3.17 -0.81 Cyril Amarchand Mangaldas 3 1.21 269 14 7 0.88 0.33

Jones Day 4 2.13 1,255 45 4 1.56 0.57 Jones Day 4 1.03 229 38 5 1.16 -0.13

Kirkland & Ellis LLP 5 0.06 37 42 2 2.31 -2.24 Latham & Watkins LLP 5 0.81 181 37 3 1.89 -1.08

DLA Piper Global 6 0.72 425 28 67 0.03 0.69 Willkie Farr & Gallagher LLP 6 0.76 168 22 8 0.79 -0.03

Sidley Austin LLP 7 1.04 611 26 11 0.75 0.29 Fenwick & West LLP 7 0.72 159 9 21 0.35 0.37

Willkie Farr & Gallagher LLP 8 0.56 332 24 15 0.53 0.03 Trilegal 8 0.59 132 8 22 0.30 0.29

McGuireWoods LLP 9 0.17 103 23 14 0.33 -0.16 McGuireWoods LLP 9 0.46 103 23 24 0.29 0.17

White & Case LLP 10 0.73 428 22 34 0.49 0.24 DLA Piper Global 10 0.43 96 25 74 0.09 0.35

Ropes & Gray LLP 11 0.63 374 21 7 0.42 0.21 Herbert Smith Freehills LLP 11 0.42 94 16 106 - 0.42

Cyril Amarchand Mangaldas 12 1.62 953 20 29 0.89 0.73 White & Case LLP 12 0.40 88 19 67 0.09 0.30

Hogan Lovells US LLP 12 1.15 674 20 6 1.02 0.13 Khaitan & Co 13 0.36 81 7 15 0.51 -0.15

McDermott Will & Emery LLP Inc 12 0.44 259 20 23 0.24 0.20 O'Melveny & Myers LLP 13 0.36 81 6 4 1.17 -0.80

Paul Hastings LLP 15 0.46 270 18 22 0.43 0.03 Sidley Austin LLP 15 0.32 70 21 26 0.26 0.06

Herbert Smith Freehills LLP 16 0.27 160 17 17 0.27 - S&R Associates 16 0.31 69 3 19 0.38 -0.07

Weil Gotshal & Manges LLP 17 0.51 300 16 8 0.93 -0.42 NautaDutilh NV 17 0.30 67 6 106 - 0.30

Allen & Overy LLP 18 0.66 386 15 13 0.90 -0.24 Shin & Kim 18 0.30 67 3 49 0.17 0.13

Morgan Lewis & Bockius LLP 18 0.40 233 15 23 0.61 -0.21 Fangda Partners 19 0.30 67 8 14 0.52 -0.22

Simpson Thacher & Bartlett LLP 20 0.03 18 14 29 0.65 -0.62 Shardul Amarchand Mangaldas & Co 20 0.27 61 3 10 0.71 -0.43

TOTAL 58,849 3,639 TOTAL 22,204 3,311

2019MKT SHR

CHANGE FIRM

2020

VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%) FIRM

2019MKT SHR

CHANGE RANK

MKT SHR

(%) VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%) RANK

MKT SHR

(%)

2020

4

US Mid-Market (Up to $500 mln) 01/01/2020 - 03/31/2020 US Mid-Market by Deal Count (Up to $500 mln) 01/01/2020 - 03/31/2020

Goodwin Procter LLP 1 3.65 3,737 99 17 1.40 2.25 Goodwin Procter LLP 1 3.65 3,737 99 9 1.40 2.25

Kirkland & Ellis LLP 2 3.56 3,645 81 1 4.08 -0.52 Kirkland & Ellis LLP 2 3.56 3,645 81 1 4.08 -0.52

Latham & Watkins LLP 3 3.09 3,156 62 2 4.04 -0.95 Jones Day 3 1.50 1,534 69 4 3.48 -1.98

Ropes & Gray LLP 4 2.15 2,203 34 48 0.54 1.62 Latham & Watkins LLP 4 3.09 3,156 62 3 4.04 -0.95

Morgan Lewis & Bockius LLP 5 2.08 2,123 40 26 1.01 1.06 McGuireWoods LLP 5 1.75 1,788 61 5 0.73 1.02

Paul Weiss Rifkind Wharton & Garrison LLP 6 2.04 2,089 25 41 0.61 1.43 Orrick Herrington & Sutcliffe LLP 6 1.81 1,850 59 2 2.95 -1.14

Sidley Austin LLP 7 1.98 2,029 53 45 0.58 1.40 Sidley Austin LLP 7 1.98 2,029 53 9 0.58 1.40

Cooley LLP 8 1.94 1,982 29 6 1.82 0.12 Morgan Lewis & Bockius LLP 8 2.08 2,123 40 7 1.01 1.06

Weil Gotshal & Manges LLP 9 1.88 1,926 22 8 1.74 0.14 DLA Piper Global 9 1.30 1,326 38 76 - 1.29

Orrick Herrington & Sutcliffe LLP 10 1.81 1,850 59 4 2.95 -1.14 McDermott Will & Emery LLP Inc 10 0.95 973 36 15 0.66 0.29

Fenwick & West LLP 11 1.80 1,843 18 36 0.68 1.12 Willkie Farr & Gallagher LLP 11 0.58 598 35 17 1.38 -0.79

McGuireWoods LLP 12 1.75 1,788 61 33 0.73 1.02 Ropes & Gray LLP 12 2.15 2,203 34 8 0.54 1.62

Davis Polk & Wardwell LLP 13 1.53 1,565 15 9 1.59 -0.06 Cooley LLP 13 1.94 1,982 29 9 1.82 0.12

Jones Day 14 1.50 1,534 69 3 3.48 -1.98 Wilson Sonsini Goodrich & Rosati PC 14 0.65 664 28 15 0.60 0.05

Cleary Gottlieb Steen & Hamilton LLP 15 1.44 1,471 13 58 0.46 0.98 Paul Weiss Rifkind Wharton & Garrison LLP 15 2.04 2,089 25 19 0.61 1.43

White & Case LLP 16 1.36 1,395 13 22 1.23 0.13 Weil Gotshal & Manges LLP 16 1.88 1,926 22 13 1.74 0.14

Sullivan & Cromwell LLP 17 1.35 1,385 18 46 0.57 0.78 Paul Hastings LLP 16 0.85 865 22 21 0.86 -0.02

Simpson Thacher & Bartlett LLP 18 1.34 1,371 21 12 1.50 -0.16 Simpson Thacher & Bartlett LLP 18 1.34 1,371 21 20 1.50 -0.16

Skadden Arps Slate Meagher & Flom LLP 19 1.30 1,327 15 7 1.77 -0.47 Gibson Dunn & Crutcher LLP 19 1.07 1,096 20 23 1.82 -0.75

DLA Piper Global 20 1.30 1,326 38 184 - 1.29 Winston & Strawn LLC 19 0.48 488 20 35 1.05 -0.58

TOTAL 102,299 5,003 TOTAL 102,299 5,003

US Mid-Market (Up to $250 mln) 01/01/2020 - 03/31/2020 US Mid-Market by Deal Count (Up to $250 mln) 01/01/2020 - 03/31/2020

Goodwin Procter LLP 1 2.92 2,082 94 11 1.06 1.86 Goodwin Procter LLP 1 2.92 2,082 94 11 1.06 1.86

Paul Weiss Rifkind Wharton & Garrison LLP 2 2.38 1,695 24 47 0.42 1.96 Kirkland & Ellis LLP 2 0.71 506 72 1 2.80 -2.09

Latham & Watkins LLP 3 2.25 1,601 58 1 3.57 -1.33 Jones Day 3 1.64 1,166 68 4 2.35 -0.71

Orrick Herrington & Sutcliffe LLP 4 1.95 1,388 58 2 3.29 -1.34 Latham & Watkins LLP 4 2.25 1,601 58 3 3.57 -1.33

Jones Day 5 1.64 1,166 68 4 2.35 -0.71 Orrick Herrington & Sutcliffe LLP 4 1.95 1,388 58 2 3.29 -1.34

Davis Polk & Wardwell LLP 6 1.59 1,132 14 63 0.29 1.30 McGuireWoods LLP 4 0.93 661 58 5 1.06 -0.13

Cooley LLP 7 1.17 833 26 6 1.75 -0.58 Sidley Austin LLP 7 0.94 669 50 9 0.85 0.09

Hogan Lovells US LLP 8 1.05 745 18 9 1.26 -0.22 Morgan Lewis & Bockius LLP 8 0.99 709 37 7 1.47 -0.48

Morgan Lewis & Bockius LLP 9 0.99 709 37 7 1.47 -0.48 DLA Piper Global 9 0.98 696 36 73 0.01 0.96

DLA Piper Global 10 0.98 696 36 171 0.01 0.96 Willkie Farr & Gallagher LLP 10 0.84 598 35 17 0.69 0.15

Gibson Dunn & Crutcher LLP 11 0.98 696 19 8 1.36 -0.39 McDermott Will & Emery LLP Inc 10 0.73 523 35 16 0.54 0.20

Ropes & Gray LLP 12 0.95 679 30 59 0.33 0.63 Ropes & Gray LLP 12 0.95 679 30 8 0.33 0.63

Debevoise & Plimpton LLP 13 0.95 675 14 26 0.73 0.22 Wilson Sonsini Goodrich & Rosati PC 13 0.47 334 27 15 0.87 -0.40

Fenwick & West LLP 14 0.94 670 15 16 0.99 -0.05 Cooley LLP 14 1.17 833 26 11 1.75 -0.58

Sidley Austin LLP 15 0.94 669 50 19 0.85 0.09 Paul Weiss Rifkind Wharton & Garrison LLP 15 2.38 1,695 24 18 0.42 1.96

McGuireWoods LLP 16 0.93 661 58 12 1.06 -0.13 Winston & Strawn LLC 16 0.68 488 20 39 0.47 0.22

Covington & Burling LLP 17 0.92 656 14 51 0.39 0.53 Paul Hastings LLP 16 0.41 290 20 20 0.80 -0.39

Greenberg Traurig LLP 18 0.87 619 9 102 0.16 0.71 Gibson Dunn & Crutcher LLP 18 0.98 696 19 25 1.36 -0.39

Willkie Farr & Gallagher LLP 19 0.84 598 35 30 0.69 0.15 Simpson Thacher & Bartlett LLP 18 0.71 508 19 21 0.54 0.17

Wachtell Lipton Rosen & Katz 20 0.77 549 8 180 - 0.77 Hogan Lovells US LLP 20 1.05 745 18 10 1.26 -0.22

TOTAL 71,255 4,919 TOTAL 71,255 4,919

FIRM

2020 2019MKT SHR

CHANGE FIRM

2020

VOLUME USD

(Mln)

DEAL

COUNT RANK

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(%)

2019MKT SHR

CHANGE RANK

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2020

5

Canada Mid-Market (Up to $500 mln) 01/01/2020 - 03/31/2020 Canada Mid-Market by Deal Count (Up to $500 mln) 01/01/2020 - 03/31/2020

McCarthy Tetrault LLP 1 5.34 625 15 34 1.55 3.79 Gowling WLG 1 1.48 174 16 1 3.18 -1.69

Morgan Lewis & Bockius LLP 2 5.17 605 5 64 0.13 5.04 McCarthy Tetrault LLP 2 5.34 625 15 3 1.55 3.79

Skadden Arps Slate Meagher & Flom LLP 3 4.61 540 5 29 2.21 2.40 Blake Cassels & Graydon LLP 3 2.06 241 11 2 13.79 -11.74

Norton Rose Fulbright LLP 4 4.37 511 7 22 2.84 1.53 Davies Ward Phillips & Vineberg LLP 3 1.92 225 11 13 6.76 -4.84

Mayer Brown LLP 5 3.85 450 2 38 1.01 2.84 Fasken Martineau DuMoulin LLP 3 1.10 129 11 3 2.93 -1.83

Sidley Austin LLP 5 3.85 450 5 - - 3.85 Osler Hoskin & Harcourt LLP 6 1.12 131 9 3 5.94 -4.82

McDermott Will & Emery LLP Inc 5 3.85 450 2 - - 3.85 Miller Thomson LLP 7 1.07 125 8 6 0.05 1.02

Goodwin Procter LLP 8 3.42 400 6 60 0.23 3.19 Bennett Jones LLP 7 0.77 90 8 14 5.40 -4.63

White & Case LLP 9 2.97 348 4 70 - 2.97 Kirkland & Ellis LLP 7 - - 8 8 3.92 -3.92

Nishimura & Asahi 10 2.94 344 2 - - 2.94 Norton Rose Fulbright LLP 10 4.37 511 7 7 2.84 1.53

McGuireWoods LLP 11 2.94 344 3 70 - 2.94 Weil Gotshal & Manges LLP 10 2.91 340 7 17 3.16 -0.25

Cyril Amarchand Mangaldas 12 2.92 342 4 - - 2.92 Torys LLP 10 2.01 235 7 8 6.00 -3.99

S&R Associates 12 2.92 342 4 - - 2.92 Goodwin Procter LLP 13 3.42 400 6 23 0.23 3.19

Weil Gotshal & Manges LLP 14 2.91 340 7 13 3.16 -0.25 Morgan Lewis & Bockius LLP 14 5.17 605 5 36 0.13 5.04

Pillsbury Winthrop Shaw Pittman LLP 14 2.91 340 3 - - 2.91 Skadden Arps Slate Meagher & Flom LLP 14 4.61 540 5 23 2.21 2.40

Linklaters LLP 16 2.73 319 3 - - 2.73 Sidley Austin LLP 14 3.85 450 5 - - 3.85

Wachtell Lipton Rosen & Katz 17 2.61 306 1 - - 2.61 Cassels Brock & Blackwell LLP 14 2.57 301 5 10 0.58 1.99

Faegre Drinker Biddle & Reath LLP 17 2.61 306 1 - - 2.61 Latham & Watkins LLP 14 - - 5 17 4.75 -4.75

Cassels Brock & Blackwell LLP 19 2.57 301 5 46 0.58 1.99 White & Case LLP 19 2.97 348 4 36 - 2.97

Blake Cassels & Graydon LLP 20 2.06 241 11 1 13.79 -11.74 Cyril Amarchand Mangaldas 19 2.92 342 4 - - 2.92

TOTAL 11,703 881 TOTAL 11,703 881

Canada Mid-Market (Up to $250 mln) 01/01/2020 - 03/31/2020 Canada Mid-Market by Deal Count (Up to $250 mln) 01/01/2020 - 03/31/2020

White & Case LLP 1 3.99 348 4 62 - 3.99 Gowling WLG 1 1.99 174 16 1 4.73 -2.74

Nishimura & Asahi 2 3.95 344 2 - - 3.95 McCarthy Tetrault LLP 2 1.47 128 14 3 2.31 -0.83

Cyril Amarchand Mangaldas 3 3.93 342 4 - - 3.93 Blake Cassels & Graydon LLP 3 2.76 241 11 2 9.92 -7.16

S&R Associates 3 3.93 342 4 - - 3.93 Davies Ward Phillips & Vineberg LLP 3 2.58 225 11 14 3.55 -0.97

Cassels Brock & Blackwell LLP 5 3.45 301 5 30 0.87 2.59 Fasken Martineau DuMoulin LLP 3 1.48 129 11 3 4.36 -2.88

Blake Cassels & Graydon LLP 6 2.76 241 11 1 9.92 -7.16 Osler Hoskin & Harcourt LLP 6 1.50 131 9 5 2.12 -0.62

Torys LLP 7 2.70 235 7 17 1.74 0.96 Miller Thomson LLP 7 1.44 125 8 6 0.08 1.36

Stikeman Elliott LLP 8 2.59 226 4 4 3.91 -1.32 Bennett Jones LLP 7 1.03 90 8 14 3.40 -2.36

Lawson Lundell LLP 8 2.59 226 1 62 - 2.59 Kirkland & Ellis LLP 7 - - 8 8 2.54 -2.54

Davies Ward Phillips & Vineberg LLP 10 2.58 225 11 6 3.55 -0.97 Torys LLP 10 2.70 235 7 10 1.74 0.96

DLA Piper Global 11 2.56 223 3 - - 2.56 Norton Rose Fulbright LLP 11 0.17 15 6 7 1.76 -1.59

Baker & McKenzie LLP 12 2.27 198 1 62 - 2.27 Weil Gotshal & Manges LLP 11 - - 6 20 - -

Dentons 12 2.27 198 1 49 0.25 2.03 Cassels Brock & Blackwell LLP 13 3.45 301 5 8 0.87 2.59

Gowling WLG 14 1.99 174 16 2 4.73 -2.74 Goodwin Procter LLP 13 0.69 60 5 20 0.34 0.35

Aird & Berlis LLP 15 1.87 163 1 56 0.14 1.73 Latham & Watkins LLP 13 - - 5 20 2.42 -2.42

Morgan Lewis & Bockius LLP 16 1.78 155 4 52 0.19 1.59 White & Case LLP 16 3.99 348 4 29 - 3.99

AZB & Partners 17 1.73 151 1 58 0.07 1.66 Cyril Amarchand Mangaldas 16 3.93 342 4 - - 3.93

Baker Botts LLP 18 1.62 141 1 61 0.01 1.61 S&R Associates 16 3.93 342 4 - - 3.93

Osler Hoskin & Harcourt LLP 19 1.50 131 9 13 2.12 -0.62 Stikeman Elliott LLP 16 2.59 226 4 12 3.91 -1.32

Fasken Martineau DuMoulin LLP 20 1.48 129 11 3 4.36 -2.88 Morgan Lewis & Bockius LLP 16 1.78 155 4 29 0.19 1.59

TOTAL 8,710 873 TOTAL 8,710 873

FIRM

2020 2019MKT SHR

CHANGE FIRM

2020

VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%)

2019MKT SHR

CHANGE RANK

MKT SHR

(%) VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%) RANK

MKT SHR

(%)

2019MKT SHR

CHANGE FIRM

2020

VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%) FIRM

2019MKT SHR

CHANGE RANK

MKT SHR

(%) VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%) RANK

MKT SHR

(%)

2020

6

Western & Eastern Europe (Up to $500 mln) 01/01/2020 - 03/31/2020 Western & Eastern Europe by Deal Count (Up to $500 mln) 01/01/2020 - 03/31/2020

White & Case LLP 1 3.39 2,191 33 4 3.50 -0.10 Latham & Watkins LLP 1 3.17 2,046 45 6 3.07 0.10

Clifford Chance LLP 2 3.39 2,190 30 5 3.20 0.20 Jones Day 2 2.26 1,458 40 3 2.45 -0.19

Latham & Watkins LLP 3 3.17 2,046 45 6 3.07 0.10 DLA Piper Global 3 1.34 863 36 65 0.01 1.33

Cleary Gottlieb Steen & Hamilton LLP 4 2.52 1,624 12 7 2.74 -0.23 Orrick Herrington & Sutcliffe LLP 4 1.69 1,094 34 2 2.53 -0.83

Allen & Overy LLP 5 2.44 1,578 31 1 4.39 -1.95 White & Case LLP 5 3.39 2,191 33 6 3.50 -0.10

Hogan Lovells US LLP 6 2.29 1,478 26 12 2.14 0.15 Allen & Overy LLP 6 2.44 1,578 31 5 4.39 -1.95

Jones Day 7 2.26 1,458 40 9 2.45 -0.19 Clifford Chance LLP 7 3.39 2,190 30 11 3.20 0.20

Goodwin Procter LLP 8 1.89 1,218 27 69 0.43 1.45 Goodwin Procter LLP 8 1.89 1,218 27 35 0.43 1.45

Weil Gotshal & Manges LLP 9 1.87 1,205 14 24 1.24 0.62 Dentons 8 0.70 451 27 13 1.65 -0.96

Orrick Herrington & Sutcliffe LLP 10 1.69 1,094 34 8 2.53 -0.83 Hogan Lovells US LLP 10 2.29 1,478 26 8 2.14 0.15

Covington & Burling LLP 11 1.68 1,086 10 26 1.07 0.61 Cuatrecasas 10 0.08 49 26 17 0.75 -0.67

Slaughter and May 12 1.57 1,015 9 28 1.01 0.56 Noerr LLP 12 0.34 219 25 15 1.33 -1.00

Paul Weiss Rifkind Wharton & Garrison LLP 13 1.53 987 8 41 0.73 0.79 CMS Legal Services EEIG/EWIV 13 0.70 450 24 1 3.67 -2.98

Morgan Lewis & Bockius LLP 14 1.42 914 11 17 1.40 0.02 Linklaters LLP 14 1.26 817 23 9 1.81 -0.55

DLA Piper Global 15 1.34 863 36 148 0.01 1.33 Kirkland & Ellis LLP 15 1.27 823 20 14 2.17 -0.90

Sidley Austin LLP 16 1.31 847 17 77 0.31 1.00 Freshfields Bruckhaus Deringer LLP 15 1.04 675 20 10 3.66 -2.62

Kirkland & Ellis LLP 17 1.27 823 20 11 2.17 -0.90 Sidley Austin LLP 17 1.31 847 17 44 0.31 1.00

Ropes & Gray LLP 18 1.27 818 9 74 0.35 0.92 Perez-Llorca 17 0.76 492 17 18 0.53 0.23

Linklaters LLP 19 1.26 817 23 14 1.81 -0.55 McDermott Will & Emery LLP Inc 17 0.62 403 17 40 0.20 0.42

Fenwick & West LLP 20 1.24 802 6 57 0.54 0.70 Weil Gotshal & Manges LLP 20 1.87 1,205 14 21 1.24 0.62

TOTAL 64,580 3,138 TOTAL 64,580 3,138

Western & Eastern Europe (Up to $250 mln) 01/01/2020 - 03/31/2020 Western & Eastern Europe by Deal Count (Up to $250 mln) 01/01/2020 - 03/31/2020

Latham & Watkins LLP 1 3.00 1,277 43 11 1.81 1.19 Latham & Watkins LLP 1 3.00 1,277 43 6 1.81 1.19

Orrick Herrington & Sutcliffe LLP 2 2.57 1,094 34 2 2.89 -0.31 Jones Day 2 2.56 1,090 39 3 2.20 0.36

Jones Day 3 2.56 1,090 39 5 2.20 0.36 DLA Piper Global 3 1.15 488 35 64 0.02 1.13

Hogan Lovells US LLP 4 1.93 820 24 19 1.03 0.90 Orrick Herrington & Sutcliffe LLP 4 2.57 1,094 34 1 2.89 -0.31

Clifford Chance LLP 5 1.49 634 26 4 2.79 -1.30 Allen & Overy LLP 5 0.90 382 28 5 3.95 -3.05

Goodwin Procter LLP 6 1.47 626 25 37 0.63 0.84 White & Case LLP 5 0.39 166 28 8 1.86 -1.47

Slaughter and May 7 1.32 561 8 154 - 1.32 Dentons 7 1.06 451 27 13 0.97 0.09

Paul Weiss Rifkind Wharton & Garrison LLP 8 1.30 553 7 58 0.39 0.91 Clifford Chance LLP 8 1.49 634 26 11 2.79 -1.30

Linklaters LLP 9 1.17 498 22 12 1.72 -0.56 Cuatrecasas 8 0.12 49 26 17 0.39 -0.28

Baker & McKenzie LLP 10 1.16 494 9 3 2.80 -1.64 Goodwin Procter LLP 10 1.47 626 25 32 0.63 0.84

DLA Piper Global 11 1.15 488 35 137 0.02 1.13 Noerr LLP 10 0.51 219 25 14 1.18 -0.67

Dentons 12 1.06 451 27 20 0.97 0.09 Hogan Lovells US LLP 12 1.93 820 24 6 1.03 0.90

CMS Legal Services EEIG/EWIV 13 1.06 450 24 15 1.18 -0.13 CMS Legal Services EEIG/EWIV 12 1.06 450 24 1 1.18 -0.13

Morgan Lewis & Bockius LLP 14 1.06 450 10 17 1.06 - Linklaters LLP 14 1.17 498 22 8 1.72 -0.56

Ashurst LLP 15 1.00 425 11 83 0.23 0.77 Freshfields Bruckhaus Deringer LLP 15 0.07 32 18 12 2.03 -1.95

McDermott Will & Emery LLP Inc 16 0.95 403 17 73 0.29 0.66 McDermott Will & Emery LLP Inc 16 0.95 403 17 36 0.29 0.66

Allen & Overy LLP 17 0.90 382 28 1 3.95 -3.05 Kirkland & Ellis LLP 16 - - 17 14 1.88 -1.88

Covington & Burling LLP 18 0.89 378 8 24 0.89 - Sidley Austin LLP 18 0.84 357 16 40 0.45 0.39

Weil Gotshal & Manges LLP 19 0.88 375 12 31 0.74 0.14 Perez-Llorca 18 0.18 76 16 17 0.77 -0.59

Sidley Austin LLP 20 0.84 357 16 46 0.45 0.39 Wilson Sonsini Goodrich & Rosati PC 20 0.65 278 14 92 - 0.65

TOTAL 42,565 3,077 TOTAL 42,565 3,077

FIRM

2020 2019MKT SHR

CHANGE FIRM

2020

VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%)

2019MKT SHR

CHANGE RANK

MKT SHR

(%) VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%) RANK

MKT SHR

(%)

2019MKT SHR

CHANGE FIRM

2020

VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%) FIRM

2019MKT SHR

CHANGE RANK

MKT SHR

(%) VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%) RANK

MKT SHR

(%)

2020

7

UK Mid-Market (Up to $500 mln) 01/01/2020 - 03/31/2020 UK Mid-Market by Deal Count (Up to $500 mln) 01/01/2020 - 03/31/2020

Jones Day 1 4.03 1,070 12 10 2.75 1.28 Orrick Herrington & Sutcliffe LLP 1 2.22 589 13 4 2.79 -0.57

Covington & Burling LLP 2 3.23 858 7 14 1.93 1.30 Jones Day 2 4.03 1,070 12 3 2.75 1.28

Fenwick & West LLP 3 3.02 802 4 78 0.08 2.94 Allen & Overy LLP 2 1.46 387 12 5 6.01 -4.55

Weil Gotshal & Manges LLP 4 2.97 790 7 48 0.49 2.49 DLA Piper Global 2 1.00 265 12 87 0.03 0.97

Ropes & Gray LLP 5 2.82 750 7 53 0.46 2.36 Latham & Watkins LLP 5 1.52 404 11 7 1.73 -0.21

Hogan Lovells US LLP 6 2.57 683 7 6 3.32 -0.74 Sidley Austin LLP 6 2.44 648 10 25 - 2.44

Sidley Austin LLP 7 2.44 648 10 100 - 2.44 Freshfields Bruckhaus Deringer LLP 6 1.35 358 10 7 5.63 -4.28

Orrick Herrington & Sutcliffe LLP 8 2.22 589 13 9 2.79 -0.57 Kirkland & Ellis LLP 6 1.28 340 10 6 2.94 -1.66

Slaughter and May 9 2.11 561 8 11 2.55 -0.44 Goodwin Procter LLP 6 0.85 226 10 32 0.13 0.72

Clifford Chance LLP 10 1.91 506 8 15 1.92 -0.02 White & Case LLP 10 1.46 387 9 20 0.97 0.48

Holland & Knight LLP 11 1.85 490 1 - - 1.85 Squire Patton Boggs US LLP 10 0.27 71 9 9 2.12 -1.85

O'Melveny & Myers LLP 11 1.85 490 2 68 0.19 1.65 Slaughter and May 12 2.11 561 8 21 2.55 -0.44

Simpson Thacher & Bartlett LLP 13 1.57 418 5 36 1.01 0.56 Clifford Chance LLP 12 1.91 506 8 17 1.92 -0.02

Herbert Smith Freehills LLP 14 1.56 415 6 83 0.05 1.51 Covington & Burling LLP 14 3.23 858 7 45 1.93 1.30

Latham & Watkins LLP 15 1.52 404 11 17 1.73 -0.21 Weil Gotshal & Manges LLP 14 2.97 790 7 21 0.49 2.49

McGuireWoods LLP 16 1.49 396 2 44 0.65 0.84 Ropes & Gray LLP 14 2.82 750 7 32 0.46 2.36

Allen & Overy LLP 17 1.46 387 12 2 6.01 -4.55 Hogan Lovells US LLP 14 2.57 683 7 9 3.32 -0.74

White & Case LLP 18 1.46 387 9 38 0.97 0.48 CMS Legal Services EEIG/EWIV 14 0.72 192 7 2 6.73 -6.01

Linklaters LLP 19 1.43 379 5 100 - 1.43 Herbert Smith Freehills LLP 19 1.56 415 6 14 0.05 1.51

Cravath Swaine & Moore LLP 20 1.41 375 4 - - 1.41 Dentons 19 0.11 29 6 12 1.26 -1.15

TOTAL 26,558 1,203 TOTAL 26,558 1,203

UK Mid-Market (Up to $250 mln) 01/01/2020 - 03/31/2020 UK Mid-Market by Deal Count (Up to $250 mln) 01/01/2020 - 03/31/2020

Jones Day 1 3.96 701 11 2 4.13 -0.16 Orrick Herrington & Sutcliffe LLP 1 3.33 589 13 3 4.19 -0.86

Orrick Herrington & Sutcliffe LLP 2 3.33 589 13 1 4.19 -0.86 DLA Piper Global 2 1.50 265 12 83 0.04 1.46

Slaughter and May 3 3.17 561 8 92 - 3.17 Jones Day 3 3.96 701 11 2 4.13 -0.16

Hogan Lovells US LLP 4 1.84 325 6 14 1.84 - Allen & Overy LLP 3 0.35 61 11 5 2.69 -2.35

Morgan Lewis & Bockius LLP 5 1.84 325 3 9 2.07 -0.23 Goodwin Procter LLP 5 1.27 226 10 29 0.20 1.08

Norton Rose Fulbright LLP 6 1.72 304 5 57 0.20 1.51 Latham & Watkins LLP 5 0.31 54 10 6 2.60 -2.29

Weil Gotshal & Manges LLP 7 1.70 300 6 32 0.73 0.97 Sidley Austin LLP 7 0.89 158 9 23 - 0.89

DLA Piper Global 8 1.50 265 12 79 0.04 1.46 Squire Patton Boggs US LLP 7 0.40 71 9 10 0.34 0.06

Davis Polk & Wardwell LLP 9 1.41 250 1 55 0.28 1.13 Kirkland & Ellis LLP 7 - - 9 6 2.89 -2.89

Goodwin Procter LLP 10 1.27 226 10 58 0.20 1.08 Freshfields Bruckhaus Deringer LLP 7 - - 9 10 2.24 -2.24

Ashurst LLP 11 1.16 205 3 45 0.59 0.56 Slaughter and May 11 3.17 561 8 27 - 3.17

CMS Legal Services EEIG/EWIV 12 1.08 192 7 15 1.77 -0.68 White & Case LLP 11 0.21 38 8 19 0.10 0.11

Cyril Amarchand Mangaldas 13 1.05 185 2 28 0.95 0.10 CMS Legal Services EEIG/EWIV 13 1.08 192 7 4 1.77 -0.68

Debevoise & Plimpton LLP 14 0.99 175 5 92 - 0.99 Clifford Chance LLP 13 0.58 103 7 16 2.89 -2.30

Lee & Ko 15 0.92 162 1 - - 0.92 Hogan Lovells US LLP 15 1.84 325 6 10 1.84 -

Taylor Wessing 16 0.90 159 2 - - 0.90 Weil Gotshal & Manges LLP 15 1.70 300 6 19 0.73 0.97

Sidley Austin LLP 17 0.89 158 9 92 - 0.89 Dentons 15 0.16 29 6 9 1.89 -1.73

Covington & Burling LLP 18 0.84 149 5 21 1.18 -0.34 Travers Smith 15 - - 6 10 0.03 -0.03

Greenberg Traurig LLP 19 0.84 148 1 68 0.10 0.73 Norton Rose Fulbright LLP 19 1.72 304 5 19 0.20 1.51

Recap Partners 19 0.84 148 1 - - 0.84 Debevoise & Plimpton LLP 19 0.99 175 5 83 - 0.99

TOTAL 17,698 1,178 TOTAL 17,698 1,178

FIRM

2020 2019MKT SHR

CHANGE FIRM

2020

VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%)

2019MKT SHR

CHANGE RANK

MKT SHR

(%) VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%) RANK

MKT SHR

(%)

MKT SHR

CHANGE FIRM

2020

VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%) FIRM

2019MKT SHR

CHANGE RANK

MKT SHR

(%) VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%) RANK

MKT SHR

(%)

2020 2019

8

APAC ex Japan Mid-Market (Up to $500 mln) 01/01/2020 - 03/31/2020 APAC ex Japan Mid-Market by Deal Count (Up to $500 mln) 01/01/2020 - 03/31/2020

Cyril Amarchand Mangaldas 1 2.98 2,288 30 17 1.23 1.74 Cyril Amarchand Mangaldas 1 2.98 2,288 30 7 1.23 1.74

Kim & Chang 2 2.87 2,206 18 10 1.47 1.40 Kim & Chang 2 2.87 2,206 18 4 1.47 1.40

Slaughter and May 3 2.28 1,751 7 37 0.53 1.74 Jones Day 2 1.43 1,102 18 25 0.75 0.69

Trilegal 4 1.74 1,336 17 8 1.57 0.17 Khaitan & Co 2 0.66 510 18 1 2.40 -1.73

Shin & Kim 5 1.70 1,303 14 12 1.40 0.29 Trilegal 5 1.74 1,336 17 15 1.57 0.17

Nishimura & Asahi 6 1.68 1,292 8 24 1.10 0.58 AZB & Partners 5 0.97 748 17 2 3.58 -2.61

Jones Day 7 1.43 1,102 18 29 0.75 0.69 Herbert Smith Freehills LLP 7 0.63 482 16 9 1.38 -0.75

Allens 8 1.42 1,090 9 28 0.78 0.64 Lee & Ko 8 1.40 1,077 15 16 0.42 0.98

Lee & Ko 9 1.40 1,077 15 51 0.42 0.98 Shin & Kim 9 1.70 1,303 14 9 1.40 0.29

S&R Associates 10 1.22 937 7 44 0.46 0.76 Fangda Partners 9 1.07 824 14 5 1.56 -0.49

Freshfields Bruckhaus Deringer LLP 11 1.14 878 6 27 0.78 0.36 Latham & Watkins LLP 11 1.12 859 12 13 1.79 -0.67

Bae Kim & Lee 12 1.12 865 10 43 0.46 0.66 Minter Ellison 12 1.02 786 11 39 0.28 0.75

Latham & Watkins LLP 13 1.12 859 12 5 1.79 -0.67 Bae Kim & Lee 13 1.12 865 10 27 0.46 0.66

Kirkland & Ellis LLP 14 1.10 844 8 64 0.33 0.77 DLA Piper Global 13 1.05 809 10 96 0.01 1.04

Clifford Chance LLP 15 1.09 835 9 4 2.12 -1.03 HWL Ebsworth Lawyers 13 0.18 140 10 32 0.11 0.07

Fangda Partners 16 1.07 824 14 9 1.56 -0.49 Allens 16 1.42 1,090 9 24 0.78 0.64

DLA Piper Global 17 1.05 809 10 139 0.01 1.04 Clifford Chance LLP 16 1.09 835 9 16 2.12 -1.03

Minter Ellison 18 1.02 786 11 69 0.28 0.75 King & Wood Mallesons 16 0.10 76 9 3 1.21 -1.11

AZB & Partners 19 0.97 748 17 1 3.58 -2.61 Yoon & Yang LLC 16 0.09 69 9 16 0.34 -0.25

Davis Polk & Wardwell LLP 20 0.96 738 3 - - 0.96 Nishimura & Asahi 20 1.68 1,292 8 31 1.10 0.58

TOTAL 76,866 2,927 TOTAL 76,866 2,927

APAC ex Japan Mid-Market (Up to $250 mln) 01/01/2020 - 03/31/2020 APAC ex Japan Mid-Market by Deal Count (Up to $250 mln) 01/01/2020 - 03/31/2020

Cyril Amarchand Mangaldas 1 2.44 1,381 27 15 1.06 1.38 Cyril Amarchand Mangaldas 1 2.44 1,381 27 7 1.06 1.38

Kim & Chang 2 1.82 1,031 15 1 2.11 -0.29 Khaitan & Co 2 0.90 510 18 1 1.82 -0.92

Bae Kim & Lee 3 1.53 865 10 28 0.66 0.86 Jones Day 3 1.48 838 17 23 0.69 0.79

Jones Day 4 1.48 838 17 25 0.69 0.79 AZB & Partners 3 1.32 748 17 3 1.65 -0.33

DLA Piper Global 5 1.43 809 10 125 0.02 1.41 Herbert Smith Freehills LLP 5 0.85 482 16 12 0.42 0.43

Minter Ellison 6 1.39 786 11 46 0.40 0.99 Kim & Chang 6 1.82 1,031 15 4 2.11 -0.29

AZB & Partners 7 1.32 748 17 5 1.65 -0.33 Trilegal 6 1.29 731 15 17 1.05 0.24

Trilegal 8 1.29 731 15 16 1.05 0.24 Lee & Ko 8 1.13 642 14 15 0.60 0.53

Allens 9 1.24 700 8 34 0.58 0.66 Fangda Partners 9 0.92 524 13 5 1.08 -0.16

Yulchon LLC 10 1.23 697 7 81 0.15 1.08 Shin & Kim 10 1.06 599 12 11 1.05 0.01

Lee & Ko 11 1.13 642 14 33 0.60 0.53 Minter Ellison 11 1.39 786 11 39 0.40 0.99

Shin & Kim 12 1.06 599 12 17 1.05 0.01 Latham & Watkins LLP 11 1.03 584 11 12 1.50 -0.46

Latham & Watkins LLP 13 1.03 584 11 6 1.50 -0.46 Bae Kim & Lee 13 1.53 865 10 23 0.66 0.86

Fangda Partners 14 0.92 524 13 13 1.08 -0.16 DLA Piper Global 13 1.43 809 10 93 0.02 1.41

Khaitan & Co 15 0.90 510 18 2 1.82 -0.92 HWL Ebsworth Lawyers 13 0.25 140 10 29 0.15 0.09

Herbert Smith Freehills LLP 16 0.85 482 16 43 0.42 0.43 King & Wood Mallesons 16 0.13 76 9 2 1.74 -1.61

Ashurst LLP 17 0.83 472 8 41 0.46 0.37 Yoon & Yang LLC 16 0.12 69 9 15 0.48 -0.36

LAB Partners 18 0.77 437 4 72 0.17 0.61 Allens 18 1.24 700 8 20 0.58 0.66

Slaughter and May 19 0.75 427 4 22 0.77 -0.02 Ashurst LLP 18 0.83 472 8 20 0.46 0.37

Clifford Chance LLP 20 0.67 382 8 8 1.36 -0.68 Clifford Chance LLP 18 0.67 382 8 23 1.36 -0.68

TOTAL 56,607 2,868 TOTAL 56,607 2,868

FIRM

2020 2019MKT SHR

CHANGE FIRM

2020

VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%) RANK

MKT SHR

(%) VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%) RANK

MKT SHR

(%)

FIRM

2020

VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%)

2019MKT SHR

CHANGE

FIRM

2019

MKT SHR

CHANGE RANK

MKT SHR

(%)

VOLUME USD

(Mln)

DEAL

COUNT RANK

MKT SHR

(%) RANK

MKT SHR

(%)

2020 2019

MKT SHR

CHANGE

9

Japan Mid-Market (Up to $500 mln) 01/01/2020 - 03/31/2020 Japan Mid-Market by Deal Count (Up to $500 mln) 01/01/2020 - 03/31/2020

Nishimura & Asahi 1 11.36 2,455 33 3 9.61 1.74 Nishimura & Asahi 1 11.36 2,455 33 3 9.61 1.74

Mori Hamada & Matsumoto 2 9.25 1,999 29 1 15.96 -6.71 Nagashima Ohno & Tsunematsu 2 8.35 1,804 30 2 10.94 -2.59

Nagashima Ohno & Tsunematsu 3 8.35 1,804 30 2 10.94 -2.59 Mori Hamada & Matsumoto 3 9.25 1,999 29 1 15.96 -6.71

Anderson Mori & Tomotsune 4 4.13 892 22 4 5.94 -1.82 Anderson Mori & Tomotsune 4 4.13 892 22 4 5.94 -1.82

Clifford Chance LLP 5 3.31 715 3 59 - 3.31 Goodwin Procter LLP 5 2.22 481 7 24 0.20 2.02

Orrick Herrington & Sutcliffe LLP 6 2.91 630 5 8 3.34 -0.42 Jones Day 5 0.42 91 7 15 1.23 -0.81

Morrison & Foerster LLP 7 2.61 565 5 12 2.38 0.23 Orrick Herrington & Sutcliffe LLP 7 2.91 630 5 7 3.34 -0.42

Goodwin Procter LLP 8 2.22 481 7 43 0.20 2.02 Morrison & Foerster LLP 7 2.61 565 5 7 2.38 0.23

Skadden Arps Slate Meagher & Flom LLP 9 1.78 384 2 - - 1.78 TMI Associates 7 1.07 232 5 24 0.11 0.97

Kirkland & Ellis LLP 9 1.78 384 4 - - 1.78 Kirkland & Ellis LLP 10 1.78 384 4 - - 1.78

Pinheiro Neto Advogados 11 1.71 370 1 - - 1.71 Miura & Partners 10 0.80 172 4 24 0.39 0.40

White & Case LLP 12 1.61 348 3 10 3.00 -1.39 Tokyo International Law Office 10 0.18 39 4 - - 0.18

Cooley LLP 13 1.53 330 3 29 0.81 0.72 Clifford Chance LLP 13 3.31 715 3 41 - 3.31

Wilson Sonsini Goodrich & Rosati PC 13 1.53 330 3 59 - 1.53 White & Case LLP 13 1.61 348 3 24 3.00 -1.39

Cleary Gottlieb Steen & Hamilton LLP 15 1.21 262 2 59 - 1.21 Cooley LLP 13 1.53 330 3 11 0.81 0.72

TMI Associates 16 1.07 232 5 50 0.11 0.97 Wilson Sonsini Goodrich & Rosati PC 13 1.53 330 3 24 - 1.53

Herbert Smith Freehills LLP 17 0.97 210 3 44 0.18 0.79 Herbert Smith Freehills LLP 13 0.97 210 3 15 0.18 0.79

McCullough Robertson Lawyers 18 0.86 185 1 - - 0.86 Latham & Watkins LLP 13 0.48 105 3 6 3.87 -3.38

Simmons & Simmons LLP 19 0.85 184 1 14 2.28 -1.43 O'Melveny & Myers LLP 13 0.37 81 3 7 2.69 -2.31

Allen & Overy LLP 19 0.85 184 2 38 0.33 0.52 Morgan Lewis & Bockius LLP 13 0.13 28 3 41 1.09 -0.96

TOTAL 21,611 1,179 TOTAL 21,611 1,179

Japan Mid-Market (Up to $250 mln) 01/01/2020 - 03/31/2020 Japan Mid-Market by Deal Count (Up to $250 mln) 01/01/2020 - 03/31/2020

Nagashima Ohno & Tsunematsu 1 6.45 965 28 1 11.66 -5.21 Nishimura & Asahi 1 5.92 886 29 3 9.81 -3.88

Mori Hamada & Matsumoto 2 6.39 955 26 2 11.57 -5.18 Nagashima Ohno & Tsunematsu 2 6.45 965 28 2 11.66 -5.21

Nishimura & Asahi 3 5.92 886 29 4 9.81 -3.88 Mori Hamada & Matsumoto 3 6.39 955 26 1 11.57 -5.18

Morrison & Foerster LLP 4 3.78 565 5 15 1.77 2.01 Anderson Mori & Tomotsune 4 3.60 538 21 4 10.36 -6.77

Anderson Mori & Tomotsune 5 3.60 538 21 3 10.36 -6.77 Jones Day 5 0.61 91 7 12 2.15 -1.54

White & Case LLP 6 2.33 348 3 16 1.70 0.63 Goodwin Procter LLP 6 1.46 218 6 23 0.35 1.10

TMI Associates 7 1.55 232 5 44 0.18 1.37 Morrison & Foerster LLP 7 3.78 565 5 7 1.77 2.01

Goodwin Procter LLP 8 1.46 218 6 36 0.35 1.10 TMI Associates 7 1.55 232 5 23 0.18 1.37

Herbert Smith Freehills LLP 9 1.41 210 3 37 0.32 1.09 Miura & Partners 9 1.15 172 4 23 0.69 0.47

McCullough Robertson Lawyers 10 1.24 185 1 - - 1.24 Orrick Herrington & Sutcliffe LLP 9 1.12 168 4 7 2.28 -1.16

Simmons & Simmons LLP 11 1.23 184 1 - - 1.23 Tokyo International Law Office 9 0.26 39 4 - - 0.26

Allen & Overy LLP 11 1.23 184 2 29 0.58 0.66 White & Case LLP 12 2.33 348 3 37 1.70 0.63

Morales & Besa Ltda 11 1.23 184 1 - - 1.23 Herbert Smith Freehills LLP 12 1.41 210 3 12 0.32 1.09

Miura & Partners 14 1.15 172 4 27 0.69 0.47 Latham & Watkins LLP 12 0.70 105 3 6 3.20 -2.50

Orrick Herrington & Sutcliffe LLP 15 1.12 168 4 8 2.28 -1.16 O'Melveny & Myers LLP 12 0.54 81 3 7 1.14 -0.60

Baker Botts LLP 16 0.94 141 1 - - 0.94 Morgan Lewis & Bockius LLP 12 0.19 28 3 37 1.90 -1.72

Torys LLP 16 0.94 141 1 53 - 0.94 Kirkland & Ellis LLP 12 - - 3 - - -

Cyril Amarchand Mangaldas 18 0.92 138 1 45 0.14 0.78 Allen & Overy LLP 18 1.23 184 2 37 0.58 0.66

Sato Sogo 19 0.83 124 1 21 1.24 -0.41 Lee & Li 18 0.60 90 2 12 2.55 -1.94

Winston & Strawn LLC 20 0.72 107 1 - - 0.72 Hogan Lovells US LLP 18 0.06 9 2 12 0.27 -0.21

TOTAL 14,949 1,161 TOTAL 14,949 1,161

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Bloomberg League Criteria

Announced Global League Tables are based upon announced total values, unless otherwise stated in the title. Non-US dollar values are converted to US dollars at the time of announcement.

Credit will be given to transactions in which Bloomberg classifies as mergers, acquisitions, divestitures, self-tenders, or spin-offs.

Regional and industry League Tables will be based on the country of risk and industry of the ultimate publicly traded parent of a privately held company where applicable.

Advisors to any member of an investor group, consortium, or joint venture are eligible for full credit.

Advisory fees hold no weight over advisory credit.

General Database Criteria

A transaction is considered to have been announced upon the release of terms offered by the acquirer, and acknowledgement of the offer by the target company.

Deals that are considered to be in proposed status will not be granted credit.

Full versions of Bloomberg’s League Tables Standards & Guidelines can be accessed on Bloomberg Professional:

{LEAG<GO>}.

Bloomberg L.P. reserves the right of final decision concerning league eligibility and requires adequate documentation for the same. Bloomberg L.P. and its suppliers believe the information herein was obtained from reliable sources, but they do not guarantee its accuracy. Neither the information nor the opinion expressed constitutes a solicitation of the purchase or sale of securities or commodities. Due to the dynamic nature of the Professional Service product, League Table rankings may vary between the quarterly/year-end publications and data found on the Bloomberg Professional Service.

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