Leading in financial advice, worldwide

Rothschild is one of the worlds largest independent financial advisory groups. Our Global Financial Advisory business provides impartial, expert advice to corporations, governments, institutions and individuals. With approximately 900 advisers in 40 countries around the world, our scale, reach, intellectual capital and local knowledge enable us to develop relationships and deliver effective solutions to our clients, wherever their business takes them. This is why we are leaders in financial advice, worldwide.

Global Financial Advisory

Rothschild stands apart from the competition. What makes Rothschild special as an adviser is that we are:

Leading in financial advice, worldwide

Over 800 transactions globally in the 18 months to June 2012, totalling US$625bn

Focused on clients Expert

Nothing gets in the way of our impartial advice for each and every client. We sell nothing but our best advice and execution capabilities. Senior bankers lead every assignment from start to finish. We advise on more deals than any other adviser, including many of the most complex or transformational assignments in the world. All Rothschild clients benefit from our collective intellectual capital, specialist sector and product expertise, and wealth of experience. We combine global scale with deep local networks. With approximately 900 advisers on the ground around the world, we are well placed to help clients, wherever their business takes them. As a family controlled business, we are unconstrained by short-term thinking or quarterly reporting. We can take a long-term view to deliver each clients interests. We know that long-lasting relationships depend on the quality of our advice; We care about our clients success as much as they do. The scale of our business means that we are not dependent on the outcome of any one transaction. We are only as good as our last assignment; This has been true for more than 200 years.

Informed Long-term Trusted and independent

Abu Dhabi Amsterdam Athens Auckland Barcelona Beijing Birmingham Brussels Bucharest Budapest Calgary Doha Dubai Frankfurt Hanoi Hong Kong Istanbul Johannesburg Jakarta Kiev Kuala Lumpur Leeds Lisbon London Madrid Manchester Manila Melbourne Mexico City Milan Montral Moscow Mumbai New Delhi New York Paris Prague Rome Santiago So Paulo Seoul Sofia Shanghai Singapore Stockholm Sydney Tel Aviv Tokyo Toronto Warsaw Washington Wellington

M&A and strategic advisory

Equity advisory
Independent M&A rankings adviser
Europe UK France Italy Germany Worldwide '05 1 1 1 2 2 9 '06 1 1 1 2 2 8 '07 1 1 1 2 1 6 '08 1 1 1 2 5 7 '09 1 2 1 4 4 7 '10 1 1 1 4 4 5 '11 1 1 1 3 1 3 H1 '12 1 1 1 1 1 5

Expert advice with real depth and breadth

of experience
 Unparalleled track record and deal flow, regularly topping M&A league tables around the world  Global presence brings in-depth insight to complex cross-border transactions across world markets, and superior expertise in domestic markets

The worlds first and leading equity adviser

 Honest, strategic view of what is achievable in prevailing markets  Rigorous analysis, support for issuers in negotiations, and tactical judgements Coordination of bookrunners to maximise value for our clients, bringing discipline and precision to the execution of equity offerings

cross-border capital raisings

 More than 140 transactions since 2009, more than any competitor, with a combined deal value of over US$290bn Clear vision of what does and does not work in the current market, and which banks are executing well We see every book of demand and speak directly to investors

Adviser of choice to both large and mid-cap corporates, governments, families and individuals worldwide

The only truly global provider of equity advice

Global coverage via our teams across Europe and in New York, Moscow, Hong Kong and Sydney Equity capital markets specialists combine with industry bankers in 40 countries worldwide Advisers to both large and mid-cap corporates, to financial sponsors, and to government, family and individual shareholders

Creating constructive competition between

bookrunning banks in order to ensure:

risk commitments on reasonable terms fees kept under control marketing planned and closely supervised coordination and communication between banks bookrunners under pressure to perform throughout accountability for the final result

Client-focused approach
 Trusted partnerships with clients, using our global perspective and depth of industry expertise to help achieve their long-term objectives  Unbiased, objective advice, free from conflicts and cross-selling

By number of deals. Source: Thomson Reuters, Dealogic

Unique senior banker involvement throughout the life cycle of a mandate, from pitch to completion

 Superior deal flow in both domestic and

The Banker Investment Banking Awards 2011 Most Innovative Investment Bank for Growth Companies 2011 Most Innovative Investment Bank for M&A Financial News 2011 European Independent Adviser of the Year FT & mergermarket 2007 to 2011 Mid-market Financial Adviser Private Equity News 2011 and 2010 Financial Sponsors Coverage Team of the Year

Specialist expertise
Integrated global network of industry sector specialists, pooling knowledge from across local markets One of the leading advisers to financial sponsors worldwide, forming long-term relationships to understand their needs Extensive experience in bid defences, joint ventures and strategic alliances, de-mergers and spin-offs, and fairness opinions Specialists in areas including corporate governance, privatisation programmes, pension funds and board committee advice

Real Deals Private Equity Awards 2012 DACH Deal of the Year: IPO of Norma

More than 140 IPOs, secondary offerings, block trades, spin-offs and convertible bonds in 21 countries with a combined deal value of US$290bn since January 2009

The Banker Deals of the Year 2011 Americas Equities Deal of the Year: Petrobras Asset Triple A Awards 2010 Best Block Trade: Vodafones sell-down of China Mobile Shares 2010 Best Equity Deal, Australia: IPO of QR National 5

Debt advisory and restructuring

Largest and most experienced independent debt

advisory and restructuring teams

 Unsurpassed deal flow and expertise in structuring deals for todays markets  Global coverage with dedicated teams in London, Paris, Frankfurt, Milan, Madrid, New York, and in Asia Pacific and the Middle East  Objective, independent, client-focused advice, free from the conflicts of interest faced by balance sheet banks

Debt advisory deal volume

150 125 100 75 50 25 0 2008 2009 2010 Number of global completed deals. Source: Rothschild

 Broadest client base

 Expertise across the bank, bond and fund markets  Innovative advice to companies, creditors, governments and private equity houses on financing strategy, raising debt and ratings, and hedging strategies  Strong relationships with all major market participants including financing sources for debt and equity, banks, bondholders, financial and legal advisers, and financial sponsors

Rothschild has advised on US$1 trillion of debt advisory and restructuring assignments since January 2009
The Banker Deals of the Year 2012 Middle East Restructuring of the Year: Nakheel 2011 Middle East Restructuring of the Year: Dubai World Private Equity News 2011 and 2009 Turnaround and Restructuring Adviser of the Year International Financing Review 2011 EMEA Restructuring of the Year: Truvo 2010 Restructuring Adviser of the Year 2010 EMEA Restructuring Adviser 2009 Asia Pacific Restructuring House of the Year Acquisitions Monthly 2011 Debt Advisory Firm of the Year 2011 Restructuring Deal of the Year: Dubai World 2010 Restructuring Adviser of the Year The Banker Investment Banking Awards 2010 Most Innovative in Restructuring Club des Trente Awards 2010 Financing Deal of the Year: 2.7bn refinancing of Rexels senior credit facility

2011

Breadth and depth of experience

 We offer capital structure advice that optimises both terms and sources of debt financings, refinancings and restructuring  Debt advisory expertise encompasses all financing markets including banks, bonds, ratings, derivatives and hedging  Restructuring experience includes lender negotiations, recapitalisations, capital raising, exchange offers, distressed M&A, in-court and out-of-court transactions, and creditor representation

Proven track record of delivering deals

 Deep professional and transactional experience and a broad mix of skills  Demonstrable industry expertise and extensive contacts among financial buyers  Highest standards of integrity, confidentiality and client service  Many of our roles are undisclosed to the market, helping clients behind the scenes  Creative and resourceful approach, bringing innovative solutions to maximise value and options for our clients

Restructuring rankings Global EMEA US

'09 2 1 3

'10 3 1 4

'11 1 1 4

H1 '12 1 1 4

 Widest range of pricing and leverage sources

 Our independence and deal volume give us a unique view of all banks pitches and term sheets  Constant dialogue with banks, investors and rating agencies allows us to understand the real picture - important in volatile markets and in an environment where integrated banks are ever more product-led

By number of deals. Source: Thomson Reuters, rankings began in 2009

Rothschild in

Western Europe
Deutsche Annington (2012)
Stockholm Manchester Leeds Birmingham London

Rothschild in

Central and Eastern Europe, Turkey and Israel

EFG Eurobank (2012)
Warsaw Prague Budapest Sofia Athens Tel Aviv Bucharest Istanbul

Adviser to the Ad-Hoc Group of Noteholders of the GRAND CMBS on the 6bn capital structure reorganisation of Deutsche Annington Largest ever European securitisation renegotiation Eiffarie / APRR and shareholders (2012) Debt advice on 6bn global refinancing mixed between 2.5bn bonds and 3.5bn bank debt Key role in bookrunner selection and negotiations, timing strategy, and liaising with ratings agencies Eni (2012) 3.5bn disposal of a 30%-1 stake in SNAM to CDP Long-term relationship, advising on 17 deals in 18 years GDF SUEZ (2012) Acquisition of remaining 30% stake in International Power, following reverse takeover in 2011 Largest UK asset transaction announced in H1 2012 Government of Portugal (2012) 6.6bn recapitalisation of domestic banking system Strengthened the Portuguese financial sector, enabling banks to reach and exceed the capital targets set by the European Banking Authority

460m sale of a 70% stake in Polbank EFG to Raiffeisen Bank International Largest disposal by a Greek bank since the onset of the financial crisis OTE (2012)  397m disposal of its 20% stake in Telekom Srbija  Exit marks successful outcome of complex and challenging process Anadolu Efes (2011)

Paris

Amsterdam Brussels Frankfurt

Milan Barcelona Lisbon Madrid Rome

 The regions leading financial advisory firm

 At the forefront of European finance for the last 200 years  More deals than any other adviser for each of the last ten years, including many of the regions most complex and transformational assignments  Long-term relationships with clients, demonstrated by significant repeat business

 Historic and unrivalled presence

Roots in the region from the first half of the nineteenth century as a financier and investor Significant role in the liberalisation, privatisation and development of the regions economy since 1990, and in the development of best practice in corporate finance Advisers on the ground in Athens, Istanbul, Tel Aviv and Warsaw, representatives in Budapest and Bucharest, and local partnerships in Prague and Sofia, all connected to our global network of advisory expertise

 Formation of a strategic alliance with SABMiller

for Turkey, the CIS, and the Middle East Creates opportunities for significant value generation Polkomtel (2011)

 4.5bn disposal of the company to Spartan Capital

Largest ever Central and Eastern Europe M&A deal Solbar (2011) US $133m merger with CHS, Inc Combined local reach to Israeli clients with extensive connections in the food ingredients sector globally VAE (2011)

 Unrivalled local expertise

T  he best regional talent, integrating a wealth of senior experience from across Europe  No-one is better connected to, or better informed about European markets

Unparalleled senior level access, supported by a panel of high-profile senior advisers

Comprehensive advice across M&A, debt and equity financing, restructuring and specialist advisory areas

 The regions leading financial adviser

Extensive experience in advising local corporations and governments, and international investors entering the region Expert financing advice, including equity and debt issuance and restructuring

Nestl (2012) US$11.9bn acquisition of Pfizers Nutrition business Largest M&A deal in food sector for two years. Largest acquisition by Nestl in 10 years

 Advice on Baltic States regional nuclear project

and securing of Hitachi as minority investor High-profile deal for both region and for global nuclear sector. Unprecedented international endorsement

Rothschild in

Russia and CIS

Sberbank (2012)  US$3.5bn acquisition of DenizBank from Dexia  Largest transaction in Sberbanks 170-year history, and the largest ever cross-border acquisition by a Russian financial institution
Moscow Kiev

Rothschild in

North America
Air Products and Services (2012) Acquisition of a controlling interest (67%) in Indura Exclusive financial adviser on the acquisition of a family-owned leading industrial gases company
Calgary Montral Toronto New York

American Airlines (2012) Adviser on current Chapter 11 case Adviser on joint venture and oneworld alliance membership with Japan Airlines (2010) Fougera Holdings (2012)

Lenta (2011)  US$1.1bn disposal of a 44.15% stake in Lenta to a consortium of TPG Capital, VTB Capital and the EBRD  Highly successful strategic shareholder exit despite difficult market conditions

Washington D.C.

Exceptional regional coverage, with in-depth

market knowledge
 Region covered by core team of 14 bankers in Moscow, unchanged since before the financial crisis, delivering consistency and long-term knowledge  Presence in Kiev since 2009  Clients benefit from unparalleled high level and government access supported by our high-profile senior advisers In-depth understanding of local and regional dynamics

Mriya (2011) 250m bond financing  D  ebt advice on benchmark international financing for Ukrainian agriculture OJSC Russian Railways (2011)  Tender sale and privatisation of a 50%-2 shares stake in OJSC Elteza to Bombardier First ever privatisation of a Russian railways subsidiary, leveraging our global contacts to bring key international players to the process UC Rusal (2010, 2009)

 World-class expertise across the advisory spectrum

Long-standing presence in the region, with an in-depth knowledge of local markets O  ne of the premier financial restructuring practices in North America, consistently ranked in the top four by number of US deals  Rapidly growing track record in M&A and equity advisory, with a wealth of industry sector expertise and senior experience D  edicated special committee practice and long-standing relationships with private equity houses

US$1.5bn disposal of Fougera Pharmaceuticals to Sandoz, the generics division of Novartis Expert advice on auction dynamics and offer negotiations, maximising value for client Robert Bosch (2012) US$1.15bn acquisition of SPX Service Solutions Largest acquisition for Boschs Automotive Aftermarket division, expanding product and service portfolio Barrick Energy (2011)

Long-term player, active in Russia and CIS since 1994, with a fully-staffed office since 2003

 Deep local experience supported by truly global

 Acquisitions of Culane Energy Corp and Venturion

Natural Resources totalling US$1.1bn

knowledge
Adviser on some of the most high-profile and transformational restructurings of recent years Local M&A specialists fully integrated with our global network of experience, including the largest team in Europe S  trong track record in major transactions between North American companies and growth market companies around the world

 Strong track record across the deal spectrum

Adviser on some of the regions largest and most complex transactions O  ne of the most active advisers in the local market; our current deal pipeline is unprecedented

 Adviser to Barrick on eight transactions since 2008

Blockbuster (2011)

US$16.8bn debt restructuring and subsequent

US$2.2bn IPO on the Hong Kong Stock Exchange Largest restructuring in Russian corporate history, first dual listing in Hong Kong and Paris

D  isposal to DISH Network Corporation for US$430m  Follows advice on strategic recapitalisation alternatives
relating to the companys US$979m of debt 11

10

Rothschild in

Latin America
Redecard (2012)
Mexico City

Rothschild in

The Middle East

Al Jaber Group (2012)  Advice on liability management Largest family-owned conglomerate in UAE   Arcapita (2012)
Doha Abu Dhabi Dubai

US$6.8bn tender offer and delisting from BM&Fs Novo Mercardo Brazils largest ever delisting
So Paulo Santiago

Controladora Comercial Mexicana (2012) US$932m disposal of its 50% stake in Costco de Mexico to Costco Wholesale Continues from advice to CCM on US$3.2bn debt restructuring, one of the most high-profile in Mexico (2010)

 Adviser to Arcapita on its Chapter 11 case involving c.US$2.5bn of financial liabilities  First Middle East company to file for Chapter 11 protection Economic Zones Worldwide (2012)

Dedicated regional coverage with deep local expertise

Long history of involvement in the region; Rothschild began issuing finance to governments in Brazil and Chile in 1825 Team of 25 bankers based full-time in So Paulo and Mexico City, supported by a partnership in Santiago Trusted, long-term relationships with regional companies, with a solid track record of repeat business

Almeida Jnior (2011)

 US$970m joint venture with Westfield Entry of worlds largest shopping mall operator
into Brazil Groupe Casino (2011)  Analysis and rejection by Casino of unsolicited offer for Po de Acar  Largest ever negotiation in the Brazilian retail sector Oi (2011, 2010)  US$15bn shareholding reorganisation  Strategic advice on US$4.7bn capitalisation and industrial alliance with Portugal Telecom Fomento Economico Mexicano (2010) US$7.6bn sale of FEMSA Cerveza to Heineken Effectively led competitive process in landmark cross-border disposal

Highly connected with the regions markets

Long history of activity - Rothschild arranged the Ottoman Empires 4% loan of 1891 Experienced locally-based advisory bankers, including Middle Eastern nationals, based in our offices in Abu Dhabi (opened 2007), Doha (2010) and Dubai (2006) Exceptional working relationships with governments, regulators, sovereign wealth funds and government-related entities Established relationships with family businesses across the Middle East, helped by Rothschilds own history of 200 years of continuous family ownership

 Adviser to EZW and its subsidiary, the Jebel Ali Free Zone, on the refinancing of its US$2bn Sukuk  Largest refinancing this year by any government related entity in Dubai Lloyds Banking Group (2012) Disposal of onshore business in the UAE to HSBC Comprised retail, commercial and corporate banking activities, with total assets of 482m as of Dec 2011 Nakheel (2011)

Consistently ranked among the top financial advisory firms in the region
Significant experience in public and private deals, advising both local groups and multinationals Strong regional expertise in a wide range of industry sectors including financial services, infrastructure, consumer products, telecoms, utilities and real estate 12

 Restructuring of US$10.3bn of external debt

Track record of high-profile assignments

Leading M&A adviser since our establishment in the region, advising on more than 60 deals totalling over US$30bn Adviser on the regions landmark restructurings Trusted independent financing advice to companies preparing to access the bank debt and equity capital markets

facilities, US$9bn of customer claims, and US$5.1bn of trade creditor claims shareholder, the Government of Dubai

 New money injection of US$7.3bn by its ultimate

Largest corporate real estate restructuring in history 13

Rothschild in

India

Rothschild in

Greater China and North Asia

Cairn Energy (2011)  US$6bn disposal of a 40% stake in Cairn India to Vedanta Resources
New Delhi

Alibaba Group (2012)  Adviser on US$2.6bn proposed privatisation and delisting, and advice on US$3bn debt financing
Beijing Seoul Shanghai Hong Kong

 Crystallisation of Cairns biggest investment in the subcontinent Mahindra & Mahindra (2011)

The largest privatisation in Hong Kong by market cap. The largest leveraged debt deal in the Chinese technology sector, and one of the most complex in Asia Bright Foods (2012) Acquisition of a 60% stake in Weetabix from Lion Capital at an EV of US$1.9bn One of the largest ever outbound acquisitions by a Chinese company in the consumer sector Chow Tai Fook (2011)  US$20bn listing on the Hong Kong Stock Exchange Largest new consumer listing of 2011, company becomes the worlds largest listed jewellery retailer GDF SUEZ (2011)
GDF SUEZ Logotype version Quadri 11/07/2008
82, bd des Batignolles - 75017 Paris - FRANCE Tl. : +33 (0)1 53 42 35 35 / Fax : +33 (0)1 42 94 06 78 Web : www.carrenoir.com

Mumbai

 Acquisition of a majority stake in Ssangyong

Motor Co.

 Competitive bidding process via a court process as

company was under Rehabilitation Proceedings

 Committed to a long-term presence in India

First office in India opened in June 1998 Ongoing investment in the country reflects our appreciation of India as a fast-growing M&A market 21 bankers based full-time in our offices in Mumbai and New Delhi Unparalleled senior level access, supported by a panel of high-profile senior advisers

Government of India (2010)

 US$22.7bn auction of 3G and BWA spectrum  Innovative and highly successful, the first auction
of Indian telecom spectrum

 Substantial, connected presence

P  resence in China since 1838, and one of the first business institutions from the West to re-establish relations after 1953

 Realisation at over three times the Governments

Direct access to the Chinese market via our three offices in Beijing, Hong Kong and Shanghai Advice on cross-border transactions in South Korea, leveraging our strategic partnership with Samsung Securities

original estimates; represented 1.5% of countrys GDP and 25% of fiscal deficit

Suzlon Energy (2010)

 Award-winning advisory capabilities

Local expertise across M&A, private equity, and financing advisory including restructuring, and project finance Extensive experience in advising both large and mid-cap Indian firms and government entities Connecting Indian clients with overseas assets, investors and financing sources through our unrivalled global presence Leading adviser to international companies looking to make Indian acquisitions 14

U  S$2.8bn debt consolidation and refinancing exercise  One of the largest ever successfully completed
refinancing exercises in India

 In-depth understanding of the local market

Adviser on many of Chinas recent landmark transactions Extensive track record in advising the regions multinational, state-owned and private enterprises Strong ability to bridge cultural gaps between management of foreign and Chinese companies  Locally-based advisory bankers command a detailed knowledge of the regions economic development, and the challenges facing its industries

RFRENCES COULEUR

B 80%

C 100% Y 50% B 5%

 Sale of a 30% stake of GDF SUEZs Exploration & Production division to China Investment Corporation for a cash consideration of US$3.3bn  CICs largest investment into Europe and second largest worldwide Vodafone (2010)

 Sell-down of US$6.6bn shares in China Mobile Largest accelerated bookbuild offering ever

in Asia (excl. Japan). Hong Kong Stock Exchanges largest ever on-market placement 15

Rothschild in

Japan

Rothschild in

South East Asia

Consortium of Marubeni, Posco and STX (2012) US$3.7bn acquisition of a 30% equity interest in the Roy Hill Iron Ore Project
Hanoi Manila

GMR (2012)

 US$1.7bn reverse takeover of Singapore-listed United  One of Singapores largest ever reverse takeovers
BG Group (2012, 2011)
Singapore

 Constitutes for each consortium member their  Follows advice to Marubeni on its US$244m
Tokyo

Fiber System by PT Dian Swastatika Sentosa and GMR Energy, shareholders of PT Golden Energy Mines

largest investment both in the iron ore sector and in Australia

Kuala Lumpur

acquisition of a 15% indirect interest in PT Jawa Power (2011)

Disposals of BGs 20% stake in Genting Sanyen Power, Competitive sale process generating significant
interest in world-class assets Indonesia Port Corporation (2011)

Valeo (2012)

Jakarta

Malaysia, and 40% stake in First Gas Power Corporation and FGP Corp

Experienced team with long-term presence

 Potential disposal of its Access Mechanisms business

to U-Shin

in Japan

 Illustrates successful collaboration between Rothschild

and Global Advisory Japan Asahi Group Holdings Ltd (2011) Adviser to Asahi on a string of transactions to establish a strong presence in the Oceania region, including:  Acquisition of the juice and water business of P&N Beverages Australia Takeover bid for Charlies Group, a New Zealand non-alcoholic beverages manufacturer Acquisition of Independent Liquor, an Australia and New Zealand alcoholic beverages manufacturer The Bank of Tokyo-Mitsubishi UFJ (2011)

 Long-standing presence and deep experience

 More than 40 years experience in the region Over 30 advisory bankers based permanently in five countries L  ocally-hired expertise gives our clients unparalleled access to regional business networks, and brings in-depth understanding of the needs of South East Asian clients

Rothschild operates in Japan through Rothschild Japan Global Advisory Japan, providing expert advice on cross-border M&A Balance of both senior Japanese and foreign professionals with significant regional investment banking experience Creative solutions for clients, providing innovative approaches to transactions

Successful bid for the US$4.6bn BOT expansion

project for Tanjung Priok, Jakartas primary port structure for landmark national project BFI Finance Indonesia (2011)

Advised on complex bid and project financing

 E xpert advisory services to a broad range of clients

Extensive experience in advising multinationals, state-owned enterprises, pivate sector corporations and private equity houses on domestic and cross-order M&A transactions  eading independent financing adviser on equity and debt L fundraising transactions in the region

US$169m sale of the independent shareholders 45%

stake to TPG Capital and Northstar Pacific Capital

 Uniquely positioned to provide first class

 Landmark Indonesian transaction, achieving premium

price for minority shareholders selling as a package Honeywell (2011)

advisory services
Deep understanding of Japanese markets and strong relationships with key market participants Unrivalled ability to assist Japanese clients in accessing global markets, through our worldwide network of sector specialists Expertise in advising global corporates on acquiring Japanese assets through our deep knowledge of the countrys markets 16

 Acquisition of a US$6.1bn portfolio of project

post Lehman shock

T  he leading government adviser in the region, with a track record of drawing up and executing privatisation strategy

 US$338m acquisition of Kings Safetywear from

Navis Capital

finance assets from the Royal Bank of Scotland

 One of the largest cross-border transactions in Japan,

 Provides Honeywell with an important platform for

growth in the safety footwear market in Asia 17

Rothschild in

Australia and New Zealand

Challenger Infrastructure Fund (2012) Sale of CIFs interests in LBC and Inexus, and subsequent wind up of the fund for an implied proportional enterprise value of US$1.5bn Follows Rothschilds rigorous 11 month strategic review of CIF and its assets in order to maximise unitholder value

Rothschild is one of the worlds largest independent financial advisory groups. There are four main arms to our business: Global Financial Advisory, Merchant Banking, Wealth Management & Trust, and Institutional Asset Management.
Global Financial Advisory
Our Global Financial Advisory business provides impartial, expert advisory and execution services to corporations, governments, institutions and individuals. We deliver the highest quality advice with discretion, integrity and insight, in the areas of M&A and strategic advisory, and financing advisory. Senior advisory bankers lead every assignment from start to finish so all clients benefit from our collective intellectual capital, specialist expertise and wealth of experience. With approximately 900 advisers in 40 countries, our scale, reach and local knowledge enable us to develop relationships and deliver effective solutions to support our clients worldwide.

Sydney Auckland Wellington

Wealth Management & Trust

Our Wealth Management & Trust business provides wealth structuring, investment management, banking and trust services to wealthy individuals, families, trusts and charities. Its principal offices are in London and Zurich. Rothschild Wealth Management has 12 billion in assets under management. Its clients are predominantly entrepreneurs, senior executives and wealthy families with around 5 million in investable assets. Rothschild Trust is regarded as a world leader in providing independent wealth structuring, trust and fiduciary services. Established in 1954, it is one of the oldest international trust groups and currently operates in nine jurisdictions around the world.

Melbourne

Extract Resources (2012) US$2.2bn cash offer from CGNPC Uranium Resources and The China-Africa Development Fund One of the largest ever uranium sector transactions and the largest in the last five years

 A commitment to excellence in the region

More than 45 years experience in Australia E  xcellent reputation for robust advice, having advised on a number of the regions landmark transactions

Alinta Energy (2011)  D  ebt and restructuring advice to banking syndicate on maximising recovery of its US$2.4bn debt facility The largest debt restructure in Australian history Bilfinger Berger (2011)  U  S$1.1bn disposal of Valemus Australia Limited to Lend Lease  Advised on all aspects of dual track process across  M&A, equity and debt issues Queensland Government (2010) US$17.6bn Asset Sales Programme, including: US$4.1bn IPO of QR National, US$3.3bn sale of Queensland Motorways, US$2bn sale of Abbot Point Coal Terminal and US$2.1bn sale of Port of Brisbane

37 advisers based full-time in Sydney and Melbourne, supported by an advisory board of senior consultants with extensive public and private deal experience Alliance with New Zealand-based Cameron Partners since 2008

Merchant Banking
Our Merchant Banking division deploys the firms capital, alongside that of trusted partners, primarily in European investment opportunities. Since 2008 we have developed a range of vehicles that allow us to respond to the capital needs of companies, through instruments ranging from senior debt to equity. Our experienced team has the flexibility to invest with a wide range of partners including entrepreneurs, financial investors, families and institutions, and strives to support our portfolio companies through access to Rothschilds global network of industry and sector expertise. Today Rothschilds Merchant Banking division manages more than 3 billion of funds globally.

Institutional Asset Management

Our Institutional Asset Management business provides investment management and advisory services to institutional clients, financial intermediaries, third-party distributors and private clients around the world. We operate through three principal subsidiaries: Rothschild Asset Management in New York manages US equities, balanced accounts and long-short strategies; Paris-based Rothschild & Cie Gestion focuses on European assets; and Blackpoint Management, based in Guernsey, specialises in managing Funds of Hedge Funds.

 E xpertise in all core areas of financial advisory

H  ighest quality M&A advisory and execution services to a broad range of clients from the mid-cap to large multinationals  Specialist equity advisory, debt advisory and restructuring teams

Strong track record of repeat business with major blue chip companies Our global network of sector specialists gives Australian clients unparalleled access to global companies and markets 18

19

www.rothschild.com

Cover image: Detail from 500 bond for the Brazilian 5% funding loan of 1901, issued by Rothschild (The Rothschild Archive)

Aug 2012