Completed Chinese Cross Border M&a (Industry of Target) Aggregate value, USD million 70.000 60000 Others 50000 Real Estate Ent. 40000 Hospitality High Tech 30000 Industrials 20000 Financial 10000 Retail Energy Power Materials 20042005200620072008200920102011201220132014 Source: Bloomberg, Thomson, Rhodium Group; includes disclosed value of all completed M&A transactions by ultimately Chinese-owned firms irrespective of the size of the resulting stake, aggregated by date of completion CESLELECTIVE-APRIL2016CESL ELECTIVE - APRIL 2016 4 Completed Chinese Cross Border M&A (Industry of Target) Source: European Chamber of Commerce in China (2013)