Key M&A fi ndings Sectors with the highest of executives are confi dent appetite to acquire 83% that the state of the global Oil and gas 69% economy is improving Consumer products 67% and retail of executives see increased volatility in commodities and Mining and 67% 29% currencies to be the greatest metals risk to their business in the Diversifi ed next 6-12 months industrial 66% products Power and 65% of executives expect to utilities 59% actively pursue acquisitions in the next 12 months Top investment destinations 1. United States 29% of executives are targeting deal 2. United Kingdom sizes greater than US$250m 3. China 4. India of executives are planning 5. Germany 41% to allocate 10% or more of their acquisition capital to emerging markets Capital Confi dence Barometer