Investor Presentaiton

Appendix 5 Why trade matters: relevance and evolution of trade 1 Historical evolution of global trade Global merchandise trade, $tn CAGR 6.5% Global trade (Merchandise) $T 20 1989 Cold War ends 1992 15 10 5 0 1988 Maastricht Treaty Source: Economist Intelligence Unit; BCG analysis 11.4% 1.8% 2012- 1994 - WTO established 2001 China NAFTA signed joins WTO 2008 Global Financial China enters "new normal" slowdown 2018- US-China reciprocal tariffs Crisis 1999 Euro introduced 1998 2007 iPhone premiere Brent crude >$100 2008 2009 China & US Stimulus 2014 Commodity "super-cycle" ends 2018 15 |PUBLIC❘

View entire presentation