Investor Presentaiton

Global trade is >USD20trn and underlying volumes are still growing Evolution of global goods and services exports Index - 2012 = 100 120 Goods & services export value1 Goods & services exports volumes² Since 2009, trade volumes have continued to increase 110 100 90 World trade values and volumes increased 80 almost every year until 2009 70 60 50 40 Trade value decreased in 2015 & 2016 as commodity prices declined 30 20 10 0 1980 1985 1990 1995 2000 2005 2010 2015 1. Goods & Services Export Value: 1980-2005 - UNCTAD BPM5; 2006-2015 - UNCTAD BMP6; 2016F - WTO Quarterly Goods & Services Data 2. Goods & Services Exports volume: 1980-2020 - Volume of world goods and services exports (IMF) 12 6

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