J.P.Morgan Software Investment Banking

#1 software M&A franchise generating the highest premium in sell-sides Global software advisory volume 2018 - 2020¹ ($bn) $277 $223 Goldman Sachs $221 Average tech sell-side premiums since 2013² 35% 41% 1-month 1-day J.P. Morgan 35% 1-day J.P. Morgan Morgan Stanley Source: JPMorgan, Dealogic (M&A Analytics); Note: Premium calculated based on offer price at announcement compared to the 1-day and 1-month unaffected pre-announcement trading price ¹Rank eligible deals greater than equal to $100mm with any (target, acquiror, divestor). Includes technology sell-side transactions with deal value greater than $500mm involving a U.S. public target J.P.Morgan 37% 1-month Goldman Sachs 31% 38% 1-day Morgan Stanley 1-month

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