Value Creation Approach

DACH ECONOMIES IN EUROPEAN CONTEXT 4.83 Real GDP (2016A, $tn)1 3.77 2.81 2.73 2.08 43% 1.63 1.47 1.46 ECM Public debt-to-GDP (2016A, %)² 133% 96% 97% 89% 76% 68% 65% DACH Germany France UK Italy Nordics Benelux Spain Nordics DACH Germany Benelux UK France Spain Italy 69,728 Number of companies with 50-250 employees (2015)³ 57,918 28,167 19,472 18,700 14,830 14,723 12,927 0.7% 0.6% Private Equity Investments as % of GDP in 20164 0.4% 0.3% 0.2% 0.2% 0.2% 0.2% DACH Germany UK France Italy Spain Nordics Benelux France UK Nordics Benelux Italy Spain Germany DACH (1) Source: Global Insight as of 15 September 2017. (2) Source: CIA - The World Factbook. (3) Source: Eurostat as of 22 December 2017. (4) Source: Invest Europe: 2016 European Private Equity Activity. 6/21

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