1. Business. Empowered. CONFIDENTIAL Analysis of UK Quoted Shares by Value 2 October 2013 Jason Black Head of Operations, Europe +44 (0) 20 77 767 574 black@orientcap.com Louise Rutter Manager, Equiniti Investor Analytics +44 (0) 20 74 691 883 louise.rutter@equiniti.com

2. Agenda ■ About Equiniti & Orient Capital (OC) ■ Methodology ■ Company Support ■ Classification ■ Results ■ Recommendations

3. About Equiniti & Orient Capital ■ Equiniti are specialists in Share Registration and Registrar to 50% FTSE 100 & 35% FTSE 250 ■ Equiniti appointed by ONS to provide analysis of pooled nominee shareholdings for 2010 Ownership Survey ■ Orient Capital are largest provider of register analytics globally with expertise in equity market intelligence, proxy solicitation, investor communications and shareholder management technology ■ In 2012, Equiniti appointed Orient Capital as an outsourcing partner on behalf of its 140+ Investor Analytics Clients ■ Equiniti & Orient Capital jointly appointed by the ONS to provide analysis of nominee shareholdings as at 31 December 2012

4. Methodology ■ ONS provided Equiniti & OC with a sample of 200 UK companies ■ Suggestion to provide analysis on two data sets: □ Pooled nominees in line with 2010 contribution □ Full share register: certificated + CREST (pooled & non-pooled nominees) in line with recommendations of 2010 results ■ Pooled nominees: □ Registered shareholders acting as custodians on behalf of multiple clients within each designated account □ Results in multiple combinations of dynamic beneficial/investment manager shareholdings unique to each company □ These are identified and tracked by the company or its appointed agent employing provisions in the Companies Act 2006 (‘Section 793’)

5. Methodology improvements ■ Sample increased from sub-set of FTSE100 companies to 200 across UK market ■ Provided full sector analysis for ‘Rest of World’ category ■ Thresholds not applied to identification of beneficial shareholders within pooled nominee holdings ■ Automated processing of data using OC’s advanced technology ■ Improved balance of industry group representation in sample ■ More extensive project commenced immediately after analysis date (31 Dec) and over a longer period than 2010 project (14 weeks vs. 9)

6. Sample company support ■ Strong sample group support for 2012 survey ■ Equiniti & OC analysed 67 companies of the 200 sample equating to over 50% of the sample group market cap ■ Analysis compiled using: □ Register of Members (Share Register) □ Register of Interests’ Disclosed (ROI/Section 808 Register) □ Orient Capital’s proprietary beneficial shareholder database

7. Classification of beneficial owners ■ Cross-referenced and agreed with the ONS final list of Euroclear and Equiniti & OC defined pooled nominees ■ Beneficial shareholders identified within agreed pooled nominee accounts were classified as one of the following:  Rest of the world  Banks  Charities  Individuals  Insurance companies  Investment trusts  Other financial institutions  Pension funds  Private non-financial companies  Public sector  Unit trusts ROW region:  Europe  Offshore UK  North America  Asia  Africa  Australasia and Oceania  Middle East  South/Central America and the Caribbean ROW sector of ben owner:  Banks  Charities  Individuals  Insurance companies  Investment trusts  Other financial institutions  Pension funds  Private non-financial companies  Public sector  Unit trusts

8. Classification of companies ■ Companies assigned to industry group: □ Financial / Manufacturing / Non-Manufacturing ■ Companies assigned to FTSE sector weightings: □ Financials □ Oil & Gas □ Consumer goods □ Basic Materials □ Consumer Services □ Industrials □ Health Care □ Telecommunications □ Utilities □ Technology

9. Results ■ Equiniti & OC provided analysis of shareholdings representing £767bn – 50.3% of total value of sample ■ Data for 67 companies was included in the final sample ■ Key result - assumptions for multiple ownership of shares for 2012: Per cent of valuePer cent of value pooled nomineesfull register  Rest of World65.957.9  Banks0.70.9  Charities0.40.4  Individuals7.96.6  Insurance Companies3.54.0  Investment Trusts0.10.2  Other Financial Institutions0.54.8  Pension Funds5.88.1  Private Non-Financial Companies0.11.0  Public Sector0.11.8  Unit Trusts15.014.4

10. Coverage ■ An average of 90.7% of a company’s total market value analysed through full register analysis ■ Final industry sample weightings: Weighting (%)Weighting (%) within samplewithin FTSE 350  Financials15.7122.20  Oil & Gas15.8416.37  Consumer Goods13.1214.00  Basic Materials11.4810.64  Consumer Goods10.989.66  Industrials4.128.79  Health Care13.497.08  Telecommunications11.075.78  Utilities2.703.99  Technology1.501.49

11. Additional reporting ■ Commentary accompanying various tables of results: □ Comparison of 2012 results to 2010 □ Factors contributing to more significant changes □ Detail regarding classification descriptions ■ Analysis of ratio of shares held by individuals in certificated form for sample of FTSE100 companies also provided: Per cent of value  UK individuals90.1  Rest of World individuals9.9

12. Recommendations ■ Equiniti & Orient Capital’s recommendations for improvements to the methodology employed in future Share Ownership surveys include: □ Commission only the analysis of all shareholdings on a company’s share register i.e. both pooled and ‘one-to-one’ nominee holdings in Euroclear, as well as certificated shareholdings □ Aim to replicate even more closely equivalent FTSE sector weightings in the sample of companies analysed