Select Financial Services Segments

1. Investment Banking Hedge Funds Private Equity Venture Capital • Value, Growth, Blend • Long-only, Long/Short, Short-only • Fundamental, Distressed, Macro, Event-Driven, Trading, Quant • Growth Equity • Large-Cap Fund • Middle Market • Control Equity • Secondaries • Co-Investing • Control Equity • Co-Investing Select Financial Services Segments Front Office • Client Pitching • Valuation / Modeling • Deal Execution • M&A • Leveraged Finance • Equity & Debt Solutions • Investment Analysis • Portfolio Management • Trading • Deal Origination • Valuation • Investment Analysis Modeling • Portfolio Management • Deal Origination • Valuation • Investment Analysis Modeling • Portfolio Management Industry Coverage Product Group Capital Markets Sales & Trading Equity Research Middle Office • Portfolio Credit Analysis • Pricing • Counterparty Risk • Ratings • P&L Reporting • Mark to Market • Cash Operations • Settlements • CFO/COO • Cash Management • Marketing • Legal • Cash Management • Legal Entities • Tax Structuring • Investor Reporting • Fund Valuation • Cash Management • Legal Entities • Tax Structuring • Fund Valuation

2. Investment Banking Overview

3. Investment Banks serve as intermediaries between providers and users of capital Chinese Wall Strategic advisory Securities underwriting Sales & Trading Investment Banking Users of capital Providers of Capital Research • Corporations • Governments • Municipalities • Individuals • Pension Funds • Insurance Companies • Asset Managers • Corporate Treasuries • Sovereign Wealth Funds Private side Public side

4. Overview of Investment Banking Capital Markets Advisory • Equity capital-raising • Initial public offerings (IPOs) • Follow-on offerings • Equity-linked (convertible) • Debt capital-raising • High-grade or investment grade • High-yield • Syndicated loans • Tax-exempt • Mergers & Acquisitions • Buyside • Sellside • Spin-offs / Splitoffs / Carve-outs • Hostile defense • Hostile takeovers / proxy fights • Joint Ventures • Financial Sponsors / Leveraged Finance • Restructuring • Ratings

5. What Does An Investment Banker Do? Origination Execution • Client Relationship Management • Ongoing dialogue on financial markets, industry developments, new products • Long-term relationship as advisor to Senior Management and Boards • Idea Generation and Problem Solving • Strategic Alternatives • Capital Raising • Optimizing Capital Structure • Risk Management, Dividend Policy • Assessment Of Opportunities • Financial Analysis • Communication • Management, Board of Directors • Internal Committees • Identify Potential Investors • Negotiation / Structuring Transactions • Due Diligence • Documentation

6. Investment Banking Groups Capital Markets Industry Coverage Product • Equity Capital Markets • Debt Capital Markets • Tax-exempt • Leveraged Finance • Securitized Products • Consumer & Retail • Healthcare • Technology • Media & Telecom • Industrials • Natural Resources • Real Estate • M&A • Corporate Finance “Markets” “Technical”

7. Investment Banking Competitive Landscape Bulge bracket Middle Market Boutique Low Capabilities High

8. Life of an Investment Banking Analyst

9. Overview of Investment Banking analyst programs Two-year program with opportunity for a 3rd year 6-8 week training Mentorship programs Networking opportunities Summer internship program serves as primary feeder to full-time analyst positions

10. Role of an Investment Banking Analyst Be a member of a deal team, executing day-to-day activities surrounding live transactions Perform financial analysis and modeling Develop and prepare client presentation materials (pitches, roadshows, board materials, etc.) Coordinate roadshows, and M&A processes Research and due diligence

11. Why Investment Banking? Benefits Challenges • “Everyday is different” • Exposure to senior management • Steep learning curve • Work with talented and motivated people • Gain a strong background in financial analysis • Help execute exciting, landmark transactions • Networking • Exit opportunities • Long and unpredictable hours • Traveling • Demanding senior bankers • High stress/pressure environment

12. Tools of the Trade Banker Skill Set Positives/Drawbacks • Motivated • Team player • Quantitative • Personable • Flexible • Articulate • Aggressive • Deal oriented • Willing to take initiative • Handle stress well • Professionalism • Responsible • Exposure/network • Magnitude/notoriety of deals • Responsibility • Skill and knowledge base development • Compensation • Long hours • Work-life balance • Stressful environment • Intensity • Focus on detail • Little things can mean a lot and poor execution can mask good skills • attention to detail • aesthetics • professionalism • timeliness • Communication is the key to good teamwork and efficiency • understand what expectations are (timing/deliverable), aka underpromise and overdeliver • Analysts generally treat their years as an investment in personal capital • seek out work—be an entrepreneur • vary the people and types of projects to work with/on • maximize client exposure and value add

13. Qualities that Investment Banks Look for in Candidates • No one facet is more important than the rest. A well-rounded candidate who strives to encompass awide-variety of talents and interests often finds success • A Strong Interest in Finance • take courses that demonstrate your interest in finance • ability to explain: what is investment banking? what does an analyst do? why would you be a strong candidate? • Coursework or Work Experience • that demonstrates comfort with numbers/knowledge of financial statements • that shows comfort in front of people (e.g., sales position,student government) • any work experience that demonstrates drive • A Team Player • team-driven (job/athletic/academic) accomplishments on resume • the objective is to demonstrate that you work well with others • A Record of Success and Achievement • academic GPA, scholarships/honors, test scores • Leadership of student organizations or teams • a high level of athletic accomplishment • community service with a record of achievement

14. General Preparation Network with peers and alumni Internships Research - Do I want to do Investment Banking? What type of firms? Make sure your resume is clear, concise and error free Take advantage of resources available to you (alumni, Feld Career Center, etc.) Everything is fair game Practice, practice, practice

15. The Interview Be prepared: know as much about the bank and position as possible Know yourself: what motivates you, your strengths and weaknesses and be able to articulate those points Know EVERYTHING on your resume Be honest and demonstrate enthusiasm and motivation Read the Wall Street Journal EVERYDAY and use the Vault Guides Practice interviewing (mock interviews, preparing answers, etc.) Ask questions

16. Resources Vault Career Guides Breaking Into Wall Street Wall Street Prep Wall Street Training DealMaven Wall Street Training

17. Corporate Banking Overview

18. What is Corporate Banking? Provides Corporate Finance advisory, structured finance, and the extension of capital to corporate clients Corporate Bankers are coverage officers who are the primary point of customer contact (aka “Relationship Managers”). Corporate bankers are responsible for: forming trusted advisor relationships with clients developing integrated financing strategies to satisfy complex client financing needs providing innovative intellectual and financial capital to clients Corporate Bankers partner with Investment Banking and product groups such as Capital Markets, Derivatives, and Cash Management/Treasury groups to provide the full spectrum of banking services to clients

19. Corporate Banking • The Corporate Banking product offering is focused on debt and other corporate finance products: InvestmentBanking CorporateBanking StructuredProducts M&A Equity Debt Cash Management / Treasury • Strategic Advisory • Divestitures • Acquisitions • IPOs • Follow-On Issues • Preferred • Convertibles • Debt Issuance • Acquisition Finance • Bilateral & Syndicated Loans • Derivatives • Commercial Paper • Hybrids/ Convertibles • Receivables Securitization • Asset Based Finance • Project Finance • Synthetic /Leveraged Leases • Commodities / FX • Equity Derivatives • Pensions • Cash management • Securities Services • Trade Finance • Investments • Agency & Trust • Corporate Cards

20. Corporate Banking Coverage Product Offering Board of Directors Investment Banker Strategic and Financial Advisory CEO For large multi-national corporations, corporate bankers primary contacts in a company are the CFO and Treasurer Corporate Banker CFO Capital Structure Management Treasurer Assistant Treasurer Cash Management and other Treasury Products HR Ops

21. Corporate Banking • Role of an Analyst: • Prepare client presentations and marketing materials • Participate in customer calls and client meetings • Perform industry and company research to develop a view on financing transactions • Coordinate due diligence process • Navigate and participate in term sheet negotiation • Analyze the risks associated with a transaction and the implications on relationship returns • Drive dialogue with Credit Risk Management on client credit analytics and recommendations • Evaluate impact of products on company’s future earnings, EPS accretion, and credit ratios • Analysis and dissemination of industry performance and trends

22. Corporate Banking • Although skill sets are similar, the role of a corporate banking analyst slightly differs from an investment banking analyst Low Somewhat Low Medium Somewhat High High Financial Modeling Credit Analysis Valuation Pitching/Presentation Deal Execution Client Interaction Hours in the Office Investment Banking Corporate Banking

23. Credit Risk Management Overview

24. What is Credit Risk Management? • Analyzes, monitors, and mitigates credit risk for individual clients by evaluating new transactions and managing a loan portfolio • Participates in deal teams with primary focus on the bank’s credit exposure to the client • Manages credit approval process (including preparation of credit approval memos) • Responsible for approval decision as to whether to lend/commit • Works with Banking (Investment Banking and Corporate Banking) and Product partners on client strategies relating to capital structure • Monitors the aggregate portfolio risk for corporate clients • Completes hedging strategies to mitigate risk from distressed loan exposure

25. Credit Risk Management • Group Interaction Investment Banking • Work together on extending financing on M&A, LBOs • Bridge Loans Derivatives and other Traded Products Corporate Banking • Work together on extending credit for capital structure financings and other banking products • Risk required to approve any credit exposure relating to derivative positions Credit Risk Management Cash Management / Treasury Products Loan Capital Markets (Leveraged Finance and High Grade) • Risk required to approve any credit exposure relating to cash management positions (ie. Letters of credit, overdrafts, etc.) • Work together on structuring financings and negotiating credit agreements Legal • Work together on identifying credit risks in credit agreements

26. Credit Risk Management • Role of an Analyst: • Prepares transaction credit approval memos • Focusing on credit quality of the borrower and bank’s commitment • Participates in due diligence process • Prepare financial models projecting cash flows and ability to repay debt • Compose annual and quarterly credit reviews to determine risk ratings of clients • Complete valuations of companies (discounted cash flow analysis, comparables) to determine loan to value • Perform portfolio stress testing to determine potential portfolio losses • Complete periodic industry and sector overviews, primarily focused on industry performance • Design hedging strategies (CDS purchases, asset sales) to mitigate outsized risk