3 January 2018 HY Corporate Credit HY Multi Sector.Media. Cable & Satellite i Figure 20: 2017 consumer issuance by segment Services/dome Sec. 7% Retail/Grocery 21% Consumer Fr 6% (Figure 21: 2017 consumer issuance use of emcee::: GCP New as a 12/18,17 Nara ant WWI, Sown Detesole flank San queen lint [Figure 22: Food led consumer issuance in 2017 $12.000 $10.000 I 14000 MOO 1 $4.0)0 12000 so FocdEMv/Tab Rosana ReselCrecory SetoossiMone Sec. Contrast 62011 Firer at ce12/1e1Z maw .201$ .2011 .201? Figure 23: Refinancing S volume accelerated in 2017 SISMOO $11:400 114.000 112000 $10000 14000 911000 11000 12000 so Cevastads OCP •2014 •2015 Plawarof t.V/Ss7, name Sawn Ostische art a nop Owls* rant SSA .2014 Ret .101? Deutsche Bank Securities Inc. Page 167 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0086726 CONFIDENTIAL SDNY_GM_00232910 EFTA01385441