Highlights from the markets •EMEIA IPO proceeds picked up strongly in Q4 2019 due to four mega IPOs led by Saudi Aramco

Additional analysis: Likelihood to quit by gender and income, generation, and caregiving responsibilities

Executive summary For the second consecutive year, foreign direct investment in Europe recovered at a slow pace, after dropping by 13% after the outbreak of the pandemic in 2020

EM Inflation and Policy Rate Expectations Continued to Moderate in Q4

Portfolio Asset Composition Quarter Ended March 31, 2023

Economic forecasts point to severe downturn in 2020— global rebound to pre-COVID levels not expected before 2021

More than 50% of respondents in Europe consider charging costs as the key deterrent; high-rise dwellers in China are more concerned about the long waiting time

Progress on our direct environmental footprint

U.S. Dominates Global Equity Allocations