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By The Numbers

  1. Net revenues, net income, EPS and operating margin for all periods reflect Adjusted figures. A reconciliation to the equivalent U.S. GAAP figures is available in the attached.
  2. Adjusted Net Income includes a benefit of $23.9 million for 9M 2018 and $27 million for FY 2017, respectively, from the application of a new accounting standard for income taxes related to share-based compensation.
  3. Includes dividends to Class A shareholders and equivalent amounts distributed to holders of LP units, and excludes consideration received, net of tax, from the sale of the ETC Institutional Trust and Independent Fiduciary business in FY 2017.
  4. Excludes $123.7 million in 2015, in conjunction with Mizuho's warrant exchange.