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Analyst Coverage

Analyst Coverage

The following is a list of the analysts making recommendations, comments, etc. on MHR’s business performance, etc.

April 5, 2017

Institution to which analyst belongs Name of analyst
SMBC Nikko Securities Inc. Hiroshi Torii
Goldman Sachs Japan Co., Ltd. Sachiko Okada
Daiwa Securities Co. Ltd. Kohei Omura
Mizuho Securities Co., Ltd. Yosuke Ohata
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. Norihiko Sawano
UBS Securities Japan Co., Ltd. Toshihiko Okino

(company names in Japanese alphabetical order; honorifics omitted)

This list is prepared based on information available to MHR and MHR’s asset management company as at the date of posting. Accordingly, please note that there may be analysts who are not on the list and the information may not all be the latest information.

The analysts on this list and analysts not on this list analyze the business performance, business, etc. or project the future business performance of MHR based on their independent judgment on a regular or irregular basis. MHR and MHR’s asset management company have no involvement whatsoever in any process thereof. In addition, MHR and MHR’s asset management company in no way endorse or guarantee these analysts’ projections, opinions and recommendations or the information thereof.

This list is solely intended to provide unitholders with information on the analysts making analyses or projections on the business performance, etc. of MHR and the institutions to which the analysts belong, and has not been prepared as a solicitation for acquisition of MHR investment securities or execution of other financial instruments transaction agreements.

Any investment decision you ultimately make shall be at your own discretion and risk.