February 2019
[ 1 ]
This Presentation contains forward looking statements, which reflect the
Company’s current views with respect to, among other things, its operations and
financial performance. You can identify these forward looking statements by the
use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,”
“may,” “will,” “should,” “seeks,” “target,” “approximately,” “predicts,”
“intends,” “plans,” “estimates,” “anticipates” or the negative version of these
words or other comparable words. Such forward looking statements are subject
to various risks and uncertainties. Accordingly, there are or will be important
factors that could cause actual outcomes or results to differ materially from those
indicated in these statements. For a further discussion of such factors, you
should read the Company’s filings with the Securities and Exchange
Commission. The Company undertakes no obligation to publicly update or
review any forward looking statement, whether as a result of new information,
future developments or otherwise.
Forward Looking Statements
Premier Global Independent Investment Bank
 Global footprint
— 19 geographic locations in the Americas, Europe, the Middle East,
Asia and Australia
 Trusted advisor
— Focus on M&A, Restructuring, Capital Markets Advisory and
Private Funds Advisory
 World class coverage
— 130 MDs with an average of over 20 years of experience 1
 Leading record of growth with significant opportunities ahead
— Record FY 2018 revenues of $886 million, up 29% from FY 2017
 Healthy balance sheet with strong cash position and no debt or
goodwill
 Commitment to return 100% of excess capital to shareholders
Note:
1. As of 02/06/2019
[ 2 ]
Moelis & Company Milestones
[ 3 ]
2007 – 2008
 Founded and Raised Growth Capital from Global Institutional Investors
 Hired Restructuring Team
2009 – 2010
 Entered Hong Kong, China & Middle East
 Launched in India
 IPO in April 2014 (NYSE: MC)
 Formed Private Funds Advisory Business
2011 – 2014
 Expanded into Brazil & Established German Presence
 Mexico Alliance with Alfaro, Dávila y Scherer, S.C.
 Completed Energy team build out
2015 – 2016
 Australian Joint Venture listed on Australian Securities Exchange
 Formed Shareholder Defense and Capital Solutions Group
2017 – 2018
 Established European Business
 Formed Joint Venture in Australia
 Japan Alliance with SMBC/SMBC Nikko & $93 million Investment
Our Business:
Relationships, Judgment and Experience
[ 4 ]
LOS ANGELES, US
LONDON, UK
HONG KONG, CN
JAPAN
Strategic Alliance with
SMBC / SMBC Nikko
BOSTON, US
DUBAI, UAEHOUSTON, US
NEW YORK, USSAN FRANCISCO, US BEIJING, CN
FRANKFURT, DE
MUMBAI, IN
PARIS, FR
SÃO PAULO, BR
SYDNEY, AUS
Joint Venture
CHICAGO, US
MELBOURNE, AUS
Joint Venture
Global footprint to serve client needs with nearly 600 bankers ¹
WASHINGTON, DC, US
Note:
1. As of 02/06/2019
Globally integrated platform valuable to clients and difficult to replicate
MEXICO CITY, MX
Strategic Alliance
with Alfaro, Dávila y
Scherer, S.C.
Sale to Facebook, Inc.Fundraise for Luminate
Capital Partners II, LP
$430mm
Initial Public Offering
$500mm
Sale of a Stake in ADNOC
Drilling to Baker Hughes,
a GE Company
$550mm
Restructuring and
Recapitalization
£2.1bn
Acquisition of
Meridian Health Plans
$2.5bn
Private Placement of
Common and Convertible
Preferred Equity
$2.5bn
Restructuring
$2.6bn
Restructuring
$3bn
Acquisition by
Dominion Energy, Inc.
$4.2bn
Acquisition of Peoples
$4.3bn
UK Asset Resolution Limited’s
Sale of Bradford & Bingley plc
Loans
£5.3 bn
Sale to WestRock
Company
$5bn
Sale to Nexstar
Media Group, Inc.
$6.4bn
Acquisition of Bemis
Company, Inc.
$6.8bn
Restructuring
€8.7bn
Merger with
HRG Group, Inc.
$10bn
Acquisition of Forest
City Realty Trust, Inc.
$11.4bn
Reinsurance of Financial
Guaranty Policies to
Assured Guaranty Corp.
$13.5bn
Recent Transactions with Marquee Clients
[ 5 ]
2018
Long-term Credit Card
Agreement with
Capital One
Exchange of Cash and Class C
Common Stock for Class V
Tracking Stock
$21.7bn
Restructuring
$16.2bn
Sale to Marriott Vacations
Worldwide Corporation
$5.1bnRestructuring and
Structuring of New Trade
Finance Facilities
$5.9bn
Capital Raise through
Convertible Bonds Issuance
$532mm
Note:
1. Per Thomson Reuters
[ 6 ]
Compelling Investment Opportunity
 Leading track record of growth
 Differentiated model
— Strong partnership culture
— One-Firm philosophy with one global P&L
— Focus on internal development
 Significant shareholder returns over last three years
— Returned $11.30 1 in cash per share in dividends
 Strong, asset light balance sheet with no debt and no goodwill
 Longer and steadier M&A cycle; leading restructuring franchise
despite low default environment
 Continued maturation of global network
Note:
1. Includes dividends declared but not yet paid
[ 7 ]
Differentiated Model
Global
Collaboration
 Global partnership approach
 One firm P&L (non commission-based compensation)
 Optimal structure for client advice and talent development
High ROIC
 Profitable organic growth
 Internal talent development (30% of current MDs are promotes) 1
Commitment to
Shareholders
 Return 100% of excess cash
 Disciplined expense management
 Clean balance sheet with no debt or goodwill
Note:
1. Based on 130 MDs as of 02/06/19
Substantial Organic Growth and Cash
Flow Generation
Notes:
1. Based on fiscal year 2013 revenues of $411 million and fiscal year 2018 revenues of $886 million
2. Represents dividend contemplated at time of IPO
3. Includes dividends declared but not yet paid
Significant Growth Since
our IPO…
Generates High Cash
Returns
With Focus on Managing
the Business…
 115% 1 revenue growth
 86 MDs at IPO and 130
today
 Entered new markets,
sectors and products
 Raised regular dividend
nearly 200% from $0.17 2
to $0.50 per quarter
 Returned $14.80 3 in cash
per share in dividends
 Returned nearly 60% of
IPO price in dividends 3
 No debt
 No acquisitions
 No goodwill
 Expense
management
[ 8 ]
Leading Record of Organic Growth
MOELIS & COMPANY REVENUES
M&A Y-o-Y
Change 1 13.7% (3.0)% (4.0)% 11.9% (4.5)% (6.9)% (1.2)% (3.4)%
Default Rates 2
1.9% 2.6% 2.8% 2.1% 2.5% 4.4% 3.4% 3.0%
Source: Thomson Reuters
Notes:
1. Based on global completed number of M&A transactions greater than $100 million
2. Based on average trailing twelve month default rate from Moody’s “Annual Default Study: Corporate Default and Recovery Rates”
[ 9 ]
Revenue
($mm)
$268
$386 $411
$519
$552
$613
$685
$886
$200
$300
$400
$500
$600
$700
$800
$900
2011 2012 2013 2014 2015 2016 2017 2018Market
Metrics
[ 10 ]
Strong Balance Sheet and Disciplined
Capital Management
 Strong financial position
— Cash and liquid investments of $342 million 1
— No debt or goodwill
 Minimal capital requirements
 Commitment to return all excess capital to shareholders through
dividends and share repurchases
— Record level of open market share repurchases in 2018
— Board of Directors authorized $100 million repurchase plan in Q1
2019
Note:
1. As of 12/31/2018
Moelis & Company: Leading Dividend Yield
Notes:
1. Includes all regular and special dividends declared with respect to Moelis’s activities related to each fiscal year. Dividend yield calculated based on share price as of each
fiscal year ended December 31
Commitment to Return Excess Cash to Shareholders
1
[ 11 ]
$0.60
$1.10 $1.31
$1.58
$1.91
$1.00
$0.80
$1.25
$2.50
$2.75
$1.60
$1.90
$2.56
$4.08
$4.66
4.6%
6.5%
7.6%
8.4%
13.6%
3.0%
5.0%
7.0%
9.0%
11.0%
13.0%
15.0%
$-
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
$3.50
$4.00
$4.50
$5.00
2014 2015 2016 2017 2018
Regular Dividends Special Dividends Dividend Yield
Growth Drivers
[ 12 ]
Premier M&A Franchise Differentiated Model
Leading Restructuring
Team
 Increasing Market Share
 Fundamental shifts in
business models creating
need to transact
 Technological disruption to
lead to longer cycle
 Improving environment in
Europe and RoW
 Maturation of MDs on global
platform
 Expanding global brand
recognition
 Collaborative model delivers
exceptional client advice
 Intense focus on ROIC
 Investment in talent
development
Significant Franchise Enhancement and Shareholder Value
 Growing restructuring
business in low default
environment
 #1 Ranking for US
Completed & Announced
Transactions in 2018
 Advised on 7 of top 10 global
completed M&A transactions
in 2018
Appendix
[ 14 ]
Reconciliation of GAAP to
Adjusted (non-GAAP) Financials
Source: Company filings
Note:
1. Includes amortization of equity awards granted to employees and MDs in connection with the IPO
Our Adjusted results remove the impact of compensation expenses specifically related to the Firm’s IPO awards, and apply the corporate tax rate to all
earnings under the assumption that 100% of the Firm’s net income was taxed at our corporate effective tax rate. We believe the Adjusted results,
when presented together with comparable GAAP results, are useful to investors to compare our performance across periods and to better understand
our operating results.
Twelve Months Ended December 31, 2018
($ in thousands) U.S. GAAP Adjustments
Adjusted
(non-GAAP)
Revenues $885,840 - $885,840
Expenses
Compensation and Benefits $513,863 $(4,561)¹ $509,302
Non Compensation Expenses $145,196 - $145,196
Total Operating Expenses $659,059 $(4,561) $654,498
Operating Income $226,781 $4,561 $231,342
Compensation Ratio 58.0 % 57.5 %
Non-Compensation Ratio 16.4 % 16.4 %
Operating Income Margin 25.6 % 26.1 %
[ 15 ]
Quarterly Revenue Summary
QUARTERLY REVENUE (Q1 2013 – Q4 2018)
Revenue
($mm)
Source: Company filings
Notes: Management primarily focuses on annual revenue measures as revenues in any quarter may not be indicative of full year results and the results of any period may vary
significantly from quarter to quarter and year to year. For the purpose of understanding the Company’s historical experience for the 9-year period of 2010-2018, revenues on
average were distributed over the four calendar quarters as follows: Q1: 21%; Q2: 24%; Q3: 25%; Q4: 30%. The quarterly revenue data for Q1 2013 through Q4 2018 was
derived from our unaudited financial statements included in our Form 10-Qs and our audited financial statements included in our Form 10-Ks. The quarterly revenue data
for 2010, 2011 and 2012 was prepared on substantially the same basis as the unaudited financial statements in our Form 10-Qs and our audited financial statements in our
Form 10-Ks and includes all normal and recurring adjustments that we consider necessary for a fair presentation of revenue for these periods
1. Sum of four quarters may not add up to 100% due to rounding
% of Full Year
Revenue 1 15% 24% 24% 38% 22% 25% 25% 28% 18% 23% 28% 32% 21% 21% 25% 33% 25% 25% 25% 25% 25% 25% 23% 27%
$59.8
$98.5 $98.7
$154.3
$114.5
$131.7
$128.7
$143.9
$99.4
$125.9
$151.8
$174.8
$126.4
$131.7
$150.7
$204.6
$173.3
$172.1$170.0 $169.2
$219.4 $220.4
$207.7
$238.3
$50.0
$75.0
$100.0
$125.0
$150.0
$175.0
$200.0
$225.0
$250.0
Q1
2013
Q2
2013
Q3
2013
Q4
2013
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Q1
2016
Q2
2016
Q3
2016
Q4
2016
Q1
2017
Q2
2017
Q3
2017
Q4
2017
Q1
2018
Q2
2018
Q3
2018
Q4
2018
Share Count Breakdown
[ 16 ]
Notes: Data represents weighted-average for the three month period ending December 31, 2018
1. Includes 1.9 million undelivered awards with no remaining service requirement
2. Includes former Managing Directors and Employees
3. Subject to lockup: 3% in 2019 and 97% in 2020
4. As calculated under the treasury stock method
For the Three Months
ended December 31, 2018
(shares in millions)
2, 3
1 4
47.6
10.5
2.6
7.0
67.7
20.0
30.0
40.0
50.0
60.0
70.0
80.0
Basic Class A
Common Shares
Class A Partnership
Units Held by EOs &
MDs
Class A Partnership
Units Held by Pre-IPO
Strategic Investor
Unvested RSUs and
Options
Diluted Class A
Shares / Exchangeable
Units
(As Adjusted)
[ 17 ]
%ofTotalDealCount
Source: Thomson Reuters
Notes: Represents percent of total company deal count; based on completed M&A transactions from 1/1/2013 to 12/31/2018; excludes transactions less than $100 million and
those with no transaction value disclosed
1. PJT’s data represents Blackstone M&A from 1/1/2013 to 9/30/2015; PJT M&A from 10/1/15 – 12/31/18
1
Historical Deal Distribution by
Transaction Size
49% 45% 43%
62%
42% 39%
20%
19% 21%
17%
18%
17%
31% 36% 36%
21%
40% 44%
0%
20%
40%
60%
80%
100%
Moelis Evercore Greenhill Houlihan Lazard PJT
$100mm - $500mm $500mm - $1.0bn >$1.0bn

Q4 2018 Earnings Presentation

  • 1.
  • 2.
    [ 1 ] ThisPresentation contains forward looking statements, which reflect the Company’s current views with respect to, among other things, its operations and financial performance. You can identify these forward looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “target,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. For a further discussion of such factors, you should read the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or review any forward looking statement, whether as a result of new information, future developments or otherwise. Forward Looking Statements
  • 3.
    Premier Global IndependentInvestment Bank  Global footprint — 19 geographic locations in the Americas, Europe, the Middle East, Asia and Australia  Trusted advisor — Focus on M&A, Restructuring, Capital Markets Advisory and Private Funds Advisory  World class coverage — 130 MDs with an average of over 20 years of experience 1  Leading record of growth with significant opportunities ahead — Record FY 2018 revenues of $886 million, up 29% from FY 2017  Healthy balance sheet with strong cash position and no debt or goodwill  Commitment to return 100% of excess capital to shareholders Note: 1. As of 02/06/2019 [ 2 ]
  • 4.
    Moelis & CompanyMilestones [ 3 ] 2007 – 2008  Founded and Raised Growth Capital from Global Institutional Investors  Hired Restructuring Team 2009 – 2010  Entered Hong Kong, China & Middle East  Launched in India  IPO in April 2014 (NYSE: MC)  Formed Private Funds Advisory Business 2011 – 2014  Expanded into Brazil & Established German Presence  Mexico Alliance with Alfaro, Dávila y Scherer, S.C.  Completed Energy team build out 2015 – 2016  Australian Joint Venture listed on Australian Securities Exchange  Formed Shareholder Defense and Capital Solutions Group 2017 – 2018  Established European Business  Formed Joint Venture in Australia  Japan Alliance with SMBC/SMBC Nikko & $93 million Investment
  • 5.
    Our Business: Relationships, Judgmentand Experience [ 4 ] LOS ANGELES, US LONDON, UK HONG KONG, CN JAPAN Strategic Alliance with SMBC / SMBC Nikko BOSTON, US DUBAI, UAEHOUSTON, US NEW YORK, USSAN FRANCISCO, US BEIJING, CN FRANKFURT, DE MUMBAI, IN PARIS, FR SÃO PAULO, BR SYDNEY, AUS Joint Venture CHICAGO, US MELBOURNE, AUS Joint Venture Global footprint to serve client needs with nearly 600 bankers ¹ WASHINGTON, DC, US Note: 1. As of 02/06/2019 Globally integrated platform valuable to clients and difficult to replicate MEXICO CITY, MX Strategic Alliance with Alfaro, Dávila y Scherer, S.C.
  • 6.
    Sale to Facebook,Inc.Fundraise for Luminate Capital Partners II, LP $430mm Initial Public Offering $500mm Sale of a Stake in ADNOC Drilling to Baker Hughes, a GE Company $550mm Restructuring and Recapitalization £2.1bn Acquisition of Meridian Health Plans $2.5bn Private Placement of Common and Convertible Preferred Equity $2.5bn Restructuring $2.6bn Restructuring $3bn Acquisition by Dominion Energy, Inc. $4.2bn Acquisition of Peoples $4.3bn UK Asset Resolution Limited’s Sale of Bradford & Bingley plc Loans £5.3 bn Sale to WestRock Company $5bn Sale to Nexstar Media Group, Inc. $6.4bn Acquisition of Bemis Company, Inc. $6.8bn Restructuring €8.7bn Merger with HRG Group, Inc. $10bn Acquisition of Forest City Realty Trust, Inc. $11.4bn Reinsurance of Financial Guaranty Policies to Assured Guaranty Corp. $13.5bn Recent Transactions with Marquee Clients [ 5 ] 2018 Long-term Credit Card Agreement with Capital One Exchange of Cash and Class C Common Stock for Class V Tracking Stock $21.7bn Restructuring $16.2bn Sale to Marriott Vacations Worldwide Corporation $5.1bnRestructuring and Structuring of New Trade Finance Facilities $5.9bn Capital Raise through Convertible Bonds Issuance $532mm Note: 1. Per Thomson Reuters
  • 7.
    [ 6 ] CompellingInvestment Opportunity  Leading track record of growth  Differentiated model — Strong partnership culture — One-Firm philosophy with one global P&L — Focus on internal development  Significant shareholder returns over last three years — Returned $11.30 1 in cash per share in dividends  Strong, asset light balance sheet with no debt and no goodwill  Longer and steadier M&A cycle; leading restructuring franchise despite low default environment  Continued maturation of global network Note: 1. Includes dividends declared but not yet paid
  • 8.
    [ 7 ] DifferentiatedModel Global Collaboration  Global partnership approach  One firm P&L (non commission-based compensation)  Optimal structure for client advice and talent development High ROIC  Profitable organic growth  Internal talent development (30% of current MDs are promotes) 1 Commitment to Shareholders  Return 100% of excess cash  Disciplined expense management  Clean balance sheet with no debt or goodwill Note: 1. Based on 130 MDs as of 02/06/19
  • 9.
    Substantial Organic Growthand Cash Flow Generation Notes: 1. Based on fiscal year 2013 revenues of $411 million and fiscal year 2018 revenues of $886 million 2. Represents dividend contemplated at time of IPO 3. Includes dividends declared but not yet paid Significant Growth Since our IPO… Generates High Cash Returns With Focus on Managing the Business…  115% 1 revenue growth  86 MDs at IPO and 130 today  Entered new markets, sectors and products  Raised regular dividend nearly 200% from $0.17 2 to $0.50 per quarter  Returned $14.80 3 in cash per share in dividends  Returned nearly 60% of IPO price in dividends 3  No debt  No acquisitions  No goodwill  Expense management [ 8 ]
  • 10.
    Leading Record ofOrganic Growth MOELIS & COMPANY REVENUES M&A Y-o-Y Change 1 13.7% (3.0)% (4.0)% 11.9% (4.5)% (6.9)% (1.2)% (3.4)% Default Rates 2 1.9% 2.6% 2.8% 2.1% 2.5% 4.4% 3.4% 3.0% Source: Thomson Reuters Notes: 1. Based on global completed number of M&A transactions greater than $100 million 2. Based on average trailing twelve month default rate from Moody’s “Annual Default Study: Corporate Default and Recovery Rates” [ 9 ] Revenue ($mm) $268 $386 $411 $519 $552 $613 $685 $886 $200 $300 $400 $500 $600 $700 $800 $900 2011 2012 2013 2014 2015 2016 2017 2018Market Metrics
  • 11.
    [ 10 ] StrongBalance Sheet and Disciplined Capital Management  Strong financial position — Cash and liquid investments of $342 million 1 — No debt or goodwill  Minimal capital requirements  Commitment to return all excess capital to shareholders through dividends and share repurchases — Record level of open market share repurchases in 2018 — Board of Directors authorized $100 million repurchase plan in Q1 2019 Note: 1. As of 12/31/2018
  • 12.
    Moelis & Company:Leading Dividend Yield Notes: 1. Includes all regular and special dividends declared with respect to Moelis’s activities related to each fiscal year. Dividend yield calculated based on share price as of each fiscal year ended December 31 Commitment to Return Excess Cash to Shareholders 1 [ 11 ] $0.60 $1.10 $1.31 $1.58 $1.91 $1.00 $0.80 $1.25 $2.50 $2.75 $1.60 $1.90 $2.56 $4.08 $4.66 4.6% 6.5% 7.6% 8.4% 13.6% 3.0% 5.0% 7.0% 9.0% 11.0% 13.0% 15.0% $- $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 $3.50 $4.00 $4.50 $5.00 2014 2015 2016 2017 2018 Regular Dividends Special Dividends Dividend Yield
  • 13.
    Growth Drivers [ 12] Premier M&A Franchise Differentiated Model Leading Restructuring Team  Increasing Market Share  Fundamental shifts in business models creating need to transact  Technological disruption to lead to longer cycle  Improving environment in Europe and RoW  Maturation of MDs on global platform  Expanding global brand recognition  Collaborative model delivers exceptional client advice  Intense focus on ROIC  Investment in talent development Significant Franchise Enhancement and Shareholder Value  Growing restructuring business in low default environment  #1 Ranking for US Completed & Announced Transactions in 2018  Advised on 7 of top 10 global completed M&A transactions in 2018
  • 14.
  • 15.
    [ 14 ] Reconciliationof GAAP to Adjusted (non-GAAP) Financials Source: Company filings Note: 1. Includes amortization of equity awards granted to employees and MDs in connection with the IPO Our Adjusted results remove the impact of compensation expenses specifically related to the Firm’s IPO awards, and apply the corporate tax rate to all earnings under the assumption that 100% of the Firm’s net income was taxed at our corporate effective tax rate. We believe the Adjusted results, when presented together with comparable GAAP results, are useful to investors to compare our performance across periods and to better understand our operating results. Twelve Months Ended December 31, 2018 ($ in thousands) U.S. GAAP Adjustments Adjusted (non-GAAP) Revenues $885,840 - $885,840 Expenses Compensation and Benefits $513,863 $(4,561)¹ $509,302 Non Compensation Expenses $145,196 - $145,196 Total Operating Expenses $659,059 $(4,561) $654,498 Operating Income $226,781 $4,561 $231,342 Compensation Ratio 58.0 % 57.5 % Non-Compensation Ratio 16.4 % 16.4 % Operating Income Margin 25.6 % 26.1 %
  • 16.
    [ 15 ] QuarterlyRevenue Summary QUARTERLY REVENUE (Q1 2013 – Q4 2018) Revenue ($mm) Source: Company filings Notes: Management primarily focuses on annual revenue measures as revenues in any quarter may not be indicative of full year results and the results of any period may vary significantly from quarter to quarter and year to year. For the purpose of understanding the Company’s historical experience for the 9-year period of 2010-2018, revenues on average were distributed over the four calendar quarters as follows: Q1: 21%; Q2: 24%; Q3: 25%; Q4: 30%. The quarterly revenue data for Q1 2013 through Q4 2018 was derived from our unaudited financial statements included in our Form 10-Qs and our audited financial statements included in our Form 10-Ks. The quarterly revenue data for 2010, 2011 and 2012 was prepared on substantially the same basis as the unaudited financial statements in our Form 10-Qs and our audited financial statements in our Form 10-Ks and includes all normal and recurring adjustments that we consider necessary for a fair presentation of revenue for these periods 1. Sum of four quarters may not add up to 100% due to rounding % of Full Year Revenue 1 15% 24% 24% 38% 22% 25% 25% 28% 18% 23% 28% 32% 21% 21% 25% 33% 25% 25% 25% 25% 25% 25% 23% 27% $59.8 $98.5 $98.7 $154.3 $114.5 $131.7 $128.7 $143.9 $99.4 $125.9 $151.8 $174.8 $126.4 $131.7 $150.7 $204.6 $173.3 $172.1$170.0 $169.2 $219.4 $220.4 $207.7 $238.3 $50.0 $75.0 $100.0 $125.0 $150.0 $175.0 $200.0 $225.0 $250.0 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018
  • 17.
    Share Count Breakdown [16 ] Notes: Data represents weighted-average for the three month period ending December 31, 2018 1. Includes 1.9 million undelivered awards with no remaining service requirement 2. Includes former Managing Directors and Employees 3. Subject to lockup: 3% in 2019 and 97% in 2020 4. As calculated under the treasury stock method For the Three Months ended December 31, 2018 (shares in millions) 2, 3 1 4 47.6 10.5 2.6 7.0 67.7 20.0 30.0 40.0 50.0 60.0 70.0 80.0 Basic Class A Common Shares Class A Partnership Units Held by EOs & MDs Class A Partnership Units Held by Pre-IPO Strategic Investor Unvested RSUs and Options Diluted Class A Shares / Exchangeable Units (As Adjusted)
  • 18.
    [ 17 ] %ofTotalDealCount Source:Thomson Reuters Notes: Represents percent of total company deal count; based on completed M&A transactions from 1/1/2013 to 12/31/2018; excludes transactions less than $100 million and those with no transaction value disclosed 1. PJT’s data represents Blackstone M&A from 1/1/2013 to 9/30/2015; PJT M&A from 10/1/15 – 12/31/18 1 Historical Deal Distribution by Transaction Size 49% 45% 43% 62% 42% 39% 20% 19% 21% 17% 18% 17% 31% 36% 36% 21% 40% 44% 0% 20% 40% 60% 80% 100% Moelis Evercore Greenhill Houlihan Lazard PJT $100mm - $500mm $500mm - $1.0bn >$1.0bn