AN EVOLVING CULTURE
Given the growth of our Firm over the past five years and our expansion into new markets and regions, our culture continues to evolve, with employee-shareholders now in nearly 30 offices in 10 countries spanning three continents. While we continue to adapt and change, we believe, at our core, that Jefferies has maintained the rare Wall Street culture of a creative, proactive, client-focused, relationship-driven firm. Our professionals possess a high level of integrity and are mandated to always do what is in the best interest of our clients and our Firm.

Employee Ownership continues to be an important part of the Firm's culture and strategy. Internal ownership is nearly 40 percent of the outstanding equity of the Firm. Through various stock ownership programs, all Jefferies' employee-partners are encouraged to take part in the firm that we are building and the value we are creating together. We believe that ownership alignment is the best motivator for long-term success.

Philanthropy. Together with the help of clients and vendors, our Firm and our employees have contributed more than $42 million in donations toward a broad range of important causes including relief efforts for natural disasters and terrorist attacks, cancer research and youth programs. The Firm and its employees also support a wide range of important causes through its charitable matching gift program. In addition, the Firm's scholarship program supports the education of the children of Jefferies' employees, and has granted more than 760 high school and college scholarships over the past 27 years.

Diversity. Promoting a diverse workforce is important to us, and we seek to enrich our Firm and our culture by recruiting individuals from diverse cultures and backgrounds with wide-ranging experience and academic achievement from all over the world. Each employee brings his or her unique perspective and outlook to the exceptional platform that collectively is Jefferies.