Epstein Secrets

nstituent of @ CHINA mw KOREA = TAIWAN @ INDIA m SOUTH AFRICA @ BRAZIL SAUD: @ MEXICO m RUSSIA = MALAYSIA (EM) m= INDONESIA ~ THAILAND m@ PHILIPPINES TURKEY © CHILE = POLAND & QATAR m UAE @ COLOMBIA = PERU m GREECE m HUNGARY EGYPT m@ CZECH REPUBLIC Source: BofA Merrill Lynch Global Resear

bil SASREF Jubail 1986 305 114 50.0% Shell Petro Rabigh | Rabigh 1990 400 150 37.5% Sumitomo (37.5%, free float 25%) SATORP Jubail 2014 400 250 62.5% Total (37.5%) YASREF Yanbu 2015 400 250 62.5% Sinopec (37.5%) Total 1905 914 Total in Saudi Arabia 2,911 1,920 International refining JVs: S-Oil South Kore

ae} f= i} chile (1.2%) & I EM Russia (4.5%) Taiwan (12.2%) Korea (14.4%) Turkey (1.0%) Malaysia (2.5%) Thailand (2.3%} China (26.5%) Mexico (3.5%) Philippines (1.2%) Poland (1.1%) Indonesia (2.6%) India (8.3%) Brazil (7.7%) South Africa (7.1%) Data as of December 31, 2016. Note: Based on monthly data sin

Change in 6 Months Leading up to the November 2016 OPEC Meeting 12 m November 2016 Agreed Cut 1.0 0.8 0.6 0.4 0.2 0.0 -0.2 -0.4 ran raq Libya UAE Total Algeria Angola Ecuador Kuwait Nigeria Qatar Saudi Venezuela Data as of November 30, 2016. Source: Investment Strategy Group, Bloomberg, OPEC. Exhi

as of 2-Jun-17 Source: BofA Merrill Lynch Global Research. Data from 2-Jan-12 to 2-Jun-17 Foreign inflows into Korea, Taiwan, India, Indonesia, the Philippines, and Malaysia Notable trends and dislocations (Asia) Asian equity markets saw modest gains last week, led by Japan’s NKY index, which increased 2.5

UTRAL BP plc BP BP US Christopher Kuplent BP ple BPAQF BP/ LN Christopher Kuplent Repsol REPYY REPYY US Hamish Clegg Repsol REPYF REP SM Hamish Clegg Total TTFNF FP FP Christopher Kuplent Total TOT TOT US Christopher Kuplent UNDERPERFORM Neste NTOIF NESTE FH Georgia Harris OMV OMVJF OMV AV Hamish Clegg O

ths) underweight neutral overweight Equities T total Canada North America Cc wn > EMU Q UK 2 @ Swit

ces within Asia ex Japan (relative to MSCI Asia ex Japan) underweight neutral overweight China —————] Hong Kong India Indonesia | Korea a Malaysia | Philippines 7 Singapore Taiwan Thailand Others Bnew old For further information please contact ClO asset class specialist Kelvin Tay, [email protected] 20 Ple