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olesale clients" as defined by the Financial Advisers Act 2008 (New Zealand). and should not be construed as advice. Note to Readers in Vietnam. the Philippines, Brunei. Thailand, Indonesia, China. Taiwan and India: This document is provided solely for the informational purposes of institutional investors an
d by AManceBernstein (Singapore) Ltd. CABSL". Company Registration No. 199703364C). ABSL is a holder of a Capital Markets Services Licence issued by the Monetary Authority of Singapore to conduct regulated activity in fund management and dealing in securities. AllanceBernstein (Luxemboug)S.A rl is the management company of the port
nd Exchange Commission. Indonesia: PTE. Morgan Securities Indonesia is a member of the Indonesia Stock Exchange and is regulated by the BAPEPAM LK. Philippines: E. Morgan Securities Philippines Inc. is a member of the Philippine Stock Exchange and is regulated by the Securities and Exchange Commission. Braz
JPMSS) [MICA (P) 08&04/2012 and Co. Reg. No.: 199405335R] which is a member of the Singapore Exchange Securities Trading Limited and is regulated by the Monetary Authority of Singapore (MAS) and/or JPMorgan Chase Bank. •., Singapore branch (JPMCB Singapore) which is regulated by the MAS. Malaysia: This material is issued and distr
ct 2001 (Cth of Australia) or the Financial Advisers Act 2008 (New Zealand), and should not be construed as advice. Note to Readers in Vietnam. the Philippines, Brunei. Thailand, Indonesia, China. Taiwan and India: This document is provided solely for the informatiorel purposes of institutional investors an
d by AlianceBernstein (Singapore) Ltd. CABSI:. Company Registration Na 199703364C). ABSL is a holder of a Capital Markets Services Licence issued by the Monetary Authority of Singapore to conduct regulated activity in fund management and dealing in securities. AlfianceBernstein (Luxembourg) SA r.l. is the management company of the
and Exchange Commission. Indonesia: PT5 Morgan Securities Indonesia is a member of the Indonesia Stock Exchange and is regulated by the BAPEPAM LK. Philippines: E. Morgan Securities Philippines Inc. is a member of the Philippine Stock Exchange and is regulated by the Securities and Exchange Commission. Braz
PMSS) [MICA (P) 032/0112012 and Co. Reg. No.: 199405335R] which is a member of the Singapore Exchange Securities Trading Limited and is regulated by the Monetary Authority of Singapore (MAS) and/or JPMorgan Chase Bank, S . Singapore branch (JPMCB Singapore) which is regulated by the MAS. Malaysia: This material is issued and dis
Exchange Commission. Indonesia: PT J.P. Morgan Securities Indonesia is a member of the Indonesia Stock Exchange and is regulated by the BAPEPAM LK. Philippines: J.P. Morgan Securities Philippines Inc. is a member of the Philippine Stock Exchange and is regulated by the Securities and Exchange Commission. Br
JPMSS) (MICA (P) 08804:2012 and Co. Reg. No.: 199405335R] which is a member of the Singapore Exchange Securities Trading Limited and is regulated by the Monetary Authority of Singapore I hIAS) and/or JPMorgan Chase Bank. N.A., Singapore branch (JPMCB Singapore) which is regulated by the MAS. Malaysia: This material is issued and di
2A -OA India 6.5 5.6 6.0 6.1 5.3 Indonesia 6.5 5/ 3.5 4.7 t ILO 1 Korea 3.6 2.3 3.2 3.5 1.1 Malaysia 5.1 LOT 3.71' 5.8 51 Philippines 3.8 5.3 35 121 01 Singapore 4.9 11 1 2.5 1 9.51 417 Taman 4.0 1.2 3.4 1.6 2.2 Thafazd 0.1 5.8 21 50.8 131 Africa/Middle East
JPMSS) [MICA (P) 0880472012 and Co. Reg. No.: 199405135R] which is a member of the Singapore Exchange Securities Trading Limited and is regulated by the Monetary Authority of Singapore (hi AS) andfor JPMorgan Chase Bank, N.A., Singapore branch (JPMCB Singapore) which is regulated by the MAS. Malaysia: This material is issued and di
Entities connected to both Philippines and the Monetary Authority of Singapore

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United States
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