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ISAL lot the purposes of thas ammo the talus "utak-sale clime and "mud ,dery hate dw meanings paten to them m ratan 7610 of ite Corp:canons An 2001. New Zealand: Ibis matetial is issuedand distributed byJP/610AL at New ?also] only to canons whose prinecul hunters s. the inveatneut of waxy or '.to. in the cou
s a member of the Philippine Stock Exchange and is regulated by the Securities and Exchange Commission. Brazil: Banco E. MorgLm S.A. is regulated by the Comissao de Valores Mobiliarios (CVM) and by the Central Bank of Brazil. Mexico: E. Morgan Casa dc Boise, S.A. de C.V., E. Morgan Gmpo Financiers is a member of the Mexican Stock E
in the Important Disclosures section above. India: For private circulation only, not for sale. Pakistan: For private circulation only, not for sale. New Zealand: This material is issued and distributed by JPMSAL in New Zealand only to persons whose principal business is the investment of money or who, in the
is a member of the Philippine Stock Exchange and is regulated by the Securities and Exchange Commission. Brazil: Banco. Morgan S.A. is regulated by the Comissao de Valores Mobiliarios (CVM) and by the Central Bank of Brazil. Mexico: 58 EFTA00606216 Dave Katz. CFA North America Credit Research 16 February 2012 J.P.Morgan Mor
in the Important Disclosures section above. India: For private circulation only, not for sale. Pakistan: For private circulation only, not for sale. New Zealand: This material is issued and distributed by JPMSAL in New Zealand only to persons whose principal business is the investment of money or who, in the
a member of the Philippine Stock Exchange and is regulated by the Securities and Exchange Commission. Brazil: Banco J.P. Morgan S.A. is regulated by the Comissao de Valores Mobiliarios (CVNI) and by the Central Bank of Brazil. Mexico: J.P. Morgan Casa de Boise. S.A. de C.V., l.P. Morgan Grupo Financiero is a member of the Mexican S
Entities connected to both New Zealand and the Comissao de Valores Mobiliarios

Malaysia
LOCATION
Philippines
LOCATION
Moody's
ORGANIZATIONthe Mexican Stock Exchange
ORGANIZATIONthe Dubai Financial Services Authority
ORGANIZATIONthe Capital Market Authority
ORGANIZATION
JPMorgan Chase
ORGANIZATIONthe Securities and Futures Commission
ORGANIZATIONKanto Local Finance Bureau
ORGANIZATION
Mumbai
LOCATIONThe Financial Futures Association of Japan
ORGANIZATION
the Ministry of Finance
ORGANIZATIONthe Indonesia Stock Exchange
ORGANIZATIONBombay Stock Exchange Limited
ORGANIZATIONthe Central Bank of Brazil
ORGANIZATIONthe Taiwan Securities and Futures Bureau
ORGANIZATIONthe Stock Exchange of Thailand
ORGANIZATIONthe Philippine Stock Exchange
ORGANIZATIONthe Hong Kong
LOCATIONEngland & Wales
LOCATION