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CY17 cY18 CY16 CY17 cY18 m@BofAML m= Consensus (Bloomberg, as of 15 Nov 2016) Source: BofA Merrill Lynch f
lica ited by the DFSA. Research rules. Bank of America Merrill Lynch Internati prepared and issued by M he Comisién Nacio' u Exc e hange Board of (DIFC Branch), re De Valores; Merrill iAra p nd Bank of America es of the FCA and PRA - details abo ies dealer u nd ri jon ed in Singa LIBLMB) an pore t ( ute
Page: HOUSE_OVERSIGHT_014422 →(SD) Source: BofA Merrill Lynch Global Research, Bloomberg Chart 5: Financials valuations have recovered si
ia): OOO Merrill Lynch Securities, Moscow, regulated by the Central Bank of the Russian Federation; Merrill Lynch DIFC}: Merrill Lynch International (DIFC Branch}, regulated by the Dubai Financial Services Authority (DFSA); Merrill Lynch (Spain): Merrill Lynch Capital Markets Espana, S.AS.V., regulated by Comi
Page: HOUSE_OVERSIGHT_014496 →uy 70.0% Short interest % of float 2.25% Source: Bloomberg and BofA Merrill Lynch Global Research estimates
ia): OOO Merrill Lynch Securities, Moscow, regulated by the Central Bank of the Russian Federation; Merrill Lynch DIFC}: Merrill Lynch International (DIFC Branch), regulated by the Dubai Financial Services Authority (DFSA); Merrill Lynch (Spain): Merrill Lynch Capital Markets Espana, S.A.S.V., regulated by Com
Page: HOUSE_OVERSIGHT_014650 →(RHS) Source: BofA Merrill Lynch Global Research, Bloomberg. Daily data from Jan-90 to 5-Jun-17. The politic
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Page: HOUSE_OVERSIGHT_023609 →Entities connected to both Michael Bloomberg and DIFC Branch

Bloomberg L.P.
ORGANIZATION
Donald Trump
PERSON
Marc Rich
PERSON
United States
LOCATION
Barack Obama
PERSON
Paul Ryan
PERSON
United Kingdom
LOCATION
Frankfurt
LOCATION
Merrill Lynch
ORGANIZATION
Bank of America
ORGANIZATION
U.S. Treasury
ORGANIZATION
Seoul
LOCATION
Merrill Lynch Global Wealth Management
ORGANIZATIONthe Dubai Financial Services Authority
ORGANIZATION
Bank of America Corporation
ORGANIZATIONMerchant Bank
ORGANIZATIONthe Prudential Regulation Authority
ORGANIZATION
BofA Merrill Lynch
ORGANIZATIONPierce, Fenner & Smith Incorporated
ORGANIZATIONThe Monetary Authority of Singapore
ORGANIZATION