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ined under the Financial Advisers Regulations) by Merrill Lynch Interna Bank Limited (Merchant Bank} (MLIBLMB} and Merrill
LPF&S and is not registered/qualified as a research analyst under the FINRA rules. Refer to "Other Important Disclosures" for information on certain BofA Merrill Lynch entities that take responsibility for this report in particular jurisdictions. BofA Merrill Lynch does and seeks to do business with issuers covered
Page: HOUSE_OVERSIGHT_014404 →uted in the Uni errill Lynch Interna the PRA) by Merrill Lynch Interna ut the extent of our regulation by jon in relati
privacy policies at third-party websites before bject to change without notice. BofA Merrill Lynch is under no obligation to update this report and BofA Merrill Lynch's ability to publish research on the subject issuer(s) in the future is subject to applicable quiet periods. You should therefore assume that BofA Mer
Page: HOUSE_OVERSIGHT_014423 →which is regu jon in Hong Kong and are not directed to, or Lynch (Taiwan); is issued and distributed in India by DSP Merrill Advisers Regulations) by Merrill Lynch Interna dd 198602883D respectively). MLIBLMB and Merrill Lynch (Singapore) are ralia) and Merrill Lynch Equities (Australia) Limited (ABN 65 006 276 795), AF
Page: HOUSE_OVERSIGHT_014729 →sclaims any liability for them. he date of the report and are subject toc notice. BofA Merrill Lynch is under no obligation to update this report and BofA Merrill Lynch's ability to publish research ont periods. You should therefore assume that BofA Merrill Lynch will not update any Certain outstanding reports may cont
Page: HOUSE_OVERSIGHT_014730 →Estimate Change
Valores Mobiliarios; Merrill Lynch KSA Company, Merrill Lynch In Bank Limited (Merchant Bank} (MLIBLMB) and Merrill
% EV / EBITDA* 17.2x NM 9 9x 6.4x 5 Ax Free Cash Flow Yield* -13.2% 81% 3.8% -0.3% 3.17% * For full definitions of ‘Qnethod™ measures, see page 11. BofA Merrill Lynch does and seeks to do business with issuers covered in its research reports. As a result, investors should be aware that the firm may have a conflict
Page: HOUSE_OVERSIGHT_014873 →o F&S and not such ributed in the Uni ntern K): Merrill Lynch In d, regulated by the A mmission (HKSFC); ated by t
LPF&S and is not registered/qualified as a research analyst under the FINRA rules. Refer to "Other Important Disclosures" for information on certain BofA Merrill Lynch entities that take responsibility for this report in particular jurisdictions. BofA Merrill Lynch does and seeks to do business with issuers covered
Page: HOUSE_OVERSIGHT_014972 →one or more o istributed to F&S and not such K): Merrill Lynch In d, regulated by the A mmission (HKSFC); ated by t
analyst under EEMUS 15.4(-0.1) 13.2 (08) the FINRA rules. TOP4O 1511.0) — 109(00) Refer to "Other Important Disclosures" for information on certain BofA Merrill Lynch entities that take oy ne responsibility for this report in particular jurisdictions. RDX 24.7 (1.2) 21.3(0.0) BofA Merrill Lynch does and seeks to
Page: HOUSE_OVERSIGHT_023575 →Entities connected to both BofA Merrill Lynch and Merrill Lynch Interna

Bank of America
ORGANIZATION
Merrill Lynch
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATION
United Kingdom
LOCATION
Donald Trump
PERSON
Bank of America Corporation
ORGANIZATION
Michael Bloomberg
PERSON
Frankfurt
LOCATIONMerrill Lynch International Incorporated
ORGANIZATIONMerchant Bank
ORGANIZATIONPierce, Fenner & Smith Incorporated
ORGANIZATIONthe Central Bank of Ireland
ORGANIZATIONILynch
ORGANIZATIONMerrill Lynch (Asia Pacific) Limited
ORGANIZATION
Merri
ORGANIZATIONOtoritas Jasa Keuangan
ORGANIZATIONThe Financial Service Board
ORGANIZATIONMerrill Lynch Canada Inc
ORGANIZATIONMerrill Lynch KSA Company
ORGANIZATIONMerrill Lynch International Bank Limited
ORGANIZATION