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e Securities and Exchange Board of India; Merrill Lynch (Indonesia): PT Merrill Lynch Sekuritas Indonesia, regulated by Otoritas Jasa Keuangan (OJK); Merri Valores; Merrill h) regulated by h Africa): Merrill Lynch | Lynch (Asia hority of h Mexico, SA de Lynch he DSP Merrill Lynch Limited, Il Lync
Page: HOUSE_OVERSIGHT_014885 →not insured by the Federal Deposit Insurance Corporation and are not deposits or other obligations of any insured depository institution (including, Bank of America, N.A.). Investments in general and, derivatives, in particular, involve numerous risks, including, among others, market risk, counterparty default risk an
Page: HOUSE_OVERSIGHT_014885 →Investment Strategy
; has been considered and distributed in Japan by Merrill Lynch (Japan), a registered securities dealer unde
d Merrill Lynch (Singapore} are regulated by MAS. Bank of America N.A, Australian Branch (ARBN 064 874 531), AFS Licens
; has been considered and distributed in Japan by Merrill Lynch (Japan), a registered securities dealer unde
d Merrill Lynch (Singapore} are regulated by MAS. Bank of America N.A.,, Australian Branch (ARBN 064 874 531), AFS Licen
; has been considered and distributed in Japan by Merrill Lynch (Japan), a registered securities dealer unde
d Merrill Lynch (Singapore} are regulated by MAS. Bank of America N.A, Australian Branch (ARBN 064 874 531), AFS Licens
; has been considered and distributed in Japan by Merrill Lynch (Japan), a registered securities dealer unde
d Merrill Lynch (Singapore} are regulated by MAS. Bank of America N.A, Australian Branch (ARBN 064 874 531), AFS Licens
es in the US (short name: legal name, regulator}: Merril International, regulated by the Financial Conduc
d Merrill Lynch (Singapore) are regulated by MAS. Bank of America N.A., Australian Branch (ARBN 064 874 531), AFS Licens
Price Objective Change
ingapore) (Company Registration regulated by MAS. Bank of America N.A, Australian Branch (ARBN 064 874 531), AFS Licens
his report as recorded in the report timestamp. Officers of MLPF&S or one or more o BofA Merrill Lynch Global Research "BofA Merrill Lynch" includes Merri its affiliates (other than research analysts) may policies relating to conflicts of interest are described at http://go.bofa.com/coi. have a financ
Page: HOUSE_OVERSIGHT_014394 →Earnings Preview
itas Jasa Keuangan (OJK); Merrill Lynch (Israel): Merrill Lynch Israel Limited, regulated by Israel Securiti
not insured by the Federal Deposit Insurance Corporation and are not deposits or other obligations of any insured depository institution (including, Bank of America, N.A.). Investments in general and, derivatives, in particular, involve numerous risks, including, among others, market risk, counterparty default risk and
Page: HOUSE_OVERSIGHT_014949 →by the Dubai Financial Services Authority (DFSA); Merrill Lynch (Spain): Merrill Lynch Capital Markets Espa
not insured by the Federal Deposit Insurance Corporation and are not deposits or other obligations of any insured depository institution (including, Bank of America, N.A.). Investments in general and, derivatives, in particular, involve numerous risks, including, among others, market risk, counterparty default risk and
Page: HOUSE_OVERSIGHT_016194 →not intended to be either a specific offer by any Merrill or Bank of America entity to sell or provide, or
ices. The banking, credit and trust services sold by Merrill’s Private Wealth Advisors are offered by licensed banks and trust companies, including Bank of America, N.A., Member FDIC, and other affiliated banks. Banking products are provided by Bank of America, N.A., and affiliated banks, Members FDIC and wholly owne
Page: HOUSE_OVERSIGHT_016803 →Entities connected to both Merri and Bank of America, N.A.

Donald Trump
PERSON
Merrill Lynch
ORGANIZATION
Bank of America Corporation
ORGANIZATION
Bank of America
ORGANIZATION
United Kingdom
LOCATION
Merrill Lynch Global Wealth Management
ORGANIZATIONMerchant Bank
ORGANIZATION
Frankfurt
LOCATION
Michael Bloomberg
PERSONILynch
ORGANIZATIONThe Financial Service Board
ORGANIZATIONMerrill Lynch International Bank Limited
ORGANIZATIONOtoritas Jasa Keuangan
ORGANIZATION
BofA Merrill Lynch
ORGANIZATIONMerrill Lynch (Asia Pacific) Limited
ORGANIZATIONMerrill Lynch Canada Inc
ORGANIZATIONthe Prudential Regulation Authority
ORGANIZATIONthe Investment Industry Regulatory Organization of Canada
ORGANIZATION
Seoul
LOCATIONMerrill Lynch International Incorporated
ORGANIZATION