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Bureau; DSP Merrill Lynch (India): DSP Merrill Lynch Limited, regulated by the Securities and Exchange Board of India; PT Merrill Lynch (Indonesia): PT Merrill Lynch Indonesia, regulated by Otoritas Jasa Keuangan (OJK); Merrill Lynch (Israel): Merrill Lynch srael Limited, regulated by Israel Securities Authority; Merrill Ly
Page: HOUSE_OVERSIGHT_014457 →art, or in any form or manner, without and client websites and other portals by BofA review of this research report consti (including any investmen BofA Merrill Lynch Global hould consult their ow ny BofA Merrill Lynch en n public information. Fac pa | ities. None of MLPF&S, any of i Research policy prohibits rese conta
Page: HOUSE_OVERSIGHT_014458 →Bureau; DSP Merrill Lynch (India): DSP Merrill Lynch Limited, regulated by the Securities and Exchange Board of India; PT Merrill Lynch (Indonesia): PT Merrill Lynch Indonesia, regulated by Otoritas Jasa Keuangan (OJK); Merrill Lynch (Israel): Merrill Lynch srael Limited, regulated by Israel Securities Authority; Merrill Ly
Page: HOUSE_OVERSIGHT_014650 →retransmitted or disclosed, in whole simultaneously to interna review of this research report consti (including any investmen Materials prepared by BofA Merrill Lynch Global Rese utes your agree information known to, professionals in other business areas of BofA Merri BofA researc hould erri Research and certain busin
Page: HOUSE_OVERSIGHT_014651 →Quantitative Analysis
he fundamentals of the companies and their own individual circumstances/abjective before making any investment decisions. Source: FactSet, Bloomberg, BofA Merrill Lynch Global research estimates, BofA Merrill Lynch US Equity & US Quant Strategy 20 Equity Strategy Focus Point | 29 January 2017 HOUSE_OVERSIGHT_023088 Bank
Page: HOUSE_OVERSIGHT_023089 →Bureau; DSP Merrill Lynch (India): DSP Merrill Lynch Limited, regulated by the Securities and Exchange Board of India; PT Merrill Lynch (Indonesia): PT Merrill Lynch Indonesia, regulated by Otoritas Jasa Keuangan (O)K); Merrill Lynch (Israel): Merrill Lynch srael Limited, regulated by Israel Securities Authority; Merrill Ly
Page: HOUSE_OVERSIGHT_023094 →Entities connected to both PT Merrill Lynch Indonesia and BofA Merrill Lynch Global

Merrill Lynch Global Wealth Management
ORGANIZATION
Bank of America
ORGANIZATION
Bank of America Corporation
ORGANIZATIONMerchant Bank
ORGANIZATIONBank of America Merrill Lynch International Limited
ORGANIZATIONMerrill Lynch International Bank Limited
ORGANIZATION
Merrill Lynch
ORGANIZATIONThe Financial Service Board
ORGANIZATIONMerrill Lynch International
ORGANIZATIONMerrill Lynch Canada Inc
ORGANIZATIONthe Investment Industry Regulatory Organization of Canada
ORGANIZATION
Donald Trump
PERSON
Frankfurt
LOCATION
United Kingdom
LOCATION
Seoul
LOCATION
the Financial Services Agency
ORGANIZATIONthe Dubai Financial Services Authority
ORGANIZATION
BANA Australia
ORGANIZATIONMerrill Lynch Argentina SA
ORGANIZATIONthe Financial Supervisory Service
ORGANIZATION