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a member of NYSE. FINRA. SIPC and the NFA. JPMorgan Chase Bank, N.A. is a member of FDIC. U.K.: JPMorgan Chase N.A., London Branch, is authorised by the Prudential Regulation Authority and is subject to regulation by the Financial Conduct Authority and to limited regulation by the Prudential Regulation Authority. Deceits about the
mited is the liquidity provider/market maker for derivative warrants, callable bull bear contracts and stock options listed on the Stock Exchange of Hong Kong Limited. An updated list on be found on HKEx website: http://www.hkex.com.hk. Japan: There is a risk that a loss may occur due to a change in the price of t
member of NYSE, FINFtA, SIPC and the NFA. JPMorgan Chase Bank. M . is a member of FDIC. U.K.: JPMorgan Chase M.. London Branch, is authorised by the Prudential Regulation Authority and is subject to regulation by the Financial Conduct Authority and to limited regulation by the Prudential Regulation Authority. Details about the
mited is the liquidity provider/market maker for derivative warrants, callable bull bear contracts and stock options listed on the Stock Exchange of Hong Kong Limited. An updated list can be found on HKEx websitc: . Japan: There is a risk that a loss may occur due to a change in the price of the shares in the cas
a member of NYSE, FINRA, SIPC and the NFA. JPMorgan Chase Bank. N.A. is a member of FDIC. U.K.: JPMorgan Chase N.A.. London Branch, is authorised by the Prudential Regulation Authority and is subject to regulation by the Financial Conduct Authority and to limited regulation by the Prudential Regulation Authority. Details about the
mited is the liquidity provider/market maker for derivative warrants, callable bull bear contracts and stock options listed on the Stock Exchange of Hong Kong Limited. An updated list can be found on HKEx website: httpilwww.hkex.com.hk. Japan: There is a risk that a loss may occur due to a change in the price of t
a member of NYSE, FINRA, SIPC and the NFA. JPMorgan Chase Bank. N.A. is a member of FDIC. U.K.: JPMorgan Chase N.A.. London Branch. is authorised by the Prudential Regulation Authority and is subject to regulation by the Financial Conduct Authority and to limited regulation by the Prudential Regulation Authority. Details about the
mited is the liquidity provider/market maker for derivative warrants, callable bull bear contracts and stock options listed on the Stock Exchange of Hong Kong Limited. An updated list can be found on HKEx website: httpg/www.hkex.com.hk. Japan: There is a risk that a loss may occur due to a change in the price of t
a member of NYSE, FINRA, SIPC and the NFA. JPMorgan Chase Bank. NA. is a member of FDIC. U.K.: JPMorgan Chase N.A., London Branch, is authorised by the Prudential Regulation Authority and is subject to regulation by the Financial Conduct Authority and to limited regulation by the Prudential Regulation Authority. Details about the
mited is the liquidity provider/market maker for derivative warrants, callable bull bear contracts and stock options listed on the Stock Exchange of Hong Kong Limited. An updated list can be found on HKEx websitc: http://wvAv.hkex.com.h1c. Japan: There is a risk that a loss may occur due to a change in the price o
a member of NYSE, FINFtA, SIPC and the NFA. JPMorgan Chase Bank, M . is a member of FDIC. U.K.: JPMorgan Chase M. London Branch, is authorised by the Prudential Regulation Authority and is subject to regulation by the Financial Conduct Authority and to limited regulation by the Prudential Regulation Authority. Details about the
mited is the liquidity provider/market maker for derivative warrants, callable bull bear contracts and stock options listed on the Stock Exchange of Hong Kong Limited. An updated list can be found on HKEx wcbsitc: . Japan: There is a risk that a loss may occur due to a change in the price of the shares in the cas
a member of NYSE, FINRA, SIPC and the NFA. JPMorgan Chase Bank. N.A. is a member of FDIC. U.K.: JPMorgan Chase N.A., London Branch. is authorised by the Prudential Regulation Authority and is subject to regulation by the Financial Conduct Authority and to limited regulation by the Prudential Regulation Authority. Details about the
mited is the liquidity provider/market maker for derivative warrants, callable bull bear contracts and stock options listed on the Stock Exchange of Hong Kong Limited. An updated list can be found on HKEx 8 EFTA00293655 Jose h B. Nadol Ill North America Equity Research 24 April 2014 J.P.Morgan websitc: . J
a member of NYSE, FINRA, SIPC and the NFA. JPMorgan Chase Bank. N.A. is a member of FDIC. U.K.: JPMorgan Chase N.A.. London Branch. is authorised by the Prudential Regulation Authority and is subject to regulation by the Financial Conduct Authority and to limited regulation by the Prudential Regulation Authority. Details about the
mited is the liquidity provider/market maker for derivative warrants, callable bull bear contracts and stock options listed on the Stock Exchange of Hong Kong Limited. An updated list can be found on HKEx website: http://www.hkex.com.h1c. Japan: There is a risk that a loss may occur due to a change in the price of
Entities connected to both the Prudential Regulation Authority and Hong Kong Limited

Frankfurt
LOCATIONThe Financial Futures Association of Japan
ORGANIZATIONthe Capital Market Authority
ORGANIZATION
the Financial Services Agency
ORGANIZATIONthe Securities and Futures Commission
ORGANIZATION
Malaysia
LOCATION
JPMorgan Chase
ORGANIZATION
Philippines
LOCATION
Bloomberg L.P.
ORGANIZATION
New Zealand
LOCATION
the Ministry of Finance
ORGANIZATIONthe Central Bank of Brazil
ORGANIZATIONthe Indonesia Stock Exchange
ORGANIZATIONthe Mexican Stock Exchange
ORGANIZATIONEngland & Wales
LOCATIONCapital Markets Services License
ORGANIZATIONthe Karachi Stock Exchange
ORGANIZATIONDubai Branch
ORGANIZATIONJPMSAL
ORGANIZATIONthe Stock Exchange
ORGANIZATION