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outside of the United Kingdom. BofA errill Lyne h Global Researc| MLPF&S or one of its affiliates is a regular iss
ynch | the FCA and the PRA) by RA - details about Lynch (Japan), a registered securities dea investors a
Investment Strategy
u rading position (long or short} in the securiti Lynch, through business units other than Bo ith, and re
public information. Facts and views presented in this material that rela professionals in other busi This re securities. None of MLPF&S, any of i Global Research policy prohibits rese report containing such rating, recommendation or investment thesis. Any in seek tax advice based on tl The information herein
Page: HOUSE_OVERSIGHT_014409 →Estimate Change
Lynch | Lynch (Asia hority of h Mexico, SA de Lynch he DSP Merrill Lynch Limited, Il Lynch (Israel)
, any of its affiliates or their research analysts has any authority whatsoever to make any representation or warranty on behalf of the issuer(s). Bo Global Research policy prohibits research personnel from disclosing a recommendation, investment rating, or investment thesis for review by an issuer prior to the v
Page: HOUSE_OVERSIGHT_014886 →Earnings Preview
Issuer prior to making an investment decision. | Lynch is under no obligation to ensure that such menti
= -1.2% = 5.0% = -3.1% ~=— 6.0% ~=—-0.9% 8.9% -14% 29% 4.2% 3.0% 0.4% —-1.0% 3.3% -2.4% 3.6% Source: Smith Travel Research (STR), BofA Merrill Lynch Global Research estimates; Note: **March data is month to date Estimates vs. Consensus: In-line 1Q revenue and EPS We expect 1Q revenue/EPS of $2.13bn/S0.07 vs. the
Page: HOUSE_OVERSIGHT_014906 →Entities connected to both Global Research and ILynch

Bank of America
ORGANIZATION
Bank of America Corporation
ORGANIZATION
Merrill Lynch
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Donald Trump
PERSON
United Kingdom
LOCATION
Merrill Lynch Global Wealth Management
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Michael Bloomberg
PERSONMerchant Bank
ORGANIZATION
Frankfurt
LOCATION
BofA Merrill Lynch
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Seoul
LOCATIONMerrill Lynch (Asia Pacific) Limited
ORGANIZATIONThe Financial Service Board
ORGANIZATIONthe Securities and Futures Bureau
ORGANIZATIONMerrill Lynch International Incorporated
ORGANIZATIONMerrill Lynch International Bank Limited
ORGANIZATION
Marc Rich
PERSON
Bank of America, N.A.
ORGANIZATIONPierce, Fenner & Smith Incorporated
ORGANIZATIONMerrill Lynch Canada Inc
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