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Investment Strategy
he express written consent of BofA Merrill Lynch. BofA Merril sed on public i | Lynch, including investment ba
national Incorporated (Seoul Branch) regulated by the Financial Supervisory Service; Merrill Lynch (Taiwan): Merrill Lynch Securities
national Incorporated (Seoul Branch) regulated by the Financial Supervisory Service; Merrill Lynch (Taiwan): Merrill Lynch Securities
in jo security, finance! by the U.K. regulatory regime, including the Financial Services Scheme, do not apply in general to business coordinated by BofA Merrill are described at http://go.bofa.com/coi. ments linked to securities that may have been recommended in this report. MLPF&S or one of its instruments
Page: HOUSE_OVERSIGHT_014430 →Investment Strategy
national Incorporated (Seoul Branch) regulated by the Financial Supervisory Service; Merrill Lynch (Taiwan): Merrill Lynch Securities
rch personnel are based on information known to, professionals in other business areas of BofA Merrill Lynch, including investment banking personnel. BofA Merrill Research and certain business groups. As a resul research reports. To the extent this report discusses any legal proceeding or issue , BofA her off
Page: HOUSE_OVERSIGHT_014458 →national Incorporated (Seoul Branch) regulated by the Financial Supervisory Service; Merrill Lynch (Taiwan): Merrill Lynch Securities
t of In the event therewith quity securities o he implementation rt. °o uding ADRs, effectively assume currency risk. de of the United Kingdom. BofA Merrill h h @ persons who prepared them, and Bo is report. LPF&S may be deemed beyond the delivery of this report (unless otherwise agreed 5| transactio
Page: HOUSE_OVERSIGHT_014651 →l Lynch CV, Casa de Bolsa, regulated by japan): Merri Financial Supervisory Service; regulated by the Securities and Excl Lynch Israe
eutsche Bank, ING Group, LPF&S together with its affiliates ownership position on he report: BNP Paribas The issuer is or was, wi ntesa, Santander. BofA Merrill Corporation, inc ved , Deutsche Bi hin the last ysts responsible for covering iliate was a manager of a pub compensa compensa ceive or in ntesa,
Page: HOUSE_OVERSIGHT_014999 →ities Co, Ltd. regulated by the Financial Services Agency; Merrill Lynch (Seoul): Merrill Lynch International ncorporated (Seoul Branch) regulated by the Financial Supervisory Service; Merrill Lynch (Taiwan): Merrill Lynch Securities (Taiwan) Ltd., regulated by the Securities and Futures Bureau; DSP errill Lynch (India): DSP Merril
Page: HOUSE_OVERSIGHT_026002 →ons, conclusion, or information con an authorized officer of BofA Merrill Lynch. ed in this material | Lynch, including investment banking personnel. BofA Merrill jons that are inconsistent rames, assumptions, views and analytical ‘0 the attention of any and in connection ly and does not extend with the execu
Page: HOUSE_OVERSIGHT_026003 →Entities connected to both BofA Merrill and the Financial Supervisory Service

Bank of America
ORGANIZATION
Merrill Lynch
ORGANIZATIONMerchant Bank
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United Kingdom
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Donald Trump
PERSON
Merrill Lynch Global Wealth Management
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Frankfurt
LOCATIONthe Securities and Futures Bureau
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Seoul
LOCATIONThe Financial Service Board
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Michael Bloomberg
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BofA Merrill Lynch
ORGANIZATIONPierce, Fenner & Smith Incorporated
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Bank of America Corporation
ORGANIZATIONMerrill Lynch (Asia Pacific) Limited
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the Financial Services Agency
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