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Investment Strategy
he express written consent of BofA Merrill Lynch. BofA Merril sed on public i | Lynch, including investment ba
: Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS); Merrill Lynch (Canada): Merrill Lynch Cana
: Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS); Merrill Lynch (Canada): Merrill Lynch Cana
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
: Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS): Merrill Lynch (Canada): Merrill Lynch Cana
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
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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 →nd Futures Commission (HKSFC) and the Hong Kong Monetary Authority (HKMA); Merrill Lynch (Singapore): Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS); Merrill Lynch (Canada): Merrill Lynch Canada Inc, regulated by the Investment Industry Regulatory Organization of Canada; errill Lynch (Mexic
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 Monetary Authority of Singapore

Donald Trump
PERSONthe Dubai Financial Services Authority
ORGANIZATION
Michael Bloomberg
PERSON
United Kingdom
LOCATION
Seoul
LOCATION
Frankfurt
LOCATION
Bank of America
ORGANIZATION
Merrill Lynch
ORGANIZATIONMerchant Bank
ORGANIZATIONPierce, Fenner & Smith Incorporated
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATION
the Financial Services Agency
ORGANIZATIONThe Financial Service Board
ORGANIZATIONthe Prudential Regulation Authority
ORGANIZATIONMerrill Lynch International Bank Limited
ORGANIZATIONthe Securities and Futures Bureau
ORGANIZATIONMerrill Lynch Canada Inc
ORGANIZATIONthe Investment Industry Regulatory Organization of Canada
ORGANIZATION
BANA Australia
ORGANIZATIONthe Financial Supervisory Service
ORGANIZATION