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Investment Strategy
d Merrill Lynch (Singapore} are regulated by MAS. Bank of America N.A, Australian Branch (ARBN 064 874 531), AFS Licens
at current levels. The fundamental bull case for Health rests on the strong pipeline of new products for
d Merrill Lynch (Singapore} are regulated by MAS. Bank of America N.A, Australian Branch (ARBN 064 874 531), AFS Licens
at current levels. The fundamental bull case for Health rests on the strong pipeline of new products for
and Merrill Lynch ingapore) are regulated by MAS. Bank of America N.A,, Australian Branch (ARBN e this report in Austra
3% -] 2% 74 3.1% = 2% 3.2 -0.4% 0 54% 0.9% SXDP (Health) 3.1% -0.6% 2% 86% 0.9% -/ 2% 115 24% -14 2% 4]
ncrease penetration of higher margin offerings 48 Health: Not Tremendously Prescriptive 51 Vision 2030 a s
not insured by the Federal Deposit Insurance Corporation and are not deposits or other obligations of any insured depository institution (including, Bank of America, N.A.). Investments in general and, derivatives, in particular, involve numerous risks, including, among others, market risk, counterparty default risk and
Page: HOUSE_OVERSIGHT_016194 →Quantitative Analysis
ervices 1,720 Tax credit for orphan drug research Health 100 Exclusion & deferral of policyholder income e
not insured by the Federal Deposit Insurance Corporation and are not deposits or other obligations of any insured depository institution (including, Bank of America, N.A.). Investments in general and, derivatives, in particular, involve numerous risks, including, among others, market risk, counterparty default risk and
Page: HOUSE_OVERSIGHT_023094 →Entities connected to both Bank of America, N.A. and HealthCap

Donald Trump
PERSON
United Kingdom
LOCATION
Bank of America Corporation
ORGANIZATION
Michael Bloomberg
PERSON
Bank of America
ORGANIZATION
Merrill Lynch
ORGANIZATIONMerchant Bank
ORGANIZATIONThe Financial Service Board
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATION
Frankfurt
LOCATION
Seoul
LOCATIONMerrill Lynch (Asia Pacific) Limited
ORGANIZATIONthe Securities and Futures Bureau
ORGANIZATIONDSP Merrill Lynch Limited
ORGANIZATIONMerrill Lynch Argentina SA
ORGANIZATIONILynch
ORGANIZATIONthe Prudential Regulation Authority
ORGANIZATIONMerrill Lynch KSA Company
ORGANIZATIONthe Financial Supervisory Service
ORGANIZATIONMerrill Lynch International Incorporated
ORGANIZATION