Epstein Secrets

Change in 6 Months Leading up to the November 2016 OPEC Meeting 12 m November 2016 Agreed Cut 1.0 0.8 0.6 0.4 0.2 0.0 -0.2 -0.4 ran raq Libya UAE Total Algeria Angola Ecuador Kuwait Nigeria Qatar Saudi Venezuela Data as of November 30, 2016. Source: Investment Strategy Group, Bloomberg, OPEC. Exhi

ces given to any person by GSCo, GSI, and/or GSSP in Australia are provided ursuant to ASIC Class Orders 03/1100; 03/1099; and 03/1102 respectively. Bahrain: GSI represents and warrants hat it has not made and will not make any invitation to the public in the ingdom of Bahrain to subscribe for he fund. Th

Foreign securities 55 61 66 7 85 85 87 97 98 Source: Haver, SAMA, IMF, SFD, BofA Merrill Lynch Global Research. Middle East oil exporters consist of Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. OS merrill Lynch GEMs Paper #26 | 30 June 2016 9 HOUSE_OVERSIGHT_01611

bil SASREF Jubail 1986 305 114 50.0% Shell Petro Rabigh | Rabigh 1990 400 150 37.5% Sumitomo (37.5%, free float 25%) SATORP Jubail 2014 400 250 62.5% Total (37.5%) YASREF Yanbu 2015 400 250 62.5% Sinopec (37.5%) Total 1905 914 Total in Saudi Arabia 2,911 1,920 International refining JVs: S-Oil South Kore

ths) underweight neutral overweight Equities T total Canada North America Cc wn > EMU Q UK 2 @ Swit

amas) Ltd and is not intended for distribution to persons designated as a Bahamian citizen or residen under the Bahamas Exchange Control Regulations. Bahrain: UBS AG is a Swiss bank not licensed, supervised or regulated in Bahrain by the Central Bank of Bahrain and does not undertake banking or investment