the Financial Services Board
ORGANIZATIONa Participating Organization of Bursa Malaysia Ballad
ORGANIZATION3
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. El4 5JP. South Africa: M. Morgan Equities South Africa Proprietary Limited is a member of the Johannesburg Securities Exchange and is regulated by the Financial Services Board. Hong Kong: S. Morgan Securities (Asia Pacific) Limited (CE number AAJ32I ) is regulated 5 EFTA00306887 Chits Schott. CFA North America Equity R
Services Agency in Japan. Malaysia: This material is issued and distributed in Malaysia by JPMorgan Securities (Malaysia) Sdn Bhd (18146-X) which is a Participating Organization of Bursa Malaysia Ballad and a holder of Capital Markets Services License issued by the Securities Commission in Malaysia. Pakistan:1. P. Morgan Pakistan Broking (Pvt.) Ltd
El4 SIP. South Africa: J.P. Morgan Equities South Africa Proprietary Limited is a member of the Johannesburg Securities Exchange and is regulated by the Financial Services Board. Hong Kong: J.P. Morgan Securities (Asia Pacific) Limited (CE number AAJ321) is regulated by the Hong Kong Monetary Authority and the Securities and
Services Agency in Japan. Malaysia: This material is issued and distributed in Malaysia by JPMorgan Securities (Malaysia) Sdn Bhd (18146-X) which is a Participating Organization of Bursa Malaysia Ballad and a holder of Capital Markets Services License issued by the Securities Commission in Malaysia. Pakistan: J. P. Morgan Pakistan Stoking (Psi.) Ltd
El4 SIP. South Africa: J.P. Morgan Equities South Africa Proprietary Limited is a member of the Johannesburg Securities Exchange and is regulated by the Financial Services Board. Hong Kong: J.P. Morgan Securities (Asia Pacific) Limited (CE number AAJ32 I ) is regulated by the Hong Kong Monetary Authority and the Securities a
Services Agency in Japan. Malaysia: This material is issued and distributed in Malaysia by JPMorgan Securities (Malaysia) Sdn Bhd (18146-X) which is a Participating Organization of Bursa Malaysia Ballad and a holder of Capital Markets Services License issued by the Securities Commission in Malaysia. Pakistan: J. P. Morgan Pakistan Broking (Pvt.) Ltd
Entities connected to both the Financial Services Board and a Participating Organization of Bursa Malaysia Ballad

Frankfurt
LOCATION
the Financial Services Agency
ORGANIZATION
JPMorgan Chase
ORGANIZATION
Philippines
LOCATION
Malaysia
LOCATION
New Zealand
LOCATION
Bloomberg L.P.
ORGANIZATION
the Ministry of Finance
ORGANIZATIONthe Capital Market Authority
ORGANIZATIONthe Securities and Exchange Commission
ORGANIZATIONthe Stock Exchange of Thailand
ORGANIZATIONthe Central Bank of Brazil
ORGANIZATIONthe Philippine Stock Exchange
ORGANIZATION
Mumbai
LOCATIONthe Indonesia Stock Exchange
ORGANIZATIONthe Securities and Futures Commission
ORGANIZATIONthe Securities Commission
ORGANIZATIONEngland & Wales
LOCATIONThe Financial Futures Association of Japan
ORGANIZATIONJapan Investment Advisers Association
ORGANIZATION