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5 EFTA00306887 Chits Schott. CFA North America Equity Research (t-21216225676 02 June 2014 J.P.Morgan by the Hong Kong Monetary Authority and the Securities and Futures Commission in Hong Kong and/or E. Morgan Broking (Hong Kong) Limited (CE number AAB027) is regulated by the Securities and Futures Commission in Hong Kong. Kor
erall firm revenues. Other Disclosures Morgan ('PM") is the global brand name for 1. Morgan Securities LLC ("JPMS") and its affiliates worldwide... Morgan Cazenove is a marketing name for the U.K. investment banking businesses and EMEA cash equities and equity research businesses of JPMorgan Chase & Co. and its
is regulated by the FSB. Hong Kong: Morgan Securities (Asia Pacias) Limited (CE number AAJ321) is regulated by the Hong Kong Monetary Authority and the Securities and Futures Commission in Hong Kong. Korea: M. Morgan Securities (Far East) Ltd, Seoul Branch, is regulated by the Korea Financial Supervisory Service. Australia: IS Morga
verage in its business. Other Disclosures Morgan (1PM") is the global brand name for `Morgan Securities LLC ("JPMS") and its affiliates worldwide. Morgan Cazenove is a marketing name for the U.K. investment banking businesses and EMEA cash equities and equity research businesses of JPMorgan Chase & Co. and its
ancial Services Board. Hong Kong:. Morgan Securities (Asia Pacific) Limited (CE number AAJ32 ) is regulated by the Hong Kong Monetary Authority and the Securities and Futures Commission in Hong Kong. Korea: • Morgan Securities (Far East) Ltd, Seoul Branch. is regulated by the Korea Financial Supervisory Service. Australia: s Morgan
all firm revenues. Other Disclosures E. Morgan ("JPM") is the global brand name for Morgan Securities LLC ("JPMS") and its affiliates worldwide... Morgan Cazenove is a marketing name for the U.K. investment banking businesses and EMEA cash equities and equity research businesses of JPMorgan Chase & Co. and its
nancial Services Board. Hong Kong: Morgan Securities (Asia Pacific) Limited (CE number AAJ321) is regulated by the Hong Kong Monetary Authority and the Securities and Futures Commission in Hong Kong and/or U. Morgan Woking (Hong Kong) Limited (CE number AA B027) is regulated by the Securities and Futures Commission in Hong Kong. Kor
verall firm revenues. Other Disclosures Morgan ("JPM") is the global brand name for Morgan Securities LLC ("JPMS") and its affiliates worldwide. • Morgan Cazenove is a marketing name for the U.K. investment banking businesses and EMEA cash equities and equity research businesses of JPMorgan Chase & Co. and its
Entities connected to both the Securities and Futures Commission and Morgan Cazenove

Malaysia
LOCATION
New Zealand
LOCATIONthe Capital Market Authority
ORGANIZATION
JPMorgan Chase
ORGANIZATIONThe Financial Futures Association of Japan
ORGANIZATION
Philippines
LOCATIONBombay Stock Exchange Limited
ORGANIZATION
the Ministry of Finance
ORGANIZATIONthe Philippine Stock Exchange
ORGANIZATIONthe Taiwan Securities and Futures Bureau
ORGANIZATIONthe Mexican Stock Exchange
ORGANIZATIONthe Indonesia Stock Exchange
ORGANIZATIONthe Stock Exchange of Thailand
ORGANIZATIONthe Central Bank of Brazil
ORGANIZATIONEngland & Wales
LOCATIONKanto Local Finance Bureau
ORGANIZATION
European Economic Area
LOCATIONthe Hong Kong
LOCATIONthe Stock Exchange
ORGANIZATIONthe Securities and Exchange Commission
ORGANIZATION