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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
a Financial Su rvisory Service. Australia: `Morgan Australia Limited (JPMAL) (ABN 52 002 888 01 I/AFS Licence No: 238188) is regulated by ASIC and.. Morgan Securities Australia Limited (JPMSAL) (ABN 61 003 245 234/AFS Licence No: 238066) is regulated by ASIC and is a Market, Clearing and Settlement Participant of ASX Limited and CH
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
Financial Supervisory Service. Australia: s Morgan Australia Limited (JPMAL) (ABN 52 002 888 01 I/AFS Licence No: 238188) is regulated by ASIC and Morgan Securities Australia Limited (JPMSAL) (ABN 61 003 245 234/AFS Licence No: 238066) is regulated by ASIC and is a Market, Clearing and Settlement Participant of ASX Limited and CH
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
ncial Supervisory Service (FSS). Australia:. Morgan Australia Limited (JPMAL) (ABN 52 002 888 011/AFS Licence No: 238188) is regulated by ASIC and a Morgan Securities Australia Limited (JPMSAL) (ABN 61 003 245 234/AFS Licence No: 238066) is regulated by ASIC and is a Market. Clearing and Settlement Participant of ASX Limited and CH
Entities connected to both the Securities and Futures Commission and Morgan Securities Australia Limited

Malaysia
LOCATION
New Zealand
LOCATION
Philippines
LOCATIONthe Capital Market Authority
ORGANIZATION
JPMorgan Chase
ORGANIZATIONThe Financial Futures Association of Japan
ORGANIZATIONBombay Stock Exchange Limited
ORGANIZATIONthe Stock Exchange of Thailand
ORGANIZATIONthe Philippine Stock Exchange
ORGANIZATIONthe Central Bank of Brazil
ORGANIZATION
the Ministry of Finance
ORGANIZATIONthe Indonesia Stock Exchange
ORGANIZATIONthe Mexican Stock Exchange
ORGANIZATIONthe Taiwan Securities and Futures Bureau
ORGANIZATIONKanto Local Finance Bureau
ORGANIZATIONthe Securities and Exchange Commission
ORGANIZATIONEngland & Wales
LOCATIONthe Securities Commission
ORGANIZATIONthe Karachi Stock Exchange
ORGANIZATION
Frankfurt
LOCATION