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donesia Stock Exchange and is regulated by the OJK a.k.a. BAPEPAM LK. Philippines: E. Morgan Securities Philippines Inc. is a Trading Participant of the Philippine Stock Exchange and a member of the Securities Clearing Corporation of the Philippines and the Securities Investor Protection Fund. It is regulated by the Securitie
erage universe. If it does not appear in the Ira runt Disclosures section of this report, the cettifying analyst's coverage universe can be found on M. Morgan's research website, Coverage Universe: Schott, Christopher: AbbVie (ABBV), Actavis plc (ACT), Allergan (AGN), Amarin Corporation (AMRN), Bristol-Mye
y-14 OW 57.11 64.00 4 EFTA00306886 Chris Schott. CFA North America Equity Research 1-21 622-5676 02 June 2014 J.P.Morgan The chart(s) show M. Morgan's continuing coverage of the stocks; the current analysts may or may not have covered it over the entire riot M. Morgan ratings or designations: OW -
nesia Stock Exchange and is regulated by the OJK a.k.a. BAPEPAM LK. Philippines: J.P. Morgan Securities Philippines Inc. is a Trading Participant of the Philippine Stock Exchange and a member of the Securities Clearing Corporation of the Philippines and the Securities Investor Protection Fund. It is regulated by the Securitie
OW 72.67 85.00 18-0ec-13 OW 73.59 100.00 EFTA00300342 Coon Ktorerom North America Equity Research 22 May 2014 J.RMorgan The chart(s) show M. Morgan's continuing coverage of the stocks; the current analysts may or may not have covered it over the entire period. J.P. Morgan ratings or designations:
ia is a member of the Indonesia Stock Exchange and is regulated by the BAPEPAM LK. Philippines: E. Morgan Securities Philippines Inc. is a member of the Philippine Stock Exchange and is regulated by the Securities and Exchange Commission. Brazil: Banco. Morgan S.A. is regulated by the Comissao de Valores Mobiliarios (CVM) and
), and Underwei ht (over the next three months, the recommended risk position is expected to underperform the relevant index, sector, or benchmark). M. Morgan's Emerging Market research uses a rating of Markenveight, which is equivalent to a Neutral rating. Valuation & Methodology: In M. Morgan's credit res
Indonesia Stock Exchange and is regulated by the OJK a.k.a. BAPEPAM LK. Philippines: Morgan Securities Philippines Inc. is a Trading Participant of the Philippine Stock Exchange and a member of the Securities Clearing Corporation of the Philippines and the Securities Investor Protection Fund. It is regulated by the Securitie
4 OW 57.11 64.00 10-Oct-14 OW 59.21 66.00 20-Jan-15 OW 63.03 68.00 21-Sep-15 OW 52.13 65.00 30-Sep-15 OW 49.39 66.00 The chart(s) show M. Morgan's continuing coverage of the stocks; the current analysts may or may not have covered it over the entire M. Morgan ratings or designations: OW Overwei
Entities connected to both the Philippine Stock Exchange and M. Morgan's

JPMorgan Chase
ORGANIZATION
the Ministry of Finance
ORGANIZATION
New Zealand
LOCATIONthe Mexican Stock Exchange
ORGANIZATIONthe Central Bank of Brazil
ORGANIZATIONthe Securities and Futures Commission
ORGANIZATIONthe Indonesia Stock Exchange
ORGANIZATIONthe Stock Exchange of Thailand
ORGANIZATIONBombay Stock Exchange Limited
ORGANIZATIONthe Taiwan Securities and Futures Bureau
ORGANIZATION
Malaysia
LOCATION
Philippines
LOCATIONKanto Local Finance Bureau
ORGANIZATIONThe Financial Futures Association of Japan
ORGANIZATIONEngland & Wales
LOCATIONCapital Markets Services License
ORGANIZATIONthe Stock Exchange
ORGANIZATIONJPMSAL
ORGANIZATIONDubai Branch
ORGANIZATION
Mumbai
LOCATION