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nco J.P. Morgan S.A. is regulated by the Comissao de Valorcs Mobiliarios (CVM) and by the Central Bank of Brazil. Mexico: J.P. Morgan Casa dc Bolsa, S.A. de C.V., J.P. Morgan Grupo Financiero is a member of the Mexican Stock Exchange and authorized to act as a broker dealer by the National Banking and Securit
ity Properties (RHP) J.P. Morgan Equity Research Ratings Distribution, as of March 31, 2014 Overweight Neutral Underweight (buy) (hold) (sell) J.P. Morgan Global Equity Research Coverage 44% 44% I I% IB clients* 58% 49% 40% JPMS Equity Research Coverage 45% 48% 7% IB clients* 78% 67% 60% *Percentage of investment banki
nco J.P. Morgan S.A. is regulated by the Comissao de Valores Mobiliarios (CVM) and by the Central Bank of Brazil. Mexico: J.P. Morgan Casa dc Bolsa, S.A. de C.V., J.P. Morgan (irupo Financicro is a member of the Mexican Stock Exchange and authorized to act as a broker dealer by the National Banking and Securi
search 18 June 2014 J.P. Morgan Equity Research Ratings Distribution, as of March 31, 2014 Overweight Neutral (buy) (hold) Underweight (sell) J.P. Morgan Global Equity Research Coverage 44% 44% 11% IB clients° 58% 49% 40% JPMS Equity Research Coverage 45% 48% 7% IB clients° 78% 679/. 60% J.P.Morgan *Percentage of inv
co J.P. Morgan S.A. is regulated by the Comissao de Valores Mobiliarios (CVNI) and by the Central Bank of Brazil. Mexico: J.P. Morgan Casa de Boise. S.A. de C.V., l.P. Morgan Grupo Financiero is a member of the Mexican Stock Exchange and authorized to act as a broker dealer by the National Banking and Securit
www.morganmarkets.com. J.P. Morgan Equity Research Ratings Distribution, as of April 3.2012 Overnight Neutral Underweight (buy) (hold) (sell) J.P. Morgan Global Equity Research Coverage 45% 43% 12% IB clients* 51% 45% 34% JPMS Equity Research Coverage 43% 48% 9% 1B clients° 70% 61% 53% °Percentage of investment bankin
Banco J.P. Morgan S.A. is regulated by the Comissao de Valorcs Mobiliarios (CVM) and by the Central Bank of Brazil. Mexico: J.P. Morgan Cm de Boise, S.A. de C.V., J.P. Morgan ( irurx, Financicro is a member of the Mexican Stock Exchange and authorized to act as a broker dealer by the National Banking and Secu
oldings, Inc. (WAIR) J.P. Morgan Equity Research Ratings Distribution, as of March 31, 2014 Overweight Neutral Underweight (buy) (hold) (sell) J.P. Morgan Global Equity Research Coverage 44% 44% 11% IB clients° 58% 49% 40% JPMS Equity Research Coverage 45% 48% 7% IB clients° 78% 67% 60% *Percentage of investment bankin
nco J.P. Morgan S.A. is regulated by the Comissao de Valorcs Mobiliarios (CVM) and by the Central Bank of Brazil. Mexico: J.P. Morgan Casa dc Boise, S.A. de C.V., l.P. Morgan (irupo Financicro is a member of the Mexican Stock Exchange and authorized to act as a broker dealer by the National Banking and Securi
ity Properties (RHP) J.P. Morgan Equity Research Ratings Distribution, as of March 31, 2014 Overweight Neutral Underweight (buy) (hold) (sell) J.P. Morgan Global Equity Research Coverage 44% 44% 11% IB clients* 58% 49% 40% JPMS Equity Research Coverage 45% 48% 7% IB clients° 78% 67% 60% *Percentage of investment bankin
Entities connected to both S.A. de C.V. and J.P. Morgan Global Equity Research Coverage

JPMorgan Chase
ORGANIZATION
New Zealand
LOCATION
Malaysia
LOCATION
Mumbai
LOCATION
Philippines
LOCATIONthe Mexican Stock Exchange
ORGANIZATIONthe Indonesia Stock Exchange
ORGANIZATIONthe Securities and Futures Commission
ORGANIZATION
Frankfurt
LOCATION
the Ministry of Finance
ORGANIZATIONBombay Stock Exchange Limited
ORGANIZATIONthe Taiwan Securities and Futures Bureau
ORGANIZATIONThe Financial Futures Association of Japan
ORGANIZATIONthe Philippine Stock Exchange
ORGANIZATIONthe Stock Exchange of Thailand
ORGANIZATIONthe Central Bank of Brazil
ORGANIZATIONEngland & Wales
LOCATIONthe Korea Financial Supervisory Service
ORGANIZATIONKanto Local Finance Bureau
ORGANIZATIONCapital Markets Services License
ORGANIZATION