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an Securities and Futures Bureau. India: E. Morgan India Private Limited, having its registered office at E. Morgan Tower, Oft C.S.T. Road, Kahn's, Santacruz East. Mumbai - 400098. is a member of the National Stock Exchange of India Limited (SERI Registration Number - INB 23067523 inNF 23067523 HINE 230675231)
sued to persons regarded as professional investors (or equivalent) in their home jurisdiction. Australia: This material is issued and distributed by JPMSAL in Australia to "wholesale clients' only. JPMSAL does not issue or distribute this material to "retail clients". The recipient of this material must
iwan Securities and Futures Bureau. India: M. Morgan India Private Limited, having its registered office at M. Morgan Tower. OM C.S.T. Road, Kalina, Santacruz East. Mumbai - 400098. is a member of the National Stock Exchange of India Limited (SEBI Registration Number - INB 230675231/INF 230675231/INE 230675231)
sued to persons regarded as professional investors (or equivalent) in their home jurisdiction. Australia: This material is issued and distributed by JPMSAL in Australia to "wholesale clients' only. JPMSAL does not issue or distribute this material to "retail clients". The recipient of this material must
Securities and Futures Bureau. India: J.P. Morgan India Private Limited. having its registered office at J.P. Morgan Tower, Ott C.S.T. Road. Kalina, Santacruz East, Mumbai - 400098, is a member of the National Stock Exchange of India Limited (SEBI Registration Number - INB 23067523I/INF 23067523 LANE 23067523))
sued to persons regarded as professional investors (or equivalent) in their home jurisdiction. Australia: This material is issued and distributed by JPMSAL in Australia to "wholesale clients" only. This material does not take into account the specific investment objectives, financial situation or partic
Securities and Futures Bureau. India: l.P. Morgan India Private Limited, having its registered office at J.P. Morgan Tower, Off C.S.T. Road, )(slim. Santacruz East, Mumbai -400098, is a member of the National Stock Exchange of India Limited (SEBI Registration Number - INB 230675231,'INF 23067523 I/ME 230675231)
sued to persons regarded as professional investors (or equivalent) in their home jurisdiction. Australia: This material is issued and distributed by JPMSAL in Australia to "wholesale clients' only. This material does not take into account the specific investment objectives, financial situation or partic
ecurities and Futures Bureau. India: J.P. Morgan India Private Limited, having its registered office at J.P. Morgan Tower, Off. C.S.T. Road, Kalina, Santacruz East, Mumbai - 400098. Is a member of the National Stock Exchange of India Limited (SEED Registration Number - INB 23067523 I /INF 230675231/INE 23067523
sued to persons regarded as professional investors (or equivalent) in their home jurisdiction. Australia: This material is issued and distributed by JPMSAL in Australia to "wholesale clients" only. JPMSAL does not issue or distribute this material to "retail clients". The recipient of this material must
ecurities and Futures Bureau. India: I.P. Morgan India Private Limited, having its registered office at J.P. Morgan Tower, Off. C.S.T. Road, Kalina, Santacruz East, Minitel - 400098, is a member of the National Stock Exchange of India Limited (SEW Registration Number • tNB 210675211/INF 23067523 PINE 230675231)
sued to persons regarded as professional investors (or equivalent) in their home jurisdiction. Australia: This material is issued and distributed by JPMSAL in Australia to "wholesale clients" only. JPMSAL does not issue or distribute this material to "retail clients". The recipient of this material must
Taiwan Securities and Futures Bureau. India: Morgan India Private Limited, having its registered office at Morgan Tower, Oft. C.S.T. Road, Kalina, Santacruz East. Mumbai 400098, is a member of the National Stock Exchange of India Limited (SEBI Registration Number - INB 230675231/INF 230675231/INE 230675231) a
obal Asset Allocation The a Morgan View 04 January 2013 J.P.Morgan their home jurisdiction. Australia: This material is issued and distributed by JPMSAL in Australia to "wholesale clients' only. JPMSAL does not issue or distribute this material to "retail clients". Thc recipient of this material must
Securities and Futures Bureau. India: J.P. Morgan India Private Limited. having its registered office at J.P. Morgan Tower. Oft C.S.T. Road, Kalina, Santacruz East, Mumbai -400098, is a member of the National Stock Exchange of India Limited (SEBI Registration Number - INB 23067523I/INF 23067523 LANE 230675231)
sued to persons regarded as professional investors (or equivalent) in their home jurisdiction. Australia: This material is issued and distributed by JPMSAL in Australia to "wholesale clients" only. This material does not take into account the specific investment objectives, financial situation or partic
Entities connected to both Santacruz East and JPMSAL

Philippines
LOCATION
Malaysia
LOCATION
the Ministry of Finance
ORGANIZATIONthe Central Bank of Brazil
ORGANIZATIONthe Philippine Stock Exchange
ORGANIZATIONthe Indonesia Stock Exchange
ORGANIZATIONthe Stock Exchange of Thailand
ORGANIZATIONthe Securities and Futures Commission
ORGANIZATIONBombay Stock Exchange Limited
ORGANIZATIONthe Taiwan Securities and Futures Bureau
ORGANIZATIONthe Mexican Stock Exchange
ORGANIZATION
JPMorgan Chase
ORGANIZATION
New Zealand
LOCATIONEngland & Wales
LOCATIONKanto Local Finance Bureau
ORGANIZATIONDubai Branch
ORGANIZATIONthe Karachi Stock Exchange
ORGANIZATIONthe Stock Exchange
ORGANIZATIONthe Hong Kong
LOCATIONCapital Markets Services License
ORGANIZATION