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ission in Hong Kong. Korea: J.P. Morgan Securities (Far East) Ltd. Seoul Branch, is regulated by the Korea Financial Supervisory Service. Australia: J.P. Morgan Australia Limited (JPMAL) (ABN 52 002 888 01 I/AFS Licence No: 3 EFTA00301314 North America Equity Research 13 May 2014 J.P.Morgan 238188) is regulated by ASIC
f Capital Markets Services License issued by the Securities Commission in Malaysia. Pakistan:1. P. Morgan Pakistan Broking (Pvt.) Ltd is a member of the Karachi Stock Exchange and regulated by the Securities and Exchange Commission of Pakistan. Saudi Arabia: J.P. Morgan Saudi Arabia Ltd. is authorized by the Capital Market
ission in Hong Kong. Korea: J.P. Morgan Securities (Far East) Ltd. Seoul Branch. is regulated by the Korea Financial Supervisory Service. Australia: J.P. Morgan Australia Limited (JPMAL) (ABN 52 002 888 01 I1AFS Licence No: 238188) is regulated by ASIC and J.P. Morgan Securities Australia Limited (JPMSAL) (ABN 61 003 245 234/
Capital Markets Services License issued by the Securities Commission in Malaysia. Pakistan: J. P. Morgan Pakistan Braking (Pvt.) Ltd is a member of the Karachi Stock Exchange and regulated by the Securities and Exchange Commission of Pakistan. Saudi Arabia: J.P. Morgan Saudi Arabia 17 EFTA00301333 North America Equity
ission in Hong Kong. Korea: J.P. Morgan Securities (Far East) Ltd, Seoul Branch, is regulated by the Korea Financial Supervisory Service. Australia: J.P. Morgan Australia Limited (JPMAL) (ABN 52 002 888 01 I/AFS Licence No: 238188) is regulated by ASIC and J.P. Morgan Securities Australia Limited (JPMSAL) (ABN 61 003 245 234/
Capital Markets Services License issued by the Securities Commission in Malaysia. Pakistan:.I. P. Morgan Pakistan Broking (Pvt.) Ltd is a member of the Karachi Stock Exchange and regulated by the Securities and Exchange Commission of Pakistan. Saudi Arabia: J.P. Morgan Saudi Arabia Ltd. is authorized by the Capital Market
ission in Hong Kong. Korea: J.P. Morgan Securities (Far East) Ltd. Seoul Branch. is regulated by the Korea Financial Supervisory Service. Australia: J.P. Morgan Australia Limited (JPMAL) (ABN 52 002 888 011fAFS Licence No: 238188) is regulated by ASIC and J.P. Morgan Securities Australia Limited IJPMSAL) (ABN 61 003 245 234/A
Capital Markets Services License issued by the Securities Commission in Malaysia. Pakistan: J. P. Morgan Pakistan Stoking (Psi.) Ltd is a member of the Karachi Stock Exchange and regulated by the Securities and Exchange Commission of Pakistan. Saudi Arabia: J.P. Morgan Saudi Arabia Ltd. is authorized by the Capital Market
ission in Hong Kong. Korea: J.P. Morgan Securities (Far East) Ltd, Seoul Branch. is regulated by the Korea Financial Supervisory Service. Australia: J.P. Morgan Australia Limited (.1PMAL) (ABN 52 002 888 01 I/AFS Licence No: 238188) is regulated by ASIC and J.P. Morgan Securities Australia Limited (JPMSAL) (ABN 61 003 245 234
Capital Markets Services License issued by the Securities Commission in Malaysia. Pakistan: J. P. Morgan Pakistan Braking (Pvt.) Ltd is a member of the Karachi Stock Exchange and regulated by the Securities and Exchange Commission of Pakistan. Saudi Arabia: J.P. Morgan Saudi Arabia Ltd. is authorized by the Capital Market
ission in Hong Kong. Korea: J.P. Morgan Securities (Far East) Ltd, Seoul Branch. is regulated by the Korea Financial Supervisory Service. Australia: J.P. Morgan Australia Limited (JPMAL) (ABN 52 002 888 01 I/AFS Licence No: 238188) is regulated by ASIC and J.P. Morgan Securities Australia Limited (JPMSAL) (ABN 61 003 245 234/
Capital Markets Services License issued by the Securities Commission in Malaysia. Pakistan: J. P. Morgan Pakistan Broking (Pvt.) Ltd is a member of the Karachi Stock Exchange and regulated by the Securities and Exchange Commission of Pakistan. Saudi Arabia: J.P. Morgan Saudi Arabia Ltd. is authorized by the Capital Market
Entities connected to both J.P. Morgan Australia Limited and the Karachi Stock Exchange

Philippines
LOCATION
New Zealand
LOCATIONthe Central Bank of Brazil
ORGANIZATIONBombay Stock Exchange Limited
ORGANIZATIONthe Taiwan Securities and Futures Bureau
ORGANIZATIONthe Mexican Stock Exchange
ORGANIZATION
the Ministry of Finance
ORGANIZATIONthe Indonesia Stock Exchange
ORGANIZATION
JPMorgan Chase
ORGANIZATIONthe Philippine Stock Exchange
ORGANIZATIONthe Stock Exchange of Thailand
ORGANIZATIONEngland & Wales
LOCATIONthe Securities and Futures Commission
ORGANIZATION
Malaysia
LOCATIONJPMSAL
ORGANIZATIONthe Hong Kong
LOCATIONDubai Branch
ORGANIZATIONCapital Markets Services License
ORGANIZATIONThe Financial Futures Association of Japan
ORGANIZATIONthe Stock Exchange
ORGANIZATION