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es South Africa Proprietary Limited is a member of the Johannesburg Securities Exchange and is regulated by the Financial Services Board. Hong Kong: J.P. Morgan Securities (Asia Pacific) Limited (CE number AAJ321) is regulated 7 EFTA00300343 Geoff Meacham North America Equity Research 22 May 2014 J.P.Morgan by t
is regulated by ASIC and I.P. 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 CHI-X. Taiwan: J.P.Morgan Securities (Taiwan) Limited is a participant of the Taiwan Stock Exchange (company-type) and regulated
es South Africa Proprietary Limited is a member of the Johannesburg Securities Exchange and is regulated by the Financial Services Board. Hong Kong: J.P. Morgan Securities (Asia Pacific) Limited (CE number AAJ32 I ) is regulated by the Hong Kong Monetary Authority and the Securities and Futures Commission in Hong Kong
is regulated by ASIC and J.P. 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 CHI-X. Taiwan: J.P.Morgan Securities (Taiwan) Limited is a participant of the Taiwan Stock Exchange (company-type) and regulated
es South Africa Proprietary Limited is a member of the Johannesburg Securities Exchange and is regulated by the Financial Services Board. Hong Kong: J.P. Morgan Securities (Asia Pacific) Limited (CE number AAJ32 I ) is regulated by the Hong Kong Monetary Authority and the Securities and Futures Commission in Hong Kong
is regulated by ASIC and J.P. 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 CHI-X. Taiwan: J.P.Morgan Securities (Taiwan) Limited is a participant of the Taiwan Stock Exchange (company-type) and regulated
Entities connected to both J.P. Morgan Securities and Market, Clearing and Settlement Participant

JPMorgan Chase
ORGANIZATION
Bloomberg L.P.
ORGANIZATIONthe Philippine Stock Exchange
ORGANIZATION
Malaysia
LOCATIONEngland & Wales
LOCATION
Philippines
LOCATIONThe Financial Futures Association of Japan
ORGANIZATIONJapan Investment Advisers Association
ORGANIZATION
New Zealand
LOCATIONthe Stock Exchange
ORGANIZATIONJPMSAL
ORGANIZATIONthe Capital Market Authority
ORGANIZATIONthe Central Bank of Brazil
ORGANIZATION
the Ministry of Finance
ORGANIZATIONDubai Branch
ORGANIZATIONthe Karachi Stock Exchange
ORGANIZATION
Frankfurt
LOCATIONCapital Markets Services License
ORGANIZATIONthe Indonesia Stock Exchange
ORGANIZATIONthe Securities and Futures Commission
ORGANIZATION