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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
gent, arranging, advising and custody, with respect to securities business under licence number 35-07079 and its registered address is at 8th Floor. Al-Faisaliyah Tower, King Fahad Road. P.O. Box 51907, Riyadh 11553, Kingdom of Saudi Arabia. Dubai: M./organ Chase Bank. N.A., Dubai Branch is regulated by the Dubai Fi
Pacific) Limited (CE number AAJ321) is regulated by the Hong Kong Monetary Authority and the Securities and Futures Commission 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 (ABN 52 002 888 011/
gent, arranging• advising and custody, with respect to securities business under licence number 35-07079 and its registered address is at 8th Floor. Al-Faisaliyah Tower. King Fahad Road. P.O. Box 51907. Riyadh 11553. Kingdom of Saudi Arabia. Dubai: JPMorgan Chase Bank. N.A., Dubai Branch is regulated by the Dubai Fi
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
gent. arranging. advising and custody, with respect to securities business under licence number 35-07079 and its registered address is at 8th Floor. Al-Faisaliyah Tower. King Fahad Road. P.O. Box 51907, Riyadh 11553, Kingdom of Saudi Arabia. Dubai: JPMorgan Chase Bank, N.A., Dubai Branch is regulated by the Dubai Fi
Entities connected to both J.P. Morgan Securities and Al-Faisaliyah Tower

JPMorgan Chase
ORGANIZATION
Bloomberg L.P.
ORGANIZATIONthe Securities and Futures Commission
ORGANIZATIONEngland & Wales
LOCATIONJPMSAL
ORGANIZATIONDubai Branch
ORGANIZATIONthe Indonesia Stock Exchange
ORGANIZATIONthe Korea Financial Supervisory Service
ORGANIZATIONthe Karachi Stock Exchange
ORGANIZATIONthe Mexican Stock Exchange
ORGANIZATIONthe Taiwan Securities and Futures Bureau
ORGANIZATIONBombay Stock Exchange Limited
ORGANIZATIONthe Stock Exchange of Thailand
ORGANIZATIONthe Philippine Stock Exchange
ORGANIZATIONCapital Markets Services License
ORGANIZATIONSecurities and Exchange Board of India
ORGANIZATIONKanto Local Finance Bureau
ORGANIZATIONThe Financial Futures Association of Japan
ORGANIZATIONHong Kong Limited
LOCATION
Malaysia
LOCATION