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2014 Overnight Neutral (buy) (hold) Underweight (sell) J.P. Morgan Global Equity Research Coverage 44% 44% 11% H3 clients• 38% 49% 40% JPMS Equity Research Coverage 45% 48% 7% H3 clients• 78% 67% 60% •Percentage of investment banking clients in each rating category. For purposes only of FINRAJNYSE rating

and is regulated by the Ministry of Finance and the Securities and Exchange Commission and its registered address is 3rd Floor, 20 North Salem Road. Silom. Bangrak, Bangkok 10500. Indonesia: PT J.P. Morgan Securities Indonesia is a member of the Indonesia Stock Exchange and is regulated by the OJK a.k.

, 2014 Overweight Neutral Underweight (buy) (hold) (sell) S. Morgan Global Equity Research Coverage 44% 44% 11% lB clients° 58% 49% 40% JPMS Equity Research Coverage 45% 48% 7% BEI clients° 78% 67% 60% ',Percentage of investment banking clients in each rating category. For purposes only of FINRANYSE ratin

nd is regulated by the Ministry of Finance and the Securities and Exchange Commission and its registered address is 3rd Floor. 20 North Sathom Road, Silom, Bangrak, Bangkok 10500. Indonesia: PT E. Morgan Securities Indonesia is a member of the Indonesia Stock Exchange and is regulated by the OJK a.k.a.

014 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 banking clients in each rating category. For purposes only of FINRAJNYSE rating

nd is regulated by the Ministry of Finance and the Securities and Exchange Commission and its registered address is 3rd Floor. 20 North Sathom Road, Silom, Bangrak, Bangkok 10500. Indonesia: PT J.P. Morgan Securities Indonesia is a member of the Indonesia Stock Exchange and is regulated by the OJK a.k.

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 investment banking clients in each rating category. For purposes only of FIN

nd is regulated by the Ministry of Finance and the Securities and Exchange Commission and its registered address is 3rd Floor. 20 North Sathom Road, Silom, Bangrak, Bangkok 10500. Indonesia: PT J.P. Morgan Securities Indonesia is a member of the Indonesia Stock Exchange and is regulated by the OJK a.k.

, 2015 Overweight Neutral Underweight (buy) (hold) (sell) M. Morgan Global Equity Research Coverage 45% 43% 12% IB clients* 52% 49% 35% JPMS Equity Research Coverage 45% 47% 8% IB clients* 69% 66% 54% *Percentage of investment banking clients in each rating category. For purposes only of FINKANYSE ratings

d is regulated by the Ministry of Finance and the Securities and Exchange Commission and its registered address is 3rd Floor. 20 North Sathorn Road. Silom, Bangrak. Bangkok 10500. Indonesia: PT 5. Morgan Securities Indonesia is a member of the Indonesia Stock Exchange and is regulated by the OJK a.k.a.

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 banking clients in each rating category. For purposes only of FINRA/NYSE rating

nd is regulated by the Ministry of Finance and the Securities and Exchange Commission and its registered address is 3rd Floor. 20 North Sathom Road, Silom, Bangrak, Bangkok 10500. Indonesia: PT J.P. Morgan Securities Indonesia is a member of the Indonesia Stock Exchange and is regulated by the OJK a.k.

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 banking clients in each rating category. For purposes only of FINRAJNYSE rating

nd is regulated by the Ministry of Finance and the Securities and Exchange Commission and its registered address is 3rd Floor. 20 North Sathom Road, Silom. Bangrak, Bangkok 10500. Indonesia: PT J.P. Morgan Securities Indonesia is a member of the Indonesia Stock Exchange and is regulated by the OJK a.k.