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Investment Strategy
he express written consent of BofA Merrill Lynch. BofA Merril sed on public i | Lynch, including investment ba
HKSFC); Merrill Lynch (Singapore): Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS); Merrill Lynch (Canada): Merrill Lynch Canada Inc, regulated by the Investment Industry Regulatory Organization of Canada; Merrill Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regul
Page: HOUSE_OVERSIGHT_014408 →errill Lynch Equities (Australia) Limited, regulated by the Australian Securities and Investments Commissio Futures Commission (HKSFQ; Merri Canada): Merrill Lynch Canada Inc, regulated by the Inves ria y de Valores; Merrill Lynch Services Agency: Lynch Securities (Taiwan) Ltd, regu errill Lynch (Indonesia): PT hority (F
Page: HOUSE_OVERSIGHT_014422 →: The protections provided by the U.K. regulatory regime, including the Financial Services Scheme, do not apply in general to business coordinated by BofA Merrill h policies relating to conflicts of interest are described at http://go.bofa.com/coi. ments linked to securities that may have been recommended in th
Page: HOUSE_OVERSIGHT_014423 →HKSFC); Merrill Lynch (Singapore): Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS); Merrill Lynch (Canada): Merrill Lynch Canada Inc, regulated by the Investment Industry Regulatory Organization of Canada; Merrill Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regul
Page: HOUSE_OVERSIGHT_014429 →in jo security, finance! by the U.K. regulatory regime, including the Financial Services Scheme, do not apply in general to business coordinated by BofA Merrill are described at http://go.bofa.com/coi. ments linked to securities that may have been recommended in this report. MLPF&S or one of its instruments
Page: HOUSE_OVERSIGHT_014430 →Investment Strategy
HKSFC); Merrill Lynch (Singapore): Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS): Merrill Lynch (Canada): Merrill Lynch Canada Inc, regulated by the Investment Industry Regulatory Organization of Canada; Merrill Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regul
Page: HOUSE_OVERSIGHT_014457 →rch personnel are based on information known to, professionals in other business areas of BofA Merrill Lynch, including investment banking personnel. BofA Merrill Research and certain business groups. As a resul research reports. To the extent this report discusses any legal proceeding or issue , BofA her off
Page: HOUSE_OVERSIGHT_014458 →HKSFC); Merrill Lynch (Singapore): Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS); Merrill Lynch (Canada): Merrill Lynch Canada Inc, regulated by the Investment Industry Regulatory Organization of Canada; Merrill Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regul
Page: HOUSE_OVERSIGHT_014650 →t of In the event therewith quity securities o he implementation rt. °o uding ADRs, effectively assume currency risk. de of the United Kingdom. BofA Merrill h h @ persons who prepared them, and Bo is report. LPF&S may be deemed beyond the delivery of this report (unless otherwise agreed 5| transactio
Page: HOUSE_OVERSIGHT_014651 →Estimate Change
mmission (HKSFQ); Merrill Lynch (Singapore): Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Au Singapore (MAS); Merrill Lynch (Canada): Merrill Lynch Canada Inc, regulated by the Investment Industry Regulatory Organization of Canada; Merrill Lynch (Mexico): Merrill Lyn regulated by the Securities and Exchang
Page: HOUSE_OVERSIGHT_014885 →errill Lynch Global Research and certain busin research reports. To the extent this report discusses ou oO professionals in other business areas of BofA Merrill 5 report containing such rating, recommendation or in Any information relating to the tax status of financia seek tax advice based on their particul
Page: HOUSE_OVERSIGHT_014886 →(HKMA); Merrill Lynch (Singapore): Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS); Merrill Lynch (Canada): Merrill Lynch Canada Inc, regulated by the Investment Industry Regulatory Organization of Canada; errill Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regul
Page: HOUSE_OVERSIGHT_026002 →ons, conclusion, or information con an authorized officer of BofA Merrill Lynch. ed in this material | Lynch, including investment banking personnel. BofA Merrill jons that are inconsistent rames, assumptions, views and analytical ‘0 the attention of any and in connection ly and does not extend with the execu
Page: HOUSE_OVERSIGHT_026003 →Entities connected to both Merrill Lynch Canada Inc and BofA Merrill

Merrill Lynch
ORGANIZATION
Bank of America
ORGANIZATION
Donald Trump
PERSON
United Kingdom
LOCATIONMerchant Bank
ORGANIZATIONMerrill Lynch International Bank Limited
ORGANIZATIONPierce, Fenner & Smith Incorporated
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATIONThe Financial Service Board
ORGANIZATION
Michael Bloomberg
PERSONthe Central Bank of Ireland
ORGANIZATION
Frankfurt
LOCATIONthe Investment Industry Regulatory Organization of Canada
ORGANIZATION
BofA Merrill Lynch
ORGANIZATIONBaFin
ORGANIZATION
BANA Australia
ORGANIZATION
Seoul
LOCATION
Bank of America Corporation
ORGANIZATIONMerrill Lynch International Incorporated
ORGANIZATION
the Financial Services Agency
ORGANIZATION