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at current levels. The fundamental bull case for Health rests on the strong pipeline of new products for
l Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regulated by the Comision Nacional Bancaria y de Valores; Merrill Lynch (Argentina): Merrill Lynch Argentina SA, regulated by Comisién Nacional de Valores; Merrill Lynch japan): Merrill Lynch Japan Securities Co, Ltd., regulated by the Financial Services Agency
Page: HOUSE_OVERSIGHT_014457 →at current levels. The fundamental bull case for Health rests on the strong pipeline of new products for
l Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regulated by the Comisidn Nacional Bancaria y de Valores; Merrill Lynch (Argentina): Merrill Lynch Argentina SA, regulated by Comisién Nacional de Valores; Merrill Lynch japan): Merrill Lynch Japan Securities Co, Ltd., regulated by the Financial Services Agency
Page: HOUSE_OVERSIGHT_014496 →ncrease penetration of higher margin offerings 48 Health: Not Tremendously Prescriptive 51 Vision 2030 a s
l Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regulated by the Comision Nacional Bancaria y de Valores; Merrill Lynch (Argentina): Merrill Lynch Argentina SA, regulated by Comision Nacional de Valores; Merrill Lynch (japan): Merrill Lynch Japan Securities Co. Ltd., regulated by the Financial Services Agenc
Page: HOUSE_OVERSIGHT_016194 →Quantitative Analysis
ervices 1,720 Tax credit for orphan drug research Health 100 Exclusion & deferral of policyholder income e
l Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regulated by the Comisidn Nacional Bancaria y de Valores; Merrill Lynch (Argentina): Merrill Lynch Argentina SA, regulated by Comisién Nacional de Valores; Merrill Lynch japan): Merrill Lynch Japan Securities Co., Ltd., regulated by the Financial Services Agenc
Page: HOUSE_OVERSIGHT_023094 →3% -] 2% 74 3.1% = 2% 3.2 -0.4% 0 54% 0.9% SXDP (Health) 3.1% -0.6% 2% 86% 0.9% -/ 2% 115 24% -14 2% 4]
Singapore) Pte Ltd, regulated by the Monetary Authority of try Regulatory Organization of Canada; Merrill Lynch (Mexico): Merrill Lynch Mexico, SA de Merrill Lynch Argentina SA, regulated by Comisién Nacional de Valores; Merrill Lynch )}: Merrill Lynch International Incorporated (Seoul Branch} regulated by the ecurities and
Page: HOUSE_OVERSIGHT_023609 →Entities connected to both Merrill Lynch Argentina SA and HealthCap

Donald Trump
PERSON
United Kingdom
LOCATION
Michael Bloomberg
PERSON
Bank of America
ORGANIZATION
Merrill Lynch
ORGANIZATIONthe Securities and Futures Bureau
ORGANIZATIONMerchant Bank
ORGANIZATIONThe Financial Service Board
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATIONMerrill Lynch KSA Company
ORGANIZATION
Seoul
LOCATION
Frankfurt
LOCATIONDSP Merrill Lynch Limited
ORGANIZATIONMerrill Lynch (Asia Pacific) Limited
ORGANIZATIONthe Central Bank of Ireland
ORGANIZATIONthe Financial Supervisory Service
ORGANIZATIONMerrill Lynch International Incorporated
ORGANIZATIONPierce, Fenner & Smith Incorporated
ORGANIZATIONMerrill Lynch Canada Inc
ORGANIZATION
the Financial Services Agency
ORGANIZATION