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at current levels. The fundamental bull case for Health rests on the strong pipeline of new products for
): 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; Merrill Lynch (Seoul): Merrill Lynch International Incorporated (Seoul Branch) regulated by the Financial Supervisory Service; Merrill Lynch (Taiwan
Page: HOUSE_OVERSIGHT_014457 →at current levels. The fundamental bull case for Health rests on the strong pipeline of new products for
): 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; Merrill Lynch (Seoul): Merrill Lynch International Incorporated (Seoul Branch) regulated by the Financial Supervisory Service; Merrill Lynch (Taiwan
Page: HOUSE_OVERSIGHT_014496 →ncrease penetration of higher margin offerings 48 Health: Not Tremendously Prescriptive 51 Vision 2030 a s
: Merrill Lynch Argentina SA, regulated by Comision Nacional de Valores; Merrill Lynch (japan): Merrill Lynch Japan Securities Co. Ltd., regulated by the Financial Services Agency; Merrill Lynch (Seoul): Merrill Lynch International Incorporated (Seoul Branch) regulated by the Financial Supervisory Service; Merrill Lynch (Taiwan
Page: HOUSE_OVERSIGHT_016194 →Quantitative Analysis
ervices 1,720 Tax credit for orphan drug research Health 100 Exclusion & deferral of policyholder income e
: 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; Merrill Lynch (Seoul): Merrill Lynch International Incorporated (Seoul Branch) regulated by the Financial Supervisory Service; Merrill Lynch (Taiwan
Page: HOUSE_OVERSIGHT_023094 →Entities connected to both the Financial Services Agency and HealthCap

Frankfurt
LOCATIONthe Prudential Regulation Authority
ORGANIZATION
Michael Bloomberg
PERSON
United Kingdom
LOCATIONthe Capital Market Authority
ORGANIZATION
Donald Trump
PERSON
Seoul
LOCATION
Bank of America
ORGANIZATIONMerchant Bank
ORGANIZATION
Merrill Lynch
ORGANIZATIONThe Financial Service Board
ORGANIZATIONthe Securities and Futures Bureau
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATIONBank of America Merrill Lynch International Limited
ORGANIZATIONMerrill Lynch International Bank Limited
ORGANIZATIONMerrill Lynch Canada Inc
ORGANIZATIONthe Investment Industry Regulatory Organization of Canada
ORGANIZATIONthe Financial Supervisory Service
ORGANIZATIONMerrill Lynch Argentina SA
ORGANIZATIONthe Dubai Financial Services Authority
ORGANIZATION