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CB Singapore in respect of any matters arising from, or in connection with, the document. Japan: JPMorgan Securities Japan Co.. Ltd. is regulated by the Financial Services Agency in Japan. Malaysia: This material is issued and distributed in Malaysia by 1PMorgan Securities (Malaysia) Sdn Bhd ( I 8146-X) which is a Participati
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
CB Singapore in respect of any matters arising from, or in connection with, the document. Japan: JPMorgan Securities Japan Co., Ltd. is regulated by the Financial Services Agency in Japan. Malaysia: This material is issued and distributed in Malaysia by JPMorgan Securities (Malaysia) Sdn Bhd (18146-X) which is a Participating
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
B Singapore in respect of any matters arising front, or in connection with, the document. Japan: JPMorgan Securities Japan Co., Ltd. is regulated by the Financial Services Agency in Japan. Malaysia: This material is issued and distributed in Malaysia by JPMorgan Securities (Malaysia) Sdn Bhd (18146-X) which is a Participating
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
Entities connected to both the Financial Services Agency and J.P. Morgan Securities

JPMorgan Chase
ORGANIZATION
Frankfurt
LOCATIONthe Capital Market Authority
ORGANIZATIONthe Prudential Regulation Authority
ORGANIZATION
Bloomberg L.P.
ORGANIZATION
United Kingdom
LOCATION
Malaysia
LOCATION
Philippines
LOCATION
the Ministry of Finance
ORGANIZATIONthe Central Bank of Brazil
ORGANIZATION
New Zealand
LOCATIONthe Securities and Futures Commission
ORGANIZATIONthe Stock Exchange of Thailand
ORGANIZATIONthe Philippine Stock Exchange
ORGANIZATIONEngland & Wales
LOCATIONthe Financial Services Board
ORGANIZATIONJapan Investment Advisers Association
ORGANIZATIONthe Indonesia Stock Exchange
ORGANIZATIONThe Financial Futures Association of Japan
ORGANIZATIONthe Mexican Stock Exchange
ORGANIZATION