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at current levels. The fundamental bull case for Health rests on the strong pipeline of new products for
y Service; Merrill Lynch (Taiwan): Merrill Lynch Securities (Taiwan) Ltd., regulated by the Securities and Futures Bureau; DSP Merrill Lynch (India): DSP Merrill Lynch Limited, regulated by the Securities and Exchange Board of India; PT Merrill Lynch (Indonesia): PT Merrill Lynch Indonesia, regulated by Otoritas Jasa Keuang
Page: HOUSE_OVERSIGHT_014457 →at current levels. The fundamental bull case for Health rests on the strong pipeline of new products for
y Service; Merrill Lynch (Taiwan): Merrill Lynch Securities (Taiwan) Ltd., regulated by the Securities and Futures Bureau; DSP Merrill Lynch (India): DSP Merrill Lynch Limited, regulated by the Securities and Exchange Board of India; PT Merrill Lynch (Indonesia): PT Merrill Lynch Indonesia, regulated by Otoritas Jasa Keuang
Page: HOUSE_OVERSIGHT_014496 →ncrease penetration of higher margin offerings 48 Health: Not Tremendously Prescriptive 51 Vision 2030 a s
y Service; Merrill Lynch (Taiwan): Merrill Lynch Securities (Taiwan) Ltd., regulated by the Securities and Futures Bureau; DSP Merrill Lynch (India): DSP Merrill Lynch Limited, regulated by the Securities and Exchange Board of India; PT Merrill Lynch (Indonesia): PT Merrill Lynch Indonesia, regulated by Otoritas Jasa Keuang
Page: HOUSE_OVERSIGHT_016194 →Quantitative Analysis
ervices 1,720 Tax credit for orphan drug research Health 100 Exclusion & deferral of policyholder income e
y Service; Merrill Lynch (Taiwan): Merrill Lynch Securities (Taiwan) Ltd., regulated by the Securities and Futures Bureau; DSP Merrill Lynch (India): DSP Merrill Lynch Limited, regulated by the Securities and Exchange Board of India; PT Merrill Lynch (Indonesia): PT Merrill Lynch Indonesia, regulated by Otoritas Jasa Keuang
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]
Merrill Lynch )}: Merrill Lynch International Incorporated (Seoul Branch} regulated by the ecurities and Futures Bureau; DSP Merrill Lynch (India): DSP Merrill Lynch Limited, ndonesia, regulated by Otoritas Jasa Keuangan (OJK); Merrill Lynch (Israel): Merrill es, Moscow, regulated by the Central Bank of the Russian Federa
Page: HOUSE_OVERSIGHT_023609 →Entities connected to both DSP Merrill Lynch Limited and HealthCap

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