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the United Kingdom (UK) to professional clients and eligible counterparties (as each is defined in the rules of the FCA and the PRA) by MLI (UK) and Bank of America Merrill Lynch International Limited, which are authorized by the PRA and regulated by the FCA and the PRA, and is distributed in the UK to retail clients (as defined in the rules of the
Page: HOUSE_OVERSIGHT_010614 →re) (Company Registration Nos F 06872E and 198602883D respectively). MLIBLMB and Merrill Lynch (Singapore} are regulated by MAS. Bank of America N.A, Australian Branch (ARBN 064 874 531), AFS License 412901 (BANA Australia) and Merrill Lynch Equities (Australia) Limited (ABN 65 006 276 795), AFS License 23513
Page: HOUSE_OVERSIGHT_010614 →Investment Strategy
the United Kingdom (UK) to professional clients and eligible counterparties (as each is defined in the rules of the FCA and the PRA) by MLI (UK) and Bank of America Merrill Lynch International Limited, which are authorized by the PRA and regulated by the FCA and the PRA, and is distributed in the UK to retail clients (as defined in the rules of the
Page: HOUSE_OVERSIGHT_014457 →re) (Company Registration Nos F 06872E and 198602883D respectively). MLIBLMB and Merrill Lynch (Singapore} are regulated by MAS. Bank of America N.A, Australian Branch (ARBN 064 874 531), AFS License 412901 (BANA Australia) and Merrill Lynch Equities (Australia) Limited (ABN 65 006 276 795), AFS License 23513
Page: HOUSE_OVERSIGHT_014457 →the United Kingdom (UK) to professional clients and eligible counterparties (as each is defined in the rules of the FCA and the PRA) by MLI (UK) and Bank of America Merrill Lynch International Limited, which are authorized by the PRA and regulated by the FCA and the PRA, and is distributed in the UK to retail clients (as defined in the rules of the
Page: HOUSE_OVERSIGHT_014650 →re) (Company Registration Nos F 06872E and 198602883D respectively). MLIBLMB and Merrill Lynch (Singapore} are regulated by MAS. Bank of America N.A, Australian Branch (ARBN 064 874 531), AFS License 412901 (BANA Australia) and Merrill Lynch Equities (Australia) Limited (ABN 65 006 276 795), AFS License 23513
Page: HOUSE_OVERSIGHT_014650 →Estimate Change
for publication or distribution of this report in Brazil and its local distribution is by Merrill Lynch (Brazil) in accordance with applicab rules. Bank of America Merrill Lynch International Limited, Frankfurt Branch (BAMLI Frankfurt) distributes this report in Germany and is regulated by BaFin. iates in the US (short name: legal name, regulator
Page: HOUSE_OVERSIGHT_014885 →tribute, research reports of the following non-US affi PRA); Merrill Lynch (Australia): Merrill Lynch Equities (Australia) Limited, regulated by the Australi CV, Casa de Bolsa, regulated by the Comisién Nacional Bancaria y de Valores; Merrill Lynch (Argentina): Merrill Lynch Argentina SA, regulated by Com
Page: HOUSE_OVERSIGHT_014885 →Entities connected to both Bank of America Merrill Lynch International Limited and Australia

Donald Trump
PERSON
United States
LOCATION
George W. Bush
PERSON
United Kingdom
LOCATION
Bank of America
ORGANIZATIONthe Dubai Financial Services Authority
ORGANIZATION
Frankfurt
LOCATION
Merrill Lynch
ORGANIZATION
Michael Bloomberg
PERSON
Merrill Lynch Global Wealth Management
ORGANIZATION
Seoul
LOCATIONThe Financial Service Board
ORGANIZATIONMerchant Bank
ORGANIZATIONthe Australian Securities and Investments Commission
ORGANIZATIONMerrill Lynch International Bank Limited
ORGANIZATION
the Financial Services Agency
ORGANIZATIONMerrill Lynch Argentina SA
ORGANIZATIONMerrill Lynch Canada Inc
ORGANIZATIONMerrill Lynch KSA Company
ORGANIZATIONthe Securities and Futures Bureau
ORGANIZATION