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foreign affiliates. Hong Kong recipients of this research report should contact Merri ies (and not futures contracts) or provision of speci d contact Merrill Lynch International Bank Limited (Merchant Bank} and/or Merrill Lynch (S ic advice on securities (and Lynch (Taiwan); is A 883D respectively errill Lynch Equi ance with respec i
Page: HOUSE_OVERSIGHT_014422 →I Lynch siness fect any transaction in any | Lynch (Asia Pacific) Limited in pore recipients of this research her financial instrument. No part of Insurance Corporation and are not volve numerous risks, including, ‘0 obtain. Investors should note that and, in some cases, investors may Bankof America Merrill Lynch
Page: HOUSE_OVERSIGHT_014422 →d 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 FCA and the PRA) by Merrill Lynch International Bank Limited, London Branch, which is authorized by the Central Bank of Ireland and subject to imited regulation by the FCA and PRA - details about the extent of
Page: HOUSE_OVERSIGHT_010614 →ticular, in risks related to the security or financial instrument may be difficult person. Investors should seek this report and should understand Insurance Corporation and are not volve numerous risks, including, ‘0 obtain. Investors should note that hat price or value of such securities and instruments may rise o
Page: HOUSE_OVERSIGHT_010615 →Price Objective Change
(UK) and Bank of America Merrill Lynch International Limited, which are authorized retail clients (as defined in the rules of the FCA and the PRA) by Merrill Lynch International Bank Limited, London imited regulation by the FCA and PRA - details about the extent of our regulation by the FCA and PRA are availab Lynch (Japan), a registered
Page: HOUSE_OVERSIGHT_014394 →his report and should understand fering must be based solely on existing public information on such ion with such offering, and not on this report. Insurance Corporation and are not volve numerous risks, including, es, securities and other financial ‘0 obtain. Investors should note that and, in some cases, investors m
Page: HOUSE_OVERSIGHT_014395 →Investment Strategy
d 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 FCA and the PRA) by Merrill Lynch International Bank Limited, London Branch, which is authorized by the Central Bank of Ireland and subject to imited regulation by the FCA and PRA - details about the extent of
Page: HOUSE_OVERSIGHT_014408 →his report and should understand fering must be based solely on existing public information on such ion with such offering, and not on this report. Insurance Corporation and are not volve numerous risks, including, jes and other financial nvestors should note that and, in some cases, investors may is anticipated t
Page: HOUSE_OVERSIGHT_014409 →d 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 FCA and the PRA) by Merrill Lynch International Bank Limited, London Branch, which is authorized by the Central Bank of Ireland and subject to imited regulation by the FCA and PRA - details about the extent of
Page: HOUSE_OVERSIGHT_014429 →on contained in this report (including any in her financial instrument. No part of person. Investors should seek this report and should understand Insurance Corporation and are not volve numerous risks, including, instrument or derivative is suitable for all investors. In some cases, securities and other financial y
Page: HOUSE_OVERSIGHT_014430 →Investment Strategy
rs should seek on existing public information on such Insurance Corporation and are not ases, securities and other financial
d 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 FCA and the PRA) by Merrill Lynch International Bank Limited, London Branch, which is authorized by the Central Bank of Ireland and subject to imited regulation by the FCA and PRA - details about the extent of
Page: HOUSE_OVERSIGHT_014457 →be based solely on existing public information on such Insurance Corporation and are not volve numerous risks, including, oth
d 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 FCA and the PRA) by Merrill Lynch International Bank Limited, London Branch, which is authorized by the Central Bank of Ireland and subject to imited regulation by the FCA and PRA - details about the extent of
Page: HOUSE_OVERSIGHT_014650 →ios; Merrill Lynch KSA Company, h (Singapore): Merril erril y the Securities and y. ) ingdom (UK ional Limited, which are authorized the PRA) by Merrill Lynch International Bank Limited, London s about the extent of our regulation by nder the Financial Instruments and Excl ion in relation to, or advice on, fu 0, or use by, any person
Page: HOUSE_OVERSIGHT_014729 →ticular, in risks related to the security or financial instrument may be difficult person. Investors should seek this report and should understand Insurance Corporation and are not volve numerous risks, including, ‘0 obtain. Investors should note that hat price or value of such securities and instruments may rise o
Page: HOUSE_OVERSIGHT_014730 →ealing in securities (and not futures contracts) or provision of specific advice on securities (and not futures contracts). Si report should contact Merrill Lynch International Bank Limited (Merchant Bank) and/or research report. General Investment Related Disclosures: Taiwan Readers: Neither the information nor any opinion expressed he
Page: HOUSE_OVERSIGHT_014785 →nt may be difficult hat price or value of such securities and instruments may rise or fal ure performance. Levels and basis for taxation may change. Insurance Corporation and are not merica, N.A.}. Investments in general and, derivatives, in particular, involve numerous risks, including, among others, market risk, cou
Page: HOUSE_OVERSIGHT_014786 →Entities connected to both Merrill Lynch International Bank Limited and Insurance Corporation

Bank of America
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Merrill Lynch
ORGANIZATIONMerrill Lynch Canada Inc
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Merrill Lynch Global Wealth Management
ORGANIZATIONMerchant Bank
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United Kingdom
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Donald Trump
PERSONPierce, Fenner & Smith Incorporated
ORGANIZATIONOtoritas Jasa Keuangan
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BANA Australia
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Michael Bloomberg
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Bank of America Corporation
ORGANIZATIONthe Investment Industry Regulatory Organization of Canada
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Frankfurt
LOCATIONBank of America Merrill Lynch International Limited
ORGANIZATIONMerrill Lynch KSA Company
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the Financial Services Agency
ORGANIZATIONMerrill Lynch International Incorporated
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Seoul
LOCATIONthe Central Bank of Ireland
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