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ued by Merrill Lynch , Frankfurt Branch (BAMLI Frankfu PF&S and/or one or more of its no! distributed to MLPF&S clients in t os F 06872E and 198602 BANA Australia) and ribu ingapore) Pte Ltd in im me a ha der the Banking Act 19 jon is by Merrill Lynch (DIFC are done so in accord es this report in Germany
Page: HOUSE_OVERSIGHT_014422 →Lynch jon Authority | Lynch (Asia hority of h Mexico, SA de I Lyne h mited, errill Lynch I Lyne ated KSA Com h by pany, he K to errill ated I Lynch jonal EA nor A I Lynch siness fect any transaction in any | Lynch (Asia Pacific) Limited in pore recipients of this research her financial instru
Page: HOUSE_OVERSIGHT_014422 →ectively). 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 235132 (MLEA) distribute this report in Australia only to ‘Wholesal
Page: HOUSE_OVERSIGHT_010614 →or price targets) without first obtaining expressed permiss Materials prepared by BofA Merrill Lynch Global Research personnel are based on public i I Lynch, includ , BofA Merrill Lynch does not disclose certain client relationships witl rts. To the extent this report discusses any legal proceeding or iss
Page: HOUSE_OVERSIGHT_010615 →Investment Strategy
ectively). 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 235132 (MLEA) distribute this report in Australia only to ‘Wholesal
Page: HOUSE_OVERSIGHT_014457 →ons reflect the different time errill Lynch is under no obligation to ensure that such other trading ideas or recommendations are brought has contr I Lynch cl have not Lynch has establ insured by the Federal Deposi of America Corpora nclusion, or information con General Investment Related Disclosur
Page: HOUSE_OVERSIGHT_014458 →Quantitative Analysis
35132 (MLEA) distribute this report in Australia only to ‘Wholesale’ clients as defined by s.761G of the Corporations Act 2001. With the exception of BANA Australia, neither MLEA nor any of its affiliates involved in preparing this research report is an Authorised Deposit- Taking Institution under the Banking Act
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Page: HOUSE_OVERSIGHT_026002 →ecurities or other financial instruments and that such o seek advice regarding the applicability of such regu ations prior to ies and instruments, I Lynch entities a.com/col. ments linked to securities that may have been recommended in this report. MLPF&S or one of its affiliates may, at any time, hol
Page: HOUSE_OVERSIGHT_026003 →Entities connected to both BANA Australia and I Lynch

Merrill Lynch
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Bank of America
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Merrill Lynch Global Wealth Management
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Donald Trump
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United Kingdom
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ORGANIZATIONMerrill Lynch (Asia Pacific) Limited
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Seoul
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Bank of America Corporation
ORGANIZATIONThe Financial Service Board
ORGANIZATIONMerrill Lynch Equities (Australia) Limited
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