Epstein Secrets

onships* Count Percent Buy 58 46.03% Buy 45 17.59% Hold 34 26.98% Hold 29 85.29% Sell 34 26.98% Sell 20 58.82% Equity Investment Rating Distribution: Global Group (as of 30 Sep 2016) Coverage Universe Count Percent Inv. Banking Relationships* Count Percent Buy 1553 49.44% Buy 1130 12.16% Hold 730 23.24% Hold 5

h (Hong Kong): Merrill Lynch (Asia Pacific) Limited, regulated by the Hong Kong Securities and Futures Commission (HKSFC); Merrill Lynch (Singapore): Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS); Merrill Lynch (Canada): Merrill Lynch Canada Inc, regulated by the Investment Industry Regul

nships* Count Percent Buy 109 49.77% Buy 84 17.06% Hold 52 23.14% Hold 43 82.69% Sell 58 26.48% Sell 34 58.62% Equity Investment Rating Distribution: Global Group (as of 31 Mar 2017) Coverage Universe Count Percent Inv. Banking Relationships* Count Percent Buy 1578 51.33% Buy 979 62.04% Hold 690 22.45% Hold 43

; Merrill Lynch (Hong Kong): Merri Pacific) Limited, regulated by the Hong Kong Securities and Futures Commission (HKSFQ); Merrill Lynch (Singapore): Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Au Singapore (MAS); Merrill Lynch (Canada): Merrill Lynch Canada Inc, regulated by the Investment Industry Regulatory Orga

onships* Count Percent Buy 126 59.43% Buy 70 55.56% Hold 35 16.51% Hold 7 48.57% Sell 51 24.06% Sell 17 33.33% Equity Investment Rating Distribution: Global Group (as of 31 Mar 2017) Coverage Universe Count Percent Inv. Banking Relationships* Count Percent Buy 1578 51.33% Buy 979 62.04% Hold 690 22.45% Hold 43

h (Hong Kong): Merrill Lynch (Asia Pacific) Limited, regulated by the Hong Kong Securities and Futures Commission (HKSFC); Merrill Lynch (Singapore): Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS); Merrill Lynch (Canada): Merrill Lynch Canada Inc, regulated by the Investment Industry Regul

: No purchase or sale of CDS is recommended. Sell Protection: Sell CDS, therefore going long credit risk. Sovereign Investment Rating Distribution: Global Group (as of 31 Mar 2016) Coverage Universe Count Percent Inv. Banking Relationships* Count Percent Buy § 12.82% Buy 2 40.00% Hold 28 71.79% Hold 12 42.86

fic advice on securities. Singapore recipients of this research report should contact Merrill Lynch International Bank Limited (Merchant Bank) and/or Merrill Lynch (Singapore) Pte Ltd in respect of any matters arising from, or in connection with, this research report. General Investment Related Disclosures: Taiwan Readers: Neither