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Investment Strategy
rs should seek on existing public information on such Insurance Corporation and are not ases, securities and other financial
art, or in any form or manner, without and client websites and other portals by BofA review of this research report consti (including any investmen BofA Merrill Lynch Global hould consult their ow ny BofA Merrill Lynch en n public information. Fac pa | ities. None of MLPF&S, any of i Research policy prohibits rese conta
Page: HOUSE_OVERSIGHT_014458 →be based solely on existing public information on such Insurance Corporation and are not volve numerous risks, including, oth
retransmitted or disclosed, in whole simultaneously to interna review of this research report consti (including any investmen Materials prepared by BofA Merrill Lynch Global Rese utes your agree information known to, professionals in other business areas of BofA Merri BofA researc hould erri Research and certain busin
Page: HOUSE_OVERSIGHT_014651 →rtionate to index weights 70 60 50 40 30 20 10 0 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 — 2% —<0% 4 0.5 1 1.5 2 Source: Eurostat, BofA Merrill Lynch Global Research Source: Eurostat, BofA Merrill Lynch Global Research Core inflation at 0.8% is barely above the 2015 low of 0.6%. One statistic that often
Page: HOUSE_OVERSIGHT_014744 →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 Insurance Corporation and BofA Merrill Lynch Global

Bank of America Corporation
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATION
Donald Trump
PERSON
Bank of America
ORGANIZATIONOtoritas Jasa Keuangan
ORGANIZATIONMerrill Lynch Canada Inc
ORGANIZATION
Merrill Lynch
ORGANIZATIONMerrill Lynch International Bank Limited
ORGANIZATIONPierce, Fenner & Smith Incorporated
ORGANIZATIONthe Investment Industry Regulatory Organization of Canada
ORGANIZATIONMerrill Lynch International Incorporated
ORGANIZATIONMerchant Bank
ORGANIZATION
BANA Australia
ORGANIZATION
United Kingdom
LOCATION
Frankfurt
LOCATION
Michael Bloomberg
PERSONthe Prudential Regulation Authority
ORGANIZATIONILynch
ORGANIZATIONthe Capital Market Authority
ORGANIZATIONThe Financial Service Board
ORGANIZATION