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has the meaning given in section 7616 of the Corporations Act 2001. Germany: This material is distributed in Germany by 1.P. Morgan Securities plc, Frankfurt Branch and J.P.Morgan Chase Bank, N.A., Frankfurt Branch which are regulated by the Bundesan.stalt far Finanzdienstleistungsaufsicht. Hong Kong: The
harmaceuticals (VRTX) J.P. Morgan Equity Research Ratings Distribution, as of March 31, 2014 Overnight Neutral (buy) (hold) Underweight (sell) J.P. Morgan Global Equity Research Coverage 44% 44% 11% H3 clients• 38% 49% 40% JPMS Equity Research Coverage 45% 48% 7% H3 clients• 78% 67% 60% •Percentage of investment bankin
has the meaning given in section 761G of the Corporations Act 2001. Germany: This material is distributed in Germany by J.P. Morgan Securities plc, Frankfurt Branch and J.P.Morgan Chase Bank. N.A., Frankton Branch which arc regulated by the Bundesanstalt fir Finanzdienstleistungsaufsicht. Hong Kong: The
ity Properties (RHP) J.P. Morgan Equity Research Ratings Distribution, as of March 31, 2014 Overweight Neutral Underweight (buy) (hold) (sell) J.P. Morgan Global Equity Research Coverage 44% 44% I I% IB clients* 58% 49% 40% JPMS Equity Research Coverage 45% 48% 7% IB clients* 78% 67% 60% *Percentage of investment banki
has the meaning given in section 761Ci of the Corporations Act 2001. Germany: This material is distributed in Lemony by J.P. Morgan Securities plc, Frankfurt Branch and J.P.Morgan Chase Bank, N.A., Frankfurt Branch which arc regulated by the Bundesanstalt fir Finanzdienstleistungsaufsicht. Hong Kong: The
search 18 June 2014 J.P. Morgan Equity Research Ratings Distribution, as of March 31, 2014 Overweight Neutral (buy) (hold) Underweight (sell) J.P. Morgan Global Equity Research Coverage 44% 44% 11% IB clients° 58% 49% 40% JPMS Equity Research Coverage 45% 48% 7% IB clients° 78% 679/. 60% J.P.Morgan *Percentage of inv
has the meaning given in section 7616 of the Corporations Act 2001. Germany: This material is distributed in (iemany by J.P. Morgan Securities plc, Frankfurt Branch and J.P.Morgan Chase Bank. N.A., Frankfurt Branch which arc regulated by the Bundesansialt fir Finanzdienstleistungsaufsicht. Hong Kong: The
International (WFT) J.P. Morgan Equity Research Ratings Distribution, as of March 31, Overweight Neutral 2014 Underweight (buy) (hold) (sell) J.P. Morgan Global Equity Research Coverage 44% 44% 11% IB clients* 58% 4We 40% JPMS Equity Research Coverage 45% 48% 7% IB clients° 78% 67% 60% *Percentage of investment bankin
has the meaning given in section 761G of the Corporations Act 2001. Germany: This material is distributed in Germany by J.P. Morgan Securities plc, Frankfurt Branch and J.P.Morgan Chase Bank. N.A., Frankfurt Branch which are regulated by the Bundesanstalt fir Finanzdienstleistungsaufsicht. Hong Kong: The
oldings, Inc. (WAIR) J.P. Morgan Equity Research Ratings Distribution, as of March 31, 2014 Overweight Neutral Underweight (buy) (hold) (sell) J.P. Morgan Global Equity Research Coverage 44% 44% 11% IB clients° 58% 49% 40% JPMS Equity Research Coverage 45% 48% 7% IB clients° 78% 67% 60% *Percentage of investment bankin
has the meaning given in section 76ICi of the Corporations Act 2001. Germany: This material is distributed in Germany by J.P. Morgan Securities pk, Frankfurt Branch and J.P.Morgan Chase Bank, N.A., Frankfurt Branch which arc regulated by the Bundesanstalt fiir Finanzdienstleistungsaufsicht. Hong Kong: The
ity Properties (RHP) J.P. Morgan Equity Research Ratings Distribution, as of March 31, 2014 Overweight Neutral Underweight (buy) (hold) (sell) J.P. Morgan Global Equity Research Coverage 44% 44% 11% IB clients* 58% 49% 40% JPMS Equity Research Coverage 45% 48% 7% IB clients° 78% 67% 60% *Percentage of investment bankin
Entities connected to both Frankfurt and J.P. Morgan Global Equity Research Coverage

Bloomberg L.P.
ORGANIZATIONthe Prudential Regulation Authority
ORGANIZATION
New Zealand
LOCATION
Malaysia
LOCATIONThe Financial Futures Association of Japan
ORGANIZATIONthe Securities and Exchange Commission
ORGANIZATION
Philippines
LOCATION
JPMorgan Chase
ORGANIZATION
the Financial Services Agency
ORGANIZATIONthe Capital Market Authority
ORGANIZATION
Mumbai
LOCATIONJapan Investment Advisers Association
ORGANIZATIONthe Securities and Futures Commission
ORGANIZATION
Condoleezza Rice
PERSONJ.P. Morgan Securities LLC
ORGANIZATIONthe Central Bank of Brazil
ORGANIZATION
the Ministry of Finance
ORGANIZATION
Bangkok
LOCATIONthe Philippine Stock Exchange
ORGANIZATION
Saudi Arabia
LOCATION