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2012 Portfolio Strategy Thomas J Lee, CPAAc J.P. Morgan Securities LLC hor J.P. Morgan Secunties LLC Economic and Policy Research Malcolm Barr JPMorgan Chase Bank N.A. London Branch Rates Strategy Pavan Wadhwa J.P. Morgan Secunues Ltd. Global Asset Allocation Nikolaos Pani irtzoglou Proposed Agenda: J.P. Morg
Exchange Securities Trading Limited and is regulated by the Monetary Authority of Singapore (MAS) and/or JPMorgan Chase Bank. •., Singapore branch (JPMCB Singapore) which is regulated by the MAS. Malaysia: This material is issued and distributed in Malaysia by JPMorgan Securities (Malaysia) Sdn Bhd (18146-X) wh
rage universe. If it does not appear in the Important Disclosures section of this report, the certifying analyst's coverage universe can be found on J.P. Morgan's research website, J.P. Morgan Equity Research Ratings Distribution, as of April 3, 2012 Overweight Neutral (buy) (hold) Underweight (sell) I.P
Bank N.A. London Branch Rates Strategy Pavan Wadhwa J.P. Morgan Secunues Ltd. Global Asset Allocation Nikolaos Pani irtzoglou Proposed Agenda: J.P. Morgan Securities Ltd. Alex White (European Policy Strategist): • Key ground covered by the Summit. Next key dates among leaders; • Why political leaders seem to be mo
hange Securities Trading Limited and is regulated by the Monetary Authority of Singapore I hIAS) and/or JPMorgan Chase Bank. N.A., Singapore branch (JPMCB Singapore) which is regulated by the MAS. Malaysia: This material is issued and distributed in Malaysia by JPMorgan Securities (Malaysia) Sdn Bhd (18146-X) wh
s or announcements. market conditions or any other publicly available infomution. Clients should contact analysts and execute transactions through a J.P. Morgan subsidiary or affiliate in their home jurisdiction unless governing law permits otherwise. "Other Disclosures" last revised April 18, 2012. Copyrig
rage universe. If it does not appear in the Important Disclosures section of this report. the certifying analyst's coverage universe can be found on J.P. Morgan's research website, www.morganmarkets.com. J.P. Morgan Equity Research Ratings Distribution, as of April 3.2012 Overnight Neutral Underweight (buy)
IPC and the NFA. JP6torgan Chase Bank. N.A. is a member of FDIC and is authorized and regulated in the UK by the Financial Services Authority. U.K,: J.P. Morgan Securities Ltd. (JPMSL) is a member of the London Stock Exchange and is authorized and regulated by the Financial Services Authority. Registered in England & Wales
other industrial commodities to pick-up sharply as we head into the summer and through the second half of the year. Jan Loeys (AC) EFTA00630376 JPMorgan Chase Bank NA John Normand J.P. Morgan Securities Ltd. Nikolaos Pani irtzoglou J.P. Morgan Securities Ltd. Seamus Mac Gorain J.P. f,,lorgan Securities Ltd.
res, including price charts, related to the companies recommended in this report are available in the PDF attachment, through the search function on J.P. Morgan's website Impslimmjptnorgan.comAisclosuresjsp, or by calling this toll free number (1-800-477-0406). J.P. Morgan does and seeks to do business with c
up sharply as we head into the summer and through the second half of the year. Jan Loeys (AC) EFTA00630376 JPMorgan Chase Bank NA John Normand J.P. Morgan Securities Ltd. Nikolaos Pani irtzoglou J.P. Morgan Securities Ltd. Seamus Mac Gorain J.P. f,,lorgan Securities Ltd. Matthew Lehmann J.P. Morgan Securities Ltd
Entities connected to both JPMorgan Chase and J.P. Morgan Securities Ltd.

Malaysia
LOCATION
Philippines
LOCATION
New Zealand
LOCATION
the Ministry of Finance
ORGANIZATIONthe Securities and Futures Commission
ORGANIZATION
Mumbai
LOCATIONthe Central Bank of Brazil
ORGANIZATIONthe Indonesia Stock Exchange
ORGANIZATIONthe Mexican Stock Exchange
ORGANIZATIONthe Taiwan Securities and Futures Bureau
ORGANIZATIONBombay Stock Exchange Limited
ORGANIZATIONthe Stock Exchange of Thailand
ORGANIZATIONthe Philippine Stock Exchange
ORGANIZATIONEngland & Wales
LOCATIONKanto Local Finance Bureau
ORGANIZATIONThe Financial Futures Association of Japan
ORGANIZATIONthe Stock Exchange
ORGANIZATIONCapital Markets Services License
ORGANIZATIONthe Karachi Stock Exchange
ORGANIZATIONDubai Branch
ORGANIZATION