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HOUSE_OVERSIGHT_014404 - HOUSE_OVERSIGHT_014409
he express written consent of BofA Merrill Lynch. BofA Merril sed on public i | Lynch, including investment ba
: The protections provided by the U.K. regulatory regime, including the Financial Services Scheme, do not apply in general to business coordinated by BofA Merrill h policies relating to conflicts of interest are described at http://go.bofa.com/coi. ments linked to securities that may have been recommended in th
Page: HOUSE_OVERSIGHT_014423 →in jo security, finance! by the U.K. regulatory regime, including the Financial Services Scheme, do not apply in general to business coordinated by BofA Merrill are described at http://go.bofa.com/coi. ments linked to securities that may have been recommended in this report. MLPF&S or one of its instruments
Page: HOUSE_OVERSIGHT_014430 →HOUSE_OVERSIGHT_014432 - HOUSE_OVERSIGHT_014459
rch personnel are based on information known to, professionals in other business areas of BofA Merrill Lynch, including investment banking personnel. BofA Merrill Research and certain business groups. As a resul research reports. To the extent this report discusses any legal proceeding or issue , BofA her off
Page: HOUSE_OVERSIGHT_014458 →t of In the event therewith quity securities o he implementation rt. °o uding ADRs, effectively assume currency risk. de of the United Kingdom. BofA Merrill h h @ persons who prepared them, and Bo is report. LPF&S may be deemed beyond the delivery of this report (unless otherwise agreed 5| transactio
Page: HOUSE_OVERSIGHT_014651 →errill Lynch Global Research and certain busin research reports. To the extent this report discusses ou oO professionals in other business areas of BofA Merrill 5 report containing such rating, recommendation or in Any information relating to the tax status of financia seek tax advice based on their particul
Page: HOUSE_OVERSIGHT_014886 →eutsche Bank, ING Group, LPF&S together with its affiliates ownership position on he report: BNP Paribas The issuer is or was, wi ntesa, Santander. BofA Merrill Corporation, inc ved , Deutsche Bi hin the last ysts responsible for covering iliate was a manager of a pub compensa compensa ceive or in ntesa,
Page: HOUSE_OVERSIGHT_014999 →tions you have about our market views. Sincerely, Paul This material was prepared by the Chief Investment Office (CIO) and is not a publication of BofA Merrill Lynch Global Research. The views expressed are those of the CIO only and are subject to change. This information should not be construed as investment
Page: HOUSE_OVERSIGHT_016802 →ons, conclusion, or information con an authorized officer of BofA Merrill Lynch. ed in this material | Lynch, including investment banking personnel. BofA Merrill jons that are inconsistent rames, assumptions, views and analytical ‘0 the attention of any and in connection ly and does not extend with the execu
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Donald Trump
PersonPresident of the United States (2017–2021, 2025–present)

Merrill Lynch
OrganizationAmerican investing and wealth management division of Bank of America

United Kingdom
LocationCountry in north-west Europe

Merrill Lynch Global Wealth Management
OrganizationInvestment management and financial planning service
Bank of America Corporation
Organization2003 film by Mark Achbar, Jennifer Abbott
Merchant Bank
OrganizationDeals in commercial loans and investment

Bank of America
OrganizationAmerican multinational banking and financial services corporation

Frankfurt
LocationCity in Hesse, Germany
ILynch
Organization
Michael Bloomberg
PersonMerrill Lynch (Asia Pacific) Limited
Organizationthe Investment Industry Regulatory Organization of Canada
OrganizationMerrill Lynch International Bank Limited
Organizationthe Central Bank of Ireland
Organization
Merri
OrganizationCommune in Orne, France

BANA Australia
OrganizationCountry in Oceania

Seoul
LocationCapital and largest city of South Korea
The Financial Service Board
OrganizationPierce, Fenner & Smith Incorporated
OrganizationBaFin
Organization