for Facebook and Priceline. Table 3: 1Q17 BofAML Estimates vs. The Street Large Cap Stocks (>$5bn Market Cap) Small Cap Stocks (<$5bn Market Cap} BofA ML vs. BofA ML vs. Ticker 1Q17 Metric BofA ML Street Street Ticker 1Q17 Metric BofA ML Street Street AMZN Revenue $35,335 $35,255 RATE Revenue $117 $1

Tencent jumped post better than expected earnings SX7E 1M 25d call / SX5E 1M 25d call price ratio is in the 100" 2-yr percentile Close position and BofA ML turned neutral in EM in the short-term Close position and BofA ML turned neutral in EM in the short-term Close position and BofA ML turned neutral in

rther increases in spare capacity take place. Our BofAML commodities research medium-term supply-demand ba

Tencent jumped post better than expected earnings SX7E 1M 25d call / SX5E 1M 25d call price ratio is in the 100" 2-yr percentile Close position and BofA ML turned neutral in EM in the short-term Close position and BofA ML turned neutral in EM in the short-term Close position and BofA ML turned neutral in

C. AlphaKeys Millennium Fund III, LL.C. AlphaKeys Millennium Fund (Offshore), LLC. Indexes if RI Fund Weighted Composite Index S&P 500 Index BofA ML U.S. 3-Month Treasury Bill Index ' The use of indexes is for illustrative purposes only. For more information about indexes, see "indexes" section a

DJPY IMth vols are down to YTD low: Pricing in a slow summer • USDJPY 2M-1M term structure at its steepest & NKY's in its 98th %-ile since 2011 • BofA ML: BoJ plans for Sep16 'comprehensive assessment' create uncertainty • Market expectation for the Sep BOJ in terms of fwd vol is the near its lows YT

vols are down to YTD low:=Pricing in a slow summer * * USDJPY 2M-1M term structure at its steepest &am=; NKY's in its 98th %-ile since 2011 • * BofA ML: BoJ plans for Sep16 'comprehensive=assessment' create uncertainty * * Market expectation for the Sep BOJ in terms of =wd vol is the near its lows