JPMorgan Chase Bank, M. (JPMCB) Hong Kong branch except to recipients having an account at JPMCB Singapore branch and where this material relates to a Collective Investment Scheme in which case it is distributed by. Morgan Securities (Asia Pacific) Umited (IPMSAPL). Both JPMCB Hong Kong branch and 1PMSAPL are regulated by the

aterial is distributed by JPMCB Singapore branc= except to recipients having an account at JPMCB Singapore branch and wher= this material relates to a Collective Investment Scheme (other than=private funds such as a private equity and hedge funds) in which case it i= distributed by J.P. Morgan (S.E.A.) Limited (JPMSEAL). =oth