imited, regulated by the Hong Kong Securities and Futures Commission (HKSFCJ; Meml Lynch (Singapore): Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS); Merrill Lynch (Canada): Merrill Lynch Canada Inc, regulated by the Investment Industry RegulatoryOrganization of Canada; Merrill

JPMSS) Nick (P) 088/04/2012 and Co. Reg. No.: 199405335R] which is a member of the Singapore Exchange Securities Trading Limited and is regulated by the Monetary Authority of Singapore (MAS) and/or JPMorgan Chase I3ank. S. Singapore branch (JPMCB Singapore) which is regulated by the MAS. Malaysia: This material is iss

ent. You should consider carefully whether the investment is suitable for you. The product named in this document is not authorised or recognized by the Monetary Authority of Singapore 'the "IvlAr) and none of its interests / shores / units shdl be allowed to be offered to retail public in Singapore. This document may

ent. You should consider carefully whether the investment is suitable for you. The product named in this document is not authorised or recognized by the Monetary Authority of Singapore 'the "IvlAr) and none of its interests / shores / units shdl be allowed to be offered to retail public in Singapore. This document may

ent. You should consider carefully whether the investment is suitable for you. The product named in this document is not authorised or recognized by the Monetary Authority of Singapore 'the "IvlAr) and none of its interests / shores / units shdl be allowed to be offered to retail public in Singapore. This document may

ent. You should consider carefully whether the investment is suitable for you. The product named in this document is not authorised or recognized by the Monetary Authority of Singapore 'the "IvlAr) and none of its interests / shores / units shdl be allowed to be offered to retail public in Singapore. This document may

k of Bahrain (for professional clients WW1 Hong Kong frand.., regulated by the Hong Kong Monetary Authority and WMCB Singapore brands regulated by the Monetary Authority or SniNmere. TIM maters, et not intended as an offer or solicitation for the purchase or sale of any financial instrument ) P. Morgan Securities SI

You should consider carefully whether the investment is suitable for you. The product named in this Presentation is not authorized or recognized by the Monetary Authority of Singapore (the "MAS") and none of its interests / shares / units shall be allowed to be offered to retail public in Singapore. This Presentatio

You should consider carefully whether the investment is suitable for you. The product named in this Presentation is not authorized or recognized by the Monetary Authority of Singapore (the "MAS") and none of its interests / shares / units shall be allowed to be offered to retail public in Singapore. This Presentatio

You should consider carefully whether the investment is suitable for you. The product named in this Presentation is not authorized or recognized by the Monetary Authority of Singapore (the "MAS") and none of its interests / shares / units shall be allowed to be offered to retail public in Singapore. This Presentatio

You should consider carefully whether the investment is suitable for you. The product named in this Presentation is not authorized or recognized by the Monetary Authority of Singapore (the "MAS") and none of its interests / shares / units shall be allowed to be offered to retail public in Singapore. This Presentatio