ill Lynch Canada Inc, regulated by the Investment Industry Regulatory Organization of Canada; Merrill Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regulated by the Comisidn Nacional Bancaria y de Valores; Merrill Lynch (Argentina): Merrill Lynch Argentina SA, regulated by Comisién Nacional de V

liate Research Reports: LPF&S distributes, or may in South Africa ( PRA}; Merrill Lynch (Aus Pacific) Limited, regulate Singapore (MAS); Merrill CV, Casa de Bolsa, regulated by japan}: Merrill Lynch Japan Sec Financial Supervisory Service; regulated by the Securities and srael Limited, regulated by Isra DIFC):

ill Lynch Canada Inc, regulated by the Investment Industry Regulatory Organization of Canada; Merrill Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regulated by the Comisidn Nacional Bancaria y de Valores; Merrill Lynch (Argentina): Merrill Lynch Argentina SA, regulated by Comisién Nacional de V

ynch and Distribution of Affiliate Research Reports: South Africa ( PRA}; Merrill Lynch (Aus Pacific) Limited, regulate Singapore (MAS); Merrill CV, Casa de Bolsa, regula japan): Merri Financial Supervisory Service; regulated by srael Limited, DIFC): Merrill Lynch In Comisi6n Nacional del errill Lynch Kingdom o

ill Lynch Canada Inc, regulated by the Investment Industry Regulatory Organization of Canada; Merrill Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regulated by the Comisidn Nacional Bancaria y de Valores; Merrill Lynch (Argentina): Merrill Lynch Argentina SA, regulated by Comisién Nacional de V

ill Lynch Canada Inc, regulated by the Investment Industry Regulatory Organization of Canada; Merrill Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regulated by the Comisidn Nacional Bancaria y de Valores; Merrill Lynch (Argentina): Merrill Lynch Argentina SA, regulated by Comisién Nacional de V

butes, or may in Pty) Ltd., regulated by The Financial Service Board; MLI (U Lynch (Australia): d, regulated by th Singapore (MAS); Merrill Lynch CV, Casa de Bolsa, regulated by Financial Supervisory Service; he Securities and onal del Mercado De ertill Lynch Kingdom of Saudi Ara This research report: has been

a Limited. As usedin this disclosure section, "Morgan Stanley’ includes Morgan Stanley &Co. LLC, Morgan Stanley C.T.V.M. S.A., Morgan Stanley Mexico, Casa de Bolsa, S.A. de C:V., Morgan Stanley Canada Limited and their affiliates as necessary. For important disclosures, stock price charts and equity rating hist

ill Lynch Canada Inc, regulated by the Investment Industry Regulatory Organization of Canada; errill Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regulated by the Comisién Nacional Bancaria y de Valores; Merrill Lynch (Argentina): Merrill Lynch Argentina SA, regulated by Comisién Nacional de V

rill Lynch Canada Inc, regulated by the Investment Industry RegulatoryOrganization of Canada; Merrill Lynch (Mexico): Merrill Lynch Mexico SA de CV, Casa de Bolsa, regulated by the Comisi6n Nacional Bancaria y de Valores; Merrill Lynch 'Argentina): Merrill Lynch Argentina SA, regulated by Conisien Nacional de V

d opinions in Morgan Stanley Research were prepared by Morgan Stanley & Co. LLC. and/or Morgan Stanley MIR S.A.. C M and/or Morgan Stanley Mexico. Casa de Bolsa. S.A. de V.. ' gan Stanley Canada Limited. used in this disclosure sec ion, Morgan Stanley includes Morgan Stanley & Co. LLC, Morgan Stanley S.