James Barty >> Ajay Singh Kapur, CFA >> Investment Strategist Equity Strategist MLI (UK) Merrill Lynch (Hong Kong) +44 20 7996 3291 +852 3508 7753 [email protected] [email protected] Ronan Carr, CFA >> Shusuke Yamada, CFA >> European Equity Strategist FX/Equity Strategist MLI (UK) Merrill Lynch (Japan) +44 20 7996 3292 +81 3 6225 8515 [email protected] [email protected] Tommy Ricketts >> European Equity Strategist MLI (UK) >> Employed by a non-US affiliate of MLPF&S and is +44 20 7996 3294 not registered/qualified as a research analyst under the [email protected] FINRA rules. Barnaby Martin Refer to “Other Important Disclosures" for information Credit Strategist on certain BofA Merrill Lynch entities that take Md pe nas 0458 responsibility for this report in particular jurisdictions. [email protected] This document is intended for BofA Merrill Lynch , , institutional investors only. It may not be distributed loannis Angelakis ; to BofA Merrill Lynch Financial Advisors, retail clients or Credit Derivatives Strategist P MLI (UK) retail prospects. +44 20 7996 0059 [email protected] Hans Mikkelsen Credit Strategist MLPF&S +1 646 855 6468 [email protected] Abhinandan Deb >> Equity-Linked Analyst MLI (UK) +44 20 7995 7148 [email protected] Nitin Saksena Equity-Linked Analyst MLPF&S +1 646 855 5480 [email protected] Benjamin Bowler Equity-Linked Analyst MLPF&S +1 415 676 3595 [email protected] lan Gordon FX Strategist MLPF&S +1 646 855 8749 [email protected] Kamal Sharma FX Strategist MLI (UK) +44 20 7996 4855 [email protected] Claudio Piron Emerging Asia FI/FX Strategist Merrill Lynch (Singapore) +65 6591 0401 [email protected] David Hauner, CFA EEMEA Cross Asset Strategist MLI (UK) +44 20 7996 1241 [email protected] Shyam S.Rajan Rates Strategist MLPF&S +1 646 855 9808 [email protected] Mark Capleton Rates Strategist MLI (UK) +44 20 7995 6118 [email protected] 28 Global Cross Asset Strategy -