INTERNATIONAL MARKET INTELLIGENCE | MORNING BRIEFING

Research evidence excerpt

INTERNATIONAL MARKET INTELLIGENCE | MORNING BRIEFING

Securities LLC (“JPMS”) and J.P. Morgan Securities plc (“JPMS plc”). Clearing, prime brokerage and custody services are provided by

JPMS in the US and JPMS plc in the UK. JPMS is a registered US broker dealer affiliate of JPMorgan Chase & Co., and a member of

FINRA, NYSE and SIPC. JPMS plc is authorized by the Prudential Regulation Authority and regulated by the Financial Conduct

Authority and the Prudential Regulation Authority in the UK. In Asia, services are provided by JPMS plc through J.P. Morgan Securities

(Asia Pacific) Limited. J.P. Morgan Securities (Asia Pacific) Limited is regulated by the Hong Kong Monetary Authority and the

Securities and Futures Commission of Hong Kong. In Japan, capital introduction services are provided through JPMorgan Securities

Japan Co., Ltd. JPMorgan Securities Japan Co., Ltd. Is regulated by the Financial Services Agency of Japan. Other investment banking

affiliates and subsidiaries of J.P. Morgan in other jurisdictions worldwide are registered with local authorities as appropriate.

J.P. Morgan Corporate & Investment Bank Marketing, 25 Bank Street, Floor 30, Canary Wharf, London E14 5JP, United Kingdom.

Important Reminder: JPMorgan Chase will never send emails that require you to send account information or passwords to us via public

email or pop-up windows.

Although this transmission and any links/attachments are believed to be free of any virus or other defect that might affect any computer

system into which it is received and opened, it is the responsibility of the recipient to ensure that it is virus free and no responsibility is

accepted by JPMorgan Chase & Co., its affiliates, as applicable, for any loss or damage arising in any way from its use.