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d-24347House OversightOther

Bank of America Merrill Lynch Research Report Boilerplate Disclaimer

The passage consists entirely of standard legal and compliance language for a research report, containing no specific names, transactions, dates, or allegations that could be pursued as an investigati Standard disclaimer about investment risks and past performance. Repeated references to BofA Merrill Lynch internal information barriers and conflicts of interest po No mention of specific securities

Date
November 11, 2025
Source
House Oversight
Reference
House Oversight #014458
Pages
5
Persons
0
Integrity
No Hash Available

Summary

The passage consists entirely of standard legal and compliance language for a research report, containing no specific names, transactions, dates, or allegations that could be pursued as an investigati Standard disclaimer about investment risks and past performance. Repeated references to BofA Merrill Lynch internal information barriers and conflicts of interest po No mention of specific securities

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EFTA Disclosure
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o account the specific investment o that statements regarding future prospects may not be realized. Any decision to purchase or subscribe for securities in any o security or the information in the prospectus or ot! Securities and other financial instruments discussed in this report, or recommended, o any insured depository institution (including, Bank o deposits or other obligations o among others, market risk, coun instruments may be difficult to value or sell and rel income from such securities and other financial instruments, if any, may fluctuate an ment. Past performance is not necessarily a guide to ose their entire principal inves This report may contain a short- reflects both a longer term total be more or less positive than as BofA Merrill Lynch is aware that e Foreign currency rates o bq ime, hold a BofA Merrill Ww me recipient of this report. In the event that the recipient received this report pursuant to a contract therewith MLPF&S may be deemed transactions, including transactions i the issuer. Short-term trading ide y rating. gor restricting "shortselling” in many j instrument Copyright and General Information regarding Research Reports: Copyright 2016 Bank of America Cor retransmitted or disclosed, in whole simultaneously to internal or in part, or in any form or manner, without and client websites and other portals by BofA review of this research report consti (including any investmen BofA Merrill Lynch Global hould consult their ow ny BofA Merrill Lynch en n public information. Fac pa | ities. None of MLPF&S, any of i Research policy prohibits rese containing such rating, recom ormation relating to the tax s The information herein (o utes your agreement not to redistribute, retransmi recommendations, estimates or price targets) without Materials prepared by BofA Merrill Lynch Global Research personnel are based on information known to, professionals in other business areas of BofA Merrill Lynch, including investment banking personnel. BofA Merrill Research and certain business groups. As a resul research reports. To the extent this report discusses any legal proceeding or issue , BofA her offering document issued in connec K. regulatory regime, including the Financial Services Scheme, do not a errill Lynch Global Research policies relating to conflicts of interest are described at http://go.bofa.com/coi. ments linked to securities that may have been recommended in this report. ML public i errill s, it has not been prepared as nor is it intended to express any legal conclusion, opinion or advice. Investors mendation or investment thesis. plaintifi e to any such al instrument or derivative is suitab id tha as and recommendations are dif relative to other stocks within i ation of the ideas expressed in this report may depend upon an investor's abi urisdictions. Investors are urged s discussed in this report. poration. All rights reserved. iQmethod, iQmethod 2.0, iQprofile, iQtoolkit, iQworks are service marks of Ban iQcustom®, iQdatabase® are registered service marks of Bank of America Corporation. This research report is prepared for the use of BofA Merri he express written consent of BofA Merrill Lynch. BofA Merri errill Lynch and are not publicly-available materials. Any unauthorized use or di , or disclose to others the contents, opinions, co first obtaining expressed permission from an authorized officer of BofA Merrill Lynch. nformation. Facts and views presented in this material Lynch does not disclose certain clien erent fi s Coverage Cluster. Short-term trading ideas and recommendations may pinion expressed herein constitutes an offer or a solicitation of an offer to transact in any securities or o fering must be based solely ion with such offering, and not on this report. fered or sold by Merrill Lynch, are not America, N.A}. Investments in general anc, derivatives, in particular, involve numerous risks, including, erparty default risk and liquidity risk. No security, financi iable information about the value or e for all investors. In some c risks related to the security or financial instrument may be difficu price or value of such securities and instruments may rise or fal uture performance. Levels and basis for taxation may change. erm trading idea or recommendation, which highlights a specific near-term catalyst or even short-term price impact on the equity securities o return expectation and attractiveness for investmen ock's fundamental equi he implemen action may be limited by regulations prohibitin ecuting any short idea contained in this report. exchange may adversely affect including ADRs, effectively assume currency risk. UK Readers: The protections provided by the U. located outside of the United Kingdom. BofA LPF&S or one of its affiliates is a regular issuer of traded financial instru rading position (long or short) in the securities and financial Lynch, through business units other than Bo ith, and reach different conclusions from, the information presented in hods of the persons who prepared them, and BofA impacting the issuer or the rom and do not affect a stoc ity to "short" securities or ot o seek advice regarding the applicability of such regula he value, price or income of any security or financial instrument mentioned in this report. Inves pply in general to business coordinated by BofA Merrill ‘A Merrill Lynch Global Research, may have issued and may in the future issue trading ideas or recommenda his report. Such ideas or recommendations reflect the different time errill Lynch is under no obligation to ensure that such other trading ideas or recommendations are brought has contr I Lynch cl have not Lynch has establ insured by the Federal Deposi of America Corpora nclusion, or information con General Investment Related Disclosures: Taiwan Readers: Neither the information nor any | this report may be used or reproduced or quoted in any manner whatsoever in Taiwan by t This research report provides general information only. Neither the information nor any op other financial instrument or any derivative related personal investment advice and it does not take in financial advice regarding the appropriateness of investing in financial instruments and her financial instrument. No part of he press or any other person without the express written consent of BofA Merrill Lynch. inion expressed constitutes an offer or an invitation to make an offer, to buy or sell any securities or to such securities or instruments (e.g, options, futures, warrants, and contracts for differences}. This report is not intended to provide bjectives, financial situation and the particular needs of any specific implementing investment strategies discussed or recommended in this report and should understand person. Investors should seek on existing public information on such Insurance Corporation and are not ases, securities and other financial t to obtain. Investors should note that and, in some cases, investors may market that is anticipated to have a 's fundamental equity rating, which instruments and that such ions prior to her financia ors in such securities and instruments, Lynch entities PF&S or one of its affiliates may, at any jons that are inconsistent rames, assumptions, views and analytical ‘o the attention of any between the recipient and MLPF&S for the provision of research services for a separate fee, and in connection o be acting as an investment adviser, such status relates, if at all, solely to the person with whom MLPF&S beyond the delivery of this report (unless otherwise agreed specifically in acted directly and does not extend writing by MLPF&S). MLPF&S is and continues to act solely as a broker-dealer in connection with the execution of any nany securities mentioned in this report. jon. iQanalytics®, lients and may not be redistributed, Lynch Global Research reports are distributed sclosure is prohibited. Receipt and ained in this report been reviewed by, and may not reflect ished information barriers between t relationships with, or compensation received from, such issuers in s a s, defendants, co-defendants or co-plaintiffs wi fo proceedings have not been reviewed by, discussed with, and may not reflect professionals in other business areas of BofA Merrill Lynch in connection with the legal proceedings or matters relevant to such proceedings. This report has been prepared independently of any issuer of securities mentioned herein and not in connection with any proposed offering of securities or as agent of any issuer of any s affiliates or their research analysts has any authority whatsoever to make any representation or warranty on behalf of the issuer(s). Bo arch personnel from disclosing a recommendation, investment rating, or investment thesis for review by an issuer prior to the publication of a research atus of financial instruments discussed herein is not intended to provide tax advice or to be used by anyone to provide tax advice. ax advice based on their particular circumstances from an independent tax professional. her than disclosure information relating to BofA Merrill Lynch and its affiliates) was obtained from various sources and we do not guarantee its accuracy. This report egal advisers as to issues of law relating to the subject matter of this report. BofA Merrill Lynch Global Research personnel’s knowledge of legal proceedings in which ity and/or its directors, officers and employees may be 5 and views presented in this material that rela h or involving issuers mentioned in this report is based information known to, A Merrill Lynch nvestors are urged to may contain links to third-party websites. BofA Merrill Lynch is not responsible for the content of any third-party website or any linked content contained in a third-party website. Content contained on such third-party websi any affiliation with BofA Merrill Lync submitting any personal in ormation to them. BofA es is not part o Certain outstanding reports may contain discussions and/or investment opinions relating to securities, financial instruments and/or issuers that are no longer curren recent research report rela In some cases, an issuer may be classified as Restric its security and/or financia ing to an issuer prior to making an investment decision. ed or may be Under Review or Extended Review. In each case, investors should consider any investment opinion instruments) to be suspended or withdrawn and should not rely on the analyses and investment opinion(s) pertaining to such issuer (or i this report and is not incorporated by reference into this report. The inclusion of a link in this report does not imply any endorsement by or h. Access to any third-party website is at your own risk, and you should always review the terms and privacy policies at third-party websi errill Lynch is not responsible for such terms and privacy policies and expressly disclaims any liability for them. es before . Always refer to the most relating to such issuer (or s securities and/or financial instruments) nor should the analyses or opinion(s) be considered a solicitation of any kind. Sales persons and financial advisors affiliated with MLPF&S or any of its affiliates may not solicit purchases of securities or fina ncial instrumen s that are Restricted or Under Review and may only solicit securities under Extended Review in accordance with irm policies. Neither BofA Merrill Lynch nor any officer or employee of BofA Merrill Lynch accepts any liability whatsoever for any direct, indirect or consequential damages or losses arising from any use of this report or its contents. Bankof America Merrill Lynch Global Cross Asset Strategy - Year Ahead | 30 November 2016 27

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