EFTA01519823

J.PMorgan CHISLAINE MAXWELL ACCT r the Period 611AY) to 6130109 Important into &Yon PegardryAudon Rale SocianeNARS) ARS erode& or Notetrodsocureasintn an interest& &Nand rateraset potcdcarryin an aurora &bough ewe may be daily kook/yam, monme mime moms no ganntaetnat mere kW& lewd% If Mare are no: enough Ads wan mice On to redeemthe securities avadabelor salt the mug may bee failed duct& Ina fatted auctfion Mere a no ass krancedrat a sacondarymaiket we devotion, Mat the security fl ask,* al car or any odor price rarectol on stakevents AMONMIN investors MOM not NO On wend informalrOnaPpeenng in Mew Sti&Ments with reaped:IA) ARS JPMSI is the onto:hen& Anted options pumhased through JPMSI You must proem* adarsaJPIaa ol mafanalchangas n you, "osanant cdadcewds a bronco, aduabon Unless you Nam JPIASPothanwse JPMSI wR consider ass inforrnationcwon6 yin as Mos to be compete and accuyta You Moue harenocenedsoparateJPMSIconfrmobons for each Marren bansechon All treanSeCbOnS are sublime to the terms and condbons staled on the ovvesoado of such conNmatons and are sirtyed to Me combed& byJans customs rand nematode/0ns of to inirketpenewoereexecorect and pmerned by and construed in sap:Nance**, Me bas of the Stifle of Are Ycekand ag tipplcaters Woollens and regulations. Further intimation me, respect to coornisoons one otha Georges reeled b toe e.e utond trevisectrana Inckchng Nlions Yansaaons has boon included in ctenfrinalons Mel won pley Oddly lanahed to you Upon m4701 'nowt JPMSI we pr0&MYSoPPIY you a& the AMASS such information Sharehodevsol certain JPMcrgen Funds radwgeda reilerrpron %enamel to 2% Of The proceeds they eiditinipsa redeemMara Of se& funds warm GO dayaNpurrnase subreCI1 0 Certain exCeptiOns NI bon el me prOspeOus or the oppkistiiiirund Please <ONO! yatJ P Morgan roprosontandor a let of the JPMorgan Funds Martinmas* re Mambo° Nos JPMSI as a member of the Semmes Investor Aolectzio Corporeon (YIPC7.• not-lor-proa mambas& cognation tended by broker-desders moisten& with WO SeninIleS and ExcnangeConvnabon Secimnee and men held kr a custonw at JONA& are graected by &PC up to $922.000 pm customer which includes up do GI02000 of pared= Ice caah &PC dorm not Noted aeons, tosses trcenikartualcos in the volutes/tea secuntos Moats hold in custody by JPMorgan Chem Sank NA (the tank? ago not sublect to S'PC YOumeyeNtain arlermilton about Sher. velialeng the &PC &West Mt their +seam% at 'Own sr Ng' a by COnteCtog them • I (2022371-8300 To me extent oppiestsber p.basented Me Wang dectauros regardayestamerked annueencatte (EAreurd estimated yard (EY)EAl end EY& certain types of moats could note& a return or iv groped a capita/gem in next case Me EA, and E Y nand be overstated EN and Liam imamate, and the actualised& and mold nyht be biker or highs than me estineded armrests EY/enacts only the incense gem med& an imestment ltdoes not telloCIChanged n itS pros nisch may fluctuate J P %Cy& &few ites Inc.JPIACcson Chase Bank NA. a Met OMAN.* (the 'J P &yen Campton**, may prOvne•davneestive. CiatOder fl ea dutnOutco a sMvehOitlerseneses /0 JP:Wigan Funds American Century Funds a funds reddish& sp&SOrtitt advised cc ~aged by twd Wass and the JP Morgan Companies may be compensated fce such SeNceS Explanation of JPAIS1 Amens,: J P Magan uses the Mammy rating system. Overweight Orr Me nett six to Merre Maar we expect Mro stock we MApeolam me eve/ age AVM Wan Of the abuts n the anllysda (Cr Me slots leam'slCarodgeuneartie Neutral: Ore me neat so I o &she mom% we *meet *us stock wel polo& in Aro we, ono range ANNWarn of The stocks in the analyst's (or t h e onalystk teams) canny* waters. Undenvelght our the newt ex to Mole nnerMs, we expect the dock sal medal:edam Me engage Met reNn or Me stocks nth.> &skies for the arsoysts hams) cower unwerSe Independent Res wen Ronny: JPMSI does not endorser olive-ors* adopt the IndeperclonfReseardiProodemasareharelee manse Odfanadarms mem array° I rams harms as well as heasekattos systems to decade Mar mconmendatons 'PSIS/ uses a -miatveralvys system as described elXnee tRPs may use a dAnnentiaanda system such as as en 1.040AderiebnaS system and use soul isms ea lire. -nor cser &nos VelobWand 'atedute-i stings systems are fundamenwmaterant you shone seed oar era% rho dohnoons of at/ to gs used in the JPMSI and IRPrasaercnthat as inclined an the nMearal LSO Foe ems reason and since the research 000100.11 Ile base Mme tonnes as wee as corniest* information &oncoming the analysts vets you should rood oartiruy the macaroni& not adores contents from the rating akne Bane products and sauces we offered though JPMorgan Chase Bonk. NA and es addelos Se:atm eye offered by JP Morgan Securities Inc Page 32 of 32 Confidential Treatment Requested by JPMorgan Chase CONFIDENTIAL JPM-SDNY-00047127 SDNY_GM_00316325 EFTA01519823