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Research Analysts Economics Jean-Michel Saliba MENA Economist MLI (UK) +44 20 7995 8568 jean-michel.saliba@baml.com MENA & FM equity Hootan Yazhari, CFA >> Research Analyst Merrill Lynch (DIFC) +971 4 4258218 hootan.yazhari@baml.com Healthcare Jamie Clark, CFA >> Research Analyst MLI (UK) +44 20 7995 1300 jamie.clark@baml.com Chemicals & Mining Faisal AlAzmeh, CFA >> Research Analyst Merrill Lynch KSA Company +966 11 299 3741 faisal.alazmeh@baml.com Real Estate & Consumer Abdelrali El Jattari >> Research Analyst Merrill Lynch (DIFC) +971 4 4258231 abdelrali.eljattari@baml.com Credit Research Ali Dhaloomal Research Analyst MLI (UK) +44 20 7996 9107 ali.dhaloomal@baml.com Commodities Francisco Blanch Commodity & Deriv Strategist MLPF&S +1 646 855 6212 francisco.blanch@baml.com Peter Helles Commodity Strategist MLI (UK) +44 20 7996 8154 peter.helles@baml.com Aerospace, Defence & Satellite Services Celine Fornaro >> Research Analyst MLI (UK) +44 20 7996 5515 celine.fornaro@baml.com Benjamin Heelan >> Research Analyst MLI (UK) +44 20 7996 5723 benjamin.heelan@baml.com Energy Anton Fedotov >> Research Analyst Merrill Lynch (Russia) +7 495 662 6079 anton.a.fedotov@baml.com Trading ideas and investment strategies discussed herein may give rise to significant risk and are not suitable for all investors. Investors should have experience in FX markets and the financial resources to absorb any losses arising from applying these ideas or strategies. >> Employed by anon-US affiliate of MLPF&S and is not registered/qualified as a research analyst under the FINRA rules. Refer to "Other Important Disclosures" for information on certain BofA Merrill Lynch entities that take responsibility for this report in particular jurisdictions. 86 GEMs Paper #26 | 30 June 2016 38 Merrill Lynch HOUSE_OVERSIGHT_016196