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LPF&S or an affiliate expects to receive or intends to seek compensation for investment banking services from this issuer or an affiliate of the issuer within the next three months: Deutsche Telekom, Enel SpA, Iberdrola, Royal Dtch Shell. LPF&S together with its affiliates beneficially owns one percent or more of the common stock of this issuer. If this report was issued on or after the 9th day of the month, it reflects the ownership position on the last day of the previous month. Reports issued before the 9th day of a month reflect the ownership position at the end of the second month preceding the date of he report: Royal Dtch Shell. LPF&S or one of its affiliates is willing to sell to, or buy from, clients the common equity of the issuer ona principal basis: Deutsche Telekom. The issuer is or was, within the last 12 months, a securities business client (non-investment banking) of MLPF&S and/or one or more of its affiliates: Deutsche Telekom, Enel SpA, Iberdrola, Royal Dtch Shell. 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No security, financial instrument or derivative is suitable for all investors. In some cases, securities and other financial instruments may be difficult to value or sell and reliable information about the value or risks related to the security or financial instrument may be difficult to obtain. Investors should note that income from such securities and other financial instruments, if any, may fluctuate and that price or value of such securities and instruments may rise or fall and, in some cases, investors may Bankof America Merrill Lynch Global Equity Volatility Insights |O6 June 2017 35 HOUSE_OVERSIGHT_023609