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comp, but overall demand remains robust. Instagram feedback was notably positive
document IMAGES-003-HOUSE_OVERSIGHT_014909.txt Apr 4, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

comp, but overall demand remains robust. Instagram feedback was notably positive, with many suggesting the demand is additive (not reallocation from core Facebook). Estimates vs Consensus Our 1Q17 and 2Q17 revenue and EBITDA estimates are ahead above the Street. We assume ~800b...

Chart 78: What do you believe will be the structure of the payments industry in 5-7 years?
document IMAGES-002-HOUSE_OVERSIGHT_014367.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Chart 78: What do you believe will be the structure of the payments industry in 5-7 years? 80% 60% 40% 20% 0% Dominated by large Controlled by large Controlled bysavvy Dominated by dynamic incumbent payment incumbent institutions tech companies eco-system of savvy brands en...

Table 12: Selected drivers of Saudi consumer
document IMAGES-003-HOUSE_OVERSIGHT_016138.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Table 12: Selected drivers of Saudi consumer Direction Comment Oil prices Volatile Indirect impact through economic activity and confidence Population growth Decreasing Direct impact through lower number of expatriates and national birth rate Public sector wage growth Flat to co...

2017: a good year for domestic demand
document IMAGES-002-HOUSE_OVERSIGHT_014414.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

2017: a good year for domestic demand Policy tailwinds are only one pillar of our call for Japan’s outperformance in 2017. We also believe the stars are aligning for an organic improvement in domestic demand, which would support the current recovery: the economy is firing on all...

Director | Global Equities
document IMAGES-002-HOUSE_OVERSIGHT_014399.txt Nov 18, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

Amanda Ens Director | Global Equities Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated Japan Investment Strategy Nikkei to 20,000: Inventory cycle upturn — cyclicals; inflation — banks, insurance Investment Strategy 18 November 2016 Key tak...

Pacific) Limited
document Pacific) Limited House Oversight Committee — Epstein Estate Records (Nov 2025)

regulated by the Hong Kong Securities and Futures Commission (HKSFC) and the Hong Kong Monetary Authority (HKMA); Merrill Lynch (Singapore): Merrill Lynch (Singapore)

Merrill Lynch Kingdom of Saudi Arabia Company
document regulated by Comissao de Valores Mobiliarios; Merrill Lynch KSA Company House Oversight Committee — Epstein Estate Records (Nov 2025)

Merrill Lynch Kingdom of Saudi Arabia Company

Fleming was president of Merrill Lynch & Co
document knowledge of the decision said at the time. Before joining Morgan Stanley House Oversight Committee — Epstein Estate Records (Nov 2025)

Fleming was president of Merrill Lynch & Co.