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Other Important Disclosures
document IMAGES-002-HOUSE_OVERSIGHT_014422.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…ts fu person. Investors should seek this report and should understand h Africa): Merrill Lynch jon Authority | Lynch (Asia hority of h Mexico, SA de I Lyne h mited, errill Lynch I Lyne ated KSA Com h by pany, he K to errill ated I Lynch jonal EA nor A I Lynch siness...

Important Disclosures
document IMAGES-007-HOUSE_OVERSIGHT_023094.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…) Limited, regulated by the Australian Securities and Investments Commission; Merrill Lynch (Hong Kong): Merrill Lynch (Asia Pacific) Limited, regulated by the Hong Kong Securities and Futures Commission (HKSFC); Merrill Lynch (Singapore): Merrill Lynch (Singapore) Pte Ltd, regul...

Japan Macro Watch
document TEXT-001-HOUSE_OVERSIGHT_014424.txt Nov 14, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

…) Limited, regulated by the Australian Securities and Investments Commission; Merrill Lynch (Hong Kong): Merrill Lynch (Asia Pacific) Limited, regulated by the Hong Kong Securities and Futures Commission (HKSFC); Merrill Lynch (Singapore): Merrill Lynch (Singapore) Pte Ltd, regul...

Text 001 House Oversight 028336
document TEXT-001-HOUSE_OVERSIGHT_028336.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…has been slow. Paradoxically, one source of change may be China itself, as it looks to win political favor in Southeast Asia. During an official visit this year, Li Keqiang, China’s premier, pledged to build a new expressway from Phnom Penh to Sihanoukville to supplement the Khme...

CAPITAL CHAPTER VI U.S. and International Cannabis Market Estimates
document IMAGES-008-HOUSE_OVERSIGHT_024751.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…obal legal cannabis market in the foreseeable future of more than $300 billion. In our view, most countries located in Asia will take the longest to enact and implement cannabis access laws; therefore, we have not included the markets in countries such as China, with a populatio...

Table 1: Current cross asset trades
document IMAGES-002-HOUSE_OVERSIGHT_014433.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…ng SXDP Index Ronan Carr Equities Long Nikkei Shusuke Yamada Long European index dividend futures James Barty Long MSCI Asia ex-Japan Ajay Kapur Long RTY short SPX 2y variance swap Nitin Saksena 3000-2850 SX5E put spread Dec 16 expiry James Barty Equity vol Long NKY short SPX Dec...

Hour'. (you Americans seek instant gratification — and the converse)
document IMAGES-009-HOUSE_OVERSIGHT_026732.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… heavier, Fifty years ago, world population was about 3 billion. It now exceeds 7 billion. The growth’s been mainly in Asia and Africa, as shown in this map where regions are scaled in proportion to that growth. The number of births per year, worldwide, peaked a few years ago a...

UMB Financial Corp, Wells Fargo, Zions
document IMAGES-002-HOUSE_OVERSIGHT_014394.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…, Russian Federation; arkets Espana, S.ASV., h Africa): Merrill Lynch d the Prudential Regulation Authority | Lynch (Asia ry Authority of h Mexico, SA de errill Lynch he nch Limited, ): Merrill Lynch errill Lynch regulated by KSA Company, lated by the Moneta lores; P Merr...

Citigroup Inc. (C)
document IMAGES-002-HOUSE_OVERSIGHT_014380.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…16E multiple is based on a sum of the parts analysis, where we apply a 10.5x multiple, on all operations ex. Lat Am and Asia GCB. We then apply a 11x multiple on Lat Am and Asia GCB to represent the earnings growth for consumer banking in emerging markets. Lastly, we deduct the e...