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3 risks — reality vs hope, higher yields, politics
document IMAGES-002-HOUSE_OVERSIGHT_014428.txt Nov 14, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

… higher geopolitical risk and defense spending is probably less bearish USD/JPY than Japanese equities. Bankof America Merrill Lynch Japan Macro Watch | 14 November 2016 5 HOUSE_OVERSIGHT_014428

Analyst Certification
document IMAGES-008-HOUSE_OVERSIGHT_026000.txt Aug 9, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

… indirectly, related to the specific recommendations or view expressed in this research report. Bankof America <> ; re Merrill Lynch Global Equity Volatility Insights |09 August 2016 23 HOUSE_OVERSIGHT_026000

Attachments
email TEXT-001-HOUSE_OVERSIGHT_016413.txt Jan 15, 2019 House Oversight Committee — Epstein Estate Records (Nov 2025)

…VERSIGHT 016418 Paul V. Morris Managing Director —The Morris Group Private Banking and Investment Group Bank of America Merrill Lynch One Bryant Park, 28th Floor This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged,...

Zillow (Buy, $42 PO)
document IMAGES-003-HOUSE_OVERSIGHT_014934.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…r rentals and other we estimate $32mn in revenue, up 75% y/y. 48 Internet/e-Commerce | 06 April 2017 Bankof America <2 Merrill Lynch HOUSE_OVERSIGHT_014934

Snap (Neutral, $25 PO)
document IMAGES-003-HOUSE_OVERSIGHT_014920.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…a puts Snapchat minutes per user well above Twitter, but still . Bankof America 34 Internet/e-Commerce | 06 April 2017 Merrill Lynch HOUSE_OVERSIGHT_014920

Alphabet (Buy, $1,025 PO)
document IMAGES-003-HOUSE_OVERSIGHT_014897.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… we think deceleration could persist through 2Q17, after which the y/y growth comps ease considerably. Bankof America Merrill Lynch Internet/e-Commerce | 06 April2017 =—-11 HOUSE_OVERSIGHT_014897

Highest sentiment: FB, WIX, and TREE; Lowest: FIT, TRIP, and TWTR
document IMAGES-003-HOUSE_OVERSIGHT_014895.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… -13% 48 -56% 5% FIT 26% 4% -29% 3.1 NA -271% TRIP 16% 5% -12% 29 -21% 11% TWIR 11% 3% -11% 25 -55% -1% Source: BofA Merrill Lynch Global Research, Bloomberg, as of 4/4/2017 mavilige 2 Internet/e-Commerce | 06 April 2017 9 HOUSE_OVERSIGHT_014895

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

… registered securities dealer under the Financial Instruments and Exchange Act in Japan; is distributed in Hong Kong by Merrill Lynch (Hong Kong)

Iqcustom®
document iQcustom® House Oversight Committee — Epstein Estate Records (Nov 2025)

…base® are registered service marks of Bank of America Corporation. This research report is prepared for the use of BofA Merrill Lynch clients and may not be redistributed

Securities. None Of Mlpf&S
document securities. None of MLPF&S House Oversight Committee — Epstein Estate Records (Nov 2025)

… research analysts has any authority whatsoever to make any representation or warranty on behalf of the issuer(s). BofA Merrill Lynch