_{JPMorgan Chase Bank, N.A., organized under the laws of U.S.A. with limited liability, is regulated by the Office of the Comptroller of the Currency in the U.S.A., as well as the regulations of the countries in which it or its affiliates undertake regulated activities. For additional regulatory disclosures regarding J.P. Morgan entities, please consult: www.jpmorgan.com/disclosures. These materials have been prepared exclusively for the internal use of the J.P. Morgan’s clients and prospective client to whom it is addressed (including the clients’ affiliates, the “Company”) in order to assist the Company in evaluating, on a preliminary basis, certain products or services that may be provided by J.P. Morgan. These materials have been provided for discussion purposes only and are incomplete without reference to, and should be viewed solely in conjunction with, the oral briefing provided by J.P. Morgan. These materials may not be disclosed, published, disseminated or used for anyother purpose without the prior written consent of J.P. Morgan. If the recipient of this communication is in Switzerland, the information provided in this document is for information purposes only and does not constitute an offer, a solicitation, or a recommendation, to purchase any financial instruments. Where applicable, the information provided in this document constitutes an advertisement (within the meaning of art. 69 of the Swiss Financial Services Act (“FinSA”)) for the financial services referred to herein. The statements in this presentation are confidential and proprietary to J.P. Morgan and are not intended to be legally binding. In preparing this presentation, J.P. Morgan has relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources. Neither J.P. Morgan nor any of its directors, officers, employees or agents shall incur any responsibility or liability whatsoever to the Company or any other party in respect of the contents of this document or any matters referred to in, or discussed as a result of, this presentation. J.P. Morgan makes no representations as to the legal, regulatory, tax or accounting implications of the matters referred to in this document. J.P. Morgan may hold a position or act as market maker in the financial instruments of any issuer discussed herein or act as advisor or lender to such issuer. The products and services described in this document are offered by JPMorgan Chase Bank, N.A. or its affiliates subject to applicable laws and regulations and service terms. Not all products and services are available in all locations. Eligibility for particular products and services will be determined by JPMorgan Chase Bank, N.A. and/or its affiliates.}