Global Investment Opportunities Group Account Position and MTM Summary (Open Positions) Global Investment Opportunities MAL. 2B OUR ea ed GBPUSD EBURUSD USDTRY * Manual Pricing via JPMorgan Investment Bank as of prior day interest Entry Price ($) Current Price ($) MT™ ($83,300) ($64,200) Trade Date Maturity Face Amount Long Description Cost Basis ($) Market Value ($) Received $916,700 Er J $91.67 $935,800 ($1,000,000) ($1,000,000) HSBC BRL Step Up - 85% Barrier - 5% Cpn - 28.5% Mxrtrn, initial Strike 1.9619 HSBC BRL Step Up - 85% Barrier - 5% Cpn - 28.5% Mxrtrn, Initial Strike 2.0035 2-Mart4 2-Aprt4 13-Mar-13 S-Apr-t3 1,000,000 1,000,000 ($147,500.00) ($2,000,000) $1,852,500 Structured Notes MTM international Fixed Income * intraday Pricing via Bloomberg Total Int. Yield to Worst ENttY Price Current Price memes Accrued ($) (Local) (Local) $21,250 . 95.15 $19,597 95.15 Principal Cost ($) Market Value ($) $951,500 $951,500 Trade Date Maturity Face Amount Issue S&P Rating Currency Coupon ($27,250) ($1,000,000) ($13,903) ($985,000) Petroleos De Venezuela $ Petroleos De Venezuela $ 28-Feb-1323 O2-Now2017 &-Mar-13 02-Now2017 1,000,000 1,000,000 international Fixed income MTM ($1,985,000) $1,903,000 ($41,152.78) 2013 Closed P/L Open MTM + 2013 Closed PiL Performance Snapshot MTM Snapshot EQ/LO $0 $471 $471 FL SP ($188,653) ($6,398) ($195,050) 2012 EOY Open MTM so $0 $0 $0 Current Open MTM ($188,653) ME / ST $0 $0 $0 Derivative $0 $0 $0 YTD Change in Open MTM ($188,653) Alternative $0 $0 $0 2013 Closed PIL ($5,927) Other / Miscellaneous $0 $0 $0 tals (5788,653) $5,927) 15194,579) 2013 Net Performance ($194,579) {© 2013 JPMorgan Chase & Co. EFTA00616079

--=PAGE_BREAK=--

Global Investment Opportunities Group J.P. Morgan Securities LLC. Account Position and MTM Summary (2013 Closed Positions) Dividend Yield Entry Price Closing Price (Local) (Local) Trade Date Symbol Shares Company Currency Industry Cost Basis (S$) Market Value ($) Closing Date 19-Mar-13 Holly Energy Partners Lp Energy ($163,200) $160,101 ($3,099) 20-Mar-13 MODN 900 Model N inc uso Technology 0.00% ($13,950) $18,234 20-Mar-13 15.50 20.26 $4,284 20-Mar-13 HE 4,000 Hawaiian Electric Inds USD Utilities 474% ($107,000) $107,398 20-Mar-13 26.75 26.85 $398 21-Mar-13 ENTA 400 Enanta Pharmaceuticals inc USD wmsumer, Non-cyclic = 0.00% ($5,600) $6,324 21-Mar-13 14.00 15.81 $724 22-Mar-13 GPK 3,000 Graphic Packaging Holding Cc uso industrial 0.00% ($21,000) $21,210 22-Mar-13 7.00 7.07 $210 26-Mar-13 camT 3,000 Calumet Specialty Products uso Energy 7.96% ($112,500) $111,178 26-Mar-13 37.50 37.06 ($1,322) 28-Mar-13 TUMI 2,000 Turi Holdings inc uso onsumer, Non-cyclic 0.00% ($42,200) $41,899 28-Mar-13 21.10 20.95 ($301) 23-Apr-13 ARCO 3,500 Ares Capital Corp uso Financial Ba7% ($61,635) $61,214 BApr-13 17.61 17.49 ($421) Equity P/L Equity Syndicate P/L Listed Preferreds Trade Date Maturity Shares Company S&P Rating Par Amount Coupon _ Principal Cost ($) Market Value (S) Aes Closing Date ark fa car eesay a PIL 15-Mar-13 Perpetual 45,000 Wells Fargo & Company ($1,125,000) $1,121,825 ($3,175) 19-Mar-13 Perpetual 40,000 Citigroup Inc eB $25.00 5.80% ($1,000,000) $996,778 3-Ape-13 25.00 24.92 ($3,222) Listed Preferreds P/L ($6,398) Listed Preferreds Syndicate P/L ($6,398) Total 2013 P/L ($5,927) {C) 2043 JPMorgan Chase & Co. EFTA00616080

--=PAGE_BREAK=--

Global Investment Opportunities Group Account Position and P/L Summary (Disclaimer) Prepared for Southern Trust as of May 31, 2013 advice, Accordingly, any discussion of U.S, tax matters contained herein {including any attachments) is not intended or written to be used, and cannot be used, im connection with the promotion, marketing or recommendation by anyone unaffiliated with JPMorgan Chase & Co. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties. Each recipient of this presentation, and each agent thereof, may disclose to any person, without limitation, the US. income and franchise tax treatment and tax structure of the transactions described herein and may disclose all materials of any kind Ginduding opinions of other tax analyses) provided to each recipient insofar as the materisis relete to 4 U.S. income or franchise tax strategy provided to such recipient by J.P.Morgan Chase & Co. and its subsidiaries. Bank products and services are offered by J.P. Morgan Chase Bank, NA. and its affiliates. Securities products and services are offered by J.P. Morgan Securities LLC, member NYSE, FINRA and SIPC. J.P. Morgan Seaurities LLC ts an affiliate of J.P. Margan Chase Bank, NA. and other affiliates globally a5 local legislation permits. FDIC insurance and domestic deposit preference are not applicable to deposits or other obligations of our bank branches or banking affiliates outside the United States. In the United Kingdom, this material Is approved by J.P. Morgan International Bank Limited UPMIB) with the registered office located at 125 London Wall EC2Y 5AJ, registered in England No, 03838766 and is authorised and regulated by the Financial Services Authority. In addition, this material may be distributed by: J.P. Morgan Chase Bank, NA. (IPMCE) Paris branch, which is regulated by the French banking authorities Autorité de Controle Prudentie! and Autorité des Marchés Financiers; J.P. Morgan (Suisse) SA, regulated by the Swiss Financial Market Supervisory Authority; JOMCB Dubai branch, regulated by the Dubai Financial Services Authority; JPMCB Bahrain branch, licensed as 2 conventional wholesale bank by the Central Bank of Bahrain (for professional clients onlyk: JPMCB Hong Kong branch, regulated by the Hong Kong Monetary Authority and JPMCB Singapore branch, regulated by the Monetary Authority of Singapore. This material |s not intended as an offer or solicitation for the purchase or sale of any financial instrument. J.P. Morgan Securities LLC or its brokerage affiliates may hold 6 pasition or act as market maker in the financial instruments of any Issuer discussed herein or act as an underwriter, placement agent, advisor or bender to such issuer. The views and Strategies described herein may not be suitable for all investors. The discussion of loans or other extensions of credit in this material is for illustrative purposes only, No commitment to fend should be construed o¢ implied. Thés material Is distributed with the understanding that we are not rendering accounting, legal or tax advice. Estate planning requires legal assistance. You should corsult with your independent advisors concerning such matters, We believe the information contained in this material to be refiable but do not warrant its accuracy or completeness. Opinions, estimates, and irnwestment strategies and views ‘expressed herein may differ from the opimions expressed by other areas of LP. Morgan, including research. The irwestment strategies and views stated here may differ from those expressed for other purposes or in other contexts by other J.P. Morgan market strategists. LP Morgan Securities LLC may act as a market maker relevant to structured products or option products and may engage in hedging or other operations in such markets relevant to its structured products or options expasures. Structured products and options are nat insured by the Federal Deposit insurance Corporation (FDIC), the Federal Reserve Board, or any other governmental ogency. In discussion of options and other strategies, results and risks are based solely on hypothetical examples cited; actual results and risks will vary depending on specific circumstances. Investors are urged to consider carefully whether option or option-related products in general, as well as the products of strategies discussed herein are suitable to thelr needs. in actual transactions, the client's counterparty for OTC derivatives applications ts JPMorgan Chase Bank, N.A, London branch. For a copy of the "Characteristics and Risks of Standardized Options” booklet, please contact your J.P, Morgan Advisor, Real estate, hedge funds, and ather privete investments may not be suitable for all individual Investors, may prevent significant risks, and may be sold or redeemed at more or less than the original amount inwested. Private investments are offered only by offering memoranda, which more fully describe the possible risks. There are no assurances that the stated investment objectives of any investment product will be met. Hedge funds (or funds of hedge funds): often engage in leveraging and other speculative investment practices that may increase the risk of investment Joss; can be highly illiquid: are not required to provide periodic pricing or valuation information to inwestors; may involve comples tax structures and delays in distributing important tax information; are not subject to the same regulatory requirements as mutual funds; and often charge high fees. Further, any number of contlicts of interest may exist in the context of the management andior operation of any hedge fund in the US, JP. Morgan Mutual Funds are distributed by J.P. Morgan Distribution Services, Inc. which is an affiliate of 1.?.Morgan Chase & Co. Affiliates of J.P. Morgan Chase & Co. receive fees for providing various services to the funds. Call J.P.Morgan Distribution Services at 1-800-480- 4111 of visit weve J.P. Morganfunds.com for the prospectus, Investors should carefully consider the investment objectives, risks, charges and expenses of the mutual funds before investing. The prospectus contains this and other information about the mutual fund and should be read carefully before investing. As applicable, portions of mutual fund performance information may be provided by Lipper, # Reuters company, subject to the fallowing: © 2012 Reuters. All rights reserved. Any copying, republication of redistribution of Lipper content, including by caching, framing or sienilar meses, is ‘expressly prohibited without the prior written consent of Lipper. Lipper shall not be lisble for any errors cr delays in the content, or for any actions taken in reliance thereon. Past performance i not 2 reiable indicator of comparable future returns and investors may get INOT AN OFFICIAL CONFIRMATION |For nformational purposes only. This report dees not represent an official account of the holdings. balances. or transactions made in your account and is being provided at your request. Please refer to your monthly account statement for the ctticlal record at all of your account jactivities. For question. please cal your J.P. Morgan represertative, The following is being provided for informational purposes only andor in response to your request. Information contained in this message and any accompanying documentation, including but not Imited to any research, market valuations, stalements, confirmations, calculations Jor estimates, ts bolleved to be retable, but we do not warrant fs completeness of accuracy. Opinions and estimates constitute our judgment and are subject to change without notice. Past pertormance is not indicative of future results. This material is not intended as an atfer cr /sollctation for the purchase or sale of any financial instrument. The broker-dealers and/or their attilates and employees may hold a position or act as market maker in the financial instruments of any lssuer discussed herein or act as underwniter, placement agent, advisor or lerxder to such lever. Valuations provided reflect price estimates on the date(s) specified |Athough information in these documents has boon obtained tram sources belleved to be reliable, JPMorgan Chase & Co. and its aftliates do net guarantee Its accuracy cr completeness and accept no liabilty tor any direct or consequential lasses arising from its use. This Information ts for the sole use of the person to whom it is addressed, and may be privileged and confidential. Any use, distribution, or duplication by anyone other than the addressee is prohibited. It you raceive this in error, ploase notty the sender immodiately and retuen it by mai, (C) 2013 Morgan Chase & Co. EFTA00616081