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JPMorgan and ToigoTalks present:

INVESTMENT BANKING 101

A ToigoTalks series offered byThe Robert Toigo Foundation

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BIO: CHAKANA FOWLER

Chakana Fowler is an Associate at JPMorgan in theSyndicated & Leveraged Finance group within theInvestment Bank. Prior to attending business schoolat Columbia University, Chakana was in Fixed Incomeresearch at Morgan Stanley and was a math teacherin New York City public schools. She serves as amentor for at-risk high school girls via StudentSponsor Partners.

Ms. Fowler has a BA in accounting from University ofMiami, an MS in Mathematics Education from CityCollege and an MBA from Columbia University whereshe was a Toigo Fellow.

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What is investment banking?

Working as an investment banking Analyst

AGENDA

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INTERMEDIARIES BETWEENPROVIDERS AND USERS OF CAPITAL

Mutual funds401(k) fundsVenture capital firmsPrivate equityfunds/LBO shopsHedge fundsCorporationsGovernmentsIndividuals

Providers of capital Users of capital

Corporations– Public and private

GovernmentsPublic sector– Schools– Hospitals

Multilateral institutions– World Bank– IMF

The key: INFORMATION

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Marketing – “Pitching”

JPMorgan approaches Pernod Ricardwith materials proposing the sale ofDunkin Brands, parent company ofDunkin Donuts, Baskin Robbins andTogo’s Great Sandwiches

The proposition is that Pernod Ricardcould make a good return by sellingthe Company

Mandate Sale process Closing the dealMarketing

Engagement – “Mandate”

Pernod Ricard selects JPMorgan,based on credentials and agreedupon fees, to represent theirfinancial interest and advise inthe sale of Dunkin Brands

JPMorgan then legally representsand is obligated to get the bestpossible deal for PernodRicard shareholders

Sale process

Escorts potential buyers to visitboth established and emergingmarkets for Dunkin Brands

Provides strategic and financialinformation to potential buyers toaid in the sale process

Keeps the identity of potentialbidders confidential to preserve theintegrity of the process, and ensurethe best deal for shareholders

“Closing the deal”

JPMorgan advises the client onthe best of the available biddersand orchestrates the terms of thedeal

After various stages ofnegotiation, potential regulatoryapprovals and attorney review,the deal officially is announced

EXAMPLE OF A BANKING DEAL

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INVESTMENT BANKING

Coverage groups

Prod

uct g

roup

s

Financial

institutions Energy

Consumer,

healthcare & retail

Real

estate

Technology,

media & telecom

Diversified industrials

Financial

sponsors

M&A

Debt

Equity

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InfluentialInterestingRewardingHard workCompetitiveChanging

INVESTMENT BANKING IS…

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WHY JPMORGAN?

You might be attracted to JPMorgan’s prestigiousreputation, but you will stay because of the work,people, and resources dedicated to your careerdevelopment

JPMorgan offers undergraduates a platform ofresources that separate us from the rest of Wall Street– Top-ranked internship opportunities– Intensive Global Analyst Training Program

– 1-week Boot Camp– 7-week skill-building and product training– “From-the-line” Instructors & Tutors– Global network that will benefit you for the rest of

your career– Junior/Senior mentor during summer internship– Experienced junior network during training program

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People want to make adifference

Opportunities to performglobally

Client exposure from the start

Senior management interaction

Work on innovative solutions

Constant deal flow and variety

Leverage vast capabilities and scale

On the job, real-time learning

WORKING ININVESTMENT BANKING

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If you have a question, press the number “7” or letter “Q” on yourtelephone keypad or press the chat symbol in the upper hand left handcorner of the toolbar.

Questions are taken in the order received.

If your question has been answered, press “7” to remove yourself fromthe queue.

If using a speakerphone, pick up the handset when asking your question.

Q&A

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What is investment banking?

Working as an investment banking Analyst

AGENDA

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Work with client executives, product specialists, analysts, legal andcompliance

Perform financial valuation, analysis and financial models

Participate in deal pitches

Conduct industry and product research

JPMORGAN’SANALYST PROGRAMS

JPMorgan Investment Banking Analysts…

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Financial analysis– Building financial models– Projections– Valuation

Client management

Generating ideas – M&Adialogue

Industry research

Capital markets research

Financial and business due diligence

Draft financing documents

Marketing

Deal execution

WHAT DO INVESTMENTBANKING ANALYSTS “DO”?

A standard deal involves one MD, one VP, one Associate and one Analyst…

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The morning: Begins between 8:30 a.m. and 9:30 a.m.– Review work from the night before– Meet with MD, VP and Associate to review and discuss financial

modeling scenarios– Conference call with client of the deal you are working on– Continue to work on financial model or presentation pages

The afternoon/evening/night– Continue with the analytical work– Potentially shift gears to focus on another project– Meet with deal team to structure a new client presentation– Review deliverables for the next day with VP and Analyst team

AN INVESTMENT BANKINGANALYST’S TYPICAL DAY

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Leadership

Organization

Detail orientation

Judgment

Teamwork

Vision

Problem-solvingskills

Results-focusedmindset

Communicationskills

Integrity

Intelligence

Creativity

Resilience

Technical skills

Hard work

Confidence

Curiosity

Drive

Flexibility

Initiative

Motivation

WHAT MAKES A “ROCK STAR”ANALYST?

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FREE ADVICE

Start early

Learn about the markets and the finance industry

Keep current on financial and business news

Think carefully about your options

Keep an open mind

Get to know our people

Take risks

Love what you do

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If you have a question, press the number “7” or letter “Q” on yourtelephone keypad or press the chat symbol in the upper hand left handcorner of the toolbar.

Questions are taken in the order received.

If your question has been answered, press “7” to remove yourself fromthe queue.

If using a speakerphone, pick up the handset when asking your question.

If we are unable to answer your question, please emailinfo@ready-for-finance.com

Q&A

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To see more of Chakana’s experience and what it’s like to workat JPMorgan, check out the videos on

jpmorgan.com/mediazone

FOR A BEHIND-THE-SCENESLOOK…

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Apply by March 15 for JPMorgan’s Launching Leaders Experience,an educational day-in-bank on April 11 for freshmen and sophomores

jpmorgan.com/launchingleaders

HOW TO GET EXPERIENCEIN A DAY…

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jpmorgan.com/careers

LEARN MOREABOUT JPMORGAN

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Stay tuned fornext month’s topic.

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