I used the exiftool program to see the structure (with -v3 command line key to see details)
It clearly shows this:

| 32) JpgFromRaw (SubDirectory) -->
| - Tag 0x002e (713278 bytes, undef[713278]):
[skip[
--- DOC1:JpgFromRaw --------------------------------------------------------
JPEG APP1 (50684 bytes):
0006: 45 78 69 66 00 00 49 49 2a 00 08 00 00 00 10 00 [Exif..II*.......]
[skip]
ExifByteOrder = II
+ [IFD0 directory with 16 entries]
and 0x004d is within Makernotes pointed by this (JpgFromRaw) EXIF