EFTA01357903

Deutsche Bank AG e an naup SOUTHERN FINANCIAL, LL R 182298 Aug 15 7717171:zr": 7 177 25Aug 2015 Page 1 Of 3 Fa SalesInquides Contact Daniel Sabba (Tel) For quasbons relating to Nis statement contact Valuations NY (Tel) (Email) SOUTHERN FINANCIAL. LLC To: Jabwcpa Gmail (Erna Richard Kahn12 (Email Mail< Whyman (Email) Hnw Clientservices (Email) h >Amanda Kirby (Email) arm. Paul AlornS (Email) Gedeon Pinedo (Email) Vahe Stepanian (Email) Daniel Sabba (Email) Ariane Dwyer (Email) FX RS* USD/EUR = 8640428565 Note:-All Values are shown from the DB Group's point of view. A negative Value therefore expresses an amount which is in your favour, while a positive amount is one which is in DB Group favour. The terms and conditions of each transaction are specified In the relevant trade Confirmabon. Deutsche Bank Group ("DB") is providing the valuations set forti above as an accommodation to you solely for your own intemal use. Unless expressly stated othenvise, valuations represent DB's current economic assessment of the transaction or instrument as of the date specified. [es economie assessment is typicalty derived all or in part from model pnces. externe' sources, market prices and/or DB's interne' books and records prices. Valuations may be adjusted to take into account market, bquidity, credit, operational or other risks, and/or to reflect adjustments based upon our willingness to unwind all or part of your position or revenue Nat has been generated but not yet recognized by DB ("Premium Adjustments"). Such Premium Adjustments will generally always deebne over time. as DB's appetite to unwind at a premium will generally dedine over time, which will lead to lower valuations in the absence of changes in market conditions. Valuations, including pose containing Premium Adjustments, may not represent the terms at which new transactions or instruments could be entered into wiel DB or the terras at which existing transactions or instruments could be liquidated or unwound wih DB. DB may change its valuation methodology and the related adjustments and assumptions at any time. so Mal future valuations may be less favourable than the current ones, even in the absence of an adverse development in market conditions. Valuations based an ddferent assumptions or calculated using other methodologies may also yield different results and any adjustments may not apply for the duration of the transaction or instrument. Any subsequent valuations provided to you will almost certainly differ from his valuabon. This differente can be less favourable to you. and due to the volatility of market conditions, the size or notional amount of the decrease or increase and other factors. the differential could be substantial. DB shall not be lieble lor any errors or omissions made in calculabng or disseminating valuations. or for any inaccuracies or flaws in the methodologies. adjustments or assumptions. DB specifically disclaims liability for any losses or damages (incidental. consequential or otherwise) hat may arise from valuations hat are either used or relied upon by you or any other party for any reason including, without limitation, your use of valuations in preparabon of your own financial books and records. Statement ID : CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0044897 CONFIDENTIAL SDNY_GM_00191081 EFTA01357903