EFTA01380021

From: Davide-A Sferrazza Sent: 2./11/2019 6:15:14 PM To: 'Richard Kahn' CC: Stewart Oldfield Subject: RE: SF OTC trade on the books ICI Attachments: Pa Southern Financial NPV 11Feb2019.pdf Classification: Confidential Hi Darren and Rich, ; 'Darren Indyke ; Martin Zeman ; Liam Osullivan Please find the attached NPV agreement for the EURUSD forward hedge that was closed on 7 Feb 2019 — this document will need to be signed before DB can settle the cash. The file is password protected, so I will provide the password separately. If you have any questions at all, please do not hesitate to reach out. Regards. Davide Davide Sferrazza Investments & Trading I Institutional Wealth Partners Deutsche Bank Securities Inc. Deutsche Bank Wealth Management 345 Park Avenue, 24th Floor New York. NY. 10154, USA Tel. Mobile Email Visit us: hitp://cicutschewcalth.com #Positivelm pact IWP products and services are intended for and available only to sophisticated. experienced investors who qualify as 'institutional accounts' wider FINRA Rule 4512(c)(3). and are capable of evaluating the investment benefits and risks of. and exercising independent judgment in evaluating and determining whether to enter into, sophisticated trading strategies and financial transactions. Transactions are subject to relevant internal approvals of Deutsche Bank or its affiliates prior to execution, and no transaction, idea or opportunity discussed herein may be executed unless you are a client of Deutsche Bank and of the Institutional Wealth Partners group (IWP). Material herein regarding IWP products, investment ideas and solutions is for cfscussion purposes only. While brokerage services offered through the IWP Americas desk may include investment recommendations and brokerage advice. IWP does not provide investment management or investment advisory services. and private market opportunities and other products and services available through IWP are offered only on a non-advisory basis. This communication is confidential and personal to you, solely for your information and for discussion purposes only, and does not create any legally binding obligation. Reproduction or chstribution of any material herein without our written consent is strictly forbidden. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0078081 CONFIDENTIAL SONY GM_00224265 EFTA01380021