EFTA01434482

Subject: RE: RIN Materials - so they're at top of your inbox. [I] From: Vahe Stepanian e > Date: Wed, 11 Apr 2018 17:57:20 -0400 To: Stewart Oldfield e > Classification: For internal use only Cool — so ball is in his court to follow up? Anything we need to do on our end? Best, Vahe From: Stewart Oldfield Sent: Wednesday, April 11, 2018 1:20 PM To: Vahe Stepanian e > Subject: RE: RIN Materials - so they're at top of your inbox. Paul says he will do the work on this. He's trying to sort out whether it is better for him to buy a BB piece of a traditional CLO that yields mid to high single digits but has reasonable secondary market liquidity, or to buy and hold RIN for the long term From: Vahe Stepanian Sent: Tuesday, April 10, 2018 3:57 PM To: Stewart Oldfield e > Subject: FW: RIN Materials - so they're at top of your inbox. From: Vahe Stepanian Sent: Tuesday, April 10, 2018 3:44 PM To: Paul Barrett EFTA01434482 Subject: RIN Materials - so they're at top of your inbox. Thank you, Vahe Vahe Stepanian Key Client Partners Deutsche Bank Securities Inc. Tel. Mobile Email KCP products and services are intended and available only for persons who are sophisticated institutional investors within the meaning of the FINRA Rule 4512(C)(3), and who are capable of evaluating the strategies, characteristics and investment risks of, and exercising independent judgment in evaluating, the ideas and products discussed herein. Trades and transactions are subject to relevant internal approvals of DBSI or its affiliates prior to execution, and the execution of any transaction or idea discussed herein is conditional on your becoming a client of Deutsche Bank. Key Client Partners (KCP) products, investment ideas and solutions and related matters discussed herein are provided for discussion purposes only, and strictly on a non-advisory basis. The KCP Americas desk does not provide investment advice. The information set forth herein is confidential and personal to you and is being presented for your information and for discussion purposes only. Any EFTA01434483 reproduction and/or redistribution thereof (in whole or in part) or disclosure of its content without our written consent is strictly forbidden. This communication does not create any legally binding obligation on the part of DBSI or any of its affiliates. EFTA01434484