EFTA01447654

David Folkerts-Landau Group Chief Economist Member of the Group Executive Committee Guy Ashton Global Chief Operating Officer Research Michael Spencer Regional Head Asia Pacific Research International locations Deutsche Bard AG Deutsche Bank Place Level 16 Corner of Hunter & Phillip Streets Sydney. NSW 2000 Australia Tel: Prodres.let BCH dr 1.:3 /Yre dee I Great Winchester Street London EC2N 2EO Unpin] Kingdom Tel Global Disclaimer Marcel Cassard Global Head FICC Research & Global Macro Economics Ralt Hoffmann Regional Head Deutsche Bank Research. Germany Deutsche Rani AG Grohs GallusstraBe 10.14 60272 Frankfurt am Main Gorman Tel: firtlIncllne Bank Stv.1:r:Ori 1 60 Wall Street New York, NY 10005 United States of America Tel: 0 I Richard Smith and Steve Pollard Co-Global Heads Equity Research Andreas Neubauer Regional Head Equity Research. Germany Deutsche Rank AG Filiale Hongkong International Commerce Centre, 1 Austin Road West. Kowloon. Hong Kona Tel Steve Pollard Regional Head Americas Research 0untschu Securities hie 2-11.1 Nagalacho Sanno Park Tower Chivocta ku. 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Sadden larch er 0nlAtChip Sandrilre Mn 011.4.4 Singopyre larch orccoao *poi rapometenly to ouch penes, Sr a conerta of ine wen m Amen the rays et Wenn, actor Ogretnnod by Dandy Saran Mc The egormanon COMOma n nos roan des not Olfribtad the renown of 'Mandrel educe In Aunts., Ma.l dent, should cash • copy e/ • Priaci Cocain Swears (PDS) rat" to any arnnsa product raired to en the man and consider the PDS boa abr.. any Mawn abode when*, to ensure de product Douloche Net AG Joharneodep d incorponned in the (isdae Regular ol Gruen/ ttlesern Regal Number in Some ante 1008.00320S/I0) Add..' , 'Maniaon rats** ptµaq ern 10Oran: Product, or mum dalna4.1 on IF.. repro es galate upon ranee Wee noon may not be retroduced. Mangan, or pktoned by any canon for any purpose voollical Dasca (Senr, poor wean amen Pan Me source a/nentarp Coprosho r.,2011Deuncra Bank AG CONFIDENTIAL — PURSUANT TO FED R CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0102341 SDNY_GM_00248525 EFTA01447654