EFTA01449211

30 July 2013 Exchange Rate Perspectives: FX and the Financial Transaction Tax Currency Forecasts Industrialized Countries Currency US $ Exchange Rates Spot 3M SM 12M U.S. DB USD Index 70 71 74 76 Euro EURNSD 1.33 1.26 1.20 1.18 (Fwd. Rates) 1.33 1.33 1.33 Japan USD/JPY 98 102 110 112 (Fwd. Rates) - 98 98 98 U.K. GSPMSD 1.53 1.47 1.41 1.40 (Fwd. Rates) • 1.53 1.53 1.53 Canada USD/CAD 1.03 1.00 1.02 1.04 (Fwd. Rates) - 1.03 1.03 1.04 Australia AUDAJSD 0.92 0.98 0.98 0.95 (Fwd. Rates) - 0.91 0.91 0.90 N2. NZD/USD 0.80 0.80 0.80 0.77 (Fwd. Rates) - 0.80 0.79 0.78 Switzerland USD/CHF 0.93 0.99 1.04 1.06 (Fwd. Rates) - 0.93 0.93 0.93 Euro Cross Rates Japan EUR/JPY 130 129 132 132 (Fwd. Rates) 130 130 130 U.K. EUR/GBP 0.86 0.86 0.85 0.84 (Fwd. Rates) 0.86 0.86 0.87 Switzerland EUR/CHF 1.23 1.25 1.25 1.24 (Fwd. Rates) - 1.23 1.23 1.23 Norway EUR/NOK 7.86 7.35 7.25 7.15 (Fwd. Rates) - 7.88 7.91 7.97 Sweden EUR/SEK 8.58 8.25 8.05 8.00 (Fwd. Rates) - 8.60 8.62 8.66 .beat' Oar" Moortaberp Thaw Lit DS /MOM Latin America Currency Spot 3M 6M i2M Argentina USD/ARS 5.49 5.60 5.98 6.62 (Fwd. Rates) - 4.63 4.87 533 Brazil USD/BRL 2.26 2.12 2.15 2.17 (Fwd. Rates) 231 235 2.44 Chile USD/CLP 509 505 502 500 (Fwd. Rates) 516 521 531 Colombia USD/COP 1887 1910 1930 1950 (Fwd. Rates) - 1907 1924 1960 Mexico USD/MXN 12.7 12.6 12.1 11.9 (Fwd. Rates) - 12.8 12.9 13.1 Snot Dainon, Rage; IlbenSerp Mtn Lem twee Deutsche Bank Securities Inc. Asia Currency Spot 3M 6M 12M China USD/CNY 6.13 6.13 6.15 6.07 (Fwd. Rates) 6.17 6.20 625 Hong Kong USDA-IKD 736 7.77 7.80 7.80 (Fwd. Rates) 7.75 7.75 7.75 India USDANR 592 57.0 55.0 55.0 (Fwd. Rates) 60.6 61.8 63.9 Indonesia USDA0R 10278 10500 10500 10000 (Fwd. Rates) - 10723 11000 11412 Malaysia USD/MYR 3.24 3.17 3.15 3.13 (Fwd. Rates) • 3.26 3.27 3.30 Philippines USD/PHP 433 42.6 42.3 413 (Fwd. Rates) 43.3 43.4 43.6 Singapore USD/SG D 1.27 1.27 1.28 1.30 (Fwd. Rates) 1.27 1.27 1.27 South Korea USD/KRW 1112 1130 1120 1130 (Fwd. Rates) 1118 1122 1127 Taiwan USD/1WD 29.9 30.0 29.6 29.7 (Fwd. Rates) 29.9 29.8 29.7 Thailand USD/THB 31.1 30.5 30.0 30.0 (Fwd. Rates) 313 31.4 31.7 San CISISOM Rosen Soombeep ',Moat": De AVOONO !Emerging Europe Currency Spot 3M OM 2M Czech Rep. EUR/CZK 25.9 25.8 25.6 253 (Fwd. Rates) 25.9 25.8 25.8 USD/CZK 19.5 20.5 21.3 21.5 (Fwd. Rates) 19.5 19.5 19.4 Hungary EUR/HUF 299 285 279 275 (Fwd. Rates) 301 304 308 USD/HUF 224 226 233 234 (Fwd. Rates) 227 229 232 Poland EUR/PLN 4.21 4.13 4.00 4.00 (Fwd. Rates) 4.24 4.26 4.31 USD/PLN 3.18 3.28 3.33 3.40 (Fwd. Rates) 3.20 3.21 3.25 Russia USDIRUB 32.8 31.8 31.8 32.0 (Fwd. Rates) 303 30.9 31.5 Turkey USD/FRY 1.92 1.94 1.95 1.98 (Fwd. Rates) 1.96 1.99 2.07 South Africa USD/ZAR 9.78 9.90 9.70 9.50 (Fwd. Rates) 9.90 10.04 10.32 Son Decoosort Ram Sloarteg "ante LP. OS ravens Page CONFIDENTIAL- PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0104516 CONFIDENTIAL SDNY_GM_00250700 EFTA01449211