EFTA01457087

short TWTR US ly European Calls struck at 100%. Initial strike on both transactions to be commercially reasonable VWAP until today's close. The Initial Margin on these transactions is 30% of Notional. Termsheet and official confirm to follow. Total Return Swap Seller: Swap Buyer: Ticker: Size: Expiry: Spread: Resets: Optional Early Termination: Applicable, 3 days (two-way) Commissions: $0.03 per share in and out Initial Strike: commercially reasonable VWAP until today's close Swap: DB Southern Financial LLC TWTR 100,000 shares 1/27/2016 1mL+ 75bps Monthly European Call options on TWTR: Option Seller: Southern Financial LLC Option Buyer: Notional: Expiry: Strike: Bid: Regards, Daniel DB 100,000 OTC Call 1/27/2016 100% of TRS Initial Strike 18.69% Daniel Sabba Key Client Partners Deutsche Bank Securities Inc. =1. CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 116479 CONFIDENTIAL SDNY_GM_00262663 EFTA01457087