EFTA01457540

1 May 20I6 Autos & Auto Parts Delphi Automotive ItlistorIcal recommendations and target price: Delphi Automotive (DLPH.N) (as of 4/30/2016) 90 00 8000 70.00 6000 a. 50 00 4000 3000 20 07 10 00 0.00 May12 Aug 12 Nov 12 Feb13 May13 Aug 13 lydy 13 Feb 14 May 14 Aug 14 Nov 14 Feb16 Previous Recommendations Strong Buy Buy Market Perform Underperform Not Rated Suspended Rating Current Recommendations Buy Hold Sell Not Rated Suspended Rating 'New Recommendation Structure as of September 9.2002 1. 01/23/2013: Buy, Target Price Change USD48.00 7. 03/12/2014: Buy, Target Price Change USD90.00 2. 03/15/2013: Buy, Target Price Change USD50.00 8. 10/17/2014: Buy, Target Price Change USD92.00 3. 05/02/2013: Buy. Target Price Chang* USD54.00 9. 01/28/2015: Buy. Target Price Change USD90.00 4. 07/07/2013: Buy. Target Price Change US065.00 10. 02/20/2015: Buy. Target Price Change USD92.00 5. 09/05/2013: Buy, Target Price Change USD66.00 11 04/06/2015: Buy. Target Price Change USD94.00 6. 12/13/2013: Buy, Target Price Change USD75.00 'Equity rating key Buy: Based on a current 12- month view of total share-holder return (TSR = percentage change in share price from current price to projected target price plus pro-jetted dividend yield ) , we recommend that investors buy the stock. Sell: Based on a current 12-month view of total share- holder return, we recommend that investors sell the stock Hold: We take a neutral view on the stock 12-months out and, based on this time horizon, do not recommend either a Buy or Sell. Notes: 1. Newly issued research recommendations and target prices always supersede previously published research. 2. Ratings definitions prior to 27 January, 2007 were: Buy: Expected total return (including dividends) of 10% or more over a 12-month period Hold: Expected total return (including dividends) between -1O% and 1O% over a 12- month period Sell: Expected total return (including dividends) of -10% or worse over a 12-month period Deutsche Bank Securities Inc. Equity rating dispersion and bard- incl 600 500 400 300 200 100 lanonships Buy Hold Sell MCompanies Covered new. w/ Banking Relationship North American Universe Page 9 CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0117122 SDNY_GM_00263306 EFTA01457540