EFTA01459759

Deutsche Bank Securities Inc Figure '34 S&P 500 Annual FPS Outloot' by Industry (1 of 2) 15349•458 2016 20054 20366 2007A 20094 20053 20109 2011A 2012A 20134 30146 95 2015E 1* 2015E , 1, 2015E 95 2016E ,i1V (51 %012016 Auto Components 1415 1,523 1077 1)45 329 7,343 3,551 9788 4,507 5137 '. '' 5.330 41% GCS/ • . 5'5, 5.400 5:°. 5,40 I" 5510 95% Autco99352 3412 11.76% 472 993351 66 12,328 12.342 10,860 11,692 9971 ',J 19302 550% 16,725 93,0 15,04 520% 10000 67% 15,203 95% C•anboom 436 472 502 472 383 471 564 642 647 705 )55 701 -05% 746 63% 700 477% 760 71% 750 109% Canatfied COnaintill Services 501 379 379 477 443 916 34 367 CO 419 5% 151 70% 526 165% 450 73% 500 111% 500 100% Nottk.111996e9res it Loewe 7.413 8.14 9.021 9.200 9.475 10.323 11,066 12.006 12.510 121365 •55 13.596 7.4 16.411 134% 13,700 81% 15600 95% 15.000 100% Hoard] Cun3/54 5.406 347 C2.1101 12.5121 12927 1.370 1.964 aeie 5.0/6 4.370 27% 4.864 113% 5.561 242% 4,900 a% 5.400 :24% 5.400 100% Irermn & C9979 614.91 747 626 87 3204 1003 220 2.391 2306 3,036 3457 • 4% 4,434 233% 6,229 425% 4,500 302% 8,000 333% 6,000 100% UMW* Products OW 745 959 661 910 1.015 1395 3207 1223 853 250 917 .5J% 929 137% KO -73% IGO 63% 850 100% Mtdo 12,9/9 15.105 16,991 11.194 13.346 13479 21.905 25.41 27.792 30105 1I I' 3243 54% 36271 71 .1% 32,500 5Th 34,503 62% 32.775 95% Mutime Pal 5,077 Sae SAN 4.294 4.943 0.116 0.605 7.200 6570 7.190 9% 7.196 PI% 7187 119% 7,400 19% 7.900 68% 7930 100% $04.0.4ty Retail 15.020 16.028 14593 ruts 12.120 14.702 16.012 17.305 18.717 20777 no/ 23102 :le% 26.134 222% 29,603 102% 26,092 97% moo 100% 118.7194. Apparel IL Lu.cur Goods 2.198 2,741 3,13) 4300 3,771 3.830 4,023 6340 6,034 6,713 r I% 7,074 54% 7)318 105% 7,200 73% 7,900 63% 7,830 103% • B.,,,nion 10,812 1143 13,227 14.375 14.951 16.374 17.507 17.249 18301 19.44 :% 18,319 .07% 19,156 46% 1940 4 8% 19,003 38% 19,030 13011/ Fool & 8410 114049 10.016 11.813 1342 15267 15.6/4 15,395 17.255 19.506 20314 21.180 4% 21.119 44% 23213 43% 22,0:0 62% 23,500 44% 23.540 100% Food Products 9420 Mel 10.079 10.960 11.910 14996 14.224 12.416 13.3133 14,515 66 14366 .37% 15.177 80% 14,030 .36% 16,600 207% 15.540 100% HaShOld POOduCla 11,120 1340 15,011 15,530 17.277 163174 15.101 14474 17.075 17010 :.... 16159 .56% 15,500 21% 10.933 .59% 18,800 50% 65.40 10)% Naomi Products 251 256 293 222 243 331 484 571 673 933 25. WI .03% 774 137% 700 14% BOO 143% 800 100% 169,6907 11.366 11879 10.051 11.327 10969 11029 13799 14,290 14.542 14.013 4% 13,713 -21% 16434 53% 14,000 -OP% 14,400 29% 14.40) 100% (mew ECtuprigni & Semmes 0.047 1042 14.733 19209 12.790 12.0% 14.912 13903 17.715 20617 ••16 10314 .03% ARGO -546% 10,300 -5239 rv v 7570 NM C.I. Ca• d Connonable F...oli 93.032 103.733 103,991) 122.4" 40.237 92347 114.976 105.41 95.34 91,780 .5% 91:0541 -VS 19.432 -465% 35)324) .619% Caplal Medals 15927 22.54 31674 10.910 16.951 2041 19054 18.0711 23.720 26203 13% 25,757 .17% 20709 11.5% 24,100 0 C4 25,602 :1% 25530 103% 11•44 60.056 715042 4005 117.49 47 5147 % 67.449 73615 05468 , .9 03059 229% 94.750 47% 91,030 779% 07,000 -44% 95.700 110% Coneunuo %nonce 5.510 5.1792 8.332 3.211 2.721 41.427 11.702 12.902 14150 14.428 25. 13.967 .33% 14.74 56% 14440 -.0% 14,500 36% 14.50) 100% D.44441 Finenc41 54444 3.157 3.291 3.49 430 8.019 13.146 11.541 13.778 15.449 17241 •2% 19.339 04% 2142 NI% 11,000 44% 20000 11/11 20.000 ICO% 44464 29.303 51.074 4333 127.0301 21,047 27015 2642 37020 43,856 44,129 • 6 axe .76% 4,533 140% 43.503 -24% 45.000 34% crsis 95% Nal Salo 144/444 Trusts 9.407 10.597 11,190 9307 CM 9,315 12.503 14.946 16627 22027 33'6 23.479 60% 25.043 67% 23,500 /P4 24,500 4.711 24,500 ICA% IPS741 1141 9404 14744444 6 Ornbprw4 ICI V) 429 179 94 203 2•3 345 MO 465 '0% 595 209% 647 141% COD .72% NO 83% 40 100% Ilus11411 514•94;•• Gnanoo 130 144 114 181 108 127 205 251 238 250 /5, 265 29% 290 8.6% )30 161% 300 00% 300 100% 8otethoology 4.927 6.258 7.049 8001 9.213 9940 11,03 12279 14.073 26.032 294 37.470 405% 402122 78% Mae 444% 43,000 217% 43400 100% Kea' Ciin. fonor544. B. Supp445 12579 134) 15.530 17.1391 19.234 29639 22.211 23.342 19.180 20,529 5. 19215 .6" 20812 83% 19,100 .70% 20,300 63% 20.300 100% Het% Caro Gondar* & Sonn,44 12054 15919 19906 15.233 15.922 1006 20,947 22)357 24.960 26.595 /.5. 30295 140% 34420 123% 30.000 (75% 31,500 50% 28.350 90% 144 Care 354449/ 75 93 125 158 177 719 292 334 430 501 029 256% 716 138% OK 197% 700 77% 793 100% LE Stencoo Took & StMObe LIM 1,499 2.315 9593 9211 2.991 9400 9757 3664 4836 ', •5 4102 • 1 3% 5.190 81% MOO .14% 5,000 42% 5.030 100% 4154•4044.444 33.137 4533 42915 46222 45.728 51764 56.001 53.774 4.407 61,522 7'. 013037 74% 71.49 82% SON 77% MAO 55% 03500 100% 53464 C011.075/ float lea Doutathe 35S Afelas 2044899, C 03 Ci, -n cr ..., c c co .> 41_C — S N CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0120426 SDNY_GM_00266610 EFTA01459759