EFTA01462203

• 17.5% average IRR on DB arranged US CLO equity (arranged between 2004 and 1st half 2007) s 130% - 197% of dividends to equity holders Deutsche Bank Corporate Banking & Securities Life to Date Performance of Equity in DB Structured CLOs(1) DB Structured CLO Equity Performance (Based on Current Trading Value of Equity)t~) As of January 31. 2014 35% 30% 25% 24.40% 22.10% re IY - 20% o 12.12% , 15% -J 12.84% 13.37% 22.41% 17.91% 18.97% 17.55% 16.10% 11.22% to% I 8.39% 5 0% 29.65% 6.34% ary if? 1 re 1 3 / 3 3 et et, eft 1 41 ,re," ,p1 AA1 cpc, „eq oa. oz- +61 ce 4# 40 4* CLO Issue Date Source: Intro, CS Trading - As of January 31. 2011. Each bar represents an individual CLO avenged by DB 18 (I) Past performance is not indicative of future results. DB is not making any representation as to the profitability of any financial instrument or economic measure. Assumptions, opinions and °situates expressed constitute our judgment as of the dale of this material and are subject to change without notice. Art investment in this type of transaction may result in the lasso( your entire investment (2) IRAs based on realized cash destribulons to equity plus an assumed sale price at the current equity mark to market CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL SDNY_GM_00270821 DB-SDNY-0 124637 EFTA01462203