EFTA01462208

Keys for Strategic CLO Equity Investors Investment Goals ■ Desired Tenor / min non call period ■ Desired leverage / risk return profile Portfolio / Structure Selection • Desired borrower base /distribution- broadly syndicated vs. middle market loans ■ Industry and sector allocations ■ Portfolio diversification ■ Manager portfolio management style ■ Ability to reprice and or refinance liabilities Manager Selection ■ Track record of delivering for equity investors ■ Manager reputation with CLO debt investors ■ Manager's experience and skill working within the CLO structure ■ Manager's access to new issue assets ■ Manager's ability to warehouse or work with trading desk to source assets ■ CLOs and strategic investors are important to the manager Deutsche Bank Corporate Banking & Securities 25 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0 124644 SDNY_GM_00270828 EFTA01462208