EFTA Document EFTA01370445

Investment Process: Due Diligence The Portfolio Advisor has a process for the identification. due diligence and mitigation of risk factors in potential investments that it will seek to employ for the Issuer' Origination Initial Review • Screen and diligence to decide whether to initially pursue or decline a transaction • Assess investment merits including infra sub-sector trends. transaction risks, quality of sponsor management, and potential risk-adjusted return Due Diligence Process Detailed Due Diligence • Analyze industry trends and competitive positioning • Build and stress financial model • Scrutinize structure and covenants • Meet with sponsor and / or management (1) Process shown is indicative and subject to adaptation and change in any particular context Structuring • Focus on key structuring terms that most directly reduce risk and improve recovery scenarios in a default Review legal documentation for terms addressing key credit issues Deutsche Asset Management Infrastructure Debt Presentation March 2018 RIN II Equity Investing and Portfolio Monitoring Formal approval to invest sought from IC Investment Committee and Closing Deal team presents investment analysis and recommendation to Investment Committee • Discuss merits and considerations of potential investment • Consider portfolio construction • Unanimous IC approval required • Make and close investment 34 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0063252 SDNY_GM_00209436 EFTA01370445