EFTA Document EFTA01462306

Draft KCP - WM Am Sep 2013 YTD performance review and FY2013 Fcst -qYii tT]) Revenues CBVs NNAs ($mm) ($bn) ($mm) mu Revenues CBVs NNAs 2012 2013 A'13 vs. '12 2012 2013 2012 2013 2012 2013F 6,13 vs. '12 2012 2013F 2012 2013F $mm % $mm % WM Americas 19.7 Total USPB 8.6 PCS 11.1 LatAm 0 12.4 4.3 6.6 1.5 (7.3) (4.3) (4.5) 1.5 (37)% (50)% (41)% - 29.7 10 19.7 0 27.3 10.9 14.9 1.5 (2.4) 0.9 (4.8) 1.5 (8)% 9% (24)% - Deutsche Bank WM Amencas Strategy Confidential Source: Aspen, COO Internal Only EFTA01462306 Draft KCP — WM Americas Sept-Dec 2013 Pipeline Pipeline Expected Item Description close date 1 •Ansbacher: Bahamas Loan & CLN -€10M loan & $3m CLN 2 •Spitfire: Equity raise fully subscribed -523.26M 3 ...lay-Bee Oil & Gas: Loan origination -5115M hybrid revolver wf varying terms & commodity hedging 4 •William Comrie: Conduit Loan -528M - Indigo Palms Apt, Phoenix AZ, ETA close when CMBS sells 5 •Goldrich & Kest: Conduit Loan -57.5M - Memphis, ETA close when CMBS sells 6 •Meruelo Group: Grand Sierra Facility -540M loan 7 •Tricon: CRE -5150M 8 •Entrust: Renewal of lines Select Equity & Select Credit Funds -Select Credit LP S5M & Ltd S5M, Select Equity LP $1M & Ltd $7.5M Oct-13 Oct-13 Nov-13 Nov-13 Dec-13 Dec-13 Dec-13 Dec-13 Total Pipeline Key Clients 1 •Epstein / Southern Financial ($180 AuM) In process 2 •Grassie Dynasty Trust, LLC ($20 AuM) In process 3 •Zaro Family / Cavalry >50% 4 •Toms Capital (Noam Gottesman Family Office) >50% 5 •THL Capital (Tom Lee's Family Office) >50% 6 •CSM Capital Corp (Multi-Family Office) 30% 7 •Still Water Trust (Mortimer Sackler Family Office) TBD Total Estimated 2013 Impact NNAs ($mm) Revs ($mm) USPB PCS LatAm Total USPB PCS LatAm Total - - - - - 0.8 - 0.8 - - - - - 1.0 - 1.0 - - - - - 2.0 - 2.0 - - - 0.4 - - 0.4 - - - - 0.1 - 0.1 - - - - 1.0 - 1.0 - - - - - 2.3 - 2.3 - - - - - 3.3 - 3.3 - - - - 1.5 9.4 0 10.9 180 180 1.0 1.0 20 20 0.1 0.1 0.15 0.15 1.0 1.0 0.25 0.25 0.1 0.1 200 - - 200 2.6 - - 2.6 Deutsche Bank WM Americas Strategy Confidential Internal Only 1 EFTA01462307 WIC - WM Am Sep 2013 YTD performance review and FY2013 Fcst Brokerage & Investment Advisory Revenues ($mm) CBVs ($bn) NNAs ($mm) Revenues CBVs NNAs 2012 2013 .1'13 vs. '12 2012 2013 2012 2013 2012 2013F '13 vs. '12 2012 2013F 2012 2013F $mm % $mm % WM Americas Total 16.4 13.4 3.0 16.9 15.4 1.5 0.5 2.0 (1.5) 3% 15% (50)% 22 18 4 24.8 21.8 3 2.8 3.8 (1) 13% 21% (25)% USPB LatAm Deutsche Bank WM Amencas Strategy Confidential Source. GMIS. NetX. COO Internal Only 2 EFTA01462308 Draft WIC - WM Americas Sept-Dec 2013 pipeline Brokerage & Investment Advisory Pipeline Item Description Expected close date Total 1 2 3 •Eisenbeiss — Thematic: Debt Ceiling -$2M S&P Twin-Win •Amidi -5y $63M Fwd starting swap ',Wasserman -5-9y $30M Fwd starting swap 4 •Long Term Solutions -$3M investment in KKR, $2M EEM absolute return note •Golub -Muni and Fixed Income Trading •Schlessel -2y protection SNE CDS •Russell -Sell $1.7M Bond Portfolio 8 •Jaglem Banker Terrence Tangeny -Stock liquidation 10b5-1 ',John Glickman -Referral Trust Group , a/c size $4M, Municipal Bonds 5 6 7 9 10 •Tayebi Brothers -$2M S&P Twin-Win Oct-13 Oct-13 Oct-13 Oct-13 Oct-13 Oct-13 Oct-13 Nov-13 Dec-13 Dec-13 Estimated 2013 Impact NNAs ($mm) Revs ($mm) USPB LatAm Total USPB LatAm Total - 0 0 - - - 0.3 - 0.3 - - - 0.2 - 0.2 - - - 0.01 - 0.01 - - 0.04 - 0.04 - - 0.02 - 0.02 - - - 0.02 - 0.02 - - - 0.07 - 0.07 4.0 4.0 0.04 0.04 0.01 0.01 4.0 - 4.0 0.71 - 0.71 Deutsche Bank WM Americas Strategy Confidential Internal Only 3 EFTA01462309