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s existing longer term ratings. These trade ideas can be found at the SOLAR link at http://gm.db.com. 3. Country-Specific Disclosures Australia and New Zealand: This research, and any access to it. is intended only for 'wholesale clients' within the meaning of the Australian Corporations Act and New Zealand
(known as SOLAR ideas) that are consistent or inconsistent with Deutsche Bank's existing longer term ratings. These trade ideas can be found at the SOLAR link at http://gm.db.com. 3. Country-Specific Disclosures Australia and New Zealand: This research, and any access to it. is intended only for 'who
DB FX Research and RBA Source: DB FX Research and RBA Page 26 Deutsche Bank AG/London EFTA01464521 28 February 2013 Exchange Rate Perspectives New Zealand (NZD bn ) Figure 1: The basic balance Figure 2: FDI flows Source: DB FX Research and Haver Source: DB FX Research and Haver Figure 3: Net Portfo
(known as SOLAR ideas) that are consistent or inconsistent with Deutsche Bank's existing longer term ratings. These trade ideas can be found at the SOLAR link at http://gm.db.com. 3. Country-Specific Disclosures Australia and New Zealand: This research, and any access to it, is intended only for "w
alian specific research disclosures and related information at https://australia.db.com/australia/- content/research-information.html Australia and New Zealand: This research, and any access to it, is intended only for "wholesale clients" within the meaning of the Australian Corporations Act and New Zealan
(known as SOLAR ideas) that are consistent or inconsistent with Deutsche Bank's existing longer term ratings. These trade ideas can be found at the SOLAR link at http://gm.db.com. Research Deutsche Bank [email protected] http://houseview.research.db.com TheHouseView Special — 9 December 2015
Entities connected to both New Zealand and SOLAR

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United Kingdom
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Bloomberg L.P.
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Norway
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Deutsche Bank
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ORGANIZATIONJapan Investment Advisers Association
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LOCATIONDeutsche Bank Securities Inc.
ORGANIZATIONStandard & Poor's
ORGANIZATIONthe Qatar Financial Centre
ORGANIZATIONDeutsche Securities Saudi Arabia LLC Company
ORGANIZATIONDeutsche Securities Saudi Arabia
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ORGANIZATIONthe Kanto Local Finance Bureau
ORGANIZATIONDeutsche Bank AG Johannesburg
ORGANIZATIONAndreas Neubauer
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