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t authorized by the BaFin. In the United Kingdom this report is approved and/or communicated by Deutsche Bank AG London, a member EFTA01464476 of the London Stock Exchange and regulated by the Financial Services Authority for the conduct of investment business in the UK and authorized by the BaFin. This report is dist
eas Deutsche Bank equity research analysts sometimes have shorter-term trade ideas (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
l Head of Research Marcel Cassard Global Head CB&S Research Asia-Pacific Fergus Lynch Regional Head International Locations Deutsche Bank AG Deutsche Bank Place Australia Tel: D t iei n n London EC2N 2EQ United Kin dom Tel: Deutsche Bank AG 1rma Tel: .1111111. Deutsche Bank Securities Inc. United S
rector Equity Research North America Steve Pollard Regional Head Global Disclaimer The information and opinions in this report were prepared by Deutsche Bank AG or one of its affiliates (collectively "Deutsche Bank"). The information herein is believed to be reliable and has been obtained from public source
ider this report in deciding to trade on a proprietary basis. Unless governing law provides otherwise, all transactions should be executed through the Deutsche Bank entity in the investor's home jurisdiction. In the U.S. this report is approved and/or distributed by Deutsche Bank Securities Inc., a member of th
nk AG Frankfurt authorized by the BaFin. In the United Kingdom this report is approved and/or communicated by Deutsche Bank AG London, a member of the London Stock Exchange and regulated by the Financial Services Authority for the conduct of investment business in the UK and authorized by the BaFin. This report is dist
eas Deutsche Bank equity research analysts sometimes have shorter-term trade ideas (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
l Head of Research Marcel Cassard Global Head CB&S Research Asia-Pacific Fergus Lynch Regional Head International locations Deutsche Bank AG Deutsche Bank Place Level 16 Corner of Hunter & Phillip Streets Sydney, NSW 2000 Australia Tel: (61) 2 8258 1234 Deutsche Bank AG London 1 Great Winchester Street
rector Equity Research North America Steve Pollard Regional Head Global Disclaimer The information and opinions in this report were prepared by Deutsche Bank AG or one of its affiliates (collectively "Deutsche Bank"). The information herein is believed to be reliable and has been obtained from public source
t in deciding to trade on a EFTA01464586 proprietary basis. Unless governing law provides otherwise, all transactions should be executed through the Deutsche Bank entity in the investor's home jurisdiction. In the U.S. this report is approved and/or distributed by Deutsche Bank Securities Inc., a member of th
nk AG Frankfurt authorized by the BaFin. In the United Kingdom this report is approved and/or communicated by Deutsche Bank AG London, a member of the London Stock Exchange and regulated by the Financial Conduct Authority for the conduct of investment business in the UK and authorized by the BaFin. This report is distr
eas Deutsche Bank equity research analysts sometimes have shorter-term trade ideas (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
y Ashton Global Chief Operating Officer Research Michael Spencer Regional Head Asia Pacific Research International locations Deutsche Bank AG Deutsche Bank Place Level 16 Corner of Hunter & Phillip Streets Sydney, NSW 2000 Australia Tel: (61) 2 8258 1234 Deutsche Bank AG London 1 Great Winchester Street
y Research, Germany Steve Pollard Regional Head Americas Research Global Disclaimer The information and opinions in this report were prepared by Deutsche Bank AG or one of its affiliates (collectively "Deutsche Bank"). The information herein is believed to be reliable and has been obtained from public source
ider this report in deciding to trade on a proprietary basis. Unless governing law provides otherwise, all transactions should be executed through the Deutsche Bank entity in the investor's home jurisdiction. In the U.S. this report is approved and/or distributed by Deutsche Bank Securities Inc., a member of th
t authorized by the BaFin. In the United Kingdom this report is approved and/or communicated by Deutsche Bank AG London, a member EFTA01464411 of the London Stock Exchange and regulated by the Financial Services Authority for the conduct of investment business in the UK and authorized by the BaFin. This report is dist
l Head of Research Marcel Cassard Global Head CB&S Research Asia-Pacific Fergus Lynch Regional Head International Locations Deutsche Bank AG Deutsche Bank Place Australia TDeult:II IIIIIIIIIIII London EC2N 2EQ United Kin dom Tel: Deutsc e an Groge Gallusstrage 10-14 German Tel: Deutsc e an< ecuritie
rector Equity Research North America Steve Pollard Regional Head Global Disclaimer The information and opinions in this report were prepared by Deutsche Bank AG or one of its affiliates (collectively "Deutsche Bank"). The information herein is believed to be reliable and has been obtained from public source
scussed in this report is available upon request. This report may not be reproduced, distributed or published by any person for any purpose without Deutsche Bank's prior written consent. Please cite source when quoting. Copyright 0 2013 Deutsche Bank AG GRCM2013PROD029921 EFTA01464412
ider this report in deciding to trade on a proprietary basis. Unless governing law provides otherwise, all transactions should be executed through the Deutsche Bank entity in the investor's home jurisdiction. In the U.S. this report is approved and/or distributed by Deutsche Bank Securities Inc., a member of th
thority: BaFin - Federal Financial Supervising Authority) and regulated by the Financial Services Authorityfor the conduct of UK business: a member the London Stock Exchange, Deutsche Bank AG is a joint stock corporation 'with limited liability incorporated in the Federal Republic of Germany HRB No. 30 000 District Cour
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agree with the details of this confirmation, please sign and return to fax number This is a computer generated confirmation and does not require a Deutsche Bank AG authorised signature. Deutsche Bank AG is authorised under German Banking Law (competent authority- BaFin - Federal Financial Supervising Authority
thority: BaFin - Federal Financial Supervising Authority) and regulated by the Financial Services Authorityfor the conduct of UK business: a member the London Stock Exchange, Deutsche Bank AG is a joint stock corporation 'with limited liability incorporated in the Federal Republic of Germany HRB No. 30 000 District Cour
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thority and is subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority for the conduct of UK business. Deutsche Bank AG is a joint stock corporation with limited liability incorporated in EFTA01404356 the Federal Republic of Germany HRB No. 30 000 District Court of
thority: BaFin - Federal Financial Supervising Authority) and regulated by the Financial Services Authorityfor the conduct of UK business: a member the London Stock Exchange, Deutsche Bank AG is a joint stock corporation 'with limited liability incorporated in the Federal Republic of Germany HRB No. 30 000 District Cour
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us on If you agree with the details of this confirmation, please sign and return to fax number This is a computer generate and does not require a Deutsche Bank AG authorised signature. Deutsche Bank AG is authorised under German Banking Law (competent authority- BaFin - Federal Financial Supervising Authority
thority: BaFin • Federal Financial Supervising Authority) and regulated by the Financial Services Authority for the conduct of UK business: a member the London Stock Exchange. Deutsche Bank AG is a joint stock corporation with limited liability incorporated in the Federal Republic of Germany HRB No. 30 000 District Court
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thority: BaFin - Federal Financial Supervising Authority) and regulated by the Financial Services Authorityfor the conduct of UK business: a member the London Stock Exchange, Deutsche Bank AG is a joint stock corporation with limited liability incorporated in the Federal Republic of Germany HRB No. 30 000 District Court
thority and is subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority for the conduct of UK business. Deutsche Bank AG is a joint stock corporation with limited liability incorporated in EFTA01404381 the Federal Republic of Germany HRB No. 30 000 District Court of
ni authortry BaFm Federal Fenallaig Supenssing Authority) and regulated by the Fmancaal Services Authonly for the conduct ol IlK bt.siness. a member the London Stock Exchange. Deutsche Bank AG is a pot stock corporation with tinned 'a DIY incorporated in the Federal Repubac of Germany HREI No 30 000 District Court of Fran
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