Epstein Secrets

LP, Barclays, Deutsche Bank Wealth Management. 17 Switzerland Germany France Netherlands Slovakia Finland Austria Belgium Denmark Sweden Luxembourg Lithuania Ireland Italy Spain Slovenia Portugal Malta Latvia Cyprus Total EFTA01477396 Global Fixed Income Combing the Field for Yield

urn (Dec 2016) Footnotes: Macro estimates are according to Deutsche Asset & Wealth Management and are as of November 2015. U.S. GDP is 4Q over 4Q. 1 Current as of January 22, 2016. 2 LTM stands for last twelve months. 3 P/E and EPS forecasts are according to Deutsche Asset & Wealth Management 4 Directi

ionary Portfolio Management At a glance Assets entrusted to us AuM € billion Global Regions 20 Americas 17 EM EA Frankfurt Zurich, Geneva Luxembourg Boston Chicago San Francisco Los Angeles Baltimore London Madrid New York Hong Kong Singapore Retail 2% UHNWI 72% Affluent 6% HNWI

.00% 0.50% 0.00% Footnotes: Macro estimates are according to Deutsche Asset & Wealth Management and are as of March 2016. U.S. GDP is 4Q over 4Q. 1 Current as of March 28, 2016. 2 LTM s td f th 3 P/E d EPS f t ditDthAt&Wlth M t 4 Di ti i i b d i i ld 5 Hi h i ld tands or last twelve months. 3 P/

ionary Portfolio Management At a glance Assets entrusted to us AuM € billion Global Regions 20 Americas 17 EM EA Frankfurt Zurich, Geneva Luxembourg Boston Chicago San Francisco Los Angeles Baltimore London Madrid New York Hong Kong Singapore Retail 2% UHNWI 72% Affluent 6% HNWI

.00% 0.50% 0.00% Footnotes: Macro estimates are according to Deutsche Asset & Wealth Management and are as of March 2016. U.S. GDP is 4Q over 4Q. 1 Current as of March 28, 2016. 2 LTM s td f th 3 P/E d EPS f t ditDthAt&Wlth M t 4 Di ti i i b d i i ld 5 Hi h i ld tands or last twelve months. 3 P/