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retation and opinions submitted herein are not in the context of. and do not constitute, any appraisal or evaluation activity requiring a license in the Russian Federation. Kingdom of Saudi Arabia: Deutsche Securities Saudi Arabia LLC Company. (registered no. 07073-37) is regulated by the Capital Market Authority. Deu
ealer by the Head of the Kanto Local Finance Bureau (IGnsho) No. 117. Member of associations: JSDA. Type II Financial Instruments Firms Association. The Financial Futures Association of Japan. Japan Investment Advisers Association. This report is not meant to solicit the purchase of specific financial instruments or related services. We
retation and opinions submitted herein are not in the context of, and do not constitute, any appraisal or evaluation activity requiring a license in the Russian Federation. Kingdom of Saudi Arabia: Deutsche Securities Saudi Arabia LLC Company (registered no. 07073-37) is regulated by the Capital Market Authority. Deut
er by the Head of the Kanto Local Finance Bureau (Kinsho) No. 117. Member of associations: JSDA, Type II Financial Instruments Firms Association and The Financial Futures Association of Japan. Commissions and risks involved in stock transactions - for stock transactions, we charge stock commissions and consumption tax by multiplying the
1.5 Czech Republic 1.7 -1.1 0.9 -3.1 -0.8 Hungary 1.6 -12 0.5 -3.5 09 Poland 4.3 2.3 1.81 2.4 11 Romania 2.5 00 0.8 0.5 1$ Russa 4.3 3.6 3.0 3.7 IS Turkey 8.5 2.8 3/ Global 3.0 2.4 2.5 3.0 1.8 Developed markets 1.3 1.2 1.0 1.7 0.4 Emerging markets 6.1 4.
s: JPMorgan Securities Japan Co., Ltd., Kanto Local Finance Bureau (kinsho) No. 82 Participating Association / Japan Securities Dealers Association. The Financial Futures Association of Japan. Type II Financial Instruments Firms Association and Japan Investment Advisers Association. Korn: This report may have been edited or contributed to
Entities connected to both Russia and The Financial Futures Association of Japan

Deutsche Bank
ORGANIZATION
United Kingdom
LOCATION
New Zealand
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Frankfurt
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Malaysia
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United States
LOCATIONthe Prudential Regulation Authority
ORGANIZATIONthe Dubai Financial Services Authority
ORGANIZATIONStandard & Poor's
ORGANIZATIONthe Kanto Local Finance Bureau
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Moody's
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Riyadh
LOCATIONthe Federal Republic of Germany
LOCATIONNippon
ORGANIZATIONDeutsche Securities Saudi Arabia LLC Company
ORGANIZATIONDeutsche Securities Saudi Arabia
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Philippines
LOCATIONBaFin
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South Africa
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Bloomberg L.P.
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