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nges to 2016 GDP Estimate 7.0% 2.0% 3.0% 4.0% 5.0% 6.0% 0.0% 1.0% U.S. Europe Footnotes: Data as of March 2016. Data as of March Source: Deutsche Asset Management, Deutsche Bank Wealth Management. UK November 2015 Forecast for 2016 GDP Japan China World March 2016 Forecast For 2016 GDP Footnotes: Data as
ome & Cash Municipal Bonds High Yield Bonds Int'l Bonds- Hedged Emerging Market Bonds TIPS Cash Alternatives Hedge Funds Non-directional HF Directional HF Commodities 58.5% 50.5% 2.0% --2.0% 2.0% 2.0% 9.0% 7.0% 5.0% 2.0% 2.0% 100.0% Strategic 32.5% 15.0% 2.0% 11.5% 7.5% 2.5% 1.5% 4
nges to 2016 GDP Estimate 7.0% 2.0% 3.0% 4.0% 5.0% 6.0% 0.0% 1.0% U.S. Europe Footnotes: Data as of March 2016. Data as of March Source: Deutsche Asset Management, Deutsche Bank Wealth Management. UK November 2015 Forecast for 2016 GDP Japan China World March 2016 Forecast For 2016 GDP Footnotes: Data as
ome & Cash Municipal Bonds High Yield Bonds Int'l Bonds- Hedged Emerging Market Bonds TIPS Cash Alternatives Hedge Funds Non-directional HF Directional HF Commodities 58.5% 50.5% 2.0% --2.0% 2.0% 2.0% 9.0% 7.0% 5.0% 2.0% 2.0% 100.0% Strategic 32.5% 15.0% 2.0% 11.5% 7.5% 2.5% 1.5% 4
anies, as the context redciies. Wealth Managernerl refers to Deutsche Banks wealth management acSities for high- net-worth clients around the world. Deutsche Asset e, CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0083467 SDNY_GM_00229651 EFTA01383686
9 0 O U. n'ts 0% b 5% Hedge Funds 7.0% 7.0% 8.5% 8.5% 7.0% 7.0% 6.0% 6.0% Non-directional HF 5.0% 5.0% 4.5% 4.5% 3.0% 3.0% Directional HF 2.0% 2.0% 4.0% 4.0% 4.0% 4.0% 6.0% 6.0% Commodities 2.0% 1.0% 2.0% 1.0% 2.0% 1.0% 2.5% 1.0% 100.0% 100.0% 100.0
anies, as the context redciies. Wealth Managernerl refers to Deutsche Banks wealth management acSities for high- net-worth clients around the world. Deutsche Asset e, CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0087694 SDNY_GM_00233878 EFTA01386133
9 0 O U. n'ts 0% b 5% Hedge Funds 7.0% 7.0% 8.5% 8.5% 7.0% 7.0% 6.0% 6.0% Non-directional HF 5.0% 5.0% 4.5% 4.5% 3.0% 3.0% Directional HF 2.0% 2.0% 4.0% 4.0% 4.0% 4.0% 6.0% 6.0% Commodities 2.0% 1.0% 2.0% 1.0% 2.0% 1.0% 2.5% 1.0% 100.0% 100.0% 100.0
anies, as the context redciies. Wealth Managernerl refers to Deutsche Banks wealth management acSities for high- net-worth clients around the world. Deutsche Asset e, CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0050061 SDNY GM_00196245 EFTA01361141
9 0 O U. n'is 0% b 5% Hedge Funds 7.0% 7.0% 8.5% 8.5% 7.0% 7.0% 6.0% 6.0% Non-directional HF 5.0% 5.0% 4.5% 4.5% 3.0% 3.0% Directional HF 2.0% 2.0% 4.0% 4.0% 4.0% 4.0% 6.0% 6.0% Commodities 2.0% 1.0% 2.0% 1.0% 2.0% 1.0% 2.5% 1.0% 100.0% 100.0% 100.0
ies, as the cortext requees. Wealth Management meters to Deutsche Sant:stye:al/I management activities fir nigh- net-worth clients around the world. Deutsche Asset Wtnith Manaoement 1 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0059477 SDNY_GM_00205661 EFTA01367853
l1 90% 1O5% 9.0% 8.5% Hedge Funds 7.0% 7.0% 8.5% 8.5% 7.0% 7.0% 6.0% 6.0% Non-dlrectional HF 5.0% 5.0% 4.5% 4.5% 3.0% 3.0% Directional HF 2.0% 2.0% 4.0% 4.0% 4.0% 4.0% 6.0% 6.0% Cornmodkies 2.0% 1.0% 2.0% 1.0% 2.0% 1.0% 2.5% 1.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Entities connected to both Deutsche Asset & Wealth Management and Directional HF

Paul Morris
PERSON
Deutsche Bank
ORGANIZATION
Bloomberg L.P.
ORGANIZATIONDeutsche Bank Trust Company Americas
ORGANIZATION
United States
LOCATION
Frankfurt
LOCATION
New York University
ORGANIZATIONTreasury Inflation Protected Securities
ORGANIZATION
Julie K. Brown
PERSONJoseph Dursi
PERSONBloomberg Finance LP
ORGANIZATIONMaximum Growth
ORGANIZATIONLarry Adam
PERSON
Norway
LOCATION
Finland
LOCATION
Denmark
LOCATIONthe Deutsche Bank Group
ORGANIZATION
New Zealand
LOCATION
Michael Bloomberg
PERSONInternational Herald Tribune
ORGANIZATION