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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
) Tax- Free Average includes all tax-free and municipal retail and institutional money funds. It consists of funds in the National Tax-Free Retail, National Tax-Free Institutional, State-Specific Retail, and State-Specific Institutional categories. Deutsche Bank Wealth Management 27 EFTA01477994 Important information Mu
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
) Tax- Free Average includes all tax-free and municipal retail and institutional money funds. It consists of funds in the National Tax-Free Retail, National Tax-Free Institutional, State-Specific Retail, and State-Specific Institutional categories. Deutsche Bank Wealth Management 27 EFTA01478064 Important information Mu
from state and local tax. Income may be subject to the Alternative Minimum Tax. There are additional risks associated with International investing. Deutsche Asset weith Manaf)eir; CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0083483 CONFIDENTIAL SDNY_GM_00229667 EFTA01383699
ll) Tax-Free Average includes all tax- tree and municipal retail and institutional money funds. It consists of funds in the National-Tax-Free Retail, National Tax-Free Institutional, State- Specific Retail, and State-Specific Institutional Categories. Emerging markets may be in transitional or formative stages and thus may be si
from state and local tax. Income may be subject to the Alternative Minimum Tax. There are additional risks associated with International investing. Deutsche Asset weith Manaf)ely CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0050077 CONFIDENTIAL SDNY_GM_00196261 EFTA01361150
ll) Tax-Free Average includes all tax- tree and municipal retail and institutional money funds. It consists of funds in the National-Tax-Free Retail, National Tax-Free Institutional, State- Specific Retail, and State-Specific Institutional Categories. Emerging markets may be in transitional or formative stages and thus may be si
from state and local tax. Income may be subject to the Alternative Minimum Tax. There are additional risks associated with International investing. Deutsche Asset 17 Manaoenc: CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0059493 CONFIDENTIAL SDNY_GM_00205677 EFTA01367869
ll) Tax-Free Average includes all tax- tree and municipal retail and institutional money funds. It consists of funds in the National-Tax-Free Retail, National Tax-Free Institutional, State- Specific Retail, and State-Specific Institutional Categories. Emerging markets may be in transitional or formative stages and thus may be si
Entities connected to both Deutsche Asset & Wealth Management and National Tax-Free Institutional

Paul Morris
PERSON
Deutsche Bank
ORGANIZATION
Bloomberg L.P.
ORGANIZATIONDeutsche Bank Trust Company Americas
ORGANIZATION
United States
LOCATION
Frankfurt
LOCATION
New York University
ORGANIZATION
United Kingdom
LOCATIONJoseph Dursi
PERSON
Julie K. Brown
PERSONThe iMoneyNet Money Funds
ORGANIZATION
Finland
LOCATION
Denmark
LOCATION
Norway
LOCATION
New Zealand
LOCATIONBloomberg Finance LP
ORGANIZATION
Moody's
ORGANIZATIONLarry Adam
PERSONTreasury Inflation Protected Securities
ORGANIZATIONthe Deutsche Bank Group
ORGANIZATION