Epstein Secrets

direct, consequential or ethanol:se suffered by the recipient of this document or any ocher person: The views expressed in thrs doctrnmtchsertitute Deutsche Bar* AG ef its affiliates judgment at the time of last and are subject to change is document is only for professional investors. This document was prepared

reproduction and/or redistribution thereof, in whole em in part, and any disclosure of its content without our consent is strictly forbidden" 2016 Deutsche Bank AC; All Mists reserved. (03,164 P.:47670.1 24 U.S Real Estate Strategic Outlook I September 2016 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB

or other documentation relevant €o such products or services in ine U.S., Deutsche Asset Maairge.ment relates to the asset management atthiftles or RREEF America L.L C . In Germany RREEF Investnient GmbH. Deutsche Asset & Wealth Management GmbH. RREEF Management GmbH. and RREEF Spezial invest GmbH. in

direct, consequential or ethanol:se suffered by the recipient of this document or any ocher person: The views expressed in thrs doctrnmtchsertitute Deutsche Bar* AG ef its affiliates judgment at the time of last and are subject to change is document is only for professional investors. This document was prepared

reproduction and/or redistribution thereof, in whole em in part, and any disclosure of its content without our consent is strictly forbidden" 2016 Deutsche Bank AC; All Mists reserved. (03,164 P.:47670.1 24 U.S Real Estate Strategic Outlook I September 2016 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB

or other documentation relevant €o such products or services in ine U.S., Deutsche Asset Maairge.ment relates to the asset management atthiftles or RREEF America L.L C . In Germany RREEF Investnient GmbH. Deutsche Asset & Wealth Management GmbH. RREEF Management GmbH. and RREEF Spezial invest GmbH. in

s of March 31, 2014 (unless noted otherwise) Deutsche Asset & Wealth Management For Internal Use Only 2 EFTA01470764 Wealth Management One of Deutsche Bank's five core businesses Deutsche Bank Private & Business Clients Corporate Banking & Securities Asset & Wealth Management Global Transaction

Total Raise $5mm $25mm $1mm $75mm TBD €660mm TBD $110mm $30mm $30mm Onshore / Offshore Onshore Onshore Both Both TBD Description RREEF fund to acquire and manage a diverse portfolio of energy efficiency retrofits on real estate buildings in North America RIN Ltd. is a newly formed

any other government agency or by Deutsche Bank AG. its affiliates or its subsidiaries The views expressed in this document constitute the Issuers. Deutsche Bar* AG or its affiliates' judgment at the time of issue and are subject to change. This document is only for professional investors. This document was prep

pendent due diligence. No guarantee can be given that the fund concept will be realized at all or as presented herein. The Issuer will be advised by RREEF America LW. Important Information (continued) Deutsche Bank is not providing accounting, tax or legal advice to any prospective investor. No assura

C Infrastructure's due diligence, valuation, and investment efforts for all the assets in PEIF I. Mr. Mackenzie joined the Infrastructure team from Deutsche Bank's corporate and investment banking division where he was a specialist in the transport and infrastructure sector, advising corporate and government cl

nt for DeAM's infrastructure equity business. She also recently assumed the role of Portfolio Manager for DeAM's first European Infrastructure Fund (RREEF Pan-European Infrastructure Fund, L.P., "PEIF"). She is responsible for the investment strategy, asset management and overall performance of the P

any other government agency or by Deutsche Bank AG. its affiliates or its subsidiaries The views expressed in this document constitute the Issuers. Deutsche Bar* AG or its affiliates' judgment at the time of issue and are subject to change. This document is only for professional investors. This document was prep

pendent due diligence. No guarantee can be given that the fund concept will be realized at all or as presented herein. The Issuer will be advised by RREEF America LW. Important Information (continued) Deutsche Bank is not providing accounting, tax or legal advice to any prospective investor. No assura

lowest commission rates available. The Issuer may enter into transactions in loans, securities, derivative instruments or other investments in which Deutsche Bank serves as the counterparty, principal or agent. Deutsche Bank may, from time to time, act as principal for its own account in connection with invest

unts in accordance with its allocation and co-investment policies and procedures (copies of which are available to Investors upon written request to RREEF), and on a basis that the Portfolio Advisor determines in good faith is appropriate taking into consideration such factors as the respective duties

objectives. Conflicts may also arise in cases where the Issuer may make an investment, the proceeds of which are used to liquidate an investment of Deutsche Bank. DDI and DBSI46, affiliates of the Portfolio Advisor, have been appointed by the Issuer as its non-exclusive Placement Agents in connection with th

and may own equity or debt securities or loan interests issued by issuers of and other Obligors on Collateral Obligations. As a result, officers at RREEF that will be advising the Issuer may possess information relating to issuers of Collateral Obligations that is not known to the individuals at the P