Epstein Secrets

iscussed in this report is available upon request. This report may not be reproduced, distributed or published by any person for any purpose without Deutsche Bank's prior written consent. Please cite source when quoting. Copyright CO 2016 Deutsche Bank AG Page 30 Deutsche Bank AG/London CONFIDENTIAL —

5 February 2016 Focus Europe: Dark clouds. no storm yet not disclosed according to the Financial Instruments and Exchange Law of Japan. Korea: Distributed by Deutsche Securities Kore

of a security that is discussed in this report, or is included or discussed in another communication (oral or written) from a Deutsche Bank analyst, Deutsche Bank may act as principal for its own account or as agent for another person. Deutsche Bank may consider this report in deciding to trade as principal. I

5 February 2016 Focus Europe: Dark clouds. no storm yet Additional Information The information and opinions in this report were prepared by Deutsche Bank AG or one of its affiliates

iscussed in this report is available upon request. This report may not be reproduced, distributed or published by any person for any purpose without Deutsche Bank's prior written consent. Please cite source when quoting. Copyright CO 2016 Deutsche Bank AG Page 30 Deutsche Bank AG/London CONFIDENTIAL —

5 February 2016 Focus Europe: Dark clouds. no storm yet not disclosed according to the Financial Instruments and Exchange Law of Japan. Korea: Distributed by Deutsche Securities Kore

of a security that is discussed in this report, or is included or discussed in another communication (oral or written) from a Deutsche Bank analyst, Deutsche Bank may act as principal for its own account or as agent for another person. Deutsche Bank may consider this report in deciding to trade as principal. I

5 February 2016 Focus Europe: Dark clouds. no storm yet Additional Information The information and opinions in this report were prepared by Deutsche Bank AG or one of its affiliates