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nformation The asset allocations described herein are formulated by the Regional Investment Committee (RIC) within Deutsche Bank Wealth Management (Deutsche Bank WM) and may utilize the following asset class components: U.S. large cap equity, U.S. small cap equity, Europe equity, Japan equity, Pacific ex-Japan
iliates of Deutsche Bank. "Deutsche Bank" means Deutsche Bank AG and its affiliated companies, as the context requires. Wealth Management refers to Deutsche Bank's wealth management activities for highnet-worth clients around the world. Deutsche Bank Wealth Management 9 EFTA01477954 Growth Tactical alloca
no sales charges and no conflict of interest. Deutsche Bank products are excluded from calculation of the billable assets for advisory fee charge. No Deutsche Bank commission charged on trades. Commission on trades are only charged by the counterparty. Fees are subject to change without notice. Further inform
isor regarding any tax matters addressed herein based on its particular circumstances. All trademarks and service marks on this statement belong to Deutsche Bank AG or its affiliates, except third-party trademarks or service marks, which are the property of their respective owners. "Deutsche Bank" means Deutsc
suitable to implement RIC allocations. These groups use best in class research and the entire know-how of the group to advise best solutions for Multi Asset clients. EFTA01477946 Multi Asset Investment Process The Americas Regional Investment Committee refines asset allocations for clients Multi Ass
nformation The asset allocations described herein are formulated by the Regional Investment Committee (RIC) within Deutsche Bank Wealth Management (Deutsche Bank WM) and may utilize the following asset class components: U.S. large cap equity, U.S. small cap equity, Europe equity, Japan equity, Pacific ex-Japan
iliates of Deutsche Bank. "Deutsche Bank" means Deutsche Bank AG and its affiliated companies, as the context requires. Wealth Management refers to Deutsche Bank's wealth management activities for highnet-worth clients around the world. Deutsche Bank Wealth Management 9 EFTA01478024 Growth Tactical alloca
no sales charges and no conflict of interest. Deutsche Bank products are excluded from calculation of the billable assets for advisory fee charge. No Deutsche Bank commission charged on trades. Commission on trades are only charged by the counterparty. Fees are subject to change without notice. Further inform
isor regarding any tax matters addressed herein based on its particular circumstances. All trademarks and service marks on this statement belong to Deutsche Bank AG or its affiliates, except third-party trademarks or service marks, which are the property of their respective owners. "Deutsche Bank" means Deutsc
suitable to implement RIC allocations. These groups use best in class research and the entire know-how of the group to advise best solutions for Multi Asset clients. EFTA01478016 Multi Asset Investment Process The Americas Regional Investment Committee refines asset allocations for clients Multi Ass
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
Wealth Management For Internal Use Only 5 Cross Asset Class — Alternatives — Commodities — Credit — Currencies — Equities — Fixed Income — Multi Asset — Real Estate EFTA01470768 opportunities across unique asset classes Futures & options Commodities Equities Credit Rates FX Capital Mark
s to exclusive offerings for qualified clients Key Client Partners (KCP) aims to provide selected investors seamless access to the full resources of Deutsche Bank on a non-advised and non-fiduciary basis2 Connectivity — DeAWM — Corporate Banking & Securities — Global Transaction Banking — Research — Third
Companies — Small-Medium Sized Institutions Cross Asset Class — Alternatives — Commodities — Credit — Currencies — Equities — Fixed Income — Multi Asset — Real Estate Cross Border - USA — Latin America — Europe — Asia Pacific Middle East (1) Institutional investors only as defined by FINRA 21
Entities connected to both Deutsche Bank and Multi Asset

Julie K. Brown
PERSON
Paul Morris
PERSON
United States
LOCATIONDeutsche Bank Trust Company Americas
ORGANIZATION
Bloomberg L.P.
ORGANIZATION
Frankfurt
LOCATION
Moody's
ORGANIZATIONDeutsche Asset & Wealth Management
ORGANIZATION
Milan
LOCATION
Baltimore
LOCATION
New Zealand
LOCATION
New York
LOCATIONAlex. Brown
PERSON
New York University
ORGANIZATIONthe Deutsche Bank Group
ORGANIZATION
Norway
LOCATION
Madrid
LOCATION
Denmark
LOCATIONBloomberg Finance LP
ORGANIZATION
Finland
LOCATION