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March 2018 Saudi Arabia Germany: Approved and/or distributed by Deutsche Bank AG, a joint stock corporation with limited liability incorporated in the Federal Republic of Germany with its principal office in Frankfurt am Main. Deutsche Bank AG is authorized under German Banking Law and is subject to supervision by the Europea
hority. Australia and New Zealand: This research is intended only for 'wholesale clients' within the meaning of the Australian Corporations Act and New Zealand Financial Advisors Act, respectively. Please refer to Australia-specific research disclosures and related information at Where research refers to any particular financial
ments and Exchange Law of Japan. Korea: Distributed by Deutsche Securities Korea Co. South Africa: Deutsche Bank AG Johannesburg is incorporated in the Federal Republic of Germany (Branch Register Number in South Africa: 1998/003298/10). Singapore: by Deutsche Bank AG, Singapore Branch or Deutsche Securities Asia Limited,
New Zealand: This research, and any access to it, is intended only for "wholesale clients" within the meaning of the Australian Corporations Act and New Zealand Financial Advisors Act respectively. Additional information relative to securities, other financial products or issuers discussed in this report is available upon request
ments and Exchange Law of Japan. Korea: Distributed by Deutsche Securities Korea Co. South Africa: Deutsche Bank AG Johannesburg is incorporated in the Federal Republic of Germany (Branch Register Number in South Africa: 1998/003298/10). Singapore: by Deutsche Bank AG, Singapore Branch or Deutsche Securities Asia Limited,
New Zealand: This research, and any access to it, is intended only for "wholesale clients" within the meaning of the Australian Corporations Act and New Zealand Financial Advisors Act respectively. Additional information relative to securities, other financial products or issuers discussed in this report is available upon request
ments and Exchange Law of Japan. Korea: Distributed by Deutsche Securities Korea Co. South Africa: Deutsche Bank AG Johannesburg is incorporated in the Federal Republic of Germany (Branch Register Number in South Africa: 1998/003298/I0). Singapore: by Deutsche Bank AG, Singapore Branch or Deutsche Securities Asia Limited,
New Zeeland: This research, and any access to it, is intended only for "wholesale clients' within the meaning of the Australian Corporations Act and New Zealand Financial Advisors Act respectively. Additional information relative to securities, other financial products or issuers discussed in this report is available upon request
Entities connected to both the Federal Republic of Germany and New Zealand Financial Advisors Act

Deutsche Bank
ORGANIZATION
Frankfurt
LOCATIONthe Kanto Local Finance Bureau
ORGANIZATIONDeutsche Bank AG Johannesburg
ORGANIZATIONDeutsche Bank Securities Inc.
ORGANIZATIONThe Financial Futures Association of Japan
ORGANIZATION
South Africa
LOCATIONthe Dubai Financial Services Authority
ORGANIZATIONDeutsche Bank AG - DIFC Branch
ORGANIZATION
New Zealand
LOCATIONNippon
ORGANIZATION
Tower
ORGANIZATION
Riyadh
LOCATION
Moody's
ORGANIZATIONStandard & Poor's
ORGANIZATIONthe Qatar Financial Centre
ORGANIZATIONDeutsche Securities Saudi Arabia LLC Company
ORGANIZATIONDeutsche Securities Saudi Arabia
ORGANIZATION
Russia
LOCATIONthe Dubai International Financial Centre
ORGANIZATION