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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
51. Tel: + 91 22 7180 4444. It is registered by the Securities and Exchange Board of India (SEBI) as a Stock broker bearing registration nos.: NSE (Capital Market Segment) - INB231196834, NSE (F&O Segment) INF231196834, NSE (Currency Derivatives Segment) INE231196834, BSE (Capital Market Segment) INB011196830; Merchan
-month forecast period.. 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: This report is issued by Deutsche Bank AG, Singapore Branch or Deutsche Se
51. Tel: + 91 22 7180 4444. It is registered by the Securities and Exchange Board of India (SEBI) as a Stock broker bearing registration nos.: NSE (Capital Market Segment) - INB231196834, NSE (F&O Segment) INF231196834, NSE (Currency Derivatives Segment) INE231196834. BSE (Capital Market Segment) INB011196830; Merchan
with issuer companies. 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
051. Tel: + 91 22 7180 4444. It is registered by the Securities and Exchange Board of India (SEBI) as a Stock broker bearing registration nos.: NSE (Capital Market Segment) - INB231 196834, NSE (F&O Segment) INF231196834. NSE (Currency Derivatives Segment) INE231196834, BSE (Capital Market Segment) 1NB011196830; Mercha
8 Semiconductors Intel 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
051. Tel: + 91 22 7180 4444. It is registered by the Securities and Exchange Board of India (SEW) as a Stock broker bearing registration nos.: NSE (Capital Market Segment) - INB231196834, NSE (F&O Segment) INF231196834, NSE (Currency Derivatives Segment) INE231196834, BSE (Capital Market Segment) INB011196830; Merchan
: Still Fuel in the Tank 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
51. Tel: + 91 22 7180 4444. It is registered by the Securities and Exchange Board of India (SEBI) as a Stock broker bearing registration nos.: NSE (Capital Market Segment) - INB231196834, NSE (F&O Segment) INF231196834, NSE (Currency Derivatives Segment) INE231196834, BSE (Capital Market Segment) INB011196830; Merchan
ing U.S. Transportation 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
51. Tel: + 91 22 7180 4444. It is registered by the Securities and Exchange Board of India (SEBI) as a Stock broker bearing registration nos.: NSE (Capital Market Segment) - INB231196834, NSE (F&O Segment) INF231196834, NSE (Currency Derivatives Segment) INE231196834, BSE (Capital Market Segment) INB011196830; Merchan
Entities connected to both the Federal Republic of Germany and Capital Market Segment

Deutsche Bank
ORGANIZATION
Frankfurt
LOCATIONBaFin
ORGANIZATIONthe Kanto Local Finance Bureau
ORGANIZATIONDeutsche Securities Inc.(DSI
ORGANIZATION
United Kingdom
LOCATIONDeutsche Bank AG Johannesburg
ORGANIZATIONthe Prudential Regulation Authority
ORGANIZATIONThe Financial Futures Association of Japan
ORGANIZATION
South Africa
LOCATIONDeutsche Bank Securities Incorporated
ORGANIZATIONDeutsche Bank Securities Inc.
ORGANIZATIONNippon
ORGANIZATION
Moody's
ORGANIZATIONStandard & Poor's
ORGANIZATIONthe European Central Bank
ORGANIZATIONDeutsche Equities India Private Limited
ORGANIZATIONDEIPL
ORGANIZATIONG Block
PERSONF&O Segment
ORGANIZATION