Epstein Secrets

h Rating Hold North America United States Industrials Oil & Gas Exploration & Production Company Pioneer Natural Resources Reuters PXD.N Bloomberg PXD UN Exchange Ticker NYS PXD Laying the Foundation Looking to set the stage into a 2H acceleration With arguably amongst the largest core po

turn (including dividends) of -10% or worse over a 12-month period Deutsche Bank Securities Inc. 100 200 300 400 500 600 0 Buy Hold Sell Companies Covered Cos. w/ Banking Relationship North American Universe 50 % 58 % 44 % 2 %33 % 48 % Page 5 Security Price EFTA01473344 6 May 2015 Oil & Gas Explorat

Deutsche Bank Markets Research Rating Buy North America United States Reuters Health Care Biotechnology RTRX.OQ Bloomberg RTRX US Exchange Ticker NMS RTRX Company Retrophin Agrees to sell PRV for $245M, new TP of $52 Retrophin agrees to sell its PRV to SNY for $

y, Target Price Change USD50.00 Equity rating dispersion and banking relationships 100 200 300 400 500 600 EFTA01473399 0 Buy Hold Sell Companies Covered Cos. w/ Banking Relationship North American Universe 50 % 58 % 44 % 2 %37 % 48 % Jun 14 Sep 14 Dec 14 Mar 15 Buy Hold Sell Not Rated Suspended

0 1 yr 3 year 5 year Source: Deutsche Bank, Bloomberg LP EM relative valuations are not as cheap as th

return (including Equity rating dispersion and banking relationships 1000 1200 1400 1600 200 400 600 800 0 EFTA01466494 Buy Hold Sell Companies Covered Cos. w/ Banking Relationship Global Universe 45 % 40 % 48 % 34 % 6 % 22 % Page 48 Deutsche Bank AG/London EFTA01466495