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e bonds provide exemption from federal tax and depending on your state of residence may be exempt from state and local tax. Income may be subject to the Alternative Minimum Tax. There are additional risks associated with International investing. Deutsche Asset weith Manaf)ely CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6

ll) Tax-Free Average includes all tax- tree and municipal retail and institutional money funds. It consists of funds in the National-Tax-Free Retail, National Tax-Free Institutional, State- Specific Retail, and State-Specific Institutional Categories. Emerging markets may be in transitional or formative stages and thus may be si

e bonds provide exemption from federal tax and depending on your state of residence may be exempf from state and local tax. Income may be subject to the Alternative Minimum Tax. There are additional risks associated with International investing. Deutsche Asset 17 Manaoenc: CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e

ll) Tax-Free Average includes all tax- tree and municipal retail and institutional money funds. It consists of funds in the National-Tax-Free Retail, National Tax-Free Institutional, State- Specific Retail, and State-Specific Institutional Categories. Emerging markets may be in transitional or formative stages and thus may be si

e bonds provide exemption from federal tax and depending on your state of residence may be exempt from state and local tax. Income may be subject to the Alternative Minimum Tax. There are additional risks associated with International investing. Deutsche Asset weith Manaf)eir; CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P.

ll) Tax-Free Average includes all tax- tree and municipal retail and institutional money funds. It consists of funds in the National-Tax-Free Retail, National Tax-Free Institutional, State- Specific Retail, and State-Specific Institutional Categories. Emerging markets may be in transitional or formative stages and thus may be si

bonds provide exemption from federal tax and depending on your state of residence may be exempt from state and local tax. Income may be subject to the Alternative Minimum Tax. There are additional risks associated with International investing. High Yield Fixed Income — Investing in high yield bonds, which tend to be mo

) Tax- Free Average includes all tax-free and municipal retail and institutional money funds. It consists of funds in the National Tax-Free Retail, National Tax-Free Institutional, State-Specific Retail, and State-Specific Institutional categories. Deutsche Bank Wealth Management 27 EFTA01477994 Important information Mu

bonds provide exemption from federal tax and depending on your state of residence may be exempt from state and local tax. Income may be subject to the Alternative Minimum Tax. There are additional risks associated with International investing. High Yield Fixed Income — Investing in high yield bonds, which tend to be mo

) Tax- Free Average includes all tax-free and municipal retail and institutional money funds. It consists of funds in the National Tax-Free Retail, National Tax-Free Institutional, State-Specific Retail, and State-Specific Institutional categories. Deutsche Bank Wealth Management 27 EFTA01478064 Important information Mu