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entation. "Moody's", 'Standard & Poor's", and "Fitch" mentioned in this report are not registered credit rating agencies in Japan unless "Japan" or "Nippon" is specifically designated in the name of the entity. Malaysia: Deutsche Bank AG and/or its affiliate(s) may maintain positions in the securities
number - Registered as a financial instruments dealer by the Head of the Kanto Local Finance Bureau (Kinsho) No. 117. Member of associations: JSDA, Type II Financial Instruments Firms Association, The Financial Futures Association of Japan, Japan Investment Advisers Association. This report is not meant to solicit the purchase of specific fi
tuations. "Moody's", "Standard & Poor's", and "Fitch" mentioned in this report are not registered credit rating agencies in Japan unless "Japan" or "Nippon" is specifically designated in the name of the entity. Reports on Japanese listed companies not written by analysts of Deutsche Securities Inc. (DSI
number - Registered as a financial instruments dealer by the Head of the Kanto Local Finance Bureau (Kinship) No. 117. Member of associations: JSDA, Type II Financial Instruments Firms Association, The Financial Futures Association of Japan, Japan Investment Advisers Association. Commissions and risks involved in stock transactions - for stoc
tuations. "Moody's", "Standard & Poor's", and "Fitch" mentioned in this report are not registered credit rating agencies in Japan unless "Japan" or "Nippon" is specifically designated in the name of the entity. Reports on Japanese listed companies not written by analysts of Deutsche Securities Inc. (DSI
number - Registered as a financial instruments dealer by the Head of the Kanto Local Finance Bureau (Kinship) No. 117. Member of associations: JSDA, Type II Financial Instruments Firms Association, The Financial Futures Association of Japan, Japan Investment Advisers Association. Commissions and risks involved in stock transactions - for stoc
umentation. Moody's", "Standard & Poor's", and "Fitch" mentioned in this report are not registered credit rating agencies in Japan unless Japan or "Nippon" is specifically designated in the name of the entity. Reports on Japanese listed companies not written by analysts of DSI are written by Deutsche
.(DSI), registered as a financial instruments dealer by the Head of the Kanto Local Finance Bureau (Kinsho) No. 117. Member of associations: JSDA, Type II Financial Instruments Firms Association, The Financial Futures Association of Japan, and Japan Investment Advisers Association. Commissions and risks involved in stock transactions - for
entation. "Moody's", "Standard & Poor's", and "Fitch" mentioned in this report are not registered credit rating agencies in Japan unless "Japan" or "Nippon" is specifically designated in the name of the entity. Malaysia: Deutsche Bank AG and/or its affiliate(s) may maintain positions in the securities
number - Registered as a financial instruments dealer by the Head of the Kanto Local Finance Bureau (Kinsho) No. 117. Member of associations: JSDA, Type II Financial Instruments Firms Association, The Financial Futures Association of Japan, Japan Investment Advisers Association. This report is not meant to solicit the purchase of specific fi
cumentation. "Moody's", 'Standard & Poor's, and 'Fitch" mentioned in this report are not registered credit rating agencies in Japan unless Japan or "Nippon' is specifically designated in the name of the entity. Reports on Japanese listed companies not written by analysts of DSI are written by Deutsche Ba
number - Registered as a financial instruments dealer by the Head of the Kanto Local Finance Bureau (Kinsho) No. 117. Member of associations: JSDA, Type II Financial Instruments Firms Association and The Financial Futures Association of Japan. Commissions and risks involved in stock transactions - for stock transactions, we charge stock commis
Entities connected to both Nippon and Type II Financial Instruments Firms Association

Moody's
ORGANIZATION
Deutsche Bank
ORGANIZATIONStandard & Poor's
ORGANIZATIONthe Kanto Local Finance Bureau
ORGANIZATION
Frankfurt
LOCATION
Malaysia
LOCATIONthe Qatar Financial Centre
ORGANIZATIONDeutsche Securities Saudi Arabia
ORGANIZATION
Riyadh
LOCATIONDeutsche Securities Saudi Arabia LLC Company
ORGANIZATION
Russia
LOCATIONDeutsche Bank Securities Inc.
ORGANIZATION
New Zealand
LOCATIONBaFin
ORGANIZATION
United Kingdom
LOCATIONDeutsche Securities Inc.(DSI
ORGANIZATIONAssociation of Japan
ORGANIZATIONJapan Investment Advisers Association
ORGANIZATIONthe Prudential Regulation Authority
ORGANIZATIONNew Zealand Financial Advisors Act
ORGANIZATION