3
Shared Docs
3
Same-Page
3 / 3
Mentions
mmittee Guy Ashton Global Chief Operating Officer Research Marcel Cassard Global Head FICC Research & Global Macro Economics Richard Smith and Steve Pollard Co-Global Heads Equity Research Michael Spencer Regional Head Asia Pacific Research International Locations Ralf Hoffmann Regional Head Deut
014 'Research Team London Bilel Hafeez James Malcolm Henrik Gullberg George Sarevelos Siddhanh Kapoor Oliver Harvey Nicholas Weng New York Alan Ruskin Daniel Brehon Dreusio GiacomoIli Guilherme Marone Singapore Sameer Goel Ma'like Sadie!eye Perry Kojodjojo Sydney Adam Boyton Tokyo Teisuke
auer Regional Head Guy Ashton Chief Operating Officer EFTA01464475 Research Richard Smith Associate Director Equity Research North America Steve Pollard Regional Head Global Disclaimer The information and opinions in this report were prepared by Deutsche Bank AG or one of its affiliates (collectiv
m London Bilal Hafeez James Malcolm Henrik Gullberg George Saravelos Caio Natividade Siddharth Kapoor Oliver Harvey Nicholas Weng New York Alan Ruskin Daniel Brehon Drausio Giacomelli Guilherme Marone Mauro Roca Singapore Sameer Goel Mallika Sachdeva Sydney John Horner Tokyo Taisuke Tanak
(81) 3 5156 6770 Marcel Cassard Global Head FICC Research & Global Macro Economics Ralf Hoffmann Regional Head Deutsche Bank Research, Germany Steve Pollard Global Head EFTA01476252 Equity Research Andreas Neubauer Regional Head Equity Research, Germany GRCM2015PROD034979 EFTA01476253
Michael Spencer Taimur Baig Gustavo Canonero Strategy Dominic Konstam Francis Yared Oleg Melentyev Jim Reid David Bianco Sebastian Raedler Alan Ruskin George Saravelos Michael Hsueh Binky Chadha Peter Garber Global Head of Research Global Head, Macro Research Telephone +44 20 754 55502 +852 2
Entities connected to both Steve Pollard and Alan Ruskin

Tokyo
LOCATIONAndreas Neubauer
PERSON
Sydney
LOCATIONDavid Folkerts-Landau
PERSON
Frankfurt
LOCATION
Deutsche Bank
ORGANIZATIONMichael Spencer
PERSONChiyoda-ku
ORGANIZATION
Kowloon
LOCATIONRalf Hoffmann
PERSONMarcel Cassard
PERSON
Richard Smith
PERSONNippon
ORGANIZATION
Moody's
ORGANIZATIONGuy Ashton
PERSONthe Kanto Local Finance Bureau
ORGANIZATION
Malaysia
LOCATION
Alan Dershowitz
PERSONStandard & Poor's
ORGANIZATION
New Zealand
LOCATION