Epstein Secrets

ch SPDR S&P Biotech ETF 0.35% 0.35% 805 2.282 14.1 294.3 Health Care Equipment & Supplies IH1 Shares U.S. Medical Devices 0.45% 778 8.3 Health Care Providers & Services IHF iShares U.S. Health Care Providers 0.45% 858 12.0 Pharmaceuticals PPH XPH Market Vectors Pharmaceuticals SPDR S&P Pharmaceuticals 0.35

mation Technology VGT Vanguard Inf. Technology 0.12% 7,809 28.6 Communications Egtipment 1GN 'Shares NA Tech-Multimedia Net 0.48% 151 0.5 Internet Software & Services PNOI PowerShares NASDAQ Internet 0.80% 223 1.3 Semiconductors SMH XSD Market Vectors Semiconductor SPDR S&P Semiconductor 0.35% 0.35% 49

h SPQR S&P Biotech ET1 0.35% 0.35% 805 2,282 14.1 294.3 Health Care Equipment & Supplies IHI iShares U.S. Medical Devices 0.45% 776 6.3 Health Care Providers & Services IHF iShares U.S. Health Care Providers 0.45% 868 12.0 Pharmaceuticals PPS' XPH Market Vectors Pharmaceuticals SPDR S&P Pharmaceuticals 0.3

mation Technology VGT Vanguard Inf. Technology 0.12% 7.609 28.6 Communications FnuiPmenf IGN Shares NA Tech-Mid inordia Net 0.48% 151 0.5 Internet Software & Services PNOI PowerShares NASDAO Internet 0.60% 223 1.3 Semiconductors SMH XSD Market Vectors Semiconductor SPEW S&P Semiconductor 0.35% 0.35% 49

8.3 10.6 10.6 20.5 29.3 29.5 22.9 21.3 20.0 17.2 16.4 17.3 16.0 18.4 16.8 24.5 22.4 23.8 21.7 Equa lweight 2015 2016 PE PE Underweight Health Care Providers & Services 2015 2016 PE PE 16.3 15.5 David Bianco,(1) 212 250 8169 Ju Wang, (1) 212 250 7911 Winnie Nip (1) 415 617 3297 EFTA01476128 8 December 2015

Overweight 2015/16 PE 2015 2016 PE PE 14.4 12.9 21.6 20.3 27.8 24.1 19.1 18.4 17.7 16.9 Technology Hardware, Storage & Peripherals11.9 11.2 Internet Software & Services EFTA01476125 30.0 26.7 18.5 17.5 16.9 16.3 21.3 20.1 12.3 11.8 17.0 15.8 14.6 14.3 21.3 19.9 10.5 9.5 16.9 16.4 12.4 12.7 11.8 11.2 Con

3 16.7 25.0 22.8 23.6 21.5 EFTA01476321 20.9 12.3 18.8 17.4 33.2 19.3 11.7 18.0 16.1 11.7 Equalweight 2015 2016 PE PE Underweight Health Care Providers & Services 2015 2016 PE PE 16.0 15.2 EFTA01476322 US Equity Insights 20 November 2015 Deutsche Bank Securities Inc. Page 5 Figure 9: S&P EPS Model by

958 5,897 414 3,025 22,232 10,111 713 3,215 663 83.6 11,360 EFTA01476341 17,783 Electronic Equipment, Instruments & Components 1,454 Internet Software & Services 3,551 14,226 Semiconductors & Semiconductor Equipment 15,276 19,948 17.4 Construction Materials Containers & Packaging 11,063 526 1,070 4,