Epstein Secrets

Multi Asset Investment Process The Americas Regional Investment Committee refines asset allocations for clients Multi Asset Investment Committee Global asset allocation 414 Americas Regional Investment Committee (RIC) Asset allocation for U.S. portfolios Selection of third party managers

Return Tactical Asset Allocation' - Shorter term (12-month outlook) -- Sensitive to after-tax returns — Changes with outlook for asset classes Allocations Along Efficient Frontier2 Portfolio Consultants tailor models according to client's unique circumstances R.sk Client Portfolios fiJ We are not tax advisors. th

Allocation MIC1 Regional Asset Allocation RIC2 Security Selection PIC3 Portfolio Management Client Portfolio Quality Management 1 MIC = Multi Asset Investment Committee 2 RIC = Regional Investment Committee 3 PIC = Portfolio Implementation reCommendation Source: Deutsche Bank Wealth Management Deutsche Bank Weal

(1 year) Tactical Asset Allocationl — Shorter term (12-month outlook) — Sensitive to after-tax returns — Changes with outlook for asset classes Allocations Along Efficient Frontier2 Client Portfolios Return Portfolio Consultants tailor models according to client's unique circumstances Risk We are not tax advisors

Allocation MIC1 Regional Asset Allocation RIC2 Security Selection PIC3 Portfolio Management Client Portfolio Quality Management 1 MIC = Multi Asset Investment Committee 2 RIC = Regional Investment Committee 3 PIC = Portfolio Implementation reCommendation Source: Deutsche Bank Wealth Management Deutsche Bank Weal

(1 year) Tactical Asset Allocationl — Shorter term (12-month outlook) — Sensitive to after-tax returns — Changes with outlook for asset classes Allocations Along Efficient Frontier2 Client Portfolios Return Portfolio Consultants tailor models according to client's unique circumstances Risk We are not tax advisors

Multi Asset Investment Process The Americas Regional Investment Committee refines asset allocations for clients Multi Asset Investment Committee Global asset allocation Americas Regional Investment Committee (RIC) Asset allocation for U.S. portfolios Selection of third party managers Stra

etcy • • Tactical Asset Allocation' - Shorter term (12-month outlook) — Sensitive to after-tax returns — Changes with outlook for asset classes Allocations Along Efficient Frontier2 ..... Portfolio Consultants tailor models according to client's unique circumstances Risk 4- Client Portfolios I. We are not tax a