Epstein Secrets

IM: Indicative levels as of 4/8/14. Source: DB GM Equity Derivatives. * (Enterprise Value/Net Capi

5-Year History of CROCI US DIVIDENDS vs. S&P 500 Inedex (as of close 4/7/14) (Embedded image moved to file: pic10657.gif) Used with permission of Bloomberg Finance LP (Embedded image moved to file: pic21550.gif) (Embedded image moved to file: pic18365.gif) Tazia Smith Director I Key Client Partners - US DB Sec

ip Vineyard expansion and resort development of 22,000 acres within Napa and Lake Counties in the historic Guenoc Valley of California Refitter of GM trucks from internal combustion to extended range electric vehicles Min Invest Total Raise $25mmm $300mm TBD TBD TBD TBD $65mm $1mm TBD

alling oil prices will see basket underperform Implementation: Buy European Oil Sensitivity Basket via Delta One note or Total Return Swap Source: Bloomberg Finance LP, Deutsche Bank Research European Oil Sensitivity Basket Outperforms market when Brent rises (1) For additional detail on basket holdings please se

IM: Indicative levels as of 4/8/14. Source: DB GM Equity Derivatives. * (Enterprise Value/Net Capi

) 5-Year History of CROCI US DIVIDENDS vs. SW 500 Inedex (as of close 4/7/14) (Embedded image moved to file: pic10657.gif) Used with permission of Bloomberg Finance LP (Embedded image moved to file: pic21550.gif) (Embedded image moved to file: pic18365.gif) Tazia Smith Director I Key Client Partners - US DB sec

- 1)] Indicative levels as of 4/8/14. Source: DB GM Equity Derivatives. • (Enterprise Value/Net Capi

m 138.03% 19 27, • No diy'dends or coupons .200 .150 .100 4.50 2009 I 2010 2011 Total Return 2012 2013 2014 Used with permission of Bloomberg Finance LP CONFIDENTIAL — PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0 111440 CONFIDENTIAL SDNY_GM_00257624 EFTA01453680

- 1)1 Indicative levels as of 4/8114. Source: DB GM Equity Derivatives. " (Enterprise Valuc/Nct Capi

S&P 500 INDEX +. No dividends or coupons 200 .150 .100 .50 2009 2010 2011 i 2012 Total Return .. . 2013 2014 Used with permission of Bloomberg Finance LP CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0111454 CONFIDENTIAL SONY GM_00257638 EFTA01453686

EFTA01476499 2013 2009 2010 2008 2011 2012 Source: I/B/E/S and Deutsche Bank Markets Research Cons. Disc. 2010/11 jumped in Nov 2010 after GM was added to S&P. Cons. Staples 2013 jumped in Oct 2012 due to KRFT IPO. Health Care 2012/13 jumped after ESRX's acquisition of Medco. Telecom 2011

n Up Up Up Down Down Down Up Up Up Up Up Up Down Down Down Up Down Down Up Down Down Down Down Down Down Down Source: FRB, Bloomberg Finance LP, I/B/E/S, Deutsche Bank A signal's risk aversion is based on its current level expressed as a percentile of all the observations in its long-term h