Epstein Secrets

% 60% 80% 100% S&P 500 S&P Healthcare Nov 1992: Clinton Elected Jan 1993: Hillarycare task force created Figure 31: Hit to Health Care since Hillary Clinton's tweet on Sept 21 (relative price performance) Sept 1994: Sen Majority leader Mitchell declares Clinton initiatives dead -16.0% -14.0% -12.0%

ares Clinton initiatives dead -16.0% -14.0% -12.0% -10.0% -8.0% -6.0% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% S&P 500 S&P Healthcare Sept 21: Hillary Tweets about drug prices Source: IBES, Deutsche Bank Source: IBES, Deutsche Bank Reiterating UW on Energy We continue to question the still high

2502300 $125 18.2x 16.7x $44 Date 16 Nov 2015 8 Nov 2015 1 Nov 2015 23 Oct 2015 Bloomberg Ticker DBUSHIFC DBUSBRTE DBUSCICG DBUSDMST Deutsche Bank Securities Inc. Deutsche Bank does and seeks to do business with companies covered in its EFTA01476305 research reports. Thus, investors should be aware that th

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a o ••• • u. 6 Zo —Steel mills capacity utilization (US) (to) —6 yr Average M M m O C IO (ON 4.8 74.1 Setroa Onsche Sn Stags. Ann* LP Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRI M. P. 6(e) DB-SDNY-0086735 CONFIDENTIAL SDNY_GM_00232919 EFTA01385450

in China being driven by strong investment in China's infrastructure and property markets. Evident in Figure 35, Chinese domestic hot-rolled coil (HRC) is -20% higher YoY, a constructive sign for the global steel industry considering China represents 50% of global production despite its domestic m

y reform makes it even more important to watch China closely considering that small changes in supply and demand have serious global implications. Deutsche Bank Securities Inc. Page 175 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0086734 CONFIDENTIAL SDNY_GM_00232918 EFTA01385449

st domestic demand in China driven by strong investment in China's infrastructure and property markets. Currently Chinese domestic hot-rolled coil (HRC) is -20% higher YoY, a constructive sign for the global steel industry considering China represents 50% of worldwide production despite its domesti

cost inflation, a reversal of MTNA's decision to achieve IG ratings, softer global economic trends, regulatory changes and lower steel prices. Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRI M. P. 6(e) CONFIDENTIAL DB-SDNY-0086733 SDNY_GM_00232917 EFTA01385448

CANADA oBRAZIL • KOREA • MEOCO WRMKEY • RUSSIA a JAPAN SCarre DaRiCAt &Mt VS OsplenThYr of Convnew Figure 30: Spread between U.S. and Chinese HRC prices 5350 - 5300 5250 5200 $150 $100 5119 550 50 IA IA LA Let tn m ID b Co QD 0 N N N N N N aei .6 4zdt e.4“,... e“ .4

ceived by the U.S. domestic industry as they continue to cope with a market that oftentimes can become distressed in a matter of months. Page 192 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0086751 CONFIDENTIAL SDNY_GM_00232935 EFTA01385466

.vcf; Heptagon Capital.vcf; Dennis S- Hersch.vcf; Hillary Bunn.vcf; Hillspire LIC.vcf; Hollis Morris.vcf;

ly Best, Amanda Kirby Amanda Kirby Deutsche Bank Trust Company Americas Deutsche Bank Wealth Management Pcarriowitr Securities offered through Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0071746 CONFIDENTIAL SDNY_GM_00217930 EFTA01376014