4
Shared Docs
4
Same-Page
4 / 4
Mentions
authorized under German Banking Law (competent authority: European Central Bank) and is subject to supervision by the European Central Bank and by BaFin, Germany's Federal Financial Supervisory Authority. United Kingdom: Approved and/or distributed by Deutsche Bank AG acting through its London Branc
-ku, Tokyo 100-6171 Japan Tel: (81) 3 5156 6770 Marcel Cassard Global Head FICC Research & Global Macro Economics Ralf Hoffmann Regional Head Deutsche Bank Research, Germany Richard Smith and Steve Pollard EFTA01473330 Co-Global Heads Equity Research Andreas Neubauer Regional Head Equity Research, Germany
authorized under German Banking Law (competent authority: European Central Bank) and is subject to supervision by the European Central Bank and by BaFin, Germany's Federal Financial Supervisory Authority. United Kingdom: Approved and/or distributed by Deutsche Bank AG acting through its London Branc
o Sanno Park Tower Chiyoda-ku, Tokyo Japan Tel: Marce assay Global Head FICC Research & Global Macro Economics Ralf Hoffmann Regional Head Deutsche Bank Research, Germany Richard Smith and Steve Pollard EFTA01473353 Co-Global Heads Equity Research Andreas Neubauer Regional Head Equity Research, Germany
authorized under German Banking Law (competent authority: European Central Bank) and is subject to supervision by the European Central Bank and by BaFin, Germany's Federal Financial Supervisory Authority. United Kingdom: Approved and/or distributed by Deutsche Bank AG acting through its London Branc
Sanno Park Tower Chiyoda-ku, Tokyo Japa Tel: Marcel Cassard Global Head FICC Research & Global Macro Economics Ralf Hoffmann Regional Head Deutsche Bank Research, Germany Richard Smith and Steve Pollard EFTA01473409 Co-Global Heads Equity Research Andreas Neubauer Regional Head Equity Research, Germany
authorized under German Banking Law (competent authority: European Central Bank) and is subject to supervision by the European Central Bank and by BaFin, Germany's Federal Financial Supervisory Authority. United Kingdom: Approved and/or distributed by Deutsche Bank AG acting through its London Branc
-ku, Tokyo 100-6171 Japan Tel: (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 EFTA01476553 Equity Research Andreas Neubauer Regional Head Equity Research, Germany GRCM2015PROD034913
Entities connected to both BaFin and Deutsche Bank Research

Frankfurt
LOCATION
Deutsche Bank
ORGANIZATION
United Kingdom
LOCATION
Tokyo
LOCATIONthe Kanto Local Finance Bureau
ORGANIZATION
Sydney
LOCATIONMichael Spencer
PERSONSteve Pollard
PERSONAndreas Neubauer
PERSONthe Federal Republic of Germany
LOCATIONDeutsche Securities Inc.(DSI
ORGANIZATIONDeutsche Bank AG Johannesburg
ORGANIZATIONDavid Folkerts-Landau
PERSONRalf Hoffmann
PERSON
Kowloon
LOCATIONChiyoda-ku
ORGANIZATIONMarcel Cassard
PERSON
Moody's
ORGANIZATIONStandard & Poor's
ORGANIZATION
Federal Financial Supervisory Authority
ORGANIZATION