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fice in Frankfurt am Main. Deutsche Bank AG is authorized under German Banking Law 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 Bran
Andreas Neubauer Head of Research - Germany International Production Locations Dave Clark Head of APAC Equity Research Steve Pollard Head of Americas Research Global Head of Equity Research Spyros Mesomeris Global Head of Quantitative and QIS Research Pam Finelli Global Head of Equity Derivatives Res
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
ve Pollard EFTA01473330 Co-Global Heads Equity Research Andreas Neubauer Regional Head Equity Research, Germany Steve Pollard Regional Head Americas Research EFTA01473331
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
ve Pollard EFTA01473353 Co-Global Heads Equity Research Andreas Neubauer Regional Head Equity Research, Germany Steve Pollard Regional Head Americas Research EFTA01473354
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
ve Pollard EFTA01473409 Co-Global Heads Equity Research Andreas Neubauer Regional Head Equity Research, Germany Steve Pollard Regional Head Americas Research EFTA01473410
Entities connected to both BaFin and Americas Research

Frankfurt
LOCATION
Deutsche Bank
ORGANIZATION
United Kingdom
LOCATIONthe Federal Republic of Germany
LOCATIONDeutsche Securities Inc.(DSI
ORGANIZATIONthe Kanto Local Finance Bureau
ORGANIZATIONDeutsche Bank AG Johannesburg
ORGANIZATION
Tokyo
LOCATION
Sydney
LOCATIONMichael Spencer
PERSONAndreas Neubauer
PERSONthe Dubai Financial Services Authority
ORGANIZATIONSteve Pollard
PERSON
Federal Financial Supervisory Authority
ORGANIZATION
Kowloon
LOCATIONStandard & Poor's
ORGANIZATIONNippon
ORGANIZATION
Moody's
ORGANIZATIONDavid Folkerts-Landau
PERSONChiyoda-ku
ORGANIZATION