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nk AG Deutsche Bank AG Deutsche Securities Inc. Deutsche Bank Place Grog° Gallusstra8e 10-14 Filial° Hongkong 2-11-1 Nagatacho Level 16 60272 Frankfurt am Main International Commerce Centre, Senna Park Tower Corner of Hunter & Phillip Streets Germany 1 Austin Road West,Kowloon, Chiyoda-ku, Toky
s movements. Deutsche Bank AG/London Page 25 EFTA00610300 David Folkerts-Landau Group Chief Economist Member of the Group Executive Committee Guy Ashton Global Chief Operating Officer Research Marcel Cassard Global Head FICC Research & Global Macro Economics Richard Smith and Steve Pollard Co-G
Global Head FICC Research & Global Macro Economics Ralf Hoffmann Regional Head Deutsche Bank Research. Germany Grofio Gallo:rm.:le 10-14 60272 Frankfurt am Main Germany Tel: (49)69 910 00 arutsthaTihrlk &Mt:0 icKt Int 60 Wall Street New York. NY 10005 United Slates of America Tel: I I 1 212 2
David Folkerts-Landau Group Chief Economist Member of the Group Executive Committee Guy Ashton Global Chief Operating Officer Research Michael Spencer Regional Head Asia Pacific Research International Locations Deutsch, Pprili AG Deutsc
Global Head FICC Research & Global Macro Economics Ralf Hoffmann Regional Head Deutsche Bank Research. Germany Grofio Gallo:rm.:le 10-14 60272 Frankfurt am Main Germany Tel: (49)69 910 00 arutsthaTihrlk &Mt:0 icKt Int 60 Wall Street New York. NY 10005 United Slates of America Tel: I I 1 212 2
David Folkerts-Landau Group Chief Economist Member of the Group Executive Committee Guy Ashton Global Chief Operating Officer Research Michael Spencer Regional Head Asia Pacific Research International Locations Deutsch, Pprili AG Deutsc
che Bank Securities Inc., a member of the NYSE, the NASD, NFA and SIPC. In Germany this report is approved and/or communicated by Deutsche Bank AG Frankfurt authorized by the BaFin. In the United Kingdom this report is approved and/or communicated by Deutsche Bank AG London, a member EFTA01464476 of t
ities Inc. Chiyoda-ku, Tokyo 100-6171 Japan Tel: Ralf 14Mo matil!".11111 Speyer Co-Heads DB Research Germany Andreas Neubauer Regional Head Guy Ashton Chief Operating Officer EFTA01464475 Research Richard Smith Associate Director Equity Research North America Steve Pollard Regional Head G
h Marcel Cassard Global Head CB&S Research Asia-Pacific Fergus Lynch Regional Head Principal Locations Deutsche Bank AG London Tel: Deuts Frankfurt 60272 Frankfurt am Main German Deutsche Bank Dubai Dubai International Financial Centre . tjox Dubai City Tel: Publication Address: Deutsche
illip Streets Sydne NSW 2000 Tel: EFTA01464568 Ralf Hoffmann & Bernhard Speyer Co-Heads DB Research Germany Andreas Neubauer Regional Head Guy Ashton Chief Operating Officer Research Richard Smith Associate Director Equity Research Americas Steve Pollard Regional Head GRCM2013PROD028390 E
Bank AG London 1 Great Winchester Street London EC2N 2EQ United Kingdom Tel: (44) 20 7545 8000 Deutsche Bank AG Grote GallusstraRe 10-14 60272 Frankfurt am Main Germany Tel: (49) 69 910 00 Deutsche Bank Securities Inc. 60 Wall Street New York, NY 10005 United States of America Tel: (1) 212 250
a-ku, Tokyo 100-6171 Japan Tel: (81) 3 5156 6770 Ralf Hoffmann & Bernhard Speyer Co-Heads DB Research Germany Andreas Neubauer Regional Head Guy Ashton Chief Operating Officer EFTA01464585 Research Richard Smith Associate Director Equity Research North America Steve Pollard Regional Head G
gional Head Deutsche Bank Research. Germany Beeec.he Bare. AO Eklecche fimiL p,c; Deutsche Bank Place DiorSe GallusstrafLo 10.10 Level 16 60272 Frankfurt am Main Corner of Hunter & Phillip SIFOOIS Gerne m a m Sydney. NSW 2000 Vaha Dews,: he Hank AC Lonclon I Great Wnchester Street London EC2N 2E0
David Folkerts-Landau Group Chief Economist Member of the Group Executive Committee Guy Ashton Marcel Cassard Richard Smith and Steve Pollard Global Chief Operating Officer Global Head Co-Global Heads Research FICC Research & Global Macr
esearch Prete:cite Berle AO DeWitt:: Ban>, j.A.; Deutsche Bank Place GrotSeGallussuarat 10.10 Reale Hongkong 2.11.1 Nagatacho Level 16 60272 Frankfurt ant Main International Commerce Centre. Senna Park Tower Comer of Hunter & Phlllm SIFOOIS Germa 1 Austin Road West, Kowlcon, Cluyoda-ku, Tokyo
David Folkerts-Landau Group Chief Economist Member of the Group Executive Committee Guy Ashton Global Chief Operating Officer Research Michael Spencer Regional Head Asia Pacific Research International Locations Marcel Cassard Global
Bank AG London 1 Great Winchester Street London EC2N 2EQ United Kingdom Tel: (44) 20 7545 8000 Deutsche Bank AG Grote Gallusstra@e 10-14 60272 Frankfurt am Main Germany Tel: (49) 69 910 00 Deutsche Bank Securities Inc 60 Wall Street New York, NY 10005 United States of America Tel: (1) 212 250 2
Federation. Deutsche Bank AG/London Page 49 EFTA01466497 David Folkerts-Landau Group Chief Economist Member of the Group Executive Committee Guy Ashton Global Chief Operating Officer Research Michael Spencer Regional Head Asia Pacific Research International locations Deutsche Bank AG Deutsche
che Bank Securities Inc., a member of the NYSE, the NASD, NFA and SIPC. In Germany this report is approved and/or communicated by Deutsche Bank AG Frankfurt authorized by the BaFin. In the United Kingdom this report is approved and/or communicated by Deutsche Bank AG London, a member EFTA01464411 of t
, es Inc. Chiyoda-ku, Tokyo 100-6171 Japa Tel: Ralf Hoffmann & Bernhard Speyer Co-Heads DB Research Germany Andreas Neubauer Regional Head Guy Ashton Chief Operating Officer EFTA01464410 Research Richard Smith Associate Director Equity Research North America Steve Pollard Regional Head G
Entities connected to both Frankfurt and Guy Ashton

United States
LOCATION
Deutsche Bank
ORGANIZATION
United Kingdom
LOCATION
Tokyo
LOCATION
Sydney
LOCATION
Bloomberg L.P.
ORGANIZATION
Norway
LOCATIONSteve Pollard
PERSON
New Zealand
LOCATIONAndreas Neubauer
PERSONDavid Folkerts-Landau
PERSONMichael Spencer
PERSONthe Kanto Local Finance Bureau
ORGANIZATION
Malaysia
LOCATION
Kowloon
LOCATIONMarcel Cassard
PERSONDeutsche Bank AG Johannesburg
ORGANIZATION
Moody's
ORGANIZATIONChiyoda-ku
ORGANIZATIONDeutsche Bank Research
ORGANIZATION