Epstein Secrets

33 Other Risks to the Outlook 37 A Country by Country Outlook on Key Players 40 Angola 40 Brazil 42 Canada 44 Caspian Sea, ex Russie 47 Colombia 49 U.S. Gulf of Mexico 51 Malaysia 54 Mexico 56 North Sea 59 Russia 61 Appendix 63 Page 2 Deutsche Bank Securities Inc. CONFIDENTIAL

on Key Players 40 Angola 40 Brazil 42 Canada 44 Caspian Sea, ex Russie 47 Colombia 49 U.S. Gulf of Mexico 51 Malaysia 54 Mexico 56 North Sea 59 Russia 61 Appendix 63 Page 2 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058853 CONFIDENTIAL

lat through 2020. Figure 13: ,_014-20 I 7 Cumulative Growth (Mbid) Figure 14 2014.2020 Cumulative Growth (Mbrkt Mexico MI Non-OPEC Mickile East Colombia ■ North Sea • Alaska r Caspian Sea India Europe Non-OECD Other Non-OECD Asia Angola Other FSU Australia Other Non-OPEC Latin America O

020. Figure 13: ,_014-20 I 7 Cumulative Growth (Mbid) Figure 14 2014.2020 Cumulative Growth (Mbrkt Mexico MI Non-OPEC Mickile East Colombia ■ North Sea • Alaska r Caspian Sea India Europe Non-OECD Other Non-OECD Asia Angola Other FSU Australia Other Non-OPEC Latin America Other Europe OE

rice assumptions 3.0 2.5 2.0 mn b/d, YoY BofAML f'cast 15 1.0 0.5 0.0 -0.5 -1.0 2010 2012 2014 2016F 2018F 2020F mu US meme Canada mam Mexico mmm North Sea mmm Russia Kazakhstan . . 2013 2014 2015 2016 2017 2018 2019 2020 mum Asia Brazil mmm Sudan/So. Sudan other —+— total non-OPEC base =2016@$45/bbl m20

AFRICA m@ BRAZIL MEXICO m RUSSIA = MALAYSIA (EM) = INDONESIA m= THAILAND ~ PHILIPPI m SAUDI = TURKEY = CHILE m= POLAND @ QATAR m UAE m= COLOMBIA m PERU m GREECE m HUNGARY EGYPT m@ CZECH REPUBLIC Source: : BofA Merrill Lynch Global Research, MSCI and DataStream 46 GEMs Paper #26 | 30 June