14 August 2015 Data Flash. The RMB depreciation series 2. CM' forecast revision [Figure 1: Daily USD/CNY Change. August 10.14 IFigure 2: Chin& Reserve requirement ratio. 2000-15 pall 250 200 1_50 060 000 O60 • • 1Apcl rate a Cbsnq spot rate 1041612016 11/05/2016 12/06/2016 tvostrors 1405e2015 &VOA O.c de* litombverg Franc Il 01,m5rti 25 —ARR. sena and /14diutA RlJr[WMIW14ns rsRi largo fitanoil 44140^444 20 10 0 2002 2001 1O)21O00 2004 2005 2006 2001 2208 2052 2010 2011 2012 2012 2014 2515 Sew t Putstbalent MAO Page 2 Deutsche Bank AG/Hong Kong CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0073262 SDNY_GM_00219446 EFTA01376831