3 January 2018 HY Corporate Credit HY Multi Sector,Media, Cable & Satellite iFigure 2: U.S. Existing Home Sales 'Figure 3: CPP - Home Improvement Series U.S. Exeeng Home Sales Caltruction Rut 11 Piece • Home Improvement (28R) • SA 00 20 0 300% no% 850 $200 XkO% 210% MO% 110% 100% / 50 100% 00% - 5150 10% I 40 00% 15 30 g0' s 0 0% 15100 -50% -200% 160 450% 10 .200% 0o -300% " • .254% e/Asecesete greteerc lO r e cr , co , * Sao 40 it 55SViiSESSS%5S5S555F.555N5 DVS &M%2 Mane $an —Curry. ow. MR Son Nues-A• Bank 94%-anottuanian efookart 6.1ardwrg form* LP Sage. tivasth• Sre. US Cantu &erg.. [Figure 4: Leading Indicator of Remodeling Activir; 5350.0 33500 I ROO 0 5150 0 • MO 0 • 1.50 JCHS Leading Indicator a RomcclaIng AcIMIs. (LIRA) AvJ Figure .Slider Home Price Index (National) • 304% Case - Sheet Home Pao Compost° lax 250 i no% • 15.0% z00% SCO 1 10.0% - 150% 100% I ISO I SO% 11c 0.0% a" • 0, 50 40% -100% sox o • ISO% Soo -15.0% EsP1O51tuttf Sauce OnAICAt Bret JCHS Hirrant ifteenit013%.1. 10/4-% 55555 55555 555555555 Cass-ShIhr —Oienr Wei Saxe< 0.,rs:te ten' %%flay f-,,,nce IP Deutsche Bank Securities Inc. Page 5 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0086564 CONFIDENTIAL SONY GM 00232748 EFTA01385280