CFP STRICTLY PRIVATE & CONFIDENTIAL, FOR INTERNAL DISTRIBUTION ONLY Key Decision Criteria Proposed Due Diligence Framework for CF Mandated Deals ■ Key criteria that drive decision to add products and transactions to the AWM platform. ■ Exceptions handled by committee. Criterion Remarks AWM Due Diligence (legal & technical) Analysis of Capital Structure Counterparty Analysis Reputational Risk Analysis Structuring; Documentation Governance Controls. Visibility in Structure Conf€icts of Interest Revenue Potential Resourcing Region i Client Type / Advisory Full due diligence of legal and technical (e.g., infrastructure) aspects, lo the standard required by in-house AWM funds (ARA TRC, AFS IC etc.) How is asset tinanced, stability arid risks of leverage and stability of capital structure. Managers, asset operators, introducers/brokers. General Partners etc. Counterparlies, nature of underlying asset/business. economic terms, legalitax considerations etc. Reviewed by DeAWM. reliance letters from external advisors Board seats, step-in rights. operational and financial transparency, approvals from managers and counterparties for key decisions etc.. investor representation. With the managertoperators. within DB divisions. with investors. Placement fees Asset management fees Carry (performance fees over hurdle) Follow-on business from investors I clients AFS.ARA JV Teams for RE & Infrastructure: other assets: no current resourcing. Global, KCP, Non-Advised Key Issue: Outside of RE and Infrastructure no current AWN, expertise or resources to conduct due diligence on direct deals. w Possible solution: w Hire 3-4 headcount with direct PE or CF advisory due diligence expertise and background. w Transfer appropriate expertise from CF to AWM PI Interim Solution: • Put onus on CF to deliver due diligence (as above) to satisfy criteria and Private Markets to review, query, follow-up and approve. Deutsche Asset 3 Wealth Manage mer,t 6 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0 121903 SDNY_GM_00268087 EFTA01460558