Needham The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC web site, at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arran e to send you the prospectus if you request it by calling toll-free or by mail from Deutsche Bank Securities Inc., 60 wall Street, New Yor , New York 10016, or by email at (Embedded image moved to file: pic053.54.gif) Tazia Smith Director I Key Client Partners - US Deutsche Bank Securities Inc Deutsche Asset & wealth Management 345 Park Avenue, 26th Floor New York NY 10154 Tel. Fax Mobile Email (Embedded image moved to file: pic03529.gif) Forwarded by Tazia Smith/db/dbcom on 03/18/2014 07:56 PM From: To: Date: Subject: APPROVED FOR Nate Hall/db/dbcom@DBCOEX 03/18/2014 07:39 PM *** PRICING DETAILS **" LEFT BOOKRUN IPO *** PAYLOCITY HOLDING CORP (NASDAQ: PCTY) *** EXTERNAL DISTRIBUTION "*" CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0123453 CONFIDENTIAL SDNY_GM_00269637 EFTA01461417