Subject: Fw: Trade Report 3/13/14 - WTI Zero Cost Risk Reversal [C] From: Paul Morris < Date: Thu, 13 Mar 2014 20:35:38 -0400 To: Chip Packard Classification: Confidential Chip, need to talk tomorrow about how we are covering clients from capital markets, likely big negative impact on leon black that we were expecting to close next few days. Original Message From: Tazia Smith Sent: 03/13/2014 07:34 PM EDT To: Paul Morri Subject: Re: Trade Report 3/13/14 - WTI Zero Cost Risk Reversal [C] Classification: Confidential Just off from call with Caroline. Changes in desk structure escalated and I'm getting on a train tonight. Tazia Smith Director Key Client Partners - US Deutsche Bank Securities, Inc. Deutsche Asset & Wealth Management 345 Park Avenue - 26th Floor New York, NY 10154 Tel: Mobile: Fax: E-mail: Original Message From: Paul Morris Sent: 03/13/2014 06:53 PM EDT To: Vinit Sahni; Nam Gupta; Tazia Smith Subject: Fw: Trade Report 3/13/14 - WTI Zero Cost Risk Reversal [C] Classification: Confidential He mentioned this trade in our mtg yesterday, next time we need to show him the trades faster, if any uncertainty just call him, he's not happy Original Message From: Tazia Smith Sent: 03/13/2014 06:01 PM EDT To: "Jeffrey epstein" <[email protected]> Cc: Paul Morris; Vinit Sahni; Nam Gupta; Vahe Stepanian; "Jean Anne Wiebracht (jeanie)" 11§§§§§§§§§§§§§§Mk; "Rich Kahn" Subject: Trade Report 3/13/14 - WTI Zero Cost Risk Reversal [C] Classification: Confidential Jeffrey - EFTA01467854

As discussed, today you executed the following: Underlying: Jun14 WTI Bloomberg code: CLM4 <comdty> RMS Counterparty code: SOFL SOFL buys $101 call SOFL sells $93.5 put Premium: Zero Notional: 100,000 bbls on each leg Both legs knock out if on any day CLM4 fixes below $20/bbl. Initial Margin = 13% Tazia Smith Director Key Client Partners - US Deutsche Bank Securities, Inc. Deutsche Asset & Wealth Management 345 Park Avenue - 26th Floor New York, NY 10154 Tel: Mobile: Fax: E-mail: EFTA01467855