Subject: Re: PCTY From: Tazia Smith ‹ > Date: Wed, 19 Mar 2014 10:26:21 -0400 To: [email protected] Cc: Nav Gupta Paul Morris Vahe Stepanian Vinit Sahni Paylocity (PCTY) opens at $31 (+$17/sh), and now you can see it trading (—$27.75 last). Let us know if you want to trade. Thanks, Tazia Tazia Smith Director I Key Client Partners - US Deutsche Bank Securities Inc Deutsche Asset & Wealth Management Email From: Tazia Smith/db/dbcom To: jeevacation@ mail.com, Cc: Nav Gupta/db/- dbcom@DBEMEA, Paul Morris, Vahe Stepanian/db/- dbcom@DBAMERICAS, Vinit Sahni/db/dbcom@DBEMEA Date: 03/19/2014 10:10 AM Subject: Re: PCTY EFTA01479517

paired off on 600k shs at $31 (+$14/sh), not open yet 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. +1 (212) 454-2889 Fax +1 (646) 257-3131 Mobile +1 (917) 327-4107 Email From: Tazia Smith/db/dbcom To: 'eevacation mail.com, Cc: Nav Gupta/db/- dbcom@DBEMEA, Paul Morris, Vahe Stepanian/db/- dbcom@DBAMERICAS, Vinit Sahni/db/dbcom@DBEMEA Date: 03/19/2014 10:00 AM Subject: PCTY PCTY looking —$23 (+$6), supposed to open at 10am, now delayed EFTA01479518

From: Tazia Smith/db/dbcom To: [email protected], Cc: , Paul Morris, Vinit Sahni/db/dbcom@DBEMEA, Nay Gupta/- db/dbcom@DBEMEA, Vahe Stepanian/db/dbcom@DBAmericas Date: 03/19/2014 09:03 AM Subject: Paylocity (PCTY) Allocation Jeffrey - You were allocated 1,000 PCTY priced at $17. Will post you with trading color into open. Tazia Forwarded by Tazia Smith/db/dbcom on 03/19/2014 09:00 AM From: Tazia Smith/db/dbcom To: Cc: Vahe Stepanian/db/dbcom@DBAmericas, Jay Lipman/db/dbcom@DBAMERICAS Date: 03/18/2014 07:58 PM Subject: *** PRICING DETAILS *** LEFT BOOKRUN IPO *** PAYLOCITY HOLDING CORP (NASDAQ: PCTY) *** *** APPROVED FOR EXTERNAL DISTRIBUTION Issuer: Paylocity Holding Corp Symbol: PCTY * * * Deal size: 7,045,000 shares (71% primary / 29% secondary) plus 15% greenshoe (35% primary / 65% secondary) *** upsize from 6,670,000 shares Offer price: $17.00 Exchange: Nasdaq EFTA01479519

Trade date: 3/18 Settlement date: 3/24 Bookrunners: Deutsche Bank BAML William Blair Co-managers: Raymond James JMP 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 arrange to send you the prospectus if you request it by calling toll-free 1-800-503-4611 or by mail from Deutsche Bank Securities Inc., 60 Wall Street, New York, New York 10016, or by email at [email protected] Tazia Smith Director I Key Client Partners - US EFTA01479520

Deutsche Bank Securities Inc Deutsche Asset & Wealth Management 345 Park Avenue, 26th Floor New York, NY 10154 Tel. +1 (212) 454-2889 Fax +1 (646) 257-3131 Mobile +1 (917) 327-4107 Email Forwarded by Tazia Smith/db/dbcom on 03/18/2014 07:56 PM From: Nate Hall/db/dbcom@DBCOEX To: Date: 03/18/2014 07:39 PM Subject: *** PRICING DETAILS *** LEFT BOOKRUN IPO *** PAYLOCITY HOLDING CORP (NASDAQ: PCTY) *** APPROVED FOR EXTERNAL DISTRIBUTION *** EFTA01479521