S0F Ill - 1081 Southern Financial LLC The team's differentiated structuring experience (2003-06) Senior team members participated in DE3's sale of approximately €5bn of private equity assets Deutsche Bank's PE portfolio as of December 31. 2002 Fund Investments Managed Funds Venture Directs Emer. Mkts Directs Direct L BOs Other Germany • Individual fund sales Portfolio auctions • Securrtaation • Spin-in to form secondary business ▪ Asset by asset wind-down with outsourced r in-house management • Secondary spin-out / [ranched portfolio sale • Asset by asset sale and secondary spin-out • Spin-out and sale to MidOcean Partners Asset by asset sale 2003-06 wind-down program I 2 Ebn 6 5 • 4 3 2 • • Private equity funds • Private equity directs SO cote Cb cseb ()% 1% S 414 2002 2003 2004 2005 2006 th Source: Deutsche Bank quarterly reports, publicly available information. The reduction of E.5.1bn in Deutsche Bank's private equity exposure corresponds to the difference in the amounts stated as at December 2006 against December 2002. (2) Unfunded commitment to funds. industrial holdings and other strategic investments not included Note: Charles Smith and Carlo Pirzio-Biroli played a role alongside other DB colleagues in the transactions that contributed to the disposition of Deutsche Barks proprietary private equity portfolio. Charles Smith and Carlo Pirzio-Biroli were not involved in all such transactions and the efforts described above were attributable to the wider whole 08 team rather than any individual within it Deutsche Asset 3 Wealth Menagemen€ 34 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0 109208 SDNY_GM_00255392 EFTA01452285