From: Paul Morris Sent: 3 14 2014 3:38:27 PM To: Subject: Fw: 110/86, 105/90.25 IC] Classification: Confidential he decided not to trade today Paul Morris Managing Director Deutsche Bank Private Bank 345 Park Avenue, 27th Floor Sw ew York NY 10154 Forwarded by Paul Moms. on 03/14201403:38 PM -- From. Tazia Smith To. [email protected]. Cc: Paul Morris, Vinit Satin!, Date. 03/14/2014 01:28 PM Subject Re: 110,86. 1099025 (c) Nay Gila Vahe Stepania Classification: Confidential Jeffrey - Initial Margin is 13%. 13% = $1,118,000 for 100k bbls 110/86 13% = $1,173,000 for 100k bbls 105/90.25 put the $20/bbl KO not given weight in Credit Risk Management's calculation model given the statistical unlikelihood. From. Tazia Smin To. Jeffrey Epsteri yeevacabonegmall.com>60EUBAINT, Date. 03114/201412:57 PM Subject: Re: 11098 10590.25 ICJ Classification: Confidential IM: 13% CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 110795 CONFIDENTIAL SDNY_GM_00256979 EFTA01453273