Subject: RE: Butterfly brokerage [C] [I] From: Zbynek Kozelsky <ffi Date: Thu, 11 Oct 2018 10:56:00 -0400 To: Kimberly Hart Coley Jellin haus Cc: zia Memon Diana Canter Funda Bozkurt Zbynek Kozelsky Good morning Kim, Just to offer different perspective — separating of the account may not be only disruptive to the client but also operationally since all the communication, trading is concentrated to KCP (for the balance of the accounts). Thank you fcid:[email protected] Zbynek "Ziggy" Kozelsky Director I Branch Administrative Manager Investment Solutions Group US & Latin America Deutsche Bank Securities Inc. Deutsche Bank Wealth Management 345 Park Avenue, 24th Floor New York, NY 10154 Tel. Email: All trade execution information contained herein is being provided as an accommodation at your request in advance of your receipt of the official trade confirmation(s). Additional trade detail information available upon request. The terms of the trade(s) may be subject to change prior to EFTA01399488

settlement, and therefore the official trade confirmation(s) and account statements issued by Deutsche Bank shall govern. Deutsche Bank is not responsible for any discrepancy between the informal execution report and the official trade confirmation(s) or account statements. This email may contain confidential and/or privileged information. If you are not the intended recipient (or have received this email in error), please notify the sender immediately and delete the email from your computer. Any unauthorized copying, disclosure or distribution of the material in this email is prohibited. From: Kimberly Hart Sent: Thursday, October 11, 2018 10:51 AM To: Coley Jellin haus Cc: zia Memon ; Diana Canter < Bozkurt ; Zbynek Kozelsky Subject: RE: Butterfly brokerage [C] [I] Classification: For internal use only ; Funda It could possibly be treated as another exception but KCP would need to submit a proposal that includes the controls that they would put in place. This one is a bit tricky from my perspective since it would probably be better to keep the KCP conversations directed to him as a KCP-eligible investor separate from the conversations with him as the POA for the Butterfly account which is not KCP eligible. However, if this will be very disruptive to the client relationship, I am willing to review a proposal that would detail controls to ensure that there is no confusion around investments that are or not appropriate for Butterfly. {https://brandportal.intranet.db.com/img/modules/- DAWM_ logo_ metallic 46x46.gif} Kimberly Hart Managing Director I Divisional Control Officer Wealth Management Americas EFTA01399489