and/or one or more of its affiliates: Deutsche Telekom, Enel SpA, lberdrola, his issuer or an affiliate of the issuer within the next three months: Deutsche his report was issued on or after the 9th day of the month, it reflects the ion on the last day of the previous month. Reports issued before the 9t

herein, including derivative products, give rise to substantial risk, including currency and volatility risk, and are not suitable for all investors. Deutsche Bank transacts business with counterparties on an arm’s length basis and on the assumption that each counterparty is sophisticated and capable of ind

nology companies. He has more than 15 years of investment banking experience and was also an Associate in the Technology Investment Banking Groups at Deutsche Bank and Lehman Brothers. He has advised on a broad range of financings and M&A transactions across a variety of technology industries totaling more