Please let us know if you have any questions or comments —thanks! Regards, Davide Davide Sferrazza Analyst I Key Client Partners Deutsche Bank Securities, Inc. Deutsche Bank Wealth Management P rk Avenu 1 -0004 New York, NY,

Please let us know if you have any questions or comments —thanks! Regards, Davide Davide Sferrazza Analyst I Key Client Partners Deutsche Bank Securities, Inc. Deutsche Bank Wealth Management P rk Avenu 1 -0004 New York, NY, USA CONFIDENTIAL

most WM clients. Please feel free to reach out if you have any further questions, and we'll be happy to address. Regards, Davide <image001 gif> Davide Sferrazza Analyst I Key Client Partners Deutsche Bank Securities. Inc. Deutsche Bank Wealth Management 345 Park Avenue. 10154-0004 New York, NY, USA Tel

[C] Got it. Thanks. Paul Barrett Alpha Group Capital LLC 142 W S7 t' Street 111 Floor New York, NY 10019 (o) (c) On Sep 19, 2018, at 6:26 PM, Davide-A Sferrazza < wrote: Classification: Confidential Paul, I tried reaching out last week regarding the attached notice that you received, but was n

removal, as it is the wrong client (different Elysium). Please do not hesitate to reach out with any questions at all. Thank you. Regards, Davide Davide Sferrazza Analyst I Key Client Partners Deutsche Bank Securities, Inc. Deutsche Bank Wealth Management 345 P ork, NY, USA Tel. Mobi Em From: Nina Tona

ked for removal, as it is the wrong client (different Elysium). Please do not hesitate to reach out with any questions at all. Thank you. Regards, Davide Davide Sferrazza Analyst I Key Client Partners Deutsche Bank Securities, Inc. Deutsche Bank Wealth Management 345 P ork, NY, USA Tel. Mobi E

e could consolidate the Southern Financial LLC assets (i.e. move assets from the collateral account to the main trading account). Regards, Davide Davide Sferrazza Associate I Investments & Trading I Institutional Wealth Partners Deutsche Bank Securities Inc. Deutsche Bank Wealth Management 345 Park Avenue,

point we could consolidate the Southern Financial LLC assets (i.e. move assets from the collateral account to the main trading account). Regards, Davide Davide Sferrazza Associate I Investments & Trading I Institutional Wealth Partners Deutsche Bank Securities Inc. Deutsche Bank Wealth Management

From: Davide-A Sferrazza Sent: 11/6/2017 8:30: To: Stewart 0ldfield CC: Vaho Stepanian ; Liam Osulliva Subject: Southern Financial Trade Report - Week of

Stew, Martin Zeman Please find last week's trade details for Southern Financial attached. Let us know if you have any questions. Regards, Davide Davide Sferrazza Analyst I Key Client Partners — US Deutsche Bank Securities, Inc. Deutsche Bank Wealth Management 345 P York, NY, USA Tel. + Mobil Email CON

not the case for most WM clients. Please feel free to reach out if you have any further questions, and we'll be happy to address. Regards, Davide Davide Sferrazza Analyst I Key Client Partners Deutsche Bank Securities. Inc. Deutsche Bank Wealth Management 345 Park Avenue. 10154-0004 New York. NY, USA CONFI

From: Davide-A Sferrazza Sent: 9/19/2018 6:26:18 PM To: Paul Barrett CC: Stewart Oldfield I; Martin Zeman Liam Osullivan Subject: DB Initial Margin Segr

Davide Sferrazza Analyst I Key Client Partners Deutsche Bank Securities, Inc. Deutsche Bank Wealth Management 345 Park Avenue. 10154-0004 New York. NY. USA Tel.

el. Mobil Ema From: Nina Tona Sent: Thursday, October 25, 2018 2:09 PM To: Victoria Bruce < Cc: Max Kleinert ; Tanushree Kirti Ian Salters ; Davide-A Sferrazza Subject: RE: Family Office Initiative - Follow Up [I] [SC] Adding Davide. Nina Tona Associate Business Control Manager, Key Client P

removal, as it is the wrong client (different Elysium). Please do not hesitate to reach out with any questions at all. Thank you. Regards, Davide Davide Sferrazza Analyst I Key Client Partners Deutsche Bank Securities, Inc. Deutsche Bank Wealth Management 345 Park Avenue. 10154-0004 New York. NY, USA Tel.

From: Davide-A Sferrazza Sent: 10/25/2018 7:29:39 PM To: Nina Tona ; Victoria Bruce ; Tanushree Kirti ~ CC: Max Kleinert [ ; Ian Salters Subject: RE: Fa

ht place - I only saw an old KYC. Perhaps when I stop by you can show me how to get to it. Thanks, and have a great long weekend! Regards, Davide Davide Sferrazza Analyst I Key client Partners Deutsche Bank securities, Inc. Deutsche Bank wealth Management 345 Park Avenue 10154-0004 New York, NY, USA Tel. m

alth Management 345 Park Avenue, 24th Floor New York. NY 10154 Securities offered through Deutsche Bank Securities Inc. original Message From: Davide-A Sferrazza Sent: Friday, August 31 2018 5:47 PM To: Richard iarossi < Subject: RE: Butterfly Trust - newbrokerage account needed [I] Classificat

From: Stewart Oldfield [[email protected] Sent: 6/15/2018 2:48:34 PM To: Davide-A Sferrazza [[email protected]) CC: Martin Zeman [[email protected]] Subject: RE: Southern Financial Relationship - YTD 2018 Brokerage

ip. Working on putting together something that captures OTC trades as well (FX and Rates). Let us know if any questions, thanks! Regards, Davide Davide Sferrazza Analyst I Key Client Partners Deutsche Bank Securities, Inc. Deutsche Bank Wealth Management 345 Park Avenue. 10154.0004 New York, NY, USA Tel.

From: Stewart Oldfield Sent: 2/26/2018 10:57:35 AM To: Davide-A Sferrazza Subject: RE: Southern Financial Relationship - YTD 2018 Brokerage Revenues [C] Were you able to get the OTC numbers? Thanks From: Dav

ip. Working on putting together something that captures OTC trades as well (FX and Rates). Let us know if any questions, thanks! Regards, Davide Davide Sferrazza Analyst I Key Client Partners Deutsche Bank Securities, Inc CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0071075 CONFIDENTIAL SDNY_

From: Davide-A Sferrazza Sent: 2/20/2018 4:28:41 PM To: Stewart 0ldfield CC: Xavier Avila Martin Zeman ; Joshua Shoshan ; Liam Osullivan Subject: So

ip. Working on putting together something that captures OTC trades as well (FX and Rates). Let us know if any questions, thanks! Regards, Davide Davide Sferrazza Analyst I Key Client Partners Deutsche Bank Securities, Inc. Deutsche Bank Wealth Management 345 P New York, NY, USA Tel. « Mobil Email CONF

From: Davide-A Sferrazza Sent: 2/8/2018 12:03:02 PM To: Nina Tona CC: Martin Zeman ; Liam 0sullivan Subject: Southern Financial KYC dots ICI Attachments:

uthern Financial LLC Financials June 2017" and "Southern Trust Company Inc. Financials June 2017" for latest financial statements Regards, Davide Davide Sferrazza Analyst I Key Client Partners Deutsche Bank Securities, Inc. Deutsche Bank Wealth Management 345 Park Avenue. 10154-0004 New York, NY, USA CONFI

From: Davide-A Sferrazza Sent: 12/11/2017 10:06:05 AM To: Stewart Oldfield I ; Liam Osullivan ; Martin Zeman ; Joshua Shoshan CC: Xavier Avila Subject:

executed two FX forwards last week for an additional $2k of revenue (USDARS and EURCHF). Let us know if you have any questions. Regards, Davide Davide Sferrazza Analyst I Key Client Partners Deutsche Bank Securities, Inc. Deutsche Bank Wealth Management 345 -0004 New York. NY, USA Tel. Mobile Email C

fboard list? Can you find out the rationale for each account (i.e. whether it is a remediation/commercially-driven offboard)? Thank you. Regards, Davide Davide Sferrazza Analyst I Key Client Partners Deutsche Bank Securities, Inc. Deutsche Bank Wealth Management 345 Park Avenue. 10154.0004 New Yo

ist? Can you find out the rationale for each account (i.e. whether it is a remediation/commercially-driven offboard)? Thank you. Regards, Davide Davide Sferrazza Analyst I Key Client Partners Deutsche Bank Securities, Inc. Deutsche Bank Wealth Management 345 Park Avenue. 10154.0004 New York. NY, USA Tel.

From: Richard larossi Sent: 9/4/2018 3:19:25 PM To: Davide-A Sferrazza Subject: RE: Butterfly Trust erage account net ed II) classification: For internal use only Hi Davide, The latest approved KYC is 0

ht place - I only saw an old KYC. Perhaps when I stop by you can show me how to get to it. Thanks, and have a great long weekend! Regards, Davide Davide Sferrazza Analyst I Key Client Partners Deutsche Bank Securities, Inc. Deutsche Bank wealth Management 345 Park Avenue, 10154-0004 New York, NY, USA Tel.

removal, as it is the wrong client (different Elysium). Please do not hesitate to reach out with any questions at all. Thank you. Regards, Davide Davide Sferrazza Analyst I Key Client Partners Deutsche Bank Securities, Inc. Deutsche Bank Wealth Management 345 Park Avenue, 10154-0004 Nev, York, NY, USA Tel.

ked for removal, as it is the wrong client (different Elysium). Please do not hesitate to reach out with any questions at all. Thank you. Regards, Davide Davide Sferrazza Analyst I Key Client Partners Deutsche Bank Securities, Inc. Deutsche Bank Wealth Management 345 Park Avenue, 10154-0004 Nev, Y

removal, as it is the wrong client (different Elysium). Please do not hesitate to reach out with any questions at all. Thank you. Regards, Davide Davide Sferrazza Analyst I Key Client Partners Deutsche Bank Securities. Inc. Deutsche Bank Wealth Management 345 Park Avenue. 10154-0004 New York. NY, USA CONFI

Global Macro Fund LLC Xavier Avila Best, Tanu Tanu Kirti Director WM Mercury Implementation Programme Manager Tel. Mob' Email t WMM From: Davide-A Sferrazza Sent: 26 October 2018 00:30 To: Nina Tona ictoria Bruce a Tanushree Kirti Cc: Max Kleinert Ian Salters ea Subject: RE: Family Offi

Regards, Davide Davide Sferrazza Analyst I Key client Partners Deutsche Bank securities, Inc. Deutsche Bank wealth management 345 Park Avenue 10154-0004 New Yor

Regards, Davide Davide Sferrazza Analyst I Key client Partners Deutsche Bank securities, Inc. Deutsche Bank wealth management 345 Park Avenue 10154-0004 New York, NY, USA Tel. M

ee below. you have one outstanding OTC position on, which should be straightforward to unwind. Note that it is hedging a bond you own. Thanks From: Davide-A Sferraua Sent; Wednesday, Februa 06, 201912:05 PM To: Stewart Oldfield Subject: Southern Financial OTC trade on the books Stew, Southern Finan

INSURED DEPOSITS PROGRAM 037831100 PEW80411 176.4600 1.0000 17 546.000 00 ;Will 3? 1.0)00) 1.00000 17346.00000 73 09133 EWA MONEY FUND Davide Sferrazza Associate I Investments 6 Trading l Institutional Wealth Partners Deutsche Bank Securities Inc. Deutsche Bank Wealth Management 03 5 Park Avenue