Kahn a CC: Darren Indyke Daniel Sabba Vahe Stepanian Paul Morris I I; Stewart Oldfield Subject: Southern Financial Margin Call Attachments: ExposureStatementReport_SOUTHERN FINANCIAL, LLC (8032932)_413614_2015082....xls; Call_SOUTHERN FINANCIAL, LLC (8032932)_413614_20150825123934153.pdf; 182298_20150820_20150821_1.pdf; 182298_2

AG (157) to SOUTHERN FINANCIAL, LLC (8032932) for USD 280,000.00 Attachments: Call_SOUTHERN FINANCIAL, LLC (8032932)_413614_20150226130307005.pdf; ExposureStatementReport_SOUTHERN FINANCIAL, LLC (8032932)_413614_20150226130306777.xls Please find attached: Margin Call from DEUTSCHE BANK AG (157) to SOUTHERN FINANCIAL, LLC (8032932) for

(157) to SOUTHERN FINANCIAL LLC (8032932) for USD 280,000.00 [I) Attachments: Call_SOUTHERN FINANCIAL, LLC (8032932)_413614_20150226130307005.pdf; ExposureStatementReport_SOUTHERN FINANCIAL, LLC (8032932)_413614_20150226130306777.xls Classification: For Internal Use Only Original Message From: CMNY Margin Sent: Thursday, February

From: Sent: To: 2/27/2015 12:23:50 PM Subject: Margin rom DEUT CHE BANK AG 157 to SOUTHERN FINANCIAL LLC 3 32 or USD 260 Attachments: ExposureStatementReport_SOUTHERN FINANCIAL, LLC (8032932)_413614_20150227121223023.xls; Call_SOUTHERN FINANCIAL, lit (8032932)_413614_20150227121223215.pdf Please find attached: Margin Call

rris Sent: 3/2/2015 12:50:38 PM To: Vahe Stepanian Subject: FW: Margin Call from DEUTSCHE BANK AG (E) to SOUTHERN FINANCIAL (IC ( Attachments: ExposureStatementReport_SOUTHERN FINANCIAL, LLC Call_SOUTHERN FINANCIAL, LLC Classification: For internal use only Paul Morris Managing Director Deutsche Bank Private Bank Office: Cell:

t: To: 3/3/2015 2:07:18 PM Subject: Margin Call from DEUTSCHE BANK AG (157) to SOUTHERN FINANCIAL, LLC (8032932) for USD 270,000.00 Attachments: ExposureStatementReport_SOUTHERN FINANCIAL, LLC (8032932)_413614_20150303135416167.xls; Call_SOUTHERN FINANCIAL, LLC (8032932)_413614_20150303135416421.pdf Please find attached: Margin Call

K AG (157) to SOUTHERN FINANCIAL, LLC (8032932) for USD 910,000.00 Attachments: Call_SOUTHERN FINANCIAL, LLC (8032932)_413614_20150306125906100.pdt ExposureStatementReport_SOUTHERN FINANCIAL, LLC (8032932)_413614_20150306125905867.xls Please find attached: Margin Call from DEUTSCHE BANK AG (157) to SOUTHERN FINANCIAL, LLC (8032932) for

37 PM ; CRM•PWM Derivatives Subject: Margin Call from DEUTSCHE BANK AG (157) to SOUTHERN FINANCIAL, LLC (8032932) for USD 550,000.00 Attachments: ExposureStatementReport_SOUTHERN FINANCIAL, LLC (8032932)_413614_20150326121831210.xls; Call_SOUTHERN FINANCIAL, LLC (8032932)_413614_20150326121831383.pdf Please find attached: Margin Call

o: Vahe Stepanian [ Subject: Fw: Margin Call from DEUTSCHE BANK AG (157) to SOUTHERN FINANCIAL, LLC (8032932) for USD 550,000.00 [I) Attachments: ExposureStatementReport_SOUTHERN FINANCIAL, LLC (8032932)_413614_20150326121831210.xls; Call_SOUTHERN FINANCIAL, LLC (8032932)_413614_20150326121831383.pdf Classification: For Internal use O

: To: 5/8/2015 10:19:15 AM Subject: Margin Call from DEUTSCHE BANK AG (157) to SOUTHERN FINANCIAL, LLC (8032932) for USD 770,000.00 Attachments: ExposureStatementReport_SOUTHERN FINANCIAL, LLC (8032932)_413614_20150508100850348.xls; Call_SOUTHERN FINANCIAL, RC (8032932)_413614_20150508100850509.pdf Please find attached: Margin Call

at the following attachments 61125988 (See attached file: Call SOUTHERN FINANCIAL, LLC (8032932)_413614_20140709125835831.pdf)(See attached file: ExposureStatementReport_SOUTHERN FINANCIAL, LLC (8032932)_413614_20140709125835501.xls) EFTA01469611