atory regimes; and the "big-boy' letter is legally effective in disapplying any local regulations in respect of private client investor protection. The AWM Internal Review and Approval Process 1 2 3 Deutsche Asset AWM Risk Assessment Diligence An AWM risk assessment is undertaken by Private Markets (see next slide) ■ Solely conducte

atory regimes; and the "big-boy' letter is legally effective in disapplying any local regulations in respect of private client investor protection. The AWM Internal Review and Approval Process 1 2 3 Deutsche Asset AWM Risk Assessment Diligence An AWM risk assessment is undertaken by Private Markets (see next slide) ■ Solely conducte

linking KCP clients is a key part of enhancing AWM's KCP offering and network. AWM New Proposed Framework Vis-a-vis KCP Clients • As on Slide 5. The AWM Internal Review and Approval Process • The standard process for CFP deals is not applicable in these cases. KCP Client Exemption List Suitability & Appropnate ness Committee Only

clients ■ Transfer to NCOU implies assets are 'non-performing' or "bad" assets AWM New Proposed Framework Vis-a-vis KCP Clients ■ As on Slide 5. The AWM Internal Review and Approval Process Internal Risk Disclosure Review KCP Client Exemption List St/dab:My Z. Appropriate ness Committee NCOU AWM Exco 0 or ninmee Ili Full d