currency against -3% local equities, local 10Y bonds, S&P, 10Y USTs, USD 711/I, Oil and Sovereign CDS (where available) -4% ■ Rich/Cheap (+/-) IDR KRW PHP TWD CNY SGD INR MYR THB Source: Bloomberg Finance LP CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0080353 CONFIDENTIAL SDNY_GM_00226537

ed on a 3-year regression of the currency against local equities, local 10Y bonds, S&P, 10Y USTs, USD TWI, Oil and Sovereign CDS (where available) IDR KRW PHP TWD CNY SGD INR MYR THB Source: Bloomberg Finance LP EFTA01475289