d Average Spread I Coupon Tests Weighted Average Weighted Average Recovery Rate Tests Rating Factor Tests Purchases and Sales Cov-Lite Loans Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 11 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0062689 CONFIDENTIAL SDNY_GM_00208873 EFTA01370091

tion risk • Tested business continuity plan in place whereby employees have remote access to necessary systems (1) Fund Administration Oversight. Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 10 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0062688 CONFIDENTIAL SDNY_GM_00208872 EFTA01370090

are based on the collective team's experience, this includes acting in varying capacities such as a lead arranger and or a financial counterparty. Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 9 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0062687 SDNY_GM_00208871 EFTA01370089

f December 31g 2017. (4) Median Weighted Average Spread of outstanding 2015 vintage BSL CLOS per Morgan Stanley Research. As of December 311, 2017. Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 14 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0062692 SDNY_GM_00208876 EFTA01370094

fee.. Please see notes included at end of presentation for the effect of fees on performance. Past performance is not indicative of future results. Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 13 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL SDNY_GM_00208875 DB-SDNY-0062691 EFTA01370093

31, 2017. (3) Source: Morgan Stanley Research. Represents the average Liquidity Score of all MM CLOs currently outstanding as of December 31. 2017. Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 18 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0062696 CONFIDENTIAL SDNY_GM_00208880 EFTA01370096

uncertainties. Past performance is not indicative of future returns. Source. Deutsche Asset Management as of 03'17 payment date. October 17. 2017. Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 6.00x 5.00x 4.00x 3.00x 2.00x 1.00x 0.00x 16 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0062694 CONFIDENTIAL SD

g amounts based on proprietary Deutsche AM database as of November 1. 2017. No assurance can be given that any forecast or target will be achieved. Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 27 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0062705 CONFIDENTIAL SDNY_GM_00208889 EFTA01370101

presented herein. (2) Indicative based upon current market conditions that may change. There is no guarantee that the objective will be achieved. Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 25 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0062703 SDNY_GM_00208887 EFTA01370100

ns, capital expenditures, liquidity (if relevant)) (1) Strategy shown is indicative and subject to adaptation and change in any particular context. Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 35 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0062713 SDNY_GM_00208897 EFTA01370109

ery from Moody's 'Lessons from a Trillion Dollars in Defaults-April 2017. An equity cushion may not guarantee against a potential rating down-grade Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 30 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0062708 CONFIDENTIAL SDNY_GM_00208892 EFTA01370104

ment nor does it infer any contractual relabonship with any entity mentioned. No assurance can be made that investment objectives will be achieved. Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 32 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0062710 CONFIDENTIAL SDNY_GM_00208894 EFTA01370106

sion and distribution • Renewables • Midstream • Pipelines/District Heating • Toll roads • Ports, rail and airports • Other utility / services Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 33 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0062711 S0NY_GM_00208895 EFTA01370107

orgetown University with a BSBA in accounting. Mr. Woods obtained a Certified Public Accountant designation from the Virginia Board of Accountancy. Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 42 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0062720 CONFIDENTIAL SDNY_GM_00208904 EFTA01370111

ation, and communications sectors. Mr. Kim holds a bachelor's degree in Environmental Economics and Policy from University of California, Berkeley. Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 43 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0062721 CONFIDENTIAL SDNY_GM_00208905 EFTA01370112

ers. Please see the disclaimer at the beginning of this section entitled -Team Credentials. Track Record, and Biographies" for further information. Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 45 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0062723 CONFIDENTIAL S0NY_GM_00208907 EFTA01370114

lio. For more information on all assets. including those not shown herein. please contact us. Past performance is not indicative of future results. Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 50 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0062728 SDNY_GM_00208912 EFTA01370118

lio. For more irdormation on all assets. including those not shown herein. please contact us. Past performance is not indicative of future results. Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 51 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0062729 SDNY_GM_00208913 EFTA01370119

lio. For more information on all assets. including those not shown herein. please contact us. Past performance is not indicative of future results. Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 52 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0062730 SDNY_GM_00208914 EFTA01370120

nding. Al breakdowns are by primary use. Excludes financial services. Allocations are subject to change without notice (3) As of September 30 2017. Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 6 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0062684 SDNY_GM_00208868 EFTA01370086