set Allocation MIC' Regional Asset Allocation it Security Selection PIC3 Quality Management 'MIC = Multi Asset Investment Committee 2RIC = Regional Investment Committee 3PIC = Portfolio Implementation reCommendation Source: Deutsche Bank Wealth Management Deutsche Bank Wery,Ith Manooement Portfolio Management

et Investment Process CIO View It Research at Plifflffirr Global Asset Allocation MIC1 (1) MIC = Multi Asset Investment Committee (2) RIC = Regional Investment Committee (3) PIC = Portfolio Implementation recommendation Source: Deutsche Bank Wealth Management Deutsche Bank Portfolio Construction Regional Asset

ome Credit 2.6% Satereig06' 32.5% Emerging markets 25% Cash 3 0% Commodities Commodities 1 0% Alternatives Alternatives 10.0% Sources. Regional Investment Committee ;RIC), Deutsche Asset & Wealth Management Investment GmbH, Deutsche Bank Trust Company Americas, as of 8118/15. This allocation may not be suitab