lassification: For internal use only Cool, thanks From: Andrew King Sent: Wednesday, November 29, 2017 2:30 PM To: Stewart Oldfield Subject: RE: DB - Harvest Collateral Yield Enhancement Strategy (I] This is who we've sent it to already: Harvest conversations • Paul Barrett — sent — have engaged with him in follow-up conversation • Third

From: Andrew King Sent: 10/17/2017 12:24:31 PM To: Paul Barrett CC: Stewart Oldfield Subject: RE: DB - Harvest Collateral Yield Enhancement Strategy Paul, You're right that the returns have been around 70bps since Dec 2013. However, it's important to note that this is an overlay strategy, and d

From: Paul Barrett Sent: Monday, October 16, 2017 9:55 PM To: Andrew King Cc: Stewart Oldfield Subject: RE: DB - Harvest Collateral Yield Enhancement Strategy Hi Andrew I reviewed the returns over the past 4 years and they are not that exciting. It has averaged around 70bps return over that time period.

Cc: Stewart Oldfie Subject: DB - Harvest Collateral Yield Enhancement Strategy Paul, I'm an Investment Specialist on Stew Oldfield's team at DB. During your last meeting with Stew, you had discussed a managed option strategy

To: Andrew King < Cc: Stewart Oldfield < Subject: RE: DB - Harvest Collateral Yield Enhancement Strategy Hi Andrew I reviewed the returns over the past 4 years and they are not that exciting. It has averaged around 70bps return over that time period.

together to get this done. Thanks From: Andrew King Sent: Tuesday, October 17, 2017 12:25 PM To: Paul Barrett Cc: Stewart Oldfield Subject: RE: DB - Harvest Collateral Yield Enhancement Strategy Paul, You're right that the returns have been around 70bps since Dec 2013. However, it's important to note that this is an overlay strategy, and d

at ALPHA GROUP CAP ITAL From: Andrew King Sent: Friday, October 13, 2017 5:03 PM To: Paul Barrett < Cc: Stewart Oldfield < Subject: DB - Harvest Collateral Yield Enhancement Strategy Paul, I'm an Investment Specialist on Stew Oldfield's team at DB. During your last meeting with Stew, you had discussed a managed option strategy

From: Stewart Oldfield Sent: 1/26/2018 1:52:55 PM To: Andrew King Subject: RE: DB - Harvest Collateral Yield Enhancement Strategy Did anything happen with this? Thanks From: Andrew King Sent: Wednesday, October 18, 2017 11:17 AM To: Paul Barrett < Cc: Stewart Oldfield < Su

From: Stewart Oldfield Sent: 1/29/2018 5:39:59 PM To: Paul Barrett CC: Andrew King BCC: Subject: RE: DB - Harvest Collateral Yield Enhancement Strategy Paul, Given the recent uptick in vol, does it make sense to discuss this in any more detail? Hope all is well. Thanks From: Paul Barrett Sent: T

ow if you'd like to discuss further. From: Paul Barrett Sent: Monday, October 16, 2017 9:55 PM To: Andrew King Cc: Stewart Oldfield Subject: RE: DB - Harvest Collateral Yield Enhancement Strategy Hi Andrew I reviewed the returns over the past 4 years and they are not that exciting. It has averaged around 70bps return over that time period.

From: Andrew King Sent: 10/18/2017 11:17:1O AM To: Paul Barrett CC: Stewart Oldfield Subject RE: DB - Harvest Collateral Yield Enhancement Strategy Good morning Paul — please let me know when would work best to speak today. From: Paul Barrett (mailt ] Sent: Tuesday, October 17, 2017 11:23 PM

From: Andrew King Sent: 11/29/2017 2:29:54 PM To: Stewart Oldfield Subject: RE: DB - Harvest Collateral Yield Enhancement Strategy [I] This is who we've sent it to already: Harvest conversations • Paul Barrett — sent — have engaged with him in follow-up conversation • Third

From: Stewart Oldfield Sent: 2/5/2018 3:16/1 To: Paul Barrett BCC: Subject: RE: DB - Harvest Collateral Yield Enhancement Strategy This is quite a few days we've been having. I would like to see the market find a floor here, but perhaps it makes sense to revisit the Harvest ove