operating Dividends, Regulation 2020E CETI 2019-2020E and others, capital ratio 2019-2020E expenses at constant FX rabs, 4017 is a company est Deutsche Bank Research• Ettopean Equity Focus —Jammu 2018 CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) CONFIDENTIAL 1:; DB-SDNY-0086798 SDNY_GM_00232982 EFTA01385512

cal & Water 1% Other steel 11% Packaging 4% Transformation 12% Some: Deutsche Bank Auto 20% Other sales 8% Distribution 26% Construction 18% Deutsche Bank Research• Ettopean Equity Focus —Jammu 2018 CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0086806 SDNY_GM_00232990 EFTA01385520