RRP72 - Southern Financial Benefits Provided by the DB Platform Extensive real estate & asset management capabilities of the DB Platform provide the Partnership with the focus, depth and scale needed to execute its strategy. 1 2 4 5 6 Platform Capability Disciplined Investment Process Sophisticated View on Markets and Competitive Trends Expertise in Counterparty and Real Estate Credit Underwriting Extensive Real Estate Acquisition and Disposition Experience Deep Leasing Knowledge Asset Management Experience Deutsche Asset W.≥alm Benefit Provided to Partnership • DB Platform's rigorous investment and risk management processes have been developed and refined over multiple real estate cycles. • Team will use and adapt the rigorous investment process in connection with the Team's evaluation of potential project opportunities. • DB Platform maintains House Forecasts, Qualitative Inputs and a Quantitative Allocation Model to address risk and opportunity across markets and sectors. • Team believes that having access to this type of proprietary analysis will enhance the Team's overall project screening and evaluation efforts. • DB Platform has extensive experience performing comprehensive risk-reward analysis on prospective projects, with a focus on relative values among target assets. • Team expects to leverage this expertise to ensure that counterparty and real estate credit risks are appropriately assessed and used in project structuring and analysis. • Since 2003, U.S. transactions group has acquired >350 assets ($25 billion+) and disposed >500 assets ($22 billion+) across multiple property types. • Team believes that this extensive experience may provide valuable insights to the Partnership in structuring certain retrofit projects. • Asset Management team is responsible for overseeing the leasing the 100.7m sq. ft. US portfolio representing >5,800 tenants. To maintain stabilized occupancy, the Asset Management team works closely with tenants and leasing brokers in all major markets in the US. Team will draw upon the DB Platform's multi-decade tenant leasing experience, allowing the Team to more effectively structure projects and to target attractive market categories. • Asset management relationships contribute significantly to the broader real estate network and information advantage available to all of the firm's teams. • Team expects to access this experience and these relationships as part of its efforts to source and manage high-quality retrofit projects. RREEF Retrofit Partners. L.P. For U.S. Person Clients of the U.S /Americas Key Client Partners Desk Only June 2014 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0112844 SDNY_GM_00259028 EFTA01454614