Deutsche Asset & Wealth Managment Multi Asset Investment Committee (MIC) forecasts 30.4esTreaswy 20% 1.7% In 51% -1.1% 69% 11.1% 24% 4.3% te% 0.51 -on a" 02% -05%-01% -1.4% 14% FC6th;f1£IS 2016 Key ao.itudjn bord yield FcA.ri:,ed; ez:i1CIr4^, se,,,,;nitx. , 2':6 USA (S&P 500) Etnozone (Euro STOXX 50) Germany (DØ UK (ETSE 100) Japan (MSCI Japan)) Asu ex Japan (MSC' in USD) teat America (1ASC1 in USD) 2.160 3.600 11.400 6,500 1,020 510 1.700 USA ~many UK Japan 225 0.75 2.15 0.35 September 201e OfI (WTI) Gold in USD Forecasts are from the DeAVVM Quarterly Chief Invesimenl Office (CIO) Day on September 21, 2015. Facts and Figures -2569 -555~-. :94 isTO 010 1-00 1215 r"›. 3""' 5 Vs« Rewn ReWn Relv4 RMun ea,. Ree4" Rtmn{An% 5144, 0444 55 1250 EUR/USD USCIMPY EUR/JPY EUR/GBP USCPG8P too 130 130 0.67 1 49 145 TM mo no Re». Raton Raw Ram 12 21444 149.2 em Rah" NR 3 Wm Ram rette 51es Rein 4440 2Teee Tram.° 0 6% 0.1% 0.3% 03% 00% 1.1% Oa 06% ant SAP 503 19200 .06% .23% 44% -5.114 •04% 91% 12.4% 1351 10.4.94 Tr..., 21% 10% 1.4% 29% 24% 60% 5.2% 1.4% 315 1.1512119914(USDi 311.7 46% -3.6% 43% 499% 42% 25% 7,5% 244 41921 Etro» ex (RI ØI 111111/1501 11117 -On 41.0% -100% 42% -121% -34% 30% 4911 Ifercle9e 045 33% 02% 0911 06% -05% 1.5% 40% 80% OM MSCIaepSØl 9723 -17% 47% -11.7% 0.5% -IA% -05% 92% 01% "se>" s "I' 50% .1.2% -19% -49% 425% 4.4% 1.7% an »94 eat*" em1eg4er ox a" .13% -2.4,4 .i." 33% 13% ieel 4095 43% 40% 41% -07% 65% 61% 1150 Lame »SDI 15M.6 01% -245% -551 -365% -219% -17.5% -117% 47% 415CI A» et 50615Di 4632 02% .169% -1$3% •12I% -24% 02% 07% Iteles114.4195% IV& WO OTO YTD 12145 144% MM onang Char. Chem Chan; Cnerg 'Yew 5 Yaw elan 4.5 •On son •on •On Ch." Ch". 494/ »9 541 144I bp) Ta441 19-499 Gm* 5114•45100 40 ligh »WO Speed, 430 570 954.9491.49me„ 22 , 0 9/4454 Fed Funds Ram 05 000 50 23 »II MI 154 147 400 03 40 000 000 oce 114.41Welui94m WA MID 070 YTD 12~5 2"y 3"e% Sven 09454 50554 Ø 124444 C57444 11995 ~04 530 23.0 16.0 00 35.4 50049 059 163 -010 447 -I.» -1.30 43» 020 2» 1.42 2050 1090 70 90 »90 19444 PIC %TIM 153 -013 445 495 -031 032 251 O.» NW Ewen« Ulf At 1320 GO 0 107 0 1320 150 OW -110 -1l0 -0.$9 -0.7$ 020 3.05 1,51 hMl 000 000 000 000 ~UK PÆILTMI 0.0 000 .0.» 471 006 -0.7/ 040 1.03 1.0? connemirankenalkns weir 3%,« 5Year ctn., I-VA WEI OTD 4.D 1215 Ream Rain mw, Return Rain Rem. Rea Reump e.,, (4,4) 54n) "IN F °V.'ar» 04l I .11% 44% .24 1%45 411-5051.43 -0I 2% .10 I% ~Fula, 1I II& -27% .15% 494 415 40% -63% -143% -02% 13•15D-01•54•4 903.0 4.4% 43% 125% 151%.151%.33.0% 55% -7.!% RegAerU Orealed 2, n Peke Trad•W49444 -2 059145.-01% 45% 00% 22% -31.2% 454% -33% 01% 04% Oa 01% 121% 00% (II% 41% VOI5dee 24,5 10.7% .134% 344% 279% 502% 21.5% 110% 07% Current data as of Sep ember 30. 2015. Data source Deutsche Asset & Wealth Pi:lanai:1~ October 2. 2015 IASCI 9~ PIE ILTMl 145 -059 -355 -3620 4303 45115 44.13 4190 Warn PIE ILTY9 123 -567 49/ .2K• • I.71 -040 .153 5150 An» 45 RE " 5.05 -0,7 -I .057 -091 .105 45S iteityfinertostrePubOsinflak Relay* 0.941 SInn7IIT 4444 115112 31% Me 095944. Ian', Inept orem., 141111119 54149:0 21% 4206 75% -21% 1451 Wald 20% 4121 70% -20% LISCI Europe« UR 31% 4342 05% A 6% MSC' UK 39% 4676 22% 42% IRO »tam 14% 41 54 Ill% -01% 14.591494 re 96 26% 4261 79% -57% 4ISCI Japan 17% 5346 153% 0% FactSet, negative numbers are in red. No assurance can be given that any forecast or target can be achieved. Forecasts are based on assumptions, estimates, opinions and hypothetical models which may prove to be incorrect. Past performance is not indicative of future returns. Investments come with risk. The value of an investment can fall as well as rise and you might not get back the amount originally invested at any point in time. Your capital may be at risk. 5 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL SDNY_GM_00264829 DB-SDNY-0 18645 EFTA01458644