1 Private Markets STRICTLY PRIVATE & CONFIDENTIAL, FOR INTERNAL DISTRIBUTION ONLY Private Markets Framework: Key Product Channels LAP ® Private Markets: three business lines, RE/Infra via JV with ARA. th All deals subject to full due diligence to AWM fiduciary standards. ® Deals may be originated by Private Markets, or from other sources. ts Deals from other sources (such as AWM clients or CFP) that fall under these business lines go through full due diligence. th Current approval process described in the schematic on the following slide. Deutsche Asset 3 Wealth Manage meet Third Party Funds Global fund launches with leading, 'brand name' GPs. Sourced and structured by AFS PM with full DD, approvals. All AWM clients: • Institutions • KCP • Wealth Management Co-Invest Private Equity Private Equity co- investment deals from most prominent distributed GP relationships. Typically syndicated from positions invested in by AFS DB PE funds, i.e., full with DD/IC approval. Potential to cover sponsored M&A and corporate finance opportunities. i.e.. with an external GP or arranger. Typically: • Institutions • KCP AFS ARA JV Real Estate & Infrastructure RE: Typically development projects, property portfolios and RE operating platforms (e.g. hotels) in London, New York, Germany. Infrastructure: Direct investments in various projects such as energy, transportation, renewables etc. Both sourced and structured by the JV. Typically: • Institutions • KCP 2 CONFIDENTIAL — PURSUANT TO FED. R. GRIM. P. 6(e) CONFIDENTIAL SDNY_GM_00268083 DB-SDNY-0 121899 EFTA01460554