EFTA01462203.pdf

Life to Date Performance of Equity in DB Structured CLOs(1) DB Structured CLO Equity Performance (Based on Current Trading Value of Equity)t~) As of January 31. 2014 • 17.5% average IRR on DB arranged US 35% CLO equity (arranged between 2004 and 1st 30% 29.65% half 2007) s 130% - 197% of dividends to equity 25% 24.40% 22.41% holders 22.10% re IY - 20% 17.91% 18.97% 17.55% 16.10% 6.34% o 12.12% , 15% -J 12.84% 13.37% 11.22% to% I 8.39% 5 0% ary ,p1 AA1 cpc,if?„eq1 re 1 3oa./ 3oz- 3+61 ceet et, eft 1 41 ,re ," 4# 40 4* CLO Issue Date Deutsche Bank Source: Intro, CS Trading - As of January 31. 2011. Each bar represents an individual CLO avenged by DB 18 Corporate Banking & Securities (I) Past performance is not indicative of future results. DB is not making any representation as to the profitability of any financial instrument or economic measure. Assumptions, opinions and °situates expressed constitute our judgment as of the dale of this material and are subject to change without notice. Art investment in this type of transaction may result in the lasso( your entire investment (2) IRAs based on realized cash destribulons to equity plus an assumed sale price at the current equity mark to market CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0124637 CONFIDENTIAL SDNY_GM_00270821 EFTA01462203