EFTA01451151.pdf

9 January 2014 FX Blueprint: Thin end of the wedge Appendix 1 Important Disclosures Additional information available upon request For disclosures pertaining to recommendations or estimates made on securities other than the primary subject of this research, please see the most recently published company report or visit our global disclosure look-up page on our website at httri://qm.db.corWaer/disclosure/DisclosureDirectorv.easr Analyst Certification The views expressed in this report accurately reflect the personal views of the undersigned lead analyst(s). In addition, the undersigned lead analyst(s) has not and will not receive any compensation for providing a specific recommendation or view in this report. Bilal Hafeez/Alan Ruskin/Henrik Gullberg/James Malcolm/Sameer Goel Pago 24 Doutscho Bank AC/London CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 107397 CONFIDENTIAL SDNY_GM_00253581 EFTA01451151