EFTA01370438.pdf

Disciplined Investment Process Drives Performance Selectivity Drives Performance Extensive relationships with financial sponsors, advisors and banks lead to a robust pipeline of investment opportunities • Market position and specialized expertise results in greater investment discipline and selectivity • Active and specialized investing style provides early access to deals, ability to influence terms, and facilitate desired allocations Deals Reviewed vs. Investments Made — Infrastructure Debt Team # of Deals Deals Invested/ Deals Reviewed (%) 30 100% I- 90% 24 5°% 7• 0% 18 60% 12 I.• 5°0% /0 I- 30% 6 - 1 20 IL 10% 0 111 1/M AO 1 - 11 I 1 3O14 4O14 1Q15 2O15 3O15 4O15 1O16 2O16 3Q16 4O16 1O17 2Q17 3Q17 4Q17 Investments —Deals Reviewed - % Invested For illustrative purposes only. No inference can be made that completed deals would be more or less profitable to a potential investor. Past performance is not indicative of future results. Source: Deutsche Asset Management as of December 31, 2017. Deutsche Asset Management Infrastructure Debt Presentation: RN II Equity March 2018 22 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0063240 CONFIDENTIAL SDNY_GM_00209424 EFTA01370438