EFTA01457431.pdf

e an raup a on eme 22 Pilay 2015 SOUTHERN FINANCIAL, LLC Page 1 Of 3 Regtlee As of 21 May 15 Deutsche Bank AG Fa Sales Inquirles Contact Daniel Sabba ! --el t, For questions relating to Mis statement contact Valuations NY (Tel) 1 (Email) SOUTHERN FINANCIAL, LLC To: Jabwcpa Gmail (Email) Richard Kahn12 (Email) Hmv Clientserymes (Email) Gedeon Pinedo (Email) Vahe Stepanian (Email) Mark Whyman (Email) >Amanda Kirby (Email) Paul Atoms (Email) Daniel Satte (Email) Ariane Dwyer (Email) Fx Ree: USD/EUR= 8993210126 • Values are shown from the DB Group's point of view. A negative Value therefore expresses an amount which is in your favour, while a positive amount is one which is in DB Group favour. The terms and conditions of each transaction are specified In the relevant trade Confirmation. Deutsche Bank Group ("DB") is providing the valuations set forti above as an accommodation to you solely for your own intemal use. Unless expressly stated othenvise. valuations represent DB's current economic assessment of the transaction or instrument as of the date specified. [es economie assessment is typically derived all or in part from model pnces. external sources, market prices and/or DErs intemal books and records prices. Valuations may be adjusted to take into account market, bquidity, credit, operational or other risks, and/or to refleet adjustments based upon our willingness to unwind all or part of your position or revenue that has been generated but not yet recognized by DB ("Premium Adjustments"). Such Premium Adjustments will generally always deebne over time. as DB's anpeilte to unwind at a premium will generally dedine over time, which will lead to lower valuations in the absence of changes in market conditions. Valuations, including Chose containing Premium Adjustments, may not represent the terms at which new transactions or instruments could be entered into witti DB or the tenns at which existing transactions or instruments could be liquidated or unwound wich DB. OB may change its valuation methodology and the related adjustments and assumptions at any time. so Mat future valuations may be Ins favourable than the current ones, even in the absence of an adverse development in market conditions. Valuations based on ddferent assumptions or calculated using other methodologies may also yield different results and any adjustments may not apply for the duration of the transaction or instrument. Any subsequent valuations provided to you will almost certainly differ from Mis valuabon. This differente can be less favourable to you. and due to the volatility of market conditions, the size or notional amount of the decrease or increase and other factors. Me differential could be substantial. DB shall not be liable lor any errors or omissions made in calculabng or disseminating valuations. or for any inaccuracies or flaws in the methodologies. adjustrnents or assumptions. DB specifically disclaims liability for any losses or damages (incidental. conseouential or otherwise) that may arise from valuations that are either used or relied upon by you or any other party for any reason including, without limitation, your use of valuations in preparahon of your own financial books and records. Statement ID : CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0116978 CONFIDENTIAL SDNY_GM_00263162 EFTA01457431