EFTA01379438.pdf

22 December 2017 EM Currency Handbook 2018: Still Fuel in the Tank Appendix 1 Important Disclosures *Other information available upon request Prices are current as of the end of the previous trading session unless otherwise indicated and are sourced from local exchanges via Reuters, Bloomberg and other vendors . Other information is sourced from Deutsche Bank, subject companies, and other sources. 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 httgam.db.corn/ger/disclosure/DisclosureDirectory.egsr. Aside from within this report, important conflict disclosures can also be found at https://gm.db.com/equities under the "Disclosures Lookup" and "Legal" tabs. Investors are strongly encouraged to review this information before investing. 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. Drausio Giacomelli/Jed Evans/Sebastian A. Brown/Gautam Kalani/Perry Kojodjojo/Mallika Sachdeva Deutsche Bank Securities Inc. Page 111 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0076914 CONFIDENTIAL SDNY_GM_00223098 EFTA01379438