EFTA01452269.pdf

SOF III - 1081 Southern Financial LLC Secondary market dealflow continued in 2012 Transaction volumes dominated by financial institutions and public pensions Secondary Market Value 2003 - 2013 2012 transaction value by seller type USSbn ■ Financial Institutions / Insurance ■Secondary Directs • Secondary LPs 30 ■ Public Pension Asset Manager 25 0 25.0 25 ■Corporate Pension 2(' 20 9 ■ Government Agency 20 ■ Endowment / Foundation 16.4 15 2012 transaction value by seller geography 103 10 9.2 8.5 Z1 7.5 ■ North America ▪ Europe u Rest of World — 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013E Source: DB PE based on Cogent Secondary Pricing 'Trends & Analysis and UBS Outlook 2013. both January 2013 Deutsche Asset Wealth Managerneni 13 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 109187 CONFIDENTIAL SDNY_GM_00255371 EFTA01452269