EFTA01380812.pdf

Maximum Growth Strategy returns Performance' for taxable client ending 12/31/15 ■ CIO Strategies w/ U.S. Core Equity as U.S. Large Cap Vehicle • Blended Benchmark 12 9.65 10 7.87 8 6.75 6.87 7.04 5.87 6.02 6 4.14 4.73 4 2.33 2 0 -2 -4 -2.53 -6 -8 -10 -12 4Q15 YTD 3 Year 5 Year 10 Year 1/1/05-12/31/15 % Annualized Performance Gross of Fees CIO Strategies - Maximum Growth 2.33% 5.37% 22.27% 16.16% -4.65% 15.89% 34.76% -35.93% 13.97% 16.66% Blended Benchmark -2.53% 3.16% 20.96% 15.68% -4.79% 13 68% 30.30% -37.77% 8.14% 18.86% (') Chart reflects model returns, not actual client returns. Past performance is no guarantee of future results. The returns shown in this document do not reflect Deutsche Bank management fees. The strategies above are for taxable clients where hedge funds are suitable. The CIO Strategy model portfolios commenced on 1/1/05. Please note that returns for the CIO strategy reflect the Core Equity composite as the U.S. large cap implementation vehicle. Please refer to the Important Notes on the next page for detailed information regarding performance and to the Additional Information page at the end of this document for descriptions of the blended benchmarks. Detailed information regarding the Deutsche Bank WM-Americas Core Equity composite can be found in the Deutsche Bank WM —Americas Core Equity pitchbook which can be provided upon request. Deutsche Bank 15 Weryirl *..anll.nf'n.ent CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0079372 CONFIDENTIAL SDNY_GM_00225556 EFTA01380812