EFTA01457256.pdf

22OEvx 2015 Page 1 Of 3 Deutsche Bank AG Far Sales Inquirles Contact Daniel Sabba OEFťn9 I For questions relating to this statement contact Valuations RV (Tel) 1-212-250-2600 (Email) [email protected] SOUTHERN FINANCIAL, LLC To: Jabwcpa Gmail (Email) Richard Kahn12 (Email) Hnw Chentserinces (Email) hnw Centservices-n(1.db com.Gedeon Pmedo (Email .Vahe Stepanian (Email) lark Whyman (Email) Amanda Kirby (Email) Paul Morns (Email) Daniel Sabba (Email iane Dwyer (Email) Fx Rabe USD/EUR = 9309686729 Note:-AX Values are shown kom 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 m DB Group favour. The terms and conditions of each transaction are specified In the relevant trade Confirmabon. Deutsche Bank Group ("DB") is providing the valuations set forth above as an accommodabon to you solely for your own intemal use. Unless expressly stated othenvise. valuations represent DB's current economic assessment of the Iransachan or instrument as of the date specified. OB's economic assessment is typicalty derived all or in part kom model pnces, external sources, market prices and/or DErs intemal books and records prices. Valuations may be adjusted to take into account market, bquidity, ererbt, operational or other risks, and/or to reflect adjustments based upon out 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 dechne over time. as DB's anpeilte to unwind at a premium will generally dechne over time, which will lead to lower valuations in the absence of changes in market conditions. Valuations, including those containing Premium Adjusbnents, may not represent the terms at which new transactions c instruments could be entered into with DB or the terms at which existing transacbons or instruments could be liquidated or unwound with DB. DB may change its valuation methodology and the related adjustments and assumptions at any time. so Mal future valuations may be tess favourable than the current ones, even in the absence of an adverse development in market condibons. Valuations based on ddferent assumptions or calculated using other methodologies may also yiekl different results and any adjusbnents may not apply for the duration of the transacbon or instrument. Any subsequent valuations provided to you will almost certainly differ from Mis valuation. This difference can be less favourable to you. and due to the volatility ot market conddions, the size or notional amount of the decrease or increase and other factors. the differential could be substanbal. DB shall not be lieble for any errors or omissions made in calculabng or disseminating valuations. or for any inaccuracies or flaws in the methodologies. adjustments ot assumptions. DB specifically disclaims liability for any losses or damages (incidental. conseduential or otherwise) that may arise from valuations Mat are either used or relied upon by you or any other party for any reason including, without limitation, your use of valuations in preparabon of your own financial books and records. Statement ID 18229820152421 20151)422 1 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0116724 CONFIDENTIAL SDNY_GM_00262908 EFTA01457256