EFTA01459747.pdf

8 February 2016 US Equity Insights Energy exposures of S&P Banks Overall energy exposure remains relatively modest (1-4% of total loans outstanding) and reserves on these loans already range from 2-7%. ' Figure 27: Ban! entrgv loan d'scbwr Bank by bank energy ban disclosure Total Funded Energy subsectors Reserves as Total Exposure Ticker Icons ($m) % E8P OFS Integrated M other crabbed % of bans (Inc Unfunded) % IG BAC 21 257 65% 4.900 3.100 5 600 7.200 22% 23% 43,811 80% C 20,500 68% 6.200 5600 1,910 4.1% 58.000 79% CFG 1 603 700 Elm 1300 748 306 36% 48% FHN • GS 1,803 /T% 10.600 60% HBAN 250 60% 13,800 50% 60% 42.100 66% KEY 1,200 1,203 31% 60% M6 400 1100 16.000 60% pos • PNC 2,600 700 1,000 AF 3,214 910 7t 1.264 26% 60% 511 3,002 3340% 1.201 1.031 20% 45% USE 3203 70% 2.112 320 769 54% WFC 17.000 4250 6.750 7.1% San.. Company asolosn. Deaulso Sent "canons BAC BO% ay vas, eavosve es Axelnon the .40 74 cwmws car GAG 1700m e, 0:Onewled Anne based and ors atom JPAI Atertm• Anal 01 500 Pion 57I a hi resew b eedni amain &Mona& inana PG DS tomes NYC. AR ew inciales 52 Si et easy and akr emesnons newel b SAC C Ana-at &loam° a &canon.aawwa no DB nehmen Figure 2;31 High Yield Energy credit spreads (bps) Fig re 29: High Yield Energy basket price FA total returns 2.000 6110 700 1,803 5110 1.m ANY Energy 51CO 500 1.403 1.203 593 1.003 583 803 603 570 403 510 1C0 203 550 0 2000 2002 2004 2006 2006 2010 2012 2014 2016 2003 2032 2004 2006 20011 2010 2012 2014 2016 01ts) Return Index (ms) Source Oart7. are Dttni Savor. Oeuro:he dra DIII0 Deutsche Bank Securities Inc. Page 13 CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0120407 CONFIDENTIAL SDNY_GM_00266591 EFTA01459747