EFTA01447133.pdf

We are trading very similar to where we were Friday morning after this morning's large rally. M4 WTI is trading $100.74 and the 93.5/101 collar is now worth S1.55 again. You can see the decay kicking in a bit as we are 12c higher in flat price, but the option is worth the same as Friday. To give you a sense, the collar closed yesterday (before the big rally) at $1.10. Thanks, Matt From: Matthew OConnor Sent: Friday, April 04, 2014 10:40 AM To: 1jeevacation©gmail.com' Cc: Tazia Smith; Paul Morris; Jatin Bindal Subject: Oil update [C] Classification: Confidential Jeffrey — Good morning. Post payrolls, WTI has rallied about 1%. Your M4 93.5/101 collar is now worth $1.55 with M4 WTI trading at $100.62. The equity rally is fading a bit and to be honest, expecting a soft commodity close as well going into the weekend. Thanks, Matt Matthew O'Connor Managing Director I Commodity Investor Sales Deutsche Bank AG 60 Wall Street Now York. NY Grand Slam! For the fourth year running, Deutsche Bank ranks No 1 in Overall US Fixed Income, according to the industry benchmark client study by Greenwich Associates. 2013 Pilint0Whr Peeftwirst CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0101665 CONFIDENTIAL SDNY_GM_00247849 EFTA01447133