EFTA01452285.pdf

S0F Ill - 1081 Southern Financial LLC The team's differentiated structuring experience (2003-06) Senior team members participated in DE3's sale of approximately €5bn of private equity assets Deutsche Bank's PE portfolio as of December 31. 2002 2003-06 wind-down program I 2 Ebn 6 • Individual fund sales • Private equity funds Portfolio auctions • Private equity directs Fund Investments • Securrtaation 5 • • Spin-in to form secondary business 4 SO cote Managed Funds ▪ Asset by asset wind-down with outsourced r Cb in-house management cseb Venture Directs • Secondary spin-out / [ranched portfolio sale ()% 1% 3 Emer. Mkts Directs • Asset by asset sale and secondary spin-out S 414 2 • Other • Spin-out and sale to MidOcean Partners Direct L BOs Germany Asset by asset sale 2002 2003 2004 2005 2006 th Source: Deutsche Bank quarterly reports, publicly available information. The reduction of E.5.1bn in Deutsche Bank's private equity exposure corresponds to the difference in the amounts stated as at December 2006 against December 2002. (2) Unfunded commitment to funds. industrial holdings and other strategic investments not included Note: Charles Smith and Carlo Pirzio-Biroli played a role alongside other DB colleagues in the transactions that contributed to the disposition of Deutsche Barks proprietary private equity portfolio. Charles Smith and Carlo Pirzio-Biroli were not involved in all such transactions and the efforts described above were attributable to the wider whole 08 team rather than any individual within it Deutsche Asset 3 Wealth Menagemen€ 34 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 109208 CONFIDENTIAL SDNY_GM_00255392 EFTA01452285