EFTA01458592.pdf

Important Information Deutsche Asset h Wealth Management represents the asset management and wealth management activities conducted by Deutsche Bank AG or any el its subqdiaries. Clients will be provided Deutsche Asset & Wealth Management products or SOIViecTS byono or more legal entities that well be identified to clients pursuant to the contracts, agreements. &tieing it atelials or other documentation rekivant to such products or services. Datittilikil Astktt & Wealth Management offers wealth management solutions for wealthy individuals, their families and select institutions workiwide. Deutsche Asst & Wealth Management. through Deutsche Bank AG. its affiliated companies and its officers arid empbyees (collixtively -Deutsche Bank") are communicating this document in good laith and on the following basis 'This document has been prepared without consideration ei the investment mats, objectives or financial circumstances of any investor. Before making an invest- ment decision. investors need to consider, with or without the assistance of an investment adviser, whether the investments and strategies described cr provided by Deutsche Bank, are appropriate in light of their particular investment needs, objectives and financialcircumstances. Furthermore, this document is for information, discus:non purposio only and does not and is not intended to consti tu te an offer, recommendation or solicitation to conclude a transaction or the basis for any contract to purchase or sell any security. or other instrument, or for Deutsche Bank to enter i nto or arrange any type of transaction as a consequence of any iniomehon contained herein and should not he treated as giving investment advice. Deutsche Bank AG, including ite subsidianes and affiliates, does not provide legal, tax or accounting advs.'s. This communication was prepared solely in connection with the promotion or marketing, to the extent pennitted by applicable law. of the transaction or matter addressed herein, and WbS not intended or written to be used. and cannot be felled upon, by any taxpayer for the purposes of avoiding any U.S. federal tax penalties The recipient of thIscommurrication should seek advice from an independent tax alvivar regarding any tax nattersaddressed herein basal on its particular circumstances. hwestments With Deutsche Bank are not gua =teak unless specified. Although information in this document has boon obtained from sources behoved to be niter:lit we do net guarantee its accuracy, completeness or fairness, and it should not be relied neon as such. Ali opinions and estimates herein, including forecast returns, reflect our judgment on the date of this remark ere subject to cha nge without noticeand involve a number of ASSilnip- tens which may not prove valid. Investments are subject to various nsks, including market fluctuations, regulatory change, counterparty risk, possible delays in repayment and kiss of Mamie Arid maxipal invested The value of investments am fall as well as Ma and you nay not recover the amount originally invested at any point in time. Furthermore, substantial fluctuations of the value of the investment are possible even over short periodsof time. Further, investment in international markets cant* affected by a hest of factors, including political or social coalitions, diplomatic relations, limitations or removal of funds or assets orimposition of (or charge Sri Rotherims control or tax regulations in such markets Additionally, investments denominated in an alterative currency will be subject to currency risk. charges in exchanesi rates which may have an adverse effect on the value. price or income of the investment. This document does not identify all the risks (direct and indiicon or ether ansiciorations which night be material to you when 'antenna into a transaction. For certain investments. tho temis will be exclusively subject to the detailed provieons. Metedng risk considerations, contained in the Offering Documents. ReVieW carefully berm investing. This publication canalin forward looking statements. Forward locking statements int-Tucks but are ncit limited to assumptions, estimates. project -ions, opinions, mockils and hypothetical perfomanice analysis The forward looking statements examined constitute to author's judgment as of the date of the material Forward looking statements involve significant elements of subjective judgments and analyses and changes thereto and/or consideration of different or additional factors coukl have a material impact en the results irdicated, Therefore. actual results may vary, perhaps materially. front the results contained herein. No representation or warranty is made by Deutsche Bank as to the reasonableness or completeness of such forward locking statements or to any other financial information contained herein. We assume no responsibility to advise lei recipients of this document with re )as:I to changes in our views. Nciassurariee can bo given that any investment described herein would yield favorable investment results or that the investment objectivesvell be achieved. Any securities er financial i ns triune ins pre:seined herein are not insured by the Fate,* Deposit Insurance Corporation LIM") unless Spedlie-ally noted, and ate not guaranteed by or obligations of Deutsche Rank AG or its affiliates. We or our aff'hates or poisons associated with us nay act upon or use matenal in this report prier to pubfication. 0B may engage in transactions ins manner inconsistent with the views discussed twein. Opinions expressed herein may tiler from the opinions expressed try dopartmonts orothordivisicnscr affiliates of Doe teshe Bank. This document may not be reproduced or circulated without our written authority. The manner of circulation, and distribution of this document may be restnoted by law or regulation in chitin mainlines. This ckxsirraint is runt directed to, or intended for distribution to or ire by, any person or entity who is a citizen or readent of or leaded in any locality, state, country or other jurisdiction, including the United Stales, whore such dist ributicn. publication, availability es use we uld be contrary to law or regulation or which would subject Deutsche Bank to any rogistmtien or licensing requiranent within such junaketion rest curmntly met within such junsdictien. Persons into whose possession this document may come are required to inierrn theinselves of, and to observe, sari, mstrichuns Ant performance is no gua rants° of future results; nothing contained herein shall constitute any representation or warranty as to future performance. Further information isavailable upon inyestor's request All third partydata (such as MSC'. S&P & Bloomberg) are copynghted by and propnelary to lhe ravvicitir. Additional information for wealth management clients for investomin the United States Wen tris management seances are offered through Deutsche Bank Trust Company Americas tinember FDIC) and Deutsche Bank Securities Inc TrnernIx( F 'NITA. NYSE, SIPC), a registered broker dealer and registered irreestment adviser that which conducts investment banbng and securities kitinciters thecaaid f- faun::: Fiveitsolva Bank has published this diseirinfirit in ctOiXi faith. This docurmant has been prepared sellout consideration of the investment needs, objectives or 'manor-II circumstancesof any investor Before making an investment decision, investors need to consider. with or without the assistance of an investment advioec whialaii the liwcelunentaand strategies desenbod or provide-Al by Deutsche Bank, are appropriate, in light of their particular investment noscls, oblject110.es and Firma:41 t.lic:urfiS14new. Fnruaernr rte, this docurnent is for inferrnationfilisaission purposes Only and does not constitute An of for. recommendation habliClitikilanntittle a trini,aCtaln and 1•‘• rrot inveNt monI ad viva. l7dha Ban!' AGMs ault,Onleiuncitr Gemlan Banking Law (competent a uthonty. European Central Bank and the Bann, Germany's federal Financial Supervisory - • il Regulation Amu Truly.. V I cuhjddct In linuteti nllutalion by the Firiraidal Conduct AuI:verity Pri&fennel! P.tvula Uon Authority. iiittamisatIonay.1regulation ta the l'Axiential Regulation Authority, and regulation by the Financial Corduct Authonty fire available Wrsolth Mons( fr nit If roan GialsH All rights reserved RFTAII -PUBt IC WM-PUBI IC R-34508.7022041 100715 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0118571 CONFIDENTIAL SDNY_GM_00264755 EFTA01458592