EFTA01372985.pdf

RIN I Compared to 2015 BSL CLO • RIN's Equity investors benefit from lower leverage, lower WARF, and a higher spread relative to a comparably rated BSL CLO' • RIN I WARF2 of 1941 vs. BSL CLO WARP of 2809 • RIN I WAS' of 3.77% vs. BSL CLO WAS' of 3.58% WAS vs. WARF WAS vs. Combined WARF and Leverage3 More Favorable • RIN I More Favorable • 3.75% I 3.75% 3 70% 3.70% 3.65% 3.65% 2015 Median 2015 Median BSL CLO BSL CLO 3.60% 3.60% • • r -, r 3.55% 3.55% Less Less Favorable Favorable 3.50% 3.50% 0 500 1000 1500 2000 2500 3000 0 5,000 10,000 15.000 20.000 25.000 30.000 (1) Source: Median Weighted Average Spread and Median of outstanding 2015 vintage BSL CLOS per Morgan Stanley Research. As of October 25th 2017. RIN is being compared to a 2015 BSL CLO because RIN's first payment period occurred at the end of 01'15. (2) RIN WAS and WARF as of closing on October 2501 2017. (3) Calculated as the product of Leverage and WARE. There is no guarantee that this rating factor will be achieved. An investment in infrastructure involves a high degree of risk, including possible loss of principal amount invested, and is suitable only for sophisticated investor who can bear such losses. Rating factor does not remove market risk and is subject to change. There is no guarantee that investment objectives will be achieved. Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 15 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0066926 CONFIDENTIAL SDNY_GM_00213110 EFTA01372985