EFTA01385502.pdf

Deutsche Bank Cil The Equity View - Fresh Money Ideas — Overview ■ The Equity View Overview ■ This is the third edition of this quarterly publication, where we present each of our teams' strongest investment ideas over the next twelve months. ■ Below are our European "Fresh Money Ideas". In this report, each idea is summarized and grouped together by sector (SELLs in RED): Consumer: B&M, BAT, Bovis Homes, Carrefour - Financials: Aroundtown Properties, AXA, Banco Santander, Credit Suisse Group, Prudential - Healthcare: AstraZeneca, Fresenius, Shire Energy, Materials & Industrials: ABB, ArcelorMittal, BAE, Continental, DSM, Glencore, Kingspan, Linde, Renault, Royal Dutch Shell, RWE - TMT: Eutelsat, Infineon, Informa, KPN, Sophos, Vodafone - Business Services, Leisure & Transport Deutsche Lufthansa, Royal Mail, SGS, Vinci ■ One slide per stock, valuation and catalysts plus links to the latest research. ■ The prior iteration (04-Oct-17) [AB Foods, BAT, Bovis Homes, B&M, H&M, Imperial Brands, Ocado, Tesco, AXA, Credit Suisse, Deutsche Wohnen, Prudential, AstraZeneca, Coloplast, Shire, ArcelorMiittal, BP, Centrica, Covestro, GKN, HeidelbergCement, Linde, Renault, Rio Tinto, RWE, AccorHotels, ADP, Cineworld, Deutsche Post, IAG, Aixtron, Informs, Micro Focus, Telefonica, Telia, TF1] saw an average price gain to 04-Jan-18 of 4.2%, vs SXXP at 0.9% (Past performance is not a guarantee of future performance; This data does not include transaction costs; more information is available upon request) CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0086788 CONFIDENTIAL SDNY_GM_00232972 EFTA01385502