EFTA01364446.pdf

Liquid Alternatives / Risk Premia: DB's Leadership Position — Deutsche Bank has built a market-leading presence in the area of Risk Premia investing, having implemented Risk Premia programs with investors since 2011. — Deutsche Bank's presence and success in the Risk Premia space has been built on the strength and expertise of its Equity Quantitative Strategy Group — the theoretical exposition of the value of Risk Premia investing was given by this team in what is now viewed as a seminal paper in the area, "A New Asset Allocation Paradigm" (Mesomeris et al., July 2012). — DB has implemented more than 45 Risk Premia programs with some of the largest and most sophisticated institutional investors across the world — from US pensions and endowments, to European sovereigns and pensions, to London asset managers and Australian insurers. — AUM of Risk Premia investments at DB currently stands in excess of USD 11 billion. — Key strengths of DB's offering are its extensive project experience, research-driven approach to identification and implementation of Risk Premia, longstanding independent index business, and strong research and structuring teams across all asset classes. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0054983 CONFIDENTIAL SDNY_GM_00201167 EFTA01364446