EFTA01370094.pdf

RIN I Portfolio Attributes 60bps of par has been created Weighted Average Spread and Cumulative Portfolio Par Creation over Time Weighted Average Spread? 1.60% 5.00% 4.50% 1.40% 4.00% 1.20% t 3.50% 3.00% 2.50% 2.00% 1.50% 1.00% 0.50% 0.00% 01'15 02115 03115 04115 01.16 0216 03'16 04116 01'17 0717 0317 04'17 mnmr RIN Cumulative Par Created (%) Ohs) BSL Cumulative Par Created (%) (Ihs)3 —RIN WAS (%) (rhs) mBSL WAS (%) (rhs)r (1) Cumulative Par created inclusive of realized and unrealized gains. As of December 31m 2017. There is no assurance that investment objectives viill be met Past performance is not indicative of future results. Please note that the future cumulative par created could be adversely affected by the performance of the CLO's assets. A default or loss of principal in an underlying CLO asset would reduce the cumulative amount of par created. (2) Weighted Average Spread inclusive of applicable Libor Floors. As of December 31II 2017. (3) Median Cumulative Par created of outstanding 2015 vintage BSL CLOS per Morgan Stanley Research. As of December 31g 2017. (4) Median Weighted Average Spread of outstanding 2015 vintage BSL CLOS per Morgan Stanley Research. As of December 311, 2017. Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity March 2018 14 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0062692 CONFIDENTIAL SDNY_GM_00208876 EFTA01370094