EFTA01387100.pdf

22 February 2018 Air Freight & Logistics XPO Logistics Appendix 1 Important Disclosures *Other information available upon request Disclosure checklist Company Ticker Recent price• Disclosure XPO Logistics XPO.N 93.99 (USD) 21 Feb 2018 1, 7, 8, 14, 15 'Pnies are current es or the end of the preivioue Deere session unless otherwise indicate, end ere wourced from local *changes ve Reuters. Ellocenberg ale other vendors othile information us sourced from Deutsche Bank, subject companies. and other ',sects For disclosures xrtaining to recommendations or estimates made On securubes other then the primary subset of this research. peen See the most reCently published COMpeny repOrt Or eel Our global disclosure leek-up page On Our website at telpAgrbilbstra/gbrAlliclosure DisclosurrOireCtOrY psi. Aside n om Within this report, ineortant conflict disclosures can also be found at telpsfrgm 00 comecketies under the 'Deed:mune Lookup' and 'Legal' tabs Investors are strongly encouraged to review this mfortnerice before investing Important Disclosures Required by U.S. Regulators Disclosures marked with an asterisk may also be required by at least one jurisdiction in addition to the United States.See Important Disclosures Required by Non-US Regulators and Explanatory Notes. 1. Within the past year, Deutsche Bank and/or its affiliate(s) has managed or co-managed a public or private offering for this company, for which it received fees. 7. Deutsche Bank and/or its affiliate(s) has received compensation from this company for the provision of investment banking or financial advisory services within the past year. 8. Deutsche Bank and/or its affiliate(s) expects to receive, or intends to seek, compensation for investment banking services from this company in the next three months. 14. Deutsche Bank and/or its affiliate(s) has received non-investment banking related compensation from this company within the past year. 15. This company has been a client of Deutsche Bank Securities Inc. within the past year, during which time it received non-investment banking securities-related services. Important Disclosures Required by Non-U.S. Regulators Disclosures marked with an asterisk may also be required by at least one jurisdiction in addition to the United States.See Important Disclosures Required by Non-US Regulators and Explanatory Notes. 1. Within the past year, Deutsche Bank and/or its affiliate(s) has managed or co-managed a public or private offering for this company, for which it received fees. 7. Deutsche Bank and/or its affiliate(s) has received compensation from this company for the provision of investment banking or financial advisory services within the past year. For disclosures pertaining to recommendations or estimates made on securities other than the primary subject of this research, please see the most recently published company report or visit our global disclosure look-up page on our website at http://gm.db.con-t/ger/disclosure/DisclosureDirectory.eqsr Analyst Certification The views expressed in this report accurately reflect the personal views of the undersigned lead analyst(s) about the subject issuer and the securities of the issuer. In addition, the undersigned lead analyst(s) has not and will not receive any compensation for providing a specific recommendation or view in this report. Amit Mehrotra Page 2 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0089197 CONFIDENTIAL SDNY_GM_00235381 EFTA01387100