Deutsche Asset & Wealth Management Executives' Biographical Summary

Deutsche Asset & Wealth Management Francis J. Kelly Head, Government & Public Affairs, Deutsche Bank—North and Latin America Global Coordinator—Public Affairs Frank Kelly is Global Coordinator for Public Affairs as well as Head of Government & Public Affairs for North and Latin Americas, primarily responsible for managing and coordinating relationships with elected officials and political and legislative bodies globally. Additionally, he heads up the Bank’s U.S. Direct Investment Advisory Group (DIAG) providing strategic counsel to non-U.S. companies engaged in cross-border mergers and acquisitions requiring regulatory and political approvals. Mr. Kelly also serves as the Chief Political Risk Strategist advising clients on geopolitical and domestic risk issues and their impact on markets and industry sectors. Prior to joining Deutsche Bank, Mr. Kelly held senior executive positions at both Charles Schwab & Co. and Merrill Lynch & Co, Inc. Before joining the private sector, Mr. Kelly served at the U.S. Securities and Exchange Commission as Chief Spokesman as well as the U.S. Department of Justice as Assistant to the Director for Policy Development where he focused on international matters including terrorism and war crimes. Prior to these posts, he served in both the George H. W. Bush and the Reagan White House where he started as a writer for President Reagan. Mr. Kelly is a member of the Council on Foreign Relations and the International Institute of Strategic Studies. He serves as a member of the Board of Directors of the Atlantic Council of the United States, the American Council on Germany and the Jerome Lejeune Foundation. Larry V. Adam Chief Investment Officer, Wealth Management—Americas Chief Investment Strategist, Deutsche Asset & Wealth Management—Americas Larry Adam is a Managing Director and serves the dual role of Chief Investment Officer for Wealth Management-Americas and Chief Investment Strategist for Deutsche Asset & Wealth Management—Americas. In his role as ClO, he chairs the Americas Regional Investment Committee, the management team responsible for investment strategy and asset allocation for discretionary portfolios in the Americas, and is a voting member on the Multi Asset Investment Committee, which formalizes and establishes the global house view. As Chief Investment Strategist, Mr. Adam is responsible for articulating and providing detailed research on the outlook for the economy and each major asset class in support of the house view. Previously, Mr. Adam was the Head of the Asset Allocation and Quantitative Analysis Group, the group responsible for analyzing and implementing client-specific asset allocation strategies. He is widely published and has been quoted in various mainstream and financial publications, including The Wall Street Journal, Barron's and International Herald Tribune. He also frequently appears on television and has been featured on CNBC and Bloomberg TV. Mr. Adam joined Deutsche Bank Alex. Brown in 1992. Mr. Adam received a B.B.A. and a master’s degree in business with a concentration in finance from Loyola University Maryland. He has earned the Chartered Financial Analyst®, the Certified Investment Management Analyst® and the Certified Financial Planner™ designations. _ HOUSE_OVERSIGHT_026825