EFTA01452654

28 January 2014 Brokers. Asset Managers & Exchanges Alternative Asset Manager Initiation (Figure 48: CD Global Markets Strategies Segment Income State nent Forecasts INCOME STATEBIRO 2012 1013 2011 3013 4012E 7013E 1016E 2014E 3044E 401 Segment Retenue: Fund ladles raerme Red rronagonsil ten 237 2 663 738 667 673 273 1 676 693 712 727 Ft.146011041C/V Na, MI 25 0.2 05 01 0.1 09 01 02 02 02 Transacicn Na. nd 36 01 01 02 01 01 01 01 Taal Foe Neese 3432 665 744 666 675 274 2 677 696 711 731 Parbmonce law Reese] 1124 24.1 179 68 175 663 113 129 116 142 (21 2) 61.3 Z30 (136) 276 101 3 69 74 79 86 TOY wrowarc• Na 912 644 839 (781 451 1666 191 203 215 227 Inveso-nanl mon (kW Rend 131 1.9 122 20 29 190 21 22 23 25 livedzed 96 5.1 (1191 32 2.9 (821 42 4 4 46 61 140109440r4411exaneOces) r 227 70 03 62 67 182 63 66 69 76 Bifrost BM Me mare 23 1.1 I5 07 07 r 40 0.5 08 09 09 ToW rovensvo ' 3594 1410 117.1 530 1181 sal 93.9 97.3 1015 101.3 Spahr evenolt Coop and bentas Or ecl base cower/46m 863 25.7 249 236 198 910 196 204 209 214 hdrect tee wrong:1w 21 3 4.6 55 46 91 240 91 94 97 99 Ewer beam carpernalos 02 0.4 06 06 1.5 1I 15 16 16 16 Ftrtatre-cot tea Sew, Rettged 462 9,7 67 as 70 242 49 52 54 57 Untealited (8 4) 6.2 96 31 110 299 17 30 12 31 16401 peowence199449191 376 169 163 39 180 511 713 II 16 9.1 Tel cam aol Dwelt r 1466 466 473 327 laill 1752 381 394 408 42.0 Gee*. Bast 'e. 4 otate next expenses 406 95 195 178 IS 7 566 190 192 194 196 °toreador 6 ereeleallen expense 35 1.2 I I 12 1.0 46 1.0 1.0 1.0 1.0 Metal tone 45 t5 21 21 2.0 77 10 10 2.0 20 ToW expense. 194.2 66.0 70.0 118 70.2 253.0 661 61.6 eito MA 114049 Uri* re Economia 119i Income (614) 1612 104.0 47.1 161 as 2161 310 351 37.6 317 Soter• <own repro en0 Oftesthe cant 2014E 2015E 2016E 2607 3065 4245 0.7 08 08 06 05 05 2819 3067 4259 110 600 713 306 387 526 836 986 1239 9.1 63 II 5 164 253 233 275 316 347 13 37 38 3963 440.6 5513 826 697 1266 311 414 675 6.3 69 96 21.2 210 235 122 IS 5 210 315 394 496 1603 1775 2412 77.1 It 0 909 4.0 4,0 4.0 60 5.0 10 2414 276.6 344.1 1469 Hal 3140 Page 54 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0109821 CONFIDENTIAL SDNY_GM_00256005 EFTA01452654