EFTA01457518

18 May 2016 Software & Services Baidu Appendix 1 Important Disclosures Additional information available upon request Disclosure checklist Company Ticker Recent price' Disclosure Baidu BIDU.OQ 192.98 (USD) 15 May 15 1,2,6,8,9 'Prices are current a of the end of the previous ;radon° session unless ahem's* profound end are sourced from local exchanges me Reuters. escomtorg end other vendors Other mformaeon Is sourced from Deutsche Bank subect companies. and other sources For dsclosures pertatreng to recommend/bens or estimates made an saturates other than the oilmen subject of on research. plow as the most recently putMNd company repon or wen our lobar **closure iook.up pegs on our weoene http Nom decant erldesclosureOsclostreDrectory ear 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. 2. Deutsche Bank and/or its affiliate(s) makes a market in securities issued by this company. 6. Deutsche Bank and/or its affiliate(s) owns one percent or more of any class of common equity securities of this company calculated under computational methods required by US law. 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. Important Disclosures Required by Non-U.S. Regulators Please also refer to disclosures in the Important Disclosures Required by US Regulators and the 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. 2. Deutsche Bank and/or its affiliate(s) makes a market in securities issued by this company. 6. Deutsche Bank and/or its affiliatels) owns one percent or more of any class of common equity securities of this company calculated under computational methods required by US law. 9. Deutsche Bank and/or its affiliate(s) owns one percent or more of any class of common equity securities of this company calculated under computational methods required by India law. 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 fitto://gm.db.com/gerklisclosure/Disclosure.easr?ricCode=BIDU.OQ 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. Alan Hellawell III Deutsche Bank AG/Hong Kong Page 5 CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0117091 CONFIDENTIAL SDNY_GM_00263275 EFTA01457518