From: Richard Kahn <richardkahn12®gmail.com>

From: Richard Kahn <richardkahn12®gmail.com> To: "Jeffrey E." <jeevacation@gmail.com> Subject: DB Date: Mon, 20 Jul 2015 14:30:32 +0000 Attachments: 182298 20150717 20150720_I.pdf; 182298_20150717_20150720_1.csv lane-Images: image007.png nice trace on Euro see it marked at +593k on attached summary slighty better than FCX recommendation at 19.51 which is now 15.24... Classification: Confidential Jeffrey, Jay and Vahe from my team put this together to follow-up on lower priced equities for which we can implement the TWTR equity structure in either a listed or OTC structure. To start, we screened the S&P 500 with the following criteria: Share Price ($10-$20 range) Market Cap (>$10bn) Covered by DB Research The following 5 names fit the criteria: __ r i l Iti A r-rd- MP rice Mkt Cap (bn) Div Yld DB Rating DB Target Ford F $ 15.92 5 59.00 3.77% Ho d $ 16.00 Bank of America BAC $ 16.35 $ 168.00 1.25% Buy $ 18.50 Fre e port-McMo Ran FCX $ 19.51 $ 20.00 6.41% Buy $ 36.00 Fifth Third Bancorp FITB $ 18.79 $ 15.0D 2.77% Hold $ 20.00 Boston Scientific Corp BSX $ 14.45 $ 19.0D - Hold $ 16.00 Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York NY 10022 tel fax cell Begin forwarded message: EFTA01202310 From: valuations.system@db.com Subject: Valuation Statement for SOUTHERN FINANCIAL, LLC as at 17 Jul 2015 - Request 182298 Date: July 20, 2015 at 2:21:51 AM EDT To: JABWCPA@GMAIL.COM, amanda.kirby@db.com, ariane.dwyer@db.com, daniel.sabba@db.com, gedeon.pinedo@db.com, hnw.clientservices@db.com mark.whyman@db.com, paul.morris@db.com, richardkahn12@gmail.com vahe.stepanian@db.com Reply-To: yaluations.ny@db.com Dear Sir/Madam, Please find attached the valuation as of the value date specified in the attached statement. For queries please contact the number provided on the statement. Kind regards, Deutsche Bank Group Customer Valuations Group This is an automated email account. Please do not reply to this email as the account is not monitored. Valuations are sent to you subject to our Valuation Disclosure statement. We also direct you to the following additional disclosures: In reference to the provision of valuations for daily marks: df In reference to the provision of portfolio data and dispute resolution under EMIR: Statement.pdf 182298 20150717 20150720 1 82713243 EFTA01202311