EFTA Document EFTA01364406

Disclaimer Backtesting The backtesting results enclosed herein do not represent historical prices. The models reflects historical payout and does not include related costs or tax implications. The back test does not delineate how prices have varied historically, and does not include volatility or interest rate assumptions. Please refer to earlier slides in the presentation for structure key terms. Back testing does not represent historical prices. Back tested, performance results discussed herein have inherent limitations. Unlike an actual performance record based on trading actual client portfolios, simulated results are achieved by means of the retroactive application of a back tested model itself designed with the benefit of hindsight. Taking into account historical events the back testing of performance also differs from actual account performance because an actual investment strategy may be adjusted any time, for any reason, including a response to material, economic or market factors. The back tested performance includes hypothetical results that do not reflect the reinvestment of dividends and other earnings or the deduction of advisory fees, brokerage or other commissions. and any other expenses that a client would have paid or actually paid. No representation is made that any trading strategy or account will or is likely to achieve profits or losses similarto those shown. Alternative modeling techniques or assumptions might produce significantlydifferent results and prove to be more appropriate. Past hypothetical backrest results are neither an indicator nor guarantee of future returns. Actual results will vary. perhaps materially, from the analysis. Results represent the performance of each basket on a back tested basis, tied to a structure whose economics are determined by current economic factors such as current volatilities and interest rates. There is no guarantee that a similar structure would have been available at any point in the past and that such results could have been achieved. Calculations of returns Calculations of returns on instruments referred to herein may be linked to a referenced index or interest rate. In such cases. the investments may not be suitable for persons unfamiliar with such index or interest rate, or unwilling or unable to bear the risks associated with the transaction. Products denominated in a currency, other than the investors home currency, will be subject to changes in exchange rates. which may have an adverse effect on the value, price or income return of the products. These products may not be readily realizable investments and are not traded on any regulated market. The securities referred to herein involve risk, which may include interest rate. index, currency, credit, political, liquidity, time value, commodity and market risk and is not suitable for all investors. Not insured These instruments are not insured by the Federal Deposit Insurance Corporation (FDIC), Securities Investor Protection Corporation (SIPC), or any other U.S. governmental agency. These instruments are not insured by any statutory scheme or governmental agency of the United Kingdom. The distribution of this document and availability of these products and services in certain jurisdictions may be restricted by law. These securities have not been registered under the United States Securities Act of 1933 and trading in the securities has not been approved by the United States Commodity Exchange Act, as amended. The Bank and affiliates "Deutsche Bank" means Deutsche Bank AG and its affiliated companies, as the context requires. Deutsche Bank Private Wealth Management refers to Deutsche Bank's wealth management activities for high-net-worth clients around the world. Deutsche Bank Alex. Brown is a division of Deutsche Bank Securities Inc. Page 2 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0054940 CONFIDENTIAL SDNY_GM_00201124 EFTA01364406