EFTA Document EFTA01456502

z L 1'3 TERMSHEET DISCLAIMER — IMPORTANT NOTICE This term sheet has been prepared solely for discussion purposes and does not constitute an offer, an invitation, or a recommendation to enter into any transaction. Terms and conditions herein are indicative and subject to change and/or negotiation between us. Full details of the final terms and conditions of these instruments will be contained in a prospectus, confirmation or other offering document related to this transaction, a copy of which will be available free of charge from Deutsche Bank. Although the information herein has been obtained from sources believed to be reliable, we do not warrant its accuracy, completeness, or fairness. Opinions and estimates may be changed without notice and involve a number of assumptions which may not prove valid. Past performance is not indicative of future results. We are not acting as your financial advisor or in any other fiduciary capacity in respect of this proposed transaction or in any other transaction with you unless otherwise agreed in writing. We or our affiliates or persons associated with us or such affiliates ("Associated Persons") may at any time maintain as part of our hedging or trading activities a long or short position in securities referred to herein or underlying constituents thereof, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, as well as earn brokerage or other compensation. While Deutsche Bank's trading or hedging activities are not intended to have any significant impact upon prices, our dealings could affect the price you pay or receive for transactions in these or related securities. Calculations of returns on the securities referred to herein are linked to a particular market measure, reference entity, security or credit, the performance of which may affect the amount or timing of payments to be made or received in connection with this proposed transaction. As such, the investments may not be suitable for persons unfamiliar with such basis of reference, or unwilling or unable to bear the risks associated with the transaction. The securities referred to herein involve risk, which may include interest rate, index, currency, credit, political, liquidity, time value, commodity, and market risk. In addition, products denominated in a currency other than the investor's 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 risks are interrelated in complex ways, and as a result, the effect of any one factor may be offset or magnified by the effect of another factor, and the term sheet does not identify all risks (direct or indirect) or other considerations which might be material to you when entering into the transaction. There may be no secondary market for the instruments and the products may not be readily realizable investments. This document and the information contained herein may only be distributed and published in jurisdictions in which such distribution and publication is permitted. Any direct or indirect distribution of this document into the United States, the United Kingdom, Canada, or Japan or to US persons or US residents, is prohibited. You may not distribute this document, in whole or part, without our express written permission. BEFORE ENTERING INTO ANY TRANSACTION YOU SHOULD TAKE STEPS TO ENSURE THAT YOU UNDERSTAND AND HAVE MADE AN INDEPENDENT ASSESSMENT OF THE APPROPRIATENESS OF THE TRANSACTION and contractual relationship into which you are entering and the nature and extent of your exposure to risk of loss IN UGHT OF YOUR OWN OBJECTIVES, FINANCIAL AND OPERATIONAL RESOURCES AND OTHER RELEVANT CIRCUMSTANCES. YOU SHOULD TAKE SUCH INDEPENDENT INVESTIGATIONS AND SUCH PROFESSIONAL ADVICE AS YOU CONSIDER NECESSARY OR APPROPRIATE FOR CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 115715 CONFIDENTIAL SDNY_GM_00261899 EFTA01456502