Deutsche Bank El GT-3a. Capital flows to EM: down but not out 400 Net foreign purchases of EM assets (12m sum, USD bns) 350 300 250 200 150 100 50 0 2011 2011 2012 2013 Sour. and Deutuhe Bank Debt • Equity 2014 2014 r- , 111 2015 Deutsche Bank Bank R,eap,- 18 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0070021 CONFIDENTIAL SDNY_GM_00216205 EFTA01375002