Multi Asset Investment Process The Deutsche Bank Wealth Management CIO View and Research is the starting point A quarterly CIO Day gathers the most senior professionals in Deutsche Bank WM responsible for asset classes and research. Investment experts assess the macro-economic environment and outlook, identifying and analyzing key market drivers. Outlook for Fixed Income, Equities, Alternatives and Multi Assets is reviewed and challenged. The decisions taken at the CIO Day are presented in our CIO View which includes: Macro-economic environment Single asset class outlook Financial market forecasts and high-conviction ideas Risks to the main scenario Strategic CIO View is the starting point for our multi asset investment process Source Deutsche Bank Wealth Management Deutsche Bank Wery,Itn .rianagernent . 7 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0073277 SDNY_GM_002 19461 EFTA01376841