Matthew O'Connor Managing Director I Commodity Investor Sales Deutsche Bank AG 60 Walt Street New York. NY Email From: Matthew ()Connor Sent: Tuesday, April 08, 2014 7:57 AM To: Matthew ()Connor; jeeyacationOomail.com Cc: Tazia Smith; Paul Morris; .3atin Bindal Subject: RE: Oil update [C] Classification: Confidential Good morning Jeffrey — We are trading very similar to where we were Friday morning after this morning's large rally. M4 WTI is trading $100.74 and the 93.5/101 collar is now worth $1.55 again. You can see the decay kicking in a bit as we are 12c higher in flat price, but the option is worth the same as Friday. To give you a sense, the collar closed yesterday (before the big rally) at $1.10. Thanks, Matt From: Matthew ()Connor Sent: Friday, April 04, 2014 10:40 AM To: 'jeevacation@gmail.com' Cc: Tazia Smith; Paul Morris; latin Bindal Subject: Oil update [C] Classification: Confidential Jeffrey — Good morning. Post payrolls, WTI has rallied about 1%. Your M4 93.5/101 collar is now worth $1.55 with M4 WTI trading at $100.62. The equity rally is fading a bit and to be honest, expecting a soft commodity close as well going into the weekend. Thanks, Matt CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0101670 CONFIDENTIAL SDNY_GM_00247854 EFTA01447135