1 July 2014 Early Morning Reid: Macro Strategy 'Figure 4: Total Return Performance of Major Global Financial Assets - YTD 2014 20% 16% 10% 5% 0% -5% -10% ',Corp Bond • Coin Bond Equity NEM Equity a EM Bond ', Commodity 4, FX is aaa tBit !ii rr cg e, 2 x y To = c 5 s n it is A L') 8 .<- a _x co 'O > 0 al a a u. • O .O .O c O.n. C X C *a . O *3 2- x 2 21 2 O 3 al 72: -oa ts — r Erna, cn • XOcocco — = x c0 0 (0 0 DC)cc<c03 • D comi— gco csq= LU w § Lu ?.(...•28 (0 0 ap. Cx C O (.7 Doi CI )- — 0 .c z g LL a. w- eL o e a' IL F- 0 D IS ati > oi-ZZiu— 2 'E v) 0 In Ln D(.; th D SirS ) L.7 LL • 8 § N' D a 2 2 cn cn Son bath* Suit Illeernawy Shares LIP, mob. B [Figure 5: Total Return Performance of Major Global Financial Assets-- YTD 2014 (in USD) 5% 0% -10% -5% •Corp Bond • Govt Bond Equity •EM Equity •EM Bond =Commodity -FX ad 2x r, r ogg i 4=a ,s31 tg g „: .8 g3 I- 312 § tu Nil II 11 tc in thi ew 6 m- s 0% rt,3;Igsr,m,LuDwor3<>-..°)ii.- - 03 E4. ut 8z ouiu-= W § crr, z a IL m it r co cr a a 0 0 (9 tx D 0 in Li_ 0 D D D LLI D D a - 6 O a Saint Dosch. Bet Elloonbey Wove LIP, At. Deutsche Bank AG/London _J Page 5 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0102690 CONFIDENTIAL SDNY_GM_00248874 EFTA01447904