28 February 2013 Exchange Rate Perspectives Deutsche Bank Fig 30: U.S. Trade Balance with Mexico 1 0 -2 -4 -5 -e, -7 •8 MonlMV NU nn ..! -nnual1U9Ibn10801 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 Source. DaraStream 10 0 -10 -20 0 30 -1 40 -2 -50 -3 40 -70 4 -5 90 4 1994 1996 1998 2000 2002 2004 Fig 31: U.S. Trade Balance with Latin America 2 ttttttttt~Monlnit IUSS bn tars) 1 Anew/6110n WI 1111701 U.S Current-Account Balance Monitor Source DateStream 2036 2036 2010 2012 20 10 0 -10 -20 -30 .40 -50 Fig 1: U.S. Current-Account Balance Fig 2: U.S. Savings and Investment Prt‘ ate & Gove•nrror1 Sector Savnir..Inveslment, 10 -1.0 -3.0 -5 0 10 -10 -30 -50 -70 a L -70 Ma -01 Mar-85 Mar49 Mar-93 Mar-97 Mar-01 Ma005 Mar-09 Ma •13 Source: DreaStrearn L././ tSccan8abnaa 1200 6C0 0 400 4203 1200 COO 0 400 4200 -1930 I L -1803 Ma -81 Mar-85 Mar49 Mar-93 Mar-97 Mar-01 Mar-05 Mar-09 Ma -13 Source: DetaStreern Fig 3: U.S. Current-Account Balance (last 13 quarters) (USS Billions) 03 200904 200901 201002 201003 201004 201001 201102 201103 201104 201101 201202 201203 2012 Balance on Goods .128.9 -143.3 -1525 -164.6 -166.9 -161.1 -181.4 -187.2 -1806 -189.3 -194.3 -185.7 Balance on Services 31.4 34.8 34.6 37.0 37.7 41.1 44.1 45.6 45.8 43.0 45.9 48.3 Salon Goods & Services -97.4 -1085 -118.0 -127.7 -129.1 -120.0 -137.2 -141.5 -134.8 -146.3 -1484 -137.4 Investment Income 34.7 38.1 41.6 47.7 47.8 46.8 52.5 56.2 585 59.9 47.4 52.1 untater al Translate -32.9 -30.3 -34.7 -31.7 -33.2 -31.5 -35.2 -33.8 31.8 -32.2 32.7 -32.7 Sal on Curie/it Account -95.7 -100.7 -111.0 -111.7 -1146 -104.7 -120.0 -1191 -108.2 -118.7 -1336 -118.1 lannuakted, es % of GOP) -2.7% -2.9% -3.1% -3.1% -3.1% -2.8% -3.2% -37% -2.9% -3.1% -3.5% -3.0% Source: DataStstram -173.9 49.4 -124.5 50.8 -33.8 -107.5 -2.7% Deutsche Bank AG/London Page 39 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0104627 CONFIDENTIAL SDNY_GM_00250811 EFTA01449285