From: Sent: ; To: ; Amanda Kirby I ; Gedeon Pinedo Joseph Cothron ; Paul Morris ; Tazia Smith l ; Vahe Stepanian Subject: Valuation Statement for SOUTHERN FINANCIAL LLC as at 23 Dec 2013 - Request 182298 Attachments: 182298_20131223_20131224_1.pdf; 182298_20131223_20131224_1.csv Valuations System iyaluations.system@db.comI 12/23/2013 5:45:08 PM Dear Sir/Madam, Please find attached the valuation as of the value date specified in the attached statement. For queries please contact the number provided on the statement. Kind regards, Deutsche Sank Group customer valuations Group This is an automated email account. Please do not reply to this email as the account is not monitored. valuations are sent to you subject to our valuation Disclosure statement. we also direct you to the following additional disclosures: In reference to the provision of valuations for daily marks: http://cbs.db.com/new/docs/Daily_Mark_Methodologies_and_Assumptions_Disclosure_March_28_2013_(2).pdf In reference to the provision of portfolio data and dispute resolution under EMIR: http://cbs.db.com/new/docs/valuation_statement_-_EmiR_Language_1309.pdf 182298_20131223_20131224_1 S10948SS CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL SDNY_GM_00252788 DB-SDNY-0 106604 EFTA01450760