Deutsche Asset & Wealth Management Secondary Opportunities Fund Ill Private Client Feeder Fund (U.S.), L.P. For eligible U.S. taxable investors and certain eligible U.S. tax-exempt investors only Overview — January 2014 Not for public viewing or distribution I Investment products: No bank guarantee I Not FDIC insured I May lose value NOT FOR PUBLIC DISTRIBUTION - ONLY FOR INVESTORS ELIGIBLE TO INVEST IN PRIVATE EQUITY FUNDS CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0109174 CONFIDENTIAL SDNY_GM_00255358 EFTA01452257