(NIKKEI @ 15332 II+1.12%) (Hang Seng @ 23191 110%) (VIX @ 11.57 // +0.31) Key Economic Data (Release 1/ DB 1/ Prey // Con) (ISM manufacturing (June) // 55.0 // 55.4 /155.8) (Construction spending (May) // +0.5% II+0.2% /I +0.5%) (Unit motor vehicle sales (June) // 16.4M /116.7M // 16.3M) Topical Deutsche Bank Publications * World Outlook - The calm before the storm, 25 June 2014, http://pultdb-gmresearch.com/cqi-bin/pull/DocPull/1372- 1896/72708206/DB WorldOutlook 2014-06-25 0900b8c0886ac28f.pdf * FX Daily - The single most important question for policymakers, 24 June 2014, http://pultdb-gmresearch.com/cgibin/pull/DocPull/1361-CA65/71273754/0900b8c088677283.pdf * European Staffing - Later than it seems, 25 June 2014, http://pull.db-qmresearch.com/cgi-bin/pulVDocPull/2172- 585C/72258420/DB FXDaily 2014.06-24 0900b8c0886c5a64.pdf * European Equity Strategy - The return of the stock alpha, 20 Jun 2014, http://pull.db-gmresearch.com/cqibin/pull/DocPull/6-AF367/74847497/0900b8c0886acc70.pdf * Focus Europe - Down but not out , 20 Jun 2014 http://pull.db-gmresearch.conVoi-bin/pull/DocPull/3055- 5155/62173638/DB FocusEurope 2014-06-20 0900b8c0886840eb.pdf Jim Reid Nick Bums Anthony Ip Tazia Smith Director I Key Client Partners - US DB Securities Inc Deutsche Asset & Wealth Management 345 Park Avenue 10154-0004 New York. NY. USA PagrAn‘JageOnit Click/ copy this link into a browser to access the report: http:Upull.db-gmresearch.comr07805-028Er90612075/DB EMR 2014-07-01 0900b8c0811724b5b. df. If you have any difficulty accessing the report, please forward this email with the word 'POP in the subject line to OMResea Alter 90 days you can access the report on our web site: http://gm.db.eom. You have received this mail because you have subscribed to Jim Reid For changes to your current research subscription, visit httpsWom.db.conWsrn or email GMResearch.SubscriptionstOdb.com. Please refer to the applicable legal disclaimers in the full report. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 112686 CONFIDENTIAL SDNY_GM_00258870 EFTA01454533