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 ch a a u. • O .O .O c O.n. C X C *a . O *3 2- x 2 21 2 O 3 al 72: taco — r Erna) cn • XOcocco — = x c0 0 (0 0 DC)cc<c03 • D comi— gco co 42 = 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 > ol-ZZai— 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 4t,s31 tg g „: .8 g3 I- 312 § tu Nil II 11 tc in thi ew 6 m- s 0% rt,3;Igs - m,LuDwor3<>-..°)ii.- 03 E4. ut 8z owls= 2 —) 0 § to crct z a IL m it r co cr a a 0 0 (9 tx D el 0 D D D LLI D a - • D 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-0112691 CONFIDENTIAL SDNY_GM_00258875 EFTA01454537