From: Sent: To: valuations.system@db.com 1/29/2015 5:25:12 AM Subject: Valuation Statement for SOUTHERN FINANCIAL LLC as at 28 Jan 2015 - Request 182298 Attachments: 182298_20150128_20150129_1.pdf;182298_20150128_20150129_1.csv 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 Bank 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_20150128_20150129_1 72643241 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 115729 CONFIDENTIAL SDNY_GM_00261913 EFTA01456513