a A5' co Figure 26: Advised S&P 500 Sector and Industry A.1 63 4881 0,-.2.' • Id Aavrved A.!. stt ilbi SEC1C4 All b PE Oregwecht :91 5 1-f 2016 Pc 66666666M O' 5 Ff :10 5% Inionnlon Tech-PIXY it 0 116 7”.:,,ir'CIC.j., '14I.J.... ..J. ..:-..,o.,. °A; wiles.. . lower°, Software & Senn:es 1 1 1 IT 546969063446:44 Sertw410 Corrrtuncocce Equvrent Elea:arc Equomert 4 5totechnolooll '4. Hearth Core Proadv, & Scrams 167 '4' I, 4”,t)C114 EauC46411 0 %COWS NAPO Care 4 - 5I,66.953 Toch5O1O3v 261 Om- •'• 7.,ences Tads & 176 166 weight • •••...,,uocals 160 151 ; ' 11 /.1.V.ots 1 I 0 127 104 116 10rwocPla] • ,-..n.: -. n maw°, I • - .ref Form 106 102 REIT, Elul EWA, Mort &C... ' 4 -, IhOlts & moitosOli En's, 243 106 164 150 G43551183 102 1612 =.0 I^5 inosondent PO86489O.14441 100 99 /448411011.4 173 IE6 120 12.0 Telecorrenuntabon Senicee .19 104 1L>verstito Consurnv bervoes 77 7 4 ' 7.. 9 Ho638.8503t4•4461.9 61.165.6) Textfes. /VOWS & U.cos y Good; I i ' - •-,:tii eatables 133% ,4 17 7 • PP:NM — P418I 1 55 137 ,. , Pets 134 171 664 62, '+0 170 ITT 8ever0844 21 7 21 5 of EtcOucts 178 171 - : .netield Products 192 166 260 225 1138 190 Arlres • ' 7 1lockicts ' —owe& Dona 163 158 • Vie 13491b= . tr..coon& E11O114411-13 113 110 .., 341Sences b Sumba, • . t.r.,0 Equynenl 137 137 we on; -.. Cooping/4S , NIS Serv8.516 'ire', ' •113COTIIParrn 1113.4Ob4lors 146 148 151 131 1 i T, 1 392 327 167 146 145 145 IC 7 139 102 102 290 195 195 195 279 195 Aare014 PE 0108 I6:1610Ty 6boatbr* Overa.814 142 114 Equilw6616 166 159 urcer.. ti SSP 60D index 1920.03 2016& 2016 DO Watson EPS 1209 1260 2015 & 2016 DO Saats6y PE 169 ISO Elottanw Can, EPS 119.0 13119 Bottom.up Cow. PE 1S1 I17 S.v.rce Oraxne Sert .4ftees ReSalte Thces sloe 9 3.11:015 at ion (2014.:15 PE based on DB US Equity Strategy top dov: :otor and Industry EPS esti! 'wales CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0 118507 SDNY_GM_00264691 EFTA01458544