20 November 2016 US Equity Insights [Figure 61: 3015 Sales and Eps growth by sector liSalesy/y a EPS yh -20% -15% -10% -5% 0% 5% 10% 15% 20% Cons Disc 4% 17% Ex Auto & Home Builders L Cons Staples Energy Financials Health Care industrials Tech -37% -57% -5% 1% 8% 996 14% -5% I Ex AAPL & GOOG 0% Materials Telecom Utilities S&P 500 S&P 500 ex Energy S&P ex Energy & Fin. -13% -17% -4% -2% -2% 0% 1% 2% 7% 6% 12% 15% Son Deutsch ant kW Deutsche Bank Securities Inc. Page 31 CONFIDENTIAL — PURSUANT TO FED. R CRIM. P. 6(e) DB-SDNY-0119300 CONFIDENTIAL SDNY_GM_00265484 EFTA01459080