New York. NY 10154 direct phone fax From: Joshua To: Joshua Cc: Caroline Chip Haig ' ael Tazia Date: 01/21/2014 04:00 PM Subject: Re: Fw: KCP IOI: Santander IPO [I] Classification: For internal use only Greetings. Tazia came by. It was earlier proposed that Mr. Epstein would get a 50bps allocation off the top of the wealth management allocation. Is that agreeable to you? Best regards, --Josh Joshua Shoshan Director Deutsche Bank Securities Inc. Private wealth Management - Americas Private Client Services 345 Park Ave, 26th Floor New York, NY 10154 Offic Cell E-Fax From: Joshua To: Caroline Cc: chip Haig Tazia Michael Date: 01/21/2014 02:16 PM Subject: Re: Fw: KCP IOI: Santander IPO [I] Classification: For internal use only Tazia, please feel free to chime in on how many shares of an allocation Mr. Epstein would be reasonably satisfied to receive. Re his 150k indication, the entire division may get perhaps SOOk shares (DB has junior economics). Best regards, --Josh Joshua Shoshan Director CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 122085 CONFIDENTIAL SDNY_GM_00268269 EFTA01460656