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KCP products andservices are intended and available only for persons who are sophisticated institutional investors within the meaning of the FINRA Rub 4512(C)(3), and who are capable of evaluating the strategies, characteristics andinvestment risks o/ and exercising independent judgment in evaluating. the ideas andproducts discussedherein. Trades and transactions are subject to relevant internal approvals of MS/ or its affiliates prior to execution. and the execution of any transaction or idea discussed herein is conditional on your becoming a client of Deutsche Bank.

Key Client Partners (KCP) products, investment ideas andsolutions and relatedmatters discussed herein are provided for discussionpurposes only, and strictly on a non-advisory basis. The KCP Americas desk does not provide investment advice.

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