From: valuations.system@db.com [valuations.system@db.com]
Sent: 12/29/2015 7:49:24 AM
To:
Subject: Valuation Statement for SOUTHERN FINANCIAL LLC as at 28 Dec 2015 - Request 182298
Attachments: 182298_20151228_20151229_1.pdf; 182298_20151228_20151229_1.csv
Dear Si r/r4adam ,
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 Flank Group
customer valuations Group
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valuations are sent to you subject to our valuation Disclosure statement.
we also direct you to the following additional disclosures:
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http://cbs.db.com/new/docs/Dai I y_Mark_Methodologies_and_Assumptions_Di sclosure_March_28_2013_(2) pdf
In reference to the provision of portfolio data and dispute resolution under EMIR:
https : //wily. db. com/en/medi a/EMIR-Portfol i o-Reconci ati on-and-Di spute-Resol ution-valuati on-Di scl osu re-
Statement . pd f
182298_20151228_20151229_1
92572826
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 119449
CONFIDENTIAL SDNY_GM_00265633
EFTA01459181