Illustrative RIN II Capital Structure — Post Refinancing
Portfolio Advisor
(RREEF America LLC)
RIN I Ltd.
reanti F:knitfre + portfOk:
adminv6tratIcri (Issuer)
(Portfolio
Administrator
RIN II LLC
and Trustee)
(Co-Issuer)
Illustrative RIN II Post Refinancing Summary of Terms'2 Illustrative Refinancing Capital Structure'
Issuer III i'irilll[ III[ IIIIt IIII . RIN II Ltd.
% of Capital Size Pricing'
Co.Issuer • RIN II LLD Class Rating Structure (S millions) (L+bps)
Portfolio Advisor • RREEF America LLC
Class A (Aaal (61)% S[305] (110-125)
Final Redemption Date • 12 years
Reinvestment Period Up to 5 years
Class B IAal [12)% $[60) (135-155)
Target Equity IRR Net target equity IRR of 12%45%2
Base Advisory Fee [15) bps per annum of the Fee Basis Amount
Class C [Baal (12)% [240•275]
Subordinated Advisory Fee PO) bps per amen of the Fee Basis Amount
Incentive Fee Hurdle 11% Equity IRR
Equity [RR] [151% 5175)
Incentive Advisory Fee 20% after exceeding the Incentive Fee Hurdle
(1) Preliminary and subject to material change. Actual capital structure. transaction size, class sizes, rating levels and coupons of a Refinancing will be established at the time of a Refinancing and
may differ materially from those presented herein.
(2) Indicative based upon current market conditions that may change.
There is no guarantee that the objective will be achieved.
Deutsche Asset Management Infrastructure Debt Presentation: RIN II Equity
March 2018 25
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0063243
CONFIDENTIAL SDNY_GM_00209427
EFTA01370440