28 January 2014
Brokers, Asset Managers & Exchanges
Alternative Asset Manager Initiation
Appendix 1
Important Disclosures
Additional information available upon request
rDisclosui a checklist
Company Ticker Recent price' Disclosure
The Blackstone Group BX.N 30.52 (USD) 27 Jan 14 1,7,8,17
Apollo Global Management APO.N 31.74 (USD) 27 Jan 14 1,7,8
The Carlyle Group CG.OQ 35.72 (USD) 27 Jan 14 1,2,7,8
KKR & Co. KKR.N 24.00 (USD) 27 Jan 14 1,7,8,14,15,17
Oaktree Capital Group OAK.N 57.36 (USD) 27 Jan 14 1,7,8
'Prices are 90.41Ced from local (niCinnOOS via Reuters. Bloomberg and other vendors Data os sourced from pentad,a earn and Subject COnipanteS
Important Disclosures Required by U.S. Regulators
Disclosures marked with an asterisk may also be required by at least one jurisdiction in addition to the United States.
See Important Disclosures Required by Non-US Regulators and Explanatory Notes.
1. Within the past year, Deutsche Bank and/or its affiliate(s) has managed or co-managed a public or private offering
for this company, for which it received fees.
2. Deutsche Bank and/or its affiliate(s) makes a market in securities issued by this company.
7. Deutsche Bank and/or its affiliate(s) has received compensation from this company for the provision of investment
banking or financial advisory services within the past year.
8. Deutsche Bank and/or its affiliatels) expects to receive, or intends to seek, compensation for investment banking
services from this company in the next three months.
14. Deutsche Bank and/or its affiliate(s) has received non-investment banking related compensation from this company
within the past year.
15. This company has been a client of Deutsche Bank Securities Inc. within the past year, during which time it received
non-investment banking securities-related services.
Important Disclosures Required by Non-U.S. Regulators
Please also refer to disclosures in the Important Disclosures Required by US Regulators and the Explanatory Notes.
1. Within the past year, Deutsche Bank and/or its affiliatels) has managed or co-managed a public or private offering
for this company, for which it received fees.
2. Deutsche Bank and/or its affiliate(s) makes a market in securities issued by this company.
7. Deutsche Bank and/or its affiliate(s) has received compensation from this company for the provision of investment
banking or financial advisory services within the past year.
17. Deutsche Bank and or/its affiliate(s) has a significant Non-Equity financial interest (this can include Bonds,
Convertible Bonds, Credit Derivatives and Traded Loans) where the aggregate net exposure to the following
issuer(s), or issuer(s) group, is more than 25m Euros.
For disclosures pertaining to recommendations or estimates made on securities other than the primary subject of this
research, please see the most recently published company report or visit our global disclosure look-up page on our
website at http://qm.db.comkter/disclosure/DisclosureDirectorv.eqsr
Deutsche Bank Securities Inc. Page 69
CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0109755
CONFIDENTIAL SDNY_GM_00255939
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