EFTA01455994

1 e an raup fT71711,2zr" 1777 290et 2014 SOUTHERN FINANCIAL, LL Page 1 Of 2 R 1 Deutsche Bank AG Fa Sales lnqu Tazia Smith For questions relating to this statement contact Valuations NY (Tel) 1-212-250-2600 (Email) valuabons.ny@db.com SOUTHERN FINANCIAL, LLC To: Jabwe a Gmail Email J ‚Richard Kahn12 (Ema edeon Pinedo (Erfla Vahe Stepanian (Email .Joseph Cothron (Email) azta Smith (Email) 'Sande Kirby (Emai Paul Morris -mal Daniel Sabba (Email Fx Rates: USD)EUR = .783637646 Note:-All Values are shown from the OB Group's point of view. A negative Value therefore expresses an amount which Is in your favour, white a positive amount is one which is in OB Group favour. The tenns and conditlons of each transaction are specified in the relevant trade Confirmation. Deutsche Bank Group ("Dr) is providing the valuations set form above as an accommodation to you solely lor your own interner use. Unless expressly stated othenvise, valuations represent Mars current economie assessment of the transaction or instrument as of the date specified. DB's economic assessment is typicalty derived all or in part from model prices, externe' sources. market prices and/or OB's internat books and records prices. Valuations may be adjusted to take into account market, liquidity, credit, operational or other nsks, and/or to reflect adjustments based upon our willingness to unwind all or part of your position or revenue that has been generated but not yet recognized by DB (Premium Adjustments"). Such Premium Adjustments will generally atiways dedine over time. as DB's appetite to unwind at a premium will generally dectine over time, which will lead to lower valuations in the absence of changes in market conditions. Valuabons, including those containing Premium Adjustrnents, may not represent the terms at which new transactions or instruments could be entered into with DB or the terms at which existing transactions or instruments could be tiquidated or umwund with DB. DB may change its valuation rnethodology and the related adjustments and assumptions at any time. so that future valuations may be less favourable than the current eines, even in the absence of an adverse development in market conditions. Valuations based an different assumptions or calculated using other methoddogies may also yield different results and any adjustments may not apply for the duration of the transaction or instrument. Any subsequent valuations provided to you will almost certainly «fei from this valuabon. This difference can be less favourable to you, and due to the volatility of market conditions. the size or notional amount of the decrease or increase and other factors. the differential could be substantial. DB shall not be lieble for any errors or omisslons made in calculating or disseminating valuations, or for any inaccurades or flaws in the methodologies, adjustments or assumptions. DB specifically disclaims liability for any losses or damages (incidental, consequential or otherwise) that may arise from valuations Mat are eiroer used or relied upon by you or any other party for any reason including, without limitation, your use of valuations in preparation of your own financial books and records. Statemen CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0115040 CONFIDENTIAL SDNY_GM_00261224 EFTA01455994