e an raup 13 Nov 2015
SOUTHERN FINANCIAL L.LC Page 1 Of 3
18
Deutsche Bank AG
Fat Sales Inquides Contact
Daniel Sabba F,ni I ,
For questions relating to this statement contact
Valuations NY (Tel) a . E r-ail
SOUTHERN FINANCIAL. LIC
To: Jabwcpa Gmail (Erna Rchard Kahn12 (Erna,» Hnw Clientservices (Email) Gedeon Pmedo (Email) Vahe Stepanian (Email)
Mark Whyman (Email) Amanda Kirby (Email) Paul Morin (Email) Daniel Sabba (Email) eAriane Dwyer (Email)
FX Ratst USD/EUR = 9299297923
Note:4dt Values are shown from the DB Group's point of view. A negative Value therefore expressas an amount which is in your favour, while a positive amount is one which is in DB Group favour. The terms and conditions of each transaclion are specified in the
relevant trade Confirmation.
Deutsche Bank Group ("DB") is providing the valuations set forti above as an accommodation to you solely for your oven intemal use. Unless expressly stated othenvise. valuations represent Da's current economic assessment of the transaction or instrument as
of the date specified. economie assessment is typicalty denved all or in part from model prises, externe' sources, market prices ancUor DB's intemal books and records prises. Valuations may be adjusted to take info account market, liquidity, credit,
operational or other risks, and/or to refleet adjustments based uØ 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
always delline over time. as Das appetite to unwind at a premium will generally delline over time, which wilt lead to lower valuations in Me absence of changes in market conditions. Valuations, including Chose containing Premium Adjustments, 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 liquidated or unwound with DB. DB may change its valuation methodology and the related
adjustments and assumptions at any time. so Wat future valuations may be tess favourable than the current ones, even in the absence of an adverse development in market conditions. Valuations based on different assumptions or calculated using other
methodologies may also yield different results and any adjustments may not apply for the duration of the transaction or instrument. My subsequent valuations provided to you will almost certainly differ from Mis valuation. This differente can be less favourable to
you. and due to the volatility of merkel conditions, the size or national amount of the decrease or increase and other factors. Me differentie' could be substantie'. DB shall not be liable for any errors or omissions made in calculating or disseminating valuations. or
for any inaccuracies or flaws in the methodologies. adjustrnents or assumptions. DB specifically disclaims liability tor any losses or damages (incidente'. consequentie] or otherwise) Mat may arise trom valuations 'flat are either used or relied upon by you or any
other party for any reason including, without limitation, your use of valuations in preparabon of your own financial books and records.
Statement 10 18229820151112. 20151113 1
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0118913
CONFIDENTIAL SDNY_GM_00265097
EFTA01458818