Deutsche Bank VA Dodd-Frank Title VII Regulation: Annual Notice of Right to Segregation of Initial Margin for Uncleared Swaps ("IM") Dear Collateral Officer': Deutsche Bank AG ("Deutsche Bank') is provisionally registered as a swap dealer with the Commodity Futures Trading Commission (-CFTC") under The Dodd-Frank Wall Street Reform and Consumer Protection Act (-Dodd- Frank"). This communication is to remind you that if you are a U.S. Person or a Guaranteed Affiliate or Affiliate Conduit of a U.S. Person (each as defined by the CFTC), you have a right to segregate any initial margin that you post in respect of CFTC-regulated uncleared swaps. In accordance with CFTC rule 23.701, we are notifying you that, to the extent you post IM in respect of any CFTC- regulated uncleared swap with us that is executed on or subsequent to the applicable compliance date, you have the right to elect that IM be segregated in accordance with the requirements set forth in CFTC rules 23.702 and 23.703 (the "CFTC Segregation Regime"). Unless you wish to change the election you previously made (or were deemed to have made), your existing segregation arrangements. if any. will remain in effect and will apply to future CFTC- regulated uncleared swap transactions. You may change your election at any time by delivering written notice to us. If you elect to require the CFTC Segregation Regime, certain documentation, including a tri-party custodial agreement that meets the requirements of the CFTC Segregation Regime, must be put in place. Choosing this election might prevent us from entering into new CFTC-regulated uncleared swaps with you until such documentation is in place.2 Unless your most recent election with us is to require the CFTC Segregation Regime, if you do not respond within twenty (20) business days of receipt of this Annual Notice of Right to Segregation of Initial Margin, we will deem you to have confirmed receipt of this notice by your Collateral Officer and to ha