Deutsche Asset l if & Wealth Management PO Be, 1776. B641M0111. MD 21203 Important Inform ation and Disclosures (continued) Deolsoc Mani Matt Meth Mafugertes Weans (wrap Gwv• Oeslie Si* Setweilet Inc Maw evk Office MPH. *Newt. NM ;In New *A. NY 10154 (MI 41.1/11. NM) 211409S Statement Period: 12/01/2014 -12131/2011 Foreign Currency Transactions Pershing may execute foreign currency transactions as principal for your account. Pershing may automatically convert foreign currency to or from U.S. dollars for dividends and similar corporate action transactions unless you instruct your financial organization otherwise. Pershing's currency conversion rate will not exceed the highest interbank conversion rate identified from customary banking sources on the conversion date or the prior business day, increased by up to 1%, unless a particular rate is required by applicable law. Your financial organization may also increase the currency conversion rate. This conversion rate may differ from rates in effect on the date you executed a transaction. incurred a charge, or received a credit. Transactions converted by agents (such as depositories) will be billed at the rates such agents use. The Role of Pershing • Pershing carries your account as clearing broker pursuant to a clearing agreement with your financial institution. Pershing may accept from your financial institution without inquiry or investigation (i) orders for the purchase and sale of securities and other property and (I) any other instructions conceming your account. Pershing is not responsible or liable for any acts or omissions of your financial institution or its employees and it does not supervise them. Pershing provides no investment advice nor does it assess the suitability of any transaction or order. Pershing acts as the agent of your financial institution and you agree that you will not hold Pershing or any person controling or under common control with it liable for any investment loss