Deutsche Asset & Wealth Management OO Strategies Globally diversified multi-asset class portfolios Our Investment Management Philosophy Provide our clients with strong risk-adjusted returns Provide an optimal mix of asset classes using our proprietary quantitative models Leverage the best thinking of Deutsche Bank globally Maintain a rigorous, transparent and repeatable investment process Our Investment Management Approach A forward-looking approach which does not rely solely on historical returns. Dynamic allocation in response to changes in the Macroeconomic outlook or opportunities in the marketplace. Open architecture approach with managers vetted by both Global Manager Research and the Americas Investment Committee Performance for CIO Strategies with U.S. Core Equity' as U.S. large cap vehicle for tax paying clients gross of fees as of 3/31/15 Roll' 1 Returns 2014 Income 4.03 8.61 9.68 1.19 8.59 19.02 -1661 8.90 9.12 612 239 5.31 621 640 5.76 5 57 Gtowth and Income 4.37 12.79 12.03 -1.03 11.33 23.78 -23.04 10.92 11.78 7.03 2.95 6.94 7.90 7.76 6.65 6.41 Growth 4.84 17.64 14.43 -2.94 13 79 29.09 -30.42 12.52 14.39 7 96 3.51 8.30 9.78 9.27 7.35 7.07 Maximum Growth 5.37 22.27 16.16 4.65 15.89 34.76 -35.93 13.97 16.66 8.78 4.02 9.74 11.46 10.56 8.08 7.75 Income Portfolio Growth Portfolio Memaliyes. 8.0% Equ' 645'1 Asset Allocation Growth & Income Portfolio Allernalives. 9.5% Fixed Ina 12.0% Eciinto,N FOLfni 470'" notrivra. 435 iii Maximum Growth Portfolio AlIernalives, 7.0% Asset Class Breakdown Growth & Income Portfolio Strategic Tactical Allocation Allocation Equities 49.0% U.S. Large Cap U.S. Small Cap EAFE European Japan Pacific ex-Japan Emerging Market Core Emg Mkts Equity Emg Mkts As,a Equity, Municipal Bonds High Yield Bonds Intl Bond s - Hedged Emerging Market Bonds TIPS Cash 23.5% 2.5% 17.0% 11.5% 3.0% 2.5% 6.0% 23.5% 2.