Adviser Select Spectrum Asset Management I Principal Preferred Securities As of 1O 2016 Performance Notes: Historical performance data relating to Spectrum Asset Management is provided by said manager. We do not guarantee its accuracy or completeness, and as such data may change without notice. Further information may be obtained directly from Spectrum Asset Management. Other portfolio metrics are calculated by Deutsche Bank based on information we deem reliable and accurate. Results reflect realized and unrealized appreciation and the reinvestment of dividend and interest income. Taxes have not been deducted. Performance results are shown both 'gross* (before the deduction of Adviser Select or investment advisory fees) and for illustration purposes, *net' of the maximum 1.4% program fee, deducted daily within Morningstar. In practice, the fee will be deducted quarterly by Deutsche Bank. The compound impact on performance of the deduction of fees is determined by the account size, the amount of the fee, the time period and the gross performance. Investment advisory fees are described in Part II of the Manager's Form ADV. Performance results will vary based upon the period measured. Past performance is no guarantee of future results. Spectrum Asset Managements SMA Preferred Securities Composite contains fully discretionary SMA preferred securities accounts. The composite may consist of accounts from more than one SMA sponsor platform. Creation date of Spectrum's SMA preferred securities composite is April 1. 2O36. Performance prior to April 1. 2006 reflects Spectrum's Intermediate Duration Preferred Securities institutional composite and does not reflect any actual SMA portfolios. Performance April 1. 2006 and thereafter reflects Spectrum's SMA Preferred Securities composite. Performance for time periods of one-year and greater are generated by geometrically linking Spectrum's SMA Preferred Securities composite (effective April 1. 2006) and Spectrum's In