Thank you, Vahe From: Roddy Moore Sent: Tuesday, July 07, 2015 10:43 AM To: Vahe Stepanian; Troy-D Williams Cc: Paul Morris; Stewart Oldfield; Daniel Sabba; Andrew Xu Subject: RE: Southern Financial and Southern Trust ISDA/CSAs [I] We're going to need updated financials to amend the CSA. From a process perspective, we'll review the financials with the ask in mind and determine if the ask is supported by what we see. If so, then we submit the request for the amendment. If not, then we'll let you know what we're comfortable with. If we can come to an agreement, then we submit the request for the amendment. Keep in mind that we consider each entity separately. Meaning... If SF wants $100MM, then the SF balance sheet needs to support $100MM. Thanks. Roddy Moore Credit Risk Management Deutsche Asset & Wealth Management (P) 212-454-1162 From: Vahe Stepanian Sent: Tuesday, July 07, 2015 10:28 AM To: Troy-D Williams; Roddy Moore Cc: Paul Morris; Stewart Oldfield; Daniel Sabba; Andrew Xu Subject: Southern Financial and Southern Trust ISDA/CSAs [I] Classification: For Internal use only Troy/Roddy — we are following up on our conversations last week regarding Southern Financial and Southern Trust's existing ISDAs with Deutsche Bank. As mentioned, the CSAs currently have USD 40mm and USD 10mm "Tier I Ceiling Limit" respectively (ISDA/CSAs are attached). The client has requested that we increase Southern Financial LLC's Tier I Ceiling Limit to USD 1O0mm. On Thursday 7/2/15, Southern Financial sold EURUSD calls to offset the cost of purchasing EURUSD puts, which required that SFLLC post collateral. Per the STG FX desk, given the size of the sold calls (EUR 75mm notional), Southern Financial is using up a significant portion of its' current Tier 1 capacity per the CSA. Given the client has already indicated that he may wish to add to his positions, we would like to understand the process by which we can amend the CSA to grant the client additional ca