Important notes The asset allocations described herein are formulated by the Regional Investment Committee within Wealth Management (RIC) and may utilize the following asset class components: U.S. large cap equity. U.S. small cap equity, Japan equity, Europe equity. Pacific ex-Japan equity. emerging markets eqUity. U.S. fixed income, U.S. high-yield bonds. international bonds, emerging market bonds, municipal bonds. Treasury Inflation Protected Securities, hedge funds. Real Estate Investment Trusts, commodities. and cash. RIC currently recognizes four basic investment strategies: Income. Growth & Income. Growth, and Maximum Growth. The strategy selected is based upon the individual investor's objectives and risk tolerance. Your selected portfolio will determine the specific allocation to the asset classes represented by the vehicles described herein. Please note returns for the large cap equity portion are represented by the Quality Growth Composite. Implementation vehicles and asset allocations are determined by the WM Regional Investment Committee (RIC) and are change subject at their discretion. Results presented herein do not represent the results of actual trading using client assets. The returns shown in this document are model returns and do not reflect Deutsche Bank management fees or other expenses that may be incurred in the actual management of an account. If such fees and expenses were deducted, the results would be lower. Please be advised of the limitations inherent in using model results. Accounts managed according to the Model may perform differently over the same time period depending on the size of the account. restrictions, the amount of the transaction and related costs, the inception date of the account and other factors. Actual clients may experience returns that are more or less than those of the Model. These model returns do not reflect the impact that material economic factors may have had on our decision-making. Model returns are