Subject: Great to meet you! ; Davide-A Sferrazza Paul, Richard, From: Bradley Gitlin Sent: 9/25/2017 5:21:08 PM To: Stewart 0ldfield Subject: RE: meeting notes - Southern Financial !II Classification: For internal use only Added. From: Stewart Oldfield Sent: Monday, September 25, 2017 5:09 PM To: Bradley Gitlin Subject: meeting notes - Southern Financial Please add to DB force under Southern Financial and Paul S. Barrett/Alpha Group Capital. There should be a few in there already for SF 9/20/17 DB — Stewart Oldfield, Todd Stevens, Dan Kaiser, Xavier Avila, Martin Zeman, Josh Shoshan Southern Financial — Rich Kahn (CFO) and Paul Barrett (portfolio manager) Met to introduce DB team to Paul Paul opened his own RIA with Southern Financial as their initial client Discussed plans to trade SF RC and STC accounts Will look at all asset classes Requires a great deal of coverage support from DB Will be a major ramp in trading once up and running More color below From: Martin Zeman Sent: Wednesday, September 20, 2017 12:57 PM To: Paul Barrett Richard Kahn Joshua Shoshan Daniel-E Kaiser >; Stewart Oldfield Vahe Liam Osullivan It was a pleasure meeting you both this morning. As a follow-up, we will prioritize the ISDA re-activation so we can get going as soon as possible. In the meantime, we can start sending you trade ideas that we find interesting. Attached is a research piece Jim Reid (Deutsche Bank's most read analyst) published on Monday discussing where the Next Financial Crisis could come from. Clearly he doesn't agree with Nassim Taleb's black swan theory, but it's an interesting read. Follow-up items: Research access Flowchart for the rest of the team Electronic communications form CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0084574 CONFIDENTIAL SDNY_GM_00230758 EFTA01384410