From: Stewart Oldfield Sent: 10/19/201712:07:01 PM To: Martin Zeman Subject: Re: Call with our Muni desk - II] Classification: For Internal Use Only No stress. Will call later. Stewart Oldfield, CFA, CAIA Director Deutsche Bank Trust Company Americas Deutsche Bank Wealth Management 345 Park Avenue, New York, NY 10154 Email: Securities offered through Deutsche Bank Securities Inc. From: Martin Zeman Sent: Thursday, October 19, 2017 08:03 AM To: Stewart Oldfield Subject: RE: Call with our Muni desk - [I] I apologize Stewart, didn't realize this. I will unwind this. Let's talk when you're back. From: Stewart Oldfield Date: Thursday, Oct 19 2017. 10:51 To: Martin Zeman a2M> Subject: Rc: Call with our Muni desk - ili Classification: For Internal Use Only Please don't have this call. Deposits are strategically important to us. Jeffrey also has a specific tax set up that makes munis less attractive. We should have discussed this first. Stewart Oldfield, CFA, CAIA Director Deutsche Bank Trust Company Americas Deutsche Bank Wealth Management 345 Park Avenue, New York, NY 10154 Email: Securities offered through Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0090572 CONFIDENTIAL SDNY GM_00236756 EFTA01387577