SOF III - 1081 Southern Financial LLC DB Secondaries has consistently priced below market Proprietary sourcing. pricing discipline and an experienced team have led to significant, consistent discount' % of NAV 120 109 110 90 80 84 70 60 50 65 40 Rale, 7 H08 Premium 42 '11111 Hill' '11111 Hill' '11111 Hill' 69 70 H13 21108 1H09 2I-109 11110 21110 11111 21111 11112 2H12 1 —0—Secondary market pricing (Buyout funds) —4{—DB Secondaries pricing !Ili -- -- - ''; Past performance is not a predktion of the future performance of 08 SOP. DB SOF D. 08 SOF II or SOF Ill hut is included to demonstrate the track record of the DB Secondaries team • please refer to the Certain Risk Factors section. No assurance can be given that the performance of unrealized Investments has not significantly changed from the date the performance refletted herein was determined. Investments in private equity are speculative and involve significant risks. An investor should only invest if the investor can withstand a total loss of its investment Histnrreil deal lime characternlirat de furl provide a presets', of future deal flow trends. Sex 'important Performanne Kant motion' at the and of than uunetnlaturn. NAV • Net Asset Value DO Secorularies pricing excludes direct pnrtfolars and co-investments. ._89utse..D.O.P.tecative.no..the.unauaetweemomaicuteart.the_DB.Sosonfl•IMaimthe-,....aloblurn.N.2Q.I.I.Aual.CoZra8s5oralaur_Pnctia.tr.endklaknahran...lafr..2014 Deutsche Asset ..4". Wealth Menagemeni 84 24 CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0 108632 SDNY_GM_00254816 EFTA01451814