Managing Director Deutsche Bank Private Sank From: Chip Packard Sent: Tuesday, November 10, 2015 1:23 PM To: Paul Morris Subject: RE: Southern Financial [C] Classification: Confidential Thanks, I am sandwiched today and this needs immediate attention so please take up with Gallivan and keep me in the loop. I am not as confident though that we can handle this through investor sales and you guys as this is non-advised business. Let's think this through carefully. Chip Packard Managing Director l Co-Head. Wealth Management Americas Deutsche Bank Trust Company Americas Deutsche Asset & Wealth Management 345 Park Avenue. 24th Floor PARS-Kir/ Peffifrent Securities offered through Deutsche Bank Securities. Inc. From: Paul Morris Sent: Tuesday, November 10, 2015 11:09 AM To: Chip Packard Subject: Southern Financial [C] Classification: Confidential JE called, he requested coverage change, not working with DS, before I reach out to Todd wanted to discuss, between new investor sales/me /Stew we should be able to cover and increase flow business. Paul Morris Managing Director Deutsche Bank Private Bank CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 118925 CONFIDENTIAL SDNY_GM_00265109 EFTA01458827