Deutsche Bank AG gY2fri e an roup SOUTHERN FINANCIAL. LLC .• Fa Sales Inquirles Contact Daniel Sabba Fivi I, For questions relating to this statement contact Valuations RV (Tel) (Email) SOUTHERN FINANCIAL, LLC To: Jabwcpa Gmail (Emainachard Kahn12 (Email) 25 Nov2015 Page 1 Of 3 Clrentservices (Email) Gedeon Pmedo (Email) flaVahe Stepanian (Email) .MarkWhyman (Email) amanda Knby (Email) Paul Morns (Email) Daniel Sabba (Email) Ariane Dwyer (Email) Fx Rat« USD/EUR = 9398054623 Note:-AN Values are shown from the DB Group's point of view. A negative Value therefore expresses an amount which is in your favour, while a positive amount is one which is in DB Group favour. The terms and conditions of each transaclion are specified in the relevant trade Confirmabon. Deutsche Bank Group ("DB") is providing the valuations set forti above as an accommodation to you solely for your own intemal use. Unless expressly stated othenvise. valuations represent DB's current economic assessment of the transaction or instrument as of the date specified. [es economie assessment is typically derived all or in part from model pnces. externe' sources, market prices and/or 0B's interne' books and records prices. Valuations may be adjusted to take into account market, bquidity, credit, operational or other risks, and/or to reflect adjustments based upon our willingness to unwind all or part of your position or revenue that has been generated but not yet recognized by DB ("Premium Adjustments"). Such Premium Adjustments will generally always decline over time. as DB's appetite to unwind at a premium will generally dedine over time, which will lead to lower valuations in the absence of changes in market conditions. Valuations, including those containing Premium Adjustments, may not represent the ferms at which new transactions or instruments could be entered into with DB or the tenns at which existing transactions or instruments could be liquidated or unwound wit