Deutsche Bank AG e an naup SOUTHERN FINANCIAL, LL R 182298 Nov 15 Fa Sales Inquirles Contact Daniel Sab t, For questions relating to Mis statement contact Valuations RV (Tel) 1 (Email) SOUTHERN FINANCIAL, LLC 7717171: 7r7":7 17 17' To: Jabwcpa Gmail (Email) Richard Kahn12 (Email) Mark Whyman (Email) Hm./ Clientseryices (Email) Gedeon Pinedo (Email) >Amanda Ktrby (Email) Paul Morris (Email) Vahe Stepanian (Email) Daniel Satte (Email) Ariane Dwyer (Email) 26 Nov 2015 Page 1 Of 3 FX RS* USD/EUR = 9432627647 Note:-All Values are shown from the DB Group's point of view. A negative Value therefore expresses an amount which is in your favour, white a positive amount is one which is in DB Group favour. The terms and conditions of each transaclion are specified In the relevant trade Confirmation. 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 typicalty derived all or in part from model pnces, externe' sources, market prices and/or DB's intemal 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 deebne 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 Chose containing Premium Adjustments, may not represent the terms at which new transactions or instruments could be entered into witti DB or the tenns at which existing transactions or instruments cou