Deutsche Bank



Contacts

As of March 31, 2017





CUSTODY OFFICER

ARTHUR TENDLER

60 Wall Street

New York, NY 10005



<table><tr><td>Account Name:</td></tr><tr><td>Account Number:</td></tr><tr><td>Base Currency:</td></tr></table>



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DB-SDNY-0002357
EFTA_00015831


EFTA00166583

Deutsche Bank

This Page Intentionally Left Blank

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DB-SDNY-0002358
EFTA_00015832


EFTA00166584

## Deutsche Bank



Portfolio Summary

As of March 31, 2017

<table border="1"><tr><td>Account Name:</td><td>JEFFREY EPSTEIN</td></tr><tr><td>Account Number:</td><td></td></tr><tr><td>Base Currency:</td><td>USD</td></tr></table>

<table border="1"><tr><td>Asset Class</td><td>Adjusted Cost Basis in USD</td><td>Market Value in USD</td><td>% of Category</td></tr><tr><td>Cash and Cash Equivalents</td><td>117,660.28</td><td>118,167.80</td><td>100.00%</td></tr><tr><td>Total</td><td>117,660.28</td><td>118,167.80</td><td>100.00%</td></tr><tr><td colspan="4">Current Period</td></tr><tr><td>Estimated Annual Income</td><td>0.11</td><td></td><td></td></tr><tr><td>Total</td><td>0.11</td><td></td><td></td></tr></table>



<table border="1"><tr><td>Market Value Reconciliation in USD</td><td>Current Period</td><td>Year to Date</td></tr><tr><td>Opening Balance as of March 1,2017</td><td>17,757.01</td><td>37,122.55</td></tr><tr><td>Addition/Withdrawal</td><td></td><td></td></tr><tr><td>Cash Disbursement</td><td>(328,568.49)</td><td></td></tr><tr><td>Cash Receipt</td><td>430,000.00</td><td></td></tr><tr><td>Net Addition/Withdrawal</td><td>101,431.51</td><td>80,218.62</td></tr><tr><td>Income</td><td></td><td></td></tr><tr><td>Interest</td><td>(5.05)</td><td></td></tr><tr><td>Change in Accrued Income</td><td>5.82</td><td></td></tr><tr><td>Net Income</td><td>0.77</td><td>(18.83)</td></tr><tr><td>Realized Currency Gain/Loss</td><td>(1,517.11)</td><td>(1,438.64)</td></tr><tr><td>Change in Unrealized Currency Gain/Loss</td><td>495.62</td><td>2,284.10</td></tr><tr><td>Closing Balance as of March 31,2017</td><td>118,167.80</td><td>118,167.80</td></tr></table>

Note: Market Values Include Accrued Income

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DB-SDNY-0002359
EFTA_00015833


EFTA00166585

## Deutsche Bank



Regional Diversification

As of March 31, 2017

Account Name: JEFFREY EPSTEIN

Account Number:



<table border="1"><tr><td>Allocation by Region</td><td>Cash and Cash Equivalents in USD</td><td>Fixed Income in USD</td><td>Equity in USD</td><td>Alternative Investments in USD</td><td>Market Value in USD*</td><td>% of Category</td></tr><tr><td>Europe</td><td>118,142.65</td><td>0.00</td><td>0.00</td><td>0.00</td><td>118,142.65</td><td>99.98%</td></tr><tr><td>United States/Canada</td><td>25.15</td><td>0.00</td><td>0.00</td><td>0.00</td><td>25.15</td><td>0.02%</td></tr><tr><td>Total</td><td>118,167.80</td><td>0.00</td><td>0.00</td><td>0.00</td><td>118,167.80</td><td>100.00%</td></tr></table>

* Excludes Foreign Exchange Contracts

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DB-SDNY-0002360


EFTA_00015834

EFTA00166586

## Deutsche Bank



Currency Diversification

As of March 31, 2017

Account Name: JEFFREY EPSTEIN

Account Number:



Base Currency:

<table border="1"><tr><td>Allocation by Currency</td><td>Cash and Cash Equivalents in USD</td><td>Fixed Income in USD</td><td>Equity in USD</td><td>Alternative Investments in USD</td><td>Foreign Exchange in USD</td><td>Market Value in USD</td><td>% of Category</td></tr><tr><td>US Dollar(USD)</td><td>25.15</td><td>0.00</td><td>0.00</td><td>0.00</td><td>0.00</td><td>25.15</td><td>0.02%</td></tr><tr><td>Euro(EUR)</td><td>118,142.65</td><td>0.00</td><td>0.00</td><td>0.00</td><td>0.00</td><td>118,142.65</td><td>99.98%</td></tr><tr><td>Total</td><td>118,167.80</td><td>0.00</td><td>0.00</td><td>0.00</td><td>0.00</td><td>118,167.80</td><td>100.00%</td></tr></table>

Exchange Rates

| USD 1 = USD 1.00000 | USD 1 = USD 1.00000 |

| :--- | :--- |

|

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DB-SDNY-0002361
EFTA_00015835


EFTA00166587

Deutsche Bank



Detailed Portfolio Information

As of March 31, 2017

Account Name: JEFFREY EPSTEIN

Account Number:



List of Holdings - Cash and Cash Equivalents

| Base Currency: | USD |

| :--- | :--- |

<table><thead><tr><th>Quantity</th><th>Security Description Security ID</th><th>Moody&#39;s/S&P Rating</th><th>% of Category</th><th>Local Unit Cost</th><th>Price in USD Local Price</th><th>Adjusted Cost Basis in USD</th><th>Market Value in USD</th><th>Accrued Income in USD</th><th>Estimated Annual Income in USD</th><th>Yield to Maturity %</th></tr></thead><tbody><tr><td colspan="11">Cash</td></tr><tr><td>110,744.91</td><td>EURO</td><td></td><td>99.98%</td><td>EUR 1.000</td><td>USD 1.067 EUR 1.000</td><td>117,640.95</td><td>118,142.65</td><td></td><td></td><td></td></tr><tr><td>Total Cash</td><td></td><td></td><td>99.98%</td><td></td><td></td><td>117,640.95</td><td>118,142.65</td><td></td><td></td><td></td></tr><tr><td colspan="11">Cash Management United States</td></tr><tr><td>19.33</td><td>DEUTSCHE GOVERNMENT CASH INSTITUTIONAL SHARES</td><td></td><td>0.02%</td><td>USD 1.000</td><td>1.000</td><td>19.33</td><td>19.33</td><td>5.82</td><td></td><td>0.57%</td></tr><tr><td>Total United States</td><td></td><td></td><td>0.02%</td><td></td><td></td><td>19.33</td><td>19.33</td><td>5.82</td><td></td><td>0.57%</td></tr><tr><td>Total Cash Management</td><td></td><td></td><td>0.02%</td><td></td><td></td><td>19.33</td><td>19.33</td><td>5.82</td><td></td><td></td></tr><tr><td>Total Cash and Cash Equivalents</td><td></td><td></td><td>100.00%</td><td></td><td></td><td>117,660.28</td><td>118,161.98</td><td>5.82</td><td></td><td></td></tr><tr><td>Total Accrued Income</td><td></td><td></td><td></td><td></td><td></td><td></td><td>5.82</td><td></td><td></td><td></td></tr><tr><td>Total Cash and Cash Equivalents including Accrued Income</td><td></td><td></td><td></td><td></td><td></td><td></td><td>118,167.80</td><td></td><td></td><td></td></tr></tbody></table>

Adjusted Cost Basis column reflects Tax Cost for those clients who subscribe to our tax cost services; for all other clients, we report Average Cost. For Cash Management vehicles and Money Market Funds, Annual Yield is reported in the Yield to Maturity column.

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DB-SDNY-0002362
EFTA_00015836


EFTA00166588

## Deutsche Bank



# Transaction Summary

March 1, 2017 to March 31, 2017

<table border="1"><tr><td>Account Name:</td><td>JEFFREY EPSTEIN</td></tr><tr><td>Account Number:</td><td></td></tr><tr><td>Base Currency:</td><td>USD</td></tr></table>



<table border="1"><tr><td></td><td colspan="2">US Dollar(USD)</td></tr><tr><td></td><td>Amount</td><td>Amount Year to Date</td></tr><tr><td>Transaction Category</td><td></td><td></td></tr><tr><td>Opening Balance as of March 1,2017</td><td></td><td></td></tr><tr><td>Cash Management</td><td>19.33</td><td>18.01</td></tr><tr><td>Cash</td><td>17,737.68</td><td>37,104.54</td></tr><tr><td>Addition/Withdrawal</td><td></td><td></td></tr><tr><td>Cash Disbursement</td><td>(328,568.49)</td><td>(454,781.38)</td></tr><tr><td>Cash Receipt</td><td>430,000.00</td><td>535,000.00</td></tr><tr><td>Net Addition/Withdrawal</td><td>101,431.51</td><td>80,218.62</td></tr><tr><td>Investment Income</td><td></td><td></td></tr><tr><td>Dividend</td><td>0.00</td><td>1.32</td></tr><tr><td>Interest</td><td>(5.05)</td><td>(25.97)</td></tr><tr><td>Net Investment Income</td><td>(5.05)</td><td>(24.65)</td></tr><tr><td>Realized FX Gain/Loss on Cash</td><td>(1,517.11)</td><td>(1,438.64)</td></tr><tr><td>Unrealized FX Gain/Loss on Cash</td><td>495.62</td><td>2,284.10</td></tr><tr><td>Closing Balance as of March 31,2017</td><td></td><td></td></tr><tr><td>Cash Management</td><td>19.33</td><td>19.33</td></tr><tr><td>Cash</td><td>118,142.65</td><td>118,142.65</td></tr></table>

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DB-SDNY-0002363
EFTA_00015837


EFTA00166589

## Deutsche Bank



Transaction Summary - Foreign Currency

March 1, 2017 to March 31, 2017

| Account Name: | JEFFREY EPSTEIN |

| :--- | :--- |

Account Number:



Base Currency:

<table border="1"><tr><td></td><td>Euro(EUR)</td><td>US Dollar(USD)</td><td>US Dollar(USD)</td><td>Grand Total in Base CCY(USD)</td></tr><tr><td colspan="5">Transaction Category</td></tr><tr><td>Opening Balance as of March 1,2017*</td><td>16,743.15</td><td>17,737.68</td><td>19.33</td><td>17,757.01</td></tr><tr><td>Addition/Withdrawal</td><td>(310,761.54)</td><td>(328,568.49)</td><td></td><td>(328,568.49)</td></tr><tr><td>Investment Income</td><td>(4.68)</td><td>(5.05)</td><td></td><td>(5.05)</td></tr><tr><td colspan="5">Investment Activity</td></tr><tr><td>Capital Gains Distribution</td><td></td><td></td><td></td><td></td></tr><tr><td>Currency Exchange</td><td>404,767.98</td><td>430,000.00</td><td></td><td>430,000.00</td></tr><tr><td>Realized FX Gain/Loss on Cash</td><td></td><td>(1,517.11)</td><td></td><td>(1,517.11)</td></tr><tr><td>Unrealized FX Gain/Loss on Cash</td><td></td><td>495.62</td><td></td><td>495.62</td></tr><tr><td>Closing Balance as of March 31,2017</td><td>110,744.91</td><td>118,142.65</td><td>19.33</td><td>118,161.98</td></tr></table>

* Opening and closing currency balances include sweeps

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DB-SDNY-0002364
EFTA_00015838


EFTA00166590

## Deutsche Bank



# Transaction Details

March 1, 2017 to March 31, 2017

| Account Name: | JEFFREY EPSTEIN |

| :--- | :--- |

Account Number:

Base Currency:



<table><thead><tr><th>Trade Date Settlement Date</th><th>Transaction Type</th><th>Description Security ID</th><th>Quantity</th><th>Amount in Local CCY Amount in USD</th><th>Cost in Local CCY Cost in USD</th><th>Realized Gain/Loss in USD</th></tr></thead><tbody><tr><td colspan="7"><strong>Transactions for US Dollar (USD)</strong></td></tr><tr><td>03/03/2017<br>03/03/2017</td><td>Cash Receipt</td><td>RECEPT OF FUNDS</td><td>430,000.00</td><td>430,000.00</td><td></td><td></td></tr><tr><td>03/03/2017<br>03/03/2017</td><td>Regular Sweep Purchase</td><td>PURCHASE OF SECURITY DEUTSCHE GOVERNMENT CASH INSTITUTIONAL SHARES</td><td>430,000.00</td><td>(430,000.00)</td><td></td><td></td></tr><tr><td>03/03/2017<br>03/06/2017</td><td>Currency Exchange</td><td>PURCHASE FOREIGN EXCHANGE SPOT EURO CURRENCY THROUGH: DEUTSCHE BANK - LONDON BUY: EUR 404,767.98 SELL: USD 430,000.00 PRICE: 1.00234</td><td>(430,000.00)</td><td>(430,000.00)</td><td></td><td></td></tr><tr><td>03/06/2017<br>03/06/2017</td><td>Regular Sweep Sale</td><td>SALE OF SECURITY DEUTSCHE GOVERNMENT CASH INSTITUTIONAL SHARES</td><td>(430,000.00)</td><td>430,000.00</td><td></td><td></td></tr><tr><td colspan="7"><strong>Transactions for Euro (EUR)</strong></td></tr><tr><td>03/03/2017<br>03/03/2017</td><td>Cash Disbursement</td><td>DISBURSEMENT OF FUNDS FUNDS TRANS TO BNP PARIBAS SSB REF# SCMS170302685668 BAN: BI58001406700179 REF: IVV17021704JAN/FEB 2017) SWIFT REF# 17030298257 FX RATE: 0.9419</td><td>(3,300.00)</td><td>(3,300.00)<br>(3,503.45)</td><td></td><td>8.63 FX</td></tr><tr><td>03/03/2017<br>03/03/2017</td><td>Cash Disbursement</td><td>DISBURSEMENT OF FUNDS FUNDS TRANS TO BANCO DO BRASIL SA SSB REF# SCMS170302685668 SWIFT REF# 1703039ATB4 FX RATE: 0.9419</td><td>(5,000.00)</td><td>(5,000.00)<br>(5,308.25)</td><td></td><td>13.07 FX</td></tr><tr><td>03/03/2017<br>03/06/2017</td><td>Currency Exchange</td><td>PURCHASE FOREIGN EXCHANGE SPOT EURO CURRENCY THROUGH: DEUTSCHE BANK - LONDON BUY: EUR 404,767.98 SELL: USD 430,000.00 PRICE: 1.00234</td><td>404,767.98</td><td>404,767.98<br>430,000.00</td><td></td><td></td></tr></tbody></table>

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DB-SDNY-0002365


| EFTA_00015839 |
| :--- | :---

EFTA00166591

## Deutsche Bank



# Transaction Details

March 1, 2017 to March 31, 2017

| Account Name: | JEFFREY EPSTEIN |

| :--- | :--- |

Account Number:



Base Currency:

<table><thead><tr><th>Trade Date Settlement Date</th><th>Transaction Type</th><th>Description Security ID</th><th>Quantity</th><th>Amount in Local CCY Amount in USD</th><th>Cost in Local CCY Cost in USD</th><th>Realized Gain/Loss in USD</th></tr></thead><tbody><tr><td colspan="7">Transactions for Euro (EUR)</td></tr><tr><td>03/07/2017<br>03/07/2017</td><td>Cash Disbursement</td><td>DISBURSEMENT OF FUNDS<br>FUNDS TRANS TO CREDIT AGRICOLE CENTRE<br>D&#39;AFFAIRES SSB REF# SCMS170306733617<br>IBAN: FR7618206002804248381300136 REF:1ST<br>DEPOSIT ON LOOSE DECORATIVE NY PROJECT<br>SWIFT REF# 170307040<br>FX RATE: 0.9461</td><td>(300,000.00)</td><td>(300,000.00)<br>(317,099.93)</td><td></td><td>(1,580.93) FX</td></tr><tr><td>03/22/2017<br>03/22/2017</td><td>Interest</td><td>NEGATIVE IDLE CASH INTEREST</td><td>(4.68)</td><td>(4.68)<br>(5.05)</td><td></td><td>0.08 FX</td></tr><tr><td>03/24/2017<br>03/24/2017</td><td>Cash Disbursement</td><td>DISBURSEMENT OF FUNDS<br>FUNDS TRANS TO CREDIT LYONNAIS SSB REF# SCMS17032183304 IBAN: FR2330002004690000060269070 SORT CODE: 30002 RIB CODE: 00091 17CODE<br>GUCHET:00469 KEY CODE: 70<br>FX RATE: 0.9265</td><td>(2,461.54)</td><td>(2,461.54)<br>(2,656.86)</td><td></td><td>42.04 FX</td></tr></tbody></table>

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DB-SDNY-0002366


EFTA_00015840



EFTA00166592


Deutsche Bank

Disclaimer

As of March 31, 2017

<table border="1"><tr><td>Account Name:</td><td>JEFFREY EPSTEIN</td></tr><tr><td>Account Number:</td><td></td></tr><tr><td>Base Currency:</td><td>USD</td></tr></table>

## Disclosure Notice



IMPORTANT NOTICE: This account is maintained at Deutsche Bank Trust Company Americas ["Deutsche Bank"].


Account Statement Information: This statement is being furnished pursuant to an agreement between the account holder and Deutsche Bank. This statement is for the exclusive use of the account holder pursuant to such agreement and may not be relied upon by third parties. Neither Deutsche Bank, nor its affiliates or subsidiaries, assume responsibility to any person other than the named account holder for information contained in this account statement. Deutsche Bank, and its affiliates and subsidiaries, make no representation, warranty or guarantee, express or implied, in connection with the information provided in this account statement. Please note that this account statement may reflect investments directed solely by the account holder and assets that are not held at Deutsche Bank.

Valuation of assets: The prices and valuations of assets presented in this account statement may be based upon the most current available prices provided by the third party pricing service used for each asset at the time this statement was printed. The prices or values of assets stated herein may not reflect the actual proceeds that would be obtained upon the disposition of any such asset and do not constitute either a bid or offer to unwind any investment or transaction. Prices shown should only be used as a general guide to portfolio value. The prices of certain securities may represent approximations based upon such securities’ relationships to other securities, price quotes from broker-dealers dealing in same or similar securities or certain valuation formulas. Please note: S/E/S/C refers to “Sealed Envelopes Said to Contain”. Information for these assets and for securities and other assets that are illiquid or not publicly traded may have been obtained from the account holder, agents of the account holder, or other sources that may or may not be reliable.

Alternative investments (such as hedge funds or private equity funds) may invest in highly illiquid securities that may be difficult to value. In addition, the valuations presented in this report for alternative investments reflect the valuations that were available at the time of printing this report and may be significantly different from the most current valuation. The method of valuation of alternative investments and the securities in which they invest is determined by the investment manager using data supplied by the underlying fund managers and/or administrators of the alternative investments. Before making any investment decisions with respect to your alternative investments, please consult your Primary Officer to obtain the most current valuation of the alternative investment.

The prices or values of one or more assets may indicate "N/A" "not available." This does not necessarily mean that the assets are worth zero or that the assets are in default. It does mean that Deutsche Bank is currently unable to establish a value for those assets for the purpose of this account statement. If any one or more assets have an indication of "N/A" as its value, then it may affect performance reporting and unrealized gain/loss information. In addition, such assets have not been included in the Market Value Information, Summaries, or the Asset Allocation information at the beginning of this statement.

Debt securities subject to call features or other redemption features may be redeemed in whole or in part before maturity. Such occurrences may affect the yield represented. Please note that yield-to-maturity as represented in this statement reflects the lower of yield-to-maturity or yield-to-call. The actual yield of an asset-backed security may vary according to the rate at which the underlying receivables or other financial assets are prepaid. Information concerning redemption features and the factors that affect yield will be furnished upon written request of the account holder.

The pricing of listed options takes into account the last closing price, as well as the current bid and offer prices.

Please note that although money market funds seek to preserve the value of your investment at S1 per share, it is possible to lose money by investing in them.

Due to the rounding conventions applied, summary subtotals and totals for some data columns and percentages may not equal the sum of the individual amounts displayed.

Assets on this Statement described as "held elsewhere": These assets are not custodied with Deutsche Bank but are "held elsewhere" at the request of the account holder. Information provided on this statement in connection with such assets (including valuation) was not provided or verified by Deutsche Bank.

Exchange Rates: Exchange rates are supplied by a third party provider unrelated to Deutsche Bank and are based on interbank exchange rates at the time of the close of this account statement. Deutsche Bank does not prepare, edit, or endorse third party data. Deutsche Bank is not responsible for inaccurate, incomplete, or missing information with respect to such data.

Investment results may be impacted by foreign currency fluctuations.

Adjusted Cost Basis, Gain/(Loss), and Holding Period Information: The information provided in this account statement with respect to estimated cost basis, realized gain/loss, and holding periods may not reflect all adjustments necessary for tax reporting purposes. In addition, the designation of taxable and tax-exempt Estimated Annual Income does not reflect possible state, local, or foreign taxes that might apply. Customers should verify all information in this account statement against their own records when calculating a reportable gain or loss resulting from a sale, redemption, or exchange of an asset. Deutsche Bank is not responsible for the accuracy of such information taxpayers may be required to report to federal, state, or other U.S. or non-U.S. taxing authorities. Deutsche Bank makes no warranties with respect to, and specifically disclaims any liability arising out of a customer's use of, or any tax position taken in reliance upon, the information contained in this account statement.

Deutsche Bank does not provide tax advice. This statement should not be used for tax reporting purposes.

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DB-SDNY-0002367
EFTA_00015841


| EFTA00166593 |
| :--- | :--- |

This is a simple Markdown document with no headings or paragraphs. It contains just one line of text.

Deutsche Bank

Disclaimer
As of March 31, 2017

<table border="1"><tr><td>Account Name:</td><td>JEFFREY EPSTEIN</td></tr><tr><td>Account Number:</td><td></td></tr><tr><td>Base Currency:</td><td>USD</td></tr></table>

Deutsche Bank, as agent: Unless otherwise specified, Deutsche Bank acted as agent in the transactions described in this account statement. The time(s) of execution of these transactions will be furnished within a reasonable time upon written request of the account holder. Deutsche Bank or its affiliates may profit or receive remuneration from other parties in connection with the transactions described in this account statement. Deutsche Bank will furnish the source and amount of any such remuneration upon written request of the account holder.

## Accounts for which Deutsche Bank is acting as Trustee:

1. **California Trusts: California Probate Code Section 15060, et. seq., requires notification to the account holder of the following:** (i) the recipient of this account may petition the court pursuant to California Probate Code Section 17200 to obtain a court review of this account and of the acts of the trustee reported herein, and (ii) claims against the trustee for breach of trust must be made within 3 years of the date the beneficiary receives an account or a report disclosing facts giving rise to the claim.

2. Florida Trusts: An action for breach of trust based upon matters disclosed in a trust accounting or written report of the trustee may be subject to a 6-month statute of limitations from the receipt of the trust accounting or other report. If you have questions, please consult your attorney.

Common Trust Fund Accounts: If your account is a participant in a Deutsche Bank’s Common Trust Funds, a full copy of the most recent audited annual report is available upon request without charge.

Non-US Account holders: With respect to your assets custodied with Deutsche Bank, income and capital gains or distributions from your account may be taxable in your home jurisdiction. Please consult your tax advisor for the appropriate tax treatment of your transactions.

Confirmation of Tax and Compliance Responsibilities for Individuals: The Account holder confirms that it is his responsibility to fulfill any tax obligations and any other regulatory reporting duties applicable to him in any relevant jurisdictions that may arise in connection with assets, income or transactions in his account(s) and his business relationship with the Bank.

Confirmation of Tax and Compliance Responsibilities for Organizations: The Account holder confirms that it is its responsibility to fulfill any tax obligations and any other regulatory reporting duties applicable to it in any relevant jurisdictions that may arise in connection with assets, income or transactions in its account(s) and its business relationship with the Bank. Furthermore, the Account holder confirms that the necessary information (to the best of its knowledge and capabilities) is made available no less than annually to the relevant beneficial owner(s), settlor(s), beneficiary(ies), partner(s), etc. to enable him/her/them to fulfill any respective tax obligations that may arise for him/her/them in connection with the Account holder’s business relationship with the Bank.

For Investment advisory account holders: If there have been any changes in your financial situation or investment objectives, or if you wish to impose any reasonable restrictions on the management of your investment advisory account or reasonably modify existing restrictions, please contact your Primary Officer.

FDIC: Unless notified to the contrary in a particular case, the securities and financial instruments presented herein are not insured by the Federal Deposit Insurance Corporation ("FDIC"), are not guaranteed by, nor are obligations of, Deutsche Bank AG or any of its affiliates or subsidiaries and are subject to investment risk, including possible loss of the principal amount invested.

Deutsche Bank cannot guarantee the future performance of your account, promise any specific level of performance or promise that Deutsche Bank's investment recommendations or strategies for your account will be successful.

## Time Deposits(TDs) with Deutsche Bank AG:

## Additions or Withdrawals Deposits

No additional deposits or partial withdrawals may be made to this TD. Any partial withdrawal will result in closure of the TD.

## Early Withdrawals

Deutsche Bank imposes a penalty on any withdrawal from a TD prior to its maturity. The amount of the penalty will be calculated on the date of the early withdrawal as follows:

A "Penalty Rate" will be calculated. The "Penalty Rate" is the difference between the internal Deutsche Bank interest rate for the remaining period on the date of termination and the interest rate on your TD. The total principal balance of your TD on the date of termination will be multiplied by the Penalty Rate and then divided by either 360 or 365, as specified by your relationship manager. The resulting number will be multiplied by the number of days remaining until the original Maturity Date to arrive at the amount of the penalty.

An example of an early withdrawal penalty applying the methodology above will be provided to you upon request. In addition, an estimate of the early withdrawal penalty prior to termination with respect to your TD will be provided to you upon request.

Subject to written verification acceptable to Deutsche Bank in its sole discretion, no penalty will be charged for early withdrawal upon the death or loss of legal competency of any individual who is the account holder of the TD.

Early Withdrawal penalties will reduce the amount of interest earned on the TD.

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Disclaimer

As of March 31, 2017

<table border="1"><tr><td>Account Name:</td></tr><tr><td>Account Number:</td></tr><tr><td>Base Currency:</td></tr></table>

## Secondary Market:

Currently, no secondary market exists for this TD and no assurance is provided that one will develop in the future.

## Interest:

Interest will begin to accrue on the day of deposit. Interest will be credited to your account on the Maturity Date of the TD for TDs with a maturity of 12 months or less. For TDs with a maturity greater than 12 months interest will be paid annually and will not be added to principal. Interest will be calculated based upon either (1) a 360 day year or (2) a 365 day year, in each case for the number of days elapsed from the day of deposit to the maturity and as specified by your relationship manager. No interest will accrue on the TD after the Maturity Date. If the TD is closed prior to the Maturity Date, interest will only be credited to your account to the extent that it exceeds the early withdrawal penalty. Interest will not be compounded. The interest rate will not change during the period of the TD.

## Maturity:

The TD will not automatically roll-over upon maturity.

## FDIC insurance:

Please note that your TD is not insured by the FDIC.

Trademarks and Copyright: Moody’s Investor Service, Inc. and Standard & Poor's Corporation. Standard & Poor's ("S&P") is a division of The McGraw-Hill Companies, Inc. Reproduction of any information provided by S&P in any form is prohibited except with S&P's written permission. S&P does not guarantee the accuracy, adequacy, completeness or availability of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. In no event shall S&P be liable for any indirect, special or consequential damages in connection with use of any S&P information.

The ratings of Moody’s Investors Service, Inc. ("Moody's") and/or S&P reflected in this statement represent Moody’s and/or S&P opinions as to the quality of the securities they rate. Ratings are relative and subjective and are not absolute standards of quality. Credit quality of securities does not remove market risk. Additional information with respect to the securities that are reflected as "Not Rated" or "Rating Not Available" in the Credit Rating section of this statement is available upon written request of the account holder.

All trademarks and service marks on this statement belong to Deutsche Bank AG or its affiliates or subsidiaries, except third-party trademarks or service marks, which are the property of their respective owners.

The Global Industry Classification Standard ("GICS") was developed and is the exclusive property and a service mark of Morgan Stanley Capital International Inc. ("MSCI") and S&P. No party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties, or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties herby expressly disclaim all warranties or originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any of such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

Please review your account statement. If you find or suspect any inaccuracies or discrepancies in your account statement, you must write to us to inform us of the suspected inaccuracy or discrepancy within 30 days to Deutsche Bank Trust Company Americas, P.O. Box 318, Church Street Station, MS NYC20-0004, New York, NY 10008-0318 otherwise any claims you have may be barred. Please call your Primary Officer if you have any questions.

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