EFTA01468894.pdf

Subject: Valuation Statement for SOUTHERN FINANCIAL, LLC as at 22 May 2014 - Request 182298 From: Valuations System <valuations.system@db.com> Date: Thu, 22 May 2014 21:39:36 -0400 To: Amanda Kirby Gedeon Pinedo Joseph Cothro Paul Morris < Tazia Smith < >, Vahe Stepanian Dear Sir/Madam, Please find attached the valuation as of the value date specified in the attached statement. For queries please contact the number provided on the statement. Kind regards, Deutsche Bank Group Customer Valuations Group This is an automated email account. Please do not reply to this email as the account is not monitor ed. Valuations are sent to you subject to our Valuation Disclosure statement. We also direct you to the following additional disclosures: In reference to the provision of valuations for daily marks: http://cbs.db.com/new/docs/Daily_Mark_M ethodologies_and_Assumptions_Disclosure_March_28_2013_(2).pdf In reference to the provision of portfolio data and dispute resolution under EMIR: http://cbs.db.com /new/docs/Valuation_Statement_-_EMIR_Language_1309.pdf 182298_20140522_20140523_1 58598155 EFTA01468894