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CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e)
DB-SDNY-0066903
CONFIDENTIAL
SDNY_GM_00213087
EFTA01372969
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CONFIDENTIAL - FOR DISCUSSION PURPOSES ONLY
Transaction Overview
Ramp-Up of the Portfolio
• The Portfolio Advisor seeks to accumulate a portfolio of up to
approximately $500 million (the 'Portfolio')
• The Portfolio is expected to be funded by Equity and a
warehouse facility (the "Initial Facility') with an advance rate of
up to 30%"
• Initial Facility is expected to be held by Barclays (Facility Agent)
and Deutsche Bank
— Barclays is expected to hold 95% of the Initial Facility, and
Deutsche Bank is expected to hold 5% of the Initial Facility
• Pricing on the Initial facility is expected to be L+120bps
• Deutsche Bank expected to retain 5% of the Initial Facility (awl
the subsequent Rated Notes) and the Equity throughout the life
of the transaction
Intended refinancing of the Portfolio
• Once the Portfolio is approximately 75%4036 ramped, the
Portfolio Advisor intends to refinance the Initial Facility with at
least $425 million of Rated Notes
Indicative Issuer Timeline
Intended refinancing
Ramp.Up Period
Reinvestment Period
4.5 Years
Illustrative Term Capital Structure12
End of Reinvestment Period
Portfolio / Collateral Pool:
30- 40 loans
- 20 sub-sectors
Interest, Deal Fees, d Principal
Rated Notes Trenches
(Likely 85%+ of Capital Structure)
Equity (oweled)
mar of 15 % of Capital Structure
Amortization Period
Up to 7 Years
Deutsche Asset Management Overview
Portfolio Advisor Team
• t;etitscht:
ti..n.tigetnent L,ttrAti. t roc cl trte
leading independent asset managers. with $840 billion
under management across all asset classes"
• Deutsche AM's global infrastructure platform the 'Platform")
has -323 billion in assets under management with more
than $1.7 billion dedicated to mItastructure debt"
• Platform currently employs 38 professionals globally with 7
dedicated infrastructure debt professionals"
• The team has been investing since November 2014 and has
deployed capital into 53 investments"
© 2018 Deutsche Asset Management All rights reserved. RIN II Ltd. March 2019
See "Eadnotes' and 'Important Information- for additional important notes.
Jorge
Rodriguez
Pod If folio
Manager
Jonathan
Newman
Pontlolto
Mdonger
Cameron
Berns
A+s Vent
Vice President
Manager Performance
Fee
Final RIN Maturity
Matt
Woods
Cs met ion
Joshua
Kim
Associate
7.431 years of reinvent ornenrincri
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e)
CONFIDENTIAL
SDNY_GM_00213089
DB-SDNY-0066905
EFTA01372970
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CONFIDENTIAL - FOR DISCUSSION PURPOSES ONLY
End Notts
RIN II Ltd. is a Cayman Islands exempted company.
Source: -Infrastructure Default and Recovery Rates 1983-2016", Moody's. July 2017. Past performance is not a guarantee of future
results.
Source: 'Moody's Approach to Rating Collateralized Debt Obligations Backed by Project Finance and Infrastructure Assets." August
1Z 2015.
The target return of the Preferred Shares is net of the Issuer's Advisory Fees. expenses. performance fees. portfolio company taxes.
taxes payable by the Issuer and related withholding taxes from portfolio investments. There can be no assurance that the
assumptions underlying the target returns of the Preferred Shares will prove to be accurate There can be no assurance that any
favorable return of the Preferred Shares will be met or that significant losses on the Preferred Shares will be avoided. The projections
contained herein are subject to a number of assumptions and uncertainties and may or may not be realized. including that a CLO
refinancing is completed on favorable terms. Please refer to 'Important Information' below
Platform's performance includes the performance of the European Private Infrastructure Business. Listed Infrastructure Securities
Business, Infrastructure Debt Business. and Australian Separate Account Business.
As of December 31, 2017. Based on Team members' professional activities, including experience at prior employers. Transaction
numbers are based on the collective team's experience. this includes acting in varying capacities such as a lead arranger and or a
financial counterpany.
The Portfolio Advisor currently advises RIN I. a special purpose issuing entity formed in November 2014 that has an investment
strategy substantially similar to that intended for the Issuer. There is otherwise no direct relationship between the Issuer and RIN I.
Although that can be no assurance that the investment performance of the Issuer and the Preferred Shares will be similar, as of