EPSTEIN
page 2 / 279 . OCR, unverified
October 17 2017. the preferred shareholders of RIN I have realized an average annual cash on cash yield of 15.81%. Returns
through such date reflect returns during RIN I's warehouse period and are not necessarily representative of RIN II. RIN I is closed to
new investors and no representation is made that investments in RIN II will have the same characteristics or returns similar to RIN I.
Please note that returns are shown net of fees. including the performance fee Past performance is not indicative of future results.
Source: -Failure to Act' by the American Society of Civil Engineers report 2017.
Source: American Legislative Exchange Council. October 2016. Data is based on State Budget Solutions' calculations.
Prior to any Refinancing For summary purposes only. and qualified in its entirety by the definitive Private Placement Memorandum of
the Issuer.
Stbject to certain conditions as described in the Private Placement Memorandum. Please see the Private Placement Memorandum
for further detail.
Indicative based upon current market conditions that may change.
As of September 30. 20t7.
As of December 31. 2017.
The Issuer will continue to use ratings assigned by the Rating Agencies to obligors on individual Collateral Obligations. Such ratings
will primarily be public ratings and private ratings. A credit rating of an asset such as a Collateral Obligation represents the rating
agency's opinion regarding its credit quality and is not a guarantee of quality or performance. A credit rating is not a recommendation
to buy. sell or hold assets and may be subject to revision or withdrawal at any time by the assigning rating agency. In the event that a
rating assigned to any Collateral Obligation is lowered for any reason, no party is obligated to provide any additional support or credit
enhancement with respect to such Collateral Obligation. Rating agencies attempt to evaluate the safety of principal and interest
payments and do not evaluate the risks of fluctuations in market value. Therefore, ratings may not fully reflect the true risks of an
investment in any Collateral Obligation Also, rating agencies may fail to make timely changes in credit ratings in response to
subsequent events, so that an obligor's current financial condition may be better or worse than indicated by a rating. Consequently.
credit ratings of any Collateral Obligation are only a preliminary indicator of investment quality and not a completely reliable
assurance of investment quality. A Rating Agency may change its published ratings criteria or methodologies for loans and loan
interests such as the Collateral Obligations at any time in the future. Furthermore. a Rating Agency may retroactively apply any such
new standards to the ratings of the Collateral Obligations. Any such action codd result in a substantial lowering or a withdrawal of
any rating assigned to a Collateral Obligation.
C 2018 Deutsche Asset Management. All rights reserved. RIN II Ltd. March 2018
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e)
DB-SDNY-0066907
CONFIDENTIAL
SDNY_GM_00213091
EFTA01372971
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CONFIDENTIAL - FOR DISCUSSION PURPOSES ONLY
CONFIDENTIAL - FOR DISCUSSION PURPOSES ONLY
A decision to invest should only be made alter reading the final fund documentation if any and conducting imdepth and
independent due diligence. No guarantee can be given that the fund concept will be realized at all or as presented herein. The
Issuer will be advised by RREEF America LLC.
Important Information
C 2018. All rights reserved. No further distribution is allowed without prior written consent of the Issuer. I-054987_1
Deutsche Asset Management's infrastructure investment business (formerly RREEF Infrastructure) is part of the alternative investments
business of Deutsche Asset Management ("DeAM) part of the Alternatives and Real Assets platform. In the United Slates this relates to
the asset management activities of RREEF America L.L C.. and Deutsche Investment Management Americas Inc , in Germany: RREEF
Investment GmbH. RREEF Management GmbH and RREEF Spezia] Invest GmbH; in Australia: Deutsche Asset Management (Australia)
Limited (ABN 63 116 232 154) an Australian financial services license holder. in Japan: Deutsche Securities Inc. (For DV, financial advisory
(not investment advisory) and distribution services only); in Hong Kong. Deutsche Bark Aktiengesellschaft. Hong Kong Branch. and
Deutsche Asset Management (Hong Kong) Limited; In Singapore- Deutsche Asset Management (Asia) Limited (Company Reg. No.
198701485N); in the United Kingdom: Deutsche Alternative Asset Management (UK) Limited. Deutsche Alternative Asset Management
(Global) Limited and Deutsche Asset Management (UK) Limited. in Italy: RREEF Fondimmobilan SCR S p.A . and in Denmark. Finland,
Norway and Sweden: Deutsche Alternative Asset Management (UK) Limited and Deutsche Alternative Asset Management (Global) Limited;