Issued by Ironbark Asset Management Pty Limited ABN 53 136 679 420 AFSL 341020 (“Ironbark”). This video is intended to provide a general outline of Deutsche Asset Management product capabilities in a specific asset class. It is not an offer of securities or financial products, nor is it financial product advice. As this has been prepared without taking account of any investors' particular objectives, financial situation and needs, you should consider its appropriateness having regard to your objectives, financial situation and needs. Any fund referred to is issued by Deutsche Asset Management (Australia) Limited. To acquire units in the fund, complete the application form that accompanies the current product disclosure statement for the fund, which you can obtain from www.ironbarkam.com or by calling Client Services on 1800 034 402. You should consider the product disclosure statement in deciding to acquire or to continue to hold the fund.

Although non-Deutsche specific information has been prepared from sources believed to be reliable, we offer no guarantees as to its accuracy or completeness. Opinions and estimates involve a number of assumptions which may not prove valid and may be changed without notice. Past performance is not an indicator of future results. Any performance forecasts are not promises of future performance and are not guaranteed. Opinions expressed may change and are correct as at the time of filming as shown in the video details. This commentary describes some current internal investment guidelines and processes. These are constantly under review, and may change over time. Consequently, although this commentary is provided in good faith, it is not intended to create any legal liability on the part of Ironbark, and does not vary the terms of a relevant product disclosure statement. All dollars are Australian dollars unless otherwise specified and all indices are copyrighted by and proprietary to the issuer of the index.

Issued by Ironbark Asset Management Pty Limited ABN 53 136 679 420 AFSL 341020 (“Ironbark”). This video is intended to provide a general outline of Deutsche Asset Management product capabilities in a specific asset class. It is not an offer of securities or financial products, nor is it financial product advice. As this has been prepared without taking account of any investors' particular objectives, financial situation and needs, you should consider its appropriateness having regard to your objectives, financial situation and needs. Any fund referred to is issued by Deutsche Asset Management (Australia) Limited. To acquire units in the fund, complete the application form that accompanies the current product disclosure statement for the fund, which you can obtain from www.ironbarkam.com or by calling Client Services on 1800 034 402. You should consider the product disclosure statement in deciding to acquire or to continue to hold the fund.

Although specific information has been prepared from sources believed to be reliable, we offer no guarantees as to its accuracy or completeness. Opinions and estimates involve a number of assumptions which may not prove valid and may be changed without notice. Past performance is not an indicator of future results. Any performance forecasts are not promises of future performance and are not guaranteed. Opinions expressed may change and are correct as at the time of filming as shown in the video details. This commentary describes some current internal investment guidelines and processes. These are constantly under review, and may change over time. Consequently, although this commentary is provided in good faith, it is not intended to create any legal liability on the part of Ironbark, and does not vary the terms of a relevant product disclosure statement. All dollars are Australian dollars unless otherwise specified and all indices are copyrighted by and proprietary to the issuer of the index.