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31 May 2015 Integrated Oil US Integrated Oils Where is the growth coming from? While volume growth is coming from a variety of sources, the single largest drivers outside of the US onshore are clearly Brazil and Canada. Brazil, after years of delays and disappointment, is set to contribute -155 Mb/d per year from 2014-2020. And while the combination of lower oil price and political scandal has certainly elevated the risk profile, particularly in the out years, near-term schedules remain largely intact (see Brazil focus section on page 43). Excluding Brazil, crude production from the rest (ex-OPEC, US onshore) is projected to be relatively flat through 2020. Figure 13: ,_014-20 I 7 Cumulative Growth (Mbid) Figure 14 2014.2020 Cumulative Growth (Mbrkt Mexico MI Mexico Non-OPEC Mickile East Non-OPEC Middle East Colombia ■ North Sea North Sea • Colombia Alaska r Alaska Caspian Sea Non-OPEC Africa India Indonesia Europe Non-OECD India Other Non-OECD Asia Other Non-OECD Asia I Angola Europe Non-OECD J ■ Other FSU Other Europe OECD Australia Other FSU Other Non-OPEC Latin America Russia Other Europe OECD Other Non-OPEC Latin America China Other Asia OECD Indonesia China Other Asia OECD Australia Malaysia ■ Malaysia Non-OPEC Africa Angola ■ Russia GoM GoM 10. Caspian Sea Brazil Brazil Canada Canada -400.200 0 200 400 600 800 -500 0 500 1000 Sane Deans Berk Sotto* Dainthe Bert —..j Page 10 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058861 CONFIDENTIAL SDNY_GM_00205045 EFTA01367329