Document:

Amendment Number 2 to OEM Purchase and License Agreement

 Exhibit 10.12 
 Amendment Number 2 
 to 
 OEM Purchase and License Agreement 
 Between EMC Corporation and Brocade Communications, Inc. 
 OEM Agreement
Number OEM 051208 Dated May 20, 2008 
 This Amendment Number 2 (“the Amendment”) to the OEM Purchase and License Agreement
(the “Agreement”) dated May 20, 2008 BROCADE Communications Systems, Inc., a Delaware corporation with an office located at 1745 Technology Drive, San Jose, California 95110, and BROCADE Communications Switzerland SarL., a Geneva
corporation with principal offices at 29 Route de l’Aeroport, Case Postale 105, CH-1215, Geneva 15, Switzerland, and BROCADE Communications Services Switzerland, SarL,, a Geneva corporation with principal offices at 29 Route de l’Aeroport,
Case Postale 105, CH-1215, Geneva 15, Switzerland (collectively, “BROCADE”), and EMC Corporation, 176 South Street, Hopkinton, MA 01748 together with its designated Subsidiaries (“EMC”), and commences on the date accepted
and executed by BROCADE (“Effective Date”). 
 RECITALS 
 WHEREAS, the parties wish to amend the Agreement so as to 1) define Marketing Development Funding; and 2) revise Product Discontinuance requirements;

 NOW THEREFORE, in consideration of the above and the other respective promises of the parties set forth herein, the parties hereto
agree as follows:  
  

	1.0	Add the following terms and conditions to Section 5.4, Marketing Development Funds. 

 Brocade and EMC have agreed to marketing development funding for the period October 1, 2009 through September 30, 2011 and will automatically renew
for additional successive one-year terms unless either party provides [**] days’ notice of termination prior to any renewal periods. The terms and conditions for the program are contained in the “EMC Marketing Development Fund (MDF)
Program Guidelines” effective October 1, 2009 (“MDF Guidelines”). Key terms included in the MDF Guidelines as of October 1, 2009 are: 
  

	 	•	 	 Brocade will provide to EMC MDF funds in the amount of [**]% of EMC’s previous calendar quarter’s net sell-through of Brocade hardware and
software, exclusive of service and maintenance, as calculated by Brocade. Brocade agrees to provide EMC an itemized breakdown of EMC’s net quarterly sell-through no later than (10) business days after the close of EMC’s quarter. Net
revenue is defined as gross sell through revenue less Sales Promotions, Deals desk, Growth Programs, Rebates and current funded headcount. Current funded headcount is defined as the [**] program management resources presently employed at EMC that
support Brocade activity. Brocade will remit payment to EMC thirty (30) days after the close of the previous EMC quarter end. 

  

	 	•	 	 EMC will hold the MDF funds. 

  

	 	•	 	 EMC will provide Brocade a monthly report of all approved MDF expenditures no later than ten business days’ after the end of the previous month.
If MDF expenditures have not been pre-approved by Brocade for such submitted expenses, Brocade reserves the right to withhold crediting EMC for such unapproved expenditures on the next quarterly payment to EMC. 

  

	[**]	Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with
respect to the omitted portions. 

	 	•	 	 MDF funds expire at the end of each [**] month period from issuance. If EMC and Brocade fail to spend the funds [**] months from the time of issuance,
Brocade will withhold crediting EMC for the value of the expired funds on the next quarterly payment to EMC. 

  

	 	•	 	 Partner Agreement Termination. For MDF funds not expended upon termination of this MDF Program, EMC shall have [**] months from the termination
effective date to reconcile activities conducted prior to the termination effective date and to expend all remaining funds. EMC agrees to return such unexpended funds to Brocade, in the form of a check, no later than [**] calendar days after the end
of such [**] month period. Upon termination of our OEM PURCHASE AND LICENSE AGREEMENT, dated May 20, 2008, EMC agrees to return unexpended funds to Brocade within [**] calendar days of the termination effective date.

 If there is conflict between the terms and conditions in this Section 5.4 and the “EMC Marketing Development Fund
(MDF) Program Guidelines effective October 1, 2009” (“MDF Guidelines”) as updated from time to time by mutual agreement of the parties, the MDF Guidelines shall prevail. 
  

	2.0	Delete Section 8.4, Product Discontinuance, in its entirety, and replace with the following language: 

 8.4 Product Discontinuance: Brocade reserves the right to discontinue Products by notifying EMC in writing at least [**] days prior to the
discontinuance date, subject to a mutually agreed upon end of life plan. Prior to such discontinuance date, EMC may place with Brocade [**] purchase order for such discontinued Product including Spares. Such [**] purchase orders may specify
that the requested Products be shipped to EMC or EMC’s Customers over the [**] day period following the discontinuance date. 
 IN WITNESS WHEREOF, the parties hereto have executed this Amendment Number 2 to OEM Purchase and License Agreement by their duly authorized representatives. This Agreement shall not be effective until executed by Brocade and accepted
by an authorized representative of EMC. 
  

									
	 Executed and agreed to:
	 		 	Accepted and agreed to:
	 BROCADE Communication Systems, Inc.
 “BROCADE”
	 		 	EMC Corporation (EMC)
					
	By:	 	 /s/ Charles Leeming
	 		 	By:	 	 /s/ Michael P. Kerovac

	Name:	 	Charles Leeming	 		 	Name:	 	Michael P. Kerovac
	Title:	 	VP, OEM Sales	 		 	Title:	 	Sr. VP GPO
			
	Signed & Effective Date: 1/29/10	 		 	Date: 2/02/10

  

			
	BROCADE Communication Switzerland, SarL
		
	By:	 	 /s/ Ulrich Plechschmidt

	Name:	 	Ulrich Plechschmidt
	Title:	 	Vice President EMEA
	
	Date: 01- February - 2010

  

	[**]	Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with
respect to the omitted portions.Amend. No. 3 to Amend. & Restated Declaration of Trust of Co-Registrant

 Exhibit 4.2.3 
 AMENDMENT NO. 3 
 TO THE 
 AMENDED AND RESTATED 
 DECLARATION OF TRUST AND TRUST AGREEMENT 
 OF 
 DB US DOLLAR INDEX MASTER TRUST 
 This Amendment
No. 3 (“Amendment No. 3”) to the Amended and Restated Declaration of Trust and Trust Agreement dated as of January 31, 2007 (the “Declaration of Trust”) of DB US Dollar Index Master Trust (the
“Master Trust”) by and among DB Commodity Services LLC (the “Managing Owner”), Wilmington Trust Company and PowerShares DB US Dollar Index Trust. 
 WHEREAS, the Managing Owner wishes to amend Exhibit B to the Declaration of Trust, which is the
description of the indexes tracked by the US Dollar Index Bullish Master Fund and the US Dollar Index Bearish Master Fund, and to provide for, among other things, a renaming of the Indexes as the Deutsche Bank Long US Dollar Index (USDX®) Futures Index – Excess ReturnTM and the Deutsche Bank Short US Dollar Index (USDX®) Futures Index – Excess ReturnTM, respectively, and an extension of the roll period; 
 WHEREAS, the Managing Owner wishes to amend the Declaration of Trust pursuant to Section 11.1(b)(iii) thereof to give effect to
the replacement of Exhibit B as provided below, effective as of March 2, 2010. 
 NOW, THEREFORE, in
consideration of the premises and of other good and valuable consideration, the receipt and sufficiency of all of which are hereby acknowledged, the Declaration of Trust is amended as follows: 
  

	 	1.	Exhibit B to the Declaration of Trust shall be amended and replaced in its entirety with Exhibit A attached hereto. 

  

	 	2.	This Amendment No. 3 shall be governed by, and construed in accordance with, the laws of the State of Delaware. 

  

	 	3.	Terms used but not otherwise defined herein shall have the meaning ascribed to such term in the Declaration of Trust, as amended. 

 Remainder of page left blank intentionally. 

 IN WITNESS WHEREOF, this Amendment No. 3 has been executed
for and on behalf of the undersigned as of the 2nd day of
March, 2010. 
  

					
	 DB COMMODITY SERVICES LLC, as
 Managing Owner

		
	By:	 	 /s/ Martin Kremenstein

		 	Name:	 	Martin Kremenstein
		 	Title:	 	Chief Operating Officer
		
	By:	 	 /s/ Michael Gilligan

		 	Name:	 	Michael Gilligan
		 	Title:	 	Principal Financial Officer

 Acknowledged:

 WILMINGTON TRUST COMPANY, not in its 
 individual capacity but solely as Trustee 
 of the Master Trust 
  

					
	By:	 	 /s/ Patrick J. Healy

		 	Name:	 	Patrick J. Healy
		 	Title:	 	Vice President

  

 2 

 Exhibit A 
  

 3 

 Exhibit B 
 DESCRIPTION OF THE 
 DEUTSCHE BANK LONG US DOLLAR
INDEX (USDX®) FUTURES INDEX – EXCESS RETURNTM

 AND 
 DEUTSCHE BANK SHORT US DOLLAR INDEX (USDX®) FUTURES INDEX – EXCESS RETURNTM 
 (the “Description”) 
 (Amended as of March 6, 2010)

 General 
 The Deutsche Bank Long US Dollar Index (USDX®) Futures Index – Excess ReturnTM (the “Long Index”) and the Deutsche Bank Short US Dollar Index (USDX®) Futures Index –
Excess ReturnTM (the “Short Index”) are
designed to reflect the changes in market value over time, whether positive or negative, from investing in long or short positions, respectively, in the first to expire futures contracts1 (the “DX Contracts”) whose changes in market value over time, whether positive or negative, in turn,
are tied to the U.S. Dollar Index (the “USDX®”). This Description may refer to the Long Index and Short Index either each as an Index or collectively as the Indexes. DX Contracts are traded through ICE Futures U.S., under
the symbol “DX.” The fair value of DX Contracts is based on foreign exchange future prices for the underlying Index Currencies (as defined below). The fair value of DX Contracts is calculated in the same way as a spot index. DX Contracts,
similar to single currency futures contracts, will trade at a forward premium or discount based on the interest rate differential between the U.S. dollar and the Index Currencies. 
 The USDX® is a leading benchmark of the spot U.S. dollar and provides a general indication of the international value of the U.S. dollar
by geometrically averaging the exchange rates between the U.S. dollar and the six major world currencies (each, “Index Currency”, collectively, “Index Currencies”) which comprise the USDX® — Euro, Japanese
Yen, British Pound, Canadian Dollar, Swedish Krona and Swiss Franc. 
 The following table reflects the index base weight (the
“Index Base Weight”) of each Index Currency as of March 1973 with respect to the USDX®: 
  

			
	 Index Currency
	  	Index Base Weight
		
	 Euro
	  	0.576
		
	 Japanese Yen
	  	0.136
		
	 British Pound
	  	0.119
		
	 Canadian Dollar
	  	0.091
		
	 Swedish Krona
	  	0.042
		
	 Swiss Franc
	  	0.036
		
	 Closing Level at Inception:
	  	1.000

  

	1	The first to expire futures contracts are futures contracts that expire during the months of March, June, September and December. 

  

 -1- 

 The Euro was included in the USDX® in 1999 and replaced the following currencies that
were originally included in the USDX®: Belgian Franc, Dutch Guilder, German Mark, French Franc and Italian Lira. 
 There
are no regularly scheduled adjustments or rebalancings of the USDX®. The USDX® has only been adjusted once, when the Euro, as noted in the above paragraph, was introduced as the common currency for the European Union (EU) bloc of countries.
Without any other adjustments, the combination of components and their respective weightings in the USDX® have yielded performance results similar to other commonly used US dollar indexes, whether those index methodologies are based on trade
weights or capital flow weights. 
 Each Index reflects the changes in market value over time, whether positive or negative, of
a long or short position in, as applicable, of the first to expire DX Contract relative to the value of the U.S. dollar as of December 31, 1986 (the “Base Date”). 
 The Long Index is calculated to reflect the changes in market value over time, whether positive or negative, of long positions in DX
Contracts. The Short Index is calculated to reflect the changes in market value over time, whether positive or negative, of short positions in DX Contracts. Both the Long Index and the Short Index reflect the changes in market value over time,
whether positive or negative, of the DX Contracts which expire in March, June, September and December. 
 The use of long
positions in DX Contracts in the construction of the Long Index causes the Long Index to rise as a result of any upward price movement in the DX Contracts. In turn, this appreciation in the long DX Contracts reflects the rise of the U.S. dollar
relative to the underlying basket of Index Currencies which comprises the USDX®. 
 The use of short positions in DX
Contracts in the construction of the Short Index causes the Short Index to rise as a result of any downward price movement in the DX Contracts. In turn, this appreciation in the short DX Contracts reflects the fall of the U.S. dollar relative to the
underlying basket of Index Currencies which comprises the USDX®. 
 The sponsor of the Long Index and the Short Index (the
“Index Sponsor”) is Deutsche Bank AG London. The composition of each Index may be adjusted in the Index Sponsor’s discretion. 
 The Index Sponsor calculates the Closing Level (as defined below) of each Index on both an excess return basis and a total return basis. The excess return index reflects the changes in market value over
time, whether positive or negative, of the DX Contracts. The total return is the sum of the changes in market value over time, whether positive or negative, of the DX Contracts plus the return of 3-month U.S. Treasury bills. The Closing Levels of
each Index have been calculated using historic exchange closing price data of the DX Contracts since the Base Date. 
 For the
purposes of this Description: 
 “Closing Level” means, in respect of an Index Business Day (as defined below),
the closing level of each Index for such Index Business Day. 
 Index Calculation and Rules 
 Excess Return Index Calculation 
 The excess return calculation of each Index reflects the weighted return of the change in price of the underlying DX Contracts. The excess return of each Index is calculated as follows: 

 

 

  

 -2- 

 3-Month U.S. Treasury Bill Return Calculation 
 A 3-month U.S. Treasury bill return is used in the calculation of each Index on a total return basis. The return for the 3-month U.S.
Treasury bill investment is calculated on a daily basis using: 

 

 

 Total Return Index Calculation 
 The calculation of each Index on a total return basis represents the return from investing in both DX Contracts and 3-month U.S. Treasury bills and is calculated as follows: 

 

 

 Timing of Rolls 
 The underlying DX Contracts of the Indexes are rolled quarterly over three consecutive business days starting on the first Index Roll Day. 
 This roll takes place over a period of time in order to allow for more efficient execution during the roll period. 
 DX Contracts are rolled on each Index Roll Day as follows: 
  

	 	•	 	 On each Index Roll Day,  1/3 of the DX Contracts that will expire on the next IMM Date is sold and positions in the DX Contracts that expire on the IMM Date following the next IMM Date
are purchased. 

  

	 	•	 	 On each Index Roll Day, new notional holdings are calculated for the old DX Contracts leaving an Index as well as the new DX Contracts entering an
Index. 

  

	 	•	 	 On all days that are not Index Roll Days, the notional holdings of the DX Contracts in an Index remain constant. 

 For the purposes of this Description: 
 “Index Roll Day” is one of the three consecutive business days starting on the Wednesday prior to the applicable IMM Date. 
 “IMM Date” means the third Wednesday of March, June, September and December, a traditional settlement date in the
International Money Market. 
  

 -3- 

 Index Rolling for the Long Index 
 On each Index Roll Day, the position in the old DX Contract is partially sold. The position in the old DX Contract is calculated as follows:

 

 

 The new DX Contracts are purchased to create a long position. The notional value of the new DX Contract is
expressed as: 

 

 

 Index Rolling for the Short Index 
 On each Index Roll Day, the position in the old DX Contract is partially purchased. The position in the old DX Contract is calculated as follows: 

 

 

 The new DX Contracts are sold to create a short position. The notional value of the new DX Contracts is
expressed as: 

 

 

 Initial Index Notional Value 
 On the Base Date, the initial long positions on the DX Contract in the Long Index was expressed as: 

 

 

 On the Base Date, the initial short positions on the DX Contract in the Short Index was expressed as:

 

 

  

 -4- 

 Where: 
  

					
	i	  	=	 	old DX Contract
	j	  	=	 	new DX Contract
	t	  	=	 	Index calculation date
	n	  	=	 	an Index Roll Day which is the nth
 business day during the index roll period (n=1, 2 or 3)
	Fp(t,i)	  	=	 	future price of old i on day t
	Fp(t,j)	  	=	 	future price of new j on day t
	y(t)	  	=	 	T-bill yield on day t
	Rt(t)	  	=	 	T-bill return on t
	ILer(t)	  	=	 	Excess Return Index level on day t
	ILtr(t)	  	=	 	Total Return Index level on day t
	d(t,t-1)	  	=	 	Number of calendar days between day t and Index calculation day t-1 excluding day t
	N(t,i)	  	=	 	Notional holding of i on Index calculation day t
	N(t,j)	  	=	 	Notional holding of j on Index calculation day t

 Index Disruption Event 
 If an Index Disruption Event in relation to (A) any DX Contract or (B) any
underlying Index Currency or an Exchange Instrument on such underlying Index Currency continues for a period of five successive Exchange Business Days, the Index Sponsor will, in its discretion, either with respect to (A), review the price of an
instrument, if available, that is substantially similar to the DX Contract, or with respect to (B), obtain all the Closing Prices for the unaffected Index Currencies, then, with respect to the disrupted Index Currenc(y)(ies) either
(i) calculate the relevant Closing Price by reference to the Closing Price of the Exchange Instrument on such Index Currency on the immediately preceding Valid Date (as provided in the definition of the relevant Closing Price) for a further
period of five successive Exchange Business Days or (ii) select: 
  

	 	(a)	an Exchange Traded Instrument relating to the relevant Index Currency or in the determination of the Index Sponsor a currency substantially similar to the relevant
Index Currency published in U.S. Dollars; or 

  

	 	(b)	if no Exchange Traded Instrument as described in (a) above is available or the Index Sponsor determines that for any reason (including, without limitation, the
liquidity or volatility of such Exchange Traded Instrument at the relevant time) the inclusion of such Exchange Traded Instrument in an Index would not be appropriate, an Exchange Traded Instrument relating to the relevant Index Currency or in the
determination of the Index Sponsor a currency substantially similar to the relevant Index Currency published in a currency other than U.S. Dollars; 

 in each case to replace the Exchange Instrument relating to the relevant Index Currency, all as determined by the Index Sponsor. 
 In the case of (a) above, if an Index Disruption Event in relation to the relevant Exchange Instrument on an Index Currency continues
for the further period of five successive Exchange Business Days referred to therein, on the expiry of such period the provisions of (b) above shall apply. 
 In the case of a replacement of an Exchange Traded Instrument as described in (b) above, the Index Sponsor will make such adjustments to the methodology and calculation of each Index as it determines
to be appropriate to account for the relevant replacement and will publish such adjustments in accordance with the section “Publication of Closing Levels and Adjustments” below. 
  

 -5- 

 For the purposes of this Description: 
 “Valid Date” means, in respect of an Index Currency, a day which is an Exchange Business Day in respect of such Index
Currency and a day on which an Index Disruption Event in respect of such Index Currency or a related Exchange Instrument on such Index Currency does not occur. 
 “Exchange Business Day” means, in respect of a futures contract on an Index Currency, a day that is (or, but for the occurrence of an Index Disruption Event or Force Majeure Event would
have been) a trading day for such Index Currency on the Relevant Exchange. 
 “Closing Price” means, in respect
of an Index Business Day, the closing price on the Relevant Exchange of the relevant Exchange Instrument, as published by the Relevant Exchange for that Index Business Day or, if in the determination of the Index Sponsor such Index Business Day is
not a Valid Date, the closing price on the Relevant Exchange of the relevant Exchange Instrument published by the Relevant Exchange for the immediately preceding Valid Date, subject as provided in the sections “Index Disruption Event” and
“Force Majeure.” 
 “Exchange Instrument” means, in respect of each Index Currency, an instrument for
future delivery of that Index Currency on a specified delivery date traded on the Relevant Exchange. 
 “Exchange Traded
Instrument” means, in respect of an Index Currency, an instrument for future delivery of that Index Currency on a specified delivery date traded on an exchange. 
 “Index Business Day” means a day (other than a Saturday or Sunday) on which commercial banks and foreign exchange markets settle payments and are open for general business (including
dealings in foreign exchange and foreign currency deposits) in New York City. 
 “Index Disruption Event”
means, in respect of an Index Currency or a Exchange Instrument on such underlying Index Currency, an event (other than a Force Majeure Event) that would require the Index Sponsor to calculate the Closing Price in respect of the relevant Exchange
Instrument on such Index Currency on an alternative basis were such event to occur or exist on a day that is an Exchange Business Day (or, if different, the day on which the Closing Price for such Exchange Instrument on such Index Currency for the
relevant Index Business Day would, in the ordinary course, be published or announced by the Relevant Exchange). 
 “Relevant Exchange” is the exchange on which an Index Currency is traded. 
 Force Majeure 
 If a Force Majeure Event occurs on an Index Business Day, the Index Sponsor may in its discretion: 
  

	 	(i)	make such determinations and/or adjustments to the terms of this Description of the Indexes as it considers appropriate to determine any Closing Level on any such Index
Business Day; and/or 

  

	 	(ii)	defer publication of the information relating to the Indexes, until the next Index Business Day on which it determines that no Force Majeure Event exists; and/or

  

	 	(iii)	permanently cancel publication of the information relating to the Indexes. 

 For the purposes of this Description: 
 “Force Majeure Event”
means an event or circumstance (including, without limitation, a systems failure, natural or man-made disaster, act of God, armed conflict, act of terrorism, riot or labor disruption or any similar intervening circumstance) that is beyond the
reasonable control of the Index Sponsor and that the Index Sponsor determines affects the Indexes, the USDX®, DX Contracts, any Index Currency or any Exchange Instrument. 
  

 -6- 

 Change in the Methodology of the Indexes 
 The Index Sponsor will, subject as provided below, employ the methodology described above and its application of such methodology shall be
conclusive and binding. While the Index Sponsor currently intends to employ the above described methodology to calculate each Index, no assurance can be given that fiscal, market, regulatory, juridical or financial circumstances (including, but not
limited to, any changes to or any suspension or termination of or any other events affecting the applicable Index, the USDX®, DX Contracts, any Index Currency or any relevant Exchange Instrument) will not arise that would, in the view of the
Index Sponsor, necessitate a modification of or change to such methodology and in such circumstances the Index Sponsor may make any such modification or change as it determines appropriate. The Index Sponsor may also make modifications to the terms
of an Index in any manner that it may deem necessary or desirable, including (without limitation) to correct any manifest or proven error or to cure, correct or supplement any defective provision contained in this Description of the Indexes. The
Index Sponsor will publish notice of any such modification or change and the effective date thereof in accordance with Publication of Closing Levels and Adjustments below. 
 Publication of Closing Levels and Adjustments 
 In order to calculate the
indicative Index level of each Index, the Index Sponsor will poll Reuters every 15 seconds to determine the real time price of the DX Contract. The Index Sponsor will then apply a set of rules to these values to create the indicative level of the
applicable Index. These rules are consistent with the rules which the Index Sponsor applies at the end of each trading day to calculate the Closing Level of an Index. A similar polling process is applied to the U.S. Treasury bills to determine the
indicative value of the U.S. Treasury bills held by the Funds every 15 seconds throughout the trading day. 
 The Index Sponsor
will publish the Closing Level of an Index daily. Additionally, the Index Sponsor will publish the intra-day Index level once every fifteen seconds throughout each trading day. 
 All of the foregoing information will be published as follows: 
 The intra-day level of the Indexes (symbol: Long Index: USDUPX; Short Index: USDDNX) (quoted in USD) will be published once every fifteen
seconds throughout each trading day on the consolidated tape, Reuters and/or Bloomberg and on the Managing Owner’s website at http://www.dbfunds.db.com, or any successor thereto. 
 The most recent end-of-day Index Closing Level of the Indexes (symbol: Long Index: USDUPX; Short Index: USDDNX) will be published as of the
close of business for the NYSE Arca each trading day on the consolidated tape, Reuters and/or Bloomberg and on the Managing Owner’s website at http://www.dbfunds.db.com, or any successor thereto. 
 The Index Sponsor will publish any adjustments made to the Indexes on the Managing Owner’s website http://www.dbfunds.db.com, or any
successor thereto. 
 All of the foregoing information with respect to the Indexes also will be published at
http://index.db.com. 
 Historical Closing Levels 
 Set out below are the Closing Levels of both the Long Index and the Short Index based on historical data from December 31, 1986 to October 31, 2009. The data with respect to Various Statistical
Measures and Annualized Index Levels are from December 31, 1986 to October 31, 2009. The data with respect to Correlation of Monthly Returns is from December 31, 1988 to October 31, 2009. The start date of December 31, 1988
was selected with respect to Correlation of Monthly Returns because underlying data with respect to DBLCI TR was not available prior to December 31, 1988. 
  

 -7- 

 The following Closing Levels Tables of both the Long Index and the Short Index reflect both
the high and low Closing Levels, the annual Index changes and Index changes since December 31, 1986, the Base Date, of each Index. 
 Since the Base Date of December 31, 1986 with respect to each of the Long Index and the Short Index, close prices of DX Contracts traded on the ICE Futures U.S. were used for each Index calculation.
Although the DX Contract started trading in 1985, the Base Date of December 31, 1986 was selected because reasonably reliable pricing data was not available prior to December 31, 1986. The Index Sponsor has not independently verified the
DX Contracts close prices obtained from Bloomberg and Reuters. 
 The first to expire DX Contracts (i.e., March, June,
September and December) were used in each Index calculation. 
 The underlying DX Contracts of the Indexes are rolled quarterly
over one of the three consecutive business days starting on the Wednesday prior to the applicable IMM Date, or each an Index Roll Day. “IMM Date” means the third Wednesday of March, June, September and December, a traditional settlement
date in the International Money Market. 
 This roll takes place over a period of time in order to allow for more efficient
execution during the roll period. With respect to each DX Contract, each Master Fund employs the below rule-based approach when it rolls from one DX Contract to another. 
 DX Contracts are rolled on each Index Roll Day as follows: 
  

	 	•	 	 On each Index Roll Day,  1/3 of the DX Contracts that will expire on the next IMM Date is sold and positions in the DX Contracts that expire on the IMM Date following the next IMM Date
are purchased. 

  

	 	•	 	 On each Index Roll Day, new notional holdings are calculated for the old DX Contracts leaving an Index as well as the new DX Contracts entering an
Index. 

  

	 	•	 	 On all days that are not Index Roll Days, the notional holdings of the DX Contracts in an Index remain constant. 

 Each Index is calculated on both an excess return basis and a total return basis. The excess return index reflects the changes in market
value over time, whether positive or negative, of the underlying DX Contracts. The total return is the sum of the changes in market value over time, whether positive or negative, of the underlying DX Contracts plus the return of 3-month U.S.
Treasury bills. The following tables reflect both the excess return calculation and the total return calculation of the Long Index and the Short Index. 
  

 -8- 

 Cautionary Statement–Statistical Information 
 Various statistical information is presented on the following pages, relating to the Closing Levels of the Long Index and the Short Index, on
an annual and cumulative basis, including certain comparisons of each Index to other currency indices. In reviewing such information, prospective investors should consider that: 
  

	 	•	 	 Changes in Closing Levels of each Index during any particular period or market cycle may be volatile. 

  

					
	 Index
	  	 Worst Peak-to-Valley Drawdown
 and Time Period
	  	 Worst Monthly Drawdown and
 Month and Year

	 Long Index
	  	 (45.39)%,
 12/86-03/08
	  	 (6.30)%,
 5/09

	 Short Index
	  	 (36.82)%,
 6/95-1/02
	  	 (8.77)%,
 3/91

 For example, the “Worst Peak-to-Valley Drawdown”
of each Index, represents the greatest percentage decline from any month-end Closing Level, without such Closing Level being equaled or exceeded as of a subsequent month-end, which occurred during the above-listed time period. 
 The “Worst Monthly Drawdown” of each Index occurred during the above-listed month and year. 
 See “Volatility of the Various Indexes” on the following page. 
  

	 	•	 	 Neither the fees charged by any Fund nor the execution costs associated with establishing futures positions in the DX Contracts are incorporated into
the Closing Levels of each Index. Accordingly, such Index Levels have not been reduced by the costs associated with an actual investment, such as a Fund, with an investment objective of tracking the corresponding Index. 

 

	 	•	 	 The Indexes were established in August 2006, and are independently calculated by Deutsche Bank AG London, the Index Sponsor. The Index calculation
methodology and DX Contracts selection is the same before and after August 2006, as described above. Accordingly, the Closing Levels of each Index, terms of each Index methodology and DX Contracts, reflect an element of hindsight at the time each
Index was established. See “The Risks You Face—(10) You May Not Rely on Past Performance in Deciding Whether to Buy Shares” and “—(11) Fewer Representative Index Currencies May Result In Greater Index Volatility.”

 WHILE EACH FUND’S OBJECTIVE IS NOT TO GENERATE PROFIT THROUGH ACTIVE PORTFOLIO MANAGEMENT, BUT IS
TO TRACK THE CORRESPONDING INDEX, BECAUSE EACH INDEX WAS ESTABLISHED IN AUGUST 2006, CERTAIN INFORMATION RELATING TO INDEX CLOSING LEVELS MAY BE CONSIDERED TO BE “HYPOTHETICAL.” HYPOTHETICAL INFORMATION MAY HAVE CERTAIN INHERENT
LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. 
 NO REPRESENTATION IS BEING MADE THAT EACH INDEX WILL OR IS LIKELY TO
ACHIEVE ANNUAL OR CUMULATIVE CLOSING LEVELS CONSISTENT WITH OR SIMILAR TO THOSE SET FORTH HEREIN. SIMILARLY, NO REPRESENTATION IS BEING MADE THAT EACH FUND WILL GENERATE PROFITS OR LOSSES SIMILAR TO THE FUND’S PAST PERFORMANCE, WHEN AVAILABLE,
OR THE HISTORICAL ANNUAL OR CUMULATIVE CHANGES IN THE CORRESPONDING INDEX CLOSING LEVELS. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY INVESTMENT METHODOLOGIES, WHETHER
ACTIVE OR PASSIVE. 
  

 -9- 

 ONE OF THE LIMITATIONS OF HYPOTHETICAL INFORMATION IS THAT IT IS GENERALLY PREPARED WITH
THE BENEFIT OF HINDSIGHT. TO THE EXTENT THAT INFORMATION PRESENTED HEREIN RELATES TO THE PERIOD DECEMBER 1986 THROUGH JULY 2006 WITH RESPECT TO EACH INDEX, AS APPLICABLE, EACH INDEX’S CLOSING LEVELS REFLECT THE APPLICATION OF THE INDEX’S
METHODOLOGY, AND SELECTION OF DX CONTRACTS, IN HINDSIGHT. 
 NO HYPOTHETICAL RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT
OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THERE ARE NUMEROUS FACTORS, INCLUDING THOSE DESCRIBED UNDER “THE RISKS YOU FACE” HEREIN, RELATED TO THE CURRENCIES MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF EACH FUND’S EFFORTS TO
TRACK ITS CORRESPONDING INDEX OVER TIME WHICH CANNOT BE, AND HAVE NOT BEEN, ACCOUNTED FOR IN THE PREPARATION OF SUCH INDEX INFORMATION SET FORTH ON THE FOLLOWING PAGES, ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL PERFORMANCE RESULTS FOR EACH FUND.
FURTHERMORE, THE INDEX INFORMATION DOES NOT INVOLVE FINANCIAL RISK OR ACCOUNT FOR THE IMPACT OF FEES AND COSTS ASSOCIATED WITH EACH FUND. 
 THE MANAGING OWNER COMMENCED OPERATIONS IN JANUARY 2006. AS MANAGING OWNER, THE MANAGING OWNER AND ITS TRADING PRINCIPALS HAVE BEEN MANAGING THE DAY-TO-DAY OPERATIONS FOR THE FUNDS AND RELATED PRODUCTS
AND MANAGING FUTURES TRADING ACCOUNTS. BECAUSE THERE ARE LIMITED ACTUAL TRADING RESULTS TO COMPARE TO THE INDEX CLOSING LEVELS SET FORTH HEREIN, PROSPECTIVE INVESTORS SHOULD BE PARTICULARLY WARY OF PLACING UNDUE RELIANCE ON THE ANNUAL OR CUMULATIVE
INDEX RESULTS. 
 [Remainder of page left blank intentionally.] 
  

 -10- 

  
 DATA 
 RELATING TO THE 
 LONG INDEX 
  
  
 DEUTSCHE BANK LONG US DOLLAR INDEX (USDX®) FUTURES INDEX – EXCESS RETURNTM 
 DEUTSCHE BANK LONG US DOLLAR INDEX (USDX®)
FUTURES INDEX – TOTAL RETURNTM 
  
  
 The following data relates to the Long Index closing levels and various statistical measures, each of which either analyzes the Long Index closing levels data in terms of volatility, Sharpe Ratios,
etc. or compares the Long Index closing levels against various relevant benchmarks. The Long Index is calculated on both an excess return and total return basis. 
 THE BULLISH FUND TRADES WITH A VIEW TO TRACKING THE DEUTSCHE BANK LONG US DOLLAR INDEX (USDX®) FUTURES INDEX – EXCESS
RETURNTM OVER TIME. 
 THE BULLISH FUND DOES NOT TRADE WITH A VIEW TO TRACKING THE DEUTSCHE BANK LONG US DOLLAR INDEX (USDX®) FUTURES INDEX –
TOTAL RETURNTM OVER TIME. 
  
  
  

 -11- 

 CLOSING LEVELS TABLE 
 DEUTSCHE BANK LONG US DOLLAR INDEX (USDX®) FUTURES INDEX – EXCESS RETURNTM 
  

											
	 	  	Closing Level	  	 	 	 	 	 
	 	  	High1	  	Low2	  	Annual Index
Changes3	 	 	Index Changes Since
Inception4	 
	 19865
	  	100.00	  	100.00	  	0.00	  	 	0.00	  
	 1987
	  	100.58	  	80.31	  	-19.69	% 	 	-19.69	% 
	 1988
	  	92.74	  	80.91	  	7.06	% 	 	-14.02	% 
	 1989
	  	98.38	  	85.91	  	0.84	% 	 	-13.30	% 
	 1990
	  	87.89	  	73.85	  	-13.34	% 	 	-24.86	% 
	 1991
	  	85.99	  	72.11	  	-3.76	% 	 	-27.69	% 
	 1992
	  	77.65	  	65.06	  	3.67	% 	 	-25.04	% 
	 1993
	  	76.18	  	70.10	  	-0.42	% 	 	-25.35	% 
	 1994
	  	74.47	  	64.27	  	-10.56	% 	 	-33.23	% 
	 1995
	  	67.54	  	60.33	  	-5.30	% 	 	-36.77	% 
	 1996
	  	66.56	  	63.18	  	4.32	% 	 	-34.04	% 
	 1997
	  	76.53	  	66.13	  	14.46	% 	 	-24.50	% 
	 1998
	  	78.10	  	70.33	  	-4.85	% 	 	-28.16	% 
	 1999
	  	80.14	  	71.30	  	9.38	% 	 	-21.42	% 
	 2000
	  	92.51	  	77.39	  	8.85	% 	 	-14.47	% 
	 2001
	  	94.55	  	84.91	  	6.01	% 	 	-9.33	% 
	 2002
	  	93.28	  	77.72	  	-14.28	% 	 	-22.28	% 
	 2003
	  	78.64	  	65.14	  	-16.19	% 	 	-34.86	% 
	 2004
	  	68.46	  	59.41	  	-8.33	% 	 	-40.29	% 
	 2005
	  	68.31	  	60.01	  	13.14	% 	 	-32.44	% 
	 2006
	  	67.50	  	62.03	  	-6.67	% 	 	-36.95	% 
	 2007
	  	64.32	  	57.07	  	-7.26	% 	 	-41.53	% 
	 2008
	  	66.12	  	54.14	  	4.17	% 	 	-39.09	% 
	 20096
	  	66.14	  	54.75	  	-8.48	% 	 	-44.26	% 

 THE BULLISH
FUND TRADES WITH A VIEW TO TRACKING THE 
 DEUTSCHE BANK LONG US DOLLAR INDEX (USDX®) FUTURES INDEX –
EXCESS RETURNTM OVER TIME. 
 NEITHER THE PAST PERFORMANCE OF THE FUND NOR THE PRIOR INDEX LEVELS AND CHANGES, POSITIVE AND NEGATIVE, SHOULD BE TAKEN AS AN INDICATION OF
THE FUND’S FUTURE PERFORMANCE. 
 DEUTSCHE BANK LONG US DOLLAR INDEX (USDX®) FUTURES INDEX –
TOTAL RETURNTM 
  

											
	 	  	Closing Level	  	 	 	 	 	 
	 	  	High1	  	Low2	  	Annual Index
Changes3	 	 	Index Changes Since
Inception4	 
	 19865
	  	100.00	  	100.00	  	0.00	  	 	0.00	  
	 1987
	  	100.66	  	85.33	  	-14.67	% 	 	-14.67	% 
	 1988
	  	102.65	  	86.02	  	14.80	% 	 	-2.04	% 
	 1989
	  	116.74	  	97.97	  	9.54	% 	 	7.30	% 
	 1990
	  	110.08	  	97.96	  	-6.41	% 	 	0.43	% 
	 1991
	  	118.38	  	97.40	  	1.66	% 	 	2.09	% 
	 1992
	  	110.58	  	94.16	  	7.37	% 	 	9.61	% 
	 1993
	  	112.53	  	103.48	  	2.67	% 	 	12.53	% 
	 1994
	  	112.42	  	100.14	  	-6.62	% 	 	5.09	% 
	 1995
	  	106.73	  	96.63	  	0.14	% 	 	5.24	% 
	 1996
	  	116.61	  	105.21	  	9.82	% 	 	15.57	% 
	 1997
	  	139.28	  	115.91	  	20.51	% 	 	39.28	% 
	 1998
	  	148.94	  	134.97	  	-0.11	% 	 	39.13	% 
	 1999
	  	160.01	  	138.16	  	14.67	% 	 	59.54	% 
	 2000
	  	198.12	  	157.20	  	15.48	% 	 	84.23	% 
	 2001
	  	208.23	  	183.08	  	9.78	% 	 	102.26	% 
	 2002
	  	208.39	  	176.25	  	-12.86	% 	 	76.25	% 
	 2003
	  	178.34	  	149.23	  	-15.33	% 	 	49.23	% 
	 2004
	  	157.39	  	138.01	  	-7.05	% 	 	38.71	% 
	 2005
	  	163.02	  	139.43	  	16.79	% 	 	62.00	% 
	 2006
	  	163.23	  	152.48	  	-2.09	% 	 	58.62	% 
	 2007
	  	162.61	  	149.70	  	-3.02	% 	 	53.83	% 
	 2008
	  	176.36	  	143.29	  	5.62	% 	 	62.47	% 
	 20096
	  	176.48	  	146.24	  	-8.35	% 	 	48.90	% 

 THE BULLISH
FUND DOES NOT TRADE WITH A VIEW TO TRACKING THE 
 DEUTSCHE BANK LONG US DOLLAR INDEX (USDX®) FUTURES
INDEX – TOTAL RETURNTM OVER TIME. 
 NEITHER THE PAST PERFORMANCE OF THE FUND NOR THE PRIOR INDEX LEVELS AND CHANGES, POSITIVE AND NEGATIVE, SHOULD BE TAKEN AS AN INDICATION OF
THE FUND’S FUTURE PERFORMANCE. 
 Please refer to notes and legends that follow on page 16. 
  

 -12- 

 All Statistics based on data from December 31, 1986 to October 31, 2009 
  

										
	 Various Statistical Measures
	  	DB Long Future ER7,8	 	 	DB Long Future TR8,9	 	 	Spot Index10	 
	 Annualized Changes to Index Level11
	  	-2.5	% 	 	1.8	% 	 	-1.3	% 
	 Average rolling 3 month volatility12
	  	8.6	% 	 	8.7	% 	 	8.4	% 
	 Sharpe Ratio13
	  	-0.80	  	 	-0.31	  	 	-0.69	  
	 % of months with positive change14
	  	46	% 	 	52	% 	 	46	% 
	 Average monthly positive change15
	  	1.9	% 	 	2.1	% 	 	2.0	% 
	 Average monthly negative change16
	  	-2.0	% 	 	-1.9	% 	 	-1.9	% 
				
	 Annualized Index Levels17
	  	DB Long Future ER7,8	 	 	DB Long Future TR8,9	 	 	Spot Index10	 
	 1 yr
	  	-13.7	% 	 	-13.5	% 	 	-10.9	% 
	 3 yr
	  	-4.5	% 	 	-2.3	% 	 	-3.7	% 
	 5 yr
	  	-2.3	% 	 	0.5	% 	 	-2.1	% 
	 7 yr
	  	-5.3	% 	 	-3.0	% 	 	-4.7	% 
	 10 yr
	  	-3.1	% 	 	-0.3	% 	 	-2.6	% 
	 15 yr
	  	-1.0	% 	 	2.6	% 	 	-0.8	% 

 Correlation of Monthly Returns (between December 31, 1988 to October 31, 2009)* ,22 
  

											
	 	  	DB Long Future
TR7,8	  	S&P 500 TR18	  	JP Morgan US
Treasury19	  	DBLCI TR20	  	NAR Existing One
Family Home Sales
Median Price
Index21
	 DB Long Future TR
	  	1.00	  	-0.07	  	-0.21	  	-0.19	  	-0.05
	 S&P 500 TR
	  	-0.07	  	1.00	  	-0.01	  	0.06	  	0.10
	 JP Morgan US Treasury
	  	-0.21	  	-0.01	  	1.00	  	-0.06	  	-0.08
	 DBLCI TR
	  	-0.19	  	0.06	  	-0.06	  	1.00	  	0.06
	 NAR Existing One Family Home Sales Median Price Index
	  	-0.05	  	0.10	  	-0.08	  	0.06	  	1.00

 NEITHER THE PAST PERFORMANCE OF THE
FUND NOR THE PRIOR INDEX LEVELS AND CHANGES, POSITIVE AND NEGATIVE, SHOULD BE TAKEN AS AN INDICATION OF THE FUND’S FUTURE PERFORMANCE. 
 *
“Correlation” is a statistical term which describes the degree to which two or more asset classes show a tendency to rise or fall in value together. Diversification of an investment portfolio among asset classes that are not correlated
with each other tends to reduce overall volatility and risk in the portfolio as a whole. The hypothetical returns of DB Long Future TR have been compared with the S&P 500 TR, the JP Morgan U.S. Treasury, the DBCLI TR and the NAR Existing One
Family Home Sales Median Price Index to permit an investor to compare and contrast the degree of correlation between DB Long Future TR (which is a currency index) and indices which are commonly used to measure the performance of the equity, fixed
income, commodity and real estate markets, respectively. 
 WHILE THE FUND’S OBJECTIVE IS NOT TO GENERATE PROFIT THROUGH ACTIVE PORTFOLIO
MANAGEMENT, BUT IS TO TRACK THE INDEX, BECAUSE THE INDEX WAS ESTABLISHED IN AUGUST 2006, CERTAIN INFORMATION RELATING TO INDEX CLOSING LEVELS MAY BE CONSIDERED TO BE “HYPOTHETICAL.” HYPOTHETICAL INFORMATION MAY HAVE CERTAIN INHERENT
LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. 
 NO REPRESENTATION IS BEING MADE THAT THE INDEX WILL OR IS LIKELY TO ACHIEVE ANNUAL OR
CUMULATIVE CLOSING LEVELS CONSISTENT WITH OR SIMILAR TO THOSE SET FORTH HEREIN. SIMILARLY, NO REPRESENTATION IS BEING MADE THAT THE FUND WILL GENERATE PROFITS OR LOSSES SIMILAR TO THE FUND’S PAST PERFORMANCE, WHEN AVAILABLE, OR THE HISTORICAL
ANNUAL OR CUMULATIVE CHANGES IN THE INDEX CLOSING LEVELS. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY INVESTMENT METHODOLOGIES, WHETHER ACTIVE OR PASSIVE. 

ONE OF THE LIMITATIONS OF HYPOTHETICAL INFORMATION IS THAT IT IS GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. TO THE EXTENT THAT INFORMATION
PRESENTED HEREIN RELATES TO THE PERIOD DECEMBER 1986 THROUGH JULY 2006, THE INDEX CLOSING LEVELS REFLECT THE APPLICATION OF THE INDEX’S METHODOLOGY, AND SELECTION OF DX CONTRACTS, IN HINDSIGHT. 
 NO HYPOTHETICAL RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THERE ARE NUMEROUS FACTORS, INCLUDING THOSE
DESCRIBED UNDER “THE RISKS YOU FACE” HEREIN, RELATED TO THE CURRENCIES MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF THE FUND’S EFFORTS TO TRACK ITS INDEX OVER TIME WHICH CANNOT BE, AND HAVE NOT BEEN, ACCOUNTED FOR IN THE PREPARATION
OF SUCH INDEX INFORMATION SET FORTH ON THE FOLLOWING PAGES, ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL PERFORMANCE RESULTS FOR THE FUND. FURTHERMORE, THE INDEX INFORMATION DOES NOT INVOLVE FINANCIAL RISK OR ACCOUNT FOR THE IMPACT OF FEES AND COSTS
ASSOCIATED WITH THE FUND. 
 THE MANAGING OWNER COMMENCED OPERATIONS IN JANUARY 2006. AS MANAGING OWNER, THE MANAGING OWNER AND ITS TRADING
PRINCIPALS HAVE BEEN MANAGING THE DAY-TO-DAY OPERATIONS FOR THE FUNDS AND RELATED PRODUCTS AND MANAGING FUTURES TRADING ACCOUNTS. BECAUSE THERE ARE LIMITED ACTUAL TRADING RESULTS TO COMPARE TO THE INDEX CLOSING LEVELS SET FORTH HEREIN, PROSPECTIVE
INVESTORS SHOULD BE PARTICULARLY WARY OF PLACING UNDUE RELIANCE ON THE ANNUAL OR CUMULATIVE INDEX RESULTS. 
 Please refer to
notes and legends that follow on page 16. 
  

 -13- 

 COMPARISON OF VARIOUS US DOLLAR INDICES 
 (DECEMBER 31, 1986 – OCTOBER 31, 2009) 

 

 

 NEITHER THE PAST PERFORMANCE OF THE FUND NOR THE PRIOR INDEX LEVELS AND CHANGES, POSITIVE AND NEGATIVE, SHOULD BE TAKEN AS
AN INDICATION OF THE FUND’S FUTURE PERFORMANCE. 
 Each of the DB Long Future-ER, DB Long Future-TR and Spot Index are indices and do not
reflect actual trading or any fees or expenses. 
 Spot Index is calculated on an excess return basis. 
 WHILE THE FUND’S OBJECTIVE IS NOT TO GENERATE PROFIT THROUGH ACTIVE PORTFOLIO MANAGEMENT, BUT IS TO TRACK THE INDEX, BECAUSE THE INDEX WAS ESTABLISHED
IN AUGUST 2006, CERTAIN INFORMATION RELATING TO INDEX CLOSING LEVELS MAY BE CONSIDERED TO BE “HYPOTHETICAL.” HYPOTHETICAL INFORMATION MAY HAVE CERTAIN INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. 
 NO REPRESENTATION IS BEING MADE THAT THE INDEX WILL OR IS LIKELY TO ACHIEVE ANNUAL OR CUMULATIVE CLOSING LEVELS CONSISTENT WITH OR SIMILAR TO THOSE SET
FORTH HEREIN. SIMILARLY, NO REPRESENTATION IS BEING MADE THAT THE FUND WILL GENERATE PROFITS OR LOSSES SIMILAR TO THE FUND’S PAST PERFORMANCE, WHEN AVAILABLE, OR THE HISTORICAL ANNUAL OR CUMULATIVE CHANGES IN THE INDEX CLOSING LEVELS. IN FACT,
THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY INVESTMENT METHODOLOGIES, WHETHER ACTIVE OR PASSIVE. 
 ONE OF THE LIMITATIONS OF HYPOTHETICAL INFORMATION IS THAT IT IS GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. TO THE EXTENT THAT INFORMATION PRESENTED HEREIN RELATES TO THE PERIOD DECEMBER 1986
THROUGH JULY 2006, THE INDEX CLOSING LEVELS REFLECT THE APPLICATION OF THE INDEX’S METHODOLOGY, AND SELECTION OF DX CONTRACTS, IN HINDSIGHT. 
 NO HYPOTHETICAL RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THERE ARE NUMEROUS FACTORS, INCLUDING THOSE DESCRIBED UNDER “THE RISKS YOU FACE” HEREIN, RELATED TO THE CURRENCIES
MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF THE FUND’S EFFORTS TO TRACK ITS INDEX OVER TIME WHICH CANNOT BE, AND HAVE NOT BEEN, ACCOUNTED FOR IN THE PREPARATION OF SUCH INDEX INFORMATION SET FORTH ON THE FOLLOWING PAGES, ALL OF WHICH CAN
ADVERSELY AFFECT ACTUAL PERFORMANCE RESULTS FOR THE FUND. FURTHERMORE, THE INDEX INFORMATION DOES NOT INVOLVE FINANCIAL RISK OR ACCOUNT FOR THE IMPACT OF FEES AND COSTS ASSOCIATED WITH THE FUND. 
 THE MANAGING OWNER COMMENCED OPERATIONS IN JANUARY 2006. AS MANAGING OWNER, THE MANAGING OWNER AND ITS TRADING PRINCIPALS HAVE BEEN MANAGING THE DAY-TO-DAY
OPERATIONS FOR THE FUNDS AND RELATED PRODUCTS AND MANAGING FUTURES TRADING ACCOUNTS. BECAUSE THERE ARE LIMITED ACTUAL TRADING RESULTS TO COMPARE TO THE INDEX CLOSING LEVELS SET FORTH HEREIN, PROSPECTIVE INVESTORS SHOULD BE PARTICULARLY WARY OF
PLACING UNDUE RELIANCE ON THE ANNUAL OR CUMULATIVE INDEX RESULTS. 
 Please refer to notes and legends that follow on page 16.

  

 -14- 

 COMPARISON OF ANNUAL RETURNS OF VARIOUS US DOLLAR INDICES 
 (DECEMBER 31, 1986 – OCTOBER 31, 2009) 

 

 

 NEITHER THE PAST PERFORMANCE OF THE FUND NOR THE PRIOR INDEX LEVELS AND CHANGES, POSITIVE AND NEGATIVE, SHOULD BE TAKEN AS
AN INDICATION OF THE FUND’S FUTURE PERFORMANCE. 
 Each of the DB Long Future-ER and Spot Index are indices and do not reflect actual
trading or any fees or expenses. 
 Spot Index is calculated on an excess return basis. 
 WHILE THE FUND’S OBJECTIVE IS NOT TO GENERATE PROFIT THROUGH ACTIVE PORTFOLIO MANAGEMENT, BUT IS TO TRACK THE INDEX, BECAUSE THE INDEX WAS ESTABLISHED
IN AUGUST 2006, CERTAIN INFORMATION RELATING TO INDEX CLOSING LEVELS MAY BE CONSIDERED TO BE “HYPOTHETICAL.” HYPOTHETICAL INFORMATION MAY HAVE CERTAIN INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. 
 NO REPRESENTATION IS BEING MADE THAT THE INDEX WILL OR IS LIKELY TO ACHIEVE ANNUAL OR CUMULATIVE CLOSING LEVELS CONSISTENT WITH OR SIMILAR TO THOSE SET
FORTH HEREIN. SIMILARLY, NO REPRESENTATION IS BEING MADE THAT THE FUND WILL GENERATE PROFITS OR LOSSES SIMILAR TO THE FUND’S PAST PERFORMANCE, WHEN AVAILABLE, OR THE HISTORICAL ANNUAL OR CUMULATIVE CHANGES IN THE INDEX CLOSING LEVELS. IN FACT,
THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY INVESTMENT METHODOLOGIES, WHETHER ACTIVE OR PASSIVE. 
 ONE OF THE LIMITATIONS OF HYPOTHETICAL INFORMATION IS THAT IT IS GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. TO THE EXTENT THAT INFORMATION PRESENTED HEREIN RELATES TO THE PERIOD DECEMBER 1986
THROUGH JULY 2006, THE INDEX CLOSING LEVELS REFLECT THE APPLICATION OF THE INDEX’S METHODOLOGY, AND SELECTION OF DX CONTRACTS, IN HINDSIGHT. 
 NO HYPOTHETICAL RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THERE ARE NUMEROUS FACTORS, INCLUDING THOSE DESCRIBED UNDER “THE RISKS YOU FACE” HEREIN, RELATED TO THE CURRENCIES
MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF THE FUND’S EFFORTS TO TRACK ITS INDEX OVER TIME WHICH CANNOT BE, AND HAVE NOT BEEN, ACCOUNTED FOR IN THE PREPARATION OF SUCH INDEX INFORMATION SET FORTH ON THE FOLLOWING PAGES, ALL OF WHICH CAN
ADVERSELY AFFECT ACTUAL PERFORMANCE RESULTS FOR THE FUND. FURTHERMORE, THE INDEX INFORMATION DOES NOT INVOLVE FINANCIAL RISK OR ACCOUNT FOR THE IMPACT OF FEES AND COSTS ASSOCIATED WITH THE FUND. 
 THE MANAGING OWNER COMMENCED OPERATIONS IN JANUARY 2006. AS MANAGING OWNER, THE MANAGING OWNER AND ITS TRADING PRINCIPALS HAVE BEEN MANAGING THE DAY-TO-DAY
OPERATIONS FOR THE FUNDS AND RELATED PRODUCTS AND MANAGING FUTURES TRADING ACCOUNTS. BECAUSE THERE ARE LIMITED ACTUAL TRADING RESULTS TO COMPARE TO THE INDEX CLOSING LEVELS SET FORTH HEREIN, PROSPECTIVE INVESTORS SHOULD BE PARTICULARLY WARY OF
PLACING UNDUE RELIANCE ON THE ANNUAL OR CUMULATIVE INDEX RESULTS. 
 Please refer to notes and legends that follow on page 16.

  

 -15- 

 NOTES AND LEGENDS: 
 1. “High” reflects the highest closing level of the Index during the applicable year. 
 2. “Low” reflects the lowest closing level of the Index during the applicable year. 
 3. “Annual Index Changes” reflect the change to the Index level on an annual basis as of December 31 of each applicable year. 
 4. “Index Changes Since Inception” reflects the change of the Index level since inception on a compounded annual basis as of December 31 of each applicable year. 
 5. Closing levels as of Base Date of December 31, 1986. 
 6. Closing levels as of October 31, 2009. 
 7. “DB Long Future
ER” is the Deutsche Bank Long US Dollar Index (USDX®) Futures Index – Excess ReturnTM with respect to the Long Index. The Deutsche Bank Long US Dollar Index (USDX®) Futures IndexTM is calculated on both an excess return basis and total return basis. The DB Long Future ER calculation
is not funded and reflects the changes in market value over time, whether positive or negative, of the underlying DX Contracts. The sponsor of the Index, or the Index Sponsor, is Deutsche Bank AG London. 
 8. If a Fund’s interest income from its holdings of fixed income securities were to exceed the Fund’s fees and expenses, the total return on an
investment in a Fund is expected to outperform the DB Long Future ER and underperform the DB Long Future TR (as such term is defined in the following footnote). The only difference between the DB Long Future ER and the DB Long Future TR is that the
DB Long Future ER does not include interest income from a hypothetical basket of fixed income securities while the DB Long Future TR does include such a component. The difference in the changes in market value over time, whether positive or
negative, in the DB Long Future ER and the DB Long Future TR is attributable entirely to the hypothetical interest income from this hypothetical basket of fixed income securities. If a Fund’s interest income from its holdings of fixed-income
securities exceeds such Fund’s fees and expenses, then the amount of such excess is expected to be distributed periodically. The market price of the Shares is expected to track closely the DB Long Future ER. The total return on an investment in
a Fund over any period is the sum of the capital appreciation or depreciation of the Shares over the period, plus the amount of any distributions during the period. Consequently, a Fund’s total return is expected to outperform the DB Long
Future ER by the amount of the excess, if any, of its interest income over its fees and expenses but, as a result of such Fund’s fees and expenses, the total return on a Fund is expected to underperform the DB Long Future TR. If a Fund’s
fees and expenses were to exceed such Fund’s interest income from its holdings of fixed income securities, such Fund would underperform the DB Long Future ER. 
 9. “DB Long Future TR” is the Deutsche Bank Long US Dollar Index (USDX®) Futures Index – Total ReturnTM with respect to the Long Index. The Deutsche Bank Long US Dollar Index (USDX®) Futures IndexTM is calculated on
both an excess return basis and total return basis. The DB Long Future TR calculation is funded and reflects the changes in market value over time, whether positive or negative, of both the underlying DX Contracts and the interest income from a
hypothetical basket of fixed income securities. The sponsor of the Index, or the Index Sponsor, is Deutsche Bank AG London. 
 10. “Spot
Index” is the U.S. Dollar Index (USDX®), which provides a general indication of the international value of the USD by averaging the exchange rates between the USD and the six major world currencies the Spot Index Euro, Japanese Yen,
British Pound, Canadian Dollar, Swedish Krona and Swiss Franc. The USDX® mark is a registered service mark owned by ICE Futures U.S., Inc. 
 11. “Annualized Changes to Index Level” reflects the changes of the applicable index on an annual basis as of December 31 of each applicable year. 
 12. “Average rolling 3 month daily volatility.” The daily volatility reflects the relative rate at which the price of the applicable index moves up and down, which is found by calculating the
annualized standard deviation of the daily change in price. In turn, an average of this value is calculated on a 3 month rolling basis. 
  

 -16- 

 13. “Sharpe Ratio” compares the annualized rate of return minus the annualized risk-free rate of
return to the annualized variability — often referred to as the “standard deviation” — of the monthly rates of return. A Sharpe Ratio of 1:1 or higher indicates that, according to the measures used in calculating the ratio, the
rate of return achieved by a particular strategy has equaled or exceeded the risks assumed by such strategy. The risk-free rate of return that was used in these calculations was assumed to be 4.42%. 
 14. “% of months with positive change” during the period from inception to October 31, 2009. 
 15. “Average monthly positive change” during the period from inception to October 31, 2009. 
 16. “Average monthly negative change” during the period from inception to October 31, 2009. 
 17. “Annualized Index Levels” reflects the change in the applicable index on an annual basis as of December 31 of each the applicable time
period (e.g., 1 year, 3, 5, 7, 10 or 15 years). 
 18. “S&P 500 TR” is the Standard & Poor’s index calculated on a
total return basis. Widely regarded as the benchmark gauge of the U.S. equities market, this index includes a representative sample of 500 leading companies in leading industries of the U.S. economy. Although the S&P 500 focuses on the large-cap
segment of the market, with approximately 80% coverage of U.S. equities, it also serves as a proxy for the total market. The total return calculation provides investors with a price-plus-gross cash dividend return. Gross cash dividends are applied
on the ex-date of the dividend. 
 19. “JP Morgan US Treasury” means the JP Morgan US Treasury Index which is a broad total return
index of US Treasury securities. It is published on a daily basis by JP Morgan Indices. 
 20. “DBLCI-TR” is the Deutsche Bank Liquid
Commodity IndexTM Total Return. This Index is intended to reflect the changes in notional value in the following commodities: Light, Sweet Crude Oil, Heating Oil, Aluminum, Gold, Corn and Wheat. The notional amounts of each index commodity included
in this index are broadly in proportion to historical levels of the world’s production and stocks of the index commodities. The sponsor of the Index, or the Index Sponsor, is Deutsche Bank AG London. Deutsche Bank Liquid Commodity IndexTM
– Total Return is a trade mark of Deutsche Bank AG and is the subject of Community Trade Mark Number 3054996. Trade Mark applications in the United States are pending. 
 21. “NAR Existing One Family Home Sales Median Price Index” is one component of The National Association Of Realtors® Existing-Home Sales Series, which is the premier measurement of national
and regional residential real estate market. On or about the 25th of each month, NAR releases statistics on sales and prices of existing single-family homes for the nation and the four regions. These figures include condos and co-ops, in addition to
single-family homes. NAR Existing One Family Home Sales Median Price Index reflects current sales rates, actual totals and median prices by month going back 12 months. Annual totals cover a period of three years, which includes all existing-home
sales — single-family, condos and co-ops—rolled into monthly and annual totals. 
 22. “Correlation of Monthly Returns.”
Every investment asset, by definition, has a correlation coefficient of 1.0 with itself; 1.0 indicates 100% positive correlation. Two investments that always move in the opposite direction from each other have a correlation coefficient of 1.0; 1.0
indicates 100% negative correlation. Two investments that perform entirely independently of each other have a correlation coefficient of 0; 0 indicates 100% non-correlation. December 31, 1988 was used as the start date with respect to the
underlying data because closing levels with respect to DBLCI-TR was not available prior to December 31, 1988. 
 WHILE THE FUND’S
OBJECTIVE IS NOT TO GENERATE PROFIT THROUGH ACTIVE PORTFOLIO MANAGEMENT, BUT IS TO TRACK THE INDEX, BECAUSE THE INDEX WAS ESTABLISHED IN AUGUST 2006, CERTAIN INFORMATION RELATING TO INDEX CLOSING LEVELS MAY BE CONSIDERED TO BE
“HYPOTHETICAL.” HYPOTHETICAL INFORMATION MAY HAVE CERTAIN INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. 
 NO
REPRESENTATION IS BEING MADE THAT THE INDEX WILL OR IS LIKELY TO ACHIEVE ANNUAL OR CUMULATIVE CLOSING LEVELS CONSISTENT WITH OR SIMILAR TO THOSE SET FORTH HEREIN. SIMILARLY, NO REPRESENTATION IS BEING MADE THAT THE FUND WILL

  

 -17- 

 
GENERATE PROFITS OR LOSSES SIMILAR TO THE FUND’S PAST PERFORMANCE, WHEN AVAILABLE, OR THE HISTORICAL ANNUAL OR CUMULATIVE CHANGES IN THE INDEX CLOSING LEVELS. IN FACT, THERE ARE FREQUENTLY
SHARP DIFFERENCES BETWEEN HYPOTHETICAL RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY INVESTMENT METHODOLOGIES, WHETHER ACTIVE OR PASSIVE. 
 ONE OF THE LIMITATIONS OF HYPOTHETICAL INFORMATION IS THAT IT IS GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. TO THE EXTENT THAT INFORMATION PRESENTED HEREIN RELATES TO THE PERIOD DECEMBER 1986 THROUGH JULY 2006, THE INDEX CLOSING
LEVELS REFLECT THE APPLICATION OF THE INDEX’S METHODOLOGY, AND SELECTION OF DX CONTRACTS, IN HINDSIGHT. 
 NO HYPOTHETICAL RECORD CAN
COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THERE ARE NUMEROUS FACTORS, INCLUDING THOSE DESCRIBED UNDER “THE RISKS YOU FACE” HEREIN, RELATED TO THE CURRENCIES MARKETS IN GENERAL OR TO THE
IMPLEMENTATION OF THE FUND’S EFFORTS TO TRACK ITS INDEX OVER TIME WHICH CANNOT BE, AND HAVE NOT BEEN, ACCOUNTED FOR IN THE PREPARATION OF SUCH INDEX INFORMATION SET FORTH ON THE FOLLOWING PAGES, ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL
PERFORMANCE RESULTS FOR THE FUND. FURTHERMORE, THE INDEX INFORMATION DOES NOT INVOLVE FINANCIAL RISK OR ACCOUNT FOR THE IMPACT OF FEES AND COSTS ASSOCIATED WITH THE FUND. 
 THE MANAGING OWNER COMMENCED OPERATIONS IN JANUARY 2006. AS MANAGING OWNER, THE MANAGING OWNER AND ITS TRADING PRINCIPALS HAVE BEEN MANAGING THE DAY-TO-DAY OPERATIONS FOR THE FUNDS AND RELATED PRODUCTS
AND MANAGING FUTURES TRADING ACCOUNTS. BECAUSE THERE ARE LIMITED ACTUAL TRADING RESULTS TO COMPARE TO THE INDEX CLOSING LEVELS SET FORTH HEREIN, PROSPECTIVE INVESTORS SHOULD BE PARTICULARLY WARY OF PLACING UNDUE RELIANCE ON THE ANNUAL OR CUMULATIVE
INDEX RESULTS. 
 ALTHOUGH THE INDEX SPONSOR WILL OBTAIN INFORMATION FOR INCLUSION IN OR FOR USE IN THE CALCULATION OF THE INDEX FROM SOURCE(S)
WHICH THE INDEX SPONSOR CONSIDERS RELIABLE, THE INDEX SPONSOR WILL NOT INDEPENDENTLY VERIFY SUCH INFORMATION AND DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE INDEX OR ANY DATA INCLUDED THEREIN. THE INDEX SPONSOR SHALL NOT BE LIABLE
(WHETHER IN NEGLIGENCE OR OTHERWISE) TO ANY PERSON FOR ANY ERROR IN THE INDEX AND THE INDEX SPONSOR IS UNDER NO OBLIGATION TO ADVISE ANY PERSON OF ANY ERROR THEREIN. 
 UNLESS OTHERWISE SPECIFIED, NO TRANSACTION RELATING TO THE INDEX IS SPONSORED, ENDORSED, SOLD OR PROMOTED BY THE INDEX SPONSOR AND THE INDEX SPONSOR MAKES NO EXPRESS OR IMPLIED REPRESENTATIONS OR
WARRANTIES AS TO (A) THE ADVISABILITY OF PURCHASING OR ASSUMING ANY RISK IN CONNECTION WITH ANY SUCH TRANSACTION (B) THE LEVELS AT WHICH THE INDEX STANDS AT ANY PARTICULAR TIME ON ANY PARTICULAR DATE (C) THE RESULTS TO BE OBTAINED BY
THE ISSUER OF ANY SECURITY OR ANY COUNTERPARTY OR ANY SUCH ISSUER’S SECURITY HOLDERS OR CUSTOMERS OR ANY SUCH COUNTERPARTY’S CUSTOMERS OR COUNTERPARTIES OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDEX OR ANY DATA INCLUDED THEREIN
IN CONNECTION WITH ANY LICENSED RIGHTS OR FOR ANY OTHER USE OR (D) ANY OTHER MATTER. THE INDEX SPONSOR MAKES NO EXPRESS OR IMPLIED REPRESENTATIONS OR WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE INDEX OR
ANY DATA INCLUDED THEREIN. 
 WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE INDEX SPONSOR HAVE ANY LIABILITY (WHETHER IN
NEGLIGENCE OR OTHERWISE) TO ANY PERSON FOR ANY DIRECT, INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL OR ANY OTHER DAMAGES (INCLUDING LOST PROFITS) EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. 
  

 -18- 

  
 DATA 
 RELATING TO THE 
 SHORT INDEX 
  
  
 DEUTSCHE BANK SHORT US DOLLAR INDEX (USDX®) FUTURES INDEX – EXCESS RETURNTM 
 DEUTSCHE BANK SHORT US DOLLAR INDEX
(USDX®) FUTURES INDEX – TOTAL RETURNTM

  
  
 The following data relates to the Short Index closing levels and various statistical measures, each of which either analyzes the Short Index closing
levels data in terms of volatility, Sharpe Ratios, etc. or compares the Short Index closing levels against various relevant benchmarks. The Short Index is calculated on both an excess return and total return basis. 
 THE BEARISH FUND TRADES WITH A VIEW TO TRACKING THE DEUTSCHE BANK SHORT US DOLLAR INDEX (USDX®) FUTURES INDEX – EXCESS
RETURNTM OVER TIME. 
 THE BEARISH FUND DOES NOT TRADE WITH A VIEW TO TRACKING THE DEUTSCHE BANK SHORT US DOLLAR INDEX (USDX®) FUTURES INDEX –
TOTAL RETURNTM OVER TIME. 
  
  
  

 -19- 

 CLOSING LEVELS TABLE 
 DEUTSCHE BANK SHORT US DOLLAR INDEX (USDX®) FUTURES INDEX – EXCESS RETURNTM 
  

											
	 	  	Closing Level	  	 	 	 	 	 
	 	  	High1	  	Low2	  	Annual Index
Changes3	 	 	Index Changes Since
Inception4	 
	 19865
	  	100.00	  	100.00	  	0.00	  	 	0.00	  
	 1987
	  	123.07	  	99.42	  	23.07	% 	 	23.07	% 
	 1988
	  	122.24	  	105.99	  	-7.47	% 	 	13.88	% 
	 1989
	  	113.97	  	98.33	  	-2.79	% 	 	10.70	% 
	 1990
	  	128.74	  	109.22	  	14.37	% 	 	26.61	% 
	 1991
	  	131.41	  	109.44	  	1.96	% 	 	29.10	% 
	 1992
	  	141.41	  	120.25	  	-5.86	% 	 	21.54	% 
	 1993
	  	129.24	  	119.46	  	0.00	% 	 	21.53	% 
	 1994
	  	140.43	  	121.84	  	11.30	% 	 	35.26	% 
	 1995
	  	148.76	  	133.74	  	4.64	% 	 	41.54	% 
	 1996
	  	141.66	  	134.35	  	-4.21	% 	 	35.59	% 
	 1997
	  	135.23	  	115.36	  	-13.47	% 	 	17.32	% 
	 1998
	  	125.36	  	113.35	  	4.85	% 	 	23.01	% 
	 1999
	  	123.92	  	109.83	  	-8.91	% 	 	12.05	% 
	 2000
	  	113.78	  	94.09	  	-9.29	% 	 	1.64	% 
	 2001
	  	102.32	  	91.91	  	-5.82	% 	 	-4.28	% 
	 2002
	  	110.87	  	92.90	  	15.83	% 	 	10.87	% 
	 2003
	  	130.21	  	109.65	  	17.44	% 	 	30.21	% 
	 2004
	  	141.83	  	123.83	  	8.41	% 	 	41.16	% 
	 2005
	  	140.46	  	122.29	  	-12.22	% 	 	23.91	% 
	 2006
	  	134.51	  	124.03	  	6.88	% 	 	32.43	% 
	 2007
	  	145.62	  	129.74	  	7.48	% 	 	42.33	% 
	 2008
	  	153.28	  	123.41	  	-5.54	% 	 	34.45	% 
	 20096
	  	148.15	  	123.96	  	8.31	% 	 	45.61	% 

 THE BEARISH
FUND TRADES WITH A VIEW TO TRACKING THE 
 DEUTSCHE BANK SHORT US DOLLAR INDEX (USDX®) FUTURES INDEX
– EXCESS RETURNTM OVER TIME. 
 NEITHER THE PAST PERFORMANCE OF THE FUND NOR THE PRIOR INDEX LEVELS AND CHANGES, POSITIVE AND NEGATIVE, SHOULD BE TAKEN AS AN INDICATION OF
THE FUND’S FUTURE PERFORMANCE. 
 DEUTSCHE BANK SHORT US DOLLAR INDEX (USDX®) FUTURES INDEX
– TOTAL RETURNTM 
  

											
	 	  	Closing Level	  	 	 	 	 	 
	 	  	High1	  	Low2	  	Annual Index
Changes3	 	 	Index Changes Since
Inception4	 
	 19865
	  	100.00	  	100.00	  	0.00	  	 	0.00	  
	 1987
	  	130.76	  	99.50	  	30.76	% 	 	30.76	% 
	 1988
	  	131.84	  	117.08	  	-0.78	% 	 	29.74	% 
	 1989
	  	137.94	  	116.55	  	5.60	% 	 	37.00	% 
	 1990
	  	170.77	  	135.31	  	23.51	% 	 	69.21	% 
	 1991
	  	182.61	  	150.65	  	7.70	% 	 	82.25	% 
	 1992
	  	204.64	  	170.95	  	-2.50	% 	 	77.69	% 
	 1993
	  	192.01	  	175.28	  	3.10	% 	 	83.19	% 
	 1994
	  	218.80	  	183.73	  	16.20	% 	 	112.86	% 
	 1995
	  	240.62	  	210.69	  	10.66	% 	 	135.54	% 
	 1996
	  	241.78	  	228.68	  	0.85	% 	 	137.55	% 
	 1997
	  	236.99	  	208.43	  	-8.89	% 	 	116.42	% 
	 1998
	  	240.56	  	212.61	  	10.07	% 	 	138.22	% 
	 1999
	  	240.09	  	217.83	  	-4.51	% 	 	127.49	% 
	 2000
	  	231.10	  	200.46	  	-3.77	% 	 	118.92	% 
	 2001
	  	220.85	  	202.43	  	-2.46	% 	 	113.52	% 
	 2002
	  	251.42	  	207.52	  	17.75	% 	 	151.42	% 
	 2003
	  	298.30	  	248.66	  	18.65	% 	 	198.30	% 
	 2004
	  	329.45	  	284.67	  	9.92	% 	 	227.89	% 
	 2005
	  	327.76	  	291.86	  	-9.38	% 	 	197.12	% 
	 2006
	  	337.28	  	299.84	  	12.13	% 	 	233.15	% 
	 2007
	  	381.95	  	327.04	  	12.39	% 	 	274.43	% 
	 2008
	  	406.25	  	329.16	  	-4.22	% 	 	258.61	% 
	 20096
	  	395.71	  	330.77	  	8.45	% 	 	288.93	% 

 THE BEARISH
FUND DOES NOT TRADE WITH A VIEW TO TRACKING THE 
 DEUTSCHE BANK SHORT US DOLLAR INDEX (USDX®) FUTURES
INDEX – TOTAL RETURNTM OVER TIME. 
 NEITHER THE PAST PERFORMANCE OF THE FUND NOR THE PRIOR INDEX LEVELS AND CHANGES, POSITIVE AND NEGATIVE, SHOULD BE TAKEN AS AN INDICATION OF
THE FUND’S FUTURE PERFORMANCE. 
 Please refer to notes and legends that follow on page 24. 
  

 -20- 

 All Statistics based on data from December 31, 1986 to October 31, 2009 
  

										
	 Various Statistical Measures
	  	DB Short Future ER7,8	 	 	DB Short Future TR8,9	 	 	Spot Index10	 
	 Annualized Changes to Index Level11
	  	1.7	% 	 	6.1	% 	 	-1.3	% 
	 Average rolling 3 month volatility12
	  	8.6	% 	 	8.6	% 	 	8.4	% 
	 Sharpe Ratio13
	  	-0.37	  	 	0.15	  	 	-0.74	  
	 % of months with positive change14
	  	55	% 	 	61	% 	 	46	% 
	 Average monthly positive change15
	  	1.9	% 	 	2.1	% 	 	2.0	% 
	 Average monthly negative change16
	  	-2.0	% 	 	-1.9	% 	 	-1.9	% 
				
	 Annualized Index Levels17
	  	DB Short Future ER7,8	 	 	DB Short Future TR8,9	 	 	Spot Index10	 
	 1 yr
	  	14.7	% 	 	14.9	% 	 	-10.9	% 
	 3 yr
	  	3.7	% 	 	6.1	% 	 	-3.7	% 
	 5 yr
	  	1.5	% 	 	4.5	% 	 	-2.1	% 
	 7 yr
	  	4.7	% 	 	7.2	% 	 	-4.7	% 
	 10 yr
	  	2.4	% 	 	5.3	% 	 	-2.6	% 
	 15 yr
	  	0.3	% 	 	3.9	% 	 	-0.8	% 

 Correlation of Monthly Returns (between December 31, 1988 to October 31, 2009)*, 22 
  

											
	 	  	DB Short Future
TR7,8	  	S&P 500 TR18	  	JP Morgan US
Treasury19	  	DBLCI TR20	  	NAR Existing One
Family Home Sales
Median Price
Index21
	 DB Short Future TR
	  	1.00	  	0.09	  	0.23	  	0.21	  	0.04
	 S&P 500 TR
	  	0.09	  	1.00	  	-0.01	  	0.06	  	0.09
	 JP Morgan US Treasury
	  	0.23	  	-0.01	  	1.00	  	-0.06	  	-0.10
	 DBLCI TR
	  	0.21	  	0.06	  	-0.06	  	1.00	  	0.05
	 NAR Existing One Family Home Sales Median Price Index
	  	0.04	  	0.09	  	-0.10	  	0.05	  	1.00

 NEITHER THE PAST PERFORMANCE OF THE
FUND NOR THE PRIOR INDEX LEVELS AND CHANGES, POSITIVE AND NEGATIVE, SHOULD BE TAKEN AS AN INDICATION OF THE FUND’S FUTURE PERFORMANCE. 
 *
“Correlation” is a statistical term which describes the degree to which two or more asset classes show a tendency to rise or fall in value together. Diversification of an investment portfolio among asset classes that are not correlated
with each other tends to reduce overall volatility and risk in the portfolio as a whole. The hypothetical returns of DB Short Future TR have been compared with the S&P 500 TR, the JP Morgan U.S. Treasury, the DBCLI TR and the NAR Existing One
Family Home Sales Median Price Index to permit an investor to compare and contrast the degree of correlation between DB Short Future TR (which is a currency index) and indices which are commonly used to measure the performance of the equity, fixed
income, commodity and real estate markets, respectively. 
 WHILE THE FUND’S OBJECTIVE IS NOT TO GENERATE PROFIT THROUGH ACTIVE PORTFOLIO
MANAGEMENT, BUT IS TO TRACK THE INDEX, BECAUSE THE INDEX WAS ESTABLISHED IN AUGUST 2006, CERTAIN INFORMATION RELATING TO INDEX CLOSING LEVELS MAY BE CONSIDERED TO BE “HYPOTHETICAL.” HYPOTHETICAL INFORMATION MAY HAVE CERTAIN INHERENT
LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. 
 NO REPRESENTATION IS BEING MADE THAT THE INDEX WILL OR IS LIKELY TO ACHIEVE ANNUAL OR
CUMULATIVE CLOSING LEVELS CONSISTENT WITH OR SIMILAR TO THOSE SET FORTH HEREIN. SIMILARLY, NO REPRESENTATION IS BEING MADE THAT THE FUND WILL GENERATE PROFITS OR LOSSES SIMILAR TO THE FUND’S PAST PERFORMANCE, WHEN AVAILABLE, OR THE HISTORICAL
ANNUAL OR CUMULATIVE CHANGES IN THE INDEX CLOSING LEVELS. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY INVESTMENT METHODOLOGIES, WHETHER ACTIVE OR PASSIVE. 

ONE OF THE LIMITATIONS OF HYPOTHETICAL INFORMATION IS THAT IT IS GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. TO THE EXTENT THAT INFORMATION
PRESENTED HEREIN RELATES TO THE PERIOD DECEMBER 1986 THROUGH JULY 2006, THE INDEX CLOSING LEVELS REFLECT THE APPLICATION OF THE INDEX’S METHODOLOGY, AND SELECTION OF DX CONTRACTS, IN HINDSIGHT. 
 NO HYPOTHETICAL RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THERE ARE NUMEROUS FACTORS, INCLUDING THOSE
DESCRIBED UNDER “THE RISKS YOU FACE” HEREIN, RELATED TO THE CURRENCIES MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF THE FUND’S EFFORTS TO TRACK ITS INDEX OVER TIME WHICH CANNOT BE, AND HAVE NOT BEEN, ACCOUNTED FOR IN THE PREPARATION
OF SUCH INDEX INFORMATION SET FORTH ON THE FOLLOWING PAGES, ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL PERFORMANCE RESULTS FOR THE FUND. FURTHERMORE, THE INDEX INFORMATION DOES NOT INVOLVE FINANCIAL RISK OR ACCOUNT FOR THE IMPACT OF FEES AND COSTS
ASSOCIATED WITH THE FUND. 
 THE MANAGING OWNER COMMENCED OPERATIONS IN JANUARY 2006. AS MANAGING OWNER, THE MANAGING OWNER AND ITS TRADING
PRINCIPALS HAVE BEEN MANAGING THE DAY-TO-DAY OPERATIONS FOR THE FUNDS AND RELATED PRODUCTS AND MANAGING FUTURES TRADING ACCOUNTS. BECAUSE THERE ARE LIMITED ACTUAL TRADING RESULTS TO COMPARE TO THE INDEX CLOSING LEVELS SET FORTH HEREIN, PROSPECTIVE
INVESTORS SHOULD BE PARTICULARLY WARY OF PLACING UNDUE RELIANCE ON THE ANNUAL OR CUMULATIVE INDEX RESULTS. 
 Please refer to
notes and legends that follow on page 24. 
  

 -21- 

 COMPARISON OF VARIOUS US DOLLAR INDICES 
 (DECEMBER 31, 1986 – OCTOBER 31, 2009) 

 

 

 NEITHER THE PAST PERFORMANCE OF THE FUND NOR THE PRIOR INDEX LEVELS AND CHANGES, POSITIVE AND NEGATIVE, SHOULD BE TAKEN AS
AN INDICATION OF THE FUND’S FUTURE PERFORMANCE. 
 Each of the DB Short Future-ER, DB Short Future-TR and Spot Index are indices and do not
reflect actual trading or any fees or expenses. 
 Spot Index is calculated on an excess return basis. 
 WHILE THE FUND’S OBJECTIVE IS NOT TO GENERATE PROFIT THROUGH ACTIVE PORTFOLIO MANAGEMENT, BUT IS TO TRACK THE INDEX, BECAUSE THE INDEX WAS ESTABLISHED
IN AUGUST 2006, CERTAIN INFORMATION RELATING TO INDEX CLOSING LEVELS MAY BE CONSIDERED TO BE “HYPOTHETICAL.” HYPOTHETICAL INFORMATION MAY HAVE CERTAIN INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. 
 NO REPRESENTATION IS BEING MADE THAT THE INDEX WILL OR IS LIKELY TO ACHIEVE ANNUAL OR CUMULATIVE CLOSING LEVELS CONSISTENT WITH OR SIMILAR TO THOSE SET
FORTH HEREIN. SIMILARLY, NO REPRESENTATION IS BEING MADE THAT THE FUND WILL GENERATE PROFITS OR LOSSES SIMILAR TO THE FUND’S PAST PERFORMANCE, WHEN AVAILABLE, OR THE HISTORICAL ANNUAL OR CUMULATIVE CHANGES IN THE INDEX CLOSING LEVELS. IN FACT,
THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY INVESTMENT METHODOLOGIES, WHETHER ACTIVE OR PASSIVE. 
 ONE OF THE LIMITATIONS OF HYPOTHETICAL INFORMATION IS THAT IT IS GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. TO THE EXTENT THAT INFORMATION PRESENTED HEREIN RELATES TO THE PERIOD DECEMBER 1986
THROUGH JULY 2006, THE INDEX CLOSING LEVELS REFLECT THE APPLICATION OF THE INDEX’S METHODOLOGY, AND SELECTION OF DX CONTRACTS, IN HINDSIGHT. 
 NO HYPOTHETICAL RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THERE ARE NUMEROUS FACTORS, INCLUDING THOSE DESCRIBED UNDER “THE RISKS YOU FACE” HEREIN, RELATED TO THE CURRENCIES
MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF THE FUND’S EFFORTS TO TRACK ITS INDEX OVER TIME WHICH CANNOT BE, AND HAVE NOT BEEN, ACCOUNTED FOR IN THE PREPARATION OF SUCH INDEX INFORMATION SET FORTH ON THE FOLLOWING PAGES, ALL OF WHICH CAN
ADVERSELY AFFECT ACTUAL PERFORMANCE RESULTS FOR THE FUND. FURTHERMORE, THE INDEX INFORMATION DOES NOT INVOLVE FINANCIAL RISK OR ACCOUNT FOR THE IMPACT OF FEES AND COSTS ASSOCIATED WITH THE FUND. 
 THE MANAGING OWNER COMMENCED OPERATIONS IN JANUARY 2006. AS MANAGING OWNER, THE MANAGING OWNER AND ITS TRADING PRINCIPALS HAVE BEEN MANAGING THE DAY-TO-DAY
OPERATIONS FOR THE FUNDS AND RELATED PRODUCTS AND MANAGING FUTURES TRADING ACCOUNTS. BECAUSE THERE ARE LIMITED ACTUAL TRADING RESULTS TO COMPARE TO THE INDEX CLOSING LEVELS SET FORTH HEREIN, PROSPECTIVE INVESTORS SHOULD BE PARTICULARLY WARY OF
PLACING UNDUE RELIANCE ON THE ANNUAL OR CUMULATIVE INDEX RESULTS. 
 Please refer to notes and legends that follow on page 24.

  

 -22- 

 COMPARISON OF ANNUAL RETURNS OF COMPARISON OF VARIOUS US DOLLAR INDICES

 (DECEMBER 31, 1986 – OCTOBER 31, 2009) 

 

 

 NEITHER THE PAST PERFORMANCE OF THE FUND NOR THE PRIOR INDEX LEVELS AND CHANGES, POSITIVE AND NEGATIVE, SHOULD BE TAKEN AS
AN INDICATION OF THE FUND’S FUTURE PERFORMANCE. 
 Each of the DB Short Future-ER and Spot Index are indices and do not reflect actual
trading or any fees or expenses. 
 Spot Index is calculated on an excess return basis. 
 WHILE THE FUND’S OBJECTIVE IS NOT TO GENERATE PROFIT THROUGH ACTIVE PORTFOLIO MANAGEMENT, BUT IS TO TRACK THE INDEX, BECAUSE THE INDEX WAS ESTABLISHED
IN AUGUST 2006, CERTAIN INFORMATION RELATING TO INDEX CLOSING LEVELS MAY BE CONSIDERED TO BE “HYPOTHETICAL.” HYPOTHETICAL INFORMATION MAY HAVE CERTAIN INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. 
 NO REPRESENTATION IS BEING MADE THAT THE INDEX WILL OR IS LIKELY TO ACHIEVE ANNUAL OR CUMULATIVE CLOSING LEVELS CONSISTENT WITH OR SIMILAR TO THOSE SET
FORTH HEREIN. SIMILARLY, NO REPRESENTATION IS BEING MADE THAT THE FUND WILL GENERATE PROFITS OR LOSSES SIMILAR TO THE FUND’S PAST PERFORMANCE, WHEN AVAILABLE, OR THE HISTORICAL ANNUAL OR CUMULATIVE CHANGES IN THE INDEX CLOSING LEVELS. IN FACT,
THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY INVESTMENT METHODOLOGIES, WHETHER ACTIVE OR PASSIVE. 
 ONE OF THE LIMITATIONS OF HYPOTHETICAL INFORMATION IS THAT IT IS GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. TO THE EXTENT THAT INFORMATION PRESENTED HEREIN RELATES TO THE PERIOD DECEMBER 1986
THROUGH JULY 2006, THE INDEX CLOSING LEVELS REFLECT THE APPLICATION OF THE INDEX’S METHODOLOGY, AND SELECTION OF DX CONTRACTS, IN HINDSIGHT. 
 NO HYPOTHETICAL RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THERE ARE NUMEROUS FACTORS, INCLUDING THOSE DESCRIBED UNDER “THE RISKS YOU FACE” HEREIN, RELATED TO THE CURRENCIES
MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF THE FUND’S EFFORTS TO TRACK ITS INDEX OVER TIME WHICH CANNOT BE, AND HAVE NOT BEEN, ACCOUNTED FOR IN THE PREPARATION OF SUCH INDEX INFORMATION SET FORTH ON THE FOLLOWING PAGES, ALL OF WHICH CAN
ADVERSELY AFFECT ACTUAL PERFORMANCE RESULTS FOR THE FUND. FURTHERMORE, THE INDEX INFORMATION DOES NOT INVOLVE FINANCIAL RISK OR ACCOUNT FOR THE IMPACT OF FEES AND COSTS ASSOCIATED WITH THE FUND. 
 THE MANAGING OWNER COMMENCED OPERATIONS IN JANUARY 2006. AS MANAGING OWNER, THE MANAGING OWNER AND ITS TRADING PRINCIPALS HAVE BEEN MANAGING THE DAY-TO-DAY
OPERATIONS FOR THE FUNDS AND RELATED PRODUCTS AND MANAGING FUTURES TRADING ACCOUNTS. BECAUSE THERE ARE LIMITED ACTUAL TRADING RESULTS TO COMPARE TO THE INDEX CLOSING LEVELS SET FORTH HEREIN, PROSPECTIVE INVESTORS SHOULD BE PARTICULARLY WARY OF
PLACING UNDUE RELIANCE ON THE ANNUAL OR CUMULATIVE INDEX RESULTS. 
 Please refer to notes and legends that follow on page 24.

  

 -23- 

 NOTES AND LEGENDS: 
 1. “High” reflects the highest closing level of the Index during the applicable year. 
 2. “Low” reflects the lowest closing level of the Index during the applicable year. 
 3. “Annual Index Changes” reflect the change to the Index level on an annual basis as of December 31 of each applicable year. 
 4. “Index Changes Since Inception” reflects the change of the Index level since inception on a compounded annual basis as of December 31 of each applicable year. 
 5. Closing levels as of Base Date of December 31, 1986. 
 6. Closing levels as of October 31, 2009. 
 7. “DB Short Future
ER” is the Deutsche Bank Short US Dollar Index (USDX®) Futures Index – Excess ReturnTM with respect to the Short Index. The Deutsche Bank Short US Dollar Index (USDX®) Futures IndexTM is calculated on both an excess return basis and total return basis. The DB Short Future ER
calculation is not funded and reflects the changes in market value over time, whether positive or negative, of the underlying DX Contracts. The sponsor of the Index, or the Index Sponsor, is Deutsche Bank AG London. 
 8. If a Fund’s interest income from its holdings of fixed income securities were to exceed the Fund’s fees and expenses, the total return on an
investment in a Fund is expected to outperform the DB Short Future ER and underperform the DB Short Future TR (as such term is defined in the following footnote). The only difference between the DB Short Future ER and the DB Short Future TR is that
the DB Short Future ER does not include interest income from a hypothetical basket of fixed income securities while the DB Short Future TR does include such a component. The difference in the changes in market value over time, whether positive or
negative, in the DB Short Future ER and the DB Short Future TR is attributable entirely to the hypothetical interest income from this hypothetical basket of fixed income securities. If a Fund’s interest income from its holdings of fixed-income
securities exceeds such Fund’s fees and expenses, then the amount of such excess is expected to be distributed periodically. The market price of the Shares is expected to track closely the DB Short Future ER. The total return on an investment
in a Fund over any period is the sum of the capital appreciation or depreciation of the Shares over the period, plus the amount of any distributions during the period. Consequently, a Fund’s total return is expected to outperform the DB Short
Future ER by the amount of the excess, if any, of its interest income over its fees and expenses but, as a result of such Fund’s fees and expenses, the total return on a Fund is expected to underperform the DB Short Future TR. If a Fund’s
fees and expenses were to exceed such Fund’s interest income from its holdings of fixed income securities, such Fund would underperform the DB Short Future ER. 
 9. “DB Short Future TR” is the Deutsche Bank Short US Dollar Index (USDX®) Futures Index – Total ReturnTM with respect to the Short Index. The Deutsche Bank Short US Dollar Index (USDX®) Futures IndexTM is calculated on
both an excess return basis and total return basis. The DB Short Future TR calculation is funded and reflects the changes in market value over time, whether positive or negative, of both the underlying DX Contracts and the interest income from a
hypothetical basket of fixed income securities. The sponsor of the Index, or the Index Sponsor, is Deutsche Bank AG London. 
 10. “Spot
Index” is the U.S. Dollar Index (USDX®), which provides a general indication of the international value of the USD by averaging the exchange rates between the USD and the six major world currencies the Spot Index Euro, Japanese Yen,
British Pound, Canadian Dollar, Swedish Krona and Swiss Franc. The USDX® mark is a registered service mark owned by ICE Futures U.S., Inc. 
 11. “Annualized Changes to Index Level” reflects the changes of the applicable index on an annual basis as of December 31 of each applicable year. 
 12. “Average rolling 3 month daily volatility.” The daily volatility reflects the relative rate at which the price of the applicable index moves up and down, which is found by calculating the
annualized standard deviation of the daily change in price. In turn, an average of this value is calculated on a 3 month rolling basis. 
  

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 13. “Sharpe Ratio” compares the annualized rate of return minus the annualized risk-free rate of
return to the annualized variability — often referred to as the “standard deviation” — of the monthly rates of return. A Sharpe Ratio of 1:1 or higher indicates that, according to the measures used in calculating the ratio, the
rate of return achieved by a particular strategy has equaled or exceeded the risks assumed by such strategy. The risk-free rate of return that was used in these calculations was assumed to be 4.82%. 
 14. “% of months with positive change” during the period from inception to October 31, 2009. 
 15. “Average monthly positive change” during the period from inception to October 31, 2009. 
 16. “Average monthly negative change” during the period from inception to October 31, 2009. 
 17. “Annualized Index Levels” reflects the change in the applicable index on an annual basis as of December 31 of each the applicable time
period (e.g., 1 year, 3, 5, 7, 10 or 15 years). 
 18. “S&P 500 TR” is the Standard & Poor’s index calculated on a
total return basis. Widely regarded as the benchmark gauge of the U.S. equities market, this index includes a representative sample of 500 leading companies in leading industries of the U.S. economy. Although the S&P 500 focuses on the large-cap
segment of the market, with approximately 80% coverage of U.S. equities, it also serves as a proxy for the total market. The total return calculation provides investors with a price-plus-gross cash dividend return. Gross cash dividends are applied
on the ex-date of the dividend. 
 19. “JP Morgan US Treasury” means the JP Morgan US Treasury Index which is a broad total return
index of US Treasury securities. It is published on a daily basis by JP Morgan Indices. 
 20. “DBLCI-TR” is the Deutsche Bank Liquid
Commodity IndexTM Total Return. This Index is intended to reflect the changes in notional value in the following commodities: Light, Sweet Crude Oil, Heating Oil, Aluminum, Gold, Corn and Wheat. The notional amounts of each index commodity included
in this index are broadly in proportion to historical levels of the world’s production and stocks of the index commodities. The sponsor of the Index, or the Index Sponsor, is Deutsche Bank AG London. Deutsche Bank Liquid Commodity IndexTM
– Total Return is a trade mark of Deutsche Bank AG and is the subject of Community Trade Mark Number 3054996. Trade Mark applications in the United States are pending. 
 21. “NAR Existing One Family Home Sales Median Price Index” is one component of The National Association Of Realtors® Existing-Home Sales Series, which is the premier measurement of national
and regional residential real estate market. On or about the 25th of each month, NAR releases statistics on sales and prices of existing single-family homes for the nation and the four regions. These figures include condos and co-ops, in addition to
single-family homes. NAR Existing One Family Home Sales Median Price Index reflects current sales rates, actual totals and median prices by month going back 12 months. Annual totals cover a period of three years, which includes all existing-home
sales — single-family, condos and co-ops—rolled into monthly and annual totals. 
 22. “Correlation of Monthly Returns.”
Every investment asset, by definition, has a correlation coefficient of 1.0 with itself; 1.0 indicates 100% positive correlation. Two investments that always move in the opposite direction from each other have a correlation coefficient of 1.0; 1.0
indicates 100% negative correlation. Two investments that perform entirely independently of each other have a correlation coefficient of 0; 0 indicates 100% non-correlation. December 31, 1988 was used as the start date with respect to the
underlying data because closing levels with respect to DBLCI-TR was not available prior to December 31, 1988. 
 WHILE THE FUND’S
OBJECTIVE IS NOT TO GENERATE PROFIT THROUGH ACTIVE PORTFOLIO MANAGEMENT, BUT IS TO TRACK THE INDEX, BECAUSE THE INDEX WAS ESTABLISHED IN AUGUST 2006, CERTAIN INFORMATION RELATING TO INDEX CLOSING LEVELS MAY BE CONSIDERED TO BE
“HYPOTHETICAL.” HYPOTHETICAL INFORMATION MAY HAVE CERTAIN INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. 
 NO
REPRESENTATION IS BEING MADE THAT THE INDEX WILL OR IS LIKELY TO ACHIEVE ANNUAL OR CUMULATIVE CLOSING LEVELS CONSISTENT WITH OR SIMILAR TO THOSE SET FORTH HEREIN. SIMILARLY, NO REPRESENTATION IS BEING MADE THAT THE FUND WILL

  

 -25- 

 
GENERATE PROFITS OR LOSSES SIMILAR TO THE FUND’S PAST PERFORMANCE, WHEN AVAILABLE, OR THE HISTORICAL ANNUAL OR CUMULATIVE CHANGES IN THE INDEX CLOSING LEVELS. IN FACT, THERE ARE FREQUENTLY
SHARP DIFFERENCES BETWEEN HYPOTHETICAL RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY INVESTMENT METHODOLOGIES, WHETHER ACTIVE OR PASSIVE. 
 ONE OF THE LIMITATIONS OF HYPOTHETICAL INFORMATION IS THAT IT IS GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. TO THE EXTENT THAT INFORMATION PRESENTED HEREIN RELATES TO THE PERIOD DECEMBER 1986 THROUGH JULY 2006, THE INDEX CLOSING
LEVELS REFLECT THE APPLICATION OF THE INDEX’S METHODOLOGY, AND SELECTION OF DX CONTRACTS, IN HINDSIGHT. 
 NO HYPOTHETICAL RECORD CAN
COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THERE ARE NUMEROUS FACTORS, INCLUDING THOSE DESCRIBED UNDER “THE RISKS YOU FACE” HEREIN, RELATED TO THE CURRENCIES MARKETS IN GENERAL OR TO THE
IMPLEMENTATION OF THE FUND’S EFFORTS TO TRACK ITS INDEX OVER TIME WHICH CANNOT BE, AND HAVE NOT BEEN, ACCOUNTED FOR IN THE PREPARATION OF SUCH INDEX INFORMATION SET FORTH ON THE FOLLOWING PAGES, ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL
PERFORMANCE RESULTS FOR THE FUND. FURTHERMORE, THE INDEX INFORMATION DOES NOT INVOLVE FINANCIAL RISK OR ACCOUNT FOR THE IMPACT OF FEES AND COSTS ASSOCIATED WITH THE FUND. 
 THE MANAGING OWNER COMMENCED OPERATIONS IN JANUARY 2006. AS MANAGING OWNER, THE MANAGING OWNER AND ITS TRADING PRINCIPALS HAVE BEEN MANAGING THE DAY-TO-DAY OPERATIONS FOR THE FUNDS AND RELATED PRODUCTS
AND MANAGING FUTURES TRADING ACCOUNTS. BECAUSE THERE ARE LIMITED ACTUAL TRADING RESULTS TO COMPARE TO THE INDEX CLOSING LEVELS SET FORTH HEREIN, PROSPECTIVE INVESTORS SHOULD BE PARTICULARLY WARY OF PLACING UNDUE RELIANCE ON THE ANNUAL OR CUMULATIVE
INDEX RESULTS. 
 ALTHOUGH THE INDEX SPONSOR WILL OBTAIN INFORMATION FOR INCLUSION IN OR FOR USE IN THE CALCULATION OF THE INDEX FROM SOURCE(S)
WHICH THE INDEX SPONSOR CONSIDERS RELIABLE, THE INDEX SPONSOR WILL NOT INDEPENDENTLY VERIFY SUCH INFORMATION AND DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE INDEX OR ANY DATA INCLUDED THEREIN. THE INDEX SPONSOR SHALL NOT BE LIABLE
(WHETHER IN NEGLIGENCE OR OTHERWISE) TO ANY PERSON FOR ANY ERROR IN THE INDEX AND THE INDEX SPONSOR IS UNDER NO OBLIGATION TO ADVISE ANY PERSON OF ANY ERROR THEREIN. 
 UNLESS OTHERWISE SPECIFIED, NO TRANSACTION RELATING TO THE INDEX IS SPONSORED, ENDORSED, SOLD OR PROMOTED BY THE INDEX SPONSOR AND THE INDEX SPONSOR MAKES NO EXPRESS OR IMPLIED REPRESENTATIONS OR
WARRANTIES AS TO (A) THE ADVISABILITY OF PURCHASING OR ASSUMING ANY RISK IN CONNECTION WITH ANY SUCH TRANSACTION (B) THE LEVELS AT WHICH THE INDEX STANDS AT ANY PARTICULAR TIME ON ANY PARTICULAR DATE (C) THE RESULTS TO BE OBTAINED BY
THE ISSUER OF ANY SECURITY OR ANY COUNTERPARTY OR ANY SUCH ISSUER’S SECURITY HOLDERS OR CUSTOMERS OR ANY SUCH COUNTERPARTY’S CUSTOMERS OR COUNTERPARTIES OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDEX OR ANY DATA INCLUDED THEREIN
IN CONNECTION WITH ANY LICENSED RIGHTS OR FOR ANY OTHER USE OR (D) ANY OTHER MATTER. THE INDEX SPONSOR MAKES NO EXPRESS OR IMPLIED REPRESENTATIONS OR WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE INDEX OR
ANY DATA INCLUDED THEREIN. 
 WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE INDEX SPONSOR HAVE ANY LIABILITY (WHETHER IN
NEGLIGENCE OR OTHERWISE) TO ANY PERSON FOR ANY DIRECT, INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL OR ANY OTHER DAMAGES (INCLUDING LOST PROFITS) EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. 
  

 -26-

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