This leaflet is a small part of a newspaper-size list (alphabetical order city A to Z!) of German streets that were hit by the allied bombs.
As we said, black propaganda is always trying to mislead the target in pretending the leaflets to come from a source in the targets own country. In this case you see a red circle on the leaflet. The allies did everything to make the Germans believe that there was a resistance group in Germany that was calling itself 'Red-Circle' and that this group spread this kind of leaflets.
This was also supported by the well known radiotransmissions from England that tried to let the Germans believe that they came from a secret German resistance transmitter. One of these transmitters was called "Atlantiksender" and was actually run by Sefton Delmer and his staff from stations in England!!!
The transmittions first told the German soldiers about an OKW-Befehl 967/42g that said that soldiers had a right to visit their homes if hit by bombs. It than transmitted accurate lists of streets that were hit. The lists were so accurate that the German government really believed that there were allied spies in every German city. In fact, even after the war, this was a common believe. There even was a German movie called 'Soldatensender Calais' in which the actual agents were showed while transmitting to England from Essen during a bomb raid.
The thruth was completly different of course! Delmers staff debriefed lots of bombercrews when
they returned to England from their missions. They also used the photographs taken during the
raids and compared them to pre-war Baedekers in the English library!
These leaflets were an extra support for the transmissions.