EFTA Document EFTA01377162

Summary Deutsche Bank today Creditor / Counterparty considerations Deutsche Bank Investor Relations Successful execution of the strategic plan over the next few years will simplify and further de-risk the bank and improve efficiency and the service we provide to our target clients Strength of the balance sheet gives time and flexibility to execute the strategic plan Capital ratios in excess of regulatory minima today and well-positioned to meet all future requirements Cash and high quality liquid assets account for more than 20% of DB's funded balance sheet, negatively impacting returns but providing further support Over 70% of the balance sheet is funded by long-term, diversified sources German bail-in law will provide greater protection for various creditors, such as depositors, derivative counterparties, beneficiaries of guarantees and letters of credit (LoC's), holders of structured notes and money market instruments by subordinating plain vanilla senior unsecured debt As a result, senior unsecured ratings and CDS prices are no longer a good reflection of the credit worthiness of a bank All Rating Agencies have separate counterparty obligation ratings, covering - depending on the Agency - products such as deposits, derivatives and guarantees/LoC's 1 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0073749 CONFIDENTIAL SDNY_GM_00219933 EFTA01377162