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Deutsche Bank Investor Relations
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Cautionary statements
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Forward-looking statements
This presentation contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions
underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date
they are made, and we undertake no obligation to update publicly any of them in light of new information or future events
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking
statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a
substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk
management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of March 12, 2026
under the heading “Risk Factors.” Copies of this document are readily available upon request or can be downloaded from investor-relations.db.com
Non-IFRS financial measures
This presentation also contains non-IFRS financial measures. For a reconciliation to directly comparable figures reported under IFRS, to the extent such reconciliation is not provided in this presentation, refer to the Q2
2026 Financial Data Supplement, which is accompanying this presentation and available at investor-relations.db.com
EU carve out
Results are prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Acc ounting Standards Board (“IASB”) and endorsed by the European Union (“EU”), including
application of portfolio fair value hedge accounting for non-maturing deposits and fixed rate mortgages with pre-payment options (the “EU carve out”). Fair value hedge accounting under the EU carve out is employed
to minimize the accounting exposure to both positive and negative moves in interest rates in each tenor bucket thereby reduci ng the volatility of reported revenue from Treasury activities. The application of the EU
carve out version of IAS 39 had a negative impact of € 688 million on profit before tax and of € 496 million on profit after tax for the three-month period ended June 30, 2026, compared to a negative impact of
€ 535 million on profit before tax and of € 383 million on profit post tax for the three-month period ended June 30, 2025. The a pplication of the EU carve out version of IAS 39 had a positive impact of € 166 million on
profit before tax and of € 119 million on profit after tax for the six-month period ended June 30, 2026, compared to a negative impact of € 144 million on profit before taxes and of € 103 million on profit post taxes for
the six-month period ended June 30, 2025. The Group’s regulatory capital and ratios thereof are also reported on the basis of the EU carve out version of IAS 39. As of June 30, 2026, the application of the EU carve out
had a cumulative negative impact on the CET1 capital ratio of about 53 basis points compared to a cumulative negative impact of about 75 basis points as of June 30, 2025. In any given period, the net effect of the EU
carve out can be positive or negative, depending on the fair market value changes in the positions being hedged and the hedgi ng instruments
ESG Classification
Sustainable and transition financing and ESG investment activities as defined in Deutsche Bank’s Sustainable Finance Framework, Transition Finance Framework, and ESG Investments Framework, all of which are
published on Deutsche Bank’s website. Given the cumulative definition of the sustainable and transition financing and ESG investment target, in cases where validation against the Frameworks cannot be completed
before the end of the reporting quarter, volumes are disclosed upon completion of the validation in subsequent quarters. For details on ESG product classification of DWS, please refer to the section “Sustainability in
Our Investment Approach and Our Product Suite – Our product suite” in the DWS Annual Report 2025
Q2 2026 Fixed Income Conference Call, July 30, 2026
