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Deutsche Bank PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Q2 2026 results Investor Relations July 29, 2026
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Disciplined strategy execution delivers record H1 results Notes: throughout this presentation totals may not sum due to rounding differences and percentages may not precisely reflect the absolute figures; for footnotes refer to slides 33 and 34 2Q2 2026 results, July 29, 2026 On track for 2026 objectives, with upside to 2028 targets Executing on the strategy, advancing 2026 investment plan and SVA actions Strong revenue momentum delivering a record H1 profit of € 4.1bn € 500m buyback approved from current year net income 11.9% Return on tangible equity1 FY 2028 target: >13% € 17.2bn Revenues FY 2025-28 CAGR ambition: >5% 60.9% Cost/income ratio FY 2028 target: <60% 13.9% CET1 ratio Operating range: 13.5-14.0%
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Continued progress on Scaling the Global Hausbank Franchise performance indicators >13% RoTE 2028 Strict capital discipline Scalable operating model Focused growth Financial resilience Key achievements across strategic levers Notes: SVA – shareholder value add; for footnotes refer to slides 33 and 34 3Q2 2026 results, July 29, 2026 ▪ 5% YoY revenue growth in H1 driven by all businesses, with strong contribution from Investment Bank and focused growth areas, including asset gathering in Private Bank and Asset Management ▪ Execution of further SVA measures in Q2, including agreement to sell Private Bank’s India franchise, as well as capital-accretive measures across the businesses ▪ Driving efficiency through further branch closures and operating model simplification in Private Bank, and targeted investments in technology and front-to-back capabilities across the Group € 1,922bn Assets under management (AuM)1 +16.1% YoY; +7.5% QoQ € 56bn AuM net flows1 +38.2% YoY Q2 2026 period end H1 2026 cumulative € 491bn Loans +3.9% YoY; +1.0% QoQ € 698bn Deposits +6.9% YoY; +1.7% QoQ Q2 2026 period end Q2 2026 period end
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey All divisions delivered a RoTE of 12% or higher ▪ Private Bank clientassets up € 56bn3 year-to-date including € 20bn of cumulativenet AuM flowsreflecting continued business momentum ▪ Asset Management generated record € 25bn of quarterly net flows, reflecting continued strong net flows across Cash and Passive ▪ Accelerating business momentum in Corporate Bank, with 9% growth in deposits and 7% in loans year on year ▪ FIC client activity 4 up 5%, driving record Q2 FIC revenues, and IBCM market share in EMEA rising to 4.1%, up 40bps against the prior-year quarter5 Key achievements in Q2Performance indicators in H1 Notes: RoTE – return on tangible equity, CIR – cost/income ratio, FIC – Fixed Income & Currencies, IBCM – Investment Banking & Capital Markets; for footnotes refer to slides 33 and 34 Private Bank Asset Management Corporate Bank Investment Bank 4Q2 2026 results, July 29, 2026 CIRRoTE1 68.0% (2.2)ppt YoY 12.0% +2.5ppt YoY 58.7% (3.5)ppt YoY 44.4% +20.2ppt2 YoY 62.4% +1.4ppt YoY 15.6% (0.3)ppt YoY 51.0% (2.8)ppt YoY 14.5% +1.2ppt YoY
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Progress with strategy execution complemented by more constructive backdrop 5Q2 2026 results, July 29, 2026 Upside trends Structural reforms following German fiscal stimulus Timing of impact: 2027+ ▪ Fiscal deployment gaining momentum across infrastructure and defense, with DB well positioned to benefit ▪ Reform agenda, including health, pension and 34-point plan, strengthening growth and competitiveness; DB is a trusted partner helping clients to navigate the reforms Further & faster evolution of AI and related productivity gains 2027+ ▪ Accelerating AI adoption creates opportunities for efficiency improvements as well as revenue growth via enhanced client coverage and related wallet share gains ▪ Clear potential for incremental productivity gains, including organization simplification accompanied by AI adoption Savings and Investments Union 2027+ ▪ Momentum building to transform European savings into investments, e.g. German pension reform, creating incremental opportunities for DB’s asset gathering businesses ▪ Strong political commitment to advancing EU capital markets integration, incl. development of securitization framework Regulatory environment conducive to growth 2027+ ▪ EU policy points to increasing European banking competitiveness and simplification driving growth ▪ European Commission proposal addressing market concerns of unintended outcomes of CRR 3, including output floors, buffer usability, and capital and liquidity mobility across EU banks Key developments
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Group financials 6Q2 2026 results, July 29, 2026
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Q2 2026 highlights In € bn, unless stated otherwise Notes: TBV – tangible book value; for footnotes refer to slides 33 and 34 Financial highlights Profit before tax by segment3 0.6 0.2 0.7 0.8 Q2 2025 0.6 0.2 0.7 1.3 Q2 2026 Private Bank Asset Management Corporate Bank Investment Bank 2.4 2.7 +11% 7Q2 2026 results, July 29, 2026 Statement of income Q2 2026 Δ YoY Δ QoQ Net revenues 8.5 9% (2)% Provision for credit losses 0.5 9% (11)% Noninterest expenses 5.3 8% 4% Profit (loss) before tax 2.7 11% (12)% Profit (loss) 1.9 10% (12)% Balance sheet and resources Average interest earning assets 1,092 6% 1% Loans1 491 4% 1% Deposits 698 7% 2% Risk-weighted assets 367 8% 2% Performance measures and ratios RoTE, in % 11.0 0.9ppt (1.7)ppt Cost/income ratio, in % 63.0 (0.6)ppt 4.0ppt Provision for credit losses, in bps of avg. loans2 38 2bps (6)bps CET1 ratio, in % 13.9 (32)bps 11bps Per share information Diluted earnings per share € 0.57 19% (46)% TBV per basic share outstanding € 31.20 6% (1)%
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Revenue performance In € bn, unless stated otherwise Revenues by segment 2.4 0.7 1.9 2.7 0.1 Q2 2025 2.6 0.8 1.9 3.2 0.1 Q2 2026 7.8 8.5 +9% Private Bank Asset Management Corporate Bank Investment Bank C&O 0.7 0.7 0.7 0.6 Q2 2025 0.8 0.7 0.7 0.7 Q2 2026 2.7 2.9 +7% Private Bank Asset Management Corporate Bank Investment Bank Net commission and fee income1Revenues by type 3.8 2.7 1.3 Q2 2025 4.5 2.9 1.1 Q2 2026 7.8 8.5 +9% Net interest income Net commission and fee income Trading and other 8 Notes: C&O – Corporate & Other; for footnotes refer to slides 33 and 34 Q2 2026 results, July 29, 2026
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Net interest income (NII) and net interest margin (NIM) In € bn, unless stated otherwise 9Q2 2026 results, July 29, 2026 Notes: for footnotes refer to slides 33 and 34 Key banking book1 1.7 1.7 Q2 2025 1.7 1.7 Q3 1.9 1.7 Q4 1.8 1.8 Q1 1.8 1.8 Q2 2026 3.4 3.4 3.5 3.6 3.6 Deposits Loans Group Segments 2.8% 2.8% 2.9% 2.9% 2.9% Key banking book NIM 3.4 0.5 Q2 2025 3.3 0.6 Q3 3.4 0.8 Q4 3.5 0.7 Q1 3.6 1.0 Q2 2026 3.8 3.9 4.3 4.2 4.5 Key banking book1 and other funding2 Accounting asymmetry driven3 1.5% 1.5% 1.6% 1.6% 1.7% Group NIM Corporate Bank Investment Bank (FIC Financing) Private Bank 0.8 Q2 2025 0.7 Q3 0.8 Q4 0.8 Q1 0.8 Q2 2026 1.2 1.1 1.1 1.1 1.2 1.5 1.6 1.6 1.6 1.7 2.4% 2.5% 2.6% 2.6% 2.7% 3.6% 3.4% 3.4% 3.4% 3.3% 2.9% 2.7% 2.9% 2.8% 2.8% Divisional NIM
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Noninterest expenses In € bn, unless stated otherwise, year-on-year development 10Q2 2026 results, July 29, 2026 ▪ Incremental investments in technology enhancements, Private Bank operating model optimization, Wealth Management and IBCM hiring, and expansion of Corporate Bank solutions ▪ Operating efficiencies from workforce measures and target operating model improvements ▪ Volume-related growth & inflation primarily include increases in fixed-pay and performance-related compensation ▪ FX & other include the exit of Private Bank’s India franchise and non-recurrence of litigation releases in the prior-year quarter1 Q2 2025 0.2 Incremental investments (0.2) Operating efficiencies 0.2 0.2 FX & other Q2 2026 5.0 5.3 +8% Vol-related growth & inflation +4%1 Notes: IBCM – Investment Banking & Capital Markets; for footnotes refer to slides 33 and 34
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Provision for credit losses In € m, unless stated otherwise Notes: LTM – last twelve months, NPE – non-performing exposure; for footnotes refer to slides 33 and 34 ▪ Portfolio quality remains strong across all divisions with underlying performance in line with expectations ▪ Close monitoring of segments subject to economic and geopolitical risks; no material impacts observed to date ▪ Provision for credit losses includes the impact of the decision to exit certain non-performing exposures, supporting portfolio de-risking while freeing up capital 11Q2 2026 results, July 29, 2026 423 417 395 519 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 460 Planned exit of certain NPE 36 35 33 43 38 37 In bps of average loans annualized1 In bps for LTM2
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Capital metrics Notes: RWA – risk-weighted assets, CVA – credit valuation adjustment, DTA – deferred tax assets; for footnotes refer to slides 33 and 34 12Q2 2026 results, July 29, 2026 CET1 ratio1 Movements in bps Risk-weighted assets In € bn 1 4 1 Q1 2026 FX impact Business growth Other Q2 2026 361 367 45 11 Q1 2026 0 FX impact (18) RWA change Net income2 (27) Distribution deductions Other Q2 2026 13.8% 13.9% ▪ CET1 ratio higher by 11bps compared to Q1 2026: ▪ Net income2 benefit of 45bps from strong earnings ▪ Distribution deductions of 27bps reflect the commitment to a 60% payout ratio in respect of financial year 2026 net income ▪ Other up by 11bps due to equity compensation and lower capital deductions mainly from DTA ▪ Risk-weighted assets up by € 5bn (ex-FX impact) compared to Q1 2026: ▪ Business growth reflects increased RWA from growth in loans and commitments as well as guaranteed funds, offset by higher securitization benefits and reduced CVA RWA ▪ Other driven by model recalibrations, primarily in Private Bank
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Segment results 13Q2 2026 results, July 29, 2026
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Private Bank In € m, unless stated otherwise ▪ Ro TEof 11% and CIR of 70%, demonstrating continued progress in strategy execution ▪ Agreement to sell PB’s India franchise; CET1 accretion upon closing ▪ Strong revenue growth of 8%, driven by higher NII and net commission & fee income, with contributions from both PeB and WM ▪ Continued momentum in asset gathering with € 9bn net new AuM, including € 8bn in investment products ▪ Loans reflect growth in WM lending offset by targeted reductions in select lending books ▪ Noninterest expenses include impact of aforementioned saleand investments including severance ▪ Provision for credit losses reflects stable portfolio quality; prior-year quarter benefited from model updates Key highlights Notes: PeB – Personal Banking, WM – Wealth Management; for footnotes refer to slides 33 and 34 14Q2 2026 results, July 29, 2026 Q2 2025 Q2 2026 2,371 2,566 1,306 1,065 1,383 1,184 +8% +11% +6% Financial highlights Performance indicators Personal Banking Wealth Management Revenue performance € 846bn Client assets1, +3% QoQ Q2 2026 € 9bn New flows (AuM) Q2 2026 Statement of income Q2 2026 Δ YoY Δ QoQ Net revenues 2,566 8% (0)% Provision for credit losses 177 51% (1)% Noninterest expenses 1,784 8% 4% Profit (loss) before tax 605 (0)% (11)% Balance sheet and resources Assets under management (AuM), in € bn1 732 13% 5% Net flows (AuM), in € bn 9 39% (23)% Loans, in € bn2 245 (2)% (1)% Deposits, in € bn 331 4% 0% Risk-weighted assets, in € bn 97 4% 3% Provision for credit losses, bps of avg. loans3 29 10bps (0)bps Performance measures and ratios Net interest margin, in % 2.7 0.3ppt 0.0ppt Cost/income ratio, in % 69.5 0.0ppt 3.0ppt RoTE4, in % 11.3 0.5ppt (1.5)ppt
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Asset Management In € m, unless stated otherwise Key highlights ▪ Record net flows of € 25bn, including € 13bn from Cash and € 12bn long-term net flows, primarily into Passive ▪ AuM growth of 18% year on year, reflecting market appreciation and strong inflows ▪ Revenue growth driven by higher management fees, supported by increased average AuM; Q1 2026 benefited from higher performance fees ▪ Noninterest expenses reflect higher business activity, including volume-driven costs and share-price-related compensation effects Notes: for footnotes refer to slides 33 and 34 15Q2 2026 results, July 29, 2026 Financial highlights 630 709 58 37 Q2 2025 11 36 Q2 2026 725 756 +4% Management fees Performance and transaction fees Other +13% (81)% Revenue performance Performance indicators Flat Profit before tax vs. Q2 2025 € 11.6bn Long-term net flows3 Q2 2026 Statement of income Q2 2026 Δ YoY Δ QoQ Net revenues 756 4% (6)% Noninterest expenses 469 7% 5% Profit (loss) before tax 224 (0)% (20)% Balance sheet and resources Assets under management (AuM), in € bn1 1,190 18% 9% Long-term AuM, in € bn2 1,049 17% 9% Net flows, in € bn 25 192% 126% Long-term net flows, in € bn3 12 210% 76% Performance measures and ratios Management fee margin, in bps 24.8 (0.3)bps 0.0bps Cost/income ratio, in % 62.0 1.7ppt 6.6ppt RoTE4, in % 38.8 12.8ppt (10.8)ppt (3)%
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Corporate Bank In € m, unless stated otherwise Key highlights Notes: for footnotes refer to slides 33 and 34 16 ▪ Strong sequential growth and year-on-year revenue performance more than offsetting the impact of interest rate and FX headwinds ▪ Deposits grew by 9% with strong Corporate Cash Management contribution ▪ Loans grew by 7%, driven by Trade Finance ▪ Noninterest expenses slightly higher as effective cost management was more than offset by the non-recurrence of a litigation provision release in prior year ▪ Low provision for credit losses reflects solid underlying portfolio quality Q2 2026 results, July 29, 2026 Performance indicators +4% Net commission and fee income vs. Q2 2025 +7% Loans vs. Q2 2025 Financial highlights 527 496 316 326 Q2 2025 Q2 2026 1,896 1,906 1,053 1,084 +1% Corporate Treasury Services Institutional Client Services Business Banking +3% (6)% +3% Revenue performance Statement of income Q2 2026 Δ YoY Δ QoQ Net revenues 1,906 1% 5% Provision for credit losses 38 76% (20)% Noninterest expenses 1,177 4% 3% Profit (loss) before tax 691 (6)% 11% Balance sheet and resources Loans, in € bn1 125 7% 1% Deposits, in € bn 328 9% 3% Risk-weighted assets, in € bn 74 2% (0)% Provision for credit losses, bps of avg. loans2 13 5bps (4)bps Performance measures and ratios Net interest margin, in % 3.3 (0.3)ppt (0.1)ppt Cost/income ratio, in % 61.8 1.8ppt (1.3)ppt RoTE3, in % 16.4 (1.1)ppt 1.7ppt
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Investment Bank In € m, unless stated otherwise Key highlights ▪ Revenues significantly higher year on year, with record Q2 FIC revenues and strong performance in IBCM ▪ FIC Markets revenue growth primarily driven by strength in Rates and Credit Trading ▪ FIC Financing broadly flat to a strong prior year ▪ IBCM revenues grew both year on year and sequentially, reflecting strength in Equity Origination and Advisory ▪ Noninterest expenses higher year on year, due to targeted investments and performance-related compensation ▪ Provision for credit losses significantly lower, driven by partial overlay releases and non-repeat of prior-year model updates, partially offset by the impact of planned exit of non-performing exposures Notes: for footnotes refer to slides 33 and 34 17Q2 2026 results, July 29, 2026 Performance indicators +5% Client activity5 vs. Q2 2025 2.0% IBCM market share4 Q2 2026 Financial highlights 410 55930 Q2 2025 12 Q2 2026 2,687 3,185 +19% Fixed Income & Currencies Investment Banking & Capital Markets Research and Other +36% +16% 905 Markets Financing 1,708 2,6142,247 904 +27% +0% 1,343 Revenue performance Statement of income Q2 2026 Δ YoY Δ QoQ Net revenues 3,185 19% (6)% Provision for credit losses 174 (33)% (40)% Noninterest expenses 1,699 6% 3% Profit (loss) before tax 1,311 59% (9)% Balance sheet and resources Loans, in € bn1 124 15% 4% Deposits, in € bn 31 29% 3% Risk-weighted assets, in € bn 147 11% 1% Provision for credit losses, bps of avg. loans2 58 (36)bps (42)bps Performance measures and ratios Cost/income ratio, in % 53.3 (6.2)ppt 4.6ppt RoTE3, in % 13.4 4.7ppt (2.3)ppt
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Deutsche Bank Investor Relations Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary CB PB AM IB Businesses Mid Grey Strong H1 2026 performance puts franchise firmly on track to deliver revenue ambition of ~€ 33bn in FY 2026Revenues € 500m H2 2026 buyback approved from current year net income, to launch upon completion of the current € 1bn buyback; CET1 capital deductions in line with 60% payout ratio target1Capital Portfolios expected to show improving trends vs. FY 2025 on an underlying basisProvision for credit losses Expect FY 2026 expenses in line with plan while investing and delivering operating efficienciesCosts On track to deliver strong operating performance in FY 2026Profitability Outlook 18Q2 2026 results, July 29, 2026 Notes: for footnotes refer to slides 33 and 34
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Appendix 19Q2 2026 results, July 29, 2026
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey 2028 financial targets and capital objectives Notes: for footnotes refer to slides 33 and 34 20 <60% Cost/income ratio FY 2028 >13% Return on tangible equity FY 2028 13.5-14.0% CET1 ratio operating range2 60% Payout ratio 2026-2028 Excess capital+ Financial targets Capital objectives1 Q2 2026 results, July 29, 2026
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Capital deployment and distribution Discretion to deploy and distribute excess capital when CET1 ratio sustainably >14%1 Continuously grow dividend per share Payout ratio of 60% as ordinary distribution1 Distribution policyOptimized capital deployment 21 Preserve capital and liquidity buffers through macro cycles Pursue inorganic opportunities only if strict strategic, financial & cultural criteria are met Increase shareholder rewards across both dividends and share buybacks Invest in high-value, accretive business growth Q2 2026 results, July 29, 2026 Notes: for footnotes refer to slides 33 and 34
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Sustainability strategy progress Q2 2026 279 373 471 523 900 2023 2024 2025 Q2 2026 2030 target +52 Key achievements ▪ € 100m loan to a German electricity grid operator to finance substations, connectivity and charging infrastructure; more than 90% of revenues generated from sustainable activities ▪ Participated in € 3.0bn inaugural green bond for an APAC public transport operator, the largest euro-denominated green bond issuance in APAC; Deutsche Bank acted as Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager ▪ Reconfirmed as a constituent of the Dow Jones Best-in-Class World and Europe Indices following the latest S&P CSA Rating agency1 DB score 2019 Q2 2026 MSCI BBB AA S&P Global CSA 48 68 CDP Climate Change C Awareness A Leadership Sustainalytics 34.1 High Risk 9.0 Negligible Risk Selected ESG ratings Sustainable and transition finance volumes In € bn, cumulative (since 2020)2 Notes: for footnotes refer to slides 33 and 34 22Q2 2026 results, July 29, 2026
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey FX translation impact and indicative divisional currency mix In € m, unless stated otherwise 87% 57% 63% 43% 65% 20% 18% 38% 18% 19%8%4% Private Bank 4% 19% Asset Management Corporate Bank Investment Bank 12% 21% 1% Group EUR GBP USD Other1 81% 53% 58% 48% 22% 42% 18%33% 16% 19% 18% 18%13% 5%1% Private Bank 2% 23% Asset Management 17% 6% Corporate Bank 7% Investment Bank Group FX translation impact Indicative divisional currency mix Net revenues Noninterest expenses 23 Notes: for footnotes refer to slides 33 and 34 Q2 2026 results, July 29, 2026 Statement of income Q2 2025 Q1 2026 Q2 2026 Δ QoQ Δ YoY Net revenues - as reported 7,804 8,671 8,479 (2%) 9% FX translation impact (68) 28 - n.m. n.m. Net revenues - FX adjusted 7,736 8,699 8,479 (3%) 10% Provision for credit losses - as reported (423) (519) (460) (11%) 9% FX translation impact (2) (2) - n.m. n.m. Provision for credit losses - FX adjusted (425) (521) (460) (12%) 8% Noninterest expenses - as reported (4,959) (5,111) (5,340) 4% 8% FX translation impact 34 (23) - n.m. n.m. Noninterest expenses - FX adjusted (4,926) (5,134) (5,340) 4% 8% Profit (loss) before tax - as reported 2,421 3,041 2,680 (12%) 11% FX translation impact (36) 3 - n.m. n.m. Profit (loss) before tax - FX adjusted 2,385 3,044 2,680 (12%) 12% Balance sheet Loans - as reported, in € bn 472 486 491 1% 4% FX translation impact 3 2 - n.m. n.m. Loans - FX adjusted, in € bn 476 488 491 1% 3% Deposits - as reported, in € bn 653 687 698 2% 7% FX translation impact 4 2 - n.m. n.m. Deposits - FX adjusted, in € bn 658 688 698 1% 6% Assets under management - as reported, in € bn 1,655 1,788 1,922 8% 16% FX translation impact 1 1 - n.m. n.m. Assets under management - FX adjusted, in € bn 1,657 1,788 1,922 7% 16%
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey 20 consecutive quarters of year-on-year revenue growth In € bn, unless stated otherwise 2.9 2.8 1.7 2022 3.4 2.3 1.9 2023 3.1 2.6 2.0 2024 3.7 2.8 2.1 2025 4.2 2.8 1.7 2026 7.3 7.7 7.8 8.5 8.7 Net interest income Net commission and fee income Trading and other 2.9 3.0 2021 3.7 2.2 0.4 2022 3.2 2.2 1.3 2023 3.7 2.7 0.9 2024 4.3 2.8 0.6 2025 5.9 6.3 6.7 7.2 7.7 3.4 2.5 0.8 2022 3.6 2.3 1.5 2023 3.0 2.6 2.0 2024 3.8 2.7 1.3 2025 4.5 2.9 1.1 2026 6.6 7.4 7.6 7.8 8.5 2.8 2.6 0.6 2021 3.7 2.4 0.9 2022 3.3 2.4 1.4 2023 3.3 2.5 1.8 2024 3.9 2.7 1.5 2025 6.0 6.9 7.1 7.5 8.0 Q2 revenues Q3 revenues Q4 revenuesQ1 revenues +18% +2% +28% +9% +33% +7% +31% +7% 24Q2 2026 results, July 29, 2026
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Net interest income sensitivity and interest rate hedge Net interest income sensitivity1 Income from long-term hedge portfolio (excl. equity)1 Breakdown of sensitivity by currency For +25bps shift in yield curve, in € m EUR USD Other 2026 2027 2028 ~(15) ~25 ~75 2026 2027 2028 ~(5) ~5 ~15 2026 2027 2028 ~10 ~20 ~25 ~(10) ~5 2026 ~50 ~(70) 2027 ~115 ~(140) 2028 +25bps shift in yield curve -25bps shift in yield curve 1.2% 2.2%1.5% 1.8% 2.0% 2.5% 2024 2.6% 2025 2.9% 0.6% 3.6 0.1 2026 2.9% 1.1% 3.7 0.5 2027 3.0% 1.5% 3.5 1.0 2028 2.4 2.9 3.7 4.2 4.5 10y EUR swap Yield of maturing EUR hedges Locked-in Roll-over Average yield Illustrative EUR roll-over benefit 25 Notes: for footnotes refer to slides 33 and 34 In € bn, unless stated otherwiseHypothetical +/-25bps shift in yield curve, in € m Q2 2026 results, July 29, 2026
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Group Trading Book Value-at-Risk (VaR)1 and stressed Value-at-Risk (sVaR)1 In € m, 99% confidence level, as of June 30, 2026, 26 (600) (500) (400) (300) (200) (100) 0 100 200 300 400 500 600 (80) (40) 0 40 80 120 160 1-day VaR (LHS axis) 10-day sVaR (RHS axis)Trading P&L (LHS axis) Q3 2025 Q4 2025 Q1 2026 Q2 2026 Trading P&L2, VaR sVaR 33 33 26 29 140 211 208 195 Notes: averages refer to 1-day VaR and 10-day sVaR of each quarter respectively; LHS – left-hand side, RHS – right-hand side, P&L – profit and loss; for footnotes refer to slides 33 and 34 Q2 2026 results, July 29, 2026
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey 227 150 137 150 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 181 Commercial Real Estate (CRE) US CRE portfolio € 11bn Higher risk portfolio in scope of severe stress test Provision for credit losses US CRE in scope of severe stress test, in € m 40% US CRE allocated in US Office CRE portfolio € 31bn Total non-recourse portfolio1 Provision for credit losses CRE portfolio in scope of severe stress test YTD 66% Weighted average LTV of higher risk portfolio € 23bn Higher risk portfolio in scope of severe stress test2 84% 5% 11% US EU APAC 64% 6% 19% Office4% Hospitality Residential 1%Retail Industrial Other 92% Weighted average LTV in US Office4 By region By sector € 395m3€ 395m3 Notes: NPE – non-performing exposure, LTV – loan to value; for footnotes refer to slides 33 and 34 27 (22)% since 2022 (28)% since 2022 Q2 2026 results, July 29, 2026 Planned exit of certain NPE 5% (41)% since 2022
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Loans and deposits In € bn, unless stated otherwise Loan development1 108 111 115 119 124 117 118 120 123 125 248 248 247 247 245 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 472 476 479 486 491 +4% +1% Private Bank Corporate Bank Investment Bank Loan book composition 28% 5% 12%19% 4% 4% 8% 13% German Mortgages and Home Loans & Savings 2% International Mortgages Consumer Finance 2% Business Finance Wealth Management 0% Other PB Trade Finance & Lending Business Banking 3%Other CB3 Commercial Real Estate Asset Backed Securities 1% LDCM Other IB2 0% Other 302 305 329 319 328 318 325 329 331 331 24 Q2 2025 25 Q3 2025 28 Q4 2025 30 Q1 2026 31 Q2 2026 653 663 692 687 698 +7% +2% Deposit development1 Deposit split 23% 7% 17% 33% 14% 4% Private Bank sight deposits Private Bank saving deposits Private Bank term deposits Corporate Bank sight deposits Corporate Bank term deposits Investment Bank term deposits 1% Other4 Key highlights ▪ Loans increased by € 5bn, or 1%, during the quarter: ▪ Private Bank: growth in WM offset by targeted actions in select non-SVA accretive retail lending and reclassification of India franchise to ‘held for sale’ of € 3bn ▪ Corporate Bank: growth driven by Trade Finance & Lending with continued expansion of SVA-positive portfolios ▪ Investment Bank: sustained growth momentum in FIC Financing ▪ Deposits increased by € 12bn, or 2%, during the quarter: ▪ Private Bank: deposit balances supported by underlying campaign inflows and Wealth Management growth ▪ Corporate Bank: strong portfolio growth, particularly driven by sight deposit inflows in Corporate Cash Management Notes: WM – Wealth Management; for footnotes refer to slides 33 and 34 28Q2 2026 results, July 29, 2026
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Private Bank client assets In € bn, unless stated otherwise 515 549 179 183 127 113 Q1 2026 Q2 2026 821 846 +3% WM - AuM PeB - AuM PB - AuC 381 412 71 76 134 137 108 107 Q1 2026 Q2 2026 694 732 +5% WM - Inv. products PeB - Inv. products WM - Deposits PeB - Deposits (0.5) Q1 2026 (0.4) Q2 2026 11.5 8.8 1.4 1.3 9.2 1.5 1.1 6.6 WM - Inv. products PeB - Inv. products WM - Deposits PeB - Deposits (10)% +2% +7% +8% +1% Client assets1 Net flows (AuM)4Assets under management2,3 29 Notes: AuM – assets under management, AuC – assets under custody, WM – Wealth Management, PeB – Personal Banking; for footnotes refer to slides 33 and 34 Assets under management Q2 2026 results, July 29, 2026
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Asset Management AuM In € bn, unless stated otherwise Assets under management Net flows 442 453 460 458 489 346 376 395 396 455 105 107 108 112 105 125 17 100 Q2 2025 18 100 Q3 2025 16 106 Q4 2025 16 111 Q1 2026 16 Q2 2026 1,010 1,054 1,085 1,093 1,190 +18% +9% 3.0 10.3 6.52.4 6.6 11.7 6.7 4.6 12.9 (1.9) 4.8 (1.7) (2.3) Q2 2025 1.5 0.30.3 (0.3) Q3 2025 0.3 1.1 Q4 2025 (0.2) 0.2 (0.1) Q1 2026 0.4 (0.7)0.5 Q2 2026 8.5 12.1 10.5 11.0 24.8 Active Passive Alternatives Cash Advisory 11.66.63.7 10.3 8.0 Long-term flows1 30 Notes: AuM – assets under management; for footnotes refer to slides 33 and 34 Q2 2026 results, July 29, 2026
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Corporate & Other In € m, unless stated otherwise Financial results Profit (loss) before tax Statement of income Q2 2026 Δ YoY Δ QoQ Net revenues 65 (48)% (42)% Provision for credit losses 70 182% n.m. Noninterest expenses 210 54% 22% Noncontrolling interests (64) (1)% (18)% Profit (loss) before tax (151) n.m. n.m. Balance sheet and resources Risk-weighted assets, in € bn 33 7% 1% (90) 200 (77) (156) (92) 64 (151) Funding & liquidity Valuation & timing differences1 Legacy portfolios2 Shareholder expenses Other Noncontrolling interests3 Profit (loss) before tax (42) (15) (40) +11 (92) (1) (179) Abs. Δ vs. Q2 2025 (69) (13) (41) +1 (32) (14) (168) Abs. Δ vs. Q1 2026 Notes: for footnotes refer to slides 33 and 34 31Q2 2026 results, July 29, 2026
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Litigation update In € bn, period end Litigation provisions Contingent liabilities 1.7 1.3 1.3 1.3 1.2 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 1.2 1.1 0.9 1.0 0.9 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 32 Notes: figures reflect current status of individual matters and provisions; litigation provisions and contingent liabilities are subject to potential further developments; litigation provisions and contingent liabilities include civil litigation and regulatory enforcement matters Q2 2026 results, July 29, 2026
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Definition of certain financial measures and footnotes 1 / 2 Slide 8 – Revenue performance 1. Corporate & Other net commission and fee income (Q2 2025: € (6)m, Q2 2026: € (25)m are not shown on this chart but are included in Group totals Slide 9 – Net interest income (NII) and net interest margin (NIM) 1. Net interest income from key banking book segments as defined on slide 33 2. Net interest income from other funding effects arising primarily from Treasury funding activities that are not allocated to the key banking book segments but are allocated to other segments or held centrally in C&O 3. Accounting asymmetry primarily arises from funding costs associated with trading positions where the funding cost is reported in net interest income but is offset by revenues on the underlying positions recorded in noninterest revenues; conversely, it can also arise from the use of fair valued instruments to hedge key banking book segments positions where the cost or income of the underlying position is recorded as interest income, but the hedge impact is recorded as a noninterest revenue; these effects primarily occur in the Investment Bank (ex-FIC Financing), Asset Management and C&O including Treasury other than held in the key banking book segments Slide 10 – Noninterest expenses 1. Excluding the impacts of close to € 100m related to the recently announced exit of the Private Bank’s India franchise and around € 120m related to Q2 2025 litigation releases Slide 11 – Provision for credit losses 1. Quarterly provision for credit losses annualized as basis points of average loans gross of allowance at amortized cost 2. Last twelve months provision for credit losses as basis points of average loans gross of allowance at amortized cost Slide 12 – Capital metrics 1. Includes interim profit still subject to ECB approval 2. Represents net income attributable to DB shareholders Slide 14 – Private Bank 1. Detailed on slide 29; client assets include assets under management and assets under custody but exclude Personal Banking sight deposits 2. Loans gross of allowance at amortized cost 3. Provision for credit losses as basis points of average loans gross of allowances for loan losses 4. Post-tax return on average tangible shareholders’ equity applying a 28% tax rate; allocated average tangible shareholders’ equity Q2 2026: € 13.7bn, Q1 2026: € 13.9bn, Q2 2025: € 14.3bn; RoE: Q2 2026: 10.8% Slide 15 – Asset Management 1. Detailed on slide 30 2. Represents assets under management excluding Cash and Advisory 3. Represents net flows excluding flows from Cash and Advisory 4. Post-tax return on average tangible shareholders’ equity applying a 28% tax rate; allocated average tangible shareholders’ equity Q2 2026: € 1.6bn, Q1 2026: € 1.6bn, Q2 2025: € 2.4bn; RoE: Q2 2026: 14.2% Post-tax return on average tangible shareholders’ equity (RoTE) The Group post-tax return on average tangible shareholders’ equity (RoTE) is calculated as profit (loss) attributable to Deutsche Bank shareholders after deducting profit (loss) attributable to noncontrolling interests and additional equity components (AT1 coupon) as a percentage of average shareholders’ equity and average tangible shareholders' equity, respectively; the AT1 coupons used in the calculation represent the amount of the estimated coupons to be paid to the AT1 instruments at the next payment date, as of the respective reporting period; profit (loss) attributable to Deutsche Bank shareholders after AT1 coupon for the segments is a non-GAAP financial measure and is defined as profit (loss) excluding post tax profit (loss) attributable to noncontrolling interests and after AT1 coupon, which are allocated to segments based on their allocated average tangible shareholders’ equity Key banking book segments Key banking book segments are defined as Deutsche Bank business segments for which net interest income from banking book activities represent a material part of the overall revenue 33 Definition of certain financial measures Footnotes Slide 2 – Disciplined strategy execution delivers record H1 results 1. Throughout this presentation post-tax return on average tangible shareholders’ equity (RoTE) is calculated on net income after AT1 coupons as defined on slide 33; Group average tangible shareholders’ equity: H1 2026: € 59.9bn; Group post-tax return on average shareholders’ equity (RoE): H1 2026: 10.6% Slide 3 – Continued progress on Scaling the Global Hausbank 1. Represents the sum of reported Private Bank (PB) AuM and Asset Management (AM) AuM; certain PB AuM are invested in AM products and are also included in AM’s AuM as they considered two distinct services Slide 4 – All divisions delivered a RoTE of 12% or higher 1. Post-tax return on average tangible shareholders’ equity applying a 28% tax rate; RoE: Private Bank: H1 2026: 11.5%, Asset Management: H1 2026: 16.1%, Corporate Bank: H1 2026: 14.2%, Investment Bank: H1 2026: 14.0% 2. Improvement of Asset Management RoTEalso impacted by equity re-allocations as outlined at the Investor Deep Dive 2025 3. Client assets include assets under management and assets under custody but exclude Personal Banking sight deposits 4. Total FIC revenue credits across Institutional Client Group and Risk Management Solutions; development vs. prior-year quarter 5. Source: Dealogic Slide 7 – Q2 2026 highlights 1. Loans gross of allowance at amortized cost 2. Provision for credit losses as basis points of average loans gross of allowances for loan losses 3. Corporate & Other profit (loss) before tax (Q2 2025: € 28m, Q2 2026: € (151)m are not shown on this chart but are included in Group totals Q2 2026 results, July 29, 2026
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Definition of certain financial measures and footnotes 2 / 2 Slide 16 – Corporate Bank 1. Loans gross of allowance at amortized cost 2. Provision for credit losses as basis points of average loans gross of allowances for loan losses 3. Post-tax return on average tangible shareholders’ equity applying a 28% tax rate; allocated average tangible shareholders’ equity Q2 2026: € 11.1bn, Q1 2026: € 11.1bn, Q2 2025: € 11.2bn; RoE: Q2 2026: 15.0% Slide 17 – Investment Bank 1. Loans gross of allowance at amortized cost 2. Provision for credit losses as basis points of average loans gross of allowances for loan losses 3. Post-tax return on average tangible shareholders’ equity applying a 28% tax rate; allocated average tangible shareholders’ equity Q2 2026: € 25.5bn, Q1 2026: € 24.3bn, Q2 2025: € 23.8bn; RoE: Q2 2026: 12.9% 4. Source: Dealogic 5. Total FIC revenue credits across Institutional Client Group and Risk Management Solutions Slide 18 – Outlook 1. Distributions to shareholders are subject to corporate decisions, shareholder authorization, meeting German corporate law requirements, and in the case of share buybacks additionally require prior supervisory approval Slide 20 – 2028 financial targets and capital objectives 1. Distributions to shareholders are subject to corporate decisions, shareholder authorization, meeting German corporate law requirements, and in the case of share buybacks additionally require prior supervisory approval 2. With 200 basis points distance to the Maximum Distributable Amount (MDA) threshold as a floor Slide 21 – Capital deployment and distribution 1. Distributions to shareholders are subject to corporate decisions, shareholder authorization, meeting German corporate law requirements, and in the case of share buybacks additionally require prior supervisory approval Slide 22 – Sustainability strategy progress 1. Score ranges (best to worst): MSCI: AAA-CCC, S&P Global CSA: 100 to 0, CDP Climate Change: A to D-, Sustainalytics: 0 to 100 / Negligible to Severe Risks 2. 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 Slide 23 – FX translation impact and indicative divisional currency mix 1. For net revenues primarily includes Singapore Dollar (SGD), Indian Rupee (INR) and Australian Dollar (AUD); for noninterest expenses primarily includes INR, SGD and Swiss Franc (CHF) Slide 25 – Net interest income sensitivity and interest rate hedge 1. Based on balance sheet per May 31, 2026 and on current market-implied forward rates as of June 30, 2026 34 Slide 26 – Group Trading Book Value-at-Risk (VaR) and stressed Value-at-Risk (sVaR) 1. Timeline in the graph reflects the Trading P&L date whereas VaR/sVaR is as of the previous date for comparative purpose 2. Defined as actual income of trading units Slide 27 – Commercial Real Estate (CRE) 1. Based on Deutsche Bank’s definition of non-recourse CRE loans as detailed in Annual Report 2025 2. Bespoke internal stress testing scenario on the bank’s higher-risk non-recourse CRE portfolio, including US CRE 3. € 395m provision for credit losses for higher risk non-recourse CRE portfolio; € 402m provision for credit losses for total non-recourse CRE portfolio 4. Application of allowance for credit losses within LTV calculation results in weighted net LTV of 75% across US CRE Office; loan amount net of allowance / property value Slide 28 – Loans and deposits 1. Totals represent reported Group level balances whereas the graph shows only reported Corporate Bank, Investment Bank and Private Bank exposures for materiality reasons 2. Other Investment Bank businesses with exposure less than 4% each 3. Mainly includes Strategic Corporate Lending, Corporate Cash Management and Institutional Client Services 4. Other includes unsecured wholesale funding sourced by Treasury and hedge accounting effects Slide 29 – Private Bank client assets 1. Client assets include assets under management and assets under custody but exclude Personal Banking sight deposits 2. Investment Products also include insurances under discretionary and wealth advisory mandates in Wealth Management 3. Deposits are considered assets under management if they serve investment purposes; this includes all term and savings deposits in the Private Bank; in Wealth Management and Private Banking it is assumed that all customer deposits are held primarily for investment purposes 4. Net flows also include shifts between deposits and investment products Slide 30 – Asset Management AuM 1. Net flows excluding flows from Cash and Advisory Slide 31 – Corporate & Other 1. Valuation & timing reflects the mismatch in revenue from instruments accounted for on an accrual basis under IFRS that are economically hedged with derivatives that are accounted for on a mark-to-market basis 2. Legacy portfolios previously reported as the Capital Release Unit until Q4 2022 3. Reversal of noncontrolling interests reported in operating business segments (mainly Asset Management) Q2 2026 results, July 29, 2026
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Deutsche Bank Investor Relations PB AM CB Deep Blue Dark Blue Odyssey Blue Bright Blue Light Blue Ice Blue Grey Primary Businesses Mid Grey IB Light Grey Cautionary statements 35 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 results, July 29, 2026