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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 Q3 2026 results Investor Relations October 28, 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 Q3 2026 results, October 28, 2026 Strategy execution delivers record 9M results and underpins path to targets 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 2 Continued investments across the franchise for further upside, while executing efficiency measures Strong revenue performance supported by a high- quality business mix and record net flows Record profit before tax of € 8.4bn and positive operating leverage € 1.5bn of share buybacks completed year-to-date 11.5% Return on tangible equity1 FY 2028 target: >13% € 25.5bn Revenues FY 2025-28 CAGR ambition: >5% 61.4% Cost/income ratio FY 2028 target: <60% 14.0% 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 Q3 2026 results, October 28, 2026 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 3 ▪ 5% YoY revenue growth, with greater contribution from focused growth areas delivering 6% increase, led by Private Bank and Asset Management ▪ Demonstrated strong capital discipline through securitizations, portfolio sales and other SVA measures, supporting shareholder returns ▪ Driving efficiency through further target operating model enhancements and workforce measures, while continuing to invest in technology, talent and business platform transformation Year-to-date € 1,973bn Assets under management (AuM)1 +14.1% YoY; +2.6% QoQ € 103bn AuM net flows1 +57.6% YoY Q3 2026 period end 9M 2026 cumulative € 497bn Loans2 +4.5% YoY; +1.3% QoQ € 716bn Deposits +8.0% YoY; +2.5% QoQ Q3 2026 period end Q3 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 Q3 2026 results, October 28, 2026 All divisions delivered a RoTE of 12% or higher 4 ▪ Private Bank client assets rose to € 865bn3, with record AuM net flows of € 17bn ▪ Asset Management generated record AuMnet flows of € 31bn, driven by long-term flows4 ▪ Corporate Bank delivered record revenues with growth in both deposits and loans; all businesses up year on year ▪ Strong FIC results supported by 5% YoY increase in client activity levels 5; IBCM market share in EMEA rising to 4.8%, up 160bps against the prior -year quarter 6 Key achievements in Q3Performance indicators in 9M Private Bank Asset Management Corporate Bank Investment Bank CIRRoTE1 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 67.1% (2.5)ppt YoY 59.0% (2.2)ppt YoY 61.2% (0.5)ppt YoY 52.6% (2.3)ppt YoY 12.3% +1.8ppt YoY 43.5% +18.1ppt2 YoY 16.2% +0.3ppt YoY 13.3% +0.8ppt 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 Q3 2026 results, October 28, 2026 Group financials 5
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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 Q3 2026 results, October 28, 2026 Q3 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 0.7 0.2 0.7 1.0 Q3 2025 0.7 0.2 0.7 1.1 Q3 2026 Private Bank Asset Management Corporate Bank Investment Bank 2.4 2.6 +8% 6 Statement of income Q3 2026 Δ YoY Δ QoQ Net revenues 8.3 4% (2)% Provision for credit losses 0.5 20% 9% Noninterest expenses 5.2 0% (3)% Profit (loss) before tax 2.6 8% (2)% Profit (loss) 1.9 2% (3)% Balance sheet and resources Average interest earning assets 1,122 9% 3% Loans1 497 5% 1% Deposits 716 8% 3% Risk-weighted assets 365 7% (1)% Performance measures and ratios RoTE, in % 10.6 0.0ppt (0.4)ppt Cost/income ratio, in % 62.4 (2.0)ppt (0.6)ppt Provision for credit losses, in bps of avg. loans2 41 6bps 3bps CET1 ratio, in % 14.0 (46)bps 12bps Per share information Diluted earnings per share € 0.94 6% 65% TBV per basic share outstanding € 31.87 6% 2%
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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 Q3 2026 results, October 28, 2026 Revenue performance In € bn, unless stated otherwise Revenues by segment Net commission and fee income1Revenues by type 7 Notes: C&O – Corporate & Other; for footnotes refer to slides 33 and 34 2.4 0.7 1.8 3.0 0.1 Q3 2025 2.6 0.8 2.0 2.9 0.1 Q3 2026 8.0 8.3 +4% Private Bank Asset Management Corporate Bank Investment Bank C&O 0.7 0.7 0.7 0.6 Q3 2025 0.8 0.7 0.8 0.6 Q3 2026 2.7 2.9 +8% Private Bank Asset Management Corporate Bank Investment Bank 3.9 2.7 1.5 Q3 2025 4.3 2.9 1.2 Q3 2026 8.0 8.3 +4% Net interest income Net commission and fee income Trading and other
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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 Q3 2026 results, October 28, 2026 Net interest income (NII) and net interest margin (NIM) In € bn, unless stated otherwise Key banking book1 Q3 2025 Q4 Q1 Q2 Q3 2026 3.4 3.5 3.6 3.6 3.7 1.7 1.7 1.9 1.7 1.9 1.7 1.9 1.7 1.9 1.8 Deposits Loans Group Segments 3.3 0.6 Q3 2025 3.4 0.8 Q4 3.5 0.7 Q1 3.6 1.0 Q2 3.7 0.6 Q3 2026 3.9 4.3 4.2 4.5 4.3 Key banking book1 and other funding2 Accounting asymmetry driven3 Corporate Bank Investment Bank (FIC Financing) Private Bank 0.7 Q3 2025 0.8 Q4 0.8 Q1 0.8 Q2 0.8 Q3 2026 1.1 1.1 1.1 1.2 1.2 1.6 1.6 1.6 1.7 1.7 2.5% 2.6% 2.6% 2.7% 2.7% 3.4% 3.4% 3.4% 3.3% 3.4% 2.7% 2.9% 2.8% 2.8% 2.7% Notes: for footnotes refer to slides 33 and 34 8 Divisional NIM 2.8% 2.9% 2.9% 2.9% 2.9%1.5% 1.6% 1.6% 1.7% 1.5%
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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 Q3 2026 results, October 28, 2026 Noninterest expenses In € bn, unless stated otherwise, year-on-year development 9 ▪ Incremental investments in modernizing technology infrastructure, Private Bank operating model optimization, hiring in Wealth Management and IBCMand expansion of Corporate Bank solutions ▪ Operating efficiencies driven by workforce optimization and target operating model improvements ▪ Volume-related growth & inflation includes higher fixed pay ▪ FX & other primarily reflects lower litigation expenses and bank levies Notes: IBCM – Investment Banking & Capital Markets Q3 2025 0.3 Incremental investments (0.2) Operating efficiencies 0.1 (0.1) FX & other Q3 2026 5.2 5.2 0% Vol-related growth & inflation
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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 Q3 2026 results, October 28, 2026 Provision for credit losses In € m, unless stated otherwise Notes: LTM – last twelve months, CRE – Commercial Real Estate; for footnotes refer to slides 33 and 34 10 ▪ Portfolio quality remains strong with underlying performance in line with expectations ▪ Close monitoring of segments subject to economic and geopolitical risks; no observable impacts to date ▪ Provision for credit losses includes further impacts from the decision to accelerate the exit of certain non-performing CRE exposures and an idiosyncratic event in the Corporate Bank in Asia 417 395 519 460 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 501 3935 43 38 41 33 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 Q3 2026 results, October 28, 2026 Capital metrics Notes: RWA – risk-weighted assets; for footnotes refer to slides 33 and 34 11 CET1 ratio1 Movements in bps Risk-weighted assets In € bn 1 3 Q2 2026 FX impact (5) Business growth Other Q3 2026 367 365 11 43 Q2 2026 (0) FX impact RWA change Net income2 (26) Distribution deductions (16) Other Q3 2026 13.9% 14.0% ▪ CET1 ratio higher by 12bps compared to Q2 2026: ▪ Net income2 benefit of 43bps from strong earnings ▪ Distribution deductions of 26bps reflect the commitment to a 60% payout ratio in respect of FY 2026 net income ▪ Immaterial impact from government bond movements reflecting prudent portfolio positioning and risk management included in Other ▪ Risk-weighted assets down by € 3bn (ex-FX impact) compared to Q2 2026: ▪ Lower consumption of market risk RWA and credit risk RWA during the quarter ▪ Increase in Other reflects move to standardized approach as part of simplification efforts and other technical effects
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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 Q3 2026 results, October 28, 2026 Segment results 12
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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 Q3 2026 results, October 28, 2026 Private Bank In € m, unless stated otherwise ▪ RoTE of 13% and CIR of 65% demonstrate continued progress in strategy execution, while absorbing ongoing investment impacts ▪ Revenue growth year on year driven by higher net commission & fee income (+13%) and NII (+9%), across both PeB and WM ▪ Strong client activity drove € 17bn of net new AuM, including€ 11bn in investment products ▪ Strong sequential growth in WM lending partly offset by continued reductions in select retail lending portfolios ▪ Noninterest expenses include investment impact to support future growth and higher cost for workforce measures, partly offset by positive impact of episodic items ▪ Increase in provision for credit losses versus prior year reflects the absence of favorable model updates in the prior-year quarter Key highlights Notes: PeB– Personal Banking, WM – Wealth Management; for footnotes refer to slides 33 and 34 13 Financial highlights Performance indicators Revenue performance Q3 2025 Q3 2026 2,415 2,606 1,332 1,083 1,410 1,196 +8% +10% Wealth Management Personal Banking Revenue performance € 865bn Client assets1, +2% QoQ Q3 2026 € 17bn Net flows (AuM) Q3 2026 +6% Statement of income Q3 2026 Δ YoY Δ QoQ Net revenues 2,606 8% 2% Provision for credit losses 209 146% 18% Noninterest expenses 1,699 3% (5)% Profit (loss) before tax 699 2% 15% Balance sheet and resources Assets under management (AuM), in € bn1 752 12% 3% Net flows (AuM), in € bn 17 27% 88% Loans, in € bn2 247 0% 1% Deposits, in € bn 337 4% 2% Risk-weighted assets, in € bn 97 4% 0% Provision for credit losses, bps of avg. loans3 34 20bps 5bps Performance measures and ratios Net interest margin, in % 2.7 0.2ppt 0.1ppt Cost/income ratio, in % 65.2 (3.0)ppt (4.3)ppt RoTE4, in % 13.0 0.4ppt 1.8ppt
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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 Q3 2026 results, October 28, 2026 Asset Management In € m, unless stated otherwise Key highlights 14 Financial highlights Performance indicators Notes: for footnotes refer to slides 33 and 34 655 745 50 29 Q3 2025 7 14 Q3 2026 734 766 +4% Management fees Performance and transaction fees Other +14% (87)% Revenue performance +3% Profit before tax vs. Q3 2025 € 17bn Long-term net flows3 Q3 2026 (51)% Statement of income Q3 2026 Δ YoY Δ QoQ Net revenues 766 4% 1% Noninterest expenses 456 5% (3)% Profit (loss) before tax 244 3% 9% Balance sheet and resources Assets under management (AuM), in € bn1 1,221 16% 3% Long-term AuM, in € bn2 1,064 14% 1% Net flows, in € bn 31 155% 24% Long-term net flows, in € bn3 17 61% 44% Performance measures and ratios Management fee margin, in bps 24.5 (0.6)bps (0.2)bps Cost/income ratio, in % 59.6 0.6ppt (2.5)ppt RoTE4, in % 41.7 13.6ppt 2.9ppt ▪ Strong growth continued, with € 31bn net flows, including € 17bn long- term net flows, driven primarily by momentum in Passive ▪ AuM growth of 16% year on year with AuM surpassing € 1.2tn, supported by sustained net flows and favorable market levels ▪ Revenue growth of 4% year on year, driven by higher management fees reflecting higher average AuM levels, partly offset by lower performance fees ▪ Noninterest expenses reflect continued investments in strategic growth initiatives and higher volume and share price related effects
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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 Q3 2026 results, October 28, 2026 Corporate Bank In € m, unless stated otherwise Key highlights 15 ▪ Strong quarter with record revenues and a Ro TE of 17.6% ▪ Revenues grew 9% year on year, driven by double-digit growth in both fee and net interest income, reflecting increased client engagement ▪ Deposits up 13% year on year, primarily reflecting growth in sight deposits ▪ Loans increased 8% year on year, supported by continued momentum in Flow and Structured T rade while reducing non-SVA- accretive portfolios ▪ Noninterest expenses essentially flat with some volume-related growth and targeted investments ▪ Provision for credit losses reflects impact of idiosyncratic event Performance indicatorsFinancial highlights Notes: for footnotes refer to slides 33 and 34 +13% Net commission and fee income vs. Q3 2025 464 479 308 338 Q3 2025 Q3 2026 1,816 1,978 1,044 1,161 +9% Corporate Treasury Services Institutional Client Services Business Banking +10% +3% +11% Revenue performance +8% Loans1 vs. Q3 2025 Statement of income Q3 2026 Δ YoY Δ QoQ Net revenues 1,978 9% 4% Provision for credit losses 68 n.m. 78% Noninterest expenses 1,167 2% (1)% Profit (loss) before tax 743 11% 8% Balance sheet and resources Loans, in € bn1 127 8% 2% Deposits, in € bn 346 13% 6% Risk-weighted assets, in € bn 75 6% 1% Provision for credit losses, bps of avg. loans2 22 23bps 10bps Performance measures and ratios Net interest margin, in % 3.4 0.1ppt 0.1ppt Cost/income ratio, in % 59.0 (4.3)ppt (2.8)ppt RoTE3, in % 17.6 1.4ppt 1.2ppt
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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 Q3 2026 results, October 28, 2026 Investment Bank In € m, unless stated otherwise Key highlights ▪ Revenues broadly matching last year’s record quarter ▪ Solid FIC performance vs. record prior-year quarter with FIC Financing significantly higher, reflecting strong pipeline execution ▪ FIC Markets down, driven by exceptional Credit T rading performance in Q3 2025 ▪ IBCM revenues essentially flat Y oY , with ongoing strength in Equity Origination and improvement in Advisory ▪ Debt Origination significantly lower, as a reduction in LDCM was partially offset by a record third quarter in investment grade ▪ Noninterest expenses 4% lower, including reduced litigation and bank levies, partially offset by targeted investments ▪ Provision for credit losses significantly lower with more favorable Stage 1 and 2 effects partially offset by Stage 3 provisions Notes: LDCM – Leveraged Debt Capital Markets; for footnotes refer to slides 33 and 34 16 Performance indicatorsFinancial highlights +5% Client activity5 vs. Q3 2025 2.1% IBCM market share4 Q3 2026 502 507 (2) Q3 2025 18 Q3 2026 2,978 2,918 (2)% Fixed Income & Currencies Investment Banking & Capital Markets Research and Other +1% (3)% 961 Markets Financing 1,432 2,3932,478 870 (11)% +10% 1,608 Revenue performance Statement of income Q3 2026 Δ YoY Δ QoQ Net revenues 2,918 (2)% (8)% Provision for credit losses 197 (36)% 13% Noninterest expenses 1,642 (4)% (3)% Profit (loss) before tax 1,077 12% (18)% Balance sheet and resources Loans, in € bn1 128 15% 3% Deposits, in € bn 30 20% (3)% Risk-weighted assets, in € bn 145 10% (1)% Provision for credit losses, bps of avg. loans2 63 (49)bps 5bps Performance measures and ratios Cost/income ratio, in % 56.3 (0.9)ppt 2.9ppt RoTE3, in % 10.8 0.0ppt (2.6)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 Strong 9M 2026 performance supports FY 2026 revenue ambition of above € 33bnRevenues CET1 capital deductions in line with 60% payout ratio target1; committed to delivering consistent shareholder distributionsCapital Underlying credit quality remains resilient and in line with expectations; provisions reflect the impact of continued derisking of legacy CRE portfolio and an idiosyncratic event Provision for credit losses On track to deliver FY 2026 expenses in line with plan while investing and delivering operating efficienciesCosts On track to deliver strong operating performance in FY 2026Profitability Outlook 17 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 Q3 2026 results, October 28, 2026 Appendix 18
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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 Q3 2026 results, October 28, 2026 2028 financial targets and capital objectives Notes: for footnotes refer to slides 33 and 34 19 <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
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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 Q3 2026 results, October 28, 2026 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 20 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 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 Q3 2026 results, October 28, 2026 Sustainability strategy progress Q3 2026 279 373 471 555 900 2023 2024 2025 Q3 2026 2030 target +84 Key achievements Rating agency1 DB score 2019 Q3 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: SDG – UN Sustainable Development Goals, EuGB– European Green Bond; for footnotes refer to slides 33 and 34 21 ▪ Contributed to € 1bn syndicated guarantee facility for ENERCON3; facility supports the production, distribution and servicing of onshore wind turbines4 ▪ € 375m loan facility5 to finance eligible expenditures, such as renewable energy and water access6, under Benin’s7 SDG Bond Framework ▪ Contributed to € 2.6bn EuGB issuance for TenneTGermany, largest corporate EuGB hybrid transaction to date8; proceeds allocated to eligible transmission infrastructure9 enabling security of supply and renewable energy integration in Germany10 ▪ Updated Deutsche Bank’s Transition Plan, incorporating revised emissions data and progress towards its targets
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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 Q3 2026 results, October 28, 2026 21 consecutive quarters of year-on-year revenue growth1 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 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 4.3 2.9 1.2 2026 6.9 7.1 7.5 8.0 8.3 Q2 revenues Q3 revenues Q4 revenuesQ1 revenues +18% +2% +28% +9% +20% +4% +31% +7% 22 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 Q3 2026 results, October 28, 2026 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 ~(5) ~10 ~50 2026 2027 2028 ~0 ~0 ~5 2026 2027 2028 ~0 ~15 ~20 ~(5) ~0 2026 ~25~(35) 2027 ~75 ~(95) 2028 +25bps shift in yield curve -25bps shift in yield curve 1.2% 2.3%1.5% 1.8% 2.1% 2.5% 2024 2.6% 2025 3.2% 0.4%2 0.0 2026 3.6% 1.1% 0.5 2027 3.7% 1.6% 2028 2.4 2.9 3.7 4.3 4.7 3.7 3.8 3.6 1.1 10y EUR swap Yield of maturing EUR hedges Locked-in Roll-over Average yield Illustrative EUR roll-over benefit 23 Notes: for footnotes refer to slides 33 and 34 In € bn, unless stated otherwiseHypothetical +/-25bps shift in yield curve, in € m
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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 Q3 2026 results, October 28, 2026 Group Trading Book Value-at-Risk (VaR)1 and stressed Value-at-Risk (sVaR)1 In € m, 99% confidence level, as of September 30, 2026 24 (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) Q4 2025 Q1 2026 Q2 2026 Q3 2026 Trading P&L2, VaR sVaR 32 29 33 33 211 208 195 169 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
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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 Q3 2026 results, October 28, 2026 Provision for credit losses Trends and outlook 25 In bps annualized (L TM) In bps annualized (L TM) excl. CRE 0 25 50 75 100 Q4 2023 Q1 2024 Q2 Q3 Q4 Q1 2025 Q2 Q3 Q4 Q1 2026 Q2 Q3 Group PB1 CB1 IB 30bps through the cycle guidance 0 25 50 75 100 Q4 2023 Q1 2024 Q2 Q3 Q4 Q1 2025 Q2 Q3 Q4 Q1 2026 Q2 Q3 Group ex-CRE IB ex-CRE 30bps through the cycle guidance ▪ Group provisioning levels include impacts of proactive, capital accretive de-risking strategy and valuation updates on legacy defaulted CRE portfolio with no evidence of wider portfolio weakness ▪ Private Bank and Corporate Bank portfolio performance remains stable and resilient, with future run rates expected to remain broadly in line with current levels ▪ CRE provision levels expected to gradually decline through 2027 and 2028 as legacy exposures are reduced through de- risking actions ▪ Continue to expect provision levels of around 30bps by 2028 Notes: increase in Private Bank and Corporate Bank provision for credit losses run rates as of Q3 2026 driven by (i) non-repeat of positive Private Bank model effects in 2025 and (ii) idiosyncratic event in Corporate Bank; LTM – last twelve months, PB – Private Bank, CB – Corporate Bank, IB – Investment Bank, CRE – Commercial Real Estate; 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 Q3 2026 results, October 28, 2026 150 137 150 181 147 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Commercial Real Estate (CRE) US CRE portfolio Provision for credit losses US CRE in scope of severe stress test, in € m CRE portfolio Provision for credit losses CRE portfolio in scope of severe stress test YTD 84% 7% 9% US EU APAC 67% 9% 9% 11% OfficeHospitality Residential 1% Retail 4% Industrial Other By region By sector € 569m3€ 569m3 Notes: presentation reflects weighted average net LTV after application of allowance for credit losses; loan amount net of allowance / property value; LTV before application of allowance for credit losses is 70% for the higher risk CRE portfolio and 101% for US CRE Office; LTV – loan to value; for footnotes refer to slides 33 and 34 26 (42)% Higher risk portfolio in scope of severe stress test since 2022 38% US CRE allocated in US Office (24)% Total non-recourse portfolio1, since 2022 61% Weighted average net LTV of higher risk portfolio4 (31)% Higher risk portfolio in scope of severe stress test2 since 2022 76% Weighted average net LTV in US Office4 € 30bn € 22bn € 11bn
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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 Q3 2026 results, October 28, 2026 Loans and deposits In € bn, unless stated otherwise Loan development1 111 115 119 124 128 118 120 123 125 127 248 247 247 245 247 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 476 479 486 491 497 +5% +1% Private Bank Corporate Bank Investment Bank Loan book composition 28% 5% 13%19% 4% 3% 8% 14% German Mortgages and Home Loans & Savings 2% International Mortgages Consumer Finance 2% Business Finance Wealth Management 0% Other PB Trade Finance & Lending Business Banking 2%Other CB3 Commercial Real Estate Asset Backed Securities 1% LDCM Other IB2 0% Other 305 329 319 328 346 325 329 331 331 337 25 Q3 2025 28 Q4 2025 30 Q1 2026 31 Q2 2026 30 Q3 2026 663 692 687 698 716 +8% +3% Deposit development1 Deposit split 23% 7% 17%34% 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 0% Other4 Key highlights ▪ Loans up € 6bn, or 1%, during the quarter: ▪ Private Bank: Strong growth in Wealth Management with further targeted reductions in select non-SVA accretive retail lending ▪ Corporate Bank: Growth in Flow and Structured Trade with continued optimizations in Lending to improve SVA ▪ Investment Bank: Continued strategic growth within FIC Financing ▪ Deposits up € 18bn, or 3%, during the quarter: ▪ Private Bank: Portfolio growth primarily driven by ongoing campaigns in Germany, alongside inflows from Wealth Management clients ▪ Corporate Bank: Strong momentum in Corporate Cash Management Notes: WM – Wealth Management; for footnotes refer to slides 33 and 34 27
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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 Q3 2026 results, October 28, 2026 Private Bank client assets In € bn, unless stated otherwise 549 564 183 188 113 113 Q2 2026 Q3 2026 846 865 +2% WM - AuM PeB - AuM PB - AuC 412 426 76 76 137 138 107 112 Q2 2026 Q3 2026 732 752 +3% WM - Inv. products PeB - Inv. products WM - Deposits PeB - Deposits (0.4) Q2 2026 0.5 Q3 2026 8.8 16.5 1.4 1.1 6.6 4.7 1.0 10.3 WM - Inv. products PeB - Inv. products WM - Deposits PeB - Deposits (1)% +3% +3% +3% +2% Client assets1 Net flows (AuM)4Assets under management2,3 28 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
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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 Q3 2026 results, October 28, 2026 Asset Management AuM In € bn, unless stated otherwise Assets under management Net flows 453 460 458 489 484 376 395 396 455 475 107 108 112 105 105 125 140 18 100 Q3 2025 16 106 Q4 2025 16 111 Q1 2026 16 Q2 2026 17 Q3 2026 1,054 1,085 1,093 1,190 1,221 +16% +3% 0.30.3 (0.3) Q3 2025 (2.3) 0.3 1.1 Q4 2025 (0.2) 0.2 (0.1) Q1 2026 0.4 (0.7)0.5 Q2 2026 0.4 1.5 0.0 Q3 2026 12.1 10.5 11.0 24.8 30.9 10.3 4.8 6.6 4.6 6.5 12.9 11.7 13.9 15.8 0.8 Active Passive Alternatives Cash Advisory 11.68.0 Long-term flows1 29 Notes: AuM – assets under management; for footnotes refer to slides 33 and 34 10.3 6.6 16.6
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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 Q3 2026 results, October 28, 2026 Notes: for footnotes refer to slides 33 and 34 30 Corporate & Other1 In € m, unless stated otherwise Financial results Profit (loss) before tax (92) 206 (41) (156) (115) 67 (131) Funding & liquidity Valuation & timing differences2 Legacy portfolios3 Shareholder expenses Other Noncontrolling interests4 Profit (loss) before tax (30) +11 +41 +1 (44) 0 (20) Abs. Δ vs. Q3 2025 (2) +6 +35 0 (23) +3 +20 Abs. Δ vs. Q2 2026Statement of income Q3 2026 Δ YoY Δ QoQ Net revenues 67 (33)% 2% Provision for credit losses 26 (15)% (63)% Noninterest expenses 239 (3)% 14% Noncontrolling interests (67) 0% 5% Profit (loss) before tax (131) 19% (13)% Balance sheet and resources Risk-weighted assets, in € bn 32 2% (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 Q3 2026 results, October 28, 2026 Litigation update In € bn, period end Litigation provisions Contingent liabilities Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 1.3 1.3 1.3 1.2 1.1 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 1.1 0.9 1.0 0.9 0.9 31 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
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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 Q3 2026 results, October 28, 2026 FX translation impact and indicative divisional currency mix In € m, unless stated otherwise 88% 59% 64% 46% 67% 21% 35%18% 19%18% 14%8%4% Private Bank 3%17% Asset Management Corporate Bank Investment Bank 17%1% Group EUR GBP USD Other1 83% 52% 55% 48% 22% 42% 19%34% 17% 19% 17% 16%11% 5%1% Private Bank 3% 23% Asset Management 19% 6% Corporate Bank Investment Bank Group 7% FX translation impact Indicative divisional currency mix Net revenues Noninterest expenses 32 Notes: for footnotes refer to slides 33 and 34 Statement of income Q3 2025 Q2 2026 Q3 2026 Δ QoQ Δ YoY Net revenues - as reported 8,043 8,479 8,335 (2)% 4% FX translation impact 24 31 - n.m. n.m. Net revenues - FX adjusted 8,066 8,510 8,335 (2)% 3% Provision for credit losses - as reported (417) (460) (501) 9% 20% FX translation impact (8) (1) - n.m. n.m. Provision for credit losses - FX adjusted (425) (460) (501) 9% 18% Noninterest expenses - as reported (5,180) (5,340) (5,203) (3)% 0% FX translation impact (28) (22) - n.m. n.m. Noninterest expenses - FX adjusted (5,208) (5,362) (5,203) (3)% 0% Profit (loss) before tax - as reported 2,445 2,680 2,631 (2)% 8% FX translation impact (12) 8 - n.m. n.m. Profit (loss) before tax - FX adjusted 2,433 2,688 2,631 (2)% 8% Balance sheet Loans -as reported, in € bn 476 491 497 1% 5% FX translation impact 5 1 - n.m. n.m. Loans -FX adjusted, in € bn 480 492 497 1% 4% Deposits -as reported, in € bn 663 698 716 3% 8% FX translation impact 5 2 - n.m. n.m. Deposits -FX adjusted, in € bn 668 700 716 2% 7% Assets under management -as reported, in € bn 1,729 1,922 1,973 3% 14% FX translation impact 3 0 - n.m. n.m. Assets under management -FX adjusted, in € bn 1,732 1,923 1,973 3% 14%
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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 Q3 2026 results, October 28, 2026 Definition of certain financial measures and footnotes 1 / 2 Slide 7 – Revenue performance 1. Corporate & Other net commission and fee income Q3 2025: € (13)m, Q3 2026: € (23)m are not shown on this chart but are included in Group totals Slide 8 – 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 t he 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 – 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 11 – Capital metrics 1. Includes interim profit still subject to ECB approval 2. Represents net income attributable to DB shareholders Slide 13 – Private Bank 1. Detailed on slide 28; 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 Q3 2026: € 13.9bn, Q2 2026: € 13.7bn, Q3 2025: € 14.0bn; RoE: Q3 2026: 12.4% Slide 14 – Asset Management 1. Detailed on slide 29 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 Q3 2026: € 1.6bn, Q2 2026: € 1.6bn, Q3 2025: € 2.3bn; RoE: Q3 2026: 15.3% Slide 15 – 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 Q3 2026: € 11.2bn, Q2 2026: € 11.1bn, Q3 2025: € 10.9bn; RoE: Q3 2026: 16.0% 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 Deutsch e Bank shareholders after deducting profit (loss) attributable to noncontrolling interests and additional equity components (AT1 cou pon) as a percentage of average shareholders’ equity and average tangible shareholders' equity, respectively; the AT1 coupons used in t he calculation represent the amount of the estimated coupons to be paid to the AT1 instruments at the next payment date, as of t he 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 acti vities represents a material part of the overall revenue 33 Definition of certain financial measures Footnotes Slide 2 – Strategy execution delivers record 9M results and underpins path to targets 1. Throughout this presentation post-tax return on average tangible shareholders’ equity (RoTE) is calculated on net income after A T1 coupons as defined on slide 33; Group average tangible shareholders’ equity: 9M 2026: € 59.8bn; Group post -tax return on average shareholders’ equity (RoE): 9M 2026: 10.2% 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 are considered two distinct services 2. Loans gross of allowance at amortized cost 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: 9M 2026: 11.8%, Asset Management: 9M 2026: 15.8%, Corporate Bank: 9M 2026: 14.8%, Investment Bank: 9M 2026: 12.8% 2. Improvement of Asset Management RoTE also 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. Net flows excluding flows from Cash and Advisory 5. Total FIC revenue credits across Institutional Client Group and Risk Management Solutions; development vs. prior -year quarter 6. Source: Dealogic Slide 6 – Q3 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 Q3 2025: € (110)m, Q3 2026: € (131)m are not shown on this chart but are included in Group totals
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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 Q3 2026 results, October 28, 2026 Definition of certain financial measures and footnotes 2 / 2 Slide 16 – 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’ equit y Q3 2026: € 25.3bn, Q2 2026: € 25.5bn, Q3 2025: € 22.8bn; RoE: Q3 2026: 10.4% 4. Source: Dealogic 5. Total FIC revenue credits across Institutional Client Group and Risk Management Solutions Slide 17 – 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 19 – 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 20 – 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 21 – 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 Risk 2. Cumulative figures include sustainable and transition financing as well as ESG investment activities as defined in Deutsche Bank’s Sustainable Finance Framework, Transition Finance Framework, and ESG Investments Framework; all are published on the bank’s website 3. To support the company's continued development 4. Deutsche Bank acted as joint coordinator and bookrunner 5. Deutsche Bank acted as co-mandated lead arranger 6. Other priority investments include education, health, infrastructure, agriculture, and job creation for young people and women 7. The Republic of Benin’s Ministry of Economy and Finance 8. According to Bloomberg SRCH 9. In accordance with Activity 4.9 of Annex I of the EU Taxonomy Climate Delegated Act 10. Deutsche Bank acted as joint active bookrunner Slide 22 – 21 consecutive quarters of year-on-year revenue growth 1. Consecutive quarterly year-on-year revenue growth since Q2 2021; includes quarters that are not shown on the slide Slide 23 – Net interest income sensitivity and interest rate hedge 1. Based on balance sheet per August 31, 2026 and current market-implied forward rates as of September 30, 2026 2. Yield of maturing hedges calculated using the full-year average compared to the remainder -of-year average Slide 24 – 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 34 Slide 25 – Provision for credit losses: trends and outlook 1. Increase in Private Bank and Corporate Bank provision for credit losses run rates as of Q3 2026 driven by (i) non-repeat of positive Private Bank model effects in 2025 and (ii) idiosyncratic event in Corporate Bank Slide 26 – 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. € 569m provision for credit losses for higher risk non-recourse CRE portfolio; € 576m provision for credit losses for total non- recourse CRE portfolio 4. Weighted average net LTV after application of allowance for credit losses; loan amount net of allowance / property value; LTV before application of allowance for credit losses is 70% for the higher risk CRE portfolio and 101% for US CRE Office Slide 27 – 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 28 – 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 29 – Asset Management AuM 1. Net flows excluding flows from Cash and Advisory Slide 30 – Corporate & Other 1. Following the simplification of our internal Funds Transfer Pricing (FTP) framework in July 2026, certain items were reclassified between the Funding and Liquidity and Other revenue line items within Corporate & Other; this reclassification had no impact on total revenues or profit before tax 2. 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 3. Legacy portfolios previously reported as the Capital Release Unit until Q4 2022 4. Reversal of noncontrolling interests reported in operating business segments (mainly Asset Management) Slide 32 – FX translation impact and indicative divisional currency mix 1. For net revenues primarily includes Indian Rupee (INR), Singapore Dollar (SGD) and Polish Zloty (PLN); for noninterest expenses primarily includes INR, SGD and Hong Kong Dollar (HKD)
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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 Q3 2026 results, October 28, 2026 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 Q3 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 Accounting 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 reducing the volatility of reported revenue from Treasury activities. The application of the EU carve out version of IAS 39 had a positive impact of € 3.0 billion on profit before tax and of € 2.2 billion on profit after tax for the three-month period ended September 30, 2026, compared to a positive impact of € 343 million on profit before tax and of € 120 million on profit post tax for the three-month period ended September 30, 2025. The application of the EU carve out version of IAS 39 had a positive impact of € 3.2 billion on profit before tax and of € 2.3 billion on profit after tax for the nine-month period ended September 30, 2026, compared to a positive impact of € 199 million on profit before taxes and of € 17 million on profit post taxes for the nine-month period ended September 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 September 30, 2026, the application of the EU carve out had a positive impact on the CET1 capital ratio of about 10 basis points compared to a negative impact of about 71 basis points as of September 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 hedging 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