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Q4 2020 Quarterly Statement // DWS Frankfurt / Main February 4 , 2021 DWS 2020 : Highly Successful in Difficult Times , Medium - Term Targets Achieved Ahead of Plan • • • • • • • Net inflows again higher , resulting in a total of EUR 30.3bn net new assets in FY 2020 , EUR 13.6bn in Q4 . Ex Cash EUR 10.8bn in FY 2020 , EUR 8.3bn in Q4 Adjusted Cost - Income Ratio ( CIR ) at 64.5 % in 2020 , achieving target for 2021 ; 64.9 % in Q4 Adjusted profit before tax increased by 3 % to EUR 795m in 2020 ( FY19 : EUR 774m ) ; EUR 212m in Q4 2020 , down 2 % q - o - q ; net income at EUR 558m in FY 2020 , up 9 % Adjusted costs reduced by 11 % to EUR 1,442m in FY 2020 ( FY19 : EUR 1,615m ) . EUR 393m in Q4 2020 ( Q3 : EUR 342m ) , up 15 % q - o - q , among other things , due to higher deferred compensation relating to DWS share price development in Q4 2020 Total revenues of EUR 2,237m in FY 2020 ( FY19 : EUR 2,389m ) , down 6 % due to certain additional fund performance fees recognized in 2019 ; total revenues up in Q4 2020 by 8 % q - o - q to EUR 605m ( Q3 : EUR 558m ) , mainly due to higher management fees AuM further up by EUR 25bn to EUR 793bn in 2020 ( Q3 : EUR 759bn ; Q4 2019 : EUR 767bn ) The Executive Board will propose a dividend of EUR 1.81 per share for the 2020 financial year Net Flows & Revenues Adjusted CIR & Adjusted Costs Revenues ( EUR m ) 2,259 2,389 2,237 Adjusted CIR ( % ) 72.3 67.6 64.5 30.3 26.1 1,633 1,615 1,442 -22.3 FY 2018 FY 2020 FY 2019 Net flows ( EUR bn ) " 2020 was another very good year for DWS . We attracted record net inflows and were able to achieve the ambitious medium - term targets that were set for phase 1 of our corporate journey as a listed company . Looking ahead , we will invest to transform our firm to meet the challenges of tomorrow . And we will invest to grow , in businesses , regions and trends , where we believe we can lead our industry . " Asoka Woehrmann , CEO Published by the Communications and IR Departments DWS Group GmbH & Co. KGaA https://group.dws.com FY 2018 FY 2019 FY 2020 Adjusted costs ( EUR m ) " Our strong focus on cost management has paid off : We managed down our adjusted cost base by 11 percent in 2020 , reaching our target for the adjusted Cost - Income Ratio of below 65 percent in a sustainable manner . In addition , we increased our adjusted profit before tax by 3 percent and our net income by 9 percent . Based on our strong results , we will again raise our dividend proposal . " Claire Peel , CFO Mainzer Landstr . 11-17 60329 Frankfurt , Germany