Investor Presentaiton

2025 financial targets and capital objectives >10% Financial targets 3.5- 4.5% Capital objectives <62.5% ~13% Post-tax RoTE in 2025 Revenue CAGR 2021-2025 Cost/income ratio in 2025 50% CET1 ratio Total payout ratio from 2025 Well positioned to drive returns above cost of equity based on sustained operating leverage over the period Increased revenue momentum supp- ported by further balance sheet optimization and greater shift to capital- light businesses Reiterate CIR target, with continued focus on further structural cost reductions, via technology investments, process redesign and efficiencies in infrastructure Aim to operate with a buffer of 200bps above MDA, as we build capital and absorb regulatory changes Confirm 2025+ payout guidance and € 8bn anticipated cumulative payout in respect of FY 2021-2025 Notes: MDA-maximum distributable amount; € 8bn anticipated cumulative payout in respect of FY 2021-2025 (including distributions in respect of 2025, payable in 2026) subject to meeting strategic targets and German corporate law requirements, AGM authorization and regulatory approvals Deutsche Bank Investor Relations Q3 2023 results October 25, 2023 22 22

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