Q2 2018 Fixed Income Investor Conference Call

Execution on strategic plan to materially improve earnings and capital generation over time ☑ Conservative balance sheet management provides a solid basis to continue reshaping the franchise and focus on growth Corporate & Investment Bank: optimization of capital & resource allocation - including leverage reductions - is well underway Private & Commercial Bank: legal entity merger and integration of Sal. Oppenheim completed Asset Management: Delivering on our communicated strategy in DWS On track to meet our near-term adjusted cost and headcount reduction targets Deutsche Bank Investor Relations Q2 2018 Fixed Income Investor Call 27 July 2018 2

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