Deutsche Bank Ag · XETR:DBK

Deutsche Bank — Goldman Sachs European Financials Conference 2011

15 slides from Deutsche Bank's conference presentation, Jun 10, 2011

1. Slide 1: Deutsche Bank at the Goldman Sachs European Financials Conference

   Deutsche Bank Deutsche Bank Dr Hugo Banziger Dr. Chief Risk Officer Deutsche Bank Goldman Sachs European Goldman Sachs European Financials Conference Financials Conference financial transparency. Investor Relations Dr. Hugo Banziger, 10 June 2011 Paris, 10 June 2011

2. Slide 2: DB's auspicious start in 2011

   DB’s auspicious start in 2011 1Q2011 1Q2010 Income before income taxes (in EUR bn) 3.0 2.8 Profita- Net income (in EUR bn) 2.1 1.8 bility Pre-tax RoE (target definition)(1) 22% 30% Diluted EPS (in EUR) 2.13 2 43 2.43 31 Mar 2011 31 Dec 2010 Core Tier 1 capital ratio 9.6% 8.7% Capital Tier 1 capital

3. Slide 3: Underpinned by solid performance across CIB's major business lines

   Underpinned by solid performance across CIB’s major b i business lilines Income before income taxes, in EUR m Corporate Banking & Securities Global Transaction Banking Negative goodwill(1) 4Q2010 efficiency measures(2) 2,589 2,304 478 1,101 257 214 779 270 625 119 130 94 1Q 2Q 3Q 4Q 1Q 1Q(3) 2Q 3Q 4

4. Slide 4: ... and record quarterly results in PCAM ...

   … and record quarterly results in PCAM … I Income before b f income i taxes, t in i EUR m Asset and Wealth Management Private & Business Clients Net HuaXia one-off impact Net Postbank contribution(1) 788 236 190 221 91 65 222 59 30 331 189 233 245 192 (5) 1Q 2Q 3Q 4Q 1Q 1Q 2Q 3Q 4Q 1Q 2010 2011 2010

5. Slide 5: ... the near-term destination is already within sight

   … the near-term destination is already within sight Income before income taxes 2011 target In EUR bn Income before income taxes taxes, in EUR bn 2.8 3.0 (2) Phase 4 1.5 1.3 0.7 potential 1Q2010 1Q2011 2011 (1.0) 1Q 2Q 3Q 4Q 1Q Corporate Banking & 2.6 2.3 6.4 2010 2011 Securities Pre-tax return on eq

6. Slide 6: The Road Map to future target is clear

   The Road Map to future target is clear Th „new““ D The Deutsche t h B Bank k Well capitalised More balanced Core tier 1 ratio Income before income taxes 9.6% (1) Classic banking (PCAM / GTB) Investment bank (CB&S) > 8% Basel 2.5 B Basel l3 29% >40% De-risking <60% Retained 71% ABN AMRO earnings Neth

7. Slide 7: Though, the regulatory course in Europe is challenging

   Though, the regulatory course in Europe is challenging 5 characteristics of a SIFI Inter- Substitutability Complexity Global reach Size connectiveness Gradual phase-in of Core Tier 1 Stricter funding Leverage g ratio capital p requirements q requirements q Netting 12,0% Loans to 0% Term Funded posit

8. Slide 8: Management actions initiated in 2009 provide buffer to meet future capital requirements

   Management actions initiated in 2009 provide buffer to meett future f t capital it l requirements i t … Simulation of Core Tier 1 Ratio(1) 16% All measures in place for full regulatory compliance, including potential systemic banks 14% surcharge, and for shareholder value creation 12% Core Tier 1 Ra

9. Slide 9: ... assisted by capital release from capital-intensive assets ...

   … assisted by capital release from capital-intensive assets … Capital-intensive assets Alt-A Alt A / subprime b i Banking B ki b book k Credit correlation Postbank CRE trading book securitizations Credit correlation: Credit correlation: Risk reduction by category Roll-off profile from current Notion

10. Slide 10: ... with potential to raise additional capital from CoCo issuance

    … with potential to raise additional capital from CoCo i issuance Pre-contingency instruments Trigger events Post-trigger scenarios Principal write-down it d Debt classification Potential triggers Write-down / Write-up Full / partial write write-off off Tier 1 Capital ratios Tier 2 Viability event C

11. Slide 11: DB is delivering results with conservative risk management ...

    DB is delivering results with conservative risk managementt ... No “capital only”- approach - focus on three pillars, as of 31 March 2011 Capital Liquidity Funding Core Tier 1 Ratio 9.6% (1) Term issuance EUR163bn Liquidity reserves >EUR135bn Tier 1 Ratio 13 13.4% 4% Retail deposits EUR283bn Shareho

12. Slide 12: ... and is well positioned with balanced cash flow profiles ...

    ... and is well positioned with balanced cash flow profiles ... Capital markets maturity profile Liquidity profile As of 31 Mar 2011 2011, in EUR bn As of 31 Dec 2010 2010, cumulative, cumulative in EUR bn Assets Equity 2 25 300 Liabilities Surplus 20 250 200 15 150 10 100 5 50 0 0 2011 2012 2013 20

13. Slide 13: ... and a constant increase of stable funding

    … and a constant increase of stable funding Funding sources overview Postbank providing additional funding 30 Jun 2007 (Total: EUR 1 1,185 185 bn) In EUR bn 31 Mar 2011 (Total: EUR 1,078 bn) Available stable funding Required stable funding 31 Mar 2011, in % of total (incl. Postbank) Postbank DB 20 2

14. Slide 14: Conclusions

    Conclusions — Deutsche Bank is confident to meet Basel 3 capital requirements early — Capital p release from capital-intensive p assets will assist capital p g growth — Deutsche Bank is confident to meet liquidity requirements early — Management initiatives on cost and growth leave Deutsche Bank wel

15. Slide 15: Cautionary statements

    Cautionary statements This presentation contains forward forward-looking looking statements. Forward Forward-looking 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 b

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