Deutsche Bank : Pillar 3 Report Q1 2026

About this update from Deutsche Bank Ag

Pillar 3 Report as of March 31, 2026 Deutsche Bank Content 3 Regulatory framework 3 Basis of Presentation 3 Basel 3 and CRR/CRD 4 MREL and TLAC 4 ICAAP, ILAAP and SREP 4 Key metrics 6 Key metrics of own funds and eligible liabilities 6 Capital requirements 7 Overview of RWA and capital requirements 12 Credit risk exposure and credit risk mitigation in the internal-rating-based approach 12 Development of credit risk RWA 13 Counterparty credit risk (CCR) 13 CCR exposures development 14 Market risk 14 Own funds requirements for market risk under the IMA 14 Development of market risk RWA 16 Liquidity risk 16 Qualitative information on LCR Quantitative information on LCR List of tables ‌Regulatory framework ‌Basis of Presentation Article 431 (1), (2) CRR, 433 CRR and 433a CRR This Pillar 3 Report provides disclosures for the consolidated Deutsche Bank Group (the Group or the bank) as required by the global regulatory framework for capital and liquidity, which was established by the Basel Committee on Banking Supervision, also known as Basel 3. In the European Union (EU), the Basel 3 framework is implemented by the amended versions of Regulation (EU) 575/2013 on prudential requirements for credit institutions (Capital Requirements Regulation or CRR) and the Directive (EU) 2013/36 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms (Capital Requirements Directive or CRD). As a single rulebook, the CRR is directly applicable to credit institutions in the European Union and provides the grounds for the determination of regulatory capital requirements, regulatory own funds, leverage and liquidity as well as other relevant requirements. In addition, the CRD was implemented into German law by means of further amendments to the German Banking Act (Kreditwesengesetz or KWG) and the German Solvency Regulation (SolvV) and accompanying regulations. Jointly, these laws and regulations represent the regulatory framework applicable in Germany. The disclosure requirements are provided in Part Eight of the CRR and in Section 26a of the KWG. Further disclosure guidance has been provided by the European Banking Authority (EBA) in its "Final draft implementing technical standards on public disclosures by institutions of the information referred to in Titles II and III of Part Eight of Regulation (EU) No 575/2013" (EBA ITS). The Group adheres to the frequency of disclosure requirements as per Article 433 and 433a of the CRR and as provided within these EBA Guidelines and includes comparative periods in accordance with the requirements of EBA ITS. Disclosures required on a quarterly basis generally include comparative information for the prior quarter. Numbers presented throughout this document may not add up precisely to the totals and percentages may not precisely reflect the absolute figures due to rounding. Where applicable comparative information has been aligned to the presentation in the current report. The information provided in this Pillar 3 Report is unaudited. ‌Basel 3 and CRR/CRD The CRR/CRD lays the foundation for the calculation of the minimum regulatory requirements with respect to own funds and eligible liabilities, the liquidity coverage ratio and the net stable funding ratio. Regulation (EU) 2024/1623 introduces fundamental changes to the CRR that are generally applicable from January 1, 2025 ("CRR3"). With respect to own funds requirements for credit risk, for example new floors for internal probability of default (PD) and loss given default (LGD) estimates are introduced and the advanced Internal Ratings Based Approach must no longer be applied for large corporates. Hence, for exposures facing large corporates, it is no longer possible to estimate the LGD based on an internal model, but instead a supervisory LGD must be used. Also the Credit Risk Standardized Approach is fundamentally revised, e.g. the treatment of exposures secured by residential or commercial immovable property is changed. For operational risk, the capital requirements can no longer be determined based on an internal model, instead a standardized approach must be applied. In 2025, the total risk exposure amount was floored at 50% of the risk exposure amounts determined based on the standardized approaches ("output floor") and in 2026, this percentage increases to 55%. The output floor gradually increases to 72.5% of the risk exposure amounts determined based on standardized approaches on January 1, 2030. The amendments for market risk (Fundamental review of the trading book - FRTB) have been delayed by Commission Delegated Regulations (EU) 2024/2795 and 2025/1496 until January 1, 2027. Accordingly, during 2025 and 2026 market risk own funds requirements are determined based on the internal model and standardized approach in the version of Regulation (EU) 575/2013 in force on July 8, 2024. In parallel the FRTB standardized approach is used for the output floor calculation as well as the reporting obligation. Following the EBA opinions dated February 27, 2023, August 12, 2024 and August 8, 2025 equally the amended FRTB rules on trading book assignment, reclassifications and internal hedges are delayed until January 1, 2027. There is still uncertainty as to how some of the CRR/CRD rules should be interpreted and there are still related binding Technical Standards for which a final version is not yet available. Thus, the Group will continue to refine assumptions and models in line with evolution of these regulations as well as the industry's understanding and interpretation of the rules. Against this background, current CRR/CRD measures may not be comparable to previous expectations. Also, CRR/CRD measures may not be comparable with similarly labeled measures used by competitors, as their assumptions and estimates may differ from Deutsche Bank's. ‌MREL and TLAC Banks in the European Union are required to meet at all times a minimum requirement for own funds and eligible liabilities (MREL) which ensures that banks have sufficient loss absorbing capacity in resolution to avoid recourse to taxpayers' money. Relevant laws are the Single Resolution Mechanism Regulation (SRMR) and the Bank Recovery and Resolution Directive (BRRD) as implemented through the German Recovery and Resolution Act (Sanierungs- und Abwicklungsgesetz, SAG). In addition, the CRR requires G-SIIs in Europe to have at least the maximum of 18% plus the combined buffer requirement of risk weighted assets (RWA) and 6.75% of leverage exposure as total loss absorbing capacity (TLAC). Instruments which qualify for MREL and TLAC as own funds are Common Equity Tier 1, Additional Tier 1, and Tier 2 along with certain eligible liabilities (mainly plain-vanilla unsecured bonds). Instruments qualifying for TLAC need to be fully subordinated to general creditor claims (e.g., senior non-preferred bonds). While this is not required for MREL, MREL regulations allow the Single Resolution Board (SRB) to also set an additional subordination requirement within the MREL requirements (but separate from TLAC), which allows only subordinated liabilities and own funds to be counted. MREL is determined by the competent resolution authorities for each supervised bank and its preferred resolution strategy. In the case of Deutsche Bank AG, MREL is determined by the SRB. While there is no statutory minimum level of MREL, the CRR, SRMR, BRRD and delegated regulations set out criteria which the resolution authority must consider when determining the relevant required level of MREL. Guidance is provided through a MREL policy published annually by the SRB. Any binding MREL ratio determined by the SRB is communicated to Deutsche Bank via the German Federal Financial Supervisory Authority (BaFin). Deutsche Bank AG received its current total MREL and current subordinated MREL requirement with immediate applicability in the second quarter of 2025. ‌ICAAP, ILAAP and SREP The internal capital adequacy assessment process (ICAAP) as stipulated in Pillar 2 of Basel requires banks to identify and assess risks, to apply effective risk management techniques and to maintain adequate capitalization. The Group's internal liquidity adequacy assessment process (ILAAP) aims to ensure that sufficient levels of liquidity are maintained on an ongoing basis by identifying the key liquidity and funding risks to which the Group is exposed, by monitoring and measuring these risks, and by maintaining tools and resources to manage and mitigate these risks. In accordance with Article 97 CRD supervisors regularly review, as part of the supervisory review and evaluation process (SREP), the arrangements, strategies, processes, and mechanisms implemented by banks and evaluate: (a) risks to which the institution is or might be exposed; (b) risks the institution poses to the financial system; and (c) risks revealed by stress testing. ‌Key metrics Article 447 (a-g) and Article 438 (b) CRR The following table highlights Deutsche Bank's key regulatory metrics and ratios, and related input components as defined by the current versions of the CRR and CRD. In line with disclosure requirements the Liquidity Coverage Ratio is based on 12 months rolling averages and the other metrics are based on spot information. EU KM1 - Key metrics a b c d e Mar 31, Dec 31, Sep 30, Jun 30, Mar 31, in € m. (unless stated otherwise) 2026 2025 2025 2025 2025 Available own funds (amounts) 1 Common Equity Tier 1 (CET 1) capital 49,869 49,266 49,346 48,522 48,645 2 Tier 1 capital 60,586 60,784 59,864 60,193 60,316 3 Total capital 67,378 67,834 66,866 67,200 67,741 Risk-weighted exposure amounts 4 Total risk-weighted exposure amount 361,094 347,133 340,387 340,805 351,973 4a Total risk exposure pre-floor 361,094 347,133 340,387 340,805 351,973 Capital ratios (as percentage of risk-weighted exposure amount) 5 Common Equity Tier 1 ratio (%) 13.81 14.19 14.50 14.24 13.82 5b Common Equity Tier 1 ratio considering unfloored TREA (%) 13.81 14.19 14.50 14.24 13.82 6 Tier 1 ratio (%) 16.78 17.51 17.59 17.66 17.14 6b Tier 1 ratio considering unfloored TREA (%) 16.78 17.51 17.59 17.66 17.14 7 Total capital ratio (%) 18.66 19.54 19.64 19.72 19.25 7b Total capital ratio considering unfloored TREA (%) 18.66 19.54 19.64 19.72 19.25 Additional own funds requirements to address risks other than the risk of excessive leverage (as a percentage of risk-weighted exposure amount) EU 7d Additional own funds requirements to address risks other than the risk of excessive leverage (%) 2.85 2.90 2.90 2.90 2.90 of which: EU 7e to be made up of CET 1 capital (percentage points) 1.60 1.63 1.63 1.63 1.63 EU 7f to be made up of Tier 1 capital (percentage points) 2.14 2.18 2.18 2.18 2.18 EU 7g Total SREP own funds requirements (%) 10.85 10.90 10.90 10.90 10.90 Combined buffer and overall capital requirement (as a percentage of riskweighted exposure amount) 8 Capital conservation buffer (%) 2.50 2.50 2.50 2.50 2.50 EU 8a Conservation buffer due to macro-prudential or systemic risk identified at the level of a Member State (%) 0.00 0.00 0.00 0.00 0.00 9 Institution specific countercyclical capital buffer (%) 0.48 0.50 0.48 0.48 0.48 EU 9a Systemic risk buffer (%) 0.13 0.14 0.14 0.13 0.19 10 Global Systemically Important Institution buffer (%) 1.00 1.50 1.50 1.50 1.50 EU 10a Other Systemically Important Institution buffer (%) 2.00 2.00 2.00 2.00 2.00 11 Combined buffer requirement (%) 5.11 5.13 5.12 5.11 5.17 EU 11a Overall capital requirements (%) 15.96 16.03 16.02 16.01 16.07 12 CET 1 available after meeting the total SREP own funds requirements (%) 7.71 8.06 8.37 8.11 7.69 Leverage ratio 13 Leverage ratio total exposure measure 1,361,684 1,327,441 1,299,655 1,276,035 1,301,804 14 Leverage ratio (%) 4.45 4.58 4.61 4.72 4.63 Additional own funds requirements to address risks of excessive leverage (as a percentage of leverage ratio total exposure amount) EU 14a Additional own funds requirements to address the risk of excessive leverage (%) 0.10 0.10 0.10 0.10 0.10 EU 14b of which: to be made up of CET 1 capital (percentage points) 0.00 0.00 0.00 0.00 0.00 EU 14c Total SREP leverage ratio requirements (%) 3.10 3.10 3.10 3.10 3.10 Leverage ratio buffer and overall leverage ratio requirement (as a percentage of total exposure measure) EU 14d Leverage ratio buffer requirement (%) 0.50 0.75 0.75 0.75 0.75 EU 14e Overall leverage ratio requirements (%) 3.60 3.85 3.85 3.85 3.85 Liquidity Coverage Ratio 15 Total high-quality liquid assets (HQLA) (Weighted value - average) 243,538 238,150 233,383 230,050 226,221 EU 16a Cash outflows - Total weighted value 245,009 238,512 237,725 234,064 229,743 EU 16b Cash inflows - Total weighted value 70,349 64,879 64,124 60,641 58,408 16 Total net cash outflows (adjusted value) 174,660 173,633 173,601 173,423 171,335 17 Liquidity coverage ratio (%) 139.47 137.22 134.67 132.65 132.03 Net Stable Funding Ratio 18 Total available stable funding 651,376 648,658 631,781 633,110 631,929 19 Total required stable funding 545,125 544,664 536,762 525,836 532,765 20 NSFR ratio (%) 119.49 119.09 117.70 120.40 118.61 ‌Key metrics of own funds and eligible liabilities‌ Article 447 (h) CRR and Article 45i(3)(a,c) BRRD EU KM2 - Key metrics - MREL and G-SII Requirement for own funds and eligible liabilities (TLAC) Minimum requirement for own funds and eligible liabilities (MREL) G-SII Requirement for own funds and eligible liabilities (TLAC) a b c d e f Mar 31, Dec 31, Mar 31, Dec 31, Sep 30, Jun 30, Mar 31, in € m. (unless stated otherwise) 2026 2025 2026 2025 2025 2025 2025 Own funds and eligible liabilities, ratios and components 1 Own funds and eligible liabilities 129,705 131,023 113,085 114,936 117,881 115,925 117,594 EU 1a Own funds and subordinated liabilities 113,085 114,936 - - - - - Total risk exposure amount of the 2 resolution group (TREA) 361,094 347,133 361,094 347,133 340,387 340,805 351,973 Own funds and eligible liabilities as 3 percentage of TREA 35.92 37.74 31.32 33.11 34.63 34.02 33.41 of which: EU 3a Own funds and subordinated liabilities 31.32 33.11 - - - - - Total exposure measure of the resolution 4 group (TEM) 1,361,684 1,327,441 1,361,684 1,327,441 1,299,655 1,276,035 1,301,804 Own funds and eligible liabilities as 5 percentage of TEM 9.53 9.87 8.30 8.66 9.07 9.08 9.03 EU 5a of which: Own funds and subordinated liabilities Does the subordination exemption in Article 72b(4) of the CRR apply? (5% 8.30 8.66 - - - - - 6a exemption) - - no no no no no Pro-memo item - Aggregate amount of permitted non-subordinated eligible liabilities instruments if the subordination discretion as per Article 72b(3) CRR is 6b applied (max 3.5% exemption) - - 0 0 0 0 0 Pro-memo item: If a capped subordination exemption applies under Article 72b (3) CRR, the amount of funding issued that ranks pari passu with excluded liabilities and that is recognized under row 1, divided by funding issued that ranks pari passu with excluded Liabilities and that would be recognized under row 1 if no cap was 6c applied (%) - - 0 0 0 0 0 Minimum requirement for own funds and eligible liabilities (MREL) MREL requirement expressed as EU 7 percentage of the TREA 31.09 31.11 - - - - - of which: to be met with own funds or EU 8 subordinated liabilities 24.92 24.94 - - - - - MREL requirement expressed as EU 9 percentage of TEM 7.03 7.03 - - - - - EU 10 of which: to be met with own funds or subordinated liabilities 7.03 7.03 - - - - - As of March 31, 2026 the MREL ratio was 35.92% of Total Risk Exposure Amount (TREA) compared to a requirement of 31.09% of TREA including a 5.11% combined buffer requirement, equaling a surplus of € 17.4 billion above the bank's MREL requirement. As of March 31, 2026 the subordinated MREL ratio was 8.30% of Total Exposure Measure (TEM) compared to a requirement of 7.03% of TEM. The subordinated MREL surplus is € 17.4bn. As of March 31, 2026 the TLAC ratio was 31.32% of TREA compared to a requirement of 23.11% including a 5.11% combined buffer requirement, resulting in a surplus of € 29.6 billion. TLAC was 8.30% of TEM compared to a requirement of 6.75%, which corresponds to a surplus of € 21.2 billion. Capital requirements ‌Overview of RWA and capital requirements Article 438 (d) CRR The table below shows the composition of RWA by risk types and model approaches compared to the previous quarter end. It also shows the corresponding minimum capital requirements, which is derived by multiplying the respective RWA by an 8% capital ratio. EU OV1 - Overview of RWA Mar 31, 2026 Dec 31, 2025 a c1 b c2 Minimum Minimum capital capital in € m. RWA requirements RWA requirements 1 Credit risk (excluding CCR) 213,102 17,048 207,019 16,562 of which: 2 The standardized approach (SA) 43,765 3,501 42,116 3,369 3 The foundation IRB (FIRB) approach 60,267 4,821 56,105 4,488 4 Slotting approach 202 16 200 16 EU 4a Equities under the simple riskweighted approach 0 0 0 0 5 The advanced IRB (AIRB) approach 108,869 8,710 108,598 8,688 6 Counterparty credit risk (CCR) 25,648 2,052 21,720 1,738 of which: 7 The standardized approach 2,814 225 1,567 125 8 Internal model method (IMM) 15,113 1,209 14,635 1,171 EU 8a Exposure to a CCP 4,107 329 3,442 275 9 Other CCR 3,614 289 2,076 166 10 Credit Valuation Adjustment (CVA) 1 3,003 240 2,591 207 of which: EU 10a The standardized approach (SA) 2 0 0 0 0 EU 10b The basic approach (F-BA and R-BA) 2,997 240 2,584 207 EU 10c The simplified approach 0 0 0 0 15 Settlement risk 71 6 135 11 16 Securitization exposures in the banking book (after the cap) 17,238 1,379 17,787 1,423 of which: 17 SEC-IRBA approach 9,239 739 9,580 766 18 SEC-ERBA (including IAA) 450 36 583 47 19 SEC-SA approach 6,779 542 6,613 529 EU 19a 1250% / deduction 770 62 1,011 81 20 Position, foreign exchange and commodities risks (Market risk) 23,152 1,852 21,050 1,684 of which: Standardized approach 4,712 377 3,583 287 IMA 18,440 1,475 17,467 1,397 21 Alternative standardized approach (A-SA)³ N/M N/M N/M N/M EU 21a Simplified standardized approach (S-SA)³ N/M N/M N/M N/M 22 Alternative Internal Models Approach (A-IMA)³ N/M N/M N/M N/M EU 22a Large exposures 0 0 0 0 23 Reclassifications between trading and non-trading books 0 0 0 0 24 Operational risk 65,252 5,220 63,183 5,055 EU 24a Exposures to crypto-assets 0 0 0 0 25 Amounts below the thresholds for deduction (subject to 250% risk weight) 13,627 1,090 13,648 1,092 26 Output floor applied (%) 55.00 - 50.00 - 27 Floor adjustment (before application of transitional cap) 0 - 0 - 28 Floor adjustment (after application of transitional cap) 0 - 0 - 29 Total 361,094 28,888 347,133 27,771 1 As of March 31, 2026, total Credit Valuation Adjustment (CVA) RWA includes € 6 million (December 31, 2025: € 7 million) from simplified treatment for derivative positions in collective investment undertakings which are not listed separately in this table 2 As Deutsche Bank does not have any credit valuation adjustment RWA under the standardized approach, template EU CVA4 - RWEA flow statements of credit valuation adjustment risk under the Standardized Approach will not be shown in this report 3 On the basis of Article 461a CRR the European Commission decided to postpone the application of the Fundamental Review of the Trading Book (FRTB) for market risk to January 1, 2027; therefore, the new models market risk RWA and respective reporting templates are not yet applicable As of March 31, 2026, RWA were € 361.1 billion compared to € 347.1 billion as of December 31, 2025. The increase of € 14.0 billion was primarily driven by credit risk RWA (excluding counterparty credit risk), RWA for counterparty credit risk RWA (CCR), market risk RWA, operational risk RWA and RWA for Credit Valuation Adjustment (CVA), which was partly offset by a decrease in RWA for securitization exposures in the banking book (after the cap). Credit risk RWA (excluding counterparty credit risk) increased by € 6.1 billion, mainly driven by an increase of € 4.4 billion for RWA under the internal rating-based approach, which is mainly due to business growth and impacts in relation to model parameters and foreign exchange movements. Credit risk RWA under the standardized approach increased by € 1.6 billion. This increase was driven by higher exposures in "Corporates" and "Other items", as well as higher exposures along with higher risk weights in "Equity". These effects were partly offset by both lower exposures and risk weights in "Collective investment undertakings" and by decreased exposures in "Retail". Counterparty credit risk RWA increased by € 3.9 billion, mainly driven by an increase of € 1.5 billion in other CCR, reflecting increased securities financing transaction (SFT) exposures under the financial collateral comprehensive method. In addition, counterparty credit risk under the standardized approach increased by € 1.2 billion, predominantly reflecting higher exposures for derivatives. Furthermore, counterparty credit risk RWA increased by € 665 million mainly due to higher exposures in non-qualifying CCPs. Additionally, counterparty credit risk under the internal model method increased by € 478 million, predominantly reflecting higher exposures for SFTs and derivatives. Deutsche Bank´s operational risk RWA increased by € 2.1 billion, driven by the update to audited financials applying the final regulatory guidance for the business indicator. Market risk RWA increased by € 2.1 billion, primarily driven by the incremental risk charge component mainly reflecting an increase in inventory in Fixed Income and Currencies business. Furthermore, market risk RWA increased in the standardized approach component for securitization positions in the trading book mainly due to increased inventory in Fixed Income and Currencies business. Credit valuation adjustment RWA increased by € 412 million, primarily driven by an increase in exposures and decrease in hedging activities. The aforementioned increases were partly offset by decreased RWA for securitization exposures in the banking book (after the cap) of € 549 million. This was mainly driven by lower exposures calculated under the Securitization Internal Ratings-Based Approach (SEC-IRBA), a reduction in exposures subject to a 1,250% risk weight, and lower exposures under the Securitization External Rating-Based Approach (SEC-ERBA). The decrease was partly offset by higher exposures under the Securitization Standardized Approach (SEC-SA). The movements of RWA for credit and market risk are discussed below in sections "Development of credit risk RWA", "CCR exposures development" and "Development of market risk RWA". Effect on own funds and RWA that results from applying capital floors and not deducting items from own funds Article 438 (da) CRR The table below shows the composition of RWA by risk type and separated by modelled approaches for which Deutsche Bank has supervisory approval and where the standardized approaches are used. In addition, the table provides an overview of RWA calculated using the full standardized approach and RWA that is the base of the output floor. RWA using the full standardized approach do not reflect rules and regulations applicable at the reporting date, but instead they are based on CRR3 rules applicable in 2033 assuming no change in regulation between the reporting date and January 2033. Moreover, the disclosure is based on a static balance sheet assumption which is a hypothetical scenario. Deutsche Bank will adapt its balance sheet over time and undertake mitigating actions with respect to RWA under the standardized approach to minimize future output floor impacts. As of March 31, 2026, the output floor for RWA according to CRR3 has no impact on Deutsche Bank´s RWA. As of January 1, 2025, Deutsche Bank decided to adopt the rule to deduct exposures for collective investment undertakings that are assigned to a risk weight of 1,250% from CET1 capital. As of March 31, 2026, this decision reduces the CET1 capital by € 211 million and RWA by € 2.6 billion. EU CMS1 - Comparison of modelled and standardized risk weighted exposure amounts at risk level Mar 31, 2026 a b c d EU d in € m. RWEAs for modelled approaches that banks have supervisory approval to use RWEAs for portfolios where standardized approaches are used Total actual RWEAs (a + b) RWEAs calculated using full standardized approach RWEAs that is the base of the output floor Credit risk (excluding counterparty credit risk) 169,337 57,392 226,729 408,982 343,708 Counterparty credit risk 18,342 7,306 25,648 89,679 74,241 Credit valuation adjustment - 3,003 3,003 3,003 3,003 Securitization exposures in the banking book 9,239 7,999 17,238 35,082 17,538 Market risk 18,382 4,771 23,152 67,558 67,558 Operational risk 65,252 65,252 65,252 65,252 Other risk weighted exposure amounts - 71 71 71 71 Total 215,300 145,794 361,094 669,628 571,372 Dec 31, 2025 a b c d EU d in € m. RWEAs for modelled approaches that banks have supervisory approval to use RWEAs for portfolios where standardized approaches are used Total actual RWEAs (a + b) RWEAs calculated using full standardized approach RWEAs that is the base of the output floor Credit risk (excluding counterparty credit risk) 164,903 55,764 220,667 400,239 336,932 Counterparty credit risk 16,728 4,992 21,720 83,199 68,283 Credit valuation adjustment - 2,591 2,591 2,591 2,591 Securitization exposures in the banking book 9,580 8,207 17,787 35,704 17,904 Market risk 17,375 3,674 21,050 55,967 55,967 Operational risk - 63,183 63,183 63,183 63,183 Other risk weighted exposure amounts - 135 135 135 135 Total 208,587 138,546 347,133 641,017 544,994 As of March 31, 2026, RWA calculated using full standardized approach amounted to € 669.6 billion compared to € 641.0 billion as of December 31, 2025. The increase of € 28.6 billion was primarily driven by market risk, credit risk, counterparty credit risk and operational risk, partly offset by securitization exposures in the banking book. Deutsche Bank's market risk increased by € 11.7 billion, primarily driven by a higher credit inventory with increases in the Fixed Income and Currencies business from typical seasonal low year-end levels in both default risk charge and credit component of sensitivities-based approach measure. In addition, elevated volatility levels at the end of March 2026 contributed to the overall development. The increase of € 8.7 billion in credit risk (excluding counterparty credit risk) was due to business growth as well as foreign exchange movements. The increase in counterparty credit risk of € 6.5 billion was mainly driven by increased exposures for SFTs and derivatives which for the purpose of the output floor are calculated completely under the standardized approach for counterparty credit risk (SA-CCR) and supervisory volatility adjustment approach respectively. These increases were partly offset by securitization exposures in the banking book by € 622 million, mainly reflecting impacts from reduced exposures. The table below shows credit risk (excluding counterparty credit risk) RWA broken down by regulatory exposure classes as per Article 112 CRR. For this purpose, RWA which are calculated with the internal rating-based (IRB) approach and assigned to exposure classes as per Article 147 CRR need to be reported in accordance with exposure classes as per Article 112 CRR for the standardized approach. The IRB exposure classes which are most affected by this reclassification are "Retail" and "Corporates". In exposure class "Retail" the movements are predominantly to "Secured by immovable properties and ADC" (Acquisition, Development and Construction). Main movements in exposure class "Corporates" can be observed to "Secured by immovable properties and ADC" and "Defaulted exposures". The table shows in the first two columns the credit risk (excluding counterparty credit risk) RWA for which Deutsche Bank is using a supervisory approved model and the respective RWA as if computed by standardized approach. Additionally, the total actual RWA are reported, which include the RWA calculated in the IRB approach and the standardized approach. Furthermore, the table shows the RWA calculated using the full standardized approach and RWA that is the base for the output floor. RWA using the full standardized approach do not reflect rules and regulations applicable at the reporting date, but instead they are based on CRR3 rules applicable in 2033 assuming no change in regulation between the reporting date and January 2033. Moreover, the disclosure is based on a static balance sheet assumption which is a hypothetical scenario. Deutsche Bank will adapt its balance sheet over time and undertake mitigating actions with respect to RWA under the standardized approach to minimize future output floor impacts. EU CMS2 - Comparison of modelled and standardized risk weighted exposure amounts for credit risk at asset class level Mar 31, 2026 a b c d EU d RWEAs for modelled RWEAs for column (a) if RWEAs approaches that banks have supervisory re-computed using the standardized Total actual calculated using full standardized RWEAs that is the base of the output in € m. approval to use approach RWEAs approach floor 1 Central governments and central banks 4 0 14,908 14,904 14,904 EU 1a Regional governments or local authorities 0 0 114 114 114 EU 1b Public sector entities 103 128 122 147 147 EU 1c Categorized as Multilateral Development Banks in SA 0 0 0 0 0 EU 1d Categorized as International organizations in SA 0 0 0 0 0 2 Institutions 5,801 8,613 6,381 9,193 9,193 3 Equity 179 179 7,902 7,902 7,902 5 Corporates 89,821 164,916 104,348 229,263 179,443 of which 5.1 F-IRB is applied 54,237 90,642 54,237 110,539 90,642 5.2 A-IRB is applied 57,842 123,713 57,842 153,790 123,713 EU 5a Corporates - General 82,009 142,806 96,529 204,584 157,325 EU 5b Corporates - Specialized lending 7,812 22,111 7,819 24,679 22,118 EU 5c Corporates - Purchased receivables 4,330 10,615 4,330 14,313 10,615 6 Retail 17,279 19,466 17,887 20,074 20,074 of which: 6.1 Qualifying revolving 1,454 1,094 1,454 1,094 1,094 EU 6.1a Purchased receivables 16 38 16 38 38 EU 6.1b Other 15,809 18,334 16,417 18,942 18,942 6.2 Secured by residential real estate 30,788 34,524 31,180 49,671 34,916 EU 7a Categorized as secured by immovable properties and ADC exposures in SA 47,456 78,616 49,407 96,021 80,567 EU 7b Collective investment undertakings (CIU) 344 594 6,730 6,980 6,979 EU 7c Categorized as exposures in default in SA 8,350 13,803 9,266 14,720 14,720 EU 7d Categorized as subordinated debt exposures in SA 0 0 0 0 0 EU 7e Categorized as covered bonds in SA 0 0 0 0 0 EU 7f Categorized as claims on institutions and corporates with a short-term credit assessment in SA 0 0 0 0 0 8 Other non-credit obligation assets 0 0 9,665 9,665 9,665 9 Total 169,337 286,316 226,729 408,982 343,708

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