12.05.2021 AGM approves dividend of 26 euro cents per share

• Dr. Bräunig, Dr. Duhnkrack, Kollmann and Puhl re-elected as Supervisory Board members - Klöß-Braekler and Storr to join the Supervisory Board

Munich, 12 May 2021 - At the virtual Annual General Meeting of Deutsche Pfandbriefbank AG (pbb) on Wednesday, shareholders followed the proposals of the Management Board and Supervisory Board in all respects.

In accordance with the resolution of the Annual General Meeting, pbb will pay its shareholders a dividend of 26 euro cents per dividend-bearing share, thus achieving a payout ratio of 35% based on IFRS consolidated net income after tax and AT1 coupon. The payout is in line with the ECB's current recommendation, according to which the Bank's CET1 ratio should not fall by more than 20 basis points as a result of the dividend distribution. This recommendation remains in force until 30 September 2021. Should the ECB reach a more favourable assessment of the market thereafter, allowing distributions to be increased, pbb will review the possibility of a further dividend distribution.

This year's agenda also included the election of new shareholder representatives to the Supervisory Board. Dr. Günther Bräunig, Dr. Thomas Duhnkrack, Dagmar Kollmann, and Oliver Puhl were re-elected. Susanne Klöß-Braekler and Hanns-Peter Storr were elected as new members. At the inaugural meeting, the members of the Supervisory Board re-elected Dr. Günther Bräunig as Chairman and Dagmar Kollmann as his Deputy.

The presence amounted to 47.5% of the share capital.