Deutsche Bank AG to issue Additional Tier 1 capital instruments

Deutsche Bank AG (XETRA: DBKGn.DE / NYSE: DB) today announced its intention to issue securities that qualify as Additional Tier 1 capital instruments. The issuance is expected to be of benchmark size.

This transaction further strengthens Deutsche Bank's capital position, thereby contributing to the bank's deployment of capital in support of clients. The issuance partly offsets the impact of certain regulatory changes anticipated during the second quarter of 2021. It also supports achievement of Deutsche Bank's target of a leverage ratio of 4.5% on a fully loaded basis.

Issuance of these securities is covered by the authorization granted by the Annual General Meeting in 2018. The denominations of the securities will be EUR 200,000. Deutsche Bank AG will act as sole bookrunner for the placement.

The securities of Deutsche Bank AG mentioned in this release have not been registered under the Securities Act of 1933, as amended ('Securities Act') and will be issued under Regulation S of the Securities Act only and may not be offered, sold or delivered within the United States absent registration under the Securities Act or an exemption from registration requirements.

About Deutsche Bank

Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.

This release contains forward-looking statements. Forward-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 based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 21 March 2021 under the heading 'Risk Factors'. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir.