Last Price Day Change Open Price Day Range 52-Week Range Proj. Yield Market Cap Volume Avg Vol. Forward P/E P/B P/S P/CF

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1 Page 1 of 5 Morningstar Analyst Rating. Last Price Day Change Open Price Day Range 52-Week Range Proj. Yield Market Cap Volume Avg Vol. Forward P/E P/B P/S P/CF $ ] % $ bil 14, mil Stock Price XNYS:DB: % 2018 Morningstar s Take In early March 2017, Deutsche Bank announced changes to its 2020 Business Strategy. The bank let go of its plans for selling Postbank and instead will look to integrate the bank into... Key Stats Stock Ind Avg Price/Earnings TTM 36.7 Price/Book Price/Sales TTM Rev Growth (3 Yr Avg) Net Income Growth (3 Yr Avg) Operating Margin % TTM 0.8 Net Margin % TTM ROA TTM 0.1 ROE TTM Debt/Equity Financials Fair Value Estimate $ Consider Buying $ 9.60 Consider Selling $ Fair Value Uncertainty Economic Moat None Stewardship Poor Growth V Profitability B Morningstar Credit Rating Relative to Industry - Avg + Annual Quarterly Income Statement Revenue 30,014 33,524 31,949 6,776 7,493 Net Interest Income 14,707 15,880 14,369 3,387 3,525 Net Income -1,402-6,794 1, Earnings Per Share Shares Outstanding 1,607 1,607 1,470 2,152 1,643 Dividends Declared Date 16/03/2017 Ex-Dividend Date 19/05/2017 Latest Indicated Dividend Amount 0.19 Projected Yield % Recent Dividends & Type Amount Splits 05/19/2017 Cash Dividends /22/2015 Cash Dividends /23/2014 Cash Dividends /24/2013 Cash Dividends Competitors Name Price % Chg TTM Sales $ mil Deutsche Bank AG $ ] 33,315 BNP Paribas ADR $ ] 85,566 BNP Paribas $ ] 85,566 Lloyds Banking Group PLC $ ] 54,919 Sberbank of Russia PJSC ADR $ [ 30,999 Sberbank of Russia PJSC $ ,999 Recommendations Current 2.0 Total Analysts: Buy Hold Sell Ownership Fund Owners Star Rating % Shares Held % Total Assets FaithLife Int Equity QQQ (Indexed) BMO MSCI EAFE ETF QQQ ishares Core MSCI EAFE IMI QQQQ HSBC International Equity Pool Russell Global Equity Balance Sheet Net Loans 408, , , , ,979 Total Assets 1,590,546 1,629,130 1,708,703 1,521,454 1,688,951 Deposits 550, , , , ,609 Total Liabilities 1,526,044 1,566,452 1,640,352 1,455,778 1,622,508 Stockholders' Equity 64,502 62,678 68,351 65,676 66,443 Cash Flow Cash From Operations 70,610 67, ,952-20,826 Cash From Investing 11,239-8,242-12,824 1,187 5,095 Cash From Financing -1,649-5,583 8, In millions except "EPS". Currency in EUR.

2 Page 2 of 5 Industry Classification NAICS () SIC ISIC Other Monetary Intermediation (6419) Operation Details Fiscal Year Ends CIK Year Established Employees (31/12/2016) Full Time Part Time Auditor (31/12/2016) KPMG AG Legal Advisor () Key Executives Christian Sewing/Member of the Management Board and Chief Financial Officer; Stuart Wilson Lewis/Member of the Management Board Company Profile Deutsche Bank AG is a leading private bank. It offers investment, financial and related products and services to private individuals, corporate entities and institutional clients around the world. 30-day Avg Volume Market Cap Net Income Sales Sector Industry Stock Style Direct Investment Dividend Reinvestment 3.9Mil 38.3Bil Mil 33.3Bil Financial Services Banks - Regional - Europe 4 Large Core No No

3 Page 3 of 5 Morningstar Rating Market Cap $Mil Net Income $Mil P/S P/B P/E Dividend Yield% 5 Yr Rev CAGR% Med Oper. Margin% Interest Coverage Deutsche Bank AG (EUR) QQQ 38, BNP Paribas (USD,EUR) QQQ 97,237 7, BNP Paribas (USD,EUR) 97,237 7, Sberbank of Russia PJSC (USD,RUB) 90, , Sberbank of Russia PJSC (USD,RUB) 90, , Lloyds Banking Group PLC (USD,GBP) 66,641 3, Lloyds Banking Group PLC (USD,GBP) QQQ 66,641 3, Intesa Sanpaolo (USD,EUR) 56,760 6, Intesa Sanpaolo (USD,EUR) QQ 56,760 6, Intesa Sanpaolo (USD,EUR) 56,760 6, Credit Agricole SA (USD,EUR) 50,513 3, Credit Agricole SA (USD,EUR) 50,513 3, Nordea Bank AB (USD,EUR) 49,800 3, Nordea Bank AB (USD,EUR) 49,800 3, UniCredit SpA (USD,EUR) 43,779-8, UniCredit SpA (USD,EUR) 43,779-8, Societe Generale SA (USD,EUR) QQQ 43,110 3, Societe Generale SA (USD,EUR) 43,110 3, KBC Group SA/NV (USD,EUR) 36,644 2, KBC Group SA/NV (USD,EUR) 36,644 2, Danske Bank A/S (USD,DKK) 34,931 20, Danske Bank A/S (USD,DKK) 34,931 20, DNB ASA (USD,NOK) 31,471 20, DNB ASA (USD,NOK) 31,471 20, Swedbank AB (USD,SEK) 27,313 18, Swedbank AB (USD,SEK) 27,313 18, Natixis (USD,EUR) 26,169 1, Natixis (USD,EUR) 26,169 1, Skandinaviska Enskilda Banken AB (USD,SEK) 25,822 17, Skandinaviska Enskilda Banken AB (USD,SEK) 25,822 17, Commerzbank AG (USD,EUR) 19, Commerzbank AG (USD,EUR) 19, Erste Group Bank AG. (USD,EUR) 18,917 1, Erste Group Bank AG. (USD,EUR) 18,917 1, AIB Group PLC (USD,EUR) 17,646 1, PKO Bank Polski SA (USD,PLN) 15,911 2, Bankia SA (USD,EUR) 14, Raiffeisen Bank International AG (USD,EUR) 12, Raiffeisen Bank International AG (USD,EUR) 12, Banco de Sabadell S.A (USD,EUR) 12, Banco de Sabadell S.A (USD,EUR) 12, Turkiye Garanti Bankasi AS (USD,TRY) 11,870 5, OTP Bank PLC (USD,HUF) 11, , OTP Bank PLC (USD,HUF) 11, , Turkiye Garanti Bankasi AS (USD,TRY) 11,667 5, Turkiye Garanti Bankasi AS (USD,TRY) 11,667 5, Akbank TAS (USD,TRY) 10,401 5, Bank Pekao SA (USD,PLN) 10,217 1, Bank Pekao SA (USD,PLN) 10,217 1, Mediobanca SpA (USD,EUR) 9, Mediobanca SpA (USD,EUR) 9, D/E

4 Page 4 of 5 Bank Pekao SA (USD,PLN) 9,855 1, Bank of Ireland Group PLC (USD,EUR) 9, Bankinter SA (USD,EUR) 8, Bankinter SA (USD,EUR) 8, Komercni Banka AS (USD,CZK) 8,147 14, Banque Cantonale Vaudoise (USD,CHF) 6, Banca Mediolanum (USD,EUR) 6, Banca Mediolanum (USD,EUR) 6, Banco Comercial Portugues SA (USD,EUR) 5, Banco Comercial Portugues SA (USD,EUR) 5, Unione di Banche Italiane SpA (USD,EUR) 5, Banca Monte dei Paschi di Siena (USD,EUR) 5,057-5, Banca Monte dei Paschi di Siena (USD,EUR) 5,057-5, Dexia SA (USD,EUR) 5, Dexia SA (USD,EUR) 5, Unione di Banche Italiane SpA (USD,EUR) 5, Banco BPM SpA (USD,EUR) 4,919 1, Jyske Bank A/S (USD,DKK) 4,903 3, Jyske Bank A/S (USD,DKK) 4,893 3, Turkiye Vakiflar Bankasi TAO (USD,TRY) 4,380 3, Metro Bank PLC (USD,GBP) 4, CYBG PLC (USD,GBP) 4, CYBG PLC (USD,GBP) 3, Alpha Bank AE (USD,EUR) 3, Alpha Bank AE (USD,EUR) 3, Turkiye Halk Bankasi AS (USD,TRY) 3,379 3, SpareBank 1 SR Bank ASA (USD,NOK) 2,804 1, Aareal Bank AG (USD,EUR) 2, Aareal Bank AG (USD,EUR) 2, Sydbank A/S (USD,DKK) 2,689 1, BPER Banca SpA (USD,EUR) 2, Eurobank Ergasias SA (USD,EUR) 2, Eurobank Ergasias SA (USD,EUR) 2, Norwegian Finans Holding ASA (USD,NOK) 2,217 1, Banco BPI SA (USD,EUR) 2, Moneta Money Bank AS (USD,CZK) 1,945 3, Piraeus Bank SA (USD,EUR) 1, Piraeus Bank SA (USD,EUR) 1, BGEO Group PLC (USD,GEL) 1, Virgin Money Holdings (UK) PLC (USD,GBP) 1, Liberbank SA (USD,EUR) 1, Banque Nationale de Belgique SA (USD,EUR) 1, Onesavings Bank PLC (USD,GBP) 1, Bank of Cyprus Holdings PLC (USD,EUR) 1, Van Lanschot Kempen NV (USD,EUR) 1, SpareBank 1 SMN (USD,NOK) 1,282 1, Permanent TSB Group Holdings PLC (USD,EUR) 1, Permanent TSB Group Holdings PLC (USD,EUR) 1, Sbanken ASA (USD,NOK) 1, VP Bank AG (USD,CHF) Schweizerische Nationalbank (USD,CHF) , Sparebanken Vest AS (USD,NOK) 388 1, Vozrozhdenie Bank (USD,RUB) 223 3,

5 Page 5 of 5 Sparebanken Øst (USD,NOK) MyBucks SA (USD,EUR) Caribbean Investment Holdings Ltd (USD) Banco Espirito Santo (USD,EUR) 0-2, Banco Espirito Santo (USD,EUR) 0-2, Espirito Santo Financial Group SA (USD,EUR) Haci Omer Sabanci Holding AS (USD,TRY) 3, Bank J Safra Sarasin Ltd (USD,CHF) Finansbank AS (USD,TRY) 1, Credit Agricole Alpes Provence (USD,EUR) Asya Katilim Bankasi AS (USD,TRY) Yapi Ve Kredi Bankasi AS (USD,TRY) 2, Espirito Santo Financial Group SA (USD,EUR) Turkiye Is Bankasi AS (USD,TRY) 6, Bank of Ireland Group PLC (USD,EUR) Edmond de Rothschild (Suisse) SA (USD,CHF) Deutsche Pfandbriefbank AG (USD,EUR) Bawag Group AG (USD,EUR) Avanza Bank AB (USD,SEK) Banco BPM SpA (USD,EUR) 1, Komercni Banka AS (USD,CZK) 14, SpareBank 1 Ostlandet (USD,NOK) 1, TSB Banking Group PLC (USD,GBP) FinecoBank SpA (USD,EUR) Skandinaviska Enskilda Banken AB (USD,SEK) 17, ING Bank Slaski SA (USD,PLN) 1, FinecoBank SpA (USD,EUR) Veneto Banca SpA Bank Millennium SA (USD,PLN) UniCredit SpA (USD,EUR) -8, Bank Handlowy w Warszawie SA (USD,PLN) Bank Zachodni WBK SA (USD,PLN) 2, Haci Omer Sabanci Holding AS (USD,TRY) 3, Megabank JSC (USD,UAH) Banco Popular North America Inc Bankia SA (USD,EUR) Turkiye Sinai Kalkinma Bankasi AS (USD,TRY) Sekerbank TAS (USD,TRY) BNP Paribas (USD,EUR) 7, mbank SA (USD,PLN) 1, Industry Average 17,750 14,

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