Deutsche Bank : General Meeting 2020 Statements as of May 15, 2020

Deutsche Bank

General Meeting 2020

 Statements

As of Mai 15, 2020

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Due to the concept of the virtual General Meeting taking place this year with the exercise of voting rights only by means of absentee voting or by proxy and without electronic participation of shareholders, shareholders will not be able to comment on the agenda at the General Meeting.

However, shareholders will be given the opportunity to submit statements relating to the agenda of the General Meeting for publication by the company on the company's website before the General Meeting.

The statements from shareholders currently submitted to us are presented below.

The statements are the authors' views as notified to us. We have also placed assertions of fact in the Inter- net without changing or verifying them.

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Statements

Shareholder Peter Schmidt

The members of the Management Boards and the Supervisory Boards of Deutsche Bank and its subsidiaries are also remunerated in amounts that, from the perspective of the general public, are excessive and not plausibly linked to performance, particularly in light of the significant responsibilities they are expected to live up to, although it is not always readily apparent that they manage to do so. Setting aside the argument of customary remuneration and an associated need to retain high-achieving employees who are dedicated to the Company throughout other levels of the hierarchy and management, it is not necessarily evident that there is an immediately understandable relationship. This situation, this negative image is magnified by the fact that/when this remuneration is paid to and claimed by the relevant persons even when the Company has "set itself apart" and/or is preoccupied with illegal, irresponsible conduct that harms business, employees and shareholders. In this connection, it must also be feared that highly remunerated supervisory duties have not been and are not being sufficiently performed - for whatever reason.

In light of this situation, the significant restructuring measures, a drastic staff reduction - albeit one that is mitigated by severance packages - and against the current backdrop of the coronavirus pandemic, the rhetorical question is permitted as to whether it would be, or rather would have been, no more than merely a positive gesture, which is desperately needed both outwardly and inwardly, to waive for 2020 a portion, possibly even a significant majority, of the relatively horrifically high remuneration, in particular bonuses, the latter especially, or to officially transfer them, or have them transferred, for a commendable purpose, which likely certainly in no way would have had, or rather would have, a detrimental impact on one's own lifestyle. It is a regrettable phenomenon and development in society that those who lead far from luxurious lives are more likely to show a commonsense immediate willingness to actively help and donate etc., whereas the other group of high earners and wealthy people tend to make their contribution to society only as a matter of exception and/or to a relatively modest extent. However, it is precisely people in prominent positions who should be expected to show exemplary social commitment, and certainly not in secret.

If it were to take active steps accordingly, leadership would make a very significant contribution to sustainably enhancing not only its own but also Deutsche Bank's reputation, both externally and internally, if not initially merely regaining it.

This is also how one can understand demands to refrain from paying out dividends in view of the coronavirus pan- demic, at least as a prerequisite for government aid. Here, however, in addition to many other aspects that need to be weighted differently, one must take into account the various reasons for share ownership, not least thanks to zero interest rates, for reasons of saving and pension security/provision, i.e. also by many small shareholders.

Shareholder Andreas Meister

To the shareholders, the Management Board and the Supervisory Board:

The current crisis created by the Covid-19 pandemic is now casting a shadow over every aspect of everyday life. It is also having an equally serious impact on the financial sector. It is difficult to predict just what the extent of the crisis will be, but as a shareholder I ask myself: is Deutsche Bank up to the challenges that lie ahead and what effect will the crisis have on the ongoing restructuring, for example? Looking at the risks that have been brewing for years from a legacy of scandalous dealings and at a 150-year-old bank wandering aimlessly through the industry landscape, like a lost child without a business model, it is hardly inappropriate to have concerns about the company's future existence. The time has come for the bank to take a much more proactive and aggressive approach to the problems than it is currently doing. As promising as the plans for restructuring and a strategic transformation from 2019 may sound, they fail to solve Deutsche Bank's core problem, which in my view is the complete and utter loss of trust on the part of clients, investors and regulators. Deutsche Bank has become a symbol of the egotistical world of bankers, whose greed drives them to abandon all morality and assessment of risk. Such problems were recognized far too late (if at all). The cover-up of losses during the financial crisis, using mirror trades to launder money in Russia, the still ongoing relationship with Donald Trump and a long list of other scandals have contributed to the bank's global unpopularity. And how is the bank to rely on the domestic market in the face of such a complete lack of confidence? The bank has lost touch with its clients and the focus on corporate sustainability rather than solely on the bottom line. The members of the Management Board and of the Supervisory Board should not be judged by how their corporate governance is reflected in the next quarterly reports, but by the change their reforms have brought about in five to ten years. The

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disaster we are facing today has its roots in the era of Edson Mitchell, Josef Ackermann and Anshu Jain. Deutsche Bank must now take the offensive so that it can in the coming years make up for the profound loss of confidence. This includes a greater media presence (by favorable reporting), commitment to issues that matter to people, such as environmental protection or digitalization, and closer local proximity to clients. Last but not least, the bank must once again live up to its name. The highest priority of the institution must be to be worthy of the name behind which an entire nation stands.

May we succeed in this endeavor.