January 31, 2011

Deutsche Bank provides preliminary update on fourth quarter 2010 results

Deutsche Bank AG (XETRA: DBKGn.DE / NYSE: DB) today announced, on a preliminary and unaudited basis, key elements of its fourth quarter 2010 financial performance.

Deutsche Bank expects increased total net revenues of approximately EUR 7.4 billion for the fourth quarter (4Q2009: EUR 5.5 billon). Due to first time consolidation of Deutsche Postbank AG and acquisition-related costs as well as accelerated investments made to realign the bank, i.e. integration measures in the Corporate and Investment Bank (CIB) and Sal. Oppenheim Group, Deutsche Bank’s noninterest expenses increased to EUR 6.3 billion (4Q2009: EUR 4.2 billion).

As a result, Deutsche Bank currently anticipates an income before income taxes for the fourth quarter 2010 of approximately EUR 700 million (4Q2009: EUR 756 million), and a net income of approximately EUR 600 million (4Q2009: EUR 1.3 billion, reflecting special tax items).

Deutsche Bank’s fourth-quarter and full-year 2010 results will be published as scheduled on 3 February 2011 with the Annual Press Conference in Frankfurt and an Analyst Call taking place on the same day.

Deutsche Bank AG
Taunusanlage 12
60325 Frankfurt am Main
ISIN: DE0005140008
WKN: 514000

Listed: Regulated market in Berlin-Bremen, Duesseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich und Stuttgart; EUREX; NYSE

The International Securities Identification Numbers (ISINs) of further financial instruments issued by Deutsche Bank AG, and admitted to trading on a domestic organized market or for which such admission has been applied for, are listed in the attached PDFs.