June 8, 2016

Deutsche Asset Management: a message from John Cryan

John Cryan, Deutsche Bank CEO, sent out the following message to all Deutsche Asset Management employees on June 8, 2016

Dear Colleagues,

In mid-April I wrote to you about Quintin Price, Head of Deutsche Asset Management, who had informed us that he required a period of medical leave.

After consulting further with his doctors since that time, Quintin has now informed us that he will be unable to reassume his role and return to Deutsche Bank.

Quintin remains focused on his treatment plan, and I know that you will join me in wishing him well and in thanking him for his contributions since joining us in 2015.

The Supervisory Board has begun to search for a successor to lead Deutsche Asset Management. In the meantime, Jon Eilbeck, Global Chief Operating Officer and Regional Head for Asia Pacific at Deutsche Asset Management, will continue to lead operational responsibilities for the business, and I will continue to represent Asset Management on the Management Board in accordance with the Bank’s business allocation plan.

I am grateful for your ongoing commitment and focus during this period of transition.

Yours sincerely,

John Cryan