April 15, 2013

Deutsche Bank publishes Annual Report 2012

Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) published its annual report for 2012 today. It consists of two sections: the Annual Review and the Financial Report. The Annual Review presents the bank’s corporate profile and corporate divisions, the development of the share as well as the bank’s staff and its corporate responsibility activities. The Financial Report contains the audited Consolidated Financial Statements of Deutsche Bank for the 2012 financial year, prepared in accordance with International Financial Reporting Standards (IFRS).

Juergen Fitschen and Anshu Jain, Co-Chairmen of the Management Board and the Group Executive Committee, write in their letter to the shareholders: “2012 was a very important year for Deutsche Bank. During this year, we developed a strategy to position Deutsche Bank as a long-term winner in the post-crisis era. As we mobilized this strategy, we took some tough but determined decisions in order to set Deutsche Bank on the right course for the future. Some of these decisions had a substantial impact on our financial performance for 2012. Developments over the past year reinforce our conviction that this strategy is the right course.”

“Nonetheless, we remain concerned regarding regulation which challenges the universal banking model, or which distorts the global regulatory ‘level playing field’ in a way that disadvantages European banks. We are convinced that this model serves our clients most effectively, offering them an integrated range of products and services wherever in the world they need us.”

In its Financial Report, the bank also presents an extensive outlook (pages 233-241): Over the next two years, the banking industry in most of the industrialized countries may see a further normalization of its business environment, with only moderate economic growth as well as significantly more expansive and rigorous regulation. In Europe, 2013 could bring about a turning point for the better for banks, following a period of multiple burdens in previous years caused by the financial, economic and debt crises and the adjustments necessary to comply
with a stricter regulatory environment.

Deutsche Bank reaffirms its commitment to the universal banking model and to its four business segments. Additionally, in order to accelerate the deleveraging activities the bank set up a dedicated Non-Core Operations Unit in 2012. Given the excellent progress on de-risking, the bank has increased its fully loaded Basel 3 Core Tier 1 target ratio to 8.5 % as of March 31, 2013, and the bank continues
to expect more than 10 % as of March 31, 2015.

As stated in the Financial Report (page 217), the compensation for the members of the Management Board for their service in the financial year 2012, determined by the Supervisory Board, amounted to € 26.3 million (2011: € 40.2 million) in total. Thereof, € 9.6 million (2011: € 8.6 million) was for base salaries, € 15.5 million (2011: € 30.9 million) for performance-related components with long-term incentives and € 1.3 million (2011: € 0.7 million) for performance-related components without long-term incentives.

Corporate Responsibility

As part of the annual reporting, Deutsche Bank also published its new Corporate Responsibility (CR) Report as well as the Corporate Responsibility Portal today. It is a testimony about how the bank incorporates economic, ecological and social aspects in its core business and invests in societies around the world. The objective is to combine the bank's performance culture with a culture of responsibility and to create value for all stakeholders - clients, employees, shareholders and society at large. Congruently with the report, the new internet portal on Corporate Responsibility will also be launched.

The Annual Review and Financial Report 2012 can be downloaded from www.deutsche-bank.com/reports. The new Corporate Responsibility Report is available for download via db.com/responsibility.

Also available on this website: the final version of the Financial Data Supplement 4Q2012. The report on Form 20-F, which will be submitted to the U.S. Securities and Exchange Commission (SEC) over the course of today, will also be made available following submission (in English only) on the website specified above.

Printed copies of the complete audited annual report can be ordered free of charge from: www.deutsche-bank.de/ir/en/content/order_service.htm and will be dispatched starting beginning of May 2013.

For further information, please call:

Deutsche Bank AG    
Press & Media Relations   
Christian Streckert
Phone: +49 (0) 69 910 38079 
E-Mail: christian.streckert@db.com

Investor Relations
+49 69 910 35395 (Frankfurt) 
+1 212 250 1540 (New York) 



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 15 April 2013 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir.


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