6-K - DB - Equibles

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of January 2026

Commission File Number 1-15242

DEUTSCHE BANK CORPORATION

(Translation of Registrant’s Name Into English)

Deutsche Bank Aktiengesellschaft

Taunusanlage 12

60325 Frankfurt am Main

Germany

(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of

Form 20-F or Form 40-F: Form 20-F ☒ Form 40-F ☐

Explanatory note and Exhibits

On January 29, 2026, Deutsche Bank AG published its Media Release, Analyst Conference Call Presentation and Financial

Data Supplement, each of which relates to Deutsche Bank’s results for the quarter and year ended December 31, 2025.

For non-U.S. purposes, Deutsche Bank AG publishes such documents setting forth results prepared in accordance with

International Financial Reporting Standards (IFRS) as endorsed by the European Union, including application of portfolio fair

value hedge accounting for non-maturing deposits and fixed rate mortgages with pre-payment options (“EU IFRS”, using the

“EU carve-out”). Fair value hedge accounting under the EU carve-out is employed to minimize the accounting exposure to

both positive and negative moves in interest rates in each tenor bucket thereby reducing the volatility of reported revenue

from Treasury activities. These documents prepared using EU IFRS are attached as Exhibits 99.1 through 99.3 hereto.

For U.S. reporting purposes, Deutsche Bank AG also prepares versions of its Media Release and Financial Data

Supplement prepared in accordance with IFRS as issued by the International Accounting Standards Board (IASB), which

does not permit use of the EU carve-out (“IASB IFRS”), but which is otherwise the same as EU IFRS. The Media Release

and Financial Data Supplement prepared using IASB IFRS are attached as Exhibits 99.4 and 99.5 hereto. The impact of the

EU carve out is described in the section “Basis of Accounting” on page 11 of Exhibit 99.4 hereto.

This Report on Form 6-K contains the following exhibits:

Exhibit 99.1: Deutsche Bank AG’s Media Release, dated January 29, 2026, announcing its preliminary results for the quarter

and year ended December 31, 2025 (EU IFRS).

Exhibit 99.2: Financial Data Supplement 4Q 2025, providing details of the preliminary results (EU IFRS).

Exhibit 99.3: Presentation of Christian Sewing, Chief Executive Officer, James von Moltke, President and Chief Financial

Officer, and Raja Akram, Chief Financial Officer Designate, given at Deutsche Bank AG’s Analyst Conference Call on

January 29, 2026 (EU IFRS).

Exhibit 99.4: Deutsche Bank AG’s Media Release, dated January 29, 2026, announcing its preliminary results for the quarter

and year ended December 31, 2025 (IASB IFRS).

Exhibit 99.5: Financial Data Supplement 4Q 2025, providing details of the preliminary results (IASB IFRS).

This Report on Form 6-K and Exhibits 99.4 and 99.5 hereto are hereby incorporated by reference into Registration

Statement No. 333-278331 of Deutsche Bank AG. Exhibits 99.1 through 99.3 are not so incorporated by reference.

The results provided hereby are presented under International Financial Reporting Standards (IFRS) and are preliminary

and unaudited. Such results do not represent a full set of financial statements in accordance with IAS 1 and IFRS 1.

Therefore, they may be subject to adjustments based on the preparation of the full set of financial statements for 2025.

Forward-looking statements contain risks

This report contains forward-looking statements. Forward-looking statements are statements that are not historical facts;

they include statements about Deutsche Bank’s beliefs and expectations. Any statement in this report that states Deutsche

Bank’s intentions, beliefs, expectations or predictions (and the assumptions underlying them) is a forward-looking statement.

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 Deutsche Bank

undertakes 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

Deutsche Bank derives a substantial portion of its trading revenues, potential defaults of borrowers or trading counterparties,

the implementation of its strategic initiatives, the reliability of its risk management policies, procedures and methods, and

other risks referenced in its filings with the U.S. Securities and Exchange Commission. Such factors are described in detail

in Deutsche Bank’s 2024 Annual Report on Form 20-F filed with the SEC on March 13, 2025, under the heading “Risk

Factors.” Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/

ir.

Use of Non-GAAP Financial Measures

This document and other documents Deutsche Bank has published or may publish contain non-GAAP financial measures.

Non-GAAP financial measures are measures of its historical or future performance, financial position or cash flows that

contain adjustments that exclude or include amounts that are included or excluded, as the case may be, from the most

directly comparable measure calculated and presented in accordance with IFRS in its financial statements. Examples of its

non-GAAP financial measures, and the most directly comparable IFRS financial measures, are as follows:

Non-GAAP Financial Measure	Most Directly Comparable IFRS Financial<br><br>Measure
Profit (loss) before tax before nonoperating costs, Profit<br><br>(loss) before tax excluding specific litigation items	Profit (loss) before tax
Profit (loss) attributable to Deutsche Bank shareholders,<br><br>Profit (loss) attributable to Deutsche Bank shareholders<br><br>and additional equity components, Profit (loss) excluding<br><br>specific litigation items, Profit (loss) attributable to<br><br>Deutsche Bank shareholders excluding specific litigation<br><br>items	Profit (loss)
Net interest income in the key banking book segments	Net interest income
Revenues on a currency-adjusted basis	Net revenues
Adjusted costs, Costs on a currency-adjusted basis,<br><br>Nonoperating costs, Specific litigation items	Noninterest expenses
Cost/income ratio excluding specific litigation items	Cost/income ratio based on noninterest<br><br>expenses
Net assets (adjusted)	Total assets
Tangible shareholders’ equity, Average tangible<br><br>shareholders’ equity, Tangible book value, Average<br><br>tangible book value	Total shareholders’ equity (book value)
Post-tax return on average shareholders’ equity (based<br><br>on Profit (loss) attributable to Deutsche Bank<br><br>shareholders after AT1 coupon), Post-tax return on<br><br>average tangible shareholders’ equity (based on Profit<br><br>(loss) attributable to Deutsche Bank shareholders after<br><br>AT1 coupon), Post-tax return on average shareholders’<br><br>equity excluding specific litigation items, Post-tax return<br><br>on average tangible shareholders’ equity excluding<br><br>specific litigation items	Post-tax return on average shareholders’ equity
Tangible book value per basic share outstanding, Book<br><br>value per basic share outstanding	Book value per share outstanding

For descriptions of these non-GAAP financial measures and the adjustments made to the most directly comparable financial

measures under IFRS, please refer to (i) pages 15 through 26 of Exhibits 99.2 and 99.5 and (ii) the section “Supplementary

Information (Unaudited): Non-GAAP Financial Measures” on pages 422 to 428 of Deutsche Bank’s 2024 Annual Report on

Form 20-F.

When used with respect to future periods, non-GAAP financial measures Deutsche Bank uses forward-looking statements.

Deutsche Bank cannot predict or quantify the levels of the most directly comparable financial measures under IFRS that

would correspond to these measures for future periods. This is because neither the magnitude of such IFRS financial

measures, nor the magnitude of the adjustments to be used to calculate the related non-GAAP financial measures from

such IFRS financial measures, can be predicted. Such adjustments, if any, will relate to specific, currently unknown, events

and in most cases can be positive or negative, so that it is not possible to predict whether, for a future period, the non-GAAP

financial measure will be greater than or less than the related IFRS financial measure.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed

on its behalf by the undersigned, thereunto duly authorized.

Deutsche Bank Aktiengesellschaft

Date:January 29, 2026

By:	_/s/ Andrea Schriber____________
Name:	Andrea Schriber
Title:	Managing Director
By:	_/s/ Joseph C. Kopec____________
---	---
Name:	Joseph C. Kopec
Title:	Managing Director and Senior Counsel

db20260129991 Media Release 1 | 13

Deutsche Bank

Exhibit 99.1

Media Release

Frankfurt am Main 29 January 2026

Deutsche Bank hits 2025 financial targets with record

full-year and fourth-quarter profits

Record profits in full year 2025

•Profit before tax of € 9.7 billion, up 84% year on year

•Net profit doubles year on year to € 7.1 billion

Delivery on 2025 financial targets

•Post-tax return on tangible equity (RoTE)1 of 10.3%

•Cost/income ratio of 64%

€ 8.5 billion in completed and proposed capital distributions since 2022 include

€ 2.9 billion of distributions proposed in respect of 2025, comprising:

•Dividend proposal of € 1.00 per share/€ 1.9 billion

•€ 1 billion in share buybacks authorized

Continued year-on-year growth in net revenues and business volumes

•2025 net revenues up 7% to € 32.1 billion, in line with ambition

•Compound annual revenue growth of 6% since 2021

•Net inflows of € 78 billion, and growth in assets under management of

€ 124 billion, across Private Bank and Asset Management

Costs reduced in line with full-year guidance, with solid credit quality

•Noninterest expenses down 10% year on year to € 20.7 billion, reflecting

an 86% reduction in nonoperating costs

•Adjusted costs of € 20.3 billion, down 1% year on year

•Provision for credit losses down 7% to € 1.7 billion

Issued by the media relations department of Deutsche Bank AG<br><br>Taunusanlage 12, 60325 Frankfurt am Main	Internet: db.com/news<br><br>Email: db.media@db.com

Media Release 2 | 13

Record profit before tax in the fourth quarter of 2025

•Profit before tax of € 2.0 billion, up from € 583 million in the prior year

•Net profit of € 1.6 billion, up from € 337 million in the prior year

•Revenues of € 7.7 billion, up 7% year on year

•Noninterest expenses down 15% year on year to € 5.3 billion, reflecting

significantly lower nonoperating costs

“The record results we achieved in 2025 prove the strength of our Global

Hausbank model and the value we provide for our clients,” said Christian Sewing,

Chief Executive Officer. We delivered on all our 2025 financial goals and, with €

8.5 billion in delivered and proposed capital distributions so far since 2022, we will

surpass our original commitment to shareholders. This gives us the strongest

possible foundation for the next phase of our strategy. We’re committed to scaling

our Global Hausbank and further improving returns on our path towards our long-

term goal: to become the European Champion.”

Deutsche Bank (XETRA: DBGn.DB / NYSE: DB) today announced a record profit

before tax of € 9.7 billion for 2025, up 84% compared to 2024. Revenues grew by

7% year on year to € 32.1 billion, in line with the bank’s 2025 goal of around € 32

billion. Noninterest expenses were € 20.7 billion, in line with guidance of around €

20.6 billion and down 10% year on year, driven by a reduction of 86% in

nonoperating costs which largely reflected the non-recurrence of specific

litigation items in 2024.

Delivery on key targets

Net profit was € 7.1 billion, approximately double the 2024 result. The bank’s full-

year 2025 target ratios improved considerably year on year and were in line with

the bank’s 2025 targets:

•Post-tax return on average tangible shareholders’ equity (RoTE1) was

10.3% in 2025, in line with the bank’s 2025 target of above 10% and up from

4.7%, or 7.1% excluding specific litigation items, in 2024. Post-tax return on

average shareholders’ equity (RoE1) was 9.3%, up from 4.2% in the prior year

•The cost/income ratio was 64%, meeting the bank’s target of below 65%

and down from 76%, or 71% excluding the aforementioned specific litigation

items, in 2024

Fourth-quarter pre-tax profit was € 2.0 billion, a record for the fourth quarter and

a rise of more than threefold compared to the fourth quarter of 2024. This

development reflected 7% growth in revenues to € 7.7 billion, together with a 15%

reduction in noninterest expenses to € 5.3 billion, driven primarily by the non-

recurrence of the aforementioned specific litigation items in the prior year quarter.

Media Release 3 | 13

Fourth-quarter net profit was € 1.6 billion, up from € 337 million in the fourth

quarter of 2024. Post-tax RoTE1 was 8.7% in the quarter, up from 0.7% in the prior

year quarter, while post-tax RoE1 was 7.8%, up from 0.6% year on year. The fourth

quarter cost/income ratio was 69%, down from 86% in the prior year quarter.

A further € 2.9 billion in proposed capital distributions to shareholders

Management plans to propose dividends in respect of 2025 of € 1.00 per share, or

€ 1.9 billion, to shareholders at its Annual General Meeting in May 2026, up by

around 50% from € 0.68 per share for 2024. The bank has secured the customary

authorizations for € 1.0 billion in further share repurchases in respect of 2025.

Together, these measures would increase cumulative capital distributions to

shareholders by a further € 2.9 billion and would represent distributions in respect

of 2025 consistent with the bank’s commitment to a 50% payout ratio.

Cumulative capital distributions in respect of the financial years 2021-2025, paid

or payable in 2022-2026, would thereby reach € 8.5 billion, surpassing the bank’s

original goal of € 8 billion. The bank aims to deliver further capital distributions,

subject to the customary authorization, in the second half of 2026.

James von Moltke, Chief Financial Officer, added: “2025 was a year of delivery for

Deutsche Bank. We hit our RoTE target of above 10%, both Group-wide and across

all our businesses. We sustained revenue momentum and business growth in line

with our ambitions. We maintained cost discipline and used operational

efficiencies to self-fund further investments while meeting our cost targets. Sound

capital management enabled us both to strengthen our capital ratio and grow our

distributions to shareholders. All of this gives us a strong step-off point to deliver

on our future goals.”

The Global Hausbank: strength across the board in 2025

All four of Deutsche Bank’s businesses delivered double-digit profit growth,

significantly improved cost/income ratios and post-tax RoTE1 above 10% in 2025:

Corporate Bank: profit before tax up 24% year on year to € 2.6 billion

•RoTE1 of 15.3% (2024: 12.7%) and RoE1 of 14.1% (2024: 11.9%)

•Cost/income ratio of 62% (2024: 67%)

Investment Bank: profit before tax up 20% year on year to € 4.0 billion

•RoTE1 of 11.2% (2024: 9.4%) and RoE1 of 10.8% (2024: 9.1%)

•Cost/income ratio of 58% (2024: 63%)

Private Bank: profit before tax up 95% year on year to € 2.3 billion

•RoTE1 of 10.5% (2024: 5.1%) and RoE1 of 10.1% (2024: 5.1%)

•Cost/income ratio of 70% (2024: 78%)

Asset Management: profit before tax up 55% year on year to € 983 million

•RoTE1 of 29.1% (2024: 18.0%) and RoE1 of 12.9% (2024: 8.0%)

•Cost/income ratio of 59% (2024: 69%)

Media Release 4 | 13

Accelerating execution of the Global Hausbank strategy: delivery in all areas

builds strong foundations for the next phase of growth

Deutsche Bank delivered in line with its goals on all pillars of the accelerated

execution of its Global Hausbank strategy in 2025:

•Revenue growth: Net revenues grew 7% to € 32.1 billion in 2025, in line with

the bank’s goal of around € 32 billion for the year. Compound annual

revenue growth since 2021 was 6.0% through the end of 2025, the mid-

point of the bank’s target range of 5.5-6.5%.

•Operational efficiency: Deutsche Bank completed its € 2.5 billion

operational efficiency program as planned by the end of 2025. Measures

include optimization of the bank’s platform in Germany and workforce

reductions, notably in non-client-facing roles.

•Capital efficiency: Deutsche Bank’s capital efficiency program delivered

RWA equivalent benefits of a cumulative € 31 billion by the end of 2025,

above the high end of its year-end 2025 target range of € 25-30 billion.

These efficiencies contributed to the bank’s year-end 2025 CET1 capital

ratio of 14.2%, up from 13.8% at year-end 2024.

In November 2025, Deutsche Bank announced its ‘Scaling the Global Hausbank’

strategy, financial targets and capital objectives for 2026-2028. The bank aims to

accelerate value creation through focused growth, strict capital discipline and a

scalable operating model, and targets a post-tax RoTE of greater than 13% and a

cost/income ratio of below 60% in 2028. The bank also plans to increase its payout

ratio from 50% to 60% from 2026, with discretion to deploy and distribute excess

capital where the bank’s CET1 capital ratio sustainably exceeds its target

operating range of 13.5-14.0%.

Deutsche Bank’s long-term ambition is to become the European Champion with

leadership across key segments, market-leading returns, a deepened and scaled

global presence and network and an AI-powered and innovation-focused

organization. Further details of the bank’s ‘Scaling the Global Hausbank’ strategy

and 2026-2028 goals can be found at https://investor-relations.db.com/.

2025 business and volume growth in line with goals

Net revenues of € 32.1 billion in 2025, up 7% year on year, included net

commission and fee income of € 10.9 billion, up 5% year on year, while net interest

income in key segments of the banking book remained resilient at € 13.7 billion, up

2%, reflecting higher deposit volumes.

Assets under management grew by € 124 billion across the Private Bank and

Asset Management, including net inflows of € 78 billion, during 2025; this is

expected to drive revenue growth in these businesses in future periods.

Fourth-quarter net revenues were € 7.7 billion, up 7% year on year and the bank’s

highest fourth-quarter revenues since 2014.

Media Release 5 | 13

Revenue performance in the bank’s businesses

Corporate Bank:

•2025 net revenues were € 7.4 billion, down 1% year on year. This decrease

was driven primarily by FX movements and lower net interest income, partly

offset by growth of 5% in net commission and fee income. Deposit margin

compression was partly offset by growth of € 17 billion, or 5%, in deposits to

€ 329 billion during the year. Revenues in Corporate Treasury Services were

up 1% year on year at € 4.2 billion, Institutional Client Services revenues

declined 2% to € 1.9 billion, and Business Banking revenues were down 7%

to € 1.3 billion.

•Fourth-quarter net revenues were € 1.8 billion, down 2% on the prior year

quarter. The impacts of normalizing deposit margins and FX headwinds were

partly offset by interest rate hedging, deposit growth of € 25 billion during

the quarter with strong growth in sight deposits, and year-on-year growth of

4% in net commission and fee income. Corporate Treasury Services

revenues were € 1.0 billion, essentially flat year on year; revenues in

Institutional Client Services were down 5% to € 455 million and Business

Banking revenues declined 4% to € 318 million.

Investment Bank:

•2025 net revenues grew 9% year on year to € 11.5 billion. Fixed Income &

Currencies (FIC) revenues rose 13% to € 9.6 billion, with FIC Markets up 13%

and FIC Financing revenues up 12%. Investment Banking & Capital Markets

revenues were € 1.9 billion, down 6%, or essentially flat if adjusted for

certain mark-to-market losses on Leveraged Debt Capital Markets

exposures early in the year. Debt Origination revenues were down 14% to

€ 1.1 billion. This more than offset growth in Equity Origination, which rose

21% to € 225 million, and a 1% rise in Advisory revenues to € 536 million.

•Fourth-quarter net revenues were € 2.5 billion, up 5% on the prior year

quarter. Revenues in FIC grew 6% to € 2.0 billion, the strongest fourth

quarter on record, despite lower levels of volatility. FIC Markets revenues

grew 7% to € 1.1 billion, largely driven by growth in Foreign Exchange and

Emerging Markets. FIC Financing revenues were up 6% to € 881 million,

reflecting continued momentum and focused balance sheet deployment

throughout 2025. Investment Banking & Capital Markets revenues declined

4% to € 495 million, driven in part by a 9% decline in Advisory revenues

compared to a very strong prior-year quarter. A 6% decline in Debt

Origination revenues largely offset growth of 23% in Equity Origination.

Media Release 6 | 13

Private Bank:

•2025 net revenues were € 9.7 billion, up 3% year on year. Net interest

income was up 7% to € 6.2 billion and net commission and fee income

rose 1% year on year to € 3.0 billion. Revenues in Personal Banking were

€ 5.3 billion, up 1% year on year; growth in deposit revenues and investment

products offset lower lending revenues, which reflected the strategic

decision to optimize parts of the mortgage business and focus further

on value-accretive areas. Wealth Management revenues rose 6% to

€ 4.4 billion, predominantly driven by growth in investment product

revenues and deposits, while lending remained essentially flat. Assets under

management, at € 685 billion, were € 51 billion higher than year-end 2024,

driven partly by net inflows of € 27 billion.

•Fourth quarter net revenues were € 2.4 billion, up 3% year on year.

Revenues in Personal Banking were € 1.4 billion, down 1% year on year. In

Wealth Management, revenues grew 10% year on year to € 1.1 billion,

predominantly driven by growth in deposit revenues and investment

product revenues, while the prior year quarter was impacted by certain

hedging costs. Assets under management grew by a further € 10 billion,

including net inflows of € 2 billion.

Asset Management:

•2025 net revenues were € 3.1 billion, up 16% year on year and the highest

for any year since the initial public offering of DWS in 2018. Management

fees grew 5% to € 2.6 billion. Performance and Transaction fees more than

doubled, to € 318 million, reflecting the recognition of performance fees

from Alternative Infrastructure. Other revenues were € 162 million, up from

€ 23 million in the prior year, driven by favorable valuations of guaranteed

products. Assets under management grew to € 1,085 billion, € 73 billion

higher than at the end of 2024, driven primarily by net inflows of € 51

billion.

•Fourth-quarter net revenues were € 888 million, up 25% on the prior year

quarter. Management fees were € 674 million, up 4% year on year, reflecting

higher average assets under management, predominantly in Passive

products. Performance and Transaction fees were significantly higher at €

173 million, reflecting continued strong performance fees from a multi-

asset fund and higher Infrastructure performance fees. Other Revenues

were € 41 million, materially higher, driven by the aforementioned

factors. Assets under management rose by € 30 billion during the quarter,

driven by market performance and net inflows of € 10 billion.

Media Release 7 | 13

Noninterest expenses: year-on-year reductions in line with guidance

Noninterest expenses were € 20.66 billion in 2025, down 10% year on year, in line

with the bank’s full-year forecast of approximately € 20.6 billion.

•Adjusted costs, which exclude nonoperating items, were € 20.3 billion,

down 1% year on year and in line with guidance. Higher variable

compensation expenses, reflecting the bank’s performance, were offset by

cost reductions in IT, professional services and other expenses.

•Nonoperating costs were € 362 million, down 86% from € 2.6 billion in

This reduction was largely driven by significantly lower litigation

expenses, primarily relating to specific litigation items in 2024.

In the fourth quarter, noninterest expenses were € 5.3 billion, down 15% from the

prior year quarter.

•Adjusted costs were € 5.1 billion, down 3% from the prior year quarter and

in line with guidance.

•Nonoperating costs were € 168 million, down from € 945 million in the prior

year quarter, reflecting both significantly lower specific litigation items and

lower restructuring and severance expenses.

With effect from the first quarter of 2026, Deutsche Bank plans to discontinue the

separate reporting of adjusted costs and nonoperating costs.

The workforce was 89,879 FTEs at the end of 2025, essentially unchanged

compared to the end of 2024. In the fourth quarter, the workforce was reduced by

451 FTEs as hiring and the internalization of external staff were more than offset

by departures during the quarter.

Credit quality: provisions down 7% in 2025

Provision for credit losses was € 1.7 billion, or 36 basis points (bps) of average

loans, down 7% from € 1.8 billion, or 38 bps of average loans, in 2024.

In the fourth quarter, provision for credit losses was € 395 million, or 33 bps

of average loans, down 5% from the previous quarter and down 6% from

€ 420 million in the prior year quarter.

Provision for non-performing (Stage 3) loans was € 532 million, up from € 357

million in the previous quarter and from € 415 million in the prior year quarter.

The quarter-on-quarter Stage 3 development reflected higher provisions in the

Corporate Bank than in previous quarters; a single-name provision in the

commercial real estate sector in the Investment Bank; and a rise in Private Bank

provisions following model updates which positively impacted the third quarter.

This increase in Stage 3 provisions was partly offset by releases of € 137 million in

performing (Stage 1 and 2) loan provisions. These releases reflected an improved

macro-economic outlook compared to earlier in 2025 and positive portfolio

effects, partly offset by higher overlays.

Media Release 8 | 13

Strong capital generation supports € 2.9 billion in further distributions

The Common Equity Tier 1 (CET1) capital ratio was 14.2% at the end of 2025, up

from 13.8% at the end of 2024. Organic capital generation from increased

profitability offset the combined impacts of higher capital distributions and

coupon payments, regulatory impacts and business growth during the year.

During 2025, the bank made capital distributions of € 2.3 billion, up 50% over

These included the 2024 dividend of € 0.68 per share, or € 1.3 billion, and

share buybacks of € 1.0 billion, bringing cumulative distributions paid since 2022

to € 5.6 billion.

Deutsche Bank has proposed further capital distributions of € 2.9 billion in 2026 to

date, as outlined above. This would bring cumulative distributions to € 8.5 billion,

in excess of the bank’s original goal of € 8.0 billion, in respect of the financial years

2021-2025, paid or payable in 2022-2026. The bank aims to deliver further capital

distributions, subject to the customary authorizations, in the second half of 2026.

The fourth-quarter development of the bank’s CET1 ratio, from 14.5% to 14.2%,

largely reflected anticipated regulatory impacts. These included the

discontinuation, at the end of 2025, of the application of Article 468 Capital

Requirements Regulation (CRR) transitional rule for unrealized gains and losses

(‘OCI filter’), and the annual update of Operational Risk RWA calculations in line

with revised EBA guidance issued in June 2025. The fourth-quarter development

also reflected normalizing market risk levels and credit risk RWA growth. These

impacts were partly offset by strong organic capital generation as well as

securitization transactions executed in the quarter. With these transactions, RWA

efficiencies relating to the bank’s capital efficiency program reached € 31 billion,

exceeding the bank’s target range of € 25-30 billion by the end of 2025.

The Leverage ratio was 4.6% in the fourth quarter of 2025, stable versus the third

quarter, reflecting the aforementioned discontinuation of the capital filter for

unrealized gains and losses; higher leverage exposures, driven by higher year-end

cash balances and securities financing transactions, were offset by higher AT1

capital including AT1 issuance in the quarter.

Liquidity and funding strength

The Liquidity Coverage Ratio was 144%, above the regulatory requirement of

100%, representing a surplus of € 80 billion. The Net Stable Funding Ratio was

119%, within the bank’s target range of 115-120% and representing a surplus of

€ 106 billion above required levels.

Deposits were € 692 billion at the end of 2025, up by € 26 billion from year-end

2024 and including growth of € 29 billion during the fourth quarter of 2025,

reflecting franchise strength in the Corporate Bank, notably Corporate Cash

Management, and in the Private Bank.

Media Release 9 | 13

Sustainable Finance: volumes2 reach € 471 billion since 2020 after a very strong

fourth quarter

Sustainable Financing and ESG investment volumes ex-DWS2 were € 31 billion in

the quarter, the second-highest quarter since the bank began tracking these

volumes in 2020. This brought the 2025 total to € 98 billion, the highest annual

volume since 2021, and the cumulative total since January 1, 2020 to € 471 billion.

In the fourth quarter of 2025, Deutsche Bank’s businesses contributed as follows:

•Corporate Bank: € 7 billion in sustainable financing, raising the Corporate

Bank’s cumulative total since January 1, 2020, to € 91 billion.

•Investment Bank: € 20 billion in sustainable financing, capital market

issuance and market making, for a cumulative total of € 291 billion since

January 1, 2020.

•Private Bank: € 4 billion growth in ESG assets under management and new

client lending, and a cumulative total of € 80 billion since January 1, 2020.

In November 2025, Deutsche Bank announced a new target for a cumulative € 900

billion in sustainable and transition finance for the period from 2020 to the end of

This target includes the bank’s sustainable financing and ESG investment

volumes since January 1, 2020 and reinforces Deutsche Bank’s role as a trusted

partner for clients in global transformation. The bank also launched its ambition to

facilitate 300 nature-related transactions by the end of 2027.

For the first time, Deutsche Bank achieved a place on the A-List with CDP, the

global environmental disclosure platform. This ranks Deutsche Bank among the

top four percent of companies rated by CDP in all sectors globally.

Notable transactions during the fourth quarter of 2025 included:

•Acting as Joint Global Coordinator on China Water Affairs Group Ltd USD

150 million 5-year Blue Bond. An amount equal to the net proceeds will be

allocated to finance or refinance eligible projects under its Green and Blue

Framework such as Clean Water or Sanitation.

•Refinancing and upsizing AUD 3 billion in Certified Green Loans – the

largest CBI2 green loan certification in 2025 – for Intellihub Group. The

financing supports the large-scale rollout of smart meters and energy

devices across Australia and New Zealand, enabling Intellihub to more than

double its current reach of over three million households by 2030.

•Joint Lead Arranger on a senior credit facility to the German FlixTrain to

finance 30 high-speed energy-efficient electric train units. This aligns with

the growing demand for eco-friendly transportation and supports Flix’s

target of reduction by ~41% of emission intensity (gCO2e/pkm) by 2032.

Media Release 10 | 13

Group results at a glance

1 For a description of this and other non-GAAP financial measures, see ‘Use of non-GAAP financial measures’

below, and on pp 15-22 of the fourth quarter 2025 Financial Data Supplement

2 Cumulative ESG volumes include sustainable financing (flow) and ESG investments (stock) in the Corporate

Bank, Investment Bank, Private Bank and Corporate & Other from January 1, 2020 to date. Products in scope

include capital market issuance (bookrunner share only), market making activities (annual average volume of

eligible bond inventory), sustainable financing, period-end assets under management and period-end pension

plan assets (gross assets). Cumulative volumes and targets do not include ESG assets under management

within DWS, which are reported separately by DWS

3 At period-end

Media Release 11 | 13

ESG Classification

We defined our sustainable financing and ESG investment activities in the “Sustainable Financing Framework”

and “Deutsche Bank ESG Investments Framework” which are available at investor-relations.db.com. Given the

cumulative definition of our target, in cases where validation against the Framework cannot be completed

before the end of the reporting quarter, volumes are reported upon completion of the validation in subsequent

quarters. In Asset Management, for details on ESG product classification of DWS, please refer to the section

“Our Responsibility – Sustainable Action – Our Product Suite” in DWS Annual Report 2024.

For further information please contact:

Christian StreckertEduard Stipic

Phone: +49 69 910 38079Phone: +49 69 910 41864

Email: christian.streckert@db.comEmail: eduard.stipic@db.com

Charlie Olivier

Phone: +44 20 7545 7866

Email: charlie.olivier@db.com

Investor Relations

+49 800 910-8000 (Frankfurt)

db.ir@db.com

Annual Media Conference

Deutsche Bank will host its Annual Media Conference at 09:00 CET today. This

event can be followed live on the bank’s website from 09:00 to 11:00 CET.

Analyst call

An analyst call to discuss fourth quarter and full year 2025 financial results will

take place at 11:00 CET today. The Financial Data Supplement (FDS), presentation

and audio webcast for the analyst conference call are available at: www.db.com/

quarterly-results

A fixed income investor call will take place on January 30, 2026, at 15:00 CET.

This conference call will be transmitted via internet: www.db.com/quarterly-

results

Annual Report

The figures in this release are preliminary and unaudited. Deutsche Bank will

publish its 2025 Annual Report and Form 20-F on March 12, 2026.

Media Release 12 | 13

About Deutsche Bank

Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and

wealth management products and services as well as focused investment banking to private individuals, small

and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the

leading bank in Germany with strong European roots and a global network.

Forward-looking statements

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 the 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 March 13, 2025, under the

heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from

www.db.com/ir.

Basis of Accounting

Results are prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the

International Accounting Standards Board (“IASB”) and endorsed by the European Union (“EU”), including,

from 2020, application of portfolio fair value hedge accounting for non-maturing deposits and fixed rate

mortgages with pre-payment options (the “EU carve out”). Fair value hedge accounting under the EU carve out

is employed to minimize the accounting exposure to both positive and negative moves in interest rates in each

tenor bucket thereby reducing the volatility of reported revenue from Treasury activities.

For the three-month period ended December 31, 2025, the application of the EU carve out had a positive

impact of € 463 million on profit before taxes and of € 308 million on profit. For the same time period in 2024,

the application of the EU carve out had a negative impact of € 127 million on profit before taxes and of € 60

million on profit. For the full year 2025, the application of the EU carve out had a positive impact of € 662

million on profit before taxes and of € 325 million on profit. For the full year 2024, the application of the EU

carve out had a negative impact of € 1.4 billion on profit before taxes and of € 976 million on profit. The

Group’s regulatory capital and ratios thereof are also reported on the basis of the EU carve out version of IAS

As of December 31, 2025, the application of the EU carve out had a negative impact on the CET1 capital

ratio of about 60 basis points compared to a negative impact of about 68 basis points as of December 31,

In any given period, the net effect of the EU carve out can be positive or negative, depending on the fair

market value changes in the positions being hedged and the hedging instruments.

Media Release 13 | 13

Use of Non-GAAP Financial Measures

This report and other documents the bank has published or may publish contain non-GAAP financial

measures. Non-GAAP financial measures are measures of our historical or future performance, financial

position or cash flows that contain adjustments that exclude or include amounts that are included or

excluded, as the case may be, from the most directly comparable measure calculated and presented in

accordance with IFRS in our financial statements. Examples of our non-GAAP financial measures, and the

most directly comparable IFRS financial measures, are as follows:

Non-GAAP Financial Measure	Most Directly Comparable IFRS Financial<br><br>Measure
Profit (loss) before tax before nonoperating costs,<br><br>Profit (loss) before tax excluding specific litigation<br><br>items	Profit (loss) before tax
Profit (loss) attributable to Deutsche Bank<br><br>shareholders, Profit (loss) attributable to Deutsche<br><br>Bank shareholders and additional equity components,<br><br>Profit (loss) excluding specific litigation items, Profit<br><br>(loss) attributable to Deutsche Bank shareholders<br><br>excluding specific litigation items	Profit (loss)
Net interest income in the key banking book segments	Net interest income
Revenues on a currency-adjusted basis	Net revenues
Adjusted costs, Costs on a currency-adjusted basis,<br><br>Nonoperating costs, Specific litigation items	Noninterest expenses
Cost/income ratio excluding specific litigation items	Cost/income ratio based on noninterest<br><br>expenses
Net assets (adjusted)	Total assets
Tangible shareholders’ equity, Average tangible<br><br>shareholders’ equity, Tangible book value, Average<br><br>tangible book value	Total shareholders’ equity (book value)
Post-tax return on average shareholders’ equity<br><br>(based on Profit (loss) attributable to Deutsche Bank<br><br>shareholders after AT1 coupon), Post-tax return on<br><br>average tangible shareholders’ equity (based on Profit<br><br>(loss) attributable to Deutsche Bank shareholders<br><br>after AT1 coupon), Post-tax return on average<br><br>shareholders’ equity excluding specific litigation<br><br>items, Post-tax return on average tangible<br><br>shareholders’ equity excluding specific litigation items	Post-tax return on average shareholders’<br><br>equity
Tangible book value per basic share outstanding, Book<br><br>value per basic share outstanding	Book value per share outstanding

Revenues and costs on a currency-adjusted basis are calculated by translating prior period revenues that were

generated or incurred in non-euro currencies into euros at the foreign exchange rates that prevailed during the

current period. These adjusted figures, and period-to-period percentage changes based thereon, are intended to

provide information on the development of underlying business volumes.

Adjusted costs are calculated by deducting (i) impairment of goodwill and other intangible assets, (ii) net

litigation charges and (iii) restructuring and severance, in total referred to as nonoperating costs, from

noninterest expenses under IFRS.

Specific litigation items are costs relating to the bank’s provision for Postbank takeover litigation, the reversal

of the bank’s RusChemAlliance (RCA) indemnification asset, and the bank’s provision relating to Polish FX

mortgages.

db20260129992

Deutsche Bank January 29, 2026 Financial Data Supplement Q4 2025 Exhibit 99.2

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ Deutsche Bank consolidated Summary 2 Consolidated Statement of Income 3 Consolidated Balance Sheet - Assets 4 Consolidated Balance Sheet - Liabilities and total equity 5 Net revenues - Segment view 6 Segment detail Corporate Bank 7 Investment Bank 8 Private Bank 9 Asset Management 10 Corporate & Other 11 Risk and capital Asset Quality 12 Regulatory capital 13 Leverage ratio 14 Non-GAAP financial measures 15 Per share information 23 Definition of certain financial measures and other information 24 Footnotes 27 Agenda Due to rounding, numbers presented throughout this document may not sum precisely to the totals we provide and percentages may not precisely reflect the absolute figures. All segment figures reflect the segment composition as of the fourth quarter 2025. Commencing from the fourth quarter of 2025, Deutsche Bank renamed “Origination & Advisory” within the Investment Bank to “Investment Banking & Capital Markets” to better reflect the business it focuses on. At the same time, the additional sub-category “Fixed Income & Currencies: Ex Financing“ within Fixed Income & Currencies (FIC) was renamed to “Fixed Income & Currencies: Markets“ to improve transparency regarding the revenue composition of FIC. Commencing from the fourth quarter of 2025, the Private Bank is organized along the client sectors “Wealth Management”, renamed from “Wealth Management & Private Banking”, and “Personal Banking”. EU carve out Results are prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (“IASB”) and endorsed by the European Union (“EU”), including application of portfolio fair value hedge accounting for non-maturing deposits and fixed rate mortgages with pre-payment options (the “EU carve out”). Fair value hedge accounting under the EU carve out is employed to minimize the accounting exposure to both positive and negative moves in interest rates in each tenor bucket thereby reducing the volatility of reported revenue from Treasury activities. For the three-month period ended December 31, 2025, application of the EU carve out had a positive impact of € 463 million on profit before taxes and of € 308 million on profit. For the same period in 2024, the application of the EU carve out had a negative impact of € 127 million on profit before taxes and of € 60 million on profit. For the full-year 2025, application of the EU carve out had a positive impact of € 662 million on profit before taxes and of € 325 million on profit. For the same period in 2024, the application of the EU carve out had a negative impact of € 1.4 billion on profit before taxes and of € 976 million on profit. The Group’s regulatory capital and ratios thereof are also reported on the basis of the EU carve out version of IAS 39. As of December 31, 2025, the application of the EU carve out had a negative impact on the CET1 capital ratio of about 60 basis points compared to a negative impact of about 68 basis points as of December 31, 2024. In any given period, the net effect of the EU carve out can be positive or negative, depending on the fair market value changes in the positions being hedged and the hedging instruments. To reflect reporting obligations in Germany and the U.S., Deutsche Bank has prepared separate sets of interim financial information (i.e., locally: based on IFRS as endorsed by the EU; U.S.: based on IFRS as issued by the IASB). This Financial Data Supplement is presented under IFRS as endorsed by the EU. Deutsche Bank is filing its Earnings, Interim and Annual Reports under IFRS as issued by the IASB with the U.S. SEC (https://www.db.com/ir/en/sec-filings-for-financial-results.htm). 1 Q4 2025 Financial Data Supplement

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q4 2025 vs. Q4 2024 Q4 2025 vs. Q3 2025 FY 2025 vs. FY 2024 Group targets Post-tax return on average tangible shareholders' equity1,2,3 7.4% 8.7% (1.0)% 10.2% 0.7% 4.7% 11.9% 10.1% 10.7% 8.7% 10.3% 8.0ppt (2.0)ppt 5.7ppt Compound annual growth rate of revenues from 20214 6.6% 6.0% 5.7% 5.6% 5.8% 5.8% 6.1% 5.9% 6.0% 6.0% 6.0% 0.2ppt 0.0ppt 0.2ppt Cost/income ratio1 75.1% 68.2% 88.3% 63.2% 86.1% 76.3% 61.2% 63.6% 64.4% 68.6% 64.4% (17.5)ppt 4.2ppt (12.0)ppt Common Equity Tier 1 capital ratio1,5 13.7% 13.4% 13.5% 13.8% 13.8% 13.8% 13.8% 14.2% 14.5% 14.2% 14.2% 0.4ppt (0.3)ppt 0.4ppt Key financial metrics Statement of income, in € bn Total net revenues 28.9 7.8 7.6 7.5 7.2 30.1 8.5 7.8 8.0 7.7 32.1 7.0% (3.9)% 6.7% Provision for credit losses 1.5 0.4 0.5 0.5 0.4 1.8 0.5 0.4 0.4 0.4 1.7 (6.0)% (5.4)% (6.7)% Noninterest expenses 21.7 5.3 6.7 4.7 6.2 23.0 5.2 5.0 5.2 5.3 20.7 (14.7)% 2.4% (10.1)% Nonoperating costs6 1.1 0.3 1.7 (0.3) 0.9 2.6 0.1 (0.0) 0.1 0.2 0.4 (82.2)% 15.4% (85.9)% Adjusted costs6 20.6 5.0 5.0 5.0 5.3 20.4 5.1 5.0 5.0 5.1 20.3 (2.7)% 2.0% (0.5)% Pre-provision profit7 7.2 2.5 0.9 2.8 1.0 7.1 3.3 2.8 2.9 2.4 11.4 141.5% (15.4)% 60.6% Profit (loss) before tax 5.7 2.0 0.4 2.3 0.6 5.3 2.8 2.4 2.4 2.0 9.7 N/M (17.1)% 83.9% Profit (loss) 4.9 1.5 0.1 1.7 0.3 3.5 2.0 1.7 1.8 1.6 7.1 N/M (13.5)% 103.7% Profit (loss) attributable to Deutsche Bank shareholders 4.2 1.3 (0.1) 1.5 0.1 2.7 1.8 1.5 1.6 1.3 6.1 N/M (17.0)% 126.9% Balance sheet, in € bn5 Total assets 1,312 1,331 1,351 1,380 1,387 1,387 1,417 1,398 1,391 1,435 1,435 3% 3% 3% Net assets (adjusted)1 1,029 1,030 1,053 1,082 1,083 1,083 1,105 1,084 1,106 1,139 1,139 5% 3% 5% Loans (gross of allowance for loan losses) 479 480 482 477 485 485 482 472 476 479 479 (1)% 1% (1)% Average loans (gross of allowance for loan losses) 483 479 480 477 479 479 482 475 473 476 477 (1)% 1% (0)% Deposits 622 635 641 650 666 666 665 653 663 692 692 4% 4% 4% Allowance for loan losses 5.2 5.4 5.4 5.5 5.7 5.7 5.8 5.9 5.9 6.1 6.1 7% 3% 7% Shareholders' equity 64 66 64 65 66 66 67 65 66 67 67 1% 2% 1% Sustainable finance volume (in each period)8,9 64 21 21 30 21 93 16 28 23 31 98 48% 35% 5% Resources5 Risk-weighted assets, in € bn 350 355 356 356 357 357 352 341 340 347 347 (3)% 2% (3)% Leverage exposure, in € bn 1,240 1,254 1,262 1,284 1,316 1,316 1,302 1,276 1,300 1,327 1,327 1% 2% 1% Tangible shareholders' equity (tangible book value), in € bn 58 59 57 58 59 59 60 58 59 60 60 1% 2% 1% High-quality liquid assets (HQLA), in € bn 219 222 221 230 226 226 231 232 234 260 260 15% 11% 15% Employees (full-time equivalent) 90,130 90,323 89,470 90,236 89,753 89,753 89,687 89,426 90,330 89,879 89,879 0% (0)% 0% Branches 1,432 1,421 1,394 1,381 1,307 1,307 1,245 1,220 1,196 1,179 1,179 (10)% (1)% (10)% Ratios Post-tax return on average shareholders' equity1,3 6.7% 7.8% (0.9)% 9.1% 0.6% 4.2% 10.6% 9.1% 9.6% 7.8% 9.3% 7.2ppt (1.8)ppt 5.1ppt Provision for credit losses (bps of average loans) 31.4 36.7 39.7 41.4 35.1 38.2 39.1 35.6 35.3 33.2 35.8 (1.9)bps (2.1)bps (2.4)bps Operating leverage10 (0.3)% 4.1% (17.2)% 13.3% (5.2)% (1.7)% 11.2% 28.8% (2.0)% 21.7% 16.7% 26.9ppt 23.7ppt 18.4ppt Net interest margin 1.4% 1.3% 1.2% 1.3% 1.4% 1.3% 1.4% 1.5% 1.5% 1.6% 1.5% 0.2ppt 0.1ppt 0.2ppt Loan-to-deposit ratio 77.0% 75.7% 75.2% 73.3% 72.7% 72.7% 72.5% 72.3% 71.8% 69.2% 69.2% (3.5)ppt (2.6)ppt (3.5)ppt Leverage ratio1 4.5% 4.5% 4.6% 4.6% 4.6% 4.6% 4.6% 4.7% 4.6% 4.6% 4.6% (0.0)ppt (0.0)ppt (0.0)ppt Liquidity coverage ratio 140% 136% 136% 135% 131% 131% 134% 136% 140% 144% 144% 13.4ppt 4.5ppt 13.4ppt Net stable funding ratio 121% 123% 122% 122% 121% 121% 119% 120% 119% 119% 119% (1.6)ppt 0.4ppt (1.6)ppt Share-related information Basic earnings per share11 € 2.07 € 0.71 € (0.28) € 0.82 € 0.15 € 1.40 € 1.01 € 0.49 € 0.91 € 0.77 € 3.16 N/M (15)% 125% Diluted earnings per share1,11 € 2.03 € 0.69 € (0.28) € 0.81 € 0.15 € 1.37 € 0.99 € 0.48 € 0.89 € 0.76 € 3.09 N/M (15)% 126% Book value per basic share outstanding1 € 31.64 € 32.59 € 32.07 € 32.73 € 33.41 € 33.41 € 33.91 € 32.91 € 33.66 € 34.51 € 34.51 3% 3% 3% Tangible book value per basic share outstanding1 € 28.41 € 29.26 € 28.65 € 29.34 € 29.90 € 29.90 € 30.43 € 29.50 € 30.17 € 30.98 € 30.98 4% 3% 4% Dividend per share (with respect to previous financial year) € 0.30 - € 0.45 - - € 0.45 - € 0.68 - - € 0.68 N/M N/M 51% Summary FinSum For footnotes please refer to page 27. 2

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ (In € m, unless stated otherwise) FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q4 2025 vs. Q4 2024 Q4 2025 vs. Q3 2025 FY 2025 vs. FY 2024 Interest and similar income 44,074 12,611 12,651 12,362 11,734 49,358 11,493 11,043 10,969 10,954 44,458 (7)% (0)% (10)% Interest expense 30,472 9,482 9,628 9,108 8,075 36,292 7,823 7,206 7,053 6,685 28,767 (17)% (5)% (21)% Net interest income 13,602 3,129 3,023 3,255 3,659 13,065 3,670 3,837 3,916 4,269 15,691 17% 9% 20% Provision for credit losses 1,505 439 476 494 420 1,830 471 423 417 395 1,707 (6)% (5)% (7)% Net interest income after provision for credit losses 12,097 2,690 2,547 2,760 3,238 11,235 3,198 3,414 3,499 3,873 13,985 20% 11% 24% Net commission and fee income 9,206 2,612 2,594 2,468 2,697 10,372 2,752 2,674 2,654 2,811 10,891 4% 6% 5% Net gains (losses) on financial assets/liabilities at fair value through P&L 4,947 1,938 1,735 1,450 864 5,987 1,837 1,156 1,477 690 5,160 (20)% (53)% (14)% Net gains (losses) on financial assets at fair value through OCI (0) 26 13 (3) 12 48 16 17 7 10 49 (18)% 42% 2% Net gains (losses) on financial assets at amortized cost (96) (7) (0) 5 (9) (11) 2 1 4 1 9 N/M (68)% N/M Net income (loss) from equity method investments (38) 6 (11) 18 (2) 12 (19) (19) 19 13 (6) N/M (33)% N/M Other income (loss) 1,259 75 234 307 3 619 267 136 (34) (68) 300 N/M 99% (52)% Total noninterest income 15,277 4,650 4,566 4,247 3,565 17,027 4,854 3,967 4,126 3,457 16,404 (3)% (16)% (4)% Memo: Net revenues 28,879 7,779 7,589 7,501 7,224 30,092 8,524 7,804 8,043 7,726 32,096 7% (4)% 7% Compensation and benefits 11,131 2,930 3,010 2,884 2,908 11,731 3,041 2,894 2,931 2,948 11,813 1% 1% 1% General and administrative expenses 10,112 2,373 3,738 1,928 3,204 11,243 2,180 2,065 2,247 2,368 8,860 (26)% 5% (21)% Impairment of goodwill and other intangible assets 233 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M Restructuring activities 220 1 (46) (68) 109 (3) (5) 0 2 (12) (15) N/M N/M N/M Noninterest expenses 21,695 5,305 6,702 4,744 6,221 22,971 5,216 4,959 5,180 5,304 20,658 (15)% 2% (10)% Profit (loss) before tax 5,678 2,036 411 2,262 583 5,291 2,837 2,421 2,445 2,027 9,731 N/M (17)% 84% Income tax expense (benefit) 787 585 358 597 246 1,786 825 688 626 453 2,592 84% (28)% 45% Profit (loss) 4,892 1,451 52 1,665 337 3,505 2,012 1,733 1,819 1,574 7,139 N/M (13)% 104% Profit (loss) attributable to noncontrolling interests 119 29 45 32 33 139 44 46 46 71 208 116% 54% 50% Profit (loss) attributable to Deutsche Bank shareholders and additional equity components 4,772 1,422 8 1,633 304 3,366 1,968 1,687 1,773 1,503 6,931 N/M (15)% 106% Performance measures and ratios 1 Net interest margin 1.4% 1.3% 1.2% 1.3% 1.4% 1.3% 1.4% 1.5% 1.5% 1.6% 1.5% 0.2ppt 0.1ppt 0.2ppt Average yield on loans 4.9% 5.0% 5.1% 4.9% 4.8% 4.9% 4.5% 4.5% 4.4% 4.3% 4.5% (0.4)ppt (0.1)ppt (0.5)ppt Cost/income ratio 75.1% 68.2% 88.3% 63.2% 86.1% 76.3% 61.2% 63.6% 64.4% 68.6% 64.4% (17.5)ppt 4.2ppt (12.0)ppt Compensation ratio 38.5% 37.7% 39.7% 38.4% 40.3% 39.0% 35.7% 37.1% 36.4% 38.2% 36.8% (2.1)ppt 1.7ppt (2.2)ppt Noncompensation ratio 36.6% 30.5% 48.6% 24.8% 45.9% 37.4% 25.5% 26.5% 28.0% 30.5% 27.6% (15.4)ppt 2.5ppt (9.8)ppt Adjusted costs 20,585 5,043 5,042 5,047 5,276 20,407 5,122 5,004 5,034 5,136 20,297 (3)% 2% (1)% Pre-provision profit 7 7,184 2,475 887 2,757 1,003 7,121 3,308 2,844 2,863 2,422 11,437 141% (15)% 61% Consolidated statement of income Consolidated Statement of Income 3 For footnotes please refer to page 27.

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ (In € m) Dec 31, 2023 Mar 31, 2024 Jun 30, 2024 Sep 30, 2024 Dec 31, 2024 Mar 31, 2025 Jun 30, 2025 Sep 30, 2025 Dec 31, 2025 Dec 31, 2025 vs. Dec 31, 2024 Assets Cash and central bank balances 178,416 148,238 148,625 141,031 147,494 151,550 137,124 139,644 164,659 12% Interbank balances without central banks 6,140 8,103 7,333 7,807 6,160 7,478 6,766 8,363 6,962 13% Central bank funds sold and securities purchased under resale agreements 14,725 18,807 24,937 29,645 40,803 39,524 32,938 35,715 37,509 (8)% Securities borrowed 39 43 44 51 44 52 35 24 6 (87)% Trading assets 125,275 136,599 134,894 153,664 139,772 157,821 158,116 161,766 153,811 10% Positive market values from derivative financial instruments 251,856 231,186 237,222 243,383 291,754 233,376 256,029 232,071 241,328 (17)% Non-trading financial assets mandatory at fair value through P&L 88,047 99,827 104,577 124,393 114,324 111,231 118,053 110,869 124,495 9% Financial assets designated at fair value through P&L 75 45 45 45 0 0 0 0 0 N/M Total financial assets at fair value through P&L 465,252 467,657 476,738 521,485 545,849 502,428 532,198 504,706 519,635 (5)% Financial assets at fair value through OCI 35,546 38,091 40,076 42,322 42,090 42,325 41,586 42,064 43,644 4% Equity method investments 1,013 1,027 1,048 997 1,028 982 890 921 924 (10)% Loans at amortized cost 473,705 474,954 476,741 471,070 478,921 476,287 466,581 469,867 472,620 (1)% Property and equipment 6,185 6,254 6,219 6,146 6,193 6,167 6,039 6,005 5,924 (4)% Goodwill and other intangible assets 7,327 7,461 7,548 7,470 7,749 7,627 7,413 7,501 7,561 (2)% Other assets 114,697 150,736 152,603 142,964 101,207 173,379 157,679 168,262 167,472 65% Assets for current tax 1,513 1,630 1,565 1,503 1,801 1,748 1,735 1,444 1,609 (11)% Deferred tax assets 7,773 7,782 7,931 7,600 7,839 7,300 6,847 6,729 6,544 (17)% Total assets 1,312,331 1,330,785 1,351,406 1,380,092 1,387,177 1,416,847 1,397,830 1,391,246 1,435,067 3% Consolidated balance sheet - Assets Assets 4

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ (In € m) Dec 31, 2023 Mar 31, 2024 Jun 30, 2024 Sep 30, 2024 Dec 31, 2024 Mar 31, 2025 Jun 30, 2025 Sep 30, 2025 Dec 31, 2025 Dec 31, 2025 vs. Dec 31, 2024 Liabilities and equity Deposits 622,035 634,678 640,910 649,878 666,261 664,922 653,367 662,956 691,828 4% Central bank funds purchased and securities sold under repurchase agreements 3,038 2,804 2,632 2,744 3,740 4,431 4,371 3,195 4,177 12% Securities loaned 3 3 4 3 2 2 2 2 2 (22)% Trading liabilities 44,005 44,514 48,370 46,462 43,498 46,538 43,990 41,943 42,879 (1)% Negative market values from derivative financial instruments 238,260 215,557 223,332 231,626 276,395 218,231 235,609 213,577 225,775 (18)% Financial liabilities designated at fair value through P&L 83,727 83,055 92,683 99,664 92,047 102,734 104,783 115,969 115,055 25% Investment contract liabilities 484 506 509 505 454 447 451 471 469 3% Financial liabilities at fair value through P&L 366,475 343,632 364,893 378,257 412,395 367,951 384,833 371,960 384,179 (7)% Other short-term borrowings 9,620 8,126 10,696 8,154 9,895 15,115 18,090 14,862 18,204 84% Other liabilities 113,036 153,912 142,808 144,098 95,631 161,636 141,167 141,412 137,713 44% Provisions 2,448 2,492 3,812 2,954 3,326 3,135 2,791 2,388 2,408 (28)% Liabilities for current tax 631 691 637 776 720 849 950 932 694 (4)% Deferred tax liabilities 546 605 610 584 590 599 590 604 623 5% Long-term debt 119,390 107,661 108,848 115,890 114,899 116,353 113,531 113,773 114,754 (0)% Trust preferred securities 289 288 288 287 287 286 286 284 283 (1)% Total liabilities 1,237,513 1,254,893 1,276,137 1,303,625 1,307,745 1,335,280 1,319,978 1,312,368 1,354,863 4% Total shareholders' equity 64,486 65,505 63,634 64,848 66,276 66,957 64,555 65,521 66,933 1% Additional equity components12 8,569 8,573 10,052 10,066 11,550 13,043 11,840 11,857 11,708 1% Noncontrolling interests 1,763 1,814 1,583 1,554 1,606 1,567 1,457 1,500 1,562 (3)% Total equity 74,818 75,892 75,269 76,467 79,432 81,566 77,852 78,877 80,203 1% Total liabilities and equity 1,312,331 1,330,785 1,351,406 1,380,092 1,387,177 1,416,847 1,397,830 1,391,246 1,435,067 3% Consolidated balance sheet - Liabilities and total equity Liabilities 5 For footnotes please refer to page 27.

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ (In € m) FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q4 2025 vs. Q4 2024 Q4 2025 vs. Q3 2025 FY 2025 vs. FY 2024 Corporate Bank Corporate Treasury Services 4,381 1,066 1,056 1,021 1,055 4,197 1,072 1,053 1,045 1,049 4,220 (1)% 0% 1% Institutional Client Services 1,895 462 530 485 479 1,956 473 527 462 455 1,917 (5)% (2)% (2)% Business Banking 1,442 351 336 336 330 1,352 321 316 308 318 1,263 (4)% 3% (7)% Total Corporate Bank 7,718 1,878 1,922 1,842 1,864 7,506 1,866 1,896 1,816 1,822 7,400 (2)% 0% (1)% of which: Net interest income 5,241 1,272 1,274 1,195 1,246 4,987 1,160 1,169 1,100 1,138 4,567 (9)% 3% (8)% Net commission and fee income 2,460 622 659 648 648 2,577 658 696 674 677 2,704 4% 0% 5% Remaining income 18 (15) (11) (2) (30) (58) 48 32 41 7 129 N/M (83)% N/M Investment Bank Fixed Income & Currencies 7,897 2,508 2,049 2,091 1,871 8,518 2,896 2,247 2,478 1,990 9,610 6% (20)% 13% Investment Banking & Capital Markets 1,238 499 580 395 516 1,990 454 410 502 495 1,861 (4)% (1)% (6)% Research and Other 24 40 (30) 37 2 49 13 30 (2) 28 70 N/M N/M 41% Total Investment Bank 9,160 3,047 2,599 2,523 2,389 10,557 3,362 2,687 2,978 2,514 11,541 5% (16)% 9% Private Bank Personal Banking 5,442 1,311 1,290 1,279 1,372 5,253 1,289 1,306 1,332 1,358 5,284 (1)% 2% 1% Wealth Management 4,128 1,065 1,041 1,041 987 4,133 1,150 1,065 1,083 1,082 4,381 10% (0)% 6% Total Private Bank 9,571 2,376 2,331 2,319 2,359 9,386 2,439 2,371 2,415 2,440 9,665 3% 1% 3% of which: Net interest income 6,156 1,432 1,441 1,426 1,487 5,786 1,454 1,517 1,557 1,640 6,169 10% 5% 7% Net commission and fee income 2,852 789 731 730 706 2,956 832 739 725 702 2,999 (0)% (3)% 1% Remaining income 563 156 159 163 166 643 152 115 132 97 497 (42)% (27)% (23)% Asset Management Management fees 2,314 592 613 626 647 2,479 639 630 655 674 2,597 4% 3% 5% Performance and transaction fees 128 17 10 12 108 148 37 58 50 173 318 60% N/M 115% Other (59) 8 40 22 (46) 23 54 37 29 41 162 N/M 42% N/M Total Asset Management 2,383 617 663 660 709 2,649 730 725 734 888 3,077 25% 21% 16% Corporate & Other 47 (139) 74 157 (98) (6) 127 125 99 62 413 N/M (37)% N/M Net revenues 28,879 7,779 7,589 7,501 7,224 30,092 8,524 7,804 8,043 7,726 32,096 7% (4)% 7% Net revenues - Segment view Net Revenues 6 13 For footnotes please refer to page 27.

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ (In € m, unless stated otherwise) FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q4 2025 vs. Q4 2024 Q4 2025 vs. Q3 2025 FY 2025 vs. FY 2024 Corporate Treasury Services 4,381 1,066 1,056 1,021 1,055 4,197 1,072 1,053 1,045 1,049 4,220 (1)% 0% 1% Institutional Client Services 1,895 462 530 485 479 1,956 473 527 462 455 1,917 (5)% (2)% (2)% Business Banking 1,442 351 336 336 330 1,352 321 316 308 318 1,263 (4)% 3% (7)% Total net revenues 7,718 1,878 1,922 1,842 1,864 7,506 1,866 1,896 1,816 1,822 7,400 (2)% 0% (1)% of which: Net interest income 5,241 1,272 1,274 1,195 1,246 4,987 1,160 1,169 1,100 1,138 4,567 (9)% 3% (8)% Net commission and fee income 2,460 622 659 648 648 2,577 658 696 674 677 2,704 4% 0% 5% Remaining income 18 (15) (11) (2) (30) (58) 48 32 41 7 129 N/M (83)% N/M Provision for credit losses 266 63 135 126 23 347 77 22 (4) 99 194 N/M N/M (44)% Compensation and benefits 1,539 382 403 399 426 1,611 411 408 407 406 1,632 (5)% (0)% 1% General and administrative expenses 3,088 822 778 772 1,076 3,448 746 729 744 752 2,971 (30)% 1% (14)% Impairment of goodwill and other intangible assets 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M Restructuring activities (4) 0 (0) (1) 1 (1) 0 0 (0) (0) (0) N/M N/M N/M Noninterest expenses 4,623 1,204 1,181 1,171 1,502 5,058 1,157 1,137 1,150 1,158 4,603 (23)% 1% (9)% Noncontrolling interests 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M Profit (loss) before tax 2,828 611 606 545 339 2,101 632 738 670 564 2,603 66% (16)% 24% Balance sheet and resources Employees (front office, full-time equivalent)5 7,670 7,746 7,807 7,926 7,959 7,959 8,030 8,164 8,334 8,420 8,420 6% 1% 6% Employees (business-aligned operations, full-time equivalent) 5 8,017 8,076 8,013 8,110 8,171 8,171 8,157 8,103 8,151 8,181 8,181 0% 0% 0% Employees (allocated central infrastructure, full-time equivalent) 5 9,669 9,750 9,741 10,076 10,150 10,150 10,247 10,324 10,606 10,719 10,719 6% 1% 6% Total employees (full-time equivalent) 5 25,356 25,572 25,561 26,113 26,280 26,280 26,435 26,591 27,092 27,320 27,320 4% 1% 4% Assets5,14 263,903 264,086 271,037 287,710 279,670 279,670 291,160 280,307 288,944 323,485 323,485 16% 12% 16% Risk-weighted assets5 68,987 71,857 74,515 74,312 78,176 78,176 75,624 72,452 70,568 71,988 71,988 (8)% 2% (8)% of which: operational risk RWA5 5,568 8,075 8,773 8,792 10,784 10,784 11,030 11,004 10,549 10,844 10,844 1% 3% 1% Leverage exposure 5,15 306,809 306,869 315,267 333,190 339,417 339,417 333,943 323,195 330,682 357,514 357,514 5% 8% 5% Deposits5 289,494 299,815 303,059 309,843 312,593 312,593 313,115 301,975 304,936 329,455 329,455 5% 8% 5% Loans (gross of allowance for loan losses)5 116,732 116,578 116,913 115,124 116,674 116,674 116,426 116,896 117,542 119,570 119,570 2% 2% 2% Average loans (gross of allowance for loan losses) 5,16 116,732 114,791 114,853 114,359 114,620 114,298 113,934 114,838 115,544 116,990 114,950 2% 1% 1% Allowance for loan losses 5 1,054 1,067 1,180 1,312 1,221 1,221 1,265 1,243 1,172 1,194 1,194 (2)% 2% (2)% Sustainable finance volume (per quarter/year) 8 13,545 5,615 3,644 2,140 5,790 17,190 3,554 6,799 3,205 6,675 20,233 15% 108% 18% Performance measures and ratios1 Net interest margin 4.2% 4.1% 4.1% 3.8% 3.8% 4.0% 3.6% 3.6% 3.4% 3.4% 3.5% (0.4)ppt 0.0ppt (0.5)ppt Provision for credit losses (bps of average loans) 22.8 21.9 47.1 44.1 8.2 30.4 27.2 7.6 (1.4) 34.0 16.9 25.8bps 35.4bps (13.5)bps Cost/income ratio 59.9% 64.1% 61.5% 63.6% 80.6% 67.4% 62.0% 59.9% 63.3% 63.6% 62.2% (17.0)ppt 0.2ppt (5.2)ppt Adjusted costs 4,495 1,128 1,140 1,150 1,161 4,579 1,150 1,156 1,136 1,140 4,582 (2)% 0% 0% Pre-provision profit7 3,095 674 741 671 362 2,448 709 760 666 663 2,797 83% (0)% 14% Post-tax return on average shareholders' equity3 17.1% 14.5% 14.2% 12.4% 6.8% 11.9% 13.4% 16.1% 14.8% 12.3% 14.1% 5.5ppt (2.5)ppt 2.2ppt Post-tax return on average tangible shareholders' equity2,3 18.5% 15.6% 15.2% 13.2% 7.3% 12.7% 14.4% 17.5% 16.2% 13.4% 15.3% 6.2ppt (2.7)ppt 2.6ppt Corporate Bank Corporate Bank 7 For footnotes please refer to page 27.

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ (In € m, unless stated otherwise) FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q4 2025 vs. Q4 2024 Q4 2025 vs. Q3 2025 FY 2025 vs. FY 2024 Fixed Income & Currencies 7,897 2,508 2,049 2,091 1,871 8,518 2,896 2,247 2,478 1,990 9,610 6% (20)% 13% Fixed Income & Currencies: Financing 2,909 808 779 762 835 3,183 906 904 870 881 3,561 6% 1% 12% Fixed Income & Currencies: Markets 4,989 1,700 1,270 1,329 1,036 5,335 1,990 1,343 1,608 1,109 6,050 7% (31)% 13% Investment Banking & Capital Markets 1,238 499 580 395 516 1,990 454 410 502 495 1,861 (4)% (1)% (6)% Debt Origination 837 352 395 269 258 1,274 276 223 360 242 1,100 (6)% (33)% (14)% Equity Origination 102 44 50 33 59 186 52 49 51 73 225 23% 42% 21% Advisory 299 103 136 93 199 531 126 139 91 181 536 (9)% 100% 1% Research and Other 24 40 (30) 37 2 49 13 30 (2) 28 70 N/M N/M 41% Total net revenues 9,160 3,047 2,599 2,523 2,389 10,557 3,362 2,687 2,978 2,514 11,541 5% (16)% 9% Provision for credit losses 431 150 163 135 101 549 163 259 308 97 827 (3)% (68)% 51% Compensation and benefits 2,534 688 689 655 658 2,690 753 721 716 702 2,894 7% (2)% 8% General and administrative expenses 4,082 943 991 923 1,113 3,970 896 878 987 1,020 3,782 (8)% 3% (5)% Impairment of goodwill and other intangible assets 233 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M Restructuring activities (3) 1 (1) (0) 0 (0) 0 0 0 (1) (0) N/M N/M N/M Noninterest expenses 6,846 1,632 1,679 1,578 1,771 6,660 1,650 1,599 1,703 1,722 6,675 (3)% 1% 0% Noncontrolling interests 3 1 10 (4) (2) 5 3 2 1 10 16 N/M N/M N/M Profit (loss) before tax 1,880 1,263 747 814 520 3,344 1,545 827 965 685 4,022 32% (29)% 20% Balance sheet and resources Employees (front office, full-time equivalent)5 4,856 4,828 4,779 4,931 4,888 4,888 4,898 4,868 5,082 5,037 5,037 3% (1)% 3% Employees (business-aligned operations, full-time equivalent)5 3,146 3,172 3,150 3,174 3,168 3,168 3,161 3,134 3,139 3,151 3,151 (1)% 0% (1)% Employees (allocated central infrastructure, full-time equivalent) 5 11,898 11,945 11,932 12,187 12,009 12,009 12,094 12,061 12,322 12,404 12,404 3% 1% 3% Total employees (full-time equivalent)5 19,899 19,945 19,861 20,292 20,065 20,065 20,153 20,062 20,543 20,592 20,592 3% 0% 3% Assets5,14 658,345 707,245 718,837 753,449 756,484 756,484 786,299 800,065 773,897 736,149 736,149 (3)% (5)% (3)% Risk-weighted assets5 139,532 136,612 135,036 133,548 129,825 129,825 137,484 132,102 131,497 136,412 136,412 5% 4% 5% of which: operational risk RWA5 21,611 17,186 17,557 15,849 14,775 14,775 15,711 15,489 15,038 17,873 17,873 21% 19% 21% Leverage exposure5,15 546,251 567,176 567,043 571,926 592,533 592,533 590,568 589,083 597,616 602,051 602,051 2% 1% 2% Deposits5 17,818 20,295 19,029 20,318 21,950 21,950 26,937 24,248 25,364 27,647 27,647 26% 9% 26% Loans (gross of allowance for loan losses)5 100,645 102,839 105,552 105,101 110,077 110,077 112,431 107,880 111,040 115,325 115,325 5% 4% 5% Average loans (gross of allowance for loan losses)5,16 100,645 102,648 104,259 104,909 107,652 104,952 111,835 110,053 110,319 113,406 111,623 5% 3% 6% Allowance for loan losses 5 870 983 1,033 1,042 1,068 1,068 1,081 1,156 1,318 1,368 1,368 28% 4% 28% Sustainable finance volume (per quarter/year)8 38,840 12,530 16,159 15,109 13,490 57,288 12,059 16,985 17,616 20,394 67,054 51% 16% 17% Performance measures and ratios1 Provision for credit losses (bps of average loans) 42.8 58.6 62.6 51.6 37.4 52.4 58.5 94.0 111.7 34.3 74.1 (3.1)bps (77.3)bps 21.8bps Cost/income ratio 74.7% 53.6% 64.6% 62.5% 74.1% 63.1% 49.1% 59.5% 57.2% 68.5% 57.8% (5.6)ppt 11.3ppt (5.2)ppt Adjusted costs 6,378 1,583 1,581 1,557 1,713 6,433 1,648 1,578 1,646 1,690 6,563 (1)% 3% 2% Pre-provision profit7 2,314 1,415 919 945 618 3,898 1,712 1,087 1,274 792 4,866 28% (38)% 25% Post-tax return on average shareholders' equity3 4.9% 14.6% 8.1% 8.7% 5.0% 9.1% 17.4% 8.4% 10.3% 7.0% 10.8% 2.0ppt (3.4)ppt 1.7ppt Post-tax return on average tangible shareholders' equity 2,3 5.1% 15.1% 8.3% 9.0% 5.2% 9.4% 18.0% 8.7% 10.7% 7.2% 11.2% 2.1ppt (3.5)ppt 1.8ppt Investment Bank Investment Bank 8 For footnotes please refer to page 27.

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ (In € m, unless stated otherwise) FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q4 2025 vs. Q4 2024 Q4 2025 vs. Q3 2025 FY 2025 vs. FY 2024 Personal Banking 5,442 1,311 1,290 1,279 1,372 5,253 1,289 1,306 1,332 1,358 5,284 (1)% 2% 1% Wealth Management 4,128 1,065 1,041 1,041 987 4,133 1,150 1,065 1,083 1,082 4,381 10% (0)% 6% Total net revenues 9,571 2,376 2,331 2,319 2,359 9,386 2,439 2,371 2,415 2,440 9,665 3% 1% 3% of which: Net interest income 6,156 1,432 1,441 1,426 1,487 5,786 1,454 1,517 1,557 1,640 6,169 10% 5% 7% Net commission and fee income 2,852 789 731 730 706 2,956 832 739 725 702 2,999 (0)% (3)% 1% Remaining income 563 156 159 163 166 643 152 115 132 97 497 (42)% (27)% (23)% Provision for credit losses 783 219 149 205 278 851 219 118 85 157 578 (44)% 85% (32)% Compensation and benefits 2,808 710 766 762 701 2,938 729 666 685 714 2,795 2% 4% (5)% General and administrative expenses 4,718 1,105 1,073 1,107 1,110 4,395 1,007 981 961 1,009 3,958 (9)% 5% (10)% Impairment of goodwill and other intangible assets 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M Restructuring activities 228 1 (45) (67) 109 (3) (6) 1 2 (11) (15) N/M N/M N/M Noninterest expenses 7,755 1,816 1,794 1,802 1,919 7,331 1,731 1,648 1,647 1,712 6,738 (11)% 4% (8)% Noncontrolling interests 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M Profit (loss) before tax 1,032 341 389 312 161 1,204 489 605 683 570 2,348 N/M (17)% 95% Balance sheet and resources Employees (front office, full-time equivalent)5 18,483 18,360 18,021 17,678 17,053 17,053 16,629 16,368 16,198 15,840 15,840 (7)% (2)% (7)% Employees (business-aligned operations, full-time equivalent)5 7,780 7,762 7,684 7,623 7,842 7,842 7,855 7,810 7,713 7,497 7,497 (4)% (3)% (4)% Employees (allocated central infrastructure, full-time equivalent)5 12,202 12,257 12,011 12,182 12,164 12,164 12,248 12,219 12,315 12,106 12,106 (0)% (2)% (0)% Total employees (full-time equivalent)5 38,465 38,379 37,715 37,483 37,059 37,059 36,732 36,396 36,226 35,443 35,443 (4)% (2)% (4)% Assets 5,14 330,530 325,981 327,264 325,667 323,551 323,551 322,662 314,060 322,742 315,734 315,734 (2)% (2)% (2)% Risk-weighted assets5 86,226 95,634 96,424 96,853 97,281 97,281 94,327 92,697 92,580 91,996 91,996 (5)% (1)% (5)% of which: operational risk RWA5 7,659 14,648 15,051 15,206 14,438 14,438 14,632 14,644 14,458 14,726 14,726 2% 2% 2% Leverage exposure5,15 338,607 333,458 334,809 333,549 336,229 336,229 336,034 326,840 333,957 325,897 325,897 (3)% (2)% (3)% Deposits5 307,807 310,287 313,879 313,918 320,338 320,338 317,868 317,991 325,289 329,264 329,264 3% 1% 3% Loans (gross of allowance for loan losses)5 261,250 260,679 259,945 256,153 257,476 257,476 253,343 248,384 248,083 246,594 246,594 (4)% (1)% (4)% Average loans (gross of allowance for loan losses)5,16 261,250 260,961 260,747 257,940 256,820 259,161 256,325 250,594 248,135 247,423 250,777 (4)% (0)% (3)% Allowance for loan losses 5 3,188 3,273 3,122 3,071 3,276 3,276 3,356 3,393 3,289 3,375 3,375 3% 3% 3% Assets under management5,17 579,348 605,893 612,986 625,790 634,150 634,150 632,380 645,281 674,516 684,883 684,883 8% 2% 8% Net flows 22,904 11,394 7,297 8,353 1,905 28,949 5,873 6,326 12,965 1,880 27,044 (1)% (86)% (7)% Sustainable finance volume (per quarter/year)8 11,630 3,071 1,526 2,717 1,614 8,927 1,011 4,631 1,994 3,919 11,556 143% 96% 29% Performance measures and ratios1 Net interest margin 2.3% 2.2% 2.2% 2.2% 2.3% 2.2% 2.3% 2.4% 2.5% 2.6% 2.4% 0.3ppt 0.1ppt 0.2ppt Provision for credit losses (bps of average loans) 30.0 33.5 22.8 31.8 43.4 32.8 34.1 18.8 13.7 25.4 23.1 (17.9)bps 11.7bps (9.8)bps Cost/income ratio 81.0% 76.4% 76.9% 77.7% 81.4% 78.1% 71.0% 69.5% 68.2% 70.2% 69.7% (11.2)ppt 2.0ppt (8.4)ppt Adjusted costs 7,287 1,756 1,736 1,790 1,718 7,001 1,686 1,651 1,622 1,671 6,631 (3)% 3% (5)% Pre-provision profit7 1,816 560 537 518 440 2,055 708 723 768 728 2,927 65% (5)% 42% Post-tax return on average shareholders' equity3 4.5% 6.2% 7.0% 5.3% 1.9% 5.1% 8.3% 10.4% 12.1% 9.8% 10.1% 7.9ppt (2.3)ppt 5.1ppt Post-tax return on average tangible shareholders' equity 2,3 4.8% 6.4% 7.0% 5.2% 1.9% 5.1% 8.3% 10.8% 12.6% 10.3% 10.5% 8.4ppt (2.4)ppt 5.4ppt Private Bank Private Bank 9 For footnotes please refer to page 27.

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ (In € m, unless stated otherwise) FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q4 2025 vs. Q4 2024 Q4 2025 vs. Q3 2025 FY 2025 vs. FY 2024 Management fees 2,314 592 613 626 647 2,479 639 630 655 674 2,597 4% 3% 5% Performance and transaction fees 128 17 10 12 108 148 37 58 50 173 318 60% N/M 115% Other (59) 8 40 22 (46) 23 54 37 29 41 162 N/M 42% N/M Total net revenues 2,383 617 663 660 709 2,649 730 725 734 888 3,077 25% 21% 16% Provision for credit losses (1) (1) (0) 0 0 (1) (0) (0) (2) 0 (2) N/M N/M 172% Compensation and benefits 891 234 231 224 230 919 250 226 221 255 952 11% 16% 4% General and administrative expenses 934 222 223 216 243 904 216 212 213 230 871 (6)% 8% (4)% Impairment of goodwill and other intangible assets 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M Restructuring activities 0 0 0 0 (0) 0 0 (0) 0 0 0 N/M N/M N/M Noninterest expenses 1,825 456 453 441 473 1,823 467 438 433 485 1,823 3% 12% (0)% Noncontrolling interests 163 40 50 52 52 194 59 62 66 86 272 64% 30% 40% Profit (loss) before tax 396 122 160 168 183 632 204 225 237 317 983 73% 33% 55% Balance sheet and resources Employees (front office, full-time equivalent) 5 2,044 2,044 2,019 2,066 2,065 2,065 2,063 2,056 2,092 2,103 2,103 2% 1% 2% Employees (business-aligned operations, full-time equivalent) 5 2,343 2,379 2,396 2,476 2,510 2,510 2,542 2,580 2,639 2,732 2,732 9% 4% 9% Employees (allocated central infrastructure, full-time equivalent) 5 574 577 568 583 591 591 594 593 597 590 590 (0)% (1)% (0)% Total employees (full-time equivalent)5 4,961 5,000 4,983 5,126 5,166 5,166 5,200 5,229 5,328 5,425 5,425 5% 2% 5% Assets5,14 10,305 10,669 9,810 9,991 10,543 10,543 10,504 9,905 10,269 10,790 10,790 2% 5% 2% Risk-weighted assets 5 15,155 18,144 18,376 18,094 18,414 18,414 13,411 13,044 14,131 15,520 15,520 (16)% 10% (16)% of which: operational risk RWA5 3,475 4,643 4,910 4,798 4,700 4,700 4,792 4,684 4,801 5,318 5,318 13% 11% 13% Leverage exposure5,15 9,706 9,948 8,935 9,225 10,061 10,061 9,984 9,441 9,647 10,154 10,154 1% 5% 1% Management fee margin (in bps)18 27.1 26.0 26.4 26.2 25.9 26.1 25.3 25.1 25.2 24.8 25.0 (1.1)bps (0.3)bps (1.1)bps Assets under management 5,17 896,097 941,263 933,165 962,910 1,011,552 1,011,552 1,009,590 1,009,813 1,054,245 1,084,511 1,084,511 7% 3% 7% Net flows 28,299 7,786 (18,696) 18,258 18,371 25,719 19,879 8,484 12,103 10,493 50,958 (43)% (13)% 98% Performance measures and ratios1 Cost/income ratio 76.6% 73.9% 68.4% 66.7% 66.8% 68.8% 64.0% 60.4% 59.0% 54.7% 59.3% (12.1)ppt (4.3)ppt (9.6)ppt Adjusted costs 1,765 438 448 437 463 1,786 459 436 431 473 1,798 2% 10% 1% Pre-provision profit 7 558 161 210 220 236 826 263 287 301 402 1,254 71% 34% 52% Post-tax return on average shareholders' equity3 5.2% 6.3% 8.0% 8.5% 9.2% 8.0% 10.0% 11.6% 12.7% 17.8% 12.9% 8.5ppt 5.1ppt 4.9ppt Post-tax return on average tangible shareholders' equity 2,3 12.2% 14.5% 17.8% 18.9% 20.6% 18.0% 22.1% 26.0% 28.1% 41.0% 29.1% 20.4ppt 12.9ppt 11.0ppt Asset Management Asset Management 10 For footnotes please refer to page 27.

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ (In € m, unless stated otherwise) FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q4 2025 vs. Q4 2024 Q4 2025 vs. Q3 2025 FY 2025 vs. FY 2024 Total net revenues 47 (139) 74 157 (98) (6) 127 125 99 62 413 N/M (37)% N/M Provision for credit losses 26 9 29 27 17 83 12 25 30 41 108 135% 34% 31% Compensation and benefits 3,358 916 921 843 893 3,574 896 873 903 869 3,541 (3)% (4)% (1)% General and administrative expenses (2,710) (720) 673 (1,089) (338) (1,474) (686) (736) (657) (643) (2,721) 90% (2)% 85% Impairment of goodwill and other intangible assets 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M Restructuring activities (1) 0 0 (0) 0 0 0 (0) 0 (0) (0) N/M N/M N/M Noninterest expenses 647 197 1,594 (246) 555 2,100 211 137 246 226 819 (59)% (8)% (61)% Noncontrolling interests (166) (42) (60) (48) (50) (199) (62) (65) (67) (95) (289) 90% 43% 45% Profit (loss) before tax (459) (302) (1,490) 424 (621) (1,989) (34) 28 (110) (109) (226) (82)% (1)% (89)% Balance sheet and resources Total Employees (full-time equivalent)5 35,792 35,956 35,601 36,250 36,097 36,097 36,351 36,344 36,981 36,918 36,918 2% (0)% 2% Adjusted costs 661 138 137 113 220 608 180 182 199 162 724 (27)% (19)% 19% Risk-weighted assets 5 39,842 32,583 32,075 33,689 33,732 33,732 31,127 30,509 31,611 31,216 31,216 (7)% (1)% (7)% Leverage exposure5,15 38,945 36,320 35,750 35,782 37,667 37,667 31,275 27,476 27,753 31,825 31,825 (16)% 15% (16)% Corporate & Other C&O 11 For footnotes please refer to page 27.

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Dec 31, 2025 722,204 53,383 14,874 615 791,076 421 888 4,600 247 6,156 Sep 30, 2025 696,077 52,783 14,451 577 763,888 448 972 4,330 224 5,974 Jun 30, 2025 664,320 66,029 14,268 613 745,231 481 909 4,416 211 6,018 Mar 31, 2025 685,780 65,640 13,728 595 765,743 451 815 4,441 207 5,915 Dec 31, 2024 676,154 63,836 15,214 609 755,814 438 736 4,412 213 5,799 Sep 30, 2024 659,405 54,988 14,980 716 730,089 451 726 4,249 207 5,633 Jun 30, 2024 665,542 57,650 14,288 767 738,247 440 701 4,183 202 5,526 Mar 31, 2024 657,219 55,840 14,010 796 727,865 432 690 4,181 197 5,501 Dec 31, 2023 686,421 55,704 12,799 806 755,731 447 680 3,960 198 5,285 Dec 31, 2025 411,254 52,092 14,720 610 478,676 409 881 4,513 247 6,049 Sep 30, 2025 409,728 51,157 14,275 572 475,732 429 960 4,245 224 5,859 Jun 30, 2025 400,124 57,713 14,050 613 472,500 466 900 4,335 211 5,912 Mar 31, 2025 409,712 58,233 13,548 595 482,089 433 800 4,353 207 5,793 Dec 31, 2024 412,480 56,540 14,974 609 484,603 411 718 4,326 213 5,668 Sep 30, 2024 409,330 51,873 14,682 716 476,601 433 715 4,167 207 5,523 Jun 30, 2024 413,601 53,723 14,076 767 482,166 423 693 4,098 202 5,417 Mar 31, 2024 413,136 52,628 13,791 795 480,350 413 682 4,097 197 5,390 Dec 31, 2023 412,663 52,834 12,576 806 478,879 424 673 3,874 198 5,170 Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Dec 31, 2025 43,030 466 147 0 43,644 12 22 14 0 48 Sep 30, 2025 41,149 755 159 0 42,064 11 39 16 0 66 Jun 30, 2025 37,259 4,158 168 0 41,586 11 22 22 0 55 Mar 31, 2025 38,894 3,336 94 0 42,325 11 13 10 0 34 Dec 31, 2024 36,828 5,176 86 0 42,090 12 16 10 0 38 Sep 30, 2024 41,326 939 57 0 42,322 14 8 15 0 37 Jun 30, 2024 38,623 1,385 68 0 40,076 14 8 16 0 38 Mar 31, 2024 37,068 923 99 0 38,091 11 6 26 0 43 Dec 31, 2023 34,424 1,076 46 0 35,546 13 13 22 0 48 Off-balance sheet positions Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Dec 31, 2025 321,740 26,678 2,724 21 351,164 98 96 196 2 393 Sep 30, 2025 313,495 25,271 2,606 19 341,391 101 87 178 2 367 Jun 30, 2025 298,985 29,582 2,463 23 331,054 91 78 162 3 335 Mar 31, 2025 305,884 29,942 2,282 6 338,113 123 97 170 0 390 Dec 31, 2024 313,625 25,983 2,225 7 341,840 106 82 173 0 361 Sep 30, 2024 304,317 19,039 1,943 6 325,304 97 72 171 0 341 Jun 30, 2024 307,289 22,390 1,831 7 331,517 118 83 167 0 368 Mar 31, 2024 303,987 19,025 1,967 2 324,981 104 84 159 0 346 Dec 31, 2023 292,747 23,778 2,282 8 318,814 117 88 187 0 393 Memo: Net charge-offs Net charge-offs Net charge-offs / Average loans (at amortized cost)22 Dec 31, 2025 117 0.02% Sep 30, 2025 352 0.07% Jun 30, 2025 163 0.03% Mar 31, 2025 206 0.04% Dec 31, 2024 232 0.05% Sep 30, 2024 257 0.05% Jun 30, 2024 370 0.08% Mar 31, 2024 213 0.04% Dec 31, 2023 280 0.06% Financial instruments measured at amortized cost - Loans20 (In € m, unless stated otherwise) Financial instruments measured at amortized cost20 0.12% 0.04% 1,072 840 583 213 1,229 898 622 232 Gross carrying amount Allowance for credit losses21 Fair value Allowance for credit losses 1,002 (164) 838 0.18% Notional amount Allowance for credit losses21 (93) 369 206 0.15%721 (78) (55) (157) 0.04% 0.22% 0.18% (39) (19) Financial instruments measured at fair value through OCI 1,197 YTD QTD Gross charge-offs Recoveries Net charge-offs Net charge-offs / Average loans (at amortized cost)22 834 447 262 1,104 (113) (58) 0.23% 0.08% Asset quality: Overview of financial instruments subject to impairment Asset Quality 12 19 For footnotes please refer to page 27.

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ (In € m, unless stated otherwise) Dec 31, 2023 Mar 31, 2024 Jun 30, 2024 Sep 30, 2024 Dec 31, 2024 Mar 31, 2025 Jun 30, 2025 Sep 30, 2025 Dec 31, 2025 Dec 31, 2025 vs. Dec 31, 2024 Regulatory capital5 Common Equity Tier 1 capital 48,066 47,672 48,113 49,183 49,457 48,645 48,522 49,346 49,266 (0)% Tier 1 capital 56,395 56,050 57,992 59,061 60,835 60,316 60,193 59,864 60,784 (0)% Tier 2 capital 8,610 8,594 8,449 7,660 7,676 7,426 7,008 7,003 7,050 (8)% Total capital 65,005 64,645 66,441 66,721 68,511 67,741 67,200 66,866 67,834 (1)% Risk-weighted assets and capital adequacy ratios1,5 Risk-weighted assets 349,742 354,830 356,427 356,496 357,427 351,973 340,805 340,387 347,133 (3)% of which: operational risk RWA 57,153 57,049 58,831 57,691 58,061 58,941 58,941 58,941 63,183 9% Common Equity Tier 1 capital ratio 13.7% 13.4% 13.5% 13.8% 13.8% 13.8% 14.2% 14.5% 14.2% 0.4ppt Tier 1 capital ratio 16.1% 15.8% 16.3% 16.6% 17.0% 17.1% 17.7% 17.6% 17.5% 0.5ppt Total capital ratio 18.6% 18.2% 18.6% 18.7% 19.2% 19.2% 19.7% 19.6% 19.5% 0.4ppt Regulatory capital RegCapital 13 For footnotes please refer to page 27.

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ (In € bn, unless stated otherwise) Dec 31, 2023 Mar 31, 2024 Jun 30, 2024 Sep 30, 2024 Dec 31, 2024 Mar 31, 2025 Jun 30, 2025 Sep 30, 2025 Dec 31, 2025 Dec 31, 2025 vs. Dec 31, 2024 Total assets 1,312 1,331 1,351 1,380 1,387 1,417 1,398 1,391 1,435 3% Changes from IFRS to CRR/CRD (72) (77) (90) (96) (71) (115) (122) (92) (108) 51% Derivatives netting (215) (196) (203) (211) (250) (198) (218) (197) (205) (18)% Derivatives add-on 72 77 72 70 75 72 69 71 75 1% Written credit derivatives 21 23 22 22 20 15 16 18 16 (19)% Securities financing transactions 4 2 2 3 4 6 8 10 8 123% Off-balance sheet exposure after application of credit conversion factors 127 132 134 135 158 128 123 127 128 (19)% Consolidation, regulatory and other adjustments (81) (116) (116) (115) (77) (139) (119) (120) (130) 69% Leverage exposure 1,240 1,254 1,262 1,284 1,316 1,302 1,276 1,300 1,327 1% Tier 1 capital 56.4 56.1 58.0 59.1 60.8 60.3 60.2 59.9 60.8 (0)% Leverage ratio1 4.5% 4.5% 4.6% 4.6% 4.6% 4.6% 4.7% 4.6% 4.6% (0.0)ppt Leverage ratio Leverage 14 5 For footnotes please refer to page 27.

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ (In € m, unless stated otherwise) FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q4 2025 vs. Q4 2024 Q4 2025 vs. Q3 2025 FY 2025 vs. FY 2024 Return ratios Profit (loss) before tax 5,678 2,036 411 2,262 583 5,291 2,837 2,421 2,445 2,027 9,731 N/M (17)% 84% Profit (loss) 4,892 1,451 52 1,665 337 3,505 2,012 1,733 1,819 1,574 7,139 N/M (13)% 104% Profit (loss) attributable to noncontrolling interests 119 29 45 32 33 139 44 46 46 71 208 116% 54% 50% Profit (loss) attributable to Deutsche Bank shareholders and additional equity components 4,772 1,422 8 1,633 304 3,366 1,968 1,687 1,773 1,503 6,931 N/M (15)% 106% Profit (loss) attributable to additional equity components 560 147 151 172 198 668 193 202 210 205 809 3% (2)% 21% Profit (loss) attributable to Deutsche Bank shareholders 4,212 1,275 (143) 1,461 106 2,698 1,775 1,485 1,564 1,298 6,122 N/M (17)% 127% Average shareholders' equity 63,011 65,135 63,910 64,284 65,646 64,763 66,862 65,448 65,263 66,504 66,098 1% 2% 2% Deduct: Average goodwill and other intangible assets 6,434 6,644 6,737 6,752 6,853 6,750 6,939 6,763 6,756 6,842 6,835 (0)% 1% 1% Average tangible shareholders' equity 56,577 58,492 57,173 57,533 58,793 58,013 59,922 58,685 58,508 59,662 59,263 1% 2% 2% Post-tax return on average shareholders' equity 1,3 6.7% 7.8% (0.9)% 9.1% 0.6% 4.2% 10.6% 9.1% 9.6% 7.8% 9.3% 7.2ppt (1.8)ppt 5.1ppt Post-tax return on average tangible shareholders' equity1,2,3 7.4% 8.7% (1.0)% 10.2% 0.7% 4.7% 11.9% 10.1% 10.7% 8.7% 10.3% 8.0ppt (2.0)ppt 5.7ppt Costs Noninterest expenses 21,695 5,305 6,702 4,744 6,221 22,971 5,216 4,959 5,180 5,304 20,658 (15)% 2% (10)% Nonoperating costs: Impairment of goodwill and other intangible assets 233 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M Litigation charges, net 311 166 1,554 (344) 659 2,035 26 (94) 96 151 179 (77)% 57% (91)% Restructuring and severance 566 95 106 42 286 529 68 49 49 17 183 (94)% (66)% (66)% Total Nonoperating costs 1,110 262 1,660 (302) 945 2,564 93 (44) 145 168 362 (82)% 15% (86)% Adjusted costs 20,585 5,043 5,042 5,047 5,276 20,407 5,122 5,004 5,034 5,136 20,297 (3)% 2% (1)% Net assets (adjusted), in € bn. Total assets5 1,312 1,331 1,351 1,380 1,387 1,387 1,417 1,398 1,391 1,435 1,435 3% 3% 3% Deduct: Derivatives (incl. hedging derivatives) credit line netting 196 174 181 185 230 230 178 193 174 181 181 (21)% 4% (21)% Deduct: Derivatives cash collateral received/paid 56 54 56 50 59 59 56 63 58 60 60 2% 5% 2% Deduct: Securities Financing Transactions credit line netting 2 2 2 2 2 2 2 5 6 2 2 8% (70)% 8% Deduct: Pending settlements netting 29 71 60 60 13 13 76 53 48 53 53 N/M 10% N/M Net assets (adjusted) 1,5 1,029 1,030 1,053 1,082 1,083 1,083 1,105 1,084 1,106 1,139 1,139 5% 3% 5% Return ratios, Costs and Net Assets (adjusted) - Group Non-GAAP financial measures (1/8) NGFM 1 15 For footnotes please refer to page 27.

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ (In € m, unless stated otherwise) FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q4 2025 vs. Q4 2024 Q4 2025 vs. Q3 2025 FY 2025 vs. FY 2024 Return ratios Profit (loss) before tax 2,828 611 606 545 339 2,101 632 738 670 564 2,603 66% (16)% 24% Profit (loss) 2,036 440 436 392 244 1,512 455 531 482 406 1,874 66% (16)% 24% Profit (loss) attributable to noncontrolling interests 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M Profit (loss) attributable to Deutsche Bank shareholders and additional equity components 2,036 440 436 392 244 1,512 455 531 482 406 1,874 66% (16)% 24% Profit (loss) attributable to additional equity components 107 26 28 33 38 125 38 39 40 38 154 (0)% (5)% 23% Profit (loss) attributable to Deutsche Bank shareholders 1,930 414 408 360 206 1,388 417 492 443 368 1,720 79% (17)% 24% Average allocated shareholders' equity 11,280 11,381 11,476 11,654 12,167 11,681 12,437 12,208 11,978 12,018 12,199 (1)% 0% 4% Deduct: Average allocated goodwill and other intangible assets 849 787 741 766 793 776 829 965 1,024 1,051 968 33% 3% 25% Average allocated tangible shareholders' equity 10,431 10,595 10,735 10,888 11,373 10,905 11,608 11,243 10,954 10,967 11,230 (4)% 0% 3% Post-tax return on average shareholders' equity1,3 17.1% 14.5% 14.2% 12.4% 6.8% 11.9% 13.4% 16.1% 14.8% 12.3% 14.1% 5.5ppt (2.5)ppt 2.2ppt Post-tax return on average tangible shareholders' equity1,2,3 18.5% 15.6% 15.2% 13.2% 7.3% 12.7% 14.4% 17.5% 16.2% 13.4% 15.3% 6.2ppt (2.7)ppt 2.6ppt Costs Noninterest expenses 4,623 1,204 1,181 1,171 1,502 5,058 1,157 1,137 1,150 1,158 4,603 (23)% 1% (9)% Nonoperating costs: Impairment of goodwill and other intangible assets 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M Litigation charges, net 53 61 23 5 287 376 2 (33) 9 12 (9) (96)% 31% N/M Restructuring and severance 76 15 18 16 54 103 5 14 5 6 29 (89)% 16% (72)% Total Nonoperating costs 129 76 41 21 340 479 7 (19) 14 18 21 (95)% 26% (96)% Adjusted costs 4,495 1,128 1,140 1,150 1,161 4,579 1,150 1,156 1,136 1,140 4,582 (2)% 0% 0% Return ratios and Costs - Corporate Bank Non-GAAP financial measures (2/8) NGFM 2 neu 16 For footnotes please refer to page 27.

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ (In € m, unless stated otherwise) FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q4 2025 vs. Q4 2024 Q4 2025 vs. Q3 2025 FY 2025 vs. FY 2024 Return ratios Profit (loss) before tax 1,880 1,263 747 814 520 3,344 1,545 827 965 685 4,022 32% (29)% 20% Profit (loss) 1,354 910 538 586 374 2,407 1,112 595 695 493 2,896 32% (29)% 20% Profit (loss) attributable to noncontrolling interests 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M Profit (loss) attributable to Deutsche Bank shareholders and additional equity components 1,354 910 538 586 374 2,407 1,112 595 695 493 2,896 32% (29)% 20% Profit (loss) attributable to additional equity components 226 57 60 69 78 263 74 81 82 78 315 0% (5)% 20% Profit (loss) attributable to Deutsche Bank shareholders 1,128 853 477 517 296 2,144 1,039 514 613 415 2,581 40% (32)% 20% Average allocated shareholders' equity 22,953 23,419 23,663 23,759 23,805 23,631 23,938 24,593 23,700 23,811 23,967 0% 0% 1% Deduct: Average allocated goodwill and other intangible assets 835 834 760 783 813 804 842 842 851 871 852 7% 2% 6% Average allocated tangible shareholders' equity 22,118 22,584 22,903 22,976 22,992 22,827 23,096 23,751 22,849 22,940 23,115 (0)% 0% 1% Post-tax return on average shareholders' equity1,3 4.9% 14.6% 8.1% 8.7% 5.0% 9.1% 17.4% 8.4% 10.3% 7.0% 10.8% 2.0ppt (3.4)ppt 1.7ppt Post-tax return on average tangible shareholders' equity1,2,3 5.1% 15.1% 8.3% 9.0% 5.2% 9.4% 18.0% 8.7% 10.7% 7.2% 11.2% 2.1ppt (3.5)ppt 1.8ppt Costs Noninterest expenses 6,846 1,632 1,679 1,578 1,771 6,660 1,650 1,599 1,703 1,722 6,675 (3)% 1% 0% Nonoperating costs: Impairment of goodwill and other intangible assets 233 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M Litigation charges, net 147 25 70 3 27 126 (7) 3 35 34 65 23% (3)% (49)% Restructuring and severance 87 24 28 18 31 101 9 18 22 (2) 48 N/M N/M (53)% Total Nonoperating costs 468 49 98 21 59 227 2 21 57 32 113 (46)% (44)% (50)% Adjusted costs 6,378 1,583 1,581 1,557 1,713 6,433 1,648 1,578 1,646 1,690 6,563 (1)% 3% 2% Return ratios and Costs - Investment Bank Non-GAAP financial measures (3/8) NGFM 2 17 For footnotes please refer to page 27.

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ (In € m, unless stated otherwise) FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q4 2025 vs. Q4 2024 Q4 2025 vs. Q3 2025 FY 2025 vs. FY 2024 Return ratios Profit (loss) before tax 1,032 341 389 312 161 1,204 489 605 683 570 2,348 N/M (17)% 95% Profit (loss) 743 246 280 225 116 867 352 436 492 411 1,691 N/M (17)% 95% Profit (loss) attributable to noncontrolling interests 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M Profit (loss) attributable to Deutsche Bank shareholders and additional equity components 743 246 280 225 116 867 352 436 492 411 1,691 N/M (17)% 95% Profit (loss) attributable to additional equity components 123 33 37 42 48 159 48 49 50 49 196 2% (3)% 23% Profit (loss) attributable to Deutsche Bank shareholders 620 213 243 183 68 708 305 386 442 362 1,495 N/M (18)% 111% Average allocated shareholders' equity 13,681 13,675 13,909 13,949 14,402 13,995 14,713 14,789 14,667 14,790 14,763 3% 1% 5% Deduct: Average allocated goodwill and other intangible assets 789 383 (23) (24) (25) 101 (26) 507 681 674 462 N/M (1)% N/M Average allocated tangible shareholders' equity 12,892 13,292 13,932 13,972 14,426 13,894 14,739 14,282 13,986 14,116 14,301 (2)% 1% 3% Post-tax return on average shareholders' equity1,3 4.5% 6.2% 7.0% 5.3% 1.9% 5.1% 8.3% 10.4% 12.1% 9.8% 10.1% 7.9ppt (2.3)ppt 5.1ppt Post-tax return on average tangible shareholders' equity1,2,3 4.8% 6.4% 7.0% 5.2% 1.9% 5.1% 8.3% 10.8% 12.6% 10.3% 10.5% 8.4ppt (2.4)ppt 5.4ppt Costs Noninterest expenses 7,755 1,816 1,794 1,802 1,919 7,331 1,731 1,648 1,647 1,712 6,738 (11)% 4% (8)% Nonoperating costs: Impairment of goodwill and other intangible assets 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M Litigation charges, net 123 10 5 1 13 28 (7) (11) 6 41 29 N/M N/M 3% Restructuring and severance 346 50 53 10 188 301 51 7 19 1 78 (100)% (96)% (74)% Total Nonoperating costs 468 60 58 11 201 330 45 (3) 25 41 107 (79)% 67% (67)% Adjusted costs 7,287 1,756 1,736 1,790 1,718 7,001 1,686 1,651 1,622 1,671 6,631 (3)% 3% (5)% Return ratios and Costs - Private Bank Non-GAAP financial measures (4/8) NGFM 3 18 For footnotes please refer to page 27.

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ (In € m, unless stated otherwise) FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q4 2025 vs. Q4 2024 Q4 2025 vs. Q3 2025 FY 2025 vs. FY 2024 Return ratios Profit (loss) before tax 396 122 160 168 183 632 204 225 237 317 983 73% 33% 55% Profit (loss) 285 88 115 121 132 455 147 162 171 228 708 73% 33% 55% Profit (loss) attributable to noncontrolling interests 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M Profit (loss) attributable to Deutsche Bank shareholders and additional equity components 285 88 115 121 132 455 147 162 171 228 708 73% 33% 55% Profit (loss) attributable to additional equity components 22 6 6 7 8 27 8 8 8 8 33 1% (2)% 20% Profit (loss) attributable to Deutsche Bank shareholders 264 82 109 113 124 428 139 154 162 220 675 78% 35% 58% Average allocated shareholders' equity23 5,103 5,210 5,409 5,352 5,356 5,329 5,553 5,286 5,132 4,948 5,218 (8)% (4)% (2)% Deduct: Average allocated goodwill and other intangible assets 2,944 2,946 2,969 2,955 2,949 2,957 3,035 2,925 2,819 2,803 2,896 (5)% (1)% (2)% Average allocated tangible shareholders' equity23 2,159 2,264 2,440 2,396 2,407 2,372 2,518 2,361 2,312 2,144 2,323 (11)% (7)% (2)% Post-tax return on average shareholders' equity1,3 5.2% 6.3% 8.0% 8.5% 9.2% 8.0% 10.0% 11.6% 12.7% 17.8% 12.9% 8.5ppt 5.1ppt 4.9ppt Post-tax return on average tangible shareholders' equity1,2,3 12.2% 14.5% 17.8% 18.9% 20.6% 18.0% 22.1% 26.0% 28.1% 41.0% 29.1% 20.4ppt 12.9ppt 11.0ppt Costs Noninterest expenses 1,825 456 453 441 473 1,823 467 438 433 485 1,823 3% 12% (0)% Nonoperating costs: Impairment of goodwill and other intangible assets 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M Litigation charges, net 26 15 0 (0) (2) 13 6 (0) (1) 0 6 N/M N/M (55)% Restructuring and severance 34 3 5 4 12 24 2 2 3 12 19 (2)% N/M (21)% Total Nonoperating costs 59 18 5 4 10 37 8 2 2 12 25 19% N/M (33)% Adjusted costs 1,765 438 448 437 463 1,786 459 436 431 473 1,798 2% 10% 1% Return ratios and Costs - Asset Management Non-GAAP financial measures (5/8) NGFM 4 19 For footnotes please refer to page 27.

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ (In € m, unless stated otherwise) FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q4 2025 vs. Q4 2024 Q4 2025 vs. Q3 2025 FY 2025 vs. FY 2024 Return ratios Profit (loss) before tax (459) (302) (1,490) 424 (621) (1,989) (34) 28 (110) (109) (226) (82)% (1)% (89)% Profit (loss) 473 (232) (1,316) 341 (530) (1,737) (55) 10 (20) 36 (30) N/M N/M (98)% Profit (loss) attributable to noncontrolling interests 119 29 45 32 33 139 44 46 46 71 208 116% 54% 50% Profit (loss) attributable to Deutsche Bank shareholders and additional equity components 353 (262) (1,361) 309 (563) (1,876) (99) (36) (67) (35) (237) (94)% (47)% (87)% Profit (loss) attributable to additional equity components 83 25 19 22 27 93 26 25 29 32 112 21% 10% 19% Profit (loss) attributable to Deutsche Bank shareholders 271 (287) (1,380) 287 (589) (1,969) (125) (61) (96) (68) (349) (89)% (29)% (82)% Average allocated shareholders' equity23 9,994 11,451 9,452 9,571 9,917 10,127 10,221 8,571 9,786 10,938 9,952 10% 12% (2)% Deduct: Average allocated goodwill and other intangible assets 1,017 1,693 2,290 2,271 2,322 2,112 2,259 1,523 1,380 1,443 1,657 (38)% 5% (22)% Average allocated tangible shareholders' equity 23 8,976 9,757 7,162 7,301 7,595 8,015 7,962 7,048 8,407 9,495 8,295 25% 13% 3% Costs Noninterest expenses 647 197 1,594 (246) 555 2,100 211 137 246 226 819 (59)% (8)% (61)% Nonoperating costs: Impairment of goodwill and other intangible assets 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M Litigation charges, net (37) 55 1,455 (353) 334 1,491 30 (53) 46 64 88 (81)% 38% (94)% Restructuring and severance 23 3 3 (6) 1 1 0 8 0 (0) 8 N/M N/M N/M Total Nonoperating costs (14) 58 1,458 (359) 335 1,491 30 (45) 47 64 96 (81)% 38% (94)% Adjusted costs 661 138 137 113 220 608 180 182 199 162 724 (27)% (19)% 19% Return ratios and Costs - Corporate & Other Non-GAAP financial measures (6/8) NGFM 5 20 For footnotes please refer to page 27.

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ (In € m, unless stated otherwise) FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q4 2025 vs. Q4 2024 Q4 2025 vs. Q3 2025 FY 2025 vs. FY 2024 Group Net interest income 13,602 3,129 3,023 3,255 3,659 13,065 3,670 3,837 3,916 4,269 15,691 17% 9% 20% Key banking book segments and other funding 13,258 3,300 3,329 3,234 3,355 13,218 3,223 3,372 3,305 3,437 13,337 2% 4% 1% Key banking book segments 13,995 3,348 3,374 3,250 3,462 13,433 3,326 3,442 3,357 3,545 13,670 2% 6% 2% Other funding effects 24 (737) (48) (44) (15) (107) (216) (103) (70) (52) (108) (333) 0% 106% 54% Accounting asymmetry driven25 344 (170) (306) 20 304 (152) 447 465 611 831 2,355 173% 36% N/M Average interest earning assets, in € bn 971 980 975 1,001 1,019 996 1,033 1,026 1,029 1,046 1,036 3% 2% 4% Net interest margin 1.4% 1.3% 1.2% 1.3% 1.4% 1.3% 1.4% 1.5% 1.5% 1.6% 1.5% 0.2ppt 0.1ppt 0.2ppt Key banking book segments Corporate Bank Net interest income 5,241 1,272 1,274 1,195 1,246 4,987 1,160 1,169 1,100 1,138 4,567 (9)% 3% (8)% Average interest earning assets, in € bn 16 124 123 126 127 130 126 129 130 131 134 130 3% 2% 3% Net interest margin 4.2% 4.1% 4.1% 3.8% 3.8% 4.0% 3.6% 3.6% 3.4% 3.4% 3.5% (0.4)ppt 0.0ppt (0.5)ppt Investment Bank Fixed Income and Currencies: Financing Net interest income 2,599 644 659 629 729 2,661 711 756 699 767 2,933 5% 10% 10% Average interest earning assets, in € bn16 92 93 94 96 100 96 106 104 104 106 105 6% 2% 9% Net interest margin 2.8% 2.8% 2.8% 2.6% 2.9% 2.8% 2.7% 2.9% 2.7% 2.9% 2.8% (0.0)ppt 0.2ppt 0.0ppt Private Bank Net interest income 6,156 1,432 1,441 1,426 1,487 5,786 1,454 1,517 1,557 1,640 6,169 10% 5% 7% Average interest earning assets, in € bn16 264 264 263 260 259 262 258 253 250 249 253 (4)% (0)% (3)% Net interest margin 2.3% 2.2% 2.2% 2.2% 2.3% 2.2% 2.3% 2.4% 2.5% 2.6% 2.4% 0.3ppt 0.1ppt 0.2ppt Total key banking book segments Net interest income 13,995 3,348 3,374 3,250 3,462 13,433 3,326 3,442 3,357 3,545 13,670 2% 6% 2% Average interest earning assets, in € bn 16 480 480 483 484 489 484 493 486 485 489 488 0% 1% 1% Net interest margin 2.9% 2.8% 2.8% 2.7% 2.8% 2.8% 2.7% 2.8% 2.8% 2.9% 2.8% 0.1ppt 0.1ppt 0.0ppt Net interest income in the key banking book segments Non-GAAP financial measures (7/8) NGFM 6 21 For footnotes please refer to page 27.

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ (In € m, unless stated otherwise) FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q4 2025 vs. Q4 2024 Q4 2025 vs. Q3 2025 FY 2025 vs. FY 2024 Costs Noninterest expenses 21,695 5,305 6,702 4,744 6,221 22,971 5,216 4,959 5,180 5,304 20,658 (15)% 2% (10)% Nonoperating costs: Impairment of goodwill and other intangible assets 233 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M Litigation charges, net 311 166 1,554 (344) 659 2,035 26 (94) 96 151 179 (77)% 57% (91)% of which: Specific litigation items (Postbank takeover, RusChemAlliance indemnification asset, Polish FX mortgages) 255 46 1,395 (367) 594 1,668 6 (80) 26 74 27 (88)% 180% (98)% Restructuring and severance 566 95 106 42 286 529 68 49 49 17 183 (94)% (66)% (66)% Total Nonoperating costs 1,110 262 1,660 (302) 945 2,564 93 (44) 145 168 362 (82)% 15% (86)% Adjusted costs 20,585 5,043 5,042 5,047 5,276 20,407 5,122 5,004 5,034 5,136 20,297 (3)% 2% (1)% Profit measures and performance ratios Profit before tax 5,678 2,036 411 2,262 583 5,291 2,837 2,421 2,445 2,027 9,731 N/M (17)% 84% Adjustment for nonoperating costs 1,110 262 1,660 (302) 945 2,564 93 (44) 145 168 362 (82)% 15% (86)% Profit before tax before nonoperating costs 6,789 2,297 2,071 1,960 1,527 7,855 2,930 2,377 2,591 2,195 10,093 44% (15)% 28% Profit before tax 5,678 2,036 411 2,262 583 5,291 2,837 2,421 2,445 2,027 9,731 N/M (17)% 84% Adjustment for specific litigation items 255 46 1,395 (367) 594 1,668 6 (80) 26 74 27 (88)% 180% (98)% Profit before tax excluding specific litigation items 5,934 2,082 1,806 1,895 1,177 6,960 2,843 2,342 2,472 2,101 9,757 78% (15)% 40% Profit (loss) 4,892 1,451 52 1,665 337 3,505 2,012 1,733 1,819 1,574 7,139 N/M (13)% 104% Adjustment for specific litigation items 255 46 1,395 (367) 594 1,668 6 (80) 26 74 27 (88)% 180% (98)% Income tax effect from the adjustment for specific litigation items 0 0 (211) 71 (86) (226) 0 16 0 0 16 N/M N/M N/M Profit (loss) excluding specific litigation items 5,147 1,497 1,236 1,369 845 4,947 2,018 1,670 1,846 1,648 7,182 95% (11)% 45% Memo: Cost/income ratio excluding specific litigation items 74.2% 67.6% 69.9% 68.1% 77.9% 70.8% 61.1% 64.6% 64.1% 67.7% 64.3% (10.2)ppt 3.6ppt (6.5)ppt Return ratios Profit (loss) attributable to Deutsche Bank shareholders and additional equity components 4,772 1,422 8 1,633 304 3,366 1,968 1,687 1,773 1,503 6,931 N/M (15)% 106% Adjustment for specific litigation items 255 46 1,395 (367) 594 1,668 6 (80) 26 74 27 (88)% 180% (98)% Income tax effect from the adjustment for specific litigation items 0 0 (211) 71 (86) (226) 0 16 0 0 16 N/M N/M N/M Profit (loss) attributable to Deutsche Bank shareholders and additional equity components excluding specific litigation items 5,027 1,468 1,192 1,337 812 4,808 1,974 1,624 1,800 1,577 6,974 94% (12)% 45% Profit (loss) attributable to additional equity components 560 147 151 172 198 668 193 202 210 205 809 3% (2)% 21% Profit (loss) attributable to Deutsche Bank shareholders excluding specific litigation items 4,467 1,321 1,041 1,165 614 4,140 1,781 1,421 1,590 1,372 6,165 123% (14)% 49% Average allocated shareholders' equity 63,011 65,135 63,910 64,284 65,646 64,763 66,862 65,448 65,263 66,504 66,098 1% 2% 2% Deduct: Average allocated goodwill and other intangible assets 6,434 6,644 6,737 6,752 6,853 6,750 6,939 6,763 6,756 6,842 6,835 (0)% 1% 1% Average allocated tangible shareholders' equity 56,577 58,492 57,173 57,533 58,793 58,013 59,922 58,685 58,508 59,662 59,263 1% 2% 2% Post-tax return on average shareholders' equity1,3 excluding specific litigation items 7.1% 8.1% 6.5% 7.2% 3.7% 6.4% 10.7% 8.7% 9.7% 8.3% 9.3% 4.5ppt (1.5)ppt 5.1ppt Post-tax return on average tangible shareholders' equity1,2,3 excluding litigation items 7.9% 9.0% 7.3% 8.1% 4.2% 7.1% 11.9% 9.7% 10.9% 9.2% 10.4% 5.0ppt (1.7)ppt 5.7ppt Measures and ratios adjusted for nonoperating costs and specific litigation items - Group Non-GAAP financial measures (8/8) NGFM 7 22 For footnotes please refer to page 27.

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ (In € m, unless stated otherwise) FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q4 2025 vs. Q4 2024 Q4 2025 vs. Q3 2025 FY 2025 vs. FY 2024 Earnings per share measure Profit (loss) attributable to Deutsche Bank shareholders after AT1-coupon adjustment (in € m) 4,274 1,422 (566) 1,633 304 2,792 1,968 959 1,773 1,503 6,171 N/M (15)% 121% Weighted-average shares outstanding 2,064 2,013 1,998 1,981 1,982 1,994 1,951 1,969 1,956 1,942 1,955 (2)% (1)% (2)% Adjusted weighted-average shares after assumed conversions 2,104 2,058 1,998 2,026 2,034 2,039 1,998 2,007 2,000 1,987 1,998 (2)% (1)% (2)% Basic earnings per share11 € 2.07 € 0.71 € (0.28) € 0.82 € 0.15 € 1.40 € 1.01 € 0.49 € 0.91 € 0.77 € 3.16 N/M (15)% 125% Diluted earnings per share1,11 € 2.03 € 0.69 € (0.28) € 0.81 € 0.15 € 1.37 € 0.99 € 0.48 € 0.89 € 0.76 € 3.09 N/M (15)% 126% Book value per basic share outstanding Total shareholders' equity (book value) 64,486 65,505 63,634 64,848 66,276 66,276 66,957 64,555 65,521 66,933 66,933 1% 2% 1% Number of shares issued, in million 2,040 1,995 1,995 1,995 1,995 1,995 1,948 1,948 1,948 1,911 1,911 (4)% (2)% (4)% Treasury shares, in million (48) (20) (47) (51) (50) (50) (6) (22) (37) (8) (8) (84)% (79)% (84)% Vested share awards, in million 46 35 37 37 39 39 33 35 36 37 37 (5)% 2% (5)% Basic shares outstanding 2,038 2,010 1,984 1,981 1,984 1,984 1,975 1,961 1,947 1,940 1,940 (2)% (0)% (2)% Book value per basic share outstanding1 € 31.64 € 32.59 € 32.07 € 32.73 € 33.41 € 33.41 € 33.91 € 32.91 € 33.66 € 34.51 € 34.51 3% 3% 3% Tangible book value per basic share outstanding Total shareholders' equity (Book value) 64,486 65,505 63,634 64,848 66,276 66,276 66,957 64,555 65,521 66,933 66,933 1% 2% 1% Deduct: Goodwill and other intangible assets 6,573 6,695 6,779 6,721 6,962 6,962 6,865 6,693 6,781 6,843 6,843 (2)% 1% (2)% Tangible shareholders' equity (tangible book value) 57,913 58,810 56,855 58,127 59,314 59,314 60,092 57,862 58,739 60,091 60,091 1% 2% 1% Number of shares issued, in million 2,040 1,995 1,995 1,995 1,995 1,995 1,948 1,948 1,948 1,911 1,911 (4)% (2)% (4)% Treasury shares, in million (48) (20) (47) (51) (50) (50) (6) (22) (37) (8) (8) (84)% (79)% (84)% Vested share awards, in million 46 35 37 37 39 39 33 35 36 37 37 (5)% 2% (5)% Basic shares outstanding 2,038 2,010 1,984 1,981 1,984 1,984 1,975 1,961 1,947 1,940 1,940 (2)% (0)% (2)% Tangible book value per basic share outstanding1 € 28.41 € 29.26 € 28.65 € 29.34 € 29.90 € 29.90 € 30.43 € 29.50 € 30.17 € 30.98 € 30.98 4% 3% 4% Per share information Per Share Information 23 For footnotes please refer to page 27.

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ Non-GAAP financial measures This document and other documents the Group has published or may publish contain non-GAAP financial measures. Non-GAAP financial measures are measures of the Group’s historical or future performance, financial position or cash flows that contain adjustments that exclude or include amounts that are included or excluded, as the case may be, from the most directly comparable measure calculated and presented in accordance with IFRS in the Group’s financial statements. Return on equity ratios The Group reports a post-tax return on average shareholders’ equity (RoE) and a post-tax return on average tangible shareholders’ equity (RoTE), each of which is a non-GAAP financial measure. The post-tax RoE and RoTE are calculated as profit (loss) attributable to Deutsche Bank shareholders after Additional Tier 1 (AT1) coupon as a percentage of average shareholders’ equity and average tangible shareholders' equity, respectively. Profit (loss) attributable to Deutsche Bank shareholders after AT1 coupon for the segments is a non-GAAP financial measure and is defined as profit (loss) excluding post-tax profit (loss) attributable to noncontrolling interests and after AT1 coupon, which are allocated to segments based on their allocated average tangible shareholders’ equity. For the Group, it reflects the reported effective tax rate which was 27% for FY 2025, 22% for Q4 2025, 26% for Q3 2025, 28% for Q2 2025, 29% for Q1 2025, 34% for FY 2024, 42% for Q4 2024, 26% for Q3 2024, 87% for Q2 2024, 29% for Q1 2024 and 14% for FY 2023. For the segments, the applied tax rate was 28% for all quarters in 2025, FY 2025, for all quarters in 2024, FY 2024 and FY 2023. At the Group level, tangible shareholders' equity is shareholders’ equity as reported in the consolidated balance sheet excluding goodwill and other intangible assets. Tangible shareholders’ equity for the segments is calculated by deducting goodwill and other intangible assets from shareholders’ equity as allocated to the segments. Shareholders’ equity and tangible shareholders’ equity are presented on an average basis. The Group believes that a presentation of average tangible shareholders’ equity makes comparisons to its competitors easier and refers to this measure in the return on equity ratios presented by the Group. However, average tangible shareholders’ equity is not a measure provided for in IFRS, and the Group’s ratios based on this measure should not be compared to other companies’ ratios without considering differences in the calculations. 24 Definition of certain financial measures and other information (1/3)

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ Net assets (adjusted) Net assets (adjusted) are defined as IFRS total assets adjusted to reflect the recognition of legal netting agreements, offsetting of cash collateral received and paid and offsetting pending settlements balances. The Group believes that a presentation of net assets (adjusted) makes comparisons to its competitors easier. Average interest earning assets Interest earning assets are financial instruments or investments that generate interest income in the form of interest payments. Interest earnings assets are averaged on a monthly basis and across quarters and for the full year. Key banking book segments Key banking book segments are defined as Deutsche Bank’s business segments for which net interest income from banking book activities represent a material part of the overall revenue. Allocation of average shareholders’ equity Shareholders’ equity is fully allocated to the Group’s segments based on the regulatory capital demand of each segment. Regulatory capital demand reflects the combined contribution of each segment to the Group’s Common Equity Tier 1 (CET1) ratio, the Group’s leverage ratio and the Group’s capital loss under stress. Contributions in each of the three dimensions are weighted to reflect their relative importance and level of constraint for the Group. Contributions to the CET1 ratio and the leverage ratio are measured through risk-weighted assets (RWA) and leverage ratio exposure. The Group’s capital loss under stress is a measure of the Group’s overall economic risk exposure under a defined stress scenario. Goodwill and other intangible assets are directly attributed to the Group’s segments in order to allow the determination of allocated tangible shareholders’ equity and the respective returns. Shareholders’ equity and tangible shareholders’ equity is allocated on a monthly basis and averaged across quarters and for the full year. Adjusted costs/nonoperating costs Adjusted costs is one of the Group’s key performance indicators and is a non- GAAP financial measure for which the most directly comparable IFRS financial measure is noninterest expenses. Adjusted costs is calculated by deducting (i) impairment of goodwill and other intangible assets, (ii) net litigation charges and (iii) restructuring and severance, in total referred to as nonoperating costs, from noninterest expenses under IFRS. The Group believes that a presentation of noninterest expenses excluding the impact of these items provides a more meaningful depiction of the costs associated with the operating 25 Definition of certain financial measures and other information (2/3)

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ Book value and tangible book value per basic share outstanding Book value per basic share outstanding and tangible book value per basic share outstanding are non-GAAP financial measures that are used and relied upon by investors and industry analysts as capital adequacy metrics. Book value per basic share outstanding represents the bank’s total shareholders’ equity divided by the number of basic shares outstanding at period-end. Tangible book value represents the bank’s total shareholders’ equity less goodwill and other intangible assets. Tangible book value per basic share outstanding is computed by dividing tangible book value by period-end basic shares outstanding. Cost ratios Cost/income ratio: Noninterest expenses as a percentage of total net revenues, which are defined as net interest income before provision for credit losses plus noninterest income. Compensation ratio: Compensation and benefits as a percentage of total net revenues, which are defined as net interest income before provision for credit losses plus noninterest income. Noncompensation ratio: Noncompensation noninterest expenses, which are defined as total noninterest expenses less compensation and benefits, as a percentage of total net revenues, which are defined as net interest income before provision for credit losses plus noninterest income. Other key ratios Diluted earnings per share: Profit (loss) attributable to Deutsche Bank shareholders, which is defined as profit (loss) excluding noncontrolling interests, divided by the weighted-average number of diluted shares outstanding. Diluted earnings per share assume the conversion into common shares of outstanding securities or other contracts to issue common stock, such as share options, convertible debt, unvested deferred share awards and forward contracts. Book value per basic share outstanding: Book value per basic share outstanding is defined as shareholders’ equity divided by the number of basic shares outstanding (both at period-end). Tangible book value per basic share outstanding: Tangible book value per basic share outstanding is defined as shareholders’ equity less goodwill and other intangible assets, divided by the number of basic shares outstanding (both at period-end). Tier 1 capital ratio: Tier 1 capital, as a percentage of the RWA for credit, market and operational risk. Common Equity Tier 1 capital ratio: Common Equity Tier 1 capital, as a percentage of the RWA for credit, market and operational risk. Leverage ratio: Tier 1 capital, as a percentage of the leverage exposure. Net interest margin: For Group and divisions, net interest income (before provision for credit losses) as a percentage of average total interest earnings assets. Net interest margins per division are based on their contribution to the Group results. Average yield on loans: Interest income on loans as a percentage of average loans at amortized cost based upon month-end balances. Provision for credit losses (bps of loans): Provision for credit losses annualized as basis points of average loans gross of allowances for loan losses, based upon month-end balances. 26 Definition of certain financial measures and other information (3/3)

Deutsche Bank Q4 2025 Financial Data Supplement _________________________________________________________________________________________________________________________________________ 1. Definitions of certain financial measures are provided on pages 24-26 of this document 2. The reconciliation of average tangible shareholders‘ equity is provided on pages 15-22 of this document 3. Based on profit (loss) attributable to Deutsche Bank shareholders (post-tax) 4. Twelve months period until the end of the respective reporting period compared to full year 2021 5. At period-end 6. The reconciliation of adjusted costs/nonoperating costs is provided on pages 15-22 of this document 7. Pre-provision profit defined as net revenues less noninterest expenses 8. Sustainable financing and ESG investment activities are defined in the “Sustainable Finance Framework” and “Deutsche Bank ESG Investments Framework” which are available at investor- relations.db.com; in cases where validation against the Frameworks cannot be completed before the end of the reporting quarter, volumes are disclosed upon completion of the validation in subsequent quarters 9. Includes Sustainable financing and ESG investment activities of € 10.1 billion in C&O in Q3 2024 10. Operating leverage is calculated as the difference between year-on-year change in percentages of reported net revenues and year-on-year change in percentages of reported noninterest expense 11. The tax impact is recognized in net income (loss) directly; accordingly, earnings were adjusted by € 761 million before tax in 2025 for the coupons paid on AT1 notes, thereof € 728 million in April 2025 and € 32 million in October 2025; in April 2024 and May 2023 earnings were adjusted by € 574 million and € 498 million respectively; the coupons paid on AT1 notes are not attributable to Deutsche Bank shareholders and therefore need to be deducted in the calculation in accordance with IAS 33; diluted earnings per common share include the numerator effect of assumed conversions; in case of a net loss potentially dilutive shares are not considered for the earnings per share calculation, because to do so would decrease the net loss per share 12. Includes AT1 notes, which constitute unsecured and subordinated notes of Deutsche Bank and are classified as equity in accordance with IFRS 13. Includes net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss, net commission and fee income and remaining revenues 14. Segment assets represent consolidated view, i.e. the amounts do not include intersegment balances (except for central liquidity reserves, shorts coverage, liquidity portfolio and repack reallocations, regarding assets consumed by other segments but managed by CB/IB) 15. Contains Group-neutral reallocation of central liquidity reserves to business divisions 16. Based on the implemented reporting logic the full year 2023 number is based on spot value as of December 31, 2023 17. Assets under management include assets held on behalf of customers for investment purposes and/or assets that are advised or managed by Deutsche Bank; they are managed on a discretionary or advisory basis or are deposited with Deutsche Bank 18. Annualized management fees divided by average assets under management 19. IFRS 9 introduced a three stage approach to impairment for financial assets that are not credit-impaired at the date of origination or purchase. This approach is summarized as follows: Stage 1: The Group recognizes a credit loss allowance at an amount equal to 12-month expected credit losses Stage 2: The Group recognizes a credit loss allowance at an amount equal to lifetime expected credit losses for those financial assets which are considered to have experienced a significant increase in credit risk since initial recognition Stage 3: The Group recognizes a loss allowance at an amount equal to lifetime expected credit losses, reflecting a probability of default of 100%, via the expected recoverable cash flows for the asset, for those financial assets that are credit-impaired; POCI = Purchased or Originated Credit Impaired 20. Financial assets at amortized cost consist of loans at amortized cost, cash and central bank balances, interbank balances (w/o central banks), central bank funds sold and securities purchased under resale agreements, securities borrowed and certain subcategories of other assets 21. Allowance for credit losses does not include allowance for country risk for amortized cost and off-balance sheet positions 22. Net charge-offs as percentage of average loans at amortized costs in the respective year to date period 23. Beginning in December 2025, Deutsche Bank revised the allocation of (tangible) shareholders’ equity to more accurately assess the shareholder value generated by Asset Management. As part of this adjustment, approximately € 1 billion of CET1 capital contributed to Deutsche Bank Group by DWS minority shareholders is now recognized as a reduction in the equity allocated to the Asset Management segment. Previously, this minority interest benefit, which is part of regulatory own funds, was reflected in Corporate & Other. This change affects only the Asset Management segment and does not impact the metrics of Deutsche Bank Group or the bank’s other operating segments. As the implementation began in December 2025, the change impacts the financials for the fourth quarter and the full year 2025. No adjustments were made to prior months’ capital allocation, resulting in a phased effect on the 2025 financials. The full impact will be visible in the 2026 financial year 24. Other funding effects represent banking book net interest income arising primarily from Treasury funding activities that are not allocated to the key banking book segments but are allocated to other segments or held centrally in C&O 25. Accounting asymmetry primarily arises from funding costs associated with trading positions where the funding cost is reported in net interest income but is offset by revenues on the underlying positions recorded in noninterest revenues. Conversely, it can also arise from the use of fair valued instruments to hedged key banking book segments positions where the cost or income of the underlying position is recorded as interest income, but the hedge impact is recorded as a noninterest revenue. These effects primarily occur in the Investment Bank (ex FIC Financing), Asset Management and C&O including Treasury other than held in the key banking book segments 27 Footnotes

db20260129993

Deutsche Bank Investor Relations January 29, 2026 Q4/FY 2025 results Exhibit 99.3

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Delivering on 2025 goals sets firm foundation to scale the Global Hausbank FY 2025  € 32bn revenue ambition achieved with continued business momentum  Executed € 2.5bn operational efficiencies and self-funded transformation  Achieved sustainable profitability through positive operating leverage  Delivered € 31bn RWA optimization alongside organic capital generation  Full commitment to deliver the next phase of strategic execution 2 Notes: throughout this presentation totals may not sum due to rounding differences and percentages may not precisely reflect the absolute figures; for footnotes refer to slides 42 and 43 € 8.5bn Capital distribution since 20223 14.2% CET1 ratio 10.3% Return on tangible equity (RoTE)2 Achieved 6.0% Revenue CAGR FY 2021-251 64% Cost/income ratio (CIR)

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 A transformed bank delivering increasing profitability In € bn, unless stated otherwise 3 Pre-provision profit1 Revenues Notes: for footnotes refer to slides 42 and 43 FY 2021 FY 2022 FY 2023 FY2024 FY 2025 25.4 27.2 28.9 30.1 32.1 +7% FY 2021 FY 2022 FY 2023 7.1 1.7 FY 2024 FY 2025 3.9 6.8 7.2 8.8 11.4 +30% 75% M o re p re d ic ta b le re v e n u e stre a m s 3 Noninterest expenses FY 2021 FY 2022 FY 2023 1.7 21.3 FY 2024 FY 2025 21.5 20.4 21.7 23.0 20.7 (10)% +26% Positive operating leverage of 17% in FY 2025, driving significant profit growth Continued franchise momentum from diversified and complementary revenue mix Disciplined cost management to self-fund growth and deliver flat adjusted costs in 2025 Specific litigation items2 ~3x (4)%

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Disciplined strategy execution driving higher returns across all businesses Significantly enhanced collaboration across divisions of the Global Hausbank 4 Notes: IBCM – Investment Banking & Capital Markets, FIC – Fixed Income & Currencies; for footnotes refer to slides 42 and 43 CIR  Significantly increased revenues by >40% since FY 2021; well-positioned to further leverage global network and deep client relationships  Sustainable growth in 2025 in commission and fee generating businesses coupled with strong deposit base, laying the foundation to accelerate growth Corporate Bank Well-positioned for profitable growth 88% FY 2021 62% FY 2025 4% FY 2021 15% FY 2025  Substantial divisional revenue and profitability increase since FY 2021, while repositioning IBCM for future growth  Supporting clients through continued strength of FIC franchise, with client activity increasing 11% YoY Investment Bank Continued focus on supporting client needs 58%63%11%9%  Two distinct businesses with leading investment advisory and lending capabilities attracting € 110bn net new assets since FY 2021  Deep business transformation enabling 11% operating leverage in FY 2025, driving significant profitability increase Private Bank Delivering on transformation and growth 70%96%10%(2)%  Leading German and European asset manager2, with strengthened position as a Gateway to Europe, supported by global scale across all major asset classes  Attracted ~€ 85bn net new assets since FY 2021 with assets under management surpassing € 1 trillion Asset Management Clients’ Gateway to Europe 59%62%26% RoTE1 29% 3

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Creating value and returning capital to shareholders 5 0.3 0.4 2022 0.5 0.6 2023 0.7 0.9 2024 1.0 1.3 2025 1.0 1.9 2026 0.7 1.1 1.6 2.3 2.9 Share buyback, in € bn Dividend, in € bn € 8.5bn Cumulative capital distributions since 20221 € 2.9bn Proposed capital distribution in respect of FY 2025, of which: € 1.0bn authorized buyback € 1.00 proposed dividend per share Completed Proposed to date Notes: for footnotes refer to slides 42 and 43 Exceeded the shareholder distributions targetContinuously growing tangible book value per share Tangible book value per basic share outstanding Payout details FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 € 24.73 € 26.70 € 28.41 € 29.90 € 30.98 +25%

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Fully focused on delivering the next phase of strategic agenda Set out new medium-term targets and objectives at the Investor Deep Dive 20251 6 Scaling the Global Hausbank The European Champion as a long-term vision European leadership across key segments AI-powered and innovation-focused bank Market-leading returns Deep and scaled global presence and network Notes: CAGR - compound annual growth rate; for footnotes refer to slides 42 and 43 Strict capital discipline Scalable operating model Focused growth Long-term vision anchored in client-centric purpose and strong culture >13% RoTE 2028 +100bps Revenue/RWA2 ratio 2028 vs 2025 <60% CIR 2028 >5% Group revenue CAGR (2025-28) 13.5–14.0% CET1 operating range3Financial resilience 60% payout ratio + excess capital Capital objective Committed to deliver >13% RoTE, with further upside

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 7 Group financials

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Key performance indicators In % 8 CIR developmentRevenue CAGR1 FY 2025 vs FY 2021 11.2 CET1 ratio developmentRoTE development >10% FY 2025 target 5.5-6.5% Group revenue CAGR target 2021-2025 <65% FY 2025 target 13.5-14.0% capital objective Delivered on all full-year targets for 2025 Sound liquidity and funding base, with LCR2 at 144% and NSFR3 at 119% in Q4 Significant improvement in RoTE and CIR Solid capital ratios, benefiting from strong earnings; CET1 ratio reflects € 2.9bn deduction for anticipated dividend and share buyback in respect of FY 2025 Notes: LCR – liquidity coverage ratio, NSFR – net stable funding ratio; for footnotes refer to slides 42 and 43 85 75 75 76 64 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 YE 2021 YE 2022 YE 2023 YE 2024 YE 2025 13.2 13.4 13.7 13.8 14.2 0 3 4.6 CB IB PB AM Group 9.5 4.6 4.1 3.2 6.0 FY 2021 6.7 ex-DTA FY 20224 5.6 ex-DTA FY 20235 FY 2024 FY 2025 3.8 9.4 7.4 4.7 10.3

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 FY 2025 and Q4 2025 highlights In € bn, unless stated otherwise 9 Notes: C&O – Corporate & Other, TBV – tangible book value; for footnotes refer to slides 42 and 43 Q4 2025 divisional revenuesFinancial results FY 2025 divisional revenues 1.9 2.4 2.4 0.7 (0.1) Q4 2024 1.8 2.5 2.4 0.9 0.1 Q4 2025 7.2 7.7 +7% (2)% +5% +3% +25% Δ vs. Q4 2024 Corporate Bank Investment Bank Private Bank Asset Management C&O 7.5 10.6 9.4 2.6 (0.0) FY2024 7.4 11.5 9.7 3.1 0.4 FY 2025 30.1 32.1 +7%+7% (1)% +9% +3% +16% Δ vs. FY 2024 Q4 2025 Δ vs. Q4 2024 Δ vs. Q3 2025 FY 2025 Δ vs. FY 2024 Statement of income Revenues 7.7 7% (4)% 32.1 7% Provision for credit losses 0.4 (6)% (5)% 1.7 (7)% Noninterest expenses 5.3 (15)% 2% 20.7 (10)% Adjusted costs1 5.1 (3)% 2% 20.3 (1)% Profit (loss) before tax 2.0 n.m. (17)% 9.7 84% Pre-provision profit1 2.4 141% (15)% 11.4 61% Profit (loss) 1.6 n.m. (13)% 7.1 104% Balance sheet and resources Average interest earning assets 1,046 3% 2% 1,036 4% Loans2 479 (1)% 1% 479 (1)% Deposits 692 4% 4% 692 4% Sustainable Finance volumes (cumulative)3 471 26% 7% 471 26% Risk-weighted assets 347 (3)% 2% 347 (3)% Leverage exposure 1,327 1% 2% 1,327 1% Performance measures and ratios RoTE 8.7% 8.0 ppt (2.0)ppt 10.3% 5.7 ppt Cost/income ratio 68.6% (17.5)ppt 4.2 ppt 64.4% (12.0)ppt Provision for credit losses, bps of avg. loans4 33 (2)bps (2)bps 36 (2)bps CET1 ratio 14.2% 36bps (30)bps 14.2% 36bps Leverage ratio 4.6% (4)bps (3)bps 4.6% (4)bps Per share information Diluted earnings per share € 0.76 n.m. (15)% € 3.09 126% TBV per basic share outstanding € 30.98 4% 3% € 30.98 4%

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 10 Group development Key banking book segment1 development Notes: for footnotes refer to slides 42 and 43 Net interest income (NII) / Net interest margin (NIM) In € bn, unless stated otherwise Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 1.2 1.2 1.2 1.1 1.1 1.5 1.5 1.5 1.6 1.6 0.7 0.7 0.8 0.7 0.8 Net interest margin Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 3.7 3.7 3.8 3.9 4.3 3.4 0.3 3.2 0.4 3.4 0.5 3.3 0.6 3.4 0.8 Key banking book segments and other funding1 Accounting asymmetry driven2 C o rp o ra te B a n k F IC F in a n c in g P ri v a te B a n k 2.3% 1.4% 3.8% 3.6% 2.4%2.3% 1.5%1.4% 1.5% 3.4% 2.6% 2.9% 2.7% 1.6% 3.6% 3.4% 2.5% 2.7% 2.9% 2.9% Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Adjusted costs – Q4 2025 and FY 2025 (YoY) In € m, unless stated otherwise 11 Notes: for footnotes refer to slides 42 and 43 FY 2025 417 148 (106) (92) (305) 20,235 20,149 20,297 xxxx  Maintained cost discipline through the fourth quarter; adjusted costs excluding bank levies reduced 2% year on year in line with expectations  Compensation and benefits1 costs in Q4 up 7% year on year, driven by higher accruals for performance related compensation  Broad-based reductions across all major non-compensation categories in Q4, including lower real estate charges  FY 2025 adjusted costs excluding bank levies broadly flat year on year; increased compensation expenses from higher performance-related payments offset by reductions across non-compensation costs as well as favorable FX translation effects 188 94 Compensation and benefits1 (35) Information technology (27) Professional services (221)Other FY/Q4 2025 ex- bank levies Bank levies FY/Q4 2025 5,138 5,042 5,136 FY/Q4 2024 ex- bank levies xxxx FX impact (208) (46) (48) (315) (13) (0)%(2)% FX impact (108) (28) (37) (179) (7) Q4 2025

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 12 Provision for credit losses In € m, unless stated otherwise Notes: for footnotes refer to slides 42 and 43 Annual development Quarterly development 415 341 300 357 532 130 123 (137) 6 Q4 Q1 Q2 60 Q3 Q4 Stage 1+2 Stage 3 2024 2025 783 851 578 266 347 194 431 549 827 25 FY 2023 82 FY 2024 107 FY 2025 IB CB PB Other Key highlights  Overall provisions lower quarter on quarter as increase in Stage 3 was offset by releases in Stages 1 and 2  Net releases in Stages 1 and 2 provisions mainly driven by improved macroeconomic forecasts; additional benefits from portfolio effects partially offset by net increase in overlays  Key Stage 3 drivers were higher provisions in the Corporate Bank and CRE-related provisions in the Investment Bank including one larger single-name event  Overall portfolio quality remains stable, and we continue to anticipate lower provisioning levels in 2026 420 471 423 417 395 Provision for credit losses1 38 3631 35 39 35 3336 In bps of average loans1 1,505 1,830 1,707 Provision for credit losses In bps of average loans

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Capital metrics Movements in basis points (bps), unless stated otherwise, period end 13  Leverage ratio down by 3bps compared to Q3 2025:  6bps decrease due to discontinuation of OCI filter4  10bps decrease from higher leverage exposure, mainly driven by cash and reverse repo  13bps increase from Tier 1 capital change excluding OCI filter impact, mainly driven by € 1.0bn AT1 issuance in November and CET1 capital movements  € 10bn of Tier 1 capital buffer over leverage requirement  CET1 ratio down by 30bps compared to Q3 2025, slightly above the upper end of the operating range  44bps decrease driven by removal of the OCI filter4 and operational risk RWA, as previously anticipated  8bps decrease mainly from market risk RWA, with credit growth offset by securitization benefit  21bps increase from capital effects, principally driven by Q4 2025 earnings net of deductions for AT1 coupon and dividends  € 10bn of CET1 capital buffer over CET1 requirement Surplus above requirements Notes: OR RWA – Operational risk RWA; for footnotes refer to slides 42 and 43 21 Q3 2025 1 FX effect (44) OCI filter removal4 & OR RWA (8) RWA change Capital change Q4 2025 14.5% 14.2% 13 Q3 2025 0 FX effect (6) OCI filter removal4 (10) Leverage exposure change Capital change Q4 2025 4.6% 4.6% CET1 ratio1 Leverage ratio1 MREL / TLAC, in € bn 16 47 7 12 49 Q4 2025 available MREL/TLAC1,3 Senior preferred2 Senior non-preferred T2 AT1 CET1 131 23 108 MREL requirement 25 90 TLAC requirement

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 14 Segment results

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Corporate Bank In € m, unless stated otherwise 15 Financial results Revenue performance Key highlights  Solid financial performance with full-year RoTE above 15% and cost/income ratio of 62%  Revenues remained stable sequentially, as strong deposit volume growth offset the impact of lower deposit margins  Compared to the prior year period, margin normalization and FX headwinds were largely offset  Significant growth in sight deposits in Corporate Cash Management underscores the strength of client relationships and product capabilities  Loans increased slightly with growth in flow and structured Trade Finance  Noninterest expenses essentially flat sequentially and down year on year due to non-recurrence of a litigation matter  Provision for credit losses driven by Stage 3 provisions after low levels in previous quarters 455 318 C o rp o ra te T re a su ry S e rv ic e s In st it u ti o n a l C li e n t S e rv ic e s B u si n e ss B a n ki n g C or p or at e B an k 1,049 1,822 (1)% (5)% (4)% (2)% Δ vs. Q4 2024 Notes: for footnotes refer to slides 42 and 43 Q4 2025 Δ vs. Q4 2024 Δ vs. Q3 2025 Statement of income Revenues 1,822 (2)% 0% Provision for credit losses 99 n.m. n.m. Noninterest expenses 1,158 (23)% 1% Adjusted costs1 1,140 (2)% 0% Profit (loss) before tax 564 66% (16)% Pre-provision profit1 663 83% (0)% Balance sheet and resources Loans, in € bn2 120 2% 2% Deposits, in € bn 329 5% 8% Leverage exposure, in € bn 358 5% 8% Risk-weighted assets, in € bn 72 (8)% 2% Provision for credit losses, bps of avg. loans3 34 26bps 35bps Performance measures and ratios Net interest margin 3.4% (0.4)ppt 0.0ppt Cost/income ratio 63.6% (17.0)ppt 0.2ppt RoTE4 13.4% 6.2ppt (2.7)ppt

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Investment Bank In € m, unless stated otherwise 16 Financial results Revenue performance Key highlights +6% (4)% n.m. +5% Δ vs. Q4 2024 495 28 881 F ix e d I n c o m e & C u rr e n c ie s In v e st m e n t B a n ki n g & C a p it a l M a rk e ts R e se a rc h & O th e r In ve st m en t B an k 1,9901,109 2,514 Financing +6% YoY Markets +7% YoY  Revenues slightly higher year on year, driven by strength in FIC  FIC revenues increased driven by FIC Markets performance, specifically Foreign Exchange and Emerging Markets  Financing revenues were also slightly higher reflecting ongoing momentum seen throughout the year  IBCM revenues were slightly lower driven by a reduction in Advisory compared to a very strong prior year quarter  Capital Markets performance was broadly flat, with higher Equity Origination revenues offsetting slightly lower Debt Origination  Costs essentially flat reflecting continued discipline  Provision for credit losses was essentially flat year on year with increased Stage 3 provisions offset by lower Stage 1 and 2 provisions Notes: for footnotes refer to slides 42 and 43 Q4 2025 Δ vs. Q4 2024 Δ vs. Q3 2025 Statement of income Revenues 2,514 5% (16)% Provision for credit losses 97 (3)% (68)% Noninterest expenses 1,722 (3)% 1% Adjusted costs1 1,690 (1)% 3% Profit (loss) before tax 685 32% (29)% Pre-provision profit1 792 28% (38)% Balance sheet and resources Loans, in € bn2 115 5% 4% Deposits, in € bn 28 26% 9% Leverage exposure, in € bn 602 2% 1% Risk-weighted assets, in € bn 136 5% 4% Provision for credit losses, bps of avg. loans3 34 (3)bps (77)bps Performance measures and ratios Cost/income ratio 68.5% (5.6)ppt 11.3ppt RoTE4 7.2% 2.1ppt (3.5)ppt

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Private Bank In € m, unless stated otherwise 17 Financial results Revenue and AuM performance Key highlights Revenues (1)% +10% +3% 369 374 131 134 106 106 68 Q3 2025 70 Q4 2025 675 685 PeB - Deposits WM - Deposits PeB - Inv. Prod. WM - Inv. Prod. (0.1)0.6 Q4 2025 1.9 3.6 (2.2) Δ vs. Q4 2024 P e rs o n a l B a n ki n g W e a lt h M g m t. P ri va te B an k 1,358 1,082 2,440 Notes: PeB – Personal Banking, WM – Wealth Management; for footnotes refer to slides 42 and 43 Net flows, in € bn6AuM, in € bn6  Strong operating leverage in Q4 of 14% supports delivery of above 10% RoTE for FY 2025  Rising revenues with NII up 10% year on year driven by deposit growth and benefits from hedge rollover  Both client segments with higher revenues from deposits, supported by successful campaigns in Germany, and investment products  Full year net inflows of € 27bn with € 2bn in Q4  Loan and RWA development in line with strategy to focus on capital light products  Noninterest expenses down 11%, driven by sustained cost efficiencies including branch closures and workforce reductions, as well as lower restructuring and severance cost  Provision for credit losses returned to a more normalized level Q4 2025 Δ vs. Q4 2024 Δ vs. Q3 2025 Statement of income Revenues 2,440 3% 1% Provision for credit losses 157 (44)% 85% Noninterest expenses 1,712 (11)% 4% Adjusted costs1 1,671 (3)% 3% Profit (loss) before tax 570 n.m. (17)% Pre-provision profit1 728 65% (5)% Balance sheet and resources Assets under management, in € bn2 685 8% 2% Loans, in € bn3 247 (4)% (1)% Deposits, in € bn 329 3% 1% Leverage exposure, in € bn 326 (3)% (2)% Risk-weighted assets, in € bn 92 (5)% (1)% Provision for credit losses, bps of avg. loans4 25 (18)bps 12bps Performance measures and ratios Net interest margin 2.6% 0.3ppt 0.1ppt Cost/income ratio 70.2% (11.2)ppt 2.0ppt RoTE5 10.3% 8.4ppt (2.4)ppt

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 18 Financial results Revenue and AuM performance Key highlights +4% +60% +25% n.m. Net flows, in € bn AuM, in € bn2 (2.3) 0.3 1.1 Q4 2025 10.5 4.8 6.6 Revenues Δ vs. Q4 2024 Asset Management In € m, unless stated otherwise 674 173 41 888 M g m t. fe e s P e rf . & tr a n s. fe e s O th e r A M Notes: for footnotes refer to slides 42 and 43 453 460 376 395 100 10618 107 Q3 2025 16 108 Q4 2025 1,054 1,085 Advisory Cash Alternatives Passive Active ex-Cash  Profit before tax increased by 73% year on year driven by higher revenues  Noninterest expenses remained essentially flat reflecting disciplined cost management, resulting in the CIR declining to 55%  Operating leverage improved significantly, driving a 20ppts year-on-year increase in RoTE to 41%4  Sustained strong momentum, reflected in 7% year-on-year AuM growth, supported by steady annual net inflows  Quarterly net inflows of € 10bn driven by continued growth in the Passive business, including Xtrackers Q4 2025 Δ vs. Q4 2024 Δ vs. Q3 2025 Statement of income Revenues 888 25% 21% Provision for credit losses 0 n.m. n.m. Noninterest expenses 485 3% 12% Adjusted costs1 473 2% 10% Profit (loss) before tax 317 73% 33% Pre-provision profit1 402 71% 34% Balance sheet and resources Assets under management, in € bn2 1,085 7% 3% Net flows, in € bn 10 (43)% (13)% Leverage exposure, in € bn 10 1% 5% Risk-weighted assets, in € bn 16 (16)% 10% Performance measures and ratios Management fee margin, in bps 24.8 (1.1)bps (0.3)bps Cost/income ratio 54.7% (12.1)ppt (4.3)ppt RoTE3,4 41.0% 20.4ppt 12.9ppt

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Outlook 19 Delivery on all targets and objectives lays firm foundation to scale the Global Hausbank Continued year-on-year improvements in full-year operating performance Provision for credit losses expected to trend moderately downwards Increasing payout ratio to 60% from 2026; aim to deliver further shareholder distributions in respect of FY 20261 Business momentum in 2026 to date supports our revenue trajectory and investment plans Notes: for footnotes refer to slides 42 and 43

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 20 Appendix

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 2028 financial targets and capital objectives 21 Notes: for footnotes refer to slides 42 and 43 <60% Cost/income ratio >13% RoTE 13.5-14.0% CET1 ratio operating range1 Financial targets Capital objectives 60% Payout ratio Excess capital + 2026-2028

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Delivered increasing shareholder distributions 22 Increasing payout ratio of 60% in respect of FY 2026-2028 and expect continuous growth in dividend per share going forward Cumulative completed and proposed capital distributions of € 8.5bn since 2022, outperforming total distributions target of € 8bn1 Discretion to deploy and distribute excess capital when CET1 ratio sustainably >14% Organic capital generation from net income and improved capital efficiency support shareholder distributions, as well as business growth Completed buybacks / dividends Proposed buybacks / dividends 300 450 675 2022 2023 2024 2025 2026 to date 1,000 1,000 Share buybacks Executed in FY, in € m 406 610 883 2022 2023 2024 2025 2026 1,315 ~1,900 Dividends Paid in FY, in respect of previous FY, in € m € 0.68 € 0.45 € 0.30 € 0.20 Per share Plan to propose € 1.00 dividend per share (~€ 1.9bn) and received authorization for € 1.0bn share buyback in respect of FY 2025, consistent with the 50% payout ratio objective € 1.00 +50% p.a. +50% p.a. Notes: for footnotes refer to slides 42 and 43 Payout trajectory details

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Sustainability Q4 2025 highlights 23 Sustainable Finance1 volumes € 471bn Cumulative volumes since 20201 € 900bn New target2 Reported volumes by segment and product type, in € bn QoQ deltaxx +20 +7 +4 (0)91 62 9 192 98 1 Investment Bank Corporate Bank 17 Private Bank Corporate & Other 291 80 Financing Issuance Market making AuM Pension plan assets Notes: for footnotes refer to slides 42 and 43 Recent achievements  Second highest quarterly Sustainable Finance volumes1 of € 31bn bringing FY 2025 volumes to € 98bn, the highest annual level since 2021 lifting cumulative Sustainable Finance volumes to € 471bn since 2020  Deutsche Bank set new cumulative € 900bn sustainable and transition finance target for the period from 2020 to the end of 2030, reinforcing its role as a trusted partner for its clients in the global transformation2  The bank introduced a nature ambition by facilitating 300 nature-related transactions by the end of 2027  It acted as Joint Global Coordinator on China Water Affairs Group Ltd USD 150m 5-year Blue Bond; an amount equal to the net proceeds will be allocated to finance or refinance eligible projects under its Green and Blue Framework such as Clean Water or Sanitation  AUD 3bn in Certified Green Loans - the largest CBI3 green loan certification in 2025 - was refinanced and upsized for Intellihub Group; the financing supports the large-scale rollout of smart meters and energy devices across Australia and New Zealand, enabling Intellihub to more than double its current reach of over three million households by 2030  Joint Lead Arranger on a senior credit facility to the German FlixTrain to finance 30 high-speed energy-efficient electric train sets; this aligns with the growing demand for eco-friendly transportation and supports Flix’s target of reduction by ~41% of emission intensity (gCO2e/pkm) until 2032 Sustainable Finance  Deutsche Bank published its initial Transition Finance Framework (effective January 1, 2026), defining clear rules for financing net-zero transitions in hard-to-abate sectors Policies & Commitments  Deutsche Bank’s score in CDP4 improved to A/Leadership level; this marks the first time that Deutsche Bank is on CDP’s A list  As part of the "Global Hausbank in Motion" initiative, the bank donated € 550k to 28 educational charities People & Own Operations  At COP30, Honduras and Suriname signed a Letter of Intent with Deutsche Bank, Bayer, Siemens and Symrise to mobilize financial support for rainforest protection; the strategic goal of all parties is to develop rainforest-based Internationally Transferred Mitigation Outcomes (ITMOs) under Article 6.2 of the Paris Agreement; the bank hosted a full day event, “Mobilizing Capital Markets for the Protection of Rainforests”  Deutsche Bank, Great Yellow and Swallowtail Consulting signed a Letter of Intent to develop UK biodiversity credits  Bank received two deal awards from “Global Banking & Markets: CEE, Central Asia & Türkiye Awards” in the categories “Ground-Breaking Deal of the Year” and “Deal of the Year “ for a Slovenia sustainability-linked bond Thought Leadership & Stakeholder Engagement

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Indicative divisional currency mix Q4 2025 24 Net revenues Noninterest expenses 65% 43% 88% 59% 63% 21% 17% 37% 5% 15% 23% 18% 18% 7% 4% 12% 0% CB 3% IB 0% PB AM 2% Group EUR GBP USD Other1 55% 8% 84% 52% 46% 6% 42% 23% 20% 19% 34% 6% 25% 16% 19% 17% 10% 18% CB IB 1% PB 0% AM Group Notes: classification is based primarily on the currency of DB Group’s office, in which the revenues and noninterest expenses are recorded and therefore only provide an indicative approximation; for footnotes refer to slides 42 and 43

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 25 Income from long-term hedge portfolio (excl. equity)1 Interest rate hedge In € bn, unless stated otherwise Key highlights  Hedge contribution expected to grow further with limited sensitivity to short-term rates  Hedge income growth for 2026 driven by hedges already executed over last years  Long-term hedge notional excluding equity hedges stayed at ~€ 200bn  Average hedge duration of ~4-5 years (i.e. more than 90% of hedge NII locked in already for 2026) Average yield Notes: for footnotes refer to slides 42 and 43 2.5% 2024 2.6% 2025 2.9% 0.4% 3.3 0.2 2026 3.1% 1.1% 3.3 0.7 2027 3.2% 1.4% 3.0 1.4 2028 2.4 2.9 3.6 4.0 4.4 10y EUR swap Yield of maturing EUR hedges Locked-in Roll-over 1.2% 1.5% 1.8% 2.0% 2.2% Illustrative EUR roll-over benefit

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Net interest income (NII) sensitivity Hypothetical +/-25bps shift in yield curve, in € m 26 Net interest income (NII) sensitivity1 Breakdown of sensitivity by currency for +25bps shift in yield curve Notes: for footnotes refer to slides 42 and 43 ~55 ~(40) 2026 ~90 ~(85) 2027 ~145 ~(140) 2028 +25bps shift in yield curve -25bps shift in yield curve ~20 ~50 ~95 EUR ~15 ~15 ~25 ~20 ~25 ~25 USD Other 2026 2027 2028 2026 2027 20282026 2027 2028

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Group Trading Book Value-at-Risk (VaR) and stressed Value-at-Risk (sVaR)1 As of December 31, 2025, in € m, 99% confidence level 27 (600) (500) (400) (300) (200) (100) 0 100 200 300 400 500 (80) (40) 0 40 80 120 160 1-day VaR (LHS axis) 10-day sVaR (RHS axis)Trading P&L (LHS axis) Q1 2025 Q2 2025 Q3 2025 Q4 2025 Trading P&L2, VaR sVaR  33 27 27  26  191  207  140  211 Notes: averages refer to 1-day VaR and 10-day sVaR of each quarter respectively; LHS – left-hand side, RHS – right-hand side, P&L – profit and loss; for footnotes refer to slides 42 and 43

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Loan and deposit development In € bn, unless stated otherwise; loan-to-deposit ratio 69% 28 Loan development1,2 Key highlights Deposit development2  Loans increased by € 3bn, or 1%, during the quarter adjusted for FX, driven by € 6bn growth in operating businesses:  Sustained growth momentum in the Investment Bank’s FIC Financing business driven by new loan originations and a portfolio acquisition  Growth in Corporate Bank portfolio driven by flow and structured Trade Finance business  Strategic focus on capital-light products driving further mortgage reductions in Private Bank  Repayment of legacy position in Corporate Center and hedge accounting effects as partial offset 257 253 248 248 247 117 116 117 118 120 110 112 108 111 115 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Private Bank Corporate Bank Investment Bank 485 479482 472 476  Deposits increased by € 29bn, or 4%, during the quarter adjusted for FX:  Strong momentum in Corporate Bank sight deposit portfolio, with some normalization expected in first quarter  Continued growth in Private Bank supported by ongoing campaigns in Germany  In 2026, our focus remains on growing SVA accretive deposits in Private Bank and Corporate Bank 320 318 318 325 329 313 313 302 305 329 22 Q4 2024 27 Q1 2025 24 Q2 2025 25 Q3 2025 28 Q4 2025 Private Bank Corporate Bank Investment Bank 653665666 663 692 2% (1)% 5% (2)% 4% 14% FX-adjusted3 3%1% QoQ YoY 8% 1% 10% 4% FX-adjusted3 7%4% QoQ YoY Notes: QoQ – quarter-on-quarter, YoY – year-on-year; for footnotes refer to slides 42 and 43

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Loan book composition Q4 2025, IFRS loans: € 479bn1 29 Key highlights  52% of loan portfolio in Private Bank, consisting of retail mortgages mainly in Personal Banking (Germany) and collateralized lending in Wealth Management  25% of loan portfolio in Corporate Bank, predominantly in Corporate Treasury Services (Trade Finance & Lending and Cash Management mainly to corporate clients) followed by Business Banking (various loan products primarily to SME clients in Germany)  24% of loan portfolio in Investment Bank, comprising well- secured, mainly asset backed loans, commercial real estate loans and collateralized financing Private BankInvestment Bank OtherCorporate Bank 30% 2% 5% 2% 12% 21% 4% 4% 7% 13% German Mortgages and Home Loans & Savings International Mortgages Consumer Finance Business Finance Wealth Management 0% Other PB Corporate Treasury Services4 Business Banking Commercial Real Estate Asset Backed Securities 1% Leveraged Debt Capital Markets Other IB3 0% Other2 Notes: SME - small and medium-sized enterprises; for footnotes refer to slides 42 and 43

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Provision for credit losses and Stage 3 loans 30 Stage 3 at amortized cost, in € bn Group CB PB IB 0.6 3.5 3.0 7.9 Q4 2024 0.6 2.9 2.7 7.4 Q1 2025 0.6 3.6 2.6 7.4 Q2 2025 0.6 4.0 2.6 7.2 Q3 2025 0.6 4.4 2.7 7.2 Q4 2025 15.8 14.3 14.9 15.0 15.5 PB (ex-POCI) CB (ex-POCI) IB (ex-POCI) POCI Coverage ratio3,4 Group Stage 3 loans at amortized cost %2 3.3% 3.0% 3.1% 29% 33% 21% 33% 3.2% 3.2% Notes: provision for credit losses in the Corporate & Other and Asset Management segments are not shown on this chart but are included in Group totals; for footnotes refer to slides 42 and 43 Provision for credit losses, in € m Group CB PB IB 36 8 94 19 39 27 34 58 278 219 118 85 157 77 308 99 101 163 259 9723 Q4 2024 Q1 2025 22 Q2 2025 (4) Q3 2025 Q4 2025 420 471 423 417 395 Private Bank Corporate Bank Investment Bank Provision for credit losses (bps of loans)1 (1) 14 112 35 17 23 74 3635 8 43 37 33 34 25 34 578 194 827 FY 2025 1,707 31% 38% 37% 18% 38% 36% 23% 32% 39% 36% 17% 31% 38% 36% 18% 30%

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 37% 16%12% 6% 30% Office Hospitality Residential Retail Other 35% 15%15% 11% 24% Office HospitalityResidential Retail Other 51%44% USEU 5% APAC Commercial Real Estate (CRE) As of December 31, 2025 31 By region By sector By sector € 11bn€ 24bn€ 24bn Notes: LTV – loan-to-value, CLP – provision for credit losses, LGD - loss given default; for footnotes refer to slides 42 and 43 CRE portfolio CRE in scope of severe stress test US CRE In € m, unless stated otherwise  CRE non-recourse portfolio of € 31bn, 6% of total loans1  € 24bn higher risk CRE loans  € 6bn deemed as lower risk  € 24bn higher risk CRE loans in scope of severe stress test2  64% weighted average LTV  € 11bn US CRE in scope of severe stress test  88% weighted average LTV in US Office  Portfolio trends / management  Higher Stage 3 CLP in Q4 mainly driven by office and single-name event, partially offset by Stage 1 and 2 releases  Full year CLP driven by incremental Stage 3 provisions on existing cases, particularly on the US West Coast  Advanced stage of the downcycle reached but US office headwinds remain  Targeted portfolio actions ongoing to mitigate impacts from longer-than- originally-expected recovery US CRE CLPs per quarterCLPs YTD CLPs YTD 86% 12% US EU 2% APAC 63% 26% Office 5% Hospitality 5% Residential 1% Retail Other € 712m3 € 712m3 2024 112 118 85 86 98 143 121 160 84 30 9 Q1 12 Q2 (16) Q3 (6) Q4 0 Q1 Q2 Q3 (22) Q4 121 130 68 80 98 227 150 137 Stage 1+2 Stage 3 2025

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Level 3 assets and liabilities As of December 31, 2025, in € bn 32 Assets: € 26bn Liabilities: € 12bn Key highlights  Level 3 is an indicator of valuation uncertainty and not of asset quality  The Group classifies financial instruments as Level 3 if an unobservable element impacts the fair value by 5% or more  The movements in Level 3 assets reflect that the portfolios are not static with significant turnover during the period  Variety of mitigants to valuation uncertainty:  Uncertain inputs often hedged, e.g. in Level 3 liabilities  Exchange of collateral with derivative counterparties  Prudent Valuation capital deductions3 specific to Level 3 balances of ~€ 0.7bn Movements in balances Movements in balances Dec 31, 2024 11 Purchases/ Issuances1 (9) Sales/ Settlements (3) Others Dec 31, 2025 26 26 Dec 31, 2024 3 Issuances1 (1) Settlements (5) Others2 Dec 31, 2025 13 12 7 Derivative Assets 11 Loans 6 Debt securities 2 Others 6 Derivative Liabilities 6 Debt Securities 0 Other Notes: for footnotes refer to slides 42 and 43

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Leverage exposure and risk-weighted assets CRD4, in € bn, period end 33 Leverage exposure Risk-weighted assets 145 Q4 2025 63 26 17 138 54 53 42150 Trading assets Derivatives1 Lending Lending commitments2 145 Reverse repo / securities borrowed Cash and deposits with banks Other 125 458 127 147 148 Q3 2025 136 130 459 Q4 2025 128 159 1,300 1,327 347 172 63 21 3 260 Q4 2025 Operational risk RWA Market risk RWA Credit valuation adjustments Credit risk RWA 347 Notes: for footnotes refer to slides 42 and 43

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Litigation update In € bn, unless stated otherwise, period end 34 Notes: figures reflect current status of individual matters and provisions; litigation provisions and contingent liabilities are subject to potential further developments; litigation provisions and contingent liabilities include civil litigation and regulatory enforcement matters Litigation provisions Key highlights Contingent liabilities  Litigation provisions remained stable at € 1.3bn quarter on quarter  Contingent liabilities decreased by € 0.2bn quarter on quarter  Contingent liabilities include possible obligations where an estimate can be made and outflow is more than remote, but less than probable Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2.1 2.0 1.7 1.3 1.3 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 0.7 0.8 1.2 1.1 0.9

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Assets under management – Private Bank In € bn, unless stated otherwise 35 AuM1,2 – by client segments and product group AuM – net flows3 3.6 0.4 0.5 (2.6) Q4 2024 (1.0)(0.2) 0.7 6.4 Q1 2025 0.3 3.6 0.9 1.5 Q2 2025 5.8 2.8 0.7 3.6 Q3 2025 (0.1) 3.6 0.6 (2.2) Q4 2025 1.9 5.9 6.3 13.0 1.9 Notes: PeB – Personal Banking, WM & PrB – Wealth Management and Private Banking; for footnotes refer to slides 42 and 43 Investment products 346 351 369346 127 128 131 134129 106 68 Q3 2025 106 70 374 101 57 Q4 2024 100 58 Q1 2025 101 66 Q2 2025 634 632 645 675 685 Q4 2025 +8% +2% PeB - Deposits WM - Deposits PeB - Inv. products WM & PrB - Inv. products 403 405 445416 437 AuM - % delta Investment products - % delta +10% +2%

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Assets under management – Asset Management In € bn, unless stated otherwise 36 AuM development AuM by asset class1 Q3 2025 Average AuM20% 11% 7%36% 10% 10% 5% 2% Fixed Income Multi Asset Equity SQI Passive Alternatives Cash Advisory 21% 5% 11% 8% 33% 11% 9% 2% 1,0541,012 Q4 2024 Average AuM Q3 2025Q4 2024 994 1,033 Quarterly mgmt. fee margin, in bps Notes: for footnotes refer to slides 42 and 43 Q4 2025 Average AuM19% 11% 7%36% 10% 10% 5% 1% 1,085 Q4 2025 1,077 25.9 24.8 25.2 24.8Year-on-year Quarter-on-quarter 20 Q3 2025 AuM 10 Net flows (1) FX Market performance Other Q4 2025 AuM 1,054 1,085 0 51 77 Q4 2024 AuM Net flows (55) FX Market performance 0 Other Q4 2025 AuM 1,012 1,085

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Corporate & Other In € m, unless stated otherwise 37 Financial results Profit (loss) before tax Key highlights  Loss before tax of € 109m primarily driven by shareholder expenses, legacy portfolios and centrally retained funding and liquidity impacts, partially offset by positive revenues in valuation and timing differences  This compares to a loss before tax of € 621m in the prior year quarter; the year- on-year change is driven by higher revenue in valuation and timing differences and impacts from legacy litigation matters recorded in prior year (113) 210 (115) (155) (31) 95 (109) Funding & liquidity Valuation & timing differences2 Legacy portfolios3 Shareholder expenses Other centrally held items Noncontrolling interests4 Profit (loss) before tax (13) +124 +258 +11 +85 +45 +511 Abs. Δ vs. Q4 2024 Notes: for footnotes refer to slides 42 and 43 Q4 2025 Δ vs. Q4 2024 Δ vs. Q3 2025 Statement of income Revenues 62 n.m. (37)% Provision for credit losses 41 135% 34% Noninterest expenses 226 (59)% (8)% Adjusted costs1 162 (27)% (19)% Noncontrolling interests (95) 90% 43% Profit (loss) before tax (109) (82)% (1)% Balance sheet and resources Leverage exposure, in € bn 32 (16)% 15% Risk-weighted assets, in € bn 31 (7)% (1)%

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Pre-provision profit, CAGR and operating leverage In € m, unless stated otherwise 38 Notes: for footnotes refer to slides 42 and 43 FY 2021 FY 2025 CAGR2 FY 2021 – FY 2025 FY 2024 FY 2025 FY 2024 vs FY 2025Q1 2025 Q2 2025 Q3 2025 Q4 2025 Net revenues Corporate Bank 5,153 1,866 1,896 1,816 1,822 7,400 9.5% 7,506 7,400 (1)% Investment Bank 9,631 3,362 2,687 2,978 2,514 11,541 4.6% 10,557 11,541 9% Private Bank 8,233 2,439 2,371 2,415 2,440 9,665 4.1% 9,386 9,665 3% Asset Management 2,708 730 725 734 888 3,077 3.2% 2,649 3,077 16% Corporate & Other (314) 127 125 99 62 413 (6) 413 n.m. Group 25,410 8,524 7,804 8,043 7,726 32,096 6.0% 30,092 32,096 7% Operating leverage YoY3Noninterest expenses Corporate Bank (4,547) (1,157) (1,137) (1,150) (1,158) (4,603) (5,058) (4,603) (9)% 8% Investment Bank (6,087) (1,650) (1,599) (1,703) (1,722) (6,675) (6,660) (6,675) 0% 9% Private Bank (7,920) (1,731) (1,648) (1,647) (1,712) (6,738) (7,331) (6,738) (8)% 11% Asset Management (1,670) (467) (438) (433) (485) (1,823) (1,823) (1,823) (0)% 16% Corporate & Other (1,281) (211) (137) (246) (226) (819) (2,100) (819) n.m. Group (21,505) (5,216) (4,959) (5,180) (5,304) (20,658) (22,971) (20,658) (10)% 17% Pre-provision profit1 Corporate Bank 606 709 760 666 663 2,797 2,448 2,797 14% Investment Bank 3,544 1,712 1,087 1,274 792 4,866 3,898 4,866 25% Private Bank 313 708 723 768 728 2,927 2,055 2,927 42% Asset Management 1,038 263 287 301 402 1,254 826 1,254 52% Corporate & Other (1,595) (84) (12) (146) (164) (406) (2,106) (406) n.m. Group 3,905 3,308 2,844 2,863 2,422 11,437 7,121 11,437 61%

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Adjusted costs – Q4 & FY 2025 In € m, unless stated otherwise 39 Q4 2025 Q4 2024 Q3 2025 CB IB PB AM C&O Group CB IB PB AM C&O Group CB IB PB AM C&O Group Noninterest expenses 1,158 1,722 1,712 485 226 5,304 1,502 1,771 1,919 473 555 6,221 1,150 1,703 1,647 433 246 5,180 N o n o p e ra ti n g c o st s Impairment of goodwill and other intangible assets - - - - - - - - - - - - - - - - - - Litigation charges, net 12 34 41 0 64 151 287 27 13 (2) 334 659 9 35 6 (1) 46 96 Restructuring & severance 6 (2) 1 12 (0) 17 54 31 188 12 1 286 5 22 19 3 0 49 Adjusted costs 1,140 1,690 1,671 473 162 5,136 1,161 1,713 1,718 463 220 5,276 1,136 1,646 1,622 431 199 5,034 Bank levies 94 138 24 Adjusted costs ex-bank levies 5,042 5,138 5,011 FY 2025 FY 2024 CB IB PB AM C&O Group CB IB PB AM C&O Group Noninterest expenses 4,603 6,675 6,738 1,823 819 20,658 5,058 6,660 7,331 1,823 2,100 22,971 N o n o p e ra ti n g c o st s Impairment of goodwill and other intangible assets - - - - - - - - - - - - Litigation charges, net (9) 65 29 6 88 179 376 126 28 13 1,491 2,035 Restructuring & severance 29 48 78 19 8 183 103 101 301 24 1 529 Adjusted costs 4,582 6,563 6,631 1,798 724 20,297 4,579 6,433 7,001 1,786 608 20,407 Bank levies 148 172 Adjusted costs ex-bank levies 20,149 20,235

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Key metrics ex-specific litigation items In € m, unless stated otherwise 40 Q4 2024 Q4 2025 FY 2024 FY 2025 Reported Revenues 7,224 7,726 30,092 32,096 Noninterest expenses (6,221) (5,304) (22,971) (20,658) Pre-provision profit 1,003 2,422 7,121 11,437 Provision for credit losses (420) (395) (1,830) (1,707) Profit (loss) before tax 583 2,027 5,291 9,731 Revenue change (in %) 7 7 Expense change (in %) (15) (10) Operating leverage (in %) 22 17 Adjustment: Specific litigation items1 Pre-tax impact (594) (74) (1,668) (27) Income tax impact 86 - 226 (16) Post-tax impact (508) (74) (1,442) (43) Adjusted Revenues 7,224 7,726 30,092 32,096 Noninterest expenses (5,626) (5,230) (21,303) (20,632) Pre-provision profit 1,597 2,496 8,790 11,464 Provision for credit losses (420) (395) (1,830) (1,707) Profit (loss) before tax 1,177 2,101 6,960 9,757 Revenue change (in %) 7 7 Expense change (in %) (7) (3) Operating leverage (in %) 14 10 Notes: for footnotes refer to slides 42 and 43

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Definition of certain financial measures 41 Adjusted costs Adjusted costs are calculated by deducting (i) impairment of goodwill and other intangible assets, (ii) net litigation charges and (iii) restructuring and severance (in total referred to as nonoperating costs) from noninterest expenses under IFRS as shown on slide 39 Operating leverage Operating leverage is calculated as the difference between year-on-year change in percentages of reported net revenues and year-on-year change in percentages of reported noninterest expenses as shown on slide 38 Post-tax return on average tangible shareholders’ equity (RoTE) The Group post tax return on average tangible shareholders’ equity (RoTE) is calculated as profit (loss) attributable to Deutsche Bank shareholders after Additional Tier 1 (AT1) coupon as a percentage of average tangible shareholders’ equity. Profit (loss) attributable to Deutsche Bank shareholders after AT1 coupon for the segments is a non GAAP financial measure and is defined as profit (loss) excluding post tax profit (loss) attributable to noncontrolling interests and after AT1 coupon, which are allocated to segments based on their allocated average tangible shareholders’ equity Pre-provision profit Pre-provision profit is calculated as reported net revenues less reported noninterest expenses as shown on slide 38 Key banking book segments Key banking book segments are defined as Deutsche Bank business segments for which net interest income from banking book activities represent a material part of the overall revenue

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Footnotes 1 / 2 42 Slide 11 – Adjusted costs – Q4 2025 and FY 2025 (YoY) 1. Excludes severance of € 177m in Q4 2024, € 29m in Q4 2025, € 533m in FY 2024, € 197m in FY 2025 as this is excluded from adjusted costs Slide 12 – Provision for credit losses 1. Quarterly provision for credit losses annualized as basis points of average loans gross of allowance at amortized cost Slide 13 – Capital metrics 1. Includes full-year profit subject to ECB approval 2. Plain vanilla instruments and structured notes eligible for MREL 3. Includes adjustments to regulatory Tier 2 capital; available TLAC does not include senior preferred debt 4. Article 468 CRR transitional rule regarding temporary treatment of unrealized gains and losses measured at fair value through other comprehensive income Slide 15 – Corporate Bank 1. Detailed on slides 38-39 2. Loans gross of allowance at amortized cost 3. Provision for credit losses as basis points of average loans gross of allowances for loan losses 4. Post-tax return on average tangible shareholders’ equity applying a 28% tax rate; allocated average tangible shareholders’ equity Q4 2025: € 11.0bn, Q3 2025: € 11.0bn, Q4 2024: € 11.4bn; RoE: Q4 2025: 12.3% Slide 16 – Investment Bank 1. Detailed on slides 38-39 2. Loans gross of allowance at amortized cost 3. Provision for credit losses as basis points of average loans gross of allowances for loan losses 4. Post-tax return on average tangible shareholders’ equity applying a 28% tax rate; allocated average tangible shareholders’ equity Q4 2025: € 22.9bn, Q3 2025: € 22.8bn, Q4 2024: € 23.0bn; RoE: Q4 2025: 7.0% Slide 17 – Private Bank 1. Detailed on slides 38-39 2. Includes deposits if they serve investment purposes; detailed on slide 35 3. Loans gross of allowance at amortized cost 4. Provision for credit losses as basis points of average loans gross of allowances for loan losses 5. Post-tax return on average tangible shareholders’ equity applying a 28% tax rate; allocated average tangible shareholders’ equity Q4 2025: € 14.1bn, Q3 2025: € 14.0bn, Q4 2024: € 14.4bn; RoE: Q4 2025: 9.8% 6. Detailed on slide 35 Slide 18 – Asset Management 1. Detailed on slides 38-39 2. Detailed on slide 36 3. Post-tax return on average tangible shareholders’ equity applying a 28% tax rate; allocated average tangible shareholders’ equity Q4 2025: € 2.1bn, Q3 2025: € 2.3bn, Q4 2024: € 2.4bn; RoE: Q4 2025: 17.8% 4. Including assignment of full regulatory capital minority interest benefit to the AM segment (which was previously held in C&O) Slide 19 – Outlook 1. Consistent with the 60% payout ratio objective, subject to meeting German corporate law requirements, AGM authorization and regulatory approvals Slide 21 – 2028 financial targets and capital objectives 1. With 200 basis points distance to the Maximum Distributable Amount (MDA) threshold as a floor Slide 2 – Delivering on 2025 goals sets firm foundation to scale the Global Hausbank 1. Compound annual growth rate (CAGR); detailed on slide 38 2. Throughout this presentation post-tax return on average tangible shareholders’ equity (RoTE) is calculated on net income after AT1 coupons as defined on slide 41; Group average tangible shareholders’ equity: FY 2025: € 59.3bn, FY 2024: € 58.0bn: Group post-tax return on average shareholders’ equity (RoE): FY 2025: 9.3% 3. Includes dividends paid and share buybacks completed in 2022-2025, as well as the proposed dividend and buyback in respect of FY 2025 to be paid and completed in 2026 Slide 3 – A transformed bank delivering increasing profitability 1. Defined on slide 41 and detailed on slide 38 2. Detailed on slide 40 3. Ratio of more predictable revenue streams over total revenues of operating businesses; more predictable revenue streams including Corporate Bank, Private Bank, Asset Management and Investment Bank FIC Financing Slide 4 – Disciplined strategy execution driving higher returns across all businesses 1. Post-tax return on average tangible shareholders’ equity applying a 28% tax rate; RoE: Corporate Bank: FY 2021: 3%, FY 2025: 14%, Investment Bank: FY 2021: 9%, FY 2025: 11%, Private Bank: FY 2021: (2)%, FY 2025: 10%, Asset Management: FY 2021: 11%, FY 2025: 13% 2. Source: IPE's annual Top 500 Asset Managers Report 2025 3. Including assignment of full regulatory capital minority interest benefit to the AM segment (which was previously held in C&O) Slide 5 – Creating value and returning capital to shareholders 1. Includes dividends paid and share buybacks completed in 2022-2025, as well as the proposed dividend and buyback in respect of FY 2025 to be paid and completed in 2026 Slide 6 – Fully focused on delivering the next phase of strategic agenda 1. Detailed on slide 21 2. RWA excluding operational risk RWA 3. With 200 basis points distance to the Maximum Distributable Amount (MDA) threshold as a floor Slide 8 – Key performance indicators 1. Compound annual growth rate (CAGR); detailed on slide 38 2. Liquidity coverage ratio and high-quality liquid assets based on weighted EUR amounts in line with Commission Delegation Regulation 2015/61 as amended by Regulation 2018/162 3. Preliminary Q4 2025 net stable funding ratio and available stable funding based on weighted EUR amounts in line with regulation 575/2013 as amended by regulation 2019/876 4. Includes € 1.4bn tax benefit from a deferred tax asset valuation adjustment driven by strong US performance 5. Includes € 1.0bn tax benefit from a deferred tax asset valuation adjustment driven by strong UK performance Slide 9 – FY 2025 and Q4 2025 highlights 1. Detailed on slides 38-39 2. Loans gross of allowance at amortized cost 3. Detailed on slide 23 4. Provision for credit losses as basis points of average loans gross of allowances for loan losses Slide 10 – Net interest income (NII) / Net interest margin (NIM) 1. Defined on slide 41 2. Accounting asymmetry primarily arises from funding costs associated with trading positions where the funding cost is reported in net interest income but is offset by revenues on the underlying positions recorded in noninterest revenues. Conversely, it can also arise from the use of fair valued instruments to hedge key banking book segments positions where the cost or income of the underlying position is recorded as interest income, but the hedge impact is recorded as a noninterest revenue. These effects primarily occur in the Investment Bank (ex FIC Financing), Asset Management and C&O including Treasury other than held in the key banking book segments

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Footnotes 2 / 2 43 Slide 31 – Commercial Real Estate (CRE) 1. Based on Deutsche Bank’s definition of non-recourse CRE loans as detailed in Annual Report 2024 2. Bespoke internal stress testing scenario on the bank’s higher-risk non-recourse CRE portfolio, including US CRE 3. € 762m CLPs for higher risk non-recourse CRE portfolio; € 712m CLPs for total non-recourse CRE portfolio Slide 32 – Level 3 assets and liabilities 1. Issuances include cash amounts paid/ received on the primary issuance of a loan to a borrower 2. Includes other transfers into (out of) Level 3 and mark-to-market adjustments 3. Additional value adjustments deducted from CET 1 capital pursuant to Article 34 of Regulation (EU) No. 2019/876 (CRR) Slide 33 – Leverage exposure and risk-weighted assets 1. Includes credit risk RWA related to derivatives and CVA RWA, excludes any derivatives-related market risk RWA, which have been fully allocated to non-derivative trading assets 2. Includes contingent liabilities Slide 35 – Assets under management – Private Bank 1. Investment Products also include insurances under discretionary and wealth advisory mandates in Wealth Management 2. Deposits are considered assets under management if they serve investment purposes; this includes all term and savings deposits in the Private Bank; in Wealth Management and Private Banking it is assumed that all customer deposits are held primarily for investment purposes 3. Net flows also include shifts between deposits and investment products Slide 36 – Assets under management – Asset Management 1. Average AuM are generally calculated using AuM at the beginning of the period and the end of each calendar month (e.g. 13 reference points for a full year, 4 reference points for a quarter) Slide 37 – Corporate & Other 1. Detailed on slide 38 2. Valuation & timing reflects the mismatch in revenue from instruments accounted for on an accrual basis under IFRS that are economically hedged with derivatives that are accounted for on a mark-to-market basis 3. Legacy portfolios previously reported as the Capital Release Unit until Q4 2022 4. Reversal of noncontrolling interests reported in operating business segments (mainly Asset Management) Slide 38 – Pre-provision profit, CAGR and operating leverage 1. Pre-provision profit defined as net revenues less noninterest expenses 2. Compound annual growth rates of the total of net revenues of the last twelve months over the 48 months between FY 2021 and FY 2025 3. Operating leverage defined as the difference between the year-on-year growth rates of revenues and noninterest expenses Slide 40 – Key metrics ex-specific litigation items 1. Includes the Postbank takeover litigation provision, reversal of RusChemAlliance (RCA) indemnification asset and Polish FX mortgages provision in 2024 Slide 22 – Delivered increasing shareholder distributions 1. € 8bn anticipated cumulative payout in respect of FY 2021-2025 (including distributions in respect of 2025, payable in 2026) subject to meeting strategic targets and German corporate law requirements, AGM authorization and regulatory approvals Slide 23 – Sustainability 1. Cumulative figures include sustainable financing and ESG investment activities (ex-DWS), as defined in Deutsche Bank’s Sustainable Finance Framework and ESG Investments Framework, which are published on Deutsche Bank's website 2. Cumulative figures include sustainable and transition financing as well as ESG investment activities (ex-DWS), as defined in Deutsche Bank’s Sustainable Finance Framework, Transition Finance Framework, and ESG Investments Framework, all of which are published on Deutsche Bank’s website 3. Climate Bonds Initiative 4. Formerly known as Carbon Disclosure Project Slide 24 – Indicative divisional currency mix 1. For net revenues primarily includes Singapore Dollar (SGD), Indian Rupee (INR) and Swiss Franc (CHF); for noninterest expenses primarily includes INR, SGD and CHF Slide 25 – Interest rate hedge 1. Based on balance sheet per November 30, 2025, vs. on current market-implied forward rates as of December 31, 2025 Slide 26 – Net interest income (NII) sensitivity 1. Based on balance sheet per November 30, 2025, vs. on current market-implied forward rates as of December 31, 2025 Slide 27 – Group Trading Book Value-at-Risk (VaR) and stressed Value-at-Risk (sVaR) 1. Timeline in the graph reflects the Trading P&L date whereas VaR/SVaR is as of the previous date for comparative purpose 2. Defined as actual income of trading units Slide 28 – Loan and deposit development 1. Loans gross of allowances at amortized costs 2. Totals represent reported Group level balances whereas the graph shows only reported Corporate Bank, Investment Bank and Private Bank exposures for materiality reasons 3. FX movements provide indicative approximations based on major currencies Slide 29 – Loan book composition 1. Loan amounts are gross of allowances for loans 2. Mainly includes Corporate & Other and Institutional Client Services in the Corporate Bank 3. Other businesses with exposure ~ 4% each or lesser 4. Includes Strategic Corporate Lending Slide 30 – Provision for credit losses and Stage 3 loans 1. Quarterly provision for credit losses annualized as basis points of average loans gross of allowance at amortized cost 2. IFRS 9 Stage 3 assets at amortized cost including POCI as % of loans at amortized cost (€ 479bn as of December 31, 2025). IFRS 9 Stage 3 assets at amortized cost including POCI as % of assets at amortized cost (€791bn as of December 31, 2025) amounted to 2.0% as of December 31, 2025, which is closely aligned with NPL ratio in accordance with EBA guidance 3. IFRS 9 Stage 3 allowance for credit losses for assets at amortized cost excluding POCI divided by Stage 3 assets at amortized cost excluding POCI 4. IFRS 9 stage 1 coverage ratio for assets at amortized cost (excluding country risk allowance) is 0.1% and IFRS 9 stage 2 coverage ratio for assets at amortized cost (excluding country risk allowance) is 1.7% as of December 31, 2025

Deutsche Bank Investor Relations Q4/FY 2025 results, January 29, 2026 Cautionary statements 44 The figures in this presentation are preliminary and unaudited. Our Annual Report 2025 and SEC Form 20-F are scheduled to be published on March 12, 2026 Forward-looking statements This presentation 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 March 13, 2025 under the heading “Risk Factors.” Copies of this document are readily available upon request or can be downloaded from investor-relations.db.com Non-IFRS financial measures This presentation also contains non-IFRS financial measures. For a reconciliation to directly comparable figures reported under IFRS, to the extent such reconciliation is not provided in this presentation, refer to the Q4 2025 Financial Data Supplement, which is accompanying this presentation and available at investor-relations.db.com EU carve out Results are prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (“IASB”) and endorsed by the European Union (“EU”), including application of portfolio fair value hedge accounting for non-maturing deposits and fixed rate mortgages with pre-payment options (the “EU carve out”). Fair value hedge accounting under the EU carve out is employed to minimize the accounting exposure to both positive and negative moves in interest rates in each tenor bucket thereby reducing the volatility of reported revenue from Treasury activities. For the three-month period ended December 31, 2025, application of the EU carve out had a positive impact of € 463 million on profit before taxes and of € 308 million on profit. For the same period in 2024, the application of the EU carve out had a negative impact of € 127 million on profit before taxes and of € 60 million on profit. For the full-year 2025, application of the EU carve out had a positive impact of € 662 million on profit before taxes and of € 325 million on profit. For the same period in 2024, the application of the EU carve out had a negative impact of € 1.4 billion on profit before taxes and of € 976 million on profit. The Group’s regulatory capital and ratios thereof are also reported on the basis of the EU carve out version of IAS 39. As of December 31, 2025, the application of the EU carve out had a negative impact on the CET1 capital ratio of about 60 basis points compared to a negative impact of about 68 basis points as of December 31, 2024. In any given period, the net effect of the EU carve out can be positive or negative, depending on the fair market value changes in the positions being hedged and the hedging instruments ESG Classification Sustainable and transition financing and ESG investment activities as defined in Deutsche Bank’s Sustainable Finance Framework, Transition Finance Framework, and ESG Investments Framework, all of which are published on Deutsche Bank’s website. Given the cumulative definition of the sustainable and transition financing and ESG investment target, in cases where validation against the Frameworks cannot be completed before the end of the reporting quarter, volumes are disclosed upon completion of the validation in subsequent quarters. For details on ESG product classification of DWS, please refer to the section “Sustainability in Our Product Suite and Investment Approach – Our Product Suite” in the DWS Annual Report 2024

db20260129994 Media Release 1 | 13

Deutsche Bank

Exhibit 99.4

Media Release

Frankfurt am Main 29 January 2026

Deutsche Bank reports profit before tax of € 9.1 billion

and € 2.9 billion of proposed capital distribution to

shareholders

Profits in full year 2025

•Profit before tax of € 9.1 billion, up 35% year on year

•Net profit of € 6.8 billion, up 52% year on year

Progress on 2025 key metrics

•Post-tax return on equity (RoE)1 of 8.5%

•Post-tax return on tangible equity (RoTE)1 of 9.4%

•Cost/income ratio of 66%

€ 8.5 billion in completed and proposed capital distributions since 2022 include

€ 2.9 billion of distributions proposed in respect of 2025, comprising:

•Dividend proposal of € 1.00 per share/€ 1.9 billion

•€ 1 billion in share buybacks authorized

Continued year-on-year growth in business volumes

•2025 net revenues of € 31.4 billion, essentially flat versus prior year

•Compound annual revenue growth of 5% since 2021

•Net inflows of € 78 billion, and growth in assets under management of € 124

billion, across Private Bank and Asset Management

Issued by the media relations department of Deutsche Bank AG<br><br>Taunusanlage 12, 60325 Frankfurt am Main	Internet: db.com/news<br><br>Email: db.media@db.com

Media Release 2 | 13

Costs reduced in line with full-year guidance, with solid credit quality

•Noninterest expenses down 10% year on year to € 20.7 billion, reflecting an

86% reduction in nonoperating costs

•Adjusted costs of € 20.3 billion, down 1% year on year

•Provision for credit losses down 7% to € 1.7 billion

Profit before tax in the fourth quarter of 2025

•Profit before tax of € 1.6 billion, up from € 709 million in the prior year

•Net profit of € 1.3 billion, up from € 397 million in the prior year

•Revenues of € 7.3 billion, down 1% versus the prior year quarter

•Noninterest expenses down 15% year on year to € 5.3 billion, reflecting

significantly lower nonoperating costs

Deutsche Bank (XETRA: DBGn.DB / NYSE: DB) today announced a profit before

tax of € 9.1 billion for 2025, up 35% compared to 2024. Revenues were essentially

flat at € 31.4 billion versus the prior year. Noninterest expenses were € 20.7 billion,

in line with guidance of around € 20.6 billion and down 10% year on year, driven by

a reduction of 86% in nonoperating costs which largely reflected the non-

recurrence of specific litigation items in 2024.

Progress on key ratios

Net profit was € 6.8 billion, up 52% year on year. The bank’s full-year 2025 ratios

improved considerably year on year to:

•Post-tax return on average shareholders’ equity (RoE1) was 8.5% in 2025,

up from 5.5% in the prior year

•Post-tax return on average tangible shareholders’ equity (RoTE1) was 9.4%

in 2025, below the bank’s 2025 target of above 10%, and up from 6.2%, or

8.6% excluding specific litigation items, in 2024

•The cost/income ratio was 66%, slightly above the bank’s target of below

65% and down from 73%, or 68% excluding the aforementioned specific

litigation items, in 2024

Fourth-quarter pre-tax profit was € 1.6 billion, more than double compared to the

fourth quarter of 2024. This development reflected a decrease of 1% in revenues

to € 7.3 billion, together with a 15% reduction in noninterest expenses to € 5.3

billion, driven primarily by the non-recurrence of the aforementioned specific

litigation items in the prior year quarter.

Fourth-quarter net profit was € 1.3 billion, up from € 397 million in the fourth

quarter of 2024. Post-tax RoE was 5.8%, up from 1.0% year on year while post-tax

RoTE1 was 6.4% in the quarter, up from 1.1% in the prior year quarter, while. The

fourth quarter cost/income ratio was 73%, down from 85% in the prior year

quarter.

Media Release 3 | 13

A further € 2.9 billion in proposed capital distributions to shareholders

Management plans to propose dividends in respect of 2025 of € 1.00 per share, or

€ 1.9 billion, to shareholders at its Annual General Meeting in May 2026, up by

around 50% from € 0.68 per share for 2024. The bank has secured customary