Responsibility Statement by the Management Board

To the best of our knowledge, and in accordance with the applicable reporting principles, the consolidated financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the Group, and the Group management report includes a fair review of the development and performance of the business and the position of the Group, together with a description of the principal opportunities and risks associated with the expected development of the Group.

Frankfurt am Main, March 6, 2012

Signature of Josef Ackermann, Hugo Bänziger and Jürgen Fitschen (signature)

       Josef Ackermann                        Hugo Bänziger                          Jürgen Fitschen

Signature of Anshuman Jain, Stefan Krause and Hermann-Josef Lamberti (signature)

     Anshuman Jain                          Stefan Krause                        Hermann-Josef Lamberti

Signature of Rainer Neske (signature)

 Rainer Neske

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Deutsche Bank Annual Report 2011