Deutsche Bank

Annual Report 2017

Pension benefits

The Supervisory Board allocates an entitlement to pension plan benefits to the Management Board members. These entitlements involve a defined contribution pension plan. Under this pension plan, a personal pension account has been set up for each participating member of the Management Board after appointment to the Management Board. A contribution is made annually into this pension account.

Management Board members receive a contribution in the form of a contractually agreed fixed annual amount in Euro. The contribution accrues interest credited in advance, determined by means of an age-related factor, at an average rate of 4 % per year up to the age of 60. From the age of 61 onwards, the contribution made is credited with an annual interest payment of 4 % up to the date of retirement.

The annual contributions, taken together, form the pension amount available to pay the future pension benefit in case of a pension event (age limit, disability or death). The pension right is vested from the start.

The following table shows the annual contributions, the interest credits, the account balances and the annual service costs for the years 2017 and 2016 as well as the corresponding defined benefit obligations for each member of the Management Board in office in 2017 as of December 31, 2017 and December 31, 2016. The different balances are attributable to the different lengths of service on the Management Board, the respective age-related factors, and the different contribution rates, as well as the individual pensionable compensation amounts and the previously mentioned additional individual entitlements.

Members of the Management Board

Annual contribution, in the year

Interest credit, in the year

Account balance, end of year

Service cost (IFRS), in the year

Present value of the defined benefit obligation (IFRS), end of year

in €

2017

2016

2017

2016

2017

2016

2017

2016

2017

2016

1

Member since August 1, 2016.

2

Member since July 1, 2017.

3

Member since October 1, 2016.

4

Member since August 1, 2016.

5

Member since September 1, 2017.

6

Member until March 31, 2017.

7

The pension entitlement was not vested at the time of the termination of the Management Board membership and was paid in form of a cash compensation in the amount of € 2,520,000.

John Cryan

728,000

754,000

0

0

1,875,250

1,147,250

748,829

821,114

1,916,940

1,221,303

Kimberly Hammonds1

936,000

250,001

0

0

1,186,001

250,001

842,110

270,466

1,091,041

275,563

Stuart Lewis

871,000

556,000

0

0

3,213,938

2,342,938

807,465

546,402

3,377,866

2,555,844

Sylvie Matherat

786,500

500,000

0

0

1,373,168

586,668

774,917

517,352

1,354,995

613,025

James von Moltke2

503,750

-

0

-

503,750

-

451,453

-

463,619

-

Nicolas Moreau3

1,340,000

347,500

0

0

1,687,500

347,500

1,232,878

442,672

1,591,229

450,380

Garth Ritchie

1,500,000

1,550,000

0

0

3,050,000

1,550,000

1,306,915

1,443,171

2,704,127

1,475,820

Karl von Rohr

871,000

556,000

0

0

1,523,001

652,001

807,465

546,402

1,434,564

647,482

Dr. Marcus Schenck

1,105,500

556,000

0

0

2,189,501

1,084,001

1,018,267

546,402

2,051,090

1,041,150

Christian Sewing

1,046,500

1,085,500

0

0

2,824,000

1,777,500

899,307

984,198

2,450,830

1,592,460

Werner Steinmüller4

650,000

166,667

6,667

0

823,334

166,667

701,617

164,232

907,793

169,445

Frank Strauß5

348,834

-

0

-

348,834

-

313,391

-

321,839

-

Jeffrey Urwin6

500,000

2,000,000

20,000

0

07

2,000,000

557,370

2,036,367

0

2,090,722