Deutsche Bank

Annual Report 2017

Declaration of Backing

Deutsche Bank AG ensures, except in the case of political risk, that the following subsidiaries are able to meet their contractual liabilities:

DB Investments (GB) Limited, London

Deutsche Asset Management International GmbH, Frankfurt am Main1

Deutsche Asset Management Investment GmbH, Frankfurt am Main2

Deutsche Asset Management S.A., Luxembourg3

Deutsche Australia Limited, Sydney

DEUTSCHE BANK A.S., Istanbul

Deutsche Bank Americas Holding Corp., Wilmington

Deutsche Bank (China) Co., Ltd., Beijing

Deutsche Bank Europe GmbH, Frankfurt am Main

Deutsche Bank Luxembourg S.A., Luxembourg

Deutsche Bank (Malaysia) Berhad, Kuala Lumpur

Deutsche Bank Polska Spólka Akcyjna, Warsaw

Deutsche Bank Privat- und Geschäftskunden AG, Frankfurt am Main

Deutsche Bank S.A. – Banco Alemão, São Paulo

Deutsche Bank, Sociedad Anónima Española, Madrid

Deutsche Bank Società per Azioni, Milan

Deutsche Bank (Suisse) SA, Geneva

Deutsche Bank Trust Company Americas, New York

Deutsche Futures Singapore Pte Ltd, Singapore

Deutsche Holdings (Malta) Ltd., St. Julians

Deutsche Immobilien Leasing GmbH, Düsseldorf

Deutsche Morgan Grenfell Group Public Limited Company, London

Deutsche Securities Inc., Tokyo

Deutsche Securities Asia Limited, Hong Kong

Deutsche Securities Saudi Arabia LLC, Riyadh

DWS Holding & Service GmbH, Frankfurt am Main4

norisbank GmbH, Bonn

Public joint-stock company “Deutsche Bank DBU”, Kiev

OOO “Deutsche Bank”, Moscow

Sal. Oppenheim jr. & Cie. AG & Co. KGaA, Köln

1 We have withdrawn and terminated the declaration of backing for Deutsche Asset Management International GmbH, Frankfurt am Main, last-mentioned in the Annual Report 2016, effective at the end of June 30, 2018.

2 We have withdrawn and terminated the declaration of backing for Deutsche Asset Management Investment GmbH, Frankfurt am Main, last-mentioned in the Annual Report 2016, effective at the end of June 30, 2018.

3 We have withdrawn and terminated the declaration of backing for Deutsche Asset Management S.A., Luxembourg, last-mentioned in the Annual Report 2016, effective at the end of June 30, 2018.

4 We have withdrawn and terminated the declaration of backing for DWS Holding & Service GmbH, Frankfurt am Main, last-mentioned in the Annual Report 2016, effective at the end of June 30, 2018.