Deutsche Bank Aktiengesellschaft furnished an earnings report prepared under IASB IFRS and a capitalization table, both as of September 30, 2026; the report and exhibits are incorporated by reference into an existing registration statement. For U.S. reporting, the bank uses IASB IFRS, which does not permit the EU carve-out for fair value hedge accounting; the bank says IASB IFRS is otherwise the same as EU IFRS. It describes the EU carve-out as using fair value hedge accounting for portfolio hedges of interest rate risk to reduce volatility in reported Treasury revenue.
The “Risks and Opportunities” section supplements, but does not replace, the risk factors in the bank’s 2025 Annual Report. The report also discusses non-GAAP measures and identifies their most directly comparable IFRS measures.
Deutsche Bank Aktiengesellschaft says its financial targets and capital objectives are based on EU IFRS, which applies the EU carve-out’s fair value hedge accounting to non-maturing deposits and fixed-rate mortgages with pre-payment options. The bank says this treatment minimizes accounting exposure to positive and negative interest-rate moves in each tenor bucket and reduces volatility in reported revenue from Treasury activities.
Certain reports prepared for U.S. reporting purposes use IASB IFRS, which does not permit the EU carve-out but is otherwise the same as EU IFRS. Deutsche Bank also lists selected non-GAAP measures with their closest IFRS comparators, including currency-adjusted revenues compared with net revenues and adjusted net assets compared with total assets.
Deutsche Bank Aktiengesellschaft incorporated the report and its exhibits by reference into Registration Statement No. 333-278331. The exhibits include a legal opinion relating to senior debt securities and consents from Fried, Frank, Harris, Shriver & Jacobson LLP.
Deutsche Bank AG furnishes an interim reporting package for the period ended June 30, 2026, prepared under IFRS as issued by the IASB, together with a separate capitalization table. These materials are attached as Exhibits 99.1 and 99.2 and are incorporated by reference into Registration Statement No. 333-278331.
The bank explains its parallel use of EU IFRS with the EU carve out for non-U.S. purposes, notably fair value hedge accounting for portfolio interest rate hedges, while U.S. reporting relies on IASB IFRS, which does not permit that carve out. The interim report includes non-GAAP financial measures such as tangible shareholders’ equity and currency-adjusted revenues, with detailed descriptions and reconciliations cross-referenced to the interim report and the 2025 Form 20-F. A “Risks and Opportunities” section supplements, but does not replace, the existing Risk Factors, and extensive forward-looking statement cautions highlight market, credit, strategic and risk-management uncertainties.
Deutsche Bank AG is offering $1,786,000 of 5.70% Fixed Rate Callable Senior Debt Funding Notes due July 15, 2041. The notes pay interest at 5.70% per annum, calculated on an unadjusted 30/360 basis and paid annually in arrears each July 15, starting July 15, 2027.
The issuer may, in its sole discretion and subject to regulatory approval, redeem all (but not part) of the notes at 100% of principal plus accrued interest on any optional redemption date, semi-annually each January 15 and July 15 from July 15, 2029 through January 15, 2041. The notes are unsecured, unsubordinated “senior preferred” obligations that rank ahead of senior non-preferred debt but behind certain deposits and other higher-ranking liabilities.
Holders are deemed to consent to potential “Resolution Measures,” including write-down or conversion of the notes into equity if Deutsche Bank is deemed non-viable, which may result in losing some or all principal and interest without this constituting an event of default. Events of default are limited to German insolvency proceedings, with no acceleration right for payment defaults. The notes are not insured by the FDIC, are not listed on any exchange, and provide net proceeds of $1,759,549 to Deutsche Bank for general corporate purposes.
Deutsche Bank AG is offering 5.80% Fixed Rate Callable Senior Debt Funding Notes due July 31, 2041 at 100.00% of the $1,000 Principal Amount per note. The notes pay fixed interest of 5.80% per annum, payable annually in arrears each July 31, beginning July 31, 2027.
Deutsche Bank may, in its sole discretion and subject to regulatory approval, redeem the notes in whole only at par plus accrued interest on semi-annual call dates each January 31 and July 31 from July 31, 2029 through January 31, 2041. The notes are unsecured, unsubordinated “senior preferred” obligations, ranking ahead of the bank’s senior non-preferred debt but behind certain protected deposits, and are not insured by any governmental agency. They are expressly subject to EU “Resolution Measures,” including write-down (potentially to zero), conversion into equity or transfer, which would not constitute an event of default and can result in a partial or total loss. Events of default are limited mainly to German insolvency proceedings, with no acceleration right for payment or covenant defaults, and holders waive various claims against the trustee related to Resolution Measures.
Deutsche Bank AG is offering 5.45% Fixed Rate Callable Senior Debt Funding Notes due January 29, 2036 at 100% of the $1,000 principal amount per note, paying 5.45% per annum in cash interest annually until maturity, unless earlier redeemed.
The notes are unsecured, unsubordinated “senior preferred” obligations, callable at the issuer’s option at par plus accrued interest on each January 29 and July 29 from 2028 through 2035, and will not be listed on any securities exchange. Per $1,000 note, selling concessions are $40, leaving proceeds of $960 to the issuer before expenses.
Holders are expressly subject to EU bank resolution powers: a competent authority may impose “Resolution Measures,” including writing down payments (potentially to zero), converting the notes into equity, transferring or amending the notes, or cancelling them, without this constituting an event of default or permitting acceleration. U.S. tax counsel expects the notes to be treated as fixed-rate debt without original issue discount. Net proceeds will be used for general corporate purposes, and distribution involves conflicts of interest because Deutsche Bank Securities Inc., an affiliate, acts as underwriter. The notes are not insured by the FDIC or any government agency and are not intended for retail investors in the EEA or UK.
Deutsche Bank AG is offering 4.75% Fixed Rate Senior Debt Funding Notes due July 22, 2031 at an Issue Price of $1,000.00 per note (100.00%) with a Principal Amount of $1,000 per note. Interest is 4.75% per annum, payable annually on each July 22, commencing July 22, 2027. Settlement is on or about July 22, 2026. The pricing supplement warns that the notes are unsecured, not FDIC‑insured, and subject to Resolution Measures under EU/German resolution regimes, which could include write‑down or conversion into equity and may cause holders to lose some or all of their investment.
Deutsche Bank AG priced a preliminary offering of 5.00% Fixed Rate Senior Debt Funding Notes due July 22, 2034. The notes have a $1,000 principal amount per note, an Issue Price of 100.00%, pay interest annually on July 22 commencing July 22, 2027, and are not listed.
The notes are unsecured, rank pari passu with other unsecured unsubordinated obligations but are subject to Resolution Measures under EU/German resolution regimes that could write down or convert the notes. Proceeds are for general corporate purposes. Purchase involves a $30 per note selling concession; net proceeds per note to Deutsche Bank are $970.
Deutsche Bank AG is offering 5.55% Fixed Rate Callable Senior Debt Funding Notes due July 22, 2038. The notes are issued at an Issue Price of $1,000 per note with a principal amount $1,000, pay interest at 5.55% annually, and are callable in whole on semi-annual Optional Redemption Dates beginning July 22, 2028, subject to regulatory approval. The pricing supplement shows a Trade Date of approximately July 20, 2026 and a Settlement Date of approximately July 22, 2026. Dealers receive discounts and commissions of $40.00 per note, leaving proceeds to the issuer of $960.00 per note. The notes are unsecured, unsubordinated obligations and may be subject to Resolution Measures under applicable EU and German resolution law, including write-down or conversion into equity; holders waive certain claims in respect of such Resolution Measures.