Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 626

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 626
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 means that the maximum possible achievement level for variable compensation amounts to 150%. In accordance with Section 87a (1) sentence 2 No. 1 of the German Stock Corporation Act (AktG), the limit set for total compensation is maintained unchanged at a maximum of € 12 million uniformly for all members of the Management board as the maximum cap based on the financial year. 2025 objective structure and targets The compensation system implemented in 2024 works well and produces appropriate results. Therefore, the objective structure will continue to be in line with the compensation system approved by the General Meeting in 2024. Short-Term Incentive (STI) Generally unchanged from 2024, the amount of the Short-Term Incentive (STI) for the 2025 financial year will continue to be 40% of the total target variable compensation and is based on the individual achievement level of short and medium-term individual and divisional objectives. The specific individual objectives of the Short-Term Incentive (STI) for 2025 will be disclosed retrospectively in the 2025 Compensation Report. Long-Term Incentive (LTI) The Long-Term Incentive (LTI) will continue to be 60% of the total target variable compensation and consists of collective long-term objectives linked to the Bank´s strategy. For the three-year performance period 2025 - 2027, the Long-Term Incentive Plan consists of four compensation components that are unchanged to the preceding and still running performance period 2024 – 2026 of four compensation components. The components “RoTE” (Return on tangible equity), “TBVPS” (growth in Tangible Book Value Per Share) and “RTSR” (Relative Total Shareholder Return) remain the same with unchanged weightings. Going forward, the RoTE measure is underpinned by the Common Equity Tier 1 (CET1) capital ratio to ensure a balanced approach to profitability, capital adequacy, and risk management. If the CET1 capital ratio at the end of the performance period is below the CET 1 red threshold level set in the risk appetite statement, then the measure is assessed to be nil. This also applies to the RoTE objectives for the STI. The “ESG” component will in general also remain unchanged especially with regard to the Environmental and the Social objectives. Deutsche Bank’s policies and procedures are aligned with the laws and regulations in all of the markets in which it operates, including anti