Company: ADZCF
Filing Date: 2025-01-08
Form Type: 424B2
Source: 0000950103-25-000281
Chunk: 6

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-01-08
Form: 424B2
Chunk 6
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 all applicable laws and regulations in force in any jurisdiction in connection with the possession or distribution of this pricing supplement and the accompanying prospectus supplement and prospectus and the purchase, offer or sale of the notes and( ii) obtain any consent, approval or permission required to be obtained by you for the purchase, offer or sale by you of the notes under the laws and regulations applicable to you in force in any jurisdiction to which you are subject or in which you make such purchases, offers or sales; neither we nor the agents shall have any responsibility therefor.

Recent Developments

Following the 2024 supervisory
review and evaluation process (SREP) conducted by Deutsche Bank’s EU prudential regulators, Deutsche Bank has been informed by the
European Central Bank of its decision regarding prudential capital requirements to be maintained from January 1, 2025, onwards, that Deutsche
Bank's Pillar 2 requirement will be 2.90 % of risk-weighted assets, of which at least 1.63 % must be covered by Common Equity Tier 1 capital
and 2.18 % by Tier 1 capital.

In respect of the Polish Mortgage
Matters (described in Note 27 “Provisions” of the consolidated finance statements set forth in Deutsche Bank’s 2023
Annual Report on Form 20-F), during the fourth quarter of 2024, Deutsche

<div align='center'>PS-5</div>

Bank decided following developments in the Polish
banking sector to further increase the provision to a total provision of € 920 million as of December 31, 2024, up from € 624
million as of September 30, 2024 and € 534 million as of December 31, 2023.

In respect of the RusChem Alliance
(RCA) Litigation (also described in Note 27 “Provisions”), in a hearing at the end of May 2024, the Russian court fully granted
RCA’s payment claim and RCA's motion for interim measures by which a corresponding amount in the bank’s Russian subsidiary
was frozen. In September 2024, the court of appeal rejected Deutsche Bank's appeal and fully confirmed RCA's claim for payment. RCA received
a writ of execution on September 11, 2024 which allows RCA to enforce its claim for payment at any time in Russia. At the end of September
2024, Deutsche Bank filed a further appeal with the Arbitrazh Court of the Northwestern Circuit against this