Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 178

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 178
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 transactions and 22.9 million shares were acquired via the exercise of call options. 2. Share Buyback Program 2024-1 was announced on March 1, 2024, and provided for the purchase of up to € 675 million in shares. The program started on March 4, 2024, and was completed on July 11, 2024. In this period 46,448,708 shares were acquired. The purchase price paid at the stock exchange was on average € 14.53 per share. Item 16F: Change in Registrant’s Certifying Accountant Not applicable.

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| Deutsche Bank                   |
| Annual Report 2024 on Form 20-F |

Item 16G: Corporate Governance Deutsche Bank’s common shares are listed on the New York Stock Exchange, as well as on all seven German stock exchanges. Set forth below is a description of the significant ways in which the corporate governance practices differ from those applicable to U.S. domestic companies under the New York Stock Exchange’s listing standards as set forth in its Listed Company Manual (the “NYSE Manual”). The Legal Framework.Corporate governance principles for German stock corporations ( Aktiengesellschaften) are set forth in the German Stock Corporation Act ( Aktiengesetz), the German Co-Determination Act of 1976 ( Mitbestimmungsgesetz) and the German Corporate Governance Code ( Deutscher Corporate Governance Kodex, referred to as the Code). The Two-Tier Board System of a German Stock Corporation.The German Stock Corporation Act provides for a clear separation of management and oversight functions. It therefore requires German stock corporations to have both a supervisory board ( Aufsichtsrat) and a management board ( Vorstand). These boards are separate; no individual may be a member of both. Both the members of the management board and the members of the supervisory board must exercise the standard of care of a diligent businessperson to the company. In complying with this standard of care they are required to take into account a broad range of considerations, including the interests of the company and others like those of its shareholders, employees and creditors. The management board is responsible for managing the company and representing the company in its dealings with third parties. The management board is also required to ensure appropriate risk management within the corporation and to establish an internal monitoring system. The members of the management board, including its chairperson or speaker, are regarded as peers and share a collective responsibility for all management decisions.