Deutsche Bank AG Determining Party

Deutsche Bank Confidential Equities Structuring Group

London Branch

Business Days TARGET Settlement Day Calculation/Paying

London

NKY

Deutsche Banks

Underlying

Deutsche Bank Confidential Equities Structuring Group Termsheet Disclaimer

the Financial Services Authority

SEC

Deutsche Bank Confidential Equities Structuring Group Instrument Type OTC Option Option Seller Deutsche Bank AG

k,0

BaFin - Federal Financial

London Branch Option Buyer Southern Financial

Underlying Initial Level k Bloomberg Code Reuters Code

P64,07rwL

Deutsche Bank AG

Max

Expiry Date

THE END Of TIC TERM

Option Payout Notional

Underlying