Deutsche Bank Transition toward a sustainable and climate-neutral economy Non-Financial Report 2022 Sustainable finance International Private Bank Overview GRI 2-23, 201-2, 404-2, 417-1, FS4, FS8, FS14 In 2022, International Private Bank continued to implement its ESG strategy, committing to provide its clients the information, advice and products they need for their ESG solutions, thereby supporting clients in enabling their investments to have a positive impact. In 2022 International Private Bank formed a new Product, Platform and Sustainable Solutions function with International Private Bank Global Executive Committee representation and a dedicated sustainable solutions team driving the ESG approach across the division. International Private Bank progressed in its ambition to make ESG a default offering for investing through the conversion of its core Strategic Asset Allocation fund to align with sustainability criteria. Focus also remained on educating employees on ESG, including offering opportunities to obtain industry certifications, and providing training on emerging regulations for all product and analyst professionals. International Private Bank also continued providing thought leadership on biodiversity and ocean conservation topics through partnerships with Ocean Risk and Resilience Action Alliance, Cambridge Institute for Sustainability Leadership, and other renowned organizations delivering research, publications, and events. Key regulatory developments in 2022 on the topic of sustainability were incorporated into International Private Bank’s processes. In line with Private Bank’s updated Sustainable Investment Classification Criteria, International Private Bank applies the following approaches to investment products: – Discretionary portfolio management uses MSCI data to exclude industries that are deemed harmful in maintaining sound ESG risk management; these are generally in accordance with the bank’s group-wide exclusion policies; in addition, all of the portfolios underlying securities must have a minimum MSCI ESG rating; in line with new regulation on sustainability preferences (MiFID II); also discretionary portfolio management includes attributes that align the instrument selection within its mandates to the regulatory defined sustainability characteristics; discretionary portfolio management provides an ESG offering across the main regions and has transitioned its flagship Strategic Asset Allocation product by incorporating the defined ESG criteria since August 2022 – Funds on International Private Bank’s advisory list, identified by the Funds research team in the Global Investment Group must meet minimum requirements to be considered as an ESG fund; the funds must have a qualifying ESG strategy and meet a minimum MSCI ESG rating and the funds must align to defined sustainability regulations within the applicable region; additional due diligence is carried out to determine a subset of “dedicated” ESG funds which defines the funds that are actively promoted in advisory processes as ESG funds; these are then subsequently included in the sustainable volumes; regulatory thresholds in the European Union and stricter criteria for categorizing a product as sustainable came into effect as of August 2022, resulting in the number of ESG funds meeting the defined criteria on International Private Bank’s recommended lists being reduced year on year in 2022 to 34 ESG dedicated mutual funds (2021: 72 mutual funds) – Third-party green bonds in the investment portfolios of International Private Bank’s clients are considered ESG if the green bonds meet all four core components of the International Capital Market Association’s Green Bond Principles; these components set out guidelines for the instrument to be considered green which includes the use of proceeds, disclosure of the process for project evaluation and selection, the management of the proceeds and annual reporting on allocations In line with the bank’s Sustainable Finance Framework, International Private Bank continued to offer ESG lending options for its clients and short- to medium-term green deposits financing Deutsche Bank’s green asset pool and supporting UN Sustainable Development Goals. Furthermore, International Private Bank also offered ESG structured lending to support companies in meeting their sustainability goals, as well as consumer credit for electric vehicles, green mortgages offered for acquisition of A or B energy rated homes in Italy and lending for micro enterprises in India. Micro enterprise loans in India enable International Private Bank to offer products to small firms that would otherwise not receive financing, with some loans backed by government schemes. International Private Bank has a partnership with “Funds for Good” in Belgium under which International Private Bank donates part of its earnings to a foundation that supports young entrepreneurs who otherwise have limited access to lending. International Private Bank translates and adapts its client publications, which are prepared by its Chief Investment Office on ESG topics, to suit all markets, enabling it to share expert research and opinions with retail clients and high net worth investors alike. Progress toward target GRI FS 8 Sustainable financing and investments – International Private Bank (cumulative volumes) Contribution in 1 in € bn. Dec 31, 2022 2022 Dec 31, 2021 Dec 31, 2020 Financing 1 1 0 0 Issuance 0 0 0 0 2 Assets under Management 15 (5) 20 6 Total 16 (5) 20 6 1 Numbers may not add up for rounding reasons 2 Stock value at period end 32