Deutsche Bank Transition toward a sustainable and climate-neutral economy Non-Financial Report 2022 Climate risk Climate risk – Actively measuring, monitoring and managing climate risks – Net zero targets published for four carbon-intensive sectors – Climate metrics further embedded into governance and risk appetite framework Managing emerging transition and physical climate risks to the bank’s balance sheet and operations is a key component of the Group’s sustainability strategy. Deutsche Bank continues to embed climate risks into its business-as-usual risk management frameworks, processes and appetite – prioritizing areas with the highest potential impact based on comprehensive materiality assessment and integration into the risk identification process. Deutsche Bank utilizes a range of metrics to measure net zero alignment and the broader climate footprint of its portfolios and in October announced net zero aligned decarbonization targets for four priority carbon intensive sectors: Oil and Gas (upstream), Power Generation, Automotive (light duty vehicles) and Steel. These targets and metrics, which were approved by the bank’s Group Risk Committee, are fully integrated into the Group-wide risk management framework and appetite. Deutsche Bank has also further developed its transition and physical climate risk modelling capabilities in support of the delivery of the first climate stress test of the European Central Bank. The bank remains actively involved in a range of industry initiatives on climate and other ESG risks including participation in Net-Zero Banking Alliance working groups to develop consistent approaches to target setting, involvement in United Nations Environment Programme-Finance Initiative projects and membership of Partnership for Carbon Accounting Financials working groups for sovereigns and capital market instruments. Governance GRI 2-13/25, 3-3, 404-2, FS1, FS4 Deutsche Bank’s governance of climate risk varies by activity. The governance of the activities that drive the bank’s transformation, including those needed to fulfill Deutsche Bank’s pledge to net zero by 2050 (as a founding member of the Net-Zero Banking Alliance), is led by dedicated steering committees as well as leveraging existing governance structures. By contrast, the governance of business-as-usual activities is incorporated in the bank’s existing management structure. Deutsche Bank’s Group Sustainability Committee, chaired by the CEO, acts as the senior decision-making body for sustainability-related matters at group level including those related to climate risks and the bank’s net zero targets. The Committee receives regular updates on risk-related topics, including developments in Deutsche Bank’s financed emissions and net zero alignment targets as well as progress reports from risk-related workstreams. The Management Board also receives regular updates on financed emissions and net zero alignment via the Risk and Capital Profile report. Each of Deutsche Bank’s core businesses integrates climate and broader ESG risks into planning and risk appetite statements as part of the bank’s annual strategic planning process, approved by the Management Board. In 2022 the bank also established a Net-Zero Forum, responsible for the assessment of new transactions with a significant impact on the bank’s financed emissions and / or net zero targets. Members of the forum are senior representatives from Business, Risk and the Chief Sustainability Office. The Group Risk Committee, chaired by the Chief Risk Officer, is established by the Management Board to serve as the central forum for review and decision making on matters related to risk, capital, and liquidity. This includes the responsibility for developing the bank’s Climate Risk Framework. The Committee also approved the Bank’s decarbonization targets and its internal risk appetite thresholds. A number of delegated sub-committees of the Group Risk Committee are responsible for the development and management of specific elements of climate risk: – The Enterprise Risk Committee, which is composed of senior risk experts from various risk disciplines, focuses on enterprise-wide risk trends, events, and cross-risk portfolios. The committee oversees the development of the bank’s holistic climate risk management framework – The Non-Financial Risk Committee which oversees, governs and coordinates the management of non-financial risks group- wide and establishes a cross-risk and holistic perspective of the bank’s key non-financial risks, including risks to own infrastructure, employees and key processes including those arising from climate risks – The Group Reputational Risk Committee, which is responsible for the oversight, governance, and coordination of reputational risk management, including potential reputational risks arising from transactions linked to climate (and broader environmental and social) issues 38