Dear Readers, With its 2019 transformation, Deutsche Bank adopted a clear strategy and substantially improved its financial results. This transformation, which the Supervisory Board has continuously supported, has been successfully executed. As a result of the realignment, the bank has regained credibility and confidence, as I learned from numerous discussions with clients, employees, investors, supervisors and politicians since I took office. To be successful in the long term it is not just the results that need to be right: the bank must meet its needs and those of all relevant stakeholders for important non-financial factors. This is why the Supervisory Board has been working intensively last year on the topics raised in this report. Our focus has been on strengthening corporate governance through further reinforced controls and processes, supporting the transition to a more sustainable economy, and promoting the use of technology. In particular, effective controls and processes are essential for a global financial institution. By meeting regulatory requirements and making a significant contribution to the fight against financial crime, we will strengthen our resilience. At the same time, this is the basis for the social acceptance of our bank. Deutsche Bank has made significant remediation progress in recent years, but does not meet all of its own and its regulators’ expectations in certain areas yet. That is why, in July last year, we refocused the existing Integrity Committee. As a Regulatory Oversight Committee, it oversees the Management Board’s actions with regard to complying with legislation, administrative regulations and internal policies. The committee also supports the Supervisory Board in monitoring the litigation cases which are most relevant from a risk perspective. In addition, the Committee regularly reviews the bank’s codes of ethics and conduct to encourage exemplary behavior by our employees in every respect, in addition to their legal obligations. It also remains a key objective for the bank to promote diversity and inclusion. We also attach great importance to this principle in the composition of the Supervisory Board and the Management Board. Sustainable action and thinking are an integral part of Deutsche Bank’s strategy. Consequently, the task of advising the Management Board on environmental (E), social responsibility (S) and corporate governance (G) matters has been transferred from the former Integrity Committee to the Strategy and Sustainability Committee, while the related financial and non-financial risks are supervised by the Risk Committee. Sustainability is a top priority for the Supervisory Board. As a Global Hausbank, we support the transition to a sustainable and climate-neutral economy by enabling sustainable financing and investments and providing advice and support to clients in their transformation. In 2022, the Management Board also reported regularly on the bank’s progress in implementing the bank’s sustainability strategy. In addition to the path to a sustainable economy, technological innovations will shape banking in the years to come. Our goal is to make the best use of artificial intelligence, machine learning and data to serve our clients. In addition to effective data management and cloud transformation, security in 2022 was the defining topic in the Committee on Technology, Data and Integration. The impact of the war in Ukraine on our cyber and information security was discussed regularly. A more detailed report on the work of the Supervisory Board on these and other issues can be found in Deutsche Bank’s Annual Report. In recent years, Deutsche Bank has fundamentally transformed its business model. It is once again profitable and has re- connected closely to society and its stakeholders. We will continue along this path and the Supervisory Board will continue to support the Management Board in implementing its strategy, strengthening controls and fulfilling Deutsche Bank’s social responsibilities. Yours, Alexander Wynaendts Chairman of the Supervisory Board Deutsche Bank AG 5