Two countries – one mission

Transatlantic Outreach Program and Deutsche Bank December 2006

Hanns Michael HölzManaging DirectorHanns-michael.hoelz@db.com

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“Let us think of education

as the means of developing our greatest abilities,

because in each of us there is a private hope and dream,

which, fulfilled, can be translated into benefit for everyone.”

John F. Kennedy

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Let us tackle the great challenges of the world – together

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Economic growth

Widespread poverty

Climate change

Health

Education

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Climate change

Every day, 100 to 150 animal and

plant species die out

Every day, 115 square miles

are devastated

Every day, 86 million tons of

fertile soil are eroded

Every day, 100 million tons of

green house gas are released Floodwaters after Katrina

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Widespread poverty

More than half of the world’s population live on less than 2 dollars a day

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Economic growth

Until 2020, world economy will grow by about 4 % per year

Asian economy is expected to grow by about 6.5 to 6.9 % per year

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Health

Every day, 1,400 children die from AIDS

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Education

Worldwide, more than 130 million children do not receive

sufficient education

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No man, no woman, no city, no country, no continent

could tackle these challenges all by themselves.

Let us tackle the great challenges of the world – together

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Our common basis: We share the same values, goals, and the same future

Democracy

Equality

Independence

Human Rights

Solidarity

Self-fulfilment

Justice

Free enterprise

Freedom

Environmental protection Charity

Sustainability

Civility

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Appreciation, trust and true knowledge of one another – these ingredients grant success in the mission to improve the world.

To achieve such a relationship, we must meet each other, talk to each other. understand each other.

To facilitate such processes, the idea of TOP was born!

An initiative of

Auswärtiges Amt (Department of State, GER) Goethe-Institute Deutsche Bank Robert Bosch Stiftung (Foundation)

TOP Transatlantic Outreach Program crosses boundaries

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Where do we receive our values? How do we get to know the world? Who influences our point of view?

Family School College, University or apprenticeship

TOP targets social studies teachers and educatorssince we believe that sharing knowledge through edu-cation and learning is an effective way of promotingtolerance and erasing prejudice.

And you are the most effective multipliers!

What is TOP?

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TOP is your link to Germany

The Transatlantic Outreach Program is

offering all-expense-paid study and travel tours

to Germany for social studies educators.

promoting in-service teacher training.

providing up-to-date, U.S. educator-designed,

instructional kits about modern Germany to

K-12 US and Canadian social studies educators.

Instructional kits

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... and nothing beats first hand experience

Joined by TOP Director, Stefan Brunner, and Hanns-Michael Hoelz of Deutsche Bank, our TOP group welcomed U.S. President George W. Bush and German Chancellor Angela Merkel to the Hanseatic city of Stralsund.

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Deutsche Bank supports and fosters TOP because ...

Deutsche Bank considers social involvement a

responsibility, particularly in communities where

we are present.

With more than 10,000 employees in New York alone,

we have many strong ties with the USA.

Staff on both sides has therefore learned to bridge the

Atlantic and cultural gaps.

With this in mind we co-founded the Transatlantic

Outreach Program. For us, promotion of understanding

and tolerance is not only essential to future business

relations, but also to all other relations between our two

countries.

The Transatlantic Outreach Program and its social

studies teachers are multiplying these efforts.

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Deutsche Bank – identity and mission

Our identity

Leading global investment bank

with strong and profitable private clients franchise.

Our mission

We compete to be the leading global provider of financial

solutions for demanding clients, creating exceptional value

for our shareholders and people.

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More than 130 years in business

Deutsche Bank follows a long-standing tradition,

which goes back to its foundation in 1870, to

promote and facilitate trade relations between

Germany, other European countries and

overseas markets.

Since then, its status as the largest private-

sector bank in the German home market and an

internationally recognized financial services

provider has put it in the public limelight.

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Global reach - key driver for success

Breakdown of employees by regions, December 2005

63,400 employees worldwide, DB operates in 73 countries

Germany:26,336 (41.5%)

Japan:1,002 (1.6%)

Australia/NZ:983 (1.5%)

Other Asia:5,184 (8.2%)

Africa:162 (0.3%)

Continental Europe:11,748 (18.5%)

United Kingdom:6,534 (10.3%)

North America:11,134 (17.6%)

South America:345 (0.5%)

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Sustainability – factor of success Economics, ecology and social responsibility at Deutsche Bank

We act sustainably:

The Sustainability Principle is integrated in all our business processes via policies and target definitions.

Our Sustainability Management System is certified according to ISO 14001.

We develop sustainable products, like financing projects for the promotion of renewable energies and financial assets that are invested according to the Sustainability Principle.

We are active in international partnerships, like the UNEP Finance Initiative, UN Global Compact and the Global Reporting Initiative.

We support sustainability projects, like microfinancing in developing countries and Peace Parks in Africa.

The Sustainability Principle:

In the long run, success will only be possible when business, environmental an

social responsibilities are all taken into account.

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Global responsibility as an Corporate Citizen

The Deutsche Bank assumes responsibility for the

community.

Our engagement is basically covered by our staff with

different cultural backgrounds, ideas and

expectations.

Based on our values trust, teamwork, performance

and innovation, we realize various projects e.g. in

the fields of education, music, art and sustainability.

We focus on sustainability, follow the idea „Help to

help oneself“ and effectively encourage and

advance the opportunities of young persons.

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CSR/Sustainability – dedication in many areas

CSR/Sustainability

Management

Day-to-day business

International Networks

Stakeholder Dialogue

Climate Change

Community Development

CSR Activities

Foundations’ Network

Volunteering

Business

Philanthropy

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CSR/Sustainability – Licence to operate

Social

recognition

Creating value for all our stakeholders

Building

confidence

Minim

izing riskLong-te

rm

growth

Innova

tions

New

mar

ket

area

sLicence to

operate

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Deutsche Bank’s commitment to the UN Global Compact

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Global governance – our partnerships

Member since 1998Bellagio Forum for Sustainable DevelopmentInternational network of foundations, NGOs, media institutions and corporations to promote and develop sustainability projects, founded in 1993

Member since 2002Transatlantic Outreach Programme (TOP)Since 2002, Initiative of German Department of State, Goethe-Institute, Deutsche Bank and Robert Bosch Foundation

Member of Board of DirectorsInvolvement as part of Deutsche Bank’s governance

Global Reporting InitiativeMulti-Stakeholder-Initiative conceived in 1997Promotion of reporting on economic, ecological, and social performance of organizations

Founding member

Member of the steering committee

UNEP FIConceived at Rio Earth SummitSpecialist working groupsGrowth from 1992-2004: from 6 to 231 banks

Original signatoryMember of Kofi Annan’s Advisory Council 2000-2004

UN Global CompactUN initiated code of conduct for corporates: Principles regarding human rights, labour, environment and anti-corruption

The role of Deutsche BankOrganization/Institution

Member since 1998World Business Council for Sustainable DevelopmentGlobal network of leading international companies out of several industries

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Our commitment to stopping climate change

Starting point

Climate change causes enormous economic damage, which can also effect our stakeholders. Drastically lowering greenhouse gas emissions is in the economic interest of Deutsche Bank.

Our counter-strategy

Avoiding greenhouse gas emissions

Promotion of renewable energies

Raising public awareness of the topic of climate change

Neutralizing unavoidable greenhouse gas emissions

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Microcredits to fight poverty and to provide sufficient education

Microcredits in developing countries have proven to be a

solution-oriented means to put families in a position to

provide for themselves, thus break out of the cycle of

poverty.

The Deutsche Bank Microcredit Development Fund

and the Global Commercial Microfinance Consortium

support the idea of microfinance and make an important

contribution to the development of stable economic

structures.

Low interest loans are made to local microfinance

institutions who use the money as collateral receiving at

least double the amount in local currency.

Microcredits are granted to founders of small businesses

who use them to build a small business, acquire better

equipment, or to be able to operate a retail trade.

Candida Gutiérrez from Nicaragua started a street sale business with the help of a microcredit, worth about US $ 115. Today, ten years later, she applies for a loan of more than US $ 5.000,00, in order to build a spa in Managua.

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Microcredits

Deutsche Bank Microcredit Development Fund (DBMDF)

Established in 1997 Managed by Deutsche Bank Americas

Foundation Offers low-interest loans to Microfinance

institutions (MFIs) around the world Since 1997 the DBMDF has invested USD

4,2 million in loans to 40 MFIs in 25 countries with a cumulative impact of nearly USD 55 million

Global Commercial Microfinance Consortium

Debt Fund launched in 2005 Innovative public-private partnership Manager: Deutsche Bank Community Development Finance Group Institutional partners: banks, pension funds, insurance companies, mutual funds, development agencies Total capitalization of USD 75 million Initial portfolio of financings, totaling USD 30 million

Our aim is to helping Microfinance programs

reach scale and long-term durability as sustainable institutions.

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Win-win situations for all stakeholders

Shareholders Stock exchanges, rating agencies and research

institutes reward sustainable trade. That contributes to the business success of Deutsche Bank.

Customers Our customers benefit from product

innovations and services which arise from sustainable business.

Staff Our colleagues are the basis for sustainable

trade, which also guarantees them an equitable working environment.

Society Active participation and problem-solving

oriented dialogues in international partnerships are the expression of our global responsibility as a “Corporate Citizen“.

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Cautionary statement regarding forward-looking statements and non-U.S. GAAP financial measures

This presentation contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations. Any statement in this presentation that states our intentions, beliefs, expectations or predictions (and the assumptions underlying them) is a forward-looking statement. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our trading revenues, potential defaults of borrowers or trading counterparties, the implementation of our management agenda, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 23 March 2006 on pages 7 through 13 under the heading "Risk Factors." Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir.

This presentation contains non-U.S. GAAP financial measures. For a reconciliation to directly comparable figures reported under U.S. GAAP refer to the 1Q2006 Financial Data Supplement, which is accompanying this presentation and available on our Investor Relations website at www.deutsche-bank.com/ir.