Common use of TERMS AND CONDITIONS Clause in Contracts

TERMS AND CONDITIONS. The following "Product Terms" of the Securities shall, for the relevant series of Securities, complete and put in concrete terms the General Conditions for the purposes of such series of Securities. The Product Terms and General Conditions together constitute the "Terms and Conditions" of the relevant Securities. Security Type Certificate ISIN DE000DT1NSW0 WKN DT1NSW Common Code 098516557 Issuer Deutsche Bank AG, Frankfurt am Main Number of the Securities Up to 500,000 Issue Price An amount EUR per Certificate equal to the Initial Reference Level Issue Date 28 January 2014 Nominal Amount An amount EUR equal to the Reference Level of the Underlying on the Issue Date Underlying Type: Index Name: Euro BTP Future Short Index Faktor 7 Index Sponsor: Solactive AG Reuters RIC: . BTPS07IDX

TERMS AND CONDITIONS. The following "Product Terms" of the Securities shall, for the relevant series of Securities, complete and put in concrete terms the General Conditions for the purposes of such series of Securities. The Product Terms and General Conditions together constitute the "Terms and Conditions" of the relevant Securities. Security Type Certificate ISIN DE000DT1NSW0 DE000DT1NSV2 WKN DT1NSW DT1NSV Common Code 098516557 098516522 Issuer Deutsche Bank AG, Frankfurt am Main Number of the Securities Up to 500,000 Issue Price An amount EUR per Certificate equal to the Initial Reference Level Issue Date 28 January 2014 Nominal Amount An amount EUR equal to the Reference Level of the Underlying on the Issue Date Underlying Type: Index Name: Euro BTP Bund Future Short Long Index Faktor 7 Index Sponsor: Solactive AG Reuters RIC: . BTPS07IDXFGBLL07IDX

TERMS AND CONDITIONS. The following "Product Terms" of the Securities shall, for the relevant series of Securities, complete and put in concrete terms the General Conditions for the purposes of such series of Securities. The Product Terms and General Conditions together constitute the "Terms and Conditions" of the relevant Securities. Security Type Certificate ISIN DE000DT1NSW0 DE000DT1NSX8 WKN DT1NSW DT1NSX Common Code 098516557 098516565 Issuer Deutsche Bank AG, Frankfurt am Main Number of the Securities Up to 500,000 Issue Price An amount EUR per Certificate equal to the Initial Reference Level Issue Date 28 January 2014 Nominal Amount An amount EUR equal to the Reference Level of the Underlying on the Issue Date Underlying Type: Index Name: Euro BTP Bund Future Short Index Faktor 7 Index Sponsor: Solactive AG Reuters RIC: . BTPS07IDXFGBLS07IDX

TERMS AND CONDITIONS. The following "Product Terms" of the Securities shall, for the relevant series of Securities, complete and put in concrete terms the General Conditions for the purposes of such series of Securities. The Product Terms and General Conditions together constitute the "Terms and Conditions" of the relevant Securities. Security Type Certificate ISIN DE000DT1NSW0 DE000DT1NSY6 WKN DT1NSW DT1NSY Common Code 098516557 098516573 Issuer Deutsche Bank AG, Frankfurt am Main Number of the Securities Up to 500,000 Issue Price An amount EUR per Certificate equal to the Initial Reference Level Issue Date 28 January 2014 Nominal Amount An amount EUR equal to the Reference Level of the Underlying on the Issue Date Underlying Type: Index Name: Euro BTP Future Short Long Index Faktor 7 Index Sponsor: Solactive AG Reuters RIC: . BTPS07IDXBTPL07IDX