Option Payout Notional

THE END Of TIC TERM

the Financial Services Authority

Deutsche Bank Confidential Equities Structuring Group

SEC

NKY

Deutsche Bank Confidential Equities Structuring Group Termsheet Disclaimer

Max

P64,07rwL

Business Days TARGET Settlement Day Calculation/Paying

Underlying Initial Level k Bloomberg Code Reuters Code

Deutsche Bank AG

London Branch

London Branch Option Buyer Southern Financial

k,0

Deutsche Bank Confidential Equities Structuring Group Instrument Type OTC Option Option Seller Deutsche Bank AG

BaFin - Federal Financial

London

Expiry Date

Deutsche Bank AG Determining Party

Underlying

Underlying

Deutsche Banks