Deutsche Asset & Wealth Management Deutsche Bank AG, New York Branch 60 Wall Street, New York, NY 10005 Certificate of Deposit Terms and Conditions Statement Deutsche Bank Aktiengesellschaft, a stock company organized under the laws of the Federal Republic of Germany ("Deutsche Bank AG" or "we," "us" or "our"), acting through its New York branch (NY Branch), has prepared this Terms and Conditions statement (Terms and Conditions Statement) in connection with the issuance by Deutsche Bank AG NY Branch of certificates of deposit (the "NY Branch CDs"). Deutsche Bank Securities Inc. (DBSI) is a U.S. registered broker-dealer and an indirect wholly owned subsidiary of Deutsche Bank AG. Deutsche Bank Trust Company Americas (DBTCA) is a New York state•chartered bank and an indirect wholly owned subsidiary of Deutsche Bank AG. We have appointed each of DBSI and DBTCA as placement agent with respect to the NY Branch CDs and may appoint other placement agents from time to time. The placement agents may engage third parties to perform clearing broker or custodial services with respect to the NY Branch CDs. Each CD is a deposit obligation of Deutsche Bank AG NY Branch. Deutsche Bank AG NY Branch's accounts and deposits, and any investment by you in the CDs issued by Deutsche Bank AG NY Branch, are NOT insured by the Federal Deposit Insurance Corporation (FDIC) or any other governmental agency of the United States, the Federal Republic of Germany or any other jurisdiction. This Terms and Conditions Statement sets forth the terms that will apply generally to the NY Branch CDs. Deutsche Bank AG will provide to you a Truth-In-Savings Rate Information Disclosure Addendum reflecting the specific terms of the NY Branch CDs that you purchase. You should review carefully this Terms and Conditions Statement and the Truth-In-Savings Rate Information Disclosure Addendum relating to your purchase of any NY Branch CD. The NY Branch CDs are only offered in jurisdictions w