Deutsche Bank Proposes Amending GATE 2015-1 Notes

Deutsche Bank Aktiengesellschaft (the "Issuer") wishes to give notice that it is proposing making certain amendments to the terms and conditions of the outstanding EUR 223,250,000 Floating Rate Notes Due 2024 Credit Linked to the "GATE 2015-1" Replenishable Loan Portfolio, with the following CUSIP and ISIN numbers:

The Issuer requests noteholders to contact the Issuer to execute a non-disclosure agreement in order to facilitate a detailed discussion of the proposals. The Issuer's contact details are in the "GATE 2015-1" Offering Circular dated May 5, 2015. The Issuer may at any time at the Issuer's sole and absolute discretion decide not to propose such amendment of the GATE 2015-1 Notes.

For the avoidance of doubt, this notice does not constitute a notice specifying an Early Redemption Date in respect of the GATE 2015-1 Notes.

About Deutsche Bank

Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany's leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific. Additional information about Deutsche Bank is available at www.db.com.

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