Deutsche Bank to Temporarily Suspend New Issuances of Twenty-Six Exchange Traded Notes

Deutsche Bank today announced that due to the postponement of the publication of its 2012 Annual Report and Form 20-F, it will temporarily suspend further issuances of twenty-six Exchange Traded Notes (the “ETNs”), effective after the close of trading on March 29, 2013. Deutsche Bank expects to resume issuances of these ETNs following the publication of its 2012 Annual Report and Form 20-F in mid-April 2013. The ETN holders‘ option to require Deutsche Bank to repurchase the ETNs will not be affected by this suspension. However, Deutsche Bank will not be issuing new ETNs to the market and will announce to investors its resumption of new ETN issuances in due course.

As disclosed in the pricing supplements relating to the ETNs, the market value of ETNs may be influenced by, among other things, the levels of supply and demand for the ETNs. It is possible that the temporary suspension, as described above, may materially influence the market value and the liquidity of the ETNs. The limitations on issuance and sale implemented may cause an imbalance of supply and demand in the secondary market for the ETNs, which may cause the ETNs to trade at a premium or discount in relation to their intraday indicative value.

Investors considering any purchase of the ETNs should be aware of the fact that the trading price of the ETNs on the exchange could be significantly different from their intraday indicative value, which is meant to approximate the intrinsic economic value of the ETNs. Paying a premium purchase price over the intraday indicative value of the ETNs could lead to significant losses.

The following ETNs will be affected:

Deutsche Bank AG has filed a registration statement (including a prospectus, prospectus supplement and pricing supplement) with the Securities and Exchange Commission, or SEC, for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus, prospectus supplement and pricing supplement in that registration statement and other documents that Deutsche Bank AG has filed with the SEC for more complete information about Deutsche Bank AG and this offering. You may obtain these documents without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Deutsche Bank AG, any agent or any dealer participating in these offerings will arrange to send you the prospectus, prospectus supplement and pricing supplement if you so request by calling toll-free 1-877-369-4617. This does not constitute a solicitation of a purchase of a security except in accordance with applicable law.