MARKETING MATERIAL db X-tracker ETFs – Simply buy the market index to provide alongerdatedhistory, withahistoricaltimeseriesdatingbackuntil1959. Since 1981theIndex iscalculatedasaperformance component issueshave beenadmittedtothePrimeStandardsegment.The Index was linked atitsinceptiontothe"Börsen-Zeitung" index actively tradedGermancompanies(hereinafterreferredtoas“Index Securities”)tradedontheFrankfurt StockExchange (FSE).Its30 The DAX® Index (the“Index”) operatedbyDeutsche BörseAG reflectstheGermanblue-chipsegmentcomprisinglargestandmost DAX® Index ETF performancecalculationincludesreinvested dividends.Index performancecalculatedonatotalreturnbasis. index replication costs. Past performanceisnotareliableindicatoroffutureresults.Performance shown above isnetoffundfeesandany Source: DeutscheBankAG, 29July2016 ¹ Pleaseseepage2inthisdocumentformoredetailsofAll-infee * ETFinvests inallorarepresentative sampleofsecuritiestheunderlyingindex. X-trackers thesecondlargestETFprovider inEuropeandamongstthetopfive globally. grown rapidly. Itnow hasaroundGBP46.04bninassetsundermanagement(asofJuly, 2016)acrossmorethan300products,makingdb intraday tradingandliquidityelementsofstockswiththediversification offeredbyanindex fund.Sincelaunchin2007db X-trackers has funds thattradeonstockexchanges justlike anyotherlisted,tradablesecurity. They combineinasingle,easytouseproductthekey db X-trackers isDeutscheBankAssetManagement'sexchange-traded funds(ETF)division.ETFsareregulated,open-endedinvestment db X-trackers ETFs-DeutscheAMExchange Traded Funds a subfundofdbx-trackers. db x-trackers DAX® UCITSETF(DR) Historical Performance Figuresasof29July2016 Reporting Fund Total FundAssets NAV perShare Income treatment Financial year end All-in fee¹ Share classlaunchdate Fund launchdate Portfolio Structure Investment Methodology Fund currency UCITS IVcompliant ISIN Fund name Fund information Madrid StockExchange Stockholm StockExchange Italian StockExchange Stuttgart StockExchange SIX SwissExchange Exchange Listing andtradinginformation DAX® UCITSETF(DR) DAX® Index -5.65% -5.40% 7/12 7/11 - - - - DBX1DA 2825575 DBX1DA NSIN 21.76% 22.20% 7/13 7/12 - Yes EUR 3,976,253,255(29July2016) (29July2016) EUR 101.10 Reinvestment 31 December 0.09% p.a. 10 January2007 10 January2007 Full Replication Direct Replication* EUR Yes LU0274211480 db x-trackers DAX® UCITSETF(DR) 13.32% 13.67% 7/14 7/13 - DXDAX XDAX XDAX DBXD XDAX DBXD (local) Exchange Code 19.90% 20.21% 7/15 7/14 - -9.03% -8.59% 7/16 7/15 - EUR SEK EUR EUR CHF EUR Trading Currency 53.97% 57.43% launch Since ETF 09:00 -17:30 09:00 -17:30 09:00 -17:30 09:00 -20:00 09:00 -16:30 09:00 -17:30 (Local Time) Trading Hours — — — Key Risks and anyindex replicationcosts. Past performanceisnotareliableindicatoroffutureresults.Performance shown above isnetoffundfees Source: BloombergL.P., 29July2016 Historical Performance DAX® Index 10,500 13,500 Points This factsheetisamarketing documentandsummarisescertainaspectsof Investors shouldbeaware thatDBAffiliatesmay fromtimeto own a Investors shouldnotethatthedbX-trackers UCITSETFsarenotcapital composition oftheFund'sportfolioandinformationonindex constituents. (“KIID”), whichisavailable onourwebsite alongsidefulldisclosureofNAV, the understanding oftheProspectusandKey Investor InformationDocument the productonly. Anyinvestment decisionshouldbemadeonthebasisofan and may receive lessthanthecurrent netassetvaluewhensellingthem. investors may pay morethanthecurrentnetassetvaluewhenbuyingshares intermediary (e.g.astockbroker) andmay incurfeesfordoingso.Inaddition, must buyandsellsharesonasecondarymarket withtheassistanceofan secondary market cannotusuallybesolddirectlybacktotheETF. Investors allowed byapplicablelaws orinternalguidelines.Sharespurchasedonthe holding proportionoftheotherShareholdersinSub-Fundbeyond those Value whichmightresulttheclosureSub-Fundor(b)anincreasein Net AssetValue oftherelevant Sub-Fundtobelow theMinimumNetAsset A reductionintheholdingsofDBAffiliatesmay resultin(a)areductionthe significant amountorproportionofthe overall investor holdingsinaSub-Fund. be preparedandabletosustainlossesofthecapitalinvested uptoatotalloss. protected orguaranteedandinvestors ineachdbX-trackers UCITSETFshould 1,500 4,500 7,500 Date Jul98 t+3 t+2 t+2 t+2 t+2 t+2 Settlement Jul00 Jul02 DXDAX SM XDAX SS XDAX IM XDAX GS XDAX SW XDAX GY Bloomberg Ticker Jul04 Jul06 Jul08 DXDAX.MC XDAX.ST XDAX.MI XDAX.SG XDAX.S XDAX.DE Reuters RIC Jul10 Jul12 XDAXNAV.DE XDAXINAVSEK.DE XDAXNAV.DE XDAXNAV.DE XDAXINAVCHF.DE XDAXNAV.DE iNAV Reuters Jul14 Jul16 MARKETING MATERIAL db X-tracker ETFs – Simply buy the market indices standatanyparticularday orotherwise.These index sponsorsshallnotbeliabletoanypersonfor anyerrorintheirindicesandshallnotbeunderobligationtoadvisepersonoftherein. The index sponsorsoftheindicesreferredtoherein(includingDeutscheBankAG) make nowarranty orrepresentationwhatsoever eitherastotheresultsobtainedfromuseofindicesand/orfiguresat which thesaid Index Disclaimer the conductofUKbusiness. by DBAG LondonBranch.DBisauthorisedunderGermanBankingLaw (competentauthority:BaFin –Federal Financial Supervising Authority) andDBAG LondonBranchisregulatedbytheFinancial ConductAuthority for information containedinthisdocumentisprovided forinformationpurposes only. Inthecaseofany inconsistencywiththerelevant prospectusofaproduct,thelatestversion oftheprospectusshallprevail. IssuedintheUK is madeastotheaccuracy, completenessorcorrectnessoftheinformationcontained inthisdocument.DeutscheBankassumesnoresponsibilityorliabilityforanyerrorsomissions with respecttothisinformation.The The informationcontained inthisdocumentisbelieved tobecorrect,completeandaccurateevery efforthasbeenmadetorepresentaccurateinformation.However, norepresentationorwarranty, expressed orimplied, com prohibited. For moreinformationontheFundpleaserefertorelevant Fund’s fullprospectusinEnglishandtotherelevant Key Investor InformationDocumentinEnglish,allavailable onrequestorwww.dbxtrackers. recommendation toenterintoanytransaction.Itisnotintendedfordistributionorusebyperson entity who isacitizenorresidentoflocatedinanyjurisdictionwheresuchdistribution,publicationusewould be This documentdoes not createanylegallybindingobligationsonthepartofDeutscheBankAG and/oritsaffiliates. Without limitation,thisdocumentdoesnotconstituteinvestment adviceanddoesnotconstituteanofferor what possibleimpactsuchholdings,oranydisposalthereof, byDBmay have onthem. company. Investors shouldbeaware thatDBmay fromtimetoown interestsintheFundwhichmay representasignificant amountorproportionofthe overall investor holdings intheFund.Investors shouldconsider undertaking forcollective investment pursuanttoPart Iofthelaw of17December2010 andthereforequalifiesasaUCITSunderallrelevant laws andregulations.DeutscheAssetManagementS.A.actsasthemanagement db x-trackers isregisteredwiththeLuxembourg Trade andCompanies’RegisterundernumberB119899,withitsregisteredofficeat49, avenue J.F.Kennedy, L-1855 Luxembourg, andisregisteredinLuxembourg asan Other importantinformation investment may increaseordecreasesubjecttomovements inexchange rates. - Movements inexchange ratescanimpactthevalueofyour investment. Ifthecurrencyofyour countryofresidenceisdifferentfromthecurrencyinwhichunderlyinginvestments ofthefundaremade,valueyour - Past performanceisnotareliableindicator offutureresults. - The valueofaninvestment inaDeutsche Bankfundmay godown as well asupandcan resultinlosses,upandincludingatotallossoftheamountinitiallyinvested. Key riskfactorstoconsider beforeinvesting: Investments infundsinvolve numerousrisksincluding,amongothers,generalmarket risks,creditforeignexchange risks,interestraterisksandliquidityrisks. © DeutscheBank2016.Allinformationasof29July Disclaimer details. The preciseimpactof thesecostscannotbeestimatedreliablyinadvanceasitdependsonavarietyofnon-staticfactors. Investors areencouragedtoconsulttheauditedannual-andun-auditedsemi-annualreports for and actualtaxationofeithercapitalgainsordividendsinthefund. Examples include:Brokerage andothertransactioncosts,Financial Transaction Taxes orStampDutiesaswell aspotentialdifferencesintaxationofeithercapitalgainsordividendassumedtherelevant underlyingindex, Investors shouldbeaware thatinadditiontotheAll-InFee, otherfactorsmay negatively impacttheperformanceoftheirinvestment relative totheunderlyingindex Clarification ofAll-In Fee Source: DeutscheBankAG, 29July2016 Source: DeutscheBankAG, 29July2016,*asof2016 Top 10index constituents Index information AG ORDREGDEURNPV SEPREFNONVTGEURNPV AG ORDREGDEURNPV AG ORDREGDEURNPV SEORDREGDEURNPV Daimler AG ORDREGDEURNPV BASF SEORDEUR NPV AG ORDREGDEURNPV SAP SEORDEURNPV AG ORDEURNPV Index Bloombergticker Index Reuters RIC Market Capitalisation* PE Ratio* Dividend Yield* Countries inIndex Number ofIndex constituents Index Type 23.06 2.95% 1 30 Total ReturnGross DAX .GDAXI EUR 825.13Billion 3.05% 3.24% 3.42% 5.74% 6.92% 7.18% 7.75% 8.79% 8.95% 9.31% ETF performancecalculationincludesreinvested dividends. index replicationcosts. Past performanceisnotareliableindicatoroffutureresults.Performance shown above isnetoffundfeesandany Source: DeutscheBankAG, 29July2016 London EC2N2DB 1 GreatWinchester Street Winchester House Deutsche AssetManagement Further information ondbX-trackers France Finland Denmark Chile Austria Registrations for publicdistribution Source: DeutscheBankAG, 29July2016 Sector weightings oftheindex Historical Performance DAX® UCITSETF(DR) Date 20 40 60 80 100 120 EUR Jul07 Jul08 Jul09 Netherlands Luxembourg Italy Ireland Jul10 Jul11 Reuters: DBETF E-Mail: [email protected] Info: etf.deutscheam.com Fax: +442075472785 Tel.: +442075471747 11.14% 14.47% 20.07% 22.29% 14.36% 1.71% 5.84% 6.95% 3.19% Jul12 Consumer Services Utilities Telecommunications Health Care Technology Industrials Financials Basic Materials Consumer Goods Jul13 United Kingdom Switzerland Sweden Spain Norway Jul14 Jul15 Jul16