Investor presentation

April 2021 Leading lender for green and social infrastructre 1990 4.7million FOUNDING YEAR CLIENTS 100% subsidiary Second largest Local authorities. companies of BayernLB and retail clients onlinebank in Germany

Industry Leader in sustainability 110 billion 77billion BALANCE SHEET TOTAL CLIENT One of the top 20 in Germany in Germany

4.500 954 million EMPLOYEES NET INTEREST INCOME Target: Sustainable TechBank Stable Development. Despite Corona crisis.

Business Results . Continued growth in lending business across . Net interest income at previous year's level with all segments of EUR 7bn EUR 954m . Significant deposit growth of EUR 11.6bn . Profit before tax of 249m above expectations . The main driver of the increase in total assets . Investments in transformation. digitization and is participation in the TLTRO programme with restructuring as main cost drivers EUR 14bn

Risk Ratios

. Robust portfolio in the environment of the . Return on equity: 7.7% corona crisis due to focus on sectors largely . Cost-Income-Ratio: 61.2% independent of economic cycles . Equity ratio: 11.6% . Improved risk result compared to the previous year

3 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Corona-crisis impact. Minor.

Germany Business Development . Comprehensive package of measures by the . Up to 90% of employees took advantage of the home German government and federal states to office option in 2020 combat the economic consequences of corona . Support of borrowers with the help of promotional . Public authorities and development banks as loans and other tools financiers and guarantors for many aid . Stable core business programmes

Risk management Credit risk . Operational risks limited by digital mindset and . Credit Risk Task Force established to monitor and appropriate technology and processes manage the Corona crisis . No relevant liquidity effects . DKB's business almost exclusively in Germany . Equity exposure in the low three-digit range . Only single customer groups affected by Corona pandemic - including tourism . Bond exposure almost exclusively in LCR-eligible bonds of core European issuers

4 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Covid-19. Impact scenario analysis.

Loan volume (EUR bn) Corona impact scenario 30 . German Savings Banks Association Housing (DSGV) has published a scenario 24,5 analysis regarding the impact of Covid-19 20 Local authorities & social infrastructure . Based on economic sectors and 16,8 DSGV industry forecast . Considers supply shortfalls. the drop Environmental in demand and the government technologies 10 8,9 interventions

Food & agriculture Individual clients . Impact index (6 = strong impact of 3,8 Energy & supply 2.6 Other corporates crisis. 1 = low impact) 7,2 (incl. Tourism) 1,3 . “Translation” of the impact index into 0 DKB client groups DSGV 0scale 1 2 3 4 5 6

Source: DSGV and DKB 5 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Agenda.

1 Business model

2 Facts and figures

3 Sustainability

4 Funding

5 Contact

6 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 1 Business model.

2

7 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Ownership structure. Munich. .

Association of Bavarian Savings Banks Free State of Bavaria BayernLB Holding AG ≈ 75 % ≈ 25 % 100%

Binding letter of comfort and profit/loss transfer agreement

Real Estate & Corporates & Markets Savings Banks/Association

. Specialized for future . Real estate financier in Germany . Innovative Tech-Bank with sectors and chosen markets abroad sustainable focus (#geldverbesserer) . Structuring experts . Central Bank of the Bavarian . Strong earnings growth planned savings banks and partner for . Focused financial markets offer through targeted doubling of customer public business base

8 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Business model. Market leadership.

Infrastructure 48.6 . Second biggest Online Bank in Germany . Financing of services for the public welfare . Market leader regarding current accounts Retail clients 13.8

. Biggest renewable energy portfolio in . Projects usually with a Germany Corporate municipal background . Market leader in clients 14.0 agricultural business volume = 70% of total assets

9 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Business units. Two.

Business customers Retail clients 26 branches across Germany Infrastructure Corporate clients Online 7.2bn approach 8.9bn 8.7bn 24.5bn

Energy & New energies supply 2.5bn 3.8bn Mortgage loans 16.8bn Housing Personal loans 2.6bn 1.3bn Food & agriculture

Local authorities & Individual clients social Other and other infrastructure corporates

10 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Customer strategy. Growth. Sustainability.

8m clients until 2024 9,0

8,0

7,0

6,0 Scalability of lending 5,0 DKB Broker business 4,0

3,0 Increase 2,0 Expansion of profitability product range 1,0 DKB Cash

0,0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

11 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Digitization. Key to success.

DKB Crowd

Own Fintech

Stake in municipal funding platform

12 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 2 Facts & Figures.

13 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Overview.

Key figures* 2020 2019 2018 2017 2016 2015

Total assets 109.840 m 83.754 m 77.388 m 77.323 m 76.522 m 73.429 m

Customer receivables 76.557 m 69.526 m 65.933 m 64.552 m 63.228 m 61.582 m

Customer liabilities 72.409 m 60.767 m 54.366 m 53.931 m 53.438 m 48.558 m

Net interest income 954 m 954 m 945 m 935 m 795 m 790 m

Profit after tax 249 m 298 m 301 m 263 m 327 m 225 m

Cost income ratio (CIR) 61.2% 56.7% 51.5% 50.8% 45.8 % 48.0 %

Return on equity (ROE) 7.7% 9.5% 10.2% 9.6% 12.4 % 9.6 %

Equity ratio 11.6% 11.1% 11.1% 10.5% 10.0 % 9.1 %

* DKB Group in accordance with IFRS. Angaben in EUR

14 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Business performance. Positive.

Loan volume (EURbn) Customer deposits (EURbn)

+7.1 76.6 +3.6 69.5 0,2 72.4 65.9 +11.6 0,2 13,8 4,6 0,1 12,8 +6.4 60.8 12,4 14,0 54.4 3,6 4,0 13,2 13,5 49,4 40,8 35,0 48,6 40,2 43,0 2,4 2,3 2,5 13,0 14,1 15,9

2018 2019 2020 2018 2019 2020

Infrastructure Corporates Retail Other Infrastructure Corporates Retail Other

. Growth was driven by all segments, especially the . Exceptional growth in deposits, especially in the retail customer groups, products: customer segment - Local authorities & social infrastructure . Slight increase in deposit volumes in the corporate - Housing customer segment - Mortgage Loans

15 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Earning figures. Solid.

Net interest income (EURm) Cost Income Ratio LCR

61,2% 56,7% 31.12.2020 356% 945 954 954 51,5% 31.12.2019 164%

2018 2019 2020 2018 2019 2020

Net profitTourismusafter tax (EURm) Return on equity Leverage Ratio

10,2% 9,5% 7,7% 31.12.2020 3.64% 301 298 249 31.12.2019 3.71%

2018 2019 2020 2018 2019 2020

16 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Risk and figures. Improved.

RWAs based on SA* (EURbn) Risk result (EURm) Equity ratios (SA*) 10.8% 11.1% 11.6% 76,6 65,9 69,5 9.4% 9.3% 9.6% - 112 31,5 33,2 33,7 - 56 - 39 9.1% 9.1% 9.1%

2018 2019 2020 2018 2019 2020 2018 2019 2020 Equity ratio Loan book RWAs Core capital ratio (T1) Common equity ratio (CET1) Loan portfolio quality Non Performing Loans Capital measures 0,5% 1,1% Investmentgrade (bis BBB-) 0.9% . Equity increase of EUR 200 9,9% 0.9% Non-Investmentgrade (bis BB-) 0,5% million through capital reserve

Non-Investmentgrade (bis C) allocation by BayernLB 88,6% Non Performing Loans 2018 2019 2020

* Standardised approach (SA) 17 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 3 Sustainability.

18 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Sustainability. A business model.

1996 2001 First wind 2004 2011 2014 2018 turbine Launch of the First social bond Establishment of EMAS- Account opening 2016 financed. online bank. issued. DKB STIFTUNG. Certification process First green bond becomes 100% issued. digital.

1998 2002 2009 2015 First day-care First public- Sustainability Industry centre for private management Leader with children (Kita). 2020 partnership 2000 embedded ISS-oekom for project. 2017 2019 First 2003 directly in the 2013 the first time. World's first blue New forms of biogas First Board of DKB Bürger- social bond work through plant. PV plant Management. sparen issuance financed. scheme. “Projekt Arbeiten 4.0” project.

19 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Sustainability approach. Blue.

Differentiation Blue sustainability

. Expansion of the concept of sustainability . Ecological + social . Sustainable Development . Orientation towards people's Goals (SDGs) as a needs strategic foundation . Positioning sustainability in the . Inclusive instead of mainstream exclusive

20 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Sustainability goals. Ambitious.

Until 2023 Until 2030 the most convincing sustainable Become carbon neutral product range among the top 20 in our office operations banks

Until 2050 Until 2030 Meet the 2-degree-goal with EUR 80bn in sustainable all DKB products financing

Source: DKB Sustainability Strategy 2019 21 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 SDGs. Mapping. Signi- ficant Share of Sub- Volume Change vs. loan Customer groups according targets Description in € bn 2018 portfolio to Bundesbank code

Access to financial Private customers, employees, 1.4 services 10.6 bn € +4.5% 15.8% family members & others

Access to 3.8 healthcare 2.6 bn € +13.7% 3.8% Doctors, nursing & hospitals

4.1; 2; 3; Schools, kindergartens, 5 Access to education 0.8 bn € -16.6% 1.2% universities and inclusion

Access to clean 77,8% water 0.8 bn € 1.2% Water / sewage, waste 6.1; 3 -3.0% of our customer 7.2; 3; a; Support for Wind, solar, bioenergy, loans (EUR 54.1bn) b renewable energies 9.9 bn € +0.5% 14.9% hydropower & energy efficiency have a significant Access to Public transport, communal & contribution 9.1 affordable housing 16.7 bn € +6.1% 24.8% cooperative housing

Justice & strong Municipalities, foundations, public 16.3; 6 institutions 10.6 bn € +6.5% 15.9% institutions & corporations

17.1 Improve tax levies 0.1 bn € +14.7% 0.8% Tax consultancy

Source: DKB Annual Report 2019 (Data from 31.12.19) 22 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Sustainable performance. Outstanding.

. Industry Leader since 2015 . Decile Rank: 1 . Peergroup: Financials/ Public & Regional Banks . Size of peer group: 277 Banks

23 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 4 Funding.

24 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Credit. Ratings.

Mortgage Agency Type of rating Public Pfandbriefe Senior Unsecured Pfandbriefe

Moody‘s Covered Bond Rating Aaa Aaa

Issuer Rating A1 (senior preferred) Junior Senior Unsecured A2 (senior non-preferred)

Adjusted BCA baa1

Outlook stable

ISS-ESG Sustainability rating - - B- (Prime)

imug Sustainability rating Very positive (A) Positive (BBB) Positive (BB)

25 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Funding. Mix.

2% 4% Primary funding source, 8% Customer deposits diversified through all client segments

13% Development Pass-through and global loans banks (e.g. from KFW. EIB. Rentenbank) Liabilities**

62% 11% Capital markets Since 2006 mainly via Pfandbriefe Since 2016 Green Bonds funding Since 2018 Social Bonds

Customer deposits Central bank operations on an opportunistic basis. Development Banks Central Bank Participation in TLTRO III with EUR 14bn due to ECB attractive conditions Equity Other

* Treasury perspective without registered bonds held by non-banks ** In relation to total assets 26 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Funding strategy. Exclusively sustainable.

Focus: . Three Green Bond issuances: Green and Social Bonds First Senior Unsecured 16% Green Bond in Germany (2016). . Future issuances further issuance (2017) EXCLUSIVELY in First Green Bond complaint with 11% sustainable formats EU Green Bond Standard and . As green or social bonds Taxonomie (2021) or new sustainable bond formats 73% . Three Social Bond issuances: . For both benchmark First social covered bond (2018) transactions and private Conventional issues placements (in progress) First Blue Social bond (2019) Social Bonds (Pfandbriefe) First Retail Social Bond (2019) Green Bonds (Sen. Unsecured)

27 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Funding. Volume.

Placement volume (EURm) Maturity profile (EURm)

2500 2000

2000 1500 1500 1000 1000 500 500 0 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Pfandbriefe Senior unsecured (Green Bond) Social Bond Pfandbriefe Social Bond Senior unsecured (Green Bond)

• Capital markets funding depends on deposit growth and maturities • New driving factor: ECB actions, in particular TLTRO

28 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Green. Bonds.

Renewable energy portfolio: EUR 10.8bn ! 10.000 8.000 Funding   6.000 4.000 2.000 0 Green Wind Photovoltaik Sonstige Bonds 2016 500m EUR Senior non-preferred

2017 500m EUR Senior non-preferred Reporting 2021 500m EUR Senior preferred new

29 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Social. Bonds.

Social Funding infrastructure

Social Bonds

2018 500m EUR Social Pfandbrief

2019 Retail Social Pfandbrief Reporting

2019 500m EUR Blue Social Pfandbrief

30 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Public Pfandbrief. Cover pool. Federal Republic of Germany Municipal 0.2% service authorities Federal States 0,0% 9,1% Cover assets Number Volume

German federal government 6 13

German federal states 109 965 . 100% German assets

German cities and municipalties 5,383 7,701 . High granularity (Ø-Volume: Cities and EUR 1.5m) municipalities Other cover assets 1 1 (GER) 90,7% Total 5,499 8,680 Volumen in EURm

Key figures* Aaa . Rating over-collateralization Outstanding bond volume (EURm) 4,424.8 Aa1 requirements significantly Rating Moody's Aaa exceeded Over-collateralization required by 1.0% Moody‘s . Collateral score stable on NPV over-collateralization 98% low level Collateral score 2.4% Collateral Score Rating

* As of December 2020 Source: Moody’s

31 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Public Pfandbrief. Cover pool.

Overcollateralization Distribution of volumes (EURm) (EURm)

2500

2000

1500

1000

500

0 up to 1 up to 2 up to 3 up to 4 up to 5 up to over 10 year year year year year 10 year years In circulation Cover pool

32 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Mortgage Pfandbrief. Cover pool.

Thuringia 6% Baden-Württtemberg 5% Schleswig Holstein 2% Bavaria 5%

Cover assets Number Volume Saxony-Anhalt 7% Berlin 11% Residential loans 33,584 1,805 . 100% Germany Saxony 11%

Brandenburg 11% Housing-industry investors 3,232 4,958 . Very high granularity Saarland 0.4% Other cover assets 10 410 . Housing-industry investors Rhineland-Palatinate 1% Bremen 1% Total 36,826 7,173 are mainly residential Northrhine-Westphalia Hamburg 3% Volume in EURm property companies 15%

Lower Saxony 5% Hesse 8% Meckenburg Western Pomerania 7%

Key figures* Aaa Aa1 Outstanding bond volume (EURm) 4,283.5 Aa2 Rating Moody's Aaa . Rating over-collateralization Over-collateralization required by requirements significantly 11.5% Moody‘s exceeded NPV over-collateralization 66.4% Collateral score 8.6% Collateral Score Rating

* As of Dezember 2020 Source: Moody’s

33 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Mortgage Pfandbrief. Cover pool.

Overcollateralization Distribution of volumes (EURm) (EURm)

2500

2000

1500

1000

500

0 up to 1 up to 2 up to 3 up to 4 up to 5 up to 1 above year years years years years years 10 years In circulation Cover pool

34 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Mortgage. Cover pool.

Type Type. Details

0% 2% 1% 1%

8%

19%

71% 98%

Apartment buildings One- and two-family houses Residential Commercial Condominiums Office building Trade building Other (for commercial purpose)

35 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 5 Contact.

36 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020 Personal.

Uwe Jurkschat Head of Funding and Investor Relations Tel.: +49 (0)30 12030-2924 E-Mail: [email protected]

Anna Stawowy Funding and Investor Relations Tel.: +49 (0)30 12030-2910 E-Mail: [email protected]

Hannes Merlecker Funding and Investor Relations Tel.: +49 (0)30 12030-3317 E-Mail: [email protected] www.dkb.de Follow us on

@DKB_de

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39 I Investor presentation I April 2021 I IFRS-data as of 31/12/2020