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Multi Asset Investment Process iviuiti Asset Investment Committee (MIC) Investment Process: from global to local The Multi Asset Investment Committee (MIC) good eao auoce;;;

' that provide local flavor with higher granularity and integrate regional investors' preferences. The regional lead allocations serve as basis for Multi Asset Allocation strategies. Portfolio Implementation reCommendation (PIC) Different asset-class specific groups -ible portfolio impler on single security level s

Multi Asset Investment Process iviuiti Asset Investment Committee (MIC) Investment Process: from global to local The Multi Asset Investment Committee (MIC) good eao auoce;;;

' that provide local flavor with higher granularity and integrate regional investors' preferences. The regional lead allocations serve as basis for Multi Asset Allocation strategies. Portfolio Implementation reCommendation (PIC) Different asset-class specific groups -ible portfolio impler on single security level s

Multi Asset Investment Process iviuiti Asset Investment Committee (MIC) Investment Process: from global to local The Multi Asset Investment Committee (MIC) good eao auoce;;;

' that provide local flavor with higher granularity and integrate regional investors' preferences. The regional lead allocations serve as basis for Multi Asset Allocation strategies. Portfolio Implementation reCommendation (PIC) Different asset-class specific groups -ible portfolio impler on single security level s

lasses are implemented through top-quartile proprietary and third- party mutual funds and ETFs. Deutsche Bank Wealth Management 3 EFTA01477943 Multi Asset Investment Process A global, consistent and transparent process Multi Asset Investment Process Portfolio Construction CIO View Global Asset Research Allocation

that provide local flavor with higher granularity and integrate regional investors' preferences. The regional lead allocations serve as basis for Multi Asset Allocation strategies. PIC Portfolio Implementation reCommendation (PIC) Different asset-class specific groups create investable portfolio implementation r

ns. These groups use best in class research and the entire know-how of the group to advise best solutions for Multi Asset clients. EFTA01478016 Multi Asset Investment Process The Americas Regional Investment Committee refines asset allocations for clients Multi Asset Investment Committee Global asset allocation Americ

that provide local flavor with higher granularity and integrate regional investors' preferences. The regional lead allocations serve as basis for Multi Asset Allocation strategies. PIC Portfolio Implementation reCommendation (PIC) Different asset-class specific groups create investable portfolio implementation r