Notice: Net Payment Amount on Naspers STUB Deutsche Bank AG London JSE Code: DBNPAS Short Name: DBSTNPAS Long Name: DB STUBNPAS 15JAN2019 Underlying: Naspers Limited (NPN) Listing Date: 9 February 2018 Expiry Date: 15 January 2019 ISIN: DE000DS0KVJ0 (“Naspers STUB”) NOTICE: Net Payment Amount on Naspers STUB Holders of Naspers STUB certificates are advised that following the declaration of a distribution in connection with Tencent Holdings Ltd (the “A Shares” in respect of the certificates), the Calculation Agent has determined that, for the purposes of calculating the Redemption Amount (as set out in 1.30 of the Product Conditions of STUB Certificates), the Net Payment Amount (as set out in 1.28.1 of the Product Conditions of STUB Certificates) will be determined using a dividend amount of HK$ 0.026 per A Share. 27 December 2018 Manager or Issuer: Deutsche Bank AG, London For further information contact: Tel: +27 11 775 7079 E-mail: email@example.com Date: 27/12/2018 11:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.