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110% higher or lower than the average of the share prices (closing auction prices of the DWS 2share in Xetra trading and/or in a comparable successor system on the Frankfurt Stock 3Exchange) on the last three stock exchange trading days before the obligation to purchase. In 4the case of a public purchase offer, it may not be more than 20% higher or lower than the 5average of the share prices (closing auction prices of the DWS share in Xetra trading and/or in 6a comparable successor system on the Frankfurt Stock Exchange) on the last three stock 7exchange trading days before the day of publication of the offer. If the volume of shares 8offered in a public purchase offer exceeds the planned buyback volume, acceptance must be 9in proportion to the shares offered in each case. The preferred acceptance of small quantities 10of up to 100 of the company’s shares offered for purchase per shareholder may be provided 11for. 12In addition, the General Partner is authorized to dispose of the purchased shares on the stock 13exchange or by an offer to all shareholders. The General Partner is also authorized to use 14shares purchased on the basis of authorizations pursuant to Section 71 (1) number 8 of the 15German Stock Corporation Act (AktG) to issue staff shares to employees and retired 16employees of DWS Group or to use them to service option rights on shares of DWS and/or 17rights or duties to purchase shares of DWS granted to employees or members of executive or 18non-executive management bodies of DWS Group. 19Furthermore, the General Partner is authorized, with the exclusion of shareholders’ pre-20emptive rights, to sell such own shares to third parties against cash payment if the purchase 21price is not substantially lower than the price of the shares on the stock exchange at the time 22of sale. The General Partner may only use this authorization if it has been ensured that the 23number of shares sold on the basis of this authorization does not exceed 10% of the 24company’s share capital at the time this authorization becomes effective or – if the amount is 25lower – at the time this authorization is exercised. Shares that are issued or sold during the 26validity of this authorization with the exclusion of pre-emptive rights, in direct or analogous 27application of Section 186 (3) sentence 4 of the German Stock Corporation Act (AktG), are to 28be included in the maximum limit of 10% of the share capital. Also to be included are shares 29that are to be issued to service option and/or conversion rights from convertible bonds, 30bonds with warrants, convertible participatory rights or participatory rights, if these bonds or 31participatory rights are issued during the validity of this authorization with the exclusion of 32pre-emptive rights in corresponding application of Section 186 (3) sentence 4 of the German 33Stock Corporation Act (AktG). 34Finally, the General Partner is also authorized to cancel shares acquired on the basis of the 35described authorizations or a preceding authorization without the execution of this 36cancellation process requiring a further resolution by the General Meeting. 37By resolution of the Annual General Meeting of 5 June 2019 the General Partner is authorized 38pursuant to Section 71 (1) number 8 of the German Stock Corporation Act (AktG) to execute 39the purchase of shares under the resolved authorization also with the use of derivatives. The 40purchase of shares may be executed, apart from in the ways described above with the use of 41put and call options or forward purchase contracts. DWS KGaA may sell to third parties put 42options based on physical delivery and buy call options from third parties if it is ensured by 43the option conditions that these options are fulfilled only with shares which themselves were 44acquired subject to compliance with the principle of equal treatment. All share purchases 45based on put or call options are limited to shares in a maximum volume of 5% of the actual 46share capital at the time of the resolution by the General Meeting on this authorization. The 47term of the options must be selected such that the share purchase upon exercising the option 48is carried out at the latest on 31 May 2024.49The authorization provides for certain thresholds for such transactions. The purchase price to 50be paid per share upon exercise of the put options or upon the maturity of the forward 51purchase may not exceed by more than 10% or fall below 10% of the average of the share 52prices (closing auction prices of the DWS share in Xetra trading and/or in a comparable 53successor system on the Frankfurt Stock Exchange) on the last three stock exchange trading 54days before conclusion of the respective transaction in each case excluding ancillary purchase 55costs but taking into account the option premium received. The call options may only be 56exercised if the purchase price to be paid does not exceed by more than 10% or fall below 5710% of the average of the share prices (closing auction prices of the DWS share in Xetra 58trading and/or in a comparable successor system on the Frankfurt Stock Exchange) on the 59last three stock exchange trading days before the acquisition of the shares. 60The authorized capitals and the authorization to purchase and sell own shares have not been 61utilized so far.62Significant Agreements which Take Effect, Alter or Terminate upon a 63Change of Control of the Company Following a Takeover Bid64Significant agreements which take effect, alter or terminate upon a change of control of the 65company following a takeover bid have not been entered into.66Agreements for Compensation in Case of a Takeover Bid67If a member of the Executive Board leaves the Group within the scope of a change of control, 68she or he is not entitled to any specific one-off compensation payment. For information on the 69compensation system, please refer to the ‘Compensation Report — Executive Board 70Compensation’.71        72To our Shareholders Summarised 73Management Report74Consolidated 75Financial Statements Compensation Report Corporate Govern-76ance Statement77Supplementary 78Information DWS 2023 Annual Report79 80Complementary Information8171 Information pursuant to Sections 289a and 315a of the German Commercial Code and Explanatory Report