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1Notes to the Consolidated Financial Statements201 – Basis of Preparation3The accompanying consolidated financial statements present the operations of DWS Group 4GmbH & Co. KGaA (DWS KGaA) with its business address at Mainzer Landstrasse 11-17, 60329 5Frankfurt am Main, and its consolidated subsidiaries presented as a single economic unit 6(collectively the Group). 7The Group as asset manager offers individuals and institutions access to the Group's 8investment capabilities across all major liquid and illiquid asset classes. 9DWS KGaA is registered with the commercial register of the local court of Frankfurt am Main, 10Germany, under HRB 111128. The company is a partnership limited by shares incorporated in 11Germany and governed by German law. 12DB Beteiligungs-Holding GmbH, has its registered seat in Frankfurt am Main, Germany, is 13registered with the commercial register of the local court of Frankfurt am Main, Germany, 14under HRB 87504 and is the parent company of DWS KGaA holding a 79.49% share of 15DWS KGaA. The remaining shares are held by external investors. The ultimate parent 16company of DWS KGaA is Deutsche Bank AG, headquartered in Frankfurt am Main, Germany, 17registered with the commercial register of the local court of Frankfurt am Main, Germany, 18under HRB 30000. The consolidated financial statements of Deutsche Bank AG in accordance 19with IFRS can be viewed on the Investor Relations website of Deutsche Bank AG (https://20www.db.com/ir).21The accompanying consolidated financial statements have been prepared in accordance with 22IFRS as issued by the IASB and endorsed by the EU and in compliance with Section 315a/315e 23German Commercial Code. The Group’s application of IFRS results in no differences between 24IFRS as issued by the IASB and endorsed by the EU. 25The Executive Board has a reasonable expectation that DWS KGaA and the Group have 26adequate resources to continue in operating existence for the foreseeable future. Accordingly, 27the Group’s annual consolidated financial statements have been prepared on a going concern 28basis. 29The consolidated financial statements have been prepared as at the end our reporting period, 3031 December 2023 and comprise the period from 1 January 2023 to 31 December 2023. The 31individual financial statements of the companies included in the consolidation are drawn up 32on 31 December 2023, the same accounting date, as that of DWS Group GmbH & Co. KGaA. 33They have been prepared using uniform accounting policies. Please refer to note ‘02 – 34Significant Accounting Policies and Critical Accounting Estimates’ for additional information.35The consolidated financial statements are stated in euro, the presentation currency of the 36Group except when otherwise indicated and are rounded to the nearest million. Due to 37rounding, numbers presented throughout this document may not add up precisely to the 38totals provided and percentages may not precisely reflect the absolute figures. “N/A” is read 39as not applicable.40The Group’s consolidated balance sheet is not presented using a current/non-current 41classification. The following balances are generally considered to be current: cash and bank 42balances, financial assets at fair value through profit and loss, other financial assets, assets 43for current taxes, financial liabilities at fair value through profit and loss, other short-term 44liabilities, other financial liabilities, provisions, and liabilities for current taxes.The following 45balances are generally considered to be non-current: equity method investments, goodwill 46and other intangible assets, deferred tax assets, long-term debt and deferred tax liabilities. All 47other balances are mixed in nature (including both current and non-current portions). 48Disclosures about the management of risks arising from financial instruments as required by 49IFRS 7 “Financial Instruments: disclosures” are set forth in the ‘Risk Report’ of the 50‘Summarised Management Report’ and are an integrated part of the consolidated financial 51statements. These audited disclosures are marked with a reference to IFRS 7/IAS 1 within the 52‘Risk Report’.53On 7 March 2024, the Executive Board prepared the consolidated financial statements, 54submitted them to the Supervisory Board for review and approval and released them for 55publication. 56         57To our 58Shareholders59Summarised 60Management Report61Consolidated 62Financial Statements Compensation Report Corporate Govern-63ance Statement64Supplementary 65Information DWS 2023 Annual Report66 67Notes to the Consolidated Financial Statements6877 01 – Basis of Preparation