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1The base salary currently amounts to € 2,800,000 per year for the Chairman of the Executive 2Board and between € 950,000 and € 1,200,000 per year for the other Executive Board 3members. It is paid in twelve equal monthly instalments.4Fringe benefits5Furthermore, all Executive Board members are entitled to receive “fringe benefits”. They 6consist on the one hand of contractually agreed regularly recurring benefits such as 7contributions to insurance policies, coverage of costs for participation in medical check-ups 8and – for Executive Board members based in Germany – a company car option on the basis of 9the applicable Company Car Policy of Deutsche Bank Group. In addition, Executive Board 10members not resident in Germany may be granted certain ad-hoc benefits, such as 11reimbursement of costs for preparing income tax returns.12The availability and individual utilization of fringe benefits may vary depending on location 13and personal situation, which is why the amount of fringe benefits cannot be precisely 14determined at the beginning of a year. However, the cap on total compensation (maximum 15compensation) pursuant to Section 87a (1) sentence 2 number 1 AktG (maximum 16compensation) may in total not be exceeded by these benefits.17Company pension plan18In addition, Executive Board members receive a commitment to pension benefits under the 19defined contribution pension plan offered to employees in Germany. 20For each of the Executive Board members a fixed annual value in the amount of € 90,000 and 21€ 300,000 for the Chairman of the Executive Board is contributed to the pension plan. The 22annual contribution is invested in selected investment funds. Furthermore, an additional risk 23contribution of € 10,000 is provided to cover the risk of early pension events. The sum of the 24market values of the investments forms the pension amount available to be paid as pension 25benefit in case of a pension event (age limit, invalidity or death). 26Executive Board members domiciled outside of Germany who pay taxes on their income 27outside Germany may opt for a pension allowance in lieu of the pension plan commitment; 28the allowance is equivalent to the annual contribution to the pension provision.29Performance-related component (variable compensation)30Variable compensation is performance-related and is granted as either the Short-Term Award 31or the Long-Term Award, depending on the tenure of the relevant objectives. For variable 32compensation, the objectives and performance parameters are defined at the beginning of a 33fiscal year; the extent to which the objectives are achieved determines the amount of variable 34compensation. This always ensures a close link between performance and compensation.35Short-Term Award36The Short-Term Award is used to reward the achievement of individual and divisional 37objectives of an Executive Board member. The performance criteria on which the Short-Term 38Award is based are short-term objectives for a financial year. The agreed objectives support 39DWS's business and strategic objectives and are aligned with the individual Executive Board 40members' areas of responsibility and the specific challenges associated with it.41The Short-Term Award is determined based on the objectives listed in the individual Balanced 42Scorecard as well as on up to three further individual objectives. The portion of the Short-43Term Award determined by the Balanced Scorecard accounts for 20% of the performance 44evaluation. The additional individual objectives account for an equivalent share of the Short-45Term Award. The sum of the Balanced Scorecard and the additional individual objectives 46amounts to 40% of the total reference variable compensation.47The target amounts of the Short-Term Award based on a year-round full-time employment at 48100% achievement grade are currently between € 200,000 and € 1,600,000. The maximum 49possible level of target achievement is capped uniformly at 150%.50Long-Term Award51The focus of assessment of variable compensation lies on the achievement of long-term and 52strategic objectives. The Long-Term Award, which covers the long-term strategic targets, 53uniformly comprising 60% of the total reference variable compensation.54The Long-Term Award consists mainly of the DWS Group component linked in accordance 55with the strategy of the Group to three selected performance indicators as key metrics for the 56success and growth of the business: Adjusted cost-income ratio, net flows, and 57Environmental, Social and Governance footprint. In order to address the expected volatility of 58demand for Cash products and the associated risk of unpredictability/randomness of the 59measurement of success, the target for net flows was set at the beginning of 2023 on the 60basis of net flow excluding Cash. The identification of this performance indicator for the year 612023 is therefore consistently shown in this report as net flows excluding Cash.62Each of the three aforementioned objectives is weighted at a fixed percentage of the 63reference size for the DWS Group component by the shareholders’ meeting. This reference 64size amounts to a total of 50% of the total reference variable compensation.65To our Shareholders Summarised 66Management Report67Consolidated 68Financial Statements Compensation Report Corporate Govern-69ance Statement70Supplementary 71Information DWS 2023 Annual Report72                  73Compensation Report74147 Executive Board Compensation