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SEC Form 20-F - Deutsche Bank Annual Report 2012

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<strong>Deutsche</strong> <strong>Bank</strong><br />

<strong>Annual</strong> <strong>Report</strong> <strong>20</strong>10 on <strong>Form</strong> <strong>20</strong>-F<br />

Item 8: Financial Information 122<br />

one-half to balance sheet profit. We then distribute the full amount of the balance sheet profit of <strong>Deutsche</strong> <strong>Bank</strong><br />

AG if the <strong>Annual</strong> General Meeting so resolves. The <strong>Annual</strong> General Meeting may resolve a non-cash distribution<br />

instead of or in addition to a cash dividend. However, we are not legally required to distribute our balance<br />

sheet profit to our shareholders to the extent that we have issued participatory rights (Genussrechte) or granted<br />

a silent participation (stille Gesellschaft) that accord their holders the right to a portion of our distributable profit.<br />

We declare dividends by resolution of the <strong>Annual</strong> General Meeting and pay them once a year. Dividends<br />

approved at a General Meeting are payable on the first stock exchange trading day after that meeting, unless<br />

otherwise decided at that meeting. In accordance with the German Stock Corporation Act, the record date for<br />

determining which holders of our ordinary shares are entitled to the payment of dividends, if any, or other distributions<br />

whether cash, stock or property, is the date of the General Meeting at which such dividends or other<br />

distributions are declared. If we issue a new class of shares, our Articles of Association permit us to declare a<br />

different dividend entitlement for the new class of shares.<br />

Significant Changes<br />

Except as otherwise stated in this document, there have been no significant changes subsequent to December<br />

31, <strong>20</strong>10.

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