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Important:

db X-trackers* (*This is a synthetic ETF) is an umbrella und with a series o dierent sub-unds (each a Sub-Fund) whichare exchange-traded unds (ETFs) tracking dierent underlying indices with dierent risk proles.

Each Sub-Fund adopts a synthetic replication investment strategy by investing in swap transaction(s), which is a nancialderivative instrument, linked to an underlying index. Currently, Deutsche Bank AG (DB) is the only swap counterparty o

all Sub-Funds. Investors in a Sub-Fund are thereore subject to the counterparty and credit risk o DB.

Each Sub-Fund either puts in place a collateral arrangement where collateral securities are pledged in avour o such Sub-Fund or invests in a portolio o securities (invested assets), both with a view to ensure that the net exposure o such

Sub-Fund to DB is limited to no more than 0% o its net asset value (NAV) at the end o a trading day. The collateral

securities and invested assets generally are not constituents o the underlying index. These arrangements are subject to

risks, including ailure on the part o DB to ull its obligations under the swap or collateral arrangements, a substantial dropin market value o the invested assets or collateral securities, settlement risk, or the insolvency or deault o DB.

Insolvency or deault o DB may lead to dealing in the shares o the Sub-Funds being suspended, and the Sub-Funds maysuer signicant losses and may even be terminated.

Both the management company and the swap counterparty o the Sub-Funds belong to DB Group. Furthermore, DB actsas swap counterparty and swap calculation agent in respect o all the Sub-Funds to which the Hong Kong Prospectus

relates. DB is also the Index Sponsor or the underlying indices o some o the Sub-Funds. All o these may give rise to

potential conficts o interest.

The shares o the Sub-Funds which invests in a single country or sector are likely to be more volatile than a broad-basedund, such as a global or regional equity und, as it is more susceptible to fuctuations in value resulting rom adverse

conditions in that single country or sector.

The shares o the Sub-Funds may trade at a discount or premium to their NAV.

An investment in the shares o the Sub-Funds may directly or indirectly involve exchange rate risk.

Investment involves risks. The Sub-Funds may not be suitable or all investors. Prospective investors should careully readthe Hong Kong Prospectus or urther details on product eatures and risks, and should consider seeking independent

proessional advice in making their assessment.

Emerging market ETFs

The investment objective o certain Sub-Funds is to track the perormance o certain emerging markets and as such, theSub-Funds are subject to a greater risk o loss than investments in a developed market due to, among other actors, greater

political, economic, oreign exchange, liquidity and regulatory risks

A-Share ETFs

The investment objective o certain Sub-Funds (A Share Sub-Funds) is to track the perormance o an index comprising Ashares listed in the PRC. Each A Share Sub-Fund seeks exposure to the relevant index by entering into swap transaction(s)

with DB, which is a qualied oreign institutional investor (QFII).

Under the terms o such swap transaction(s), each A Share Sub-Fund bears the impact o PRC taxes (including capital gainstax) to the extent o the same level o tax that a hypothetical oshore investor having invested in the constituent A shareswould potentially sustain or incur. This may result in downward adjustments being made to the valuation o the swap

transaction(s) rom time to time and as a result adversely impact on the A Share Sub-Funds.

PRC tax is not currently enorced on capital gains realised by QFIIs on the sale o A Shares. There is a risk the PRC taxauthorities may seek to collect tax on capital gains without giving any prior warning, and possibly, on a retrospective basis.Any capital gains tax levied on and payable by a QFII may be passed on to the A Share Sub-Funds in the manner described

above. Having considered, amongst other things, independent tax advice, db X-trackers* (*This is a synthetic ETF) and themanagement company have determined that no provision will be made in respect o such potential tax at each A Share

Sub-Fund level. Accordingly, any retrospective enorcement may result in a substantial or signicant decline in the NetAsset Value per Share in each A Share Sub-Fund. Consequently a Shareholder may in eect suer losses arising out o

taxes in respect o capital gains sustained by a QFII during periods prior to such Shareholder acquiring its holding in the A

Share Sub-Fund and the magnitude o such losses may not correspond to such Shareholders prot or loss arising out o itsholding in the A Share Sub-Fund.

Any changes to the QFII regulation may have a detrimental impact on the ability o the A Share Sub-Fund to achieve itsinvestment objective. In the worst case scenario, this could lead to the A Share Sub-Fund being terminated.

Each A Share Sub-Fund is subject to emerging market risk as a result o tracking the perormance o the PRC market.

Each A Share Sub-Fund is also subject to concentration risk as a result o tracking the perormance o a single country (thePRC) and sector (except or db X-trackers CSI300 UCITS ETF* (*This is a synthetic ETF)). A Sub-Fund which invests in a

single country or sector is likely to be more volatile than a broad-based und, such as a global or regional equity und, as it

is more susceptible to fuctuations in value resulting rom adverse conditions in that single country or sector.

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Investors should not make investment decisions based only on this document.

db X-trackers* (*This is a synthetic ETF) may pay a dividend even where there is no net distributable income (dened asinvestment income (i.e. dividend income and interest income) minus ees and expenses) attributable to the relevant shareclass. In other words, such dividend may be treated as being paid out o the capital o a Sub-Fund.

Alternatively, db X-trackers* (*This is a synthetic ETF) may pay a dividend out o gross income while charging all or part oa Sub-Funds ees and expenses to the capital o that Sub-Fund, resulting in an increase in the distributable income or the

payment o dividends by that Sub-Fund. In other words, such dividend may be treated as being eectively paid out o the

capital o that Sub-Fund.

Payment o dividends out o capital amounts to a return or withdrawal o part o an investors original investment or romany capital gains attributable to that original investment.

Any distributions involving payment o dividends out o a Sub-Funds capital or payment o dividends eectively out o aSub-Funds capital may result in an immediate reduction o the NAV.

ETFs which offer Share Class D Distribution Shares

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Deutsche Bankdb x-trackers FTSE Vietnam UCITS ETF* (*This is a synthetic ETF)

DeutscheBankETFsSimplybuythem

arket

This document has not been reviewed by the Securities and Futures Commission o Hong Kong. This document is issued by Deutsche Bank AG acting through its Hong Kong Branch and may not be reproduced, distributed or transmitted to anyperson without express prior permission.

The distribution o this document and availability o these products and services in certain jurisdictions may be restricted by law. This document is intended or discussion purposes only and does not create any legally binding obligations on thepart o Deutsche Bank AG and/or its aliates (DB). Without limitation, this document does not constitute an oer, an invitation to oer or a recommendation to enter into any transaction. Investors should read the oering documents or urtherdetails, including the risk actors, beore investing. DB is not acting as your nancial adviser or in any other duciary capacity with respect to this proposed transaction. The transaction(s) or products(s) mentioned herein may not be appropriate or allinvestors and beore entering into any transaction you should take steps to ensure that you ully understand the transaction and have made an independent assessment o the appropriateness o the transaction in the light o your own objectives andcircumstances, including the possible risks and benets o entering into such transaction. . You should also consider seeking advice rom your own advisers in making this assessment. I you decide to enter into a transaction with DB, you do so inreliance on your own judgment. Prices o structured products can be volatile and you may suer losses. At times there may not be any counterparty or that the structured products issuer may be the only person quoting prices on the Exchange.The inormation contained in this document is based on material we believe to be reliable; however, we do not represent that it is accurate, current, complete, or error ree. Assumptions, estimates and opinions contained in this document constituteour judgment as o the date o the document and are subject to change without notice. Any projections are based on a number o assumptions as to market conditions and there can be no guarantee that any projected results will be achieved.Past perormance is not a guarantee o uture results. This material was not produced, reviewed or edited by the Research Department. Any opinions expressed herein may dier rom the opinions expressed by other DB departments including theResearch Department. Additional potential conficts o interest which the Research Department does not ace may arise. DB may engage in transactions in a manner inconsistent with the views discussed herein. DB trades or may trade as principal inthe instruments (or related derivatives), and may have proprietary positions in the instruments (or related derivatives) discussed herein. DB may make a market in the instruments (or related derivatives) discussed herein. DB SPECIFICALLY DISCLAIMSALL LIABILITY FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL OR OTHER LOSSES OR DAMAGES INCLUDING LOSS OF PROFITS INCURRED BY YOU OR ANY THIRD PARTY THAT MAY ARISE FROM ANY RELIANCE ON THIS DOCUMENT OR FORTHE RELIABILITY, ACCURACY, COMPLETENESS OR TIMELINESS THEREOF.

A complete description o each db X-trackers* ETF listed on The Stock Exchange o Hong Kong Limited is included in the latest version o the Hong Kong Prospectus issued by db X-trackers*. Copies o the Hong Kong Prospectus and the semi-annualand annual reports are available at www.dbxtrackers.com.hk and may be obtained rom the registered oce o db X-trackers*, located at 49, avenue J.F. Kennedy, L-1855 Luxembourg, R.C.S. Luxembourg B-119 899, or at the registered oce o theHong Kong Representative (RBC Investor Services Trust Hong Kong Limited) located at 51/F, Central Plaza, 18 Harbour Road, Wanchai, Hong Kong. Alternatively, prospective investors may contact Deutsche Bank AG, Hong Kong Branch, Level 52,International Commerce Centre, 1 Austin Road West Kowloon, Hong Kong SAR China (Hotline: +852 2203 6886, e-mail: ino.dbx-trackers@db.com, Bloomberg DBETF | Reuters DBETF).

Source: Bloomberg, 31 May 2013Past perormance is not a reliable indicator o uture results.

Index information Historical Performance FTSE VIETNAM Index

Source: Deutsche Bank, 31 May 2013

Sector weightings of the index

Top 10 index constituents

Source: Deutsche Bank, 31 May 2013

Vincom Jsc ORD VND 10000 15.27%

Masan Group Corp ORD VND 10000 13.72%

Petrovietnam Fertilizer and Chemical JSC ORD VND 10000 9.12%

Hoa Phat Group Jsc ORD VND 10000 8.78%

HAGL Joint Stock Co ORD VND 10000 8.38%

Joint Stock Commercial Bank or Foreign Trade o Vietnam ORD

VND 10000

7.42%

PetroVietnam Drilling and Well Services JSC ORD VND 10000 6.66%

Saigon Thuong Tin Commer.JSB 3.87%

Bao Viet Holdings ORD VND 10000 3.73%

Hoa Sen Group ORD VND 10000 3.07%

Index Type Total Return Net

Number o Index constituents 22

Countries in Index 1

Dividend Yield* 3.07%

PE Ratio* 14.59

Market Capitalisation* USD 3.28 Billion

Index Reuters RIC .TFTFVTTU

Index Bloomberg ticker TFVTTU

53.14% Financials

14.03% Industrials12.19% Basic Materials

11.25% Consumer Goods

6.66% Oil & Gas

2.73% Utilities

Registrations for public distribution

Further information on db X-trackersDeutsche Bank AG, Hong Kong BranchLevel 52, International Commerce Centre1 Austin Road West KowloonHong Kong SAR - ChinaHotline: +852 2203 6886Website: www.dbxtrackers.come-mail: ino.db-xtrackers@db.com

Hong Kong Representative:RBC Investor Services Trust HongKong Limited51/F Central Plaza18 Harbour RoadWanchai, Hong Kong

Disclaimer Deutsche Bank 2013. All inormation as o 31 May 2013.

AustriaChileDenmarkFinlandFranceGermany

Hong KongIrelandItalyLuxembourgNetherlandsNorway

SingaporeSpainSwedenSwitzerlandUnited Kingdom

Jun07 May08 May09 May10 May11 May12 May13

0

300

600

900

1,200

Points

Date

Source: Deutsche Bank, 30 April 2013

Index DisclaimerThe index sponsors o the indices reerred to herein (including Deutsche Bank AG) make no warranty or representation whatsoever either as to the results obtained rom use o the indices and/or the gures at which the said indices stand at anyparticular day or otherwise. These index sponsors shall not be liable to any person or any error in their indices and shall not be under any obligation to advise any person o any error therein.

*This is a synthetic ETF