Deka Group Interim Report 2022 Deka Group at a glance BUSINESS DEVELOPMENT INDICATORS 30 Jun 2022 31 Dec 2021 Change (%) Total assets Total customer assets thereof retail customers thereof institutional customers Number of securities accounts Net sales thereof retail customers thereof institutional customers PERFORMANCE INDICATORS Total income Total expenses Economic result Total of profit or loss before tax Balance sheet based return on equity (before tax) Cost/income ratio RISK INDICATORS – NORMATIVE PERSPECTIVE Own funds (fully loaded) Risk-weighted assets Total capital ratio (fully loaded) Common Equity Tier 1 capital ratio (fully loaded) Leverage Ratio (fully loaded) MREL Ratio (risk-weighted assets based) MREL Ratio (leverage ratio exposure based) Subordinated MREL requirements (risk-weighted assets based) Subordinated MREL requirements (leverage ratio exposure based) Net Stable Funding Ratio (NSFR) Liquidity Coverage Ratio (LCR) RISK INDICATORS – ECONOMIC PERSPECTIVE Risk appetite Total risk Utilisation of risk appetite RATING LONG-TERM (SHORT-TERM) Moody‘s Standard & Poor‘s SUSTAINABILITY RATING MSCI ESG ISS ESG Sustainalytics Moody's ESG Solutions KEY EMPLOYEE FIGURES Number of employees Number of active employees 14.7 –7.2 –5.8 –8.6 2.1 5.3 4.8 7.3 69.5 3.0 183.1 173.9 20.6 %-Points –25.1 %-Points 6.0 5.1 0.2%-Points 0.5%-Points –0.2%-Points –12.9%-Points –5.5%-Points –10.9%-Points –4.6%-Points 4.1%-Points 24.2%-Points 2.5 21.0 7.8%-Points €m €m €m €m thousand 101,900 366,775 185,153 181,622 5,231 88,865 395,148 196,485 198,662 5,123 1st half 2022 1st half 2021 €m €m €m €m €m €m €m % % €m €m % % % % % % % % % €m €m % 14,269 11,583 2,686 1,573.8 602.9 970.9 914.5 34.1 39.5 13,553 11,050 2,503 928.3 585.4 342.9 333.9 13.5 64.6 30 Jun 2022 31 Dec 2021 6,439 32,526 19.8 15.8 6.1 46.8 16.2 31.5 11.8 123.0 184.4 4,100 2,095 51.1 6,075 30,944 19.6 15.2 6.2 59.7 21.7 42.4 16.4 118.9 160.3 4,000 1,731 43.3 Aa2 (P-1) A (A-1) Aa2 (P-1) A (A-1) A AA C+ (Prime) C+ (Prime) 16.9 Low Risk 17.4 Low Risk 55/100 Robust 55/100 Robust 4,964 4,281 4,854 4,243 2.3 0.9 Due to rounding, numbers and percentages presented in this report may not add up precisely to the totals provided. 2

Foreword Deka Group Interim Report 2022 Foreword Dear Shareholders and Investors, Despite the challenging environment and the major uncertainty associated with it, the Deka Group achieved an economic result that outstrips its expectations by far in the first half of 2022. At €971m, it is significantly up on the figure for the first half of 2021, also putting it ahead of the forecast for the financial year as a whole published in April. The result was driven by good business development and positive valuation effects due to market parameters. Without these valuation effects, the economic result would come to €556m. In spite of the uncertainty triggered by the war in Ukraine, savers continued to invest in the first half of the year. Net sales came to €14.3bn in the first half of 2022, driven in particular by retail customers, who contributed €11.6bn to total sales. Equity funds and certificates were particularly sought-after. The number of investment savings plans rose by almost 280,000 to a total of 7.3 million. Towards the end of the half-year point, concerns regarding rising inflation and energy prices were clearly translating into increased investment restraint. Never- theless, securities saving remains popular even in this environment and with only slightly higher interest rates, meaning that we expect to see sustained demand in the second half. Regular securities saving, in particular, remains a popular way to build capital even in volatile times. New technologies and platforms, New Work and sustainability will change the nature of competition and keep the Deka Group busy over the next few years. Deka has made progress in many areas and is increasingly being seen as an innovation driver within the Sparkassen-Finanzgruppe and in the financial sector as a whole. Deka is also extending its successful track record in terms of product quality, as is once again shown by numerous awards. 4 4

INTERIM MANAGEMENT REPORT At a glance Information about the Deka Group Economic report Forecast report Risk report 7 8 12 30 36 6

Interim management report 2022 | Information about the Deka Group Deka Group Interim Report 2022 Information about the Deka Group Deka Group profile and strategy ................................................................................................... 8 Market position and awards ....................................................................................................... 11 Deka Group profile and strategy The Deka Group is the securities service provider (the Wertpapierhaus) for the savings banks. It is made up of DekaBank and its subsidiaries. Through its asset management and banking activities, it acts as a service provider for the investment, administration and management of assets, supporting savings banks, their customers and institutional investors at every stage in the investment and advisory process within the securities business. It also offers comprehensive advice and solutions both to the savings banks and to institutional customers outside the SparkassenFinanzgruppe on investing, liquidity and risk management, and refinancing. The Deka Group sees itself as an all-round solution provider, meeting the needs of savings banks and their customers. This philosophy drives the development of its complete range of asset management and banking services to meet the securities business needs of savings banks and their customers and the targeted sales support it provides as a partner. Organisational structure The Deka Group divides its business into five business divisions that bring together similar activities. Asset management activities are handled by the Asset Management Securities and Asset Management Real Estate business divisions. The Group’s banking business is covered by the Capital Markets and Financing business divisions. The fifth business division – Asset Management Services – provides banking services for asset management. The sales units Savings Banks Sales and Institutional Customer Sales serve as the interface with sales partners and customers. The corporate centres support the business divisions and sales departments throughout the value chain. Management DekaBank is managed collectively by the Board of Management. The Board of Management takes a holistic approach, always considering the entirety of the Deka Group and the strategic direction and risks. The Board is divided into divisions, each under the responsibility of a designated member. This ensures a clear distribution of roles and core competencies in the Board of Management. At the reporting date, the Board of Management consists of six members. The responsibilities are as follows: CEO: Dr. Georg Stocker Deputy CEO & Asset Management: Dr. Matthias Danne Risk (CRO): Birgit Dietl-Benzin Finance (CFO) & Operations (COO): Daniel Kapffer Sales: Torsten Knapmeyer Banking business: Martin K. Müller 8

Interim management report 2022 | Information about the Deka Group Deka Group Interim Report 2022 Digitalisation activities at a glance (Fig.1) Sustainability As the Wertpapierhaus for the savings banks, the Deka Group is helping the SparkassenFinanzgruppe to get ready for the future. The “Target vision 2025 – Guidelines on sustainability in savings banks” (Zielbild 2025 – Leitfaden zur Nachhaltigkeit in Sparkassen) provides a roadmap for more sustainability. With a sustainable range of capital market- and real estate-based investment products and sustainable financing solutions, the Deka Group is acting as a partner for the switch to more climate-friendly and sustainable business practices during this transformation process. The Deka Group has made sustainability a cornerstone of its business model and continues to proactively drive forward on this issue in keeping with regulatory requirements. It is focusing on developing a holistic approach in line with the ESG criteria. Social criteria and the climate and environment are just as much a part of this as strengthening governance for sustainability and systematically reviewing and enhancing products and services. The Deka Group’s positioning in terms of sustainability, which Deka has been building on continuously since 2009, continues to be rated very highly by sustainability rating agencies. 10

Interim management report 2022 | Economic report Deka Group Interim Report 2022 The Structured Retail Products (SRP) finance portal presents its SRP awards each year for the European certificates market in various categories. Deka was nominated for the first time and was the winner in three categories: “Best House, Germany & Austria”, “Best Distributor Germany” and “Best Distributor Germany & Austria”. The financial services provider ProVita issued its first ever Sustainable Performance Award for sustainable investment funds and ETFs in February 2022. Deka fared very well with three top places and one second place. Sustainability funds were examined in terms of performance, SRI and sustainability criteria, based on their results as at 30 September. In the institutional customer satisfaction survey conducted by the independent Wiesbaden-based rating agency Telos, Deka achieved first place for its reporting and in the ranking of master KVGs over one- and three-year periods. In the separate ESG Company Check, the rating agency awarded Deka its highest “platinum” rating. Economic report Economic environment ............................................................................................................... 12 Business development and profit performance in the Deka Group ............................................... 17 Business development and profit performance by business division ............................................. 21 Financial position of the Deka Group .......................................................................................... 28 Human resources report ............................................................................................................. 29 Economic environment Macroeconomic conditions At the beginning of 2022, the coronavirus pandemic and the Omicron variant of COVID-19 remained a noticeable drag on the economy, with restrictions, primarily affecting the service sector, still in place. Before the easing of COVID measures at the end of the winter had time to boost the economy, Russia launched an attack on Ukraine on 24 February. The war substantially changed the macroeconomic environment. Sudden increases in commodity prices, major uncertainty among economic actors and heavy sanctions against Russia by Western industrialised nations had a significant economic impact. The resulting high inflation rates, followed by a turnaround in interest rate policy by the central banks, led to repeated downgrades in forecast global gross domestic product. This overall economic situation differed considerably from region to region. Given their geographical proximity to Ukraine and major dependence on Russian energy supplies, European economies saw an especially severe hit to their growth. Germany managed only a slight increase in gross domestic product (GDP) in the first half of the year. In the United States, macroeconomic activity even shrank slightly in nominal terms in the first two quarters. This was partly due to the lack of fiscal stimulus in contrast to the previous year’s large-scale recovery programme. It also reflected the economic impact of higher interest rates, particularly in the construction sector. In China, meanwhile, the zero-COVID strategy resulted in extensive lockdowns, for example in Shanghai and Beijing, causing a hit to production. The recovery from this did not begin until June, and the closure of the port in Shanghai once again meant disruption for global supply chains. 12

Interim management report 2022 | Economic report Deka Group Interim Report 2022 Sentiment on credit markets has also increasingly deteriorated over the course of the year. Although many large companies posted surprisingly good results for the first and in some cases also the second quarter, risk premiums on corporate bonds have risen steadily. This development picked up speed in early summer as sentiment indicators plummeted and fears of a severe recession grew. Despite the turbulence, businesses and governments are still able to raise satisfactory finance via the capital markets. While many companies have reduced borrowing somewhat – partly due to the ample liquidity obtained in the previous year and partly due to the sharp rise in interest costs – new issues are still in high demand among investors. However, new issue premiums have also risen sharply of late, including for sovereign bonds in the eurozone periphery. Partly as a result of the end to the ECB’s net purchases, these countries are now facing significantly increased risk premiums compared to the core eurozone. Global equity markets have suffered a series of problems and setbacks. They were particularly afflicted by rising inflation and the resulting concern about how major central banks would respond. The war in Ukraine has further accelerated the enormous increase in prices for energy and intermediate products. The recurring lockdown measures in China and the global supply chain disruption are also severely hitting global growth. This has caused major share indices around the world to fall since the start of the year, in some cases by more than 20%. Despite the sometimes sudden rise in costs and considerable supply problems, sales and profit growth at many businesses surprised on the upside in the first and in some cases even second quarter. Sharp falls in stock prices have caused valuation indicators, especially the P/E ratio, to fall to a significantly more moderate level. However, the concern that ongoing energy supply shortages could trigger a deep recession, especially in Europe, means that a significant downward correction in profit expectations must be feared in the second half of the year. Real estate funds continued to offer an advantageous risk/reward ratio in the low interest rate environment. Given high real estate prices and limited availability of suitable properties, however, the investment opportunities open to them remained limited. Real estate markets were barely back on the path to recovery from the demand slump triggered by the coronavirus pandemic when the invasion of Ukraine in the first quarter provided another economic shock. Business have been unsettled by the geopolitical turmoil, energy supply implications and disrupted supply chains. However, this has not yet hit demand on the markets for office space. The rise in vacancies has further slowed and rents are increasing slightly. High inflation has exacerbated pressure on retail, which is in a process of continuing structural change. The hotel sector is seeing a trend for significant recovery thanks to the increase particularly in non-business travel. The logistics market continued to benefit from the growing trend towards online shopping and increased demand for space, which was needed to safeguard supply chains. There was a significant year-on-year rise in global transaction volume in the first half of 2022. During the first three months of 2022, the financial assets of private households in Germany fell by €36.3bn to €7,588.4bn, mainly due to valuation losses on shares and units in investment funds. The proportion of listed shares and investment fund units in the total assets of private households declined from 19.4% at year-end 2021 to 18.8%. In contrast, liquid assets such as cash and demand deposits increased slightly, as in the previous year. The market performance seen in the first five months of 2022 was also reflected in the investment statistics of the German Investment Funds Association BVI. Net assets in open-ended mutual funds amounted to €1,375.7bn as at 31 May 2022 (year-end 2021: €1,471.3bn), while the net assets of open-ended special funds stood at €2,036.0bn (year-end 2021: €2,187.5bn). At €14.7bn, net inflows into open-ended mutual funds as of the end of May 2022 were significantly below the previous year’s figure (€46.8bn). Equity funds and bond funds were particularly instrumental in this decline. At €41.9bn, the sales figure for open-ended special funds for institutional investors was significantly down on the comparative figure for the previous year (€51.6bn). 14

Interim management report 2022 | Economic report Deka Group Interim Report 2022 The Fundamental Review of the Trading Book (FRTB) contains amended provisions on the calculation of market risk. At EU level, the reporting obligation for the FRTB standardised approach has already been in place since 30 September 2021, creating a relatively long parallel run with the current partial use. By 28 June 2023, the rules on internal risk transfers and reclassifications between the trading and banking book, which were already part of CRR II, must be implemented. The new regulations on the definition of the trading book, which were first contained in the draft CRR III, will apply from 1 January 2025. The new market risk capital requirements at EU level are expected to begin at the same time. Sustainability-related regulatory proposals Adopted in 2018, the EU Action Plan on Financing Sustainable Growth aims to reorient capital flows towards sustainable investment, manage financial risks stemming from climate change and foster transparency in financial and economic activity. The expectations associated with this EU Action Plan are constantly being addressed through various legal standards for the financial sector. Various regulatory initiatives in the context of sustainable reporting were relevant to DekaBank in the first half of 2022. These concerned disclosure of the taxonomy eligibility of new and existing business (in accordance with Article 8 of the EU Taxonomy Regulation) and the associated preparations for the step-by- step publication of additional quantitative and qualitative ESG information including a taxonomy conformity review and the publication of the green asset ratio starting from the 2023 reporting year. DekaBank is currently working hard to fulfil the requirements of the EBA standards implementing Article 449a CRR II, which will also increase over time. Disclosures are required starting from the 2022 reporting year. DekaBank is also working on the integration of further elements of the Task Force on Climate-related Financial Disclosures (TCFD) requirements into the sustainability report. In addition to this, DekaBank is preparing to comply with the provisions of the Corporate Sustainability Reporting Directive (CSRD) in future reporting years. Institutions covered by the Non-Financial Reporting Directive (NFRD), which include DekaBank, must adhere to these starting from the 2024 reporting year. DekaBank took part in the 2022 ECB climate stress test in the reporting period. The ECB climate stress test seeks to evaluate how well prepared SSM (Single Supervisory Mechanism) banks are to deal with the financial and economic shocks arising from climate risks. The aggregated results of the stress test were published in July 2022. A total of 104 European banks participated in the stress testing, of which 41 underwent the complete stress test. The banks’ results were divided into three categories: green (best score), yellow, orange and red (worst score). Fewer than 5% of participants received a green score, while over 35% scored yellow, a majority of over 50% were rated orange and just under 15% were in the red category. Overall, the ECB recognised the progress achieved by banks on integrating climate risk into their stress-testing frameworks and internal models. However, it concluded that further efforts to improve the management of climate risks were necessary. The results for individual institutions were not published; however, these should feed into the SREP process for the relevant banks. DekaBank is continuing in 2022 to implement the expectations of the ECB guide on climate-related and environmental risks. The guide contains 13 expectations, including on strategic aspects, governance, risk management and internal and external reporting of climate and environmental risks. To meet these expectations, Deka has produced further details of the content and timing of the action plan it initiated in 2021. In the first half of 2022, the ECB used a self-assessment process and various discussions to gather information on the current implementation status and measures planned. The supervisory authority has announced that it will publish the SSM-wide analysis of this data in October 2022. It is intended that the management and disclosure of climate and environmental risks will become part of the SREP in future. Of particular relevance from investors’ perspective is the Sustainable Finance Disclosure Regulation (SFDR). This comprises a range of sustainability-related disclosure obligations at product and entity level with the aim of improving transparency and comparability for investors regarding the sustainability of their investments. The Level 1 requirements were already fulfilled at entity level by the deadline in 2021. These include disclosures for all Deka Group companies on the integration of sustainability risks and the consideration of adverse impacts on sustainability factors in the investment decision-making process and investment advice. 16

Interim management report 2022 | Economic report Deka Group Interim Report 2022 Investors signed up to around 277 thousand (net figure) new Deka investment savings plans in the first half of 2022. Deka now manages a total of 7.3million contracts, compared with approximately 7 million at the end of 2021. The appeal of securities was also reflected in the number of DekaBank securities accounts, which came to 5.2 million (year-end 2021: 5.1 million). There was a significant positive trend in the number of transactions, which rose by around 26% as against the first half of 2021 to 63.0 million. Deka Group net sales in €m (Fig. 3) Net sales by customer segment Retail customers Institutional customers by product category Mutual funds and fund-based asset management Special funds and mandates Certificates ETFs 1st half 2022 1st half 2021 14,269 13,553 11,583 2,686 5,905 2,165 5,664 535 11,050 2,503 7,769 872 4,498 414 The Deka Group’s total customer assets of €366.8bn were slightly down on the figure for year-end 2021 (€395.1bn) due to market conditions. In particular, a positive sales performance was set against a negative investment performance. Deka Group total customer assets in €m (Fig. 4) Total customer assets by customer segment Retail customers Institutional customers by product category Mutual funds and fund-based asset management Special funds and mandates Certificates ETFs 30 Jun 2022 31 Dec 2021 Change 366,775 395,148 – 28,373 – 7.2% 185,153 181,622 181,538 150,827 23,718 10,692 196,485 198,662 195,877 161,553 24,498 13,220 – 11,333 – 17,040 – 14,339 – 10,727 – 780 – 2,528 – 5.8% – 8.6% – 7.3% – 6.6% – 3.2% – 19.1% The Common Equity Tier 1 capital ratio amounted to 15.8% as at 30 June 2022, compared with 15.2% at year-end 2021. The figure increased because Common Equity Tier 1 capital rose faster in percentage terms than risk-weighted assets (RWAs). Common Equity Tier 1 capital amounted to €5,131m (year-end 2021: €4,716m). The increase was mainly due to the inclusion of year-end effects from 2021 (profit retention). RWAs increased by 5.1% from €30,944m at year-end to €32,526m. Credit risk rose by €275m versus year- end to €21,774m, mainly due to increased receivables from funds. Market risk increased by €708m to €6,296m. This was chiefly due to market developments in the first six months of 2022. Operational risk increased slightly by €71m to €3,571m. The increase in CVA risk to €885m (year-end 2021: €358m) resulted from the higher volume of derivative transactions to be included. At 6.1%, the leverage ratio (fully loaded) at mid-year 2022 was on a level with year-end 2021 (6.2%). This was significantly above the minimum leverage ratio of 3.0%. 18 See also: Capital adequacy in the first half of 2022: page 38 ff.

Interim management report 2022 | Economic report Deka Group Interim Report 2022 Net commission income rose to €782.8m (H1 2021: €738.3m) and remained the primary sustainable income component. Commission from the investment fund business increased due to higher portfolio-related commission as a result of higher average total customer assets. Commission from banking business was up, partly thanks to higher income in the Commission Business unit and in securities management. Commission from the custody account business was slightly down overall on the equivalent figure for the previous year. Net financial income was €550.2m, significantly above the figure for the first half of 2021 (€25.0m). This figure includes all income and expense items from the trading book as well as the valuation and sale results from the banking book portfolios. At €318.0m, net financial income from the trading book was significantly higher than the prior-year value (€134.2m). A key component was income from the Trading & Structuring unit (€5.2bn compared with €3.4bn in 2021), which increased strongly year-on-year, primarily due to improved certificate sales to retail customers. The earnings contribution from the Collateral Trading & Currency unit was also up on the comparative figure for the previous year. Net financial income from the banking book rose to €232.2m (H1 2021: €– 109.3m). This increase was mainly attributable to positive net income from own issues and other own credit quality effects in Treasury due to spread developments. An amount of €115.0m was also added to the general provision for potential risks (H1 2021: €105.0m). Additions to or releases from the general provision are reflected in the economic result, but do not form part of the IFRS profit or loss and are not allocated to specific business divisions. Other operating profit was €95.7m (H1 2021: €71.8m). Actuarial gains of €105.6m on provisions for pensions were among the positive effects and resulted from the increase in the actuarial interest rate to 3.45% (year-end 2021: 1.15%). The higher actuarial interest rate was set against a decline in plan assets due to market conditions. Actuarial gains, amounting to €104.7m, were also recognised on provisions for pensions in the same period of the previous year. Actuarial effects are not included in the IFRS profit or loss as they are posted directly to equity (revaluation reserve). However, they are reported in the economic result as part of the profit or loss for the period. Personnel expenses remained almost unchanged at €282.5m (H1 2021: €285.1m). Other administrative expenses including depreciation and amortisation rose moderately year-on-year from €223.2m in the first half of 2021 to €238.4m. The increase resulted chiefly from higher consultancy expenses and higher expenditure for computer equipment and machinery as well as from depreciation of property, plant and equipment. The annual contribution to the deposit guarantee scheme of the Landesbanken and Girozentralen amounted to €21.7m (H1 2021: €18.5m). At €60.3m, the bank levy was on a par with the previous year’s figure of €61.0m. There were no restructuring expenses in the reporting period. The previous year’s figure included a net reversal of restructuring provisions in the amount of €2.4m. The cost/income ratio, i.e. the ratio of total expenses (excluding restructuring expenses) to total income (before risk provisions in the lending and securities business), was 39.5% (H1 2021: 64.6%). Balance sheet- based return on equity (before tax) stood at 34.1% (H1 2021: 13.5%) due to income-related factors. Excluding actuarial gains on pension provisions and the positive net income from own issues and other own credit quality effects in Treasury due to spread developments, the cost/income ratio came to 54.3%. The corresponding return on equity (before tax) was 19.5%. 20

Interim management report 2022 | Economic report Deka Group Interim Report 2022 Total customer assets in the Asset Management Securities business division in €m (Fig. 7) 30 Jun 2022 31 Dec 2021 Change Total customer assets by customer segment Retail customers Institutional customers by product category 290,581 320,419 – 29,838 – 9.3% 130,751 159,830 143,952 176,467 – 13,201 – 16,637 – 9.2% – 9.4% – 10.1% – 11.1% – 14.3% – 7.4% – 19.1% – 7.7% Mutual funds and fund-based asset management 140,600 156,369 – 15,770 thereof: equity funds thereof: bond funds thereof: mixed funds ETFs Special funds and mandates 52,789 24,906 22,900 10,692 139,290 59,409 29,072 24,726 13,220 150,830 – 6,620 – 4,166 – 1,825 – 2,528 – 11,540 Profit performance in the Asset Management Securities business division At €287.1m, the business division’s economic result was slightly up on the same period of the previous year (€263.1m). This was mainly attributable to increased net commission income, primarily as a result of higher portfolio-related commission due to a higher average fund volume. Expenses of €188.2m were moderately up on the previous year’s level of €176.5m. Operating expenses including project expenses saw a particular year-on-year rise. Profit performance in the Asset Management Securities business division in €m (Fig. 8) 1st half 2022 1st half 2021 Net commission income Other income Total income Administrative expenses (including depreciation and amortisation) Restructuring expense Total expenses Economic result before income distribution of Treasury-function Income distribution of Treasury function Economic result 473.8 0.8 474.6 188.2 0.0 188.2 286.4 0.7 287.1 450.7 – 8.5 442.1 175.7 0.8 176.5 265.7 – 2.5 263.1 Change 23.1 9.3 32.5 12.5 – 0.8 11.7 20.7 3.2 24.0 5.1% 109.1% 7.3% 7.1% – 94.6% 6.6% 7.8% 128.2% 9.1% Business development and profit performance in the Asset Management Real Estate business division At €79.8m, the economic result in the Asset Management Real Estate business division fell slightly short of the figure for the first half of 2021 (€81.7m). Net sales came to €1.8bn (H1 2021: €1.9bn). With continued sound investment performance, total customer assets stood at €52.5bn, compared with €50.2bn at the end of 2021. Net sales and total customer assets Given the caution of institutional investors, net sales at €1.8bn were unable to quite match the previous year’s €1.9bn. As in previous years, the tried-and-tested quota system for sales to retail customers was maintained. This allows the inflow of funds into the products to be managed efficiently, even in the face of high demand, and the funds’ liquidity resources to be limited. This also helps to prevent excessive investment pressure arising in view of the continuing high real estate prices. 22

Interim management report 2022 | Economic report Deka Group Interim Report 2022 Profit performance in the Asset Management Real Estate business division The economic result in the Asset Management Real Estate business division stood at €79.8m in the first half of 2022 compared with €81.7m in the prior-year period. The rise in income was attributable to higher net commission income from a year-on-year increase in portfolio-related commission. Expenses were up slightly in a year-on-year comparison. This was chiefly due to a sharp rise in other administrative expenses, particularly from catch-up effects after the easing of COVID rules along with increased consultancy expenses. Profit performance in the Asset Management Real Estate business division in €m (Fig. 11) Change – 0.5 10.3 – 0.4 – 6.1 3.3 4.6 4.6 – 1.3 – 0.6 – 1.9 – 160.7% 6.9% – 49.8% – 252.0% 2.1% 6.5% 6.5% – 1.6% – 252.5% – 2.4% Net interest income Net commission income Net financial income Other operating profit Total income Administrative expenses (including depreciation and amortisation) Total expenses Economic result before income distribution of Treasury-function Income distribution of Treasury function Economic result 1st half 2022 1st half 2021 – 0.2 160.7 0.4 – 3.7 157.2 76.6 76.6 80.6 – 0.8 79.8 0.3 150.4 0.7 2.4 153.9 71.9 71.9 82.0 – 0.2 81.7 Business development and profit performance in the Asset Management Services business division The economic result as at the end of the first six months of 2022 stood at €16.7m (H1 2021: €2.7m). The number of securities accounts in Digital Multichannel Management came to 5.2 million at the halfway point of the year. Assets under custody fell to €163.8bn due to market conditions. Assets under custody in the Depositary subdivision also saw a market-induced decline of around 6% versus the end of 2021. Business development in the Asset Management Services business division Market developments in the first half of 2022 caused assets under custody in Digital Multichannel Management to fall to €163.8bn (year-end 2021: €174.5bn). The number of securities accounts for which the division is the legal provider stood at 5.2 million at mid-year (year-end 2021: 5.1 million). The number of securities transactions was up strongly at 63.0 million (H1 2021: 50.1 million), mainly due to the continued high sales figures for savings agreements. S Broker, the Deka Group’s online broker, manages around 191 thousand custody accounts with an investment volume of €11.9bn. The robo-advisory service provided by bevestor GmbH has now been integrated into the sales of virtually all savings banks as part of a cooperation model. bevestor has currently arranged an investment volume of around €180m and manages around 28 thousand customer custody accounts. Assets under custody fell in line with the development in asset management to €254.5bn (year-end 2021: €270.3bn). This was primarily due to negative market developments in the year to date. 24

Interim management report 2022 | Economic report Deka Group Interim Report 2022 Profit performance in the Capital Markets business division At €275.4m, the division’s economic result in the reporting period was significantly up on the comparative figure for the previous year (€75.0m). Net financial income more than doubled year-on-year, mainly due to very good certificates business combined with active risk management. At €81.5m, expenses were slightly below the equivalent figure for the previous year. Profit performance in the Capital Markets business division in €m (Fig. 13) Change – 0.8 – 0.2 184.3 0.1 183.4 – 6.8 – 6.8 190.2 10.1 200.4 – 36.8% – 0.8% 136.9% 10.4% 109.9% – 7.7% – 7.7% 242.2% 290.2% 267.0% Net interest income Net commission income Net financial income Other operating profit Total income Administrative expenses (including depreciation and amortisation) Total expenses Economic result before income distribution of Treasury-function Income distribution of Treasury function Economic result 1st half 2022 1st half 2021 1.4 28.7 318.9 1.2 350.2 81.5 81.5 268.8 6.6 275.4 2.2 28.9 134.6 1.1 166.8 88.3 88.3 78.5 – 3.5 75.0 Business development and profit performance in the Financing business division The Financing business division generated an economic result of €142.6m in the first half of 2022 (H1 2021: €50.3m). Gross loan volume in the division posted a rise of 4.1% versus year-end 2021 to €26.7bn at the mid-point of the year. Business development in the Financing business division The gross loan volume in the Specialised Financing subdivision was virtually unchanged from year-end 2021 at €14.4bn. Infrastructure financing accounted for €3.9bn (year-end 2021: €4.1bn), of which €1.5bn pertained to renewable energy. Export financing stood at €1.3bn (year-end 2021: €1.4bn), transport financing at €3.9bn (year-end 2021: €3.7bn) and public sector financing at €3.6bn (year-end 2021: €3.5bn). Transport financing comprised aircraft financing of €2.4bn (year-end 2021: €2.4bn), ship financing of €1.4bn (year-end 2021: €1.3bn) and railway financing of €0.1bn (year-end 2021: none). Gross loan volume for savings bank financing fell from €1.8bn at year-end to €1.7bn. Gross loan volume in the Real Estate Financing subdivision increased moderately during the first half of 2022 to €12.3bn (year-end 2021: €11.3bn). The volume of commercial property loans rose to €9.2bn (year- end 2021: €8.6bn). In relation to the gross loan volume in the Real Estate Financing subdivision, around 7% was attributable to the retail use type, compared with 8% at the end of 2021, and around 3% to the hotel use type (year-end 2021: 4%). Financing volume in open-ended real estate funds increased to €3.2bn (year- end 2021: €2.7bn). 26

Interim management report 2022 | Economic report Deka Group Interim Report 2022 Financial position of the Deka Group Changes in the Deka Group balance sheet The Deka Group’s total assets increased by 14.7% as against the end of 2021 to €101.9bn (year-end 2021: €88.9bn). This was mainly due to a customer-driven increase in financial transactions, current account deposits and repo transactions on the liabilities side. The amount due from banks and customers rose during the reporting period by a total of €11.5bn to €55.9bn due to newly concluded reverse repo transactions and equated to around half of total assets (55%). Financial assets reported at fair value declined by €0.2bn to €17.9bn. Financial investments of €9.8bn were slightly up on the end of the previous year. Amounts due to banks and customers rose significantly by €8.3bn in total to €48.8bn, and thus also accounted for around half of total assets (48%). This change resulted mainly from increased financial transactions and from higher current account deposits driven by customer-induced deposits by investment funds. There were also increased repo transactions with banks in the first half of 2022. Meanwhile, there was a moderate drop of €0.6bn in securitised liabilities to €8.9bn due to maturities in the reporting period. Financial liabilities at fair value rose significantly to €33.8bn (year-end 2021: €29.2bn) due to market-driven increases in the value of interest rate and equity derivatives used for hedging purposes. These were caused by interest rate developments and the lower stock market prices in the first half of 2022. Of financial liabilities at fair value, trading issues accounted for €20.8bn (year-end 2021: €22.2bn). Changes in the Deka Group balance sheet in €m (Fig. 15) Total assets Selected asset items Due from banks and customers Financial assets at fair value Financial investments Selected liability items Due to banks and customers Securitised liabilities Financial liabilities at fair value 30 Jun 2022 31 Dec 2021 101,900 88,865 55,883 17,928 9,754 48,811 8,922 33,761 44,378 17,738 9,291 40,485 9,543 29,194 Change 13,035 11,504 190 463 8,326 – 621 4,566 14.7% 25.9% 1.1% 5.0% 20.6% – 6.5% 15.6% Capital and liquidity adequacy Full details of capital and liquidity adequacy in the first half of 2022 are provided in the risk report section of the Interim management report. See also: Risk report: page 36 ff. 28

Interim management report 2022 | Forecast report Deka Group Interim Report 2022 Forecast report Forward-looking statements ....................................................................................................... 30 Expected economic trends .......................................................................................................... 30 Expected business development and profit performance ............................................................. 32 Expected financial and risk position ............................................................................................ 35 Forward-looking statements The Deka Group’s planning is based on the assumptions about future economic development that appear the most probable from a current standpoint. However, plans and statements about expected developments and the course of business in the second half of 2022 are subject to uncertainty. Actual trends in the international money, capital and property markets and in the Deka Group may diverge significantly from our assumptions, which are partly based on expert estimates. The Deka Group’s risk position is explained in full in the risk report. If the risk scenarios referred to in the risk report should materialise, for example as a result of stress situations or counterparty default, this may result in negative differences from the forecast during the remaining months of the 2022 financial year. Conversely, opportunities may result in expectations being exceeded. The Deka Group’s opportunities are presented in the opportunities report in the Annual Report 2021; there have been no significant changes as of mid-year 2022. The global consequences of the war between Russia and Ukraine, including possible secondary and tertiary effects, are incalculable as of mid-2022. If the war in Ukraine is protracted or worsens further, this may be reflected in lasting damage to growth and capital markets. The economic impacts of the ongoing coronavirus pandemic cannot be conclusively measured either. At least in the short term, there still remains a possibility of further setbacks in tackling the pandemic. These may be caused by an insufficient vaccination rate or the spread of mutated variants. Estimates of the development of growth and inflation are therefore subject to change, which could have implications for the extent of the turnaround in central bank interest rate policy and for yield levels in bond markets. Overall, there thus remains a high degree of uncertainty regarding future market developments. It is impossible to rule out a scenario in which the earnings, risk and capital situation, as well as the corresponding key management indicators, show less favourable development than that presented in the forecast report. Expected economic trends Expected macroeconomic trends The global economy is suffering under a range of economic pressures. Global gross domestic product is expected to grow by only 2.7% year-on-year from January to December 2022. This is only slightly above the definition of a global recession. In the second half of the year, demand-side effects – i.e. those influencing corporate investment decisions and household spending – will come to the fore. While fiscal policy will seek to cushion the loss in purchasing power to some extent and wages will grow at above-average pace, this will not be enough to prevent subdued consumer confidence and spending restraint, particularly in light of the very sharp rises in energy prices. Businesses, especially in Germany and Europe, continue to face supply shortages and transport problems but must also live with consumer uncertainty and factor in increased borrowing costs due to higher interest rates. Particularly in Germany, concerns about the gas supply in the winter months are hanging over the business outlook for manufacturing companies. 30

Interim management report 2022 | Forecast report Deka Group Interim Report 2022 markets in the eurozone periphery. However, the ECB’s options in this regard are likely to be rather limited, and other parts of the financial system are also seeing growing risk aversion. On the credit markets, there is concern about an economic slump in the coming winter, although this has presumably largely been priced into risk premiums by now. A severe recession would, however, drive spreads significantly wider still, as rating agencies would then feel compelled to implement noticeable downgrades. For now, companies and European governments remain well able to raise finance on the markets. One hindrance, however, could be the increasing funding being provided for the EU Recovery Plan, which is likely to accelerate somewhat in the second half of the year. As the ECB’s substantial support has come to an end here too, investors might in future also demand somewhat higher risk premiums for sub-governments and supranational agencies. Substantial uncertainty, major growth concerns and very high volatility are likely to continue to prevail on global stock markets in the second half of the year. The economic outlook is gloomy, and in Europe, especially Germany, there is a risk of industry being severely impaired by a stop to Russian gas deliveries, which would likely lead to a severe recession. Further steep falls on the stock markets must be anticipated in such a scenario. Provided that remaining deliveries and alternative sources are able to avert the worst, however, opportunities will also emerge again. After all, stock market valuations have seen significant downward movement in recent weeks and months. The current valuations thus limit the potential for further downward corrections and also offer a very good basis for stocks to rally again when a more stable economic environment returns. The US economy has weakened in recent months. Markets are being hit by a combination of high inflationary pressure and loss of consumer purchasing power, a tight labour market and more restrictive monetary policy. The stock market correction has cut valuations of US shares. However, the recessionary risks have recently risen with the US Federal Reserve demonstrating, through its accelerated rate hikes, that it is willing if necessary to trigger a recession in order to curb inflation. Another economic downturn would be a major burden on corporate profits. It will take months for the macroeconomic outlook to become clearer, and DekaBank therefore expects that market uncertainty and volatility will remain at a highly elevated level. Real estate asset management remains an appealing asset class. However, investment opportunities for real estate funds remain limited, meaning that restraint is still called for when attracting new inflows. The construction cycle in the US office market is likely to reach its peak in 2022 before tailing off in light of sharply increased construction and financing costs. Rental growth is likely to gain breadth and momentum as the year progresses, mainly as a result of the inflation trend. This will also be the case for markets in Asia and the United States. With interest rates rising, increases in initial yields are expected not only for office buildings but also for retail, hotel and logistics properties. However, we do not expect a major reduction in prices. As real interest rates remain in negative territory even over the long term, real estate is set to remain an attractive asset class. Expected business development and profit performance The Management Agenda continues to set the strategic and operational direction to make the Deka Group a customer-focused, innovative and sustainable Wertpapierhaus. This agenda remains focused on the broad themes of digitalisation and sustainability. The war between Russia and Ukraine is leading to geopolitical tensions beyond the two countries themselves. The impact of these, including potential secondary and tertiary effects, is not currently foreseeable. In addition, the continuing global COVID-19 pandemic and its impacts on economies, growth and capital markets may also have future effects on the Deka Group that are not yet possible to reliably predict in 2022. There may also be implications for the extent of the turnaround in central bank interest rate policy and for yield levels in bond markets. There thus remains a high degree of uncertainty regarding future market developments. 32

Interim management report 2022 | Forecast report Deka Group Interim Report 2022 subdivision will continue with its existing strategic direction. This means pushing ahead further with the expansion of the multichannel offering, which involves the integration of physical branches and other sales channels for the securities products offered by the savings banks. The bevestor GmbH robo-advisory product (digital asset management) will support this strategy with contemporary, innovative services. The Depositary subdivision will continue to work on expanding its depositary function through growth in the Deka Group investment companies’ mutual funds and new third-party mandates, focusing on developing a comprehensive asset servicing solution (master KVG and depositary). The aim is to enhance its market position in Germany. Custody of digital securities and other digital assets will be implemented in the Depositary subdivision as part of the digitalisation strategy. Risks to Digital Multichannel Management arise principally from a delayed implementation of the multichannel strategy due to an insufficiently developed multichannel offering. Risks may arise for custody account business from disruption to product development with a knock-on effect on custody account sales. Risks to business performance in the Depositary subdivision continue to include rising pressure on margins as well as market-induced outflows of assets under custody. The consequences of the war between Russia and Ukraine could also trigger a pronounced correction on stock markets, negatively impacting assets under custody and thus the income achievable in this subdivision. The Capital Markets business division will maintain its proven strategic direction as a customer-centric product and solution provider. It intends to maintain its position as an infrastructure provider with international capital market access through systematic digitalisation and further development of the existing platform solutions. In the certificates business, retail products will remain the focus. Risks to the performance of the Capital Markets business division arise particularly from negative capital market trends and recessionary fears due to exogenous shocks such as the war between Russia and Ukraine, the coronavirus pandemic or trade disputes that result in reduced customer activity. Additional risks arise from regulatory intervention in the design of products and definition of terms and conditions and further increased market pressure on fees. Regulatory or adverse monetary policy escalations leading to additional capital backing or reporting obligations may also affect business performance. For its business activities in the second half of 2022, the Financing business division will continue to concentrate on its defined and well-established segments: specialised financing and real estate financing in liquid markets. Being a sought-after financing partner for the savings banks will remain its main aim. The division will continue seeking to generate new business where this contributes to its objectives and to appropriate management of the balance sheet structure. It will maintain its stability-focused and risk- conscious strategy. There are risks to the Financing business division from possible consequences of the ongoing war between Russia and Ukraine as well as from continuing repercussions of the coronavirus pandemic on the quality of loan exposures. Further risks may arise from specific creditworthiness risks on the part of borrowers and from further political crises, which could adversely affect the economic outlook for lending segments in which we operate. This could also lead to a need for higher loan loss provisions, or to increased capital adequacy requirements as a result of rating downgrades. Business performance may be negatively affected by increasing competitive pressure for project and infrastructure financing due to institutional investors acting as direct lenders. 34

Interim management report 2022 | Risk report Deka Group Interim Report 2022 Risk report Risk policy and strategy .............................................................................................................. 36 Capital adequacy in the first half of 2022 ................................................................................... 38 Liquidity adequacy in the first half of 2022 ................................................................................. 42 Individual risk types .................................................................................................................... 44 Risk policy and strategy The basic principles underlying the Deka Group’s risk policy remain largely unchanged from those described in the Group management report for 2021. In order to achieve its commercial objectives, the Deka Group accepts certain risks in line with strategic requirements. These risks are limited by a comprehensive risk management system that covers all types of risk and all business divisions, sales units and corporate centres in order to ensure the success of the Deka Group as a business. The framework for business and risk management is provided by the general concept of risk appetite (Risk Appetite Framework – RAF), which forms the main basis for assessing the adequacy of internal capital and liquidity (Internal Capital Adequacy Assessment Process (ICAAP)/Internal Liquidity Adequacy Assessment Process (ILAAP)) and is an integral part of the Deka Group’s strategy system. A strong risk culture for the Deka Group is key to the lasting achievement of the business policy objectives set out in the business strategy. Two further indicators were added to the internal processes for managing and monitoring liquidity in the first half of 2022. The EBA Guidelines on recovery plan indicators published in 2021 require the recovery plan to use an indicator for available, central bank-eligible, unencumbered assets. As part of the implementation of this requirement, additional thresholds, monitored daily, were therefore added for available, central bank-eligible, unencumbered assets, and the liquidity emergency plan was enhanced in line with this. To limit the risks from unstable sources of funding, thresholds were introduced for the issue of commercial papers, setting the maximum volume of debt due within each maturity band. The correlation assumptions between industries and segments used in the credit portfolio model were adjusted at the end of May 2022 as part of the regular update process, and the representativeness of the crisis correlation estimate was improved through a stronger inclusion of crisis phases. The updated correlation assumptions resulted in a significant increase in economic counterparty risk (CVaR). The revised model for quantifying business risk went live for the Capital Markets and Financing business divisions at the end of February. At its core, the revised model switches the relevant planned figure to the planned annual earnings contribution included in internal capital, thereby bringing this into alignment with the other business divisions. This contribution is based on the economic result expected for the next 12 months but with a focus on earnings components that are sustainably achievable. Under the revised model, the business risk in these two business divisions is immaterial. It is therefore not explicitly included in risk- bearing capacity at present. 36

Interim management report 2022 | Risk report Deka Group Interim Report 2022 In the wake of the ECB guide to internal models published back in November 2018, more supervisory reviews of internal models under Pillar I of the Basel Accord (Targeted Review of Internal Models, TRIM) were conducted. The reviews aimed to reduce the variability of model results and thereby increase confidence in internal models. They affected the internal rating models for credit risk (IRBA), internal market risk models (IMA) and internal models for estimating exposure to counterparty risk (IMM). With regard to the IRB approach, suitable measures to fulfil the requirements were initiated based on the findings of the 2019 on- site audit in the fund rating module as part of the TRIM, which were all reported as completed in the first half of 2022. An on-site audit of the market risk model as part of the TRIM was conducted back in 2017, and all measures to fulfil the requirements were implemented in 2020. TRIM audits concerning counterparty risk did not affect DekaBank. In addition, as part of the implementation of the EBA Guidelines on PD estimation, LGD estimation and treatment of defaulted assets, further IRB reviews have been carried out since last year for a total of six modules in connection with the corresponding model change notifications. In the coming year, it is anticipated that more of these reviews will be conducted until all IRB rating modules have been reviewed by the supervisory authority. The potential economic impact of changes to the Credit Risk Standardised Approach (CRSA) and the Internal Ratings Based Approach (IRBA) that are currently planned as part of the finalisation of Basel III (Basel IV) continues to be monitored. The same applies to the Fundamental Review of the Trading Book (FRTB). The measures necessary to meet the requirements of the new FRTB standardised approach have already been implemented and the first prescribed report submitted to the supervisory authority. The planned introduction of the Standardised Measurement Approach (SMA) for calculating operational risk capital, which could also affect Pillar II of the Basel framework under certain circumstances, is also being monitored. The expected effects for Basel IV have been taken into account in normative capital planning. Capital adequacy in the first half of 2022 See also: Economic report: page 12 ff. The rise in inflation that began in 2021 continued unexpectedly strongly in the early months of this year. While the after-effects of the pandemic were an important factor at the beginning of the year, the outbreak of the war in Ukraine further exacerbated inflationary pressure. This put central banks under pressure to rapidly adjust their highly expansionary monetary policy. Whereas the US Federal Reserve began to lift its key interest rate in as early as March and also announced a gradual reduction in the securities holdings it had accumulated over recent years, the ECB’s normalisation of monetary policy in the first half of the year consisted in large part of tapering its net asset purchases more quickly than originally announced. At the same time, it very clearly signalled its intention to gradually lift key rates starting from the summer. These events hit the markets doubly hard, as similar market reactions were triggered by both the exit plans of the central banks and the Ukraine war. Interest rates and credit spreads subsequently rose very sharply, while share prices fell significantly. The euro further depreciated against the US dollar due to the continued difference in the pace of monetary policy tightening by the Fed and ECB. Further interest rate adjustments by the Fed in the second quarter reduced long-term inflation expectations again, causing the sharp rise in yields to pull back somewhat. This also applied to the yields on European sovereign bonds, even though the ECB was very late to announce even a slow-paced interest rate turnaround. 38

Interim management report 2022 | Risk report Deka Group Interim Report 2022 Over the same period, risk capacity fell to €5,077m (year-end 2021: €5,308m). This decline was driven primarily by a significant increase in the deduction for net unrealised gains and losses on securities in the banking book. There were positive effects particularly from the profit performance in the first half of the year and a lower deduction for risks resulting from pension obligations. The utilisation of risk capacity was up noticeably as against the end of 2021 (32.6%) to 41.3%, although it remains at an uncritical level. Utilisation of allocated risk capital was uncritical both at Deka Group level and in all business divisions. The risk appetite of €4,100m (increase from €4,000m at the end of 2021) was 51.1% utilised as of 30 June 2022 (year-end 2021: 43.3%). Normative perspective (current situation) Capital adequacy is determined in accordance with the CRR. Alongside counterparty risk, market risk and operational risk, the credit valuation adjustment (CVA) risk is also taken into account. The Deka Group’s regulatory own funds as of 30 June 2022 stood at €6,439m (31 December 2021: €6,075m). The 8.8% increase in Common Equity Tier 1 capital to €5,131m was mainly due to the inclusion of year-end effects from 2021 (profit retention). The Additional Tier 1 (AT1) capital was unchanged versus the year-end after the issue of new AT1 capital in 2021 and stood at €599m. Tier 2 capital amounted to €709m (year-end 2021: €761m) at the reporting date. The decline was primarily due to the reduced eligibility of Tier 2 capital instruments under the CRR in the last five years before maturity. RWAs increased by €1,582 m from €30,944m at year-end to €32,526m. Credit risk rose by €275m versus year-end to €21,774m, mainly due to increased receivables from funds. Market risk increased by €708m to €6,296m. This was chiefly due to market developments in the first six months of 2022. Operational risk increased slightly by €71m to €3,571m. The increase in CVA risk to €885m (year-end 2021: €358m) resulted from the higher volume of derivative transactions to be included. As of 30 June 2022, the Common Equity Tier 1 capital ratio stood at 15.8% (year-end 2021: 15.2%). The Tier 1 capital ratio as of the reporting date was 17.6% (year-end 2021: 17.2%). The total capital ratio rose from 19.6% as of 31 December 2021 to 19.8% at the reporting date. Taking account of the requirements of the SREP (Supervisory Review and Evaluation Process), DekaBank had to comply at Group level with a Common Equity Tier 1 capital ratio of at least 8.16% as at 30 June 2022. This capital requirement is made up of the Pillar 1 minimum requirement (4.50%) plus the Pillar 2 requirement (P2R) of 1.5%, reduced to 1.125% for the Tier 1 capital ratio, taking into account partial coverage of P2R by Tier 2 capital, and 0.844% for the Common Equity Tier 1 capital ratio, taking into account additional partial coverage of P2R by AT1 capital, the capital conservation buffer (2.5%), the countercyclical capital buffer (0.066% as at the end of June 2022) and the capital buffer for other systemically important banks (0.25%). The capital requirement for the Tier 1 capital ratio was 9.94%. For the total capital ratio, it was 12.32%. These requirements were clearly exceeded at all times. 40

Interim management report 2022 | Risk report Deka Group Interim Report 2022 Macroeconomic stress tests The in-depth analysis of the results of the regular macroeconomic standard stress scenarios in both perspectives also takes into account the probability of occurrence and lead time of the scenarios, calculated each quarter, as well as the possible mitigation measures available if necessary. Under this approach, the internal thresholds were complied with at all times during the reporting period and at the reporting date in all the scenarios examined, and no immediate action was required in relation to capital adequacy. The implications for the Deka Group of the escalating conflict between Russia and Ukraine were also closely followed. With the outbreak of the war, the need to calculate a specific ad hoc scenario was identified. Since then, this scenario has been continuously adjusted to the changing circumstances and the impact on capital adequacy assessed. Even in the comparison with non-stress-oriented thresholds, no threat to capital adequacy was identified. There is therefore no immediate need for action; however, developments are being closely monitored. Liquidity adequacy in the first half of 2022 The refinancing markets were heavily affected in the first half of 2022 by Russia’s war against Ukraine and the associated rises in inflation and interest rates. Refinancing markets were tense and volatile at the onset of war, as was evident among other things in the market-wide increase in liquidity spreads. Following a trend towards normalisation, spread movement at the end of reporting period was sideways. DekaBank had access to ample liquidity on the money market. The higher interest rates boosted the attraction for investors of interest rate products with longer maturities. DekaBank also benefited from the flight-to-quality effect. The Deka Group continued to have ample liquidity, measured using the liquidity balances and LCR, throughout the first half of 2022. There were no breaches of the internal limits and emergency triggers or the external minimum LCR and NSFR at any time. Economic perspective There were clear positive liquidity balances in all relevant maturity bands of the “combined stress scenario” funding matrix for periods of up to 20 years. This was also the case for the alternative stress scenarios. Limits and emergency triggers were complied with throughout the reporting period. As at 30 June 2022, the accumulated liquidity balance of the Deka Group’s “combined stress scenario” funding matrix in the short-term range (up to one week) stood at €6.0bn (year-end 2021: €9.4bn). In the maturity band of up to one month, the liquidity surplus totalled €5.4bn (year-end 2021: €9.2bn), and in the medium-term range (three months) it amounted to €10.7bn (year-end 2021: €6.2bn). In relation to the net cash flows of approximately €1.5bn on day 1, the Deka Group has a high liquidity potential (around €5.3bn) that is readily convertible at short notice. The Group has access to a large portfolio of liquid securities which are eligible as collateral for central bank borrowings, as well as to available surplus cover in the cover pool and corresponding repo transactions. The strict requirements concerning the liquidity potential ensure that the securities used for this purpose can generate liquidity even in a stressed market environment. 42

Interim management report 2022 | Risk report Deka Group Interim Report 2022 Individual risk types Counterparty risk Current risk situation The counterparty risk determined on the basis of the credit value at risk (CVaR), with a confidence level of 99.9% and a holding period of one year, increased significantly in the first half of 2022 to €985m (year-end 2021: €819m). Risk capital allocated to counterparty risk stood at €1,550m (year-end 2021: €1,595m) and was 63.6% utilised (year-end 2021: 51.3%). The level of utilisation therefore remained uncritical. The development of counterparty risk was largely attributable to the updating of correlation assumptions in the CVaR calculation. On top of this, there was a rise in migration risks particularly in the second quarter. The risk position of the cluster portfolio was assessed using an expected shortfall redistribution. Similar to the overall portfolio, there was a significant increase in absolute terms compared with the end of 2021 to €122m (year-end 2021: €96m). The relative share of the cluster portfolio in the overall portfolio remained unchanged at 12%. The risk concentration remained in line with the Deka Group’s credit risk strategy. Gross loan volume increased moderately by 4.7% as against the end of 2021 (€123.9bn) to €129.7bn. The other financial institutions, savings banks, commercial banks and state-affiliated and supranational institutions risk segments saw an increase of more than €1bn versus the end of 2021. In the case of other financial institutions, the increase in gross loan volume was mainly due to higher repo volumes. In the state- affiliated and supranational institutions risk segment, there was an increase in repo volumes and deposits with Deutsche Bundesbank. The increase in the savings banks risk segment was mainly due to money market transactions. A higher volume of securities was taken in from commercial banks. The public sector and insurance companies risk segments saw a reduction of more than €1bn compared with the end of 2021. In the public sector risk segment, this was due to a lower bond volume and to changes in the value of derivative hedging instruments. In the case of insurance companies, there was a reduction in the repo lending volume. The lending business volume (especially in the real estate sector risk segment) was above the figure for year- end 2021. The ship portfolio’s share of gross loan volume rose slightly to 1.1% (year-end 2021: 1.0%). The aircraft portfolio had a share of 2.0% (year-end 2021: 2.2%). In connection with the COVID-19 pandemic, the transport sector loan portfolio in particular continues to be closely followed and monitored on an ongoing basis. Gross loan volume in €m (Fig. 20) Commercial banks Other financial institutions Savings banks Insurance companies Industrial sector Service sector Public sector State-affiliated and supranational institutions Transport sector Renewable energies Conventional energies and infrastructure Real estate sector (including real estate funds) Retail sector Funds (transactions and units) Total 44 30 Jun 2022 31 Dec 2021 18,827 30,161 8,190 843 5,053 2,340 8,063 20,537 4,200 1,399 4,764 12,485 97 12,739 129,698 16,834 26,114 5,957 1,881 5,671 2,837 10,193 19,395 4,364 1,497 5,055 11,531 124 12,460 123,913

Interim management report 2022 | Risk report Deka Group Interim Report 2022 The gross loan volume relating to borrowers in Spain and Italy fell to €3.0bn, from €3.3bn at the end of 2021. Due to the collateralisation provided by repo/lending transactions, the collateralisation provided for the bond portfolio using protection buyer CDS and the collateralisation of loans, the net loan volume attributable to borrowers in Italy and Spain came to only around 32% of gross loan volume. The percentage of gross loan volume for counterparties in China totalled 0.4%. The gross loan volume for counterparties in Russia came to €53m. Due to the securing of loans through ECA guarantees for energy supply financing, the net loan volume attributable to Russia was significantly lower than the gross loan volume at around €3m. There was still no gross loan volume attributable to counterparties in Ukraine or Belarus at the end of the first half of 2022 and no country limit. Gross loan volume by regional concentration in €m (Fig. 23) Germany Luxembourg United Kingdom France Belgium Spain Netherlands Italy Other Total Percentage of Gross loan volume 30 Jun 2022 69,844 13,255 8,570 7,057 4,799 2,489 1,487 481 21,717 129,698 53.9% 10.2% 6.6% 5.4% 3.7% 1.9% 1.1% 0.4% 16.7% 100.0% The gross loan volume remained focused primarily on the short-term segment. The proportion of transactions with a time to maturity of less than one year was 44.3% at mid-year 2022 (year-end 2021: 40.2%). The proportion of maturities of ten years or longer was 4.9%, compared with 6.2% at 31 December 2021. Overall, the average legal residual maturity of gross lending was down to 2.9 years (year-end 2021: 3.3 years), mainly due to a higher volume of repos, which tend to have shorter maturities. The level of risk concentration in the loan portfolio fell slightly during the first half of 2022. As at 30 June, 15.1% (year-end 2021: 15.8%) of total gross loan volume was attributable to borrower units with a gross limit of at least €2.5bn or an overall net limit of at least €1.0bn (counterparty clusters). The number of counterparty clusters increased as against the end of 2021 by 1 to 24. Of the gross loan volume attributable to the cluster portfolio, 24.4% related to public sector counterparties, savings banks, and state-affiliated and supranational institutions. A total of 12.5% of net loan volume related to counterparty clusters (year-end 2021: 14.4%). As was already the case at the end of 2021, shadow banking entities under the principal approach (limit utilisation of total net risk position: 16%) accounted for less than 1% of the net loan volume as at the 30 June 2022 reporting date. For shadow banking entities under the fallback approach, this share was 0%. The utilisation figures are considered acceptable, especially given that the shadow banking entities have an average rating of “5” on the DSGV master scale. The average rating for the gross loan volume improved over the reporting period by one notch to a rating of 3 on the DSGV master scale. The average probability of default dropped to 20 bps (year-end 2021: 24 bps), which was due, among other things, to improved credit ratings for various counterparties in the aviation segment and the improved rating of the Republic of Angola for two ECA-backed export loans. The average rating for the net loan volume remained stable at “A–” with a virtually unchanged average probability of default of 9 bps (year-end 2021: 10 bps). 46

Interim management report 2022 | Risk report Deka Group Interim Report 2022 Deka Group value-at-risk excluding guarantee products1) (confidence level 99%, holding period ten days) in €m (Fig. 25) 30 Jun 2022 Asset Manage- ment Securities business division Asset Manage- ment Real Estate business division Asset Manage- ment Services business division Capital Markets business division Deka Group excluding guarantees Change in risk vs 31 Dec 2021 Treasury 2.9 0.1 3.0 0.3 0.2 2.9 0.0 0.0 0.0 0.2 0.0 0.2 7.8 7.3 4.9 0.4 0.1 7.8 15.5 50.9 63.8 30.2% 6.5 14.1 9.9 0.8 17.5 15.7 47.2 11.2 11.4 48.1 21.7 59.7 16.7 12.1 61.9 100.9% 19.9% 57.5% 12.0% 25.8% Category Interest rate risk Interest rate (general) Credit spread risk Share price risk Currency risk Total risk 1) Risk ratios for interest rate risk and total risk, taking account of diversification. Includes issue‐specific credit spread risk. The change in interest rate risk was associated in particular with the development of interest rates and volatilities. General interest rate risk saw the strongest relative increase. Here, the VaR (excluding risks arising from guarantee products) more than doubled versus the end of 2021 (€10.8m) to €21.7m. The increase resulted mainly from non-trading book portfolios, whereas trading book portfolios even saw a slight reduction on average. The VaR for spread risk was also up significantly as of the reporting date at €59.7m (year-end 2021: €49.8m). Alongside the dominant market developments, a slight increase in exposures also contributed to the higher risk. In line with the business model, risk concentration in terms of spread risk was mainly attributable to German and US bonds issued by the public sector, financial institutions and corporates. Share price risk increased versus the end of 2021 (€10.6m) to €16.7m at the reporting date. The average rise over the last six months was significantly more moderate. The monthly average in June 2022 was €13.5m compared with €12.8m in December 2021. Active management of share price risk from trading book portfolios, which includes certificates, significantly reduced the impact of rising market volatilities on risk. Currency risk increased in the reporting period from €10.8m at the end of 2021 to €12.1m. This resulted mainly from changes as part of the LIBOR transition and the weakness of the euro since the start of the Ukraine war. Currency risk at the reporting date resulted principally from positions in US dollars and pound sterling. Operational risk Current risk situation The VaR for operational risk (confidence level of 99.9%, holding period of one year) increased moderately from €280m at year-end 2021 to €286m. There were slight risk-increasing effects on both the ex-post side, from a relatively large number of actually incurred losses, and the ex-ante side, from the reassessment of various loss scenarios in the context of the Ukraine war. Risk capital allocated to operational risk stood at €370m (year-end 2021: €350m) and was 77.2% utilised. Utilisation thus remains at an uncritical level. The OR loss potential identified in the Group-wide self-assessment reduced slightly to €68m due to updates to various existing risk assessments (year-end 2021: €69m). The reduced loss potential due to the adjustment of fraud scenarios based on the loss history was almost completely balanced out by increased risks in the context of in some cases significantly higher transaction volumes and the increased market volatility in connection with the Ukraine war. 48

50

Interim financial statements | Statement of profit or loss and other comprehensive income Deka Group Interim Report 2022 Interim financial statements Statement of profit or loss and other comprehensive income for the period from 1 January to 30 June 2022 €m Interest income (thereof calculated using the effective interest method) Interest expenses Net interest income Risk provisions in the lending and securities business Net interest income after provisions Commission income Commission expenses Net commission income Net income from the derecognition of financial assets measured at amortised cost Trading profit or loss Profit or loss on financial assets mandatorily measured at fair value Profit or loss on financial instruments designated at fair value Profit or loss from fair value hedges Profit or loss on financial investments Administrative expenses (thereof expenses for the bank levy and deposit guarantee scheme) Other operating profit Total of profit or loss before tax Income taxes Interest expenses for atypical silent capital contributions Total of profit or loss Thereof: Attributable to non-controlling interests Attributable to the shareholders of DekaBank Changes not recognised in profit or loss Items reclassified to profit or loss Change in reserve for financial assets measured at fair value through other comprehensive income Change of the foreign currency basis spread of hedging derivatives Change in currency translation reserve Deferred taxes on items reclassified to profit or loss Items not reclassified to profit or loss [8] [9] [10] [11] [12] [13] [14] [15] [16] [17] [31] 889.7 783.4 8.7 584.9 – 33.0 17.1 16.4 – 2.5 602.9 82.0 – 6.8 914.5 306.2 – 608.3 – 608.3 – 17.0 44.4 0.5 – 8.7 Notes 1st half 2022 1st half 2021 Change [6] [7], [21] 463.0 199.9 361.5 101.5 47.7 149.2 401.0 176.2 321.3 79.7 18.4 98.1 1,673.1 1,578.6 15.5% 13.5% 12.5% 27.4% 159.2% 52.1% 6.0% 5.9% 6.1% 839.9 738.7 12.9 73.8 – 32.6% (> 300%) 10.1 (< – 300%) 13.6 10.4 25.7% 57.7% – 0.0 (< – 300%) 587.8 79.5 – 35.9 333.9 2.6% 3.1% 81.1% 173.9% 106.4 187.8% 25.0 – 100.0% 202.5 200.4% – o.A. 202.5 200.4% – 4.6 – 9.7 0.1 4.5 – 269.6% (> 300%) (> 300%) – 293.3% Revaluation gains/losses on defined benefit pension obligations 105.6 104.7 0.9% Change in valuation reserve for own credit risk of financial liabilities designated at fair value Deferred taxes on items not reclassified to profit or loss Other comprehensive income 2.2 – 54.4 72.6 0.2 (> 300%) – 13.4 (< – 300%) 81.8 – 11.2% Comprehensive income for the period under IFRS 680.9 284.3 139.5% Thereof: Attributable to non-controlling interests Attributable to the shareholders of DekaBank – – o.A. 680.9 284.3 139.5% 52

Interim financial statements | Condensed statement of changes in equity Deka Group Interim Report 2022 Condensed statement of changes in equity for the period from 1 January to 30 June 2022 Subscribed capital Additional capital components Capital reserve Retained earnings Consolidated profit/loss €m Equity as at 1 January 2021 191.7 473.6 190.3 4,877.1 Total of profit or loss Other comprehensive income Comprehensive income for the period under IFRS Changes in the scope of consolidation Other changes2) Allocation to reserves from retained earnings Distribution – – – – – – – – – – – – – – – – – – – – – – – – – – 28.4 – – Equity as at 30 June 2021 191.7 473.6 190.3 4,848.7 Total of profit or loss Other comprehensive income Comprehensive income for the period under IFRS Changes in the scope of consolidation Capital increase Other changes2) Allocation to reserves from retained earnings Distribution – – – – 0.0 – – – – – – – – 125.0 – – – – – – 50.1 – 0.9 – – – – – – – 2.0 336.3 – Equity as at 31 December 2021 191.7 598.6 239.5 5,187.0 Total of profit or loss Other comprehensive income Comprehensive income for the period under IFRS Changes in the scope of consolidation Other changes2) Allocation to reserves from retained earnings Distribution – – – – – – – – – – – – – – – – – – – – – – – – – – 30.9 – – Equity as at 30 June 2022 191.7 598.6 239.5 5,156.1 1) Revaluation gains/losses on defined benefit obligations 2) Comprises the payment of interest of the Additional Tier 1 bond, which is classified as equity capital under IFRS Provisions for pensions1) – 273.8 – 104.7 104.7 – – – – – 169.1 – 36.7 36.7 – – – – – – 132.4 – 105.6 95.3 202.5 – 202.5 – – 0.1 – – 59.2 238.5 334.0 – 334.0 – – 0.1 – 336.3 – 36.1 200.2 608.3 – 608.3 105.6 – – – 200.2 608.3 – – – – – 26.7 54

Interim financial statements | Condensed statement of cash flows Deka Group Interim Report 2022 Condensed statement of cash flows for the period from 1 January to 30 June 2022 €m Cash and cash equivalents at the start of the period Cash flow from operating activities Cash flow from investing activities Cash flow from financing activities Cash and cash equivalents at the end of the period 1st half 2022 1st half 2021 15,982.4 825.3 2.7 – 254.9 16,555.5 9,206.7 9,704.6 – 33.4 – 142.5 18,735.4 The definitions of the individual cash flow components are the same as those in the 2021 consolidated financial statements. The statement of cash flows is of minor importance for banks as it does not provide any information about the actual liquidity position. For details of Deka Group’s liquidity risk management, please see the risk report (Annual Report 2021). 56

Interim financial statements | Segment reporting Deka Group Interim Report 2022 Segment reporting 1 Segmentation by operating business divisions Segment reporting under IFRS 8 is based on the management approach. Segment information is presented in line with internal reporting as submitted to the Chief Operating Decision Maker on a regular basis for decision-making, resource allocation and performance assessment purposes. The Deka Group’s management reporting is based on IFRS. As total of profit or loss before tax is of limited suitability for the internal management of the business divisions, the economic result has been defined as the key management indicator. Due to the requirements of IFRS 8, the economic result has also been included in external reporting as material segment information. In addition to the total of profit or loss before tax, the economic result includes changes in the revaluation reserve (before tax) as well as the interest- and currency-related valuation result from financial instruments recognised at amortised cost. This allows economic hedges that do not meet the IFRS criteria for hedge accounting to be fully reflected for internal management purposes. The economic result also includes the interest expense on Additional Tier 1 bonds, which is reported directly within equity, as well as effects relevant for management. The latter relate to a provision for potential charges where the probability of such charges arising in the future is assessed as possible, and which are taken into account within corporate management activities as a result of the use of the economic result for management purposes, but which may not yet be reported under IFRS because they are not sufficiently substantiated. The measurement and reporting differences versus the IFRS consolidated financial statements are shown in the reconciliation to the Group’s total profit or loss before tax in the “reconciliation” column in the segment reporting. Another key indicator for the operating segments, in addition to the economic result, is total customer assets. Total customer assets primarily comprise the income-relevant assets of the mutual and special funds under management (including ETFs) in the Asset Management Securities and Asset Management Real Estate business divisions, as well as certificates issued by the Deka Group. Other components are the volume of direct investments in cooperation partner funds, the cooperation partner, third-party fund and liquidity portions of fund-based asset management as well as advisory/management mandates and master funds. Total customer assets also include DekaBank’s own portfolios of €0.3bn (31 December 2021: €0.5bn). These mainly relate to start-up financing for newly launched investment funds. Based on the definition of section 19 (1) of the German Banking Act (Kreditwesengesetz – KWG), the gross loan volume includes additional risk positions such as, among other things, underlying risks from equity derivative transactions and transactions for the purposes of mapping the guarantees of guarantee funds, as well as the volume of off-balance sheet counterparty risks. The following segments are essentially based on the business divisional structure of the Deka Group, as also used in internal reporting. The segments are defined by the different products and services of the Deka Group. Asset Management Securities The Asset Management Securities reporting segment focuses on the active fundamental and quantitative management of mutual securities funds and special funds, advisory mandates and asset management concepts, passive exchange-traded funds and combinations of these forms of investment. This offering is rounded off by services covering all aspects of the fund value chain. These include, in particular, asset servicing, which is used by institutional investors to pool their investments in master funds. In addition to investment funds and asset management concepts, the product range also includes products from selected international cooperation partners. The Deka Group’s investment funds cover all major asset classes: equity, bond, money market and mixed funds, capital protected funds and combinations of these funds. 58

Interim financial statements | Segment reporting Deka Group Interim Report 2022 Other The Other segment primarily comprises income and expenses that are not attributable to the reporting segments. These essentially comprise overheads, actuarial gains and losses resulting from the measurement of pension obligations, the bank levy and the deposit guarantee scheme, as well as a general provision for potential losses that are not allocable to any operating segment. The Other segment also includes the result from own issues and other own credit quality effects within Treasury. Other income relating to the Treasury function is allocated to the other segments on a source-specific basis and is therefore shown in the presentation of the economic result of the respective segments. €m Net interest income Risk provisions Net commission income Net financial income1) Other operating profit2) Total income without income distribution from Treasury function Administrative expenses (including depreciation and amortisation) Restructuring expense2) Total expenses (Economic) result before tax excluding income distribution Treasury function Income distribution of Treasury function Asset Management Asset Management Asset Management Securities Real Estate Services Capital Markets 1st half 2022 1st half 2021 1st half 2022 1st half 2021 1st half 2022 1st half 2021 1st half 2022 1st half 2021 Economic result 0.9 – 473.8 3.0 – 3.2 0.2 – 450.7 1.4 – 10.2 – 0.2 – 160.7 0.4 – 3.7 0.3 – 150.4 0.7 2.4 2.8 – 0.0 112.4 – 2.3 11.1 474.6 442.1 157.2 153.9 124.0 188.2 0.0 188.2 175.7 0.8 176.5 76.6 – 76.6 71.9 0.0 71.9 106.6 – 106.6 1.8 1.1 103.2 0.8 – 9.9 97.0 94.0 – 94.0 1.4 – 28.7 318.9 1.2 2.2 0.0 28.9 134.6 1.1 350.2 166.8 81.5 – 81.5 88.3 – 88.3 286.4 265.7 80.6 82.0 17.4 3.0 268.8 78.5 0.7 – 2.5 – 0.8 – 0.2 – 0.7 – 0.3 6.6 – 3.5 (Economic) result before tax 287.1 263.1 0.40 0.40 79.8 0.49 81.7 0.47 16.7 0.86 2.7 0.98 275.4 0.23 75.0 0.53 Cost/income ratio3) 30 Jun 2022 31 Dec 2021 30 Jun 2022 31 Dec 2021 30 Jun 2022 31 Dec 2021 30 Jun 2022 31 Dec 2021 Total risk (value-at-risk)4) 542 445 127 110 Total customer assets Gross loan volume 290,581 320,419 52,475 50,231 7,591 7,581 35 6 232 – 960 167 – 908 330 23,718 59,474 292 24,498 59,337 1) This includes the result from assets held for trading (trading book portfolio), the result from non-trading assets (banking book portfolio), the result from other financial investments as well as the result from repurchased own issues. 2) Restructuring expense are disclosed in the Group financial statements under Other operating profit. 3) Calculation of the cost/income ratio does not take into account the restructuring expense or risk provisions. 4) Value-at-risk for risk capacity with confidence level of 99.9% and holding period of one year. Due to the diversification within market price risk the risk for the Deka Group are not cumulative. 5) No cost/income ratio is presented for the segment Other because as this is deemed of limited economic informative value. 6) This includes effects relevant for management purposes of €–115.0m (first half 2021: €–105.0m) related to a provision for potential losses. This is additional information provided on a voluntary basis and does not form part of the IFRS notes. 60

Interim financial statements | Segment reporting Deka Group Interim Report 2022 Reconciliation of segment results to the IFRS result In principle, income and expenses are allocated on a source-specific basis to the relevant segment. Segment expenditure comprises direct expenses plus expenses allocated on the basis of cost and service accounting. During the reporting period, the reporting and measurement differences between internal reporting and the total profit or loss before tax under IFRS amounted to €56.4m (H1 2021: €9.0m) and mainly from the result not recognised in profit or loss and the change in the revaluation reserve before tax. The result not recognised in profit or loss was €–79.7m during the reporting period (H1 2021: €–85.4m). Of this total, €49.2m (H1 2021: €33.8m) was attributable primarily to interest- and currency-related valuation results in respect of financial instruments recognised at amortised cost. The result not recognised in profit or loss also includes the total interest expense (including accrued interest) of €–14.0m on the AT1 bonds (H1 2021: €–14.2m). Distributions made were recorded directly in equity, in accordance with IAS 32. In addition, a general provision to cover potential risks that could materialise in the coming months was recognised for the first time in the 2012 financial year. At the end of the first half of 2022, the provision for these effects in the management accounts was €–350.0m (H1 2021: €–235.0m). The effect on the economic result, reported in net financial income in the Other segment, in the first half of 2022 was €–115.0m (H1 2021: €–105.0m). The change of €135.8m in the revaluation reserve before tax (H1 2021: €90.7m) was also included in the economic result. Of this, €105.6m (H1 2021: €104.7m) was attributable to the change in the revaluation reserve for provisions for pensions. The other amounts shown in the reconciliation column concern differences in presentation between management reporting and the consolidated financial statements. Of these, €8.1m (H1 2021: €8.4m) relates to internal transactions that are reported in the economic result. The majority of these are included within net interest income, while the corresponding offsetting income effects are reported under net financial income. There are also reporting differences in net financial income and other operating profit from the different allocation of income effects from the repurchases of own issues. 62

Interim financial statements | General information Deka Group Interim Report 2022 Discretionary decisions, estimates or a combination of the two arise in connection with, inter alia, the recognition of risk provisions in the lending and securities business (see note [7] and note [21] “Risk provisions in the lending and securities business”), the impairment test for goodwill (see note [24] “Intangible assets”), the recognition of provisions (see note [30] “Provisions”) and the fair value measurement of financial instruments (see note [32] “Fair value disclosures for financial instruments”). 4 Accounting standards applied for the first time and to be applied in future In the first six months of 2022, there were no material new or amended standards that were relevant to the Deka Group and had to be applied to the 2022 Interim Report. New standards and interpretations and amendments to existing standards and interpretations published by the IASB and IFRIC which do not have to be applied until subsequent financial years were not applied early. 5 Scope of consolidation In addition to DekaBank as the parent company, the consolidated interim financial statements include a total of 12 (31 December 2021: 11) domestic companies and 6 (31 December 2021: 7) foreign companies in which DekaBank directly or indirectly holds the majority of the voting rights. The scope of consolidation also includes 3 structured entities (31 December 2021: 3). A total of 10 (31 December 2021: 11) affiliated companies controlled by the Deka Group were not consolidated because they are of minor significance for the presentation of the Group’s financial position and financial performance. The interests held in these subsidiaries are reported under financial assets at fair value. Likewise, structured entities are not consolidated if they are of minor significance to the consolidated interim financial statements. Units in unconsolidated investment funds are measured at fair value through profit or loss. These are shown in the statement of financial position under financial assets at fair value. The consolidated subsidiaries (affiliated companies and structured entities), joint ventures and associated companies, as well as the companies (affiliated companies and structured entities) and equity investments not included in the scope of consolidation on materiality grounds, are shown in the list of shareholdings (note [38], “List of shareholdings”). 64

Interim financial statements | Notes to the statement of profit or loss and other comprehensive income Deka Group Interim Report 2022 7 Risk provisions in the lending and securities business This item primarily includes expenses and income from changes in risk provisions for financial instruments in the measurement categories “Financial assets measured at amortised cost” (AC) and “Financial assets measured at fair value through other comprehensive income” (FVOCI), as well as for loan commitments and financial guarantee contracts insofar as they fall within the scope of the impairment rules set out in IFRS 9. Risk provisions in the lending and securities business are recognised in the statement of profit or loss and other comprehensive income as follows: €m Allocation to risk provisions/provisions for credit risks Reversal of risk provisions/provisions for credit risks Direct write-downs on receivables Income on written-down receivables Net income from modifications in the lending business (stage 3 or POCI) Risk provisions in the lending business Allocation to risk provisions Reversal of risk provisions Direct write-downs on securities Net income from modifications in the securities business (stage 3 or POCI) Risk provisions in the securities business Risk provisions in the lending and securities business 1st half 2022 1st half 2021 Change – 18.6 – 47.9 65.8 – 0.0 0.6 0.0 47.8 – 3.4 3.3 – – – 0.1 47.7 47.8 – 0.4 0.4 0.0 – 0.1 – 0.1 18.6 – – 18.5 18.4 29.3 18.1 0.4 0.2 0.0 47.9 – 3.3 – 15.4 – – – 18.6 29.3 Expenses for risk provisions were lower in the first half of 2022, primarily because the post-model adjustment applied at the end of the year for aircraft and real estate financing was no longer recognised, and also due to rating improvements for aircraft financing, which moved to stage 2. 8 Net commission income Net commission income by type of service is as follows: €m Commission income from Investment fund business Securities business Lending business Other Total commission income Commission expenses for Investment fund business Securities business Lending business Other Total commission expenses Net commission income 1st half 2022 1st half 2021 Change 1,525.6 124.6 10.4 12.5 1,447.2 113.9 8.3 9.3 1,673.1 1,578.6 814.5 72.3 1.0 1.9 889.7 783.4 779.6 56.3 1.6 2.4 839.9 738.7 78.4 10.8 2.1 3.2 94.5 34.9 16.0 – 0.6 – 0.5 49.9 44.6 66

Interim financial statements | Notes to the statement of profit or loss and other comprehensive income Deka Group Interim Report 2022 Segment reporting in note [1] shows the net commission income for each business division pursuant to IFRS 8. Commission income and commission expenses are offset and reported in net terms, meaning that the figure shown includes revenue from contracts with customers pursuant to IFRS 15. 9 Net income from the derecognition of financial assets measured at amortised cost This item comprises the net income from the early disposal of financial assets measured at amortised cost. In the first half of 2022, receivables and loans have been derecognised due to early repayments made by debtors. €m Gains arising from the derecognition of financial assets measured at amortised costs Losses arising from the derecognition of financial assets measured at amortised costs Net income from the derecognition of financial assets measured at amortised cost 1st half 2022 1st half 2021 Change 8.9 0.2 8.7 13.1 0.2 12.9 – 4.1 0.0 – 4.1 10 Trading profit or loss This item comprises sale and valuation results, dividends as well as commission from financial instruments in the trading portfolio sub-category. It also includes all results from the currency translation of financial assets and liabilities, regardless of their measurement category. In general, the net interest income from derivative and non-derivative financial instruments in this sub-category, together with any related refinancing expenses, is also reported under this item. However, net interest income from economic hedging derivatives (banking book portfolios) is reported under net interest income. €m Sale and valuation results Net interest income and current income from trading transactions Foreign exchange profit or loss Commission Trading profit or loss 1st half 2022 1st half 2021 697.5 – 106.3 2.8 – 9.2 584.9 253.7 – 166.3 – 5.0 – 8.6 73.8 Change 443.7 60.0 7.8 – 0.5 511.0 The increase in trading profit or loss is largely due to valuation results from own trading issues due to increased spreads. 11 Profit or loss on financial assets mandatorily measured at fair value This item mainly comprises gains or losses on the disposal and measurement of financial instruments in the “financial assets mandatorily measured at fair value” sub-category. However, net interest income and dividend income from financial instruments in this sub-category are disclosed under net interest income. 1st half 2022 1st half 2021 – 32.9 – 0.0 – 33.0 10.1 0.0 10.1 €m Sale and valuation results Commission Profit or loss on financial assets mandatorily measured at fair value 68 Change – 43.0 – 0.1 – 43.1

Interim financial statements | Notes to the statement of profit or loss and other comprehensive income Deka Group Interim Report 2022 15 Administrative expenses Administrative expenses comprise personnel expenses, other administrative expenses and depreciation and amortisation: €m Personnel expenses Other administrative expenses Depreciation and amortisation of Property, plant and equipment Intangible assets Right-of-use assets for leases Administrative expenses 1st half 2022 1st half 2021 Change 282.5 287.5 32.9 4.5 7.2 21.2 602.9 285.1 274.0 28.7 1.7 7.9 19.1 587.8 – 2.5 13.4 4.2 2.9 – 0.8 2.1 15.1 Other administrative expenses include the full-year contribution to the European Union’s Single Resolution Fund of €60.3m (H1 2021: €61.0m) and the annual contribution to the deposit guarantee scheme of the Landesbanken and Girozentralen amounting to €21.7m (H1 2021: €18.5m). 16 Other operating profit The breakdown of other operating profit is as follows: €m Income from repurchased debt instruments Other operating income Other operating expenses Other operating profit 1st half 2022 1st half 2021 2.0 15.8 24.6 – 6.8 – 5.9 12.4 42.4 – 35.9 Change 7.9 3.4 – 17.8 29.1 Other operating profit improved year-on-year in the first half of 2022, primarily due to the pro rata reversal in the amount of €7.3m of a provision for legal risks recognised in the previous year in connection with a ruling by the German Federal Court of Justice (BGH) on the mechanism for amending general terms and conditions of business (see note [30] “Provisions”). In the previous year, expenses of €17.5m had been recognised in other operating expenses in connection with the same matter. 17 Income taxes The combined tax rate applied was unchanged at 31.9% (trade tax plus corporation tax of 15.0% and a solidarity surcharge of 5.5%). 70

Interim financial statements | Notes to the statement of financial position Deka Group Interim Report 2022 20 Due from customers Amounts due from customers can be broken down by business type as follows: €m Current accounts Daily and time deposits Lending business Genuine repurchase agreements and collateralised securities lending transactions Due from customers before risk provisions Risk provisions in the lending business Total 30 Jun 2022 31 Dec 2021 1,264.5 1,075.3 453.7 1,329.5 22,623.3 22,394.0 6,604.7 31,567.9 – 132.4 31,435.5 6,556.3 30,733.5 – 172.9 30,560.6 The breakdown of amounts due from customers by region is as follows: €m Domestic borrowers Foreign borrowers Due from customers before risk provisions Risk provisions in the lending business Total 30 Jun 2022 31 Dec 2021 11,519.7 20,048.1 31,567.9 – 132.4 31,435.5 11,367.5 19,366.0 30,733.5 – 172.9 30,560.6 Change 810.8 – 254.2 229.3 48.4 834.4 40.5 874.9 Change 152.3 682.2 834.4 40.5 874.8 21 Risk provisions in the lending and securities business Default risks in lending and securities business are recognised through provisions, including provisions for credit risks from off-balance sheet commitments. The accumulated provisions for debt instruments in the AC measurement category are offset against the gross carrying amounts on the asset side. For debt instruments in the FVOCI measurement category, the provisions are reported on the liabilities side in other comprehensive income (OCI). Risk provisions for credit risks from off-balance sheet commitments are reported on the liabilities side under provisions. Risk provisions in the first half of 2022 were as follows: €m Risk provisions in the lending business Risk provisions for loan losses – due from banks Risk provisions for loan losses – due from customers Provisions for credit risks from off-balance sheet commitments Risk provisions in the securities business Risk provisions for securities1) Total 30 Jun 2022 31 Dec 2021 140.4 0.1 132.4 7.9 5.6 5.6 146.0 179.1 0.1 172.9 6.1 5.5 5.5 184.6 Change – 38.7 0.0 – 40.5 1.8 0.1 0.1 – 38.6 1) Including risk provisions for financial assets measured at fair value through other comprehensive income 72

Interim financial statements | Notes to the statement of financial position Deka Group Interim Report 2022 Movements in risk provisions in the first half of 2022 were as follows: Risk provisions for assets measured at amortised cost Stage 1 Stage 2 Stage 3 Total 0.1 – – 0.0 0.0 – 0.0 – – – 0.0 0.1 172.9 – 0.5 0.5 – 17.2 16.5 – 47.6 – 0.0 – – 0.3 – 8.1 132.4 5.2 – 0.0 0.0 – 2.7 3.1 – 0.3 – – – 0.0 5.3 €m Due from banks Position as at 1 January 2022 Transfer to other stages Transfer from other stages Change in position including new business Allocation Reversal Utilisation Changes due to model changes Changes due to non-substantial modifications Exchange rate-related and other changes Position as at 30 June 2022 Due from customers Position as at 1 January 2022 Transfer to other stages Transfer from other stages Change in position including new business Allocation Reversal Utilisation Changes due to model changes Changes due to non-substantial modifications Changes in the scope of consolidation Exchange rate-related and other changes Position as at 30 June 2022 Financial investments Position as at 1 January 2022 Transfer to other stages Transfer from other stages Change in position including new business Allocation Reversal Utilisation Changes due to model changes Changes due to non-substantial modifications Exchange rate-related and other changes Position as at 30 June 2022 – – – – – – – – – – – 75.6 – 0.4 0.1 – 10.4 8.9 – 40.5 – – – 0.3 – 3.5 36.5 2.8 – 0.0 – 2.8 2.5 – 0.0 – – – 0.0 2.5 – – – – – – – – – – – 86.4 – – – 6.7 5.2 – 5.3 – 0.0 – – – 4.3 83.9 – – – – – – – – – – – 0.1 – – 0.0 0.0 – 0.0 – – – 0.0 0.1 10.9 – 0.1 0.4 – 0.1 2.4 – 1.8 – – 0.0 – 0.3 12.0 2.4 – 0.0 – 0.1 0.6 – 0.3 – – – 0.0 2.8 74

Interim financial statements | Notes to the statement of financial position Deka Group Interim Report 2022 Risk provisions for financial assets measured at fair value through other comprehensive income 0.6 – – – 0.1 0.0 – 0.3 – – – 0.1 0.3 – – – – – – – – – – – – – – – – – – – – – – Provisions for credit risks from off-balance sheet commitments €m Financial investments Position as at 1 January 2022 Transfer to other stages Transfer from other stages Change in position including new business Allocation Reversal Utilisation Changes due to model changes Changes due to non-substantial modifications Exchange rate-related and other changes Position as at 30 June 2022 €m Financial investments Position as at 1 January 2021 Transfer to other stages Transfer from other stages Change in position including new business Allocation Reversal Utilisation Changes due to model changes Changes due to non-substantial modifications Exchange rate-related and other changes Position as at 30 June 2021 €m Loan commitments and financial guarantee contracts Position as at 1 January 2022 Transfer to other stages Transfer from other stages Change in position including new business Allocation Reversal Utilisation Changes due to model changes Changes due to non-substantial modifications Exchange rate-related and other changes Position as at 30 June 2022 Stage 1 Stage 2 Stage 3 0.3 – – – 0.0 0.1 – 0.1 – – – – 0.3 – – – – – – – – – – – – – – – – – – – – – – Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 5.2 – – – 0.0 2.0 – 0.2 – – – 0.4 7.4 0.0 – – – 0.0 0.0 – – – – – 0.0 0.9 – – – 0.7 0.4 – 0.2 – – – 0.1 0.5 76 Total 0.3 – – – 0.0 0.1 – 0.1 – – – – 0.3 Total 0.6 – – – 0.1 0.0 – 0.3 – – – 0.1 0.3 Total 6.1 – – – 0.7 2.4 – 0.4 – – – 0.5 7.9

Interim financial statements | Notes to the statement of financial position Deka Group Interim Report 2022 Risk provisions by risk segment: €m Customers Real estate sector (including real estate funds) Transport sector Renewable energies Conventional energies and infrastructure Public sector Industrial sector Other financial institutions Service sector Other Total customers Banks Commercial banks Savings banks Other financial institutions Total banks Securities Renewable energies Conventional energies and infrastructure Industrial sector Service sector Commercial banks Transport sector Other Total securities Total Valuation allowances and provisions in the lending and securities business Defaults1) Net allocations to2)/reversals of valuation allowances and provisions for credit risk 30 Jun 2022 31 Dec 20213) 1st half 2022 1st half 20213) 1st half 2022 1st half 20213) 82.1 50.4 1.5 2.1 1.9 0.5 0.7 0.1 1.0 92.3 80.3 1.6 1.3 2.1 0.6 0.5 0.1 0.2 – 0.3 – 0.2 – – – – – – – – 38.9 4.0 – – – – – – 140.3 179.0 – 0.5 42.9 0.0 0.1 0.0 0.1 2.4 0.4 1.0 0.7 1.0 0.0 0.1 5.6 0.0 0.1 0.0 0.1 2.8 0.3 0.9 0.7 0.6 0.0 0.2 5.5 – – – – – – – – – – – – – – – – – – – – – – – – 146.0 184.6 – 0.5 42.9 13.1 35.4 0.1 – 0.8 0.2 0.1 – 0.2 0.0 – 0.7 47.2 – 0.0 – 0.0 – 0.0 – 0.0 0.4 – 0.1 – 0.0 0.0 – 0.4 – 0.0 – 0.0 – 0.1 47.1 – 16.8 6.3 6.7 3.0 – 0.5 0.0 0.3 0.7 0.1 – 0.2 0.1 0.0 0.0 0.1 3.6 0.5 3.6 0.6 8.4 1.3 0.5 18.5 18.4 1) Includes utilisation, direct write-downs and income on written-down receivables and securities 2) Negative in the column 3) In May 2022, the energy and infrastructure risk segment was split into the two risk segments renewable energies and conventional energies and infrastructure. Prior-year figures have been adjusted for better comparability. 22 Financial assets at fair value This item includes debt securities, equities, units in investment funds and derivatives held for trading purposes. Derivatives forming part of economic hedging relationships that do not meet the requirements for hedge accounting under IFRS 9 (economic hedging derivatives) are also disclosed here. This item also includes holdings in unconsolidated subsidiaries, joint ventures and associated companies, as well as other equity investments. 78

Interim financial statements | Notes to the statement of financial position Deka Group Interim Report 2022 24 Intangible assets €m Purchased goodwill Software Purchased Developed in-house Other intangible assets Total 30 Jun 2022 31 Dec 2021 Change 155.9 17.7 11.8 5.8 20.8 194.3 155.9 21.6 14.9 6.7 22.1 199.6 – – 3.9 – 3.1 – 0.8 – 1.3 – 5.2 Purchased goodwill includes €95.0m in goodwill from the acquisition of Deka Vermögensmanagement GmbH, €53.1m in goodwill from the acquisition of WestInvest Gesellschaft für Investmentfonds mbH and €7.8m in goodwill from the acquisition of IQAM Invest GmbH and IQAM Partner GmbH. Due to the continuing uncertainty in the global economic environment as a result of the COVID-19 pandemic and the war in Ukraine, goodwill impairment tests were carried out in the first half of 2022. As the tests confirmed the value of the goodwill, there was no need for any impairments. 25 Property, plant and equipment €m Plant and equipment Technical equipment and machines Right-of-use assets for leases (leasing assets) Total 26 Due to banks 30 Jun 2022 31 Dec 2021 19.8 6.4 284.2 310.3 19.1 7.4 264.4 290.9 Amounts due to banks can be broken down by business type as follows: 30 Jun 2022 31 Dec 2021 879.5 9,890.6 1,877.6 142.5 1,735.1 6,947.1 189.2 19,784.0 307.0 9,358.4 2,226.6 142.9 2,083.7 4,812.5 186.1 16,890.6 €m Overdrafts Daily and time deposits Promissory note loans and registered bonds Collateralised registered bonds and promissory note loans Unsecured registered bonds and promissory note loans Genuine repurchase agreements and collateralised securities lending transactions Borrowings Total 80 Change 0.7 – 1.0 19.8 19.5 Change 572.5 532.2 – 349.0 – 0.4 – 348.6 2,134.6 3.1 2,893.4

Interim financial statements | Notes to the statement of financial position Deka Group Interim Report 2022 29 Financial liabilities at fair value Financial liabilities at fair value comprise trading issues and liabilities designated at fair value. This item also includes the negative market values of derivative financial instruments held for trading and the negative market values of hedging derivatives that are used as hedging instruments but do not meet the requirements of IFRS 9 for hedge accounting (economic hedging derivatives). Securities short portfolios are also reported in this line item. 30 Jun 2022 31 Dec 2021 20,787.6 1,006.7 11,635.2 87.4 37.8 33,516.9 28,724.7 243.9 243.9 469.7 469.7 33,760.7 29,194.4 30 Jun 2022 31 Dec 2021 17,824.3 18,513.0 948.0 2,015.3 1,350.5 2,296.8 22,160.3 – 1,372.7 619.3 5,907.3 Change 387.4 5,727.9 49.5 4,792.1 – 225.8 – 225.8 4,566.3 Change – 688.7 – 402.5 – 281.5 20,787.6 22,160.3 – 1,372.7 150.3 – 93.6 243.9 141.9 20.7 307.1 469.7 8.4 – 20.7 – 213.5 – 225.8 €m Trading portfolio Trading issues Securities short portfolios Negative market values of derivative financial instruments (trading) Negative market values of derivative financial instruments (economic hedging derivatives) Total trading portfolio Financial liabilities designated at fair value Issues Total financial liabilities designated at fair value Total Issues are broken down by product type as follows: €m Trading portfolio Uncovered trading issues Bearer bonds issued Registered bonds issued Promissory notes raised Total Financial liabilities designated at fair value Uncovered issues Registered bonds issued Promissory notes raised Covered issues Total 82

Interim financial statements | Notes to the statement of financial position Deka Group Interim Report 2022 In its ruling of 27 April 2021, the German Federal Court of Justice (BGH) ruled that amendments to the general terms and conditions of business concerning adjustments to fees were partially invalid. The Deka Group has reviewed the relevant customer agreements and recognised a provision for legal risks in the amount of €5.9m for potential claims for the repayment of fees (31 December 2021: €13.2m). DekaBank has undertaken voluntary investigations to ascertain whether its involvement enabled third parties to conduct share trades around the dividend record date and make use of abusive tax structures or whether it was otherwise involved in such structures. The possibility of a claim in the amount of €3.8m being asserted against DekaBank in this regard due to its function as custodian cannot be ruled out in all probability. As a result, a provision for operational risks was set up in the corresponding amount as at 31 December 2020. This scenario was unchanged as at 30 June 2022. The official search of DekaBank’s premises in June 2022 and the further information obtained as part of the search does not change the assessment at the present time. The situation is being constantly reviewed. The sundry other provisions were established in respect of liabilities arising from a range of issues. Sundry other provisions chiefly comprise a provision created in the 2019 financial year for capital-strengthening measures in relation to a company in the equity investment portfolio. The drop in sundry other provisions is due primarily to the utilisation and reversal of provisions set up for IT information services in the previous year that were no longer required. 31 Equity €m Subscribed capital Own shares (deduction) Additional capital components (AT1 bonds) Capital reserve Retained earnings Statutory reserve Reserves required by the Bank’s statutes Other retained earnings Revaluation reserve For provisions for pensions For foreign currency basis spreads of hedging derivatives For financial assets measured at fair value through other comprehensive income For own credit risk of financial liabilities designated at fair value Currency translation reserve Deferred taxes Accumulated profit/loss (consolidated profit) Total x 30 Jun 2022 31 Dec 2021 Change 286.3 94.6 598.6 239.5 286.3 94.6 598.6 239.5 5,156.1 5,187.0 6.1 – 5,150.0 2.0 – 26.7 24.4 – 14.4 0.4 0.7 17.6 608.3 6,796.2 6.1 – 5,180.9 – 70.6 – 132.4 – 20.1 2.6 – 1.7 0.1 80.9 200.2 6,346.4 – – – – – 30.9 – 0.0 – – 31.0 72.6 105.6 44.4 – 17.0 2.2 0.5 – 63.1 408.1 449.8 84

Interim financial statements | Notes on financial instruments Deka Group Interim Report 2022 €m Assets Financial assets measured at amortised cost Cash reserves Due from banks Due from customers Financial investments Other assets Financial assets measured at fair value through other comprehensive income Financial investments Financial assets measured at fair value through profit or loss Trading portfolio Financial assets at fair value 30 Jun 2022 31 Dec 2021 Carrying Carrying Fair value value Fair value value 16,555.5 16,555.5 15,982.4 15,982.4 24,374.9 24,447.3 13,822.9 13,817.8 31,015.2 31,435.5 30,901.5 30,560.6 7,261.1 7,554.6 5,707.1 5,594.9 201.4 201.4 239.8 239.8 2,182.6 2,182.6 3,679.6 3,679.6 16,384.6 16,384.6 16,666.4 16,666.4 Financial assets mandatorily measured at fair value through profit or loss Financial assets at fair value Other assets Positive market values of derivative hedging instruments Total asset items Liabilities Financial liabilities measured at amortised cost Due to banks Due to customers Securitised liabilities Subordinated capital Other liabilities Financial liabilities measured at fair value through profit or loss Trading portfolio Financial liabilities at fair value Other liabilities Financial liabilities designated at fair value Financial liabilities at fair value Negative market values of derivative hedging instruments Total liability items 1,543,6 1,543.6 1,072.1 1,072.1 7.8 204.6 7.8 204.6 0.8 91.6 0.8 91.6 99,731.3 100,517.5 88,164.2 87,706.0 19,648.0 19,784.0 16,946.1 16,890.6 28,984.3 29,027.0 23,698.6 23,594.5 8,387.5 8,922.2 9,541.1 9,543.3 913.1 536.6 924.0 536.6 1,032.6 539.5 964.2 539.5 33,516.9 33,516.9 28,724.7 28,724.7 10.5 243.9 925.9 10.5 243.9 925.9 0.7 469.7 383.9 0.7 469.7 383.9 93,166.6 93,891.0 81,337.0 81,111.2 Fair value hierarchy Financial instruments carried at fair value in the balance sheet are to be allocated to the following three fair value hierarchy levels specified in IFRS 13 depending on the input factors influencing their valuation: Level 1: (Prices listed on active markets): Financial instruments whose fair value can be derived directly from prices on active, liquid markets are allocated to this level. Level 2: (Valuation method based on observable market data): Financial instruments whose fair value can be determined either from similar financial instruments traded on active and liquid markets, from similar or identical financial instruments traded on less liquid markets, or based on valuation methods with directly or indirectly observable input factors, are allocated to this level. Level 3: (Valuation method not based on observable market data): Financial instruments whose fair value is determined based on valuation models using, among other things, input factors not observable in the market, provided they are significant for the valuation, are allocated to this level. 86

Interim financial statements | Notes on financial instruments Deka Group Interim Report 2022 Reclassifications The following reclassifications between level 1 and level 2 of the fair value hierarchy took place in respect of assets and liabilities measured at fair value and held in the portfolio at the reporting date: €m Reclassifications from level 1 to level 2 2022 2021 Reclassifications from level 2 to level 1 2022 2021 398.8 63.5 63.5 14.1 62.8 – 62.8 490.9 45.8 45.8 10.3 30.0 – 30.0 631.3 161.9 161.9 2.7 241.6 – 241.6 Financial assets measured at fair value through profit or loss Debt securities, other fixed-interest securities and loan receivables Derivative financial instruments Share and other price-related derivatives Financial liabilities measured at fair value through profit or loss Securities short portfolios Derivative financial instruments Interest-rate-related derivatives Share and other price-related derivatives 1,128.0 43.2 43.2 42.5 56.0 – 56.0 Financial instruments were transferred from level 1 to level 2 during the period under review because prices on an active market could no longer be demonstrated for these financial instruments. Financial instruments were also transferred from level 2 to level 1 because, at the reporting date, prices were available for these financial instruments on an active market which could be used unchanged for valuation purposes. Within the Deka Group, reclassifications between the different levels of the fair value hierarchy are deemed to have taken place at the end of the relevant reporting period. Fair value hierarchy level 1 Where securities and derivatives are traded on active markets with sufficient liquidity, and hence where stock market prices or executable broker quotations are available, these prices are used to determine the fair value. The fair value of units in unconsolidated investment funds is generally determined from the redemption price published by the investment management company. Fair value hierarchy level 2 Fair values for insufficiently liquid bearer bonds are determined on the basis of discounted future cash flows. Instrument-specific and issuer-specific interest rates are used for discounting. Discount rates are determined from market prices of similar liquid securities, selected according to criteria in the categories of issuer, sector, rating, rank and maturity. Derivative financial instruments are measured using standard valuation models, such as the Black-Scholes model, the Black-76 model, the SABR model, the Bachelier model, the G1PP model, the G2PP model or the local volatility model. The models are always calibrated using observable market data. 88

Interim financial statements | Notes on financial instruments Deka Group Interim Report 2022 The fair value of the bonds is calculated either using the discounted cash flow model based on credit spreads that cannot be observed on the market or on the basis of indicative quotations that implicitly result in a valuation spread. The promissory note loans are also measured using the discounted cash flow model based on credit spreads that cannot be observed on the market. Assuming an average uncertainty of five basis points relating to the credit spreads, the fair value of the bonds and promissory note loans could have been €0.1m higher or lower. Determining the fair value of loan receivables also involves the use of spreads that are not observable in the market. Assuming an average uncertainty of 50 basis points relating to the credit spreads, the fair value of the loan receivables could have been €0.4m higher or lower. The Bank also allocates to level 3 a limited number of equity, credit and interest rate derivatives or issues with embedded equity, credit and interest rate derivatives, for example if unobservable valuation parameters are used which are significant for their valuation. For equity and interest rate derivatives whose valuation requires correlations, the Bank typically uses historical correlations with the relevant share prices or interest rate fixings, or changes to these. The sensitivity of the equity option positions concerned was around €–2.2m as at 30 June 2022. For interest rate derivatives based on an index spread, the sensitivity in terms of the correlation between the relevant reference indices is mapped via shifts in the model parameters. The resulting change in the correlation is approximately 3.24%, giving rise to a measurement difference of €+0.2m. There are also equity derivatives with a maturity that is longer than the equivalent (based on the underlying) exchange-traded equity (index) options. The temporal extrapolation uncertainty as at 30 June 2022 is approximately €–0.6m. For credit default swaps (CDS) and credit linked notes with a longer maturity than CDS spreads quoted on the market, a temporal extrapolation uncertainty of five basis points is assumed. As at 30 June 2022, this results in a value of €0.2m. There are no publicly quoted market prices for the company shares listed as shareholdings. The fair value of company shares is determined using the dividend discount model, provided that the company pays dividends on a sustained basis. Other company shares are measured on the basis of the net asset value approach. For transactions assigned to fair value hierarchy level 2 or 3 on the reporting date, a day-one profit of €1.0m was accrued on the reporting date (previous year: day-one loss of €1.1m). This accrual item will be reversed over the residual term to maturity of the financial instruments concerned over the coming financial years. As at 30 June 2022, 100% of bonds and other fixed-income securities allocated to level 3 for which an external rating was available were rated as investment grade. 90

Interim financial statements | Notes on financial instruments Deka Group Interim Report 2022 The movement in level 3 liabilities carried at fair value is shown in the table below: €m As at 1 January 2021 Additions through purchase Disposals through sale Additions through issues Maturity/repayments Transfers To Level 3 From Level 3 Changes arising from measurement/disposal Recognised in profit or loss1) Recognised in other comprehensive income2) As at 31 December 2021 Movement in unrealised gains or losses in respect of liabilities in the portfolio at the balance sheet date3) As at 1 January 2022 Additions through purchase Disposals through sale Additions through issues Maturity/repayments Transfers To Level 3 From Level 3 Changes arising from measurement/disposal Recognised in profit or loss1) Recognised in other comprehensive income2) As at 30 June 2022 Movement in unrealised gains or losses in respect of liabilities in the portfolio at the balance sheet date3) Interest-rate- related derivatives Share and other price- related derivatives 120.6 2.2 – – – – 2.9 65.0 – 54.9 – 42.5 55.3 – – – – – 1.7 – 275.7 – 329.3 – 275.7 62.9 – 1.7 – 14.2 – 28.5 0.4 – 18.1 – 17.0 17.7 – – 5.6 – – 18.8 0.4 – 1.3 – 43.0 – 9.5 Issues 2,396.5 Total 2,580.0 – – 101.2 292.6 1.6 197.9 111.9 – 2.2 1.7 101.2 306.8 1.6 229.3 177.3 – 1,896.9 1,969.9 76.9 1,896.9 17.4 1,969.9 – – 27.0 51.8 14.7 43.7 345.5 – – – 5.6 27.0 51.8 33.5 45.8 68.5 – 1,497.6 1,869.9 325.4 40.2 1) Gains and losses recognised in profit or loss from the measurement/disposal of level 3 financial instruments are included in net interest income, trading profit or loss, profit or loss on financial instruments mandatorily measured at fair value and profit or loss on financial instruments designated at fair value. 2) Gains and losses recognised in other comprehensive income from the measurement of level 3 financial instruments are included in the revaluation reserve. 3) Unrealised profits or losses from level 3 financial instruments are presented within net interest income, trading profit or loss, profit or loss on financial instruments required to be measured at fair value, profit or loss on financial instruments designated at fair value as well as revaluation reserve. In the reporting period, the mirror "performance of financial instruments in fair value hierarchy level 3" was standardised with regard to the presentation of the different financial instruments for reasons of better readability. In the case of disposals of derivative financial instruments, for example, the value in the opening balance is now also divided into disposal value and realised profit and loss for the period. 92

Interim financial statements | Notes on financial instruments Deka Group Interim Report 2022 When new financial instruments are introduced, existing valuation processes are examined to determine whether they can be applied to the new instrument and modified or expanded if necessary. Valuation processes may be expanded to include new price sources or apply new valuation models. Where new models are introduced, Risk Control checks for model risks as part of the implementation and validation process. 33 Information on the quality of financial assets Non-performing exposures The following table shows the breakdown of non-performing exposures by risk segment. €m Non-performing exposures1) Collateral2) Provisions for loan losses/credit rating-related changes in fair value Transport sector Renewable energies Real estate sector Total 30 Jun 2022 Total 31 Dec 2021 99.3 77.1 22.1 – – – 245.3 181.3 61.8 344.6 258.4 83.9 333.3 242.0 86.4 1) The figures shown represent the cross carrying value of the credit risk-bearing financial asset classified as non-performing. 2) Recognition of measurable collateral. Indication of market or fair value not exceeding the underlying exposure. Exposures with forbearance measures The table below shows the breakdown of forborne exposures by risk segment. €m Forborne exposures1) thereof: Performing thereof: Non-Performing Collateral2) Provisions for loan losses/credit rating-related changes in fair value Transport sector Renewable energies Real estate sector Total 30 Jun 2022 Total 31 Dec 2021 354.3 290.6 63.7 325.2 28.9 21.9 21.9 – – 0.0 834.9 644.9 190.0 770.5 63.2 1,211.1 957.4 253.7 1,095.7 92.1 1,268.3 1,020.0 248.3 1,144.1 98.7 1) The figures shown represent the cross carrying value of the credit risk-bearing financial asset classified as forborne. 2) Recognition of measurable collateral. Indication of market or fair value not exceeding the underlying exposure. Key ratios for non-performing and forborne exposures: % NPE ratio at the reporting date (Ratio of non-performing exposures to maximum credit risk) NPE coverage ratio, including collateral, at the reporting date (Ratio of risk provisions, including collateral, to non-performing exposures) NPE coverage ratio, excluding collateral, at the reporting date (Ratio of risk provisions, excluding collateral, to non-performing exposures) Forborne exposures ratio at, the reporting date (Ratio of forborne exposures to maximum credit risk) 30 Jun 2022 31 Dec 2021 0.34 99.33 24.34 1.21 0.39 98.53 25.94 1.48 The maximum credit risk underlying the ratio of non-performing and forborne exposures is determined based on IFRS 7.35K(a)/IFRS 7.36(a) using credit risk-bearing financial assets and the corresponding off- balance sheet liabilities. As at the reporting date it amounted to €100.5bn (31 December 2021: €85.5bn). 94

Interim financial statements | Other disclosures Deka Group Interim Report 2022 Other disclosures 36 Regulatory capital (own funds) Regulatory capital and the capital ratios were calculated as at 30 June 2022 on the basis of the capital requirements currently applicable under the Capital Requirements Regulation (CRR), which is subject to certain transitional provisions. The figures presented below are shown in accordance with the transitional provisions set out in the CRR as well as pursuant to full application of the regulations. Equity is calculated based on the figures from the IFRS consolidated financial statements. The composition of capital and reserves is shown in the following table: €m Common Equity Tier 1 (CET 1) capital Additional Tier 1 (AT 1) capital Tier 1 capital Tier 2 (T2) capital Own funds 30 Jun 2022 31 Dec 2021 CRR (without transitional provisions) 5,131 CRR (with transitional provisions) 5,131 CRR (without transitional provisions) 4,716 CRR (with transitional provisions) 4,716 599 5,729 709 6,439 599 5,729 709 6,439 599 5,314 761 6,075 599 5,314 761 6,075 The increase in Common Equity Tier 1 capital is due primarily to the inclusion of year-end effects from 2021 (profit retention). The items subject to a capital charge are shown in the following table: €m Credit risk Market risk Operational risk CVA risk Risk-weighted assets 30 Jun 2022 31 Dec 2021 CRR (without transitional provisions) 21,774 CRR (with transitional provisions) 21,774 CRR (without transitional provisions) 21,499 6,296 3,571 885 32,526 6,296 3,571 885 32,526 5,588 3,500 358 30,944 CRR (with transitional provisions) 21,499 5,588 3,500 358 30,944 96

Interim financial statements | Other disclosures Deka Group Interim Report 2022 Share of equity % 30 Jun 2022 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.001) 100.00 100.00 100.00 100.00 99.742) 94.90 Share in fund assets % 30 Jun 2022 100.00 100.00 100.00 Total of profit or loss €’000 Consolidated subsidiaries (affiliated companies): Name, registered office bevestor GmbH, Frankfurt/Main Deka Beteiligungs GmbH, Frankfurt/Main Deka Far East Pte. Ltd., Singapore Deka Immobilien Investment GmbH, Frankfurt/Main Deka International S.A., Luxembourg Deka Investment GmbH, Frankfurt/Main Deka Real Estate International GmbH, Frankfurt/Main Deka Real Estate Services USA Inc., New York Deka Vermögensmanagement GmbH, Frankfurt/Main Deka Vermögensverwaltungs GmbH, Frankfurt/Main Deka Verwaltungsgesellschaft Luxembourg S.A., Luxembourg IQAM Invest GmbH, Salzburg IQAM Partner GmbH, Vienna S Broker Management AG, Wiesbaden S Broker AG & Co. KG, Wiesbaden SWIAT GmbH, Frankfurt/Main WestInvest Gesellschaft für Investmentfonds mbH, Düsseldorf WIV GmbH & Co. Beteiligungs KG, Frankfurt/Main 1) 25.5% is held by IQAM Partner GmbH. 2) 5.1% is held by WIV GmbH & Co. Beteiligungs KG. Consolidated subsidiaries (structured entities): Name, registered office A-DGZ 2-FONDS, Frankfurt/Main DDDD-FONDS, Frankfurt/Main S Broker 1 Fonds, Frankfurt/Main Joint ventures accounted for under the equity method: Name, registered office Joint ventures S-PensionsManagement GmbH, Cologne1) Dealis Fund Operations GmbH i.L., Frankfurt/Main2) 1) Amounts reported in financial statements for the year ended 31 December 2020 2) Amounts reported in financial statements for the year ended 31 December 2021 98 Share of equity % Equity €’000 30 Jun 2022 30 Jun 2022 30 Jun 2022 50.00 50.00 27,307.3 32,865.4 – 762.2 47.0

Interim financial statements | Other disclosures Deka Group Interim Report 2022 Unconsolidated structured entities: Name, registered office Deka-Institutionell Defensive Equity Europe, Frankfurt/Main Deka-Immobilien PremiumPlus-Private Banking CF (T), Luxembourg Deka-MultiFactor Global Corporates, Luxembourg Deka-BoutiqueSelect, Frankfurt/Main Private Banking Premium Chance Nachhaltigkeit, Frankfurt/Main Deka-MultiFactor Emerging Markets Corporates, Luxembourg Deka-MultiFactor Global Corporates HY, Luxembourg Deka MSCI Europe ex EMU UCITS ETF, Frankfurt/Main Private Banking Premium Ertrag Nachhaltigkeit, Frankfurt/Main Deka Euro Corporates 0-3 Liquid UCITS ETF, Frankfurt/Main Premium Invest Ertrag Nachhaltigkeit, Luxembourg Deka Investors Spezial InvAG m.v.K. und TGV, Frankfurt/Main Teilgesellschaftsvermögen Mittelstandskreditfonds I, Frankfurt/Main Premium Invest Ertrag, Luxembourg 39 Related party disclosures Fund assets €m Share of equity/ fund assets % 30 Jun 2022 30 Jun 2022 3.91 0.51 31.44 2.88 7.33 27.45 37.13 18.58 9.33 101.30 8.81 20.45 12.32 99.20 96.85 93.10 88.66 66.24 58.16 54.25 49.41 48.51 37.19 27.95 23.00 22.55 The Deka Group has business dealings with related parties. These include DekaBank’s shareholders, subsidiaries that are not consolidated on materiality grounds, joint ventures, associated companies and their respective subsidiaries as well as individuals in key positions and their relatives, and companies controlled by these individuals. Individuals in key positions exclusively comprise the members of the Board of Management and Administrative Board of DekaBank. Non-consolidated own mutual funds and special funds where the holding of the Deka Group exceeds 10% as at the reporting date are shown as subsidiaries, associated companies or other related parties in accordance with their equity holding. Transactions are carried out with related parties under normal market terms and conditions as part of the ordinary business activities of the Deka Group. These relate, inter alia, to loans, overnight and time deposits and derivatives. The liabilities of the Deka Group to mutual funds and special funds essentially comprise balances with banks from the temporary investment of liquid funds. The tables below show the extent of these transactions. 100

Assurance of the Board of Management Deka Group Interim Report 2022 Assurance of the Board of Management We declare that, to the best of our knowledge, the consolidated interim financial statements prepared in accordance with the reporting standards applicable to interim financial reporting convey a true and fair view of the financial position and financial performance of the Group and that the interim management report conveys a true and fair view of the business performance including the business results and position of the Group and suitably presents the material risks and opportunities and likely development of the Group over the remainder of the financial year. Frankfurt am Main, 12 August 2022 DekaBank Deutsche Girozentrale The Board of Management Dr. Stocker Dr. Danne Dietl-Benzin Kapffer Knapmeyer Müller 102

OTHER INFORMATION 104

Other information Deka Group Interim Report 2022 Employee Representatives appointed by the Staff Committee: Board of Management Dr. Georg Stocker Chairman of the Board of Management Dr. Matthias Danne Deputy Chairman of the Board of Management Birgit Dietl-Benzin Member of the Board of Management Daniel Kapffer Member of the Board of Management Torsten Knapmeyer Member of the Board of Management Martin K. Müller Member of the Board of Management Executive Manager: Manfred Karg Edwin Quast First Deputy Chairman of the Staff Committee, DekaBank Deutsche Girozentrale, Frankfurt/Main Barbara Wörfel Second Deputy Chairwoman of the Staff Committee, DekaBank Deutsche Girozentrale, Frankfurt/Main Representatives appointed by the Federal Organisation of Central Municipal Organisations (in an advisory capacity): Dr. Uwe Brandl Mayor of the City of Abensberg and First Deputy Chairman of the German Association of Towns and Municipalities, Berlin Helmut Dedy Chief Executive Officer of the German Association of Cities, Berlin Prof. Dr. Hans-Günter Henneke Managing Member of the Presiding Board of the German County Association, Berlin Member of the General and Nominating Committee Member of the Remuneration Supervision Committee Prof. Dr. Ulrich Reuter President of the Savings Banks Association Bavaria, Munich Member of the General and Nominating Committee Member of the Remuneration Supervision Committee Member of the Audit Committee Katrin Rohmann Feelance Auditor, Birkenwerder Member of the Audit Committee Frank Saar Chairman of the Management Board of Sparkasse Saarbrücken, Saarbrücken Deputy Chairman of the Risk and Credit Committee Peter Schneider President of the Savings Banks Association Baden-Württemberg, Stuttgart Member of the General and Nominating Committee Member of the Remuneration Supervision Committee Dr. jur. Harald Vogelsang Spokesman of the Management Board of Hamburger Sparkasse AG, Hamburg President of the Hanseatic Savings Banks and Giro Association, Hamburg Ludger Weskamp (since 1 January 2022) Managing President of the East German Savings Banks Association, Berlin Burkhard Wittmacher Chairman of the Management Board of Kreissparkasse Esslingen- Nürtingen, Esslingen Member of the Audit Committee Alexander Wüerst Chairman of the Management Board of Kreissparkasse Köln, Cologne Member of the General and Nominating Committee Member of the Remuneration Supervision Committee 106

DekaBank Deutsche Girozentrale Mainzer Landstraße 16 60325 Frankfurt / Main P.O. Box 11 05 23 60040 Frankfurt Phone: + 49 (0) 69 71 47 - 0 Fax: www.dekabank.de + 49 (0) 69 71 47 - 13 76