DGAP-News

Deutsche Pfandbriefbank AG: pbb Deutsche Pfandbriefbank launches flotation - Seite 2

accordance with IFRS. Accordingly, the Bank already envisages a pro-rata
dividend for the financial year 2015. Dividends will be subject to a
corresponding net retained profit (Bilanzgewinn) in accordance with the
German Commercial Code (Handelsgesetzbuch), as well as to certain
regulatory requirements.

Silent participation redeemed - pbb's capitalization very good

pbb has fully redeemed Finanzmarktstabilisierungsfonds EUR 1 billion
silent participation as planned. The bank thus repaid a large part of the
financial support received by the Federal Republic of Germany back in 2009.
pbb's capitalization is very good even without the silent participation.
Under fully phased-in Basel III rules - and thus without the silent
participation - the CET1 ratio was 14.8% as of 31 March 2015.

Well positioned on the credit- and capital markets

pbb believes it is well-positioned on the credit and capital markets. The
bank has achieved a high degree of market penetration in its European core
markets; it services its clients locally as well as with cross-border
transactions, and provides demanding financing solutions. Moreover, as the
largest Pfandbrief issuer in Germany, pbb is also a key player on European
covered bond markets. The bank applies strict risk management standards,
refinances its business largely on a matched-maturity basis - from various
funding sources - and is very well-capitalised. The bank is determined to
adhere to this conservative approach, and to enhance profitability through
attractive new business. pbb believes that Investors will be able to
capitalise on this sustainable business model, in a growing market, and
benefit from an attractive risk/return profile.

Citigroup Global Markets Limited and Deutsche Bank AG have been mandated as
Joint Global Coordinators and Joint Bookrunners for pbb's flotation. J.P.
Morgan Securities plc, Commerzbank AG and Joh. Berenberg, Gossler & Co. KG
will act as additional Joint Bookrunners.

Facts and figures for pbb's planned flotation

Pricing range                  EUR 10.75 to EUR 12.75 per share
Offer period                   8 July - 15 July 2015
Initial listing                16 July 2015
Exchange                       Frankfurt, Regulated Market (Prime Standard)
Mnemonic                       PBB
ISIN                           DE0008019001
Number of ordinary shares      134,475,308