Xtrackers Physical Carbon EUA ETC SecurityIndex, costs, backtest, listings and taxation

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The ETC securities provide you with exposure to the performance of European Union Allowances (EUAs), which are carbon emission allowances traded under the EU Emissions Trading System. ETC securities can be purchased or sold on one or more stock exchanges. Each ETC security is backed by a specific number of physical EUAs known as the allowance(s) entitlement per Carbon ETC security. The allowance entitlement was initially 17 metric ton(s) and is reduced on a daily basis to reflect the product fee. The relevant auction price for EUAs used in the ETC securities is as determined by the European Energy Exchange. The level of the fee and the current allowance entitlement is specified on www.etf.dws.com. The Issuer publishes a calculated daily value per security which equals the relevant EUA price multiplied with the relevant allowance entitlement. This value does not equal the relevant secondary market price (for purchase or sale). The Issuer will seek to hold a sufficient number of EUAs to cover its obligations under the ETC securities. On redemption, the Issuer will pay the Securityholders from the net proceeds of the sale of the EUAs by the Issuer to the Carbon Counterparty (Standard Chartered Bank) in respect of the relevant Series of the Carbon ETC Securities. Subject to any amounts paid to you due to early redemption, no amounts are payable under the ETC security prior to the maturity date. On final redemption, it is intended that the ETC security will become payable at an amount equal to greater of (i) the Final Allowance(s) Redemption Amount and (ii) five per cent of the Issue Price per Carbon ETC Security as at the Series Issue Date. The Final Redemption Amount is determined by multiplying the EUAs as at the Final Redemption Valuation by the Average Allowance(s) Sale Price of the EUAs sold by the Issuer to the Carbon Counterparty over a specified period. Since the ability to make such payment is dependent on whether there are sufficient proceeds from the sale of the EUAs available, Securityholders may not receive the Final Redemption Amount in full and may receive no payment at all in certain circumstances. ETC securities will not pay periodic interest.

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The value per ETC security and the secondary market price of the ETC securities can go down as well as up throughout the term of the ETC securities. The ETC securities are not principal protected and you may lose some or all of your investment. Investors should be aware that upon investing, they will not take physical delivery of any EUAs.

More detailed information on the issuer of the ETC securities, such as the base prospectus (in English language) as well as the annual and semi-annual report (in English language), can be obtained free of charge online at www.etf.dws.com. For more details about the ETC securities, please refer to the base prospectus, which is available at www.etf.dws.com.

Intended Retail Investor This ETC product is intended for informed retail investors who:(i) understand the speculative nature of the underlying asset(s), (ii) have a long-term investment horizon of at least 5 years, (iii) have average knowledge and/or financial industry experience with similar financial products, and (iv) are prepared to accept a high risk of loss (including up to complete loss) of invested capital.