IMPORTANT NOTICE

THE CONTENTS OF THE PRESENTATIONS MAY NOT BE FORWARDED OR DISTRIBUTED TO ANY OTHER PERSON AND MAY NOT BE REPRODUCED IN ANY MANNER WHATSOEVER. ISSUANCES AND SALES OF THE COMPANY’S SECURITIES MAY NOT TO BE MADE TO ANY "U.S. PERSON" (AS DEFINED IN REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”)) OR TO ANY PERSON OR ADDRESS IN THE UNITED STATES, EXCEPT TO QUALIFIED PURCHASERS (“QPs”) (AS DEFINED IN SECTION 2(a)(51)(A) OF THE UNITED STATES INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE "INVESTMENT COMPANY ACT") ACTING FOR THEIR OWN ACCOUNT OR FOR THE ACCOUNT OF ONE OR MORE OTHER QPs.

In order to access the presentations, you must acknowledge and agree to the following:

1. The content of the presentations (the “Presentations”) has been prepared by Deutsche Beteiligungs AG (the “Company”) solely for informational purposes and does not constitute or form part of, and should not be construed as an offer to buy or sell, or amount to a solicitation, promotion or incitement of an offer to buy or sell, any securities of the Company, whether in a direct issuance by the Company or in the secondary markets.
2. The Company is not and will not be registered under the Investment Company Act, and, as such, holders of the securities of the Company will not be entitled to the protections of the Investment Company Act. There are restrictions on the sale and resale of securities of the Company to, and the holding of securities by, persons in the United States or who are "U.S. persons" as defined in Regulation S under the Securities Act (“U.S. Persons”). Direct or indirect beneficial ownership of securities of the Company by any person in the United States or a U.S. Person who is not a QP is prohibited.
3. You acknowledge that the Company’s securities may not be offered, sold, pledged, transferred or otherwise delivered at any time to any person other than (i) QPs acting for their own account or the account of one or more QPs and (ii) non-U.S. Persons outside of the United States who are permitted to purchase securities of the Company in reliance on Regulation S under the Securities Act. Accordingly, if you are a U.S. Person, you agree that you shall not acquire or hold securities of the Company unless you are a QP. If you are an existing investor in the Company, regardless of your status as a U.S. Person, you agree that you shall not sell, pledge, transfer or otherwise deliver securities of the Company other than (a) in an offshore transaction meeting the requirements of Regulation S under the Securities Act to a person who is not a U.S. Person or (b) to a QP.
4. The Presentations have not been independently verified and no representation or warranty, express or implied, is made or given by or on behalf of the Company or any other party. The Presentations do not constitute investment, legal, accounting, regulatory, taxation or other advice.
5. Certain statements in the Presentations are forward-looking statements. By their nature, forward-looking statements are based upon assumptions and involve a number of risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences, including to the company, its shares and its investors, of any plans, targets or projections described herein. You should therefore not place undue reliance on forward-looking statements. In addition, statements contained in the Presentations regarding past trends or events should not be taken as a representation that such trends or events will continue in the future.
6. Certain financial data included in the presentations include “non-IFRS financial measures”, which may not be comparable to similarly titled measures presented by other companies and should not be construed as an alternative to financial measures determined in accordance with IFRS. You are cautioned not to place undue reliance on any non-IFRS financial measures or ratios included herein.
7. The contents of the Presentations may not be distributed or shared.
8. Any failure to comply with the above restrictions may constitute a violation of applicable securities laws.

I ACKNOWLEDGE AND AGREE TO THE FOREGOING