Opportunity and risk report (DB AG)

The strategic orientation and the associated development forecast of DB Group also reflects the expectations for DB AG as the parent company. Because DB AG is linked to DB Group companies through financing and guarantee commitments as well as indirect and direct investements in the associated companies of DB Group, among other things, the opportunity and risk situation of DB AG also corresponds to the opportunity and risk situation of DB Group. The opportunity and risk report therefore also includes the opportunities and risks for DB AG as the parent company of DB Group. The Integrated Rail System with the DB Long-Distance, DB Regional, DB Cargo, DB InfraGO and DB Energy business units essentially reflects DB AG’s core business. The subsidiaries indirectly influence DB AG in terms of net investment income as a result of profit and loss transfer agreements. This also affects the future operating profits of the subsidiaries and the future net profits of DB AG. The financial statements under commercial law are the decisive element in measuring the dividend.