Notice to Security Holders




DB ETC plc


(the “Issuer”)


under its Secured ETC Precious Metal Linked Securities Programme

in relation to


Series 14 db Physical Silver GBP Hedged ETC



ISIN: GB00B65S8K69
(the Securities”)

We hereby refer to the Securities issued by the Issuer, the related Final Terms, and the respective Issuer Call Redemption Notice dated 9 February 2015. Capitalised terms not otherwise defined in this notice will have the meanings ascribed to them in the Conditions.

The Issuer hereby gives notice that the Issuer has applied to UKLA to cancel the Securities with effect from no earlier than twenty business days from the date of this notice.

Notices to Securityholders are validly delivered to the Clearing System(s) for communication by the Clearing System(s) to the Securityholders.

If you are not the ultimate beneficial holder in respect of the Securities, or if you have recently disposed of the Securities, please forward this notice to the ultimate beneficial holder or purchaser, as the case may be.

Securityholders with queries relating to this notice may address them to the Arranger:


Hotline: +49 (0)69 910 82800 or +44 (0)20 754 57700

DB ETC plc

Jersey, 11 March 2015

Short Name: DB ETC Plc
Category Code: MSC
Sequence Number: 456244
Time of Receipt (offset from UTC): 20150311T145113+0000


Deutsche Bank AG


Deutsche Bank AG