Trends in energy and procurement prices

Significant price increases were recorded in the first half of 2022 as an indirect consequence of the war in Ukraine and, primarily, the reduction or the complete suspension of energy imports from Russia and the continuing restrictions on supply chains. These, among other things, did not have a full impact on DB Group as a result of hedging measures and long-term procurement contracts. However, this will result in considerable risks for DB Group in subsequent years. If the current development continues, significant burdens for DB Group are to be expected from the turn of the year at the latest, in particular due to the drastic rise in energy prices.