Shareholder Notice - Terms and Conditions Update

Xtrackers ETC plc

a public company limited by shares incorporated under the

laws of Ireland with registered number 627079, having its registered address at Fourth Floor, 3 George's Dock, IFSC, Dublin 1, Ireland

IMPORTANT NOTICE TO SECURITYHOLDERS

of the following Securities issued under the Secured Xtrackers ETC Precious Metal Linked Securities Programme in relation to Series 1 up to 2,000,000,000 Xtrackers IE Physical Platinum ETC Securities (ISIN: DE000A2T0VT7), Series 2 up to 100,000,000,000 Xtrackers IE Physical Gold ETC Securities (ISIN: DE000A2T0VU5), Series 3 up to 5,000,000,000 Xtrackers IE Physical Silver ETC Securities (ISIN: DE000A2T0VS9), Series 4 up to 5,000,000,000 Xtrackers IE Physical Silver EUR Hedged ETC Securities (ISIN: DE000A2UDH55), Series 5 up to 100,000,000,000 Xtrackers IE Physical Gold EUR Hedged ETC Securities (ISIN: DE000A2T5DZ1), Series 6 up to 100,000,000,000 Xtrackers IE Physical Gold GBP Hedged ETC Securities (ISIN: DE000A2UDH48) and Series 7 up to 2,000,000,000 Xtrackers IE Physical Platinum EUR Hedged ETC Securities (ISIN: DE000A2UDH63)

(each a "Series" and together the "Securities")

07 October 2020

Dear Securityholder,

We hereby refer to the Securities issued by the Issuer and the related Final Terms.

Capitalised terms used herein but not otherwise shall have the meanings ascribed to them in the Master Terms and Conditions of the Securities (the "Terms and Conditions") as set out in the Base Prospectus of the Issuer dated 16 March 2020, as amended and supplemented from time to time.

Further to Condition 17 of the Terms and Conditions, we hereby give you notice that Wilmington Trust SP Services (Dublin) Limited, the Trustee, has (pursuant to an Amendment Deed dated 07 October 2020) consented to amending the Terms and Conditions such that 30 days' notice is required for an increase to the Base Fee Percentage and the FX Hedging Fee Percentage rather than any change to the Base Fee Percentage and FX Hedging Fee Percentage, as detailed below:

1) In Condition 4 on page 115, the following wording in the definition of "Base Fee Percentage" shall be deleted in its entirety:

"…30 calendar days' prior notice in accordance with Condition 17 of any change to the Base Fee Percentage and if the scheduled day notified for any such change is not a Valuation Day, the change to the Base Fee Percentage shall take effect on the first following Valuation Day."

and shall be replaced by:

"…30 calendar days' prior notice in accordance with Condition 17 of any increase to the Base Fee Percentage. If the scheduled day notified for any change to the Base Fee Percentage is not a Valuation Day, the change to the Base Fee Percentage shall take effect on the first following Valuation Day."

2) In Condition 4 on page 116, the following wording in the definition of "FX Hedging Fee Percentage" shall be deleted in its entirety:

"…30 calendar days' prior notice in accordance with Condition 17 of any change to the FX Hedging Fee Percentage and if the scheduled day notified for any such change is not an FX Business Day, the change to the FX Hedging Fee Percentage shall take effect on the first following FX Business Day."

and shall be replaced by:

"…30 calendar days' prior notice in accordance with Condition 17 of any increase to the FX Hedging Fee Percentage. If the scheduled day notified for any change to the FX Hedging Fee Percentage is not an FX Business Day, the change to the FX Hedging Fee Percentage shall take effect on the first following FX Business Day."

The Base Prospectus will also be amended to include the following changes:

1) In the section entitled "Product Fee" on pages 21 and 22, the second paragraph beginning "The base fee percentage and the maximum base fee percentage…" shall be deleted in its entirety and replaced by:

"The base fee percentage and the maximum base fee percentage will be specified in the Final Terms for a Series of ETC Securities. The base fee percentage varies from Series to Series. A lower fee than the maximum base fee percentage may be charged at the discretion of the Programme Administrator. The current base fee percentage and any change to the percentage shall be published on www.etc.dws.com (or such other website notified by the Issuer for such Series of ETC Securities from time to time). Securityholders will be given not less than 30 calendar days' prior notice in accordance with the Conditions of any increase to the base fee percentage."

2) In the section entitled "Product Fee" on pages 21 and 22, the third paragraph beginning "The FX hedging fee percentage and the maximum FX hedging fee percentage…" shall be deleted in its entirety and replaced by:

"The FX hedging fee percentage and the maximum FX hedging fee percentage will be specified in the Final Terms for a Series of ETC Securities. A lower fee than the maximum FX hedging fee percentage may be charged at the discretion of the Programme Administrator. The current FX hedging fee percentage and any proposed change to the percentage shall be published on www.etc.dws.com (or such other website notified by the Issuer for such Series of ETC Securities from time to time). Securityholders will be given not less than 30 calendar days' prior notice in accordance with the Conditions of any increase to the FX hedging fee percentage."

3) In the section entitled "Taxation", the sub-section entitled "Ireland" on pages 223 and 224 shall be deleted in its entirety.

As a consequence of the above, a supplemental prospectus reflecting these changes will be published on the Website of the Issuer (www.etc.dws.com).

The changes described above are being made in accordance with the terms of the Transaction Documents.

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 respectively.

Securityholders with queries relating to this notice may address them to the following email: [email protected].

Xtrackers ETC plc