Total returns stated prior to the class inception date of A shares for the funds listed in the following table are derived from the original share class performanceВ adjusted for sales charges and, where applicable, higher operating expenses. The tax-equivalent distribution rate for DWS New York Tax-Free Income fund is calculated using a 49.60% combined marginal federal and state of New York tax rate. The tax-equivalent distribution rate for DWS Massachusetts Tax-Free Income fund is calculated using a 45.80% combined marginal federal and state of Massachusetts tax rate. The tax-equivalent distribution rate for DWS Intermediate Tax-Free Fund, DWS Managed Municipal Bond Bond and DWS Short-Term Municipal Bond Fund is calculated using a 40.8% marginal federal income tax rate. The tax-equivalent distribution rate for DWS California Tax-Free Income Fund is calculated using a 54.10% combined marginal federal and state of California tax rate. Distribution rate simply measures the level of dividends and is not a complete measure of performance. Current annualized distribution rate, based upon maximum offering price which is adjusted for sales charges, where applicable, is the latest daily dividend shown as an annualized percentage of maximum offering price. Please see below for distribution rate information.Д¬urrent annualized distribution rate (without sales charge) is the latest daily dividend shown as an annualized percentage of net asset value.

Current performance may differ from the data shown. Investment returns and principal fluctuate so your shares may be worth more or less when redeemed. The nonsubsidized yield reflects what the yield would have been had a fee and/or expense waiver not been in place during the period shown. Yields are historical, will fluctuate and do not guarantee future results. If you have any questions, please contact Shareholder Services at (800) 728-3337. Neither DWS nor any of its representatives may give tax or legal advice. Consult your legal or tax counsel for advice and information concerning your particular situation.

Note that any tax or legal information presented is merely aВ summary of our understanding and interpretation of some of the current tax laws and regulations and is not exhaustive. Per-share amounts are based on the actual number of shares outstanding on the funds' record date. Prospective investors should consider purchasing shares after the record date in order to avoid a tax liability on gains their shares did not earn. Your final capital gain distribution will be based on the number of shares you own on the fund's record date. To calculate your capital gain distribution, mulitply the per share amounts in the chart by the amount of shares you own. Please consult a tax advisor regarding your specific tax situation.ДЄmounts shown are 'per share'. Short-term and long-term capital gains are taxed atВ different rates. With these capital gain payments, please keep in mind the following: It is important to note that no amounts will be provided for distributions attributable to net investment income. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.The above table lists 2021 capital gains for the DWS funds, payable to shareholders as of the dates indicated.

Other explanatory remarks: Equity collateral returned via transfer of title. Holding total positions after general meeting (6.) after annual general meeting: Proportion of voting rightsДЎ0. (only in case of attribution of voting rights in accordance with Sec. In case of proxy voting according to Sec. % of voting rights through instruments (if at least 5% or more)Д©. % of voting rights (if at least 3% or more) Person subject to the notification obligation is not controlled nor does it control any other undertaking(s) that directly or indirectly hold(s) an interest in the (underlying) issuer (1.).ДЇull chain of controlled undertakings starting with the ultimate controlling natural person or legal entity: Information in relation to the person subject to the notification obligation X

Total number of voting rights pursuant to Sec. % of voting rights through instruments (total of 7.b.1 + 7.b.2) % of voting rights attached to shares (total of 7.a.) Date on which threshold was crossed or reached: Holding directly 3% or more voting rights, if different from 3.ДҐ. Details of person subject to the notification obligation Legal entity: DWS Investment GmbH City of registered office, country: Frankfurt am Main, Germany Details of issuer Name:ДЄcquisition/disposal of shares with voting rightsДЈ.

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