B. GROUP FINANCIAL RESULTS 2021 AM: operating profit up 22% Comments • Segment – OP at EUR 3.5bn, up 22% • 4Q 2021 – OP up 21% Strong result at both operating entities. Higher revenues drive OP. Favorable F/X. CIR OP grows mainly due to higher average 3rd party AuM improves by 0.5%-p to 58.2%. (+10%), supported by a strong level of performance fees. PIMCO OP up 19% to EUR 763mn, mainly due to Adverse F/X; OP excluding F/X up 25%. higher AuM driven revenues and performance fees. CIR at 58.4%, 2.7%-p better than in FY 2020. AllianzGI OP up 27% to EUR 278mn, mainly due to • PIMCO –OP up 15% higher AuM driven revenues. Significant revenue increase due to higher average 3rd party AuM and higher performance fees. Allianz Real AM segment 4Q 2020 4Q 2021 ∆ Estate contributes positively. Operating revenues (EUR mn) 2,077 2,476 +19.2% CIR at 57.4%, improved by 0.7%-p. Operating profit (EUR mn) 857 1,035 +20.8% • AllianzGI – OP at EUR 932mn, up 49% Average 3rd party AuM (EUR bn) 1,685 1,924 +14.1% OP increase due to higher AuM driven revenues, 3rd party net flows (EUR bn) +27.7 +20.6 -25.8% following 21% higher average 3rd party AuM. 3rd party AuM margin (bps) 39.9 40.5 +0.6bps CIR (%) 58.7% 58.2% -0.5%-p CIR improves significantly by 8.4%-p to 60.0% due to strong revenue growth and supported by the “Excellence through Optimization and Simplicity” program. 54 B 36