B. GROUP FINANCIAL RESULTS 2021 P/C: 4% internal growth Comments • Internal growth at 4.1% – accelerating in 2H • Australia – price and volume positive Price (+2.2%), volume (+1.4%) and service income Good growth in retail and commercial. Total growth also (+0.6%) contribute. Strong acceleration in 2H with IG of positively impacted by Westpac consolidation and F/X. -1.6% in 1Q, +3.6% in 2Q, +7.2% in 3Q, +10.7% in 4Q. • CEE –good growth from higher volume Allianz Partners, AGCS and CEE are the largest drivers. Romania, Czech Republic and Austria main contributors. Consolidations (+1.5%, mainly from BBVA, SulAmérica, • Spain – lower volume partially offset by price Westpac and AVIVA Italy) and F/X (-0.8%) lead to total Portfolio optimization impacts top-line. BBVA consolidation in growth of +4.8%. Rate change on renewals stable vs. 9M 4Q 2020 drives total growth. 2021 (+3.8%). Internal NPE growth +1.9%. • Turkey – price and volume contribute • Germany –positive price effect Retail MOD (motor own damage) as well as health business. Top-line driven by Privatschutz, MidCorp and SME. Total growth impacted by depreciation of Turkish Lira. • UK – driven by lower volume • AGCS –price effect partially offset by lower volume Decline in retail motor and SME partly offset by growth Fronting business, property and financial lines drive growth. in retail non-motor. Total growth driven by F/X. • Allianz Partners – higher volume and service fees • France – portfolio actions in commercial Strong growth from recovery of U.S. travel business as well as Higher top-line in motor retail overcompensated by favorable development in assistance. commercial lines. • Euler Hermes – mainly driven by higher volume • Italy – lower top-line in motor Economic recovery positively impacts top-line. Growth in commercial offset by decline in motor retail. Aviva Italy consolidated as of 4Q 2021. 32 B 14