B. GROUP FINANCIAL RESULTS 2021 P/C: good underlying performance EUR mn Operating profit Combined ratio NatCat impact on CR 2021 ∆ p.y. 2021 ∆ p.y. 2021 ∆ p.y. Total P/C segment 5,710 +30.6% 93.8% -2.5%-p 3.1%-p +1.4%-p Selected OEs Germany 1,140 -4.7% 93.5% +0.6%-p 7.0%-p +5.7%-p United Kingdom 369 +11.9% 93.2% +2.1%-p 1.2%-p -0.8%-p France 438 -0.5% 95.3% +0.4%-p 1.0%-p -0.1%-p Italy 605 -20.5% 87.6% +3.9%-p 0.8%-p -0.3%-p Australia 307 +140.6% 93.4% -5.9%-p 5.7%-p -0.7%-p Central and Eastern Europe 467 +9.5% 86.9% -0.3%-p 1.7%-p +1.2%-p Spain 169 -22.8% 94.2% +2.5%-p 0.7%-p +0.4%-p Latin America 46 -77.2% 109.1% +8.4%-p 0.0%-p 0.0%-p Turkey 118 -16.4% 108.1% +8.6%-p 0.0%-p 0.0%-p 1 Global lines AGCS 366 n.m. 97.5% -18.0%-p 6.4%-p +2.4%-p Allianz Partners 256 +70.0% 95.6% -1.8%-p 0.0%-p +0.0%-p Euler Hermes 428 +299.2% 73.3% -23.4%-p ̶ ̶̶ 35 1) In 2020 OP for AGCS was at EUR -482mn (∆ EUR +848mn) B 17