A _ To Our Investors In the meeting of 18 February 2021, the Supervisory Board dealt comprehensively with the provisional financial figures for the financial year 2020 and the Board of Management’s dividend proposal. The appointed audit firm, PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft (PwC), Munich, reported in detail on the preliminary results of their audit. In the further course of the meeting, the Supervisory Board also discussed the target achievement of each individual member of the Board of Management and, on this basis, set their variable remuneration for the financial year 2020, subject to the approval of the annual financial statements. As part of this performance assessment, the fitness and propriety of the members of the Board of Management were confirmed. The Supervisory Board also set additional, individual sustainability targets to be achieved by the members of the Board of Management. Next, the Supervisory Board reviewed the remuneration system for the Board of Management and Supervisory Board to be submitted to the Annual General Meeting for approval, and received reports on data protection issues. In the meeting of 4 March 2021, the Supervisory Board discussed and approved the audited annual Allianz SE and consolidated Group financial statements, including market value balance sheets, as well as the Board of Management’s recommendation for the appropriation of earnings for the financial year 2020. The auditors confirmed that there were no discrepancies compared to their February report and issued an auditor’s report without any reservations for the individual and consolidated financial statements. The Supervisory Board also reviewed and approved the non-financial report for both Allianz SE and the Allianz Group, taking into account the report of the external auditor. In addition, the Board of Management submitted its report on risk developments in the financial year 2020. The annual reports from Compliance and Internal Audit were also presented at the meeting. Next, the Supervisory Board reviewed the agenda and proposals for resolution for Allianz SE’s 2021 Annual General Meeting (AGM) and approved the stipulation of the Board of Management for the AGM to be held virtually. Furthermore, at the recommendation of the Audit Committee, the Supervisory Board appointed PwC as auditor for the 2021 individual and consolidated financial statements, the auditor’s review of the 2021 half-yearly financial report, and the audit of the non-financial report. The Supervisory Board further received reports on the sales intensification (push-to-pull) program and on the situation in the industrial insurance business. Finally, the succession planning for the Board of Management was discussed. On 5 May 2021, just before the AGM, the Board of Management briefed the Supervisory Board on business performance in the first quarter of 2021 as well as on the current situation of both the Allianz Group and Allianz SE, in particular with regard to the wider impact of the COVID-19 pandemic and the acquisition of the insurance and asset management business from Aviva in Poland and Lithuania. The Supervisory Board also dealt with the objectives for its composition and matters relating to the Board of Management. At the meeting on 24 June 2021, the Board of Management first reported in detail on the course of business in the financial year 2021 to date and provided an outlook on the expected results for the second quarter and the half- year results. In addition, the Board of Management reported on legal conditions for dividend distributions and the Board’s actions to protect employees in the COVID-19 pandemic, in particular Allianz’s efforts with regard to vaccinations for employees and family members. The Supervisory Board also dealt comprehensively with Allianz Direct as an insurer with uniform market presence, product range and processes, and a common platform. Other topics covered in the report were an overview of Allianz France’s business activities, a status report on cyber risks and cybersecurity at Allianz and a comparative report on key competitors. The Board of Management then reported on the implementation of its 2018 strategy and presented the first part of the strategy presentation for Strategy 2022+ (trends and implications) for discussion. The Supervisory Board also reviewed the objectives for its composition and added the topics of cybersecurity and sustainability to the skills profile. The Supervisory Board further discussed in detail the preparation for the Supervisory Board elections in 2022 and the general succession planning for the Supervisory Board. At an extraordinary meeting on 1 August 2021, the Board of Management informed the Supervisory Board in detail about new developments with respect to administrative investigations in the USA and the ongoing civil proceedings in connection with the Structured Alpha Funds of AllianzGI U.S. LLC. At a further extraordinary meeting on 29 September 2021, the Supervisory Board discussed in detail the decisions on Board of Management personnel scheduled for the next ordinary meeting and heard a report from Ms. Boshnakova on the status of the transformation at Allianz Partners. Annual Report 2021 − Allianz Group 5