B _ Corporate Governance Application of the remuneration The provision recorded in Q4 2021 for proceedings relating to the system in the financial year Structured Alpha Funds significantly reduced net income attributable to shareholders and thus also the target achievement of the net income attributable to shareholders. With net income attributable to shareholders of € 6.61 bn, the target of € 7.20 bn was not reached, resulting in a target achievement of 83.60 %. Without the very strong Financial Group targets and target achievement operating performance and the positive effect from the Allianz Life The degree of target achievement for the Group's financial targets is reinsurance agreement in the USA, the target achievement for net calculated as the simple average of the target achievement of the income attributable to shareholders would have been even lower. operating profit for the year and the net income for the year Overall, this results in an achievement rate for the Group's attributable to shareholders. At € 13.4 bn, the operating profit target financial targets of 103.47 %. The Supervisory Board did not exercise of € 12.0 bn was exceeded as all business units achieved strong any discretion in determining the Group's financial target growth, resulting in a target achievement of 123.33 % for operating achievement. profit. Group financial target achievement level 2021 Group financial target achievement 2019-2021 Group financial target achievement Operating profit Net income Achievement level combined in % Financial year 2019 2020 2021 2019 2020 2021 2019 2020 2021 Bonus curve 0 % - Floor in € bn 5.80 6.00 6.00 3.80 4.00 3.60 100 % - Target in € bn 11.50 12.00 12.00 7.50 7.90 7.20 150 % - Max in € bn 14.35 15.00 15.00 9.35 9.85 9.00 Target achievement 108.72 75.58 103.47 Achievement level in € bn 11.86 10.75 13.40 7.91 6.81 6.61 Achievement level in % 106.24 79.19 123.33 111.19 71.97 83.60 Weight in % 50.00 50.00 50.00 50.00 50.00 50.00 36 Annual Report 2021 − Allianz Group