B _ Corporate Governance In 2021, the Allianz Group paid € 5 mn (2020: € 6 mn) to increase Company contributions to the current pension plan “My Allianz reserves for pensions and similar benefits for active members of the Pension” are generally 15 % of total target direct compensation, Board of Management. As of 31 December 2021, reserves for reduced by an amount covering the death and occupational or pensions and similar benefits for active members of the Board of general disability risk. They are invested in a fund with a guarantee on Management amounted to € 33 mn (2020: € 35 mn). the contributions paid, but no further interest guarantee. Reserves for current pension obligations and accrued pension For members with pension rights under the now frozen defined rights for former members of the Board of Management totaled benefit plan, the above contribution rates are reduced by 19 % of the € 201 mn (2020: € 171 mn). expected annual pension from that frozen plan. Individual pensions: 2021 and 2020 € thou (total might not sum up due to rounding) 1 Current pension plan Previous pension plans Total 2 3 2 3 2 3 Board members SC DBO SC DBO SC DBO Oliver Bäte 2021 878 4,830 172 5,494 1,050 10,324 2020 812 3,765 229 5,638 1,041 9,403 Sergio Balbinot 2021 465 2,885 2 45 467 2,930 2020 464 2,354 8 46 472 2,400 4 2021 344 - - - 344 - Jacqueline Hunt 2020 458 1,720 - - 458 1,720 Dr. Barbara Karuth-Zelle 2021 353 1,115 45 1,091 398 2,206 2020 - - - - - - Dr. Klaus-Peter Röhler 2021 461 1,826 79 2,466 540 4,292 2020 346 1,302 44 2,519 390 3,821 Ivan de la Sota 2021 462 1,708 73 635 535 2,343 2020 462 1,197 98 617 560 1,814 Giulio Terzariol 2021 461 1,950 104 1,481 565 3,431 2020 462 1,427 94 1,464 556 2,891 Dr. Günther Thallinger 2021 465 2,484 83 1,779 548 4,263 2020 464 1,927 71 1,933 535 3,860 Christopher Townsend 2021 412 417 - - 412 417 2020 - - - - - - Renate Wagner 2021 464 1,182 63 247 527 1,429 2020 464 683 13 265 477 948 Dr. Andreas Wimmer 2021 42 836 9 289 51 1,125 2020 - - - - - - 1_Previous closed and frozen plans, including transition payment for Oliver Bäte. 2_SC = service cost. Service costs are calculatory costs for the DBO related to the business year reported. 3_DBO = Defined Benefit Obligation, end of year. The figures show the obligation for Allianz resulting from defined benefit plans, taking into account realistic assumptions with regard to interest rate, dynamics and biometric probabilities. 4_As Jacqueline Hunt`s service as a member of the Board of Management ended on 30 September 2021, her employer-financed DBO of € 2,215 thou as of 31 December 2021 is taken into account under the former board members. Annual Report 2021 − Allianz Group 43