E _ Further Information INDEPENDENT AUDITOR’S REPORT To Allianz SE, Munich We conducted our audit of the consolidated financial statements and of the group management report in accordance with § 317 HGB and Report on the audit of the consolidated the EU Audit Regulation (No. 537/2014, referred to subsequently as financial statements and of the group “EU Audit Regulation”) in compliance with German Generally Accepted Standards for Financial Statement Audits promulgated by management report the Institut der Wirtschaftsprüfer [Institute of Public Auditors in Germany] (IDW). Our responsibilities under those requirements and principles are further described in the “Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements and of the Group We have audited the consolidated financial statements of Allianz SE, Management Report“ section of our auditor’s report. We are Munich, and its subsidiaries (the Group), which comprise the independent of the group entities in accordance with the requirements consolidated balance sheet as at 31 December 2021 and the of European law and German commercial and professional law, and consolidated income statement, consolidated statement of we have fulfilled our other German professional responsibilities in comprehensive income, consolidated statement of changes in equity accordance with these requirements. In addition, in accordance with and consolidated statement of cash flows for the financial year from Article 10 (2) point (f) of the EU Audit Regulation, we declare that we 1 January to 31 December 2021, and notes to the consolidated have not provided non-audit services prohibited under Article 5 (1) of financial statements, including a summary of significant accounting the EU Audit Regulation. We believe that the audit evidence we have policies. In addition, we have audited the group management report obtained is sufficient and appropriate to provide a basis for our audit of Allianz SE – which comprise the content included to comply with the opinions on the consolidated financial statements and on the group German legal requirements as well as the non-financial group management report. statement pursuant to § [Article] 315b Abs. [paragraph] 1 HGB [Handelsgesetzbuch: German Commercial Code] included in section „Non-Financial Statement“ of the group management report – for the financial year from 1 January to 31 December 2021. In accordance Key audit matters are those matters that, in our professional judgment, with the German legal requirements, we have not audited the content were of most significance in our audit of the consolidated financial of the group statement on corporate governance pursuant to statements for the financial year from 1 January to 31 December 2021. § 315d HGB. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our audit In our opinion, on the basis of the knowledge obtained in the audit, opinion thereon; we do not provide a separate audit opinion on these matters. − the accompanying consolidated financial statements comply, in all material respects, with the IFRSs as adopted by the EU and the In our view, the matters of most significance in our audit were as additional requirements of German commercial law pursuant to follows: § 315e Abs. 1 HGB and, in compliance with these requirements, give a true and fair view of the assets, liabilities, and financial ❶ Measurement of certain technical assets and liabilities as well as position of the Group as at 31 December 2021, and of its financial certain financial liabilities carried at fair value (Level 3) in life and performance for the financial year from 1 January to health insurance 31 December 2021, and ❷ Measurement of certain technical provisions in property-casualty − the accompanying group management report as a whole insurance provides an appropriate view of the Group’s position. In all ❸ Accounting treatment of the legal risks in connection with AllianzGI material respects, this group management report is consistent with U.S. Structured Alpha Funds the consolidated financial statements, complies with German legal requirements and appropriately presents the opportunities Our presentation of these key audit matters has been structured in and risks of future development. Our audit opinion on the group each case as follows: management report does not cover the content of the group statement on corporate governance referred to above. ① Matter and issue Pursuant to § 322 Abs. 3 Satz [sentence] 1 HGB, we declare that our ② Audit approach and findings audit has not led to any reservations relating to the legal compliance ③ Reference to further information of the consolidated financial statements and of the group management report. Annual Report 2021 − Allianz Group 197