A _ To Our Investors On 16 December 2021, the Board of Management and the Supervisory Board issued the Declaration of Conformity in accordance with § 161 of the German Stock Corporation Act (“Aktiengesetz”). The Declaration was posted on the company website, where it is available to shareholders at all times. Since the submission of the last Declaration of Conformity on 10 December 2020, Allianz SE has complied with all recommendations set out by the German Corporate Governance Code in the version of 16 December 2019, and will continue to comply with them in the future. Further explanations on corporate governance in the Allianz Group can be found in the Statement on Corporate Management. More details on corporate governance are also provided on the Allianz website at https://www.allianz.com/en/about-us/corporate-management/corporate-governance.html. The Supervisory Board has formed various committees in order to perform its duties efficiently. The committees prepare the consultations in plenary sessions as well as the adoption of resolutions. They can also adopt their own resolutions. The composition of the committees can be found in the Statement on Corporate Management. The Standing Committee held six meetings in 2021 and adopted two written resolutions. This committee dealt with corporate governance issues as well as preparations for the establishment of a Sustainability Committee of the Supervisory Board, remuneration of the members of the Supervisory Board, the preparations for the AGM, the Supervisory Board self-evaluation as required by supervisory law and the associated development plan, and the efficiency review of the Supervisory Board, which was conducted in 2021 with the assistance of the external consultant Spencer Stuart. Collective and, if necessary, individual training sessions are continuously carried out as part of the implementation of the development plan. In addition, the Standing Committee has passed resolutions approving the granting of loans to senior executives. At an extraordinary meeting in March, the committee addressed in detail the planned acquisition of business activities from Aviva in Poland and Lithuania, which required the approval of the Standing Committee due to the transaction value. In May and August, the Standing Committee also gave its approval by written resolution to the exclusion of subscription rights in connection with the issue of certain financial instruments (Perpetual Fixed Rate Resettable Restricted Tier 1 bonds). The Board of Management only made use of the approval granted in August. The Personnel Committee held five meetings in 2021 and adopted five written resolutions. At the meetings, the committee discussed in detail the succession planning in the Board of Management, mainly with regard to board appointments due to expire at the end of the financial year 2022. The committee also addressed the departure of Ms. Hunt from the Board of Management and preparations for Dr. Wimmer to be appointed as her successor, as well as the appointment of Ms. Boshnakova as an additional board member with effect from 1 January 2022. Other key topics included the preparatory review of the Board of Management remuneration system for presentation at the AGM, the annual review of the appropriateness of the Board of Management remuneration, target achievement of the Board of Management members for the financial year 2020 and the definition of the targets for the 2022 variable remuneration. The committee also looked at various mandate matters of individual board members and at further succession planning for the Board of Management. The Audit Committee held five meetings in 2021. In the presence of the auditors, the committee discussed both Allianz SE’s annual financial statements and the Allianz Group’s consolidated financial statements, the management reports, the respective solvency statements and the auditor’s reports, as well as the half-yearly financial report. These reviews revealed no reasons for objection. The Board of Management reported on the quarterly results and discussed them in detail with the Audit Committee together with the results of the auditor’s review. One focus of the Audit Committee’s activities was the regular review of the ongoing impact of the COVID-19 pandemic and the effect of natural disasters and weather events, which occurred on a large scale in the last financial year. Furthermore, the committee prepared the engagement of the external auditor and defined key audit areas for the financial year 2021, and conducted an assessment of the quality of the audit. The committee also discussed the awarding of non-audit services to the auditor and approved an updated positive list of pre-approved audit and non-audit services. In two written resolutions, the Audit Committee approved the engagement of the auditor for non-audit services, each of which exceeds a value limit set by the Committee. Annual Report 2021 − Allianz Group 7