E _ Further Information AUDITOR’S REPORT Auditor’s report In our opinion, based on the findings of our audit, the remuneration To Allianz SE, Munich report for the financial year from 1. January to 31. December 2021, including the related disclosures, complies in all material respects with We have audited the remuneration report of Allianz SE, Munich, for the the accounting provisions of § 162 AktG. financial year from 1. January to 31. December 2021 including the related disclosures, which was prepared to comply with § [Article] 162 AktG [Aktiengesetz: German Stock Corporation Act]. The audit of the content of the remuneration report described in this auditor's report includes the formal audit of the remuneration report required by § 162 Abs. [paragraph] 3 AktG, including the issuance of a The executive directors and the supervisory board of Allianz SE are report on this audit. As we express an unqualified audit opinion on the responsible for the preparation of the remuneration report, including content of the remuneration report, this audit opinion includes that the the related disclosures, that complies with the requirements of § 162 information required by § 162 Abs. 1 and 2 AktG has been disclosed in AktG. The executive directors and the supervisory board are also all material respects in the remuneration report. responsible for such internal control as they determine is necessary to enable the preparation of a remuneration report, including the related disclosures, that is free from material misstatement, whether due to We issue this auditor’s report on the basis of the engagement agreed fraud or error. with Allianz SE. The audit has been performed only for purposes of the company and the auditor‘s report is solely intended to inform the company as to the results of the audit. Our responsibility for the audit Our responsibility is to express an opinion on this remuneration report, and for our auditor’s report is only towards the company in accordance including the related disclosures, based on our audit. We conducted with this engagement. The auditor’s report is not intended for any third our audit in accordance with German generally accepted standards parties to base any (financial) decisions thereon. We do not assume for the audit of financial statements promulgated by the Institut der any responsibility, duty of care or liability towards third parties; no third Wirtschaftsprüfer (Institute of Public Auditors in Germany) (IDW). parties are included in the scope of protection of the underlying Those standards require that we comply with ethical requirements and engagement. § 334 BGB [Bürgerliches Gesetzbuch: German Civil plan and perform the audit to obtain reasonable assurance about Code], according to which objections arising from a contract may also whether the remuneration report, including the related disclosures, is be raised against third parties, is not waived. free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts including the related disclosures stated in the Munich, 21 February 2022 remuneration report. The procedures selected depend on the auditor's judgment. This includes the assessment of the risks of material misstatement of the remuneration report including the related PricewaterhouseCoopers GmbH disclosures, whether due to fraud or error. Wirtschaftsprüfungsgesellschaft In making those risk assessments, the auditor considers internal control relevant to the preparation of the remuneration report Richard Burger Frank Trauschke including the related disclosures. The objective of this is to plan and Wirtschaftsprüfer Wirtschaftsprüfer perform audit procedures that are appropriate in the circumstances, (German Public Auditor) (German Public Auditor) but not for the purpose of expressing an opinion on the effectiveness of the company's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the executive directors and the supervisory board, as well as evaluating the overall presentation of remuneration report including the related disclosures. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. 204 Annual Report 2021 − Allianz Group