B _ Corporate Governance Illustrative examples: LTI payout: performance exceeds expectation (scenario 1) Illustrative example for RBM % Number RSUs € thou Initial grant based on: •LTI target 1,463 •LTI allocation amount: annual bonus achievement factor applied to LTI target 110 1,609 •RSU grant (listed share price: € 240, share price relevant to the calculation of the allocation: € 190 (= reduced by the net present value of estimated 8,470 future dividends of € 50)) LTI payout at vesting based on: •RSUs x share price at vesting (€ 298) 2,524 •TSR relative performance factor: 2 x (TSR Allianz: 45 % – TSR Stoxx Europe 600 Insurance: 40 %) + 100 % 110 Payout 2,776 LTI payout: performance remains below expectation (scenario 2) Illustrative example for RBM % Number RSUs € thou Initial grant based on: •LTI target 1,463 •LTI allocation amount: annual bonus achievement factor applied to LTI target 90 1,317 •RSU grant (listed share price: € 240, share price relevant to the calculation of the allocation: € 190 (= reduced by the net present value of estimated 6,930 future dividends of € 50)) LTI payout at vesting based on: •RSUs x share price at vesting (€ 226) 1,566 •TSR relative performance factor: 2 x (TSR Allianz: 15 % – TSR Stoxx Europe 600 Insurance: 40 %) + 100 % 50 Payout 783 Annual Report 2021 − Allianz Group 35