Allianz : Further changes to Allianz SE Board of Management

Allianz SE

Group Communications

Media Release

Further Changes to Allianz SE Board of Management

• Sirma Boshnakova appointed as Member of the Board of Management effective January 1, 2022 pending regulatory approval
• Board mandates of Renate Wagner and Klaus-Peter Röhler to be extended and formally approved in February 2022
• As previously announced, Andreas Wimmer appointed Member of the Board of Management effective October 1, 2021

Munich, September 30, 2021

Following its strategic succession planning discussions at its meeting today, the Supervisory Board of Allianz SE announced the following decisions:

1. Sirma Boshnakova (49), currently thechief executive officer of Allianz Partners, has been appointed as Member of the Board of Management, effective January 1, 2022, pending customary regulatory approvals.
   Ms. Boshnakova is slated to succeed Sergio Balbinot (63) after his term expires on December 31, 2022. To ensure a seamless transition, she will work closely with Mr. Balbinot and assume portfolio responsibilities from him in the course of 2022, allowing Mr. Balbinot to focus even more on the strategic priorities in the Asia Pacific region in light of the growth potential and importance of that geography for Allianz.
2. The Supervisory Board expressedits intention to formally extend the contracts of Board of Management members Renate Wagner (47) and Klaus-PeterRöhler (56) at its upcoming February 2022 meeting.
3. As communicated, Andreas Wimmer (47), currently the chief executive officer of AllianzLebensversicherungs-AG("Allianz Leben"), has been appointed as Member of the Board of Management with responsibility for the asset management division and Allianz Life in the U.S. In addition to his new responsibilities, Mr. Wimmer will continue to serve as chief executive officer of Allianz Leben through December 31, 2021.
   Katja de la Viña (42), currently thechief financial officer of Allianz Deutschland AG, will become the chief executive officer of Allianz Leben effective January 1, 2022.

Allianz SE		Chairman of the Supervisory Board: Michael Diekmann.
Koeniginstr. 28	Board of Management: Oliver Bäte, Chairman; Sergio Balbinot, Jacqueline Hunt,
80802 Munich; Germany	Dr. Barbara Karuth-Zelle, Dr. Klaus-Peter Röhler, Ivan de la Sota, Giulio Terzariol,
Phone: +49	89 3800 18475	Dr. Günther Thallinger, Christopher Townsend, Renate Wagner (Release / Stand
Fax: +49 89	3800 2114	01.2021). For VAT -Purposes: VAT -Registration Number: DE 129 274 114; Insurance
www.allianz.com/news	services are exempt from VAT. Allianz SE, Munich, Comm.Reg.: Munich HRB
		164232.

Oliver Bäte, Chairman of the Board Management of Allianz SE, said:

"As the company looks ahead to our upcoming three-year strategic plan, the Board of Management and I look forward to working with Andreas Wimmer and Sirma Boshnakova, and we are pleased to benefit from the continued perspective, leadership, and service of

Sergio Balbinot, Renate Wagner and Klaus-Peter Röhler.

The strategic succession decisions announced today by the Supervisory Board are supported

by Allianz's deep and diverse talent bench across the company, including leaders like Katja de la Viña and others who are readily able to step into new roles."

Michael Diekmann, Chairman of the Supervisory Board of Allianz SE, said:

"With the appointments of Andreas Wimmer and Sirma Boshnakova we continue to strengthen our Board of Management with very capable talent. The projected extension of the mandates of Renate Wagner and Klaus-PeterRöhler also underscores the stability and

strength of our management team."

For further information please contact:

Christian Kroos	Tel. [phone]	5043, e-mail:[e-mail]
Holger Klotz	Tel. +49	89 3800	90921, e-mail:[e-mail]
Lauren Day	Tel. +49	89 3800	3345

About Allianz

The Allianz Group is one of the w orld's leading insurers and asset managers w ith more than 100 million 1 private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the w orld's largest investors, managing around 793 billion euros on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage more than 1.8 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, w e are amongst the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2020, over 150,000 employees achieved total revenues of 140 billion euros and an operating profit of 10.8 billion euros for the group.

These assessments are, as alw ays, subject to the disclaimer provided below .

Cautionary note regarding forw ard-looking statements

This document includes forw ard-looking statements, such as prospects or expectations, that are based on management's current view s and assumptions and subject to know n and unknow n risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forw ard- looking statements.

Deviations may arise due to changes in factors including, but not limited to, the follow ing: (i) the general economic and competitive situation in the Allianz's core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) adverse publicity, regulatory actions or litigation w ith respect to the Allianz Group, other w ell-know n companies and the financial services industry generally, (iv) the

1 Including non-consolidated entities with Allianz customers.

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frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (v) mortality and morbidity levels and trends, (vi) persistency levels, (vii) the extent of credit defaults, (viii) interest rate levels, (ix) currency exchange rates, most notably the EUR/USD exchange rate,

1. changes in law s and regulations, including tax regulations, (xi) the impact of acquisitions including and related integration issues and reorganization measures, and (xii) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.

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