Financial Data and Key Metrics Changes - The underlying performance in Q1 2022 showed solid growth in revenue, particularly in the Property-Casualty segment, which experienced an internal growth of 6.6% [2][12] - Operating profit decreased slightly compared to the previous year, primarily due to higher natural catastrophes in the Property-Casualty segment [3][19] - Net income was impacted by a charge of EUR1.6 billion related to Structured Alpha, but adjusted net income was EUR2.2 billion, aligning with expectations [6][32] - The solvency ratio decreased by 10 percentage points to approximately 200%, still above the target threshold of 180% [11][32] Business Line Data and Key Metrics Changes - The Property-Casualty segment reported an operating profit of EUR1.4 billion, with a combined ratio showing a deterioration in retail but improvement in commercial lines [14][19][16] - Life segment operating profit remained stable at EUR1.2 billion, with a positive trend in new business margin despite market volatility [20][21] - Asset Management saw a reduction in assets under management by 5%, with negative flows at PIMCO but positive flows at AGI [25][26][29] Market Data and Key Metrics Changes - The market impacts included a 5 percentage point reduction in the solvency ratio due to market movements, inflation, and geopolitical factors [9][10] - The investment income in the Property-Casualty segment increased, with expectations of higher returns due to reinvestments in a favorable rate environment [18][86] Company Strategy and Development Direction - The company is focused on capital management, including a buyback program totaling EUR1.5 billion, reflecting a commitment to shareholder returns [33][32] - There is an emphasis on refining risk management strategies, particularly concerning tail risks and accumulation risks in the P&C segment [65][66] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the operating environment, noting that while inflation poses challenges, rate increases are generally aligned with severity and frequency trends [54][56] - The company is monitoring social inflation and litigation finance risks, particularly in the U.S. market, while maintaining a cautious approach [64][63] Other Important Information - The company is actively managing its exposure to Structured Alpha, with ongoing efforts to resolve related issues and ensure timely resolutions [77][76] - The investment margin in the Life segment is expected to remain stable, with potential for improvement depending on market conditions [23][20] Q&A Session Summary Question: Outlook for yield and investment margin guidance - Management indicated that the increase in investment income is partially driven by inflation-linked bonds, with expectations for the investment margin to remain stable or improve depending on market volatility [37][39] Question: Retail motor pricing and operational inflation - Management noted that while there are pressures in the UK market, other regions are seeing positive rate changes, and operational inflation has not yet significantly impacted the expense ratio [53][56] Question: Social inflation and litigation finance - Management acknowledged the importance of monitoring social inflation and indicated that litigation finance is not currently a focus but will be reviewed [64][63] Question: COVID reserve releases and Structured Alpha - Management confirmed that there is potential for further reserve releases related to COVID, and updates on Structured Alpha will be provided as more information becomes available [76][77]

Financial Data and Key Metrics Changes - Revenues increased by 6% to nearly €150 billion, with operating profit rising by 25% compared to the previous year [7][8] - Shareholders' net income slightly decreased due to a €2.8 billion charge related to litigation and structured alpha [8][47] - The solvency ratio for 2021 stands at 209%, even after accounting for structured alpha impacts [9][49] - Return on equity (ROE) is reported at 10.6%, down from 14.9% before the structured alpha charge [9][47] Business Line Data and Key Metrics Changes - Property and Casualty (P&C) segment achieved an operating profit of €5.7 billion, with a combined ratio of 93.8% [46][49] - Life segment reported an operating profit of €5 billion, with a new business margin exceeding 3% [46][64] - Asset management delivered an operating profit of €3.5 billion, with a strong reduction in the cost-to-income ratio [46][76] Market Data and Key Metrics Changes - The P&C segment experienced a growth rate of 4% for the year, recovering from a negative growth in the first quarter [55] - The investment income exceeded expectations, contributing positively to the overall performance [46][49] - The life business is becoming accretive to the solvency ratio development, with strong organic capital generation [50][64] Company Strategy and Development Direction - The company is focused on transforming its balance sheet to be more capital efficient and less volatile, particularly in the life insurance segment [6][10] - There is a commitment to driving growth through a combination of life and asset management, leveraging competitive advantages [24][26] - The company aims to maintain a string of pearls acquisition strategy to strengthen market positions across various regions [42][80] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to absorb shocks and reduce volatility in the future [7][9] - The outlook for 2022 is set at €13.4 billion in operating profit, with expectations for continued growth across segments [79][80] - Management emphasized the importance of managing tail risks and improving combined ratios in the P&C segment [34][87] Other Important Information - The company announced a €1 billion share buyback program, expected to be completed by summer 2022 [10][84] - There is a strong focus on ESG initiatives, with progress towards achieving set targets for 2024 and beyond [54][72] Q&A Session Summary Question: Share buyback timing and expectations - The share buyback of €1 billion is expected to be completed by summer 2022 [84] Question: Capital Markets Day targets and baseline - The target for operating profit growth is deemed achievable, with a baseline slightly higher than previously indicated [84] Question: Focus areas in non-life businesses - Turkey's high combined ratio is noted, but the investment income remains strong, indicating operational success [85][87]

Allianz SE (OTCPK:ALIZF) Q3 2021 Earnings Conference Call November 10, 2021 8:30 AM ET Company Participants Giulio Terzariol – Chief Financial Officer Unidentified Company Representative – Unidentified Conference Call Participants Andrew Ritchie – Analyst Peter Eliot – Analyst Michael Huttner – Analyst Fulin Liang – Analyst Will Hardcastle – Analyst William Hawkins – Analyst Dominic O'Mahony – Analyst Vinit Malhotra – Analyst Unidentified Analyst – Analyst Operator [Operator Instructions]. And with that, I ...

Financial Data and Key Metrics Changes - Allianz reported a strong revenue growth of 5% for the first half of 2021, with an operating profit of €6.7 billion, significantly ahead of the outlook of €13 billion for the year [30][31] - The shareholders' net income reached €4.8 billion, indicating robust financial performance [31] - The solvency ratio stands at 206%, slightly down from March but still above the target [33] Business Line Data and Key Metrics Changes - The Life/Health business saw a present value of new business premium increase of 70%, with a new business margin above the target of 3% [43][45] - The Property-Casualty segment achieved an internal growth of 3.6%, with improvements noted in Germany, Australia, and Eastern Europe [36] - Asset Management reached a record level of assets under management, with €26 billion of inflows for the quarter, contributing to a 29% growth in operating profit [51][55] Market Data and Key Metrics Changes - The demand for life and health products is strong, with dynamic revenue growth and favorable margins [9] - The asset management business continues to grow, with all asset classes contributing to the increase in third-party assets under management [51] - The combined ratio for the Property-Casualty segment improved, reflecting better underwriting performance despite natural catastrophes [41] Company Strategy and Development Direction - Allianz is focused on integrating life insurance and asset management offerings, positioning itself uniquely in the market [27] - The company aims to enhance customer value through innovative products and improved capital efficiency [68][70] - There is a commitment to transparency and cooperation with authorities regarding ongoing investigations, emphasizing the importance of restoring trust [22][21] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by natural catastrophes and the ongoing COVID-19 pandemic but expressed confidence in the company's resilience and growth potential [5][11] - The outlook for the next three years anticipates generating approximately €9 billion annually, with a growth target of 5% in earnings [28] - Management emphasized the importance of maintaining strong cash flow generation and fulfilling commitments to shareholders [11][59] Other Important Information - Allianz is actively participating in vaccination efforts and supporting employees during the pandemic [13][16] - The company is addressing risks related to the AGI U.S. structure and is committed to ethical standards and transparency in its operations [17][19] Q&A Session All Questions and Answers Question: Regarding the Alpha Funds issue and DOJ inquiries - Management stated that they are actively participating in the DOJ proceedings and are committed to creating clarity as quickly as possible, but cannot comment on specific numbers due to legal constraints [64] Question: Impact of back-book management on capital and P&L - Management highlighted that the renegotiation of contracts in Italy is expected to generate significant value and improve performance without selling back-books at a loss [70][71]

Investor Relations Release reinhard.lahusen@allianz.com +49 89 3800 17224 christian.lamprecht@allianz.com +49 89 3800 3892 tobias.rupp@allianz.com +49 89 3800 7151 Munich, August 6, 2021 oliver.schmidt@allianz.com +49 89 3800 3963 investor.relations@allianz.com www.allianz.com/investor-relations Allianz stays well on course in second quarter 2021 • Total revenue growth of 10.9 percent in 2Q 2021 • 2Q 2021 operating profit of 3.3 billion euros • 2Q 2021 net income attributable to shareholders up 45.7 percent ...

Financial Data and Key Metrics Changes - The company reported a flat revenue, primarily due to the Property-Casualty and Life Health segments, while Asset Management showed positive development [5] - Operating profit reached €3.3 billion, exceeding the prior period and the full-year outlook of €12 billion [5][7] - Net income was €2.6 billion, benefiting from strong operating performance and no impairments during the quarter [7][47] - The solvency ratio improved by 3 percentage points, reaching 210%, with a pro forma adjustment indicating a 7 percentage point improvement [8][10] Business Line Data and Key Metrics Changes - The Property-Casualty segment experienced a growth rate of -1.6%, attributed to the COVID situation, with expectations for normal growth rates post-COVID [11][12] - The Life segment saw production increase by 8%, with a new business margin improvement of 10 basis points, particularly in Protection & Health [23][24] - The Asset Management segment achieved a record level of €2.4 trillion in assets under management, with strong inflows of €40 billion [35][37] Market Data and Key Metrics Changes - The market conditions were favorable, with interest rates rising, contributing to an 8 percentage point improvement in the solvency ratio [10] - The company noted stable rate momentum in Property-Casualty, with strong rate increases in the industrial business, particularly in Italy [14][15] Company Strategy and Development Direction - The company aims to maintain a cost-income ratio below 67% while considering investments in the business [55] - There is a focus on improving profitability in the Commercial Lines business and a cautious approach to growth in the Property-Casualty segment [12][106] - The company is exploring M&A opportunities while balancing buybacks, maintaining a disciplined approach to capital allocation [78][116] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong start to 2021, with expectations for continued positive performance despite the challenges posed by COVID [7][51] - The impact of COVID in Q1 was neutral, with expectations for no negative impact on 2021 targets moving forward [119][120] - Management indicated that the combined ratio of 93% in Property-Casualty is a target they are comfortable with, with potential for improvement [95] Other Important Information - The company reported no impairments during Q1, contributing to strong net income [47][33] - The investment margin for the Life segment exceeded €1 billion, with expectations for it to remain at the upper end of the projected range [32][34] Q&A Session Summary Question: Sustainability of AGI's cost-income ratio - Management expects a sustainable cost-income ratio of 61%, with a target of 67% achievable as they invest in the business [55][56] Question: PIMCO's internal asset margins - No changes have been made to the pricing structure for PIMCO's internal assets, with any increases attributed to the inclusion of Allianz Real Estate [60][61] Question: Outlook for Euler Hermes - The underlying combined ratio is better than reported, with expectations for stability in 2021 and 2022 [62][63] Question: Premium growth in P&C - Management clarified that the expected premium growth of 5% to 6% was a forward-looking statement, with actual expectations for flat revenue growth [93][94] Question: M&A strategy - The company continues to pursue a bolt-on M&A strategy, with no changes to its approach [116][117]

1Q 2021 Giulio Terzariol Chief Financial Officer Analyst conference call May 12, 2021 © Allianz SE 2021 CONTENT1GROUP FINANCIAL RESULTS 1Q 2021 2 ADDITIONAL INFORMATION GLOSSARY DISCLAIMER Group financial results 1Q 2021 Group: good start into the year | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------------|--------|-------------------------------------------------|-------|-------|----------------------------|-------|--------------------------|--------------------- ...

Financial Data and Key Metrics Changes - Allianz reported revenues of €140 billion, an operating profit of €10.8 billion, and a net income of €6.8 billion for 2020, maintaining the dividend flat compared to the previous year [5][6][10] - The solvency ratio improved to 207%, with expectations to remain above 203% even after planned buybacks [9][61] - The return on equity (ROE) was reported at 11.4%, impacted by €1.3 billion due to COVID-19 [10][12] Business Line Data and Key Metrics Changes - The Property and Casualty (P&C) segment faced challenges due to COVID-19, resulting in a combined ratio of 97.4% for Q4 [54][67] - The Life segment achieved an operating profit of €1.4 billion, with a positive COVID impact of €200 million in Q4 [55][79] - Asset Management reported strong performance with an operating profit of nearly €900 million and €30 billion in inflows for the quarter [56][60] Market Data and Key Metrics Changes - Overall growth rates were reported at -1.5%, but adjusted for consolidation and FX effects, growth was at 1.3% [63] - The combined ratio for the P&C segment was 96.3%, with an accident year claims ratio of 68.6% [67][69] - The investment income decreased by €300 million due to lower bond income and reduced equity holdings [72] Company Strategy and Development Direction - Allianz aims to balance strong financial performance with a robust balance sheet, focusing on resilience and stability [9][30] - The company is committed to diversifying income sources away from pure investment income towards fee and loadings, particularly in protection earnings [27][28] - Strategic priorities for 2021 include driving productivity, simplifying products, and reallocating capital from low-performing businesses [50][51] Management's Comments on Operating Environment and Future Outlook - Management expressed a cautious outlook for 2021, anticipating challenges from COVID-19, a weakened US dollar, and lower interest rates [46][47] - The company aims for an operating profit midpoint of €12 billion for 2021, emphasizing the importance of delivering on commitments [102] - Management highlighted the resilience of the business model and the importance of maintaining customer and employee satisfaction [42][36] Other Important Information - Allianz has made significant investments in technology, enabling a large portion of employees to work from home effectively [38][39] - The company has been recognized for its shareholder-friendly remuneration system and has increased employee share ownership to over 50% [40][41] Q&A Session Questions and Answers Question: Clarification on AGCS reserve increase and outlook for credit insurance - Management noted that the situation for AGCS is better compared to previous years, with less urgency for reserve increases this year [107][109] Question: Outlook for credit insurance as government schemes run off - Management acknowledged the uncertainty in the credit insurance market as government support diminishes, but did not provide specific forecasts [105] Question: Current run rate for AGI's cost-income ratio and future performance fees - Management indicated that AGI's cost-income ratio had many moving parts, and they would provide further insights on future performance fees [105][106]

Analyst conference call | --- | --- | --- | |--------------------------------------------------------------|-------|-------| | February 2021 | | | | Please note: presentations based on 2020 preliminary figures | | | | Allianz Investor Relations App | | | | Apple App Store Google Play Store | | | AGENDA ACEO ASSESSMENT AND OUTLOOK OLIVER BÄTE © Allianz SE 2021 B GROUP FINANCIAL RESULTS 2020 GIULIO TERZARIOL GLOSSARY DISCLAIMER 10 Analyst conference call | --- | --- | |----------------|-------| | | | | | | | ...

3Q 2020 Giulio Terzariol Chief Financial Officer Analyst conference call November 6, 2020 CONTENT 1GROUP FINANCIAL RESULTS 3Q 2020 © Allianz SE 2020 2 GLOSSARY DISCLAIMER 10 Group financial results 3Q 2020 Group: resilient performance in 9M 2020 COVID-19 impact | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------------|-------------|-----------------------------------------------------------|--------|-------|----------------------------|--------|---------------------- ...