ALV.XETRA

On December 9, 2024, Allianz SE decided to amend its Dividend Policy and convert it into a broader Capital Management Policy. The framework for this policy is determined by our net income and the need for an adequate capitalization. 1. The regular dividend payout is maintained at 60 percent of the Allianz Group Net Income (attributable to shareholders), adjusted for extraordinary and volatile items e.g. amortization of intangible assets from business combinations, interest expenses from RT1 bonds, gains and losses from sale of operations, and non-operating market movements. 2. In the interest of an attractive payout policy, the further objective is maintained to pay a dividend per share of at least the amount of the previous year. 3. Further, Allianz will additionally return to its shareholders on average a minimum of 15 percent of Allianz Group Net Income (attributable to shareholders) as defined above (e.g. through share buy-backs) in the years 2025–2027. Please note: This Capital Management Policy represents the current intention of the Board of Management and of the Supervisory Board and may be revised in the future. The policy is subject to the absence of a significant earnings or capital event. Board of Management discretion includes taking into account Allianz Group's earnings, financial condition, applicable capital and solvency requirements such as a Solvency II capitalization ratio of above 150 percent, prevailing operating and financial market conditions and general economic environment. Under given circumstances the additional payout can also exceed the minimum ratio of 15 percent. Further, the dividend payment in any given year is subject to specific dividend proposals by the Board of Management and the Supervisory Board, each of which may elect to deviate from this payout policy if appropriate under the then prevailing circumstances, as well as to the decision of the Annual General Meeting.