DGAP-Adhoc

Allianz SE books provision in Q1 2022 for Structured Alpha to address the remaining financial exposure in relation to compensation payments and under any resolution of the governmental proceedings

DGAP-Ad-hoc: Allianz SE / Key word(s): Legal Matter Allianz SE books provision in Q1 2022 for Structured Alpha to address the remaining financial exposure in relation to compensation payments and under any resolution of the governmental proceedings 11-May-2022 / 08:51 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Pursuant to its active efforts to compensate investors in the Structured Alpha Funds of Allianz Global Investors U.S. Allianz has achieved additional settlements. In light thereof and progressing discussions with governmental authorities in the U.S., Allianz SE has decided today to book an additional provision of EUR 1.9 billion in Q1 2022 before tax. Allianz SE believes that this provision booked is a fair estimate of its remaining financial exposure in relation to compensation payments to investors and to payments under any resolution of the governmental proceedings. Allianz SE is seeking a timely resolution to the governmental proceedings in ongoing discussions with the U.S. Department of Justice and the U.S. Securities and Exchange Commission. Allianz SE will inform about a resolution and its consequences for Allianz Global Investors beyond the aforementioned payment obligations once an agreement with the authorities has been reached. The provision will negatively impact the Q1 Group net income by EUR 1.6 billion after tax, resulting in a net income attributable to shareholders of EUR 0.6 billion. Group operating profit in the first Quarter 2022 amounts to EUR 3.2 billion, while the Solvency II capitalization ratio stands at 199%. Net income attributable to shareholders will be adjusted for the Structured Alpha provision for the calculation of the dividend payout. Allianz SE policy to offer a dividend per share which is the higher of a 50% payout ratio or a 5% increase from the preceding year’s dividend remains unchanged.