DGAP-Adhoc

Allianz SE announces resolution of U.S. governmental investigations concerning Structured Alpha with a guilty plea by AGI US. Allianz SE also announces signing of a MoU for a new long-term partnership

DGAP-Ad-hoc: Allianz SE / Key word(s): Legal Matter Allianz SE announces resolution of U.S. governmental investigations concerning Structured Alpha with a guilty plea by AGI US. Allianz SE also announces signing of a MoU for a new long-term partnership 17-May-2022 / 16:29 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. Allianz SE announces that its indirect subsidiary Allianz Global Investors U.S. LLC (“AGI U.S.”) today has entered into settlements with the U.S. Department of Justice (“DOJ”) and the Securities and Exchange Commission (“SEC”) in connection with the Structured Alpha matter. Pursuant to the DOJ resolution, AGI U.S. will plead guilty to one count of criminal securities fraud, and the SEC resolution establishes that AGI US violated relevant U.S. securities laws. These settlements fully resolve the U.S. governmental investigations of the Structured Alpha matter for Allianz.

The Statement of Facts accompanying the DOJ resolution states that the criminal misconduct regarding the Structured Alpha funds was limited to a handful of individuals in the Structured Products Group of AGI U.S. who are no longer employed by the company, and that the DOJ’s investigation did not otherwise find any knowledge of, or participation in, the misconduct at Allianz SE or any other entity of the Allianz Group.

The guilty plea will result in the disqualification of AGI U.S. from advising U.S. registered mutual funds and certain type of pension funds after expiry of a temporary relief period. Allianz expects the SEC to issue waivers later today that will ensure that AGI U.S.’s resolution with the DOJ does not impact PIMCO and Allianz Life’s business activities.

Allianz SE has signed a Memorandum of Understanding to enter into a long-term strategic partnership including a transition of AGI U.S.'s investment management activities with currently appr. USD 120 billion in assets under management in scope to a new partner in the US. The transferred activities do not include any part of the Structured Products Group, which has previously been dissolved. As consideration for the transfer, Allianz Global Investors would receive a stake in the enlarged entity and long-term, global, cross-distribution agreements. Execution of definitive agreements is targeted within the next weeks.