According to the recommendation of No. 5.3.3 of the German Corporate Governance Code the Supervisory Board of Allianz SE has formed a Nomination Committee which is composed of three shareholder representatives and which proposes suitable candidates to the Supervisory Board for recommendation to the General Meeting. It shall be clarified in the Statutes that the members of the Nomination Committee are not entitled to a separate remuneration for their activity in the committee. In all other respects the remuneration of the committees remains unchanged.

The Management Board and the Supervisory Board therefore propose that the following resolution be adopted:

§ 11.2 sentences 2 and 3 of the Statutes shall be amended to read as follows:

"Each member of a Supervisory Board committee, except for the Audit Committee and the Nomination Committee, will receive an additional 25% of the remuneration according to paragraph 1, while the Chairman of such committee will receive an additional 50%. Members of the Audit Committee will receive an additional annual fixed remuneration of EUR 30,000, while the Chairman will receive an additional EUR 45,000."

So far, § 11.2 sentences 2 and 3 of the Statutes reads as follows:

"Each member of a Supervisory Board committee, except for the Audit Committee, will receive an additional 25% of the remuneration according to paragraph 1, while the Chairman of such committee will receive an additional 50%. Members of the Audit Committee will receive an additional annual fixed remuneration of EUR 30,000, while the Chairman will receive an additional EUR 45,000."