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Diversity, Equity and Inclusion Report

Succeeding as yourself, together Diversity, Equity and Inclusion Report 2022

The 2022 Diversity, Equity and Inclusion Report is designed to communicate Allianz Global Investors’ (AllianzGI) efforts and progress to promote diversity, equity and inclusion (DEI) within our own workforce and in wider society. We share this information in the spirit of transparency, outlining our successes and where we need to do more, both in terms of delivering short-term targets and on our overall journey. The content of this report relates to all Contents AllianzGI DEI activities and locations during the 2022 fiscal year (01 January 2022 to 31 December 2022), unless Foreword 02 otherwise stated. Find out more 01 Introduction 03 AllianzGI is an active investment management firm and part of the Allianz Group. More information on 02 Workplace 07 our sustainability commitments and performance can be found in the 03 Workforce 16 following reports and on our website: AllianzGI Sustainability and Stewardship Report 2022 04 Marketplace 31 Allianz Group Sustainability Report 2022 05 Next steps 36 Allianz Global Investors Diversity, Equity and Inclusion Report 2022 01

Foreword Meaningful change occurs when organic We are proud of our progress in fostering bottom-up efforts are combined with a a welcoming and inclusive workplace but 2022: strong leadership focus and provision of we fully acknowledge that there is much education, tools and processes. This is why more work to be done. we are increasing our efforts to deliver impactful and sustainable change at We will continue to nurture the grassroots a year of every level, within and outside our firm. efforts of our passionate colleagues, Simply speaking, we want AllianzGI to hire diverse people and foster a culture be a safe, inclusive and diverse place where everyone can contribute and which we all enjoy being part of and we belong. At the same time, we will embed consolidation also want to help make this a reality for inclusive and diverse practices across wider society. our entire value chain, including with our external stakeholders. I am pleased to welcome you to our Diversity, I am tremendously encouraged by Equity and Inclusion report. 2022 marked our what we have achieved to date and look forward to driving another 10-year anniversary of conscious DEI commitment decade of positive change with your at AllianzGI and we are proud of how far we continued support. have come. 2022 was a year during which we consolidated the DEI foundations on which we will continue building. We sharpened our focus on nurturing psychological Tobias Pross (He/His/Him) safety and raised awareness of how the working CEO AllianzGI and lived experience of majority and minority groups can differ. Allianz Global Investors Diversity, Equity and Inclusion Report 2022 02

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 01 Introduction Strengthening our vision and strategy We want to create an inclusive workplace we are all proud of, where there is space for different opinions and voices to be heard and where we learn from each other. Allianz Global Investors Diversity, Equity and Inclusion Report 2022 03

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 01.1 Our approach Our reputation for inclusion Our DEI strategy strengthens our brand and enhances our licence to operate. We also serve our social purpose Workplace: Workforce: Marketplace: by using our responsible investor values to make a positive How does it feel to work here? Who do we recruit and grow? How do we serve our contribution to society. We focus on how our employees We aim to attract and develop social purpose? from majority and minority groups a large variety of talents to grow We use our responsible investor Our commitment includes all dimensions can feel more included and valued the diversity of our workforce and values to make a positive of diversity, in particular ethnicity, in our workplace. enhance women’s representation contribution to society as well as sexual orientation, gender identity, at senior levels in the organisation. making our industry more inclusive age, and disability. Applying an Build a safe work culture and nurture and diverse. intersectional approach to addressing a healthy workplace: enhance Attract and develop a wide variety our diversity challenges is key to psychological safety and wellbeing of talent to grow the diversity of Align DEI with the work of other making sustainable progress. through relevant practices, policies, our workforce at all levels including teams to better serve our Corporate tools, trainings and communication. senior management, paying special Citizenship purpose. In addition to increasing representation, attention to gender, ethnicity. we strive to create an equitable and Understand the employee experience Expand our activities to serve inclusive workplace where systems and engagement through a DEI lens: additional Corporate Citizenship and practices are fair and unbiased. collect and analyse diversity data objectives beyond financial This means ensuring equal access and and feedback throughout the literacy programmes. opportunities and creating a culture employee lifecycle. of collaboration and support. To do this, we must be intentional about our approach to embedding DEI into everything we do. This is the purpose of our DEI strategy, which is built around three key pillars and the following priorities. Allianz Global Investors Diversity, Equity and Inclusion Report 2022 04

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 01.1 Our approach Diversity is the endless mix of visible and invisible traits that make each individual unique, such as gender, age, disability, What do we nationality, ethnicity, sexual orientation, cultural background, personality types, and family status. mean by Inclusion is the behaviour we demonstrate and the processes we use to enable everyone to give their best. Our culture of inclusion embraces and values our differences – it helps us feel diversity, free to be who we are. Equality means that everyone is treated the exact same way regardless of need. For example, it means that two groups equality, are given the exact same resources to fulfill a designated goal, regardless of whether they have the same access to equity and those resources. Equity recognises the different circumstances of individuals and allocates the resources needed to reach the exact same goal. inclusion? It means that those two groups are given the resources they need to fulfill the designated goal. Allianz Global Investors Diversity, Equity and Inclusion Report 2022 05

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 01.2 Our impact DEI at a glance AllianzGI is a leading active asset manager with more than 500 investment professionals and 600 relationship managers working across more than 20 offices worldwide. We are all defined by more than one characteristic, making us endlessly diverse. Women in leadership Nationalities and age Our DEI strategy 1 Workforce ratio % female managers % women in senior No. of nationalities Average age 2022: 2022: leadership positions 2022: 2022: Workplace: 58% 32% 2022: 66 43 years In 2022, we’ve re-stated our zero- male 26% male/female tolerance philosophy towards 2021: 32% 2021: 63 harassment and discrimination. Managing Directors 42% 2021: male 44 years/ Workforce: female 50% female 43 years ExCo members We’re enhancing women’s representation 2021: at all levels, and particularly among male 59%/female 41% 2021: 23%/50% senior management. Marketplace: We’re working to make our wider industry more inclusive and diverse. 1 This refers to the first level of leadership where managers have at least one direct report. Allianz Global Investors Diversity, Equity and Inclusion Report 2022 06

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 02 Workplace Building a safe and inclusive culture and workplace We foster an inclusive culture and workplace where everyone feels they belong and where they can succeed as themselves. This is why we are continuing our efforts to enhance inclusion and psychological safety through relevant practices, policies, tools, trainings and communication. Allianz Global Investors Diversity, Equity and Inclusion Report 2022 0707

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 02.1 Building a safe and inclusive culture and workplace Our workplace culture is critical to our success as a leading global active asset manager. Everyone who works at AllianzGI is responsible for behaving in accordance with our values and for co-creating our inclusive culture. We foster inclusive behaviour to embrace diversity and empower people to succeed as themselves. This is a benefit diversity brings, adding value for our employees and clients, enhancing our brand and growing our business. We are creating a working environment where people, performance and clients matter equally and take a strong stance on inclusion and diversity. Allianz Global Investors Diversity, Equity and Inclusion Report 2022 08

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 02.2 Strengthening our zero-tolerance philosophy towards harassment and discrimination Our commitment to creating a diverse and inclusive culture requires us to meet the highest standard of ethics. All employees have the right to come to The policy re-states our zero-tolerance work with the comfort and confidence approach towards any form of misconduct that they will be free from harassment, and provides guidelines to protect our unlawful discrimination, bullying and employees and organisation. It describes abusive conduct of any kind. how we can all contribute to preventing discrimination and/or harassment, defines In 2022, Legal & Compliance and roles and responsibilities of managers and Inclusion & Diversity teams reviewed employees, and explains how employees all our existing local and regional anti- are protected against retaliation and how harassment and anti-discrimination complaints are handled. policies and established a new Global Anti-Harassment and Anti-Discrimination Policy which aligns with our DEI policy. Our actions, words, and behaviour matter. We want a workplace culture that is respectful and supportive of all employees and their uniqueness.” Petra Trautschold (She/Her/Hers) Global Head of HR Allianz Global Investors Diversity, Equity and Inclusion Report 2022 09

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 02.3 Consolidating our inclusive way of working: hybrid working We want to be the preferred inclusive home for our industry’s best talent, and we strive to provide a caring and inclusive work environment where employees have the support they need to succeed. As a global business, hybrid working has Colleagues make individual use of been a reality at AllianzGI for many years flexible working guidelines, in the way Our hybrid working policies allow and a global framework for flexible work that best suits their individual work and arrangements has been in place since life situation. for a much better work life balance 2016. We build on the benefits of remote especially, but not only, for families working while continuing to nurture In 2022, the framework for flexible with small children. I am thrilled to the elements of our office culture that working was updated, with AllianzGI 1 employees to work see that – compared to the previous help foster collaboration and a sense now aiming to allow of belonging. occasionally from abroad up to 25 days generations – now both parents per calendar year. spend much more time with their As how we work and do business evolves, our flexible hybrid work environment kids and develop a stronger bond empowers our colleagues to balance with them.” work, career development and personal priorities. It also meets the needs Greg Hirt (He/His/Him) and expectations of a diverse and Global Chief Investment Officer multigenerational workforce. Multi Asset 1 Due to considerations such as social security, immigration, domestic labour law and existing cross- country agreements, each cross-border working is reviewed and approved on a case-by-case basis. Allianz Global Investors Diversity, Equity and Inclusion Report 2022 10

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 02.4 Leveraging on technology as a lever of inclusion: our new digital tools and spaces As how we work and do business evolves, we are implementing a flexible hybrid work environment that is here to stay. New tools and equipment enable us to effectively collaborate and innovate across locations and borders. Our meeting spaces are being equipped with the very latest technology for great hybrid meeting experiences, with further upgrades to come over the next few months. We planned and started the upgrade to Windows 10 and Microsoft 365 already before the pandemic and the development has only been accelerated. Almost every employee has a laptop computer and can seamlessly work from everywhere. The meeting room video/audio setup is fully integrated with MS Teams and in many meeting rooms, modern MS Surface Hub devices facilitate joint innovation and co-creation.” Daniel Lehmann (He/His/Him) Head of Enterprise Services Allianz Global Investors Diversity, Equity and Inclusion Report 2022 11

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 02.5 Breaking taboos: talking about cancer, menopause and mental health “We care for tomorrow” is our employee value proposition, a promise we make to current and future employees. This drives us to provide a caring work environment where employees have the support they need to succeed and thrive. Putting ourselves in other people’s shoes and learning about the struggles minority and majority groups face can help us understand and support each other. Our holistic approach to health incorporates mental, social World Cancer Day and physical wellbeing. It is difficult to know where to start with talking about cancer, whether we are interested to learn more, know someone who has been diagnosed or want to support someone who is worried about a family member or friend. We created a dedicated brochure to guide colleagues through the attitudes, words and values that can help us improve the support we give to people and create a caring work environment. Allianz Global Investors Diversity, Equity and Inclusion Report 2022 12

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 02.5 Breaking taboos: talking about cancer, menopause and mental health World Menopause Day Mental Health Day Breaking down stigma and creating We took a closer look at the intersection of an inclusive environment starts with mental health and inclusion in 2022 during knowledge. 75% of those who go through Mental Health Day. Coach and mental health menopause experience symptoms expert Janice Benning gave us an overview such as insomnia, fatigue or hot flushes on the mental health issues which various –to mention a few of the impacts. majority and minority groups might face at Social stigma and misunderstanding can work and how we can collectively reduce increase the burden on women. To help stigma, support people and create a safe educate on the topic of menopause, environment. 200+ colleagues attended this we created an educational brochure on What really surprises and bespoke webinar on the intersection of mental menopause symptoms and useful insights health and inclusion. explaining why it is a topic to be aware sometimes even shocks of in the workplace. We explored how me personally, is that even menopause is regarded across cultures – when speaking to other for example, in some regions it represents the transformation into more powerful women about my problems versions of ourselves while in others it during menopause, they can have negative connotations. don’t want to hear about it. It is still such a taboo subject (not only in the workplace). We need to make this what it is, 75% a normal stage in every of those who go through woman’s life.” 200+ menopause experience Natascha Körber (She/Her/Hers) colleagues attended a bespoke symptoms such as insomnia, Team assistant webinar on the intersection of fatigue or hot flushes. mental health and inclusion. Allianz Global Investors Diversity, Equity and Inclusion Report 2022 13

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 02.5 Breaking taboos: talking about cancer, menopause and mental health International Men’s Day and Movember Research shows that men are statistically less likely to seek support for their health and tend to bottle up emotional challenges. Every November, the Movember foundation calls out to men and women to raise funds for men’s health. Wondering why it’s called Movember? At the start of November, men around the world start growing a Based on personal experience I know that moustache to show their support to the men do not access healthcare as often cause. Put moustache and November as they should do. This is for a number of together and you get Mo-vember! This year, the AllianzGI and Friends reasons including stigma, missing awareness Movember fund raised over EUR 11,235 and fear. Therefore, it is important to me to to support the cause. support Movember and make men aware of their potential health issues and how they can get support.” AllianzGI and Friends Helge Baur (He/His/Him) Movember fund raised over Legal, Compliance and Risk Senior Project Manager EUR 11,235 to support the cause. Allianz Global Investors Diversity, Equity and Inclusion Report 2022 14

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 02.6 Supporting employee health and wellbeing We have been working to consolidate the wide range of tools and activities on offer at AllianzGI to help colleagues stay mentally and physically healthy. In 2022, we used health and wellbeing intranet stories as an opportunity to systematically remind colleagues about the offers available, which include: Health and Wellbeing hub: Random Coffee: resources on mental, social, and helping colleagues from around the physical wellbeing available via world stay connected, regardless of our intranet. where they are. Global Health Talks: Employee Assistance Programme online events organised around (EAP): World Health Day in April to discuss free and confidential support for mental health, resilience, and well- employees and their families to being with engaging experts from help them deal with personal or outside and inside Allianz. work-related problems that might adversely impact their health, mental and emotional wellbeing or work performance. Mindfulness sessions: opportunities to explore mindfulness techniques for wellbeing, emotion regulation, focus and attention organised by the Allianz Global Mindfulness Community. Allianz Global Investors Diversity, Equity and Inclusion Report 2022 15

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 03 Workforce Attracting and developing talent Our reputation for inclusion strengthens our brand as an employer and enables us to attract, retain and engage the most talented employees, develop skills for the long term and achieve gender balance at senior levels. A diverse workforce furthermore helps us to understand and meet the needs of the diverse customers and communities we serve. Since we announced our first gender equality ambitions in 2017, the diversity of our workforce has been improving through actions that span the entire employee cycle. We are consolidating on this by systematically applying a DEI lens to all our recruitment, talent management and reward practices. Allianz Global Investors Diversity, Equity and Inclusion Report 2022 1616

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 03.1 Enhancing women’s representation at all levels of the organization1 In line with Allianz Group’s targets, we have committed to achieve a minimum global female representation of 30% 2 in senior leadership positions. To achieve improved female representation, our gender equality Female representation at senior Global workforce by gender and corporate titles action plan spans all seniority levels with levels vs. 2021 Managing 74% targeted focus on specific functions and Director 26% locations where more action is needed. +3% 72% The action plan covers talent attraction, Director 28% hiring, compensation benchmarking and Overall Managing 58% supporting development opportunities Directors population Vice President 42% for women. Assistant 58% +7% Vice President 42% Since 2020, we reached a 50/50 male- Managing Directors Staff3 49% female representation in our Executive 5% Committee. A number of our most senior within Distribution global leadership positions are now Total 58% occupied by women. They include the +4.5% employee 42% Global Head of Investments, Global Managing Directors in APAC CIO Equities, Global COO, and Head of Male Female Products. We are not yet where we would like to be at management levels below this and will make a special effort to address this moving forwards. 1 Due to restrictive jurisdiction on data privacy in the majority of the countries we operate in, our metrics are limited to gender diversity. 2 Senior leadership positions equal ExCo and Managing Directors positions. 3 Staff refers to entry-level corporate title. Allianz Global Investors Diversity, Equity and Inclusion Report 2022 17

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 1 03.1 Enhancing women’s representation at all levels of the organization Investment Distribution Managing 87% Managing 65% Director 13% Director 35% Director 77% Director 73% 23% 27% Vice President 69% Vice President 51% 31% 49% Assistant 68% Assistant 34% Vice President 33% Vice President 66% Staff2 35% Staff2 29% 65% 71% Total 68% Total 52% employee 32% employee 48% Enabling Functions Managing 64% Director 36% Director 63% 37% Vice President 57% 43% Assistant 50% Vice President 50% Staff2 44% 56% Total 54% employee 46% Male Female 1 Due to restrictive jurisdiction on data privacy in the majority of the countries we operate in, our metrics are limited to gender diversity. 2 Staff refers to entry-level corporate title. Allianz Global Investors Diversity, Equity and Inclusion Report 2022 18

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 1 03.1 Enhancing women’s representation at all levels of the organization Asia Pacific Europe United States Managing 57% Managing 78% Managing 75% Director 43% Director 22% Director 25% 55% Director 76% Director 73% Director 45% 24% 27% Vice President 49% Vice President 62% Vice President 59% 51% 38% 42% Assistant 35% Assistant 54% Assistant 69% Vice President 65% Vice President 46% Vice President 31% 28% 2 43% 2 42% Staff2 72% Staff 57% Staff 58% Total 44% Total 63% Total 63% employee 56% employee 37% employee 37% Male Female 1 Due to restrictive jurisdiction on data privacy in the majority of the countries we operate in, our metrics are limited to gender diversity. 2 Staff refers to entry-level corporate title. Allianz Global Investors Diversity, Equity and Inclusion Report 2022 19

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 03.2 Ensuring fair and equal pay for everyone Our compensation principles underscore our commitment to an inclusive environment and equal pay. We understand equal pay is essential to It matters to our business. We provide our business because: an appropriate level of compensation to attract and retain our employees who It matters to our clients. Our clients we need to deliver long-term sustainable expect us to reflect their values and returns for our clients and shareholder. priorities in how we invest and operate. As a sustainable business, we are • We engage third-party consultants to committed to fair and inclusive analyse employee pay and identify pay decisions, as part of our social potential pay gaps using statistical and economic responsibility for our regression analysis as a standard employees, clients and communities. undertaking in the yearly compensation review process. It matters to our employees. We want • We support unbiased compensation employees to have visibility into how pay proposals by: is managed and governed at AllianzGl, – Basing pay decisions on objective but also confidence that pay decisions reasons and not taking into account are consistent and free from bias. protected characteristics. It matters to our leaders. We are – Regularly discussing individual pay at committed to ensuring employees across local level with managers along with the globe are rewarded in a way that market references where available. is free from discrimination on the basis – Conducting yearly functional reviews of our own commitment to inclusion to support fair pay decisions. and diversity. Allianz Global Investors Diversity, Equity and Inclusion Report 2022 20

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 03.3 Talking about financial wellbeing during International Women’s Day We used International Women’s The pension income of women in Germany Day 2022 as an opportunity is a full 46% below that of men, making Germany last in the OECD comparison to raise awareness of topics 3 Our colleague on gender pension gap. around financial wellbeing. Michaela Sommer, Asset/Life Specialist from Munich, dealt intensively with 1 According to research by McKinsey , an this topic through a project, and held unprecedented amount of assets will shift a webinar for all colleagues in Germany into the hands of women over the next to educate on understanding and three to five years. reducing gender pension gap in Germany. 2 I manage my financial wellbeing by starting However, a recent BNY Mellon study shows that women are less likely to invest, to save as early as possible and I always save compounding financial disadvantages at least 30% of my income. It is important to and limiting women’s collective influence stay disciplined on the budget and I would on corporate behaviour and the world. never spend more than I earn. I keep enhancing As part of the initiative, we asked my investment knowledge through reading colleagues to share their personal and discussions and seek for investment perspective on #financialwellbeing and how they got started taking a opportunities whenever they are available.” more structured approach towards their finances. Rima Suhaimi President Director, Head of Indonesia Distribution 1 https://www.mckinsey.com/industries/financial-services/our-insights/women-as-the-next-wave-of-growth-in-us-wealth-management 2 https://www.bnymellonim.com/uk/en/individual/inclusive-investment/ 3 https://www.oecd.org/germany/PAG2019-DEU.pdf Allianz Global Investors Diversity, Equity and Inclusion Report 2022 21

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 03.3 Talking about financial wellbeing during International Women’s Day Financial planning for our retirement might not be our favourite hobby, however, the still existing inequalities should make us think twice. In Germany we have one of the largest “gender pension gaps” according to the OECD (2020) My mom is my role model. and the average retirement income of women She always had this is 40% lower than for men. This issue is close to intrapreneurial mindset: my heart: raising awareness to colleagues and having her day job while friends, no matter whether male or female, that also being able to run so it’s a wise step to plan and to put some serious many different businesses thoughts into their personal retirement plan.” on the side. I just grew up with that and thought it is Michaela Sommer (She/Her/Hers) a given, but the older I got, Director, Corporate Pensions Solutions Germany the more I learned that money and savings don’t come naturally.” Aminata Diakite (She/Her/Hers) Product Strategist Allianz Global Investors Diversity, Equity and Inclusion Report 2022 22

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 03.4 Fostering education and networking with 100 Women in Finance Asia Pacific marked the beginning of our partnership with 100 Women in Finance, Fintech Association of Hong Kong, Singapore Fintech Association and Fintech Association of Malaysia by launching the Women Leaders in Fintech APAC series. Being part of the 100 Women in FinTech Visibility committee, I am always inspired and continue The first virtual event featured iconic to learn from the fintech literacy panel and role- women founders of fintech start-ups in the region. modelling events shared by the senior executives and experts in the fintech industry. Through In Europe, members of the 100 Women in this connection, I can get access to a global Finance network attended a Networking fintech network of 200+ women (co)-founded Breakfast organized by the UK Embassy in Paris which focussed on ways we can entrepreneurs, VC investors and corporate leaders build and maintain gender equity in globally and motivate the next generation of financial services. female talent.” Wendy Wong (She/Her/Hers) Program Manager, Digital Business Allianz Global Investors Diversity, Equity and Inclusion Report 2022 23

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 03.5 Empowering talent across all ages and backgrounds For our UK internship programme, we partnered with Sponsors for Educational Opportunity, Ltd. (SEO London), This experience has provided me with a a UK-registered charity wealth of knowledge and insight into the delivering superior educational, asset management sector, as well as a clear training, and mentoring direction for my future career. Moving to London support to young people from appeared intimidating at first, but I am pleased underrepresented backgrounds. I did as it has provided me with an amazing Through targeted actions such as this experience and introduced me to many one we encourage young people to join wonderful individuals.” the investment industry and enhance the diversity of thought and backgrounds Abdullah Shah (He/His/Him) across our interns’ community. Management intern, Investment Business Allianz Global Investors Diversity, Equity and Inclusion Report 2022 24

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 03.5 Empowering talent across all ages and backgrounds Being a mentee in the NEO Mentoring Circles has been an enriching experience both on a professional and personal side. When starting working for AllianzGI fresh from University, it was great to have experienced There are many passionate and dedicated colleagues within AllianzGI working colleagues providing guidance in challenging towards integrating I&D within our company culture, however there is still lots times, career advices and helping me build to be done. Recognising this need to do more, the Women in Private Markets a professional network. I enjoyed the quality (WIPM) initiative was formally created in 2022 and aims to create awareness of time spent with them, their kindness and the issues that lead to the lack of diversity of our people within Private Markets, the way they inspired me on a daily basis as well as serve as a network for the female professionals in Private Markets to throughout the past years.” seek support and advice from both within and outside the firm. That said, the WIPM network is open to all Private Markets professionals, regardless of gender, Gaëlle Allet, CFA, CAIA (She/Her/Hers) and can serve as an education platform for I&D topics, available to everyone who Product Specialist, Private Markets wishes to learn more. There is still much to be done but I’m glad that there has been good reception of WIPM thus far, and that even if it is through baby steps, we’re showing progress!” Wee Kii Teh (She/Her/Hers) Associate Portfolio Manager, Private Markets Allianz Global Investors Diversity, Equity and Inclusion Report 2022 25

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 03.5 Empowering talent across all ages and backgrounds I have had the great privilege of being included in Financial News’ annual ‘Most Influential Women in European Finance’ list on a number of occasions. Every year I look through these and other similar lists and always feel inspired when I read about the achievements of the other women I see there. I am incredibly passionate about the topic of female empowerment, and strongly believe that actively sharing our stories and successes, as well as speaking openly about our challenges, is one very powerful way we can help encourage more women into financial services and leadership positions.” Deborah Zurkow (She/Her/Hers) Global Head of Investments Allianz Global Investors Diversity, Equity and Inclusion Report 2022 26

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 03.6 Supporting colleagues across all gender identities and sexual orientations LGBT+ people deserve to be seen and valued for who they are in the workplace. The challenge is that gender identity and sexual orientation are invisible aspects of our identity. We really cannot know someone’s gender identity or sexual orientation unless they It is very important to me that members of the make it clear, and assumptions can be hurtful and traumatic. LGBT+ community feel safe and supported and We are consolidating actions to provide become an emblem for LGBT+ inclusion are able to be their genuine selves at work. a diverse and inclusive environment for and acts as the Ambassador for Inclusion To further underline this commitment, I am LGBT+ colleagues and clients of AllianzGI. at the German Football Association. delighted that AllianzGI is taking part in the newly As well as raising awareness on LGBT+ Thomas shared his experience with created LGBT+ mentoring programme across the terminology and language, we provided colleagues and talked about why he a one-hour interactive webinar with our thinks inclusion and equal rights for whole of Allianz.” trans colleague Sarah Girling from Allianz members of the LGBT+ community Technology, to talk about transgender are important. John Bolton (He/His/Him) identity, the challenges trans people Head of Content Management experience and the support they need. Last but not least, to further support colleagues who want to be an ally to the We were also delighted to host a talk LGBT+ community as well as to create a We’re also incredibly proud to share that our colleague Zero Yiu in our Frankfurt office with Thomas safe space for colleagues on their own was listed as one of LGBT Great’s Top 100 Gamechangers 2022. Hitzlsperger as part of our Pride 2022 personal coming out journey, we now offer celebrations. Thomas is the only (male) all colleagues the opportunity to join a professional football player in Germany global Allianz LGBT+ mentoring program. to come out as gay. Since then, he has Allianz Global Investors Diversity, Equity and Inclusion Report 2022 27

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 03.7 Listening to employee views: Pride Survey 2022 saw our second Pride Survey, during which 324 AllianzGI’s commitment for each and every LGBT+ person in the company to feel valued, respected and to be able colleagues shared their to be themselves is truly lived on a daily basis. sentiments on LGBT+ inclusion in AllianzGI, giving feedback on our efforts and where we Strongly agree 29% could do better. Thanks to their participation, we identified Agree 49% strengths and areas for I was deeply impressed and enlightened by improvement. Neither agree 18% the webinar on transgender identity. It gave nor disagree me insights on what major social limitations Results were overall positive with most participants feeling well educated still exist, how strongly personal actions are on inclusion and diversity topics and Disagree 3% based on normative behaviour and how appreciating AllianzGI’s commitment strong the discrimination still is. Despite to building an inclusive workplace. We also identified areas for improvement Strongly disagree 1% the fact that the topic has clearly gained such as feeling able to speak up about importance, the reflection and description LGBT+ topics, normalising the topic of of the speaker of her everyday effort made sexual orientation in the workplace and it very clear that there is still a long way to providing more guidance on how to be an LGBT+ ally. go to achieve broad social acceptance.” 78% Henning Schneider, CFA (He/His/Him) Strongly agree or agree Institutional Clients, Business Development Germany Allianz Global Investors Diversity, Equity and Inclusion Report 2022 28

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 03.8 Supporting people of all origins For Black History Month, the Allianz Global Race and Cultural Ethnicity network (GRACE) went “Black to the Future” to highlight the future for people of black heritage in an internal event hosted and organised by our colleague, Richard Butler, who is passionate about working on a better future for everyone and promoted GRACE as a great way to get involved in your local entities. Being active in promoting and collaborating with people of black heritage to realign and level the playing field, while also highlighting an often- overlooked community, we can all play a part in the advancement of the black community. How about taking a moment to have a dialogue with those around you and ask directly how they can be supported?” Richard Butler (He/His/Him) Portfolio Analyst Allianz Global Investors Diversity, Equity and Inclusion Report 2022 29

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 03.9 Building understanding around disability Whether visible or invisible, a disability often implies having different needs from others, but then who doesn’t. It is NORMAL to be DIFFERENT and that is the slogan of Beyond, the Allianz wide employee network focusing on disability inclusion, The Allianz Beyond network is one of several co-sponsored by our CEO Tobias Pross. networks within the framework of DEI at Allianz. To re-state our commitment to welcoming Together with the Business Disability It offers great support to colleagues with and developing people with disabilities, Forum, Tobias also hosted a global disabilities and their allies, and also promotes we held an in-person event with Tobias webinar on “Disability, language and and makes more visible the skills and talents on International Day of Persons with terminology” to help bust disability of people with disabilities. Let’s continue the Disabilities during which he shared why stereotypes and misconceptions and the topic matters to him and why we provide guidance on how to be a better exchange and learn from each other!” cannot be serious about DEI if we do not ally for people with disabilities. address disability diversity and inclusion. Axel Bitzer (He/His/Him) Head of Department Telesales, Allianz Trade We don’t have to be experts – we need to be curious. The first step to being inclusive is being willing to learn about and understand each other. That starts with open dialogue.” Tobias Pross (He/His/Him) AllianzGI CEO Allianz Global Investors Diversity, Equity and Inclusion Report 2022 30

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 04 Marketplace Broadening our social impact We can play a significant role in supporting DEI in society by boosting investment in properties, goods, and companies that promote sustainability and equity. Building on our DEI values to increase our social impact is the third pillar of our DEI approach. We are working to consolidate the way we influence and engage with external stakeholders on DEI issues. This pillar of our strategy is at an early stage and one we aim to expand in the years to come. Allianz Global Investors Diversity, Equity and Inclusion Report 2022 3131

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 04.1 Promoting gender diversity We are a member of the French investor group of the 30% Club1, a global campaign aiming to increase gender diversity on boards and executive teams. The purpose of the 30% Club France Investor Group is to engage with SBF120 companies on gender diversity to drive systemic change on company boards and within senior management teams and to develop best practices and recommendations to make SBF120 companies more inclusive, diverse and sustainable. In 2022, AllianzGI chaired the investor We also continued to engage with a coalition, joining all corporate French reinsurance company on gender engagements including 18 in-person diversity due to the disconnect between meetings and conversations via email. the percentage of women in the workforce We engaged with a French defence and and at management/executive positions. aerospace company on their diversity We appreciated the transparency and strategy and how they are planning to the openness to address our concerns achieve gender equity and reduce the and observed a slight but real shift with gender pay gap. In one year, the company respect to meritocracy and looking to the made great steps towards its diversity strengths and competences brought about trajectory, committed to realistic and by cognitive diversity, ie, the presence of credible targets, and reaffirmed the broadly diverse perspectives of mind. objective of the firm to be in line with 30% Club France vision. In particular, the company has a very proactive approach to close the gender pay gap, which stood as a best practice. 1 https://30percentclub.org/france-investor-group/ Allianz Global Investors Diversity, Equity and Inclusion Report 2022 32

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 04.2 Supporting communities with the apprenticeship tax in France The apprenticeship tax in France helps finance the development of apprenticeships and technological and vocational education. It is the only tax that companies can freely allocate. In 2022, in line with our DEI policy, AllianzGI allocated 44% of its contribution (2021: 26%) to institutions working for causes that meet our objectives as a responsible investor: • Support for the professional integration I like to say Inclusion is a value shaping the of young people without diplomas; • Training for young people with way we think and behave. Behaving inclusively disabilities; and might come naturally to some and might • Home training for sick children. require conscious efforts to others. At AllianzGI We are keen to support internal and we are committed to consciously look for big external initiatives that reflect our DEI and small opportunities to bring Inclusion and commitments and will continue to monitor Diversity to life on a daily basis. Since a few the distribution of this tax in the future. years ago, we’ve for example reconsidered the way we allocate the apprenticeship tax in France to make it more inclusive and contribute to make education more accessible to people with disabilities.” Ilaria Ruzzi (She/Her/Hers) HR Lead France Allianz Global Investors Diversity, Equity and Inclusion Report 2022 33

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 04.3 Making our industry more inclusive and diverse The European CFO Forum for Asset Management published its first white paper on disclosure of Diversity and Inclusion (D&I) Metrics in the asset management industry. As stakeholders’ appetite for D&I information continues to grow, the paper discusses the current state of D&I We want to challenge disclosure and highlights today’s best ourselves on how we can do practices in the industry. Markus Kobler, better. If any colleague comes AllianzGI CFO was one of the lead authors of the paper which can be into their place of work and downloaded here. feels they can’t be their true self, the goal of inclusion and diversity has not been reached yet.” Markus Kobler (He/His/Him) AllianzGI CFO Allianz Global Investors Diversity, Equity and Inclusion Report 2022 34

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 04.4 Empowering women in tech HerHackathon is an online hackathon event designed for women, by women to close the gender bias in the design and development of products. Too many products carry a gender bias as they are mainly developed by men. HerHackathon tries to shift the perspective and counter underrepresentation of women in tech. For the second year in a row, AllianzGI partnered with HerHackathon, to bring young female IT professionals together to develop solutions for problems posed by partnering companies. The catch: they only have 72 hours. Four teams went for our challenge with members of the AllianzGI team mentoring them. The winning team – “Run the code” – proposed an application which would allow users to import their existing portfolios and banking data into one app, I was very impressed by giving them an overview of their financials the creative solutions the and ensuring strong data protection. Their proposal then went up against other participating teams came up favourites from partnering companies and with in such a short amount the winners were chosen. Although Run of time.” the code did not win, AllianzGI was able to source some great ideas and present our company as an attractive employer to Yoana Ivanova female STEM professionals. Business Manager TOP Office Allianz Global Investors Diversity, Equity and Inclusion Report 2022 35

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 05 Next steps Planning actions for next year We know we have more work to do. Ensuring inclusion has no endpoint, yet each step advances us toward achieving our DEI commitments. In 2023 and beyond, we will continue to be open and honest about our work and the progress we are making to pave the way towards a more inclusive fair and healthy company for all. Allianz Global Investors Diversity, Equity and Inclusion Report 2022 3636

01 Introduction 02 Workplace 03 Workforce 04 Marketplace 05 Next steps 05.1 What next? In 2023, we’re planning to reinforce our collaboration with business heads to work on specific DEI functional action plans to ensure a deeper integration of DEI in our company value chain. We will also keep building a workplace qualitative data from our employees to that allows for a healthier work-life discern their perceptions, experiences integration by promoting a culture of and expectations and draw up concrete flex work and raising awareness on roadmaps to drive greater work major health challenges, prioritizing experiences for all and push the needle psychological safety by raising awareness even further towards true equality. on persisting challenges faced by under- represented groups at work as well as More than ever, employees are looking reinforcing training on our zero-tolerance for meaningful purpose in their careers. policy towards discrimination and And more than ever we stay committed harassment and growing the diversity to create equitable practices that of our workforce at senior levels, while foster inclusion. holding managers accountable for driving progress. We also aim at improving the way we collate quantitative and Allianz Global Investors Diversity, Equity and Inclusion Report 2022 37

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