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Inclusion and Diversity Policy

Active is: Succeeding as yourself Advancing inclusion and diversity I&D policy Edition 2021 Value. Shared.

Inclusion & Diversity matters to us Our aspiration at AllianzGI is to become a leading global active asset manager. A key element in our success is our workplace culture. Together with Entrepreneurship, Customer Excellence, Collaborative Leadership and Trust, Inclusion and Diversity shape how we work and serve our large and varied client base. At Allianz Global Investors we define Inclusion and Diversity as follows: Inclusion A culture that enables everyone to give their best. Diversity A recognition that difference is an asset to be enhanced and leveraged at all opportunities. Diversity without inclusion and inclusion without diversity are not enough. Both are required to maximize the collective intelligence of our organization and to unlock the potential of all talent. 2



Our commitment to Inclusion & Diversity At AllianzGI we are committed to building an increasingly diverse business and to creating a truly inclusive environment where everyone is welcome and feels able to be themselves regardless of race, religion or belief, ethnic or national origin, colour, nationality, sex, gender identity, gender reassignment, sexual orientation, age, disability, marriage and civil partnership, pregnancy and maternity, political opinions or trade union affiliation. We endeavour to create a transparent organisation that eliminates barriers in order to ensure that all our employees can succeed to the best of their ability. We actively support behaviours that encourage everyone to bring different perspectives to the organization and foster a culture of inclusion. 5

We are all responsible for Inclusion and Diversity Every employee who works at Allianz Global Investors is responsible for behaving in accordance with AllianzGI’s commitment to inclusion and diversity at all times and for co-creating our inclusive culture. Everyone is responsible for making sure that inclusion and diversity are effectively incorporated into decision making and the management of business activities. Company responsibilities Our responsibility as an employer is to offer equal opportunity to all employees and to nurture a work environment free of Harassment, Discrimination, Bullying and other Abusive Conduct of any kind. This applies to all our employment policies and practices, including but not limited to: – Recruitment and selection – Terms and conditions of employment – Training and development – Promotion and career progression – Redundancy and re-deployment – Harassment, disciplinary and grievance procedures – Flexible working 6



At Allianz Global Investors, we state our commitment to zero-tolerance on harassment, discrimination in our Global Anti-Harassment and Anti-Discrimination policy. To actively support inclusion and diversity and to ensure all our employees are valued and treated with respect, Allianz Global Investors will ensure that employees are made aware of firm’s inclusion & diversity approach during their employment in appropriate ways, for instance through day to day management, induction programs, training and development programs, global and regional intranet sites, employee communications. Employees’ responsibilities Every employee is expected to treat everyone with respect and help to create an inclusive environment that is free from discrimination and/or harassment of any kind and where everyone is welcomed, valued, respected, and heard. This includes: – Acting as role models and demonstrating it in daily working activities; – Taking the time to learn about inclusion and diversity topics; – Showing visible support to inclusion and diversity initiatives and being a spokesperson for inclusion and diversity issues that are not necessarily their own. – Speaking up if they notice identity-based assumptions being made about a colleague’s needs, work ambitions and competencies and respond when they hear offensive identity-based jokes; – Welcoming ideas and perspectives that are different from their own; – Treating people in a way they wish to be treated rather than the way you wish to be treated and, most importantly, being respectful always. 9

Leaders’ responsibilities We expect our managers to create and sustain an inclusive working environment where every individual’s unique contribution is valued and recognised by: – Acting as role models and demonstrating it in daily working activities; − Communicating and promoting our inclusion and diversity approach through active engagement, both internally and externally; − Committing to change where necessary and holding others to account; − Addressing any conduct that breaches our Global Anti-Harassment and Anti- Discrimination Policy of which they become aware; − Provide employees with a safe space to voice their ideas and concerns; − Creating an environment of equality. Human Resources responsibilities All HR team members are responsible for ensuring inclusion and diversity is fully embedded in all day-to-day HR processes, policies and procedures. HR will ensure: – Recruitment: fair treatment through the recruitment process, including checking job descriptions are relevant and non-discriminatory and that fair, objective and consistent questions are asked at interview. – Retention, training and promotion: oversight in respect of promotions, career development and training focus on skills, needs and talents rather than assumptions based on age, disability, gender, race, religion or sexual orientation etc. – Ongoing monitoring: all policies and procedures are monitored to ensure equal opportunity. This also includes the monitoring of data to gain an accurate picture of AllianzGI’s global workforce and to identify potential inequalities. Fostering inclusive behaviours and empowering talented colleagues to succeed as they are, is not only the right thing to do, but is integral to how we work, add value for our clients, enhance our brand and grow our business. 10


Allianz Global Investors is a leading active asset manager with over 700 investment professionals in 25 offices worldwide and managing EUR 582 billion in assets for individuals, families and institutions. We see investing as a journey and we seek to create value for our clients every step of the way. We invest for the long term, employing our global investment and risk capabilities and sus- tainable investing expertise to create innovative solutions that anticipate future needs. We believe in solving not selling – our goal is to elevate the investment experience for clients, wherever they are based and whatever their investment objectives. Active is: Allianz Global Investors Data as at 31 December 2020 Investing involves risk. The value of an investment and the income from it will fluctuate and investors may not get back the principal invested. Past performance is not indicative of future performance. This is a marketing communication. It is for informational purposes only. This document does not constitute investment advice or a recommendation to buy, sell or hold any security and shall not be deemed an offer to sell or a solicitation of an offer to buy any security. The views and opinions expressed herein, which are subject to change without notice, are those of the issuer or its affiliated companies at the time of publication. Certain data used are derived from various sources believed to be reliable, but the accuracy or completeness of the data is not guaranteed and no liability is assumed for any direct or consequential losses arising from their use. The duplication, publication, extraction or transmission of the contents, irrespective of the form, is not permitted. This material has not been reviewed by any regulatory authorities. In mainland China, it is used only as supporting material to the offshore investment products offered by commercial banks under the Qualified Domestic Institutional Investors scheme pursuant to applicable rules and regulations. This document does not constitute a public offer by virtue of Act Number 26.831 of the Argentine Republic and General Resolution No. 622/2013 of the NSC. This communication’s sole purpose is to inform and does not under any circumstance constitute promotion or publicity of Allianz Global Investors products and/or services in Colombia or to Colombian residents pursuant to part 4 of Decree 2555 of 2010. This communication does not in any way aim to directly or indirectly initiate the purchase of a product or the provision of a service offered by Allianz Global Investors. Via reception of his document, each resident in Colombia acknowledges and accepts to have contacted Allianz Global Investors via their own initiative and that the communication under no circumstances does not arise from any promotional or marketing activities carried out by Allianz Global Investors. Colombian residents accept that accessing any type of social network page of Allianz Global Investors is done under their own responsibility and initiative and are aware that they may access specific information on the products and services of Allianz Global Investors. This communication is strictly private and confidential and may not be reproduced. This communication does not constitute a public offer of securities in Colombia pursuant to the public offer regulation set forth in Decree 2555 of 2010. This communication and the information provided herein should not be considered a solicitation or an offer by Allianz Global Investors or its affiliates to provide any financial products in Brazil, Panama, Peru, and Uruguay. In Australia, this material is presented by Allianz Global Investors Asia Pacific Limited (“AllianzGI AP”) and is intended for the use of investment consultants and other institutional/professional investors only, and is not directed to the public or individual retail investors. AllianzGI AP is not licensed to provide financial services to retail clients in Australia. AllianzGI AP (Australian Registered Body Number 160 464 200) is exempt from the requirement to hold an Australian Foreign Financial Service License under the Corporations Act 2001 (Cth) pursuant to ASIC Class Order (CO 03/1103) with respect to the provision of financial services to wholesale clients only. AllianzGI AP is licensed and regulated by Hong Kong Securities and Futures Commission under Hong Kong laws, which differ from Australian laws. This document is being distributed by the following Allianz Global Investors companies: Allianz Global Investors U.S. LLC, an investment adviser registered with the U.S. Securities and Exchange Commission; Allianz Global Investors Distributors LLC, distributor registered with FINRA, is affiliated with Allianz Global Investors U.S. LLC; Allianz Global Investors GmbH, an investment company in Germany, authorized by the German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin); Allianz Global Investors (Schweiz) AG; Allianz Global Investors Asia Pacific Ltd., licensed by the Hong Kong Securities and Futures Commission; Allianz Global Investors Singapore Ltd., regulated by the Monetary Authority of Singapore [Company Registration No. 199907169Z]; Allianz Global Investors Japan Co., Ltd., registered in Japan as a Financial Instruments Business Operator [Registered No. The Director of Kanto Local Finance Bureau (Financial Instruments Business Operator), No. 424, Member of Japan Investment Advisers Association and Investment Trust Association, Japan]; and Allianz Global Investors Taiwan Ltd., licensed by Financial Supervisory Commission in Taiwan. © 2021 Allianz Global Investors. | March 2021 Ext. 5648