Managing conflicts of interest in relation to stewardship As a fiduciary to our clients, we have a duty at AllianzGI to act in our clients’ long-term best interests, and to never put the firm in a position where its own interests conflict with its duty to its clients, or where its duty to one client results in an irreconcilable conflict with its duty to other clients. AllianzGI has a regulatory duty to manage conflicts of interests fairly, both between itself and its clients and between different clients. Stewardship of our clients’ assets requires diligence in monitoring and identifying potential conflicts of interest, whether they are internal or external in nature. To ensure proper stewardship in our clients’ best interests, AllianzGI has implemented Global Corporate Governance Guidelines ( documents: allianzgi.com ), policies and procedures, and employee training designed to prevent perceived or actual conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. Examples of potential conflicts include (but are not limited to): 1. AllianzGI is owned by Allianz SE, a global insurance and financial group whose interests and views on particular matters may not always align with those AllianzGI considers best for our clients. To address the potential conflicts that could arise based on our relationship with our parent company, AllianzGI has imposed strict controls and information barriers designed to insulate our decision-making process from improper influence and to ensure that we are able to carry out our investment decisions and stewardship activities in a manner consistent with the interests of our clients. 2. The core business of AllianzGI is investment management - managing money and assets for our clients. Where a clients’ fund holds securities in a sponsor company, a perceived conflict of interest may arise if we exercised the proxy vote or engaged in topics on behalf of our client which may impact our own commercial interests or arrangements. This potential conflict will be mitigated by ceding the ultimate decision making on how and whether to engage with issuers or vote proxies to our investment platform which is intentionally insulated from our other business functions to ensure that such decisions are based solely on the interests of our clients. 3. AllianzGI may from time to time have clients that advocate a voting position with respect to a proxy vote on a company that we view to be inconsistent with the long-term best interests of other clients. To this end, AllianzGI has created a clear separation between the proxy voting and the client relationship functions. 4. We may invest in a company that is also a significant distributor of our products. Other potential conflicts of interest include: – An investee company that is also a client – An investee company where a director, officer or employee of AllianzGI is also a director of that company We have a dedicated governance structure and a set of policies and processes in place for managing conflicts of interest in proxy voting and engagement. An overview of this is provided below. Governance AllianzGI is managed and overseen by the Executive Committee (ExCo). With respect to all investment matters, the responsibility for ensuring our approach is designed to meet our obligations to our clients rests with the Investment Executive Committee (IEC), comprised of the firm’s senior investment leadership. The Compliance and Risk Management functions provide further governance oversight by regularly evaluating our processes and reviewing decisions to ensure that we have taken appropriate actions. The structure and business of AllianzGI are further described at: https://www.allianzgi.com/en/our-firm . AllianzGI Stewardship Statement 6