Allianz Global Investors

Global Position StatementCluster Munitions and Anti-Personnel Mines

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Allianz Global Investors Global Position Statement

Global Position Statement

This Global Position Statement aims to provide clients with clarity andtransparency on Allianz Global Investors’ approach to investment in firmsinvolved in cluster munitions and anti-personnel mines.

Allianz Global Investors (AllianzGI) acknowledges and supports the principles of the Oslo Convention on Cluster Munitions and the Ottawa Convention on Anti-Personnel Mines. This is a contentious area of potential investment given that the production and use of cluster munitions and land mines have been deemed unacceptable under certain international conventions and even illegal within some jurisdictions because of the severe harm they can inflict on civilians during and after conflicts and the significant long term health and safety effects that they can have on the civilian population.

Within its Environmental, Social and Governance (“ESG”) framework, AllianzGI has processes in place to identify firms that manufacture cluster munitions and anti-personnel mines and all companies delivering components and systems that have been specifically designed or modified to fit for the use of these controversial weapons, which enables AllianzGI to works closely with its fund and separate institutional account clients to ensure that we avoid actively investing in such companies in those funds and accounts that wish to exclude these investments. For

example, AllianzGI has excluded investments in such companies from all retail funds domiciled in Europe, including the funds distributed throughout Europe and Asia Pacific under AllianzGI’s largest fund complex, the Allianz Global Investors Fund, an umbrella fund organized pursuant to the EU UCITS Directive. AllianzGI also offers investment strategies and products specifically designed to avoid and/or prohibit such investments, in order to meet specific client environmental, social and governance preferences and requirements.

Other, non-European domiciled, retail funds to which we serve as an adviser or sub-adviser are operated according to their prospectuses and other fund related documents and are generally not covered by the scope of this Position Statement. Similarly, private funds and separate institutional accounts, which are managed in accordance with their applicable fund documents or the separate mandates or guidelines provided to us, are not covered by the Position Statement. Nevertheless, we are happy and able to manage any mandate that includes such restrictions.

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Allianz Global Investors Global Position Statement

AllianzGI updates the list of restricted companies on a periodic basis and with the support of external research service providers.

This Global Position Statement recognizes differing client needs, regulatory requirements and public perception across jurisdictions and will be reviewed and updated as needed and may change without specific notice.

All portfolio holdings of our mutual funds are typically made public in the funds’ reports and the largest holdings are reported more frequently.

If there are any questions, please contact us via your regular point of contact at AllianzGI or directly at your local AllianzGI office, and we will be happy to answer them.

Additional Information

Contact for matters relating to the Allianz Global Investors Global Position Statement:

Dr. Steffen HoerterGlobal Head of ESGTel: +49 (0)89 1220 7704 Mobile: +49 (0)160 586 3302 Email: steffen.hoerter@allianzgi.com

Allianz Global Investors GmbH Seidlstrasse 24-24a 80335 Munich Germany

www.allianzgi.com

Disclaimer

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 material 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 GmbH, an investment company in Germany, authorized by the German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin); 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]; Allianz Global Investors Korea Ltd., licensed by the Korea Financial Services Commission; and Allianz Global Investors Taiwan Ltd., licensed by Financial Supervisory Commission in Taiwan.

Allianz Global Investors GmbHSeidlstrasse 24-24a 80335 MunichGermany

www. allianzgi.com 17-1

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