Personalized Annuity Hypothetical Illustrations. Allianz MasterDex X Annuity. Prepared For Valued Client. Prepared On January 15, :22

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1 Prepared For d Client Prepared On January 5, 205 2:22 Prepared By Stan The Annuity Man PO Box 2225 Ponte Vedra Beach, Florida, Allianz Life Insurance Company of North America Personalized Annuity Hypothetical Illustrations Allianz MasterDex X Annuity C52575-FL Contents About Your Illustrations 2 Definition and Key Terms 3-4 Guaranteed s 5 Hypothetical s Most Recent 0-calendar year period 6 Hypothetical Comparison of Historical Periods 7 Annuitization Report 5 Index Information Report 6 Allianz Life Insurance Company of North America 570 Golden Hills Drive, Minneapolis, MN MFIX-045

2 Prepared For d Client Prepared By Stan The Annuity Man PO Box 2225 Ponte Vedra Beach, Florida, Prepared On /5/205 Customer Profile Owner Male, age 55 Premium $00,000 Plan Type Non-Qualified Income Benefit Simple Income III - Single Income Start Payout Type Income Option Issued In Florida On the next few pages, you ll find examples of how changes in an external index could affect the values and benefits of Allianz MasterDex X Annuity over a period of years. We Allianz Life Insurance Company of North America, or Allianz for short have prepared these illustrations along with your financial professional, to help you decide whether the Allianz MasterDex X Annuity is appropriate for you. The ratings Allianz receives from independent rating organizations confirm our financial strength. These independent agency ratings are based on an analysis of financial results and an evaluation of management objectives and strategies. The ratings do not indicate approval by the analysts and are subject to change. Organization Rating Rank Affirmed A.M. Best A (Excellent) 3 of 6 July 204 Standard & Poor s AA (Very strong) 3 of 2 February 204 Moody s A2 ( Good) 6 of 2 March 204 Thank you for considering Allianz MasterDex X Annuity. The Allianz MasterDex X Annuity is a limited flexible premium deferred fixed index annuity with a 4% premium bonus. An annuity is an insurance contract between a contract owner and a life insurance company. A fixed index annuity earns interest based on changes in an external index. Contract values may be affected by an external index (or indexes); however, this contract does not directly participate in any stocks, bonds, or equity investments. You do not own any shares of an index fund or any equity or bond investments. The indexes do not include the dividends paid on the stocks underlying a stock index. Stock dividends are not reflected in the interest we credit to your contract. It is not possible to invest directly in an index. The value of a fixed index annuity will not drop below a guaranteed minimum value specified in the contract. Product availability and features may vary, and some features may not be available in all states. Guarantees are backed by the financial strength and claimspaying ability of Allianz Life Insurance Company of North America (Allianz, we, us, our). The purchase of an annuity is an important financial decision. You should have a full discussion with your Allianz agent before making any decision. This is a hypothetical illustration, and not a contract. The purpose of this illustration is to demonstrate how index performance may affect Contract s over an extended period of time. This illustration is not intended to serve as a projection or prediction of future values, and the values shown are not guaranteed (unless specified as guaranteed). Hypothetical values are calculated based on actual historical performance of the selected indexes, assuming the Allianz MasterDex X Annuity had been available at that time - which it was not. Hypothetical values assume the index will repeat historical performance and that the current caps, spreads, annual fixed rate, and annuity payout rate will not change. It is likely that the index will not repeat historical performance and that the current caps, spreads, annual fixed rate, and annuity payout rate will change. Actual values may be higher or lower than the hypothetical values shown, but will not be less than the guaranteed values shown. Please review the Statement of Understanding furnished to you with this illustration and the Buyer s Guide provided at the time of purchase of this annuity contract for more information. s shown are not guaranteed (unless specified as guaranteed values). Caps, spreads, MFIX-045 Rev (02/204) Page 2 of 6

3 Definition and Key Terms At issue, the equals the Initial Premium plus its Premium Bonus and is allocated among allocation options according to the percentages you chose at application. If you pay Additional Premium, that premium and the Premium Bonus, will be allocated to the interim interest allocation on the day the premium is received and on the next contract anniversary it will be moved to the fixed/indexed interest allocations according to your allocation percentages. The will increase by any interest you earn. It will decrease by any Partial Surrenders you take and any rider charges we deduct. Applicable Select Index Allocation charges will decrease your Contract s dollar-fordollar. The full is available as a lump-sum payment at the end of the tenth Contract. The full is also available with an annuity payout over a period as short as 0 years at any time after the fifth Contract. If you surrender your Contract before the end of the tenth Contract, or choose an annuity payout before the end of the fifth Contract or over a period less than 0 years, you will receive the Cash Surrender. Adjusted Premium At issue, the Adjusted Premium is equal to the Initial Premium. The Adjusted Premium is increased by Additional Premium on the following Contract Anniversary but does not include Premium Bonus(s). All withdrawals and partial surrenders including required minimum distributions or other penalty-free withdrawals - will reduce the Adjusted Premium by the same percentage that the was reduced as a result of the withdrawals or partial surrender. Cash Surrender The Cash Surrender is the minus any applicable surrender charge and unvested Premium Bonus. The surrender charge applies during the first 0 Contract s and may result in the loss of some or all of your Premium Bonus, previously credited interest, and a partial loss of principal. The Cash Surrender will never be less than the Guaranteed Minimum. Guaranteed Minimum The Guaranteed Minimum is equal to 87.50% of premium paid less any partial surrenders, accumulated at no less than.75% for premiums allocated to the index allocations and no less than.75% for premiums allocated to the interest allocation for Contract s -0 and no less than.00% for premiums allocated to the index allocations and no less than.00% for premiums allocated to the interest allocation for Contract s and beyond. The Guaranteed Minimum is the minimum value this Contract will provide as the Cash Surrender, the Death Benefit, and, on the Annuity Date, the. Death Benefit The Death Benefit is equal to the greater of the, the cumulative withdrawal amount, the net premium or the Guaranteed Minimum. Your beneficiary(ies) can elect to receive a lump-sum payment or annuity payments over the course of five years (or longer). Participation Rate The participation rate determines how much of the percentage of index growth for an index we use to calculate any indexed interest we credit to your Contract. The participation rate is 00% and is guaranteed for the life of the Contract. The percentage of index growth allowed by your participation rate will still be subject to the cap(s) and/or the spread(s) for your selected index(es) and crediting methods. Caps A cap is a preset limit that we use to calculate the interest rate for an index allocation with some crediting methods. With some annual point-to-point crediting options, we apply an annual cap. If the annual change exceeds the annual cap, the interest rate is equal to the annual cap percentage. With monthly sum crediting, we apply a monthly cap. If the monthly change exceeds the monthly cap, the monthly cap percentage is used for that month to calculate the interest rate. Positive monthly changes are subject to a monthly cap, or maximum; however, negative changes are not limited by the cap. Annual Spread An annual spread is a preset deduction that we use with some crediting methods to calculate the interest rate. We subtract a spread from the change to determine the interest rate. Annual caps, monthly caps, and annual spreads for the first Contract are established when you purchase your Contract. On each Contract Anniversary we may change these caps and spreads for the coming Contract. Annual caps will never be less than 0.25%. Monthly caps will never be less than 0.5%. Annual spreads will never be more than 2%. Premium Bonus We will credit a 4% Premium Bonus to the on all premiums you pay in the first three Contract s. None of this bonus is vested during the first Contract. On each of the first ten Contract Anniversaries, 0% of the Premium Bonus will become vested until 00% is vested at the beginning of the th Contract. During the first 0 Contract s, we will apply a surrender charge and unvested bonus reduction if you partially or fully surrender your Contract. The same would apply if you begin Annuitization, which means receiving regular income payments over a specified period of time, prior to the sixth Contract (or for fewer than 0 years). These charges may result in a loss of bonus, indexed interest and fixed interest, and a partial loss of principal (your premium). Bonus annuities may include higher surrender charges, longer surrender charge periods, lower caps, higher spreads, or other restrictions that are not included in similar annuities that don t offer a Premium Bonus feature. Your initial allocations are as follows: Percent Allocated Current Cap/ Spread/Rate S&P 500 Monthly Sum with a cap 0%.0% S&P 500 Annual Point to Point with 0%.50% a cap Nasdaq-00 Monthly Sum with a 0%.0% cap Nasdaq-00 Annual Point to Point 0%.50% with a cap Blended Annual Point to Point with a 0%.50% cap Blended Monthly Average with a 0% 5.00% spread EuroSTOXX 50 Monthly Sum with a 0%.20% cap EuroSTOXX 50 Annual Point to 0%.75% Point with a cap Fixed Interest 20% 0.80% Prepared For d Client s shown are not guaranteed (unless specified as guaranteed values). Caps, spreads, MFIX-045 Rev (02/204) Page 3 of 6

4 Simple Income Benefit Simple Income III Rider, R With the Simple Income III Rider, you can receive Simple Withdrawals based on your Simple Withdrawal for the rest of your life, even if your is completely exhausted. Once your initial annual Maximum Simple Withdrawal has been established, it will never be reduced unless you take a partial surrender that is not penalty-free. The annual cost for the Simple Income III Rider is 95 basis points (0.95 %) of the Simple Withdrawal. We calculate the annual rider charge on each Contract Anniversary, and will deduct /2th of the annual rider charge from your and your Guaranteed Minimum on each Monthly Anniversary for the life of your contract, or until the youngest person on whose age the Simple Withdrawals could be based is over age 90, or until your is depleted, whichever comes first. Simple Withdrawal At issue, the Simple Withdrawal is equal to your. After issue, the Simple Withdrawal will be increased at the end of each year by the Simple Bonus. The Simple Bonus at the end of each year is equal to the Simple Bonus Percentage of 8% multiplied by the Adjusted Premium, and will be credited each contract year until you begin taking income payments or until the youngest person on whose age Simple Withdrawals could be based is over age 90. All withdrawals and partial surrenders including required minimum distributions or other penalty-free withdrawals will reduce the Simple Withdrawal by the same percentage that the was decreased as a result of the withdrawal or partial surrender. Simple Bonus The Simple Bonus is calculated at the end of each contract year and is equal to the Adjusted Premium multiplied by the Simple Bonus Percentage. Simple Withdrawal Increase On any Contract Anniversary, if the is greater than the Simple Withdrawal, the Simple Withdrawal will be increased to equal the. Maximum Simple Withdrawal increases After you begin Simple Withdrawals, if you took the Maximum Simple Withdrawal during the previous contract year, the Maximum Simple Withdrawal may increase depending on the payout option chosen. Cumulative Withdrawal If you elect to receive less than the Maximum Simple Withdrawal amount available to you, the amount not taken will be added to the Cumulative Withdrawal. After you take the Maximum Simple Withdrawal in a contract year, you may take Cumulative Withdrawals for any amount up to the Cumulative Withdrawal with no surrender charges. The initial annual Maximum Simple Withdrawal The initial annual Maximum Simple Withdrawal is a percentage of the Simple Withdrawal. The applicable percentage is based on the payout option you chose and the age of the person on whose life the payments are based, as follows: Option Option2 Age Single Payment Joint Payment % 3.00% % 3.50% % 4.00% % 4.50% Simple Withdrawal percentages for Option 3 are declared at the beginning of each contract year until you begin simple withdrawals, and will not be less than 2%. The simple withdrawal percentages will be shown on your annual statement. Once you begin simple withdrawals, your simple withdrawal percentage will never change. This table shows the current rates in effect on the Prepared On date and are not guaranteed. Option3 Age Single Payment Joint Payment % 3.25% % 3.75% % 4.25% % 4.75% Based on younger age. Option On any contract anniversary, if the current Simple Withdrawal multiplied by the original Simple Withdrawal Percentage is greater than the current Maximum Simple Withdrawal, the Maximum Simple Withdrawal will be increased to the higher amount. Option 2 On any contract anniversary, if we calculated a positive Interest Rate for any allocation at the end of the previous Contract, any portion of the Maximum Simple Withdrawal linked to that allocation during that Contract will increase by that interest rate. Option 3 The amount of potential increase is capped at 0% per year. On any CPI-U anniversary, if the locked-in CPI-U value for that CPI-U anniversary is greater than the highest preceding locked-in CPI-U value, the new maximum simple withdrawal will equal the Maximum Simple Withdrawal for the previous contract year multiplied by the locked-in CPI-U value for the CPIU anniversary divided by the highest preceding locked-in CPI- U value. The maximum simple withdrawal may increase only during the first 20 contract years after the simple withdrawal start date. Thereafter, the maximum simple withdrawal will not increase and will remain level as long as simple withdrawals continue. Age Single Payment Joint Payment % 4.00% % 4.50% % 5.00% % 5.50% Prepared For d Client s shown are not guaranteed (unless specified as guaranteed values). Caps, spreads, MFIX-045 Rev (02/204) Page 4 of 6

5 Guaranteed s Here s how the Allianz MasterDex X Annuity might look over a 30-year period. The values show what would happen if the indexed allocations earn zero indexed interest and the fixed allocation earns the minimum annual fixed rate of 0.0% in all years. This illustration includes the 4% Premium Bonus. Example: Guaranteed s Age Net Premiums Interest Rate 2 Cash Surrender Guaranteed Minimum 3 Simple Withdrawal Beginning of Annual Income Withdrawal 0 55 $00, $0 0.02% $03,033 $89,489 $88,034 $2,000 $ $0 0.02% $0,989 $88,90 $88,500 $20,000 $ $0 0.02% $00,870 $89,488 $88,898 $28,000 $ $0 0.02% $99,674 $89,978 $89,227 $36,000 $ $0 0.02% $98,40 $90,376 $89,484 $44,000 $ $0 0.02% $97,053 $90,680 $89,669 $52,000 $ $0 0.02% $95,628 $90,887 $89,780 $60,000 $ $0 0.02% $94,27 $90,994 $89,87 $68,000 $ $0 0.02% $92,550 $90,998 $89,778 $76,000 $ $0 0.02% $90,897 $90,897 $89,66 $84,000 $ $0 0.02% $79,965 $79,965 $79,508 $9, $0 0.02% $69,208 $69,208 $69,432 $9, $0 0.02% $58,630 $58,630 $59,436 $9, $0 0.02% $48,234 $48,234 $49,527 $9, $0 0.02% $38,025 $38,025 $39,708 $9, $0 0.02% $28,009 $28,009 $29,986 $9, $0 0.02% $8,89 $8,89 $20,367 $9, $0 0.02% $8,572 $8,572 $0,858 $9, $0 0.02% $0 $0 $,467 $9, $0 0.02% $0 $0 $0 $9, $0 0.02% $0 $0 $0 $9, $0 0.02% $0 $0 $0 $9, $0 0.02% $0 $0 $0 $9, $0 0.02% $0 $0 $0 $9, $0 0.02% $0 $0 $0 $9, $0 0.02% $0 $0 $0 $9, $0 0.02% $0 $0 $0 $9, $0 0.02% $0 $0 $0 $9, $0 0.02% $0 $0 $0 $9, $0 0.02% $0 $0 $0 $9,200 $00,000 $84,000 Represents premium paid minus withdrawal(s) for each Contract before Lifetime Income Withdrawals begin. 2 Reflects the combined results of any indexed interest rates and/or annual fixed rate credited to each Contract based on your selected allocation percentages. 3 You would receive your Contract s Guaranteed Minimum only if it were higher than your Contract s Cash Surrender. Prepared For d Client s shown are not guaranteed (unless specified as guaranteed values). Caps, spreads, MFIX-045 Rev (02/204) Page 5 of 6

6 Hypothetical s Most Recent 0-calendar year period Here s how the Allianz MasterDex X Annuity might look over a 30-year period. The values show what would happen if the indexed allocations earned indexed interest using current caps and/or spreads, and the fixed allocation earned the current annual fixed rate in all years. The indexed interest is based on actual index performance during the most recent 0-calendar year period for the first 0 years. In all later years, we repeat the index performance from the first 0-year period. This illustration includes the 4% Premium Bonus. Age Net Premiums Interest Rate 2 Cash Surrender Guaranteed Minimum 3 Simple Withdrawal Beginning of Annual Income Withdrawal 0 55 $00, $0 0.8% $03,850 $90,225 $88,034 $2,000 $ $0.83% $04,668 $9,32 $88,500 $20,000 $ $0 0.79% $04,343 $92,658 $88,898 $28,000 $ $0 0.6% $03,29 $93,325 $89,227 $36,000 $ $0 0.79% $02,808 $94,507 $89,484 $44,000 $ $0 0.62% $02,066 $95,443 $89,669 $52,000 $ $0 0.39% $0,03 $96,070 $89,780 $60,000 $ $0 0.8% $00,295 $97,008 $89,87 $68,000 $ $0 2.4% $0,085 $99,426 $89,778 $76,000 $ $0 0.83% $00,242 $00,242 $89,66 $84,000 $ $0 0.83% $90,035 $90,035 $79,508 $9, $0.85% $80,74 $80,74 $69,45 $9, $0 0.80% $70,652 $70,652 $59,384 $9, $0 0.6% $60,284 $60,284 $49,47 $9, $0 0.8% $50,390 $50,390 $39,54 $9, $0 0.63% $40,54 $40,54 $29,682 $9, $0 0.39% $30,674 $30,674 $9,922 $9, $0 0.82% $2,057 $2,057 $0,237 $9, $0 2.42% $,723 $,723 $634 $9, $0 0.85% $2,3 $2,3 $0 $9, $0 0.84% $0 $0 $0 $9, $0.87% $0 $0 $0 $9, $0 0.82% $0 $0 $0 $9, $0 0.6% $0 $0 $0 $9, $0 0.82% $0 $0 $0 $9, $0 0.64% $0 $0 $0 $9, $0 0.39% $0 $0 $0 $9, $0 0.82% $0 $0 $0 $9, $0 2.47% $0 $0 $0 $9, $0 0.86% $0 $0 $0 $9,200 $00,000 $84,000 Represents premium paid minus withdrawal(s) for each Contract before Lifetime Income Withdrawals begin. 2 Reflects the combined results of any indexed interest rates and/or annual fixed rate credited to each Contract based on your selected allocation percentages. 3 You would receive your Contract s Guaranteed Minimum only if it were higher than your Contract s Cash Surrender. See Guaranteed s Ledger for guaranteed values. Prepared For d Client s shown are not guaranteed (unless specified as guaranteed values). Caps, spreads, MFIX-045 Rev (02/204) Page 6 of 6

7 Hypothetical Comparison of Historical Periods S&P 500 Annual Point to Point with a cap Annual Cap:.50% Allocation: 0% Here s how the Allianz MasterDex X Annuity might have looked over 3 different 0-year periods. The values show what would happen if the stated index earned indexed interest using current cap for the periods indicated. This illustration includes the 4% Premium Bonus Illustration: High period, Low period, Most recent period High Period Low Period Most Recent Period Annualized Rate:.05% Annualized Rate: 0.90% Annualized Rate:.20% 2/3/995.50% $0,456 2/3/999.50% $0,456 2/3/ % $0,456 2/3/996.50% $0,507 2/3/ % $0,349 2/3/ % $0,504 2/3/997.50% $0,55 2/3/ % $0,234 2/3/ % $0,545 2/3/998.50% $0,588 2/3/ % $0,3 2/3/ % $0,423 2/3/999.50% $0,68 2/3/ % $0,34 2/3/ % $0,447 2/3/ % $0,482 2/3/ % $0,49 2/3/200.50% $0,463 2/3/ % $0,340 2/3/ % $0,55 2/3/ % $0,35 2/3/ % $0,90 2/3/ % $0,53 2/3/202.50% $0,32 2/3/ % $0,84 2/3/ % $0,43 2/3/203.50% $0,300 2/3/ % $0,70 2/3/ % $9,974 2/3/204.50% $0,282 Annualized Rate does not reflect any rider or contract charges. End of 0 $0,70 $9,974 $0,282 $9,07 Reflects the results of any indexed interest credited to the portion of the allocated to this option. Prepared For d Client s shown are not guaranteed (unless specified as guaranteed values). Caps, spreads, MFIX-045 Rev (02/204) Page 7 of 6

8 Hypothetical Comparison of Historical Periods S&P 500 Monthly Sum with a cap Monthly Cap:.0% Allocation: 0% Here s how the Allianz MasterDex X Annuity might have looked over 3 different 0-year periods. The values show what would happen if the stated index earned indexed interest using current cap for the periods indicated. This illustration includes the 4% Premium Bonus Illustration: High period, Low period, Most recent period High Period Low Period Most Recent Period Annualized Rate:.84% Annualized Rate:.8% Annualized Rate:.32% 2/3/ % $,380 2/3/ % $0,30 2/3/ % $0,30 2/3/ % $,569 2/3/ % $0,96 2/3/ % $0,835 2/3/ % $,446 2/3/ % $0,083 2/3/ % $0,77 2/3/ % $,36 2/3/ % $9,963 2/3/ % $0,592 2/3/ % $,80 2/3/ % $0,92 2/3/ % $0,460 2/3/ % $,038 2/3/ % $0,269 2/3/ % $0,32 2/3/ % $0,888 2/3/ % $0,24 2/3/ % $0,75 2/3/ % $0,730 2/3/ % $0,598 2/3/ % $0,022 2/3/ % $0,946 2/3/ % $0,43 2/3/ % $0,49 2/3/ % $0,999 2/3/ % $0,257 2/3/ % $0,408 Annualized Rate does not reflect any rider or contract charges. End of 0 $0,999 $0,257 $0,408 $9,07 Reflects the results of any indexed interest credited to the portion of the allocated to this option. Prepared For d Client s shown are not guaranteed (unless specified as guaranteed values). Caps, spreads, MFIX-045 Rev (02/204) Page 8 of 6

9 Hypothetical Comparison of Historical Periods Nasdaq 00 Annual Point to Point with a cap Annual Cap:.50% Allocation: 0% Here s how the Allianz MasterDex X Annuity might have looked over 3 different 0-year periods. The values show what would happen if the stated index earned indexed interest using current cap for the periods indicated. This illustration includes the 4% Premium Bonus Illustration: High period, Low period, Most recent period High Period Low Period Most Recent Period Annualized Rate:.05% Annualized Rate: 0.90% Annualized Rate:.35% 2/3/995.50% $0,456 2/3/ % $0,30 2/3/ % $0,454 2/3/996.50% $0,507 2/3/ % $0,96 2/3/ % $0,502 2/3/997.50% $0,55 2/3/ % $0,083 2/3/ % $0,544 2/3/998.50% $0,588 2/3/ % $0,3 2/3/ % $0,42 2/3/999.50% $0,68 2/3/ % $0,34 2/3/ % $0,445 2/3/ % $0,482 2/3/ % $0,47 2/3/200.50% $0,46 2/3/ % $0,340 2/3/ % $0,54 2/3/20.50% $0,468 2/3/ % $0,90 2/3/ % $0,52 2/3/202.50% $0,465 2/3/ % $0,84 2/3/ % $9,992 2/3/203.50% $0,453 2/3/ % $0,70 2/3/ % $9,973 2/3/204.50% $0,435 Annualized Rate does not reflect any rider or contract charges. End of 0 $0,70 $9,973 $0,435 $9,07 Reflects the results of any indexed interest credited to the portion of the allocated to this option. Prepared For d Client s shown are not guaranteed (unless specified as guaranteed values). Caps, spreads, MFIX-045 Rev (02/204) Page 9 of 6

10 Hypothetical Comparison of Historical Periods Nasdaq 00 Monthly Sum with a cap Monthly Cap:.0% Allocation: 0% Here s how the Allianz MasterDex X Annuity might have looked over 3 different 0-year periods. The values show what would happen if the stated index earned indexed interest using current cap for the periods indicated. This illustration includes the 4% Premium Bonus Illustration: High period, Low period, Most recent period High Period Low Period Most Recent Period Annualized Rate:.26% Annualized Rate: 0.63% Annualized Rate: 0.70% 2/3/ % $0,958 2/3/ % $0,30 2/3/ % $0,30 2/3/ % $0,848 2/3/ % $0,96 2/3/ % $0,96 2/3/ % $0,733 2/3/ % $0,083 2/3/ % $0,085 2/3/ % $0,6 2/3/ % $0,63 2/3/ % $9,967 2/3/ % $0,484 2/3/ % $0,479 2/3/ % $9,843 2/3/ % $0,350 2/3/ % $0,339 2/3/ % $9,72 2/3/ % $0,209 2/3/ % $0,93 2/3/ % $9,575 2/3/ % $0,062 2/3/ % $0,040 2/3/ % $9,43 2/3/ % $0,553 2/3/ % $9,882 2/3/ % $9,950 2/3/ % $0,384 2/3/ % $9,77 2/3/ % $9,785 Annualized Rate does not reflect any rider or contract charges. End of 0 $0,384 $9,77 $9,785 $9,07 Reflects the results of any indexed interest credited to the portion of the allocated to this option. Prepared For d Client s shown are not guaranteed (unless specified as guaranteed values). Caps, spreads, MFIX-045 Rev (02/204) Page 0 of 6

11 Hypothetical Comparison of Historical Periods Blended Index Annual Point to Point with a cap Annual Cap:.50% Allocation: 0% Here s how the Allianz MasterDex X Annuity might have looked over 3 different 0-year periods. The values show what would happen if the stated index earned indexed interest using current cap for the periods indicated. This illustration includes the 4% Premium Bonus Illustration: High period, Low period, Most recent period High Period Low Period Most Recent Period Annualized Rate:.4% Annualized Rate: 0.99% Annualized Rate:.27% 2/3/995.50% $0,456 2/3/999.50% $0,456 2/3/ % $0,456 2/3/996.50% $0,507 2/3/ % $0,447 2/3/ % $0,504 2/3/997.50% $0,55 2/3/ % $0,332 2/3/ % $0,545 2/3/998.50% $0,588 2/3/ % $0,209 2/3/ % $0,423 2/3/999.50% $0,68 2/3/ % $0,23 2/3/ % $0,447 2/3/ % $0,582 2/3/ % $0,245 2/3/200.50% $0,463 2/3/ % $0,438 2/3/ % $0,252 2/3/ % $0,389 2/3/ % $0,287 2/3/ % $0,250 2/3/202.50% $0,387 2/3/ % $0,28 2/3/ % $0,240 2/3/203.50% $0,375 2/3/ % $0,267 2/3/ % $0,069 2/3/204.50% $0,356 Annualized Rate does not reflect any rider or contract charges. End of 0 $0,267 $0,069 $0,356 $9,07 Reflects the results of any indexed interest credited to the portion of the allocated to this option. Prepared For d Client s shown are not guaranteed (unless specified as guaranteed values). Caps, spreads, MFIX-045 Rev (02/204) Page of 6

12 Hypothetical Comparison of Historical Periods Blended Index Monthly Average with a spread Spread: 5.00% Allocation: 0% Here s how the Allianz MasterDex X Annuity might have looked over 3 different 0-year periods. The values show what would happen if the stated index earned indexed interest using current spread for the periods indicated. This illustration includes the 4% Premium Bonus Illustration: High period, Low period, Most recent period High Period Low Period Most Recent Period Annualized Rate: 2.53% Annualized Rate: 0.4% Annualized Rate: 0.35% 2/3/ % $,076 2/3/ % $0,603 2/3/ % $0,30 2/3/ % $,245 2/3/ % $0,494 2/3/ % $0,235 2/3/ % $2,05 2/3/ % $0,378 2/3/ % $0,24 2/3/ % $2,342 2/3/ % $0,255 2/3/ % $0,006 2/3/ % $2,55 2/3/ % $0,206 2/3/ % $9,88 2/3/ % $2,39 2/3/ % $0,069 2/3/ % $9,749 2/3/ % $2,222 2/3/ % $9,927 2/3/ % $9,6 2/3/ % $2,045 2/3/ % $9,86 2/3/ % $9,47 2/3/ % $,954 2/3/ % $9,66 2/3/ % $9,62 2/3/ % $,762 2/3/ % $9,500 2/3/ % $9,453 Annualized Rate does not reflect any rider or contract charges. End of 0 $,762 $9,500 $9,453 $9,07 Reflects the results of any indexed interest credited to the portion of the allocated to this option. Prepared For d Client s shown are not guaranteed (unless specified as guaranteed values). Caps, spreads, MFIX-045 Rev (02/204) Page 2 of 6

13 Hypothetical Comparison of Historical Periods EuroSTOXX 50 Annual Point to Point with a cap Annual Cap:.75% Allocation: 0% Here s how the Allianz MasterDex X Annuity might have looked over 3 different 0-year periods. The values show what would happen if the stated index earned indexed interest using current cap for the periods indicated. This illustration includes the 4% Premium Bonus Illustration: High period, Low period, Most recent period High Period Low Period Most Recent Period Annualized Rate:.22% Annualized Rate:.05% Annualized Rate:.7% 2/3/996.75% $0,482 2/3/ % $0,30 2/3/ % $0,482 2/3/997.75% $0,559 2/3/ % $0,96 2/3/ % $0,556 2/3/998.75% $0,629 2/3/ % $0,259 2/3/ % $0,624 2/3/999.75% $0,693 2/3/ % $0,35 2/3/ % $0,500 2/3/ % $0,564 2/3/ % $0,363 2/3/ % $0,550 2/3/ % $0,429 2/3/ % $0,403 2/3/ % $0,40 2/3/ % $0,288 2/3/ % $0,435 2/3/ % $0,263 2/3/ % $0,36 2/3/ % $0,279 2/3/202.75% $0,285 2/3/ % $0,335 2/3/ % $0,294 2/3/203.75% $0,299 2/3/ % $0,347 2/3/ % $0,22 2/3/204.20% $0,25 Annualized Rate does not reflect any rider or contract charges. End of 0 $0,347 $0,22 $0,25 $9,07 Reflects the results of any indexed interest credited to the portion of the allocated to this option. Prepared For d Client s shown are not guaranteed (unless specified as guaranteed values). Caps, spreads, MFIX-045 Rev (02/204) Page 3 of 6

14 Hypothetical Comparison of Historical Periods EuroSTOXX 50 Monthly Sum with a cap Monthly Cap:.20% Allocation: 0% Here s how the Allianz MasterDex X Annuity might have looked over 3 different 0-year periods. The values show what would happen if the stated index earned indexed interest using current cap for the periods indicated. This illustration includes the 4% Premium Bonus Illustration: High period, Low period, Most recent period High Period Low Period Most Recent Period Annualized Rate: 0.26% Annualized Rate: 0.4% Annualized Rate: 0.4% 2/3/ % $0,537 2/3/ % $0,30 2/3/ % $0,332 2/3/ % $0,432 2/3/ % $0,96 2/3/ % $0,67 2/3/ % $0,32 2/3/ % $0,083 2/3/ % $0,50 2/3/ % $0,204 2/3/ % $9,963 2/3/ % $0,379 2/3/ % $0,08 2/3/ % $9,866 2/3/ % $0,249 2/3/ % $9,953 2/3/ % $0,06 2/3/ % $0,3 2/3/ % $9,87 2/3/ % $9,963 2/3/ % $9,970 2/3/ % $9,675 2/3/ % $9,84 2/3/ % $9,820 2/3/ % $9,526 2/3/ % $9,659 2/3/ % $9,664 2/3/ % $9,40 2/3/ % $9,498 2/3/ % $9,504 Annualized Rate does not reflect any rider or contract charges. End of 0 $9,40 $9,498 $9,504 $9,07 Reflects the results of any indexed interest credited to the portion of the allocated to this option. Prepared For d Client s shown are not guaranteed (unless specified as guaranteed values). Caps, spreads, MFIX-045 Rev (02/204) Page 4 of 6

15 Annuitization Report The annuity purchase rates shown below are based on the annuitant s age and gender, as well as the specified annuity option, and payment frequency. Annuitant Annuitant Gender d Client Male Annuitant Age 70 Maximum Annuity Age 00 Annuity Option Payment Frequency Guaranteed s Single Life with Period Certain 0 s Monthly Annuitized $48,234 Guaranteed Annuity Purchase Rate 5.28 Annuity Payment $255 Hypothetical s Annuitized $60,284 Guaranteed Annuity Purchase Rate 5.28 Annuity Payment $38 The Guaranteed Annuity Purchase Rates are per $,000 of annuitized value under the options selected above. Annuitized The annuitized value depends on your selected annuity date and annuity option: If you begin annuity payments on or after the fifth contract anniversary and you select a standard annuity option, we will calculate annuity payments using the accumulation value. Standard annuity options (guaranteed period, life, life with a guaranteed period, selected amount, and joint and survivor) are described in the attached Disclosure Document. If you begin annuity payments on or after the first contract anniversary and you select the guaranteed period annuity option, we will calculate annuity payments using the accumulation value. If the annuitant is old enough, you may be able to choose a guaranteed period of less than 0 years. Otherwise, we will calculate annuity payments using the cash surrender value. Annuity Options When you are ready to annuitize your contract, you can choose to receive annuity payments in any of the following ways. Interest only You have the option to receive interest-only annuity payments for 0 years. Interest will be paid as earned based on your then-current annuitization value. After 0 years of taking interest-only payments, you may then take your annuitization value as a lump-sum payment. Installments for a guaranteed period You can choose to receive annuity payments in equal installments for a period from 0 to 30 years. Each installment would consist of part principle and part interest. Installments for life You have the option to receive annuity payments in equal installments for the rest of your life. Payments end upon your death, even if we have paid only one annuity payment at the time you die. Installments for life with a guaranteed period You can choose to receive annuity payments in equal installments for the rest of your life. Upon your death, payments for the balance of the guaranteed period, if any, will be paid to your beneficiary in the same way as they were previously being made. Installments for a selected amount You may select to receive annuity payments in equal installments of an amount that you choose, as long as the payments last for at least 0 years. Payments continue until your annuitization value and interest are gone. Joint and Survivor You can select to have equal installments paid until your death with additional payments to your named survivor. In this case, payments to your named survivor would continue until his or her death at 00% or 2/3 of your original installments, based on your selection. Prepared For d Client s shown are not guaranteed (unless specified as guaranteed values). Caps, spreads, MFIX-045 Rev (02/204) Page 5 of 6

16 Index Information Report Standard & Poor s 500 index (S&P 500 ) is comprised of 500 stocks representing major U.S. industrial sectors. The Dow Jones Industrial Average is a popular indicator of the stock market based on the average closing prices of 30 active U.S. stocks representative of the overall economy. S&P is a registered trademark of Standard &Poor s Financial Services LLC ( S&P ) and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ( Dow Jones ). These trademarks have been licensed for use by S&P Dow Jones Indices LLC. S&P marks are trademarks of S&P and Dow Jones marks are trademarks of Dow Jones. These trademarks have been sublicensed for certain purposes by Allianz Life Insurance Company of North America ( Allianz ). The S&P 500 Index ( the Index ) and Dow Jones Industrial Average SM ( the DJIA ) are products of S&P Dow Jones Indices LLC and/or its affiliates and have been licensed for use by Allianz. Allianz products are not sponsored, endorsed, sold, or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P, or any of their respective affiliates (collectively, S&P Dow Jones Indices ). S&P Dow Jones Indices make no representation or warranty, express or implied, to the owners of the Allianz products or any member of the public regarding the advisability of investments generally or in Allianz products particularly or the ability of the Index and Average to track general market performance. S&P Dow Jones Indices only relationship to Allianz with respect to the Index and Average is the licensing of the Index and Average and certain trademarks, service marks, and/or trade names of S&P Dow Jones Indices and/or its third-party licensors. The Index and Average are determined, composed, and calculated by S&P Dow Jones Indices without regard to Allianz or the products. S&P Dow Jones Indices have no obligation to take the needs of Allianz or the owners of the products into consideration in determining, composing, or calculating the Index and Average. S&P Dow Jones Indices are not responsible for and have not participated in the design, development, pricing, and operation of the products, including the calculation of any interest payments or any other values credited to the products. S&P Dow Jones Indices have no obligation or liability in connection with the administration, marketing, or trading of products. There is no assurance that investment products based on the Index and Average will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC and its subsidiaries are not investment advisors. Inclusion of a security or futures contract within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security or futures contract, nor is it considered to be investment advice. Notwithstanding the foregoing, CME Group Inc. and its affiliates may independently issue and/or sponsor financial products unrelated to products currently being issued by Allianz, but which may be similar to and competitive with Allianz products. In addition, CME Group Inc., an indirect minority owner of S&P Dow Jones Indices LLC, and its affiliates may trade financial products which are linked to the performance of the Index and Average. It is possible that this trading activity will affect the value of the products. S&P DOW JONES INDICES DO NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS, AND/OR THE COMPLETENESS OF THE INDEX AND AVERAGE OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY ALLIANZ, OWNERS OF THE PRODUCTS, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDEX AND AVERAGE OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME, OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBLITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND ALLIANZ OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES. The Nasdaq-00 Index includes 00 of the largest domestic and international non -financial securities listed on The Nasdaq Stock Market, based on capitalization. The Nasdaq-00, Nasdaq-00 Index, Nasdaq, and OMX are registered trade marks of NASDAQ OMX Group, Inc. (which with its affiliates are the Corporations) and are licensed for use by Allianz Life Insurance Company of North America. The product(s) have not been passed on by the Corporations as to their legality or suitability. The product(s) are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S). The Russell 2000 is a trademark of Russell Investments and have been licensed for use by Allianz Life Insurance Company of North America. The product is not sponsored, endorsed, sold or promoted by Russell Investments and Russell Investments makes no representation regarding the advisability of investing in the product. Russell 2000 Index is an equity index that measures the performance of the 2,000 smallest companies in the Russell 3000 Index, which is made up of 3,000 of the biggest U.S. stocks. The Russell 2000 is constructed to provide a comprehensive and unbiased small-cap barometer and is completely reconstituted annually to ensure larger stocks do not affect the performance and characteristics of the true smallcap index. The EURO STOXX 50 Index, Europe's leading blue-chip index for the Eurozone, provides a blue-chip representation of supersector leaders in the Eurozone. The Index covers 50 stocks from 2 Eurozone countries: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain. The EURO STOXX 50 is the intellectual property (including registered trademarks) of STOXX Limited, Zurich, Switzerland. Allianz products based on the Index are in no way sponsored, endorsed, sold, or promoted by STOXX and shall not have any liability with respect thereto. The Barclays Capital U.S. Aggregate Bond Index is comprised of U.S. investmentgrade, fixed-rate bond market securities, including government agency, corporate, and mortgage-backed securities. Allianz products are not sponsored, endorsed, sold, or promoted by Barclays Capital. Barclays Capital makes no representation or warranty, express or implied, to the owners of Allianz products or any member of the public regarding the advisability of investing in securities generally or in Allianz products particularly or the ability of the Barclays Capital Indices, including without limitation, the Barclays Capital U.S. Aggregate Bond Index and Barclays US Dynamic Balance Index, to track general bond market performance. Barclays Capital's only relationship to Allianz Life Insurance Company of North America and its affiliates ( Allianz ) is the licensing of the Barclays Capital U.S. Aggregate Bond Index and Barclays US Dynamic Balance Index which is determined, composed and calculated by Barclays Capital without regard to Allianz or Allianz products. Barclays Capital has no obligation to take the needs of Allianz or the owners of Allianz products into consideration in determining, composing or calculating the Barclays Capital U.S. Aggregate Bond Index and Barclays US Dynamic Balance Index. Barclays Capital is not responsible for and has not participated in the determination of the timing of, prices of, or quantities of Allianz products to be issued or in the determination or calculation of the equation by which Allianz products are to be converted into cash. Barclays Capital has no obligation or liability in connection with the administration, marketing or trading of Allianz products. BARCLAYS CAPITAL DOES NOT GUARANTEE THE QUALITY, ACCURACY AND/OR THE COMPLETENESS OF THE BARCLAYS CAPITAL INDICES, OR ANY DATA INCLUDED THEREIN, OR OTHERWISE OBTAINED BY ALLIANZ, OWNERS OF ALLIANZ PRODUCTS, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE BARCLAYS CAPITAL INDICES, INCLUDING WITHOUT LIMITATION, THE BARCLAYS CAPITAL U.S. AGGREGATE BOND INDEX AND BARCLAYS US DYNAMIC BALANCE INDEX, IN CONNECTION WITH THE RIGHTS LICENSED HEREUNDER OR FOR ANY OTHER USE. BARCLAYS CAPITAL MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE BARCLAYS CAPITAL INDICES, INCLUDING WITHOUT LIMITATION, THE BARCLAYS CAPITAL U.S. AGGREGATE BOND INDEX AND BARCLAYS US DYNAMIC BALANCE INDEX, OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL BARCLAYS CAPITAL HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. Prepared For d Client s shown are not guaranteed (unless specified as guaranteed values). Caps, spreads, MFIX-045 Rev (02/204) Page 6 of 6