Allianz Technology Trust PLC · LSE:ATT
Allianz Technology Trust — Investor Presentation (May 2026)
40 slides from Allianz Technology Trust's investor presentation, May 2026
Slide 1: Allianz Technology Trust PLC
Allianz Technology Trust PLC May 2026 This is a marketing communication. Please refer to the Key Information Document (KID) before making any final investment decisions. A ranking, a rating or an award provides no indicator of future performance and is not constant over time. Mike Seidenberg, Lead P
Slide 2: Agenda
Agenda 01 02 03 Overview & Investment Process, Performance & Technology Growth Drivers Team Positioning 2
Slide 3: Overview & Investment Team
01 Overview & Investment Team3
Slide 4: Allianz Technology Trust: Capitalising on technology expertise
Allianz Technology Trust: Capitalising on technology expertise “We believe investing in technology investments is more of a “winner’s game” than a “loser’s game.” Opportunities within a rapidly changing technology landscape can be identified by stockpicking, augmented by our use of Grassroots Resear
Slide 5: The Voya IM Team managing Allianz Technology Trust
The Voya IM Team managing Allianz Technology Trust (“ATT”) ▪ The portfolio management team employs a collaborative investment management process with each team member offering complementary skills to enhance the decision-making process. Mike Seidenberg Erik Swords Justin Sumner, CFA Danny Su John Co
Slide 6: The Voya IM San Francisco Technology teams
The Voya IM San Francisco Technology teams The San Francisco technology teams have decades of experience covering the technology sector Investment team Strategies managed Assets Under Total Assets Management Allianz Technology Trust Allianz Technology £1.9 billion Global Technology Trust Michael Sei
Slide 7: Process, Performance & Positioning
02 Process, Performance & Positioning 7
Slide 8: Technology has driven significant value creation over time
Technology has driven significant value creation over time Trailing P/E Ratio of S&P 500 and Technology Sector Cumulative Returns of the S&P 500 and Technology Sector S&P 500 Index 4,500 S&P 500 Index 70.0x S&P 500 Information Technology Index S&P 500 Information Technology Index 4,000 60.0x 3,500 5
Slide 9: Magnificent 7 stock dominance has been moderating
Magnificent 7 stock dominance has been moderating The overall market return has been increasingly more balanced rather than led by a handful of mega-cap names Cumulative returns Magnificent 7 Dow Jones World Technology 70 63.4 60 50 40 34.6 30 20 10 0 -10 -20 -30 -40 Jan-25 Jun-25 Jul-25 Jan-26 Mar-
Slide 10: Strong long-term performance of ATT
Strong long-term performance of ATT 1450 1250 1050 % Indexed 850 650 450 250 50 May 16 Nov 16 May 17 Nov 17 May 18 Nov 18 May 19 Nov 19 May 20 Nov 20 May 22 May 21 Nov 21 Nov 22 May 23 Nov 23 May 24 Nov 24 May 25 Nov 25 May 26 Allianz Technology Trust (NAV) Benchmark FTSE ALL SHARE - TOT RETURN IND
Slide 11: Allianz Technology Trust: Investment process
Allianz Technology Trust: Investment process Investment universe Global technology stocks Identify major trends via internal research, Idea generation conferences, company management, sell-side and Grassroots® Pinpoint attractive companies with sustained Stock selection earnings growth, market leade
Slide 12: Micron Technology (MU): Research Depth Creates Conviction
Micron Technology (MU): Research Depth Creates Conviction Why Micron Matters: One of three global scaled DRAM manufacturers alongside Samsung and SK Hynix, providing critical supply of memory and storage technologies enabling AI infrastructure, cloud computing and data centers, led by High Bandwidth
Slide 13: Top 10 holdings
Top 10 holdings Allianz Technology Trust vs. Dow Jones World Technology Index As of 31 May 2026 Absolute Relative Portfolio Benchmark Relative Portfolio Benchmark Relative Security name Industry Security name Industry % % % % % % Micron Technology, NVIDIA Corporation 8.6 13.0 -4.4 Semiconductors 6.8
Slide 14: The portfolio has greater exposure to large and mid cap stocks
The portfolio has greater exposure to large and mid cap stocks ▪ High growth companies tend to be smaller sized companies ▪ We believe the higher growth companies in the portfolio are well-positioned to deliver robust long-term growth 70 61.9 60 Allianz Technology Trust Dow Jones World Technology 50
Slide 15: Portfolio characteristics relative to the benchmark
Portfolio characteristics relative to the benchmark Allianz Technology Trust vs. Dow Jones World Technology Index As of 31 May 2026 Portfolio Benchmark Number of Holdings 46 1,075 ▪ Concentrated, actively managed technology portfolio Dividend Yield (%) 0.3 0.6 Weighted Average Market Cap (bn) £1,184
Slide 16: Technology Growth Drivers
03 Technology Growth Drivers 16
Slide 17: Technology stocks have delivered strong performance
Technology stocks have delivered strong performance Dow Jones World Technology Index (GBP) 6400 6000 5600 5200 4800 4400 4000 3600 3200 2800 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Source: Bloomberg, showing daily
Slide 18: Technology lifecycle adjusted in different market environments
Technology lifecycle adjusted in different market environments Emerging Growth High-Growth Innovators Reasonable Valuation to Growth Attractively valued with optionality Decline (0%) (30-50%) (40-80%) (10-30%) (0%) Technology Lifecycle ▪ Strong, profitable and established businesses with a mix of gr
Slide 19: We invest in innovation across key technology areas
We invest in innovation across key technology areas Allianz Technology Trust is diversified across multiple innovative secular growth themes AI Infrastructure (Hardware) 2.4% 6.2% 20.5% Future Mobility, Robotics & Autonomous Systems 8.6% Cybersecurity 10.6% Frontier: Quantum Computing & Defense/Spac
Slide 20: Global IT Spending Trends Survey
Global IT Spending Trends Survey Key technology areas in the next 5 years What technologies may have the greatest impact on in the next five years? 55 Artificial Intelligence | Gen AI 55 41 30 41 Sep-25 (%) CyberSecurity 48 40 40 Feb-24 (%) 21 Automation Technologies 24 25 22 May-23 (%) 23 Internet
Slide 21: AI data center spending could reach $1 trillion+ by 2030
AI data center spending could reach $1 trillion+ by 2030 $1,000 + $1,000 ▪ Estimates for annual AI data The "$1 Trillion AI Factory" era; widespread edge-to-core AI center spending show a $900 $870 massive acceleration starting Replacement cycle of first-generation GenAI hardware in 2023, driven by
Slide 22: Cyber security secular growth expectations
Cyber security secular growth expectations The cyber security expected to grow at a double-digit compound rate for multiple years 350 10.1 300 33.3 9.7 30.7 9.4 250 28.1 9.1 25.5 8.6 200 23.1 160.7 8.3 144.5 8.0 21.3 129.2 150 20.0 114.5 98.7 86.7 75.4 100 111.9 119.5 50 95.2 103.8 77.1 85.2 70.2 0
Slide 23: Semiconductor demand continues to accelerate
Semiconductor demand continues to accelerate We expect we are at the start of the next upcycle, which could last through 2027 40% 30% 20% 10% 0% -10% -20% -30% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (E) 2027 (E) Source: BofA Global Research, BofA Global Tech Conf. Preview:
Slide 24: Growth in the cryptocurrency usage is accelerating
Growth in the cryptocurrency usage is accelerating Wide applications across the blockchain and cryptocurrency ecosystem Digital Asset Adoption Emerging Finance Blockchain business Solutions Source: https://hellosergio.medium.com/6-emerging-categories-for-blockchain-use-cases-4650f824d130 and Voya In
Slide 25: Quantum computing excitement is rapidly increasing
Quantum computing excitement is rapidly increasing Accelerating quantum milestones are driving investor attention Classical Computing Quantum Computing Calculates with transistors, which represent Calculates with qubits, which can represent Calculation another a 0 or 1 0 and 1 at the same time Power
Slide 26: Stock Example Broadcom (AVGO)
Stock Example Broadcom (AVGO) Broadcom Inc. is a technology leader that designs, develops, and supplies a broad range of semiconductor, enterprise software, and security solutions Broadcom investment thesis: ▪ Diversified semiconductor with a recent focus on software company ▪ CEO is a top tier oper
Slide 27: Stock Example Cloudflare (NET)
Stock Example Cloudflare (NET) Cloudflare places cloud servers closer to customers and is designed to make everything you connect to the Internet secure, private, fast, and reliable, protecting corporate networks, employees, and devices. Cloudflare investment thesis: ▪ Cloudflare’s global edge netwo
Slide 28: Strategy designed to perform
Strategy designed to perform Multi-pronged Traditional stock selection is driven by boots on the ground expertise in investment identification Silicon Valley, complemented by Grassroots® Research Our approach seeks to mitigate “blow-up” risk by aiming to buy market Risk-focused process leaders where
Slide 29: Appendix
Appendix 29
Slide 30: Industry weights
Industry weights Allianz Technology Trust vs. Dow Jones World Technology Index As of 31 May 2026 Industry weightings (%) Allianz Technology Trust Dow Jones World Technology Semiconductors 44.6 44.1 Technology Hardware 16.4 18.0 Interactive Media & Services 11.4 14.9 Software 11.3 16.4 IT Services 6.
Slide 31: Country weights
Country weights Allianz Technology Trust vs. Dow Jones World Technology Index As of 31 May 2026 Country weightings (%) Country revenue exposure (%) Allianz Technology Trust Dow Jones World Technology Allianz Technology Trust Dow Jones World Technology 87.4 44.7 United States United States 79.0 44.4
Slide 32: Stock selection has been favourable
Stock selection has been favourable 1 year industry attribution: Allianz Technology Trust vs. Dow Jones World Technology Bench. Bench. Port. Average Port. Total Port. Contrib. Bench. Total Allocation Selection Average Contrib. To Total Effect Weight Return To Return Return Effect Effect Weight Retur
Slide 33: Stock selection in large caps a key driver of outperformance
Stock selection in large caps a key driver of outperformance 1 year market cap attribution: Allianz Technology Trust vs. Dow Jones World Technology Bench. Bench. Port. Average Port. Total Port. Contrib. Bench. Total Allocation Selection Average Contrib. To Total Effect Weight Return To Return Return
Slide 34: Top 10 contributors have meaningfully outpaced detractors
Top 10 contributors have meaningfully outpaced detractors 1 year security attribution: Allianz Technology Trust vs. Dow Jones World Technology Bench. Bench. Port. Average Port. Total Port. Contrib. Bench. Total Average Contrib. To Total Effect Weight Return To Return Return Weight Return Total 100.0
Slide 35: Grassroots Research: Providing New Perspectives
Grassroots Research : Providing New Perspectives ® Grassroots Research® studies answer Grassroots Research® specific questions about key stock and industry drivers and seeks to identify ▪ Industry contacts inflection points in business trends ▪ Grassroots® ▪ Consumers ▪ Collaborative in-house study
Slide 36: A Holistic Approach to ESG Integration
A Holistic Approach to Environmental, Social & Governance (ESG) Integration Voya Investment Management’s symbiotic interaction of quantitative, fundamental and stewardship teams all working together in the service of generating alpha (excess return versus benchmark) Engages in meaningful dialogue wi
Slide 37: Why and How Do We Integrate ESG?
Why and How Do We Integrate Environmental, Social & Governance (ESG)? Voya’s equity ESG integration is about alpha (excess return to benchmark). ▪ ESG factors can help identify risks and opportunities to a company’s business model that should be taken into consideration in the investment process. Vo
Slide 38: Our ESG Journey: From Unstructured to Integrated
Our ESG Journey: From Unstructured to Integrated ESG issues were always part of our mosaic Our journey led us to build a systematic approach to approach, but in an unstructured, non-systematic incorporating ESG factors into investment decisions. way. Sector Fundamental sector-based materiality lens
Slide 39: Disclaimer
Disclaimer This is no recommendation or solicitation to buy or sell any particular security. Any security mentioned above will not necessarily be comprised in the portfolio by the time this document is disclosed or at any other subsequent date. Investing involves risk. Past performance does not pred
Slide 40: Allianz Global Investors
Allianz @ Global Investors
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