Bayern Munich took the lead in the International Champions Cup tie against the Gunners in Shanghai courtesy of a penalty converted by Robert Lewandowski inside 10 minutes.
However, in a match that looked in some patches like it might end in a landslide victory for Carlo Ancelotti's men, it was Arsenal who scored a last-minute goal through Alex Iwobi, before winning the contest on penalties.
In the fourth minute of stoppage time, an Arsenal counter-attack, following a mistake by Bayern's Renato Sanches, resulted in Aaron Ramsey swinging a ball in from the left flank that was nodded into the bottom corner by the 21-year-old forward.
After 90 minutes, the game went straight to penalties. Sanches's troubles worsened as he missed his spot-kick, as did David Alaba and Juan Bernat, enabling Arsenal to win the contest 3-2 thanks to strikes from Ramsey, Nacho Monreal and the Gunners' ultimate hero Iwobi.
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