Three statements are followed by three conclusions numbered I, II and III. Assuming the statements to be true even if they do not conform to real-world knowledge, decide which of the conclusion(s) logically follows/follow from the statements.

Statements:
1. All managers are employees.
2. All seniors are managers.
3. Some seniors are pensioners.

Conclusions:
I. Some pensioners are employees.
II. Some employees are pensioners.
III. All employees are seniors.