#1PRUDENTIAL Prudential plc 2022 Half Year Results 10 August 2022#22 Forward-looking statements This presentation may contain 'forward-looking statements' with respect to certain of Prudential's (and its wholly and jointly owned businesses') plans and its goals and expectations relating to its future financial condition, performance, results, strategy and objectives. Statements that are not historical facts, including statements about Prudential's (and its wholly and jointly owned businesses') beliefs and expectations and including, without limitation, statements containing the words 'may', 'will', 'should', 'continue', 'aims', 'estimates', 'projects', 'believes', 'intends', 'expects', 'plans', 'seeks' and 'anticipates', and words of similar meaning, are forward-looking statements. These statements are based on plans, estimates and projections as at the time they are made, and therefore undue reliance should not be placed on them. By their nature, all forward-looking statements involve risk and uncertainty. A number of important factors could cause Prudential's actual future financial condition or performance or other indicated results of the entity referred to in any forward-looking statement to differ materially from those indicated in such forward-looking statement. Such factors include, but are not limited to, current and future market conditions including fluctuations in interest rates and exchange rates, inflation (including interest rate rises as a response), sustained high or low interest rate environments, the performance of financial and credit markets generally and the impact of economic uncertainty, slowdown or contraction, (including as a result of the Russia- Ukraine conflict and related or other geopolitical tensions and conflicts) which may also impact policyholder behaviour and reduce product affordability, asset valuation impacts from the transition to a lower carbon economy, derivative instruments not effectively mitigating any exposures; global political uncertainties, including the potential for increased friction in cross-border trade and the exercise of laws, regulations and executive powers to restrict trade, financial transactions, capital movements and/or investment; the impact of Covid-19 outbreaks, including adverse financial market and liquidity impacts, responses and actions taken by governments, regulators and supervisors, the impact on sales, claims and assumptions and increased product lapses, disruption to Prudential's operations (and those of its suppliers and partners), risks associated with new sales processes and technological and information security risks; the policies and actions of regulatory authorities, including, in particular, the policies and actions of the Hong Kong Insurance Authority, as Prudential's Group-wide supervisor, as well as the degree and pace of regulatory changes and new government initiatives generally; given its designation as an Internationally Active Insurance Group, the impact on Prudential of systemic risk and other group supervision policy standards adopted by the International Association of Insurance Supervisors; the physical, social and financial impacts of climate change and global health crises on Prudential's business and operations; the impact of not adequately responding to environmental, social and governance issues (including not properly considering the interests of Prudential's stakeholders or failing to maintain high standards of corporate governance); the impact of competition and fast-paced technological change; the effect on Prudential's business and results from, in particular, mortality and morbidity trends, lapse rates and policy renewal rates; the timing, impact and other uncertainties of future acquisitions or combinations within relevant industries; the impact of internal transformation projects and other strategic actions failing to meet their objectives or adversely impacting the Group's employees; the availability and effectiveness of reinsurance for Prudential's businesses; the risk that Prudential's operational resilience (or that of its suppliers and partners) may prove to be inadequate, including in relation to operational disruption due to external events; disruption to the availability, confidentiality or integrity of Prudential's information technology, digital systems and data (or those of its suppliers and partners) including the Pulse platform; any ongoing impact on Prudential of the demerger of Jackson Financial Inc.; the increased operational and financial risks and uncertainties associated with operating joint ventures with independent partners, particularly where joint ventures are not controlled by Prudential; the impact of changes in capital, solvency standards, accounting standards or relevant regulatory frameworks, and tax and other legislation and regulations in the jurisdictions in which Prudential and its affiliates operate; and the impact of legal and regulatory actions, investigations and disputes. These and other important factors may, for example, result in changes to assumptions used for determining results of operations or re-estimations of reserves for future policy benefits. Further discussion of these and other important factors that could cause actual future financial condition or performance to differ, possibly materially, from those anticipated in Prudential's forward-looking statements can be found under the 'Risk Factors' heading in Prudential's 2021 Annual Report, the 'Risk Factors' heading in Prudential's 2021 Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission ("SEC"), the 'Risk Factors' heading in Prudential's 2022 Half Year Financial Report and the 'Risk Factors' heading in Prudential's 2022 Half Year Financial Report filed with the SEC on Form 6-K. Prudential's 2021 Annual Report, and related Form 20-F, and 2022 Half Year Financial Report, and related Form 6-K, are available on its website at www.prudentialplc.com. These factors are not exhaustive as Prudential operates in a continually changing business environment with new risks emerging from time to time that it may be unable to predict or that it currently does not expect to have a material adverse effect on its business. Any forward-looking statements contained in this presentation speak only as of the date on which they are made. Prudential expressly disclaims any obligation to update any of the forward-looking statements contained in this presentation or any other forward-looking statements it may make, whether as a result of future events, new information or otherwise except as required pursuant to the UK Prospectus Rules, the UK Listing Rules, the UK Disclosure Guidance and Transparency Rules, the Hong Kong Listing Rules, the SGX-ST Listing Rules or other applicable laws and regulations. Cautionary statements This presentation does not constitute or form part of any offer or invitation to purchase, acquire, subscribe for, sell, dispose of or issue, or any solicitation of any offer to purchase, acquire, subscribe for, sell or dispose of, any securities in any jurisdiction nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, any contract therefor.#3BARREP Mark FitzPatrick Group Chief Executive PRUDENTIAL#4Compelling investment case 4 1 Business model aligned to structural growth drivers 2 Diversification across Asia & Africa 3 Digitally enhanced multi-channel distribution platform 4 Innovative & consumer centric 5 Leading Asia-based asset manager Expect to deliver long-term growth outperformance Sustainable growth in operating capital generation Focus on high return H&P & savings products Growth rates of NBP are expected to substantially exceed GDP growth Funding further profitable compounding growth & high risk-adjusted returns for shareholders Long-term double-digit growth in EV per share#55 1 Significant growth opportunities 2 Diversified platform 3 Digitally enhanced multi-channel model 4 Innovative & consumer centric 5 Leading Asia-based asset manager#66 Growth underpinned by structural demand drivers ~$900bn of additional industry life GWP6 by 2032 in our Asian markets 2.8% Low penetration1 1.8tn Health protection gap² Increase from growth in size of life GWP6 pool 40% Asia contribution to global GDP growth³ +1.5bn Growing middle class4 29 2021 x2 >60 5 2032E Potential increase in Prudential's life GWP6 in Asia ($bn) 1. Source: Swiss Re. Penetration defined as life insurance premiums as a percentage of GDP. 2. Source: Swiss Re - The health protection gap in Asia: A modelled exposure of USD 1.8 trillion. October 2018. Health protection gap defined as the shortfall to adequately finance current and expected health expenditures. 3. Source: IMF. Between 2022 and 2027. Prudential's Asia footprint. 4. Increase in the middle-class population in Asia Pacific between 2020 and 2030. 5. Source: Allianz Global Insurance Report 2022. Estimated by applying Prudential's market share at 31 December 2021 to Allianz's forecast of gross written premiums. 6. GWP Gross written premiums.#71 Significant growth opportunities 2 Diversified platform 3 Digitally enhanced multi-channel model 4 Innovative & consumer centric 5 Leading Asia-based asset manager#88 99 Years in Asia 19.3m Life customers Diversified market leading platform focused on Asia & Africa Top 3 in 11 Asia life markets1 3.9bn Access to population Africa $76m HY22 APE HY22 APE ($m) Greater China 1,015 Southeast Asia India 1,002 120 1. As reported at full year 2021. Sources include formal (e.g. competitors results release, local regulators and insurance association) and informal (industry exchange) market share data. Ranking based on new business (APE sales, weighted full year premium or full year premium depending on availability of data). or total weighted revenue premiums.#99 Chinese Mainland Access to nearly whole of Chinese Mainland >80% GDP & GWP1 Distinct competitive advantages India Indonesia Top 3 life and asset manager Strong market positioning Thailand A leading bancassurance player ICICI PRUDENTIAL LIFE INSURANCE 15% market share² ICICI PRUDENTIAL ASSET MANAGEMENT 12% market share3 #1 Overall market share4 #1 Sharia market share4 tub UOB |||| Upscaling the business significantly through our bank partnerships 1. Source: National Bureau of Statistics and CBIRC. 2. Based on new business sum assured for 31 December 2021. Source: IRDAI. Among private players only. 3. Based on FUM. As at 31 December 2021. 4. As at 31 December 2021. Based on weighted total premiums.#1010 10 Well-positioned to capture Southeast Asia's significant long-term potential Significant growth opportunities Access to population of 670m Fast growing middle-class Low insurance penetration Enhanced platform Top 3 in 8 out of 9 ASEAN markets Growing high quality agency force Expansion of bancassurance platform NBP High quality growth $804m Increasing use of digital Broadening customer segments NBP CAGR $1,249m +12% GDP CAGR +3% FY17 FY21 Size of bubble denotes NBP#1111 1 Significant growth opportunities 2 Diversified platform 3 Digitally enhanced multi-channel model 4 Innovative & consumer centric 5 Leading Asia-based asset manager#1212 Enhancing our agency force Investing for growth At scale >530k Agents Growing scale +5% New recruits Greater productivity +4% Cases per active agent -24% -14% excl. economics Quality c7.0k MDRTS¹ Growing reach 4.8m Leads generated² Improving quality 775 587 +13% HY21 H&P cases HY22 Agency new business profit ($m) Note: Data as of HY21 and growth rates are on a constant exchange rate basis unless otherwise stated 1. Million Dollar Round Table (MDRT). 2. Leads that originate from a digital platform, digital campaign or partner; and other leads, including leads from agents, recorded on digital leads management systems.#1313 Enhancing our bancassurance distribution Investing for growth Strong positioning >170 Bank partners Increasing scale +25% APE growth Increasing reach 22 New bank partnerships Reach >27k Access to bank branches Balanced mix 47% H&P case contribution Improving quality 10 Markets with double -digit NBP growth Note: Data as of HY21 and growth rates are on a constant exchange rate basis unless otherwise stated. +31% +26% excl. economics 354 463 HY21 HY22 Bancassurance new business profit ($m)#1414 1 Significant growth opportunities 2 Diversified platform 3 Digitally enhanced multi-channel model 4 Innovative & consumer centric 5 Leading Asia-based asset manager#15New or enhanced products Continued innovation and enhancing our product & digital capabilities New or enhanced products >90 Inclusive offerings Modern families Muslim community New D2C products¹ 19 Small and medium sized businesses Low-income groups Digital innovation Broadening access to new customers Enrich customer engagement Proposition centred on customers' needs 15 1. Number of new products launched in the six months ended 30 June 2022, which are sold direct to consumer through digital tools including Pulse. Scalable platforms enhancing efficiency#1616 Delivering for 19.3m life customers as a trusted partner Leading customer experience High customer satisfaction 75% Smart underwriting rate¹ Top 3 NPS in 5 out of 7 markets³ 24% Smart claims rate² 1. % of policies which are auto-underwritten. 2. % of policies where claims are settled without human intervention. 3. Net Promoter Score (NPS) as measured by competitive benchmarking surveys in Hong Kong, Malaysia, Indonesia, the Philippines, Taiwan, Thailand and Vietnam. >90% Customer retention ratio#1717 1 Significant growth opportunities 2 Diversified platform 3 Digitally enhanced multi-channel model 4 Innovative & consumer centric 5 Leading Asia-based asset manager#1818 Eastspring - experts in Asia. Invested in your future Significant growth opportunities 22% Low mutual fund penetration >50% Asia's expected share of global GDP in 2040 750m No. of people over 65 by 2040 Strong platform Leading Asia-based asset manager Broad regional presence AUM of $222bn Competitive advantages Top 10 positions in 6 out of 11 markets¹ 300 investment professionals providing deep local expertise Reliable and stable flows from life business 1. Asia Asset Management -Fund Manager Surveys. Based on assets sourced in Asia ex-Japan, Australia and New Zealand. Ranked according to participating firms only.#1919 Disciplined execution of our strategy to deliver growth & value TA#20HY22 Financial highlights APE sales, $m New business profit, $m +9% -5% 0% excl. economics 2,213 1,155 Resilient broad- based delivery Continued investment in operational capability 2,036 HY21 HY22 IFRS operating profit, $m +8%1 1,539c EEV/share, 30 June 2022 20 5.74c 1,661 1,531 HY21 HY22 First interim DPS, 2022 Note: Data as of HY21 and growth rates are on a constant exchange rate basis unless otherwise stated. 1. HY22 Life & Asset Management segmental profit $2,029m, +6% YoY (CER). 1,098 HY21 HY22 Operating free surplus generation Life & Eastspring, $m +12% 1,224 1,089 HY21 HY22#2121 1,253 FY11 14.0 FY11 Proven model of delivering growth & value New business profit 1,3,5, $m 2.0x Embedded value2,4,5, $bn 3.3x HK MCH NBP7 2,526 1,214 FY21 FY11 46.1 FY21 IFRS operating profit 2,3,5, $m 3.3x 4,023 FY21 Operating free surplus generation 2,3,5,6, $m 747 FY11 1. Continuing insurance operations. 2. Continuing insurance and asset management operations. 3. Comparatives are adjusted for new and amended accounting standards and exclude PCA Korea Life, Japan and Taiwan agency. 4. 2011-2016 include PCA Korea Life. 5. All comparatives exclude Africa and are on an actual exchange rate basis. 6. Before restructuring and IFRS17 implementation costs. 7. Hong Kong Mainland Chinese visitors' new business profits (2019: $1,246m; 2020: $128m). 2.8x 2,071 FY21#22Key messages: Delivering sustainable growth & value 1 Diversified pure-play Asia & Africa with leading positions in key high growth markets 2 Enhancing capabilities building on our substantial competitive advantages 22 22 3 High quality resilient growth in HY22 despite challenging 4 Successful execution of our strategy enables us to take advantage of the growth opportunities ahead#23James Turner Group CFO PRUDENTIAL#2424 Delivering sustainable growth & value 1 Diverse sources of Growth 2 Earnings Momentum 3 Robust Capital 4 Quality & Resilience TA#25HY22 resilient results Diverse sources of growth 25 25 Strong capital surplus $bn HY21 HY22 APE 2.01 2.2 +9%1 Growth NBP 1.21 1.1 (5)%1 Group EEV 47.4 42.3 (11)% (31 Dec. 2021) (30 Jun. 2022) Earnings Group IFRS operating profit 1.51 1.7 +8%¹ Capital Free surplus stock² GWS 3,5 GPCR cover GWS3,8 GMCR cover 8.4 (31 Dec. 2021)4 320% (31 Dec. 2021)4,6,9 545% (31 Dec. 2021)4,6,9 8.6 (30 Jun. 2022) 317% (30 Jun. 2022)7 548% (30 Jun. 2022)7 5.74c First interim DPS, 2022 1. Constant exchange rate basis. 2. Excluding distribution rights and other intangibles. 3. Prudential applies the Insurance (Group Capital) Rules set out in the GWS Framework to determine group regulatory capital requirements (both minimum and prescribed levels). 4. Proforma for $1.7bn debt redemption in January 2022. 5. GWS coverage ratio of capital resources over prescribed capital requirement attributable to shareholder business. 6. Before allowing for the 2021 second cash interim dividend. 7. Before allowing for the 2022 first cash interim dividend. 8. GWS coverage ratio of capital resources over Group minimum capital requirement attributable to shareholder business. 9. Updated for the impact of Hong Kong RBC and C-ROSS II. The reported GMCR cover ratio as at 31 December 2021 was 408%.#2626 Challenging market context to navigate Covid disruption¹ Indicative restriction levels by market 1Q 4Q 10 20 30 40 12 20 21 21 21 22 22 Equities down Equity indices 30 Jun '22 YoY & vs 31 Dec 21, % Rates up 10Y gov. bond yield, 30 Jun '22 YoY & vs 31 Dec 21, bps Spreads wider 30 Jun 22 YoY & vs 31 Dec '21, bps Chinese Mainland HK Domestic HK Border Indonesia Malaysia Singapore Mostly normalised Significant restrictions Modest restrictions Lockdown in period -25% MSCI Asia ex Japan -17% Chinese Mainland HK (US) -24% Hang Seng -7% Indonesia -14% CSI 300 -9% Malaysia S&P 500 -12% -21% Singapore -26 5 Asia USD A 12 16 150 146 Asia USD BBB 68 80 74 84 93 65 USD A 54 60 vs 30 Jun '21 vs 31 Dec '21 vs 30 Jun '21 vs 31 Dec '21 1. Lockdown definition varies among countries but generally refers to date non-essential businesses were ordered to shut down. Easing of lockdown comes with certain restrictions in all the countries; Prudential analysis. 143 131 USD BBB 97 83 vs 30 Jun '21 vs 31 Dec '21#27Strong franchise Pan Asia & Africa APE growth +9%2 27 22 APE: $2.2bn (HY21: $2.0bn)² Growth mkts 36% CPL 23%¹ HK 10% Indo. 5% Malay. Sing. 18% 8% Multi-channel Other Banca 53% Agency 36% APE by market, HY22 Well-balanced APE by channel, HY22 Recurring premium H&P 24% Linked 21% New single Non Par Par 28% 27% New regular 83% APE by product, HY22 1. CITIC Prudential Life (CPL). New business in CPL is included at Prudential's 50 per cent interest in the joint venture. 2. Constant exchange rate basis. APE by contribution type, HY22#28Sales momentum maintained YOY APE sales growth by month, 2021-July 20221 109% 105% 141% 132% 127% 104% 101% 95% 112% 109% 103% 89% 1Q22: Positive momentum maintained during Covid restrictions 2Q22: Rapid rebound with normalisation in many markets 113% 107% 99% 99% 120% 118% 113% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 2021 2022 28 1. Year-on-year growth rates on a constant exchange rate (CER) basis.#2929 High quality resilient performance Diverse sources of growth NBP: $1.1bn (HY21: $1.2bn) 1 1,155 NBP excl. economics NBP development HY21-HY22, $m (55) 101 (44) +0% (59) (5)% 1,157 1,098 HY21 (CER) Volumes Country mix Product/Channel mix/Other HY22 excl. Economics Economics HY22 1. Constant exchange rate basis. High quality NBP by product, HY22 H&P Par Linked Non Par 2. CITIC Prudential Life (CPL). New business in CPL is included at Prudential's 50 per cent interest in the joint venture. Diversified NBP, HY22 $m, % YoY (CER)¹ Total ex economics 1,157 0% Total 1,098 (5)% Growth Markets 304 22% Singapore 244 16% CPL² 217 (4)% Hong Kong 211 (31)% Malaysia 70 (36)% Indonesia 52 (7)%#3030 30 47.4 EEV driven by NBP & expected return, offset by economics Group EEV development HY22, $bn EEV operating profit: $1.8bn (HY21 CER2: $1.7bn) ROEV³ 8% (HY21: 8%) 1.2 0.1 1.1 (0.2) (0.4) (5.2) (0.8) (0.5) (0.3) 42.3 EEV FY211 NBP Expected return Op variances Eastspring Central costs ST-Flux Inv. returns Econ. assumption changes FX, other Dividend paid EEV HY22 1. Actual exchange rate basis. 2. Constant exchange rate basis (CER). 3. Operating return on average EEV shareholders' equity, net of non-controlling interests.#3131 Earnings Momentum: Group operating profit +8%¹ Well diversified life profit Life IFRS operating profit, HY22 % YoY CER¹ High quality IFRS insurance income, HY22 Central costs reducing Group P&L HY21-22 $m HY21 HY22 CPL+7%2 Hong Kong+10% Spread With Profit Fee (CER¹) % Growth Life 1,768 1,898 7% Eastspring 155 131 (15)% Segment Profit 1,923 2,029 6% Indonesia (12)% $1.9bn Malaysia +9% +7% Central items Group Operating Profit Short-term fluctuations4 Insurance Margin Other 81% PBT (392) (368) 1,531 1,661 (234) (96) 1,201 6% 8% (1,383) n/a 22 n/a 300 (75) Singapore +9% Tax Profit Continuing Ops 1,025 (176) (194) 106 (10) (90) Growth markets +21% 3 Other items (1) %³ 1. Constant exchange rate basis (CER). 2. CITIC Prudential Life (CPL). New business in CPL is included at Prudential's 50 per cent interest in the joint venture. 3. Other items of $160 million (HY21: $161m CER), includes a non-recurring Hong Kong RBC related benefit. 4. Includes a non-recurring HK RBC related benefit.#3232 IFRS17 programme well advanced Expected outcomes Strategy and dividend policy unchanged • Value and capital metrics unchanged Reconciliation of Shareholders' Equity plus CSM to EEV will be provided • Accounting mismatches remain Operating profit will separate short-term fluctuations from underlying earnings Opening Balance Sheet (1 Jan 2022) UK endorsed IFRS17 (17 May 2022) 2022 IFRS17 comparative period · In progress Key accounting judgements agreed, subject to external audit Production and audit of Opening Balance Sheet underway • Outstanding Some judgements pending industry developments External audit of accounting policies, new processes and controls ⚫ HY22 IFRS17 comparatives production to start in Q3 2022 2023 IFRS17 Effective Date (1 Jan 2023) FY22 on IFRS4 with guidance on IFRS17 impacts (Mar 2023) Market briefing on IFRS 17 results (Q2 2023) HY23 interims on IFRS17 basis (Aug 2023) FY23 with full IFRS17 disclosures (Mar 2024) 2024#3333 Robust capital Strong regulatory capital & balance sheet Financial flexibility Growing free surplus funds growth Regulatory capital and ratings metrics remain strong Significant financial flexibility to support future investments HK RBC and C-ROSS II adopted Enhanced disclosure given expected changes to HKIA capital reporting guidance $16.2bn Group shareholder GPCR surplus1,2,3,4 317% Group shareholder GPCR cover ratio1,2,3,4 $8.6bn Shareholder Free Surplus 1,6 22%/AA- Moody's total leverage ratio ¹/FSR rating8 548% Group shareholder GMCR cover ratio1,2,4,5 $2.1bn Holding company cash¹ Represents capital available for investment Less impacted by recent regulatory changes than GWS Free surplus and required capital 2018-HY22, $bn 8.6 Free surplus6 8.4 5.0 5.7 3.6 2.1 5.6 2.9 3.2 3.4 3.2 3.2 EV required capital 2018 2019 2020 2021 2021 Group7 HY22 Group . EV required capital remains on GPCR basis 1. At 30 June 2022. Asia 2. Prudential applies the Insurance (Group Capital) Rules set out in the GWS Framework to determine group regulatory capital requirements (both minimum and prescribed levels). 3. GWS capital resources in excess of the Group prescribed capital requirement (GPCR) attributable to shareholder business. 4. Before allowing for the 2022 first cash interim dividend. 5. GWS coverage ratio of capital resources over Group minimum capital requirement (GMCR) attributable to shareholder business. 6. Excluding distribution rights and other intangibles. 7. Proforma for $1.7bn debt redemption in January 2022. 8. The Group has a AA- Financial Strength Rating from Standard & Poors and from Fitch. (post regulatory changes)#34Primed for growth Strong in-force capital generation High returns on invested capital Compounding value Investing for the long-term - $11bn since 2012 8.4 Free surplus 31 Dec 2021² 34 Group free surplus development¹ HY22, $bn 0.1 (0.3) (0.4) 1.4 (0.3) Group OFSG3³: $0.8bn (HY21 CER4: $0.7bn) (1.7) 1.4 8.6 In-force profit New business Eastspring Central costs Dividend paid Non-operating, .5 investment FX, Other Impact of regulatory changes (HK) Free surplus 30 Jun 2022 Re-investing in high quality new business $0.3bn reinvested in organic new business $1.1bn NBP generated >30% IRRS/4x value multiplier 1. Excluding distribution rights and other intangibles. 2. Proforma for $1.7bn debt redemption in January 2022. 3. Operating free surplus generated (OFSG). 4. Constant exchange rate basis (CER). 5. Free surplus invested in new business primarily represents acquisition costs and amounts set aside for required capital.#3535 Quality & resilience Cover ratio: GWS shareholder capital position 31 December 2021 - 30 June 2022, $bn¹ 545% 548% 320% 317% Strong & resilient GWS capital position Macro sensitivities remain low post regulatory changes Risk appetite: above 150% on shareholder GPCR basis 25.5 25.5 23.7 23.7 Surplus: 20.8 19.4 17.5 16.2 4.7 2021 GMCR2,3 ■Capital resources ■Required capital 8.0 7.5 4.3 HY22 GMCR5 2021 GPCR 2,3 HY22 GPCR5 Post regulatory update4 GWS capital position highly resilient to macro shocks 30 June 2022, GWS shareholder cover ratio, GPCR basis 1,5,6 Base position Equity +10% Equity -20% Rates -50bps Rates +100bps Credit spreads +100bps 317% 312% -5%p 307% -10%p 320% 3%p 291% -26%p 307% -10%p 1. Prudential applies the Insurance (Group Capital) Rules set out in the GWS Framework to determine group regulatory capital requirements (both minimum and prescribed levels). 2. Proforma for $1.7bn debt redemption in January 2022. 3. Before allowing for the second 2021 interim dividend. 4. Updated for the Impact of Hong Kong RBC and C-ROSS II. 5. Before allowing for the first 2022 interim dividend. 6. The Group's retained economic interest in Jackson Financial Inc is assumed to be unchanged in the sensitivities. The sensitivity results assume instantaneous market movements and reflect all consequential impacts as at the valuation date.#36Asia EEV $ $8.1bn 31 Dec 2008 w Quality & resilience: Meeting customer needs High customer retention through cycle¹ 2008-HY22 c5x >90% >90% 89% 36 1. Excludes India. >90% >90% >90% >90% >90% >90% >90% >90% >90% >90% $40.3bn 30 Jun 2022 89% >90% 2008 2009 2010 GFC 2011 2012 2013 2014 2015 2016 "Taper tantrum" 2017 2018 2019 HK social unrest 2020 2021 HY22 Pandemic Market volatility MSCI Asia Ex Japan#3737 Quality & resilience: Actively managing inflation risk • Considerations Product Pricing Persistency People Impact on business • Adverse economic conditions & asset value volatility . • Lower consumer disposable income • Lapse risk Medical inflation, salaries • • Mitigants Asset-liability matching, prudent asset allocation, strong participating funds Diverse product range with many price points Quality sales process, product design, protection focus • Regular re-pricing, cost. discipline, agency model#3838 ● Summary: High quality and resilient franchise Strong execution delivers growth in challenging markets Positioned to capture growth opportunities Free surplus stock provides capacity to invest Robust regulatory capital position Commitment to achieving long-term double-digit growth in EEV per share#39A Lilian Ng Managing Director, Strategic Business Group PRUDENTIAL#40Chinese Mainland: Unparalleled platform for customer growth Solid and scalable foundation Established multi- distribution Integrated risk rating¹ GWP growth² 25 quarters "A" +13% Most achieved insurer # of Elite agents +12% MOM4 Drive for quality 3.6 times industry Expand banca +50% #branches³ >6,000 Broadest Geographic Coverage 23 branches (99 cities) Serving 1.7m m customers Diverse distribution platform Group Top 2 Player Relevant customer proposition Acquisition 112k New customers Protecting +53% H&P Onboard 363k H&P policies 40 40 All data for the first 6 months unless otherwise stated. 1. Ratings based on quarterly assessment given by China Banking and Insurance Regulatory Commission. 2. On the basis of industry gross written premium metrics reported to the China Banking and Insurance Regulatory Commission (CBIRC). 3. YoY growth compared to HY21. Access to >6,000 bank branches as at 30th June 2022. 4. MOM refers to month on month growth from Jan 2022 to June 2022. 5. MDRT qualifiers. 6. Amongst foreign JV players (by gross written premiums). Banca 55 Partners HY22 NBP by Channel Agency > 1000 MDRTS5#4141 Hong Kong: Resilient platform to serve customers Customer advocacy Multi- distribution platform Satisfaction #1 Retention >98% Voice of customers¹ Strong loyalty Active agents Banca value +86% Q2/Q1 5.9/active H&P policies Shifting mix to H&P policies Omni-channel Platform to Serve 1.35m customers Digital self-servicing 195k transactions Resilient distribution platform Agency Top 3 Agency Banca #1 Strategic Bank Partnership Product proposition Product innovation New to Pru 24% Q2 APE 2/3 New customer proposition² Customers bought H&P Broker Quality Focused HY22 NBP by Channel All data for the first 6 months unless otherwise stated. 1. Double-blind customer satisfaction survey conducted by an independent third-party agency. 2. Refers to Individual life business.#42Solmaz Altin Managing Director, Strategic Business Group PRUDENTIAL#4343 Indonesia: Resilience supported by broadening & strengthening capabilities #1 MDRT company #1 #1 Agency force Sharia market share Agency transformation New business profit, $m 56 -7% 52 52 Initiatives Enhance bancassurance capabilities HY21 HY22 Customer centricity and digitising core APE sales 116 110 -5% Quality focus Unit- linked (45%) Traditional (55%) Margin 48% 47% -1ppt 78% Balanced new sales portfolio High H&P mix in NBP#44Malaysia: Strong positioning #1 MDRT company 24k No. of agents One of the largest agency forces +36% YoY increase in MDRTS Increase in quality Strong Takaful base #1 44 1. Source: Malaysian Takaful Association (MTA). +15% Takaful market leadership¹ YoY growth in Takaful agents to c.19k Quality focus 98% High regular premium mix 68% High H&P mix in NBP New business profit, $m -36% 109 70 HY21 HY22 APE sales 202 172 -15% Margin 54% 41% -13ppt#4545 Philippines: Strong positioning supports continued momentum ~X2 Enhancing distribution capabilities Increase in new recruits to 9.2k +15% Increase in no. of active agents APE sales, $m +5% Product innovation 1st in market PRUHealth Fam Love CI Protection Plan covering up to 4 family members in 1 policy Innovative modern family-orientated product Quality focus 94% Strong customer retention ratio +12% Growth in renewal premium income 83 87 HY21 HY22 Lives assured 0.86m 1.05m +22%#46Dennis Tan Managing Director, Strategic Business Group PRUDENTIAL#47Singapore: Strong positioning supports continued momentum 47 1. As at 31 March 2022. Enhancing >1k +53% distribution capabilities MDRT members, Strong growth ranked #3 in SG in banca NBP Broadening product innovation Quality focus Highly customised ILP solutions that meet retirement and protection needs New business profit, $m +16% 244 210 HY21 HY22 APE sales 370 390 +5% Margin 57% 63% +6ppt >98% 34% Agency RP market share¹, +2ppt YoY High customer retention ratio#48!!! Thailand: Strong progress Enhancing distribution capabilities #3 Market share in Banca 7.9% Pru Thailand 0.4% Sector Banca APE YoY growth¹ Broadening product innovation >3.6k No. of TTB sales people APE sales, $m +9% 99 91 № 4x 3x HY21 HY22 APE growth in health. reimbursement APE growth in whole life Quality focus 93% High regular premium mix +24% Growth in H&P APE 48 1. Based on weighted new business premiums as per Thai Life Assurance Association (TLAA). HY22 v HY21 YoY CER growth.#49Appendix 49 49 Contents: CEO appendix 50 CFO appendix 61#50CEO appendix#5151 Inclusive workplace • Focus on diversity, inclusion and belonging • Flexible work plans and mental health support Signed UN Women's Empowerment principles ESG Building social capital Helping people get the most out of life $ Making health and financial security accessible • • Inclusive product development Focus on digital innovation to increase penetration in underserved populations Developed more inclusive product, notably Made for every Family modern family focus Sharia developments in Malaysia & Indonesia Stewarding the human impacts of climate change Supporting an inclusive transition • Just and inclusive approach to low carbon transition reflects development stages of our markets • Targets linked to remuneration#52Leading pan-Asia & Africa focused life & health insurer and asset manager Why? Our Purpose Who? What? How? 19.3m customers¹ >90 new and revamped products in HY22 Multi-channel distribution We help people get the most out of life We make healthcare affordable and accessible We promote financial inclusion across our markets We protect people's wealth and grow their assets, and we empower people to save for their goals ST Large Pan-Asian footprint Expanding business in Africa Health & Protection insurance Solutions for all (Emerging, mass, affluent, high net worth & Group customer segments) Developing capacity to serve 50m customers by 2025 Savings & investments pulse by Prudential Value-added health services >530k agents² Underpinned by favourable long-term structural growth drivers Superior economic growth Favourable demographics ATA Aligned with public policy objectives >27k bank branches² 4.8m leads generated³ Large protection gap and low insurance penetration in our markets 52 62 1. Africa total customer numbers exclude micro insurance customers and members in Group schemes. 2. As at 30 June 2022. 3. Leads that originate from a digital platform, digital campaign or partner; and other leads, including leads from agents, recorded on digital leads management systems.#5353 Diversified franchise with leading presence in markets with favourable macro trends Chinese HY22 IFRS adjusted Life position¹ Eastspring position Insurance penetration Total health protection operating gap profit GDP growth forecast⁹ $149m Mainland Top 32 2.1% $805bn 5.0% 鍋 Hong Kong $501m Top 3 Top 10 17.3% $23bn 3.2% Indonesia $196m Top 3 Top 10 1.1% $82bn 5.5% Malaysia $190m Top 33 Top 10 3.9% $47bn 4.6% Singapore $340m Top 34 Top 10 7.5% $23bn 2.6% Philippines $59m Top 3 1.5% $32bn 6.5% Taiwan $45m Selected 11.6% $41bn 2.3% Growth Thailand markets $103m Top 10 3.4% $6bn 3.5% Vietnam $155m Top 3 1.6% $36bn 6.9% India n/a Top 35 Top 10 3.2% $369bn 6.7% 1. As reported at full year 2021. Sources include formal (e.g. competitors results release, local regulators and insurance association) and informal (industry exchange) market share data. Ranking based on new business (APE sales, weighted full year premium or full year premium depending on availability of data) or total weighted revenue premiums. 2. Ranking among JV players. Ranked 4th based on foreign players. 3. Includes Takaful, excludes Group business. 4. Includes onshore only. 5. Private players only. 6. Source: Asia Asset Management - Fund Manager Surveys. Based on assets sourced in Asia ex-Japan, Australia and New Zealand. Ranked according to participating firms only. 7. Swiss Re Institute; sigma No 4/2021 - insurance penetration (premiums as a percentage of GDP). 8. Swiss Re Institute. The health protection gap in Asia, October 2018. Estimated total national health protection gap as defined by Swiss Re Institute (financial stress caused by health spending and incidence of people not seeking treatment due to affordability). 9. Represents a CAGR of forecast GDP per capita between 2022 and 2026 and is based on IMF World Economic Outlook Database, April 2022.#54Distinct competitive advantages 1 Chinese Mainland: Access to nearly whole of country >80% GDP & GWP1 23 branches & presence in 99 cities 2 India: Top 3 Life and Asset Manager2 ICICI PRUDENTIAL LIFE INSURANCE 15% market share³ ICICI PRUDENTIAL ASSET MANAGEMENT 12% market share4 3 Indonesia: #2 insurer and #1 Sharia PRUDENTIAL 保 ! pulse 5 Pulse: Compelling digital strategy All-in-one, personalised and on-demand AI-powered app Engage Onboard Fulfilment 6 Agency: Leading agency force across the region >530,000 agents8 >60,000 agent recruits⁹ by Prudential 7 Bancassurance: Largest branch network #2 share5 #1 #1 eastspring investments Overall market Agency force Sharia market share5 4 Thailand: Rapid growth in high-potential market 0.4% 7.9% Sector Pru Thailand Banca APE YoY growth6 #3 Market share in Banca >27,000 Bank branch access 8,10 8 Eastspring: Our leading Asian asset manager Top 10 position in 6 out of 11 markets11 FUM of $222.3bn³, down -14% YTD 54 1. 2020 data for GDP and GWP. Sources from National Bureau of Statistics and CBIRC.. 2. Source: IRDAI. ICICI Prudential Annual Reports and Investor Presentations. 3. Based on new business sum assured for 12 months ended 31 December 2021. Source: IRDAI. Among private players only. 4. Based on FUM. As at 31 December 2021. 5. As at FY21. Ranking based on weighted new business premiums. Ranked 1st based on total weighted premiums. 6. Based on weighted new business premiums as per Thai Life Assurance Association (TLAA). HY22 v HY21 YoY CER growth. Based on APE, PLT +9% YoY CER growth. 7. On a constant exchange rate basis. 8. As at 30 June 2022. 9. For the 6 month period ending 30 June 2022. 10. Including India and Africa. 11. Source: Singapore and Hong Kong (Morningstar), Malaysia (Lipper), Thailand (Association of Investment Management Companies), Korea (Korea Financial Investment Association), India (Association of Mutual Funds in India), Japan (Investment Trusts Association, Japan), Taiwan (Securities Investment Trust & Consulting Association of R.O.C.), China (Wind), Indonesia (Otoritas Jasa Keuangan), Vietnam (State Securities Commission of Vietnam). Per latest data available.#555 55 Chinese Mainland and Hong Kong: New business results Chinese Mainland New business profit, $m 227 HY21 -4% 217 HY22 Hong Kong New business profit, $m -31% 304 211 HY21 HY22 APE sales 447 507 +13% APE sales 251 227 -10% Margin Margin Total 51% 43% -8ppt Total 121% 93% -28ppt Agency 81% 62% -19ppt Banca 42% 41% -1ppt#5656 Chinese Mainland: Our "City Cluster" Model Citic-Prudential Life (CPL) GWP, $bn¹ $0.7bn $1.2bn $1.0bn 3.6x $2.0bn $1.8bn $2.2bn $2.4bn GWP CAGR GWP Mix %² CPL GWP Market Share % CPL Agency Channel³ CPL Banca Channel³ (1H16- 1H22) CPL China Market 1H16 1H22 # of Agents (,000)7 # of Partners6 # of Outlets (,000)7 Rest 37% 28% 54% 0.09%4 0.41%4 5 10 10 3 Shanghai Cluster 30% 14% 23% 0.15%4 0.47%4 1 27 1 GBA 18% 29% 12% 0.96%4 1.86%4 6 30 1 Beijing Cluster 19% 29% 12% 0.88% 1.91%4 4 22 1 1H16 1H17 1H18 1H19 1H20 1H21 1H22 ■Beijing Cluster ■GBA ■Shanghai Cluster ■Rest Total 24% 100% 100% 0.31%5 0.77%5 16 55 16 Beijing Cluster = Beijing + Tianjin + Hebei GBA = Guangdong (include Shenzhen branch), exclude Hong Kong & Macau Shanghai Cluster = Jiangsu + Zhejiang + Shanghai + Anhui Rest Rest of China (not including Beijing Cluster, GBA and Shanghai Cluster) 1. 100% CPL GWP under constant 1H22 exchange rate basis. 2. Based on 1H22 data for CPL and CBIRC China Market GWP data. 3. As at June-2022. 4. GWP market share represents market share of the cluster. 5. GWP market share is on a total industry basis. 6. Number of banca Partners does not cast as some bank partners are partners in several clusters. 7. Number shown to the nearest thousand.#5744 57 Africa: Ongoing business momentum driven by innovation $76 million of APE sales Distribution +17% Google Digital Partnerships Build data-led Agency >13,000 agents MTN APE sales growth¹ turaco CinetPay and accessibility. orange airtelticô value propositions for our customers. Increase reach MDRT Agents in Nigeria and Ghana have already achieved MDRT qualification Bancassurance >1,000 branches, >40 bank partners Optimising strategic partnerships standard Centenary chartered Bank (absa) Z FIDELITY Ecobank The Pan African Ban zanaco ZENITH Stanbic Bank dfcUBANK ...with pleasure Products Refreshed COVID19 cover Flagship Community Events SAFE STEPS DIDIER SAYS Prudential COVID-19 Cover Prudential provides free a 30 days cover for clients hospitalized due to Covid-19. Learn More YOU'RE BETTER LATE THAN NEVER SLOW DOWN AND OBEY THE SPEED LIMIT SAFESTEPS.COM DIDIER CROODA Standing with our communities through cover that offers hope at a time of uncertainty. >9,000 COVID related claims paid Leading the conversation to promote safe road use, building habits to save and protect lives in Cote d'Ivoire, Zambia, Cameroon, Uganda, Kenya New products for all people at every stage of life to help them get the most out of life Degree insurance 1. Post-retirement health insurance scheme, 2. Offshore and local currency collective investment scheme Pru critical care: Lump-sum pay-out for critical or terminal illness Cameroon: Zambia: Kenya: Nigeria: Uganda: 1. Easy protection term assurance product, 2. Revamped my Basic Savings plan 1. PruFarewell last expense plan, 2. ABSA Family Protection, 3. Stanbic Medicare, 4. Exim Medi-life, 5. End-to-end digital funeral product with Stanbic Bank Cote d'Ivoire: Hospitalisation cash plan Cha-ching financial literacy Fundamentals of financial literacy shared with selected primary schools in Togo, Cote d'Ivoire, Ghana, Zambia, Kenya Global Money Week Annual events and activities aimed at inspiring youth to learn about money, saving, employment and entrepreneurship celebrated in Ghana, Cameroon, Togo, Cote d' Ivoire Mental wellness training for managers 12/ PRUDENTIAL Providing thought leadership on Mental Health at the workplace across all our businesses Reach 1. Constant exchange rate (CER) basis. 2. Growth from prior year H1. 3. Includes Group policies Safe Steps Road Safety >2.8 million lives covered³ 44% growth in lives covered² Official insurance sponsor of the Africa Cup of Nations football tournament Market Leaders Prudential Life Assurance Zambia has now claimed the number 1 life market position Prudential Life Assurance Uganda is now number 1 in the life market Innovation Leaders #WeDoMentalWellness Prudential Uganda named the most innovative insurer by the regulator, the second time in a row Prudential Uganda launched the Best HR Practices Survey to share best practices and recognise organisations championing best employment practices Prudential Africa Regional Hub joined Nairobi International Financial Centre as the anchor client and was mentioned in the Kenyan President's speech#58Building on our leadership in Sharia & Takaful Reinforced leadership in Sharia and Takaful 1. Growth rates on a constant exchange rate (CER) basis. 58 2. As at 31 December 2021 Broadening access to new customers 240m Muslims in SE Asia Favourable demographics #1 Malaysia Takaful 30% market share² 19k agents; +15% Indonesia Sharia 29% market share² 163k agents; +19% Leading position Covid restrictions & repricing actions impacting sales Enhancing quality BSN Sakinah New H&P product launch in banca channel 67% HY22 Takaful H&P APE mix -17% 76 64 HY21 CER1 HY22 Sharia and Takaful APE, $m +69%→ 468 277 Driving increased productivity +35% 1.40 1.88 HY21 HY22 Increase in no. of customers, m pulse by Prudential Bite-size low-cost digital products & services Providing affordable & accessible healthcare HY21 HY22 No. of new Sharia and Takaful policies (,000)#5959 Hong Kong: Intact demand drivers for Chinese Mainland customers MCH visitors' reasons to visit HK (Next 12 months) Managing personal wealth¹, % 75 75 76 73 72 67 63 19 61 Q2 2019 Q3 2019 Q4 2019 Q2 2020 Q4 2020 Q2 2021 Q4 2021 Q2 2022 Healthcare services, % Financial products likely to acquire in HK (Next 12 months) Any insurance products², % Mutual funds/ unit trust, % Majority of MCH visitors prefer to wait until border opens to purchase insurance in HK 48 45 43 46 47 43 27 32 Q2 2019 Q3 2019 Q4 2019 Q2 2020 Q4 2020 Q2 2021 Q4 2021 Q2 2022 89 78 Q2 2019 Q3 2019 Q4 2019 Q2 2020 Q4 2020 Q2 2021 Note: Based on our 2Q 2022 MCH Sentiment Tracker conducted through an online survey. Survey results are based on sample size of 450. 1. Managing personal wealth includes meeting with financial consultant/ insurance agent, purchasing savings, investment or insurance products. 2. Any insurance products refers to insurance with coverage in the event of death, CI, Medical & hospitalization insurance and savings insurance. 75 86 91 85 83 91 Q4 2021 Q2 2022 Q2 2019 41 60 60 44 38 40 48 Will go to Macau to buy an insurance policy from a Hong Kong insurer Wait until the border opens & then purchase insurance policy in HK 39 32 Will buy an insurance policy within the Chinese Mainland Q3 2019 Q4 2019 Q2 2020 Q4 2020 Q2 2021 Q4 2021 Q2 2022 21 16 63 Plan to purchase insurance if HK border has not opened, %#6060 60 Hong Kong: Intact demand drivers for Chinese Mainland customers MCH visitors' intention for financial products Any insurance products¹, % CI insurance, % Medical & hospitalisation insurance, % Likely to acquire in N12M - Any type Likely to acquire in N12M - Most likely type 89 55 86 7875 91 8583 34 41 61 49 61 91 58 49 76 70 67 6867 27 59 55 56 52 5456 50 47 38 Q2 2019 Q3 2019 Q4 2019 Q2 2020 Q4 2020 Q2 2021 Q4 2021 Q2 2022 Q2 2019 Q3 2019 Q4 2019 224 44 28293129 Q2 2020 Q4 2020 Q2 2021 Q4 2021 37 13 171213 8 14 Q2 2022 Q2 2019 34 Q3 2019 u Q4 2019 Q2 2020 Q4 2020 Q4 2021 00 Q2 2021 Q2 2022 MCH visitors' preference for medical treatment Minor illness, % MCH visitors' preference for medical treatment Critical illness, % 88 82 83182 80 79 71 9 19 1515 131212 12 3433 34 31 30 28 26 22 65 75 59 6061 66 54 59 2 55 2 6 1 2 2 2 3 3 * ** 77 5 2 5442 6 5 4 1 223 3 1 * * Chinese Mainland Hong Kong Taiwan Other Asian countries None of the above Chinese Mainland Hong Kong Taiwan Other Asian countries None of the above ■Q3 2019 ■Q4 2019 ■Q2 2020 Q2 2019 ■Q3 2019 ■Q4 2019 Q2 2020 ■Q2 2021 ■ Q4 2021 ■Q2 2022 ■Q4 2020 ■Q2 2021 ■Q4 2021 ■Q2 2022 Note: Based on our 2Q 2022 MCH Sentiment Q2 2019 ■Q4 2020 Tracker conducted through an online survey. Survey results are based on sample size of 450. 1. Any insurance products refers to insurance with coverage in the event of death, CI, Medical & hospitalization insurance and savings insurance.#61CFO appendix#62Diversification and growth Financial performance by segment Growth mkts CPL³ $m New Business Profit, HY22 HK Sing. Indo. Malaysia CPL3 New Business Profit Adjusted IFRS Operating Profit EEV SHF Long- term business¹ HY22 % YoY² HY22 % YoY² 30-Jun-22 217 (4) 149 3,302 Adjusted IFRS Operating Profit, HY22 Eastspring CPL³ Growth mkts &... Hong Kong 211 (31) 501 10 17,246 Indonesia 52 HK (7) 196 (12) 1,956 Malaysia 70 (36) 190 9 3,524 Indo. Sing. Malaysia Singapore 244 16 340 9 6,712 Growth markets & other4 304 22 522 13 6,225 Growth mkts 3 CPL Eastspring n/a n/a 131 (15) n/a EEV SHF LT Business, 30 June 20221 Sing. Total HK 1,098 (5) 2,029 16 38,965 62 62 Malaysia Indo. 3. CITIC Prudential Life (CPL). New business in CPL is included at Prudential's 50 per cent interest in the joint venture. 4. Adjusted operating profit for growth markets and other includes other items of $160 million (half year 2021: $167 million on an AER basis and $161 million on a CER basis; full year 2021: $217 million on an AER basis) which in the first half of 2022 comprised largely of the impact of the adoption of the Risk-Based Capital regime in Hong Kong offset by corporate taxes for life joint ventures and associates and provisions for sales and premium tax. 1. Excluding goodwill. 2. Constant exchange rate basis.#63Diversified and resilient segment NBP performance Diversified APE, HY22 $m, % Growth YoY (CER¹) Mix & economic effects NBP margin vs APE HY22 vs HY211 Resilient NBP, $m, % Growth YoY (CER¹) CPL2 507 13% CPL 2 43% 51% CPL² 217 (4)% HK 227 (10)% Indo. 110 (5)% Malaysia 172 (15)% Sing. 390 5% 93% HK HK 211 (31)% 121% 47% Indo. Indo. 52 (7)% 48% 41% Malaysia 54% Malaysia 70 (36)% 63% Sing. Sing. 244 16% 57% 38% Growth markets 807 24% Growth markets Growth markets 304 22% 38% 50% Total 2,213 9% Total Total 57% HY22 HY21 1. Constant exchange rate basis. 63 2. CITIC Prudential Life (CPL). New business in CPL is included at Prudential's 50 per cent interest in the joint venture. NBP: $1.1bn (HY21: $1.2bn) 1,098 (5)%#6444 64 14% NBP CAGR ex HK despite disruption NBP, HY18-HY22 $bn CER¹ 1.5 Material growth in franchise with capacity for MCH sales maintained 1.0 0.4 0.1 HY18 HY19 1. Constant exchange rate basis. 14% CAGR Ex HK, HY18-22 HY20 1.1 0.2 0.6 9% CAGR HY18-22 0.3 29% HY21 HY22 ■Growth Markets Others HK#6565 Eastspring: Positive net inflows in challenging environment 258.5 Eastspring: Movement in FUM HY22, $bn (0.0) (1.8) Net flows: +$2.7bn FUM 31 Dec 21 External Retail net flow 4.5 (0.7) (38.2) Average FUM +1% vs HY21 (CER) Fee margin 28bps (HY21: 30bps) 222.3 External Institutional net flow Internal net flow UK life Mkt movements, FUM 30 Jun 22 FX, MMF#66Asset portfolio Breakdown of invested assets¹ at 30 Jun 2022 $bn Shareholder debt portfolio at 30 Jun 2022 Par funds Unit linked Shareholder- backed 2 Holding by issuer Total Portfolio No. $bn Issuers5 $m Av. Debt 49.6 Max $m <BBB-6 5.1 24.4 79.1 Direct equites 11.3 11.3 2.2 24.8 Sovereign debt 11.9 81 146.9 3,508.6 13.2% Collective investment 21.8 6.9 3.7 32.4 Other debt 12.5 1,429 8.7 260.0 schemes 3 24.4 7.4% 20.6% Mortgage 0.0 0.0 0.1 0.1 Investment grade 10.7 1,041 10.3 260.0 Other loans 1.9 0.0 0.4 2.3 High Yield 1.8 485 3.7 190.2 Other 4 1.2 0.4 2.5 4.1 12.5 Total 85.8 23.7 33.3 142.8 66 69 Note: invested assets valued on an IFRS basis, therefore exclude the assets of joint venture operations. 1. Totals may not cast as a result of rounding. 2. Includes shareholder exposure in the Group's asset management businesses. 3. Underlying assets of collective investment schemes comprise a mix of bond, equity, liquidity, property and other funds. 4. Other financial investments comprise deposits, derivative assets and other investments. 5. Presented on issuer group basis. 6. Based on middle rating from Standard and Poor's, Moody's and Fitch. If unavailable, local external rating agencies ratings and then internal ratings have been used.#67Shareholder-backed debt exposures By geography1 at 30 Jun 2022 Sovereign debt 27% 39% 24% By market: United States Thailand Vietnam 10% Other Total $11.9bn By credit rating 1,2 at 30 Jun 2022 Corporate bonds Other government bonds 3% 15% 12% 3% Rating: 14% AAA AA 47% 28% 35% A 36% BBB 7% Total $0.9bn Total $11.5bn Note: invested assets valued on an IFRS basis, therefore exclude the assets of joint venture operations. 1. Totals may not cast as a result of rounding. 67 2. Based on middle rating from Standard and Poor's, Moody's and Fitch. If unavailable, local external rating agencies ratings and then internal ratings have been used. <BBB-#6868 Shareholder-backed debt exposures By asset type¹ at 30 Jun 2022 Corporate Bonds 47% ABS 1% Other Public Sector Bonds 2% By sector 1,2 at 30 Jun 2022 Corporate debt exposures Basic Technology 3% Materials Government 3% 1% Real Estate 6% Sovereign 49% Consumer, Cyclical 6% Industrial 7% Quasi Sovereign Bonds 1% Energy 10% Total $24.4bn Note: invested assets valued on an IFRS basis, therefore exclude the assets of joint venture operations. 1. Totals may not cast as a result of rounding. 2. Primary sources of segmentation: Bloomberg Sector, Bloomberg Group and Merrill Lynch. Utilities 9% Communications 9% Total $11.5bn Financial 33% Consumer, Non-Cyclical 13%#69History of materially positive operating and economic variances Operating experience & assumption changes¹ as % of opening EV Economic experience² as % of opening EV 2011 2012 1.14% 1.10% 2011 2012 1.2% 2.4% 2013 2014 0.86% I 0.87% 2013 2014 -0.5% 1.7% 2015 0.66% 2015 -2.8% 2016 1.20% 2016 -0.2% 2017 1.86% 2017 4.5% 2018 2.67% 2018 -4.3% 2019 2.66% 2019 5.8% 2020 1.39% 2020 2.4% 2021 -0.31% 2021 -1.4% HY22 -0.41% HY22 -13.5% Average: 1.1% 1. Calculated on opening EV for long-term business for continuing operations (excluding goodwill). 69 2. Includes short-term fluctuations in investment returns and the effect of changes in economic assumptions. Calculated on opening EV for long-term business for continuing operations (excluding goodwill). Average: (0.4)%#70Free surplus represents shareholder capital available for investment Free surplus less impacted by recent regulatory changes than GWS¹ GWS/LCSM shareholder & EEV free surplus, 2019-HY22 $bn Reconciliation of EEV free surplus to GWS¹ surplus On a GPCR basis 30 June 2022, $bn 11.5 9.1 8.2 GWS surplus² 16.2 4.7 3.6 Free surplus³ 8.4 8.6 5.0 5.7 3.6 2.1 2018 2019 2020 2021 2021 Group HY22 Group Asia (GMCR basis) (GMCR basis)4,5 (post regulatory changes)6 8.6 3 EEV free surplus 70 1. Prudential applies the Insurance (Group Capital) Rules set out in the GWS Framework to determine group regulatory capital requirements (both minimum and prescribed levels). 2. GWS surplus vs GMCR from 2018-2021, vs GPCR at HY22. 3. Excluding distribution rights and other intangibles. 4. Proforma for $1.7bn debt redemption in January 2022. 5. Before allowing for the second 2021 interim dividend. 6. Before allowing for the first 2022 interim dividend. 4.9 0.7 0.1 1.9 Restrictions applied in free surplus for China C-ROSS Restrictions applied in free surplus for Hong Kong RBC Restrictions applied in free surplus for Singapore RBC 16.2 Other GWS Shareholder surplus over GPCR#7171 1.4 $66.4bn Undiscounted value 13% CAGR 2017 2018 2019 2020 2021 ■2017 & prior ■2018 ■ 2019 ■2020 ■2021 $2.3bn 2.3 Building high quality, growing capital generation Highly predictable in-force capital generation Expected free surplus generation from in-force business by year, 2022-2061, 31 December 2021, $bn $2.0bn $1.8bn $1.7bn $1.7bn $1.6bn $1.4bn $1.2bn 2033 2034 2035 2036 2037 2038 2039 2040 Excludes future new business 2041 2042 New business creates compounding growth Development of expected 2022 free surplus generation by cohort, FY17-FY21 $bn New business creates compounding growth Illustrative growth in free surplus generation from future new business, $bn 2022 2023 2024 2043 2044 2.3 2.3 2.2 2.0 2.0 2.0 2.1 1.7 2025 2026 2027 2028 2029 2030 2045 2046 2047 2048 2049 2.0 1.9 2031 2032 1.8 2050 2051 2052 2053 2054 2055 2056 2057 2058 Illustrative free surplus growth from future new business Expected free surplus from in-force business, 31 December 2021, $bn IIIII#72Disciplined Capital allocation Reinvesting Asia capital generation to drive growth Asia Free surplus¹ sources and uses, FY12-HY22 $bn $6bn invested new business $5bn invested in inorganic opportunities 1.6 Asia Free Surplus 31 Dec 2011 $14.0bn Asia EEV 31 Dec 2011 20.6 (5.9) (10.6) Asia in-force operating capital generation Investment in new business Remittances 72 1.Excluding distribution rights and other intangibles. 8.6 2.9 Central (0.0) Total Group 5.7 Asia Other Asia Free Surplus 30 Jun 2022 Supported inorganic investment in Asia of ~$5bn, central costs and shareholder dividends when combined with UK and US remittances $40.3bn Asia EEV 30 Jun 2022 $42.3bn Group EEV 30 Jun 2022#733.6 (1.7) Strong central liquidity Group holding company cash flow HY22, $bn 1.8 1.0 (0.2) 0.1 (0.3) (0.2) 2.1 31-Dec-21 Debt redemption Jan '22 Pro forma Net cash remitted Central & Dividend paid interest costs Central banca Other corporate fees activities, FX 30-Jun-22 . $2.1bn central liquidity 73 73 Substantial flexibility to invest in new business and strategic growth opportunities#74Impact of regulatory changes measured as at 1 January 2022 Increase in capital resources as prudence removed from liabilities and capital requirements increase as a result of risk-based approach leading to net positive impact on surplus and coverage ratio. An increase in the EEV net worth (sum of free surplus and required capital) by $4.2 billion, reflecting the release of prudent regulatory margins previously included in liabilities. And a reduction in VIF. 1 January 2022, $bn GWS² GWS shareholder capital surplus over GMCR GWS shareholder coverage ratio over GMCR Impact of Hong Kong RBC and C-ROSS II¹ +9.3 +137%p EEV Shareholder's Equity 0.2 Value in force (4.0) Free surplus 1.4 Required capital 2.8 IFRS Shareholder's Equity 0.9 Operating (non-recurring) 0.2 Non-Operating (non-recurring) 0.7 ☑ 74 More limited impact compared to EEV Net Worth because of the application of minimum floors when determining IFRS liabilities. 1. No impact of C-ROSS Phase II on EEV and IFRS. Figures have been adjusted for casting purposes. 2. Prudential applies the Insurance (Group Capital) Rules set out in the GWS Framework to determine group regulatory capital requirements (both minimum and prescribed levels).#75Impact of regulatory change on GWS position 31 December 20211 15.2 Impact of regulatory change on GWS position, GMCR basis, $bn1,2,3 Reconciliation of Group shareholder GWS position for impact of regulatory change, 31 December 2021 Capital resources 10.3 25.5 Required capital 1.0 Cover ratio: 408% 11.5 +137%p 545% 9.3 20.8 3.7 Group capital 2,3 resources Impact regulatory change Group capital resources post regulatory change GMCR Impact regulatory change 4.7 GMCR post regulatory change 2,3 Surplus over GMCR Impact regulatory change Impact of applying GPCR basis, $bn1,2,3 Surplus over GMCR post regulatory change 31 December 2021 Capital resources Required capital Cover ratio: 545% -225%p 320% 25.5 4.7 3.3 8.0 20.8 3.3 17.5 Group capital resources GMCR Adjust to GPCR basis Post regulatory change 2,3 Post regulatory change GPCR Post regulatory change 1. Prudential applies the Insurance (Group Capital) Rules set out in the GWS Framework to determine group regulatory capital requirements (both minimum and prescribed levels). 2. After allowing for the impact of the $1.7 billion debt redemption in January 2022 Surplus over GMCR Post regulatory change 2,3 Adjust to GPCR basis Surplus over GPCR Post regulatory change 75 3. Before allowing for the second 2021 interim dividend.#76Resilient regulatory GWS¹ capital generation Cover ratio: 320% 17%p (8)%p 2%p (5)%p (5)%p (4)%p 317% 17.5 GWS surplus 31 Dec 2021 GPCR Basis Post regulatory update 2,3 0.1 1.4 (0.3) (0.4) (1.8) (0.3) In-force profit New business investment Eastspring Central costs Non-operating & other capital movements Dividend paid 1. Prudential applies the Insurance (Group Capital) Rules set out in the GWS Framework to determine group regulatory capital requirements (both minimum and prescribed levels). 2. Before allowing for the second 2021 interim dividend. 3. Proforma for $1.7bn debt redemption in January 2022. 76 4. Before allowing for the first 2022 interim dividend. 16.2 GWS surplus 30 Jun 2022 GPCR Basis4#77Balanced call date/maturity profile supports financial flexibility Prudential plc: Core structural borrowings¹ 30 June 2022 US$m 1,000 500 6.875% 4.875% Next call / Maturity Schedule 2.95% 5.875% 3.125% 6.125% 3.625% 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 ■Senior Subordinated Maturity Next call Currency Coupon Issue size (m) IFRS value ($m) Perpetual 20/01/2023 10/07/2023 03/11/2033 11/05/2029 14/04/2030 19/12/2031 24/3/2032 20/1/20232 USD n/a GBP 4.875% 6.875% 750 749 Type Subordinated 300 363 Senior n/a EUR Eur CMS 20 21 Subordinated 03/11/20283 USD 2.95% 1,000 995 n/a GBP 5.875% 250 282 n/a USD 3.125% 1,000 986 n/a GBP 6.125% 435 524 n/a USD 3.625% 350 346 Subordinated Senior Senior Subordinated Senior Total Senior Bonds 1,974 Total Subordinated Bonds 2,289 Total 4,266 1. All senior and subordinated bonds included as GWS capital other than $350m senior issued in HY22. 2. Subject to regulatory consent. 77 3. Subject to regulatory consent, the company has the right to call this security for a repayment at par between 3 August 2028 and 3 November 2028.#78Transfer of Prudential shares between UK and HK share registers • • Prudential has a UK and HK share register. Shareholders can transfer Prudential shares from one register to the other, 'shunting' This can be processed in 4 business days, 2 in the UK plus 2 in HK, subject to fees London Hong Kong Held in CREST: submit Form of Request for removal of UK shares to Equiniti by email. Submit a Form of Request for removal of HK shares to Computershare and cheque for Registrar's fees and, if relevant, the corresponding share certificates. Lodge a Stock Withdrawal Instruction through CREST. Equiniti's fees in relation to shares held in CREST should be paid electronically with proof of payment provided with the removal form. HK shareholders who hold their HK shares in a CCASS account have to arrange for their HK shares to be withdrawn from CCASS in accordance with CCASS and re-register the HK shares into their own name before the removal of the HK shares can be executed. Hong Kong Once a share has been removed to the HK Branch Register, it may be deposited into CCASS and then traded on the Hong Kong Stock Exchange London Once a share has been removed to the UK register, it may be deposited into CREST and then traded on the London Stock Exchange 78 See: https://www.prudentialplc.com/en/investors/shareholder-information/transferring-prudential-shares for more information.