Maintaining a Strong, Resilient Balance Sheet

Maintain Strong, Resilient Balance Sheet Strong, Resilient Balance Sheet Financial Discipline AIA Profitable Organic Growth Prudent, Sustainable and Progressive Dividend Disciplined Inorganic Growth Return Excess Capital to Shareholders ■ Value driven approach to growth Diversification through products, risks and markets Asset-liability-matching driven investment strategy ■ In-force business with strong cash generation Shareholders' view of capital Free Surplus ■ Absorbs stress scenarios ■ Reflective of balance sheet size and risk Supports future organic and inorganic growth Free Surplus and Required Capital ($b) Free Surplus >400% Pro forma Group LCSM Cover Ratio(1) AA Financial Strength Rating(2) Required Capital $13.1b Holding Company 13.6% Leverage Ratio(3) Financial Resources Notes: For 2021 unless otherwise stated (1) (2) Pro forma assuming adoption of HKRBC and release of existing additional resilience margins Moody's (Aa2), Fitch (AA) and S&P (AA-) for AIA Co. (3) Leverage ratio defined as Borrowings / (Borrowings + Total Equity) 15 13 15 13 25 25 17 13 15 8 10 2017 2018 2019 2020 2021 Pro forma (1) As % of IFRS Total 12% 13% 12% 11% 15% Liabilities 30 50

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