Healthier, Longer, Better Lives

Notes: Government Bond Portfolio Government Bonds (1) by Geography Total $56.3b • AIA Other Government (2) and Agency Bonds by Rating 2020 2019 Total $30.6b 2020 2019 Average Rating A+ A+ ■Mainland China 32% 29% ■ AAA 30% 30% ■ Thailand 29% 32% ■South Korea 15% 15% ■ AA 18% 19% ■ Singapore 9% 9% ■ A 30% 29% Philippines 5% 5% ■ BBB 20% 21% ■ Malaysia 4% 4% ■ Others 6% 6% ■BB & below (3) 2% 1% As of 31 Dec 2020 unless otherwise stated (1) Government bonds include bonds issued in local or foreign currencies by the government of the country where respective business unit operates Including not rated bonds (2) Other government bonds comprise other bonds issued by government (3) 19 61

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