IFRS 17 Impact and OPAT Analysis

1. Insurance Service Result AIA's Growth Strategy Has Delivered a Large Stock of Future Profits AIA Insurance Contract Liabilities Net of Reinsurance ($b) As at 1 Jan 2022 (Transition Date) 206.0 Insurance Liabilities Net of DAC and Reinsurance 208.4 CSM 52.9 RA 2.9 BEL 152.5 Contractual Service Margin (CSM) of $52.9b represents a large stock of expected future profits from in-force business Key driver of OPAT and shareholders' allocated equity growth Profitable new business to drive sustained OPAT growth Best Estimate Liabilities (BEL) is the present value of best estimate policy net cash flows from in-force business Risk Adjustment (RA) is an explicit allowance for non-financial risk over and above the best estimate assumptions Discount rates are based on current risk-free rates plus an illiquidity premium, consistent with observable market prices IFRS 4 IFRS 17 Notes: Due to rounding, numbers presented in the chart may not add up precisely IFRS 17 insurance contract liabilities are presented net of insurance contract assets and assets for insurance acquisition cash flows to be consistent with IFRS 4 insurance contract liabilities net of DAC, value of business acquired and upfront reinsurance premium rebate 8

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