Strategic Expansion and Growth

Expand Presence in China Significant growth potential from higher penetration Citic-Pru footprint (Dec'19) Access to² OOO 83% NBP3 (US$'m, 100% basis) 2019 524 2015 84 +58% (CAGR) 77% 83% IFRS Profit³ (US$'m, 100% basis) 2019 438 GDP Population GWP 2015 160 +29% (CAGR) 2019 20 branches 2012 94 cities 13 branches 1.5m customers 17 Straight 'A' score for CBIRC Integrated Risk Rating since 2016 (only JV) Top 10 ranked Chinese Life Insurers by California State University since 2016 (only JV) 1st FIE to deliver local GAAP profits in under 10 years Note: FIE = Foreign invested entities 590 Multi-dimensional delivery Par Non-Par Linked H&P 51 cities 35k agents In Guangdong 2000 1 branch 1% 15% Agency / Total market share¹ 0.6m customers 2008 21% 18% 10 branches 12k agents 371 386 Geographical in-depth expansion Multi- distribution Agency / Total market share¹ CAGR: 31% 259 PRU chairmanship 198 155 115 CPL APE 88 88 Operational efficiency Building talent (50% basis, US$ m) 62 72 70 82 41 0 6 8 11 19 27 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Guangdong Shanxi Henan Anhui Sichuan Hunan Wuxi Suzhou Shaanxi Branch opening First Foreign Branch Beijing Qiangsy Shanghai Shenzhen Hubei Shandong Zhejiang Fujian Hebei Tianjin Guangxi PRUDENTIAL 1. Share among Foreign/JV players 2. 2019 data from National Bureau of Statistics 3. On a constant exchange rate basis Liaoning 21 21

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