2021 VONB Performance and Strategic Highlights

High-Quality New Business Growth Delivering Attractive Returns AIA VONB ($m) 3,366 2,849 +18% 2020 VONB Margin Movement +2.9 pps 59.3% +1.3 pps +2.0 pps +0.2 pps +0.3 pps 52.6% 2021 2020 VONB Margin Product Mix Geographical Mix Channel Mix Reduced Acquisition Expense Others 2021 VONB Margin Overruns VONB by Product Mix (1) Others 10% Unit-linked 14% 57% Traditional Protection 19% Participating Notes: VONB comparative is shown on a constant exchange rate basis (1) Product mix for 2021 reflects minor changes to product categorisation compared to 2020 10% 9% PVNBP Margin by Product(1) 15% 14% 2020 2021 8% 8% 7% 7% 7% 6% Overall Traditional Protection Participating Unit-linked Others 16

View entire presentation