Finance and Capital Management

Depth of investment expertise Values as of H1 2019 Multi-Asset Income Growth Target Return Conservative Macro Allocation £140bn £124bn Pru UK&E SAA £16bn 3rd party assets Private Fixed Income Leveraged Loans Real Estate UK Commercial Infracapital¹ & Alternatives Public Fixed Income Equities Infrastructure Equity Flexible Bond Fund Income Long Income PE Fund of Funds² Emerging Markets Value High Yield Cash Recovery Direct Lending Distressed Debt & Restructuring Multi-asset Illiquid Credit Asset Backed Securities (ABS) Residential Continental Europe Asia-Pacific Real Estate Debt Capital Solutions 27 29 Private Assets [£60bn 1. Infrastructure team; 2. PE Fund of Fund mandate of £2.2bn not induded in the reported AuM Note: All AuMA figures refer to position as of H1 2019 Absolute Return Emerging Markets Government Bonds Japan Inflation Linked Convertibles 4 138 64 14 Total AuM Σ £277bn 80

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