Maintaining a Strong, Resilient Balance Sheet

AIA's Unique Opportunity in Mainland China Structural Growth Drivers >900 million in Target Segment Middle Class and Affluent Population by 2030E 5x Target Opportunity by 2030 Middle Class and Affluent Population (million) 627 Mainland China 0.9 billion people 1.6 ~2.4% Life Insurance Penetration in 2020 Rest of AIA Footprint >$160b Potential additional annual life insurance premium required to close the mortality protection gap in Mainland China >$2.8t Annual Healthcare expenditure forecast 2030 5x 300 10 new provinces and municipalities in focus Proven Expansion Model High-Quality Management Experienced team Strong track record Clear expansion strategy AIA Scalable Operations 74% cloud adoption with scalable infrastructure 100% digital adoption across agency value chain VONB per Agent(4) 101 Recently established (1) 226 ΑΙΑ established footprint(2) 120 2020 2030E 3% AIA China Penetration of Target Customer Segment in Established Provinces (3) Tianjin, Hebei province, Sichuan province and Hubei province Including Beijing, Shanghai, Shenzhen, Guangdong province and Jiangsu province Notes: (1) (2) (3) As of 2020 (4) (5) For 1H2021; industry statistics based on latest company reports Average income for AIA agents in 2021 vs working population; Source: National Bureau of Statistics 5x Differentiated Premier Agency Full-time professional model Long-term career development Entrepreneurial culture >1,000 recruits in recently established provinces >85% of recruits are college graduates or higher 2.6x Average income AIA agents vs working population (5) Industry AIA China 41

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