IFRS 17 Update

Expected Credit Losses Stage 3 Stage 2 Stage 1 Description Expected Credit Losses (ECL) Under IFRS 17 AIA $m Stage 1 Stage 2 Stage 3 Total Loss allowance as at 1 Jan 2022 152 29 26 207 Financial assets that have low credit risk at reporting date or have not had a significant increase in credit risk since initial recognition ECL net charge to net profit Derecognition Financial assets that have had a significant increase in credit risk since initial recognition but that do not have any evidence of impairment at the reporting date Other movements 97 64 72 233 (48) (25) (73) (13) (2) 6 (9) Loss allowance as at 31 Dec 2022 188 66 104 358 Financial assets that are determined to be credit-impaired at the reporting date Amortised cost of financial assets before loss allowance as at 31 Dec 2022 97,579 579 141 98,299 % of total 99% 1% 100% Note: Shown at amortised cost and does not include accrued investment income and cash and cash equivalents as the exposure to credit risk of these assets are considered insignificant 32 32

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