Investor Presentaiton

Impact to KPIs (cont'd) CSM Shareholder's equity ROE a.s.r. Admiral Group PLC Not commented Not commented Expected to be lower compared to SII, mainly due the application of the CSM ► Greater than IFRS 4 equity Not commented ► Expected (one-off) reduction in equity on transition Ageas CSM valued at locked-in rates (BBA) or current rates (VFA) Operational variance for future service accounted for in CSM ►Limited impact of transition on equity excl. unrealized gains and losses Measures still relevant under IFRS 17 ► Not commented Not commented Not commented Financial leverage ratio Allianz New KPI, CSM at inception before non- attributable cost and reinsurance, and excluding investment contracts and PAA business ► Comprehensive SH capital incl, net CSM Decrease when incl. OCI,- stable at transition excl. OCI Aviva ►Stock of future profit to be a key measure of future value = CSM plus risk adjustment ►Including CSM broadly equivalent to Solvency II own funds No impact IFRS financial leverage to be considered in relation to comprehensive equity ►Slightly higher ➤Improvement due to the inclusion of CSM at the denominator Not commented ► Continuing to view leverage on a Solvency II basis 27 Market updates on impact of IFRS 17 and IFRS 9 EY

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