2021 Results and Financial Review

Working towards top quartile efficiency Basis 2020 2021 Ambition 20245 UK&I Life Costs¹/AUM² 38bps 35bps > 30bps Aviva Investors Costs¹/ Al revenue³ 93% 86% <75% Distribution UK&I GI 36% ratio4 34% 32% Efficiency Key levers Operating model efficiency, Retirement Solutions system, cost reduction and simplification in Heritage Fund and fee simplification, improved operational efficiency and leveraging existing cost base to deliver growth Product simplification, new policy admin system, digitisation of customer journeys, offshoring Distribution Canada 34% ratio4 34% 30% Digital claims service transformation and retail personal lines systems modernisation All footnotes on pages 64-66 AVIVA 40

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