2021 Results and Financial Review

Solvency II ROE – revised methodology At 31 December 2021, Solvency II ROE and Solvency II RoC measures have been amended following a review of the basis of preparation The change in approach is more relevant as it: • Improves comparability of Solvency II return across Life and General Insurance business • removes distortions that would otherwise arise when the Group is temporarily holding excess capital 2020 Reported Change 2020 Restated 2021 Numerator (£m) 1,626 37 1,663 1,648 Denominator (£m) 16,578 (3,110) 13,468 14,574 Group SII ROE 9.8% 2.5% 12.3% 11.3% Group SII ROE from continuing 11.7% 10.7% Solvency RoE The denominator has been adjusted to exclude excess capital above the Group's target Solvency Il shareholder cover ratio (180%) and a consistent change has been made to exclude the return on the excess cash in the numerator In the numerator, Transitional Measures on Technical Provisions (TMTP) run-off has been replaced with the economic cost of holding equivalent capital to the opening value of TMTP operations Group ambition Growing from 10.7% to >12% over time AVIVA 48

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