Investor Presentaiton

Underlying earnings to Net Income: not more volatile Underlying Earnings to Net Income Net Realized Capital Gains Mark-to-market incl. Derivatives IFRS4/IAS39 IFRS17/IFRS9 IFRS4/IAS39 IFRS17/IFRS9 Changes in financial flows Participating Savings Business¹ P&L 1 CSM OCI/P&L 1 CSM Non-Participating L&S, P&C and Health 'Vanilla' Fixed Income² P&L P&L OCI OCI Listed Equity Real Estate P&L 2 OCI OCI Non-recyclable OCI Non-recyclable 1 Net Income no longer impacted by Participating Savings business 2 Listed equity to flow to Shareholders Equity Investment funds accounted for through P&L Hedge Accounting Increased eligibility of derivatives, reducing accounting volatility in P&L Expected Credit Losses Not expected to be material, reflecting the quality of the investments' portfolio P&L P&L Off Balance Sheet Off Balance Sheet No changes to non-financial flows Investment Funds & P&L P&L OCI/P&L Other³ (incl. Private Equity) 3 P&L Restructuring & integration costs, exceptional operations and goodwill Lower volatility of NI Higher volatility of NI No impact on NI volatility 29 IFRS17 Presentation | November 3, 2022 All notes are on pages 38-41 Back to Agenda AYA

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