Corporate Bond Portfolio and Investment Analysis

AIA China: Prudent Investment Portfolio Cash & Cash Equivalents (2) Real Estates 3% 2% Corporate Bonds (1) 5% Equities 11% Prudent ALM Approach AIA AIA China Invested Assets Non-Par and Surplus Assets Government & Government Agency Bonds 79% ☐ Asset allocation driven by liability cash flow matching in local currency 84% of invested assets in fixed income >90% of fixed income portfolio in government and government agency bonds Bond portfolio average international rating A+ Asset portfolio well diversified with insignificant alternative assets Notes: As of 30 Jun 2023 (1) Including 1% in structured securities and loans and deposits (2) Including less than 1% in derivatives financial instruments 62 62

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