Finance and Capital Management

Customer and Distribution Expanding our proposition at home and internationally UK retail customers An established player with a unique offering, including both with-profits and asset management products Our priority: Broaden and digitise proposition • • Improving tied agents' productivity through technology upgrades Investing to enhance customer and advisor experience Leveraging PruFund as an anchor to broaden retail proposition; launched PruFolio and M&G OEICs on own platform in H1 2019 International retail customers A leading European cross-border manager Our priority: Leverage existing local presence and relationship with global banks to extend distribution reach Institutional clients One of the most highly regarded institutional asset managers in Europe and one of the market leaders in the UK • • Our priority: Expand our proven client partnership model to key institutions across and outside Europe Strengthening local distribution coverage in key institutional markets; e.g. hires in the US and Asia Adding dedicated solutions specialist resources to capitalise on the need of European insurance companies to outsource investment management post Solvency II Leverage the expanding 'Investment Engine' capabilities to broaden institutional investment proposition and tailor it to the needs of global clients . Capitalising on sub-advisory market growth • Significant wins in southern Europe • Ongoing project to distribute Pru Fund outside the UK . Customer and Distribution Transformation Investment Engine Finance and Capital Combine existing asset management and insurance expertise to establish M&G as a leading CDI provider in a maturing UK Defined Benefit market Leverage international retail distribution footprint to cross-sell institutional products and vice versa e.g. Italy has traditionally been a retail market for M&G but has added £0.5bn institutional AuM in 2017 and 2018 199

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