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Investor Presentaiton

35 Quality & resilience Cover ratio: GWS shareholder capital position 31 December 2021 - 30 June 2022, $bn¹ 545% 548% 320% 317% Strong & resilient GWS capital position Macro sensitivities remain low post regulatory changes Risk appetite: above 150% on shareholder GPCR basis 25.5 25.5 23.7 23.7 Surplus: 20.8 19.4 17.5 16.2 4.7 2021 GMCR2,3 ■Capital resources ■Required capital 8.0 7.5 4.3 HY22 GMCR5 2021 GPCR 2,3 HY22 GPCR5 Post regulatory update4 GWS capital position highly resilient to macro shocks 30 June 2022, GWS shareholder cover ratio, GPCR basis 1,5,6 Base position Equity +10% Equity -20% Rates -50bps Rates +100bps Credit spreads +100bps 317% 312% -5%p 307% -10%p 320% 3%p 291% -26%p 307% -10%p 1. Prudential applies the Insurance (Group Capital) Rules set out in the GWS Framework to determine group regulatory capital requirements (both minimum and prescribed levels). 2. Proforma for $1.7bn debt redemption in January 2022. 3. Before allowing for the second 2021 interim dividend. 4. Updated for the Impact of Hong Kong RBC and C-ROSS II. 5. Before allowing for the first 2022 interim dividend. 6. The Group's retained economic interest in Jackson Financial Inc is assumed to be unchanged in the sensitivities. The sensitivity results assume instantaneous market movements and reflect all consequential impacts as at the valuation date.
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