IFRS 17 Impact and OPAT Analysis

AIA's Successful Growth Strategy is Unchanged Post IFRS 17 AIA Continued focus on delivering Growth, Earnings and Cash - Growth: Significant opportunity for profitable new business growth at attractive returns, active in-force management Earnings: Sustained growth in OPAT and shareholders' allocated equity driven by EV and VONB growth Cash: Prudent, sustainable and progressive dividend; returning excess capital to shareholders All key IFRS metrics improved, volatility reduced post IFRS 17 adoption - - - No impact on underlying economics of the business Key metrics of OPAT and shareholders' allocated equity for 2022 higher than under IFRS 4 High-quality sources of earnings driven by insurance contract services Net profit and shareholders' equity for 2022 significantly higher and less volatile going forward VONB, EV and free surplus remain key measures of shareholder value creation Large-Scale Profitable New Business Driving Growth, Earnings and Cash 4

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