Investor Presentaiton

71 1.4 $66.4bn Undiscounted value 13% CAGR 2017 2018 2019 2020 2021 ■2017 & prior ■2018 ■ 2019 ■2020 ■2021 $2.3bn 2.3 Building high quality, growing capital generation Highly predictable in-force capital generation Expected free surplus generation from in-force business by year, 2022-2061, 31 December 2021, $bn $2.0bn $1.8bn $1.7bn $1.7bn $1.6bn $1.4bn $1.2bn 2033 2034 2035 2036 2037 2038 2039 2040 Excludes future new business 2041 2042 New business creates compounding growth Development of expected 2022 free surplus generation by cohort, FY17-FY21 $bn New business creates compounding growth Illustrative growth in free surplus generation from future new business, $bn 2022 2023 2024 2043 2044 2.3 2.3 2.2 2.0 2.0 2.0 2.1 1.7 2025 2026 2027 2028 2029 2030 2045 2046 2047 2048 2049 2.0 1.9 2031 2032 1.8 2050 2051 2052 2053 2054 2055 2056 2057 2058 Illustrative free surplus growth from future new business Expected free surplus from in-force business, 31 December 2021, $bn IIIII

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