Corporate Bond Portfolio and Investment Analysis

Corporate Bond Portfolio by Rating Rating ($b) Par (1) Business Non-Par and Surplus Assets Corporate Bonds by Rating Total AAA 0.6 0.2 0.8 AIA 1H23 FY22 Average Rating A- A- AA 3.2 2.3 5.5 ■ AAA 1% 1% A 21.8 12.5 34.3 ■ AA 7% 7% BBB 21.2 12.3 33.5 Corporate Bonds $76.8b ΠΑ 44% 44% ■ BBB 44% 45% BB and below (2) 0.7 2.1 2.8 BB and below (2) 4% 3% Total 47.5 29.3 76.8 BBB+ 5.7 BBB 3.8 BBB- 2.8 Notes: As of 30 Jun 2023; Due to rounding, numbers presented in the table may not add up precisely Total 12.3 (1) (2) Including participating funds and other participating business with distinct portfolios Including not rated bonds 59

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