2021 VONB Performance and Strategic Highlights

Structured Security Portfolio Structured Securities by Rating AIA Rating Total ($m) Total $2.0b FY2021 FY2020 AAA 202 Average Rating BBB BBB AA 173 ■ AAA 10% 18% A 694 AA 9% 10% BBB 666 ■ A 34% 32% BB and below (1) 275 ■ BBB 33% 21% Total 2,010 ■ BB and below (1) 14% 19% Notes: As of 31 December 2021 unless otherwise stated (1) Including not rated bonds 67 20

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