Digital Transformation and Health & Wellness Journey

We provide a choice of engagement models from our proprietary Premier Agency, through our extensive range of leading banks and distribution partners, through group, corporate and SME schemes, our growing partnerships with digital platforms, and even direct to consumers for simple products. Core to serving our customers is our relentless focus on high-quality professional advice. And that's how we target and meet the immense protection and long-term savings needs in Asia. Across distribution platforms our strategic priorities are to grow scale and productivity as we deliver ever more personalised and high-quality advice. We are building on the strong capabilities and digital foundations developed over many years including iPoS, our leading point of sale system and our advanced performance management tools. Further embedding TDA is central to our ability to deliver on our ambitions for each of our key distribution channels, as we amplify our competitive advantages and drive sustainable growth. Let's start with our core channel, Premier Agency. Since IPO, AIA's agency channel value of new business has grown more than six times, and, for an unprecedented seven consecutive years, have been the number one Million Dollar Round Table company in the world. Our differentiated Premier Agency strategy is fundamental to this impressive growth with a focus on recruiting, developing and retaining our highly productive professional agents. At the heart of our strategy is our very strong value proposition for our agents built on high-quality recruitment standards, best-in-class tools and long-term career growth opportunities. These help deliver highly attractive incomes and a sustainable growth model for our agents. Our TDA strategy is designed to augment every aspect of the agency value chain, empowering agents and agency leaders every step of the way. AIA's Premier Agents are our key competitive advantage through which we are capturing the immense opportunities presented by Asia's huge and growing middle class. Our investment in TDA continues to enhance our agents' capabilities and productivity, allowing us to reach deep into the heart of Asia. Fisher Zhang - Chief Executive Officer, AIA China AIA China leverages TDA to enable us to capture the extraordinary opportunity that Mainland China presents for us. Powerful digital platforms support our high quality and differentiated agency which outperforms our major competitors by a wide margin. And we will continue to scale up our highly productive, full-time agency force as we leverage our unique opportunity and expand geographically. Our expansion strategy is ambitious as we access a 5-time increase in our target market to over 600 million potential customers. To fully leverage this opportunity, our TDA transformation is critical. We have built a scalable operating model with rapidly deployable platforms, tools and processes, backed by centralised shared services, enabling us to establish new offices and expand our Premier Agency efficiently and at scale. And our Premier Agents are able to get to work immediately, supported by our readily available digital tools and established operations. Our recent launch in Sichuan province is a great example of the power of our model. Our well-known brand and attractive agent value proposition allowed us to recruit more than 400 agents comprising over 70 per cent university graduates in just four months. And we are in process of repeating this in the next province. We recently received regulatory approval to start operations in our newest branch in Hubei, which is eighth largest province by GDP. The key to replicating and growing our Premier Agency model is the digital tools we have built and deployed across the entire agency value chain: recruitment, training, management, prospecting, sales and servicing. High adoption and the quality of these tools have driven significant increase in agent productivity and helped differentiate AIA China's Premier Agency from the industry. Page | 4

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