Finance and Capital Management

What drives our business Managed for profitable growth Sustainable value creation Includes all open products Unique proposition expanding beyond PruFund Continued strong inflows despite volatile market Embedded growth of PruFund earnings Comprehensive offering in active asset mgmt. Established track record of product innovation Playing at scale across Europe Savings & Asset Management Heritage £210bn £131bn Retail Savings (incl. PruFund)¹ Traditional With-Profits With-Profits Fund Retail Asset Management Leading solutions and private assets offering Diversified capabilities built over 20+ years Attractive and resilient management fees² Institutional Asset Management Shareholder Annuities Corporate Pensions and Other Managed for capital and efficiency Sticky assets, earnings and cashflows Closed to new customers Integral to the WPF³ providing investment scale | Stable earnings contribution for 10+ years4 Stable earnings and capital generation Potential upside from management actions Financial play providing strategic optionality Mostly unit-linked products Closed to new schemes but open for top-ups 1. Includes a small amount, £4bn, of non With-Profits AuMA; 2. Performance fees account for a minimal part of Institutional Asset Management income (£15m in FY 2018); 3. With-Profits Fund; 4. Assuming normal financial market development and policyholder behaviour Note: All AuMA figures refer to position as of H1 2019 8

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