Finance and Capital Management

Capital generation framework Savings & Asset Management Expected IFRS Adj. Operating Profit Group Solvency II expected capital generation Own Funds SCR Fees Asset Management - expenses Retail Savings (incl. PruFund) Fees - expenses Change in capital requirement Shareholder Transfer & other Unwind of PVST¹ asset + new business value Release from run-off4 + addition from new business Traditional WP Shareholder Transfer Unwind of PVST asset Release from run-off4 Heritage Shareholder Annuities Return on excess assets + release of prudency margins Release of risk margin + income on surplus assets + credit margin earned on BEL² -run-off of TMTP3 Release from run-off 1. Present Value of Shareholder Transfer; unwind of PVST based on real world returns; 2. Best Estimate Liabilities; 3. Transitional Measures on Technical Provisions; 4. SCR movements include impact from run-off of hedging programme on Shareholder Transfer which negatively affects capital generation 54 54

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