Corporate Bond Portfolio and Investment Analysis

Geographical Market Performance AIA Hong Kong ($m) VONB 1H23 681 1H22 CER AER Singapore ($m) 1H23 1H22 CER AER 323 +111% +111% VONB 173 161 +5% +7% VONB Margin ANP 56.9% 69.3% (12.4) pps (12.4) pps VONB Margin 65.0% 65.9% (0.9) pps (0.9) pps 1,165 443 +163% +163% ANP 267 244 +7% +9% TWPI OPAT 5,594 5,404 +4% +4% TWPI 1,981 1,800 +8% +10% 1,066 1,134 (6)% (6)% OPAT 344 337 (1)% +2% Mainland China ($m) 1H23 1H22 CER AER Malaysia ($m) 1H23 1H22 CER AER VONB 601 563 +14% +7% VONB 170 161 +10% +6% VONB Margin 50.3% 67.4% (17.2) pps (17.1) pps VONB Margin 64.8% 67.2% (2.4) pps (2.4) pps ANP 1,195 835 +53% +43% ANP 261 239 +14% +9% TWPI 4,992 4,509 +18% +11% TWPI 1,284 1,248 +7% +3% OPAT 833 840 +7% (1)% OPAT 170 188 (5)% (10)% Thailand ($m) 1H23 1H22 CER AER Other Markets ($m) 1H23 1H22 CER AER VONB 327 260 +28% +26% VONB 212 207 +8% +2% VONB Margin 91.5% 83.8% +7.7 pps +7.7 pps VONB Margin 28.6% 29.1% (0.6) pps (0.5) pps ANP 357 311 +17% +15% ANP 739 706 +11% +5% TWPI 2,051 1,989 +5% +3% TWPI 3,398 3,618 (1)% (6)% OPAT 496 498 OPAT 346 374 (1)% (7)% 42 42

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