Corporate Bond Portfolio and Investment Analysis

Unparalleled Growth Platform Geographical Mix % of 1H23 VONB Malaysia 8% Singapore 8% Thailand 15% Other Markets 10% Hong Kong 31% Mainland China 28% Distribution Mix % of 1H23 VONB Product Mix % of 1H23 VONB Partnerships 25% Agency 75% Note: Based on local statutory reserving and capital requirements, before the deduction of unallocated Group Office expenses and non-controlling interests. Distribution mix excludes pension business Others 21% Unit-linked 10% Participating 29% ALA Traditional Protection 40% 43

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