Overview

Prudential’s Investment Case

Delivering high quality, consistent growth and driving shareholder returns.

• Leading positions across high growth markets in Asia and Africa.
• Trusted household brand with nearly 180-year heritage.
• Balanced and scaled distribution channels.
• A unique integration of life insurance and asset management capabilities.

Note: Our dividend policy, which remains unchanged, is to grow dividends broadly in line with the Group’s net operating free surplus generation after allowing for new business investment, central costs and investment in capabilities. In addition to the ordinary dividend, the Board will now consider making additional recurring returns of capital out of the annual flow of capital generation. Capital returns will be set taking into account the Group's financial condition and prospects, applicable capital and solvency requirements, investment opportunities, market conditions and the general economic environment.

1.FY25 guidance: >10% YoY growth across New business profit, Adjusted operating profit after tax per share, Gross operating free surplus generation (OFSG) and dividend per share.

2.Growing NBP at 15-20% CAGR between 2022 and 2027, and achieving Gross OFSG of at least $4.4bn in 2027. These objectives assume exchange rates at December 2022 and are based on regulatory and solvency regimes applicable across the Group at the time the objectives were set.   The objectives assume that the same TEV and Free Surplus methodology will be applicable over the period and no material change to the economic assumptions.