Prudential Asia Prudential Asia

Conversion of VIF to Life IFRS In-force Operating ProfitApproximately 90% of ‘grossed-up’ transfers from VIF to net worth produces the IFRS in-forceOperating Profit.Transfer from VIF to net worth£463m £484m89102374 382£312m58254£’m, AERTax gross-upTransfer fromVIF to net worth£321mLife IFRS Operating Profit£416m63421 431£262m22282One-off exceptionalIFRS In-force Operating ProfitIFRS new business strainFY08 FY09 HY10(100) (78) (43)FY08 FY09 HY10IFRS in-force Operating Profit as % of Gross Transfer from VIF to net worthFY08 FY09 HY10421 / 463 = 91% 431 / 484 = 89% 282 / 312 = 90%27