Slide 1: Aviva Wealth In Focus
Aviva: Confidential
Slide 2: Disclaimer & important information
Disclaimer & important information Cautionary statements This document should be read in conjunction with the documents distributed by Aviva plc (the ‘Company’ or ‘Aviva’) through The Regulatory News Service (RNS). This announcement contains, and we may make other verbal or written ‘forward-looking
Slide 3: Welcome and Wealth In Focus introduction
Welcome and Wealth In Focus introduction Group CEO UK&I IWR Wealth & Advice MAVIVA 3)
Slide 4: Wealth is central to Aviva's strategy
Wealth is central to Aviva’s strategy Huge opportunity Material and growing in the UK market! business for Aviva? £4.3tn £147bn 10 years Assets under Administration posattedey £9.1bn Net Flows 2.7X | 10% £124m Growth CAGR Operating Profit Critically important for the Group? Customer acquisition engi
Slide 5: Overview of our Business and the Market
Overview of our Business and the Market AVIVA WEALTH yy r= & MAVIVA 5
Slide 6: Key messages
Key messages Strong franchise with £147bn of assets and real growth momentum Already a leading player by assets and net flows, with excellent Workplace and Adviser Platform businesses and a big opportunity to do more with Advice and Direct Wealth Well positioned to capitalise on highly attractive st
Slide 7: Strong franchise with leading businesses and real growth momentum
Strong franchise with leading businesses and real growth momentum AuA2, £bn NetFlows,£bn Customers,m Market position? ? Administration of employee 937/£100bn 5.3 44 #1 pension schemes H1 2023 . . byAuA Profitable, growing _ ; businesses . Digital platform for advisers to #2 Adviser Platform manage c
Slide 8: Highly attractive growth market driven by fundamental societal needs
Highly attractive growth market driven by fundamental societal needs . UK Wealth 2.7x CAGR Shift from DB to DC & auto-enrolment market AuA¥ (£tn) 10% CAGR y 10 years c.11m people contributed £100bn+ to their workplace pensions in 2021" 4.3 . » c.8% Inter-generational wealth transfer £5.5tn expected
Slide 9: Leading player with unique opportunity within our customer base
Leading player with unique opportunity within our customer base A leading player on assets and net flows Significant opportunity with our customer base AUuA, 2022! (£bn) Net Flows 148 10 Aviva customers in the UK2, of which 147 over 6m are mass affluent? 9 144 8 6 2 c.£6bn Opportunity to recapture o
Slide 10: Well positioned to capitalise on the growth opportunity
Well positioned to capitalise on the growth opportunity Building a Connected Wealth proposition @>@> ® Grow personal Transition to wealth retirement P Adviser batilge Platform i) e 8 Customer experience & engagement (MyAviva) Income in retirement Bl AYIYA Investment Solutions FNZMM Technology Platfo
Slide 11: 5-year ambition to reach £250bn+ assets and £280m+ profit
5-year ambition to reach £250bn+ assets and £280m+ profit Strong growth momentum Big growth ambitions for the future Aviva historical AuA (£bn) Aviva AuA ambition (£bn) £400bn+ 9% >10% CAGR CAGR a _ a scone £147bn £128bn £147bn £113bn 2019 2020 2021 2022 2022 5-yearambition 10-year ambition Net Flow
Slide 12: Consistently delivering good customer outcomes
Consistently delivering good customer outcomes Offering customers good value for money Supporting our customers with care Communicating with empathy to our customers with language 0 that is easy to understand /N4. Already passing through all interest aul paid on cash balances to our customers =\ Con
Slide 13: Four priorities to deliver our ambition
Four priorities to deliver our ambition Rounding out with Leading from #1 Outperforming in Scaling advice Direct Wealth and Work tare osition Adviser Platform esbapiliypwiai gine une niene P P Succession Wealth from Connected Wealth MAVIVA 13
Slide 14: Leading from #1 Workplace position
@ Leading from #1 Workplace position AVIVA ' WEALTH yy r= & MAVIVA 14
Slide 15: At scale Workplace business, already delivering strong profit growth
At scale Workplace business, already delivering strong profit growth Aviva Workplace operating profit (£m) (mi) Critically important for the Group with 4.4m _ customer base and £100bn in assets 20% oo CAGR “fe @ Profitable and growing business 53 &) Leading player in a significant, high-growth marke
Slide 16: Performing a critical role for our Wealth ambition and the Group
Performing a critical role for our Wealth ambition and the Group Customer acquisition & engagement engine 4.4m Workplace customers, growing at c.7% CAGR since 2019 31% Workplace customers under 35 years old 1.4m Workplace customers with 2+ Aviva policies Critical part of our Corporate proposition 21
Slide 17: Structural growth market with significant upside potential
Structural growth market with significant upside potential Market expected to grow 3x, fuelled by contributions Market Aud! (£bn) HB Net contributions (2023 onwards) AuA growth (2012-2022) & investment return (2023 onwards) 2022: Russian invasion of Ukraine & 10%+ market fall 2018-19: Increase in au
Slide 18: Clear market leader with scale advantage
Clear market leader with scale advantage Stand-out #1 player by assets Scale positions across all market segments Market share by AuA’, 2022 Aviva 2022 market 2022 market AuA2 share / rank by AUA? BIAVIVA c.£250bn c.25% Scottish Widows c.£100bn c.20% L&G Small <100 members Standard tfe c.£250bn #1 A
Slide 19: Leading proposition for employees, employers & intermediaries
Leading proposition for employees, employers & intermediaries Value-added offerings for employees Leading workplace app Pension snapshot and self-serve ae 2m registered customers ESG-tilted investments Award-winning My Future Focus default fund Al-led pension tracing with Fabric, and non-advised gui
Slide 20: Scalable operating model with technology at the core
Scalable operating model with technology at the core Optimised technology architecture User interface (In-house) MyWorkplace Leading, 4.3* rated workplace app with full range of functionality for employees salesforce Back-office & Support (3 party) FNZM >) Salesforce is our CRM tool of choice, with
Slide 21: Delivering resilient, profitable growth
Delivering resilient, profitable growth Resilience in challenging environment Building growth momentum and operating leverage AuA(£bn) 2019 2020 2021 2022 CAGR 48 100 £100bn ae RBA AuA fbn 71 81 95 93 9% 95.4 Net Flows bn 4.8 5.3 5.0 5.8 6% (8.5) «| Net Revenue £m 249 307 318 316 8% [bps] 39 40 36 3
Slide 22: Outperforming in Adviser Platform
2) Outperforming in Adviser Platform AVIVA ' WEALTH yy r= & MAVIVA 22
Slide 23: Fast-growing and profitable Adviser Platform business
Fast-growing and profitable Adviser Platform business Aviva Adviser Platform AuA (£bn) 10% —————_> CAGR 40 39 32 2020 2021 2022 Net Flows£bn 3.4 5.4 3.8 Underlying Profit sm 20 23 23 G) @) Outgrowing peersin a high-growth market Differentiated proposition, #1 choice for advisers and their customers
Slide 24: High-growth market, with Aviva outperforming peers
High-growth market, with Aviva outperforming peers Platforms are a rapidly growing segment Top 2 player by Net Flows Advised market AuA! (£bn) Cumulative Net Flows, Market Share by AuA?: 2022 vs. 2018 2 2,310 2018-22? (£bn) Other players Transact 9.6% +1.1ppt 780 du SUP, Royal Londot aC h Widow BIAV
Slide 25: Differentiated proposition that is winning with advisers
Differentiated proposition that is winning with advisers a Unmatched ESG capabilities AVIVA GUIDE TO ESG Strong value for money #1 Ranked #1 in “value for money” by advisers, enhancing By number our platform through new ‘non-standard’ features of adviser relationships* Seamless adviser experience ES
Slide 26: Scalable model with leading technology
Scalable model with leading technology Optimised technology across all layers Material benefits of our model User interface (In-house) = W Leading integrations with 25+ providers Aviva Connect (for advisers) MyAviva (for customers) Seamless customer experience in MyAviva app Back-office & salesforce
Slide 27: Well positioned to become a material profit contributor
Well positioned to become a material profit contributor Strong growth momentum Growing profits while investing in the business 2020 2021 2022 CAGR 2020 2021 2022 2020-22 Net revenue £m 68 84 87 13% AuAsbn 32 40 39 bps) 2 2 2 fo Expenses £m 57 72 73 [bps] 19 20 18 13% Net Flows£bn 3.4 5.4 3.8 Operati
Slide 28: Scaling advice capability with Succession Wealth
3) Scaling advice capability with Succession Wealth AVIVA ' ’ WEALTH y r= & MAVIVA 28
Slide 29: Creating a leading advice capability with Succession Wealth
Creating a leading advice capability with Succession Wealth Advice will strengthen our Wealth franchise Completed acquisition of leading advice consolidator in 2022 Growing customer need for advice in transition to Gy, retirement SUCCESSION WEALTH 230 c.£9bn (2) Material opportunity to stem outflows
Slide 30: Laying foundations and building real momentum
Laying foundations and building real momentum Growing our advice capability Driving internal lead generation +£1bn +73 AuA from 2 acquisitions New planners since Aviva ownership in last 12 months (>) Increased marketable customers by 300k to 8m YTD (>) Identifying high propensity customers through t
Slide 31: Strong platform for growth with our new dual advice offering
Strong platform for growth with our new dual advice offering Resilient SW performance in a challenging market 2021 2022 Assets under Advice £bn 8.2 9.3 Net Flows £bn 0.2 (0.2) Revenue tm 81 84 EBITDAEm 14 15 (>) Demonstrating resilience as we provide advice and reassure customers during turbulent ma
Slide 32: Rounding out with Direct Wealth and Connected Wealth
4) Rounding out with Direct Wealth and driving advantage from Connected Wealth AVIVA ' WEALTH r= & MAVIVA 32
Slide 33: Investing to bring it together for our customers
Investing to bring it together for our customers e) @ Key investment priorities rch iti to Rounding out our proposition C@ with Direct Wealth and bridging the hybrid advice gap Pension consolidation 4 Fabric. ‘ Leading through innovation -(®)- across early investing, pension consolidation and retire
Slide 34: Differentiated Direct Wealth offering bridging gap in hybrid advice
Differentiated Direct Wealth offering bridging gap in hybrid advice Clear customer All of your wealth Hybrid advice & Comprehensive need in one place coaching ‘on demand’ investment solutions Investment calculator £360bn as0.62 Direct Wealth market size!, 2022 13m+ Customers in the UK advice gap? 36
Slide 35: Innovating across the customer lifecycle
Innovating across the customer lifecycle Early-stage investing with Wealthify S wealthify Digital-first Robo-advice offering for customers without an adviser Tailored Range of investment plans, built by experts Affordable SiS Simple fee and low ny investment threshold Engage customers early Non-advi
Slide 36: Building seamless, engaging and personalised customer experience
Building seamless, engaging and personalised customer experience ww Retirement planning & a — ( oe - ) Pension consolidation AVIVA SUCCESSION INVESTORS WEALTH Moments ml that matter mae BIAVIVA MAVIVA 36
Slide 37: Key takeaways
Key takeaways Wealth is central to our strategy Already a leading player by assets, with excellent Workplace and Adviser Platform businesses Building a Connected Wealth proposition to capitalise on the highly attractive growth market, with a significant opportunity with our existing customer base 5-
Slide 38: Appendix
Aviva: Confidential
Slide 39: UK Wealth market landscape
UK Wealth market landscape Non-exhaustive view of market landscape UK market sizel Workplace (excl. Unbundled) Direct (02¢ platforms) Hybrid Advice (incl. customisable model portfolios) Advised (excl. Private Bank) scomrisn wibows Standard Life LEGON £420bn +12% 2022 10-year CAGR interactive HARGREA
Slide 40: Footnotes (1/2)
Footnotes (1/2) Slide Reference | Footnote rn ‘va analy of market sources nung Broadidge UKOC Navigator, Fundscape, Patou, HMRC and Company reports ‘ 2 Allfigures as at FY22 unless otherwise stated rn ‘Alfigues rat P22 ules otherwise ated 7 a Refers to Assetsunder Adminstration thoughout presentatio
Slide 41: Footnotes (2/2)
Footnotes (2/2) Slide Reference Footnote 29 1 Planners include restricted advice and independent financial advisors 30 1 Including restricted advice planners from merger with Aviva Financial Advice 31 1 Based on £250k invested through SIPP/ISA into Aviva Investors MAF (Core/Plus) onto Aviva platform