Financial aspiration Maximise shareholder value Return on embedded value 18.0% 16.0% Aspirational +6% 14.0% Threshold +3% Supported by Growth in 12.0% Growth in value of Risk-free rate earnings new 10.0% business 8.0% 6.0% Improve efficiencies 4.0% 2.0% 0.0% 100.0% 200.0% 300.0%