Supplementary information on ReAssure employees

In preparation of a potential Initial Public Offering (IPO) or trade sale of ReAssure, senior management employees in ReAssure were moved onto variable short- and long-term compensation schemes which differ from the API, VAI and LPP in 2019 (none of the ReAssure senior management employees are Group EC members). For reasons of talent retention, these schemes are maintained despite the decision to suspend the IPO and the subsequent agreement to sell ReAssure to Phoenix Group Holdings plc (subject to regulatory and anti-trust approvals).