B. GROUP FINANCIAL RESULTS 2021 L/H: investment margin very good at EUR 4.4bn Investment margin Economic reinvestment yield 2020 2021 (debt securities; in %) 1 1.6 1.7 Based on Ø book value of assets (EUR bn) 627 648 Current yield 2.86% 2.96% Based on Ø aggregate policy reserves (EUR bn) 490 510 Current yield 3.66% 3.76% 2020 2021 Net harvesting and other2 0.53% 0.47% 5 Total yield 4.18% 4.23% Duration - Ø min. guarantee3 1.85% 1.76% 11.4 11.5 11.3 11.1 Gross investment margin (in %) 2.34% 2.47% 4 - Profit sharing under IFRS 1.48% 1.60% Investment margin (in %) 0.86% 0.87% Assets Liabilities Investment margin (EUR mn) 4,194 4,440 2020 2021 1) Asset base under IFRS which excludes unit-linked, FVO and trading 4) Includes bonus to policyholders under local statutory accounting and deferred premium refund under IFRS 2) Other comprises fair value option, trading and F/X gains and losses, as well as investment expenses 5) The durations are based on a non-parallel shift in line with SII yield curves and scaled by 45 3) Based on technical interest Fixed Income assets. Data excludes internal pensions residing in the L/H segment. B 27