Prudential plc — Capital/Financing Update 2019

Sep 25, 2019

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and the Singapore Exchange Securities Trading Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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(Incorporated and registered in England and Wales under the number 01397169)

(Stock code: 2378)

PROPOSED DEMERGER OF M&G PLC FROM PRUDENTIAL PLC

Prudential plc (“Prudential”) announced its intention on 14 March 2018 to demerge M&GPrudential, resulting in two separately-listed companies.

On completion of the proposed demerger, shareholders will hold interests in both Prudential and M&GPrudential, which will trade on the main market of the London Stock Exchange as M&G plc (“M&G”).

Prudential today announces that the circular in relation to the proposed demerger (the “Circular”) and the prospectus in relation to the proposed admission of M&G’s ordinary shares (the “Prospectus”) have each been submitted to the Financial Conduct Authority (the “FCA”) by Prudential and M&G respectively. A further announcement will be made once the Circular and the Prospectus have been approved for publication by the FCA, which is expected later today. Information on the proposed timetable for the demerger and about both businesses will be included in that announcement and those documents.

An analyst and investor call and online presentation for Prudential will be held at 2pm (UK time) / 9pm (Hong - Kong time) on prudentialplc.com on 26 September 2019. To register, please log in at https://www.investis live.com/prudential/5d70dd976dc5c40a00c76416/omer. Further details are below.

An investor and analyst conference for M&G will be held on 27 September 2019 at 10 Fenchurch Avenue, London, EC3M 5AG.

Enquiries:

Media Investors/Analysts Jonathan Oliver +44 (0)20 3977 9500 Patrick Bowes +44 (0)20 3977 9702 Tom Willetts +44 (0)20 3977 9760 William Elderkin +44 (0)20 3977 9215 Addy Frederick +44 (0)20 3977 9399

Notes to Editors:

Prudential analyst presentation

An analyst and investor call and online presentation will be held at 2pm (UK time) / 9pm (Hong Kong time) on 26 September 2019. The presentation will be webcast live and available to replay afterwards on - https://www.investis live.com/prudential/5d70dd976dc5c40a00c76416/omer. The presentation will be published on prudentialplc.com at approximately 1.45pm (UK time) / 8.45pm (Hong Kong time) on 26 September 2019.

Alternatively, a dial-in facility will be available to listen to the presentation. Please allow time ahead of the presentation to join the call (lines open half an hour before the presentation is due to start, ie from 1.30pm (UK time) / 8.30pm (Hong Kong time)).

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Dial-in: 020 3936 2999 (UK Local Call) / +44 20 3936 2999 (International) / 0800 640 6441 (Freephone UK). Participant access code: 714160. Once participants have entered this code their name and company details will be taken.

Playback: +44 (0) 20 3936 3001 (UK and international excluding US) / + 1 845 709 8569 (US only) (Replay code: 124823). This will be available from approximately 5.30pm (UK time) on 26 September/ 12.30am (Hong Kong time) on 27 September 2019 until 11.59pm (UK time) on 10 October / 6.59am (Hong Kong time) on 11 October 2019.

About Prudential plc

Prudential plc and its affiliated companies constitute one of the world’s leading financial services groups, serving 26 million customers, with £717 billion of assets under management (as at 30 June 2019). Prudential plc is incorporated in England and Wales and is listed on the stock exchanges in London, Hong Kong, Singapore and New York. Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.

About M&G plc

M&G plc is a leading savings and investments business which was formed in 2017 through the merger of Prudential plc’s UK and Europe savings and insurance operation and M&G, its wholly-owned international investment manager. In March 2018, Prudential plc announced its intention to demerge the company with a premium listing on the London Stock Exchange. As an independent company, M&G plc will have a single corporate identity and will continue with two customer-facing brands; Prudential for savings and insurance customers in the UK and Europe and for asset management in South Africa and M&G Investments for asset management clients globally.

Disclaimer

This announcement does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities in any jurisdiction nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, any contract therefor.

The shares of M&G have not been, and will not be, registered under the US Securities Act of 1933, as amended (the “US Securities Act”), and may not be offered or sold in the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act.

No offer of shares of M&G will be made as part of the demerger and the Prospectus will be published solely in connection with the proposed admission of M&G’s ordinary shares to the premium listing segment of the Official List and to trading on the London Stock Exchange.

M&G will shortly apply for its ordinary shares to be admitted to the premium listing segment of the Official List of the FCA and to trading on the main market of the London Stock Exchange.

By order of the Board Prudential plc Thomas S. Clarkson Company Secretary

25 September 2019, London

As at the date of this announcement, the Board of Directors of Prudential plc comprises:

Chairman

Paul Victor Falzon Sant Manduca

Executive Directors

Michael Andrew Wells (Group Chief Executive) , Mark Thomas FitzPatrick CA and Stuart James Turner FCA FCSI FRM

Independent Non-executive Directors

Sir Howard John Davies, David John Alexander Law ACA, Kaikhushru Shiavax Nargolwala FCA, Anthony John Liddell Nightingale CMG SBS JP, The Hon. Philip John Remnant CBE FCA, Alice Davey Schroeder, Thomas Ros Watjen, Jane Fields Wicker-Miurin OBE and Amy Yok Tak Yip

* For identification purposes

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