Soaciaboacicsaaacracroocrogocraciab N V' N CO sr N V' N N I— N CO sr N CO , r N Non-HK Total Asia VNB growth / % i. / "" Source: Ooutsche Bank ostirnaies. Company dote Upside to target based on weighted peer sum of the parts -10% -5% 0% 1 5% I 10% -I 15% i 1 20% 25% 1 4.1 ce 4" 0% c