1. 1 Business Ethics in a Corporate Setting Jennifer Board HR Director - Prudential UK and Europe Wednesday 2 nd September 2009

2. 2 Contents  Our heritage and brand  Core principles  Translating words into actions  Embedding behaviour  Is our approach working?

3. 3 Overview of Prudential  Prudential plc is an international financial services group with operations in Asia, the United States and the United Kingdom.  1 in every 8 people in the UK is a policyholder with Prudential.  1 in 4 deaths that occur in the UK are reported to us.  We have over £200 billion invested around the world.  One of the world’s strongest brands

4. 4 Our Brand  Our brand is our biggest asset  We aspire to be the brand people turn to first for their retirement needs  Our reputation, built over the last 160 years, is based on values of financial probity and reliability.  Our heritage is founded on an ethical approach to our business, our customers and our employees.  In a world where Financial Services organisations can be held in low esteem - people want their money looked after by people they trust.

5. 5 Our Heritage

6. 6 Code of Conduct Business Culture DOING THE RIGHT THINGS High Performing Organisation BUILDING ENGAGEMENT Our Core Principles – in a regulated world UK Regulatory Framework Beyond Compliance Corporate Responsibility ETHICAL APPROACH

7. 7 Our Behaviours - underpin the way we do business DELIVER 'Deliver' means being passionate about excellence and achievement - using our business knowledge, commitment and tenacity to achieve high-quality business results and deliver on our promises to customers. INSPIRE It's about being proud of what we do, celebrating success and supporting others to realise their potential and to deliver excellent business results and customer experiences. CHALLENGE It means showing our desire to learn and grow, adapting quickly to new challenges and using creativity and innovation to improve business results and provide the right products and services for our customers. CONNECT 'Connect' is all about being open and honest and working collaboratively as a team to achieve business results and provide an excellent experience for our customers.

8. 8 Business Ethics - more than just words LEADERSHIP Treating Customers Fairly EMPLOYEE ENGAGEMENT BUSINESS STRATEGY CULTURE HR POLICIES AND PROCESSES

9. 9 Embedding Behaviour - building performance High performance has to be about the “how” and the “what” An effective performance management framework is critical Robust approach to performance appraisal – formal ratings in June and December each year Company wide consistency against a four point rating scale Give “people managers” the core skills necessary (via “Managing for Success”) WHAT Targets Objectives HOW Behaviour Leadership Culture Right things, Right way  ? ? Confidence Clarity

10. 10 Is our approach working?  Our Voluntary Turnover rates are low compared to the market  Since April 2009, 40% of our employees have nominated a colleague for a recognition award linked to our core behaviours  Exit Interview data indicates no major concerns (70% of leavers would work for us again)  Employee absence rates are less than 2.5% of working days  Every “needs improvement” rated employee has a performance improvement plan  Internal talent is identified and developed  Our experience of employee fraud is negligible

11. 11 Prudential may be 160 years old but is still planning for the future