Prudential Provides Update on Its Integration of Ownership in Prudential Assurance Malaysia Berhad

The Federal Court of Malaysia has overturned previous decisions by the High Court and the Court of Appeal, meaning Prudential will not be able to acquire the remaining 49% stake in Sri Han Suria Sdn Bhd. Prudential will continue to hold its existing 51% stake in the company, and will adjust its accounting treatment to reflect the 49% non-controlling interest in its financial results for the first half of 2024. This ruling does not affect Prudential's operational control of Prudential Assurance Malaysia Berhad or its ability to serve customers.