The EPV of an annuity of £1 per annum payable monthly in arrear to a female life now aged 65 exact starting from the death of male life now aged 70 exact and will be payable till the lifetime of female life.
If you're only referring to the circled one, then this expression means the EPV of the monthly annuity payable while the female, currently aged 60, is alive, AND the male currently aged 70 died at least 5 years earlier. Robert