Prudential Financial (PRU) Resegmentation overview presentation summary

Rationale for resegmentation

• Segments realigned to better reflect active products, resource allocation, and strategic focus.

• Discontinued Traditional Variable Annuity and Guaranteed Universal Life products now isolated in a new U.S. Legacy Products segment.

• Enhances clarity on business trends and transparency into earnings power.

• Differentiates economics of actively-sold versus discontinued products.

• Aligns segment financials with management and resource allocation practices.

Updated segment structure

• Retirement segment includes Registered Index-Linked Annuities, Fixed Annuities, and Institutional Retirement products.

• Individual Life segment now focuses on Term Life, Indexed Universal Life, and Variable Universal Life products.

• U.S. Legacy Products segment contains discontinued Traditional Variable Annuities and Guaranteed Universal Life policies.

Financial impacts and transparency

• Post-resegmentation, Retirement AOI is $2,057M with $357,150M in account value.

• U.S. Legacy Products AOI is $1,175M with $79,249M in account value and $5,653M in policyholder balances.

• Individual Life AOI is $473M for active products and $260M for legacy, with respective policyholder balances.

• Segmentation increases transparency of actively-sold versus discontinued product performance.