Investor Presentaiton

Strong Capital and Liquidity Profile 416% Athene's Available Liquidity ($B) 1 Cash & Equivalents4 $12.7 2022 Consolidated Risk Based Capital (RBC) Ratio¹ 2 AHL/ALRe Liquidity Facility5 $3.0 3 Committed Repurchase Facilities $2.0 387% 4 AHL Revolver5 $1.8 2022 U.S. RBC Ratio² 5 Available FHLB Borrowing Capacity $1.0 6 Liquid Bond Portfolio6 $57.1 407% 2022 Bermuda RBC Ratio³ Total Available Liquidity $78B 1. The consolidated risk-based capital ratio of our non-US reinsurance and US insurance subsidiaries is calculated by applying NAIC risk-based capital factors to the statutory financial statements on an aggregate basis, including interests in other non-insurance subsidiary holding companies; with an adjustment in Bermuda and non-insurance holdings companies to limit RBC concentration charges such that when they are applied to determine target capital, the charges do not exceed 100% of the asset's carrying value. 2. The CAL RBC ratio for Athene Annuity & Life Assurance Company, our parent US insurance company. 3. The risk-based capital ratio of our non-US reinsurance subsidiaries is calculated by applying NAIC risk-based capital factors to the statutory financial statements on an aggregate basis, excluding US subsidiaries and interests in other non-insurance subsidiary holding companies with an adjustment in Bermuda and non-insurance holdings companies to limit RBC concentration charges such that when they are applied to determine target capital, the charges do not exceed 100% of the asset's carrying value. 4. Relates to $12.7bn of cash and equivalents. 5. $2.5bn liquidity facility with $0.5bn accordion feature, available to AHL and Athene Life Re Ltd. (ALRe), one of Athene's largest Bermuda subsidiaries and, relates to $1.25bn revolver with $0.5bn accordion feature available to Athene Holding, Ltd. (AHL). Availability of accordion features subject to lender consent and other factors. 6. Includes $54.6bn book value of liquid public corporate bond portfolio, and $2.5bn book value of state, municipal, political subdivisions and foreign government securities. ATHENE 9

View entire presentation