Investor Presentaiton

ACTIVE PRODUCT MANAGEMENT MainTAINS RISK PROFILE AND PROFITABLE GROWTH • Market/Customer Change Yen-product profitability challenged • Low interest rates • Management Action Suspend low return products Pivot to USD products • Customer needs evolving . Innovate new products • Result Yen single pay product represents <1% (1) of total sales USD sales represent ~80%(1) of total Japan sales Two-thirds of our earnings are based on underwriting margins First of its kind USD whole life with fixed Yen premium product 1) For the six month period ended June 30, 2018. Prudential Tokyo Investor Day 9.27.2018 00 6

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