Investor Presentaiton

STRONG CAPITAL GENERATION AND REDEPLOYMENT Stable redeployment of 60+% of International after-tax AOI through various means 63% ($ in billions) 62% 61% 62% $1.4 $1.4 $1.3 $1.3 2014 2015 2016 2017 Net Capital Redeployed Payout Ratio (1) 1) Reflects net capital redeployed, including the impact from dividends, debt repayment, affiliated lending, affiliated derivatives, and reinsurance, as a percentage of reported after-tax AOI using International Insurance's tax rate. Excludes acquisitions/dispositions and other extraordinary items. Prudential Tokyo Investor Day 9.27.2018 11

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