AIG 200 Strategic Update

Life and Retirement: Life Insurance and Institutional Markets APTI reflects higher NII from favorable capital markets conditions; Life Insurance impacted by elevated mortality Life Insurance New Business Sales ($M) Premiums and Deposits ($M) APTI ($M) $109 (-11% vs. 1Q20) $1,131 (+6% vs. 1Q20) ($40) (-151% vs. 1Q20) New Business Sales Mix 1Q21 vs 1Q20 APTI reflects Favorable impacts from: Equity markets resulting in higher alternative investment income from strong private equity returns Lower interest rates and tighter credit spreads in 1Q21 drove higher call and tender income and FVO bond income 40% 45% ■Domestic (U.S.) Unfavorable impacts from: 55% 60% Elevated mortality principally due to COVID-19 International 1Q20 1Q21 1Q21 vs 1Q20 APTI reflects Favorable impacts from: Equity markets resulting in higher alternative investment income driven by strong private equity returns Lower interest rates and tighter credit spreads in 1Q21 drove higher call and tender income and FVO bond income Other Key Metrics Premiums and deposits decreased primarily due to high PRT and OGIC activity in the prior year quarter Institutional Markets APTI ($M) $142 (+89% vs. 1Q20) Premiums and Deposits ($M) GAAP Reserves ($B) $26.8 $24.3 $976 $7.8 $124 $6.9 $0.1 $59 $0.6 $2.4 $80 $2.1 $1 $5.1 $26 $4.9 $696 $13 $6.6 $8.0 $41 $97 1Q20 $3.3 $3.4 $(1) 1Q21 1Q20 1Q21 - SS ■ PRT COLI/BOLI ■ HNW ■ SVW - GIC AIG Reserves grew, notably in PRT and GIC businesses Definitions: SS = Structured Settlements | PRT = Pension Risk Transfer | COLI/BOLI = Corporate and Bank-owned life insurance | HNW = High Net Worth | SVW = Stable Value Wrap | GIC Guaranteed Investment Contracts. 12

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