Investor Presentaiton

General Insurance: 1.0 pts improvement in AYLR results; COVID-19 impact of $272M included in CATS ($ in millions) 1Q19 1Q20 Net premiums written $6,033 $5,921 Net premiums earned $6,713 $6,079 Loss and loss adjustment expense Catastrophe Losses, Net of Reinsurance ($M) 1Q20 Impact of COVID-19 $419 $272 4,233 4,059 Acquisition expenses 1,462 1,331 General operating expenses $214 839 776 $149 $175 Underwriting income (loss) $179 ($87) Net investment income $1,089 $588 $17 Adjusted pre-tax income $205 $123 $1,268 $501 $158 Exclude: Impact of COVID-19 ($272) Adjusted pre-tax income (ex. COVID-19) $1,268 $773 1Q19 North America 1Q20 International Calendar Year Combined Ratios 1 Accident Year Combined Ratios (excl. CATs) walk AYCR, as adjusted, 97.4% 2.7% 12.5% 21.8% 101.5% 6.9% 12.8% 96.1% 21.9% 1.0% 34.3% improved 0.6 pts 95.5% (0.4%) 34.7% 61.8% 60.8% 61.8% AYLR, as adjusted improved 1.0 pts 60.8% -1.0% 1Q19 -0.9% 1Q20 1Q19 AYLR UW Actions/Mix Expense Ratio 1Q20 ■AYLR, As Adj. Acq. Ratio ■GOE Ratio ■PYD Ratio ■CAT Ratio ■AYLR, As Adj. Expense Ratio 1) Calendar year combined ratio includes adjustments for ceded premium under reinsurance contracts and other in 1Q19 and 1Q20. AIG 11

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