AIG 200 Strategic Update

Non-GAAP Reconciliations Return on Common Equity (in millions) Return On Common Equity Computations Actual or Annualized net income attributable to AIG common shareholders (a) Actual or Annualized adjusted after-tax income attributable to AIG common shareholders (b) Average AIG Common Shareholders' equity (c) Less: Average AOCI Add: Average cumulative unrealized gains and losses related to Fortitude Re funds withheld assets Less: Average DTA* Average adjusted common shareholders' equity (d) ROCE (a+c) Adjusted return on common equity (b+d) Quarterly 1Q20 1Q21 $ 6.968 $ 15.476 59 59 420 $ 3.692 62,439 $ 64,036 1,994 9,989 3,452 8,756 7,723 $ 51.689 11.2% $ 49.776 24.2% 0.8% 7.4% General Insurance (in millions) Quarterly 1Q20 1Q21 Adjusted pre-tax income $ 501 $ 845 Life and Retirement (in millions) Adjusted pre-tax income Quarterly 1Q20 1Q21 $ 601 $ 941 Interest expense on attributed financial debt 146 145 Interest expense on attributed financial debt 75 70 Adjusted pre-tax income including Adjusted pre-tax income including attributed interest attributed interest expense 355 700 expense 526 871 Income tax expense 85 161 Income tax expense 101 172 Adjusted after-tax income $ 270 $ 539 Adjusted after-tax income 425 $ 699 Dividends declared on preferred stock 3 3 Dividends declared on preferred stock 2 2 Adjusted after-tax income attributable to common shareholders (a) $ 267 $ 536 Adjusted after-tax income attributable to common shareholders (a) S 423 $ 697 Ending adjusted segment common equity $ 24,934 $ Average adjusted segment common equity (b) 24,997 25,265 25,155 Ending adjusted segment common equity $ 20,148 $ 20,226 Average adjusted segment common equity (b) 18,974 19,699 Return on adjusted segment common equity (a+b) 4.3 % 8.5 % Return on adjusted segment common equity (a+b) 8.9 % 14.2 % Total segment shareholder's equity $ 24,417 $ Less: Preferred equity 192 Total segment common equity 24.225 26,039 196 25,843 Total segment shareholder's equity $ 22,809 $ 26,568 Less: Preferred equity 134 136 Total segment common equity 22,675 26,432 Less: AOCI (709) 728 Less: AOCI 2,527 8,366 Add: Cumulative unrealized gains and losses related to Add: Cumulative unrealized gains and losses related to Fortitude Re funds withheld assets 150 Total adjusted segment common equity 24.934 $ 25.265 Fortitude Re funds withheld assets Total adjusted segment common equity 2,160 $ 20.148 $ 20.226 AIG * Represents deferred tax assets only related to U.S. net operating loss and foreign tax credit carryforwards on a U.S. GAAP basis and excludes other balance sheet deferred tax assets and liabilities. 24

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