Investor Presentaiton
Pacific Life Mortgage Loan and Real
Estate Portfolio Highlights
Portfolio strategy
Mortgage loan and real estate emphasis is on properties in high "barrier to entry"
locations and regions exhibiting strong demographic and economic trends
Loan underwriting at origination emphasizes high debt coverage ratio and low loan-to-
value
Mortgage loan and real estate profile
As of September 30, 2022, total carrying value of mortgage loans and real estate was
$18B. Mortgage loans primarily consist of commercial mortgage loans
• Overall portfolio loan-to-value remains strong at 61% as of September 30, 2022, a slight
decrease from 63% at year end 2021
The real estate mortgage portfolio is backed by high quality assets that are operated by
owners with proven track records. As of September 30, 2022,
Apartments
41%
Pacific
30%
.
4% of the mortgage portfolio loans are engaged in deferral of scheduled principal
amortization
All mortgage payments are current
•
$0.5M mortgage loan losses year to date
Regions consistent with the American Council of Life Insurers (ACLI) geographic regions
PACIFIC LIFE
Office
23%
Atlantic
32%
Property Type
9/30/22
Stat CV
$18.1B
Retail
16%
Lodging
8%
Agriculture
6%
Industrial
4%
Other
1%
Residential
1%
Geographic Region¹
North Central
13%
9/30/22
Stat CV
$18.1B
Mountain
10%
South Central
7%
New England
7%
Canada
1%
PLGFII Investor Presentation (Q3 2022)
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