Tokyo Investor Day

HIGH RETURN BUSINESS International Insurance Historical Earnings (1) & ROE (2) Capital Redeployed Total Earnings less Capital Redeployed Earnings (1) ($ billions) 25.5% 26.6% ROE 24.3% 22.0% 20.4% 19.4% 16.6% 17.9% 18.7% $2.4 $2.4 $2.3 $2.0 $1.7 $1.4 $1.2 $1.2 $1.0 2007 2008 2009 2010 2011 2012 2013 2014 2015 Avg. JPY/USD FX Rate: Avg. JGB 10 Yr: 118 103 94 88 80 80 98 1.68% 1.49% 1.35% 1.18% 1.12% 0.86% 0.71% 106 0.55% 121 0.36% Ann. Nikkei % A: (-1%) (-42%) +19% (-3%) (-17%) +23% +57% +7% +9% 1) Not adjusted for market driven and discrete items. Represents after-tax results based on pre-tax AOI tax effected using the overall effective tax rate of PFI for 2015 and the former FSB for periods prior to 2015. 2) Return on equity (ROE) based on after-tax AOI using an overall effective rate for Prudential Financial, Inc. (PFI) for 2015 and for the former Financial Services Businesses (FSB) for periods prior to 2015, based on average attributed equity excluding accumulated other comprehensive income and adjusted to remove the impact of foreign currency exchange rate remeasurement. Prudential Tokyo Investor Day 9.15.2016 3

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