Investor Presentaiton

Life and Retirement: Life Insurance impacted by adverse mortality primarily from COVID-19 ($ in millions) Premiums and deposits Premiums Policy fees 2Q19 2Q20 $1,032 $1,071 425 447 381 375 Net investment income 335 280 Other income¹ 13 11 Total adjusted revenues 1,154 1,113 ◉ Benefits, losses and expenses 1,068 1,122 Adjusted pre-tax income $86 ($9) Key Takeaways APTI decrease from 2Q19 is driven by higher mortality trends due to adverse impacts from COVID-19 and private equity losses related to 1Q20 market levels Continued premiums and deposits growth driven by term, universal life and international life products New business sales reflect underwriting actions and U.S. industry sales channel disruptions resulting from COVID-19, partly offset by strong growth in international group sales AIG By Product $135 $134 27% 48% 25% 48% 19% 33% New Business Sales ($M) 2Q19 2Q20 ■ Term ■Universal Life Group and Other Life By Geography $135 $134 39% 51% 61% 49% 2Q19 2Q20 ■ US ■ UK 1) Includes other income primarily related to commission and profit sharing revenues received by Laya Healthcare from the distribution of insurance products. 18

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