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Investor Presentaiton

IN FORCE CAN GROW WITHOUT INCREASE IN SALES ($ billions) 500 400 300 200 100 12/31/17 1) Excludes Bank channel. Gibraltar Life(1) In Force Face Amount 5% Decrease 4% Increase 12% Increase Pro Forma 12/31/2022(2) In Force maintained even if 2017 sales level decreases by 8% Assumed Annual Sales Level 20% below 2017 level 8% below 2017 level At 2017 level 20% above 2017 level 2) Assuming same sales mix, currency exchange rates for non-yen business, and persistency for year ended December 31, 2017. Represents impact of sales levels for years subsequent to 2017, held constant through 2022. All indicated levels are in relation to actual 2017 sales, upon resulting year end 2022 in force amount. Translated to U.S. dollars at uniform currency exchange rates (Japanese yen 111 per U.S. dollar). The information is for illustrative purposes only. Actual changes in sales in excess of those illustrated may occur in future periods. Prudential Tokyo Investor Day 9.27.2018 13
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