Investor Presentaiton

| FA-Backed FA-Backed Commercial Paper Structure Overview Pacific Life Legal Entity Overview Pacific Mutual Holding Company Pacific LifeCorp Pacific Life Insurance Company • • FA-Backed Commercial Paper Mechanics Pacific Life Short Term Funding, LLC, is a special purpose vehicle (SPV) formed under the laws of the State of Delaware Pacific Life Insurance Company will issue a Master Funding Agreement (MFA) to Pacific Life Short Term Funding, LLC which will serve as the SPV's sole material asset Pacific Life Short Term Funding, LLC will issue match funded U.S. CP Notes with the use of proceeds to acquire deposits under the MFA with Pacific Life Insurance Company Under Nebraska statutes, the deposits under the MFA backing the U.S. CP notes will rank pari passu with policyholder claims of Pacific Life Insurance Company Pacific Life Short Term Funding, LLC's FA-Backed CP program ratings as of March 21, 2023 are: Master Funding Agreement Cash Cash CP Investors Pacific Life Short Term Funding, LLC U.S. CP Notes PACIFIC LIFE • Moody's: • S&P: P-1 A-1+ • Fitch: F1+ PLGFII - Investor Presentation (Q4 2022) 34 of 35

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