Prudential Financial, Inc. 2018 Tokyo Investor Day

FORWARD-LOOKING STATEMENTS AND NON-GAAP MEASURE Certain of the statements included in this presentation, including those related to our strategy, prospects, returns constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words such as "expects," "believes," "anticipates," "includes," "plans," "assumes," "estimates," "projects," "intends," "should," "will," "shall," or variations of such words are generally part of forward-looking statements. Forward- looking statements are made based on management's current expectations and beliefs concerning future developments and their potential effects upon Prudential Financial, Inc. and its subsidiaries. Prudential Financial, Inc.'s actual results may differ, possibly materially, from expectations or estimates reflected in such forward-looking statements. Certain important factors that could cause actual results to differ, possibly materially, from expectations or estimates reflected in such forward-looking statements can be found in the "Risk Factors" and "Forward-Looking Statements" sections included in Prudential Financial, Inc.'s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Prudential Financial, Inc. does not undertake to update any particular forward-looking statement included in this presentation. Financial projections in this presentation consist of estimates. These estimates are forward-looking statements and may change, possibly materially, due to, among other things, changes in the composition of our business, customer behavior that differs from our expectations, market conditions, and actions Prudential Financial, Inc. may take. This presentation may also include references to adjusted operating income, adjusted book value and adjusted operating return on equity, which is based on adjusted operating income and adjusted book value. Consolidated adjusted operating income and adjusted book value are not calculated based on accounting principles generally accepted in the United States of America (GAAP). For additional information about adjusted operating income, adjusted book value and adjusted operating return on equity and the comparable GAAP measures, including reconciliations between the comparable measures, please refer to our quarterly results news releases, which are available on our Web site at www.investor.prudential.com. Reconciliations of adjusted operating income to the comparable GAAP measure are also included as part of this presentation. Prudential Financial, Inc. of the United States is not affiliated with Prudential plc which is headquartered in the United Kingdom. Prudential Tokyo Investor Day 9.27.2018 1

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