Investor Presentaiton

Investment Strategy Starts with our Liabilities . . • • The general account is segmented into product portfolios with characteristics determined by liability needs Investment decisions are based on both top-down views and bottom-up analysis We seek to optimize among yield, risk, capital efficiency, and relative value We continually reassess risk-adjusted return across investment opportunities, including by sector, geography, and rating Investment pace is influenced by projected cash flows and market opportunities As the economic environment evolves, we re-evaluate all of our holdings in terms of value, suitability, and credit fundamentals бх PACIFIC LIFE PLGFII - Investor Presentation (Q4 2022) 20 of 35

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