Investor Presentaiton

Key Messages (continued) Investments ☐ $2.7B in NII (APTI basis), down approximately $1B from 1Q19 as a result of COVID-19 related equity and credit markets impacts in the first quarter of 2020 compared to a strong recovery in the prior year quarter for hedge funds, private equity and FVO securities 1Q20 increase in current expected credit losses (CECL) allowance of $236M offset by $214M in gains on sale; at March 31, 2020 the balance sheet includes an allowance for credit losses on available-for-sale securities of $211M, mortgage and other loan receivables of $787M, and commercial mortgage loan commitments of $58M The Investments team proactively manages the portfolio including assessing vulnerable sectors Investment portfolio disclosures have been significantly expanded in the financial supplement Capital and Liquidity Capital and liquidity position remains strong at the holding company and principal insurance companies $7.5B holding company liquidity at March 31, 2020, including a $1.3B draw-down under a $4.5B revolving credit facility Total debt and preferred stock to total capital of 28.8% at March 31, 2020 Other Items ☐ AIG 200 workstreams continue to make progress with the goal of achieving a $1B reduction in annual run-rate expenses by year-end 2022 Expected closing of sale of majority interest in Fortitude Re to be mid-year, subject to receipt of regulatory approvals and other closing requirements AIG's Response to COVID-19 ☐ As the crisis has unfolded, AIG has successfully implemented its existing business continuity plans to ensure the safety of the global workforce and assist with social distancing with no material operational disruption Over 90% of workforce, including contractors and consultants, quickly transitioned to work from home, with AIG providing equipment to facilitate potential for longer-term shelter in place AIG issued a $500 grant to each employee globally, which equates to $30M in the aggregate, to help with unanticipated costs AIG continues to find ways to support its global communities, including donating thousands of masks to hospitals and distributing food to non-profit organizations. In addition, several Employee Resource Groups are assisting employees and making donations towards local relief efforts AIG 4

View entire presentation