Tokyo Investor Day

IN FORCE GROWTH SENSITIVITY Gibraltar Life In Force Face Amount (1) (\billions) 40,000 30,000 20,000 12/31/15 Assumed Annual Sales Level 20% below 2015 level 7% below 2015 level At 2015 level 4% Increase 6% Decrease Pro Forma 12/31/2020(2) Flat in force at 7% below 2015 sales level 13% Increase 20% above 2015 level 1) Excludes Bank channel. 2) Assuming same sales mix, currency exchange rates for non-yen business, and persistency as year ended December 31, 2015. Represents impact of sales levels for years subsequent to 2015, held constant through 2020, at indicated levels in relation to actual 2015 sales, upon resulting year end 2020 in force amount. Prudential Tokyo Investor Day 9.15.2016 13

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