Investor Presentaiton

ADAPTING TO CHANGING MARKET IN JAPAN Market Dynamic . Lower interest rates Prudential Response Introduction of new products and repricing. ⚫ Lower statutory mortality rates • Increasing compliance standards . . Growing competition in third-party channels ⚫ Demographic changes Prudential Tokyo Investor Day 9.27.2018 . • Shift to U.S. dollar products . • • Grow retirement solutions Focus on estate planning Expand and diversify captive distribution • Selective growth in third-party channels • Focus on digital, data, and mobile solutions 12

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