AIG 200 Strategic Update

1Q20 $3,222 1Q21 $3,549 Commercial Lines 1,648 1,982 Personal Insurance 1,574 1,567 Net premiums earned $3,348 $3,478 Commercial Lines 1,701 1,854 Personal Insurance 1,647 1,624 Underwriting income $16 $275 Commercial Lines (24) 186 Personal Insurance 40 89 General Insurance: Strong 3.4 pt improvement in International AYCR, as adjusted, due to improved business mix along with rate increases ($M) Net premiums written Key Takeaways: ■ International Commercial Lines NPW grew 20% (13% on a constant dollar basis) over 1Q20 reflecting strong rate increases and improved retention across most lines. International Personal Insurance NPW was flat (down 6% on a constant dollar basis) compared to the prior year quarter, primarily due to the impact of COVID-19 across most lines ■ International Commercial Lines AYCR, as adjusted, improved 4.9 pts due to enhanced risk selection along with rate increases, supported by expense discipline ■ International Personal Insurance AYCR, as adjusted, improved 1.5 pts reflecting improved attritional losses and expense discipline ■ CATS of $61M primarily related to U.S. winter storms ■ Unfavorable PYD of $2M with $4M favorable PYD in Commercial Lines offset by $6M unfavorable PYD in Personal Insurance Note: Impact of CATS, pre-tax ($234) ($61) International Combined Ratios Total Commercial Lines Personal Insurance 92.2% 99.5% 101.4% 90.0% 97.6% 94.6% 2.7% 7.0% 1.9% 11.2% 0.4% 3.2% (1.1%) 0.1% (1.5%) (0.6%) 0.2% 93.6% 90.2% 91.7% 95.5% 94.0% AYCR, as AYCR, as 86.8% AYCR, as 14.2% adjusted, 13.7% 13.9% adjusted, 14.5% adjusted, 14.3% 13.1% improved improved improved 23.4% 3.4 pts 22.5% 20.7% 4.9 pts 26.2% 19.8% 1.5 pts 25.6% AYLR, as AYLR, as 56.0% adjusted, 54.0% 57.1% adjusted, 53.9% improved improved 2.0 pts 3.2 pts 1Q20 1Q21 1Q20 CYCR CAT Ratio PYD Ratio AYCR, As adjusted 1Q21 GOE Ratio Acquisition Ratio 1Q20 AYLR, as 54.8% adjusted, 54.1% improved 0.7 pts 1Q21 AYLR, As adjusted AIG 9

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