Tokyo Investor Day

HISTORICAL CAPITAL GENERATION AND REDEPLOYMENT • Redeployed excess capital of ~65% of earnings since 2009(1) Japan returns capital to the U.S. through diverse means and in accordance with regulatory standards Historical Capital Redeployment ($ billions) $13.4 $8.6 Cumulative 2009-2015 Earnings (2) Forms of Cumulative Redeployment Acquisition Funding and Other 38% Dividends 14% Affiliate Lending 20% Debt Repayment 28% 1) Through December 31, 2015. 2) | Capital Redeployed Represents after-tax results based on pre-tax AOI tax effected using the effective tax rate of PFI for 2015 and the former FSB for periods prior to 2015. Prudential Tokyo Investor Day 9.15.2016 14

View entire presentation