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Tokyo Investor Day

1) GIBRALTAR LIFE Solid Return In Force Business with Broad Distribution Reach ➤ Effective acquisition model with well integrated businesses provides stable block of highly profitable business ➤ Life Consultant count stabilized following Star / Edison acquisition and integration; positioned for growth ➤ Distinctive affinity distribution through long-standing relationship with Japanese Teachers Association ➤ Additive Independent Agency distribution focused on protection products Broader focus on protection, U.S. dollar and other non-yen products, and strong asset-liability management mitigates impact of current low interest rate environment ➤ Active management of product offerings to maintain appropriate returns: suspended sales of yen-based fixed annuities, single premium whole life (1) Certain products suspended February 2016, others July 2016. Prudential Tokyo Investor Day 9.15.2016 2
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