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Investor Presentaiton

Based on our plan, cumulative cash flow generated should be $30 billion over five years... Cash flow will be returned to owners unless reinvested in the business ($ billions) 2026 Distributable earnings before realizations, including insurance solutions $ 30.6 Realized carried interest, net¹ 7.9 Distributable earnings before disposition gains 38.5 Dividends paid to investors (5.1) Net free cash flow $ 33.4 1. Including our share of Oaktree's fee-related earnings and carried interest. Our remaining net share of Oaktree's distributable earnings is included within distributions from investments. 2. See Notice to Recipients and Endnotes, including endnotes 6, 11 and 12. 181

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