Cost Savings and Strategic Growth

Less: Earnings attributable to noncontrolling interests Reconciliations between Adjusted Operating Income and the Comparable GAAP Measure ($ millions, except per share data) Net income attributable to Prudential Financial, Inc. Income attributable to noncontrolling interests Net income 2021 $ 7,724 70 7,794 70 Full Year 2017 (1) Twelve Months Ended 6/30/2022 $ 7,863 111 7,974 $ 2,142 49 2,191 111 49 Income attributable to Prudential Financial, Inc. 7,724 7,863 2,142 Less: Equity in earnings of operating joint ventures, net of taxes and earnings attributable to noncontrolling interests Income (after-tax) before equity in earnings of operating joint ventures 17 7,707 (62) 7,925 (55) 2,197 Less: Reconciling Items: Realized investment gains (losses), net, and related charges and adjustments Market experience updates Divested and Run-off Businesses: Closed Block division Other Divested and Run-off Businesses 1,627 47 750 (3,496) 746 140 45 111 716 709 435 Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests Other adjustments (2) (41) 33 8 (1,112) (1,103) Total reconciling items, before income taxes Less: Income taxes, not applicable to adjusted operating income Total reconciling items, after income taxes After-tax adjusted operating income Income taxes, applicable to adjusted operating income Adjusted operating income before income taxes 2,080 834 (3,299) 145 (2,899) (900) 1,935 3,733 (2,399) 5,772 4,192 4,596 1,529 1,461 1,271 $ 7,301 $ 5,653 $ 5,867 After-tax adjusted operating income per share Net Income Return on Equity Adjusted Operating Return on Equity (3) $ 14.58 $ 9.54 12.4% 14.3% 16.0% 11.6% Note: Prior periods restated for reclassification of results of Full Service Retirement. Adjusted operating income reflects the reclassification of results of Full Service Retirement from the former Retirement business, which is now the Institutional Retirement Strategies business, to Divested and Run-off Businesses in Corporate & Other. Full Service Retirement results are excluded from adjusted operating income as a result of the operation being held-for-sale prior to its disposition on April 1, 2022. (1) Prior period amounts have been updated to conform to current period presentation. (2) Represents adjustments not included in the above reconciling items, including a goodwill impairment that resulted in a charge of $837 million after-tax, $1,060 million pre-tax, in fourth quarter of 2021 related to Assurance IQ. Also includes certain components of consideration for business acquisitions, which are recognized as compensation expense over the requisite service periods, as well as changes in the fair value of the associated contingent consideration. (3) Represents adjusted operating income after-tax, annualized for interim periods, divided by average Prudential Financial, Inc. equity excluding accumulated other comprehensive income and adjusted to remove amounts included for foreign currency exchange rate remeasurement. Expanding access to investing, insurance, and retirement security 42

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