General Insurance Financial Overview

Adjusted Pre-tax Income (APTI) ($M) Life and Retirement: Favorable net investment income and fee income, partially offset by unfavorable impact of mortality $1,013 APTI is higher primarily due to: - Higher alternative investment income Higher fee income; and Higher call and tender income and commercial mortgage loan prepayments These APTI increases were partially offset by: - Noteworthy Items ($M) FY'20 FY'21 Variance +11% $3,531 $3,911 $582 $438 Annual actuarial assumption updates ($107) ($166) ($59) 142 $1,284 Return on alternative investments 591 1,299 708 Other yield enhancements 682 728 46 $1,938 $1,939 Includes: FY'20 FY'21 Fair value changes on Fixed Maturity Securities- Other accounted under FVO 58 17 (41) ■Individual Retirement ■Group Retirement Life Insurance ■Institutional Markets All other yield enhancements 624 711 80 87 Return on adjusted segment common equity Premiums and Deposits ($M) Unfavorable mortality; $31,280 +15% Base net investment spread compression; $27,125 $4,948 Lower yield enhancements due to lower fair value $4,846 $4,650 13.6% option bond income and favorable prior year non- recurring item $4,413 $7,766 $7,496 Premiums and deposits benefited from improved Index and Variable Annuity sales as well as higher pension risk transfer sales partially offset by lower guaranteed investment contracts issuance $10,370 FY'20 Individual Retirement AIG Copyright © 2022 by American International Group, Inc. All rights reserved. No part of this document may be reproduced, republished or reposted without the permission of AIG. Life Insurance $13,916 FY'21 ■Group Retirement ■Institutional Markets 14.2% FY'20 FY'21 24 14

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