AIG 200 Strategic Update

Non-GAAP Reconciliations Adjusted Pre-tax and After-tax Income - Consolidated (in millions) Pre-tax income from continuing operations Adjustments to arrive at Adjusted pre-tax income (loss) Changes in fair value of securities used to hedge guaranteed living benefits Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains (losses) Changes in the fair value of equity securities Loss (gain) on extinguishment of debt Net investment income on Fortitude Re funds withheld assets Net realized capital gains on Fortitude Re funds withheld assets Net realized capital gains on Fortitude Re funds withheld embedded derivative Net realized capital gains (a) (Income) loss from divested businesses Non-operating litigation reserves and settlements Favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements Net loss reserve discount (benefit) charge Integration and transaction costs associated with acquiring or divesting businesses Restructuring and other costs Non-recurring costs related to regulatory or accounting changes Adjusted pre-tax income AIG Quarterly 1Q20 1Q21 2,558 $ 4,728 7 (22) 538 203 191 (22) 17 (8) (486) (173) (2,382) (3,494) (627) 216 (7) (6) 56 86 (8) (19) (32) 2 9 90 74 13 20 180 S 1,256 (a) Includes all net realized capital gains and losses except earned income (periodic settlements and changes in settlement accruals) on derivative instruments used for non-qualifying (economic) hedging or for asset replication and net realized gains and losses on Fortitude Re funds withheld assets. 21 21

View entire presentation