Investor Presentaiton

Non-GAAP Reconciliations Return on Common Equity General Insurance (in millions) Adjusted pre-tax income Interest expense on attributed financial debt Adjusted pre-tax income including attributed interest Quarterly Life and Retirement (in millions) Quarterly 1Q19 1Q20 1Q19 1Q20 $ 1,268 $ 501 Adjusted pre-tax income $ 924 $ 574 144 151 Interest expense on attributed financial debt 37 61 Adjusted pre-tax income including attributed interest expense 1,124 350 expense 887 513 Income tax expense 252 83 Income tax expense 176 99 Adjusted after-tax income $ 872 S 267 Adjusted after-tax income $ 711 $ 414 Dividends declared on preferred stock 4 Dividends declared on preferred stock 3 Adjusted after-tax income attributable to common shareholders (a) $ 872 $ 263 Adjusted after-tax income attributable to common shareholders (a) $ 711 S 411 Ending adjusted attributed common equity $ 24,826 $ 24,931 Ending adjusted attributed common equity $ 18,280 $ 19,661 Average adjusted attributed common equity (b) 24,946 25,037 Average adjusted attributed common equity (b) 18,988 19,587 Adjusted return on attributed common equity (a+b) 14.0 4.2 % Adjusted return on attributed common equity (a+b) 15.0 % 8.4% Core (in millions) Adjusted pre-tax income Interest expense on attributed financial debt Adjusted pre-tax income including attributed interest Quarterly 1Q19 1Q20 $ 1,735 $ 540 Legacy (in millions) Quarterly 1Q19 1Q20 Adjusted pre-tax income (loss) $ 112 S (368) Interest expense on attributed financial debt expense 1,735 540 Adjusted pre-tax income (loss) including attributed interest Income tax expense 400 162 expense 112 (368) Adjusted after-tax income $ 1,335 $ 378 Income tax expense (benefit) 23 (78) Dividends declared on preferred stock 7 Adjusted after-tax income attributable to common Adjusted after-tax income (loss) attributable to common shareholders (a) $ 89 $ (290) shareholders (a) $ 1,335 $ 371 Ending adjusted attributed common equity $ 7,450 $ 7,842 Ending adjusted attributed common equity $ 40,798 $ Average adjusted attributed common equity (b) 39,767 44,305 44,259 Average adjusted attributed common equity (b) 8,168 7,430 Adjusted return on attributed common equity (a+b) 13.4% 3.4% Adjusted return on attributed common equity (a+b) 4.4% (15.6) AIG 35

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