Tokyo Investor Day

NAVIGATING THE CURRENT ENVIRONMENT • Focus on recurring premium death protection products with returns primarily driven by mortality and expense margins • Increased sales of U.S. dollar products • Product actions - - Suspended sales of single premium yen products, effective April 2016 Reduced crediting rates for advance premiums on yen business, to be effective November 2016 Strong asset/liability management reduces reinvestment requirements, mitigating impact of spread compression on margins Prudential Tokyo Investor Day 9.15.2016 13

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