General Insurance Financial Overview

Life and Retirement: Adverse mortality and lower yield enhancements, offset by favorable alternative investment income and fee income Adjusted Pre-tax Income (APTI) ($M) Noteworthy Items ($M) $1,027 $127 4Q20 4Q21 Variance $969 $165 50 $318 $314 Return on alternative investments Other yield enhancements Includes: 293 374 81 206 136 (70) $552 $498 ($8) Fair value changes on Fixed Maturity Securities- Other accounted under 19 (5) (24) FVO 4Q20 4Q21 All other yield enhancements 187 141 (46) APTI is lower primarily due to: Unfavorable mortality; Increases in deferred policy acquisition costs amortization; and Lower fair value option bond and call and tender income; these APTI decreases were partially offset by higher alternative investment income and higher fee income I Individual Retirement Life Insurance ■Group Retirement Institutional Markets Premiums and Deposits ($M) $8,609 +16% $7,400 $2,233 $1,287 Premiums and deposits benefited from improved Fixed, Index and Variable Annuity sales as well as higher pension risk transfer activity $1,156 $1,206 $1,862 $2,199 $2,758 1) Return on adjusted segment common equity is on an annualized basis. 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. $3,308 4Q20 4Q21 Individual Retirement ■Group Retirement Life Insurance I Institutional Markets Return on adjusted segment common equity¹ 16.0% 13.7% 4Q20 4Q21 14

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