Cost Savings and Strategic Growth

Preserving Balance Sheet Strength, as We Have Done for 145+ Years Stress Parameters Equity Market Decline Pandemic Insurance Shock Interest Rate Shock Credit Shock Our Toolbox Disciplined ALM and hedging On balance sheet capital capacity Off-balance sheet resources - Credit facilities Contingent capital Shift in our product mix Ability to adjust product pricing Reinsurance Prudent management Outcomes Maintain appropriate and competitive regulatory capital levels at insurance companies Maintain adequate cash position at parent company Relatively resilient to equity market and interest rates declines Highly effective variable annuity hedging program Currency Shock Expanding access to investing, insurance, and retirement security 11

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