Investor Presentaiton

Persistent and Predictable Liability Portfolio Provides Long-Dated Funding Retirement Savings Products with Structural Features That Increase Stability Key Attributes 8 Year Weighted Average Life of Funding¹ 2.45% Cost of Funds on In-Force4 SPREAD BASED 83% Of Funding Carries a Withdrawal Penalty or Cannot be Withdrawn In-Line Policyholder-Driven Withdrawal Activity Amid Higher Interest Rates5 CONSERVATIVELY UNDERWRITTEN VERY LIMITED TAIL RISK 26% Non-Surrenderable² Pension Group Annuities 11% Funding Agreements 12% Payout Annuities 4% Other³ 1% $185 BILLION7 Fixed Indexed Annuities Fixed Rate Annuities 25% 47% 57% Withdrawal / Surrender Charge Protected 1. Calculation based on net reserve liabilities as of March 31, 2023. 2. Non-surrenderable liabilities include buy-out pension group annuities other than those that can be withdrawn as lump sums, funding agreements and payout annuities. 3. Other primarily consists of the AmerUs Closed Block liabilities and other life reserves. 4. For the three months ended March 31, 2023. 5. In-line with company expectations. 6. Includes Single Premium Immediate Annuities, Supplemental Contracts and Structured Settlements. 7. The liability portfolio allocation is based on net reserve liabilities as of March 31, 2023. ATHENE 19

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