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 Creating an Industry Leader     March 26, 2026 
 
 2  Cautionary Statement Regarding Forward-Looking Information  This investor presentation includes statements, which, to the extent they are not statements of historical or present fact, constitute “forward looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements, and any related oral statements, can be identified by the use of terms such as “believes,” “expects,” “may,” “will,” “shall,” “should,” “would,” “could,” “seeks,” “aims,” “projects,” “forecasts,” “intends,” “targets,” “plans,” “estimates,” “anticipates,” “goals,” “guidance,” “formidable,” “preliminary,” “objective,” “continue,” “drive,” “improve,” “superior,” “robust,” “positioned,” “resilient,” “vision,” “potential,” “immediate,” and similar expressions or the negative of those expressions or verbs. We caution you that forward-looking statements are not guarantees of future performance or outcomes. Forward-looking statements are not historical facts but instead represent only our beliefs regarding future events, which may by their nature be inherently uncertain, and some of which may be outside our control. These statements include, but are not limited to, statements about the expected timing and completion of the proposed transaction between Corebridge and Equitable (the “Proposed Transaction”), the anticipated benefits of the Proposed Transaction, including estimated synergies and projected cost savings, and plans and expectations for Corebridge, Equitable or their new parent company after completion of the Proposed Transaction.  Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Key factors include, among others, the ability to complete the Proposed Transaction on the timeframe or on the terms currently anticipated or at all, including due to a failure to obtain requisite stockholder, stock exchange, regulatory, governmental or other approvals; risks related to difficulties, inabilities or delays in integrating the parties’ businesses; the ability to realize the anticipated benefits of the Proposed Transaction, including estimated run-rate expense synergies and projected cost savings at the times, and to the extent, anticipated, as well as expected operating earning and cashflow generation; the occurrence of any event, change or other circumstance that could give rise to the right of either or both parties to terminate the merger agreement; the potential impact of the announcement or consummation of the Proposed Transaction on Corebridge or Equitable’s stock price and on their respective business, contractual and operational relationships (including with regulatory bodies, employees, suppliers, clients and competitors); risks related to business disruptions from the Proposed Transaction that may harm the business or current plans and operations of either or both parties, including diversion of management time from ongoing business operations; the risk that the Proposed Transaction and its announcement could have an adverse effect on the ability of either or both parties to hire and retain key personnel; the parties’ ability to raise debt on favorable terms or at all; the outcome of any legal proceedings that may be instituted against Corebridge, Equitable, their new parent company or their respective directors; restrictions on the conduct of Corebridge and Equitable’s respective businesses prior to the closing of the Proposed Transaction and on each their ability to pursue alternatives to the Proposed Transaction; the possibility that the Proposed Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events, or unforeseen or unknown liabilities; the deterioration of economic conditions; geopolitical tensions; the potential impact of a downgrade in Corebridge or Equitable’s Insurer Financial Strength ratings or credit ratings or of the new parent company of Corebridge and Equitable following completion of the Proposed Transaction; other factors that may affect future results of Corebridge and Equitable; and management’s response to any of the aforementioned factors.  The foregoing list of factors is not exhaustive. You should carefully consider these factors and the other risks and uncertainties described in the “Risk Factors” section of the new parent company’s Registration Statement on Form S-4 discussed below and other documents filed or furnished by Corebridge and Equitable from time to time with the U.S. Securities and Exchange Commission (the “SEC”), including their Annual Reports on Form 10-K for the year ended December 31, 2025. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. If any of these risks materialize or our assumptions prove incorrect, actual events and results could differ materially from those contained in the forward-looking statements. There may be additional risks that neither Corebridge nor Equitable presently know or that Corebridge and Equitable currently believe are immaterial that could also cause actual events and results to differ materially from those contained in the forward-looking statements. In addition, forward-looking statements reflect Corebridge and Equitable’s expectations, plans or forecasts of future events and views as of the date of this investor presentation. Corebridge and Equitable anticipate that subsequent events and developments will cause Corebridge and Equitable’s assessments to change. While Corebridge and Equitable may elect to update these forward-looking statements at some point in the future, Corebridge and Equitable specifically disclaim any obligation to do so, unless required by applicable law. Neither Corebridge nor Equitable gives any assurance that Corebridge, Equitable or their new parent company will achieve the results or other matters set forth in the forward-looking statements.  No Offer or Solicitation  This investor presentation is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the “Securities Act”), or in a transaction exempt from the registration requirements of the Securities Act. 
 
 This investor presentation relates to the Proposed Transaction that may become the subject of a Registration Statement on Form S-4 to be filed by the new parent company with the SEC. The Registration Statement will include a joint proxy statement of Corebridge and Equitable that will also constitute a prospectus of the new parent company. After the Registration Statement has been declared effective, the definitive joint proxy statement/prospectus will be mailed to the stockholders of each of Corebridge and Equitable. This investor presentation is not a substitute for the Registration Statement that the new parent company intends to file with the SEC or any other documents that may be sent to Corebridge’s stockholders or Equitable’s stockholders in connection with the Proposed Transaction.   INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT ON FORM S-4 AND THE JOINT PROXY STATEMENT/PROSPECTUS WHEN THEY BECOME AVAILABLE, AS WELL AS ANY OTHER RELEVANT DOCUMENTS FILED WITH, OR FURNISHED TO, THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION OR INCORPORATED BY REFERENCE INTO THE JOINT PROXY STATEMENT/PROSPECTUS, BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION REGARDING COREBRIDGE, EQUITABLE, THEIR NEW PARENT COMPANY, THE PROPOSED TRANSACTION AND RELATED MATTERS.  Investors and security holders may obtain free copies of these documents and other documents filed with the SEC by Corebridge or Equitable through the website maintained by the SEC at http://www.sec.gov or from Corebridge at its website, https://www.corebridgefinancial.com, or from Equitable at its website, https://equitableholdings.com (information included on or accessible through either of Corebridge or Equitable’s website is not incorporated by reference into this investor presentation).  Participants in the Solicitation  Corebridge and Equitable and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Corebridge’s stockholders or Equitable’s stockholders in connection with the Proposed Transaction under the rules of the SEC. Information about the directors and executive officers of Corebridge, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in Corebridge’s definitive proxy statement for its 2025 Annual Meeting of Stockholders, which was filed with the SEC on April 16, 2025, including under the headings “Compensation Discussion and Analysis,” “Compensation Tables” and “Security Ownership of 5% Beneficial Owners, Directors and Executive Officers.” To the extent holdings of Corebridge’s common stock by the directors and executive officers of Corebridge have changed or do change from the amounts of Corebridge’s common stock held by such persons as reflected therein, such changes have been or will be reflected on Initial Statements of Beneficial Ownership of Securities on Form 3 (“Form 3”), Statements of Changes in Beneficial Ownership on Form 4 (“Form 4”) or Annual Statements of Changes in Beneficial Ownership of Securities on Form 5 (“Form 5”), in each case filed with the SEC. Information about the directors and executive officers of Equitable, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in Equitable’s definitive proxy statement for its 2025 Annual Meeting of Stockholders, which was filed with the SEC on April 4, 2025, including under the headings “Executive Compensation” and “Certain Relationships and Related Person Transactions.” To the extent holdings of Equitable’s common stock by the directors and executive officers of Equitable have changed or do change from the amounts of Equitable’s common stock held by such persons as reflected therein, such changes have been or will be reflected on Forms 3, Forms 4 or Forms 5, in each case filed with the SEC. Other information regarding persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation of Corebridge or Equitable’s stockholders in connection with the Proposed Transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the Registration Statement. You may obtain free copies of these documents at the SEC’s website at www.sec.gov. Copies of documents filed with the SEC by Corebridge or Equitable will also be available free of charge from Corebridge or Equitable using the contact information above.  Media Contacts  Corebridge:   Media:   Paul Miles  media.contact@corebridgefinancial.com  Investor Relations:   Işıl Müderrisoğlu   investorrelations@corebridgefinancial.com  3  Important Information and Where to Find It  Equitable:   Media:   Gina Tyler  mediarelations@equitable.com  Investor Relations:   Erik Bass  IR@equitable.com    
 
 4  Merger Creates a Diversified Financial Services Company Focused on Delivering Value for Customers and Shareholders  Creates Leading Retirement, Life, Wealth and Asset Management Company with Over 12 Million Customers and $1.5 Trillion in AUM/A (1)  1  Offers Formidable Distribution Capabilities with Enhanced Scale and Portfolio Diversification   2  Robust Balance Sheet and Consistent Cash Generation  4  Delivers Higher Growth, Balanced Revenue Mix and Resilient Earnings Across Market Cycles  3  Immediately Accretive to EPS and Cash Generation; Increasing to 10%+ by the End of 2028, Supported by $500M+ Synergies  5  Combined as of 12/31/2025 with no transaction related adjustments 
 
 5  Transaction Highlights  All-stock merger  Companies to form a new parent company  Each outstanding share of Corebridge common stock will be exchanged for the right to receive 1.00000 shares of the new parent company’s common stock  Each outstanding share of Equitable common stock will be exchanged for the right to receive 1.55516 shares of the new parent company’s common stock  Pro forma ownership: 51% Corebridge / 49% Equitable  All Corebridge / Equitable debt is expected to be structurally pari passu following closing  All Corebridge / Equitable preferred stock is expected to be new parent company preferred stock following closing  Transaction Overview  Marc Costantini, Corebridge CEO, to serve as CEO of the combined company   Mark Pearson, Equitable CEO, to serve as Executive Chairman  Alan Colberg, Corebridge Chairman, to serve as Lead Independent Director  Robin Raju, Equitable CFO, to serve as CFO of the combined company  14-member Board with equal representation between Corebridge and Equitable  Management & Board  Name: Equitable  Headquarters: Houston, Texas  Brand  Shareholder vote is expected to take place in summer 2026  Expect to close year-end 2026, subject to customary closing conditions  Plan to host an Investor Day in the first half of 2027  Timing 
 
 6  Shared Mission to Empower Our Clients to Retire with Confidence  Win with   Customers  Offer full suite of solutions to meet customers’ retirement and protection needs  Drive product innovation to increase customer engagement and simplify decisions  Expand Our Distribution Reach  Utilize multi-channel distribution to reach a broad customer base  Serve as a preferred provider to third-party distributors based on reputation, service, and consumer value  Provide Holistic Wealth Planning  Help individuals and families achieve their financial goals by providing tailored advice   Equitable Advisors, Corebridge Advisors, and Berstein Private Wealth provide broad client reach  Enhance Customer Experience  Connect with the customer based upon their personal or generational preferences  Harness scale to accelerate transformation and digitization investments 
 
 7  Shared Vision for Driving Growth and Shareholder Value  Capitalize on Scale Advantages  Leverage Multi-Channel Distribution  Capture the Full   Value Chain  Focus on Financial Principles  Top-quartile expense ratio supports higher profitability  Lower cost of capital  Higher cash flow to invest in growth  Ability to attract & retain top talent  Formidable distribution across retail, institutional, and worksite channels  Distribution breadth results in lower cost of funds  Operate as a manufacturer, distributor and asset manager to capture greater share of product economics  Asset and Wealth Management provide high-multiple businesses  Optimize cash generation to drive consistent capital return  Prioritize value over volume; price for a narrow range of outcomes  
 
 Source:   #1 Life & Annuity Company by U.S. Earnings (4)  Source:   8  Leading Retirement, Life, Wealth & Asset Management Company  $30B+  Adj. Book Value (8)  ~440%   RBC Ratio (9)  Established Institutional & Life Provider  #1 RILA / VA (2)  #3FA / FIA (2)  #3 403(b) (2)  Industry-Leading Retirement Player  Enhanced Wealth & Asset Management Capabilities  ~$140B  Wealth AUA (1)  ~$1T  AB AUM (3)  ~5K  Advisors (1)  ~$130B AUM/A Institutional Markets (1)  Leading Provider in IUL, VUL and Term  1  Scaled Platform to Better Serve Customers  $5B+  2027E Run-Rate Adj. Operating Earnings (5)  $500M  Expense Synergies by   the end of 2028  15%+  2027E ROE (7)  $4B+  2027E   Cash Generation (6)  Superior Growth and Profitability Across Market Cycles  ~12M Customers (1)  ~$1.5TAUM/A (1)  Combined as of 12/31/2025 with no transaction related adjustments  Annuity rankings based on LIMRA data as of 12/31/2025; 403(b) rankings based on assets per Cerulli as of 12/31/2024  Reflects AB AUM as of December 31, 2025 plus additional AUM of $100B to be allocated by Corebridge over time  See appendix for detail  Reflects combined adjusted after-tax earnings based on consensus estimates plus run-rate synergies, excluding transaction adjustments  Pro forma free cash flow generation reflects annual cash flow generated from insurance dividends and non-insurance operations; based on stated guidance and consensus estimates for both companies plus run rate synergies  Reflects estimated pro forma ROE with Corebridge as accounting acquiror  Reflects Corebridge’s adjusted book value as of 12/31/2025 plus estimated equity issuance in connection with all stock merger  Reflects combined NAIC RBC ratios for Corebridge and Equitable U.S. insurance companies as of 12/31/2025 
 
 Note: Metrics shown as of 12/31/2025 unless otherwise noted; combined metrics do not reflect any transaction related adjustments  Based on 2024 Gross Revenue, per Financial Advisor Magazine  Annuity rankings based on LIMRA data as of 12/31/2025; 403(b) rankings based on assets per Cerulli as of 12/31/2024  Pro forma Advisors and AUA including both Equitable Advisors and Corebridge Wealth business  Broad access to 403(b) and 457 opportunities; expands distribution footprint   Enhances scale to accelerate platform digitization and transformation  Over 900 distribution relationships across different channels  Leading position at top firms  Multiple products on the shelf  Opportunity to increase penetration of advisors  Top 10 (1) independent broker dealer generating double-digit organic growth in advisory assets  Key distribution channel for life, annuity, and asset management products with opportunity to capture additional proprietary sales   9  Formidable Multi-channel Distribution Platform  Pro Forma Metrics  Workplace  (403(b) / 457)  Wholesale  (Banks, B/D, IMO)  Retail  #3  403(b) (2)  ~$160B  AUA  ~5K  Advisors (3)  ~$140B   AUA (3)  2  #2  Banks (2)  #1  Across Channels (2)  #2  Broker Dealers (2)  Equitable Advisors  Scaled platform with high-net-worth focus  Attractive, fast growing distribution channel  Deep bench of advisory talent with best-in-class retention  Bernstein Private Wealth  $156B  AUM  ~200  Advisors  Individual Annuity Sales 
 
 Note: Metrics as of 12/31/2025 unless otherwise noted; combined metrics do not reflect any transaction-related adjustments; annuity rankings based on LIMRA data as of 12/31/2025; 403(b) rankings based on assets per Cerulli as of 12/31/2024  LIMRA as of FY2025  Based on account values including embedded derivatives  Based on assets per Cerulli as of 12/31/2024; includes IRA, Not-for-profit/Governmental DC and Public DB  Excludes $18B AUM/A from Wealth Management  FY 2024 PRT market volume per Mercer  FY 2025 FABN issuances per Bloomberg  S&P CapIQ; Individual and Group Life Net Premiums for FY2025   10  Positioned for Growth in Retirement, Institutional Markets & Life  Potential Opportunity  Size of Segment: $460B+ Sales (1)   Top-5 position in all retail annuity products and differentiated multi-channel distribution  3  ~$130B AUM/A  $108B AUM/A  Top-10 in PRT & FABN/GICs  ~$20B AUM/A  Top-5 FABN Issuer (6)  ~$160B AUM/A  $112B AUM/A (4)   #6 in 403(b)  ~$45B AUM/A   #9 in 403(b)  ~$700M Premiums  $389M  First Year Premiums  $308M  First Year Premiums  Individual Retirement  ~$250B AUM/A  $120B AUM/A   #3 Fixed/FIA Provider  ~$130B AUM/A (2)   #1 RILA Provider  Institutional Markets   Life Insurance  Group Retirement  Size of Segment: $160B+ Premiums (7)  Leverage Equitable Advisors to offer term and IUL products; capitalize on Corebridge’s focus on the middle market segment to offer VUL product  Size of Segment: $52B PRT Volume / $80B FABN/GIC Issuance (5) (6)  Depth and breadth of capabilities with increased balance sheet capacity  Size of Segment: $27T Total AUA (3)   Leading position across 403(b) and 457; large workplace distribution force  
 
 Note: Metrics as of 12/31/2025; combined metrics do not reflect any transaction related adjustments  $156B  ~200  11  Significant Growth Opportunity in Wealth Management  Key Drivers of Growth  Adds scale to Equitable Advisors; opportunity for future margin expansion  Strong track record of recruiting and developing new advisors  Attractive value proposition to recruit experienced advisors   Bernstein Private Wealth provides steady net flows from high-net-worth clients   3  AUM  $122B  ~4.6k  Serve Full Range of Clients from Mass Affluent to High Net Worth  Advisors   $18B  ~300  ~$300B 
 
 12  Expanding Asset Management Capabilities  3  AB to grow AUM to almost ~$1T: $100B+ of Corebridge’s general and separate account assets to AB over time  Support AB growth by leveraging Corebridge’s internal asset origination capabilities and AB’s global distribution  Combined Company to expand investment origination capabilities across all asset classes  Current AB AUM  Incremental Corebridge AUM  Pro-forma AUM  ~$100B  ~$867B  ~$967B  ~68% Ownership Stake Has a Market Value of ~$7.5B (1)  (2)  (3)  As of March 23, 2026  As of December 31, 2025  To be allocated over time 
 
 Note: Combined metrics do not reflect any transaction related adjustments; rounding may apply  Excludes Corporate & Other segment  Excludes EQH life earnings reported in Corporate & Other  Includes CRBG Wealth Management earnings reported within Group Retirement  Based on a 6% equity market return, 2% dividend yield, and interest rates following the forward curve  Normalized for the impact of individual variable annuity reinsurance transaction   Source:   Source:   13  Balanced Mix Supports Resilient Earnings Across Market Cycles  3  Individual Retirement  Life (2)  Asset Management  Wealth Management  Group Retirement (3)  Institutional  CRBG Insurance (5)  EQH Insurance (4)  Asset Management (4)  Wealth Management (4)  Sources of Holding Company Cash Flow  Operating Earnings by Segment (Pre-tax) (1)  Sources of Income   Spread Income  Fee Income  Underwriting Margin  2025A  2025A  2026E 
 
 EQH combined NAIC RBC ratio at year end 2023, 2024 and 2025. On a reported basis, the combined RBC ratio was c.410% as of YE’23, c.400% as of YE’24 and c.450% as of YE’25  CRBG 2018 RBC ratio impacted by passage of Tax Cuts and Jobs Act of 2017 (TCJA)  Includes normalized distributions to holding company  Organic Cash Generation ($B) (3)  Consolidated RBC Ratio (1)  2018 (2)  2019  2020  2021  2022  2023  2024  2025  389%  440%  402%  510%  433%  410%  447%  440%  411%  425%  428%  425%  426%  425%  435%  475%  2018  2019  2020  2021  2022  2023  2024  2025  $3.9  $3.7  $3.3  Corebridge  Equitable  $3.5  $3.8  $3.8  $3.8  $3.0  Robust Balance Sheet and Consistent Cash Generation  4  14 
 
 Includes Other Loans Receivable (Life Insurance Policy Loans, Commercial / Other Loans, and Notes Receivable)  Includes U.S. Government, Non-U.S. Government, and State / Municipal  Other Invested Assets include Policy Loans, FHLB securities, and Other Bond Securities.  Insurance operating businesses; excludes cash, funds withheld assets, allowance for credit losses on mortgage loans, consolidated investment entities as well as eliminations primarily between the consolidated investment entities and the insurance operating companies  Investment portfolio consists of the general account and non-insulated separate accounts of insurance subsidiaries; excludes 144A corporate private placements and based upon the carrying value recorded in the statutory statements  15  High Quality Investment Portfolio  Pro forma Investment Portfolio   Pro Forma Private Asset Portfolio   (1)  (2)  Conservative, High-quality Investment Portfolio   High Quality Portfolio Aligns with Liability Duration  Liability driven investment strategy supported by disciplined asset-liability management process   Partnership driven asset origination model enhances competitiveness while expanding capabilities and scale benefits   Diversified across asset class, sector, geography and issuer / borrower  Private assets diversified across private placements, infrastructure, private ABS and middle market direct lending  Institutional buyers maintain an active secondary market for private placement assets  96%Fixed Maturities Rated Investment Grade   51%of Portfolio in Corporates and Government Bonds   A-Average Credit Rating   92%Rated Investment Grade   $366B  $63B  (3)  4  (4)  (5) 
 
 16  Significant Synergies Accelerate Shareholder Value Creation  Expect to achieve $500M of annual pre-tax expense synergies on a run-rate basis by YE’28  Expect to achieve 100% benefit on a run rate basis by the end of 2028; benefits expected to earn in ~30% in the first 12 months and ~75% in the first 24 months  Represents ~10% of the combined company’s expense base (1)  Cost to achieve will be 1.5x run-rate synergies and reported below the line  Projected Expense Synergies  Shift over $100B of Corebridge general and separate account AUM to AB over time  Commercialize select Corebridge internal asset management strategies and distribute through AB  Distribute Corebridge life and fixed / indexed annuity products through Equitable Advisors  Increase conversion of group retirement assets by providing holistic wealth advice  Potential Revenue Synergies  5  Pre-tax Run-Rate Combined Earnings ($B)  (2)  Reflects combined pro forma operating expense; for Equitable’s Investment Management segment, reflects expense base net of portion allocated to non controlling interest  Reflects adjusted pre-tax operating income for Corebridge plus non-GAAP operating earnings (pre-tax) for Equitable; metrics as of FY2025  Upside Opportunity 
 
 17  Immediately Accretive to EPS and Cash Generation; Increasing to 10%+ by the End of 2028  5  Strong  Earnings Accretion    10%+  EPS Accretion (1)  $500M (P/T)  Run-Rate Expense Synergies  Increased   Cash Generation    10%+  Cash Generation Accretion (1) (2)  $4B+  Cash Generation (1) (2)  Enhanced  Profitability    15%+  Adj. ROE (1) (4)  $5B+  2027E Run-Rate Adj. Operating Earnings (A/T) (1) (3)  Increased   Financial Flexibility    ~440%  Pro Forma Year-end 2025 RBC Ratio  ~26%  Pro Forma Year-end 2025 Financial Leverage (5)  Presented on a run rate basis i.e., includes expense synergies as outlined; excludes impact of purchase accounting   Pro forma free cash flow generation reflects annual cash flow generated from insurance dividends and non-insurance operations; based on stated guidance and consensus estimates for both companies plus run rate synergies  Reflects combined adjusted after-tax earnings based on consensus estimates plus run-rate synergies, excluding transaction adjustments  Reflects estimated pro forma ROE with Corebridge as accounting acquiror  Financial leverage reflects total debt (including 50% junior subordinated debt) divided by adjusted capitalization (ex. AOCI); reflects 100% equity credit for preferred stock; capitalization excludes non-controlling interest 
 
 18  Merger Creates a Diversified Financial Services Company Focused on Delivering Value for Customers and Shareholders  Creates Leading Retirement, Life, Wealth and Asset Management Company with Over 12 Million Customers and $1.5 Trillion in AUM/A (1)  1  Offers Formidable Distribution Capabilities with Enhanced Scale and Portfolio Diversification   2  Robust Balance Sheet and Consistent Cash Generation  4  Delivers Higher Growth, Balanced Revenue Mix and Resilient Earnings Across Market Cycles  3  Immediately Accretive to EPS and Cash Generation; Increasing to 10%+ by the End of 2028, Supported by $500M+ Synergies  5  Combined as of 12/31/2025 with no transaction related adjustments 
 
 Appendix  Additional Materials  19 
 
 In a merger, PGAAP requires the accounting acquirer (expected to be Corebridge) to record the assets and liabilities of the acquired company (Equitable) at fair value as of the acquisition date   The total fair value of the acquired company’s equity is set equal to the purchase price, and the purchase price is allocated between tangible and intangible assets and liabilities  There are several implications for an insurance company’s balance sheet:  Equitable’s outstanding DAC balances are written off and their VOBA (value of business acquired) will be established. The VOBA is amortized similar to DAC  The basis of Equitable’s investment assets will be marked-to-market at the acquisition date with the “pull-to-par” impact running through net investment income over the remaining life of the asset  Unearned revenue and deferred reinsurance gains and losses that Equitable had will be written off and no longer amortize into earnings  Intangible assets will be created for both Equitable and AllianceBernstein reflecting the value of the entity brands, distribution relationships, etc.   Portion of these intangibles will be amortized into income over time  The difference between the purchase price and the fair value of assets and liabilities will be reflected as goodwill. The goodwill will then be allocated to segments and tested for impairment annually  PGAAP will not be finalized until the transaction closes. We preliminarily expect a significant increase in GAAP equity, but final impacts on operating income to be determined. Most intangibles amortization will be reported below the line and not impact operating income  Purchase Accounting Overview (PGAAP)  20 
 
 Additional Materials  21  Creating the Largest U.S-focused, Integrated Retirement, Asset and Wealth Management Franchise  Largest by 2025 Non-GAAP U.S Operating Income ($B) (1)  Reflects Adjusted After-tax Operating Income for Corebridge, Equitable and companies without meaningful international operations; for Athene, reflects Apollo’s Spread Related Earnings Excluding Notable Items; for MetLife, reflects sum of Adjusted Earnings of Group Benefits, Retirement and Income Solutions, and MetLife Investment Management segments; for Prudential, reflects adjusted earnings for PGIM, U.S. Business and Corporate and Other (tax affected at 21%); for Principal, reflects consolidated earnings excluding the International Pension segment 
 
 22  AllianceBernstein Overview  Additional Materials  Business Highlights  Active Net Flows  Private Markets  Leading global active manager with distributionfootprint in 21 countries  Capabilities across asset classes including active equity, active fixed income, multi-asset and alts; distribution across retail, institutional and private wealth  Well-positioned in higher value segments with a track record of organic growth and a partnership with Equitable to build higher-fee Private Markets platform  2018  2019  2020  2021  2022  2023  2024  2025  $90-100B  2027E  2025  2017  $867BAUM  $867BAUM  Institutions  Equity  PrivateWealth  Alts/MAS  Assets Under Management  Retail  Fixed Income  Asset Mix