AMERICAN INTERNATIONAL GROUP INC

Operating Cash Flow Activities

Insurance companies generally receive most premiums in advance of the payment of claims or policy benefits. The ability of insurance companies to generate positive cash flow is affected by the frequency and severity of losses under their insurance policies, policy retention rates, effective management of their investment portfolio and operating expense discipline.

Interest payments totaled $858 million, $1.1 billion and $1.1 billion in the years ended December 31, 2024, 2023 and 2022, respectively. Excluding interest payments, AIG had operating cash inflows of $4.1 billion, $7.3 billion and $5.3 billion in the years ended December 31, 2024, 2023 and 2022, respectively, including outflows of $104 million, $710 million and $488 million from discontinued operations inthe years ended December 31, 2024, 2023 and 2022, respectively.

Investing Cash Flow Activities

Net cash provided by investing activities in the year ended December 31, 2024 was $1.7 billion, including $4.2 billion used in discontinued operations, compared to net cash used in investing activities of $7.0 billion, including $4.5 billion from discontinued operations, in 2023 and $3.6 billion, including $6.5 billion from discontinued operations, in 2022.

Financing Cash Flow Activities

Net cash used in financing activities in the year ended December 31, 2024 totaled$5.1 billion, reflecting:

•$1.0 billion to pay dividends of $0.40 per share in each of the three month periods ended December 31, 2024, September 30, 2024 and June 30, 2024, and $0.36 per share for the three months ended March 31, 2024 on AIG Common Stock;

•$22 million to pay a first quarter dividend of $365.625 per share on AIG’s Series A Preferred Stock and redemption premiums;

•$6.7 billion to repurchase approximately 90 million shares of AIG Common Stock;

•$1.4 billion in net outflows from the issuance and repayment of long-term debt; and

•$3.9 billion in net inflows from discontinued operations.

Net cash provided by financing activities in the year ended December 31, 2023 totaled $782 million reflecting:

•$997 million to pay dividends of $0.36 per share in the three months ended December 31, 2023, September 30, 2023 and June 30, 2023, and $0.32 per share for the three months ended March 31, 2023 on AIG Common Stock;

•$29 million to pay quarterly dividends of $365.625 per share on AIG’s Series A Preferred Stock;

•$3.0 billion to repurchase approximately 51 million shares of AIG Common Stock;

•$1.6 billion in net outflows from the issuance and repayment of long-term debt;

•$45 million in net outflows from the issuance and repayment of debt of consolidated investment entities; and

•$3.5 billion in net inflows from discontinued operations.

Net cash used in financing activities in the year ended December 31, 2022 totaled $602 million reflecting:

•$982 million to pay quarterly dividends of $0.32 per share on AIG Common Stock;

•$29 million to pay quarterly dividends of $365.625 per share on AIG’s Series A Preferred Stock;

•$5.2 billion to repurchase approximately 90 million shares of AIG Common Stock;

•$9.4 billion in net outflows from the issuance, repayment and cash tender of long-term debt;

•$234 million in net outflows from the issuance and repayment of debt of consolidated investment entities; and

•$13.9 billion in net inflows from discontinued operations.