PRUDENTIAL FINANCIAL INC

Divested and Run-off Businesses Included in Corporate and Other

Income from our Divested and Run-off Businesses includes results from several businesses that have been or will be sold or exited, including businesses that have been placed in wind down status that do not qualify for “discontinued operations” accounting treatment under U.S. GAAP. The results of these Divested and Run-off Businesses are reflected in our Corporate and Other operations but are excluded from adjusted operating income. A summary of the results of the Divested and Run-off Businesses reflected in our Corporate and Other operations is as follows for the periods indicated:

Long-Term Care

Three Month Comparison. Results increased $22 million compared to the prior year period, primarily reflecting more favorable impacts from changes in the market value of equity securities, higher income from non-coupon investments, and lower general and administrative expenses. These variances were partially offset by unfavorable impacts from changes in the market value of derivatives used for duration management and higher net realized investment losses from sales of fixed income securities.

Nine Month Comparison. Results decreased $218 million, including an unfavorable comparative net impact from our annual reviews and update of assumptions and other refinements. Results for 2025 included a $7 million netcharge from these updates, while results for 2024 included a $111 million netbenefit from these updates. Excluding this item, results decreased $100 million compared to the prior year period, primarily reflecting less favorable impacts from changes in the market value of equity securities, more unfavorable impacts from changes in the market value of derivatives used for duration management, and higher net realized investment losses from sales of fixed income securities and credit impairments. These variances were partially offset by higher income from non-coupon investments.

Other Divested and Run-off Businesses

Results for the third quarter of 2025 increased $54 million, primarily reflecting less unfavorable results related to Assurance IQ and favorable results related to the Full Service Retirement business. Results for the first nine months of 2025 increased $252 million, primarily reflecting the absence of impairments and charges related to management’s decisions to exit

Assurance IQ and PGIM Wadhwani LLP (and their subsequent classifications as divested businesses in the first and second quarters of 2024, respectively), as well as favorable results related to the Full Service Retirement business.