PRUDENTIAL FINANCIAL INC

As previously announced in August 2026, the Company made the strategic decision to exit certain of its emerging markets businesses previously included within the former International Businesses segment. As a result, effective in the third quarter of 2026, the operating results of certain of these businesses are reflected in “Divested and Run-off Businesses” and the results of certain joint ventures and investments are included within “Equity in earnings of joint ventures and other operating entities, net of taxes” in our Corporate and Other operations. These changes have been applied retrospectively and did not have an impact on any of the Company’s previously issued Consolidated Financial Statements.

Below is a summary of additional actions taken through the date of this filing:

•In January 2026, an agreement was entered into to sell the Company’s 24% equity interest (through a private equity limited partnership managed by LeapFrog Investments) in ICEA Lion Insurance Holdings, Ltd., a Kenya-based insurer and asset manager. The transaction was completed in October 2026.

•In April 2026, an agreement was signed to sell the Company’s 49% equity interest in a life insurance joint venture in Indonesia to its joint venture partner, CT Corp. The transaction was completed in October 2026.

•In September 2026, agreements were signed to sell the Company’s 33% minority interest in Alexander Forbes Group Holdings Limited, a South Africa-based financial services company. The closings of these transactions are subject to regulatory approvals and customary closing conditions.

•In October 2026, the Company announced that it has entered into definitive agreements to sell 100% of the Company’s equity interests in each of Prudential do Brasil Seguros S.A. (“Prudential of Brazil”) and Prudential Seguros Mexico, S.A. de C.V. (“Prudential of Mexico”) to the CNP Assurances Group (respectively to CNP Seguradora, CNP Assurances’ Brazilian subsidiary, and to CNP Assurances Holding) for an aggregate purchase price of approximately $4.025 billion (or approximately $3.1 billion after transaction related costs and taxes). The Company expects the transactions to close in 2027, subject to the receipt of regulatory approvals and the satisfaction of customary closing conditions.

Corporate and Other includes corporate operations, after allocations to our business segments, and Divested and Run-off Businesses other than those that qualify for “discontinued operations” accounting treatment under U.S. GAAP. The following table sets forth Corporate and Other’s operating results for the periods indicated:

(1)Effective first quarter of 2026, the results of PGIM India are excluded from PGIM’s adjusted operating results and are included herein.

The loss from Corporate and Other operations, on an adjusted operating income basis, decreased $4 million, primarily reflecting:

•favorable pension and employee benefits results, primarily driven by favorable employee medical cost experience, partially offset by lower earnings from the Company’s pension plans reflecting a decrease in expected returns on plan assets; and

•higher investment income results, primarily driven by higher income from non-coupon investments.

These variances were largely offset by:

•higher interest expense on debt, primarily driven by higher average debt balances; and

•higher net charges from other corporate activities, primarily driven by higher corporate spending on initiatives, partially offset by lower retained expenses due to an update of internal expense allocations.

The loss from Corporate and Other operations, on an adjusted operating income basis, decreased $98 million, primarily reflecting:

•lower net charges from other corporate activities, primarily driven by lower corporate spending on initiatives and lower retained expenses due to an update of internal expense allocations; and

•lower interest expense on debt, primarily driven by lower average debt balances.

•lower investment income results, primarily driven by lower average asset balances, partially offset by higher income from non-coupon investments.