Prudential Financial, Inc. — Second Quarter 2026 Earnings Summary

Financial Performance

• Total adjusted operating income before income taxes for the second quarter of 2026 was $1,651 million, compared to $1,507 million in the second quarter of 2025, representing a 7% increase.
• After-tax adjusted operating income for the second quarter of 2026 was $1,320 million, compared to $1,179 million in the second quarter of 2025.
• Income attributable to Prudential Financial, Inc. for the second quarter of 2026 was $985 million, compared to $533 million in the second quarter of 2025, a 28% increase.
• Year-to-date adjusted operating income before income taxes for 2026 was $3,161 million, compared to $2,954 million for the same period in 2025.
• Year-to-date after-tax adjusted operating income for 2026 was $2,524 million, compared to $2,320 million for the same period in 2025.
• Year-to-date income attributable to Prudential Financial, Inc. for 2026 was $1,582 million, compared to $1,240 million for the same period in 2025.
• Operating Return on Average Equity based on adjusted operating income was 15.1% for the second quarter of 2026, compared to 13.7% in the second quarter of 2025.
• Dividends paid in the second quarter of 2026 were $493 million, compared to $485 million in the second quarter of 2025.
• Year-to-date dividends paid were $989 million in 2026, compared to $971 million in 2025.

Business Segments and Product Lines

• PGIM: Adjusted operating income before income taxes for the second quarter of 2026 was $294 million, compared to $229 million in the second quarter of 2025. Year-to-date income was $484 million in 2026, compared to $385 million in 2025.
• U.S. Businesses: Adjusted operating income before income taxes for the second quarter of 2026 was $998 million, compared to $985 million in the second quarter of 2025. Year-to-date income was $1,975 million in 2026, compared to $1,938 million in 2025.
• Japan Businesses: Adjusted operating income before income taxes for the second quarter of 2026 was $694 million, compared to $654 million in the second quarter of 2025. Year-to-date income was $1,384 million in 2026, compared to $1,407 million in 2025.
• Corporate and Other: Adjusted operating loss before income taxes for the second quarter of 2026 was $335 million, compared to a loss of $361 million in the second quarter of 2025. Year-to-date loss was $682 million in 2026, compared to $776 million in 2025.
• International Businesses Segment Reporting Changes: Effective in the third quarter of 2026, the operating results of certain businesses, including Brazil and Mexico operations, are reflected in Other Divested and Run-off Businesses within Corporate and Other. The former International Businesses segment has been renamed "Japan Businesses."
• AFP Habitat: The results of the Company's indirect 40% ownership interest in Administradora de Fondos de Pensiones Habitat S.A. ("AFP Habitat"), previously included within the International Businesses segment, are now included within the Retirement segment results.

Other Key Points

• In August 2026, the Company announced its intent to exit certain of its Emerging Markets businesses previously included within the International Businesses segment.
• All financial information in the document is unaudited.
• Reference is made to Prudential Financial, Inc.'s filings with the Securities and Exchange Commission for general information and consolidated financial information.
• Updates made for segment reporting revisions are highlighted in yellow throughout the document.