1Q25 Investor Presentation

MetLife

1Q25 Investor Presentation

Market-leading, diversified global insurer

Growing and established markets around the world

MetLife at a Glance1Diversified by Geography and Business

156 years of operation

~45,000 employees

More than 40 markets served

Top established markets:

U.S., Japan, Mexico, Chile, Korea

Top emerging markets:

China, India, Brazil

$617 billion

Total Assets Under Management (AUM)2

$51 billion

Market capitalization3

$75.37

Stock price3

15.2%

Adjusted Retuon Equity (ROE)4

MetLife Holdings710%

Asia 25%

Retirement & Income Solutions 23%

$6.7

billion

Latin America 13%

Group Benefits 25%

EMEA84%

$4.7

2024 Adjusted Earnings5,6

60 on the 2024 Fortune 500® list

billion

Capital returned in 2024

$3.2 billion

Share repurchases

$1.5 billion

Common stock dividends

1 As of 12/31/2024, unless otherwise noted. 2 As of 3/31/2025. At estimated fair value. Includes all assets managed by MetLife Investment Management LLC and certain of its affiliates (MIM). See MetLife's 1Q 2025 Total

Assets Under Management Fact Sheet. 3 As of 4/30/2025. 4 Adjusted ROE, excluding total notable items. 5 As of 12/31/2024. Excludes Corporate & Other adjusted losses of $919 million. 6 Adjusted earnings available to 2

common shareholders, excluding total notable items.7 MetLife Holdings is a legacy business. 8 Europe, the Middle East, and Africa (EMEA).

The power of our business1

Trusted global brand

Diversified & resilient

Leader in attractive markets

~120M

customers

90+

of Fortune 100 companies2

Delivered across economic cycles

for over 150 years

MetLife Holdings

10% Asia

25%

#1

US Group Benefit provider5

#1

Life insurer in Latin America6

40+

markets

~80%

covering world premiums3

Retirement & Income Solutions 23%

$6.7B

Adjusted Earnings 20244

Group Benefits 25%

Latin America 13%

EMEA 4%

Top 2

US Retirement Business markets7

#3

Multinational insurer in Asia8

1 As of 12/31/2024, unless otherwise indicated. 2 MetLife Book of Business analysis (2024). 3 MetLife presence in countries representing ~80% of world GWP. MetLife internal analysis based on Swiss Re Sri Sigma report No. 3/2024. 4 Excludes Corporate & Other adjusted losses of $919 million. 5 Based on PFOs. MetLife internal analysis of in-force, industry market data self-reported to LIMRA (2023). 6 Based on GWP. Latino Insurance (2023). 7 Based on (i) sales of PRT, Structured Settlements, and Institutional Income Annuities as of 2Q2024 (LIMRA Secure Retirement Institute®); (ii) sales of COLI as of 2Q2024 (IBIS Associates and MetLife market intelligence); (iii) sales of Post Retirement

Benefits and Capital Markets as of 2Q2024 (MetLife internal analysis); and (iv) in-force for Stable Value as of 2Q2024 (Valerian Capital Group). 8 As of 12/31/2023. Based on GWP. MetLife internal analysis of publicly available 3

information.

At a glance

Diversified set of businesses and product offerings

Group Benefits

Provides financial products and services to 94 of the top 100 Fortune 500® and over 80% of all Fortune 500® companies

Serving more than 55,000 U.S.

group customers and

50 million U.S. employees and their dependents

Product offerings:

Life, Dental, Disability, Accidental Death & Dismemberment (AD&D), Vision, Accident & Health,

Legal Plans, Pet

Largest non-medical, commercial carrier1in the

U.S. group insurance industry

$19.8 billion in policyholder benefits and claims in 2024

Retirement & Income Solutions

Provides funding and financing solutions that help institutional customers mitigate and manage liabilities

Generates a combination of spread, fee-based earnings, and underwriting

Broad set of market leading

businesses:

Stable Value, Pension Risk Transfer (PRT),

Structured Settlements, Institutional Income Annuities,

Risk Solutions2, and Capital Markets Investments Products (CMIP)

Asia

Diverse set of product offerings: protection, health and savings products to ~19 million customers

in 9 markets

Japan is MetLife's

second largest market Leading foreign insurer in Korea

Building presence in growth markets:

China and India

#3 multinational insurer in the region3

~180 bank partners around the region

~57,000 career agents and

~239,000 general agents

Latin America

Serving almost 30 million customers across Mexico, Chile, Brazil,

Colombia, and Uruguay

#1 life insurer in Mexico4and Chile5, and fast-growing presence in Brazil6

Diverse set of product offerings:

life insurance, retirement, savings, personal accident and health products

Well-diversified distribution, positioned to capture growth opportunities

EMEA

EMEA is MetLife's most diverse region, with a presence in

23 markets across

3 different continents

EMEA is divided into 4 geographies: Europe, Gulf, Levant,

and Turkey

Leading provider of Bancassurance & Direct Insurance distribution with

~150 partnerships

Strong presence across face-

to-face distribution networks: Over 4,000 captive agents Circa 1,400 brokers and 3rd

party networks

1 Based on 2024 annualized premiums. 2 Includes Longevity Reinsurance and Benefit Funding Solutions. 3 Based on gross written premiums (GWP) 2023. 4 AMIS (Asociación Mexicana de Instituciones de Seguros), GWP

2024. 5 AACH (Asociación de Aseguradoras de Chile), GWP 2023. 6 In terms of gross written premium among the top 15 companies operating in Brazil. MetLife internal analysis of publicly available information from 4

Superintendência de Seguros Privados.

Beat all of our Next Horizon commitments

Deliver 12-14% Adjusted ROE1

Accretive

Returns

Strong Free

Cash Flow

Generate ~$20B of distributable cash2 over 5 years

Positive Operating

Leverage

Create ~$1B additional capacity to accelerate growth over 5 years

15.2%

FY 2024

$20.7B

2020-2024

$1.2B

2020-2024

1Excluding total notable items. Next Horizon target of 12-14% communicated at 2019 Investor Day, was updated to 13-15% in 4Q2022 earnings call. 2Represents free cash flow of all holding companies.5

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Disclaimer

Metlife Inc. published this content on May 02, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 02, 2025 at 16:53 UTC.