2024 Proxy Statement

Letter from the Chairman of the Board

MetLife, Inc.

200 Park Avenue, New York, NY 10166

April 26, 2024

Dear Fellow Shareholder:

We often refer to MetLife's Next Horizon Strategy as being "all-weather," and that was truly put to the test over this past year. The Company successfully navigated the uncertainties created by volatility in interest rates, geopolitical unrest and other factors. Through it all, the Company has continued to perform well and deliver strong results for our investors.

The path forward is equally unpredictable, though the Company's strategy and focus on execution position it well. One of the Board's primary responsibilities is Board composition and succession planning, making sure we have the right skills, talent and experience around the Board table to guide the Company into the future, regardless of what we may encounter. Toward that end, I am delighted to welcome Laura Hay as the newest member of the Board. Laura's extensive experience in insurance and financial services has enabled her to hit the ground running, and we are fortunate to have her on the team.

Since 2019, the Board has also welcomed Michel Khalaf (May 2019),

Mark Weinberger (August 2019), Carla Harris (April 2022), and Jeh Johnson (February 2023). Together with Laura, these newer directors represent over 38% of the total Board. The Board's oversight capabilities are strengthened by bringing tenured, experienced Board members with deep Company-specific knowledge and historical perspectives together with highly-qualified newer Board members with different backgrounds and experiences, fresh viewpoints and new ideas.

We will also be saying farewell to two of our colleagues this year, Catherine Kinney and Gerald Hassell, who are not standing for re-election pursuant to the Board's retirement age policy. We are grateful to them both for their combined 21 years of dedicated service and their countless contributions to the Company and the Board's work.

Please take the time to review this Proxy Statement and the accompanying materials to leamore about the Company, its people, practices and progress. Also, be sure to vote your shares so we have the benefit of your feedback. On behalf of the entire Board of Directors, I thank you for the trust you have placed in us as Directors. We are proud to serve as stewards of your investment.

R. Glenn Hubbard

Chairman of the Board

MetLife, Inc.

This page is intentionally left blank.

2

Notice of Annual Meeting of Shareholders

• The election of 13 Director nominees named in this Proxy Statement, each for a one-year term;

• The ratification of the appointment of Deloitte & Touche LLP as MetLife, Inc.'s independent auditor for 2024;

• An advisory (non-binding) vote to approve the compensation paid to MetLife, Inc.'s Named Executive Officers;

• The approval of the MetLife, Inc. 2025 Stock and Incentive Compensation Plan;

• Consideration of one shareholder proposal, if properly presented at the Annual Meeting; and

• Such other business as may properly come before the Annual Meeting.

Information about the business to be acted upon at the Annual Meeting is contained in the accompanying Proxy Statement.

MetLife, Inc. common stock shareholders of record at the close of business on April 19, 2024 will be entitled to vote at the Annual Meeting or any adjournment or postponement thereof.

We will hold the Annual Meeting solely by means of remote communication in a virtual-only format. There will be no in-person meeting. The virtual Annual Meeting allows all shareholders to join the meeting, regardless of location. As with an in-person meeting, shareholders will be able to vote, ask questions and exercise any other shareholder rights that shareholders would be entitled to exercise at the Annual Meeting. For additional details, including information on how to participate in the virtual-only Annual Meeting, see Information About the Annual Meeting, Proxy Voting, and the Board of Directors.

By Order of the Board of Directors,

Timothy J. Ring

Senior Vice President and Secretary

New York, New York

April 26, 2024

Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting of Shareholders to Be Held on June 18, 2024:

The accompanying Proxy Statement, the MetLife, Inc. 2023 Annual Report to Shareholders, and the Letter to Shareholders are available at www.proxyvote.com. The 2024 annual meeting of shareholders will be held virtually via the Internet at www.virtualshareholdermeeting.com/MET2024.

4

2023 Business Results

2023 Core Performance Versus 2023 Business Plan

2023 Business Plan Versus 2022 Core Performance

Highlights of Executive Performance and Compensation

Discussion and Compensation for 2023 Compensation for 2023 Performance Aspects of Executive Performance

What are our executive compensation practices? Compensation Philosophy and Objectives

Key Features of MetLife's Executive Compensation Program

2024 Say-on-Pay Vote and Shareholder Engagement

Components of Compensation and Benefits

Determining Total Compensation for 2023 Performance

How did we compensate our CEO and other Named Executive Officers?

Base Salary

Annual Incentive Awards Stock-BasedLong-Term Incentives Retirement and Other Benefits Perquisites

Potential Termination Payments

How do we review compensation against peer companies?

Comparator Group and Performance Share TSR Peer Group

How do we manage risk related to our compensation program?

Risk Management Executive Share Ownership

Stock-Based Award Timing Practices Tax Considerations

Accounting Considerations

Summary Compensation Table Grants of Plan-Based Awards in 2023 Outstanding Equity Awards at 2023 Fiscal Year-End Option Exercises and Stock Vested in 2023 Pension Benefits at 2023 Fiscal Year-End

Nonqualified Deferred Compensation at 2023 Fiscal Year-End

90 Shareholder Proposal

A Note About Financial Measures

In this Proxy Statement, MetLife, Inc. (including its corporate affiliates, where applicable, MetLife or the Company) presents certain measures of its performance that are not calculated in accordance with accounting principles generally accepted in the United States of America (GAAP). You should not view these Non-GAAP financial measures as substitutes for the most directly comparable financial measures calculated in accordance with GAAP:

• Amounts for 2021 and 2022 have been restated to reflect the adoption of the Long-Duration Targeted Improvements (LDTI) accounting standard.

• RIS refers to Retirement and Income Solutions.

• EMEA refers to Europe, the Middle East, and Africa.

This Proxy Statement contains references to Non-GAAP financial measures that are further described in Appendix B.

6

Table of Contents

Proxy Statement Summary

This Proxy Statement contains information about the 2024 annual meeting of shareholders (the Annual Meeting) of MetLife. The Company is providing proxy materials to solicit proxies on behalf of the MetLife Board of Directors (the Board of Directors or the Board). It is sending certain shareholders a Notice of Internet Availability of Proxy Materials (Notice) on or about April 26, 2024. The Notice includes instructions on how to access the Proxy Statement, 2023 Annual Report to Shareholders, and Letter to Shareholders online. Shareholders who have previously requested a printed or electronic copy of the proxy materials will continue to receive such a copy of the proxy materials, which will be sent on or about April 26, 2024. See "Accessing Your Proxy Materials" in Information About the Annual Meeting, Proxy Voting, and the Board of Directorsfor additional information.

This summary provides highlights of information contained elsewhere in this Proxy Statement and does not contain all of the information that you should consider. Please read the entire Proxy Statement carefully before voting.

Annual Meeting Overview

Meeting Details

Voting Your Shares

Your vote is important. Shareholders of record may vote their shares electronically at the Annual Meeting or by using any of the methods indicated below. Beneficial owners whose shares are held at a brokerage firm or by a bank or other nominee should follow the voting instructions received from such nominee.

Table of Contents

Proxy Statement Summary

Proposals for Your Vote

• Based on age and tenure as of April 26, 2024. Rounded down to nearest year if less than one whole year as of the measurement date.

8

Table of Contents

Proxy Statement Summary