4Q22 Supplemental Slides

Topic

Page No.

Net income (loss) to adjusted earnings

3

Adjusted earnings, ex. total notable items, by segment

4

Variable investment income (VII)

5

Direct expense ratio

7

Cash & capital

8

Outlook

9

Appendix

14

1The per share data for each item is calculated on a standalone basis and may not sum to the total. 2The full year 2022 Actuarial Assumption Review line item reflecting $20

3

million of after-tax gains includes $273 million after-tax derivative losses and $293 million of other after-tax gains. These amounts are therefore not included in the Net

Group Benefits

$400

$20

NM2

Underwriting Margins;

Expense Margins

Volume Growth

Retirement and Income Solutions

371

620

(40%)

Investment Margins

U.S.

771

640

20%

Asia

215

586

(63%)

(62%)

Investment Margins;

Taxes

Latin America

181

125

45%

51%

Underwriting Margins;

Volume Growth

EMEA

70

42

67%

112%

Underwriting Margins

Expense Margins

MetLife Holdings

208

482

(57%)

Investment Margins

Corporate & Other

(219)

(177)

Expenses

Taxes;

Investment Margins

Adjusted Earnings ex. Total Notable Items

$1,226

$1,698

(28%)

(26%)

Adjusted EPS ex. Total Notable Items

$1.55

$2.01

(23%)

(21%)

1To be discussed on MetLife, Inc.'s fourth quarter and full year 2022 earnings conference call and audio webcast. 2Not Meaningful.

4

1Quarterly VII range of $450 million - $500 million, based on full year 2022 guidance range of $1.8 - $2.0 billion.

5