Prudential Financial, Inc. Announces First Quarter 2023 Results

• Net income(1) attributable to Prudential Financial, Inc. of $1.462 billion or $3.93 per Common share versus net loss of $493 million or $1.33 per share for the year-ago quarter.

• After-tax adjusted operating income of $990 million or $2.66 per Common share versus $1.191 billion or $3.10 per share for the year-ago quarter.

• Book value per Common share of $85.33 versus $76.77 per share for the year-ago quarter; adjusted book value per Common share of $97.29 versus $102.09 per share for the year-ago quarter.

• Parent company highly liquid assets(2) of $4.6 billion versus $3.6 billion for the year-ago quarter.

• Assets under management(3) of $1.417 trillion versus $1.620 trillion for the year-ago quarter.

• Capital returned to shareholders of $718 million in the first quarter, including $250 million of share repurchases and $468 million of dividends, versus $837 million in the year-ago quarter. Dividends paid in the first quarter were $1.25 per Common share, representing a 5% yield on adjusted book value.

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