Jackson Financial (JXN) investor relations material

Program overview and structure

• Funding Agreement-Backed Notes (FABN) program authorized up to $15 billion, with $7.4 billion outstanding as of March 31, 2026.

• Issuer is Jackson National Life Global Funding, backed by Jackson National Life Insurance Company.

• Notes are listed on Euronext Dublin, offered in multiple currencies and maturities up to 20 years.

• Expected ratings: Moody's A3, S&P A, Fitch A, all with stable outlooks.

• $33.5 billion cumulative FABN issuance since 1999.

Business segments and product diversification

• Focus on retail annuity products: variable annuities, registered index-linked annuities (RILA), and fixed/fixed index annuities.

• Institutional products include GICs, funding agreements, and medium-term notes.

• Strategic expansion has increased sales diversification, with a shift from primarily VA sales in 2021 to a more balanced mix by 2025.

• Inforce book shows a more diversified balance sheet and earnings stream by 1Q26.

Financial performance and capital position

• Strong adjusted operating earnings driven by higher spread income and AUM growth in RILA, fixed index annuities, and institutional products.

• Robust capital position: total adjusted capital of $5.5 billion and RBC ratio of 554% as of March 31, 2026.

• $342 million capital generated and $325 million dividends/distributions to parent in 1Q26.

• Holding company liquidity of nearly $650 million, above targeted minimum buffer.