Slide 1: Long-duration Targeted Improvements (LDTI) and Resegmentation Supplement
Equitable Equitable Holdings Long-duration Targeted Improvements (LDTI) and Resegmentation Supplement April 4, 2023
Slide 2: Note Regarding Forward-Looking and Non-GAAP Financial Measures
LDTI and Resegmentation Supplement Note Regarding Forward-Looking and Non-GAAP Financial Measures This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “expects,” “believes,” “anticipates,” “intends,” “seeks,”
Slide 3: LDTI and resegmentation highlights
LDTI and Resegmentation Supplement LDTI and resegmentation highlights 3 Results more closely align to the economics of our business • New 2022 non-GAAP operating earnings1 of $1.7bn, or $2.0bn and $4.97 per share after adjusting for notable items2 • Positive net income in 2021 and all four quarters
Slide 4: LDTI and resegmentation reconciliation
Figures post-tax in millions Non-GAAP operating earnings adjusted for notable items2 LDTI Update Wealth Management Resegmentation Update Tax Rate Change3 New Non-GAAP operating earnings adjusted for notable items2 Individual Retirement $1,206 $(176) $1 – $786 Legacy $(11) – $234 Group Retirement $52
Slide 5: Post-LDTI and resegmentation 1Q'23 guidance
LDTI and Resegmentation Supplement Post-LDTI and resegmentation 1Q’23 guidance 5Note: See appendix for explanation of footnotes; Figures reflect full year unless otherwise noted. Guidance Pre-LDTI & Resegmentation Post-LDTI & Resegmentation Total company equity market sensitivity +/-10% = c. $150m a
Slide 6: Appendix
Appendix Equitable Holdings LDTI and Resegmentation Supplement
Slide 7: Explanation of footnotes
Explanation of footnotes Page 3 1Non-GAAP Operating Earnings equals our consolidated after-tax net income attributable to Holdings adjusted to eliminate the impact of certain items; Please see detailed non-GAAP reconciliation in Appendix 2Please see the Appendix for detailed reconciliations and the
Slide 8: Reconciliation of non-GAAP and other financial disclosures
LDTI and Resegmentation Supplement Appendix Reconciliation of non-GAAP and other financial disclosures Updated for long-duration targeted improvements and resegmentation 8 EQH Non-GAAP Operating Earnings EQH Non-GAAP Operating EPS Three Months Ended December 31, Year Ended December 31, (per share am
Slide 9: Reconciliation of non-GAAP and other financial disclosures (pre-LDTI)
LDTI and Resegmentation Supplement Appendix Reconciliation of non-GAAP and other financial disclosures Pre-LDTI and resegmentation (previously disclosed) 9 EQH Non-GAAP Operating Earnings EQH Non-GAAP Operating EPS Three Months Ended December 31, Year Ended December 31, (per share amounts) 2022 2022
Slide 10: Non-GAAP Operating Earnings adjusted for Notable Items
LDTI and Resegmentation Supplement Appendix Impact of notable items1 by segment and corporate & other and by category Updated for long-duration targeted improvements and resegmentation 1Notable Items represent the impact on results from our annual actuarial assumption review, approximate impacts att
Slide 11: Notable Items by segment, three months ended 12/31/2022
LDTI and Resegmentation Supplement Appendix Impact of notable items1 by segment and corporate & other and by category Updated for long-duration targeted improvements and resegmentation 1Notable Items represent the impact on results from our annual actuarial assumption review, approximate impacts att
Slide 12: Notable Items by segment, twelve months ended 12/31/2022
LDTI and Resegmentation Supplement Appendix Impact of notable items1 by segment and corporate & other and by category Updated for long-duration targeted improvements and resegmentation 1Notable Items represent the impact on results from our annual actuarial assumption review, approximate impacts att
Slide 13: Pre-LDTI Notable Items by segment, three months
LDTI and Resegmentation Supplement Appendix Impact of notable items1 by segment and corporate & other and by category Pre-LDTI and resegmentation (previously disclosed) 1Notable Items represent the impact on results from our annual actuarial assumption review, approximate impacts attributable to sig
Slide 14: Pre-LDTI Non-GAAP Operating Earnings adjusted for Notable Items
LDTI and Resegmentation Supplement Appendix Impact of notable items1 by segment and corporate & other and by category Pre-LDTI and resegmentation (previously disclosed) 1Notable Items represent the impact on results from our annual actuarial assumption review, approximate impacts attributable to sig
Slide 15: Pre-LDTI Notable Items by segment, twelve months
LDTI and Resegmentation Supplement Appendix Impact of notable items1 by segment and corporate & other and by category Pre-LDTI and resegmentation (previously disclosed) 1Notable Items represent the impact on results from our annual actuarial assumption review, approximate impacts attributable to sig