Jackson Financial Inc. · NYSE:JXN
Jackson Financial — Q2 2025 Earnings Presentation
20 slides from Jackson Financial's earnings presentation, August 2025
Slide 1: The Jackson Difference
The Jackson Difference Investor Presentation August 2025
Slide 2: Forward-Looking Statements and Non-GAAP Measures
Forward-Looking Statements and Non-GAAP Measures 2 The information in this document contains forward-looking statements about future events and circumstances and their effects upon revenues, expenses and business opportunities. Generally speaking, any statement in this document not based upon histor
Slide 3: Jackson Financial
Jackson Financial 3 Creating solutions for a more secure retirement Jackson is an established leading U.S. annuity writer. Our differentiated products, established brand, strong distribution partnerships, and efficient and scalable operating platform position the company for future profitable growth
Slide 4: A Targeted Business Strategy
A Targeted Business Strategy 4 Unique and broad annuity offerings with select complimentary businesses Retail Annuities Institutional Closed Block Includes guaranteed Primarily composed of Registered Index- Fixed & Fixed Index investment contracts blocks of insurance products Variable Annuities Link
Slide 5: Proven Execution and Profitability
Proven Execution and Profitability 5 A focus on sustainable capital generation Competitive Core Competencies Track Record of Operating Success Compelling Future Capital Return • Competitive product design • Market leader in the annuity space • Consistent capital generation • Broad distribution netwo
Slide 6: Second Quarter 2025 Financial Results
Second Quarter 2025 Financial Results 6 Key Highlights $168M $2.34 $350M $4.87 GAAP Earnings GAAP Earnings per Non-GAAP Earnings Non-GAAP Earnings Net income attributable to Share Adjusted Operating per Share Jackson Financial Inc. (JFI) Net income per common Earnings1 Adjusted Operating Earnings co
Slide 7: High Quality Variable Annuity Business
High Quality Variable Annuity Business 7 A Differentiated Approach to Product Design • Scaled Variable Annuity Block Focused on Withdrawal Benefit Features Variable Annuity Account ✓ Limited exposure to challenging guarantees ✓ Investment freedom is well managed through rigorous fund selection proce
Slide 8: Transparent Capital Generation and Free Cash Flow
Transparent Capital Generation and Free Cash Flow 8 Capital Generation Provides Foundation for New Free Cash Flow3 at Holding Company Allows for Capital Return to Common Shareholders is Business Growth and Distributions to Holding Financial Flexibility and Long-Term Value Creation Balanced and Consi
Slide 9: On Track to Deliver on 2025 Financial Targets
On Track to Deliver on 2025 Financial Targets 9 Targets Progress Capital Return $700-$800 million capital In the first six months of 2025, returned $447 million of capital to return to common common shareholders shareholders Holdco Liquidity Holding company cash and highly liquid securities of more
Slide 10: Consistent Capital Delivery
Consistent Capital Delivery 10 Cumulative capital return to common shareholders Capital return since becoming a standalone company Highlights $2.3B • Jackson Financial Inc. (JFI) has returned nearly $2.3 billion to common shareholders since becoming a standalone public company • JFI has repurchased
Slide 11: Robust Holding Company Liquidity
Robust Holding Company Liquidity 11 2Q25 Highlights • JNLIC generated $443 million of capital1 leading to free cash flow2 of $290 million • Brooke Re capital remains well above our internal risk management framework and regulatory requirements • Holding company cash and highly liquid assets totaled
Slide 12: Resilient Capitalization
Resilient Capitalization 12 Capital and Cash Return History RBC Ratio1 History JNLIC Remittances2 • Jackson prioritizes balance sheet strength ($ millions) • Strong capital generation has allowed JNLIC to consistently pay remittances to its parent since becoming a publicly traded company 624% 875 •
Slide 13: PPM America – Jackson's Asset Manager
PPM America – Jackson’s Asset Manager 13 A Robust Platform for Institutional Investors Public Fixed Income Private and Structured Credit Private Equity Collateralized Loan Obligations Commercial Real Estate Broad suite of strategies for Private placements, asset-backed Primary investments, co-invest
Slide 14: U.S. GAAP – Investment Portfolio
U.S. GAAP – Investment Portfolio 14 June 30, 2025 Investment Portfolio Classification1 Key Highlights Other invested assets <1% Limited partnerships 4% U.S government securities 6% • Market/book ratio of the fixed maturity portfolio is 0.95 Derivatives <1% Other government securities Policy loans 2%
Slide 15: Hedging Philosophy Focused on Economic Risks
Hedging Philosophy Focused on Economic Risks 15 Well-designed variable annuity book combined with growing RILA book drives a differentiated approach to hedging • Balanced hedging approach that protects against adverse market events while stabilizing statutory distributable earnings throughout market
Slide 16: Non-GAAP Financial Measures
Non-GAAP Financial Measures 16 In addition to presenting our results of operations and financial condition in accordance with U.S. GAAP, we use and report selected non-GAAP financial measures. Management believes that the use of these non-GAAP financial measures, together with relevant U.S. GAAP fin
Slide 17: Non-GAAP Financial Measures
Non-GAAP Financial Measures 17 Adjusted Book Value Attributable to Common Shareholders Adjusted Book Value Attributable to Common Shareholders excludes Preferred Stock and Accumulated Other Comprehensive Income (Loss) (AOCI) attributable to Jackson Financial Inc. (JFI), which does not include AOCI a
Slide 18: Adjusted Operating Earnings Reconciliation
Adjusted Operating Earnings Reconciliation 18 $ millions, except effective tax rate For the Three Months Ended For the Six Months Ended 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 6/30/24 6/30/25 Net Income (Loss) Attributable to Jackson Financial Inc. Common Shareholders 264 (480) 334 (35) 168 1,048 1
Slide 19: Select U.S. GAAP to Non-GAAP Reconciliation
Select U.S. GAAP to Non-GAAP Reconciliation 19 $ millions, except per share and shares outstanding data For the Three Months Ended For the Six Months Ended 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 6/30/24 6/30/25 Net Income (Loss) 282 (466) 358 (18) 185 1,084 167 Income attributable to non-controlli
Slide 20: Select U.S. GAAP to Non-GAAP Reconciliation
Select U.S. GAAP to Non-GAAP Reconciliation 20 $ millions For the Three Months Ended For the Six Months Ended 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 6/30/24 6/30/25 Jackson Financial Inc. Net Cash Provided by Operating Activities (Parent Company Only) (U.S. GAAP) (10) 34 (4) 29 (24) 21 5 Adjustmen