Jackson Financial Inc. · NYSE:JXN

Jackson Financial — Investor Presentation (January 2026)

12 slides from Jackson Financial's investor presentation, January 2026

1. Slide 1: Strategic Update

   Strategic Update January 2026

2. 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

3. Slide 3: Jackson's Strategy to Drive Step Change in Growth

   Jackson’s Strategy to Drive Step Change in Growth 3 Focused & disciplined framework built on core strengths & capabilities Leverage strengths across organic & …To drive meaningful value creation for all inorganic opportunities… stakeholders Deep product expertise Increase product competitiveness and

4. Slide 4: Two Transformative Actions Mark Next Step in Jackson's Evolution

   Two Transformative Actions Mark Next Step in Jackson’s 4 Evolution 1 2 Long-Term Strategic Formation of Partnership with TPG Hickory Re1  Greater Investment Grade Asset Based Finance and Direct Lending  Innovative onshore captive to support fixed & fixed index annuity access enhances yields and co

5. Slide 5: Accelerating Execution of Our Strategy

   Accelerating Execution of Our Strategy 5 TPG partnership strengthens competitive position via additional opportunities for enhanced investment returns Leverages strength of existing distribution to grow sales of spread-based products Provides capital to efficiently support accelerated spread-based s

6. Slide 6: TPG is a Leading, Global Alternative Asset Management Firm with $286B of AUM

   TPG is a Leading, Global Alternative Asset Management 6 Firm with $286B of AUM Diversified solutions across private markets asset classes PRIVATE EQUITY CREDIT REAL ESTATE MARKET SOLUTIONS CAPITAL GROWTH IMPACT $87B $31B $29B $86B $38B $16B AUM AUM AUM AUM AUM AUM Large scale, control / Flexible inv

7. Slide 7: Attractive Strategic Partnership

   Attractive Strategic Partnership 7  TPG to acquire ~6.5% common equity stake in JFI at $106.03 per share for total consideration of $500M at close1 TPG Equity  Lock-up and standstill restrictions Investment in ̶ Ability to realize gains above initial $500M investment after 2 years Jackson ̶ Succes

8. Slide 8: Innovative Onshore Spread-Focused Captive

   Innovative Onshore Spread-Focused Captive 8 Structure Strategic Rationale  Formed Hickory Re, a Michigan-based captive reinsurer 100% owned by Brooke Re Diversifies earnings profile through  Will reinsure new FA and FIA sales increased spread-based income – Initial reinsurance of $1.2B inforce FA

9. Slide 9: Multiple Streams of Capital Generation and Cash Flows

   Multiple Streams of Capital Generation and Cash Flows 9 Jackson Financial Inc. Enhanced Distributions Further Stabilized Brooke Re Optimized Capital Efficiency & from Jackson National Life Liability & Capital Profile Improved Returns from Hickory Re 100% Owned  VA base contract fees net of expenses

10. Slide 10: Compelling Strategic and Financial Profile

    Compelling Strategic and Financial Profile 10 Accelerated Growth  Expect capital capacity and efficiency to write $10-15B of cumulative FA and FIA sales over medium-term & Diversification  Opportunity to also enhance competitiveness in RILA and Institutional business  Greater profitability across

11. Slide 11: 4Q25 Results Update

    4Q25 Results Update 11  Overall impact to consolidated after-tax net income less negative vs. 2024 Actuarial Assumption  Expected after-tax impact to Brooke Re equity of ~$(350) million Review & Model Enhancements – Largely reflects increased reserves from updated policyholder assumptions such as

12. Slide 12: Continuing to Create Long-Term Stakeholder Value

    Continuing to Create Long-Term Stakeholder Value 12 Today Sep. 2021 Long-term strategic partnership with TPG Demerger Demerger Sep. 2023 as a significant Jackson shareholder RBC: >525% Cumulative $1B capital and formation of Hickory Re Leverage: 23.5% returned to shareholders2 Nov. 2024 Aug. 2025 Ho

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