2023 Annual Highlights and Achievements

Life Goals
Products

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- Annuities ��紫ý offers a variety of annuities designed to help grow, protect, and manage retirement savings turning it into steady, reliable lifetime income based on your personal preferences and goals.
- Life Insurance Life insurance is most commonly used to help protect your family from any financial effects of your and/or your spouse's death. Protect your family's financial well-being with life insurance, which can pay a death benefit to help replace a lifetime of your loved one's lost earning potential.
- For Institutions Whether you’re looking for a de-risking strategy for your company’s pension plan, want to provide financial security to your retirees, or looking for a strong investing partner, ��紫ý has the solutions and experience to help you succeed.
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- Workforce Benefits ��紫ý is revolutionizing employee benefits by empowering you with a premier, comprehensive, friction-free, digitally native experience.
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About Us

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- About Us Whether you’re protecting your loved ones or growing your assets, you’re highly invested in your financial future. And so are we. When you purchase life and retirement insurance, you’re buying a promise. A promise that today, tomorrow or ten years from now, we’ll be there. For nearly 160 years, we’ve fulfilled that promise. Our clients trust ��紫ý to protect what matters most to them—their families, their businesses, their futures.

2023 ANNUAL HIGHLIGHTS AND ACHIEVEMENTS

Letter to Members

As a mutual holding company and leader in the life insurance and retirement industry, we are proud of our 156-year legacy of strength, stability, and doing the right thing for our members. The opportunity to help our customers achieve financial security and peace of mind is what motivates us day in and day out, and drove us to show up for our customers in important ways over the past year.

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Business Highlights

View Our Insurance Ratings
and Financials

Achievements

Consumer Markets

Invested in technology and data analytics to implement proprietary life insurance underwriting model that advances processing capabilities.
Enhanced the customer experience with the exclusive release of a registered investment advisor trade management platform with Black Diamond®.
Awarded DALBAR Financial Intermediary Service Award for the 20th consecutive year – 11th consecutive year ranked #1 among annuity companies – and DALBAR Insurance Service Award for the 7th consecutive year for life insurance, demonstrating our promise to deliver outstanding service.

Institutional

Leveraged tech-driven efficiencies through strategic collaboration with record keeping and financial technology partners to establish ecosystem that accelerates delivery of retirement solutions to plan participants
Reached $61.8B in total assets under management and assets under wrap, including $12.3B in total assets under management from funding agreements
Transferred 183K participants to new administrative system
Achieved record Qualifying Longevity Annuity Contract (QLAC) sales of $8.9M

Global Reinsurance

Continued to be a key solution provider supporting retirement income globally; now actively working in new markets, including Japan and the Netherlands.
Completed transition to more capital efficient legal entity structure for ��紫ý Re enabling further growth of the business.
Wholly-owned subsidiary UnderwriteMe won Best Innovation Award at the UK Protection Review 2023 and the Outstanding New Partnership at the UK Cover Customer Care Awards 2023.
Achieved one of the highest client advocacy scores – likelihood to recommend – with no detractors in the UK.

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Workforce Benefits

Accelerated a modern approach to all aspects of the employee benefits ecosystem, from conception to production, without reliance on legacy systems.
Introduced dental and vision products in 37 states and group life insurance in 48 states, including Washington, D.C., with January 1, 2024 plan effective dates.
Established digital integrations with leading benefits administration platforms, including ADP, Employee Navigator, and Selerix.
Began issuing quotes to brokers and general agents in August 2023.
Marked our first employer plan as sold on October 19, 2023, and have continued to ring the bell, our symbolic sound of the successes we are earning with customers and technology advancements.

“ Our 2023 financial results were strong, driven by record life and annuity sales, solid investment performance, and the strength of our balance sheet. „

Customer Focus and Member Value

��紫ý provides confidence for generations by delivering financial security and experience excellence through a diverse set of insightful and innovative products. We are focused on markets and areas that present growth opportunities across our business while continuing an unwavering prioritization of the needs of our customers.

SAMANTHA FJELLSTAD
Assistant Vice President
Underwriting, Global Reinsurance��

"Listening to our clients to understand their needs and challenges is an important ��紫ý Re principle that drives everything we do. By doing this, we build strong relationships and make a real difference to our client’s businesses. What we have learned is that incorporating technology into the underwriting journey is important for our clients to achieve maximum efficiency beyond traditional rules engines. This different way of thinking makes working at ��紫ý Re energizing, challenging, and rewarding, and is mutually beneficial for us and our clients.”

TJ CLAYTON
Head of Partner Management,
Workforce Benefits

"��紫ý’s launch into a brand new space with our Workforce Benefits Division is a prime example of the innovation and customer-focus built into our company’s DNA. Our division has spent the last 18 months building a disruptor in the employee benefits industry. It’s been a knockout combination of modern technology and high caliber talent. Early feedback from our broker and client partners proves we are solving the key pain points that have plagued this space for decades. I’m so grateful for this once-in-a-career opportunity!”

BOB BELL
Leader, Life New Business,
Consumer Markets

"Working as a leader in new business allows me to��navigate challenges, drive innovation, and foster��a culture of excellence. I value the opportunity to��build lasting relationships with internal and external��customers, lead by example, and empower my team��to drive to be the best."

PETER HUYNH
Senior Risk Management Analyst,��
Stable Value Business, Institutional

"The cornerstone of our success lies in fostering trust with our clients, recognizing that it is not merely a transaction but a relationship built on reliability and transparency. Through��deep collaboration, we craft innovative solutions and intuitive product dashboards focused on the needs of our clients. This commitment to innovation propels us forward, enabling our��team to streamline processes that help to empower investment managers and plan sponsors. Ultimately, our collective efforts bring tangible value to participants’ retirement and investment��goals, solidifying our dedication to putting our customers at the heart of everything we do.”

Corporate Social Responsibility

��紫ý refers to ��紫ý and its affiliates, including ��紫ý & Annuity Company. Client count as of June 2023 is compiled by ��紫ý using the 2023 FORTUNE 500® list.

*��FORTUNE ranking as of June 2023 is of the top 500 U.S. firms by total revenue.
** “World’s Most Ethical Companies” and “Ethisphere” names and marks are registered trademarks of Ethisphere LLC.
***��Includes ��紫ý Foundation cash grants, global and miscellaneous corporate contributions, and in-kind donations

Life insurance rankings are from the 2023 Confidential Sales Survey of Participating Companies by LIMRA. ��紫ý sales are based on planned recurring premiums as measured against 77 participating companies. Structured settlement sales ranking from U.S. Individual Annuities Sales Survey by LIMRA, as of December 31, 2023.

��紫ý, an indirect wholly owned subsidiary of Pacific Mutual Holding Company, is licensed in the District of Columbia and all states except New York. In New York, individual life insurance and annuity products are available through ��紫ý & Annuity Company, a subsidiary of ��紫ý. Product availability and features vary by state. Insurance product and rider guarantees are backed by the financial strength and claims-paying ability of the issuing company and do not protect the value of the variable investment options. Each company is solely responsible for the financial obligations accruing under the policies it issues. Variable products are issued by ��紫ý and ��紫ý & Annuity Company. These products are distributed by Paci fic Select Distributors, LLC (member FINRA and SIPC), a subsidiary of ��紫ý and an affiliate of ��紫ý & Annuity Company. In order to sell life insurance products, a financial professional must be a properly licensed and appointed life insurance producer. For current financial strength ratings, please visit us online at www.PacificLife.com/Ratings.

To view a copy of Pacific Mutual Holding Company’s 2023 audited GAAP consolidated financial statements, please visit www.PacificLife.com/Financials.

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