MetLife 2Q25 Investor Overview

MetLife 2Q25 Investor Overview

• 1. MetLife 2Q24 Investor Presentation MetLife 2Q25 Investor Presentation

• 2. 2 More than 40 markets served Market-leading, diversified global insurer Growing and established markets around the world MetLife at a Glance1 Diversified by Geography and Business 2024 Adjusted Earnings6,7 1 As of 12/31/2024, unless otherwise noted. 2 As of March 24, 2025. 3 As of 6/30/2025. At estimated fair value. Excludes $15.5 billion of MetLife General Account Assets Under Management that are not managed or advised by MetLife Investment Management and certain of its affiliates. See MetLife’s 2Q 2025 Total Assets Under Management Fact Sheet. 4 As of 8/5/2025. 5 Adjusted ROE, excluding total notable items. 6 As of 12/31/2024. Excludes Corporate & Other adjusted losses of $919 million. 7 Adjusted earnings available to common shareholders, excluding total notable items. 8 MetLife Holdings is a legacy business. 9 Europe, the Middle East, and Africa (EMEA). $624 billion Total Assets Under Management (AUM)3 $50 billion Market capitalization4 15.2% Adjusted Return on Equity (ROE)5 $4.7 billion Capital returned in 2024 $3.2 billion Share repurchases $1.5 billion Common stock dividends 157 years of operation2 ~45,000 employees 60 on the 2025 Fortune 500® list Top established markets: U.S., Japan, Mexico, Chile, Korea Top emerging markets: China, India, Brazil $74.89 Stock price4 Group Benefits 25% Retirement & Income Solutions 23% MetLife Holdings8 10% Asia 25% Latin America 13% EMEA9 4% $6.7 billion

• 3. 3 Building presence in growth markets: China and India Generates a combination of spread, fee-based earnings, and underwriting Japan is MetLife’s second largest market Leading foreign insurer in Korea At a glance Diversified set of businesses and product offerings Provides financial products and services to 94 of the top 100 Fortune 500® and over 80% of all Fortune 500® companies Provides funding and financing solutions that help institutional customers mitigate and manage liabilities Broad set of market leading businesses: Stable Value, Pension Risk Transfer (PRT), Structured Settlements, Institutional Income Annuities, Risk Solutions2, and Capital Markets Investments Products (CMIP) Diverse set of product offerings: protection, health and savings products to ~19 million customers in 9 markets Diverse set of product offerings: life insurance, retirement, savings, personal accident and health products Serving almost 30 million customers across Mexico, Chile, Brazil, Colombia, and Uruguay #1 life insurer in Mexico4 and Chile5, and fast-growing presence in Brazil6 EMEA is MetLife’s most diverse region, with a presence in 23 markets across 3 different continents EMEA is divided into 4 geographies: Europe, Gulf, Levant, and Turkey Product offerings: Life, Dental, Disability, Accidental Death & Dismemberment (AD&D), Vision, Accident & Health, Legal Plans, Pet Serving more than 55,000 U.S. group customers and 50 million U.S. employees and their dependents Largest non-medical, commercial carrier1in the U.S. group insurance industry $19.8 billion in policyholder benefits and claims in 2024 #3 multinational insurer in the region3 ~180 bank partners around the region ~57,000 career agents and ~239,000 general agents Well-diversified distribution, positioned to capture growth opportunities Leading provider of Bancassurance & Direct Insurance distribution with ~150 partnerships Strong presence across faceto-face distribution networks: Over 4,000 captive agents Circa 1,400 brokers and 3rd party networks Group Benefits Retirement & Income Solutions Asia Latin America EMEA 1 Based on 2024 annualized premiums. 2 Includes Longevity Reinsurance and Benefit Funding Solutions. 3 Based on gross written premiums (GWP) 2023. 4 AMIS (Asociación Mexicana de Instituciones de Seguros), GWP 2024. 5 AACH (Asociación de Aseguradoras de Chile), GWP 2024. 6 In terms of gross written premium among the top 10 companies operating in Brazil. MetLife internal analysis of publicly available information from Superintendencia de Seguros Privados.

• 4. 4 $1.2B 2020-2024 Create ~$1B additional capacity to accelerate growth over 5 years $20.7B 2020-2024 Generate ~$20B of distributable cash2 over 5 years 15.2% FY 2024 Deliver 12–14% Adjusted ROE1 Accretive Returns Strong Free Cash Flow Positive Operating Leverage 1 Excluding total notable items. Next Horizon target of 12-14% communicated at 2019 Investor Day, was updated to 13-15% in 4Q2022 earnings call. 2 Represents free cash flow of all holding companies. Beat all of our Next Horizon commitments

• 5. NEW FRONTIER Commitments STRONG GROWTH ATTRACTIVE RETURNS ALL-WEATHER PERFORMANCE 15-17% Adjusted ROE from 12-14%2 -100bps Direct Expense Ratio from 12.3%3 $25B+ Free Cash Flow4 from ~$20B Double-digit Adjusted EPS Growth from 6%1 METLIFE’S SUPERIOR VALUE PROPOSITION 5 Note: All New Frontier 2024-2029 commitments are shown as compared to Next Horizon commitments made at Investor Day 2019, except as otherwise indicated. 1 Not a Next Horizon commitment. Adjusted EPS growth of 6% from 2019 to 2024. 2 Next Horizon target of 12-14% communicated at Investor Day 2019, was updated to 13-15% in 4Q2022 earnings call. 3 Direct expense ratio target communicated at Investor Day 2019 (adjusted for LDTI approximately +30bps), was updated to 12.3% in 4Q2023 earnings call. 4 Represents free cash flow of all holding companies.

• 6. 6 Powerful macro trends driving New Frontier opportunities Global demographic shifts …fueling retirement, health & protection needs Democratization of financial services …expanding our addressable market AI reshaping customer expectations …advantaging scaled players investing in technology for growth & efficiency Convergence of asset management & insurance …creating greater opportunity for integrated business models Higher interest rates …increasing the attractiveness of fixed rate products

• 7. 7 New Frontier strategic priorities Extend leadership in Group Benefits Capitalize on unique retirement platform Accelerate growth in asset management Expand in high growth international markets 1 2 3 4 Power of SCALE Strategic DIVERSIFICATION Distribution INNOVATION Cutting-edge TECHNOLOGY

• 8. Growth, attractive returns, lower risk In highly attractive markets With deep competitive moats Poised to capitalize on strong tailwinds NEW FRONTIER 8

• 9. Financial Overview

• 10. 10 Adjusted earnings snapshot Continue to deliver across economic cycles - favorable volume growth and expense margins more than offset by less favorable underwriting and lower investment margins Adjusted Earnings ex. Total Notable Items ($ in millions, except per share data) 2Q25 2Q24 % Change FY24 FY23 % Change Group Benefits $400 $533 (25%) $1,664 $1,628 2% Retirement & Income Solutions (RIS) 368 410 (10%) 1,563 1,647 (5%) Asia 350 449 (22%) 1,662 1,376 21% Latin America 233 226 3% 877 840 4 % EMEA 100 77 30% 288 247 17% MetLife Holdings (MLH) 144 153 (6%) 635 731 (13%) Corporate & Other (C&O) (233) (220) (919) (882) Adjusted Earnings ex. Total Notable Items $1,362 $1,628 (16%) $5,770 $5,587 3% Adjusted EPS ex. Total Notable Items $2.02 $2.28 (11%) $8.11 $7.33 11% Weighted average common shares outstanding - diluted 675.0 714.7 711.1 762.3 Adjusted book value per share $56.23 $53.12 $54.81 $53.75

• 11. 11 79.1% 85.6% 83.2% 84.8% 83.0% 85.7% 84.5% 70.8% 72.4% 71.8% 74.1% 74.8% 71.6% 72.2% 2Q24 3Q24 4Q24 1Q25 2Q25 2023 2024 Group Life Mortality Ratio Non-Medical Health (NMH) Ratio Group Benefits1 Market leader in Employee Benefits with scale advantage and growing faster than the market 1 As of 6/30/2025, unless otherwise noted. 2 Adjusted earnings available to common shareholders, excluding total notable items. 3 Overview based on MetLife internal analysis, unless otherwise noted. 4 Based on 2024 annualized premiums. 5 Results are derived from insurance and non-administrative services-only contracts. Full year ratios reflect simple quarterly average. 6 Excludes certain experience-rated contracts and includes accidental death and dismemberment. 7 Reflects actual claims experience and excludes the impact of interest credited on future policyholder benefits. The product within Group Non-Medical Health with interest credited on future policyholder benefits is disability. Primarily includes dental, group and individual disability, accident & health, critical illness and vision. 8 As of 2Q25, and all comparisons presented are to 2Q24, unless otherwise noted. 9 Full year 2024 results contribution. Excludes total notable items and Corporate & Other. Overview3 Key Highlights8 • Contributed 25% of total company adjusted earnings in 20249 • Group life mortality ratio5,6 83.0% – less favorable underwriting vs. a record low mortality ratio of 79.1% in 2Q24 and below the bottom end of the annual target range of 84%-89% • Non-medical health ratio5,7 74.8% modestly above the annual target range of 69%-74% vs. 70.8% in 2Q24 • Adjusted PFOs up 4%, driven by growth in core and voluntary products • Sales up 9% year-to-date, led by growth in regional business and strong re-enrollment across products Underwriting Ratios5 ($ in millions) 2Q25 2Q24 % change FY24 FY23 %change Adjusted Earnings2 $400 $533 (25%) $1,664 $1,628 2% Adjusted Premiums, Fees, & Other Revenues (PFOs) $6,446 $6,210 4% $24,870 $23,929 4% Provides financial products and services to 94 of the top 100 Fortune 500® and over 80% of all Fortune 500® companies Serving more than 55,000 U.S. group customers and 50 million U.S. employees and their dependents Largest non-medical, commercial carrier4 in the U.S. group insurance industry 7 $19.8 billion in policyholder benefits and claims in 2024 Product offerings: Life, Dental, Disability, Accidental Death & Dismemberment (AD&D), Vision, Accident & Health, Legal Plans, Pet 6

• 12. 12 Pension Risk Transfer (PRT) 17% Structured Settlements 9% Institutional Income Annuities 2% Stable Value 25% Benefit Funding Solutions 12% Longevity Reinsurance 10% Capital Markets Investment Products 21% Other6 4% Liability Exposures by Product Retirement & Income Solutions (RIS)1 Diversified set of market leading businesses 1 As of 6/30/2025, unless otherwise noted. 2 Adjusted earnings available to common shareholders, excluding total notable items. 3 Adjusted PFOs, excluding PRT. 4 Includes Longevity Reinsurance and Benefit Funding Solutions. 5 Annualized general account spreads. 6 Other includes the legacy pensions business. 7 As of 2Q25, and all comparisons presented are to 2Q24, unless otherwise noted. 8 Full year 2024 results contribution. Excludes total notable items and Corporate & Other. Investment Spreads5 Overview Key Highlights7 • Contributed 23% of total company adjusted earnings in 20248 • Adjusted earnings2 down 10% – less favorable recurring interest margins compared to 2Q24 • Adjusted PFOs, excluding PRT up 24%, primarily driven by continued growth in UK Longevity Reinsurance • Total liability exposures of $297 billion, as of 6/30/25, up 6% $ (in millions) 2Q25 2Q24 % change FY24 FY23 %change Adjusted Earnings2 $368 $410 (10%) $1,563 $1,647 (5%) Adjusted Premiums, Fees, & Other Revenues (PFOs)3 $1,027 $830 24% $3,745 $3,508 7% Provides funding and financing solutions that help institutional customers mitigate and manage liabilities Generates a combination of spread, fee-based earnings, and underwriting Broad set of market leading businesses: Stable Value, Pension Risk Transfer (PRT), Structured Settlements, Institutional Income Annuities, Risk Solutions4, and Capital Markets Investments Products (CMIP) 2Q24 3Q24 4Q24 1Q25 2Q25 FY23 FY24 Investment spreads 1.21% 1.06% 1.12% 1.14% 1.02% 1.25% 1.17% Investment spreads ex. VII 1.19% 1.08% 1.08% 1.01% 1.01% 1.38% 1.15% $297 billion Annuities Risk Solutions

• 13. 13 $354 $456 $1,643 $1,352 $279 $237 $796 $965 2Q24 2Q25 2023 2024 Japan Other Asia • Contributed 25% of total company adjusted earnings in 20248 • Adjusted earnings2 down 22% on both a reported and on a constant currency basis primarily due to less favorable investment and underwriting margins, partially offset by volume growth • General account AUM6 up 6% - strong sales and moderation in surrender activity • Sales5 up 9% - driven mostly by Japan sales, which were up 29%, with growth across all products, mainly in life and annuities, as well as strong sales in Other Asia, driven by Korea sales up 36% Japan is MetLife’s second largest market Leading foreign insurer in Korea Diverse set of product offerings: protection, health and savings products to ~19 million customers in 9 markets Asia1 Achieving disciplined growth through a diversified and differentiated business model – A market leader in Japan, well-positioned to win across both mature and growth markets 1 As of 6/30/2025, unless otherwise noted. 2 Adjusted earnings available to common shareholders, excluding total notable items. 3 Overview based on MetLife internal analysis, unless otherwise noted. 4 Based on gross written premiums (GWP), 2023. 5 Sales on an annualized new premiums (ANP) basis. Quarter-to-date sales are on a constant currency basis calculated using the current period average foreign exchange rate, and the full year sales are on a constant currency basis calculated using the average foreign exchange rates for each of the respective quarters of the full year presented. 6 General account AUM at amortized cost, on a constant currency basis. 7 As of 2Q25, and all comparisons presented are to 2Q24, unless otherwise noted. 8 Full year 2024 results contribution. Excludes total notable items and Corporate & Other. Sales5 ($ in millions) General Account AUM6 ($ in millions) Overview3 Key Highlights7 $633 $693 $2,439 $2,317 ($ in millions) 2Q25 2Q24 % change FY24 FY23 % change Adjusted Earnings2 $350 $449 (22%) $1,662 $1,376 21% #3 multinational insurer in the region4 ~180 bank partners around the region ~57,000 career agents and Building presence in growth markets: ~239,000 general agents China and India 9% (5%) 6% YoY 131,264 134,192 134,197 136,683 139,158 2Q24 3Q24 4Q24 1Q25 2Q25

• 14. 14 Mexico 50% Chile 28% Brazil 18% Colombia & Uruguay 4% $1.5 billion 2024 Sales Mix 8 • Contributed 13% of total company adjusted earnings in 202410 • Record adjusted earnings3 of $877 million in 2024 • Adjusted earnings3 up 3% and 15% on a constant currency basis, primarily due to volume growth across the region as well as favorable Chilean encaje returns • Adjusted PFOs up 8% and 18% on a constant currency basis, driven by strong growth and solid persistency across the region Agency 38% Employee Benefits 30% Third-Party Distribution 32% $1.5 billion Latin America1 #1 life insurer2 in the region – Competitive positioning, strength of franchise and innovative digital capabilities accelerating growth Overview4 Key Highlights9 Diverse set of product offerings: life insurance, retirement, savings, personal accident and health products Serving almost 30 million customers across Mexico, Chile, Brazil, Colombia, and Uruguay #1 life insurer in Mexico5 and Chile6, and fast-growing presence in Brazil7 Well-diversified distribution, positioned to capture growth opportunities 2024 Sales Distribution Mix8 $ (in millions) 2Q25 2Q24 % change FY24 FY23 %change Adjusted Earnings3 $233 $226 3% $877 $840 4% Adjusted Premiums, Fees, & Other Revenues (PFOs) $1,634 $1,506 8% $5,936 $5,727 4% 1 As of 6/30/2025, unless otherwise noted. 2 Latinoinsurance, Based on GWP 2024. Includes Life, Personal accidents and Health as reported to local Insurance regulators. 3 Adjusted earnings available to common shareholders, excluding total notable items. 4 Overview based on MetLife internal analysis, unless otherwise noted. 5 AMIS (Asociación Mexicana de Instituciones de Seguros), based on GWP 2024. 6 AACH (Asociación de Aseguradoras de Chile), based on GWP 2024. 7In terms of gross written premium among the top 10 companies operating in Brazil. MetLife internal analysis of publicly available information from Superintendência de Seguros Privados. 8 Sales on an annualized new premiums (ANP) basis. Full year sales are using the foreign exchange rates for each of the respective quarters of the full year presented. 9 As of 2Q25, and all comparisons presented are to 2Q24, unless otherwise noted. 10 Full year 2024 results contribution. Excludes total notable items and Corporate & Other.

• 15. 15 $273 $849 $309 $1,070 Europe, the Middle East and Africa (EMEA)1 Geographically diverse set of market-segmented protection businesses focused on cash generation 1 As of 6/30/2025, unless otherwise noted. 2 Adjusted earnings available to common shareholders, excluding total notable items. 3 Overview based on MetLife internal analysis, unless otherwise noted. 4 Sales on an annualized new premiums (ANP) basis. Quarter-to-date sales are on a constant currency basis calculated using the current period average foreign exchange rate, and the full year sales are on a constant currency basis calculated using the average foreign exchange rates for each of the respective quarters of the full year presented. 5 As of 2Q25, and all comparisons presented are to 2Q24, unless otherwise noted. 6 Full year 2024 results contribution. Excludes total notable items and Corporate & Other. Overview3 Key Highlights5 • Contributed 4% of total company adjusted earnings in 20246 • Adjusted earnings2 up 30% on both a reported and on a constant currency basis, driven primarily by strong volume growth across the region • Adjusted PFOs up 16% and 14% on a constant currency basis • Sales4 up 13% on a constant currency basis, reflecting strength across the region ($ in millions) 2Q25 2Q24 % change FY24 FY23 % change Adjusted Earnings2 $100 $77 30% $288 $247 17% Adjusted Premiums, Fees, & Other Revenues $719 $621 16% $2,548 $2,346 9% EMEA is MetLife’s most diverse region, with a presence in 23 markets across 3 different continents EMEA is divided into 4 geographies: Europe, Gulf, Levant, and Turkey Leading provider of Bancassurance & Direct Insurance distribution with ~150 partnerships Strong presence across faceto-face distribution networks: Over 4,000 captive agents Circa 1,400 brokers and 3rd party networks Sales4 ($ in millions) 2Q24 2Q25 2023 2024 13% 26%

• 16. 16 1 As of 6/30/2025, unless otherwise noted. 2 Adjusted earnings available to common shareholders, excluding total notable items. 3 As of 2Q25, and all comparisons presented are to 2Q24, unless otherwise noted. 4 Full year 2024 results contribution. Excludes total notable items and Corporate & Other. • C&O adjusted loss of ($233) versus an adjusted loss of ($220) in 2Q24 MetLife Holdings (MLH)1 High quality legacy block; cash generation supports EPS accretion Overview Key Highlights3 • Contributed 10% of total company adjusted earnings in 20244 • Adjusted earnings2 down 6%, reflecting lower VII as well as continued run-off of the business, partially offset by favorable underwriting Corporate & Other (C&O)1 Key Highlights Overview 3 ($ in millions) 2Q25 2Q24 % change FY24 FY23 % change Adjusted Earnings2 $144 $153 (6%) $635 $731 (13%) ($ in millions) 2Q25 2Q24 FY24 FY23 Adjusted Earnings2 ($233) ($220) ($919) ($882) MetLife Holdings represents MetLife’s U.S. Retail legacy run-off business MLH includes the following products: ‒ Variable, Universal, Term, and Whole Life insurance ‒ Variable, Fixed, and Index-linked annuities ‒ Long-term care insurance (LTC) Also included in C&O are various start-up, developing, and run-off businesses Corporate & Other includes various expenses such as corporate overhead, interest expense, and pension costs, as well as MetLife Investment Management (MIM)

• 17. 17 Scale across asset classes and client types Multi-decade outperformance The power of MetLife brings unique advantages MetLife Investment Management on path to $1T AUM $624B Total AUM1 $201B Institutional Client AUM1 Top player across fixed income and private capital 1As of 6/30/2025. At estimated fair value. See MetLife’s 2Q 2025 Total Assets Under Management Fact Sheet for further information.

• 18. 18 Disciplined investment strategy supports a narrower range of outcomes Diversified, high quality portfolio Disciplined asset liability management for resiliency across market cycles Highly diversified portfolio supported by deep expertise Diversification and expertise enhance relative value General Account AUM1 32.3% 16.2% 18.1% 9.6% 7.4% 6.2% 4.0% 3.6% 1.9% 0.7% Investment Grade Corporate Net Mortgage Loans² Structured Products Foreign Government U.S. Government and Agency Cash and Short-Term Investments³ Corporate Equity Real Estate Equity Below Investment Grade Corporate Accrued Investment Income $439B 1 As of 6/30/2025, at estimated fair value. See MetLife’s 2Q 2025 General Account Assets Under Management Fact Sheet for further information. 2 Net mortgage loans excludes $6.6 billion of mortgage loans originated for third parties at estimated fair value. 3 Cash and Short-Term Investments includes cash equivalents.

• 19. 19 Internal Rate of Return 2019 2020 2021 2022 2023 15% 17% 17% 17% 19% Capital Deployed ($B) $3.8 $3.2 $2.8 $3.7 $3.6 VNB1($B) $1.8 $1.9 $1.9 $2.3 $2.6 Payback (years) 7 6 6 6 5 Deploying capital at attractive IRR and shorter payback periods 1 VNB is the present value of future profits net of the cost of capital and time value of guarantees from new sales.

• 20. 20 Consistent capital return across environments Common Stock Dividend Share Repurchases 1.2 4.3 3.3 3.1 3.2 1.6 1.7 1.6 1.6 1.5 2020 2021 2022 2023 2024 Payout Ratio 48% 78% 86% 84% 81% 2020 2021 2022 2023 2024 $2.8 $6.0 $4.9 $4.7 $4.7 1 Capital returned to shareholders, $B 1 Paused shareholder buybacks for Q2 and Q3 in 2020; Acquired Versant Health for $1.7 billion.

• 21. 21 $4.4 $4.5 $5.1 $4.5 $5.2 2Q24 3Q24 4Q24 1Q25 2Q25 Strong capital, liquidity and ratings Our robust balance sheet gives us the financial flexibility to weather storms and take advantage of market opportunities Holding Company Cash1 • Total cash return to shareholders of $892 million in 2Q25 ̶ Share repurchases of $510 million in 2Q25, year-to-date of ~$2.1 billion, including ~$140 million in July 2025 ̶ Common stock dividends of $382 million in 2Q25 • Expected total U.S. Statutory Adjusted Capital2 on an NAIC3 basis of $17.1 billion at 6/30/25, down 3% from $17.6 billion at 3/31/25 • Expected Japan Solvency Margin Ratio of 710% at 6/30/25 Capital Ratings4 1 Includes cash and liquid assets at MetLife, Inc. and other holding companies at quarter-end. 2 Includes MetLife, Inc.'s principal U.S. insurance subsidiaries, excluding American Life Insurance Company for both periods. 3 National Association of Insurance Commissioners. 4 As of 7/1/2025. 5 Ratings for Metropolitan Life Insurance Company and Metropolitan Tower Life Insurance Company. 6 Ratings for MetLife, Inc. senior unsecured notes. Moody’s Aa3 A3 Stable Financial Strength5 Debt Rating6 Outlook S&P Global Ratings AA- A- Stable Stable Stable AaAAA+ Fitch Ratings AM Best Rating Agency $3.0 to $4.0 Cash Buffer ($ in billions)

• 22. Living our purpose Sustainability1 at MetLife 1 For more information on sustainability at MetLife, refer to the sustainability website at www.MetLife.com/sustainability. 2 World’s Best Workplaces list (2024). 3 Great Place to Work (2024). 4 Average relationship Net Promoter Score gain across priority markets from 2019 to the fourth quarter 2024. 5 Represents benefits to policyholders including claim- and reserve-related activity from 2020 to 2024. 6 Total giving from January 2020 through the third quarter 2024. 7 Teneo analysis for S&P 500 TSR for January 1, 2020 to December 5, 2024. 8 TSR from January 1, 2020 to December 31, 2024. 9 Dividends on common stock from January 1, 2020 to December 31, 2024. Highlights from our 2024 Sustainability Report: 22 82% — 2024 Favorability for Engagement on MyVoice (all-time high); +7 points since 2019 #13 on Fortune World’s 25 Best Workplaces 2 22 markets recognized with Great Place to Work® certification3 Energizing Our People Named to America's Most JUST Companies List 2024 —Top 100 by JUST Capital 500,000+ volunteer hours completed from 2020 to 2024 $170M+ MetLife Foundation grants over 5 years6 Supporting Our Communities Outpaced ~2/3 of the companies in the S&P 5007 Generated ~90% 5-year total shareholder return (TSR)8 Paid cumulative common shareholder dividends of ~$8B9 Delivering For Our Shareholders 77% — 2024 Favorability for Customer Focus Score on MyVoice; +12% since 2019 +23 points on relationship Net Promoter Score: Strengthening customer relationships and loyalty4 $220B+ in benefits delivered to policyholders over 5 years5 Caring For Our Customers

• 23. 23 MetLife’s executive leadership team An experienced, diverse, and engaged set of insurance and financial services leaders Michel Khalaf President & Chief Executive Officer Over 35 years in the industry John McCallion Executive Vice President Chief Financial Officer Head of MetLife Investment Management Over 25 years in the industry Eric Clurfain Regional President, Latin America Over 25 years in the industry Marlene Debel Executive Vice President Chief Risk Officer Head of MetLife Insurance Investments Over 30 years in the industry Nuria Garcia Regional President, EMEA Over 25 years in the industry Michael Roberts Executive Vice President Chief Marketing Officer Over 25 years in the industry Lyndon Oliver Regional President, Asia Over 35 years in the industry Bill Pappas Executive Vice President Head of Global Technology and Operations Over 30 years in the industry Ramy Tadros Regional President, U.S. Business Head of MetLife Holdings Over 20 years in the industry Monica Curtis Executive Vice President Chief Legal Officer Over 15 years in the industry Shurawl Sibblies Executive Vice President Chief Human Resources Officer Over 25 years in the industry For more information about MetLife’s executive leadership team refer to the Corporate Governance section of MetLife’s website: https://www.metlife.com/about-us/corporate-governance/our-executive-leadership-team/

• 24. Appendix

• 25. 25 Cautionary Statement on Forward-Looking Statements The forward-looking statements in this presentation, using words such as “anticipate,” “are confident,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “if,” “intend,” “likely,” “may,” “plan,” “potential,” “project,” “should,” “target,” “will,” “would” and other words and terms of similar meaning or that are otherwise tied to future periods or future performance, in each case in all derivative forms, are based on assumptions and expectations that involve risks and uncertainties, including the “Risk Factors” MetLife, Inc. describes in its U.S. Securities and Exchange Commission filings. MetLife’s future results could differ, and it does not undertake any obligation to publicly correct or update any of these statements.

• 26. 26 Explanatory Note on Non-GAAP and Other Financial Information Any references in this presentation (except in this Explanatory Note on Non-GAAP Financial Information and Reconciliations) to: Should be read as, respectively: (i) net income (loss); (i) net income (loss) available to MetLife, Inc.’s common shareholders; (ii) net income (loss) per share; (ii) net income (loss) available to MetLife, Inc.’s common shareholders per diluted common share; (iii) adjusted earnings; (iii) adjusted earnings available to common shareholders; (iv) adjusted earnings per share; (iv) adjusted earnings available to common shareholders per diluted common share; (v) book value per share; (v) book value per common share; (vi) adjusted book value per share; (vi) adjusted book value per common share; (vii) return on equity; and (vii) return on MetLife, Inc.’s common stockholders’ equity; and (viii) adjusted return on equity. (viii) adjusted return on MetLife, Inc.’s common stockholders’ equity. In this presentation, MetLife presents certain measures of its performance on a consolidated and segment basis that are not calculated in accordance with accounting principles generally accepted in the United States of America (GAAP). MetLife believes that these non-GAAP financial measures enhance our investors' understanding of MetLife’s performance by highlighting the results of operations and the underlying profitability drivers of the business. Segment-specific financial measures are calculated using only the portion of consolidated results attributable to that specific segment. The following non-GAAP financial measures should not be viewed as substitutes for the most directly comparable financial measures calculated in accordance with GAAP: Non-GAAP financial measures: Comparable GAAP financial measures: (i) adjusted premiums, fees and other revenues; (i) premiums, fees and other revenues; (ii) adjusted premiums, fees and other revenues, excluding PRT; (ii) premiums, fees and other revenues; (iii) adjusted capitalization of deferred policy acquisition costs (DAC); (iii) capitalization of DAC; (iv) adjusted earnings available to common shareholders; (iv) net income (loss) available to MetLife, Inc.’s common shareholders; (v) adjusted earnings available to common shareholders, excluding total notable items; (v) net income (loss) available to MetLife, Inc.’s common shareholders; (vi) adjusted earnings available to common shareholders per diluted common share; (vi) net income (loss) available to MetLife, Inc.’s common shareholders per diluted common share; (vii) adjusted earnings available to common shareholders, excluding total notable items, per diluted common share; (vii) net income (loss) available to MetLife, Inc.’s common shareholders per diluted common share; (viii) adjusted return on equity; (viii) return on equity; (ix) adjusted return on equity, excluding total notable items; (ix) return on equity; (x) adjusted other expenses; (x) other expenses; (xi) adjusted other expenses, net of adjusted capitalization of DAC; (xi) other expenses, net of capitalization of DAC; (xii) adjusted other expenses, net of adjusted capitalization of DAC, excluding total notable items related to adjusted other expenses; (xii) other expenses, net of capitalization of DAC; (xiii) adjusted expense ratio; (xiii) expense ratio; (xiv) adjusted expense ratio, excluding total notable items related to adjusted other expenses and PRT; (xiv) expense ratio; (xv) direct expenses; (xv) other expenses; (xvi) direct expenses, excluding total notable items related to direct expenses; (xvi) other expenses; (xvii) direct expense ratio; (xvii) expense ratio; (xviii) direct expense ratio, excluding total notable items related to direct expenses and PRT; and (xviii) expense ratio; and (xviiii) free cash flows of all holding companies. (xviiii) MeLife, Inc. (parent company) net cash provided by (used in) operating activities.

• 27. 27 Explanatory Note on Non-GAAP and Other Financial Information (Continued) Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are not accessible on a forward-looking basis because we believe it is not possible without unreasonable effort to provide other than a range of net investment gains and losses and net derivative gains and losses, which can fluctuate significantly within or outside the range and from period to period and may have a material impact on net income. Any of these financial measures shown on a constant currency basis reflect the impact of changes in foreign currency exchange rates and are calculated using the average foreign currency exchange rates for the current period and applied to the comparable prior period (“constant currency basis”). Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in this presentation and in this period’s earnings news release, which is available at MetLife’s Investor Relations webpage (https://investor.metlife.com). MetLife’s definitions of non-GAAP and other financial measures discussed in this presentation may differ from those used by other companies: Adjusted earnings and related measures • adjusted earnings; • adjusted earnings available to common shareholders; • adjusted earnings available to common shareholders, excluding total notable items; • adjusted earnings available to common shareholders per diluted common share; • adjusted earnings available to common shareholders, excluding total notable items per diluted common share; and • adjusted earnings available to common shareholders, on a constant currency basis. Adjusted earnings is used by MetLife's chief operating decision maker, its chief executive officer, to evaluate performance and allocate resources. Consistent with GAAP guidance for segment reporting, adjusted earnings is MetLife’s GAAP measure of segment performance. Adjusted earnings and related measures based on adjusted earnings are also the measures by which senior management’s and many other employees’ performance is evaluated for the purposes of determining their compensation under applicable compensation plans. Adjusted earnings and related measures based on adjusted earnings allow analysis of MetLife's performance relative to its business plan and facilitate comparisons to industry results. Adjusted earnings is defined as adjusted revenues less adjusted expenses, net of income tax. Adjusted earnings available to common shareholders is defined as adjusted earnings less preferred stock dividends. Adjusted earnings, along with the related adjusted revenues, adjusted expenses and adjusted premiums, fees and other revenues, focus on our primary businesses principally by excluding the impact of (i) market volatility which could distort trends, (ii) asymmetrical and non-economic accounting, (iii) revenues and costs related to divested businesses, and (iv) other adjustments. Also, adjusted earnings and related measures exclude results of discontinued operations under GAAP. Market volatility can have a significant impact on MetLife's financial results. Adjusted earnings excludes net investment gains (losses), net derivative gains (losses), market risk benefit remeasurement gains (losses) and goodwill impairments. Further, net investment income is adjusted to exclude similar items relating to joint ventures accounted for under the equity method ("Joint venture adjustments"), and policyholder benefits and claims exclude (i) changes in the discount rate on certain annuitization guarantees accounted for as additional liabilities and (ii) market value adjustments.

• 28. 28 Explanatory Note on Non-GAAP and Other Financial Information (Continued) Asymmetrical and non-economic accounting adjustments are made in calculating adjusted earnings: • Net investment income includes earned income on derivatives and amortization of premium on derivatives that are hedges of investments or that are used to replicate certain investments, but do not qualify for hedge accounting treatment ("Investment hedge adjustments"). • Other revenues include settlements of foreign currency earnings hedges and exclude asymmetrical accounting associated with in-force reinsurance. • Policyholder benefits and claims excludes (i) amortization of basis adjustments associated with de-designated fair value hedges of future policy benefits, (ii) inflation-indexed benefit adjustments associated with contracts backed by inflationindexed investments, (iii) asymmetrical accounting associated with in-force reinsurance, and (iv) non-economic losses incurred at contract inception for certain single premium annuity business. These losses are amortized into adjusted earnings within policyholder benefits and claims over the estimated lives of the contracts. • Policyholder liability remeasurement gains (losses) excludes asymmetrical accounting associated with in-force reinsurance. • Interest credited to policyholder account balances excludes amounts associated with periodic crediting rate adjustments based on the total return of a contractually referenced pool of assets and other pass-through adjustments and asymmetrical accounting associated with in-force reinsurance. “Divested businesses” are those that have been or will be sold or exited by MetLife but do not meet the discontinued operations criteria under GAAP. Divested businesses also include the net impact of transactions with exited businesses that have been eliminated in consolidation under GAAP and costs relating to businesses that have been or will be sold or exited by MetLife that do not meet the criteria to be included in results of discontinued operations under GAAP. Other adjustments are made in calculating adjusted earnings: • Net investment income and interest credited to policyholder account balances exclude certain amounts related to contractholder-directed equity securities ("Unit-linked contract income" and "Unit-linked contract costs"). • Other expenses exclude (i) implementation of new insurance regulatory requirements and other costs, and (ii) acquisition, integration and other related costs. Other expenses include (i) deductions for net income attributable to noncontrolling interests, and (ii) benefits accrued on synthetic guaranteed interest contracts ("GICs") accounted for as freestanding derivatives. • Net investment income and other expenses also exclude Reinsurance adjustments (as defined below). • Other revenues include fee revenue on synthetic GICs accounted for as freestanding derivatives. • Other revenues exclude and other expenses include fees received in connection with services provided under transition service agreements. • "Reinsurance adjustments" relate to amounts subject to ceded reinsurance arrangements with third-parties, including (i) the related investment returns and expenses which are passed through to the third-party reinsurers and (ii) the corresponding invested assets and cash and cash equivalents. Adjusted earnings also excludes the recognition of certain contingent assets and liabilities that could not be recognized at acquisition or adjusted for during the measurement period under GAAP business combination accounting guidance. The tax impact of the adjustments mentioned above are calculated net of the U.S. or foreign statutory tax rate, which could differ from MetLife's effective tax rate. Additionally, the provision for income tax (expense) benefit also includes the impact related to the timing of certain tax credits, as well as certain tax reforms. In addition, adjusted earnings available to common shareholders excludes the impact of preferred stock redemption premium, which is reported as a reduction to net income (loss) available to MetLife, Inc.’s common shareholders. Investment portfolio gains (losses) and derivative gains (losses) These are measures of investment and hedging activity. Investment portfolio gains (losses) principally excludes amounts that are reported within net investment gains (losses) but do not relate to the performance of the investment portfolio, such as gains (losses) on sales and divestitures of businesses, as well as investment portfolio gains (losses) of divested businesses. Derivative gains (losses) principally excludes earned income on derivatives and amortization of premium on derivatives, where such derivatives are either hedges of investments or are used to replicate certain investments, and where such derivatives do not qualify for hedge accounting. This earned income and amortization of premium is reported within adjusted earnings and not within derivative gains (losses).

• 29. 29 Explanatory Note on Non-GAAP and Other Financial Information (Continued) Return on equity and related measures • Total MetLife, Inc.’s adjusted common stockholders’ equity: total MetLife, Inc.’s common stockholders’ equity, excluding unrealized investment gains (losses), net of related offsets, deferred gains (losses) on derivatives, future policy benefits discount rate remeasurement gains (losses), market risk benefits instrument-specific credit risk remeasurement gains (losses) and defined benefit plans adjustment components of accumulated other comprehensive income ("AOCI") and the estimated fair value of certain ceded reinsurance-related embedded derivatives, all net of income tax. • Total MetLife, Inc.’s adjusted common stockholders’ equity, excluding total notable items: total MetLife, Inc.’s common stockholders’ equity, excluding unrealized investment gains (losses), net of related offsets, deferred gains (losses) on derivatives, future policy benefits discount rate remeasurement gains (losses), market risk benefits instrument-specific credit risk remeasurement gains (losses) and defined benefit plans adjustment components of AOCI, the estimated fair value of certain ceded reinsurance-related embedded derivatives and total notable items, all net of income tax. • Return on MetLife, Inc.’s common stockholders’ equity: net income (loss) available to MetLife, Inc.’s common shareholders divided by MetLife, Inc.'s average common stockholders’ equity. • Adjusted return on MetLife, Inc.’s common stockholders’ equity: adjusted earnings available to common shareholders divided by MetLife, Inc.'s average adjusted common stockholders’ equity. • Adjusted return on MetLife, Inc.’s common stockholders’ equity, excluding total notable items: adjusted earnings available to common shareholders, excluding total notable items, divided by MetLife, Inc.'s average adjusted common stockholders’ equity, excluding total notable items. The above measures represent a level of equity that excludes most components of AOCI, such as unrealized investment gains (losses), net of related offsets, and future policy benefits discount rate remeasurement gains (losses), as well as the impact of certain ceded reinsurance-related embedded derivatives, as these amounts are primarily driven by market volatility. Expense ratio, direct expense ratio, adjusted expense ratio and related measures • Expense ratio: other expenses, net of capitalization of DAC, divided by premiums, fees and other revenues. • Direct expense ratio: adjusted direct expenses, divided by adjusted premiums, fees and other revenues. Direct expenses are comprised of employee-related costs, third-party staffing costs, and general and administrative expenses. • Direct expense ratio, excluding total notable items related to direct expenses and PRT: adjusted direct expenses, excluding total notable items related to direct expenses, divided by adjusted premiums, fees and other revenues, excluding PRT. • Adjusted expense ratio: adjusted other expenses, net of adjusted capitalization of DAC, divided by adjusted premiums, fees and other revenues. • Adjusted expense ratio, excluding total notable items related to adjusted other expenses and PRT: adjusted other expenses, net of adjusted capitalization of DAC, excluding total notable items related to adjusted other expenses, divided by adjusted premiums, fees and other revenues, excluding PRT. General Account (GA) assets under management (GA AUM) GA AUM is used by MetLife to describe assets in its GA investment portfolio. GA AUM is stated at estimated fair value and is comprised of GA total investments, the portion of the GA investment portfolio classified within assets held-for-sale, cash and cash equivalents and accrued investment income on such assets, and excludes policy loans, contractholder-directed equity securities fair value option securities, mortgage loans originated for third parties, assets subject to ceded reinsurance arrangements with third-party reinsurers, and certain other invested assets. Mortgage loans, net of mortgage loans originated for third parties (“net mortgage loans”) (including commercial (“net commercial mortgage loans”), agricultural ("net agricultural mortgage loans") and residential mortgage loans) and real estate equity (including real estate and real estate joint ventures) included in GA AUM (at net asset value, net of deduction for encumbering debt) have been adjusted from carrying value to estimated fair value. Classification of GA AUM by sector is based on the nature and characteristics of the underlying investments which can vary from how they are classified under GAAP. Accordingly, the underlying investments within certain real estate and real estate joint ventures that are primarily net commercial mortgage loans (at net asset value, net of deduction for encumbering debt) have been reclassified to exclude them from real estate equity and include them as net commercial mortgage loans. Asia GA AUM and related measures Asia GA AUM is used by MetLife to describe assets in its Asia GA investment portfolio. Asia GA AUM is stated at estimated fair value and is comprised of Asia GA total investments, the portion of the Asia GA investment portfolio classified within assets held-for-sale, cash and cash equivalents, and accrued investment income on such assets, and excludes policy loans, contractholder-directed equity securities, fair value option securities, mortgage loans originated for third parties, assets subject to ceded reinsurance arrangements with third-party reinsurers, and certain other invested assets. Mortgage loans, net of mortgage loans originated for third parties ("net mortgage loans") (including commercial ("net commercial mortgage loans"), agricultural ("net agricultural mortgage loans") and residential mortgage loans) and real estate equity (including real estate and real estate joint ventures) included in Asia GA AUM (at net asset value, net of deduction for encumbering debt) have been adjusted from carrying value to estimated fair value. At the segment level, intersegment balances (intercompany activity, primarily related to investments in subsidiaries, that eliminate at the MetLife consolidated level) are excluded from Asia GA AUM. Asia GA AUM (at amortized cost) excludes the following adjustments: (i) unrealized gain (loss) on investments carried at estimated fair value and (ii) adjustments from carrying value to estimated fair value on net mortgage loans (including net commercial mortgage loans, net agricultural mortgage loans and residential mortgage loans) and real estate and real estate joint ventures. Asia GA AUM (at amortized cost) is presented net of related allowance for credit loss.

• 30. 30 Explanatory Note on Non-GAAP and Other Financial Information (Continued) Statistical sales information: • Group Benefits: calculated using 10% of single premium deposits and 100% of annualized full-year premiums and fees from recurring premium policy sales of all products. • Retirement and Income Solutions: calculated using 10% of single premium contracts, on and off-balance sheet deposits, and the contract value for new UK longevity reinsurance contracts, and 100% of annualized full-year premiums and fees only from recurring premium policy sales of specialized benefit resources and corporate-owned life insurance. • Asia, Latin America and EMEA: calculated using 10% of single premium deposits (mainly from retirement products such as variable annuity, fixed annuity and pensions), 20% of single premium deposits from credit insurance and 100% of annualized full-year premiums and fees from recurring-premium policy sales of all products (mainly from risk and protection products such as individual life, accident & health and group). Sales statistics do not correspond to revenues under GAAP, but are used as relevant measures of business activity. The following additional information is relevant to an understanding of MetLife’s performance: • Volume growth, where cited, represents the change in certain measures of our segment results, including adjusted earnings, attributable to business growth, applying a model in which certain margins and factors are held constant, the most significant of which are underwriting margins, investment margins, changes in equity market performance, expense margins and the impact of changes in foreign currency exchange rates. • PRT includes UK funded reinsurance. • Holding company cash and liquid assets are held by MetLife, Inc. collectively with other MetLife holding companies and include cash and cash equivalents, short term investments and publicly traded securities excluding assets that are pledged or otherwise committed. Assets pledged or otherwise committed include amounts received in connection with securities lending, repurchase agreements, derivatives, regulatory deposits, the collateral financing arrangement, funding agreements and secured borrowings, as well as amounts held in the closed block. • MetLife uses a measure of free cash flow to facilitate an understanding of its ability to generate cash for reinvestment into its businesses or use in non-mandatory capital actions. MetLife defines free cash flow as the sum of cash available at MetLife’s holding companies from dividends from operating subsidiaries, expenses and other net flows of the holding companies (including capital contributions to subsidiaries), and net contributions from debt to be at or below target leverage ratios. This measure of free cash flow is prior to capital actions, such as common stock dividends and repurchases, debt reduction and mergers and acquisitions. Free cash flow should not be viewed as a substitute for net cash provided by (used in) operating activities calculated in accordance with GAAP. The free cash flow ratio is typically expressed as a percentage of annual adjusted earnings available to common shareholders. • Notable items reflect the unexpected impact of events that affect MetLife’s results, but that were unknown and that MetLife could not anticipate when it devised its business plan. Notable items also include certain items regardless of the extent anticipated in the business plan, to help investors have a better understanding of MetLife's results and to evaluate and forecast those results. Notable items represent a positive (negative) impact to adjusted earnings available to common shareholders. • We refer to observable forward yield curves as of a particular date in connection with making our estimates for future results. The observable forward yield curves at a given time are based on implied future interest rates along a range of interest rate durations. This includes the 10-year U.S. Treasury rate which we use as a benchmark rate to describe longer-term interest rates used in our estimates for future results.

• 31. 31 Reconciliation of Net Income (Loss) Available to MetLife, Inc.’s Common Shareholders to Adjusted Earnings Available to Common Shareholders 2Q25 2Q24 Earnings Per Weighted Average Common Share Diluted1 Earnings Per Weighted Average Common Share Diluted1 (In millions, except per share data) Net Income (loss) available to MetLife, Inc.'s common shareholders $ 698 $ 1.03 $ 912 $ 1.28 Adjustments from net income (loss) available to MetLife, Inc.'s common shareholders to adjusted earnings available to common shareholders: Less: Net investment gains (losses) (273) (0.40) (421) (0.59) Less: Net derivative gains (losses) (796) (1.18) (508) (0.71) Less: Market risk benefit remeasurement gains (losses) 277 0.41 182 0.25 Less: Other adjustments to net income (loss) (61) (0.10) (232) (0.32) Less: Provision for income tax (expense) benefit 195 0.29 270 0.38 Add: Net income (loss) attributable to noncontrolling interests 6 0.01 7 0.01 Adjusted earnings available to common shareholders 1,362 2.02 1,628 2.28 Less: Total notable items — — — — Adjusted earnings available to common shareholders, excluding total notable items $ 1,362 $ 2.02 $ 1,628 $ 2.28 Adjusted earnings available to common shareholders on a constant currency basis $ 1,362 $ 2.02 $ 1,605 $ 2.25 Adjusted earnings available to common shareholders, excluding total notable items, on a $ 1,362 $ 2.02 $ 1,605 $ 2.25 constant currency basis Weighted average common shares outstanding - diluted 675.0 714.7 1Adjusted earnings available to common shareholders, excluding total notable items, per diluted common share is calculated on a standalone basis and may not equal (i) adjusted earnings available to common shareholders per diluted common share, less (ii) total notable items per diluted common share.

• 32. 32 Reconciliation of Net Income (Loss) Available to MetLife, Inc.’s Common Shareholders to Adjusted Earnings Available to Common Shareholders FY24 FY23 FY191 Earnings Per Weighted Average Common Share Diluted2 Earnings Per Weighted Average Common Share Diluted2 Earnings Per Weighted Average Common Share Diluted2 (In millions, except per share data) Net Income (loss) available to MetLife, Inc.'s common shareholders $ 4,226 $ 5.94 $ 1,380 $ 1.81 $ 5,721 $ 6.06 Adjustments from net income (loss) available to MetLife, Inc.'s common shareholders to adjusted earnings available to common shareholders: Less: Net investment gains (losses) (1,184) (1.67) (2,824) (3.70) 444 0.47 Less: Net derivative gains (losses) (1,623) (2.28) (2,140) (2.81) 628 0.66 Less: Market risk benefit remeasurement gains (losses) 1,109 1.56 994 1.30 — — Less: Other adjustments to net income (loss) (541) (0.76) (1,185) (1.56) (881) (0.93) Less: Provision for income tax (expense) benefit 687 0.97 1,034 1.36 (227) (0.24) Add: Net income (loss) attributable to noncontrolling interests 18 0.03 24 0.03 10 0.01 Adjusted earnings available to common shareholders 5,796 8.15 5,525 7.25 5,767 6.11 Less: Total notable items 26 0.04 (62) (0.08) 47 0.05 Adjusted earnings available to common shareholders, excluding total notable items $ 5,770 $ 8.11 $ 5,587 $ 7.33 $ 5,720 $ 6.06 Adjusted earnings available to common shareholders, excluding total notable items $ 5,770 Less: Corporate & Other adjusted earnings available to common shareholders, excluding total notable items (919) Adjusted earnings available to common shareholders, excluding Corporate & Other and total notable items $ 6,689 Weighted average common shares outstanding - diluted 711.1 762.3 944.4 1Financial results for 2019 are presented on a pre-Long-Duration Targeted Improvements (LDTI) basis. 2Adjusted earnings available to common shareholders, excluding total notable items, per diluted common share is calculated on a standalone basis and may not equal (i) adjusted earnings available to common shareholders per diluted common share, less (ii) total notable items per diluted common share.

• 33. 33 Reconciliation to Adjusted Earnings Available to Common Shareholders, Excluding Total Notable Items 2Q25 Group Benefits1 RIS1 Asia Latin America EMEA MetLife Holdings1 Corporate & Other1 (In millions) Adjusted earnings available to common shareholders $ 400 $ 368 $ 350 $ 233 $ 100 $ 144 $ (233) Less: Total notable items — — — — — — — Adjusted earnings available to common shareholders, excluding total notable items $ 400 $ 368 $ 350 $ 233 $ 100 $ 144 $ (233) Adjusted earnings available to common shareholders, on a constant currency basis $ 350 $ 233 $ 100 Adjusted earnings available to common shareholders, excluding total notable items, on a constant currency basis $ 350 $ 233 $ 100 2Q24 Group Benefits1 RIS1 Asia Latin America EMEA MetLife Holdings1 Corporate & Other1 (In millions) Adjusted earnings available to common shareholders $ 533 $ 410 $ 449 $ 226 $ 77 $ 153 $ (220) Less: Total notable items — — — — — — — Adjusted earnings available to common shareholders, excluding total notable items $ 533 $ 410 $ 449 $ 226 $ 77 $ 153 $ (220) Adjusted earnings available to common shareholders, on a constant currency basis $ 449 $ 203 $ 77 Adjusted earnings available to common shareholders, excluding total notable items, on a constant currency basis $ 449 $ 203 $ 77 1Results on a constant currency basis are not included as constant currency impact is not significant.

• 34. 34 Reconciliation to Adjusted Earnings Available to Common Shareholders, Excluding Total Notable Items FY24 Group Benefits RIS Asia Latin America EMEA MetLife Holdings Corporate & Other (In millions) Adjusted earnings available to common shareholders $ 1,606 $ 1,667 $ 1,621 $ 881 $ 283 $ 647 $ (909) Less: Total notable items (58) 104 (41) 4 (5) 12 10 Adjusted earnings available to common shareholders, excluding total notable items $ 1,664 $ 1,563 $ 1,662 $ 877 $ 288 $ 635 $ (919) FY23 Group Benefits RIS Asia Latin America EMEA MetLife Holdings Corporate & Other (In millions) Adjusted earnings available to common shareholders $ 1,655 $ 1,708 $ 1,282 $ 840 $ 265 $ 733 $ (958) Less: Total notable items 27 61 (94) — 18 2 (76) Adjusted earnings available to common shareholders, excluding total notable items $ 1,628 $ 1,647 $ 1,376 $ 840 $ 247 $ 731 $ (882)

• 35. 35 Equity Details FY24 FY23 (In millions) Equity Details Total MetLife, Inc.'s stockholders' equity $ 27,445 $ 30,015 Less: Preferred stock 3,818 3,818 MetLife, Inc.'s common stockholders' equity 23,627 26,197 Less: Net unrealized investment gains (losses), net of income tax (19,402) (14,506) Deferred gains (losses) on derivatives, net of income tax 370 183 Future policy benefits discount rate remeasurement gain (losses), net of income tax 6,529 2,658 Market risk benefits instrument-specific credit risk remeasurement gains (losses), net of income tax (71) 27 Defined benefit plans adjustment, net of income tax (1,442) (1,446) Estimated fair value of certain ceded reinsurance-related embedded derivatives, net of income tax (129) — Total MetLife, Inc.'s adjusted common stockholders' equity 37,772 39,281 Less: Accumulated year-to-date total notable items, net of income tax 26 (62) Total MetLife, Inc.'s adjusted common stockholders' equity, excluding total notable items $ 37,746 $ 39,343 Average Common Stockholders' Equity Average common stockholders' equity $ 25,008 Average adjusted common stockholders' equity $ 38,084 Average adjusted common stockholders' equity, excluding total notable items $ 38,076

• 36. 36 Book Value and Return on Equity 2Q25 2Q24 FY24 FY23 Book Value1 Book value per common share $ 35.79 $ 33.30 $ 34.28 $ 35.85 Less: Unrealized investment gains (losses), net of related offsets and income tax (24.72) (27.26) (28.15) (19.85) Deferred gains (losses) on derivatives, net of income tax (2.20) 0.14 0.54 0.25 Future policy benefits discount rate remeasurement gain (losses), net of income tax 8.81 9.38 9.46 3.64 Market risk benefits instrument-specific credit risk remeasurement gains (losses), net of income tax (0.10) (0.10) (0.10) 0.04 Defined benefit plans adjustment, net of income tax (2.11) (1.98) (2.09) (1.98) Estimated fair value of certain ceded reinsurance-related embedded derivatives, net of income tax (0.12) — (0.19) — Adjusted book value per common share $ 56.23 $ 53.12 $ 54.81 $ 53.75 Common shares outstanding, end of period (in millions) 666.8 703.8 689.2 730.8 Return on Equity Return on MetLife, Inc.'s: Common stockholders' equity 16.9 % Adjusted return on MetLife, Inc.'s: Adjusted common stockholders' equity 15.2 % Adjusted common stockholders' equity, excluding total notable items 15.2 % 1Book values exclude $3,818 million of equity related to preferred stock at June 30, 2025, June 30, 2024, December 31, 2024 and December 31, 2023.

• 37. 37 Adjusted Premiums, Fees and Other Revenues 2Q25 2Q24 FY24 FY23 (In millions) RIS Adjusted premiums, fees and other revenues $ 1,355 $ 2,582 $ 8,594 $ 8,832 Less: PRT 328 1,752 4,849 5,324 Adjusted premiums, fees and other revenues, excluding PRT $ 1,027 $ 830 $ 3,745 $ 3,508 Latin America Adjusted premiums, fees and other revenues $ 1,634 $ 1,506 $ 5,936 $ 5,727 Adjusted premiums, fees and other revenues, on a constant currency basis $ 1,634 $ 1,386 EMEA Adjusted premiums, fees and other revenues $ 719 $ 621 $ 2,548 $ 2,346 Adjusted premiums, fees and other revenues, on a constant currency basis $ 719 $ 631

• 38. 38 Condensed Reconciliation of Net Cash Provided by Operating Activities of MetLife, Inc. to Free Cash Flow of All Holding Companies FY24 FY23 FY22 FY21 FY20 (In billions, except ratios) MetLife, Inc. (parent company only) net cash provided by operating activities $ 4.7 $ 4.2 $ 4.4 $ 3.8 $ 3.5 Adjustments from net cash provided by operating activities to free cash flow: Add: Incremental debt to be at or below target leverage ratios — — 1.0 — 1.4 Add: Adjustments from net cash provided by operating activities to free cash flow1(0.1) (0.7) (0.2) (0.3) (0.2) MetLife, Inc. (parent company only) free cash flow 4.6 3.5 5.2 3.5 4.7 Other MetLife, Inc. holding companies free cash flow2 — 0.1 (0.5) 0.3 (0.7) Free cash flow of all holding companies $ 4.6 $ 3.6 $ 4.7 $ 3.8 $ 4.0 1Adjustments include: (i) capital contributions to subsidiaries; (ii) returns of capital from subsidiaries; (iii) repayments on and (issuances of) loans to subsidiaries, net; and (iv) investment portfolio and derivatives changes and other, net. 2Components include: (i) dividends and returns of capital from subsidiaries; (ii) capital contributions to subsidiaries; (iii) repayments on and (issuances of) loans to subsidiaries, net; (iv) other expenses; (v) dividends and returns of capital to MetLife, Inc. and (vi) investment portfolio and derivative changes and other, net.