F&Gアニュイティーズ&ライフの適時開示・決算・その他

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

現行レポート

1934年米国証券取引所法第13条または第15条(d)に基づき

報告日（最も古いイベントの報告日）：2024年11月6日

f&g annuities & life, inc.

(登録者の正確な名称)

001-41490

(Commission File Number)


デラウェア			85-2487422
(法人設立の州またはその他の管轄区域)			(IRS Employer Identification No.)
801 grand avenue, suite 2600 des moines, iowa 50309 (address of principal executive offices) (866) 846-4660 (telephone number's registrant's telephone number, including area code) (former name or former address, if changed since last report) (旧名称または旧住所（最終報告以降に変更された場合）))

Form8-Kの提出が、以下の条項のいずれかに基づく登録者の提出義務を同時に満たすことを意図している場合は、以下の該当するチェックボックスをチェックしてください：


☐			証券法に基づく規則425に従った書面によるコミュニケーション（17 cfr 230.425)
☐			取引所法の下でのルール14a-12（17 cfr 240.14a-12）に基づく資料の勧誘。)
☐			取引所法の規則14d-2(b)に基づく開始前のコミュニケーション（17 cfr 240.14d-2(b))
☐			証券取引法の規則13e-4(c)に基づく開始前のコミュニケーション（17 cfr 240.13e-4(c))

法第12条(b)項に基づいて登録された証券:


Title of Each Class	Trading Symbol	登録されている各取引所の名称
f&g社普通株式、額面0.001ドル	FG	New York Stock Exchange
2053 年満期 7.950%シニア・ノート	FGN	New York Stock Exchange

登録者が1933年証券法規則405（本章230.405節）または1934年証券取引法規則12b-2（本章240.12b-2節）で定義される新興成長企業であるかどうかをチェックマークで示す。

Emerging growth company ☐

新興成長企業の場合、登録者が取引所法第13条(a)に従い提供される新規または改訂された財務会計基準に準拠するための移行期間の延長を利用しないことを選択した場合は、チェックマークで示す。☐

Item 2.02. 営業成績および財務状況

2024 年 11 月 6 日、F&G Annuities & Life, Inc.（以下「会社」または「F&G」）は、2024 年 9 月 30 日をもって終了した第 3 四半期の業績を発表する決算リリースを発表した。F&G 業績リリースのコピーは本フォーム 8-K カレント・レポートの別紙 99.1 として添付されている。また、当社は四半期財務補足資料を本フォーム 8-K の別紙 99.2 として提供している。

本項目2.02で言及されている証拠資料を含む以下の情報は、本項目2.02に従って提供されるものであり、改正1934年証券取引法第18条において「提出された」とみなされるものではなく、また、当該提出書類において特定の参照により明示的に規定されている場合を除き、改正1933年証券取引法に基づく登録届出書またはその他の書類に参照により組み込まれるものでもありません。

Item 7.01. Regulation FD Disclosure

2024年11月6日、当社は2024年9月30日に終了した第3四半期の補足プレゼンテーションを投資家向けに公開した。F&Gの投資家向けプレゼンテーションのコピーは、本Current Report on Form 8-Kの別紙99.3として添付されている。

本項目7.01で言及されている証拠資料を含む以下の情報は、本項目7.01に従って提供されるものであり、当該提出書類において明示的に参照規定されている場合を除き、改正1934年証券取引法第18条において「提出された」とはみなされず、また同条の法的義務の対象となるものでもなく、改正1933年証券取引法に基づく登録届出書またはその他の書類に参照により組み込まれたとはみなされないものとします。

Item 9.01. 財務諸表および添付資料

(d) 出展物


Exhibit						Description
99.1						F&Gの 2024年第3四半期決算を発表するプレスリリース（ 11月6日付） 2024.
99.2						2024 年 11 月 6 日付 F&G 2024 年第 3 四半期財務補足書類。
99.3						2024年 11月6日付 F&G Fall 2024 Investor Presentation 。
104						表紙インタラクティブ・データ・ファイル - 表紙xbrlタグはインラインxbrl文書内に埋め込まれます。

SIGNATURE

1934年証券取引法の要件に従い、登録者は本報告書に正式に権限を付与された署名者により、登録者を代表して署名させた。


	f&g annuities & life, inc.


Date: November 6, 2024	By:	/s/ Michael L. Gravelle
		Name:	Michael L. Gravelle
		Title:	エグゼクティブ・バイス・プレジデント、ジェネラル・カウンセル兼コーポレート・セクレタリー

EX-99.1 2 a3q24fgearningsrelease_f.htm EX-99.1 a3q24fgearningsrelease_f

F&G Annuities & Life Reports Third Quarter 2024 Results Des Moines, Iowa – (November 6, 2024) – F&G Annuities & Life, Inc. (NYSE: FG) (F&G or the Company) a leading provider of insurance solutions serving retail annuity and life customers and institutional clients, today reported financial results for the third quarter ended September 30, 2024. Net loss attributable to common shareholders (net loss) for the third quarter was $10 million, or $0.08 per diluted share (per share), compared to net earnings of $306 million, or $2.45 per share, for the third quarter of 2023. Net loss for the third quarter of 2024 included $150 million of net unfavorable mark-to-market effects and $16 million of other unfavorable items; all of which are excluded from adjusted net earnings. Net earnings for the third quarter of 2023 included $191 million of net favorable mark-to-market effects and $5 million of other unfavorable items; all of which are excluded from adjusted net earnings. Adjusted net earnings attributable to common shareholders (adjusted net earnings) for the third quarter were $156 million, or $1.22 per share, compared to $120 million, or $0.96 per share for the third quarter of 2023. Adjusted net earnings include significant income and expense items and alternative investment portfolio returns from short-term mark-to-market movement that differ from long-term return expectations. The third quarter of 2024 includes short-term investment income from alternative investments, $21 million of CLO redemption gains and bond prepay income, and $14 million tax valuation allowance benefit; partially offset by $17 million net expense from actuarial assumption updates. The third quarter of 2023 included short-term investment income from alternative investments. Please see “Third Quarter 2024 Results” and “Non-GAAP Measures and Other Information” for further explanation. Company Highlights • Sustainable sales growth across multi-channel platform: Gross sales of $3.9 billion for the third quarter, an increase of 39% over the third quarter 2023, primarily driven by record retail channel sales • Record invested assets with strong investment returns: Record assets under management before flow reinsurance of $62.9 billion at the end of the third quarter, an increase of 20% over the third quarter 2023. This included record assets under management (AUM) of $52.5 billion, an increase 11% over the third quarter 2023 driven by retained new business flows and net debt and equity proceeds over the past twelve months. The investment portfolio is performing well, as expected • Strong and expanding adjusted return on assets (ROA), excluding significant items: Demonstrated ROA expansion above baseline of 110 basis points shared at our Investor Day in October 2023 • Solid balance sheet supports both organic growth and return of capital to shareholders: F&G returned $31 million of capital to shareholders from common and preferred dividends in the third quarter Chris Blunt, Chief Executive Officer, commented, “Our strong results through the first nine months have positioned us well for the remainder of the year and we continue to make great progress toward our Investor Day targets. We have profitably grown assets under management before flow reinsurance to a record $62.9 billion at the end of the quarter. Gross sales of $3.9 billion increased 39% over the third quarter of 2023 and were boosted by record retail sales of $3.5 billion, nearly double the third quarter of 2023. We continue to benefit as consumers want to secure the relatively higher interest rates, guaranteed tax deferred growth and principal protection that annuity products offer, and we are seeing a healthy PRT pipeline with some significant early wins in the fourth quarter. Excluding significant items, we generated $179 million of adjusted net earnings in the third quarter and expanded our trailing twelve months adjusted return on assets to 126 basis points. I am confident in our ability to expand our margin even in a lower rate environment and we will continue to benefit from our accretive flow reinsurance and owned distribution strategies, setting F&G apart.”

Summary Financial Results1 (In millions, except per share data) Three Months Ended Nine Months Ended September 30, 2024 September 30, 2023 2024 2023 Total gross sales $ 3,878 $ 2,781 $ 11,793 $ 9,070 Net sales $ 2,386 $ 2,268 $ 8,133 $ 6,689 Assets under management (AUM) $ 52,464 $ 47,103 $ 52,464 $ 47,103 Average assets under management (AAUM) YTD $ 50,970 $ 45,357 $ 50,970 $ 45,357 AUM before flow reinsurance $ 62,875 $ 52,577 $ 62,875 $ 52,577 Adjusted return on assets 1.05 % 0.76 % 1.05 % 0.76 % Net earnings (loss) $ (10) $ 306 $ 299 $ 241 Net earnings (loss) per share $ (0.08) $ 2.45 $ 2.38 $ 1.93 Adjusted net earnings $ 156 $ 120 $ 403 $ 260 Adjusted net earnings per share $ 1.22 $ 0.96 $ 3.18 $ 2.08 Book value per common share $ 32.51 $ 18.98 $ 32.51 $ 18.98 Book value per common share, excluding AOCI $ 42.28 $ 43.30 $ 42.28 $ 43.30 Third Quarter 2024 Results Robust profitable gross sales: Gross sales were $3.9 billion for the third quarter, an increase of 39% over the third quarter of 2023, primarily driven by record retail sales. Record Retail channel sales were $3.5 billion for the third quarter, an increase of 84% over the third quarter of 2023, driven by favorable economic conditions and strong demand for retirement savings products. Institutional market sales were nearly $0.4 billion of pension risk transfer for the third quarter, compared to $0.9 billion of pension risk transfer and funding agreements in third quarter of 2023. Institutional sales are opportunistic and volumes vary quarter to quarter. Net sales were $2.4 billion for the third quarter, an increase of 4% over the third quarter of 2023. Record assets under management before flow reinsurance was $62.9 billion at the end of the third quarter, an increase of 20% over the third quarter of 2023. This included record AUM of $52.5 billion, an increase of 11% from third quarter 2023. A rollforward of AUM can be found in the Non-GAAP Measures section of this release. Adjusted net earnings were $156 million, or $1.22 per share, in the third quarter, compared to $120 million, or $0.96 per share for the third quarter of 2023. Adjusted net earnings include significant income and expense items and alternative investment portfolio returns from short-term mark-to-market movement that differ from long-term return expectations. • Adjusted net earnings of $156 million, or $1.22 per share, for the third quarter of 2024 include $131 million, or $1.00 per share, of investment income from alternative investments, $21 million, or $0.15 per share, of CLO redemption gains and bond prepay income, and $14 million, or $0.11 per share, of tax valuation allowance; partially offset by $17 million, or $0.13 per share, of net expense from actuarial assumption updates. Alternative investments investment income based on management’s long-term expected return of approximately 10% was $172 million, or $1.31 per share. • Adjusted net earnings of $120 million, or $0.96 per share, for the third quarter of 2023 include $114 million, or $0.91 per share, of investment income from alternative investments. Alternative investments investment income based on management’s long-term expected return of approximately 10% was $142 million, or $1.13 per share. As compared to the prior year, the adjusted net earnings increase reflects asset growth, margin diversification from accretive flow reinsurance fees and owned distribution margin, disciplined expense management and higher interest expense due to planned capital market activity. 1See definition of non-GAAP measures below

Capital and Liquidity Highlights Total F&G equity attributable to common shareholders excluding AOCI was $5.3 billion, or $42.28 per share, based on 126 million common shares outstanding as of September 30, 2024. This reflects an increase of $1.86 per share, or 5%, during the first nine months, as compared to $40.42 as of December 31, 2023, including the net decrease of $0.24, or 1%, during the current quarter as shown below. Book value per common share excluding AOCI as of June 30, 2024 $ 42.52 Adjusted net earnings and other 1.11 Book value per common share excluding AOCI, before capital actions & mark-to-market $ 43.63 Capital actions (0.15) Book value per common share excluding AOCI, before mark-to-market $ 43.48 Mark-to-market movement (1.20) Book value per common share excluding AOCI as of September 30, 2024 $ 42.28 Our consolidated debt outstanding was $2.1 billion at September 30, 2024. Our debt to capitalization ratio, excluding AOCI, was 26.5% as of September 30, 2024. In early October, F&G issued $500 million of senior notes and net proceeds have been used to fully paydown its $365 million revolver balance, with the remainder to be used for general corporate purposes. During the third quarter, F&G returned $31 million of capital to shareholders from common and preferred dividends. Conference Call We will host a call with investors and analysts to discuss F&G’s third quarter 2024 results on Thursday, November 7, 2024, beginning at 9:00 a.m. Eastern Time. A live webcast of the conference call will be available on the F&G Investor Relations website at fglife.com. The conference call replay will be available via webcast through the F&G Investor Relations website at fglife.com. About F&G F&G is committed to helping Americans turn their aspirations into reality. F&G is a leading provider of insurance solutions serving retail annuity and life customers and institutional clients and is headquartered in Des Moines, Iowa. For more information, please visit fglife.com. Use of Non-GAAP Financial Information Generally Accepted Accounting Principles (GAAP) is the term used to refer to the standard framework of guidelines for financial accounting. GAAP includes the standards, conventions, and rules accountants follow in recording and summarizing transactions and in the preparation of financial statements. In addition to reporting financial results in accordance with GAAP, this presentation includes non-GAAP financial measures, which the Company believes are useful to help investors better understand its financial performance, competitive position and prospects for the future. Management believes these non-GAAP financial measures may be useful in certain instances to provide additional meaningful comparisons between current results and results in prior operating periods. Our non-GAAP measures may not be comparable to similarly titled measures of other organizations because other organizations may not calculate such non-GAAP measures in the same manner as we do. The presentation of this financial information is not intended to be considered in isolation of or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. By disclosing these non-GAAP financial measures, the Company believes it offers investors a greater understanding of, and an enhanced level of transparency into, the means by which the Company’s management operates the Company. Any non-GAAP measures should be considered in context with the GAAP financial presentation and should not be considered in isolation or as a substitute for GAAP net earnings, net earnings attributable to common shareholders, or any other measures derived in accordance with GAAP as measures of operating performance or liquidity. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures are provided within.

Forward-Looking Statements and Risk Factors This press release contains forward-looking statements that are subject to known and unknown risks and uncertainties, many of which are beyond our control. Some of the forward-looking statements can be identified by the use of terms such as “believes”, “expects”, “may”, “will”, “could”, “seeks”, “intends”, “plans”, “estimates”, “anticipates” or other comparable terms. Statements that are not historical facts, including statements regarding our expectations, hopes, intentions or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: general economic conditions and other factors, including prevailing interest and unemployment rate levels and stock and credit market performance; natural disasters, public health crises, international tensions and conflicts, geopolitical events, terrorist acts, labor strikes, political crisis, accidents and other events; concentration in certain states for distribution of our products; the impact of interest rate fluctuations; equity market volatility or disruption; the impact of credit risk of our counterparties; changes in our assumptions and estimates regarding amortization of our deferred acquisition costs, deferred sales inducements and value of business acquired balances; regulatory changes or actions, including those relating to regulation of financial services affecting (among other things) underwriting of insurance products and regulation of the sale, underwriting and pricing of products and minimum capitalization and statutory reserve requirements for insurance companies, or the ability of our insurance subsidiaries to make cash distributions to us; and other factors discussed in “Risk Factors” and other sections of F&G's Form 10-K and other filings with the Securities and Exchange Commission (SEC). SOURCE: F&G Annuities & Life, Inc. CONTACT: Lisa Foxworthy-Parker SVP of Investor & External Relations Investor.relations@fglife.com 515.330.3307

F&G ANNUITIES & LIFE, INC. CONSOLIDATED BALANCE SHEETS (In millions, except per share data) (Unaudited) Assets September 30, 2024 December 31, 2023 Investments Fixed maturity securities available for sale, at fair value, (amortized cost of $49,026), net of allowance for credit losses of $62 at September 30, 2024 $ 46,909 $ 40,419 Preferred securities, at fair value 289 469 Equity securities, at fair value 146 137 Derivative investments 1,401 797 Mortgage loans, net of allowance for credit losses of $69 at September 30, 2024 5,626 5,336 Investments in unconsolidated affiliates (certain investments at fair value of $272 at September 30, 2024) 3,666 3,071 Other long-term investments 675 608 Short-term investments 681 1,452 Total investments $ 59,393 $ 52,289 Cash and cash equivalents 3,539 1,563 Reinsurance recoverable, net of allowance for credit losses of $21 at September 30, 2024 12,404 8,960 Goodwill 2,179 1,749 Prepaid expenses and other assets 942 931 Other intangible assets, net 5,349 4,207 Market risk benefits asset 134 88 Income taxes receivable 2 27 Deferred tax asset, net 181 388 Total assets $ 84,123 $ 70,202 Liabilities and Equity Contractholder funds $ 55,468 $ 48,798 Future policy benefits 8,268 7,050 Market risk benefits liability 603 403 Accounts payable and accrued liabilities 3,291 2,011 Notes payable 2,038 1,754 Funds withheld for reinsurance liabilities 9,980 7,083 Total liabilities $ 79,648 $ 67,099 Equity Preferred stock $0.001 par value; authorized 25,000,000 shares as of September 30, 2024; outstanding and issued shares of 5,000,000 as of September 30, 2024 — — Common stock $0.001 par value; authorized 500,000,000 shares as of September 30, 2024; outstanding and issued shares of 126,094,481 and 127,123,308 as of September 30, 2024, respectively — — Additional paid-in-capital 3,456 3,185 Retained earnings 2,145 1,926 Accumulated other comprehensive income (loss) ("AOCI") (1,231) (1,990) Treasury stock, at cost (1,028,827 shares as of September 30, 2024) (24) (18) Total F&G Annuities & Life, Inc. shareholders' equity $ 4,346 $ 3,103 Non-controlling interests 129 — Total equity $ 4,475 $ 3,103 Total liabilities and equity $ 84,123 $ 70,202

F&G ANNUITIES & LIFE, INC. CONSOLIDATED STATEMENTS OF OPERATIONS THIRD QUARTER INFORMATION (In millions, except per share data) (Unaudited) Three months ended Nine months ended September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 Revenues Life insurance premiums and other fees $ 506 $ 582 $ 1,711 $ 1,523 Interest and investment income 712 578 2,012 1,622 Owned distribution revenues 20 — 61 — Recognized gains and (losses), net 206 (309) 401 (257) Total revenues 1,444 851 4,185 2,888 Benefits and expenses Benefits and other changes in policy reserves 1,095 292 2,864 1,921 Market risk benefit (gains) losses 71 (49) 80 (20) Depreciation and amortization 147 108 417 302 Personnel costs 80 58 215 167 Other operating expenses 45 38 149 107 Interest expense 36 24 94 71 Total benefits and expenses 1,474 471 3,819 2,548 Earnings (loss) before income taxes (30) 380 366 340 Income tax expense (benefit) (25) 74 51 99 Net earnings (loss) (5) 306 315 241 Less: Non-controlling interests 1 — 3 — Net earnings (loss) attributable to F&G (6) 306 312 241 Less: Preferred stock dividend 4 — 13 — Net earnings (loss) attributable to F&G common shareholders $ (10) $ 306 $ 299 $ 241 Net earnings (loss) attributable to F&G common shareholders per common share Basic $ (0.08) $ 2.47 $ 2.41 $ 1.94 Diluted $ (0.08) $ 2.45 $ 2.38 $ 1.93 Weighted average common shares used in computing net earnings (loss) per common share Basic 124 124 124 124 Diluted 124 125 131 125

Non-GAAP Measures and Other Information RECONCILIATION OF NET EARNINGS (LOSS) AND ADJUSTED NET EARNINGS (LOSS) Three months ended Nine months ended September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 Reconciliation of net earnings (loss) to adjusted net earnings attributable to common shareholders ¹ Net earnings (loss) attributable to common shareholders $ (10) $ 306 $ 299 $ 241 Non-GAAP adjustments Recognized (gains) and losses, net Net realized and unrealized (gains) losses on fixed maturity available-for-sale securities, equity securities and other invested assets (15) 14 (100) 89 Change in allowance for expected credit losses 10 5 32 33 Change in fair value of reinsurance related embedded derivatives 178 (36) 186 (34) Change in fair value of other derivatives and embedded derivatives (127) 13 (58) 12 Recognized (gains) losses, net 46 (4) 60 100 Market related liability adjustments 145 (237) 19 (95) Purchase price amortization 22 5 63 16 Transaction costs and other non-recurring items — 1 (3) 3 Non-controlling interest (3) — (8) — Income taxes adjustment (44) 49 (27) (5) Adjusted net earnings attributable to common shareholders ¹ $ 156 $ 120 $ 403 $ 260 1See definition of non-GAAP measures below • Adjusted net earnings of $156 million, or $1.22 per share, for the third quarter of 2024 include $131 million, or $1.00 per share, of investment income from alternative investments, $21 million, or $0.15 per share, of CLO redemption gains and bond prepay income, and $14 million, or $0.11 per share, of tax valuation allowance benefit; partially offset by $17 million, or $0.13 per share, of net expense from actuarial assumption updates. Alternative investments investment income based on management’s long-term expected return of approximately 10% was $172 million, or $1.31 per share. • Adjusted net earnings of $120 million, or $0.96 per share, for the third quarter of 2023 included $114 million, or $0.91 per share, of investment income from alternative investments. Alternative investments investment income based on management’s long-term expected return of approximately 10% was $142 million, or $1.13 per share. • Adjusted net earnings of $403 million, or $3.18 per share, for the nine months ended September 30, 2024 include $376 million, or $2.87 per share, of investment income from alternative investments, $31 million or $0.23 per share of CLO redemption gains and bond prepay income, and $14 million, or $0.11 per share of tax valuation allowance benefit; partially offset by $33 million, or $0.25 per share, of net expense from actuarial assumption and model updates. Alternative investments investment income based on management’s long-term expected return of approximately 10% was $489 million, or $3.73 per share. • Adjusted net earnings of $260 million, or $2.08 per share, for the nine months ended September 30, 2023 included $295 million, or $2.36 per share, of investment income from alternative investments and $5 million, or $0.04 per share, of bond prepay income, partially offset by $37 million, or $0.30 per share, tax valuation allowance expense. Alternative investments investment income based on management’s long-term expected return of approximately 10% was $411 million, or $3.29 per share.

RECONCILIATION OF TOTAL EQUITY, TOTAL EQUITY EXCLUDING ACCUMULATED OTHER COMPREHENSIVE INCOME (AOCI), BOOK VALUE PER SHARE AND BOOK VALUE PER SHARE EXCLUDING AOCI Three months ended (In millions) September 30, 2024 June 30, 2024 March 31, 2024 Total F&G Annuities & Life, Inc. shareholders' equity 4,346 3,654 3,546 Less: Preferred stock 250 250 250 Total F&G equity attributable to common shareholders 4,096 3,404 3,296 Less: AOCI (1,231) (1,953) (1,883) Total F&G equity attributable to common shareholders, excluding AOCI $ 5,327 $ 5,357 $ 5,179 Common shares outstanding 126 126 126 Book value per common share $ 32.51 $ 27.02 $ 26.16 Book value per common share, excluding AOCI $ 42.28 $ 42.52 $ 41.10 ASSETS UNDER MANAGEMENT (AUM) ROLLFORWARD, AVERAGE ASSETS UNDER MANAGEMENT (AAUM) AND AUM BEFORE FLOW REINSURANCE Three months ended (In millions) September 30, 2024 June 30, 2024 March 31, 2024 AUM at beginning of period $ 52,208 $ 49,787 $ 49,103 Net new business asset flows 1,726 3,057 2,116 Net flow reinsurance to third parties (1,248) (930) (1,407) Net capital transaction proceeds (disbursements) (222) 294 (25) AUM at end of period¹ $ 52,464 $ 52,208 $ 49,787 AAUM YTD¹ $ 50,970 $ 50,181 $ 49,400 AUM before flow reinsurance $ 62,875 $ 61,370 $ 58,020 SALES HIGHLIGHTS Three months ended Nine months ended (In millions) September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 Total annuity sales 3,502 1,858 9,389 6,870 Indexed universal life ("IUL") 39 38 125 117 Funding agreements ("FABN/FHLB") — 415 1,020 871 Pension risk transfer ("PRT") 337 470 1,259 1,212 Gross sales(1) 3,878 2,781 11,793 9,070 Sales attributable to flow reinsurance to third parties (1,492) (513) (3,660) (2,381) Net sales(1) $ 2,386 $ 2,268 $ 8,133 $ 6,689 1See definition of non-GAAP measures below

DEFINITIONS The following represents the definitions of non-GAAP measures used by F&G: Adjusted Net Earnings attributable to common shareholders Adjusted net earnings attributable to common shareholders is a non-GAAP economic measure we use to evaluate financial performance each period. Adjusted net earnings attributable to common shareholders is calculated by adjusting net earnings (loss) attributable to common shareholders to eliminate: (i) Recognized (gains) and losses, net: the impact of net investment gains/losses, including changes in allowance for expected credit losses and other than temporary impairment (“OTTI”) losses, recognized in operations; and the effects of changes in fair value of the reinsurance related embedded derivative and other derivatives, including interest rate swaps and forwards; (ii) Market related liability adjustments: the impacts related to changes in the fair value, including both realized and unrealized gains and losses, of index product related derivatives and embedded derivatives, net of hedging cost; the impact of initial pension risk transfer deferred profit liability losses, including amortization from previously deferred pension risk transfer deferred profit liability losses; and the changes in the fair value of market risk benefits by deferring current period changes and amortizing that amount over the life of the market risk benefit; (iii) Purchase price amortization: the impacts related to the amortization of certain intangibles (internally developed software, trademarks and value of distribution asset and the change in fair value of liabilities recognized as a result of acquisition activities); (iv) Transaction costs: the impacts related to acquisition, integration and merger related items; (v) Other “non-recurring,” “infrequent” or “unusual items”: Management excludes certain items determined to be “non- recurring,” “infrequent” or “unusual” from adjusted net earnings when incurred if it is determined these expenses are not a reflection of the core business and when the nature of the item is such that it is not reasonably likely to recur within two years and/or there was not a similar item in the preceding two years; (vi) Non-controlling interest on non-GAAP adjustments: the portion of the non-GAAP adjustments attributable to the equity interest of entities that F&G does not wholly own; and (vii) Income taxes: the income tax impact related to the above-mentioned adjustments is measured using an effective tax rate, as appropriate by tax jurisdiction. While these adjustments are an integral part of the overall performance of F&G, market conditions and/or the non-operating nature of these items can overshadow the underlying performance of the core business. Accordingly, management considers this to be a useful measure internally and to investors and analysts in analyzing the trends of our operations. Adjusted net earnings should not be used as a substitute for net earnings (loss). However, we believe the adjustments made to net earnings (loss) in order to derive adjusted net earnings provide an understanding of our overall results of operations. Adjusted Weighted Average Diluted Shares Outstanding Adjusted weighted average diluted shares outstanding is the same as weighted average diluted shares outstanding except for periods in which our preferred stocks are calculated to be dilutive to either net earnings attributable to common shareholders or adjusted net earnings attributable to common shareholders, but not both, or there is a net earnings loss attributable to common shareholders on a GAAP basis, but positive adjusted net earnings attributable to common shareholders using the non-GAAP measure. The above exceptions are made to include relevant diluted shares when dilution occurs and exclude relevant diluted shares when dilution does not occur for adjusted net earnings attributable to common shareholders. Management considers this non-GAAP financial measure to be useful internally and for investors and analysts to assess the level of return driven by the Company that is available to common shareholders. Adjusted Net Earnings attributable to common shareholders per Diluted Share Adjusted net earnings attributable to common shareholders per diluted share is calculated as adjusted net earnings plus preferred stock dividend (if the preferred stock has created dilution). This sum is then divided by the adjusted weighted-average diluted shares outstanding. Management considers this non-GAAP financial measure to be useful internally and for investors and analysts to assess the level of return driven by the Company that is available to common shareholders. Adjusted Return on Assets attributable to Common Shareholders Adjusted return on assets attributable to common shareholders is calculated by dividing year-to-date annualized adjusted net earnings attributable to common shareholders by year-to-date AAUM. Return on assets is comprised of net investment income, less cost of funds, flow reinsurance fee income, owned distribution margin and less expenses (including operating expenses, interest expense and income taxes) consistent with our adjusted net earnings definition and related adjustments. Cost of funds includes liability costs related to cost of crediting as well as other liability costs. Management considers this non-GAAP financial measure to be useful internally and to investors and analysts when assessing financial performance and profitability earned on AAUM.

Adjusted Return on Average Common Shareholder Equity, excluding AOCI Adjusted return on average common shareholder equity is calculated by dividing the rolling four quarters adjusted net earnings attributable to common shareholders, by total average F&G equity attributable to common shareholders, excluding AOCI. Average equity attributable to common shareholders, excluding AOCI for the twelve month rolling period is the average of 5 points throughout the period. Since AOCI fluctuates from quarter to quarter due to unrealized changes in the fair value of available for sale investments, changes in instrument-specific credit risk for market risk benefits and discount rate assumption changes for the future policy benefits, management considers this non-GAAP financial measure to be a useful internally and for investors and analysts to assess the level return driven by the Company's adjusted earnings. Assets Under Management (AUM) AUM is comprised of the following components and is reported net of reinsurance assets ceded in accordance with GAAP: (i) total invested assets at amortized cost, excluding investments in unconsolidated affiliates, owned distribution and derivatives; (ii) investments in unconsolidated affiliates at carrying value; (iii) related party loans and investments; (iv) accrued investment income; (v) the net payable/receivable for the purchase/sale of investments; and (vi) cash and cash equivalents excluding derivative collateral at the end of the period. Management considers this non-GAAP financial measure to be useful internally and to investors and analysts when assessing the size of our investment portfolio that is retained. AUM before Flow Reinsurance AUM before Flow Reinsurance is comprised of components consistent with AUM, but also includes flow reinsured assets. Management considers this non-GAAP financial measure to be useful internally and to investors and analysts when assessing the size of our investment portfolio including reinsured assets. Average Assets Under Management (AAUM) (Quarterly and YTD) AAUM is calculated as AUM at the beginning of the period and the end of each month in the period, divided by the total number of months in the period plus one. Management considers this non-GAAP financial measure to be useful internally and to investors and analysts when assessing the rate of return on retained assets. Book Value per Common Share, excluding AOCI Book value per Common share, excluding AOCI is calculated as total F&G equity attributable to common shareholders divided by the total number of shares of common stock outstanding. Management considers this to be a useful measure internally and for investors and analysts to assess the capital position of the Company. Debt-to-Capitalization Ratio, excluding AOCI Debt-to-capitalization ratio is computed by dividing total aggregate principal amount of debt by total capitalization (total debt plus total equity, excluding AOCI). Management considers this non-GAAP financial measure to be useful internally and to investors and analysts when assessing its capital position. Return on Average F&G common shareholder Equity, excluding AOCI Return on average F&G common shareholder equity, excluding AOCI is calculated by dividing the rolling four quarters net earnings (loss) attributable to common shareholders, by total average F&G equity attributable to common shareholders, excluding AOCI. Average F&G equity attributable to common shareholders, excluding AOCI for the twelve month rolling period is the average of 5 points throughout the period. Since AOCI fluctuates from quarter to quarter due to unrealized changes in the fair value of available for sale investments, changes in instrument-specific credit risk for market risk benefits and discount rate assumption changes for the future policy benefits, management considers this non-GAAP financial measure to be useful internally and for investors and analysts to assess the level of return driven by the Company that is available to common shareholders.

Sales Annuity, IUL, funding agreement and non-life contingent PRT sales are not derived from any specific GAAP income statement accounts or line items and should not be viewed as a substitute for any financial measure determined in accordance with GAAP. Sales from these products are recorded as deposit liabilities (i.e., contractholder funds) within the Company's consolidated financial statements in accordance with GAAP. Life contingent PRT sales are recorded as premiums in revenues within the consolidated financial statements. Management believes that presentation of sales, as measured for management purposes, enhances the understanding of our business and helps depict longer term trends that may not be apparent in the results of operations due to the timing of sales and revenue recognition. Total Capitalization, excluding AOCI Total capitalization, excluding AOCI is based on total equity excluding the effect of AOCI and the total aggregate principal amount of debt. Since AOCI fluctuates from quarter to quarter due to unrealized changes in the fair value of available for sale investments, changes in instrument-specific credit risk for market risk benefits and discount rate assumption changes for the future policy benefits, management considers this non-GAAP financial measure to provide useful supplemental information internally and to investors and analysts to help assess the capital position of the Company. Total Equity, excluding AOCI Total equity, excluding AOCI is based on total equity excluding the effect of AOCI. Since AOCI fluctuates from quarter to quarter due to unrealized changes in the fair value of available for sale investments, changes in instrument-specific credit risk for market risk benefits and discount rate assumption changes for the future policy benefits, management considers this non- GAAP financial measure to provide useful supplemental information internally and to investors and analysts assessing the level of earned equity on total equity. Total F&G Equity attributable to common shareholders, excluding AOCI Total F&G equity attributable to common shareholder, excluding AOCI is based on total F&G Annuities & Life, Inc. shareholders' equity excluding the effect of AOCI and preferred stocks, including additional paid-in-capital. Since AOCI fluctuates from quarter to quarter due to unrealized changes in the fair value of available for sale investments, changes in instrument-specific credit risk for market risk benefits and discount rate assumption changes for the future policy benefits, management considers this non-GAAP financial measure to be useful internally and for investors and analysts to assess the level of return driven by the Company that is available to common shareholders.

EX-99.2 3 q32024financialsupplemen.htm EX-99.2 q32024financialsupplemen

Quarterly Financial Supplement ——————————— Third Quarter 2024 The financial statements and financial exhibits included herein are unaudited. These financial statements and exhibits should be read in conjunction with the Company's periodic reports on Form 10-K, Form 10-Q and Form 8-K as applicable. All dollar amounts are presented in millions except for per share amounts. Exhibit 99.2

Financial Results Financial Highlights 3 Consolidated Statements of Operations (GAAP) 4 Adjusted Net Earnings - Management View 5 Adjusted Net Earnings - Significant Income and Expense Items 6 Adjusted Return on Assets 7 Assets Under Management Rollforward and Average Assets Under Management 8 Interest and Investment Income and Yield 8 Consolidated Balance Sheets (GAAP) 9 Capitalization 10 Return on Equity Attributable to Common Shareholders 10 Investment Summary Summary of Invested Assets by Asset Class 11 Credit Quality of Fixed Maturity Securities, Asset-Backed Securities and CLO Securities 12 Product Summary GAAP Net Reserve Summary 13 Annuity Account Balance Rollforward 13 Annuity Liability Characteristics 14 Top 5 Reinsurers 14 Additional Information Ratings Overview 15 Shareholder Information 16 Non-GAAP Reconciliations 17 Non-GAAP Measures Definitions 21 F&G Annuities & Life, Inc. Financial Supplement - September 30, 2024 2

Financial Highlights Three months ended Nine months ended September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 September 30, 2024 September 30, 2023 SELECTED CONSOLIDATED STATEMENT OF OPERATIONS DATA Net earnings (loss) attributable to F&G $ (6) $ 203 $ 115 $ (299) $ 306 $ 312 $ 241 Net earnings (loss) attributable to common shareholders (10) 198 111 (299) 306 299 241 Net earnings (loss) attributable to common shareholders per diluted share ² (0.08) 1.55 0.88 (2.41) 2.45 2.38 1.93 Weighted-average diluted shares outstanding (in millions) 124 131 130 124 125 131 125 RELATED NON-GAAP MEASURES ¹ Adjusted net earnings attributable to common shareholders 156 139 108 75 120 403 260 Adjusted net earnings attributable to common shareholders per diluted share ² 1.22 1.10 0.86 0.60 0.96 3.18 2.08 Adjusted weighted-average diluted shares outstanding (in millions) 131 131 130 125 125 131 125 Adjusted return on assets attributable to common shareholders 1.05 % 0.98 % 0.87 % 0.73 % 0.76 % 1.05 % 0.76 % Adjusted return on average common shareholder equity, excluding AOCI 9.1 % 8.4 % 7.4 % 6.5 % 7.4 % 9.1 % 7.4 % SELECTED CONSOLIDATED BALANCE SHEET DATA Total assets 84,123 78,512 74,434 70,202 63,623 84,123 63,623 Total liabilities 79,648 74,724 70,751 67,099 61,251 79,648 61,251 Total equity 4,475 3,788 3,683 3,103 2,372 4,475 2,372 Total equity, excluding AOCI 5,706 5,741 5,566 5,093 5,412 5,706 5,412 Common shares outstanding (in millions) 126 126 126 126 125 126 125 RELATED NON-GAAP MEASURES ¹ Total F&G equity attributable to common shareholders, excluding AOCI 5,327 5,357 5,179 5,093 5,412 5,327 5,412 Book value per common share 32.51 27.02 26.16 24.63 18.98 32.51 18.98 Book value per common share, excluding AOCI 42.28 42.52 41.10 40.42 43.30 42.28 43.30 Assets under management ("AUM") 52,464 52,208 49,787 49,103 47,103 52,464 47,103 Average assets under management ("AAUM") YTD 50,970 50,181 49,400 46,044 45,357 50,970 45,357 AUM before flow reinsurance 62,875 61,370 58,020 55,928 52,577 62,875 52,577 SALES ¹ Indexed annuities ("FIA/RILA") $ 1,847 $ 1,648 $ 1,437 $ 1,142 $ 1,122 $ 4,932 $ 3,557 Fixed rate annuities ("MYGA") 1,655 1,475 1,327 1,753 736 4,457 3,313 Total annuity 3,502 3,123 2,764 2,895 1,858 9,389 6,870 Indexed universal life ("IUL") 39 44 42 39 38 125 117 Funding agreements ("FABN/FHLB") — 915 105 385 415 1,020 871 Pension risk transfer ("PRT") 337 338 584 764 470 1,259 1,212 Gross sales 3,878 4,420 3,495 4,083 2,781 11,793 9,070 Sales attributable to flow reinsurance to third parties (1,492) (975) (1,193) (1,534) (513) (3,660) (2,381) Net sales $ 2,386 $ 3,445 $ 2,302 $ 2,549 $ 2,268 $ 8,133 $ 6,689 ¹ Refer to "Non-GAAP Reconciliations" and "Non-GAAP Measures Definitions" in the additional information section. ² Beginning in 2024, diluted share count reflects the effect of 5 million common shares issuable upon the conversion of the FNF 6.875% Series A Mandatory Convertible Preferred Stock, par value $0.001 par value per share, when their effect was dilutive. For time periods when dilutive, the weighted average number of diluted shares includes assumed issuance of common shares upon conversion of the preferred stock, as well as the preferred stock dividends are not deducted from net earnings (loss) or adjusted net earnings (loss). F&G Annuities & Life, Inc. Financial Supplement - September 30, 2024 3

Consolidated Statements of Operations (GAAP) Three months ended Nine months ended September 30, 2024 ¹ June 30, 2024 ¹ March 31, 2024 ¹ December 31, 2023 September 30, 2023 September 30, 2024 ¹ September 30, 2023 Revenues Life insurance premiums and other fees $ 506 $ 487 $ 718 $ 890 $ 582 $ 1,711 $ 1,523 Interest and investment income 712 684 616 589 578 2,012 1,622 Owned distribution revenues 20 18 23 — — 61 — Recognized gains and (losses), net 206 (17) 212 133 (309) 401 (257) Total revenues 1,444 1,172 1,569 1,612 851 4,185 2,888 Benefits and expenses Benefits and other changes in policy reserves 1,095 608 1,161 1,632 292 2,864 1,921 Market risk benefit (gains) losses 71 20 (11) 115 (49) 80 (20) Depreciation and amortization 147 147 123 110 108 417 302 Personnel costs 80 69 66 65 58 215 167 Other operating expenses 45 46 58 39 38 149 107 Interest expense 36 28 30 26 24 94 71 Total benefits and expenses 1,474 918 1,427 1,987 471 3,819 2,548 Earnings (loss) before income taxes (30) 254 142 (375) 380 366 340 Income tax expense (benefit) (25) 50 26 (76) 74 51 99 Net earnings (loss) (5) 204 116 (299) 306 315 241 Less: Non-controlling interests 1 1 1 — — 3 — Net earnings (loss) attributable to F&G (6) 203 115 (299) 306 312 241 Less: Preferred stock dividend 4 5 4 — — 13 — Net earnings (loss) attributable to F&G common shareholders $ (10) $ 198 $ 111 $ (299) $ 306 $ 299 $ 241 Net earnings (loss) attributable to F&G common shareholders per common share Basic $ (0.08) $ 1.60 $ 0.90 $ (2.41) $ 2.47 $ 2.41 $ 1.94 Diluted $ (0.08) $ 1.55 $ 0.88 $ (2.41) $ 2.45 $ 2.38 $ 1.93 Weighted average common shares used in computing net earnings (loss) per common share Basic 124 124 124 124 124 124 124 Diluted 124 131 130 124 125 131 125 ¹ Reflects majority stake in owned distribution starting in January 2024. F&G Annuities & Life, Inc. Financial Supplement - September 30, 2024 4

Adjusted Net Earnings - Management View ¹ Three months ended Nine months ended September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 September 30, 2024 September 30, 2023 Interest and investment income - fixed income and other $ 514 $ 493 $ 475 $ 453 $ 444 $ 1,482 $ 1,275 Interest and investment income - alternatives (including short term mark- to-market) 150 167 112 124 129 429 328 Interest and investment income - variable 26 6 8 — — 40 6 Adjusted interest and investment income 690 666 595 577 573 1,951 1,609 Cost of funds (406) (390) (362) (384) (344) (1,158) (961) Product margin 284 276 233 193 229 793 648 Flow reinsurance fee income 22 21 15 23 27 58 35 Owned distribution margin 12 9 13 3 3 34 8 Operating expenses (103) (97) (94) (95) (90) (294) (256) Interest expense (36) (31) (30) (26) (24) (97) (71) Income tax (expense) benefit (19) (34) (25) (23) (25) (78) (104) Adjusted net earnings 160 144 112 75 120 416 260 Less: Preferred stock dividend 4 5 4 — — 13 — Adjusted net earnings attributable to common shareholders $ 156 $ 139 $ 108 $ 75 $ 120 $ 403 $ 260 Adjusted net earnings per common share Diluted $ 1.22 $ 1.10 $ 0.86 $ 0.60 $ 0.96 $ 3.18 $ 2.08 Weighted average common shares used in computing adjusted net earnings per common share Diluted 131 131 130 125 125 131 125 ¹ Refer to "Non-GAAP Reconciliations" and "Non-GAAP Measures Definitions" in the additional information section.. F&G Annuities & Life, Inc. Financial Supplement - September 30, 2024 5

Adjusted Net Earnings - Significant Income and Expense Items ¹ Each reporting period, we identify significant income and expense items that help explain the trends in our adjusted net earnings, as we believe these items provide further clarity to the financial performance of the business. Those significant income and expense items are reported after taxes ($ and shares in table in millions). Significant Income and Expense Items (Reflected in Adjusted Net Earnings) Alternatives Long-term Expected Return (Not Reflected in Adjusted Net Earnings) Weighted Average Diluted Shares Outstanding Three months ended September 30, 2024 Adjusted net earnings of $156 million for the three months ended September 30, 2024 included $131 million of investment income from alternative investments, $21 million of CLO redemptions and bond prepay income, and $14 million tax valuation allowance, partially offset by $17 million of net expense from actuarial assumption updates. Alternative investments investment income based on management’s long-term expected return of approximately 10% was $172 million. $149 $172 131 June 30, 2024 Adjusted net earnings of $139 million for the three months ended June 30, 2024 included $145 million of investment income from alternative investments and $4 million of CLO redemptions and bond prepay income, partially offset by $16 million of actuarial model updates and refinements. Alternative investments investment income based on management’s long-term expected return of approximately 10% was $165 million. $133 $165 131 March 31, 2024 Adjusted net earnings of $108 million for the three months ended March 31, 2024 included $100 million of investment income from alternative investments and $6 million income of CLO redemption gains and bond prepay income. Alternative investments investment income based on management’s long-term expected return of approximately 10% was $152 million. $106 $152 130 December 31, 2023 Adjusted net earnings of $75 million for the three months ended December 31, 2023 included $110 million of investment income from alternative investments, partially offset by $10 million of one-time fixed asset impairment charge and $9 million actuarial industry assumption updates. Alternative investments investment income based on management’s long-term expected return of approximately 10% was $147 million. $91 $147 125 September 30, 2023 Adjusted net earnings of $120 million for the three months ended September 30, 2023 included $114 million of investment income from alternative investments. Alternative investments investment income based on management’s long-term expected return of approximately 10% was $142 million. $114 $142 125 Nine months ended September 30, 2024 Adjusted net earnings of $403 million for the nine months ended September 30, 2024 included $376 million of investment income from alternative investments, $31 million of CLO redemptions and bond prepay income, and $14 million tax valuation allowance, partially offset by $33 million of net expense from actuarial assumption and model updates. Alternative investments investment income based on management’s long-term expected return of approximately 10% was $489 million. $388 $489 131 September 30, 2023 Adjusted net earnings of $260 million for the nine months ended September 30, 2023 included $295 million of investment income from alternative investments and $5 million of bond prepay income, offset by $37 million tax valuation allowance. Alternative investments investment income based on management’s long-term expected return of approximately 10% was $411 million. $263 $411 125 ¹ Refer to Reconciliation of net earnings (loss) to adjusted net earnings attributable to common shareholders on page 17 and Adjusted Net Earnings - Management View on page 5. F&G Annuities & Life, Inc. Financial Supplement - September 30, 2024 6

Adjusted Return on Assets ¹ Annualized year to date September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 Adjusted interest and investment income $ 2,601 $ 2,522 $ 2,380 $ 2,186 $ 2,145 Cost of funds (1,544) (1,504) (1,448) (1,345) (1,281) Product margin 1,057 1,018 932 841 864 Flow reinsurance fee income 77 72 60 58 47 Owned distribution margin 45 44 52 11 11 Expenses (operating, interest and taxes) (625) (622) (596) (575) (575) Adjusted net earnings $ 554 $ 512 $ 448 $ 335 $ 347 Less: Preferred stock dividend 17 18 16 — — Adjusted net earnings attributable to common shareholders (A) $ 537 $ 494 $ 432 $ 335 $ 347 AAUM YTD (B) 50,970 50,181 49,400 46,044 45,357 September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 Adjusted interest and investment income 5.10 % 5.03 % 4.82 % 4.75 % 4.73 % Cost of funds (3.03) % (3.00) % (2.93) % (2.92) % (2.82) % Product margin 2.07 % 2.03 % 1.89 % 1.83 % 1.91 % Flow reinsurance fee income 0.15 % 0.14 % 0.12 % 0.13 % 0.10 % Owned distribution margin 0.09 % 0.09 % 0.10 % 0.02 % 0.02 % Expenses (operating, interest and taxes) (1.23) % (1.24) % (1.21) % (1.25) % (1.27) % Adjusted return on assets 1.08 % 1.02 % 0.90 % 0.73 % 0.76 % Less: Preferred stock dividend 0.03 % 0.04 % 0.03 % — % — % Adjusted return on assets attributable to common shareholders (A/B) 1.05 % 0.98 % 0.87 % 0.73 % 0.76 % ¹ Refer to "Non-GAAP Reconciliations" and "Non-GAAP Measures Definitions" in the additional information section. F&G Annuities & Life, Inc. Financial Supplement - September 30, 2024 7

Assets Under Management Rollforward and Average Assets Under Management ¹ Three months ended Nine months ended September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 September 30, 2024 September 30, 2023 AUM at beginning of period $ 52,208 $ 49,787 $ 49,103 $ 47,103 $ 46,004 $ 49,103 $ 43,568 Net new business asset flows 1,726 3,057 2,116 3,165 1,710 6,899 5,939 Net flow reinsurance to third parties (1,248) (930) (1,407) (1,352) (530) (3,585) (2,609) Net capital transaction proceeds (disbursements) (222) 294 (25) 187 (81) 47 205 AUM at end of period $ 52,464 $ 52,208 $ 49,787 $ 49,103 $ 47,103 $ 52,464 $ 47,103 AAUM YTD $ 50,970 $ 50,181 $ 49,400 $ 46,044 $ 45,357 $ 50,970 $ 45,357 AUM before flow reinsurance $ 62,875 $ 61,370 $ 58,020 $ 55,928 $ 52,577 $ 62,875 $ 52,577 Interest and Investment Income and Yield ¹ Three months ended Nine months ended September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 September 30, 2024 September 30, 2023 Adjusted interest and investment income ² $ 690 $ 666 $ 595 $ 577 $ 573 $ 1,951 $ 1,609 AAUM QTD 52,661 50,864 49,400 48,028 46,463 50,970 45,357 Yield on AAUM 5.24 % 5.24 % 4.82 % 4.80 % 4.93 % 5.10 % 4.73 % Less: Alternatives investment income (including short term mark-to- market) ³ 150 167 112 124 129 429 328 Less: Variable investment income ⁴ 26 6 8 — — 40 6 Fixed income and other net investment income ² ⁵ $ 514 $ 493 $ 475 $ 453 $ 444 $ 1,482 $ 1,275 AAUM QTD, excluding alternative investments 44,100 42,509 41,670 40,634 39,356 42,789 38,537 Yield on AAUM, excluding alternative investments and variable investment income 4.66 % 4.64 % 4.56 % 4.46 % 4.51 % 4.62 % 4.41 % ¹ Refer to "Non-GAAP Reconciliations" and "Non-GAAP Measures Definitions" in the additional information section. ² Reflects interest and investment income on an adjusted net earnings basis. ³ Comprised of alternative investment income, which includes mark-to-market movement that is reflected in adjusted net earnings, from limited partnerships and limited liability corporations classified as investments in unconsolidated affiliates and non-direct lending and direct lending securitizations classified as fixed maturity securities. ⁴ Includes significant, non-recurring interest and investment income items, which could include call and tender income, commercial loan obligation redemption gains and other miscellaneous investment income. ⁵ Includes interest and investment income from fixed maturity securities (excluding certain asset backed securities considered alternative investments), mortgage loans, equity securities, short-term investments, and long-term investments. F&G Annuities & Life, Inc. Financial Supplement - September 30, 2024 8

Consolidated Balance Sheets (GAAP) Assets September 30, 2024 ¹ June 30, 2024 ¹ March 31, 2024 ¹ December 31, 2023 September 30, 2023 Investments Fixed maturity securities available for sale, at fair value, (amortized cost of $49,026), net of allowance for credit losses of $62 at September 30, 2024 $ 46,909 $ 43,826 $ 42,631 $ 40,419 $ 36,871 Preferred securities, at fair value 289 332 381 469 605 Equity securities, at fair value 146 147 138 137 116 Derivative investments 1,401 1,032 1,024 797 420 Mortgage loans, net of allowance for credit losses of $69 at September 30, 2024 5,626 5,439 5,440 5,336 5,174 Investments in unconsolidated affiliates (certain investments at fair value of $272 at September 30, 2024) 3,666 3,705 3,367 3,071 2,920 Other long-term investments 675 660 634 608 594 Short-term investments 681 421 263 1,452 168 Total investments $ 59,393 $ 55,562 $ 53,878 $ 52,289 $ 46,868 Cash and cash equivalents 3,539 3,526 2,372 1,563 1,742 Reinsurance recoverable, net of allowance for credit losses of $21 at September 30, 2024 12,404 11,031 10,112 8,960 7,462 Goodwill 2,179 2,017 2,017 1,749 1,749 Prepaid expenses and other assets 942 983 980 931 1,076 Other intangible assets, net 5,349 4,952 4,612 4,207 4,005 Market risk benefits asset 134 103 95 88 118 Income taxes receivable 2 11 23 27 27 Deferred tax asset, net 181 327 345 388 576 Total assets $ 84,123 $ 78,512 $ 74,434 $ 70,202 $ 63,623 Liabilities and Equity Contractholder funds $ 55,468 $ 53,602 $ 50,875 $ 48,798 $ 46,011 Future policy benefits 8,268 7,636 7,441 7,050 5,823 Market risk benefits liability 603 459 425 403 278 Accounts payable and accrued liabilities 3,291 2,328 2,237 2,011 1,452 Notes payable 2,038 2,038 1,748 1,754 1,569 Funds withheld for reinsurance liabilities 9,980 8,661 8,025 7,083 6,118 Total liabilities $ 79,648 $ 74,724 $ 70,751 $ 67,099 $ 61,251 Equity Preferred stock $0.001 par value; authorized 25,000,000 shares as of September 30, 2024; outstanding and issued shares of 5,000,000 as of September 30, 2024 — — — — — Common stock $0.001 par value; authorized 500,000,000 shares as of September 30, 2024; outstanding and issued shares of 126,094,481 and 127,123,308 as of September 30, 2024, respectively — — — — — Additional paid-in-capital 3,456 3,449 3,442 3,185 3,178 Retained earnings 2,145 2,182 2,011 1,926 2,252 Accumulated other comprehensive income (loss) ("AOCI") (1,231) (1,953) (1,883) (1,990) (3,040) Treasury stock, at cost (1,028,827 shares as of September 30, 2024) (24) (24) (24) (18) (18) Total F&G Annuities & Life, Inc. shareholders' equity $ 4,346 $ 3,654 $ 3,546 $ 3,103 $ 2,372 Non-controlling interests 129 134 137 — — Total equity $ 4,475 $ 3,788 $ 3,683 $ 3,103 $ 2,372 Total liabilities and equity $ 84,123 $ 78,512 $ — $ 74,434 $ 70,202 $ 63,623 ¹ Reflects majority stake in owned distribution starting in January 2024. F&G Annuities & Life, Inc. Financial Supplement - September 30, 2024 9

Capitalization ¹ Three months ended September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 Notes payable $ 2,038 $ 2,038 $ 1,748 $ 1,754 $ 1,569 Net issuance costs (premium) 22 22 12 6 (4) Notes payable (aggregate principal amount) (A) $ 2,060 $ 2,060 $ 1,760 $ 1,760 $ 1,565 Total equity 4,475 3,788 3,683 3,103 2,372 Less: AOCI (1,231) (1,953) (1,883) (1,990) (3,040) Total equity, excluding AOCI $ 5,706 $ 5,741 $ 5,566 $ 5,093 $ 5,412 Total Capitalization, excluding AOCI (B) $ 7,766 $ 7,801 $ 7,326 $ 6,853 $ 6,977 Debt-to-Capitalization, excluding AOCI (A/B) 26.5 % 26.4 % 24.0 % 25.7 % 22.4 % Return on Equity Attributable to Common Shareholders ¹ Twelve months ended September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 Net earnings (loss) attributable to common shareholders - rolling four quarters (C) $ — $ 316 $ 248 $ (58) $ 65 Adjusted net earnings attributable to common shareholders - rolling four quarters (D) 478 442 382 335 390 Average F&G equity attributable to common shareholders - 5 point average (E) 3,254 2,939 2,755 2,577 2,435 Less: Average AOCI - 5 point average (2,020) (2,295) (2,414) (2,601) (2,808) Average F&G equity attributable to common shareholders, excluding AOCI - 5 point average (F) $ 5,274 $ 5,234 $ 5,169 $ 5,178 $ 5,243 Return on average common shareholder equity (C/E) — % 10.8 % 9.0 % (2.3) % 2.7 % Adjusted return on average common shareholder equity, excluding AOCI (D/F) 9.1 % 8.4 % 7.4 % 6.5 % 7.4 % ¹ Refer to "Non-GAAP Reconciliations" and "Non-GAAP Measures Definitions" in the additional information section. F&G Annuities & Life, Inc. Financial Supplement - September 30, 2024 10

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会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。

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