Equitable Holdings, Inc. (NYSE:EQH) Q4 2022 Earnings Conference Call February 9, 2023 8:00 AM ET Company Participants Isil Muderrisoglu – Head-Investor Relations Mark Pearson – President and Chief Executive Officer Robin Raju – Chief Financial Officer Nick Lane – President-Equitable Financial Kate Burke – Chief Operating Officer and Chief Financial Officer-AllianceBernstein Corporation Conference Call Participants Ryan Krueger – KBW Tom Gallagher – Evercore ISI Jimmy Buller – JPMorgan Securities Michael Wa ...

Equitable Holdings, Inc. (NYSE:EQH) Q3 2022 Earnings Conference Call November 3, 2022 8:00 AM ET Company Participants Isil Muderrisoglu – Head of IR Mark Pearson - President and CEO Nick Lane – President, Equitable Robin Raju – Chief Financial Officer Kate Burke - COO and CFO, AllianceBernstein Corporation Conference Call Participants Elyse Greenspan - Wells Fargo Jamminder Singh Bhullar - J.P. Morgan Ryan Krueger - Keefe, Bruyette, & Woods Nigel Dally - Morgan Stanley Alexander Scott - Goldman Sachs Tracy ...

| --- | --- | |---------------------------------------------------------|-------| | | | | | | | Equitable Holdings Third Quarter 2022 Earnings Results | | | November 3, 2022 | | Note Regarding Forward-Looking and Non-GAAP Financial Measures This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "believes," "anticipates," "intends," "seeks," "aims," "plans," "assumes," "estimates," "projects," "should," "would ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ——————————————— FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-38469 ———————————————— Equitable Holdings, Inc. (Exact name of registrant as specified in its charter) D ...

Financial Data and Key Metrics Changes - Non-GAAP operating earnings for Q2 2022 were $526 million or $1.31 per share, a 4% decrease from Q1 2022, primarily due to lower fees from reduced account values and assets under management [10] - GAAP net income for the quarter was reported at $1.7 billion, driven by non-economic accounting treatment of GAAP liabilities [19] - Assets under management (AUM) at the end of the quarter were $754 billion, reflecting a 13% decrease year-over-year due to market movements, although positive net flows from retirement and wealth management businesses partially offset this decline [20] Business Line Data and Key Metrics Changes - The Individual Retirement segment achieved record sales, contributing to net inflows of $1.3 billion in core Retirement products, a 52% increase, marking the highest since the IPO [14] - AllianceBernstein (AB) reported modest net outflows but saw positive flows of $1.3 billion within the institutional business, with a 2% fee rate improvement year-over-year [15] - The company completed the acquisition of CarVal Investors, which raised an additional $2 billion in assets under management since the announcement [16] Market Data and Key Metrics Changes - The S&P 500 index fell more than 20% in the first half of 2022, impacting both equity and bond values significantly [12] - Despite market challenges, the company maintained a strong RBC ratio of 440% at quarter-end, indicating robust capital management [28] Company Strategy and Development Direction - The company focuses on maximizing economic value to generate distributable cash flows, reaffirming a cash flow guidance of $1.6 billion for the year [30] - Economic reserving and fair value hedging programs are highlighted as unique strategies that protect the balance sheet and ensure consistent cash returns to shareholders [30] - The company aims to mitigate the remaining $1 billion of redundant reserves associated with Regulation 213 by year-end [29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate challenging market conditions, emphasizing the effectiveness of their hedging program [40] - The company remains focused on executing its capital return objectives while being mindful of potential headwinds impacting fee-based earnings [20] - Management noted that the favorable mortality experience was linked to a significant decline in U.S. COVID deaths, which positively impacted their results [46] Other Important Information - The company returned $295 million of capital in the quarter, including $220 million in share repurchases, maintaining a consistent payout ratio of 50% to 60% [28] - The company has achieved $141 million of the $180 million target for general account rebalancing, with expectations to complete this ahead of schedule [20] Q&A Session Summary Question: RBC ending at 440% and capital generation - Management explained that the robust RBC ratio reflects the effectiveness of the economic hedging program, which protected statutory capital against adverse market movements [33] Question: Parameters around $2 billion higher reserve for Reg. 213 - Management confirmed that they are on track to resolve the remaining $1 billion redundant reserves by year-end and do not foresee additional reserve increases under current market conditions [34][35] Question: General account repositioning and NII upside - Management indicated that they have achieved $141 million of the targeted $180 million in NII upside and expect to finish ahead of schedule due to higher rates and spreads [37] Question: M&A thoughts post-CarVal deal - Management stated that while they are open to inorganic growth opportunities, their strategy does not depend on acquisitions, focusing instead on organic growth [44][45] Question: Favorable mortality and COVID impact - Management noted that favorable mortality was primarily due to a decline in U.S. COVID deaths, with ongoing monitoring of trends [46][68] Question: Cash flow guidance and market impacts - Management reiterated that the $1.6 billion cash flow guidance remains unchanged despite market challenges, attributing this to strong upstreaming from the retirement company [49] Question: Buybacks and capital return strategy - Management confirmed their commitment to maintaining buybacks at a consistent pace, supported by a strong cash flow and effective hedging strategies [52]

| --- | --- | |----------------------------------------------------------|-------| | | | | | | | Equitable Holdings Second Quarter 2022 Earnings Results | | | August 4, 2022 | | Note Regarding Forward-Looking and Non-GAAP Financial Measures This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "believes," "anticipates," "intends," "seeks," "aims," "plans," "assumes," "estimates," "projects," "should," "would ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ——————————————— FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-38469 ———————————————— Equitable Holdings, Inc. (Exact name of registrant as specified in its charter) Delawa ...

| --- | --- | |---------------------------------------------------------|-------| | | | | | | | Equitable Holdings First Quarter 2022 Earnings Results | | | May 10, 2022 | | Note Regarding Forward-Looking and Non-GAAP Financial Measures This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "believes," "anticipates," "intends," "seeks," "aims," "plans," "assumes," "estimates," "projects," "should," "would," " ...

Equitable Holdings Inc. (NYSE:EQH) Q1 2022 Results Conference Call May 10, 2022 9:00 AM ET Company Participants Isil Muderrisoglu - Head, IR Mark Pearson - President and CEO Robin Raju - CFO Nick Lane - President, Equitable Financial Bill Siemers - Interim CFO, Controller and Chief Accounting Officer, AllianceBernstein Conference Call Participants Ryan Krueger - KBW Tom Gallagher - Evercore ISI Andrew Kligerman - Credit Suisse Nigel Dally - Morgan Stanley Suneet Kamath - Jefferies Tracy Benguigui - Barclays ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ——————————————— FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-38469 ———————————————— Equitable Holdings, Inc. (Exact name of registrant as specified in its charter) Delaw ...