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 Number: 001-40274 Jackson Financial Inc. (Exact name of registrant as specified in its charter) Delaware 98-0486152 (State or other jurisd ...

Jackson Financial, Inc. (NYSE:JXN) Q1 2022 Earnings Conference Call May 11, 2022 10:00 AM ET Company Participants Liz Werner - Head, Investor Relations Laura Prieskorn - CEO, President & Director Marcia Wadsten - EVP & CFO Paul Myers - Vice Chairman Conference Call Participants Thomas Gallagher - Evercore ISI Suneet Kamath - Jefferies Alexander Scott - Goldman Sachs Group Erik Bass - Autonomous Research Ryan Krueger - KBW Operator Good morning, and thank you for attending today's Jackson Financial First Qua ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Commission File Number: 001-40274 Jackson Financial Inc. (Exact name of registrant as specified in its charter) Delaware 98-0486152 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECUR ...

Financial Data and Key Metrics Changes - In 2021, adjusted operating earnings reached $2.4 billion, exceeding the prior year by over $500 million, with a 22% increase in pretax adjusted operating earnings from the previous year [13][18] - The company ended the year with total adjusted capital of $6.6 billion and an RBC ratio of 580% at Jackson National Life Insurance [15][71] - Fourth quarter adjusted operating earnings were $7.48 per share, reflecting a 30% increase in adjusted pretax operating earnings compared to the previous year's quarter [22][48] Business Line Data and Key Metrics Changes - The retail annuity segment accounted for nearly two-thirds of total growth in pretax adjusted operating earnings, with retail annuity account values reaching $259 billion, up nearly 13% from the prior year [14][25] - Fourth quarter annuity sales were at their highest level for the year at $5 billion, up modestly from the prior year's quarter [26] - Fee-based advisory sales reached a record level of $1.3 billion, up from $1 billion last year, indicating strong growth in this segment [27] Market Data and Key Metrics Changes - The overall annuity sales for the industry in 2021 were at their highest level since 2008, with a 27% increase in traditional variable annuity and RILA sales combined, totaling $125 billion [28][29] - The company entered the defined contribution market with a partnership with AllianceBernstein, indicating potential growth opportunities in this area [30] Company Strategy and Development Direction - The company aims to maintain a balanced approach to capital management while investing in growth and delivering targeted capital returns to shareholders [77] - Jackson Financial is focused on expanding and diversifying its product offerings and distribution channels, maintaining its position as a leader in the retirement income and savings solutions market [76][77] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate various market conditions, emphasizing the stability of their fee income stream that supports hedging budgets [86] - The company anticipates continued sales momentum in 2022, supported by a diverse set of products and an expanding distribution network [27][30] Other Important Information - The company announced an increase in shareholder dividends and share repurchase authorization, targeting a capital return of $425 million to $525 million for the calendar year 2022 [10][18] - The company completed $211 million in share repurchases and paid $50 million in dividends by the end of 2021, maintaining cash and liquidity of over $600 million at the holding company [68][69] Q&A Session Summary Question: Is the $600 million dividend typical going forward? - Management indicated that the $600 million dividend reflects a strong year for the business and may be slightly elevated compared to historical averages [80] Question: What about the remaining $90 million from the dividend? - The remaining $90 million will eventually make its way to the holding company through financing arrangements [82] Question: How does the current macro environment affect RBC calculations? - Management noted that market downturns could lead to increased reserves or capital requirements, but they are well-prepared for such fluctuations [84][85] Question: What is the expected capital return target for 2022? - The capital return target of $425 million to $525 million is based on the business's performance and is viewed as sustainable [88][89] Question: What are the annual hedging costs? - The company collects approximately $2.5 billion in guarantee fees annually, with hedging costs expected to increase in a volatile market environment [92][93] Question: Will the company generate positive RBC capital in a market correction? - Management indicated that they would need to close the books to determine the impact on RBC, but they have a good buffer to absorb market downturns [100][104] Question: What are the qualitative impacts of LDTI? - Management expects an increase in reserves due to the shift to fair value accounting under LDTI, with potential changes in GAAP earnings volatility [108][109]

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 Jackson Financial Inc. For the quarterly period ended September 30, 2021 (Exact name of registrant as specified in its charter) or (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 1 Corporate Way, L ...

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, 2021 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 Number: 001-40274 Jackson Financial Inc. (Exact name of registrant as specified in its charter) Delaware 98-0486152 (State or other j ...