MetLife, Inc. (NYSE:MET) Q1 2023 Earnings Conference Call May 4, 2023 9:00 AM ET Company Participants John Hall - Head of IR Michel Khalaf - President & CEO John McCallion - EVP & CFO Steven Goulart - EVP & Chief Investment Officer Eric Clurfain - Regional President, Latin America Ramy Tadros - President, U.S. Business Lyndon Oliver - Regional President, Asia Conference Call Participants Tom Gallagher - Evercore Erik Bass - Autonomous Research Tracy Benguigui - Barclays Ryan Krueger - KBW John Barnidge - Pi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2023 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: 001-15787 _____________________________________ MetLife, Inc. (Exact name of registrant as s ...

Market Position and Business Strategy - MetLife holds leading market positions in the U.S., Japan, Latin America, Asia, Europe, and the Middle East, and is one of the largest institutional investors in the U.S. with a general account portfolio primarily invested in fixed income securities and mortgage loans[13]. - The company aims to generate strong free cash flow by deploying capital to high-value opportunities, simplify its business for operational efficiency, and differentiate through brand, scale, talent, and innovation[14]. - MetLife's diversified business model and financial strength are expected to drive future growth and mitigate risks associated with economic uncertainties[13]. - The company emphasizes the importance of operational efficiency and customer experience in its strategy to enhance shareholder value[14]. Product Offerings - MetLife's U.S. segment offers a broad range of protection products, including life, dental, disability, and accident & health insurance, with a focus on voluntary products to enhance sales[16]. - The Group Benefits business has established a leading position in the U.S. group insurance market, emphasizing relationships with large corporate employers and expanding product offerings[17]. - Retirement and Income Solutions (RIS) provides funding and financing solutions to institutional customers, helping them manage liabilities associated with employee benefit programs[20]. - Major products in Asia include whole and term life, endowments, universal and variable life, as well as group life products[31]. - Major products in EMEA include traditional and non-traditional life insurance, personal accident, and supplemental health products[37]. Regulatory Environment - Regulatory approval is generally required for rates on individual life insurance products, which are highly regulated and renewed annually[47]. - The regulatory environment is expected to continue to increase in scope and oversight, which could materially harm the company's results of operations[51]. - The NAIC's updated model acts and regulations focus on capital requirements, corporate governance, risk management, and liquidity stress testing, impacting MetLife's financial regulation[62]. - The New York Department of Financial Services (NYDFS) is prioritizing diversity in corporate governance for insurers, collecting data from companies like MetLife to measure progress in leadership diversity[72]. Financial Performance and Risks - Net income available to common shareholders decreased by $4.0 billion, primarily due to an unfavorable change in net investment gains of $2.8 billion and a decrease in adjusted earnings available to common shareholders by $2.4 billion[200]. - The company faces various economic risks, including interest rate fluctuations, which may impact revenue growth and investment opportunities[118]. - Interest rate risks could reduce investment spreads and net income, particularly during periods of rapidly increasing rates[120]. - The company may experience increased defaults, downgrades, and volatility in its investment portfolio due to economic downturns or public health issues[148]. Environmental and Social Governance - The company announced a goal to achieve net zero greenhouse gas emissions for its global operations and investment portfolio by 2050 or sooner[143]. - The New York Department of Financial Services (NYDFS) expects insurers to integrate climate-related financial risks into governance and risk management processes[91]. - The SEC proposed rules requiring additional climate-related disclosures in financial statements, impacting how the company reports its risks[92]. Workforce and Diversity - The company had approximately 45,000 employees as of December 31, 2022, emphasizing talent attraction, retention, and holistic well-being[105]. - The company aims for top-quartile performance in workforce diversity, with women representing 25% of the Executive Leadership Team and 20% of the Board of Directors[107]. - The company has committed $5 million over three years to advance racial equity in the U.S., alongside other diversity and inclusion initiatives[107]. Investment and Capital Management - The company expects to maintain a two-year average annual ratio of free cash flow to adjusted earnings at 65% to 75%[207]. - The investment portfolio is highly diversified and positioned to perform well in various economic scenarios[205]. - The company has implemented targeted improvements to the accounting for long-duration contracts (LDTI)[204]. Challenges and Uncertainties - The company may face challenges in paying dividends or repurchasing stock due to legal and regulatory restrictions, cash buffer needs, and market conditions[144]. - The cessation of U.S. Dollar LIBOR settings is scheduled for June 30, 2023, with the transition to alternative reference rates being actively monitored and managed by the company[99]. - The company may struggle to find adequate reinsurance, which could increase its risk exposure and affect future business writing capabilities[136].

Financial Performance - MetLife's adjusted earnings were $1.226 billion in 4Q22[3], and $5.434 billion for the full year 2022, excluding total notable items[3] - MetLife's share repurchases amounted to $0.6 billion in 4Q22 and $3.3 billion for the full year 2022[16] - The company expects total U S Statutory Adjusted Capital of $18.3 billion as of December 31, 2022, a 3% decrease from September 30, 2022[16] Segment Results (Adjusted Earnings ex Total Notable Items) - Group Benefits generated $400 million in 4Q22, a significant increase compared to $20 million in 4Q21[5] - Retirement and Income Solutions contributed $371 million in 4Q22[5] - U S segment earned $771 million in 4Q22, a 20% increase from $640 million in 4Q21[5] - Asia generated $215 million in 4Q22, a 62% decrease from $586 million in 4Q21[5] - Latin America reported $181 million in 4Q22, a 45% increase from $125 million in 4Q21[5] - EMEA earned $70 million in 4Q22, a 67% increase from $42 million in 4Q21[5] - MetLife Holdings contributed $208 million in 4Q22, a 57% decrease from $482 million in 4Q21[5] - Corporate & Other reported a loss of $219 million in 4Q22, compared to a loss of $177 million in 4Q21[5] Outlook and Targets - MetLife targets an adjusted return on equity of 13-15%[20] - The company aims for a free cash flow ratio of 65-75% of adjusted earnings[20] - MetLife targets a direct expense ratio of 12.6%[20] - The company anticipates variable investment income of approximately $2.0 billion for 2023[21] - MetLife expects a corporate & other adjusted loss of $650 – $750 million for 2023[21]

Financial Data and Key Metrics Changes - In Q4 2022, adjusted earnings were $1.2 billion or $1.55 per share, down 28% year-over-year from $1.8 billion or $2.17 per share [8][17] - For the full year 2022, adjusted return on equity was 12.3%, meeting the target, and the target range has been increased to 13% to 15% [6][7] - Free cash flow generation for 2022 was strong, enabling a return of $4.9 billion to shareholders [6][12] Business Line Data and Key Metrics Changes - U.S. Group Benefits adjusted earnings were $400 million in Q4 2022, significantly up from $20 million in Q4 2021, driven by improved underwriting margins and lower COVID claims [17] - Retirement and Income Solutions (RIS) adjusted earnings were down 40% year-over-year, primarily due to lower variable investment income [19] - Asia segment adjusted earnings decreased by 63% year-over-year, impacted by lower variable investment income and a write-down of a deferred tax asset [20][21] - Latin America adjusted earnings increased by 45%, driven by favorable underwriting and solid volume growth [22] Market Data and Key Metrics Changes - Group Benefits PFOs grew approximately 5% year-over-year, bringing full year PFOs to about $23 billion [9] - Asia sales grew 11% year-over-year, exceeding guidance, while Latin America sales were up 22% on a constant currency basis [11][22] - EMEA adjusted earnings were up 67%, reflecting favorable underwriting compared to elevated COVID claims in the prior year [23] Company Strategy and Development Direction - The Next Horizon strategy has proven resilient, with commitments to generate $20 billion in free cash flow over five years, expected to be exceeded [5][7] - The company is focused on responsible growth and capital deployment, with a commitment to return excess capital to shareholders [12][62] - Investments in digital transformation and product diversification are expected to drive future growth [68] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges from rising inflation and a potential recession but expressed confidence in the company's resilience and growth prospects [5][31] - The outlook for 2023 includes expectations for interest rates to rise and continued uncertainty around inflation [31][32] - The company anticipates maintaining a free cash flow ratio of 65% to 75% of adjusted earnings [32] Other Important Information - The effective tax rate on adjusted earnings was approximately 19% for Q4 2022, influenced by favorable tax benefits [24] - The company has a strong capital position, with cash and liquid assets at holding companies totaling $5.4 billion [27][28] Q&A Session Summary Question: Impact of layoffs on group business and PFO growth outlook - Management noted no current impact from layoffs, citing a tight labor market and strong sales momentum [41][42][44] Question: Resilience of MetLife Holdings earnings despite PFO decline - Management explained that earnings resilience is due to LDTI accounting changes and optimization efforts [47][48] Question: Update on VA risk transfer deals - Management stated no change in strategy regarding VA risk transfer deals, focusing on internal optimization [51][52] Question: Mortality experience compared to pre-pandemic levels - Management indicated a shift to an endemic environment with reduced COVID-related mortality impacts [54] Question: RIS spread outlook beyond 2023 - Management discussed the contribution of interest rate caps and the expectation for healthy spreads in 2023 [57][58] Question: Capital deployment strategy amid recession risks - Management confirmed no change in capital deployment philosophy, emphasizing support for organic growth and shareholder returns [60][62] Question: LatAm growth influenced by macro environment - Management highlighted strong franchise strength and low insurance penetration as key growth drivers in Latin America [66][68]

MetLife, Inc. (NYSE:MET) Q3 2022 Earnings Conference Call November 3, 2022 9:00 AM ET Company Participants John Hall - Head of Investor Relations Michel Khalaf - President & Chief Executive Officer John McCallion - Executive Vice President & Chief Financial Officer Steven Goulart - Executive Vice President & Chief Investment Officer Ramy Tadros - President, U.S. Business Eric Clurfain - Regional President, Latin America Conference Call Participants Jimmy Bhullar - JPMorgan Ryan Krueger - KBW Tom Gallagher - ...

MetLife, Inc. (NYSE:MET) Q2 2022 Earnings Conference Call August 4, 2022 9:00 AM ET Company Participants John McCallion - EVP & CFO Michel Khalaf - CEO, President & Director Steven Goulart - EVP & CIO Ramy Tadros - President, U.S. Business John Hall - SVP & Head, IR Eric Clurfain - Regional President, Latin America Conference Call Participants Ryan Krueger - KBW Thomas Gallagher - Evercore ISI Jamminder Bhullar - JPMorgan Chase & Co. Elyse Greenspan - Wells Fargo Securities Suneet Kamath - Jefferies Alexand ...

[Part I — Financial Information](index=3&type=section&id=Part%20I%20%E2%80%94%20Financial%20Information) This section presents the company's unaudited interim financial statements and management's detailed analysis of financial condition and operational results [Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited interim consolidated financial statements, highlighting significant declines in assets, equity, and net income due to investment losses, while operating cash flow remained strong [Interim Condensed Consolidated Balance Sheets](index=7&type=section&id=Interim%20Condensed%20Consolidated%20Balance%20Sheets) Total assets and liabilities decreased, leading to a sharp decline in total equity, primarily due to a significant drop in the fair value of fixed maturity securities Consolidated Balance Sheet Highlights (in millions USD) | Balance Sheet Item | June 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Total Assets** | **$662,893** | **$759,708** | | Total Investments | $436,025 | $494,821 | | **Total Liabilities** | **$625,526** | **$691,959** | | Future policy benefits | $193,474 | $199,721 | | Policyholder account balances | $200,580 | $203,473 | | **Total Equity** | **$37,367** | **$67,749** | | Accumulated other comprehensive income (loss) | $(17,372) | $10,919 | [Interim Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)](index=8&type=section&id=Interim%20Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Income%20(Loss)) Net income available to common shareholders significantly declined in Q2 2022 and for the six-month period, primarily due to substantial net investment and derivative losses Statement of Operations Highlights (in millions USD, except per share data) | Metric | Q2 2022 | Q2 2021 | Six Months 2022 | Six Months 2021 | | :--- | :--- | :--- | :--- | :--- | | Total Revenues | $15,556 | $18,524 | $31,312 | $34,086 | | Net investment gains (losses) | $(685) | $1,605 | $(1,203) | $1,739 | | Net derivative gains (losses) | $(1,195) | $421 | $(2,054) | $(1,814) | | **Net income (loss) available to common shareholders** | **$103** | **$3,366** | **$709** | **$3,656** | | **Diluted EPS** | **$0.13** | **$3.83** | **$0.86** | **$4.13** | [Interim Condensed Consolidated Statements of Equity](index=9&type=section&id=Interim%20Condensed%20Consolidated%20Statements%20of%20Equity) Total equity significantly decreased due to substantial negative changes in other comprehensive income from unrealized investment losses, despite partial offsets from net income Changes in Equity for the Six Months Ended June 30, 2022 (in millions USD) | Item | Amount | | :--- | :--- | | Balance at Dec 31, 2021 | $67,749 | | Net Income | $674 | | Other comprehensive loss, net of tax | $(12,833) | | Treasury stock acquired | $(2,031) | | Dividends on common stock | $(805) | | **Balance at June 30, 2022** | **$37,367** | [Interim Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Interim%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow significantly increased, while investing activities generated a net inflow, and financing activities resulted in a substantial net cash use, leading to an overall increase in cash Cash Flow Summary for the Six Months Ended June 30 (in millions USD) | Cash Flow Activity | 2022 | 2021 | | :--- | :--- | :--- | | Net cash provided by operating activities | $6,392 | $3,750 | | Net cash provided by (used in) investing activities | $1,689 | $(45) | | Net cash provided by (used in) financing activities | $(7,182) | $1,068 | | **Change in cash and cash equivalents** | **$432** | **$4,581** | [Notes to the Interim Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20the%20Interim%20Condensed%20Consolidated%20Financial%20Statements) These notes detail the company's segment structure, accounting policies, investment portfolio, derivative strategies, and the significant projected impact of ASU 2018-12 on total equity - MetLife is organized into five segments: U.S.; Asia; Latin America; EMEA; and MetLife Holdings[29](index=29&type=chunk) - The upcoming adoption of ASU 2018-12 on January 1, 2023, is expected to have a material impact, with an estimated decrease to total equity in a range of approximately **$21.5 billion to $24.0 billion**, net of income tax, as of the January 1, 2021 transition date[41](index=41&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=82&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the significant decline in net income and adjusted earnings due to market volatility and lower investment yields, partially offset by favorable underwriting, while maintaining strong liquidity and capital return [Executive Summary](index=83&type=section&id=Executive%20Summary) Q2 2022 performance saw a significant decrease in net income and adjusted earnings due to unfavorable investment and derivative results, partially offset by favorable underwriting and revenue growth - Net income available to common shareholders decreased by **$3.3 billion** compared to Q2 2021, primarily due to an unfavorable change in net investment gains (losses) of **$2.3 billion** and an unfavorable change in net derivative gains (losses) of **$1.6 billion**[350](index=350&type=chunk) - Adjusted earnings available to common shareholders decreased by **$463 million**, mainly due to lower investment yields from private equity and hedge funds, partially offset by favorable underwriting from a decline in COVID-19 claims[350](index=350&type=chunk) - Adjusted premiums, fees and other revenues grew, driven by the U.S. segment, particularly the Retirement and Income Solutions (RIS) business[344](index=344&type=chunk) [Industry Trends](index=86&type=section&id=Industry%20Trends) The company monitors global economic conditions, including inflation and geopolitical conflicts, central bank monetary policies, and increasing regulatory focus on climate-related financial risks - The company is monitoring global inflation, supply chain disruptions, and the Russia-Ukraine conflict as key factors contributing to market volatility[354](index=354&type=chunk) - Central banks in the U.S. and Europe are raising interest rates to combat inflation, while the Bank of Japan has maintained its accommodative monetary policy[355](index=355&type=chunk) - The SEC has proposed rules requiring additional climate-related disclosures in registrant filings, and federal legislation has been enacted to address the transition from LIBOR[360](index=360&type=chunk)[362](index=362&type=chunk) [Acquisitions and Dispositions](index=89&type=section&id=Acquisitions%20and%20Dispositions) The company increased its stake in PNB MetLife India and completed the dispositions of its wholly-owned subsidiaries in Poland and Greece during the first half of 2022 - In February 2022, the Company acquired an additional **15.0%** ownership in PNB MetLife India Insurance Company Limited, increasing its total stake to approximately **47.0%**[366](index=366&type=chunk) - The Company completed the dispositions of its wholly-owned subsidiaries in Poland and Greece during the first half of 2022[367](index=367&type=chunk) [Results of Operations](index=91&type=section&id=Results%20of%20Operations) Consolidated net income and adjusted earnings declined due to market volatility and lower investment yields, with varied segment performance including growth in Latin America and declines in U.S., Asia, and MetLife Holdings Adjusted Earnings Available to Common Shareholders by Segment (in millions USD) | Segment | Q2 2022 | Q2 2021 | | :--- | :--- | :--- | | U.S. | $788 | $902 | | Asia | $386 | $520 | | Latin America | $267 | $97 | | EMEA | $64 | $94 | | MetLife Holdings | $364 | $536 | | Corporate & Other | $(243) | $(60) | | **Total** | **$1,626** | **$2,089** | - The unfavorable change in net derivative gains (losses) on non-VA program derivatives was **$1.5 billion**, primarily due to rising long-term interest rates impacting receive fixed interest rate swaps[374](index=374&type=chunk) - The unfavorable change in net investment gains (losses) of **$2.3 billion** primarily reflects a prior period gain on the disposition of MetLife P&C and current period losses on sales of fixed maturity securities[377](index=377&type=chunk) [Investments](index=114&type=section&id=Investments) The investment portfolio, primarily fixed income, saw a decrease in adjusted net investment income and yield, though it remains high quality with 95.0% investment-grade fixed maturity securities and strong commercial mortgage loan metrics Adjusted Net Investment Income and Yield (in millions USD) | Period | Adjusted Net Investment Income (millions) | Yield % | | :--- | :--- | :--- | | Q2 2022 | $4,504 | 4.17% | | Q2 2021 | $5,117 | 4.73% | | H1 2022 | $9,496 | 4.38% | | H1 2021 | $10,411 | 4.82% | - At June 30, 2022, **95.0%** of the fixed maturity securities AFS portfolio was rated investment grade, with an estimated fair value of **$269.9 billion**[457](index=457&type=chunk) - The commercial mortgage loan portfolio had an average LTV ratio of **56%** and an average DSCR of **2.6x** as of June 30, 2022, indicating a high-quality, lower-risk profile[478](index=478&type=chunk) [Derivatives](index=127&type=section&id=Derivatives) The company uses derivatives to manage various market risks, with a significant portion not designated as accounting hedges, and employs credit default swaps for risk mitigation and synthetic bond creation - The company uses derivatives to manage interest rate, foreign currency, credit, and equity market risks, with a total gross notional amount of **$321.1 billion** at June 30, 2022[486](index=486&type=chunk)[182](index=182&type=chunk) - Written credit default swaps are used in replication transactions to synthetically create corporate bond exposures, providing flexibility in managing credit risk[495](index=495&type=chunk) - For the six months ended June 30, 2022, net losses on written credit default swaps were **$245 million**, while net gains on purchased credit default swaps were **$92 million**, reflecting widening credit spreads[494](index=494&type=chunk)[495](index=495&type=chunk) [Policyholder Liabilities](index=130&type=section&id=Policyholder%20Liabilities) The company establishes actuarially determined policyholder liabilities, sensitive to market conditions, with a significant portion related to variable annuity guarantees, managed through product design, hedging, and reinsurance Variable Annuity Guarantee Liabilities (in millions USD) | Liability Category | June 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | | Future Policy Benefits | $1,861 | $1,822 | | Policyholder Account Balances | $414 | $499 | - As of June 30, 2022, only **40%** of contracts with GMIBs were eligible for annuitization, with the remainder becoming eligible in an average of three years[527](index=527&type=chunk) - The net amount at risk for GMIBs was **$569 million** at June 30, 2022, with only a small fraction of the total account value being significantly 'in-the-money'[527](index=527&type=chunk)[528](index=528&type=chunk) [Liquidity and Capital Resources](index=137&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a strong liquidity position with substantial liquid assets and access to funding, utilizing operating cash flows and subsidiary dividends to support debt service, shareholder returns, and share repurchases - The company maintained a short-term liquidity position of **$12.6 billion** and total liquid assets of **$179.3 billion** as of June 30, 2022[534](index=534&type=chunk)[535](index=535&type=chunk) - MetLife, Inc. and other holding companies held **$4.5 billion** in liquid assets at June 30, 2022[569](index=569&type=chunk) Capital Uses - H1 2022 (in millions USD) | Use of Capital | Amount | | :--- | :--- | | Common Stock Repurchases | $2,056 | | Dividends on Common Stock | $805 | | Dividends on Preferred Stock | $92 | - For the six months ended June 30, 2022, MetLife, Inc. received **$1.56 billion** in dividends from Metropolitan Life Insurance Company and **$620 million** from American Life Insurance Company[572](index=572&type=chunk)[573](index=573&type=chunk)[294](index=294&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=149&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company analyzes and manages its exposure to interest rate, equity, and foreign currency risks through various strategies, with no material changes reported from the prior annual report - The company is materially exposed to changes in interest rates, foreign currency exchange rates, and equity markets through its insurance and investment activities[591](index=591&type=chunk) - A variety of strategies, including the use of derivatives, are employed to manage these market risks[591](index=591&type=chunk) [Controls and Procedures](index=150&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2022, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of June 30, 2022[593](index=593&type=chunk) - No material changes were made to the company's internal control over financial reporting during the second quarter of 2022[593](index=593&type=chunk) [Part II — Other Information](index=151&type=section&id=Part%20II%20%E2%80%94%20Other%20Information) This section provides additional information including legal proceedings, risk factors, equity security sales, and required exhibits [Legal Proceedings](index=151&type=section&id=Item%201.%20Legal%20Proceedings) Details on legal proceedings, including asbestos-related claims and specific lawsuits, are referenced in Note 14 of the financial statements - For details on legal proceedings, the company refers to Note 14 of the financial statements[595](index=595&type=chunk) [Risk Factors](index=151&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the company's previously disclosed risk factors from the 2021 Annual Report on Form 10-K were reported - There have been no material changes to the company's risk factors from those disclosed in the 2021 Annual Report[596](index=596&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=151&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q2 2022, the company repurchased over 17 million common shares and authorized a new **$3.0 billion** share repurchase program, with **$2.5 billion** remaining Issuer Purchases of Equity Securities (Q2 2022) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | April 2022 | 1,652,938 | $70.58 | | May 2022 | 7,035,408 | $63.90 | | June 2022 | 8,629,772 | $63.78 | | **Total** | **17,318,118** | **N/A** | - In May 2022, the Board of Directors authorized a new **$3.0 billion** common stock repurchase program. As of June 30, 2022, **$2.5 billion** remained available under this authorization[597](index=597&type=chunk) [Exhibits](index=152&type=section&id=Item%206.%20Exhibits) This section lists filed exhibits, including CEO and CFO certifications and Inline XBRL documents, noting that agreements are for informational purposes only - Exhibits filed include CEO/CFO certifications (Sections 302 and 906) and Inline XBRL data files[601](index=601&type=chunk)

MetLife, Inc. (NYSE:MET) Q1 2022 Earnings Conference Call May 5, 2022 9:00 AM ET Company Participants John Hall - Global Head, Investor Relations Michel Khalaf - President and CEO John McCallion - Chief Financial Officer Ramy Tadros - Executive Vice President and President, U.S. Business Eric Clurfain - Regional President, Latin America Kishore Ponnavolu - President, Asia Steve Goulart - Executive Vice President and CIO Conference Call Participants Ryan Krueger - KBW Jimmy Bhullar - JPMorgan Elyse Greenspan ...