American International Group (AIG) Economic Moat Analysis—

Preuves

AIG provides insurance solutions that help businesses and individuals in over 200 countries and jurisdictions protect their assets and manage risks through AIG operations, licenses and authorizations as well as network partners.

Item 1, Business: multinational operating coverage · Dépôt 12/02/2026

World-Class Underwriting and Claims Expertise executed through franchises that are among the leaders in their geographies and segments, providing differentiated service.

Item 1, Business: issuer expertise claim · Dépôt 12/02/2026

Broad and Long-Standing Distribution Relationships with brokers, agents, advisors, marketplaces and other distributors strengthened through AIG’s dedication to quality.

Item 1, Business: distribution relationships · Dépôt 12/02/2026

Years Ended December 31, Change (in millions) 2025 2024 2023 2025 vs 2024 2024 vs 2023 Underwriting results: Net premiums written $ 8,663 $ 8,364 $ 8,168 4 % 2 % Net premiums written, on constant dollar basis 3 3 Increase in unearned premiums (83) (219) (204) 62 (7) Net premiums earned 8,580 8,145 7,964 5 2 Losses and loss adjustment expenses incurred 4,781 4,463 4,641 7 (4) Acquisition expenses: Amortization of deferred policy acquisition costs 1,088 1,018 943 7 8 Other acquisition expenses 364 342 350 6 (2) Total acquisition expenses 1,452 1,360 1,293 7 5 General operating expenses 1,229 1,095 1,028 12 7 Underwriting income $ 1,118 $ 1,227 $ 1,002 (9) % 22 % Loss ratio 55.7 54.8 58.3 0.9 (3.5) Acquisition ratio 16.9 16.7 16.2 0.2 0.5 General operating expense ratio 14.3 13.4 12.9 0.9 0.5 Expense ratio 31.2 30.1 29.1 1.1 1.0 Combined ratio 86.9 84.9 87.4 2.0 (2.5) Adjustments for accident year loss ratio, as adjusted and accident year combined ratio, as adjusted: Catastrophe losses and reinstatement premiums (2.2) (2.9) (3.9) 0.7 1.0 Prior year development, net of reinsurance and prior year premiums 0.9 1.0 (1.8) (0.1) 2.8 Accident year loss ratio, as adjusted 54.4 52.9 52.6 1.5 0.3 Accident year combined ratio, as adjusted 85.6 83.0 81.7 2.6 1.3 Premiums Years Ended December 31, 2025 and 2024 Comparison Net premiums written, excluding the favorable impact of foreign exchange ($38 million), increased by $261 million, or 3 percent, primarily from Property, Global Specialty and Casualty driven by strength of renewal retentions and new business growth, partially offset by lower production in Financial Lines.

MD&A, International Commercial: 2023–2025 results and renewal retention · Dépôt 12/02/2026

—Achieved fifth consecutive year of underwriting profit and 17 consecutive quarters of a sub-90 percent AYCR, as adjusted

Proxy, compensation discussion: underwriting performance history · Dépôt 31/03/2026

Relative TSR Business Competitors comprised of AXA, Chubb, CNA Financial, The Hartford, Markel, Tokio Marine, Travelers and W.R.

Proxy, compensation discussion: named business competitors · Dépôt 31/03/2026

Competition General Insurance operates in a highly competitive industry against global, national and local insurers and reinsurers and underwriting syndicates in specific market areas and product types.

Item 2, Competition: competitive industry · Dépôt 07/08/2026

Distributors have in the past, and may in the future, elect to renegotiate the terms of existing relationships, such that those terms may not remain attractive or acceptable to us, limit the products they sell, including the types of products they offer on our behalf, or otherwise reduce or terminate their distribution relationships with us, with or without cause.

Item 1A, Risk Factors: distributor renegotiation and termination · Dépôt 12/02/2026

While market discipline continues to support price increases across most lines, we are seeing capacity move back into the market in certain segments given pricing levels which is putting pressure on rates.

MD&A, North America Commercial: historical pricing and capacity pressure · Dépôt 13/02/2025

“Our strong quarterly results demonstrate our ability to perform well in the current market, which has transitioned from an extended phase of broad positive pricing into a more selective environment, where profitability and growth are increasingly dependent on line-specific dynamics.

Second-quarter release: management commentary on selective pricing · Dépôt 06/08/2026

dollars 9 % Property lines 2 Increase (decrease) on constant dollar basis, excluding Property lines 11 % Reconciliations of Accident Year Loss and Accident Year Combined Ratios, as Adjusted Three Months Ended June 30, 2025 2026 North America Commercial Combined ratio 85.9 84.0 Catastrophe losses and reinstatement premiums (4.7) (4.1) Prior year development, net of prior year premiums 5.0 6.8 Accident year combined ratio, as adjusted 86.2 86.7 International Commercial Combined ratio 85.9 91.3 Catastrophe losses and reinstatement premiums (1.4) (3.9) Prior year development, net of prior year premiums 0.5 (0.1) Accident year combined ratio, as adjusted 85.0 87.3 Global Personal Combined ratio 98.5 92.9 Catastrophe losses and reinstatement premiums (2.4) (1.7) Prior year development, net of prior year premiums

Supplementary reconciliations: commercial accident-year combined ratios · Dépôt 06/08/2026

Our broad market capabilities in personal, commercial, specialty, and A&H lines made available by our underwriting expertise, business infrastructure, and global presence, help define our competitive advantage.

Chubb Business: competing capabilities and global presence · Dépôt 27/02/2026

We obtain business from the local and major international insurance brokers and typically pay a commission to brokers for business accepted and bound.

Chubb Business: broker distribution · Dépôt 27/02/2026

Within Middle Market, products and services are tailored to certain targeted industry segments of significant size and complexity that require unique underwriting, claims handling services, risk management or other insurance-related products and services.

Travelers Business Insurance: tailored services for complex customers · Dépôt 12/02/2026

3 GENERAL INSURANCE Three Months Ended June 30, ($ in millions) 2025 2026 Change Gross premiums written $ 10,056 $ 10,943 9 % Net premiums written $ 6,880 $ 7,516 9 % Net premiums written, on constant dollar basis 9 % Underwriting income (loss) $ 626 $ 686 10 % Net investment income $ 871 $ 871 — % Adjusted pre-tax income(a) $ 1,492 $ 1,546 4 % Underwriting ratios: General Insurance (GI) CR 89.3 89.0 (0.3) pts GI Loss ratio 58.3 58.2 (0.1) Less: impact on loss ratio Catastrophe losses and reinstatement premiums (2.9) (3.4) (0.5) Prior year development, net of prior year premiums 2.0 2.5 0.5 GI Accident year loss ratio, as adjusted 57.4 57.3 (0.1) GI Expense ratio 31.0 30.8 (0.2) GI Accident year combined ratio, as adjusted 88.4 88.1 (0.3) pts •Second quarter NPW of $7.5 billion increased 9% from the prior year quarter both on a reported basis and a constant dollar basis.

Second-quarter release: General Insurance results and underwriting ratios · Dépôt 06/08/2026

•The combined ratio was 92.9%, improving 560 basis points from 98.5% in the prior year quarter, primarily due to lower AYLR and acquisition ratio reflecting earn-in of improved High Net Worth business commission terms, lower GOE ratio and reduced catastrophe-related charges.

Second-quarter release: Global Personal improved commission terms · Dépôt 06/08/2026

Insurance companies compete through a combination of risk acceptance criteria, product pricing, service levels and terms and conditions.

Item 2, Competition: pricing, risk acceptance and policy terms · Dépôt 07/08/2026

We continue to proactively identify segment growth areas as market conditions warrant through effective portfolio management, while non-renewing unprofitable business.

MD&A, North America Commercial: nonrenewal of unprofitable business · Dépôt 13/02/2025

(a)approval of policy language and rates;

Item 1, Regulation: approval of policy language and rates · Dépôt 13/02/2025

Condensed Consolidated Statements of Cash Flows (unaudited) Six Months Ended June 30, (in millions) 2026 2025 Cash flows from operating activities: Net income $ 1,711 $ 1,842 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Noncash revenues, expenses, gains and losses included in income (loss): Net losses on sales of securities available for sale and other assets 265 453 Net (gain) loss on divestitures and other 133 (53) Gain on extinguishment of debt — (5) Unrealized (gains) losses in earnings - net 112 (805) Equity in (income) loss from equity method investments, net of dividends or distributions (27) 13 Depreciation and other amortization 1,788 1,749 Changes in operating assets and liabilities: Insurance reserves 1,865 754 Premiums and other receivables and payables - net (754) (813) Reinsurance assets, net (876) (598) Capitalization of deferred policy acquisition costs (1,904) (1,688) Current and deferred income taxes - net 247 501 Other, net (689) (15) Total adjustments 160 (507) Net cash provided by operating activities 1,871 1,335 Cash flows from investing activities: Proceeds from (payments for) Sales or distributions of: Available for sale securities 6,241 7,387 Other securities 895 86 Other invested assets 1,430 1,342 Maturities of fixed maturity securities available for sale 5,557 4,101 Principal payments received on and sales of mortgage and other loans receivable 317 660 Purchases of: Available for sale securities (12,901) (13,300) Other securities (711) (76) Other invested assets (2,473) (718) Mortgage and other loans receivable (61) (202) Net change in short-term investments 2,057 4,449 Other, net (270) (414) Net cash provided by investing activities 81 3,315 Cash flows from financing activities: Proceeds from (payments for) Issuance of long-term debt — 1,241 Repayments of long-term debt (15) (1,087) Purchase of common stock (1,153) (4,007) Dividends on common stock (504) (488) Other, net (47) 129 Net cash used in financing activities (1,719) (4,212) Effect of exchange rate changes on cash and restricted cash (13) 31 Net increase in cash and restricted cash 220 469 Cash and restricted cash at beginning of year 1,345 1,372 Cash and restricted cash at end of period $ 1,565 $ 1,841 6 AIG | Second Quarter 2026 Form 10-Q TABLE OF CONTENTS American International Group, Inc.

Condensed consolidated cash flows: first-half earnings, cash generation and distributions · Dépôt 07/08/2026

178 AIG | 2025 Form 10-K TABLE OF CONTENTS Condensed Financial Information of Registrant (Continued) Statements of Cash Flows – Parent Company Only Schedule II Years Ended December 31, (in millions) 2025 2024 2023 Net cash provided by (used in) operating activities $ 2,083 $ 3,367 $ 4,309 Cash flows from investing activities: Sales and maturities of investments 2,924 6,018 3,367 Purchase of investments (1,303) (353) (2,070) Net change in short-term investments 2,568 (523) (4,393) Contributions from (to) subsidiaries - net 312 (12) (47) Loans to subsidiaries - net (239) — 84 Other, net 28 278 1,025 Net cash provided by (used in) investing activities 4,290 5,408 (2,034) Cash flows from financing activities: Issuance of long-term debt 1,241 660 742 Repayments of long-term debt (852) (2,047) (2,037) Redemption of preferred stock — (485) — Dividends on preferred stock and preferred stock redemption premiums — (22) (29) Cash dividends paid on common stock (976) (1,002) (997) Loans from subsidiaries - net — — (97) Purchase of common stock (5,836) (6,652) (2,961) Other, net 54 822 3,108 Net cash provided by (used in) financing activities (6,369) (8,726) (2,271) Change in cash and restricted cash 4 49 4 Cash and restricted cash at beginning of year 59 10 6 Cash and restricted cash at end of year $ 63 $ 59 $ 10 Supplementary disclosure of cash flow information: Years Ended December 31, (in millions) 2025 2024 2023 Cash $ 8 $ 4 $ 10 Restricted cash included in Short-term investments 55 55 — Total cash and restricted cash shown in Statements of Cash Flows – Parent Company Only $ 63 $ 59 $ 10 Cash (paid) received during the period for: Interest: Third party $ (382) $ (611) $ (455) Intercompany 2 1 (3) Taxes: Income tax authorities 178 (231) (109) Intercompany 627 248 399 Intercompany non-cash financing and investing activities: Capital contributions 312 371 861 Dividends received in the form of securities — — 314 See accompanying Notes to Condensed Financial Information of Registrant.

Schedule II: parent-only cash flows · Dépôt 12/02/2026

68 AIG | Second Quarter 2026 Form 10-Q TABLE OF CONTENTS ITEM 2 | Liquidity and Capital Resources LIQUIDITY AND CAPITAL RESOURCES OF AIG PARENT AND SUBSIDIARIES AIG Parent As of June 30, 2026 and December 31, 2025, respectively, AIG Parent had approximately $7.4 billion and $9.3 billion in liquidity sources held in the form of cash, short-term investments and AIG Parent's committed, revolving syndicated credit facility of $3.0 billion.

Liquidity and Capital Resources: parent liquidity sources · Dépôt 07/08/2026

Equity SHARES OUTSTANDING Common Stock The following table presents a rollforward of outstanding shares: Six Months Ended June 30, 2026 Common Stock Issued Treasury Stock Common Stock Outstanding (in millions) Shares, beginning of year 1,906.7 (1,368.5) 538.2 Shares issued — 1.7 1.7 Shares repurchased — (15.2) (15.2) Shares, end of period 1,906.7 (1,382.0) 524.7 Dividends Dividends are payable on AIG common stock, par value $2.50 per share (AIG Common Stock) only when, as and if declared by our Board of Directors (the Board) in its discretion, from funds legally available for this purpose.

Note 13, Equity: outstanding-share rollforward · Dépôt 07/08/2026

Share-based compensation expense - pre-tax(a) 207 211 199 Share-based compensation expense - after tax(b) 167 157 (a)As a result of accelerated vesting events, such as retirement eligibility in the year of grant and involuntary terminations, we recognized $34 million, $52 million and $58 million in 2025, 2024 and 2023, respectively, prior to the end of the specified vesting periods.

Note 19: share-based compensation and accelerated recognition · Dépôt 12/02/2026

At Risk At least 81 percent of each named executive’s annual target direct compensation is at risk based on performance and subject to our clawback policies.

Proxy, compensation framework: at-risk target compensation and clawbacks · Dépôt 31/03/2026

With respect to 2025 compensation, at least one-third of each named executive’s annual target direct compensation was delivered in LTI, of which at least 75 percent is in the form of performance-based awards (PSUs and stock options) that reward long-term value creation and performance achievements, and stock price appreciation relative to our trading price at the time of grant.

Proxy, compensation framework: actual 2025 long-term award mix · Dépôt 31/03/2026

Zaffino’s employment due to his retirement or his involuntary termination without Cause after he becomes eligible to retire, subject to his execution of a release of claims and agreement to abide by specified restrictive covenants, he is eligible to receive: nPro Rata Bonus nEquity Acceleration Restrictive Covenants Mr.

Proxy, termination arrangements: retirement-related equity acceleration eligibility · Dépôt 31/03/2026

Each of these committees is composed exclusively of independent directors.

Proxy, Board Committees: committee independence · Dépôt 31/03/2026

As a result, we met with shareholders representing approximately 50 percent of the Company’s outstanding common stock across more than 35 engagements.

Proxy, shareholder engagement: completed engagements · Dépôt 31/03/2026

As part of our regular assessment of year-on-year improvements to our compensation program design and disclosure, which also takes into account shareholder feedback, we have expanded this year’s disclosure to include more detailed information on a number of topics, including: nour shareholder engagement program, shareholder feedback received and associated responsiveness actions taken; nour performance metrics, including a description of each performance metric, why we use it and how it is evaluated in each of the STI and LTI plans; nour goal-setting process, the rigor of our performance goals and our forward-looking goals for relative Total Shareholder Return metrics; AIG 2026 PROXY STATEMENT 41 nhow our STI and LTI payouts are calculated; and nour use of peer groups.

Proxy, shareholder engagement: disclosure changes · Dépôt 31/03/2026

Wittman 464,601,110 509,736 267,706 27,587,076 Peter Zaffino 453,589,684 11,532,819 256,049 27,587,076 Proposal 2 – Advisory Vote to Approve Named Executive Officer Compensation: The voting results were as follows: For Against Abstain Broker Non-Votes 359,800,583 104,658,356 919,613 27,587,076 Proposal 3 – Ratify Appointment of PricewaterhouseCoopers LLP to Serve as AIG’s Independent Auditor for 2026: The voting results were as follows: For Against Abstain Broker Non-Votes 463,063,134 29,719,774 182,720 — Section 9 - Financial Statements and Exhibits

May 2026 annual meeting: compensation voting results · Dépôt 14/05/2026

Among other items, the amendments: (i) provide that, in addition to the Chair, the whole Board may adopt rules of conduct for shareholder meetings and determine whether proper shareholder notice of a proposed matter to be brought before a meeting has been given; (ii) provide the Board with sole discretion to determine the number of directors on the Board; (iii) provide that only registered stockholders may bring matters before a shareholder meeting; (iv) revise disclosure requirements applicable to shareholder requests to call special meetings and fix record dates for written consents, shareholder notices of a director nominee and director nominees; (v) provide that a shareholder request to call a special meeting will not be honored in certain limited situations, including if: (a) the request is for an improper purpose, (b) the request is submitted in close proximity to an upcoming annual meeting or (c) the request’s purpose is substantially similar to a recent item; (vi) provide that additional time to file a shareholder notice of a director nominee if the number of directors to be elected at an annual meeting is increased by virtue of an increase in the Board’s size will not be provided if the increase in the Board’s size is related to an agreement or understanding between the Company and a third party; and (vii) provide that an election of directors will be considered contested if, as of 21 days prior to the filing of the related definitive proxy statement, the number of director nominees exceeds the number of directors to be elected.

December 2025 bylaws: shareholder-meeting and nomination provisions · Dépôt 15/12/2025

On the Transition Date, Mr. Zaffino will become a Senior Advisor to the CEO of the Company, and John Rice, the Company’s Lead Independent Director, will become Chair of the Board.

September 2026 leadership transition: lead independent director becoming Chair · Dépôt 02/09/2026

(“AIG”) announced that Jon Hancock, Executive Vice President and Chief Executive Officer, General Insurance, will retire and transition to the role of Senior Advisor, effective December 31, 2026, following more than six years in executive leadership roles at AIG and a distinguished, 40-year career in the insurance industry.

September 2026 announcement: General Insurance CEO retirement effective December 31 · Dépôt 16/09/2026

For domestic insurance subsidiaries, aggregate minimum required statutory capital and surplus is based on the greater of the Risk-Based Capital (RBC) level that would trigger regulatory action or minimum requirements per state insurance regulation.

Note 18: domestic statutory capital requirement basis · Dépôt 12/02/2026

At both December 31, 2025 and 2024, all domestic and foreign insurance subsidiaries individually exceeded the minimum required statutory capital and surplus requirements and all domestic insurance subsidiaries individually exceeded RBC minimum required levels.

Note 18: subsidiary capital and RBC minimum compliance · Dépôt 12/02/2026

Solvency II governs the insurance industry’s solvency framework for the EU, including minimum capital and solvency requirements, governance requirements, risk management and public reporting standards applicable to AIG’s subsidiaries operating in the EU.

Item 1, Regulation: EU Solvency II framework · Dépôt 12/02/2026

Capital and surplus requirements of our foreign subsidiaries differ from those prescribed in the U.S., and can vary significantly by jurisdiction.

Note 18: differing foreign capital requirements · Dépôt 12/02/2026

As of June 30, 2026, a total of $3.0 billion remained available under the Facility.

Liquidity and Capital Resources: available revolving facility · Dépôt 07/08/2026

Our ability to utilize the Facility is conditioned on the satisfaction of certain legal, operating, administrative and financial covenants and other requirements contained in the Facility.

Liquidity and Capital Resources: credit-facility conditions · Dépôt 07/08/2026

SUBSIDIARY DIVIDEND RESTRICTIONS Payments of dividends to us by our insurance subsidiaries are subject to certain restrictions imposed by regulatory authorities.

Note 18: subsidiary dividend restrictions · Dépôt 12/02/2026

The following table presents the rollforward of activity in loss reserves: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2026 2025 2026 2025 Liability for unpaid loss and loss adjustment expenses, beginning of period $ 69,963 $ 68,896 $ 70,666 $ 69,168 Reinsurance recoverable (28,198) (27,799) (28,871) (29,026) Net Liability for unpaid loss and loss adjustment expenses, beginning of period 41,765 41,097 41,795 40,142 Losses and loss adjustment expenses incurred: Current year 3,779 3,523 7,440 7,332 Prior years, excluding discount and amortization of deferred gain (246) 25 (372) (8) Prior years, discount charge (benefit) 43 45 18 85 Prior years, amortization of deferred gain on retroactive reinsurance(a) 8 (100) (27) (122) Total losses and loss adjustment expenses incurred 3,584 3,493 7,059 7,287 Losses and loss adjustment expenses paid: Current year (885) (1,023) (1,365) (1,452) Prior years (2,396) (2,569) (5,249) (5,530) Total losses and loss adjustment expenses paid (3,281) (3,592) (6,614) (6,982) Other changes: Foreign exchange effect (26) 895 (220) 1,379 Losses and loss adjustment expenses recognized within net (gain) loss on divestitures (5) 15 (1) 47 Retroactive reinsurance adjustment (net of discount)(b) 98 (20) 116 15 Other, net of reinsurance recoverables(c) (141) — (141) — Total other changes (74) 890 (246) 1,441 32 AIG | Second Quarter 2026 Form 10-Q TABLE OF CONTENTS ITEM 1 | Notes to Condensed Consolidated Financial Statements (unaudited) | 11.

Note 11: reserve rollforward and reinsurance recoverables · Dépôt 07/08/2026

Financial Lines (65) (43) 37 U.S. Property and Special Risks (124) 8 (7) Other Product Lines (148) (63) (65) Total North America Commercial $ (432) $ (156) $ (407) International Commercial: UK/Europe Casualty and Financial Lines $ 216 $ 170 $ 165 UK/Europe Property and Special Risks (19) (35) 81 Other Product Lines (273) (234) (98) Total International Commercial $ (76) $ (99) $ 148 60 AIG | 2025 Form 10-K TABLE OF CONTENTS ITEM 7 | Insurance Reserves Years Ended December 31, (in millions) 2025 2024 2023 Global Personal: U.S.

Insurance Reserves: UK/Europe adverse development · Dépôt 12/02/2026

Our gross loss reserves before reinsurance and discount are net of contractual deductible recoverable amounts due from policyholders of approximately $16.1 billion and $13.8 billion at June 30, 2026 and December 31, 2025, respectively.

Note 11: policyholder deductible recoverables · Dépôt 07/08/2026

At June 30, 2026 and December 31, 2025 we held collateral of approximately $10.2 billion and $9.6 billion, respectively, for these deductible recoverable amounts, consisting primarily of letters of credit and funded trust agreements.

Note 11: collateral for deductible recoverables · Dépôt 07/08/2026

•Our fundamental strategy across the portfolios is to seek investments with similar duration and cash flow characteristics to the associated insurance liabilities to the extent practicable.

Investments: liability-duration and cash-flow matching strategy · Dépôt 07/08/2026

–Insurance reserves are backed mainly by investment grade fixed maturity securities that meet our duration, currency, risk-return, capital, tax, liquidity, credit quality and diversification objectives.

Investments: investment-grade reserve backing · Dépôt 07/08/2026

Private equity fund investments included above are not redeemable, because distributions from the funds will be received when underlying investments of the funds are liquidated.

Note 4: private-equity fund illiquidity · Dépôt 07/08/2026

Fair Value Measurements FAIR VALUE OPTION The following table presents the gains or losses recorded related to the eligible instruments for which we elected the fair value option: Gain (Loss) Three Months Ended June 30, Gain (Loss) Six Months Ended June 30, (in millions) 2026 2025 2026 2025 Other bond securities(a) $ 13 $ 16 $ 10 $ 27 Alternative investments(b) (80) 63 (88) 87 Retained investment in Corebridge(c) — 455 (154) 664 Total gain (loss) $ (67) $ 534 $ (232) $ 778 (a)Includes certain securities supporting the funds withheld arrangements with Fortitude Re.

Note 4: alternative-investment and Corebridge fair-value results · Dépôt 07/08/2026

Consolidated Statements of Income (Loss) Years Ended December 31, (dollars in millions, except per common share data) 2025 2024 2023 Revenues: Premiums $ 23,751 $ 23,537 $ 25,564 Net investment income: Net investment income - excluding Fortitude Re funds withheld assets 4,066 4,111 3,266 Net investment income - Fortitude Re funds withheld assets 149 144 180 Total net investment income 4,215 4,255 3,446 Net realized losses: Net realized losses - excluding Fortitude Re funds withheld assets and embedded derivative (966) (434) (734) Net realized losses on Fortitude Re funds withheld assets (70) (39) (71) Net realized losses on Fortitude Re funds withheld embedded derivative (166) (75) (273) Total net realized losses (1,202) (548) (1,078) Other income 11 7 6 Total revenues 26,775 27,251 27,938 Benefits, losses and expenses: Losses and loss adjustment expenses incurred 14,162 14,567 15,393 Amortization of deferred policy acquisition costs 3,371 3,425 3,771 General operating and other expenses 5,053 5,529 5,399 Interest expense 396 462 516 (Gain) loss on extinguishment of debt (5) 14 (37) Net (gain) loss on divestitures and other (81) (616) 29 Total benefits, losses and expenses 22,896 23,381 25,071 Income from continuing operations before income tax expense 3,879 3,870 2,867 Income tax expense (benefit): Current 905 657 176 Deferred (123) 513 (50) Income tax expense 782 1,170 126 Income from continuing operations 3,097 2,700 2,741 Income (loss) from discontinued operations, net of income taxes — (3,626) 1,137 Net income (loss) 3,097 (926) 3,878 Less: Net income attributable to noncontrolling interests 1 478 235 Net income (loss) attributable to AIG 3,096 (1,404) 3,643 Less: Dividends on preferred stock and preferred stock redemption premiums — 22 29 Net income (loss) attributable to AIG common shareholders $ 3,096 $ (1,426) $ 3,614 Income per common share attributable to AIG common shareholders: Basic: Income from continuing operations $ 5.48 $ 4.11 $ 3.77 Income (loss) from discontinued operations $ — $ (6.30) $ 1.25 Net income (loss) attributable to AIG common shareholders $ 5.48 $ (2.19) $ 5.02 Diluted: Income from continuing operations $ 5.43 $ 4.07 $ 3.74 Income (loss) from discontinued operations $ — $ (6.24) $ 1.24 Net income (loss) attributable to AIG common shareholders $ 5.43 $ (2.17) $ 4.98 Weighted average shares outstanding: Basic 565,078,072 651,448,307 719,506,291 Diluted 570,349,988 657,283,160 725,233,068 See accompanying Notes to Consolidated Financial Statements.

Consolidated income statements: earnings, investment losses and interest expense · Dépôt 12/02/2026

1 FINANCIAL SUMMARY Three Months Ended June 30, ($ and shares in millions, except per share amounts) 2025 2026 Net income attributable to AIG common shareholders $ 1,144 $ 948 Net income per diluted share attributable to AIG common shareholders $ 1.98 $ 1.78 Net investment income $ 1,466 $ 1,127 Net investment income, APTI basis 955 908 Adjusted pre-tax income (loss) $ 1,391 $ 1,404 General Insurance 1,492 1,546 Other Operations (101) (142) Adjusted after-tax income attributable to AIG common shareholders $ 1,044 $ 1,069 Adjusted after-tax income per diluted share attributable to AIG common shareholders $ 1.81 $ 2.00 Weighted average common shares outstanding - diluted 577.9 533.5 Return on equity 11.0 % 9.4 % Adjusted return on equity 9.7 % 10.2 % Core operating return on equity 11.7 % 11.1 % Book value per share $ 74.14 $ 77.39 Adjusted book value per share $ 76.62 $ 79.98 Adjusted tangible book value per share $ 69.81 $ 72.18 Core operating book value per share $ 63.71 $ 74.43 Common shares outstanding (in millions) 559.8 524.7 For the second quarter of 2026, Net income attributable to AIG common shareholders was $948 million, or $1.78 per diluted common share, compared to net income of $1.1 billion, or $1.98 per diluted common share, in the prior year quarter.

Second-quarter financial summary: earnings and returns · Dépôt 06/08/2026

nAchieved Return on equity of 7.5 percent and Core Operating return on equity* of 11.1 percent.

Proxy, 2025 highlights: GAAP and core operating ROE · Dépôt 31/03/2026

Return on equity – Adjusted after-tax income excluding Investments AOCI, DTA and AIG’s ownership interest in Corebridge (Core operating return on equity) is used to show the rate of return on common shareholders’ equity excluding Investments AOCI, DTA and AIG’s ownership interest in Corebridge.

Non-GAAP definitions: core operating equity exclusions · Dépôt 06/08/2026

Core operating return on equity is derived by dividing actual or, for interim periods, annualized adjusted after-tax income attributable to AIG common shareholders by average AIG core operating shareholders’ equity.

Non-GAAP definitions: core operating ROE numerator and interim annualization · Dépôt 06/08/2026

On May 7, 2026, we sold 25.5 million shares of Corebridge common stock, representing our remaining interest in Corebridge, at a per share purchase price of $27.90.

Note 1: sale of remaining Corebridge interest · Dépôt 07/08/2026

The aggregate proceeds to AIG Parent were approximately $710 million.

Note 1: proceeds from final Corebridge sale · Dépôt 07/08/2026

■On February 6, AIG completed the acquisition of a 35% equity interest in Convex Group Limited and a 9.9% ownership stake in its majority shareholder Onex Corporation

First-quarter release: February 2026 completion of Convex and Onex investments · Dépôt 30/04/2026

nEstablished strategic relationship with CVC to form large-scale separately managed accounts (SMAs) across CVC’s credit strategies and the launch of CVC’s private equity secondaries evergreen platform with AIG as a cornerstone investor, contributing up to $1.5 billion from our existing private equity portfolio.

Proxy, strategic transactions: CVC investment commitment · Dépôt 31/03/2026

The year-over-year increase was primarily due to the absence of loss as a result of the deconsolidation of Corebridge in June 2024 and higher underwriting income and net investment income in General Insurance, partially offset by net realized losses excluding Fortitude Re funds withheld assets, largely due to impairments on investments in real estate.

Full-year release: deconsolidation effects and real-estate impairments · Dépôt 10/02/2026

June 30, 2026 December 31, 2025 (in millions) Investment Category Includes Fair Value Using NAV Per Share (or its equivalent) Unfunded Commitments Fair Value Using NAV Per Share (or its equivalent) Unfunded Commitments Investment Category* Private equity funds: Leveraged buyout Debt and/or equity investments made as part of a transaction in which assets of mature companies are acquired from the current shareholders, typically with the use of financial leverage $ 991 $ 435 $ 1,184 $ 527 Real assets Investments in real estate properties, agricultural and infrastructure assets, including power plants and other energy producing assets 410 74 516 81 Growth equity Funds that make investments in established companies for the purpose of growing their businesses 31 13 172 11 Private equity secondaries Investments in a pool of diversified funds across sectors and vintage years 303 74 71 98 Other Includes multi-strategy funds, co-investments and credit funds in opportunistic and distressed strategies 1,022 481 1,147 549 Total private equity funds 2,757 1,077 3,090 1,266 Hedge funds Funds that pool money from accredited investors and seek returns by investing in a wide variety of strategies aimed at generating returns independent of overall market direction 134 — 174 — Total $ 2,891 $ 1,077 $ 3,264 $ 1,266 *In the second quarter of 2026, AIG revised the list of investment categories.

Note 4: alternative-investment values and unfunded commitments · Dépôt 07/08/2026

Zaffino’s compensation pursuant to the Agreement or constitute a termination without Cause or for Good Reason for purposes of Sections 7(d) or 7(e) of the Agreement.

September 2026 employment amendment: unchanged compensation on transition · Dépôt 02/09/2026

Corebridge was consolidated until June 9, 2024.

Proxy, reconciliation: Corebridge consolidation end date · Dépôt 31/03/2026

Historique des publications

Sources

• filing-1 · Dépôt 12/02/2026
• filing-2 · Dépôt 07/08/2026
• filing-3 · Dépôt 31/03/2026
• filing-4 · Dépôt 13/02/2025
• filing-5 · Dépôt 14/02/2024
• filing-6 · Dépôt 01/05/2026
• filing-7 · Dépôt 06/08/2026
• filing-8 · Dépôt 30/04/2026
• filing-9 · Dépôt 10/02/2026
• filing-10 · Dépôt 16/09/2026
• filing-11 · Dépôt 02/09/2026
• filing-12 · Dépôt 14/05/2026
• filing-13 · Dépôt 15/12/2025
• Chubb Ltd annual report: competitor disclosure for comparison only. Its financial results, customer outcomes and advantages are not those of the subject issuer; compare only explicitly supported scope. · Dépôt 27/02/2026
• TRAVELERS COMPANIES, INC. annual report: competitor disclosure for comparison only. Its financial results, customer outcomes and advantages are not those of the subject issuer; compare only explicitly supported scope. · Dépôt 12/02/2026