Prudential Announces In-Kind Dividend Distribution and Completion of Jackson Financial Inc. Spin-off

Prudential announced that its Board Committee has approved the spin-off dividend, completing the separation of Jackson Financial Inc., which has become an independent company listed on the New York Stock Exchange under the ticker JXN. Eligible shareholders will receive 1 share of Jackson Class A common stock for every 40 Prudential shares held. Following the spin-off, Prudential initially holds 19.9% voting rights and 19.7% economic interest in Jackson, and plans to sell this stake within 12 months.