Prudential Financial, Inc. (PRU)

Table of Contents

Prudential Financial, Inc. (PRU)

Exhibit 99.2

Quarterly Financial Supplement

Third Quarter 2021

Reference is made to Prudential Financial, Inc.'s (PFI) filings with the Securities and Exchange Commission for general information, and consolidated financial information. All financial information in this document is unaudited.

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Table of Contents

Prudential Financial, Inc. Quarterly Financial Supplement Third Quarter 2021

TABLE OF CONTENTS

HIGHLIGHTS Financial Metrics Summary Financial Highlights Other Financial Highlights Operations Highlights

Combined Statements of Operations Consolidated Balance Sheets Combining Balance Sheets Short-Term and Long-Term Debt - Unaffiliated

PGIM Statements of Operations Supplementary Revenue and Assets Under Management Information Supplementary Assets Under Management Information

U.S.BUSINESSES Combined Statements of Operations Statements of Operations - Retirement Retirement Sales Results and Account Values Statements of Operations - Group Insurance Group Insurance Supplementary Information Statements of Operations - Individual Annuities Individual Annuities Sales Results and Account Values Individual Annuities Account Value Activity Individual Annuities Living Benefit Features Individual Annuities Death Benefit Features Statements of Operations - Individual Life Individual Life Supplementary Information Statements of Operations - Assurance IQ

INTERNATIONAL BUSINESSES Combined Statements of Operations Statements of Operations - Life Planner Statements of Operations - Gibraltar Life and Other Sales Results and Supplementary Information

CORPORATE AND OTHER Statements of Operations

INVESTMENT PORTFOLIO Investment Portfolio Composition Investment Portfolio Composition - Japanese Insurance Operations and Excluding Japanese Insurance Operations Investment Results Investment Results - Japanese Insurance Operations Investment Results - Excluding Japanese Insurance Operations

COMBINED STATEMENTS OF OPERATIONS - AOI TO U.S. GAAP RECONCILIATION OF REVENUES AND BENEFITS AND EXPENSES

KEY DEFINITIONS AND FORMULAS

RATINGS AND INVESTOR INFORMATION

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Table of Contents Prudential Financial, Inc. Quarterly Financial Supplement Third Quarter 2021

Full Service Retirement Business - In July 2021, the Company entered into an agreement with Great-West & Annuity Insurance Company to sell the Company's Full Service Retirement business. Beginning with the third quarter of 2021, the Company is reporting the assets and liabilities of the Full Service Retirement business as "held-for-sale" and has transferred the results of this business to Divested and Run-off Businesses within Corporate and Other operations. All prior period amounts have been restated to conform to the current period presentation. The transaction is expected to close by the end of the first quarter of 2022, subject to the receipt of regulatory approvals and the satisfaction of customary closing conditions. Individual Annuities Business - In September 2021, the Company entered into a definitive agreement to sell a portion of its inforce traditional variable annuity block of business to Fortitude Group Holdings LLC. Beginning with the third quarter of 2021, the Company is reporting the assets and liabilities of this block of business as "held-for-sale" with results continuing to be reported within the Individual Annuities segment. The transaction is expected to close in the first half of 2022, subject to the receipt of regulatory approvals and the satisfaction of customary closing conditions.

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Prudential Financial, Inc. Quarterly Financial Supplement Third Quarter 2021

FINANCIAL METRICS SUMMARY (in millions, except per share and return on equity data)

Earnings Adjusted operating income (loss) before income taxes: PGIM U.S. Businesses International Businesses Corporate and Other Total adjusted operating income before income taxes Income taxes, applicable to adjusted operating income After-tax adjusted operating income

Income (loss) attributable to Prudential Financial, Inc.

Return on Equity Operating Return on Average Equity (based on adjusted operating income) (1) Return on Average Equity (based on net income (loss))

Distributions to Shareholders Dividends paid Share repurchases Total capital returned

Per Share Data Net income (loss) (diluted) Adjusted Operating Income (diluted) Shareholder dividends Book value Book value excluding AOCI and FX (2)

Shares Outstanding Weighted average number of common shares (basic) Weighted average number of common shares (diluted) End of period common shares (basic) End of period common shares (diluted)

2020

2021

3Q

4Q

1Q

2Q

3Q

2020

Year-to-date

2021

% change

370 848 775 (493) 1,500 262 1,238

1,487

404 794 790 (521) 1,467 337 1,130

819

651 843 871 (322) 2,043 425 1,618

2,828

315 1,047

803 (336) 1,829 389 1,440

2,158

327 1,090

887 (460) 1,844 357 1,487

1,530

13.3% 9.0%

11.9% 4.9%

16.5% 18.0%

14.2% 14.3%

14.5% 9.8%

441

442

467

460

451

--

--

375

875

875

441

442

842

1,335

1,326

3.70 3.08 1.10 165.75 94.36

2.03 2.80 1.10 167.81 94.79

6.98 3.99 1.15 145.05 100.49

5.40 3.60 1.15 160.31 104.39

3.90 3.78 1.15 160.29 106.85

395.3 397.1 395.4 399.5

396.2 398.3 396.4 401.8

396.3 398.8 394.3 400.1

391.1 394.1 386.8 393.3

383.8 386.8 378.9 386.1

858 1,909 2,162 (1,446) 3,483

700 2,783

(1,193)

1,293 2,980 2,561 (1,118) 5,716 1,171 4,545

6,516

51% 56% 18% 23% 64% 67% 63%

646%

9.6% -2.5%

15.1 % 13.9 %

1,327 500

1,827

1,378 2,125 3,503

4% 325% 92%

(3.06) 6.91 3.30

16.32 11.38 3.45

633% 65% 5%

395.6

390.4

-1%

397.6

393.2

-1%

__________

(1) Operating Return on Average Equity (based on adjusted operating income) is a non-GAAP measure and represents adjusted operating income after-tax, annualized for interim periods, divided by average Prudential Financial, Inc. equity excluding accumulated other comprehensive income and adjusted to remove amounts included for foreign currency exchange rate remeasurement as described on page 3.

(2) AOCI represents accumulated other comprehensive income and FX represents the remeasurement of foreign currency. See page 3 for further details.

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Prudential Financial, Inc. Quarterly Financial Supplement Third Quarter 2021

FINANCIAL HIGHLIGHTS (in millions, except per share data)

2020

2021

3Q

4Q

1Q

2Q

3Q

Year-to-date

2020

2021

Earnings per share of Common Stock (diluted): After-tax adjusted operating income

3.08

2.80

3.99

3.60

3.78

6.91

11.38

Reconciling items: Realized investment gains (losses), net, and related charges and adjustments Market experience updates Divested and Run-off Businesses: Closed Block division Other Divested and Run-off Businesses Difference in earnings allocated to participating unvested share-based payment awards Other adjustments (1) Total reconciling items, before income taxes Income taxes, not applicable to adjusted operating income Total reconciling items, after income taxes

Net income (loss) attributable to Prudential Financial, Inc.

0.42 (0.34)

0.02 (0.21) (0.01) (0.03) (0.15) (0.77) 0.62 3.70

(2.99) 2.65

0.91

0.94

0.76

0.57

(0.02) 0.29 0.01 (0.04) (1.81) (1.04) (0.77) 2.03

0.09 0.11 (0.05) (0.03) 3.53 0.54 2.99 6.98

0.08 0.86 (0.03) (0.03) 2.36 0.56 1.80 5.40

0.25 (0.51)

0.07 0.12

-- (0.02) (0.09) (0.21) 0.12 3.90

(7.82)

3.84

(2.56)

0.84

(0.04) (1.43) 0.05 0.16 (11.64) (1.67) (9.97) (3.06)

0.23 1.10 (0.07) (0.09) 5.85 0.91 4.94 16.32

Weighted average number of outstanding common shares (basic) Weighted average number of outstanding common shares (diluted)

395.3 397.1

396.2 398.3

396.3 398.8

391.1 394.1

383.8 386.8

395.6 397.6

390.4 393.2

For earnings per share of Common Stock calculation: Net income (loss) attributable to Prudential Financial, Inc.

Less: Earnings allocated to participating unvested share-based payment awards Net income (loss) attributable to Prudential Financial, Inc. for earnings per share of Common Stock calculation

1,487 18

1,469

819 2,828 2,158

10

44

31

809 2,784 2,127

1,530 23

1,507

(1,193) 16

(1,209)

6,516 98

6,418

After-tax adjusted operating income Less: Earnings allocated to participating unvested share-based payment awards

After-tax adjusted operating income for earnings per share of Common Stock calculation

1,238 15

1,223

1,130 13

1,117

1,618 26

1,592

1,440 20

1,420

1,487 23

1,464

2,783 34

2,749

4,545 69

4,476

___________

(1) Represents adjustments not included in the above reconciling items. Also includes certain components of consideration for business acquisitions, which are recognized as compensation expense over the requisite service periods, as well as changes in the fair value of the associated contingent consideration.

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