The Strength of THE ROCK®

A PROUD HISTORY A PROMISING FUTURE Issued by The Prudential Company of America, Pruco Company (in New York, by Pruco Life Insurance Company of ), or by Prudential Annuities Life Assurance Corporation.

Investment and Insurance Products: Not Insured by FDIC, NCUSIF, or Any Federal Government Agency. May Lose Value. Not a Deposit of or Guaranteed by Any Bank, Credit Union, Bank Affiliate, or Credit Union Affiliate.

1032708 1032708-00001-00 Ed. 04/2020 History Prudential Financial, Inc. of the A HISTORY OF KEEPING OUR PROMISES For 145 years, Prudential Financial has been helping individuals, families and institutions achieve financial wellness by helping to grow Rock and protect their wealth. Prudential is one of the world’s largest financial institutions, with over 1875 The Prudential Friendly Society is founded $1.5 trillion in assets under management as of December 31, 2019. by John Fairfield Dryden. It was the first company in Our affiliated businesses offer a wide array of products and services, the to make life insurance available to working class people including: •• life insurance •• mutual funds 1896 The Rock of Gibraltar is used as a company symbol •• annuities •• for the first time. Today, “The Rock” is widely recognized •• -related services and continues to represent the strength of Prudential Our balanced mix of risks and businesses positions us well to manage through challenging economic environments. Our commitment to 1932 Prudential’s innate conservativism protects financial stability means we keep our promises, in good times and bad. the company from the ravages of the Great Depression. Not one Prudential employee lost his or her job because of economic conditions How we conduct our business is just as important as what we do. 1942-45 Prudential donates the use of its downtown Newark, NJ building to support U.S. troops during World War II. We’re proud to have been named one of the world’s most ethical companies for six years in a row. 1970 Prudential becomes the first major insurance company to market an individual retirement income solution called a “variable annuity” to help Americans save money for retirement Helping people protect and grow their wealth for more than 145 years and counting... 2001 Prudential goes public to achieve financial wellness.

2008-09 Prudential continues to keep our promises to our customers during the “Great Recession.” The company declined federal bailout funds from the Troubled Asset Relief Program (TARP)

2012 The Prudential Insurance Company of America closes two major risk transfer transactions with the retirement plans for General Motors and Verizon Communications.

2020 Prudential Financial was rated No. 1 in FORTUNE® magazine’s 2020 World’s Most Admired Companies® ranking in the Insurance: Life and Health category (January 2020) for the fifth consecutive year

2/4 Strength of the Rock PRUDENTIAL Our business can help you address your financial challenges during every phase of life. We offer life insurance and annuity products and solutions that can help you: •• save for the future •• protect your assets from market downturns •• provide supplemental income in retirement •• leave a legacy for a loved one •• protect and grow your business •• convert your savings into a guaranteed stream of income in retirement

Talk to your financial professional today about how Prudential can help you achieve your goals.

OUR RATINGS AND WHY THEY MATTER When you contract with an insurance company for an annuity or life insurance, you want to be sure that company is financially strong and will be able to fulfill its promises to you – even if those promises won’t be coming due until years later. One way to assess the financial strength of an insurance company is by looking at its ratings from independent third-party agencies. These consistently strong ratings show that we are a company that keeps its promises. Prudential is the largest insurer in the United States (life and health combined) based on total admitted assets, according to A.M. Best’s ranking for Prudential Financial as of 12/31/18. The financial strength of our domestic insurance company subsidiaries* is rated by the major independent rating agencies as follows:

A.M. BEST COMPANY FITCH RATINGS STANDARD & POOR’S MOODY’S A+ AA- AA- Aa3 (2nd category of 16) (4th category of 19) (4th category of 23) (5th category of 21) Superior ability to meet ongoing Very strong capacity to meet policyholder Very strong financial Good financial obligations to policyholders and contract obligations security characteristics

Moody’s does not rate Pruco Life Insurance Company of New Jersey or Prudential Annuities Life Assurance Corporation. Ratings as of February 5, 2020. The above ratings are subject to change and do not reflect any subsequent rating agency actions. While ratings can be objective indicators of an insurance company’s financial strength and can provide a relative measure to help select among insurance companies, they are not guarantees of the future financial strength and/or claims-paying ability of a company and do not apply to the investment performance or financial strength of the underlying variable investment options, which are subject to market risk. * The Prudential Insurance Company of America, Pruco Life Insurance Company, Pruco Life Insurance Company of New Jersey, and Prudential Annuities Life Assurance Corporation

Strength of the Rock 3/4 Ratings Information: Pruco Life Insurance Company and Pruco Life Insurance Company of New Jersey (in New York) are members of the Prudential Financial family of companies and are the issuers of variable annuities. Prudential Annuities Life Assurance Corporation (PALAC) is a member of the Prudential Financial family of companies and is the issuer of fixed and fixed indexed annuities. Each is solely responsible for its own financial obligations. All are highly rated by the major independent rating agencies for their ability to meet financial obligations.

We make every effort to update our literature as soon as possible after a ratings change. Please consult with your financial professional or visit our investor relations site, www.investor.prudential.com, for the most current ratings information.

Life insurance and annuities are issued by The Prudential Insurance Company of America, Pruco Life Insurance Company (except in New York, for Life Insurance, issued by Pruco Life Insurance Company of New Jersey), Newark, NJ (main office). Variable annuities are distributed by Prudential Annuities Distributors, Inc., Shelton, CT. Variable universal life policies are offered through Pruco Securities, LLC (member SIPC), Newark, NJ. All are Prudential Financial companies and each is solely responsible for its own financial condition and contractual obligations. Prudential Annuities is a business of Prudential Financial, Inc. This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. If you would like information about your particular investment needs, please contact a financial professional. Life insurance and annuity contracts contain exclusions, limitations, reductions of benefits, and terms for keeping them in force. Your licensed financial professional can provide you with complete details. All references to guarantees, including optional benefits, are backed by the claims-paying ability of the issuing company and do not apply to the underlying investment options. Your needs and suitability of life insurance and annuity products and benefits should be carefully considered before investing. “World’s Most Ethical Companies” and “Ethisphere” names and marks are registered trademarks of Ethisphere LLC.

© 2020 Prudential Financial, Inc. and its related entities. Prudential Annuities, Prudential, the Prudential logo, and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

[REF# 9302848] 4/4 Strength of the Rock