AIG Announces Launch of Initial Public Offering of Corebridge Financial, Inc.

American International Group, Inc. (NYSE: AIG) today launched the initial public offering (“IPO”) of its majority-owned subsidiary, Corebridge Financial, Inc. (“Corebridge,” previously “SAFG Retirement Services, Inc.”).

AIG, as the selling stockholder, is offering 80 million shares of common stock (out of 645 million total common shares) of Corebridge and has granted a 30-day option to the underwriters for the purchase of up to an additional 12 million shares of common stock. The IPO price is currently expected to be between USD 21 and USD 24 per share. All of the net proceeds from the offering will go to AIG.

The shares are expected to trade on the New York Stock Exchange under the ticker symbol “CRBG.”

J.P. Morgan is acting as Global Coordinator and a Lead Active Bookrunner for the proposed offering. Morgan Stanley and Piper Sandler are also acting as Lead Active Bookrunners for the proposed offering. BofA Securities, Citigroup and Goldman Sachs & Co. LLC are acting as Active Bookrunners for the proposed offering.

The proposed offering of these securities will be made only by means of a prospectus. A registration statement relating to the proposed IPO has been filed with the U.S. Securities and Exchange Commission, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. Copies of the registration statement, may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-866-803-9204 or by email at [email protected]; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Piper Sandler & Co., Attention: Piper Sandler & Co., 1251 Avenue of the Americas, 6th Floor, New York, NY 10020, or by telephone at 1-800-747-3924 or by email at [email protected]; BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255, or by email at [email protected]; Citigroup Global Markets Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-800-831-9146 and Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 1-866-471-2526 or by email at [email protected].

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

About AIG

American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions and other financial services to customers in approximately 70 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange.

About Corebridge Financial

Corebridge Financial makes it possible for more people to take action in their financial lives. With more than $350 billion in assets under management and administration as of June 30, 2022, Corebridge is one of the largest providers of retirement solutions and insurance products in the United States. We proudly partner with financial professionals and institutions to help individuals plan, save for and achieve secure financial futures.

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