Dividends are not guaranteed. They are declared annually by Guardian’s Board of Directors. The total dividend calculation includes mortality experience and expense management as well as investment results.

1 Public fixed-income holdings excluding surplus note debentures are comprised of public corporates (76.7%), structured finance (8.6%), municipal securities (3.3%), US governments (3.0%), high yield public corporates & bank loans (6.4%), and emerging market securities (2.0%).

2 Affiliates and subsidiaries includes $957 million in affiliates classified as LLCs on the annual statement that are not private equity.

3 Public equity excludes bond & cash mutual funds and is hedged to protect Guardian’s capital from market volatility.

4 Total Bonds includes public and private debt but excludes surplus note debentures classified as Schedule BA invested assets, commercial mortgages and preferred stock.

Financial information concerning Guardian as of December 31, 2022, on a statutory basis: Admitted Assets = $76.0 billion; liabilities = $67.2 billion (including $55.0 billion of reserves); and surplus = $8.8 billion.

Dividends are not guaranteed. They are declared annually by Guardian’s Board of Directors. The total dividend calculation includes mortality experience and expense management as well as investment results.

1 Public fixed-income holdings excluding surplus note debentures are comprised of public corporates (76.7%), structured finance (8.6%), municipal securities (3.3%), US governments (3.0%), high yield public corporates & bank loans (6.4%), and emerging market securities (2.0%).

2 Affiliates and subsidiaries includes $957 million in affiliates classified as LLCs on the annual statement that are not private equity.

3 Public equity excludes bond & cash mutual funds and is hedged to protect Guardian’s capital from market volatility.

4 Total Bonds includes public and private debt but excludes surplus note debentures classified as Schedule BA invested assets, commercial mortgages and preferred stock.

Financial information concerning Guardian as of December 31, 2022, on a statutory basis: Admitted Assets = $76.0 billion; liabilities = $67.2 billion (including $55.0 billion of reserves); and surplus = $8.8 billion.