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    Global 2018 Corporate Responsibility Report Impact


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    About MetLife MetLife Global Impact 2018 Corporate MetLife, Inc., through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, Responsibility Report providing insurance, annuities, employee benefits and asset management to help individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United | Letter from the Chairman, President and CEO 2 States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com. | Our Corporate Responsibility Strategy 3 Selected Awards and Recognition | 2018 Highlights 4 | Investing in Society 6 | Ensuring Sound Governance and Risk Management 12 2018 Dow Jones 2018 Bloomberg Top 100 Most JUST World’s Most Admired Sustainability Index Gender-Equality Index Companies Companies JUST Capital FORTUNE1 | Delivering for Our Customers 16 | Investing in Our Employees 24 | Protecting the Environment 30 Best Places to Work for 100 Best Companies Best Places to Work for Top 100 Innovators Disability Inclusion Working Mother LGBT Equality in Diversity & Inclusion U.S. Business Leadership Human Rights Campaign Mogul Network & American Association | MetLife Foundation: Building Financial Health for All 34 of People with Disabilities | Our Global Impact Goals 40 | Performance Data 42 Top 50 Companies Military Friendly Employer Military Friendly Spouses Best Adoption-Friendly for Executive Women G.I. Jobs Employer Workplaces National Association G.I. Jobs Dave Thomas Foundation | Aligning with the Sustainable Development Goals 47 for Female Executives To learn more about our business, visit www.metlife.com. 1 From FORTUNE Magazine, February 1, 2019. ©2019 Time Inc. FORTUNE and The World’s Most To view our progress against our Global Impact Goals, see the Admired Companies are registered trademarks of Time Inc. and are used under license. FORTUNE and Time Inc. are not affiliated with, and do not endorse products or services of, MetLife. goals summary on page 41.


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    2 MetLife 2018 CR Report | Our Corporate Responsibility Strategy 3 Letter from the Chairman, President and CEO Making a Global Impact: Our Corporate Responsibility Strategy 2018 was a pivotal year for MetLife. We made significant progress on our enterprise At MetLife, we see our role as building a more protected world in a time of unprecedented change. The strategy, including completing the final leg of the spinoff of our U.S. retail business. The U.S. company’s commitment to corporate responsibility is integral to this core business purpose. We deliver on this government dropped its appeal of our U.S. District Court victory rescinding our designation commitment in many ways: through the security we provide customers, the claims we pay during their times of as a systemically important financial institution. And we celebrated MetLife’s 150th need, our activities in the communities that we serve, and long-term investments in the broader economy. Our anniversary, a milestone very few companies achieve. It is the very nature of our business to goal is to responsibly deliver long-term value for all stakeholders as we navigate life together. invest for the long term so that we can keep our promises for generations to come. When I reflect on MetLife’s history and my time as Chairman, President and CEO, I am MetLife’s Chairman, President and CEO Steve Kandarian meets proud of the positive impact MetLife makes on the world. We have long been a leader with employees at MetLife’s in corporate social responsibility, but we do not rest on our laurels. In 2018, we formed a For our communities For our shareholders For our business Global Technology Center in new sustainability function to ensure we have a strategic and coordinated approach in We invest for the We create value and We foster a culture of Cary, North Carolina. this critical area. long term so that we deliver fair returns over ethics, integrity and We also announced our decision to separate the roles of Chief Executive Officer and Chairman of the Board, which we believe will best serve the interests of the company Delivering can deliver on our promises to customers the long term. risk management to underpin our company’s and its stakeholders. Value while helping to grow the global economy. role as building a more protected world, with all employees Our other notable achievements during the year included: for All taking ownership for managing risk. • We paid approximately $48 billion in claims and benefits to policyholders, demonstrating the vital role we play in the social safety net. • We committed nearly $4 billion to Responsible Investments1,2 in the United States such as impact and affordable housing, green energy, infrastructure, and municipal bonds,3 and more than $3 billion to Responsible Investments1 in other countries. For customers For employees For the environment For the underserved • MetLife Foundation fulfilled its five-year commitment to provide $200 million in grants We listen closely and We help our global team We are committed to We strive to improve shape our products and in more than 40 countries promoting a healthy financial health to improve financial inclusion worldwide, and expanded its focus to financial health. services to fulfill varied grow and thrive by planet for generations worldwide. MetLife and • We were named to the Dow Jones Sustainability Index (North America) for the third customer needs and providing training and to come by reducing MetLife Foundation year in a row. meet their changing development, supporting our environmental provided $44 million expectations. health and wellness and footprint. in grants in 2018, • We were named among America’s 100 Most JUST Companies by JUST Capital and promoting diversity including $29 million Forbes for the first time. and inclusion. A leading for financial health. provider of employee It has been an honor for me to lead this company. At MetLife, we not only have a great benefits globally, history. We are a company that will create significant value for decades to come — for we protect our own our customers, employees, shareholders and the world at large. employees’ futures by offering comprehensive benefits. Steven A. Kandarian Chairman, President and Chief Executive Officer MetLife, Inc. Prioritizing Material Issues MetLife uses materiality to align Global Impact priorities with the most important issues for the company and key stakeholders. We last updated our materiality analysis in 2017. This process drew on a survey of MetLife employees and managers, as well as external stakeholder perspectives. Based on the findings, we align our corporate It is the very nature of our business to create value for the world at large. We are a vital part of the responsibility performance metrics and reporting disclosures with the following material issues: social safety net, paying $48 billion in claims and benefits. We are an engine of economic growth, with MetLife Investment Management (“MIM”) Total Assets Under Management1 of $588.7 billion at December 31, 2018, that includes investments in agriculture, infrastructure, and businesses of all sizes. Financial Risk Information security Customer Employee Product performance management and privacy experience experience accessibility 1 At estimated fair value. See Explanatory Note for non-GAAP financial information, definitions and reconciliations. 2 In 2018, we changed the name of MIM’s responsible investment strategy investments to Responsible Investments from Impact Investments used in earlier years to align with the Global Impact Investing Network (GIIN) terminology. 3 See page 43 for a description of Municipal Bonds.


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    4 5 2018 Global Impact Highlights Investing in Society Protecting the Environment 1 • Increased Responsible Investments to more than $52 billion, representing • Joined the Climate Leadership Council as a more than 8 percent of Total Assets Under Management2 at the end of 2018 founding member. This coalition of businesses, • Joined the Global Impact Investing Network (GIIN) NGOs and prominent individuals promotes a steadily increasing price on carbon to help • MetLife Investment Management (MIM) signed onto Principles for address climate change Responsible Investment (PRI) as an investment manager and formed a cross functional Environmental, Social, Governance (ESG) Integration Council • Mobilized 10,000+ employees in almost 30 countries to promote responsible environmental stewardship through MetLife’s Our Green Ensuring Sound Governance and Risk Management Impact program • Announced that MetLife will separate the CEO and Chairman roles in 2019 • Drove green and healthy building best to promote board independence practices, achieving three new LEED • Enhanced our focus on operational risk by expanding the Enterprise certifications Risk Committee (ERC) — which identifies and mitigates all material risks to MetLife — to include senior leadership from all business units, including MetLife Foundation: Global Technology & Operations Building Financial Health for All • Updated our enterprise risk appetite statements • Fulfilled our five-year commitment to provide • Trained senior leaders and piloted a course for new employees on managing $200 million in global financial inclusion grants risk, building an ownership mindset and speaking up • Contributed $44 million to improve financial health and build stronger communities through Delivering for Our Customers MetLife Foundation, MetLife, Fundación MetLife • Launched 360Health, providing customers with end-to-end health solutions México and MetLife Foundation Korea to help them prevent, diagnose, treat and manage serious health conditions • Empowered MetLife employees to volunteer • ® Launched PlanSmart Financial Wellness, a step-by-step personalized more than 99,000 hours to organizations that approach to financial wellness that provides consumers with education improve lives — 40 percent of these hours and guidance online, in person and over the phone to help them achieve supported financial health efforts individual goals • Deployed mobile apps that enable people to submit insurance claims by smartphone Investing in Our Employees • Committed to increase MetLife’s minimum wage level, establish a minimum life insurance benefit, and set a minimum credit of $3600 annually to the company pension plan • Announced a $10 million Workforce of the Future Development Fund to deliver learning programs focused on digital skills, innovation and collaboration 1 At estimated fair value. See Explanatory Note for non-GAAP financial information, definitions and reconciliations. • Updated the MyLearning platform, our online knowledge and skills 2 See Explanatory Note for non-GAAP financial information, development curriculum offering employees a personalized learning pathway definitions and reconciliations.


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    6 MetLife 2018 CR Report | Investing in Society 7 Investing in Managing the Capital Entrusted to Us MetLife’s priority is to run a financially sound, sustainable company to the benefit of its stakeholders and wider society. Our institutional asset management business, MIM, draws on The nature of our business Society more than 150 years of experience to build for tomorrow. MIM pursues diversified investment strategies designed to navigate economic and market uncertainty and position the creates company to capitalize on emerging opportunities. MIM’s far-reaching Total Assets Under Management1 (see table on page 8) is sizable and provides breadth and depth across asset sectors social value. and markets. MIM employs more than 900 investment In 2018, MIM invested For more than 150 years, we have worked to build professionals across the globe. We are focused on looking more than $7 billion to ahead and positioning our global portfolio for the future a more protected world by providing services and while striving to take advantage of today’s opportunities. help finance projects products that help our customers meet their financial that multiply our As one of the world’s largest institutional investment contribution to social needs and live fuller, more secure lives. managers, MIM drives economic growth and jobs by and environmental investing in agriculture, infrastructure, real estate and a benefits. wide variety of businesses. At December 31, 2018, MIM’s Through other direct and indirect economic activities, Responsible Investments2 portfolio, a subset of MIM’s Total including investments, job creation, benefit payouts and Assets Under Management,1 totaled more than $52 billion. tax payments, MetLife also positively impacts millions of individuals and helps grow local economies. Putting our customers first means Putting our customers first means making sure we making sure we can deliver on policies can deliver on our promises several decades into the several decades into the future. future. We therefore seek out diverse, stable and secure investments that offer competitive, risk-adjusted returns — a strategy that exemplifies our responsible Investment Fundamentals approach to managing our entire business. Global platform Research-based approach Risk management focus Our global reach, financial strength, sizable investment portfolio and research-based approach combine to enable our customers and company to thrive. We employ a robust risk management culture, and within Global Impact Goals: MIM, we carefully assess the risks and benefits Responsible Investments presented by each investment, including relevant Environmental, Social and Governance (ESG) risks Goals Progress and opportunities. Expand our responsible investment efforts by forming a Sustainable Investment Strategies group by Achieved the end of 2018. In 2019, MIM signed on to the Principles for Responsible Investing (PRI) as an investment manager. Achieved In 2019, MIM established an ESG Integration Council to communicate and socialize ESG policies and Achieved practices and facilitate best practices across teams and functions. 1 See Explanatory Note for non-GAAP financial information, definitions and reconciliations. 2 At estimated fair value. See Explanatory Note for non-GAAP financial information, definitions and reconciliations.


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    8 MetLife 2018 CR Report | Investing in Society 9 MetLife Investment Management: Total Assets Under Management1 Investing Responsibly Through ESG Integration at December 31, 2018 We pursue investment practices that support a better world, reflecting our values and those of our stakeholders. Our responsible investment Sharing strategy incorporates a full picture of both relevant ESG risks and opportunities into decision making across our portfolio. This enables Insights: Ride Total Assets Under Management1 Third-Party Assets Under Management4 us to invest in ways that support sustainable long-term returns while contributing to social and environmental benefits. Sharing and the Future of Third-Party AUM by Client Type Reducing ESG Risk By Asset Type $588.7 Billion We apply an ESG lens across the MIM-managed portfolio in order Real Estate $156.1 Billion to invest in companies whose practices reflect our values. MIM’s In 2018, MIM published Public Corporates $122.8 investment methodology is based on a disciplined in-house research a groundbreaking Insurance/Financial $109.8 Mortgage Loans $95.1 and underwriting process that leverages the expertise of our seasoned report that explores $16.7 investment teams. Our new Sustainable Investments Strategies group Corporate how advances in Structured Finance $72.0 will strengthen MIM’s ESG platform and build support for a deeper Sub-Advisory $16.4 understanding and consideration of ESG principles across MIM. transportation — Foreign Government $57.3 including ridesharing Public $8.3 services, self-driving U.S. Government and Agency $57.0 cars, and electric Commingled Fund5 $3.7 vehicles — shape public Private Corporates $51.6 Other6 $1.2 transportation behavior and real estate building Cash and Short-Term Investments2 $24.6 At December 31, 2018, MIM managed choices. Developed Real Estate Equity $21.4 Responsible Investments7 totaling over with MetLife’s Mandates Global Technology Private Infrastructure $19.0 by Client 7% $52 billion — encompassing renewable & Operations data Municipals3 $16.3 Type 5% 25% energy projects, infrastructure, municipal analytics team, the bonds,3 and impact investments and report, On The Road Common and Preferred Equity $15.7 Again, provides 18% 264 affordable housing. data-rich insights on Emerging Markets Debt $11.3 Mandates real estate investment High Yield $9.7 risks and opportunities. Alternatives $8.7 25% 20% Bank Loans $6.2 Our Three-Step ESG Investment Process We begin every investment opportunity with fundamental research to assess Research financial risk, which includes sector-specific ESG considerations. Evaluation of relevant ESG factors in our screening process is essential in evaluating 1 At estimated fair value. Amounts in billions. See Explanatory Note for non-GAAP financial information, definitions and/or reconciliations. Manage new transactions, and we periodically review existing investments to ensure that they remain within our ESG parameters. 2 Includes cash equivalents. 3 See page 43 for a description of Municipals. 4 At estimated fair value (amounts in billions). 5 Includes limited partnerships, collective trusts, mutual funds registered under the Investment Company Act and pools made available to qualifying investors. We aim to engage in frequent dialogue with our investees’ senior management 6 Includes non-profit clients, Taft-Hartley pension fund clients and asset manager clients. Engage to understand their strategic priorities and day-to-day practices, with the goal of ensuring that their goals and activities remain aligned with our ESG principles. 7 At estimated fair value. See Explanatory Note for non-GAAP financial information, definitions and reconciliations.


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    10 MetLife 2018 CR Report | Investing in Society 11 Pursuing Responsible Investments3 As investor interest in ESG issues accelerates worldwide, evidence is mounting that incorporating these factors into investment decision-making can positively support portfolio performance and returns. MIM has a long history of 10% We also strive responsible and impact investing, with a focus on four core areas: to support financial Green Investments Impact and Affordable MIM Responsible Investments services firms We have a long track record of support for green buildings and Housing Investments1 Committed in 20183 that embrace renewable energy projects, including We invest in impact and affordable, high-quality housing projects that diversity. wind and solar. At December 31, In 2018, we conducted build financial health and bring 2018, we held equity stakes in 60 tangible benefits to communities. over $2 billion in LEED-certified real estate properties In 2018, we increased the supply of business with capital and made further investments in loans to micro-, small- and medium- markets firms owned renewable offshore wind projects sized businesses in unbanked and 9% by, or focused on in the U.K. underserved markets globally. employing, minority executives, women $16.6B $2.6B Investments Investments 15% held at held at and disabled veterans. Dec. 31, 2018: Dec. 31, 2018: 57% 19% 2 Infrastructure Municipal Bonds Investments Investments We create local jobs and economic We support infrastructure, education benefits via infrastructure projects and community services, spanning that build or upgrade airports, ports, around 400 municipalities in 47 roads, pipelines, transmission lines states and Washington D.C. In and power generation — including 2018, we invested in Pennsylvania’s wind and solar projects. In 2018, we Planning and Construction Workbook also invested in U.S. not-for-profit program, which facilitates loans to Infrastructure: $4.1 Billion hospitals and healthcare facilities in school districts for eligible school underserved communities. construction projects. Municipal Bonds:2 $1.4 Billion Green Investments: $1.1 Billion $17.1B $16.3B Investments Investments held at held at Dec. 31, 2018: Dec. 31, 2018: Impact and Affordable Housing Investments: $0.7 Billion 1 Previously referred to as “Community and Affordable Housing Investments”. In 2018, updated to “Impact and Affordable Housing Investments” to 3 Previously referred to as “Impact Investments.” In 2018, updated to “Responsible Investments” to better align with the GIIN definition. better align with the Global Impact Investing Network (GIIN) definition. 2 See page 43 for a description of Municipal Bonds.


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    12 MetLife 2018 CR Report | Ensuring Sound Governance and Risk Management 13 Ensuring Sound Identifying and Managing Risk Our risk management framework is designed to address any and all material financial and MetLife nonfinancial risks to our business. To build a Code of Conduct Governance and company equipped to thrive in a variety of environments, we identify emerging risks from MetLife’s Code of Conduct the ground floor to the boardroom. Employees at defines our expectations for all levels, and in all departments, are responsible for managing risk, and each business unit must appropriate business conduct, Risk Management identify emerging potential threats to its operations. legal compliance and ethical Company-wide, our Board and senior management decision-making by our people. team provide oversight and assess emerging Available in 21 languages, the challenges for our fast-changing industry. Code applies worldwide and MetLife embeds risk management programs and includes specific ethical guidance practices in all business and strategic decision- for personnel engaged in financial making. Our dedicated risk management team is Risk management, ethics and integrity underpin our led by the Chief Risk Officer, who is independent management. Each year, all company’s role as building a more protected world. of our business units and joined MetLife’s Executive employees must pledge that they Group in 2017. In 2018, we stepped up our focus commit to and comply with its We apply comprehensive controls to ensure sound provisions. Our Directors are also on operational risk management by strengthening governance across our global business operations. key risk committees. Measures included expanding required to follow MetLife’s Code We have worked hard to instill a culture where every the Enterprise Risk Committee (ERC) to include of Conduct. senior leadership from all financial and nonfinancial employee takes responsibility for reducing risk and business units, including our Technology & MetLife empowers employees adopts an ownership mindset where they have a personal Operations group. The ERC identifies, measures and to report ethical concerns and mitigates all material risks to the company. misconduct confidentially via stake in our company’s success. (Read more on “Building multiple channels. Code violations an Ownership Mindset” on page 15). may result in disciplinary action. MetLife protects its customers, investors and other stakeholders by employing tried and tested processes designed to identify and manage all risks the company faces, including those related to ESG issues. Sound governance and robust risk management are critical to the operation of financial services companies and we continually review and improve our practices. In 2018 we introduced new enterprise metrics on current and emerging risks and enhanced product oversight reporting across the company. We also announced that MetLife will separate the CEO and Chairman roles in Global Impact Goals: 2019 to promote board independence. Risk Management and Ethics Goals Progress Ensure a strong risk management culture. On Target Manage risks within our approved risk appetite statements (RAS). On Target


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    14 MetLife 2018 CR Report | Ensuring Sound Governance and Risk Management 15 MetLife Three Lines of Defense Model Fostering Ethical Culture MetLife uses a robust day-to-day risk management approach — Every employee across the 40-plus countries in which we the Three Lines of Defense — which assists us in delivering on operate is responsible for acting in the best interests of our Building an our promises to customers, employees and stakeholders. customers, employees and shareholders. To reinforce this mindset, we create an environment where everyone feels Ownership Governance a sense of ownership in the company and is respected and valued. This tone and behavior begins with our CEO and carries Mindset through to direct supervisors. We encourage employees to In 2018, we held a Senior MetLife Management share their feedback, concerns or questions through our global day-long, in-person hotlines or with their managers. training on building Executive Team In 2018, we continued to invest heavily in employee training an ownership mindset programs on ethical business practices and security. The for 150 senior leaders. following trainings are mandatory for all employees, with senior We also piloted online st rd 1 Line of Defense 2 nd Line of Defense 3 Line of Defense management tracking the results. 1. Anti-Money Laundering: How to detect, prevent and report suspicious activity. 2. Code of Conduct: Overview course on our binding code of training for employees on why creating an ownership culture matters that will Business Management, conduct and the laws that regulate our business. Mandatory be rolled out to all GRM, Compliance, IT Risk Enterprise Internal Audit Corporate Partners for new hires. employees in 2019. Primary Responsibility & Oversight & Advisory Independent Assurance 3. Information Lifecycle Management: Refresher on properly Accountability managing potentially sensitive records, including invoices, Advises Business Validates Control Health Owns Risk Control Environment Independent Monitoring Provides Objective Opinion email and database files. Identifies, Measures & Mitigates Risk 4. Mobile Security: How to keep mobile devices secure and protect information when using them at work. 5. Social Media Security: Overview of our policy on using social media websites and apps at work. Protecting the Privacy of Our Customers 6. Three Lines of Defense: Overview of our risk management Equipping As privacy regulations, technology and markets all rapidly evolve, we system, required for new hires. Employees to know that our customers and employees rely on us to protect their personal information. Our Global Privacy Policy builds confidence and More Information Promote Data trust in the company, establishing controls that mitigate risk to our own For more on our corporate governance policies and related guidelines and activity, please visit the MetLife website, or operations and to third parties that handle customer information for us. It Privacy requires each business unit to maintain strict controls over the collection, follow the links below. In February 2018, our use and protection of all personal information, including through: • Corporate Governance global privacy team • Privacy notices, consents and individual rights • Political Activities Report distributed a new hands- • Information security safeguards • Customer Privacy Guidelines on Privacy Behavior • Third-party risk management • Code of Conduct Toolkit to reinforce guidance in our Code of • Cross-border data transfers • Ethics and Fraud HelpLine Conduct. Using posters, • Employee training and awareness-raising discussion cards and MetLife takes continual, proactive measures to protect all data and keep other tools, the campaign up with an evolving regulatory landscape. Against a backdrop of rising encourages business cybersecurity risks, our global privacy team also works hand in hand operations across the with our information technology risk and security program. In 2018, we company to act ethically launched mandatory privacy training for all employees, reviewed our and with due care cybersecurity incident response plans, enhanced our oversight of third when processing parties processing personal information and expanded our privacy risk personal information. analysis program. In addition, we continue taking action to comply with emerging privacy regulations in all jurisdictions where we operate.


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    16 MetLife 2018 CR Report | Delivering for Our Customers 17 Delivering for Listening to Create a Better Customer Experience In 2018, we expanded our new product development process globally, enabling us to Our Customers create products, services and experiences that are simpler, smarter and better meet the needs of customers. The new approach prioritizes deep customer understanding and combines customer insights with strong market testing to create comprehensive solutions that cater to customers changing needs. In addition to deepening our relationship with customers, we Every day, we uncover new ways to put the customer believe this strategy will reduce risk, lower costs at the heart of everything we do. We embrace and drive greater value for our stakeholders. Reducing Anxiety About innovation in every aspect of our business to give Retirement in Japan Human-Centered Solutions customers what they want, when they want it, through Everyone at MetLife is responsible for delivering MetLife Japan’s bold mission, #Change Rougo the platform of their choice. We are also establishing the right solutions to the right customers, engages with deeply held attitudes in and we use tools to help employees do so Japanese society to address negative new partnerships, digitizing our business and as they develop new products, services and impressions of “rougo”, or life after retirement. expanding access to our products. experiences. These include Customer Journey Based on extensive research that revealed Mapping, which helps our teams better rising anxiety among many Japanese about understand the moments that matter most to growing old and quality of life after work, To understand our customers holistically, we are our customers, and Design Thinking, which MetLife is positioning itself as a thought facilitates customer-centered solutions. leader on solutions that can help people better improving how we gather insights to develop new navigate retirement. Here’s how: Our goal with all these efforts is to deliver products and how we deliver customer service. simple, relevant and valuable solutions and • Conducted #Change Rougo survey across experiences to our customers across the globe. Japan’s 47 prefectures gauging people’s Often, this involves technology, for example by perceptions and concerns around health, In particular, our transformative investment in data enabling customers to make quick insurance wealth and aging, which led to community analytics and a digital customer experience allows us claims via mobile apps. At the same time, seminars in seven major cities to discuss nothing can replace the one-on-one support and issues identified. to develop better solutions and do more for people in expertise our frontline employees provide for • Partnered with the Economist Intelligence every region of the world — faster, simpler and more customers enduring a crisis (see page 22). Unit on a study that uncovered major gaps easily. As we reposition our business for a rapidly We measure how well we meet customer needs in public knowledge around aging, health by using net promoter scores (NPS), and we are and retirement in Japan and across Asia. changing world, our goal remains to be a trusted establishing NPS at the highest level for MetLife partner that adapts to customers’ lifelong needs, • Hosted forums on retirement that brought as our gold standard for measuring success. together people from government, business, always with their best interests at heart. academia and the health sector, including patient groups. Global Impact Goals: Customers Goals Progress Continue to measure customer loyalty through Net Promoter Score (NPS) programs. On Target Continue to standardize our product development process and improve “experience design” On Target to deliver the best possible end-to-end customer solutions.


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    18 MetLife 2018 CR Report | Delivering for Our Customers 19 Innovative Delivering Holistic Healthcare in Asia Apps Enhance Our job, as protectors and partners in navigating life’s twists and turns, is to support our customers with the Mobile solutions that help them live better, longer. In Asia, MetLife has created 360Health, a combination of insurance and health services, to directly Experience address customer concerns about serious illness. The holistic program offers medically endorsed, In 2018, MetLife end-to-end solutions to help people increase their “healthspan” (the number of healthy years in their deployed mobile apps in overall lifespan). Customers receive health education, access to the latest prevention and diagnostic tools and local specialists, and the support needed throughout their health journey. China is the first of Egypt, Chile, Brazil and MetLife’s Asian markets to launch 360Health. Its offerings include overseas health checks and services Japan that allow people that pair doctors in China and the U.S. to offer real-time co-diagnosis and treatment plans. to submit insurance claims via their phone. In a preliminary customer survey, a majority of users highly rated their experience and round-the-clock access. Helping People Improve Their Financial Wellness Personal finances are the top cause of stress among employees and they are looking to their employers for help. As the leading provider of employee benefits and retirement income solutions in the U.S., MetLife has offered workplace financial planning programs to our clients for nearly 20 years. In 2018, we built on our long-running PlanSmart offering with an expanded solution, PlanSmart® Financial Protection that Adapts to Your Needs in Mexico Wellness. This holistic and multichannel platform focuses on behavioral change, offering tools, expert In Mexico, we offer public sector employees, as well as employees of our corporate clients, a flexible guidance and integrates workplace voluntary life insurance program known as Met99, with more than 20 product features available. Our customers benefits so employees can take control over their combine these in the way that best suits their needs and budget, changing the plan over time as they age short- and long-term financial goals and achieve and their family and work circumstances evolve. At any point in time, they can choose the protection they financial wellness. need and make it fit their monthly budget.


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    20 MetLife 2018 CR Report | Delivering for Our Customers 21 Working with Tech Companies and Startups We are investing in innovation, partnering with startups and digitizing our business to better serve our customers in a changing world. As we embrace new opportunities, we draw on innovative ideas and new technologies beyond our company and industry. Harnessing Software Around the world, we partner with tech firms that can help us improve digital solutions to Improve Customer to make things easier for customers. To accelerate innovation, we work with venture Satisfaction capital firms and leading universities, including most recently the MIT Media Lab. Our new strategic investment programs, MetLife Digital Ventures and MetLife When our customers call us, they Digital Accelerator, powered by Techstars, support startup companies in bringing want a helpful, knowledgeable groundbreaking technologies to market. and empathetic partner. To help deliver the best possible service, we are deploying an emotional intelligence software platform that provides our phone agents with cues to customers’ state of mind, allowing them to tailor the Investing in Tech to Make Life Easier conversation to individual needs. Thanks to this virtual assistant, for Customers customer satisfaction has risen in pilot areas. In fall 2018, 10 tech startups from around the world took part in the inaugural 13-week program run by MetLife Digital Accelerator power by Techstars, which aims to fast track technologies with the potential to disrupt the insurance industry. Based at our Global Technology Campus in Cary, North Carolina, the program connected startups with MetLife leaders and mentors. Innovative products being developed by these companies include a digital platform to connect parents of autistic children to support, and on-demand accident insurance models. MetLife is currently exploring pilots with five of these startups. Also in 2018, MetLife Digital Ventures made its first investment, backing Enigma, a data-as-a-service startup that will generate fresh insights for MetLife in the health insurance field. Launched in 2017, MetLife Digital Ventures is a $100 million direct investment fund designed to take our collaboration with 16 leading venture capital firms to the next level.


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    22 MetLife 2018 CR Report | Delivering for Our Customers 23 Being There Supporting Hurricane Victims Sharing Our Insights in Moments When Hurricanes Florence and Michael battered the In an effort to identify and develop solutions that meet consumers’ needs, MetLife conducts and That Matter Carolinas and Florida in fall 2018, MetLife was there. publishes thought leadership studies on critical We immediately deployed our catastrophe response issues. By sharing our research, we seek to drive MetLife is in the business of vehicles and field operations teams to support dialogue and identify effective solutions for a building trust and sustaining customers dealing with damaged homes and vehicles, rapidly changing workplace and workforce. human relationships over providing water, power sources and real-time help the long term. Customers with claims. We also created dedicated web pages Prominent research findings in 2018 included: expect they will feel pointing residents to emergency resources and contact • The Small Business Index, MetLife’s quarterly supported, especially when information for assistance. Our regional and local crisis research project with the U.S. Chamber of they need it most. Whatever management teams worked tirelessly to keep our Commerce, takes the pulse of small business. employees well informed, our buildings safe and our It goes beyond similar studies by asking the circumstances — systems operational. thousands of small business owners and from managing insurance managers about the challenges they face. payouts to supporting MetLife’s catastrophe response vehicle From access to capital to the adoption of property repairs in the wake technology to measuring the hours that owners of a natural disaster — our spend working each day, the Index uncovers frontline employees support important trends. Its publication provides the and guide our customers media and policymakers with data they can through life’s critical highlight and use to help better the operating moments. conditions for U.S. small businesses. • MetLife’s Role of the Company Survey In every circumstance, we found that employees want companies to work to get settlements take an active role in addressing societal to customers as quickly as issues, even when those issues aren’t central possible. For example, in the to the company’s business. When the values case of a house fire, theft of employees and employers align, job or other property loss, we satisfaction, retention and loyalty all increase often issue prepaid cards dramatically, the survey showed. for claims at the time of inspection to help families get right back on their feet. When an emergency strikes an entire community or region, we escalate our response accordingly, deploying our frontline catastrophe response teams to provide 24/7 help as needed.


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    24 MetLife 2018 CR Report | Investing in Our Employees 25 Investing Preparing Our Workforce for the Future As our industry and company evolve, we are taking steps to equip our workforce for future success. Our goal is to build an organization of Investing world-class talent with a full pipeline of future leaders who offer diverse $10 Million in Our capabilities, backgrounds, perspectives and experiences. Given the pace of change in technology, automation and skills requirements, to Build it is essential to ready our business and employees to adjust. We do this through our Workforce of the Future initiative (see box), a broad array of Tomorrow’s Workforce Employees talent and capability building programs offered to all employees. Empowering Employees to Deliver for Our Customers In February 2018, In 2018, we continued to empower employees to deliver on our strategy MetLife’s CEO and be trusted partners for our customers. Part of our Workforce of the announced a $10 Future initiative, the new MyLearning platform empowers employees to million Workforce proactively take charge of their careers. A digital gateway, powered by artificial of the Future intelligence, is available in all languages. The site enables employees to tap into Development Fund. To build our business and a more protected world, learning on demand, via any device and a personalized feed, including articles, Starting in 2019, new we must put our employees’ success and wellbeing videos and instructor-led courses. Programs in 2018 included: learning programs at the heart of everything we do. • Leadership training: More than 6,600 employees took courses focusing will focus on areas on management and leadership topics. including digital • Employee training: More than 48,000 employees took over 4,900 different skills, innovation and We are equipping our workforce for the industry’s non-mandatory courses related to their jobs. collaboration. The future, helping employees gain the skills to goal is to create a compete in the digital workplace and investing culture where continual in their development and financial security. Enhancing Employee Benefits learning is in the DNA Building trust with our employees and creating a positive impact on their lives of our daily work life. is integral to our values and critical to our success. Drawing on our expertise in We also foster an ownership mindset where workforce financial wellness, we help our own employees create a solid financial foundation by providing comprehensive and affordable health, retirement, life employees embrace the company’s values and and other insurance benefits. In 2018, MetLife’s CEO announced plans to: believe they have a personal stake in its success. Increase the Establish a Set a minimum Extend MetLife strives for a workplace culture where our company’s minimum minimum life insurance benefit contribution to the company’s company- paid legal employees feel engaged, motivated and inspired wage level regardless of an defined benefit services to all employee’s pay pension plan employees each day. We listen and respond to their ideas and needs, invest broadly in employee development These benefits are for U.S. employees. We offer non-U.S. employees competitive benefit packages that complement and benefits, and cultivate a diverse, inclusive and existing social insurance and benefits offered in each region. collaborative place to work. Global Impact Goals: Employees Goals Progress Create a culture of health, with wellness programming in every country. On Target Ensure all MetLife employees are thinking about their health and have access to plans and programs. On Target Cultivate a diverse and inclusive culture that values the uniqueness of our employees and promotes On Target belonging so that they can thrive and contribute to their full potential.


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    26 MetLife 2018 CR Report | Investing in Our Employees 27 Promoting Health Fostering Diversity and Inclusion and Wellness Builds a Stronger Company MetLife is committed to supporting Healthy Workplace MetLife’s diverse, global community of employees brings fresh perspectives, strategic thinking, employee needs and interests — first and Seal of Approval innovation and agile problem solving to the table. Together, their varied backgrounds and foremost, staying healthy in mind and experiences better equip us to understand global markets and create strong relationships in very body. We also organize free activities that Furthering our commitment to wellness in the different regions of the world. encourage good health and well-being. In workplace, we are implementing best-in-class April 2018, we launched our first annual design and services across our facilities, using Building on this strong foundation, in 2018, we continued to implement a three-pronged global “Wellness for Life Week” initiative with the Fitwel global health certification system diversity and inclusion (D&I) strategy adapted to fit regional needs: employees in more than 20 countries for buildings. Our buildings’ healthy amenities taking part. Group activities included include ergonomic seating, sit-stand desks, bike fitness programs, community service storage and wellness rooms. As a member of projects, healthy eating events and Fitwel’s Leadership Advisory Board, MetLife is Developing Ensuring a diverse employees have mindfulness trainings. Throughout the helping drive wellness and productivity building Identifying workforce meaningful year, employees joined more than 500 management best practices across the real top diverse and inclusive work and deliver wellness activities and events through our talent estate industry. policies and high business Wellness for Life program. practices performance Our New York City headquarters features a “mindfulness lab,” Listening to Employees filled with plants and calming music, to help employees recharge. Our Global Diversity and Inclusion Council, chaired by MetLife’s CEO, advises on the strategy, We view organizational health, like and four regional, cross-business D&I task force teams, chaired by senior leaders, drive programs personal health, as a top priority. In our and initiatives at the local level. To ensure progress, we survey employees on our efforts and effort to constantly improve, we survey conduct peer benchmarking research. employees globally on our desirability as an employer and the changes they would like to see. We act on the results Our 2018 Priorities as part of our strategic vision to build a • Supporting our workforce: We want all employees to thrive and feel they belong, every day. Our more human company for employees and Diversity Business Resource Networks foster an inclusive environment by offering peer support customers alike. and career development for women, veterans, people with different abilities, LGBTQ individuals, working families and multicultural and young professionals. Read more here on our diversity and Expanding Employee Feedback inclusion programs and initiatives. Over the past two years, we have • Inclusive behaviors: To support a welcoming environment, we invest in educational tools and introduced employee focus groups, resources that encourage inclusive behaviors by our leaders and employees. crowdsourcing campaigns, internal social media discussions with leaders • Leadership and future pipeline: Our focus on developing a diverse leadership pipeline involves and regional listening tours to encourage ensuring diversity on all succession plans and actively identifying and providing development employee feedback. In late 2018, we also opportunities for women and diverse populations. We strive to increase representation in conducted a new MyVoice poll among leadership roles and are committed to pay equity at all levels. See our pay equity statement here. all employees globally. This consolidated • D&I in the digital world: We seek to harness emerging technologies to meet the needs of all our snapshot will allow us to deliver employees. At the same time, we monitor the potential for bias in an increasingly digitized workplace. employee feedback to company leaders more efficiently, so we can quickly identify and act on improvements. More than 75 percent of employees responded to the survey, providing more than 100,000 comments. MetLife Named Top 100 D&I Innovator Mogul, a social enterprise providing free educational resources to women worldwide, included MetLife in its 2018 Top 100 Innovators in Diversity & Inclusion rankings. The callout cited our commitment to advancing gender equality in the workplace. For a full list of 2018 awards, see inside front cover.


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    28 MetLife 2018 CR Report | Investing in Our Employees 29 Supporting Diversity Across Our Supply Chain MetLife’s commitment to diversity extends across the global supply chain. Global Our Supplier Inclusion and Development program is integral to our business strategy, driving innovation in our supply chain and providing mentorship Inclusion that expands our pool of qualified suppliers. These include firms that are Week majority owned, operated and controlled by ethnic minorities, women, LGBTQ individuals, people with disabilities or veterans, as well as federally Our fifth annual D&I recognized small businesses as the business needs require. education activity, in June 2018, adopted Leading the Industry in Diverse Supplier Development the theme “Inclusion Since 2003, we have proactively partnered with qualified diverse suppliers, Begins with Me”. supporting their growth and wider communities as we navigate a changing world together. To level the playing field, we require our procurement Through interactive teams to include at least one diverse supplier in every request for proposal exercises, employees we issue when diverse suppliers are available to fill the business need. learned ways they can contribute to an inclusive In 2018, spending on diverse business workplace, such as valuing differences, partners represented 18.7 percent of total recognizing supplier spend. unconscious bias and showing up as an ally. Mentoring Diverse Business Owners and Young Entrepreneurs MetLife recognizes the success of diverse suppliers will come from a concerted effort to build capacity within their operations. We focus on the development of diverse suppliers through: • The MetLife Mentors program, which offers capacity building and peer-to-peer support • Sponsorship of diverse supplier leaders in executive management programs through the National Minority Supplier Development Council (NMSDC) and Women’s Business Enterprise National Council • Startup support for young minority business owners through the year-long Emerging Young Entrepreneurs coaching program, launched with NMSDC in 2016 Global Impact Goals: Supplier Inclusion Goals Progress Achieve 10 percent growth with diverse suppliers year-over-year Achieved through 2020. Strive to attain 100 percent of all sourcing initiatives to include a Achieved diverse supplier when practicable. Implement a diverse supplier mentorship program to achieve 15 On Target percent program growth by 2020. Inclusion Plus Summit


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    MetLife 2018 CR Report | Protecting the Environment 31 Protecting the Building on Carbon Neutrality with Energy and Climate Solutions Our sustainability journey has taught us that bold environmental goals drive MetLife innovation, ambition and effective solutions. In 2018, we maintained our carbon Joins Environment neutral status by continuing to improve operational efficiency and finance carbon offset projects around the world. We are on target to exceed our 2020 energy and climate goals by implementing energy efficiency projects and investing in green building design, sustainable behavior campaigns and real estate consolidation. Climate Leadership Council MetLife’s Global Sustainability Team, within Global Technology & Operations, In 2018, we became Building for tomorrow includes protecting the oversees environmental management, energy efficiency and performance, founding members environment and ensuring a healthy future for our including engaging employees and suppliers. Risk Management monitors potential of the Climate disruptions to our operations and supply chain from climate change, such as Leadership Council, employees, customers, communities and other natural disasters and health crises, while our business continuity, facilities and crisis a collaboration stakeholders. MetLife has a longstanding commitment management teams prepare for such eventualities. among policy, to environmental stewardship and we are proud to be Green Building Leadership business and the first U.S. insurer to achieve carbon neutrality. MetLife demonstrates leadership in this area by continually improving building environmental management systems and upgrading our facilities to drive efficiencies in energy, leaders to promote water and resource consumption. Since 2007, our U.S. energy consumption has an equitable, cost- From energy efficiency and green buildings to dropped by more than 30 percent; globally we have reduced energy use by 22 effective climate volunteer projects and responsible investments that percent since 2012. solution for the U.S. benefit the environment, we work to reduce our In 2018, we earned LEED Platinum certification (the U.S. Green Building Council’s economy. top designation) for our global headquarters in New York City and Investments footprint and build resiliency in a changing world. headquarters in New Jersey. We also earned LEED Gold in Tokyo. Common green building features included lighting automation technology, furniture made from high recycled content, low VOC building materials and high-efficiency plumbing. Continuous improvement is a mantra at MetLife. This Complementing these efforts, we are committed to healthy workplace design outlook guides our efforts to decrease our energy use across our global offices (see page 26). and greenhouse gas emissions through carbon reduction Carbon Offsets and Renewable Energy and operational efficiency programs, water reduction Some carbon emissions are unavoidable, however efficient our operations and vehicle fleet. To offset these GHGs, we support projects that reduce carbon and strategies, recycling and reuse efforts, and more. To drive generate renewable energy while empowering sustainable development around success, we set strong operational goals (see below) the world. Each carbon reduction project is third-party verified. Learn more here. and collaborate with our employees and supply chain business partners. Global Impact Goals: Environment Goals Progress Become carbon neutral in 2016 and going forward. Achieved By 2020, reduce global energy consumption by 10 percent.* On Target By 2020, reduce location-based carbon emissions by 10 percent.* On Target By 2020, require 100 of our top suppliers to disclose their greenhouse gas (GHG) emissions and On Target reduction activities. *Goals based on a 2012 baseline


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    32 MetLife 2018 CR Report | Protecting the Environment 33 Energy and Climate Action 2018: Empowering Employees to Make a Green Impact Thousands of MetLife employees take advantage of sustainability education and By the Numbers volunteering opportunities to reduce their environmental impact at work, at home Our Green and in their communities. These popular programs embody our philosophy of empowering employees to take ownership of the company’s actions and impacts. Impact 2018: The signature program, Our Green Impact, provides both hands-on community By the volunteering and online learning activities, including discussion forums, speaker Numbers % 50 15 100 series and newsletters. In 2018, more than 9,000 employees made a difference through the program. electric vehicle countries joined of eligible U.S. offices Green Teams Lead the Way 19 Green Teams in the United States, Asia Pacific and Latin America (up from 16 in 9,000+ charging stations Energy Action Month achieved ENERGY 2017) led office-based Our Green Impact activities during the year. Typical initiatives employees from at U.S. offices campaigns STAR ratings include energy conservation, recycling and alternative commuting. 30 offices in In addition, employees worldwide completed more than 5,000 hours of green service 11 countries joined in 2018. Activities in the United States included tree-planting at the Pennsylvania Earth Day activities memorial for 9/11 victims of Flight 93 and a collaboration with Dell in Cary, North 21 Carolina, to clear debris following Hurricane Florence. In India, employees planted 5,000+ 96 more than 2,000 trees at local schools, temples and office parks. EcoChallenge Changes Habits hours spent total LEED certified Our annual two-week EcoChallenge encourages employee teams to adopt green volunteering at suppliers engaged offices, including habits such as biking to work and eating locally sourced food — and then quantify Green Team events how their sustainable choices add up. In 2018, more than 2,000 participants in the CDP Supply 10 avoided generating almost 30,000 lbs. of carbon dioxide, saved 75,000 gallons of Chain Program LEED Platinum buildings water and kept 2,000 plastic cups and bottles from landfill. 2,000+ employees from 28 countries, in more In 2018, MetLife made the CDP’s Supplier than 200 teams, Engagement Leader Board. We received took up our annual EcoChallenge recognition for our 90+ percent supplier response rate and high level of collaboration with our business partners. Leveraging Purchasing Power for Positive Change We use our purchasing power to buy energy efficient and sustainably sourced goods, ranging from building materials to paper and electronics, and to encourage our suppliers to reduce their own impacts. A large share of our carbon footprint comes from our supply chain, and we partner with firms that operate responsibly to mitigate this impact. Our Supply Chain Sustainability Program embeds sustainability criteria in our ongoing procurement process, encourages continuous supplier improvement and incentivizes environmental stewardship and action to reduce GHG emissions. Influencing Suppliers to Embrace Sustainability and Transparency MetLife is on target to exceed our 2020 goal of requiring 100 of our top suppliers to reduce and report their environmental impact. In 2018, 96 critical and high-impact suppliers disclosed climate risks, GHG emissions and other environmental data to us through the CDP’s Supply Chain Program. Performance on the CDP Climate Change Questionnaire, along with other sustainability criteria, is incorporated into each supplier’s annual management scorecard.


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    MetLife 2018 CR Report | MetLife Foundation: Building Financial Health for All 35 MetLife A Commitment to Financial Health In 2018, MetLife Foundation realized its Financial Health... five-year goal to provide $200 million in grants Foundation: ...means being able to effectively to advance financial inclusion worldwide. Going forward, the Foundation will broaden its manage one’s household budget, focus to financial health, providing solutions recover from the unexpected to help lower-income people effectively and plan for the future. Building manage household budgets, recover from the unexpected and plan for the future. Financial MetLife Foundation Financial Health Commitments (2013-2018) Health for All Asia • $53 million committed MetLife Foundation enhances our company’s efforts United States Europe, Middle East and Africa • 54 partners to build for tomorrow and put people at the heart of • $79 million committed • $22 million committed • 70 partners • 28 partners our actions. In the belief that financial health belongs to everyone, Latin America • $37 million committed the Foundation combines financial health expertise • 41 partners and grants to bring solutions to underserved people and communities. An additional $9 million (5% of the total) was “global” and is not depicted regionally. Globally, the Foundation partners with grantees and MetLife volunteers to drive impact. From 2013 to 2017, these efforts have reached more than six million lower-income individuals in 42 countries, meeting people where they are every step of the way. MetLife Foundation Goals Goals Progress Commit $200 million over five years, starting in 2013, to ensure that more people across the globe Achieved have access to quality financial services. Support a culture of MetLife volunteerism with a 150,000-hour commitment to MetLife communities On Target over three years (through 2020).


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    36 MetLife 2018 CR Report | MetLife Foundation: Building Financial Health for All 37 Partnering with Financial Health Innovators Leading by Sharing Expertise MetLife Foundation collaborates with organizations to provide solutions that apply data-driven insights and digital Like the company, MetLife Foundation believes financial innovations to enable lower-income people to take control over their financial health. Hosting and convening health belongs to everyone. We share the lessons that our Scaling competitions is one way the Foundation identifies and supports effective partners and ventures. For example, grant partners have learned — both the positive and less Inclusion Plus, a global program of country-level competitions, identifies growing social ventures focused on so — to enable all involved in financial health to build on Financial financial health. In 2018, the Foundation partnered with Verb, a social innovation platform, to host competitions in Spain, Portugal, Australia, Korea and the United States. successes and avoid repeating work that lacks the impact we seek to support. Through media, white papers, articles and Health with events, the Foundation is proud to support our partners and Venture share knowledge. Capital Unlocking venture capital in underserved communities can Common Cents Lab catalyze change. To Highlights Provided nearly scale impact, MetLife $1M Foundation partners from with Village Capital, a nonprofit venture capital firm, to fund Inclusion and over 8,000 MetLife volunteer hours to accelerate financial health innovators across Plus, 50 social enterprises Europe and the Middle East. The initiative 2016-2018 provides support through roundtables with financial health experts, including Financial Health MetLife employees, Leadership Highlights business development assistance and In 2018, MetLife Foundation: individual grants up to $50,000. • Expanded funding for Common Cents Lab at Duke University, which has helped Engaged nearly Convened winning social ventures reach over one million entrepreneurs for a lower-income Americans with better 500 global • financial services and plans to expand globally with Foundation support. Partnered with Gallup on a groundbreaking summit financial health survey of more than 15,000 social enterprises across people in 10 countries. The results allow 12 countries countries and organizations to make more informed decisions about improving that included workshops, financial health. panel discussions and networking opportunities • Assessed the impact of Dream, Save, Do, our global financial empowerment initiative with Sesame Workshop, on parents’ and children’s financial knowledge, abilities and behaviors.


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    38 MetLife 2018 CR Report | MetLife Foundation: Building Financial Health for All 39 Building and Supporting Vibrant Communities Employee Volunteers Connect to the Giving back to the places where MetLife operates fosters strong connections between MetLife and communities. The World and Each Other Foundation also positively affects communities through grants for financial health initiatives, education, arts and culture, and MetLife employees around the world embrace volunteering, Strengthening disaster relief. MetLife Foundation also connects with partners and MetLife employees to support small businesses and grow local economic opportunities. In 2018, these grants combined with donations from MetLife, Fundación MetLife México and scaling the Foundation’s positive social impact and forming deeper connections with each other and the community through a Nonprofit MetLife Foundation Korea, totaled $44 million. hands-on and skills-based programs. In 2018, employees Microfinance provided over 99,000 hours of service, with 40 percent spent on financial health efforts. Institution in Bangladesh Enriching Our Communities: 2018 Volunteering: By the Numbers MetLife employees 2018 Global Highlights based in Dhaka, Bangladesh brought their professional skills to bear 100,000 Strong Asian University Bunker Labs Jordan Children’s Special Olympics in the Americas for Women Museum to reduce rural poverty. Innovation Fund 28% Through Bankers without Borders, the MetLife Foundation Since 2016, MetLife Bunker Labs supports MetLife Foundation Special Olympics employees volunteered sponsored 18 higher Foundation has ex-military aspiring supports educational Young Athletes is an education institutions supported the entrepreneurs programs at Jordan’s inclusive sport and with MetLife in the United States, Bangladesh-based throughout the United Children’s Museum, play program for 99,000 Foundation partner Argentina, Brazil, Asian University for States. MetLife focused on promoting children with and hours BURO Bangladesh, a Chile, Colombia Women’s flagship Foundation’s grant diversity and inclusion. without intellectual 45% fast-growing nonprofit and Mexico to collegiate bridge- finances a business disabilities aged bring traditionally year program that news show produced two to seven. With 17% providing financial and underrepresented targets women by veterans for MetLife Foundation’s social services to one students into with limited access veterans. support, the program international academic to quality higher is expanding across million lower-income exchange programs. education. Europe, the Middle 10% people, primarily East and North Africa. women. MetLife volunteers provided recommendations United States Europe, Middle East on how to improve and Africa BURO’s organizational Asia Latin America structure and incentive processes and shared human resources best practices. Leveraging Employee Skills MetLife Foundation encourages MetLife volunteers to share their knowledge and skills to support community partners. In 2018, 22 percent of volunteer hours were skills-based. Through a partnership with Taproot Foundation, MetLife employees volunteered more than 300 hours in 2018, leveraging their expertise in brand and marketing, communications, finance, human resources and lean management in support of nonprofit partners. For example, Hot Bread Kitchen in New York City, which helps women develop skills to secure jobs in commercial kitchens, worked with MetLife’s lean management experts to increase the efficacy — and lower the cost — of recruitment for its “Bakers in Training” program, ensuring more women find good-paying jobs. Hot Bread Kitchen’s “Bakers in Training” program


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    40 MetLife 2018 CR Report | Our Global Impact Goals 41 Our Goals Progress Investment Expand our responsible investment efforts by Achieved. Formed a Sustainable Investment Strategies group, effective April 1, 2018, to Goals forming a Sustainable Investment Strategies oversee and grow our responsible investment platform. group by the end of 2018. Global Impact In 2019, MetLife Investment Management Achieved. (MIM) signed onto the Principles for Responsible Investing (PRI) as an investment manager. In 2019, MIM established an ESG Integration Achieved. Council to communicate and socialize ESG Goals policies and practices and facilitate best practices across teams and functions. Risk Ensure a strong risk management culture. On target. Launched training course for new employees and select U.S. employees, Management encouraging an ownership mindset and creating a safe space for exploring ideas and speaking and Ethics up. Refreshed and re-launched the Three Lines of Defense course in November 2018. Goals Manage risks within our approved risk appetite On target. Conducted an in-depth review of, and updated, our Enterprise RAS. Changes statements (RAS). included updating metrics, strengthening qualitative statements and expanding the use of stress testing. The Board of Directors approved the updated versions in June 2018. MetLife sets goals that relate to interactions Customer Continue to measure customer loyalty through On target. Goals Net Promoter Score (NPS) programs. 1. Enhanced relationship NPS program to allow for more granular and actionable with employees, customers, suppliers, measurement. 2. Further streamlined and standardized transactional NPS measurement. communities and the environment. Continue to standardize our product development On target. Continued to invest in market research to create differentiated solutions that We report on our progress toward these process and improve “experience design” to directly address customer preferences. deliver the best possible end-to-end customer goals as part of our commitment to making solutions. a global impact. Employee Create a culture of health, with wellness On target. Expanded employee access in more than 35 countries to Wellness for Life Goals programming in every country. activities run by local wellness champions. Ensure all MetLife employees are thinking On target. Launched the first annual “Wellness for Life Week” initiative. Employees in more about their health and have access to plans and than 20 countries took part in fitness activities, community service projects, healthy eating programs. events, mindfulness trainings and other group activities. Cultivate a diverse and inclusive culture that On target. Held our 5th Annual Inclusion Week campaign to help employees engage in values the uniqueness of our employees and daily diversity and inclusion learning. Employees made use of an interactive tool containing promotes belonging so that they can thrive and individual and team exercises on topics such as valuing differences, unconscious bias and contribute to their full potential. showing up as an ally. Environmental Become carbon neutral in 2016 and going forward. Achieved carbon neutrality in 2016 and maintained this status in 2017 and 2018. Goals By 2020, reduce energy consumption across the On target to exceed. Achieved LEED certification at three new offices and reduced global company’s global footprint by 10 percent (from a energy use by 25 percent since 2012. 2012 baseline). By 2020, reduce location-based carbon emissions On target to exceed. Reduced these emissions by 22 percent since 2012 as a result by 10 percent (from a 2012 baseline). of energy efficiency projects, workplace sustainability best practices, real estate consolidation and collaboration tools that reduce travel needs. By 2020, require 100 of our top suppliers to On target. Worked with 96 suppliers to disclose their GHG emissions and emissions disclose their greenhouse gas (GHG) emissions reductions. and reduction activities. MetLife Commit $200 million over five years (starting in Achieved. Committed over $200 million through 2018, reaching more than six million Foundation 2013) to ensure that more people across the lower-income individuals in 42 countries. Goals globe have access to quality financial services. Support a culture of MetLife volunteerism On target. MetLife volunteers provided over 99,000 hours in hands-on and skills-based with a 150,000-hour commitment to MetLife initiatives worldwide — 40 percent of which supported MetLife Foundation’s financial communities over three years (through 2020). health efforts. Supplier Achieve 10 percent growth with diverse suppliers Achieved. Grew company spend with diverse suppliers to 18.7% from 11.1% in 2017. We Inclusion year-over-year through 2020. intend to maintain or grow this percentage through 2020. Goals Strive to attain 100 percent of all sourcing Achieved in 2017 and 2018. To level the playing field for diverse businesses, we implemented initiatives to include a diverse supplier. the “Rule of One” requiring Global Procurement to include at least one diverse supplier in every sourcing opportunity when supplier availability aligns with the business need. Implement a diverse supplier mentorship program On target. Refocused our mentorship program to provide diverse suppliers with capacity to achieve 15 percent program growth by 2020. building coaching in areas including RFP response and access to capital. In 2018, 21 diverse suppliers received mentorship and coaching.


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    42 MetLife 2018 CR Report | Performance Data 43 Performance MetLife Performance Data Operational Data Data Operations ($ in millions, except Earnings Per Share) 2018 2017 2016 2015 2014 Total Assets $687,538 $719,892 $898,764 $877,912 $902,322 Total Liabilities $634,580 $661,022 $831,062 $809,267 $829,507 Total MetLife, Inc.’s Stockholders’ Equity $52,741 $58,676 $67,531 $68,098 $72,208 Total Revenues $67,941 $62,308 $60,787 $61,343 $63,974 Premiums $43,840 $38,992 $37,202 $36,403 $36,970 Net Investment Income $16,166 $17,363 $16,790 $16,205 $18,158 Total Expenses $61,634 $58,772 $56,506 $55,692 $57,091 Policyholder Benefits and Claims $42,656 $38,313 $36,358 $35,144 $35,393 We have prepared our disclosures in Provision for Income Tax Expense (Benefit) $1,179 $(1,470) $693 $1,590 $1,936 accordance with the Global Reporting Net Income $5,128 $4,020 $854 $5,385 $6,336 Dividends on Common Stock $1,678 $1,717 $1,736 $1,653 $1,499 Initiative (GRI) Sustainability Reporting Earnings Per Share $4.91 $3.62 $0.67 $4.62 $5.42 Standard: Core option. The GRI Index MetLife, Inc.’s Common Stockholders’ Return on Equity 9.6% 6.3% 1.0% 7.7% 9.5% for this report can be found on the MetLife website. Investment Data at December 31, 20181 Total Assets Under Management2 At 12/31/2018 The GRI Standards provide a globally Public Corporates 20.9% Mortgage Loans 16.1% recognized framework for companies Structured Finance 12.2% Foreign Government 9.7% to measure and communicate their U.S. Government and Agency 9.7% environmental, economic, social and Private Corporates Cash and Short-Term Investments3 8.8% 4.2% governance performance. By adhering Real Estate Equity 3.6% Private Infrastructure 3.2% to this framework, we communicate in Municipals4 2.8% Common and Preferred Equity 2.7% a common language with companies Emerging Markets Debt 1.9% and organizations around the world. High Yield Alternatives 1.6% 1.5% Bank Loans 1.1% Total 100% 1 In 2018, the term Combined Managed Assets was changed to Total Assets Under Management. See also footnotes on page 8. 2 See Explanatory Note for non-GAAP financial information, definitions and reconciliations. 3 Includes cash equivalents. 4 Municipals or Municipal Bonds include taxable and tax-exempt revenue bonds, and to a much lesser extent, general obligations of states, municipalities and political subdivisions. Responsible Investments Estimated Fair Value ($ millions) 2018 2017 2016 2015 2014 Impact and Affordable Housing Investments5 $2,586 $2,431 $2,146 $1,853 – Green Investments $16,616 $15,059 $14,852 $13,552 – Infrastructure $17,109 $15,349 $11,792 $9,805 – Municipal Bonds6 $16,248 $17,152 $15,991 $15,854 – Total $52,559 $49,991 $44,781 $41,064 – Annual Investments ($ in millions) 2018 2017 2016 2015 2014 Impact and Affordable Housing Investments5 $686 $231 $446 $680 – Green Investments $1,082 $538 $564 $969 – Infrastructure $4,177 $3,216 $3,154 $1,679 – Municipal Bonds6 $1,386 $849 $1,251 $1,840 – Total $7,331 $4,834 $5,415 $5,168 – 5 In 2018, we changed the name of this focus area to Impact and Affordable Housing Investments from Community and Affordable Housing Investments to align with the GIIN terminology. 6 Municipals or Municipal Bonds include taxable and tax-exempt revenue bonds, and to a much lesser extent, general obligations of states, municipalities and political subdivisions.


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    44 MetLife 2018 CR Report | Performance Data 45 Workforce Data (as of 12/31/2018) Our Global Workforce New Hires and Turnover7 Total¹ Female Male Hires Total < 30 Years 30-50 Years > 50 Years Rate < 30 Years 30-50 Years > 50 Years Employment Contract Female 2,322 2,904 428 5% 6% 1% Regular 46,996 24,582 22,359 Male 2,056 2,166 290 4% 5% 1% Temporary 270 165 102 Terminations Total < 30 Years 30-50 Years > 50 Years Rate < 30 Years 30-50 Years > 50 Years Employment Type Female 1,372 3,301 986 3% 7% 2% Full-time 46,822 24,389 22,377 Male 1,243 2,584 869 3% 6% 2% Part-time 444 358 84 7 Excludes PNB employees. Workforce Breakdown Employees 47,266 24,747 22,461 Agents and Contractors 17,660 2,637 2,341 Workforce by Region² United States/Canada 18,179 10,682 7,451 Environmental Data1 Latin America 8,284 5,352 2,928 Asia 16,572 6,353 10,213 Environment EMEA 4,231 2,360 1,869 2018 2017 2016 2015 2014 1 Totals include employees whose gender is not recorded. Excludes PNB employees. 2 Workforce includes regular employees only. Property Global Property (million sq. ft.)2 15.40 15.32 15.78 17.16 16.79 U.S. Property (million sq. ft.)2 7.60 7.70 7.96 9.78 9.61 Employee and Board Diversity3 EPA Energy Star (no. labeled buildings)3 12 14 14 13 15 EPA Energy Star (million sq. ft.)3 3.05 3.74 4.10 4.45 5.02 Gender4 Female % Male % LEED (no. certified buildings) 21 18 19 17 14 Sales 42% 58% LEED (million sq. ft.) 4.02 3.18 3.76 3.31 3.11 Non-sales 56% 44% Executive Group (includes non-U.S.) 18% 82% Greenhouse Gas Emissions (metric tons CO2e) Board of Directors 33% 67% Gross Scope 1 Emissions (without carbon offset) 16,016 15,929 17,782 20,007 20,187 < 30 Years > 50 Years Gross Location-based Scope 2 Emissions 96,467 108,019 109,631 110,670 113,699 Age 4 30-50 Years Gross Market-based Scope 2 Emissions4 0 0 0 67,962 66,410 Sales 16% 60% 24% Scope 3 Emissions (global business travel)5 26,381 28,330 33,559 36,031 31,671 Non-sales 17% 60% 23% Carbon Offsets 59,731 64,364 70,637 4,640 5,405 Executive Group 0% 27% 73% Emissions Intensity (metric tons CO2e per FTE6) 1.23 1.37 1.36 1.41 1.42 Board of Directors 0% 0% 100% Emissions Intensity (metric tons CO2e per sq. ft.) 0.009 0.009 0.009 0.010 0.011 Ethnicity and Race3 White Black or Hispanic Asian American Not Two or Native African or Latino Indian or Specified More Races Hawaiian Energy (MWh) American Alaska Native or Pacific Total Electricity Consumption 205,704 228,680 237,224 239,261 240,745 Islander Renewable Energy Certificates 174,985 189,339 204,588 101,648 116,724 Sales 79% 9% 6% 2% 0% 2% 2% 0% Energy Intensity (MWh per FTE6) 2.26 2.41 2.49 2.46 2.43 Non-sales 69% 12% 6% 9% 0% 2% 2% 0% Energy Intensity (MWh per sq. ft.) 0.016 0.016 0.017 0.018 0.020 Executive Group 64% 0% 18% 18% 0% 0% 0% 0% Renewable Energy Capital Investment ($ millions) 536 265 230 628 146 Board of Directors 84% 8% 8% 0% 0% 0% 0% 0% Waste (lbs.)3 3 U.S. only. Due to rounding, figures may not add up to 100 percent. 4 Totals for gender and age will not match due to unidentified personnel in our system. Total Waste Generated 5,875,468 6,476,104 6,425,042 6,928,069 6,315,606 Total Waste to Landfill 2,460,497 2,800,881 2,391,720 2,763,521 2,490,229 Total Waste Recycled 3,414,971 3,675,223 4,033,322 4,164,548 3,825,377 Employee Training and Performance Reviews Waste Diversion (% recycled) 58% 57% 63% 60% 61% Enterprise-wide E-waste7 152,989 247,128 300,929 286,385 214,663 Average Hours of Training per Year5 Female Male Non-sales 9 9 Water (kgals)3 Sales 8 8 Total Water Consumption 61,666 65,706 70,022 69,021 75,061 Water Intensity (kgals per FTE6) 4.78 5.76 6.78 6.29 6.40 Employees Receiving Regular Performance Reviews 6 Female Male Water Intensity (kgals per sq. ft.) 0.0144 0.0180 0.0164 0.0143 0.0155 Non-sales 98% 98% Sales 31% 19% 1 To ensure that MetLife is providing meaningful and consistent comparison of data over time, adjustments to previous reported totals of energy and emissions occurred as a result of MetLife’s Brighthouse Financial spin-off, as well as changes to Scope 1 and Scope 3 emission factor methodology, in accordance with the Greenhouse Gas Protocol 5 Employee training figures include only training activity captured in our Learning Management System, including skill-based training and compliance training. Data includes Corporate Accounting and Reporting Standard. 2 Property figures represent the year-end square footage of our real estate portfolio, including subleases. In accordance with training courses taken online (virtual courses) and instructor-led courses. 6 Performance review figures reflect only employees who received performance ratings and had the Greenhouse Gas Protocol Corporate Accounting and Reporting Standard, energy and Scope 1 and Scope 2 emissions represents MetLife's consumption associated with the performance feedback entered into the company’s ePerformance system. Performance may be measured separately from the online system. Some gender data is not available in global real estate portfolio. 3 U.S. managed office portfolio. 4 Includes Renewable Energy Certificates (RECs) and carbon offsets. In order to provide accurate comparisons over our system, because those employees are no longer with the company. Excludes PNB employees. time, global market-based emissions have been calculated historically. 5 Reporting global business travel metrics. In order to provide accurate comparisons over time, historic data has been extrapolated where necessary. 6 Full-time employee. 7 Total weight recycled, reused, and resold for all sites.


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    46 MetLife 2018 CR Report | Aligning with the Sustainable Development Goals 47 Environmental Data (Continued) Aligning with the Sustainable Development Goals At the United Nations Sustainable Development Summit in 2015, world leaders adopted the 2030 2018 Scope 1 Emissions Agenda for Sustainable Development. This ambitious blueprint for global progress includes 17 GHG Type Metric Tons CO2e Sustainable Development Goals (SDGs), with 169 targets, to address economic growth, social Fuel Natural Fleet inclusion and environmental protection. We contribute to the SDGs through our business operations Oil Gas Gasoline and global initiatives. The following table highlights how some MetLife activities support the Goals. CO2 Domestic 15 8,707 3,542 International 123 3,565 n/a Total 138 12,272 3,542 Sustainable Development Goal MetLife’s support for the goal CH4 Domestic 0.0006 0.1641 n/a International 0.0049 0.0672 n/a Total 0.0055 0.2313 n/a MetLife Foundation’s financial health activities support SDG Target 1.4: End poverty in all its forms everywhere ensuring everyone has access to economic resources and financial services. N2O Domestic 0.0001 0.0164 n/a International 0.0010 0.0067 n/a MetLife’s employee wellness efforts, as well as our product offerings around Total 0.0011 0.0231 n/a Ensure healthy lives and promote well-being the world, support SDG Target 3.8: achieving universal health coverage, for all, at all ages Biogenic CO2 Emissions Domestic n/a n/a n/a financial protection and access to healthcare services for all. International n/a n/a n/a Total n/a n/a n/a Achieve gender equality and empower all MetLife’s Global Women’s Initiative supports SDG Target 5.5: ensuring women and girls opportunities for women’s participation in leadership. 2018 Energy Consumption by Type MetLife’s investments in renewable energy and green buildings support Ensure access to affordable, reliable, SDG Target 7.2: increasing the global share of renewable energy and SDG Energy Type MWh sustainable and modern energy for all Target 7.3: doubling improvements in energy efficiency. Electricity 205,704 Fuel (fuel oil, natural gas and fleet gasoline) 82,753 Total Energy Consumption 288,457 Promote sustained, inclusive and sustainable MetLife’s partnerships to reach customers in global markets support SDG economic growth, full and productive Target 8.10: strengthening the capacity of financial institutions to expand employment and decent work for all access to financial services. Build resilient infrastructure, promote MetLife’s efforts to expand access to our services among underserved inclusive and sustainable industrialization communities support SDG Target 9.3: increasing the access of small-scale Community Data and foster innovation enterprises to financial services and their integration into markets. MetLife Foundation Grants ($ in millions) Reduce inequality within and among MetLife’s thought leadership on policy issues supports SDG Target 10.5: 2018 2017 2016 2015 2014 countries improving the regulation of global financial markets. Financial Inclusion $28.94 $30.20 $30.37 $29.38 $27.75 Health and Medical Research $0.79 $0.89 $1.48 $1.72 $1.86 Make cities and human settlements inclusive, MetLife’s community and affordable housing investments support SDG Arts & Culture $1.20 $1.34 $2.71 $2.87 $3.10 safe, resilient and sustainable Target 11.1: ensuring access to safe and affordable housing. Disaster Relief $0.27 $0.64 $0.19 $0.61 $0.40 Youth/Education $0.63 $0.96 $1.27 $0.89 $0.49 Community Improvement $1.86 $1.82 $2.17 $1.91 $3.04 MetLife’s environmental initiatives and corporate reporting support SDG Ensure sustainable consumption and Diversity & Inclusion $1.53 $1.28 $1.40 $1.22 $0.94 Target 12.6: encouraging companies to adopt sustainable practices and to production patterns Employee Involvement $2.68 $2.75 $3.45 $3.97 $3.49 integrate sustainability information into their reporting cycle. Total $37.90 $39.88 $43.04 $42.57 $41.07 MetLife’s work to achieve our environmental goals supports SDG Target Take urgent action to combat climate change 13.3: increasing awareness of and capacity for climate change mitigation MetLife Contributions by Source ($ in millions) and its impacts and adaptation. 2018 2017 2016 2015 2014 MetLife Foundation $37.90 $39.88 $43.04 $42.57 $41.07 Promote peaceful and inclusive societies for Mexico & Korea Foundations $1.90 $1.36 $0.46 $0.88 $1.58 sustainable development, provide access to MetLife’s programs to maintain our ethical culture support SDG Target 16.6: Corporate $4.58 $3.65 $4.78 $5.65 $4.41 justice for all and build effective, accountable developing accountable and transparent institutions. Total $44.38 $44.89 $48.28 $49.10 $47.06 and inclusive institutions at all levels


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    48 49 Note Regarding Forward-Looking Statements Explanatory Note on Non-GAAP Financial Information This report may contain or incorporate by reference information that includes or is based upon forward-looking statements within the Total Assets Under Management (“Total AUM”) is a financial measure based on methodologies other than accounting principles generally meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give expectations or forecasts of future events. accepted in the United States of America (“GAAP”). Total AUM are comprised of GA AUM, plus Indexed SA AUM plus TP AUM (each as These statements can be identified by the fact that they do not relate strictly to historical or current facts. They use words and terms such as defined below). MetLife believes the use of Total AUM enhances the understanding of the depth and breadth of its investment management “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “will,” and other words and terms of similar meaning, or are tied to future services on behalf of its general account investment portfolio, separate account index investment portfolios and unaffiliated/third party clients. periods, in connection with a discussion of future performance. In particular, these include statements relating to future actions, prospective General Account Assets Under Management (“GA AUM”) is a financial measure based on methodologies other than GAAP. MetLife utilizes services or products, future performance or results of current and anticipated services or products, sales efforts, expenses, the outcome of GA AUM to describe assets in its general account investment portfolio which are actively managed and stated at estimated fair value. contingencies such as legal proceedings, trends in operations and financial results. MetLife believes the use of GA AUM enhances the understanding and comparability of its general account investment portfolio. GA AUM are Many factors will be important in determining the results of MetLife, Inc., its subsidiaries and affiliates. Forward-looking statements are based comprised of general account Total Investments and cash and cash equivalents, excluding policy loans, other invested assets, contractholder- on our assumptions and current expectations, which may be inaccurate, and on the current economic environment, which may change. directed equity securities and fair value option securities, as substantially all of these assets are not actively managed in MetLife’s general These statements are not guarantees of future performance. They involve a number of risks and uncertainties that are difficult to predict. account investment portfolio. Mortgage loans and certain real estate investments included in GA AUM have been adjusted from carrying Results could differ materially from those expressed or implied in the forward-looking statements. Risks, uncertainties, and other factors value to estimated fair value. Classification of GA AUM by sector is based on the nature and characteristics of the underlying investments that might cause such differences include the risks, uncertainties and other factors identified in MetLife, Inc.’s filings with the U.S. Securities which can vary from how they are classified under GAAP. and Exchange Commission. These factors include: (1) difficult economic conditions, including risks relating to interest rates, credit spreads, Passive-Indexed Separate Account Assets Under Management (“Indexed SA AUM”) are passive-indexed insurance company separate equity, real estate, obligors and counterparties, currency exchange rates, derivatives, and terrorism and security; (2) adverse global capital account investment portfolios, which are stated at estimated fair value, managed by MetLife that track the return of industry market indices. and credit market conditions, which may affect our ability to meet liquidity needs and access capital, including through our credit facilities; Indexed SA AUM represent separate account assets of MetLife insurance companies which are included in MetLife, Inc.’s consolidated (3) downgrades in our claims paying ability, financial strength or credit ratings; (4) availability and effectiveness of reinsurance, hedging or financial statements at estimated fair value. indemnification arrangements; (5) increasing cost and limited market capacity for statutory life insurance reserve financings; (6) the impact on us of changes to and implementation of the wide variety of laws and regulations to which we are subject; (7) regulatory, legislative or Third Party Assets Under Management (“TP AUM”) are non-proprietary assets managed by MetLife on behalf of unaffiliated/third party tax changes relating to our operations that may affect the cost of, or demand for, our products or services; (8) adverse results or other clients, which are stated at estimated fair value. TP AUM are owned by such unaffiliated/third party clients; accordingly, TP AUM are not consequences from litigation, arbitration or regulatory investigations; (9) legal, regulatory and other restrictions affecting MetLife, Inc.’s ability included in MetLife, Inc.’s consolidated financial statements. to pay dividends and repurchase common stock; (10) MetLife, Inc.’s primary reliance, as a holding company, on dividends from subsidiaries MIM’s investment strategy incorporates relevant environmental, social and governance (“ESG”) considerations in the decision making process to meet free cash flow targets and debt payment obligations and the applicable regulatory restrictions on the ability of the subsidiaries to to support sustainable long-term returns. Responsible Investments are the portion of Total Assets Under Management that include the pay such dividends; (11) investment losses, defaults and volatility; (12) potential liquidity and other risks resulting from our participation in a following four categories: Impact and Affordable Housing Investments, Green Investments, Infrastructure Investments and Municipal Bonds securities lending program and other transactions; (13) changes to investment valuations, allowances and impairments taken on investments, (i.e., Municipals). and methodologies, estimates and assumptions; (14) differences between actual claims experience and underwriting and reserving All Other Investments are the portion of Total Assets Under Management that exclude Responsible Investments. assumptions; (15) political, legal, operational, economic and other risks relating to our global operations; (16) competitive pressures, including with respect to pricing, entry of new competitors, consolidation of distributors, the development of new products by new and existing GA AUM, Total AUM and Responsible Investments are non-GAAP financial measures and should not be viewed as substitutes for Total competitors, and for personnel; (17) the impact of technological changes on our businesses; (18) catastrophe losses; (19) a deterioration in the Investments, the most directly comparable GAAP measure. Reconciliations of Total Investments to GA AUM, GA AUM to Total AUM and experience of the closed block established in connection with the reorganization of Metropolitan Life Insurance Company; (20) impairment Total AUM to Responsible Investments are set forth in the table below. Total Investments under GAAP includes short-term investments and of goodwill or other long-lived assets, or the establishment of a valuation allowance against our deferred income tax asset; (21) changes in excludes cash and cash equivalents. assumptions related to deferred policy acquisition costs, deferred sales inducements or value of business acquired; (22) exposure to losses Additional information about MetLife’s general account investment portfolio is available in MetLife, Inc.’s quarterly financial materials for the related to guarantees in certain products; (23) ineffectiveness of risk management policies and procedures or models; (24) a failure in our quarter ended December 31, 2018, which may be accessed through MetLife’s Investor Relations Web page at http://investor.metlife.com. cybersecurity systems or other information security systems or our disaster recovery plans; (25) any failure to protect the confidentiality of client information; (26) changes in accounting standards; (27) our associates taking excessive risks; (28) difficulties in marketing and distributing products through our distribution channels; (29) increased expenses relating to pension and other postretirement benefit plans; (30) inability to protect our intellectual property rights or claims of infringement of others’ intellectual property rights; (31) difficulties, unforeseen liabilities, asset impairments, or rating agency actions arising from business acquisitions and dispositions, joint ventures, or other Reconciliation of Total Investments to General Account Assets Under Management legal entity reorganizations; (32) unanticipated or adverse developments that could adversely affect our expected operational or other and Total Assets Under Management and Responsible Investments benefits from the separation of Brighthouse Financial, Inc. and its subsidiaries; (33) the possibility that MetLife, Inc.’s Board of Directors may influence the outcome of stockholder votes through the voting provisions of the MetLife Policyholder Trust; (34) provisions of laws and our ($ in billions) 12/31/2018 12/31/2017 12/31/2016 12/31/2015 incorporation documents that may delay, deter or prevent takeovers and corporate combinations involving MetLife; and (35) other risks and Total Investments $436.2 $444.1 $500.4 $495.5 uncertainties described from time to time in MetLife, Inc.’s filings with the U.S. Securities and Exchange Commission. Plus: Cash and Cash Equivalents 15.8 12.7 17.9 12.8 Plus: Fair Value Adjustment — Mortgage Loans 1.0 1.6 1.1 1.7 MetLife, Inc. does not undertake any obligation to publicly correct or update any forward-looking statement if MetLife, Inc. later becomes Plus: Fair Value Adjustment — Real Estate and Real Estate Joint Ventures 5.7 5.3 5.2 4.4 aware that such statement is not likely to be achieved. Please consult any further disclosures MetLife, Inc. makes on related subjects in Less: Policy Loans 9.7 9.7 11.0 11.3 reports to the U.S. Securities and Exchange Commission. Less: Other Invested Assets 18.2 17.3 23.2 22.5 Less: Contractholder-Directed Equity Securities and Fair Value Option Securities 12.6 16.7 13.9 15.0 General Account Assets Under Management $418.2 $420.0 $476.5 $465.6 Plus: Passive-Indexed Separate Account Assets Under Management 14.4 14.9 27.2 26.0 Plus: Third Party Assets Under Management 156.1 152.4 15.6 11.9 Total Assets Under Management $588.7 $587.3 $519.3 $503.5 Less: All Other Investments 536.1 537.3 474.5 462.4 Responsible Investments $52.6 $50.0 $44.8 $41.1 Components of Responsible Investments: Impact and Affordable Housing Investments 2.6 2.4 2.1 1.9 Green Investments 16.6 15.1 14.9 13.5 Infrastructure 17.1 15.3 11.8 9.8 Municipal Bonds 16.3 17.2 16.0 15.9 $52.6 $50.0 $44.8 $41.1


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    About This Report This report has been prepared in accordance with the GRI Standards: Core option. The GRI Index for this report can be found on the MetLife website. We have included information from across MetLife’s global operations, and all information is provided as of December 31, 2018, unless otherwise noted. MetLife issued its 2017 Global Impact Report in June 2018 and intends to continue publishing reports on an annual basis. We did not seek external assurance for the report. Our 2018 global greenhouse gas emissions data, including Scope 1, Scope 2 and Scope 3 business travel, were externally assured to ISO14064 standards. Learn More Please visit our Global Impact website at www.metlifeglobalimpact.com to access current and past reports, summaries and GRI Indexes. You will also find translations of the reports and supporting documents in various languages. We invite your comments, questions and feedback on this report. Please contact us at: globalimpact@metlife.com MetLife, Inc. 200 Park Avenue New York, NY 10166 www.metlife.com metlife.com MetLife is committed to helping people, families and communities around the world navigate life’s twists and turns. We work hard to serve as a trusted partner for all our customers and meet tomorrow’s challenges together. Metropolitan Life Insurance Company | 200 Park Avenue | New York, NY 10166 L0419513801 [EXP0620] [ALL STATES] © 2019 METLIFE, INC.


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