Revenue: As of FY2026 Q2, the actual value is USD 1.622 B.

EPS: As of FY2026 Q2, the actual value is USD 16.53.

EBIT: As of FY2026 Q2, the actual value is USD 1.264 B.

Overall Financial Performance

Net income available to shareholders for the second quarter of 2026 was $956 million, a significant increase from $60 million in the second quarter of 2025. For the six months ended June 30, 2026, net income available to shareholders was $164 million, compared to - $234 million for the same period in 2025.Adjusted earnings for the second quarter of 2026 were $258 million, up from $198 million in the second quarter of 2025. For the six months ended June 30, 2026, adjusted earnings were $497 million, an increase from $433 million for the six months ended June 30, 2025.The adjusted return on common equity, excluding accumulated other comprehensive income (“AOCI”), was 19.7% for the four quarters ended June 30, 2026, compared to 18.4% for the four quarters ended June 30, 2025.

Corporate Expenses

Corporate expenses were $204 million on a pre-tax basis in the second quarter of 2026, compared to $202 million in the second quarter of 2025 and $227 million in the first quarter of 2026. Excluding transaction-related costs in the second quarter of 2025, corporate expenses increased by $9 million quarter-over-quarter.

Net Investment Income

Net investment income was $1,241 million in the second quarter of 2026, down from $1,285 million in the second quarter of 2025 and $1,258 million in the first quarter of 2026. Adjusted net investment income was $1,239 million in the second quarter of 2026, decreasing $53 million quarter-over-quarter and $29 million sequentially. The adjusted net investment income yield for the quarter was 4.17%, compared to 4.28% for the same period in 2025.

Book Value and Capital

Book value (common stockholders’ equity) stood at $4.9 billion, or $84.35 per common share, as of June 30, 2026, compared to $3,974 million, or $69.57 per common share, as of June 30, 2025. Book value, excluding AOCI, was $9.0 billion, or $156.10 per common share, as of June 30, 2026, up from $8,231 million, or $144.09 per common share, as of June 30, 2025.As of June 30, 2026, statutory combined total adjusted capital was $4.9 billion, relatively flat from March 31, 2026, but down from $5.6 billion as of June 30, 2025. The estimated combined risk-based capital (“RBC”) ratio was between 430% and 450% as of June 30, 2026, aligning with the company’s target range of 400% to 450% in normal markets, and an increase from 405%-425% as of June 30, 2025. Holding company liquid assets were $0.9 billion.

Annuities Segment

Adjusted earnings in the Annuities segment were $349 million in the second quarter of 2026, up from $332 million in the second quarter of 2025 and $324 million in the first quarter of 2026. Total adjusted revenues were $1,374 million, an increase from $1,331 million in the prior year, driven by increases in premiums, universal life and investment-type product policy fees, and net investment income. Total adjusted expenses were $943 million, up from $921 million, with policyholder benefits and claims increasing to $119 million from $98 million.Annuity sales totaled $2.4 billion in the second quarter of 2026, an 11% sequential increase, primarily driven by over $2.1 billion in sales of Shield Level Annuities. However, annuity sales decreased 7% quarter-over-quarter and 5% year-to-date. Variable and Shield Level Annuities account value ended at $132,977 million as of June 30, 2026, up from $127,180 million as of June 30, 2025. Net flows for Variable and Shield Level Annuities were - $2,417 million for the three months ended June 30, 2026, compared to - $2,002 million for the same period in 2025. Total Variable and Shield Level Annuity Sales were $2,292 million for the three months ended June 30, 2026, up from $2,105 million for the same period in 2025.Fixed Annuities account value ended at $16,954 million as of June 30, 2026, down from $19,339 million as of June 30, 2025. Net flows for Fixed Annuities were - $711 million for the three months ended June 30, 2026, compared to - $184 million for the same period in 2025. Total Fixed and Income Annuity Sales were $133 million for the three months ended June 30, 2026, a decrease from $505 million for the same period in 2025.

Life Segment

The Life segment reported an adjusted loss of - $4 million in the second quarter of 2026, a significant improvement from an adjusted loss of - $26 million in the second quarter of 2025 and an adjusted loss of - $6 million in the first quarter of 2026. Total adjusted revenues were $253 million, a decrease from $283 million in the prior year, with premiums and net investment income both decreasing. Total adjusted expenses were $260 million, down from $316 million, primarily due to a decrease in policyholder benefits and claims.Life sales were $39 million, representing a 22% sequential increase, an 18% increase quarter-over-quarter, and a 3% increase year-to-date. Total life sales were $39 million for the three months ended June 30, 2026, up from $33 million for the same period in 2025. Life Insurance In-Force (Net of Reinsurance) for Whole Life was $2,709 million (down from $2,818 million), Term Life was $249,861 million (down from $267,845 million), and Universal and Variable Universal Life was $31,225 million (down from $32,026 million) as of June 30, 2026.

Run-off Segment

The Run-off segment had an adjusted loss of - $56 million in the second quarter of 2026, an improvement from an adjusted loss of - $83 million in the second quarter of 2025, but a larger loss compared to - $48 million in the first quarter of 2026. Total adjusted revenues were $339 million, a decrease from $382 million in the prior year, mainly due to decreased net investment income. Total adjusted expenses were $409 million, down from $487 million, with policyholder benefits and claims decreasing.Universal Life with Secondary Guarantees account value ended at $4,321 million as of June 30, 2026, down from $4,619 million as of June 30, 2025. Net flows for Universal Life with Secondary Guarantees were $135 million for the three months ended June 30, 2026, compared to $114 million for the same period in 2025. Life Insurance In-Force (Net of Reinsurance) for Universal Life with Secondary Guarantees was $31,608 million as of June 30, 2026, down from $32,879 million as of June 30, 2025.

Corporate & Other Segment

The Corporate & Other segment reported an adjusted loss of - $31 million in the second quarter of 2026, consistent with the first quarter of 2026, but a larger loss compared to - $25 million in the second quarter of 2025. Total adjusted revenues were $137 million, a decrease from $158 million in the prior year, primarily due to lower net investment income. Total adjusted expenses were $150 million, down from $161 million, with interest credited to policyholder account balances decreasing.

Cash Flow

The provided financial supplement does not include a statement of cash flows or explicit cash flow metrics like operating cash flow or free cash flow.

Outlook / Guidance

Brighthouse Financial, Inc. and Aquarian Capital LLC entered into a definitive merger agreement on November 6, 2025, for Aquarian Capital to acquire Brighthouse Financial for $70.00 per share, valuing the transaction at approximately $4.1 billion. The merger’s completion is contingent upon receiving insurance regulatory approvals in Delaware, New York, and Massachusetts, with all other conditions either satisfied or waived. The merger is expected to close in 2026, with an automatic extension to December 6, 2026, if regulatory approvals are not obtained by September 6, 2026.