MetLife, Inc.

NYSE-MET

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Operating Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Net Income	—	—	—	4,444	—	—
Net Income
Depreciation & Amortization	—	—	—	714	—	—
Depreciation and Amortization Expenses
Other Adjustments	—	—	—	8,074	—	—
Amortization of Premiums and Accretion of Discounts Associated with Investments, Net
Gains on Investments and from Sales of Businesses, Net
Gains on Derivatives, Net
Income from Equity Method Investments, Net of Dividends or Distributions
Interest Credited to Policyholder Account Balances
Universal Life and Investment-Type Product Policy Fees
Goodwill Impairment
Other, Net
Changes in Receivables	—	—	—	442	—	—
Change in Accrued Investment Income
Change in Premiums, Reinsurance and Other Receivables
Changes in Deferred Acquisition Costs	—	—	—	-791	—	—
Change in Deferred Policy Acquisition Costs and Value of Business Acquired, Net
Changes in Claims Reserves	—	—	—	3,297	—	—
Change in Market Risk Benefits
Change in Insurance-Related Liabilities and Policy-Related Balances
Changes in Income Taxes Payable	—	—	—	-484	—	—
Change in Income Tax
Changes in Other Operating Activities	—	—	—	-1,098	—	—
Change in Contractholder-Directed Equity Securities and Fair Value Option Securities
Change in Other Assets
Change in Other Liabilities
Cash from Operating Activities	14,627	15,229	16,532	14,598	15,169	14,475
Net Cash Provided by Operating Activities

Investing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Purchases of Investments	-99,189	-94,018	-93,609	-88,146	-81,223	-81,013
Fixed Maturity Securities Available-for-Sale
Equity Securities
Mortgage Loans
Real Estate and Real Estate Joint Ventures
Other Limited Partnership Interests
Short-Term Investments
Purchases of Investments in Operating Joint Ventures
Proceeds from Sale of Investments	84,819	81,615	83,624	79,848	77,717	78,172
Fixed Maturity Securities Available-for-Sale
Equity Securities
Mortgage Loans
Real Estate and Real Estate Joint Ventures
Other Limited Partnership Interests
Short-Term Investments
Payments for Business Acquisitions	—	—	—	—	—	—
Purchases of Businesses
Purchases of Businesses, Net of Cash Received
Proceeds from Business Divestments	—	—	—	—	—	—
Cash Disposed Due to Distribution of Brighthouse
Sales of Businesses, Net of Cash and Cash Equivalents Disposed of
Other Investing Activities	-2,059	-1,386	-2,163	-3,195	-2,047	-3,062
Cash Received in Connection with Freestanding Derivatives
Cash Paid in Connection with Freestanding Derivatives
Cash Received Under Repurchase Agreements
Cash Paid Under Repurchase Agreements
Cash Received Under Reverse Repurchase Agreements
Cash Paid Under Reverse Repurchase Agreements
Net Change in Policy Loans
Net Change in Short-Term Investments
Net Change in Other Invested Assets
Other, Net
Cash from Investing Activities	-16,685	-13,829	-12,188	-11,493	-5,553	-6,363
Net Cash Provided by Investing Activities

Financing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Issuance of Long-Term Debt	1,253	1,538	1,208	1,853	2,022	2,756
Long-Term Debt Issued
Proceeds from Mortgage Loan Secured Financing
Repayments of Long-Term Debt	-1,971	-1,861	-3,186	-2,835	-2,570	-2,478
Long-Term Debt Repaid
Collateral Financing Arrangement Repaid
Repayments of Mortgage Loan Secured Financing
Net Issuance / (Repayments) of Long-Term Debt	-718	-323	-1,978	-982	-548	278
Repurchases of Common Shares	-2,829	-3,101	-3,446	-3,207	-3,660	-3,678
Treasury Stock Acquired in Connection with Share Repurchases
Net Issuance / (Repurchases) of Common Shares	-2,829	-3,101	-3,446	-3,207	-3,660	-3,678
Issuance of Preferred Shares	—	—	—	—	—	—
Preferred Stock Issued, Net of Issuance Costs
Repurchases of Preferred Shares	—	—	—	—	—	—
Redemption of Preferred Stock
Preferred Stock Repurchase Premium
Preferred Stock Redemption Premium
Net Issuance / (Repurchases) of Preferred Shares	—	—	—	—	—	—
Common Share Dividends Paid	-1,512	-1,517	-1,524	-1,527	-1,535	-1,544
Dividends on Common Stock
Preferred Share Dividends Paid	-195	-196	-199	-200	-201	-201
Dividends on Preferred Stock
Other Financing Activities	5,896	4,141	3,497	2,785	3,156	2,655
Policyholder Account Balances - Deposits
Policyholder Account Balances - Withdrawals
Net Change in Payables for Collateral Under Securities Loaned and Other Transactions
Net Change in Short-Term Debt
Cash Paid for Other Transactions with Tenors Greater Than Three Months
Cash Received for Other Transactions with Tenors Greater Than Three Months
Cash Paid for Other Transactions with Tenors Greater Than Three Months
Net Change in Payables for Collateral Under Securities Loaned and Other Transactions
Distribution of Brighthouse
Derivatives with Certain Financing Elements and Other Derivative-Related Transactions, Net
Other, Net
Cash from Financing Activities	642	4	-2,650	-3,131	-2,788	-2,490
Net Cash Provided by Financing Activities

Free Cash Flow	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Free Cash Flow	14,627	15,229	16,532	14,598	15,169	14,475
NOPAT	3,862	4,301	4,519	4,444	3,783	2,937
Levered Free Cash Flow	2,916	3,768	2,327	1,585	3,013	2,986
Unlevered Free Cash Flow	3,862	4,301	4,519	2,785	3,783	2,937
Net Change in Cash	-1,416	1,404	1,694	-26	6,828	5,622