Fidelity National Financial : FNF Spring 2021 Investor Presentation

Investor Update

Spring 2021

Legal Disclosure

This presentation may contain forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding our expectations, hopes, intentions or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions, including changes in the financial markets; weakness or adverse changes in the level of real estate activity, which may be caused by, among other things, high or increasing interest rates, a limited supply of mortgage funding or a weak U. S. economy; our potential inability to find suitable acquisition candidates, acquisitions in lines of business that will not necessarily be limited to our traditional areas of focus, or difficulties in integrating acquisitions; our dependence on distributions from our title insurance underwriters as a main source of cash flow; significant competition that our operating subsidiaries face; compliance with extensive government regulation of our operating subsidiaries; and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company's Form 10-K and other filings with the Securities and Exchange Commission.

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Organization

Fidelity National Financial, Inc. is the leading provider of title insurance and settlement services to the real estate and mortgage industries

• The nation's largest title insurance and settlement services company
• Most diversified competitor from a geographic, product, and revenue channel perspective
• #1 market share in the residential purchase, refinance, and commercial markets
• FNF holds the #1 or #2 market position in 42 states

FGL Holdings ("F&G") is a leading provider of annuity and life insurance, concentrated in the middle-income market

• Top 5 Fixed Indexed Annuity ("FIA") writer in the industry

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Investor Update

Investment Highlights

• Nation's leading provider of title insurance and transaction services to the real estate and mortgage industries
• • Nation's largest title insurance company with long-timeindustry-leading margins
  • Leading player in residential purchase, refinance and commercial markets
  • Strong performer in varying market conditions; clear way to benefit from U.S. real estate market
• F&G is a leading provider of retirement and life insurance solutions for nearly 700,000 customers
• • Offering Fixed Indexed Annuities, Multi-Year Guarantee Annuities (MYGA) and Indexed Universal Life (IUL)
  • Favorable ratings outlook and momentum
  • Favorable growth opportunities through new distribution channels
• Solid balance sheet enables payment of cash dividend, repurchase of shares, strategic acquisitions, continued investment in core businesses and future repayment of debt
• Long track record of creating value for shareholders

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FNF - Title Insurance Market Share

First Direct

American

25.8%

Stewart

Title

10.8%

Others

15.4%

FirstTotal

American

23.3%

Stewart Title

9.6%

Others

Fidelity 19.2%

National

Financial

42.0%

Old

Republic

6.0%

Fidelity

National

Financial

32.9%

Old Republic	First Agent
American
15.0%
21.9%

Stewart

Title

8.8%

Others

21.5%

Fidelity

National

Financial

27.6%

Old

Republic

20.2%

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Source: ALTA Market Share -2020 Market Share - Family-Company Summary