Hartford Financial Services : 1Q21 Financial Outlook Slides

The Hartford Financial Services Group, Inc.

April 22, 2021

THE HARTFORD'S FINANCIAL PLAN

Copyright © 2021 by The Hartford. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford

SAFE HARBOR STATEMENT

Certain statements made in this presentation should be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These include statements about The Hartford's future results of operations. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ, including those discussed in The Hartford's news release issued on April 22, 2021, The Hartford's 2020 Annual Report on Form 10- K, The Hartford's Quarterly Reports on Form 10-Q, and other filings we make with the U.S. Securities and Exchange Commission (collectively, our "SEC Filings"). We assume no obligation to update this presentation, which speaks as of today's date. We refer to our SEC filings for additional important information with respect to the information contained in this summary presentation.

In setting its targeted future financial performance as set forth in this presentation, The Hartford made significant business assumptions that include, among others, GDP growth, earned pricing increases, new business and retention levels, effectiveness of new product rollouts, catastrophes, non- catastrophe loss cost trends, lessening of pandemic related claims, achieving anticipated expense savings from the Hartford Next operational transformation and cost reduction program, market returns for Hartford Funds products, and investment portfolio yields including assumed returns on limited partnerships and alternative investments. The Hartford has also made assumptions about the level of capital it must hold to satisfy regulatory and rating agency thresholds, how it will deploy the capital it generates, including assumptions about its subsidiaries' capacity to distribute dividends to the holding company, The Hartford's ability to apply deployable capital for organic growth, shareholder dividends and share repurchases and The Hartford's ability to maintain financial leverage commensurate with its current credit ratings.

These assumptions represent The Hartford's expectations regarding future events, many of which, by their nature, are inherently subject to significant uncertainties and contingencies, and many of which are outside The Hartford's control. It is very likely that one or more of the assumptions will not be met. While The Hartford believes its targeted financial performance is based on assumptions it believes to be reasonable, its actual results are likely to differ from its targeted financial performance and the differences may be material and adverse.

Non-GAAP Financial Measures: The discussion in this presentation of The Hartford's financial performance includes financial measures that are not

derived from U.S. generally accepted accounting principles (GAAP). Information regarding these non-GAAP financial measures, including reconciliations to the most directly comparable GAAP financial measures, is provided in the Appendix.

A quantitative reconciliation of net income (loss) to core earnings (loss) for The Hartford and a reconciliation of net income margin to core earnings margin in the Group Benefits segment is not calculable on a forward-looking basis because it is not possible to provide a reliable forecast of realized capital gains and losses, which typically vary substantially from period to period. In the P&C business, a quantitative reconciliation of underwriting results to underlying underwriting results or a reconciliation of combined ratio to underlying combined ratio is not calculable on a forward-looking basis because it is not possible to provide a reliable forecast of catastrophes, which are subject to significant variability from period to period.

All amounts and percentages set forth in this presentation are approximate unless otherwise noted.

2

We Are The Hartford

The Hartford has a quality franchise with a diverse platform of complementary and attractive lines of business, positioning us to generate strong risk-adjusted stockholder returns

Attractive Lines of

Business

Leading Position Across

Key Segments

Iconic Brand with

Unrivaled Distribution

Relationships

Ideally suited to benefit from market

positioning, continued pricing momentum

and expected economic recovery

#1	#2	#4
Small	Group Life and	Direct Personal
Commercial1	Disability2	Lines3

210+	35+
Year History
	Year Relationship with AARP

	1	Per Conning 2019 Small Business Insurance.
3	2	Per LIMRA, based on in-force premiums as of Dec. 31, 2019.
	3	Per AM Best and The Hartford analysis, based on 2019 direct written premiums.

The Hartford Has Transformed into a leading P&C and Group Benefits Insurer

Strategic Initiatives

Create a more-focused P&C company in the U.S.

Build specialty market capabilities

Reduce legacy A&E book exposure

Gain sufficient scale in group benefits

Optimize expense base

Actions Taken

Divested legacy life / VA (Talcott) and international business exposures

Strengthened commercial and specialty market position through Navigators acquisition and organic product development

Signed reinsurance agreement to mitigate asbestos / environmental liabilities

Expanded mid-size employer base with the Aetna acquisition to become the #2 leader in the Group Benefits market1

Launched Hartford Next to optimize expense base; outperformed initial targets

4	1 Per LIMRA, based on in-force premiums as of Dec. 31, 2019.

The Hartford's Financial Targets are Underpinned by an Attractive Business Profile Along With Support From Significant Tailwinds

The Hartford has attractive targets for top line, margins, capital management, and ROE

The Hartford's Financial Targets: Key Metrics1

• Accelerating Top-Line Growth
• Improving Margins Across Business Lines Through 2022E
• Continuing Expense Savings through Hartford Next
• Increasing Share Repurchase Authorization to $2.5bn through 20222
• Targeting 2022E and 2023E ROE of ~13-14%

Key Factors Contributing to The Hartford's Financial Targets1

1. The worst of the pandemic is behind us, and we expect to see a recovery in the near term
2. Our businesses are poised for accelerated growth and returns
3. We are taking actions to further accelerate shareholder value creation

5	1See page 2 - Safe Harbor Statement.
	2Share repurchase subject to full utilization of Board authorization and actual repurchases will be subject to market conditions, Board/management assessment

and other factors over time.