Brighthouse Financial Announces Enhancements to Its Shield® Level Annuities Product Suite

Enhancements include new Step Rate Edge feature, which is designed to provide additional growth opportunities in certain down markets

CHARLOTTE, N.C.--(BUSINESS WIRE)-- Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today that it has introduced new enhancements to its Shield Level Annuities Product Suite as the company continues to strengthen its flagship suite of annuity products. The enhancements include the launch of Shield Options with Step Rate Edge, a strategy that is designed to help clients keep their plans for retirement on track by providing additional growth opportunities in certain down markets.

Shield Options with Step Rate Edge are available with Brighthouse Shield^® Level Annuities (“Shield^® Level annuities”) and Brighthouse Shield Level Pay Plus^SM Annuities (“Shield Level Pay Plus^SM annuities”) for one-year and two-year terms with 10% and 15% Shield Rates.¹ Shield Options with Step Rate Edge provide a predetermined percentage of growth, called the Edge Rate. At the end of the term, the Edge Rate will be credited if index performance is equal to or greater than the Shield Rate, which is the client’s chosen level of downside protection.² For example, assuming a one-year term, a 3% index performance with a 10.25% Edge Rate and a 10% Shield Rate will result in a 10.25% performance rate applied to the contract. Likewise, a negative 10% index performance with a 10.25% Edge Rate and a 10% Shield Rate will result in a 10.25% performance rate applied to the contract.³ If negative index performance exceeds the Shield Rate at the end of the term, the Edge Rate does not apply, and the client will bear the portion of the loss that exceeds the Shield Rate.

“For many people preparing for retirement, market volatility remains a top concern. That is why we are pleased to introduce Shield Options with Step Rate Edge, which are designed to provide clients with the potential for growth in certain down markets and help them better meet their retirement goals,” said Myles Lambert, chief distribution and marketing officer, Brighthouse Financial.

In addition to the introduction of Shield Options with Step Rate Edge, Brighthouse Financial is expanding the availability of its existing Shield Options with Step Rate. The Step Rate, which provides a predetermined percentage of growth if the selected index performance is zero or more at the end of the term, is now offered on Shield Options with a one-year term and 15% Shield Rate and on Shield Options with a two-year term and 10% or 15% Shield Rate. These additional Shield Options with Step Rate will be available with all indices.

Brighthouse Financial is also reintroducing the Nasdaq‐100 Index^® to its Shield Level Annuities Product Suite, giving clients additional choice when it comes to selecting indices.⁴

All of the above-mentioned enhancements will be available to newly issued contracts only in approved states.

“Through the launch of Shield Options with Step Rate Edge and the other new enhancements to our Shield Level Annuities Product Suite, Brighthouse Financial is providing clients with even more choice and flexibility to help them protect what they’ve earned and ensure it lasts,” concluded Lambert.

Shield Level annuities are an award-winning⁵ suite of index-linked annuity products that offer clients opportunities to participate in market growth combined with a level of protection against market volatility. Shield Level Pay Plus annuities, which are part of the Shield Level Annuities Product Suite, are designed to help strengthen clients’ retirement portfolios by providing a stream of guaranteed lifetime income.^6,7

Click here for more information about Shield Level annuities and here for more information about Shield Level Pay Plus annuities. More information about Brighthouse Financial is available at brighthousefinancial.com.

About Brighthouse Financial, Inc.

Brighthouse Financial, Inc. (Brighthouse Financial) (Nasdaq: BHF) is on a mission to help people achieve financial security. As one of the largest providers of annuities and life insurance in the U.S.,⁸ we specialize in products designed to help people protect what they’ve earned and ensure it lasts. Learn more at brighthousefinancial.com.

1 The Shield Options available may vary by state or firm. Shield Options with Step Rate Edge are not available in New York. For Shield Options with Step Rate Edge, the Edge Rate is the rate credited at the end of the term if index performance is equal to or greater than the Shield Rate. Edge Rates are subject to change and may vary based on the selected term, index and level of protection.

2 Participate in rising markets up to your rate crediting type. Growth opportunities are based on the elected rate crediting type. The Shield Rate (level of protection) accrues daily and fully accrues on the term end date. If there is negative index performance at the end of a term, the issuing insurance company will absorb losses up to the level of protection for the selected Shield Option and your account value will be reduced by any negative performance beyond the level of protection. If you do not elect the Fixed Account, you could see a substantial loss if the index declines more than your level of protection.

3 This hypothetical example is for illustrative purposes only. The Edge Rate is set by the issuing insurance company and subject to change at any time but will never be less than the minimum guaranteed rate.

4 Nasdaq®, Nasdaq-100 Index® are registered trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the “Corporations”) and are licensed for use by Brighthouse Life Insurance Company. The products of the Shield® Level Annuities Product Suite have not been passed on by the Corporations as to their legality or suitability. The products of the Shield® Level Annuities Product Suite are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCTS OF THE SHIELD® LEVEL ANNUITIES PRODUCT SUITE.

5 Products from the Brighthouse Shield® Level Annuity suite. Barron’s Best Annuities, 2017-2019, 2021.

6 Guaranteed lifetime income depends upon staying within the parameters of the rider.

7 Early or excess withdrawals may affect the amount or ability to receive lifetime income. All guarantees are subject to the claims-paying ability and financial strength of the issuing insurance company. If the account value reduces to zero due to a non-excess withdrawal, or if there are insufficient funds to deduct the rider charge, lifetime income payments will be calculated using the applicable lifetime guarantee rate. If the account value is reduced to zero due to early or excess withdrawals, lifetime income payments will not be received.

8 Ranked by 2021 admitted assets. Best’s Review®: Top 200 U.S. Life/Health Insurers. AM Best, 2022.

Brighthouse Shield^® Level Select 6-Year Annuity, Brighthouse Shield^® Level Select 3-Year Annuity, and Brighthouse Shield^® Level Select Advisory Annuity are collectively referred to as “Shield^® Level annuities” or “Shield^® annuities.” Brighthouse Shield Level Pay Plus^SM Annuity and Brighthouse Shield Level Pay Plus^SM Advisory Annuity are collectively referred to as “Shield Level Pay Plus^SM annuities.” In this material, Shield Level annuities and Shield Level Pay Plus annuities are collectively referred to as the “Shield^® Level Annuities Product Suite.”

Shield^® Level annuities and Shield Level Pay Plus^SM annuities are index-linked annuities issued by, and product guarantees are solely the responsibility of, Brighthouse Life Insurance Company, Charlotte, NC 28277, on Policy Form L-22494 (09/12)-AV. These products are distributed by Brighthouse Securities, LLC (member FINRA). All are Brighthouse Financial affiliated companies. The contract prospectuses and contracts contain information about the contract’s features, risks, charges, expenses, exclusions, limitations, termination provisions and terms for keeping the contract in force. Prospectuses and complete details about the contracts are available from a financial professional and should be read carefully. Product availability and features may vary by state or firm.

Shield Level Pay Plus annuities and the enhancements to Shield Level annuities are not available in New York. Brighthouse Shield^® Level Select 6-Year Annuity, in New York only, is issued by Brighthouse Life Insurance Company of NY.

Brighthouse Financial^® and its design are registered trademarks of Brighthouse Financial, Inc. and/or its affiliates.

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FOR MEDIA

Deon Roberts

(980) 949-3071

deon.roberts@brighthousefinancial.com

Source: Brighthouse Financial, Inc.