Corebridge Financial Announces $200 Million Share Repurchase from AIG and Blackstone

HOUSTON--(BUSINESS WIRE)-- Corebridge Financial, Inc. (NYSE: CRBG) (“Corebridge”) today announced that it entered into a share repurchase agreement (the “Share Repurchase Agreement”) with American International Group, Inc. (AIG) and an affiliate of Blackstone Inc. (“Blackstone”) on June 21, 2023, pursuant to which it will repurchase an aggregate of $200 million of Corebridge common stock (the “Share Repurchase”). Of the $200 million, approximately 90.1% will be repurchased from AIG and approximately 9.9% will be repurchased from Blackstone. The Share Repurchase is expected to close on June 23, 2023, subject to customary closing conditions.

The purchase price paid by Corebridge was $16.41 per share, the closing price of Corebridge common stock on the New York Stock Exchange immediately prior to entry into the Share Repurchase Agreement.

About Corebridge Financial

Corebridge Financial, Inc. makes it possible for more people to take action in their financial lives. With more than $365 billion in assets under management and administration as of March 31, 2023, Corebridge Financial is one of the largest providers of retirement solutions and insurance products in the United States. We proudly partner with financial professionals and institutions to help individuals plan, save for and achieve secure financial futures. For more information, visit corebridgefinancial.com and follow us on LinkedIn, YouTube, Facebook and Twitter.

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Josh Smith (Investors): investorrelations@corebridgefinancial.com

Matt Burkhard (Media): media.contact@corebridgefinancial.com

Source: Corebridge Financial