Brighthouse Financial, Inc.

Index to Business Page Our Company 6 Segment Information 6 Reinsurance Activity 16 Sales Distribution 19 Regulation 20 Competition 32 Human Capital Resources 32 Information About Our Executive Officers 34 Intellectual Property 34 Available Information and the Brighthouse Financial Website 35 5 Tab le of Contents Our Company We are one of the largest providers of annuity and life insurance products in the U.S. with over 2.0 million annuity contracts and insurance policies in force at December 31, 2025. We deliver our products through multiple independent distribution channels and marketing arrangements with a diverse network of distribution partners. We primarily transact business through our insurance subsidiaries, Brighthouse Life Insurance Company, Brighthouse Life Insurance Company of NY ( BHNY ) and New England Life Insurance Company ( NELICO ); however, NELICO does not currently write new business. We believe we are a financially disciplined company with an emphasis on independent distribution and that our strategy of offering a targeted set of products to serve our customers and distribution partners will enhance our ability to invest in our business and distribute cash to our shareholders over time. We also believe that general demographic trends in the U.S.