Quarterly Financial Supplement ——————————— Second Quarter 2025 The financial statements and financial exhibits included herein are unaudited. These financial statements and exhibits should be read in conjunction with the Company's periodic reports on Form 10-K, Form 10-Q and Form 8-K as applicable. All dollar amounts are presented in millions except for per share amounts. Exhibit 99.2

Financial Results Financial Highlights 3 Consolidated Statements of Operations (GAAP) 4 Adjusted Net Earnings - Management View 5 Adjusted Net Earnings - Significant Income and Expense Items 6 Adjusted Return on Assets 7 Assets Under Management Rollforward and Average Assets Under Management 8 Interest and Investment Income and Yield 8 Consolidated Balance Sheets (GAAP) 9 Capitalization 10 Return on Equity Attributable to Common Shareholders 10 Investment Summary Summary of Invested Assets by Asset Class 11 Credit Quality of Fixed Maturity Securities, Asset-Backed Securities and Collateral Loan Obligations and Loan-Backed Private Originations 12 Product Summary GAAP Net Reserve Summary 13 Annuity Account Balance Rollforward 13 Annuity Liability Characteristics 14 Top 5 Reinsurers 14 Additional Information Ratings Overview 15 Shareholder Information 16 Non-GAAP Reconciliations 17 Non-GAAP Measures Definitions 21 F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 2

Financial Highlights Three months ended Six months ended June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 June 30, 2025 June 30, 2024 SELECTED CONSOLIDATED STATEMENT OF OPERATIONS DATA Net earnings (loss) attributable to F&G $ 40 $ (21) $ 327 $ (6) $ 203 $ 19 $ 318 Net earnings (loss) attributable to common shareholders 35 (25) 323 (10) 198 10 309 Net earnings (loss) attributable to common shareholders per diluted share ² 0.26 (0.20) 2.50 (0.08) 1.55 0.08 2.45 Weighted-average diluted shares outstanding (in millions) 134 126 131 124 131 131 130 RELATED NON-GAAP MEASURES ¹ Adjusted net earnings attributable to common shareholders 103 91 143 156 139 194 247 Adjusted net earnings attributable to common shareholders per diluted share ² 0.77 0.72 1.12 1.22 1.10 1.48 1.97 Adjusted weighted-average diluted shares outstanding (in millions) 134 132 131 131 131 131 130 Adjusted return on assets attributable to common shareholders 0.71 % 0.68 % 1.06 % 1.05 % 0.98 % 0.71 % 0.98 % Adjusted return on average common shareholder equity, excluding AOCI 8.8 % 9.7 % 10.3 % 9.1 % 8.4 % 8.8 % 8.4 % SELECTED CONSOLIDATED BALANCE SHEET DATA Total assets 91,816 88,007 84,931 84,123 78,368 91,816 78,368 Total liabilities 87,259 83,522 80,855 79,648 74,580 87,259 74,580 Total equity 4,557 4,485 4,076 4,475 3,788 4,557 3,788 Total equity, excluding AOCI 6,227 6,219 5,999 5,706 5,741 6,227 5,741 Common shares outstanding (in millions) 135 135 127 126 126 135 126 RELATED NON-GAAP MEASURES ¹ Total F&G equity attributable to common shareholders, excluding AOCI 5,858 5,847 5,624 5,327 5,357 5,858 5,357 Book value per common share 31.02 30.47 29.14 32.51 27.02 31.02 27.02 Book value per common share, excluding AOCI 43.39 43.31 44.28 42.28 42.52 43.39 42.52 Assets under management ("AUM") 55,565 54,546 53,817 52,464 52,208 55,565 52,208 Average assets under management ("AAUM") YTD 54,521 53,877 51,574 50,970 50,181 54,521 50,181 AUM before flow reinsurance 69,161 67,398 65,274 62,875 61,370 69,161 61,370 SALES ¹ Indexed annuities ("FIA/RILA") $ 1,701 $ 1,461 $ 1,797 $ 1,847 $ 1,648 $ 3,162 $ 3,085 Fixed rate annuities ("MYGA") 1,907 562 648 1,655 1,475 2,469 2,802 Total annuity 3,608 2,023 2,445 3,502 3,123 5,631 5,887 Indexed universal life ("IUL") 53 43 41 39 44 96 86 Funding agreements ("FABN/FHLB") — 525 — — 915 525 1,020 Pension risk transfer ("PRT") 445 311 983 337 338 756 922 Gross sales 4,106 2,902 3,469 3,878 4,420 7,008 7,915 Sales attributable to flow reinsurance to third parties (1,362) (721) (1,031) (1,492) (975) (2,083) (2,168) Net sales $ 2,744 $ 2,181 $ 2,438 $ 2,386 $ 3,445 $ 4,925 $ 5,747 ¹ Refer to "Non-GAAP Reconciliations" and "Non-GAAP Measures Definitions" in the additional information section. ² Beginning in 2024, diluted share count reflects the effect of 5 million common shares issuable upon the conversion of the FNF 6.875% Series A Mandatory Convertible Preferred Stock, par value $0.001 par value per share, when their effect was dilutive. For time periods when dilutive, the weighted average number of diluted shares includes assumed issuance of common shares upon conversion of the preferred stock, as well as the preferred stock dividends are not deducted from net earnings (loss) or adjusted net earnings (loss). F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 3

Consolidated Statements of Operations (GAAP) Three months ended Six months ended June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 June 30, 2025 June 30, 2024 Revenues Life insurance premiums and other fees $ 608 $ 489 $ 1,149 $ 506 $ 487 $ 1,097 $ 1,205 Interest and investment income 682 666 707 712 684 1,348 1,300 Owned distribution revenues 23 16 20 20 18 39 41 Recognized gains and (losses), net 51 (263) (317) 206 (17) (212) 195 Total revenues 1,364 908 1,559 1,444 1,172 2,272 2,741 Benefits and expenses Benefits and other changes in policy reserves 993 524 927 1,095 608 1,517 1,769 Market risk benefit (gains) losses (4) 109 (105) 71 20 105 9 Depreciation and amortization 158 153 152 147 147 311 270 Personnel costs 77 67 81 80 69 144 135 Other operating expenses 42 41 54 45 46 83 104 Interest expense 41 40 38 36 28 81 58 Total benefits and expenses 1,307 934 1,147 1,474 918 2,241 2,345 Earnings (loss) before income taxes 57 (26) 412 (30) 254 31 396 Income tax expense (benefit) 15 (5) 85 (25) 50 10 76 Net earnings (loss) 42 (21) 327 (5) 204 21 320 Less: Non-controlling interests 2 — — 1 1 2 2 Net earnings (loss) attributable to F&G 40 (21) 327 (6) 203 19 318 Less: Preferred stock dividend 5 4 4 4 5 9 9 Net earnings (loss) attributable to F&G common shareholders $ 35 $ (25) $ 323 $ (10) $ 198 $ 10 $ 309 Net earnings (loss) attributable to F&G common shareholders per common share Basic $ 0.26 $ (0.20) $ 2.58 $ (0.08) $ 1.60 $ 0.08 $ 2.49 Diluted $ 0.26 $ (0.20) $ 2.50 $ (0.08) $ 1.55 $ 0.08 $ 2.45 Weighted average common shares used in computing net earnings (loss) per common share Basic 133 126 125 124 124 130 124 Diluted 134 126 131 124 131 131 130 . F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 4

Adjusted Net Earnings - Management View ¹ Three months ended Six months ended June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 June 30, 2025 June 30, 2024 Interest and investment income - fixed income and other $ 518 $ 509 $ 513 $ 514 $ 493 $ 1,027 $ 968 Interest and investment income - alternatives (including short term mark-to- market) 148 137 160 150 167 285 279 Interest and investment income - variable 6 19 19 26 6 25 14 Adjusted interest and investment income 672 665 692 690 666 1,337 1,261 Cost of funds ² (426) (428) (400) (395) (378) (854) (733) Product margin 246 237 292 295 288 483 528 Flow reinsurance fee income ² 14 13 13 11 9 27 17 Owned distribution margin 14 7 12 12 9 21 22 Operating expenses (91) (96) (95) (103) (97) (187) (191) Interest expense (41) (41) (38) (36) (31) (82) (61) Income tax (expense) benefit (34) (25) (37) (19) (34) (59) (59) Adjusted net earnings 108 95 147 160 144 203 256 Less: Preferred stock dividend 5 4 4 4 5 9 9 Adjusted net earnings attributable to common shareholders $ 103 $ 91 $ 143 $ 156 $ 139 $ 194 $ 247 Adjusted net earnings per common share Diluted $ 0.77 $ 0.72 $ 1.12 $ 1.22 $ 1.10 $ 1.48 $ 1.97 Weighted average common shares used in computing adjusted net earnings per common share Diluted 134 132 131 131 131 131 130 ¹ Refer to "Non-GAAP Reconciliations" and "Non-GAAP Measures Definitions" in the additional information section. ² Periods prior to March 31, 2025 have been recast to reflect updated definitions for cost of funds and flow reinsurance fee income to better align amortization and reimbursement of acquisition costs. F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 5

Adjusted Net Earnings - Significant Income and Expense Items ¹ ² Each reporting period, we identify significant income and expense items that help explain the trends in our adjusted net earnings, as we believe these items provide further clarity to the financial performance of the business. Those significant income and expense items are reported after taxes. Three months ended June 30, 2025 Adjusted net earnings of $103 million for the three months ended June 30, 2025. Investment income from alternative investments was $83 million below management's long-term expected return of approximately 10%. March 31, 2025 Adjusted net earnings of $91 million for the three months ended March 31, 2025 included income from a $16 million reinsurance true-up adjustment. Investment income from alternative investments was $63 million below management’s long-term expected return of approximately 10%. December 31, 2024 Adjusted net earnings of $143 million for the three months ended December 31, 2024 included income from $7 million of actuarial model refinements and other items. Investment income from alternative investments was $32 million below management’s long-term expected return of approximately 10%. September 30, 2024 Adjusted net earnings of $156 million for the three months ended September 30, 2024 included net expense from $17 million of actuarial assumption updates; partially offset by income from a $14 million tax valuation allowance. Investment income from alternative investments was $41 million below management’s long-term expected return of approximately 10%. June 30, 2024 Adjusted net earnings of $139 million for the three months ended June 30, 2024 included expense from $16 million of actuarial model updates and refinements. Investment income from alternative investments was $20 million below management’s long-term expected return of approximately 10%. Six months ended June 30, 2025 Adjusted net earnings of $194 million for the six months ended June 30, 2025 included income from a $16 million reinsurance true-up adjustment. Investment income from alternative investments was $146 million below management’s long-term expected return of approximately 10%. June 30, 2024 Adjusted net earnings of $247 million for the six months ended June 30, 2024 included expense from $16 million of actuarial model updates and refinements; partially offset by $2 million of other income items. Investment income from alternative investments was $72 million below management’s long-term expected return of approximately 10%. ¹ Refer to Reconciliation of net earnings (loss) to adjusted net earnings attributable to common shareholders on page 17 and Adjusted Net Earnings - Management View on page 5. ² Periods prior to March 31, 2025 have been recast to remove CLO redemption and bond prepayment income from significant income and expense items. F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 6

Adjusted Return on Assets ¹ Annualized year to date June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Adjusted interest and investment income $ 2,674 $ 2,660 $ 2,643 $ 2,601 $ 2,522 Cost of funds ² (1,708) (1,712) (1,528) (1,504) (1,466) Product margin 966 948 1,115 1,097 1,056 Flow reinsurance fee income ² 54 52 41 37 34 Owned distribution margin 42 28 46 45 44 Expenses (operating, interest and taxes) (656) (648) (639) (625) (622) Adjusted net earnings $ 406 $ 380 $ 563 $ 554 $ 512 Less: Preferred stock dividend 18 16 17 17 18 Adjusted net earnings attributable to common shareholders (A) $ 388 $ 364 $ 546 $ 537 $ 494 AAUM YTD (B) 54,521 53,877 51,574 50,970 50,181 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Adjusted interest and investment income 4.90 % 4.94 % 5.12 % 5.10 % 5.03 % Cost of funds ² (3.13) % (3.18) % (2.96) % (2.95) % (2.92) % Product margin 1.77 % 1.76 % 2.16 % 2.15 % 2.11 % Flow reinsurance fee income ² 0.10 % 0.10 % 0.08 % 0.07 % 0.06 % Owned distribution margin 0.08 % 0.05 % 0.09 % 0.09 % 0.09 % Expenses (operating, interest and taxes) (1.21) % (1.20) % (1.24) % (1.23) % (1.24) % Adjusted return on assets 0.74 % 0.71 % 1.09 % 1.08 % 1.02 % Less: Preferred stock dividend 0.03 % 0.03 % 0.03 % 0.03 % 0.04 % Adjusted return on assets attributable to common shareholders (A/B) 0.71 % 0.68 % 1.06 % 1.05 % 0.98 % ¹ Refer to "Non-GAAP Reconciliations" and "Non-GAAP Measures Definitions" in the additional information section. ² Periods prior to March 31, 2025 have been recast to reflect updated definitions for cost of funds and flow reinsurance fee income to better align amortization and reimbursement of acquisition costs. F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 7

Assets Under Management Rollforward and Average Assets Under Management ¹ Three months ended Six months ended June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 June 30, 2025 June 30, 2024 AUM at beginning of period $ 54,546 $ 53,817 $ 52,464 $ 52,208 $ 49,787 $ 53,817 $ 49,103 Net new business asset flows 1,763 1,790 2,270 1,726 3,057 3,553 5,173 Net flow reinsurance to third parties (744) (1,395) (1,046) (1,248) (930) (2,139) (2,337) Net capital transaction proceeds (disbursements) — 334 129 (222) 294 334 269 AUM at end of period $ 55,565 $ 54,546 $ 53,817 $ 52,464 $ 52,208 $ 55,565 $ 52,208 AAUM YTD $ 54,521 $ 53,877 $ 51,574 $ 50,970 $ 50,181 $ 54,521 $ 50,181 AUM before flow reinsurance $ 69,161 $ 67,398 $ 65,274 $ 62,875 $ 61,370 $ 69,161 $ 61,370 Interest and Investment Income and Yield ¹ Three months ended Six months ended June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 June 30, 2025 June 30, 2024 Adjusted interest and investment income ² $ 672 $ 665 $ 692 $ 690 $ 666 $ 1,337 $ 1,261 AAUM QTD 55,170 53,877 53,307 52,661 50,864 54,521 50,181 Yield on AAUM 4.87 % 4.94 % 5.19 % 5.24 % 5.24 % 4.90 % 5.03 % Less: Alternatives investment income (including short term mark-to-market) ³ 148 137 160 150 167 285 279 Less: Variable investment income ⁴ 6 19 19 26 6 25 14 Fixed income and other net investment income ² ⁵ $ 518 $ 509 $ 513 $ 514 $ 493 $ 1,027 $ 968 AAUM QTD, excluding alternative investments 45,259 44,971 44,739 44,100 42,509 45,107 42,162 Yield on AAUM, excluding alternative investments and variable investment income 4.58 % 4.53 % 4.59 % 4.66 % 4.64 % 4.55 % 4.59 % ¹ Refer to "Non-GAAP Reconciliations" and "Non-GAAP Measures Definitions" in the additional information section. ² Reflects interest and investment income on an adjusted net earnings basis. ³ Comprised of alternative investment income, which includes mark-to-market movement that is reflected in adjusted net earnings, from limited partnerships and limited liability corporations classified as investments in unconsolidated affiliates and non-direct lending and direct lending securitizations classified as fixed maturity securities. ⁴ Includes significant, non-recurring interest and investment income items, which could include call and tender income, commercial loan obligation redemption gains and other miscellaneous investment income. ⁵ Includes interest and investment income from fixed maturity securities (excluding certain asset backed securities considered alternative investments), mortgage loans, equity securities, short-term investments, and long-term investments. F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 8

Consolidated Balance Sheets (GAAP) Assets June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Investments Fixed maturity securities available for sale, at fair value, (amortized cost of $53,157), net of allowance for credit losses of $97 at June 30, 2025 $ 50,193 $ 47,909 $ 46,317 $ 46,909 $ 43,826 Preferred securities, at fair value 249 253 270 289 332 Equity securities, at fair value 92 101 145 146 147 Derivative investments 931 702 792 1,401 1,032 Mortgage loans, net of allowance for credit losses of $75 at June 30, 2025 6,940 6,366 5,926 5,626 5,439 Investments in unconsolidated affiliates (certain investments at fair value of $272 at June 30, 2025) 4,301 4,127 3,565 3,666 3,705 Other long-term investments 998 587 580 581 574 Policy loans 125 115 104 94 86 Short-term investments 760 549 2,410 681 421 Total investments $ 64,589 $ 60,709 $ 60,109 $ 59,393 $ 55,562 Cash and cash equivalents 1,884 3,293 2,264 3,539 3,526 Reinsurance recoverable, net of allowance for credit losses of $18 at June 30, 2025 15,777 14,746 13,369 12,404 11,031 Goodwill 2,179 2,179 2,179 2,179 2,017 Prepaid expenses and other assets (certain assets held at fair value of $18 million at June 30, 2025) 967 904 950 942 839 Other intangible assets, net 5,943 5,721 5,572 5,349 4,952 Market risk benefits asset 213 187 189 134 103 Income taxes receivable 6 — — 2 11 Deferred tax asset, net 258 268 299 181 327 Total assets $ 91,816 $ 88,007 $ 84,931 $ 84,123 $ 78,368 Liabilities and Equity Contractholder funds $ 59,813 $ 57,823 $ 56,404 $ 55,468 $ 53,602 Future policy benefits 9,463 9,065 8,749 8,268 7,636 Market risk benefits liability 711 635 549 603 459 Accounts payable and accrued liabilities 2,568 2,314 2,219 3,257 2,328 Income taxes payable — 9 5 — — Notes payable 2,235 2,234 2,171 2,038 2,038 Funds withheld for reinsurance liabilities 12,469 11,442 10,758 10,014 8,517 Total liabilities $ 87,259 $ 83,522 $ 80,855 $ 79,648 $ 74,580 Equity Preferred stock $0.001 par value; authorized 25,000,000 shares as of June 30, 2025; outstanding and issued shares of 5,000,000 as of June 30, 2025 — — — — — Common stock $0.001 par value; authorized 500,000,000 shares as of June 30, 2025; outstanding and issued shares of 134,653,564 and 135,863,553 as of June 30, 2025, respectively — — — — — Additional paid-in-capital 3,747 3,741 3,464 3,456 3,449 Retained earnings 2,394 2,389 2,440 2,145 2,182 Accumulated other comprehensive income (loss) ("AOCI") (1,670) (1,734) (1,923) (1,231) (1,953) Treasury stock, at cost (1,209,989 shares as of June 30, 2025) (33) (33) (30) (24) (24) Total F&G Annuities & Life, Inc. shareholders' equity $ 4,438 $ 4,363 $ 3,951 $ 4,346 $ 3,654 Non-controlling interests 119 122 125 129 134 Total equity $ 4,557 $ 4,485 $ 4,076 $ 4,475 $ 3,788 Total liabilities and equity $ 91,816 $ 88,007 $ — $ 84,931 $ 84,123 $ 78,368 . F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 9

Capitalization ¹ Three months ended June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Notes payable $ 2,235 $ 2,234 $ 2,171 $ 2,038 $ 2,038 Net issuance costs (premium) 35 36 24 22 22 Notes payable (aggregate principal amount) (A) $ 2,270 $ 2,270 $ 2,195 $ 2,060 $ 2,060 Total equity 4,557 4,485 4,076 4,475 3,788 Less: AOCI (1,670) (1,734) (1,923) (1,231) (1,953) Total equity, excluding AOCI $ 6,227 $ 6,219 $ 5,999 $ 5,706 $ 5,741 Total Capitalization, excluding AOCI (B) $ 8,497 $ 8,489 $ 8,194 $ 7,766 $ 7,801 Debt-to-Capitalization, excluding AOCI (A/B) 26.7 % 26.7 % 26.8 % 26.5 % 26.4 % Return on Equity Attributable to Common Shareholders ¹ Twelve months ended June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Net earnings (loss) attributable to common shareholders - rolling four quarters (C) $ 323 $ 486 $ 622 $ — $ 316 Adjusted net earnings attributable to common shareholders - rolling four quarters (D) 493 529 546 478 442 Average F&G equity attributable to common shareholders - 5 point average (E) 3,901 3,722 3,520 3,254 2,939 Less: Average AOCI - 5 point average (1,702) (1,745) (1,796) (2,020) (2,295) Average F&G equity attributable to common shareholders, excluding AOCI - 5 point average (F) $ 5,603 $ 5,467 $ 5,316 $ 5,274 $ 5,234 Return on average common shareholder equity (C/E) 8.3 % 13.1 % 17.7 % — % 10.8 % Adjusted return on average common shareholder equity, excluding AOCI (D/F) 8.8 % 9.7 % 10.3 % 9.1 % 8.4 % ¹ Refer to "Non-GAAP Reconciliations" and "Non-GAAP Measures Definitions" in the additional information section. F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 10

Summary of Invested Assets by Asset Class June 30, 2025 December 31, 2024 Amortized Cost Fair Value Percent Amortized Cost Fair Value Percent Fixed maturity securities, available for sale United States Government full faith and credit $ 323 $ 325 1 % $ 160 $ 158 — % United States Government sponsored entities 93 92 — % 98 95 — % United States municipalities, states and territories 1,540 1,310 2 % 1,592 1,346 2 % Foreign Governments 263 222 — % 231 186 — % Corporate securities: Finance, insurance and real estate 9,028 8,509 13 % 9,284 8,611 14 % Manufacturing, construction and mining 1,382 1,241 2 % 1,299 1,139 2 % Utilities, energy and related sectors 3,727 3,234 5 % 3,498 2,971 5 % Wholesale/retail trade 3,733 3,299 5 % 3,694 3,210 5 % Services, media and other 5,644 4,854 8 % 5,402 4,547 8 % Hybrid securities 588 566 1 % 604 581 1 % Non-agency residential mortgage-backed securities 2,885 2,862 5 % 2,763 2,693 5 % Commercial mortgage-backed securities ² 5,486 5,340 8 % 5,327 5,131 9 % Asset-backed securities ² 7,511 7,314 11 % 10,478 10,270 17 % Collateral loan obligations and loan-backed private originations ² 10,954 11,025 17 % 5,299 5,379 9 % Total fixed maturity securities, available for sale $ 53,157 $ 50,193 78 % $ 49,729 $ 46,317 77 % Equity securities 412 341 1 % 468 415 1 % Limited partnerships: Private equity 1,938 1,938 3 % 1,830 1,830 3 % Real assets 730 734 1 % 444 437 1 % Credit 1,355 1,355 2 % 1,021 1,021 2 % Limited partnerships 4,023 4,027 6 % 3,295 3,288 6 % Commercial mortgage loans 3,068 2,827 4 % 2,705 2,404 4 % Residential mortgage loans 3,872 3,632 6 % 3,221 2,916 5 % Other (primarily derivatives, company owned life insurance and unconsolidated owned distribution investments) 2,301 2,328 4 % 1,771 1,753 3 % Short term investments 760 760 1 % 2,410 2,410 4 % Total investments ¹ $ 67,593 $ 64,108 100 % $ 63,599 $ 59,503 100 % ¹ Asset duration of 4.7 years and 4.9 years vs. liability duration of 4.9 years and 5.8 years for the periods ending June 30, 2025 and December 31, 2024, respectively. ² Reflects classifications consistent with the NAIC Bond Project, effective 1/1/2025; for further details on our structured credit portfolio, including CLOs, CMBS and ABS, and private origination portfolio see F&G’s Spring 2025 Investor Presentation F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 11

Credit Quality of Fixed Maturity Securities June 30, 2025 NRSRO Rating NAIC Designation Fair Value Percent AAA/AA/A 1 $ 32,035 64 % BBB 2 15,998 32 % BB 3 1,571 3 % B 4 395 1 % CCC 5 78 — % CC and lower 6 116 — % Total $ 50,193 100 % Credit Quality of Asset-Backed Securities June 30, 2025 NRSRO Rating NAIC Designation Fair Value Percent AAA/AA/A 1 $ 5,556 76 % BBB 2 1,512 21 % BB 3 177 2 % B 4 7 — % CCC 5 7 — % CC and lower 6 55 1 % Total $ 7,314 100 % Credit Quality of Collateral Loan Obligations and Loan-Backed Private Originations June 30, 2025 NRSRO Rating NAIC Designation Fair Value Percent AAA/AA/A 1 $ 8,072 73 % BBB 2 1,876 17 % BB 3 852 8 % B 4 187 2 % CCC 5 — — % CC and lower 6 38 — % Total $ 11,025 100 % F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 12

GAAP Net Reserve Summary Six months ended June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 June 30, 2025 June 30, 2024 Indexed annuities $ 30,878 $ 30,326 $ 30,141 $ 30,239 $ 29,439 $ 30,878 $ 29,439 Fixed rate annuities 6,661 5,880 6,434 6,508 6,044 6,661 6,044 Single premium immediate annuity and other 1,549 1,562 1,564 1,660 1,606 1,549 1,606 Indexed universal and other life 3,053 2,899 2,813 2,795 2,624 3,053 2,624 Funding agreements 5,284 5,737 5,315 5,325 6,071 5,284 6,071 Pension risk transfer 6,785 6,373 6,066 5,408 4,882 6,785 4,882 Total product reserves $ 54,210 $ 52,777 $ 52,333 $ 51,935 $ 50,666 $ 54,210 $ 50,666 Annuity Account Balance Rollforward ¹ Three months ended Six months ended June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 June 30, 2025 June 30, 2024 Annuity balances at beginning of period: $ 35,281 $ 35,553 $ 35,103 $ 34,371 $ 33,545 $ 35,553 $ 32,967 Net deposits Indexed annuities 1,298 1,070 1,380 1,381 1,680 2,368 3,067 Fixed rate annuities 1,075 204 65 629 446 1,279 581 Total net deposits 2,373 1,274 1,445 2,010 2,126 3,647 3,648 Surrenders, withdrawals, deaths, etc. Indexed annuities (1,109) (968) (1,151) (1,264) (1,101) (2,077) (1,905) Fixed rate annuities (374) (159) (211) (249) (376) (533) (681) Total surrenders, withdrawals, deaths, etc. (1,483) (1,127) (1,362) (1,513) (1,477) (2,610) (2,586) Net flows 890 147 83 497 649 1,037 1,062 Premium and interest bonuses 28 26 28 23 25 54 47 Fixed interest credited and index credits 216 253 394 258 201 469 390 Guaranteed product rider fees (56) (51) (55) (46) (49) (107) (95) Ceded inforce reinsurance transactions — (647) — — — (647) — Account balance at end of period $ 36,359 $ 35,281 $ 35,553 $ 35,103 $ 34,371 $ 36,359 $ 34,371 ¹ The rollforward reflects the vested account balance of our indexed annuities and fixed rate annuities, net of reinsurance. F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 13

Annuity Liability Characteristics Fixed Rate Annuities Account Value Indexed Annuities Account Value Surrender Charge Percentages: June 30, 2025 No surrender charge $ 384 $ 2,401 0.0% < 2.0% 21 410 2.0% < 4.0% 391 1,626 4.0% < 6.0% 749 3,452 6.0% < 8.0% 2,101 5,355 8.0% < 10.0% 2,730 9,817 10.0% or greater — 6,922 $ 6,376 $ 29,983 Fixed Rate Annuities Account Value Indexed Annuities Account Value Credited Rate (Including Bonus Interest) vs. Ultimate Minimum Guaranteed Rate Differential: June 30, 2025 No differential $ 398 $ 1,201 0.0% - 1.0% 44 967 1.0% - 2.0% 1,130 592 2.0% - 3.0% 1,221 442 3.0% - 4.0% 828 505 4.0% - 5.0% 2,400 21 5.0% - 6.0% 355 — Allocated to index strategies — 26,255 $ 6,376 $ 29,983 Top 5 Reinsurers June 30, 2025 Financial Strength Rating Parent Company/Principal Reinsurers Reinsurance Recoverable ¹ AM Best S&P Fitch Moody's Aspida Life Re Ltd. $ 8,379 A- — — — Somerset Reinsurance Ltd. 4,028 A- BBB+ — — Everlake 1,844 A — — — Wilton Reassurance Co. 1,049 A+ — A- — Security Life of Denver 75 — — A- A3 ¹ Reinsurance recoverables do not include unearned ceded premiums that would be recovered in the event of early termination of certain traditional life policies. '-' indicates not rated F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 14

Ratings Overview A.M. Best S&P Fitch Moody's Holding Company and Security Ratings F&G Annuities & Life, Inc. Issuer Credit / Default Rating Not Rated BBB- BBB Baa3 Outlook Stable Stable Stable Senior Unsecured Notes Not Rated BBB- BBB- Baa3 Junior Subordinated Notes Not Rated BB BB Ba1 CF Bermuda Holdings Limited Issuer Credit / Default Rating Not Rated BBB- BBB Baa3 Outlook Stable Stable Stable Fidelity & Guaranty Life Holdings, Inc. Issuer Credit / Default Rating BBB BBB- BBB Not Rated Outlook Stable Stable Stable Operating Subsidiary Ratings Fidelity & Guaranty Life Insurance Company Financial Strength Rating A A- A- A3 Outlook Stable Stable Stable Stable Fidelity & Guaranty Life Insurance Company of New York Financial Strength Rating A A- A- Not Rated Outlook Stable Stable Stable F&G Life Re Ltd Financial Strength Rating Not Rated A- A- A3 Outlook Stable Stable Stable F&G Cayman Re Ltd Financial Strength Rating Not Rated Not Rated A- Not Rated Outlook Stable F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 15

Shareholder Information NYSE: FG History of Quarterly Common Stock Price High Low Close 2024 First Quarter $ 47.54 $ 35.99 $ 40.55 Second Quarter 42.76 35.11 38.05 Third Quarter 45.69 37.08 44.72 Fourth Quarter 48.76 40.10 41.44 2025 First Quarter 47.04 34.70 36.05 Second Quarter 36.88 30.17 31.98 History of Quarterly Cash Dividend to Common Shareholders Ex-Dividend Date Record Date Payable Date Amount per Share 2024 First Quarter 3/14/2024 3/15/2024 3/29/2024 $ 0.21 Second Quarter 6/13/2024 6/14/2024 6/28/2024 $ 0.21 Third Quarter 9/13/2024 9/16/2024 9/30/2024 $ 0.21 Fourth Quarter 12/16/2024 12/17/2024 12/31/2024 $ 0.22 2025 First Quarter 3/14/2025 3/17/2025 3/31/2025 $ 0.22 Second Quarter 6/13/2025 6/16/2025 6/30/2025 $ 0.22 Corporate Headquarters Research Analyst Coverage F&G Annuities & Life, Inc. Wes Carmichael 801 Grand Avenue, Suite 2600 Autonomous Research Des Moines, IA 50309 (646) 561-6250 wcarmichael@autonomous.com Investor Contact Lisa Foxworthy-Parker Alex Scott SVP, Investor and External Relations Barclays Capital, Inc. Investor.relations@fglife.com (212) 526-1561 (515) 330-3307 alex.scott@barclays.com Transfer Agent John Barnidge Continental Stock Transfer and Trust Company Piper Sandler Companies 1 State Street, 30th Floor (312) 281-3412 New York, NY 10004 john.barnidge@psc.com Phone: (212) 509-4000 http://www.continentalstock.com F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 16

Non-GAAP Reconciliations Three months ended Six months ended June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 June 30, 2025 June 30, 2024 Reconciliation of net earnings (loss) to adjusted net earnings attributable to common shareholders ¹ Net earnings (loss) attributable to common shareholders $ 35 $ (25) $ 323 $ (10) $ 198 $ 10 $ 309 Non-GAAP adjustments Recognized (gains) and losses, net Net realized and unrealized (gains) losses on fixed maturity available-for-sale securities, equity securities and other invested assets 12 15 24 (15) (37) 27 (85) Change in allowance for expected credit losses 19 22 — 10 21 41 22 Change in fair value of reinsurance related embedded derivatives 61 41 (153) 178 (10) 102 8 Change in fair value of other derivatives and embedded derivatives (13) (49) 96 (127) 8 (62) 69 Recognized (gains) losses, net 79 29 (33) 46 (18) 108 14 Market related liability adjustments (16) 103 (233) 145 (71) 87 (126) Purchase price amortization 18 15 21 22 19 33 41 Transaction costs, other and non-recurring items 8 1 19 — (3) 9 (3) Non-controlling interest (2) (2) (2) (3) (2) (4) (5) Income taxes adjustment (19) (30) 48 (44) 16 (49) 17 Adjusted net earnings attributable to common shareholders ¹ $ 103 $ 91 $ 143 $ 156 $ — $ 139 $ 194 $ 247 ¹ Refer to Adjusted Net Earnings - Significant Income and Expense Items on page 6. F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 17

Non-GAAP Reconciliations (continued) Three months ended Six months ended June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 June 30, 2025 June 30, 2024 Reconciliation of interest and investment income to adjusted interest and investment income US GAAP interest and investment income $ 682 $ 666 $ 707 $ 712 $ 684 $ 1,348 $ 1,300 Adjustments Recognized (gains) losses, net (5) 1 (10) (16) (16) (4) (33) Reclass of dividend income to owned distribution margin (5) (2) (5) (6) (2) (7) (6) Total adjustments to arrive at adjusted interest and investment income (10) (1) (15) (22) (18) (11) (39) Adjusted interest and investment income $ 672 $ 665 $ 692 $ 690 $ 666 $ 1,337 $ 1,261 Reconciliation of benefits and expenses to cost of funds US GAAP life insurance premiums and other fees 608 489 1,149 506 487 1,097 1,205 US GAAP recognized gains and (losses), net 51 (263) (317) 206 (17) (212) 195 US GAAP benefits and other changes in policy reserves (993) (524) (927) (1,095) (608) (1,517) (1,769) US GAAP market risk benefit gains (losses) 4 (109) 105 (71) (20) (105) (9) US GAAP depreciation and amortization (158) (153) (152) (147) (147) (311) (270) US GAAP line items subtotal $ (488) $ (560) $ (142) $ (601) $ (305) $ (1,048) $ (648) Adjustments Recognized (gains) losses, net 82 33 (24) 61 (3) 115 42 Market related liability adjustments (16) 103 (233) 145 (71) 87 (126) Purchase price amortization 15 14 16 15 14 29 27 Reclass of acquisition expenses from operating expenses (5) (5) (4) (4) (4) (10) (11) Reclass of fee income to flow reinsurance fee income (14) (13) (13) (11) (9) (27) (17) Total adjustments to arrive at cost of funds 62 132 (258) 206 (73) 194 (85) Cost of funds ¹ $ (426) $ (428) $ (400) $ (395) $ (378) $ (854) $ (733) Composition of flow reinsurance fee income Reclass of fee income from cost of funds 14 13 13 11 9 27 17 Flow reinsurance fee income ¹ $ 14 $ 13 $ 13 $ 11 $ 9 $ 27 $ 17 ¹ Periods prior to March 31, 2025 have been recast to reflect updated definitions for cost of funds and flow reinsurance fee income to better align amortization and reimbursement of acquisition costs. F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 18

Non-GAAP Reconciliations (continued) Three months ended Six months ended June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 June 30, 2025 June 30, 2024 Reconciliation of owned distribution revenues to owned distribution margin US GAAP owned distribution revenues $ 23 $ 16 $ 20 $ 20 $ 18 $ 39 $ 41 US GAAP non-controlling interest (2) — — (1) (1) (2) (2) US GAAP line items subtotal 21 16 20 19 17 37 39 Adjustments Non-controlling interest (2) (2) (2) (3) (2) (4) (5) Reclass of owned distribution dividend income from interest and investment income 5 2 5 6 2 7 6 Reclass of owned distribution expenses from operating expenses (10) (9) (11) (10) (8) (19) (18) Total adjustments to arrive at owned distribution margin (7) (9) (8) (7) (8) (16) (17) Owned distribution margin $ 14 $ 7 $ 12 $ 12 $ 9 $ 21 $ 22 Reconciliation of operating expenses US GAAP personnel costs $ (77) $ (67) $ (81) $ (80) $ (69) $ (144) $ (135) US GAAP other operating expenses (42) (41) (54) (45) (46) (83) (104) US GAAP line items subtotal (119) (108) (135) (125) (115) (227) (239) Adjustments Recognized (gains) losses, net 2 (5) 1 1 1 (3) 5 Purchase price amortization 3 1 5 7 5 4 14 Transaction costs, other and non-recurring items 8 2 19 — — 10 — Reclass of acquisition expenses to cost of funds 5 5 4 4 4 10 11 Reclass of expenses to owned distribution margin 10 9 11 10 8 19 18 Total adjustments to arrive at operating expenses 28 12 40 22 18 40 48 Operating expenses $ (91) $ (96) $ (95) $ (103) $ (97) $ (187) $ (191) Reconciliation of interest expense US GAAP interest expense $ (41) $ (40) $ (38) $ (36) $ (28) $ (81) $ (58) US GAAP line items subtotal (41) (40) (38) (36) (28) (81) (58) Adjustments Transaction costs, other and non-recurring items — (1) — — (3) (1) (3) Total adjustments to arrive at interest expense — (1) — — (3) (1) (3) Interest expense $ (41) $ (41) $ (38) $ (36) $ (31) $ (82) $ (61) F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 19

Non-GAAP Reconciliations (continued) Three months ended Six months ended June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 June 30, 2025 June 30, 2024 Reconciliation of income tax (expense) benefit to non-GAAP income tax (expense) benefit US GAAP income tax (expense) benefit $ (15) $ 5 $ (85) $ 25 $ (50) $ (10) $ (76) Adjustments Income taxes on non-GAAP adjustments (19) (30) 48 (44) 16 (49) 17 Total adjustments to arrive at adjusted income tax (expense) benefit (19) (30) 48 (44) 16 (49) 17 Adjusted income tax (expense) benefit $ (34) $ (25) $ (37) $ (19) $ (34) $ (59) $ (59) Six months ended June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 June 30, 2025 June 30, 2024 Reconciliation of total investments to AUM US GAAP total investments $ 64,589 $ 60,709 $ 60,109 $ 59,393 $ 55,562 $ 64,589 $ 55,562 US GAAP cash and cash equivalents 1,884 3,293 2,264 3,539 3,526 1,884 3,526 Less: US GAAP derivative investments 931 702 792 1,401 1,032 931 1,032 US GAAP line items subtotal 65,542 63,300 61,581 61,531 58,056 65,542 58,056 Adjustments Reinsurance assets ceded adjustment (12,325) (11,578) (10,836) (9,838) (8,602) (12,325) (8,602) Unrealized (gains)/losses and allowances adjustment 2,960 3,113 3,412 2,102 3,414 2,960 3,414 Owned distribution investments adjustment (303) (297) (300) (314) (381) (303) (381) Reclass from prepaid expenses and other assets ¹ 759 706 742 770 666 759 666 Reclass from accounts payable and accrued liabilities ² (1,068) (698) (782) (1,787) (945) (1,068) (945) Total adjustments to arrive at AUM (9,977) (8,754) (7,764) (9,067) (5,848) (9,977) (5,848) AUM 55,565 54,546 53,817 52,464 52,208 55,565 52,208 Flow reinsurance 13,596 12,852 11,457 10,411 9,162 13,596 9,162 AUM before flow reinsurance $ 69,161 $ 67,398 $ 65,274 $ 62,875 $ 61,370 $ 69,161 $ 61,370 Reconciliation of total F&G Annuities & Life, Inc. shareholders' equity to total F&G equity attributable to common shareholders, excluding AOCI Total F&G Annuities & Life, Inc. shareholders' equity $ 4,438 $ 4,363 $ 3,951 $ 4,346 $ 3,654 $ 4,438 $ 3,654 Less: Preferred stock 250 250 250 250 250 250 250 Total F&G equity attributable to common shareholders 4,188 4,113 3,701 4,096 3,404 4,188 3,404 Less: AOCI (1,670) (1,734) (1,923) (1,231) (1,953) (1,670) (1,953) Total F&G equity attributable to common shareholders, excluding AOCI $ 5,858 $ 5,847 $ 5,624 $ 5,327 $ 5,357 $ 5,858 $ 5,357 ¹ Includes accrued investment income, receivable for sale of investments and low income housing tax credit assets ² Includes derivative collateral and payable for purchase of investments F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 20

Non-GAAP Measures Definitions Non-GAAP Measures Generally Accepted Accounting Principles ("GAAP") is the term used to refer to the standard framework of guidelines for financial accounting. GAAP includes the standards, conventions, and rules accountants follow in recording and summarizing transactions and in the preparation of financial statements. In addition to reporting financial results in accordance with GAAP, this document includes non-GAAP financial measures, which the Company believes are useful to help investors better understand its financial performance, competitive position and prospects for the future. Management believes these non-GAAP financial measures may be useful in certain instances to provide additional meaningful comparisons between current results and results in prior operating periods. Our non-GAAP measures may not be comparable to similarly titled measures of other organizations because other organizations may not calculate such non-GAAP measures in the same manner as we do. The presentation of this financial information is not intended to be considered in isolation of or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. By disclosing these non-GAAP financial measures, the Company believes it offers investors a greater understanding of, and an enhanced level of transparency into, the means by which the Company’s management operates the Company. Any non-GAAP measures should be considered in context with the GAAP financial presentation and should not be considered in isolation or as a substitute for GAAP net earnings, net earnings attributable to common shareholders, or any other measures derived in accordance with GAAP as measures of operating performance or liquidity. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures are provided within. The following represents the definitions of non-GAAP measures used by F&G: Adjusted Net Earnings attributable to common shareholders Adjusted net earnings attributable to common shareholders is a non-GAAP economic measure we use to evaluate financial performance each period. Adjusted net earnings attributable to common shareholders is calculated by adjusting net earnings (loss) attributable to common shareholders to eliminate: (i) Recognized (gains) and losses, net: the impact of net investment gains/losses, including changes in allowance for expected credit losses and other than temporary impairment (“OTTI”) losses, recognized in operations; and the effects of changes in fair value of the reinsurance related embedded derivative and other derivatives, including interest rate swaps and forwards; (ii) Market related liability adjustments: the impacts related to changes in the fair value, including both realized and unrealized gains and losses, of index product related derivatives and embedded derivatives, net of hedging cost; the impact of initial pension risk transfer deferred profit liability losses, including amortization from previously deferred pension risk transfer deferred profit liability losses; and the changes in the fair value of market risk benefits by deferring current period changes and amortizing that amount over the life of the market risk benefit; (iii) Purchase price amortization: the impacts related to the amortization of certain intangibles (internally developed software, trademarks and value of distribution asset and the change in fair value of liabilities recognized as a result of acquisition activities); (iv) Transaction costs: the impacts related to acquisition, integration and merger related items; (v) Other and “non-recurring,” “infrequent” or “unusual items”: Other adjustments include removing any charges associated with U.S. guaranty fund assessments as these charges neither relate to the ordinary course of the Company’s business nor reflect the Company’s underlying business performance, but result from external situations not controlled by the Company. Further, Management excludes certain items determined to be “non-recurring,” “infrequent” or “unusual” from adjusted net earnings when incurred if it is determined these expenses are not a reflection of the core business and when the nature of the item is such that it is not reasonably likely to recur within two years and/or there was not a similar item in the preceding two years; (vi) Non-controlling interest on non-GAAP adjustments: the portion of the non-GAAP adjustments attributable to the equity interest of entities that F&G does not wholly own; and (vii) Income taxes: the income tax impact related to the above-mentioned adjustments is measured using an effective tax rate, as appropriate by tax jurisdiction. While these adjustments are an integral part of the overall performance of F&G, market conditions and/or the non-operating nature of these items can overshadow the underlying performance of the core business. Accordingly, management considers this to be a useful measure internally and to investors and analysts in analyzing the trends of our operations. Adjusted net earnings should not be used as a substitute for net earnings (loss). However, we believe the adjustments made to net earnings (loss) in order to derive adjusted net earnings provide an understanding of our overall results of operations. F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 21

Non-GAAP Measures Definitions (continued) Adjusted Weighted Average Diluted Shares Outstanding Adjusted weighted average diluted shares outstanding is the same as weighted average diluted shares outstanding except for periods in which our preferred stocks are calculated to be dilutive to either net earnings attributable to common shareholders or adjusted net earnings attributable to common shareholders, but not both, or there is a net earnings loss attributable to common shareholders on a GAAP basis, but positive adjusted net earnings attributable to common shareholders using the non-GAAP measure. The above exceptions are made to include relevant diluted shares when dilution occurs and exclude relevant diluted shares when dilution does not occur for adjusted net earnings attributable to common shareholders. Management considers this non-GAAP financial measure to be useful internally and for investors and analysts to assess the level of return driven by the Company that is available to common shareholders. Adjusted Net Earnings attributable to common shareholders per Diluted Share Adjusted net earnings attributable to common shareholders per diluted share is calculated as adjusted net earnings plus preferred stock dividend (if the preferred stock has created dilution). This sum is then divided by the adjusted weighted-average diluted shares outstanding. Management considers this non-GAAP financial measure to be useful internally and for investors and analysts to assess the level of return driven by the Company that is available to common shareholders. Adjusted Return on Assets attributable to Common Shareholders Adjusted return on assets attributable to common shareholders is calculated by dividing year-to-date annualized adjusted net earnings attributable to common shareholders by year-to-date AAUM. Return on assets is comprised of net investment income, less cost of funds, flow reinsurance fee income, owned distribution margin and less expenses (including operating expenses, interest expense and income taxes) consistent with our adjusted net earnings definition and related adjustments. Cost of funds includes liability costs related to cost of crediting as well as other liability costs. Management considers this non-GAAP financial measure to be useful internally and to investors and analysts when assessing financial performance and profitability earned on AAUM. Adjusted Return on Average Common Shareholder Equity, excluding AOCI Adjusted return on average common shareholder equity is calculated by dividing the rolling four quarters adjusted net earnings attributable to common shareholders, by total average F&G equity attributable to common shareholders, excluding AOCI. Average equity attributable to common shareholders, excluding AOCI for the twelve month rolling period is the average of 5 points throughout the period. Since AOCI fluctuates from quarter to quarter due to unrealized changes in the fair value of available for sale investments, changes in instrument-specific credit risk for market risk benefits and discount rate assumption changes for the future policy benefits, management considers this non-GAAP financial measure to be a useful internally and for investors and analysts to assess the level return driven by the Company's adjusted earnings. Assets Under Management (AUM) AUM is comprised of the following components and is reported net of reinsurance assets ceded in accordance with GAAP: (i) total invested assets at amortized cost, excluding investments in unconsolidated affiliates, owned distribution and derivatives; (ii) investments in unconsolidated affiliates at carrying value; (iii) related party loans and investments; (iv) accrued investment income; (v) the net payable/receivable for the purchase/sale of investments; and (vi) cash and cash equivalents excluding derivative collateral at the end of the period. Management considers this non-GAAP financial measure to be useful internally and to investors and analysts when assessing the size of our investment portfolio that is retained. AUM before Flow Reinsurance AUM before Flow Reinsurance is comprised of AUM plus flow reinsured assets, including certain block reinsured assets that have the characteristics of flow reinsured assets. Management considers this non-GAAP financial measure to be useful internally and to investors and analysts when assessing the size of our investment portfolio including reinsured assets. F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 22

Non-GAAP Measures Definitions (continued) Average Assets Under Management (AAUM) (Quarterly and YTD) AAUM is calculated as AUM at the beginning of the period and the end of each month in the period, divided by the total number of months in the period plus one. Management considers this non-GAAP financial measure to be useful internally and to investors and analysts when assessing the rate of return on retained assets. Book Value per Common Share, excluding AOCI Book value per Common share, excluding AOCI is calculated as total F&G equity attributable to common shareholders divided by the total number of shares of common stock outstanding. Management considers this to be a useful measure internally and for investors and analysts to assess the capital position of the Company. Return on Average F&G common shareholder Equity, excluding AOCI Return on average F&G common shareholder equity, excluding AOCI is calculated by dividing the rolling four quarters net earnings (loss) attributable to common shareholders, by total average F&G equity attributable to common shareholders, excluding AOCI. Average F&G equity attributable to common shareholders, excluding AOCI for the twelve month rolling period is the average of 5 points throughout the period. Since AOCI fluctuates from quarter to quarter due to unrealized changes in the fair value of available for sale investments, changes in instrument-specific credit risk for market risk benefits and discount rate assumption changes for the future policy benefits, management considers this non-GAAP financial measure to be useful internally and for investors and analysts to assess the level of return driven by the Company that is available to common shareholders. Sales Annuity, IUL, funding agreement and non-life contingent PRT sales are not derived from any specific GAAP income statement accounts or line items and should not be viewed as a substitute for any financial measure determined in accordance with GAAP. Sales from these products are recorded as deposit liabilities (i.e., contractholder funds) within the Company's consolidated financial statements in accordance with GAAP. Life contingent PRT sales are recorded as premiums in revenues within the consolidated financial statements. Management believes that presentation of sales, as measured for management purposes, enhances the understanding of our business and helps depict longer term trends that may not be apparent in the results of operations due to the timing of sales and revenue recognition. Total Capitalization, excluding AOCI Total capitalization, excluding AOCI is based on total equity excluding the effect of AOCI and the total aggregate principal amount of debt. Since AOCI fluctuates from quarter to quarter due to unrealized changes in the fair value of available for sale investments, changes in instrument-specific credit risk for market risk benefits and discount rate assumption changes for the future policy benefits, management considers this non-GAAP financial measure to provide useful supplemental information internally and to investors and analysts to help assess the capital position of the Company. Debt-to-Capitalization Ratio, excluding AOCI Debt-to-capitalization ratio is computed by dividing total aggregate principal amount of debt by total capitalization (total debt plus total equity, excluding AOCI). Management considers this non-GAAP financial measure to be useful internally and to investors and analysts when assessing its capital position. Total Equity, excluding AOCI Total equity, excluding AOCI is based on total equity excluding the effect of AOCI. Since AOCI fluctuates from quarter to quarter due to unrealized changes in the fair value of available for sale investments, changes in instrument-specific credit risk for market risk benefits and discount rate assumption changes for the future policy benefits, management considers this non-GAAP financial measure to provide useful supplemental information internally and to investors and analysts assessing the level of earned equity on total equity. Total F&G Equity attributable to common shareholders, excluding AOCI Total F&G equity attributable to common shareholder, excluding AOCI is based on total F&G Annuities & Life, Inc. shareholders' equity excluding the effect of AOCI and preferred stocks, including additional paid-in-capital. Since AOCI fluctuates from quarter to quarter due to unrealized changes in the fair value of available for sale investments, changes in instrument-specific credit risk for market risk benefits and discount rate assumption changes for the future policy benefits, management considers this non-GAAP financial measure to be useful internally and for investors and analysts to assess the level of return driven by the Company that is available to common shareholders. Yield on AAUM Yield on AAUM is calculated by dividing annualized GAAP net investment income by AAUM. Management considers this non-GAAP financial measure to be useful internally and to investors and analysts when assessing the level of return earned on AAUM. F&G Annuities & Life, Inc. Financial Supplement - June 30, 2025 23

F&G Annuities & Life, Inc. 8-K