Equitable (EQH) Proxy filing summary

Executive summary

• Announced a transformational all-stock merger with Corebridge Financial, creating a leading retirement-focused financial services company with over 10 million customers and $1.1 trillion in AUM/A.

• Achieved significant capital optimization through a $2 billion individual life reinsurance transaction and increased ownership in AllianceBernstein.

• Returned $1.8 billion to stockholders in 2025, exceeding payout ratio targets via share repurchases and dividends.

• Reported 2025 organic cash generation of $1.6 billion, with expectations to reach $1.8 billion in 2026.

• 2025 financials: net loss of $1.4 billion, Non-GAAP Operating Earnings of $1.7 billion, strong net inflows in Retirement and Wealth Management, and net outflows in Asset Management.

Voting matters and shareholder proposals

• Proposal 1: Election of nine directors for a one-year term ending at the 2027 Annual Meeting.

• Proposal 2: Ratification of PricewaterhouseCoopers LLP as independent auditor for fiscal year 2026.

• Proposal 3: Advisory vote to approve executive compensation (Say-on-Pay).

• Board recommends voting FOR all proposals.

Board of directors and corporate governance

• Board comprises nine nominees with diverse backgrounds; 67% of nominees are diverse by gender, race, or ethnicity.

• Average director age is 67.3 years; average tenure is 6.8 years.

• Mandatory retirement age is 75; five new directors since 2020.

• Board and committees are majority independent, with annual performance evaluations and a director overboarding policy.

• Shareholder rights include single class voting shares, annual director elections, no supermajority thresholds, and a 15% special meeting right.