Updates offer additional growth, protection and flexibility opportunities

Jackson National Life Insurance Company® (Jackson®), the main operating subsidiary of Jackson Financial Inc.¹ (NYSE:JXN), today launched Jackson Market Link Pro® II (JMLPII) and Jackson Market Link Pro Advisory® II (JMLPAII), two new registered index-linked annuities (RILAs). JMLPII (commission-based) and JMLPAII (fee-based) provide consumers the opportunity to grow assets before and during retirement while offering different degrees of protection against unexpected market events.

"Registered index-linked annuities are attractive investment strategies that provide flexibility, growth opportunities and partial downside protection during times of market volatility," said Alison Reed, Chief Operating Officer of Jackson National Life Distributors LLC (JNLD), the marketing and distribution business of Jackson. "Since entering the RILA market in late 2021, Jackson is committed to enhancing our suite of products to provide competitive options that seek to address clients' unique needs. As a leader in the annuities space, we will continue to evolve our offerings and find new ways for Americans to access retirement strategies as they prepare for their financial futures."

JMLPII and JMLPAII enhancements include the following:

Exclusive Crediting Method: Jackson offers a unique, new Performance Boost crediting method within JMLPII and JMLPAII. This crediting method provides a positive Index Adjustment equal to the index return, plus a 10% performance boost rate if the index return is flat, positive or negative within the buffer, up to the performance boost cap rate.
Expanded Index Account Option Terms: A 3-year Index Account Option term has been added to the existing 1-year and 6-year Index Account Option terms². Any gains or losses in the tracked index(es) (described below) are calculated at the end of the term, and the contract value is adjusted accordingly.
Intra-Term Performance Lock Feature: The new Performance Lock option provides an increased level of transparency to contract holders, enabling them to lock in their interim value at any point during the Index Account Option term. In practice, the value at the lock-in point moves to a short-duration fixed account until the next contract anniversary.
Index Participation Rate on Cap Crediting Method: Jackson is adding an Index Participation Rate to the Cap crediting method, which can provide even more upside growth opportunity when the market conditions are favorable.

In addition to these enhancements, Jackson's RILA suite offers the following features:

Multiple Index Options: Five index options that can be allocated in any combination are available, including the S&P 500 Index, Russell 2000 Index, MSCI EAFE Index, MSCI Emerging Markets Index and MSCI KLD 400 Social Index (an ESG option). Jackson will not restrict which index options can be selected with each crediting method or protection option, allowing consumers to reallocate their assets without unwanted tax consequences and invest in what matters most to them³.
Allocation Flexibility: Crediting methods offer ways to calculate and lock in potential index-linked returns to address clients' market expectations. In addition to the new Performance Boost crediting method⁴, Jackson offers two additional crediting methods — Cap and Performance Trigger.
Protection Options: Clients may select from Buffer or Floor protection options to help guard their retirement assets against unforeseen market changes. The level of protection depends on the crediting method selected.
Legacy and Cost Control: Through the built-in death benefit⁵ — available at no additional charge — investors can help protect their retirement assets against market downturns while providing a legacy for beneficiaries. Additionally, with no annual contract fees⁶, more investable assets remain in clients' accounts.

Jackson is also focused on improving the financial professional and client experience. New digital enhancements include greater transparency into various contract values, self-service options on www.jackson.com and a robust Rate Center that enables financial professionals and clients to sort, filter and export new business and renewal rates. In addition, Jackson's Market Link Pro Suite Tool — a data-driven tool powered by Halo Investing — enables clients to input personal data to generate hypothetical scenarios of the various RILA options.

"Jackson is committed to modernizing our processes to further improve the experience financial professionals and their clients have when doing business with us," said Brian Sward, Head of Product Solutions, JNLD. "We place a strong emphasis on education when launching new products, and our partnerships with financial professionals have enabled us to provide expanded resources and tools to help illustrate the ways in which RILAs can benefit client portfolios."

Financial professionals who would like to learn more about Jackson's RILA products can contact the company at 1-800-711-7397, connect with their local wholesaler or visit www.jackson.com/RILA.

ABOUT JACKSON

Jackson® (NYSE:JXN) is committed to helping clarify the complexity of retirement planning—for financial professionals and their clients. Through our range of annuity products, financial know-how, history of award-winning service* and streamlined experiences, we strive to reduce the confusion that complicates retirement planning. We take a balanced, long-term approach to responsibly serving all our stakeholders, including customers, shareholders, distribution partners, employees, regulators and community partners. We believe by providing clarity for all today, we can help drive better outcomes for tomorrow. For more information, visit www.jackson.com.

*SQM (Service Quality Measurement Group) Contact Center Awards Program for 2004 and 2006-2022, for the financial services industry (To achieve world-class certification, 80% or more of call-center customers surveyed must have rated their experience as very satisfied, the highest rating possible).

Jackson® is the marketing name for Jackson Financial Inc., Jackson National Life Insurance Company® (Home Office: Lansing, Michigan) and Jackson National Life Insurance Company of New York® (Home Office: Purchase, New York).

SAFE HARBOR STATEMENT

The information in this press release contains forward-looking statements about future events and circumstances and their effects upon revenues, expenses and business opportunities. Generally speaking, any statement in this release not based upon historical fact is a forward-looking statement. Forward-looking statements can also be identified by the use of forward-looking or conditional words, such as "could," "should," "can," "continue," "estimate," "forecast," "intend," "look," "may," "will," "expect," "believe," "anticipate," "plan," "remain," "confident" and "commit" or similar expressions. In particular, statements regarding plans, strategies, prospects, targets and expectations regarding the business and industry are forward-looking statements. They reflect expectations, are not guarantees of performance and speak only as of the dates the statements are made. We caution investors that these forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from those projected, expressed, or implied. Factors that could cause actual results to differ materially from those in the forward-looking statements include those reflected in the Company's reports filed with the U.S. Securities and Exchange Commission. Except as required by law, Jackson Financial Inc. does not undertake to update such forward-looking statements. You should not rely unduly on forward-looking statements.

This material is authorized for use only when preceded or accompanied by the current contract prospectus. Before investing, investors should carefully consider the investment objectives and risks of the registered index-linked annuity. This and other important information is contained in the current contract prospectus at Jackson.com/ProspectusJMLP2 for the Jackson Market Link Pro II prospectus or Jackson.com/ProspectusJMLPA2 for the Jackson Market Link Pro Advisory II prospectus. Please read the prospectus carefully before investing or sending money.

Jackson, its distributors, and their respective representatives do not provide tax, accounting, or legal advice. Any tax statements contained herein were not intended or written to be used and cannot be used for the purpose of avoiding U.S. federal, state, or local tax penalties. Tax laws are complicated and subject to change. Tax results may depend on each taxpayer's individual set of facts and circumstances. You should rely on your own independent advisors as to any tax, accounting, or legal statements made herein.

Registered index-linked annuities are long-term, tax-deferred insurance contracts designed for retirement. They are subject to investment risk, the value will fluctuate, and loss of principal is possible. Earnings are taxable as ordinary income when distributed. Individuals may be subject to a 10% additional tax for withdrawals before age 59½ unless an exception to the tax is met.

Guarantees are backed by the claims-paying ability of Jackson National Life Insurance Company. They are not backed by the broker/dealer from which this annuity contract is purchased, by the insurance agency from which this annuity contract is purchased or any affiliates of those entities, and none makes any representations or guarantees regarding the claims-paying ability of Jackson National Life Insurance Company.

STANDARD & POOR'S®, S&P® and S&P 500® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P") and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones") and have been licensed for use by S&P Dow Jones Indices LLC. The S&P 500 is a product of S&P Dow Jones Indices LLC, and has been licensed for use by Jackson National Life Insurance Company ("Jackson"). Jackson Market Link Pro is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P, or any of their respective affiliates (collectively, "S&P Dow Jones Indices"), and S&P Dow Jones Indices LLC does not make any representation or warranty, express or implied, to the owners of Jackson Market Link Pro or any member of the public regarding the advisability of investing in securities generally or in Jackson Market Link Pro particularly or the ability of the S&P 500 to track general market performance.

Jackson Market Link Pro Suite has been developed solely by Jackson National Life Insurance Company. This/These products(s) is/are not in any way connected to or sponsored, endorsed, sold or promoted by the London Stock Exchange Group plc and its group undertakings (collectively, the "LSE Group"). FTSE Russell is a trading name of certain of the LSE Group companies.

All rights in the Russell® 2000 (the "Index") vest in the relevant LSE Group company which owns the Index. Russell® is a trade mark of the relevant LSE Group company and is used by any other LSE Group company under license.

The Index is calculated by or on behalf of FTSE International Limited or its affiliate, agent or partner. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of the Jackson Market Link Pro Suite. The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from the Jackson Market Link Pro Suite or the suitability of the Index for the purpose to which it is being put by Jackson National Life Insurance Company.

The Product referred to herein is not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such Products or any index on which such Products are based. The Contract contains a more detailed description of the limited relationship MSCI has with Jackson National Life Insurance Company and any related Products.

Registered index-linked annuities (contract form numbers RILA290, RILA290-CB1, RILA292, RILA292-CB1, RILA295, RILA295-FB1, RILA297, RILA297-FB1) are issued by Jackson National Life Insurance Company (Home Office: Lansing, Michigan) and distributed by Jackson National Life Distributors LLC, member FINRA. These products have limitations and restrictions, including withdrawal charges, market value adjustment, and Interim Value Calculation. Jackson issues other annuities with similar features, benefits, limitations, and charges. Discuss them with your financial professional or contact Jackson for more information.

Firm and state variations may apply. Additionally, products not available in all states.

¹ Jackson National Life Insurance Company is a wholly owned subsidiary of Jackson Financial Inc. Jackson Financial Inc. is a publicly traded company.

² Not all crediting methods and/or protection options are available with all Index Account Option terms.

³ Investors are not buying shares of any stock or index and cannot invest directly in an index. The payment of dividends is not reflected in the index return.

⁴ The Performance Boost crediting method is only available with JMLPII and JMLPAII.

⁵ If the oldest owner's age when the contract is issued is between 0 and 80, the death benefit is equal to the greater of the current contract value or premiums paid into the contract adjusted for any withdrawals incurred since the issuance of the contract. If the oldest owner's age is between 81 and 85 when the contract is issued, the death benefit is equal to the current contract value.

⁶ Withdrawals during the first six years are subject to a withdrawal charge or market value adjustment. Withdrawals before the end of a term are subject to an interim value adjustment which may have a positive or negative impact on the contract value at the end of the term and may be significant.

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