Brighthouse Financial, Inc. - Depositary Shares 6.6% Non-Cumulative Preferred Stock, Series A (BHFAP)

Equitable's Structured Capital Strategies suite is the largest registered index-linked annuity franchise in the United States and competes head-to-head with Brighthouse's Shield Level annuities for the same retirement savers and the same advisor distribution.

Prudential's FlexGuard index-linked annuities and its individual life policies target the same US retirement and protection customers as Brighthouse's two operating segments.

Corebridge is one of the largest US issuers of individual annuities and also writes term and universal life, overlapping with both of Brighthouse's product lines.

Jackson is the leading seller of traditional variable annuities in the US and reaches the same independent broker-dealer and RIA channels Brighthouse relies on for its annuity sales.

The US arm of Allianz sells the Index Advantage index-linked annuities and fixed indexed annuities that sit directly alongside Brighthouse's Shield products on the same advisor product shelves.

Lincoln competes with Brighthouse across variable and index-linked annuities and individual life insurance, distributed through the same US wirehouse and independent advisor networks.