Material Event - Form 8-K

Share Repurchase Authorization

Today, Prudential Financial, Inc. (the "Company") is announcing that its Board of Directors has authorized the repurchase of up to $1.0 billion of its outstanding Common Stock during the period from January 1, 2024 through December 31, 2024.

The timing and amount of any share repurchases under the Company's authorization will be determined by management based on market conditions and other considerations, and such repurchases may be executed in the open market, through derivative, accelerated repurchase and other negotiated transactions and through plans designed to comply with Rule 10b5-1(c)under the Securities Exchange Act of 1934, as amended.