In January of 2016, MetLife announced plans to spin off a substantial portion of its US retail business (Brighthouse Financial – “BHF”). MetLife engaged EY to support efforts with due diligence and day 1 operational readiness support, that culminated with the completion of the separation on August 4th, 2018. However, the journey to becoming a self-operating company would take another 10 months, that started months before the official separation. BHF went through a thorough assessment of infrastructure inventory at MetLife to determine critical systems required to be self-sustainable and exit aggressive TSA timelines, whilst becoming a low cost provider to the market. As part of that effort, BHF identified Treasury technology as a critical path solution. Following a detailed assessment of business requirements and accelerated market scan/selection process, Brighthouse Financial chose Kyriba as their preferred Treasury Management System vendor. The main challenge BHF faced was to standardize a custom legacy solution that MetLife had been using for 20+ years that included 40+ interface connections from various mainframe systems through a highly customized solution providing cash visibility and a centralized payment control process. Brighthouse successfully implemented Kyriba in June of 2018, and are now full live with visibility of cash activity across 500+ accounts. The purpose of this session will be to walk through BHF’s journey from design through deployment, and provide an overview of the mythology they used to provide control across a program that saw 150+ solutions “Go Live” in parallel to Kyriba.

2. Forward-Looking Statements
This presentation and other oral or written statements that we make from time to time may contain information that includes or is based upon forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve substantial risks and uncertainties.
We have tried, wherever possible, to identify such statements using words such as “anticipate,” “estimate,” “expect,” “project,” “may,” “will,” “could,” “intend,” “goal,”
“target,” "guidance," “forecast,” “preliminary,” “objective,” “continue,” “aim,” “plan,” “believe” and other words and terms of similar meaning, or that are tied to
future periods, in connection with a discussion of future operating or financial performance. In particular, these include, without limitation, statements relating to
future actions, prospective services or products, future performance or results of current and anticipated services or products, sales efforts, expenses, the outcome
of contingencies such as legal proceedings, trends in operating and financial results, as well as statements regarding the expected benefits of the separation (the
"Separation") from MetLife, Inc.
Any or all forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties.
Many such factors will be important in determining the actual future results of Brighthouse Financial, Inc. and its subsidiaries. These statements are based on
current expectations and the current economic environment and involve a number of risks and uncertainties that are difficult to predict. These statements are not
guarantees of future performance. Actual results could differ materially from those expressed or implied in the forward-looking statements due to a variety of
known and unknown risks, uncertainties, and other factors. Risks, uncertainties and other factors that might cause such differences include the risks, uncertainties
and other factors identified in Brighthouse Financial, Inc.’s most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the
“SEC”) subsequent Quarterly Reports on Form 10-Q, including in the sections thereof captioned “Note Regarding Forward-Looking Statements” and “Item 1A. Risk
Factors,” and in other filings Brighthouse Financial, Inc. makes with the SEC. Brighthouse Financial, Inc. does not undertake any obligation to publicly correct or
update any forward-looking statement if Brighthouse Financial, Inc. later becomes aware that such statement is not likely to be achieved. Please consult any further
disclosures Brighthouse Financial, Inc. makes on related subjects in reports to the SEC.

3. The Brighthouse Financial
Treasury Story
How a newly spun-off insurance company hit the ground
running using Kyriba
3

4. Brighthouse Financial: A Focused US Retail Franchise
• One of the largest
providers of annuity and
life insurance products in
the United States.
• Formerly a part of MetLife,
Inc., Brighthouse Financial
became an independent
public company in August
2017.
$206.3B
Total assets
$7.4B
Combined TAC
$134.5B
AUM
$414.1B1
Life insurance in-force
2.5M
Policies and contracts
in-force
A+ / A3 / A / A
FSR Ratings (S&P / Moody’s / Fitch / AM Best)
$14.4B
Stockholders’ equity
Data as of December 31, 2018
1Net of reinsurance

5. Brighthouse Financial Strategy
 Simpler products focused on
generating statutory capital
 Focused on target market
segments
 Independent and diverse
distribution network
 Seek to be a financially
disciplined and, over time,
cost-competitive product
manufacturer

6. • BHF concludes market scan and
system selection project
6
Brighthouse Financial Timeline
• BHF begins technology scan
June
2016
August
2016
December
2016
May 2017 June
2018
Kyriba “Go Live”
• September 2016: 1st
Assistant Treasurer hired
• January 2017: BHF
selects Kyriba as
preferred TMS vendor
and hires 3 directors
• Kyriba project kick-off
• June 2017: Solution
architecture and approval
from ARB
• January 2016: MetLife,
Inc. announces plans to
pursue separation of its
U.S. Retail business
• August 2017:
Brighthouse Financial
completes separation
from MetLife, Inc.

7. 7
Brighthouse Financial Treasury Operations
Assistant Treasurer
Director- Liquidity
& Risk
Management
Director- Banking &
Payment Flows
Director-Cash
Management
Director- Risk
Management
Jr. Liquidity
& Risk
Analyst
Liquidity &
Risk
Analyst
Sr. Analyst
Analyst
Analyst
Analyst
Analyst Sr. Analyst
Analyst
Analyst
Analyst

8. 8
Brighthouse Financial Guiding Principles
Client-centric solution
design
 Laser-focused understanding of client needs
 Simple product designs that deliver those needs and nothing else
 Rapid innovation and deployment
Advisor loyalty and
advocacy
 Advisor segmentation / preferred partner tiers
 Ease of doing business
 Responsiveness and feedback system
 Support to grow their businesses
Operating cost leadership
 Relentless elimination of waste
 Promotion of digital and outsourcing
 Lowest distribution cost per $ of VNB
Risk and capital
management
 Individual and portfolio level risk insights to enable price leadership with the most attractive customers
 Innovative funding model to drive down our cost of capital

9. 9
Brighthouse Financial Approach to Technology Enablement
A successful Business
Architecture design will:
• Articulate comprehensive view of business
structure
• Enable strategic investment decision
making
• Enable business and technology alignment
• Enhance business optimization
• Support alignment and communication of
various aspects of the organization
including data objects, risk and controls,
metrics etc.

10. 10
Brighthouse Financial Treasury Capabilities
Considered areas in scope for Kyriba implementation

11. 11
Brighthouse Financial Market Scan Maturity Assessment
Treasury
Treasury is targeting a leading solution
design in the areas of cash, payments, and
capital management. Treasury accounting
being limited in scope is targeted as Strong.
The solutions identified as ‘leading’ are all
still classified as best-in-cost.
Primary Capability Areas Lagging
Develop-
ing
Basic Strong Leading
1 Cash Management
2
Payment Processing
and Sanction
Screening
3 Capital Management
4 Treasury Accounting
Envisioned Brighthouse Capability Maturity
Cash Management LEADING
Payment Processing and Sanction
Screening
LEADING
 Collection of all cash balances is fully automated, and data collection is standard and
available to use immediately without any further manipulation.
 Treasury has near real-time visibility into at least 95% of the company’s daily cash
balances.
 Cash positioning process is effective at least 95% of the time with minimal variances.
 Cash is concentrated automatically through a Treasury Management System, where
automated sweeps are not available or cost effective
 Short, medium and long term forecasts are coordinated and fully automated between
treasury and other functional areas.
 Treasury centralizes execution of funding and investments through a single platform
and deals are tracked within a central repository for reporting and settlement.
 95% of all treasury payments are executed from a treasury management system.
 Standard payment practices are established across all functional areas.
 All settlement of intercompany funding is standardized and automated to the extent
possible.
 95% of all non-treasury payments are automated into the cash position for forecasting
purposes
 Transaction lifecycle is automated to capture confirmations for all payments
 Sanction screening is automated through a single source for 100% of all payments sent
across all functions.
Capital Management LEADING Treasury Accounting STRONG
 Detailed funding plan is aligned with the Company's capital agenda (target capital
structure, share buy-backs, target leverage ratios, dividend policy) is communicated to
the financial community, including investors, credit ratings agencies, and analysts.
 Material changes to the funding plan and financing strategy are reviewed with, and
approved by the Board of Directors
 Treasury is responsible for proactive management of the relationship with rating
agencies.
 LTD covenants are consistent and focus on optimizing the Company's value.
 LTD covenant compliance process includes proactive corrective actions across the
organization, should the Company's performance result in a breach of any (or all) LTD
covenants.
 The LTD portfolio structure reflects the Company's risk appetite (including balance
sheet leverage level and refinancing risk) and funding requirements, with optimal
maturity profile and source of funds.
 Treasury tracks 100% of the LTD instruments and associated interest payments in a
treasury management system.
 Treasury system produces journal entries that are posted directly into the GL system(s)
based on appropriate approvals and validation process
 Month end treasury entries are manually generated using treasury management
system and manually imported into ERP.
 All cash journal entries are manually reconciled to bank statements using a treasury
management system prior to passing entries to ERP.
 Control and workflow for passing balanced entries is controlled through a treasury
management system which requires manual review.
Summarized Maturity Levels View

12. 12
Brighthouse Financial Solution Architecture

13. 13
Brighthouse Financial Enterprise Roadmap

14. 14
Implementation Highlights
 Reporting: Prior Day/Current Day
Reporting for 7 Banks
 Users: 160+ Users both Internal and
External
 16 Payment approval tiers ranging from
$1,500 to $500M+
 Bank Accounts: 750 Bank accounts
 Workflows: 20+ payment workflows
 Transaction Types (Budget Codes) :
200+

15. 15
Brighthouse Financial Operational Volumes
Imported - Blind Routed
Files, 953,060 , 49%
Imported -
Aladdin 330 File,
582,725 , 30%
Kyriba
Generated ,
394,056 , 21% Manually
Created, 3,698 ,
0%
Monthly Forecasted Transaction Totals Payment Volumes
 950,000 outbound blind-routed ACH
payments
 1,000 payments to OFAC/month
 2,500 wires released/month
 $5B of internal/external wires
processed each month

16. 16
Questions?

17. THANK YOU
• Karen Jeffries – Director, Cash Management
17
• Ehren Moeller – Senior Manager