MetLife’s Sustainable Financing Framework facilitates alignment of our business and investment activities to drive a sustainable future. The framework guides our issuances of green, social and sustainable bonds, term loans, preferred stock, subordinated notes and funding agreements by MetLife, Inc. and its subsidiaries, including Metropolitan Life Insurance Company and Metropolitan Tower Life Insurance Company.

MetLife’s Sustainable Financing Council, comprising members of the Office of the Chief Investment Officer, Corporate Treasury and the global Sustainability function, meets regularly and is responsible for the review and selection of eligible assets.

As part of the framework, MetLife has committed to publishing an annual Sustainable Financing Report, which includes a summary of outstanding MetLife Sustainable Financing issuances, including issuance date, size, maturity date, currency and format.

The 2022 Sustainable Financing Report is available on our website. It details the final allocation by Metropolitan Life Insurance Company of amounts equal to the net funding agreement proceeds in connection with its Sustainable Financings through May 2022. For the two outstanding issuances reported through this time period, eligible assets’ use of proceeds and impact metrics are provided, as is a description of the allocation methodology and qualified independent external review process. MetLife’s Sustainable Financing Council has determined the use of all such proceeds complies with the MetLife Sustainable Financing Framework.

$500 Million Sustainability Funding Agreement-Backed Note

In 2022, Metropolitan Life Insurance Company (MLIC) issued a $500 million sustainability-focused funding agreement in connection with a Metropolitan Life Global Funding I issuance of funding agreement-backed notes. MLIC intends to allocate an amount equal to the net proceeds from the sale to new and/or existing green and social assets that meet the eligibility criteria. This transaction represents the third funding agreement aligned with MetLife’s Sustainability Financing Framework.

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