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Ame ric a n I Ame ric a n I nte rna tio na l Gro up I nte rna tio na l Gro up, I nc nc . F o urth Qua rte r 2011 Re sults Co nfe re nc e Ca ll Pre se nta tio n Co nfe re nc e Ca ll Pre se nta tio n F e b rua ry 24, 2012 Ca utio na ry

  1. Ame ric a n I Ame ric a n I nte rna tio na l Gro up I nte rna tio na l Gro up, I nc nc . F o urth Qua rte r 2011 Re sults Co nfe re nc e Ca ll Pre se nta tio n Co nfe re nc e Ca ll Pre se nta tio n F e b rua ry 24, 2012

  2. Ca utio na ry Sta te me nt Re g a rding Pro je c tio ns a nd Ca utio na ry Sta te me nt Re g a rding Pro je c tio ns a nd Othe r I nfo rma tio n Ab o ut F uture E ve nts T his do c ume nt a nd the re ma rks ma de within this pre se nta tio n ma y inc lude pro je c tio ns, g o a ls, a ssumptio ns a nd sta te me nts tha t ma y c o nstitute “fo rwa rd-lo o king sta te me nts” within the me a ning o f the Priva te Se c uritie s L itig a tio n Re fo rm Ac t o f 1995. T he se pro je c tio ns, g o a ls, a ssumptio ns a nd sta te me nts a re no t histo ric a l fa c ts b ut inste a d re pre se nt o nly AI p j , g , p p y G’ s b e lie f re g a rding future e ve nts, ma ny o f whic h, b y the ir na ture , a re inhe re ntly unc e rta in a nd o utside AI G’ s c o ntro l. T he se pro je c tio ns, g o a ls, a ssumptio ns a nd sta te me nts inc lude sta te me nts pre c e de d b y, fo llo we d b y o r inc luding wo rds suc h a s “b e lie ve ”, “a ntic ipa te ”, “e xpe c t”, “inte nd”, “pla n”, “vie w”, “ta rg e t”, o r “e stima te ”. I t is po ssib le tha t AI G’ s a c tua l re sults a nd fina nc ia l c o nditio n will diffe r, po ssib ly ma te ria lly, fro m the re sults a nd fina nc ia l c o nditio n indic a te d in the se pro je c tio ns, g o a ls, a ssumptio ns a nd sta te me nts. F a c to rs tha t c o uld c a use AI G’ s a c tua l re sults to diffe r, po ssib ly ma te ria lly, fro m tho se in the spe c ific pro je c tio ns, g o a ls, a ssumptio ns a nd sta te me nts inc lude a c tio ns b y c re dit ra ting a g e nc ie s; c ha ng e s in ma rke t p p j g p y g g g c o nditio ns; the o c c urre nc e o f c a ta stro phic e ve nts; sig nific a nt le g a l pro c e e ding s; c o nc e ntra tio ns in AI G’ s inve stme nt po rtfo lio s, inc luding its munic ipa l b o nd po rtfo lio ; judg me nts c o nc e rning c a sua lty insura nc e unde rwriting a nd re se rve s; judg me nts c o nc e rning de fe rre d po lic y a c q uisitio n c o sts re c o ve ra b ility; judg me nts c o nc e rning the re c o g nitio n o f de fe rre d ta x a sse ts; judg me nts c o nc e rning the re c o ve ra b ility o f a irc ra ft va lue s in I L F C’ s fle e t; a nd suc h o the r fa c to rs a s disc usse d thro ug ho ut Pa rt I , I te m 1A. Risk F a c to rs a nd in Pa rt I I , I te m 7. Ma na g e me nt's Disc ussio n a nd Ana lysis o f F ina nc ia l Co nditio n a nd Re sults o f Ope ra tio ns in AI G’ s Annua l Re po rt o n F o rm 10-K fo r the ye a r e nde d De c e mb e r 31, 2011. AI G is no t unde r a ny o b lig a tio n (a nd e xpre ssly disc la ims a ny o b lig a tio n) to upda te o r a lte r a ny pro je c tio ns, g o a ls, a ssumptio ns o r o the r sta te me nts, whe the r writte n o r o ra l, tha t ma y b e ma de fro m time to time , whe the r a s a re sult o f ne w info rma tio n, future e ve nts o r o the rwise . T his do c ume nt a nd the re ma rks ma de o ra lly ma y a lso c o nta in c e rta in no n-GAAP fina nc ia l me a sure s. T he re c o nc ilia tio n o f suc h me a sure s to the mo st c o mpa ra b le GAAP me a sure s in a c c o rda nc e with Re g ula tio n G is inc lude d in the F o urth Qua rte r 2011 F ina nc ia l Supple me nt a va ila b le in the I nve sto r I nfo rma tio n se c tio n o f AI AI G s c o rpo ra te we b site , www.a ig .c o m . G's c o rpo ra te we b site www a ig c o m I RS Circ ula r 230 Disc lo sure : T o e nsure c o mplia nc e with re q uire me nts impo se d b y the I RS, we info rm yo u tha t (i) a ny U.S. ta x a dvic e c o nta ine d in this c o mmunic a tio n (inc luding a ny a tta c hme nts) is no t inte nde d o r writte n to b e use d, a nd c a nno t b e use d, fo r the purpo se o f a vo iding pe na ltie s unde r the I nte rna l Re ve nue Co de ; (ii) a ny suc h ta x a dvic e is writte n in c o nne c tio n with the pro mo tio n o r ma rke ting o f the ma tte rs a ddre sse d; a nd (iii) if yo u a re no t the o rig ina l a ddre sse e o f this c o mmunic a tio n, yo u sho uld se e k a dvic e b a se d o n yo ur pa rtic ula r c irc umsta nc e s fro m a n inde pe nde nt a dviso r. 2

  3. 2011 Ac c o mplishme nts Se t the Sta g e fo r Sig nific a nt Va lue Cre a tio n 2011 Ac c o mplishme nts Se t the Sta g e fo r Sig nific a nt Va lue Cre a tio n Ke y 2011 Ac tions Implic ations 2012 F oc us   Pro fita b le  F I nc re a se d RBNY Cre dit F a c ility re pa yme nt $20.7 b n Co mple te d g ro wth o f c o re fina nc ia l Re c a pita liza tio n Re c a pita liza tio n  U.S. T U S T re a sury Pre fe rre d e xc ha ng e P f d h $47 b $47 b n b usine sse s i fle xib ility  Sa le o f AI G Sta r & E diso n $4.8 b n Clo se d  Sa le o f Na n Sha n $2.2 b n Dive stiture s   Ac tive c a pita l F o c use d  Sa le o f Me tL ife se c uritie s $9.6 b n ma na g e me nt po rtfo lio o f b usine sse s  Re vo lving Cre dit F a c ility $4.5 b n Stre ng the ne d  Co nting e nt Ca pita l No te s $500 mm L iq uidity  Co ntinue d de -  I L F C Cre dit F a c ilitie s $2.3 b n  le ve ring , de - Sta b ilize d risking a nd ra ting s g  Sa le o f AI  Sa le o f AI $8.7 b n (1) $8 7 b n (1) G sha re s G sha re s mo ne tiza tio n o f Ac c e sse d no n-c o re a sse ts  AI Ca pita l G se nio r de b t issua nc e $2.0 b n Ma rke ts  I L F C se nio r de b t issua nc e $4.6 b n  I mpro ve d o pe ra ting  Se nio r de b t fo r hyb rid e xc ha ng e Co ntinue d $2.4 b n  Pre pa ra tio n fo r p pe rfo rma nc e Ca pita l Ca pita l F e d o ve rsig ht  Sha re re purc ha se a utho riza tio n $1.0 b n Ma na g e me nt  I mpro ve d o pe ra ting pe rfo rma nc e  Co mple te d c a sh re de plo yme nt Re invig o ra te d Co re Busine sse s  Stro ng divide nds a nd no te St di id d d t $3.0 b n re pa yme nts fro m sub sidia rie s 1) I nc lude s De pa rtme nt o f the T re a sury pro c e e ds o f $5.8 b illio n. 3

  4. F F o urth Qua rte r 2011 K o urth Qua rte r 2011 K e y T e y T he me s he me s Highlights Note wor thy Ite ms  Sig nific a nt CAT lo sse s a t Cha rtis  U.S. / Ca na da +4% Ca pturing ra te inc re a se s a t  Wo rke rs Co mp. & Pro pe rty +8% Cha rtis  Hig he r tha n e xpe c te d a c c ide nt ye a r  Ne t fa vo ra b le de ve lo pme nt Be nig n Cha rtis re se rve lo sse s in Wo rke rs Co mp. a nd Pro pe rty de ve lo pme nt p $13 mm $  L  Cha rtis $629 mm o we r a lte rna tive inve stme nt re turns Ste a dy divide nds fro m  SAF insura nc e c o mpa nie s G $324 mm  F a vo ra b le litig a tio n se ttle me nt; I BNR  Re ta il life sa le s +9% Stro ng life sa le s a nd sta b le ne t c ha rg e a t SAF G  Ne t flo ws $673 mm flo ws a t SAF fl t SAF G G N t fl $673  Co ntinue d lo w inte re st ra te  NI Stro ng g ro wth a nd de c lining W +$3.8 b n e nviro nme nt  De linq ue nc y c o unts (19%) de linq ue nc ie s a t UGC DT DT A va lua tio n a llo wa nc e A va lua tio n a llo wa nc e  $17.7 b n $ b re le a se d No te : Pe rc e nta g e c ha ng e s a re to fo urth q ua rte r o f 2010. 4

  5. F F ina nc ia l Hig hlig hts ina nc ia l Hig hlig hts GAAP re po rte d re sults in 4Q11 re fle c t a U.S. c o nso lida te d inc o me ta x g ro up de fe rre d ta x a sse t va lua tio n a llo wa nc e re le a se o f $17.7 b illio n ($9.34 pe r sha re ). Fo urth Q ua rte r ($ in millions, e xc e pt e arnings pe r share ) 2011 2010 C ha ng e $21,202 (1) Re ve nue s $17,409 (17.9)% 11,176 (1) Ne t inc o m e a ttrib uta b le to AIG 19,798 77.1% Afte r- ta x o pe ra ting inc o m e (lo ss) a ttrib uta b le to AIG $1,558 $(2,214) N/ M Dilute d e a rning s pe r c o m m o n sha re : Ne t Inc o me a ttrib uta b le to AIG $10.43 $16.60 (37.2)% Afte r-ta x o p e ra ting inc o me (lo ss) a ttrib uta b le to AIG 0.82 (15.99) N/ M $46.80 (2) Bo o k va lue pe r c o m m o n sha re $55.33 18.2% 1) T he 2010 GAAP re sults inc lude the c o nso lida te d re sults o f AI A prio r to sa le a nd a n a fte r-ta x g a in o n sa le o f dive ste d b usine sse s o f $13.5 b illio n, ne ithe r o f 5 whic h is re fle c te d in a fte r-ta x o pe ra ting inc o me . 2) Pro fo rma g iving e ffe c t to the Re c a pita liza tio n a nd c o mmo n sha re s issue d o n c o nve rsio n o f e q uity units.

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