FIDELITY NATIONAL FINANCIAL ANNOUNCES A PLANNED TRANSACTION TO DISTRIBUTE 15% OWNERSHIP OF F&G TO FNF SHAREHOLDERS

~ F&G Shares to be Publicly Shown As a result of a Partial Spin-off ~

~ FNF to Retain 85% Control of F&G ~

JACKSONVILLE, Fla., March 16, 2022 /PRNewswire/ — Fidelity National Monetary, Inc.® (NYSE: FNF) (“FNF” or the ‘Company’), a top supplier of title insurance policies and transaction companies to the true estate and home loan industries, right now declared its intention to dividend to FNF shareholders, on a pro rata basis, 15% of the typical inventory of its wholly-owned subsidiary, F&G Annuities & Daily life, Inc. (“F&G”), a main supplier of annuity and existence insurance policy merchandise. FNF will retain command of F&G by means of an 85% ownership stake and continues to be fully commited to F&G’s development and prolonged-time period good results.

The distribution was permitted by FNF’s Board of Administrators on March 14, 2022. The Board of Directors believes that the community listing of F&G shares by a dividend to FNF shareholders will unlock the worth of both of those sector primary organizations. The separation is supposed to be structured as a taxable dividend to FNF shareholders and is specific to be done in the 3rd quarter of 2022.

William P. Foley, II, Chairman of the Board of FNF, commented, “F&G has exceeded all of our anticipations having grown belongings less than management by 38% to $36.5 billion because our acquisition in June of 2020 and proving our strategic rationale for the offer. FNF’s balance sheet authorized a credit rating scores up grade of F&G and accelerated its development by moving into new distribution channels. Even though this has performed out substantially far better than we experienced expected, the industry has not acknowledged the worth creation that has taken place at F&G. We believe that that the best way to unlock this value is to publicly record F&G via a dividend to our shareholders.”

Mike Nolan, Main Government Officer of FNF, mentioned, “F&G delivers our Organization with a countercyclical revenue stream that is poised to reward from the present-day surroundings as interest charges increase. Additionally, as F&G has entered new markets, income progress has accelerated and belongings under administration have developed nicely ahead of our expectations. This positions F&G to give sturdy dollars flows and earnings to FNF in excess of the coming many years. By retaining 85% possession of F&G, we will go on to advantage from their expansion whilst also unlocking the considerable value that has been and will go on to be produced. Importantly, we remain fully commited to F&G, its employees and prospects.”

Chris Blunt, President and Main Executive Officer of F&G, added, “FNF is taking the future action to realize our good results by announcing its intention to just take F&G general public by way of this transaction. This is an extraordinary accomplishment for F&G, and a single that inherently improves the long run benefit of our company and assures the ongoing expense in our business. We’ve absent from a $4 billion once-a-year revenue retail annuity provider featuring a person product by 1 channel, to a additional than $10 billion once-a-year profits insurer giving life, annuities, and institutional options across 5 unique channels. This changeover to staying a publicly traded enterprise is a vote of self confidence for our enterprise, our future probable, and all of our personnel who have worked so challenging here at F&G to make this good results a actuality.”

Transaction Highlights

The function of the distribution is to greatly enhance and more fully understand the all round market place benefit of each and every organization. To help the strong growth prospective clients of F&G, FNF will convert its $400 million intercompany bank loan to F&G into F&G equity prior to the distribution. FNF will preserve 85% of F&G’s prevalent stock, continuing to keep manage and major ownership. FNF intends to distribute 15% of F&G’s popular inventory to FNF shareholders in order to fortify the standalone price of F&G, as well as to permit buyers to devote straight in F&G.

Chris Blunt, President and Main Executive Officer of F&G, will remain in his function main F&G
No adjust is anticipated to FNF or F&G’s method, operations or administration groups
F&G will continue to reward from FNF’s the greater part possession, assume profits advancement to continue being strong by the growth into new distribution channels, and have accessibility to public marketplaces over time, as necessary
FNF will maintain its capital allocation method targeted on returning money to shareholders by the Firm’s quarterly dividend and share repurchase application when creating strategic investments in the Company’s organization

Transaction Facts

On completion of the distribution, shareholders will individual stock in equally publicly traded organizations having gained a taxable dividend of 15% of F&G in the aggregate
F&G shares will be publicly listed and trade on the New York Stock Exchange
FNF will sustain handle more than, and an 85% ownership stake in, F&G
The distribution is anticipated to be done in the third quarter of 2022
The transaction is topic to many problems which includes the remaining approval by the FNF Board of Administrators, filing and effectiveness of a Variety 10 registration assertion beneath the Securities Exchange Act of 1934, as amended, and any applicable regulatory approvals
The report date and distribution settlement date will be decided by FNF’s Board of Directors prior to the distribution

This push launch is not an give to promote, or a solicitation of an supply to purchase, any securities.

BofA Securities, Inc. is acting as FNF’s economic advisor in relationship with the proposed distribution.

About Fidelity Countrywide Economical, Inc.

Fidelity Nationwide Money, Inc. (NYSE: FNF) is a top service provider of title insurance policy and transaction companies to the true estate and mortgage loan industries. FNF is the nation’s largest title insurance enterprise by its title insurance policy underwriters – Fidelity Countrywide Title, Chicago Title, Commonwealth Land Title, Alamo Title and Countrywide Title of New York – that collectively problem a lot more title coverage policies than any other title business in the United States. More details about FNF can be discovered at www.fnf.com.

About F&G

F&G is portion of the FNF spouse and children of corporations. F&G is fully commited to encouraging Americans turn their aspirations into actuality. F&G is a primary provider of coverage options serving retail annuity and existence prospects and institutional clientele and is headquartered in Des Moines, Iowa. For far more facts, you should visit fglife.com.

Ahead-On the lookout Statements and Chance Components

This push launch includes forward-searching statements that involve a quantity of risks and uncertainties. Statements that are not historical points, which includes statements relating to our expectations, hopes, intentions or t
actics relating to the long term are forward-looking statements including the potential to entire the spin-off and record on the NYSE. Ahead-seeking statements are centered on management’s beliefs, as nicely as assumptions built by, and data at this time out there to, management. Mainly because these kinds of statements are dependent on anticipations as to long run fiscal and functioning success and are not statements of reality, precise success might differ materially from those people projected. We undertake no obligation to update any ahead-hunting statements, no matter if as a end result of new data, long term events or or else. The challenges and uncertainties which ahead-searching statements are matter to include things like, but are not limited to: diversion of management’s interest and the probable impact of the consummation of the F&G transaction on associations, including with staff, suppliers, prospects and competition our ability to properly notice the predicted added benefits of the spin-off transaction the capability to satisfy any required disorders (including any relevant regulatory approvals) to consummate the spin-off transaction inside the believed timeframe or at all the remaining phrases and ailments of the spin-off transaction, including the nature of agreements and arrangements amongst FNF and F&G next any this sort of transaction, the costs of any these transaction, and the character and quantity of indebtedness incurred by F&G modifications in standard economic, business enterprise, political crisis, war and COVID-19 circumstances, like alterations in the fiscal marketplaces weak spot or adverse variations in the level of true estate action, which may possibly be triggered by, between other issues, large or expanding desire rates, a confined offer of house loan funding or a weak U. S. economy our opportunity lack of ability to come across appropriate acquisition candidates our dependence on distributions from our title insurance underwriters as a main supply of money stream considerable competition that F&G and our running subsidiaries experience compliance with in depth government regulation of our functioning subsidiaries and other challenges detailed in the “Statement About Ahead-Searching Data,” “Possibility Variables” and other sections of FNF’s Sort 10-K and other filings with the Securities and Trade Commission (SEC).

FNF-E

Check out unique content:https://www.prnewswire.com/news-releases/fidelity-nationwide-money-announces-a-planned-transaction-to-distribute-15-ownership-of-fg-to-fnf-shareholders-301503681.html