Q2 2026 Earnings

Commercial Mortgage Loans Weighted-Average DSCR

2.59

• For TREs, the Company’s key credit quality indicators include performance of the loan and loan-to-value (LTV), which is calculated by dividing the current outstanding loan balance by the estimated property value, primarily using values at origination. Given that TREs involve properties undergoing a repositioning of their commercial profile, LTV provides the most insight into the credit risk of the loan. The Company monitors the performance of the loans periodically, but not less frequently than quarterly. The monitoring process also focuses on higher risk loans, which include those that are delinquent or for which foreclosure or deed in lieu of foreclosure is anticipated. • For CMLs, the Company’s key credit quality indicators include LTV and debt service coverage ratios (DSCR). DSCR is the most recently available net operating income of the underlying property compared to the required debt service of the loan. • For other loans, the Company’s key credit quality indicator is credit ratings. The Company monitors these credit ratings periodically, but not less frequently than quarterly. The following tables present as of June 30, 2026 the amortized cost basis of TREs, CMLs, MMLs, and other loans by year of origination and key credit quality indicator. Transitional Real Estate Loans (In millions) 2026 2025 2024 2023 2022 Prior Total Loan-to-Value Ratio: 0%-59.99% $ 0 $ 0 $ 0 $ 0 $ 141 $ 157 $ 298 60%-69.99% 0 0 0 0 324 304 628 70%-79.99% 0 0 0 14 515 457 986 80% or greater 65 0 0 0 349 1,018 1,432 Total $ 65 $ 0 $ 0 $ 14 $ 1,329 $ 1,936 $ 3,344 Current-period gross writeoffs: $ 0 $ 0 $ 0 $ 0 $ 8 $ 0 $ 8 Commercial Mortgage Loans (In millions) 2026 2025 2024 2023 2022 Prior Total Weighted-Average DSCR Loan-to-Value Ratio: 0%-59.99% $ 35 $ 11 $ 0 $ 31 $ 0 $ 1,061 $ 1,138 2.80 60%-69.99% 13 20 0 0 0 77 110 1.91 70%-79.99% 0 0 0 0 0 72 72 1.45 80% or greater 0 0 12 0 0 36 48 0.87 Total $ 48 $ 31 $ 12 $ 31 $ 0 $ 1,246 $ 1,368 2.59 Weighted Average DSCR 1.90 1.83 1.09 2.74 0.00 2.65 Current-period gross writeoffs: $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0

Loans 90 Days or More Past Due

$732.0M

Past Due and Nonaccrual Loans The following tables present an aging of past due and nonaccrual loans at amortized cost, before allowance for credit losses, as of the periods presented. June 30, 2026 (In millions) Current Less Than 90 Days Past Due 90 Days or More Past Due (1) Total Past Due Total Loans Nonaccrual Status Transitional real estate loans $ 2,556 $ 153 $ 635 $ 788 $ 3,344 $ 700 Commercial mortgage loans 1,368 0 0 0 1,368 0 Middle market loans 4,490 10 97 107 4,597 97 Other loans 578 0 0 0 578 0 Total $ 8,992 $ 163 $ 732 $ 895 $ 9,887 $ 797 (1) As of June 30, 2026, there were no loans that were 90 days or more past due that continued to accrue interest.

Loans on Nonaccrual Status

$797.0M

Past Due and Nonaccrual Loans The following tables present an aging of past due and nonaccrual loans at amortized cost, before allowance for credit losses, as of the periods presented. June 30, 2026 (In millions) Current Less Than 90 Days Past Due 90 Days or More Past Due (1) Total Past Due Total Loans Nonaccrual Status Transitional real estate loans $ 2,556 $ 153 $ 635 $ 788 $ 3,344 $ 700 Commercial mortgage loans 1,368 0 0 0 1,368 0 Middle market loans 4,490 10 97 107 4,597 97 Other loans 578 0 0 0 578 0 Total $ 8,992 $ 163 $ 732 $ 895 $ 9,887 $ 797 (1) As of June 30, 2026, there were no loans that were 90 days or more past due that continued to accrue interest.

Total Past-Due Loans

$895.0M

Past Due and Nonaccrual Loans The following tables present an aging of past due and nonaccrual loans at amortized cost, before allowance for credit losses, as of the periods presented. June 30, 2026 (In millions) Current Less Than 90 Days Past Due 90 Days or More Past Due (1) Total Past Due Total Loans Nonaccrual Status Transitional real estate loans $ 2,556 $ 153 $ 635 $ 788 $ 3,344 $ 700 Commercial mortgage loans 1,368 0 0 0 1,368 0 Middle market loans 4,490 10 97 107 4,597 97 Other loans 578 0 0 0 578 0 Total $ 8,992 $ 163 $ 732 $ 895 $ 9,887 $ 797 (1) As of June 30, 2026, there were no loans that were 90 days or more past due that continued to accrue interest.

Aflac Japan Bank Distribution Partners

356

The following table details the contributions to Aflac Japan's new annualized premium sales by agency type for the three-month periods ended June 30. 2026 2025 Independent corporate and individual 50.0 % 46.8 % Affiliated corporate (1) 47.3 50.4 Bank 2.7 2.8 Total 100.0 % 100.0 % (1) Includes Japan Post Group, Dai-ichi Life and Daido Life During the three-month period ended June 30, 2026, Aflac Japan recruited 139 new sales agencies. At June 30, 2026, Aflac Japan was represented by approximately 6,200 sales agencies, with approximately 111,000 licensed sales associates employed by those agencies. The number of sales agencies has declined in recent years due to Aflac Japan's focus on supporting agencies with strong management frameworks, high productivity and more producing agents. At June 30, 2026, Aflac Japan had agreements to sell its products at 356 banks, approximately 90% of the total number of banks in Japan.

Aflac Japan Bank Distribution Penetration

90.0%

The following table details the contributions to Aflac Japan's new annualized premium sales by agency type for the three-month periods ended June 30. 2026 2025 Independent corporate and individual 50.0 % 46.8 % Affiliated corporate (1) 47.3 50.4 Bank 2.7 2.8 Total 100.0 % 100.0 % (1) Includes Japan Post Group, Dai-ichi Life and Daido Life During the three-month period ended June 30, 2026, Aflac Japan recruited 139 new sales agencies. At June 30, 2026, Aflac Japan was represented by approximately 6,200 sales agencies, with approximately 111,000 licensed sales associates employed by those agencies. The number of sales agencies has declined in recent years due to Aflac Japan's focus on supporting agencies with strong management frameworks, high productivity and more producing agents. At June 30, 2026, Aflac Japan had agreements to sell its products at 356 banks, approximately 90% of the total number of banks in Japan.

Aflac Japan Licensed Sales Associates

111.0K

The following table details the contributions to Aflac Japan's new annualized premium sales by agency type for the three-month periods ended June 30. 2026 2025 Independent corporate and individual 50.0 % 46.8 % Affiliated corporate (1) 47.3 50.4 Bank 2.7 2.8 Total 100.0 % 100.0 % (1) Includes Japan Post Group, Dai-ichi Life and Daido Life During the three-month period ended June 30, 2026, Aflac Japan recruited 139 new sales agencies. At June 30, 2026, Aflac Japan was represented by approximately 6,200 sales agencies, with approximately 111,000 licensed sales associates employed by those agencies. The number of sales agencies has declined in recent years due to Aflac Japan's focus on supporting agencies with strong management frameworks, high productivity and more producing agents. At June 30, 2026, Aflac Japan had agreements to sell its products at 356 banks, approximately 90% of the total number of banks in Japan.

Aflac Japan New Sales Agencies Recruited

139

The following table details the contributions to Aflac Japan's new annualized premium sales by agency type for the three-month periods ended June 30. 2026 2025 Independent corporate and individual 50.0 % 46.8 % Affiliated corporate (1) 47.3 50.4 Bank 2.7 2.8 Total 100.0 % 100.0 % (1) Includes Japan Post Group, Dai-ichi Life and Daido Life During the three-month period ended June 30, 2026, Aflac Japan recruited 139 new sales agencies. At June 30, 2026, Aflac Japan was represented by approximately 6,200 sales agencies, with approximately 111,000 licensed sales associates employed by those agencies. The number of sales agencies has declined in recent years due to Aflac Japan's focus on supporting agencies with strong management frameworks, high productivity and more producing agents. At June 30, 2026, Aflac Japan had agreements to sell its products at 356 banks, approximately 90% of the total number of banks in Japan.

Aflac Japan Sales Agencies

6.2K

The following table details the contributions to Aflac Japan's new annualized premium sales by agency type for the three-month periods ended June 30. 2026 2025 Independent corporate and individual 50.0 % 46.8 % Affiliated corporate (1) 47.3 50.4 Bank 2.7 2.8 Total 100.0 % 100.0 % (1) Includes Japan Post Group, Dai-ichi Life and Daido Life During the three-month period ended June 30, 2026, Aflac Japan recruited 139 new sales agencies. At June 30, 2026, Aflac Japan was represented by approximately 6,200 sales agencies, with approximately 111,000 licensed sales associates employed by those agencies. The number of sales agencies has declined in recent years due to Aflac Japan's focus on supporting agencies with strong management frameworks, high productivity and more producing agents. At June 30, 2026, Aflac Japan had agreements to sell its products at 356 banks, approximately 90% of the total number of banks in Japan.

Aflac U.S. Average Weekly Producers

5.1K

The following table details the contributions to Aflac's U.S. new annualized premium sales by major insurance product category for the periods ended June 30. Three Months Six Months 2026 2025 2026 2025 Accident 18.2 % 19.0 % 19.0 % 20.0 % Disability 26.3 27.7 24.2 25.3 Critical care (1) 17.2 21.8 18.7 21.8 Hospital indemnity 11.8 11.9 12.6 13.3 Dental/vision 7.5 6.5 7.6 6.7 Life 19.0 13.1 17.9 12.9 Total 100.0 % 100.0 % 100.0 % 100.0 % (1) Includes cancer, critical illness, and hospital intensive care products In the second quarter of 2026, the Aflac U.S. sales force included an average of approximately 5,100 U.S. agents, including brokers, who were actively producing business on a weekly basis. The Company believes that this average weekly producer equivalent metric allows sales management to monitor progress and needs, as well as serve as a leading indicator of future production capacity.

Aflac Japan Adjusted Expense Ratio

20.2%

The following table presents a summary of operating ratios in Japanese yen terms for Aflac Japan followed by a discussion of the significant drivers of changes in operating ratios in Japanese yen compared to the same periods in the previous year. Three Months Ended June 30, Six Months Ended June 30, Ratios to total adjusted revenues: 2026 2025 2026 2025 Total benefits and claims, net 45.5 % 47.4 % 45.5 % 48.0 % Adjusted expenses: Amortization of deferred policy acquisition costs 3.6 3.4 3.6 3.4 Insurance commissions 4.3 4.5 4.4 4.6 Insurance and other expenses 12.3 12.7 11.9 12.1 Total adjusted expenses 20.2 20.6 19.8 20.1 Pretax adjusted earnings 34.3 32.0 34.6 31.9 Ratios to total premiums: Total benefits and claims, net 64.0 % 66.5 % 63.4 % 66.2 % Adjusted expenses: Amortization of deferred policy acquisition costs 5.0 4.8 5.0 4.7 • For the three- and six-month periods ended June 30, 2026, the total benefits and claims to total premiums ratio decreased primarily due to lower benefits reflecting the impact of annual cash flow assumption updates performed in the third quarter of 2025 and higher reserve remeasurement gains. For the full year of 2026, the Company now expects Aflac Japan to generate a benefit ratio at the high end of the range of 60% to 63%, excluding the annual actuarial assumption review in the third quarter. • For the three- and six-month periods ended June 30, 2026, the total adjusted expense ratio decreased primarily due to the decrease in total adjusted expenses, mostly offset by the decrease in total adjusted revenues. • In total, the pretax adjusted profit margin increased in the three- and six-month periods ended June 30, 2026 primarily due to the lower benefit ratio.

Aflac U.S. Adjusted Expense Ratio

36.1%

Annualized premiums in force increased 4.5% to $6.8 billion at June 30, 2026, compared with $6.5 billion at June 30, 2025. The following table presents a summary of operating ratios for Aflac U.S. followed by a discussion of the significant drivers of changes in operating ratios compared to the same periods in the previous year. Three Months Ended June 30, Six Months Ended June 30, Ratios to total adjusted revenues: 2026 2025 2026 2025 Total benefits and claims 43.0 % 41.2 % 42.1 % 41.4 % Adjusted expenses: Amortization of deferred policy acquisition costs 8.0 7.9 8.0 7.9 Insurance commissions 8.2 8.0 8.1 7.9 Insurance and other expenses 19.9 20.4 21.1 21.1 Total adjusted expenses 36.1 36.3 37.2 37.0 Pretax adjusted earnings 20.9 22.5 20.6 21.6 Ratios to total premiums: Total benefits and claims 49.5 % 47.3 % 48.4 % 47.5 % Adjusted expenses: Amortization of deferred policy acquisition costs 9.2 9.0 9.2 9.1 • For the three- and six-month periods ended June 30, 2026, the total benefits and claims to total premiums ratio increased primarily due to higher incurred claims for certain group products largely associated with the growth in net earned premiums. • For the three- and six-month periods ended June 30, 2026, the total adjusted expense ratio remained relatively stable compared with the corresponding prior year periods. • In total, the pretax adjusted profit margin decreased in the three- and six-month periods ended June 30, 2026, primarily due to the higher benefit ratio. 95

Aflac Japan New Money Yield

4.2%

The following table presents the results of Aflac Japan’s investment yields for the periods ended and as of June 30. Three Months Six Months 2026 2025 2026 2025 Total purchases for the period (in millions) (1) $ 4,352 $ 2,658 $ 6,571 $ 9,056 New money yield (1),(2) 4.19 % 5.26 % 4.45 % 3.85 % Return on average invested assets (3) 3.18 3.38 3.12 3.19 Portfolio book yield, including U.S. dollar-denominated investments, end of period (1),(2) 3.39 % 3.26 % 3.39 % 3.26 % (1) Includes fixed maturity securities, commercial mortgage and other loans, equity securities, and excludes alternative investments in limited partnerships (2) Reported on a gross yield basis; excludes investment expenses, external management fees and amortized hedge costs (3) Net of investment expenses and amortized hedge costs, year-to-date number reflected on a quarterly average basis

Aflac Japan Portfolio Book Yield

3.4%

The following table presents the results of Aflac Japan’s investment yields for the periods ended and as of June 30. Three Months Six Months 2026 2025 2026 2025 Total purchases for the period (in millions) (1) $ 4,352 $ 2,658 $ 6,571 $ 9,056 New money yield (1),(2) 4.19 % 5.26 % 4.45 % 3.85 % Return on average invested assets (3) 3.18 3.38 3.12 3.19 Portfolio book yield, including U.S. dollar-denominated investments, end of period (1),(2) 3.39 % 3.26 % 3.39 % 3.26 % (1) Includes fixed maturity securities, commercial mortgage and other loans, equity securities, and excludes alternative investments in limited partnerships (2) Reported on a gross yield basis; excludes investment expenses, external management fees and amortized hedge costs (3) Net of investment expenses and amortized hedge costs, year-to-date number reflected on a quarterly average basis

Aflac Japan Return on Average Invested Assets

3.2%

The following table presents the results of Aflac Japan’s investment yields for the periods ended and as of June 30. Three Months Six Months 2026 2025 2026 2025 Total purchases for the period (in millions) (1) $ 4,352 $ 2,658 $ 6,571 $ 9,056 New money yield (1),(2) 4.19 % 5.26 % 4.45 % 3.85 % Return on average invested assets (3) 3.18 3.38 3.12 3.19 Portfolio book yield, including U.S. dollar-denominated investments, end of period (1),(2) 3.39 % 3.26 % 3.39 % 3.26 % (1) Includes fixed maturity securities, commercial mortgage and other loans, equity securities, and excludes alternative investments in limited partnerships (2) Reported on a gross yield basis; excludes investment expenses, external management fees and amortized hedge costs (3) Net of investment expenses and amortized hedge costs, year-to-date number reflected on a quarterly average basis

Aflac U.S. New Money Yield

6.4%

The following table presents the results of Aflac's U.S. investment yields for the periods ended and as of June 30. Three Months Six Months 2026 2025 2026 2025 Total purchases for period (in millions) (1) $ 693 $ 327 $ 1,371 $ 819 New money yield (1),(2) 6.37 % 6.97 % 6.30 % 6.75 % Return on average invested assets (3) 4.98 4.94 4.96 4.92 Portfolio book yield, end of period (1),(2) 5.51 % 5.57 % 5.51 % 5.57 % (1) Includes fixed maturity securities, commercial mortgage and other loans, equity securities, and excludes alternative investments in limited partnerships (2) Reported on a gross yield basis; excludes investment expenses and external management fees (3) Net of investment expenses, year-to-date number reflected on a quarterly average basis

Aflac U.S. Portfolio Book Yield

5.5%

The following table presents the results of Aflac's U.S. investment yields for the periods ended and as of June 30. Three Months Six Months 2026 2025 2026 2025 Total purchases for period (in millions) (1) $ 693 $ 327 $ 1,371 $ 819 New money yield (1),(2) 6.37 % 6.97 % 6.30 % 6.75 % Return on average invested assets (3) 4.98 4.94 4.96 4.92 Portfolio book yield, end of period (1),(2) 5.51 % 5.57 % 5.51 % 5.57 % (1) Includes fixed maturity securities, commercial mortgage and other loans, equity securities, and excludes alternative investments in limited partnerships (2) Reported on a gross yield basis; excludes investment expenses and external management fees (3) Net of investment expenses, year-to-date number reflected on a quarterly average basis

Aflac U.S. Return on Average Invested Assets

5.0%

The following table presents the results of Aflac's U.S. investment yields for the periods ended and as of June 30. Three Months Six Months 2026 2025 2026 2025 Total purchases for period (in millions) (1) $ 693 $ 327 $ 1,371 $ 819 New money yield (1),(2) 6.37 % 6.97 % 6.30 % 6.75 % Return on average invested assets (3) 4.98 4.94 4.96 4.92 Portfolio book yield, end of period (1),(2) 5.51 % 5.57 % 5.51 % 5.57 % (1) Includes fixed maturity securities, commercial mortgage and other loans, equity securities, and excludes alternative investments in limited partnerships (2) Reported on a gross yield basis; excludes investment expenses and external management fees (3) Net of investment expenses, year-to-date number reflected on a quarterly average basis

Aflac Japan Annualized Premiums in Force

1160.00B

Annualized premiums in force decreased 2.7% to ¥1.16 trillion as of June 30, 2026, compared with ¥1.19 trillion as of June 30, 2025. The decrease in annualized premiums in force in yen was driven primarily by limited-pay products reaching premium paid-up status. Annualized premiums in force, translated into U.S. dollars at respective period-end foreign exchange rates, were $7.2 billion at June 30, 2026, compared with $8.2 billion at June 30, 2025. As of June 30, 2026, Aflac Japan had approximately 22 million individual policies in force in Japan, including approximately 14 million cancer policies in force.

Aflac Japan Cancer Policies in Force

14.0M

Annualized premiums in force decreased 2.7% to ¥1.16 trillion as of June 30, 2026, compared with ¥1.19 trillion as of June 30, 2025. The decrease in annualized premiums in force in yen was driven primarily by limited-pay products reaching premium paid-up status. Annualized premiums in force, translated into U.S. dollars at respective period-end foreign exchange rates, were $7.2 billion at June 30, 2026, compared with $8.2 billion at June 30, 2025. As of June 30, 2026, Aflac Japan had approximately 22 million individual policies in force in Japan, including approximately 14 million cancer policies in force.

Aflac Japan Individual Policies in Force

22.0M

Annualized premiums in force decreased 2.7% to ¥1.16 trillion as of June 30, 2026, compared with ¥1.19 trillion as of June 30, 2025. The decrease in annualized premiums in force in yen was driven primarily by limited-pay products reaching premium paid-up status. Annualized premiums in force, translated into U.S. dollars at respective period-end foreign exchange rates, were $7.2 billion at June 30, 2026, compared with $8.2 billion at June 30, 2025. As of June 30, 2026, Aflac Japan had approximately 22 million individual policies in force in Japan, including approximately 14 million cancer policies in force.

Aflac U.S. Annualized Premiums in Force

$6.80B

Annualized premiums in force increased 4.5% to $6.8 billion at June 30, 2026, compared with $6.5 billion at June 30, 2025. The following table presents a summary of operating ratios for Aflac U.S. followed by a discussion of the significant drivers of changes in operating ratios compared to the same periods in the previous year. Three Months Ended June 30, Six Months Ended June 30, Ratios to total adjusted revenues: 2026 2025 2026 2025 Total benefits and claims 43.0 % 41.2 % 42.1 % 41.4 % Adjusted expenses: Amortization of deferred policy acquisition costs 8.0 7.9 8.0 7.9 Insurance commissions 8.2 8.0 8.1 7.9 Insurance and other expenses 19.9 20.4 21.1 21.1 Total adjusted expenses 36.1 36.3 37.2 37.0 Pretax adjusted earnings 20.9 22.5 20.6 21.6 Ratios to total premiums: Total benefits and claims 49.5 % 47.3 % 48.4 % 47.5 % Adjusted expenses: Amortization of deferred policy acquisition costs 9.2 9.0 9.2 9.1 • For the three- and six-month periods ended June 30, 2026, the total benefits and claims to total premiums ratio increased primarily due to higher incurred claims for certain group products largely associated with the growth in net earned premiums. • For the three- and six-month periods ended June 30, 2026, the total adjusted expense ratio remained relatively stable compared with the corresponding prior year periods. • In total, the pretax adjusted profit margin decreased in the three- and six-month periods ended June 30, 2026, primarily due to the higher benefit ratio. 95

Aflac Japan Pretax Adjusted Profit Margin

34.3%

The following table presents a summary of operating ratios in Japanese yen terms for Aflac Japan followed by a discussion of the significant drivers of changes in operating ratios in Japanese yen compared to the same periods in the previous year. Three Months Ended June 30, Six Months Ended June 30, Ratios to total adjusted revenues: 2026 2025 2026 2025 Total benefits and claims, net 45.5 % 47.4 % 45.5 % 48.0 % Adjusted expenses: Amortization of deferred policy acquisition costs 3.6 3.4 3.6 3.4 Insurance commissions 4.3 4.5 4.4 4.6 Insurance and other expenses 12.3 12.7 11.9 12.1 Total adjusted expenses 20.2 20.6 19.8 20.1 Pretax adjusted earnings 34.3 32.0 34.6 31.9 Ratios to total premiums: Total benefits and claims, net 64.0 % 66.5 % 63.4 % 66.2 % Adjusted expenses: Amortization of deferred policy acquisition costs 5.0 4.8 5.0 4.7 • For the three- and six-month periods ended June 30, 2026, the total benefits and claims to total premiums ratio decreased primarily due to lower benefits reflecting the impact of annual cash flow assumption updates performed in the third quarter of 2025 and higher reserve remeasurement gains. For the full year of 2026, the Company now expects Aflac Japan to generate a benefit ratio at the high end of the range of 60% to 63%, excluding the annual actuarial assumption review in the third quarter. • For the three- and six-month periods ended June 30, 2026, the total adjusted expense ratio decreased primarily due to the decrease in total adjusted expenses, mostly offset by the decrease in total adjusted revenues. • In total, the pretax adjusted profit margin increased in the three- and six-month periods ended June 30, 2026 primarily due to the lower benefit ratio.

Aflac U.S. Pretax Adjusted Profit Margin

20.9%

Annualized premiums in force increased 4.5% to $6.8 billion at June 30, 2026, compared with $6.5 billion at June 30, 2025. The following table presents a summary of operating ratios for Aflac U.S. followed by a discussion of the significant drivers of changes in operating ratios compared to the same periods in the previous year. Three Months Ended June 30, Six Months Ended June 30, Ratios to total adjusted revenues: 2026 2025 2026 2025 Total benefits and claims 43.0 % 41.2 % 42.1 % 41.4 % Adjusted expenses: Amortization of deferred policy acquisition costs 8.0 7.9 8.0 7.9 Insurance commissions 8.2 8.0 8.1 7.9 Insurance and other expenses 19.9 20.4 21.1 21.1 Total adjusted expenses 36.1 36.3 37.2 37.0 Pretax adjusted earnings 20.9 22.5 20.6 21.6 Ratios to total premiums: Total benefits and claims 49.5 % 47.3 % 48.4 % 47.5 % Adjusted expenses: Amortization of deferred policy acquisition costs 9.2 9.0 9.2 9.1 • For the three- and six-month periods ended June 30, 2026, the total benefits and claims to total premiums ratio increased primarily due to higher incurred claims for certain group products largely associated with the growth in net earned premiums. • For the three- and six-month periods ended June 30, 2026, the total adjusted expense ratio remained relatively stable compared with the corresponding prior year periods. • In total, the pretax adjusted profit margin decreased in the three- and six-month periods ended June 30, 2026, primarily due to the higher benefit ratio. 95

Aflac Japan Premium Persistency

92.7%

The following table presents Aflac Japan's premium persistency on a 12-month rolling basis as of June 30. 2026 2025 Premium persistency 92.7 % 93.7 % 91 Aflac Japan Sales The following table presents Aflac Japan’s new annualized premium sales for the periods ended June 30. In Dollars In Yen Three Months Six Months Three Months Six Months (In millions of dollars and billions of yen) 2026 2025 2026 2025 2026 2025 2026 2025 New annualized premium sales $ 123 $ 143 $ 235 $ 236 ¥ 19.6 ¥ 20.7 ¥ 37.3 ¥ 34.8 Increase (decrease) over prior period (14.3) % 32.8 % (.2) % 23.0 % (5.6) % 23.2 % 7.0 % 18.7 %

Aflac U.S. Premium Persistency

79.4%

The following table presents premium persistency for Aflac U.S. on a 12-month rolling basis as of June 30. 2026 2025 Premium persistency 79.4 % 79.2 % Aflac U.S. Sales The following table presents Aflac's U.S. new annualized premium sales for the periods ended June 30. Three Months Six Months (In millions) 2026 2025 2026 2025 New annualized premium sales $ 349 $ 340 $ 667 $ 649 Increase (decrease) over prior period 2.6 % 2.7 % 2.8 % 3.1 %

Aflac Japan New Annualized Premium Sales

19.60B

The following table presents Aflac Japan's premium persistency on a 12-month rolling basis as of June 30. 2026 2025 Premium persistency 92.7 % 93.7 % 91 Aflac Japan Sales The following table presents Aflac Japan’s new annualized premium sales for the periods ended June 30. In Dollars In Yen Three Months Six Months Three Months Six Months (In millions of dollars and billions of yen) 2026 2025 2026 2025 2026 2025 2026 2025 New annualized premium sales $ 123 $ 143 $ 235 $ 236 ¥ 19.6 ¥ 20.7 ¥ 37.3 ¥ 34.8 Increase (decrease) over prior period (14.3) % 32.8 % (.2) % 23.0 % (5.6) % 23.2 % 7.0 % 18.7 %

Aflac U.S. New Annualized Premium Sales

$349.0M

The following table presents premium persistency for Aflac U.S. on a 12-month rolling basis as of June 30. 2026 2025 Premium persistency 79.4 % 79.2 % Aflac U.S. Sales The following table presents Aflac's U.S. new annualized premium sales for the periods ended June 30. Three Months Six Months (In millions) 2026 2025 2026 2025 New annualized premium sales $ 349 $ 340 $ 667 $ 649 Increase (decrease) over prior period 2.6 % 2.7 % 2.8 % 3.1 %

Aflac Japan New Sales Mix: Cancer

55.2%

The following table details the contributions to Aflac Japan's new annualized premium sales by major insurance product for the periods ended June 30. Three Months Six Months 2026 2025 2026 2025 Cancer 55.2 % 73.0 % 54.7 % 67.6 % Medical and other health 17.8 10.9 20.5 12.7 Life insurance: Tsumitasu 22.0 11.1 19.2 13.6 Ordinary life (1) 3.8 3.4 4.3 4.1 WAYS .5 1.1 .6 1.4 Other .7 .5 .7 .6 Total 100.0 % 100.0 % 100.0 % 100.0 % (1) Includes term life, whole life and child endowment

Aflac Japan New Sales Mix: Medical and Other Health

17.8%

The following table details the contributions to Aflac Japan's new annualized premium sales by major insurance product for the periods ended June 30. Three Months Six Months 2026 2025 2026 2025 Cancer 55.2 % 73.0 % 54.7 % 67.6 % Medical and other health 17.8 10.9 20.5 12.7 Life insurance: Tsumitasu 22.0 11.1 19.2 13.6 Ordinary life (1) 3.8 3.4 4.3 4.1 WAYS .5 1.1 .6 1.4 Other .7 .5 .7 .6 Total 100.0 % 100.0 % 100.0 % 100.0 % (1) Includes term life, whole life and child endowment

Aflac Japan New Sales Mix: Ordinary Life

3.8%

The following table details the contributions to Aflac Japan's new annualized premium sales by major insurance product for the periods ended June 30. Three Months Six Months 2026 2025 2026 2025 Cancer 55.2 % 73.0 % 54.7 % 67.6 % Medical and other health 17.8 10.9 20.5 12.7 Life insurance: Tsumitasu 22.0 11.1 19.2 13.6 Ordinary life (1) 3.8 3.4 4.3 4.1 WAYS .5 1.1 .6 1.4 Other .7 .5 .7 .6 Total 100.0 % 100.0 % 100.0 % 100.0 % (1) Includes term life, whole life and child endowment

Aflac Japan New Sales Mix: Other

0.7%

The following table details the contributions to Aflac Japan's new annualized premium sales by major insurance product for the periods ended June 30. Three Months Six Months 2026 2025 2026 2025 Cancer 55.2 % 73.0 % 54.7 % 67.6 % Medical and other health 17.8 10.9 20.5 12.7 Life insurance: Tsumitasu 22.0 11.1 19.2 13.6 Ordinary life (1) 3.8 3.4 4.3 4.1 WAYS .5 1.1 .6 1.4 Other .7 .5 .7 .6 Total 100.0 % 100.0 % 100.0 % 100.0 % (1) Includes term life, whole life and child endowment

Aflac Japan New Sales Mix: Tsumitasu

22.0%

The following table details the contributions to Aflac Japan's new annualized premium sales by major insurance product for the periods ended June 30. Three Months Six Months 2026 2025 2026 2025 Cancer 55.2 % 73.0 % 54.7 % 67.6 % Medical and other health 17.8 10.9 20.5 12.7 Life insurance: Tsumitasu 22.0 11.1 19.2 13.6 Ordinary life (1) 3.8 3.4 4.3 4.1 WAYS .5 1.1 .6 1.4 Other .7 .5 .7 .6 Total 100.0 % 100.0 % 100.0 % 100.0 % (1) Includes term life, whole life and child endowment

Aflac Japan New Sales Mix: WAYS

0.5%

The following table details the contributions to Aflac Japan's new annualized premium sales by major insurance product for the periods ended June 30. Three Months Six Months 2026 2025 2026 2025 Cancer 55.2 % 73.0 % 54.7 % 67.6 % Medical and other health 17.8 10.9 20.5 12.7 Life insurance: Tsumitasu 22.0 11.1 19.2 13.6 Ordinary life (1) 3.8 3.4 4.3 4.1 WAYS .5 1.1 .6 1.4 Other .7 .5 .7 .6 Total 100.0 % 100.0 % 100.0 % 100.0 % (1) Includes term life, whole life and child endowment

Aflac U.S. New Sales Mix: Accident

18.2%

The following table details the contributions to Aflac's U.S. new annualized premium sales by major insurance product category for the periods ended June 30. Three Months Six Months 2026 2025 2026 2025 Accident 18.2 % 19.0 % 19.0 % 20.0 % Disability 26.3 27.7 24.2 25.3 Critical care (1) 17.2 21.8 18.7 21.8 Hospital indemnity 11.8 11.9 12.6 13.3 Dental/vision 7.5 6.5 7.6 6.7 Life 19.0 13.1 17.9 12.9 Total 100.0 % 100.0 % 100.0 % 100.0 % (1) Includes cancer, critical illness, and hospital intensive care products In the second quarter of 2026, the Aflac U.S. sales force included an average of approximately 5,100 U.S. agents, including brokers, who were actively producing business on a weekly basis. The Company believes that this average weekly producer equivalent metric allows sales management to monitor progress and needs, as well as serve as a leading indicator of future production capacity.

Aflac U.S. New Sales Mix: Critical Care

17.2%

The following table details the contributions to Aflac's U.S. new annualized premium sales by major insurance product category for the periods ended June 30. Three Months Six Months 2026 2025 2026 2025 Accident 18.2 % 19.0 % 19.0 % 20.0 % Disability 26.3 27.7 24.2 25.3 Critical care (1) 17.2 21.8 18.7 21.8 Hospital indemnity 11.8 11.9 12.6 13.3 Dental/vision 7.5 6.5 7.6 6.7 Life 19.0 13.1 17.9 12.9 Total 100.0 % 100.0 % 100.0 % 100.0 % (1) Includes cancer, critical illness, and hospital intensive care products In the second quarter of 2026, the Aflac U.S. sales force included an average of approximately 5,100 U.S. agents, including brokers, who were actively producing business on a weekly basis. The Company believes that this average weekly producer equivalent metric allows sales management to monitor progress and needs, as well as serve as a leading indicator of future production capacity.

Aflac U.S. New Sales Mix: Dental/Vision

7.5%

The following table details the contributions to Aflac's U.S. new annualized premium sales by major insurance product category for the periods ended June 30. Three Months Six Months 2026 2025 2026 2025 Accident 18.2 % 19.0 % 19.0 % 20.0 % Disability 26.3 27.7 24.2 25.3 Critical care (1) 17.2 21.8 18.7 21.8 Hospital indemnity 11.8 11.9 12.6 13.3 Dental/vision 7.5 6.5 7.6 6.7 Life 19.0 13.1 17.9 12.9 Total 100.0 % 100.0 % 100.0 % 100.0 % (1) Includes cancer, critical illness, and hospital intensive care products In the second quarter of 2026, the Aflac U.S. sales force included an average of approximately 5,100 U.S. agents, including brokers, who were actively producing business on a weekly basis. The Company believes that this average weekly producer equivalent metric allows sales management to monitor progress and needs, as well as serve as a leading indicator of future production capacity.

Aflac U.S. New Sales Mix: Disability

26.3%

The following table details the contributions to Aflac's U.S. new annualized premium sales by major insurance product category for the periods ended June 30. Three Months Six Months 2026 2025 2026 2025 Accident 18.2 % 19.0 % 19.0 % 20.0 % Disability 26.3 27.7 24.2 25.3 Critical care (1) 17.2 21.8 18.7 21.8 Hospital indemnity 11.8 11.9 12.6 13.3 Dental/vision 7.5 6.5 7.6 6.7 Life 19.0 13.1 17.9 12.9 Total 100.0 % 100.0 % 100.0 % 100.0 % (1) Includes cancer, critical illness, and hospital intensive care products In the second quarter of 2026, the Aflac U.S. sales force included an average of approximately 5,100 U.S. agents, including brokers, who were actively producing business on a weekly basis. The Company believes that this average weekly producer equivalent metric allows sales management to monitor progress and needs, as well as serve as a leading indicator of future production capacity.

Aflac U.S. New Sales Mix: Hospital Indemnity

11.8%

The following table details the contributions to Aflac's U.S. new annualized premium sales by major insurance product category for the periods ended June 30. Three Months Six Months 2026 2025 2026 2025 Accident 18.2 % 19.0 % 19.0 % 20.0 % Disability 26.3 27.7 24.2 25.3 Critical care (1) 17.2 21.8 18.7 21.8 Hospital indemnity 11.8 11.9 12.6 13.3 Dental/vision 7.5 6.5 7.6 6.7 Life 19.0 13.1 17.9 12.9 Total 100.0 % 100.0 % 100.0 % 100.0 % (1) Includes cancer, critical illness, and hospital intensive care products In the second quarter of 2026, the Aflac U.S. sales force included an average of approximately 5,100 U.S. agents, including brokers, who were actively producing business on a weekly basis. The Company believes that this average weekly producer equivalent metric allows sales management to monitor progress and needs, as well as serve as a leading indicator of future production capacity.

Aflac U.S. New Sales Mix: Life

19.0%

The following table details the contributions to Aflac's U.S. new annualized premium sales by major insurance product category for the periods ended June 30. Three Months Six Months 2026 2025 2026 2025 Accident 18.2 % 19.0 % 19.0 % 20.0 % Disability 26.3 27.7 24.2 25.3 Critical care (1) 17.2 21.8 18.7 21.8 Hospital indemnity 11.8 11.9 12.6 13.3 Dental/vision 7.5 6.5 7.6 6.7 Life 19.0 13.1 17.9 12.9 Total 100.0 % 100.0 % 100.0 % 100.0 % (1) Includes cancer, critical illness, and hospital intensive care products In the second quarter of 2026, the Aflac U.S. sales force included an average of approximately 5,100 U.S. agents, including brokers, who were actively producing business on a weekly basis. The Company believes that this average weekly producer equivalent metric allows sales management to monitor progress and needs, as well as serve as a leading indicator of future production capacity.

Aflac Japan Benefit Ratio

64.0%

The following table presents a summary of operating ratios in Japanese yen terms for Aflac Japan followed by a discussion of the significant drivers of changes in operating ratios in Japanese yen compared to the same periods in the previous year. Three Months Ended June 30, Six Months Ended June 30, Ratios to total adjusted revenues: 2026 2025 2026 2025 Total benefits and claims, net 45.5 % 47.4 % 45.5 % 48.0 % Adjusted expenses: Amortization of deferred policy acquisition costs 3.6 3.4 3.6 3.4 Insurance commissions 4.3 4.5 4.4 4.6 Insurance and other expenses 12.3 12.7 11.9 12.1 Total adjusted expenses 20.2 20.6 19.8 20.1 Pretax adjusted earnings 34.3 32.0 34.6 31.9 Ratios to total premiums: Total benefits and claims, net 64.0 % 66.5 % 63.4 % 66.2 % Adjusted expenses: Amortization of deferred policy acquisition costs 5.0 4.8 5.0 4.7 • For the three- and six-month periods ended June 30, 2026, the total benefits and claims to total premiums ratio decreased primarily due to lower benefits reflecting the impact of annual cash flow assumption updates performed in the third quarter of 2025 and higher reserve remeasurement gains. For the full year of 2026, the Company now expects Aflac Japan to generate a benefit ratio at the high end of the range of 60% to 63%, excluding the annual actuarial assumption review in the third quarter. • For the three- and six-month periods ended June 30, 2026, the total adjusted expense ratio decreased primarily due to the decrease in total adjusted expenses, mostly offset by the decrease in total adjusted revenues. • In total, the pretax adjusted profit margin increased in the three- and six-month periods ended June 30, 2026 primarily due to the lower benefit ratio.

Aflac U.S. Benefit Ratio

49.5%

Annualized premiums in force increased 4.5% to $6.8 billion at June 30, 2026, compared with $6.5 billion at June 30, 2025. The following table presents a summary of operating ratios for Aflac U.S. followed by a discussion of the significant drivers of changes in operating ratios compared to the same periods in the previous year. Three Months Ended June 30, Six Months Ended June 30, Ratios to total adjusted revenues: 2026 2025 2026 2025 Total benefits and claims 43.0 % 41.2 % 42.1 % 41.4 % Adjusted expenses: Amortization of deferred policy acquisition costs 8.0 7.9 8.0 7.9 Insurance commissions 8.2 8.0 8.1 7.9 Insurance and other expenses 19.9 20.4 21.1 21.1 Total adjusted expenses 36.1 36.3 37.2 37.0 Pretax adjusted earnings 20.9 22.5 20.6 21.6 Ratios to total premiums: Total benefits and claims 49.5 % 47.3 % 48.4 % 47.5 % Adjusted expenses: Amortization of deferred policy acquisition costs 9.2 9.0 9.2 9.1 • For the three- and six-month periods ended June 30, 2026, the total benefits and claims to total premiums ratio increased primarily due to higher incurred claims for certain group products largely associated with the growth in net earned premiums. • For the three- and six-month periods ended June 30, 2026, the total adjusted expense ratio remained relatively stable compared with the corresponding prior year periods. • In total, the pretax adjusted profit margin decreased in the three- and six-month periods ended June 30, 2026, primarily due to the higher benefit ratio. 95