Fidelity National Financial to Distribute Approximately 12% of F&G to Shareholders

JACKSONVILLE, Fla. and DES MOINES, Iowa, Nov. 7, 2025 – Fidelity National Financial, Inc. (NYSE: FNF), a heavyweight in title insurance and transaction services for the real estate and mortgage sectors, alongside F&G Annuities & Life, Inc. (NYSE: FG), announced today a strategic move to distribute a portion of FNF’s stake in F&G to its shareholders. The FNF Board has greenlit a special stock distribution, transferring approximately 16 million shares of F&G common stock, currently held by FNF (a majority-owned subsidiary), to FNF shareholders. This represents roughly 12% of F&G’s outstanding shares.

The distribution is slated for December 31, 2025 (the “Distribution Date”), impacting all FNF shareholders of record as of 4:30 p.m. ET on December 17, 2025 (the “Record Date”). The distribution will be a pro rata common stock distribution. As of November 5, 2025, FNF reported approximately 271 million outstanding shares of its common stock. Based on this figure, the company anticipates distributing approximately six shares of F&G’s common stock for every 100 shares of FNF’s common stock held on the Record Date. The final distribution ratio will be contingent on the number of outstanding FNF shares on the Record Date.

Fractional shares of F&G common stock will not be distributed. Instead, FNF shareholders will receive cash in lieu of any fractional share they would have otherwise been entitled to. For U.S. federal income tax purposes, the distribution is intended to be classified as a taxable dividend for FNF shareholders.

According to company statements, this distribution underscores FNF’s strong belief in F&G’s long-term potential. The move is strategically aimed at unlocking shareholder value by boosting market liquidity for F&G’s shares and broadening investor access. Analysts will be watching closely to see how this impacts both FNF and F&G’s valuations in the coming quarters. The mechanics of the distribution are designed to be straightforward for investors.

Information Regarding the Distribution

No shareholder vote or action is required for FNF shareholders to receive the F&G common stock distribution.

FNF shareholders of record on the Record Date will receive account statements reflecting their newly acquired ownership interest in F&G. The shares will be held in book-entry form. Shareholders holding FNF shares through brokers or nominees will have their F&G shares credited directly to their accounts by those entities. Shareholders are not required to pay any consideration, surrender, or exchange FNF shares to receive the F&G distribution.

Further details about the distribution and both FNF and F&G can be found at investor.fnf.com and investors.fglife.com. Additionally, reports filed by both companies with the Securities and Exchange Commission (SEC) are accessible at www.sec.gov.

Investors are strongly encouraged to consult with their financial advisors to understand the specific implications of trading FNF and F&G stock, both before and after the Distribution Date. This move could impact portfolio diversification strategies and tax obligations.

This announcement constitutes an informational release and is not an offer to sell or a solicitation of an offer to buy any securities.

About Fidelity National Financial, Inc.

Fidelity National Financial, Inc. (NYSE: FNF) is a dominant player in the title insurance and transaction services market, catering primarily to the real estate and mortgage industries. Through its collection of title insurance underwriters (Fidelity National Title, Chicago Title, Commonwealth Land Title, Alamo Title, and National Title of New York), FNF collectively issues more title insurance policies than any other company in the United States. Additional information can be found at fnf.com.

About F&G

F&G Annuities & Life, Inc. is a prominent provider of insurance solutions, focusing on retail annuity and life customers and institutional clients. The company, headquartered in Des Moines, Iowa, aims to assist Americans in achieving their financial goals. For more information, visit https://www.fglife.com.

Forward-Looking Statements and Risk Factors

This press release contains forward-looking statements that are subject to a number of risks and uncertainties. These statements, which include expectations, hopes, intentions, or strategies regarding the future, are based on management’s beliefs, assumptions, and currently available information. Actual results may differ materially from those projected due to various factors. The company undertakes no obligation to update any forward-looking statements. Key risks and uncertainties include, but are not limited to: general economic conditions, business and political crises, ongoing geopolitical conflicts, consumer and government spending, capital market volatility, investor and consumer confidence, foreign currency exchange rates, commodity prices, inflation levels, changes in trade policy, tariffs, trade sanctions, supply chain disruptions, real estate market fluctuations (potentially influenced by interest rates, mortgage funding availability, and economic conditions), acquisition challenges, reliance on distributions from title insurance underwriters, competitive pressures faced by F&G and its subsidiaries, compliance with government regulations (including title insurance and services regulation, privacy and data protection laws), system damages, failures, cyberattacks, unauthorized data disclosures, and other risks detailed in FNF’s and F&G’s Form 10-K filings and other SEC filings. These factors provide a nuanced picture of the operating environment and potential challenges that could impact future performance.