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    METLIFE FOUNDATION REPORT OF CONTRIBUTIONS 2011 Building a secure future for individuals and communities worldwide

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    MetLife Foundation was established in 1976 to continue MetLife’s long tradition of corporate < Contributions > contributions and community involvement. Our 35-year commitment to building a secure future for individuals and communities worldwide is reflected in our focus on empowering older adults, preparing young people and building livable communities. Employee Related Programs 8% International 6% Empowering Older Adults: Older adults are integral to building a secure future for individuals and communities Other Support 2% worldwide. Through education and mentoring programs, caregiving, the pursuit of “encore” careers and volunteer work, they are making significant contributions to the development of our youth, civic institutions and economic vitality. Preparing Young People: The promise of a brighter future rests with our young people and MetLife Foundation is committed to helping them navigate through opportunities and obstacles toward a path to success. Empowering Preparing Older Adults Young People Classroom education and student achievement are effective vehicles to address many of the obstacles young 13% 42% people will encounter, yet to be successful we must move beyond the classroom to after-school and summer programs, including mentoring and arts education. Our children are also confronted with basic health challenges, Building Livable Communities which we can help address by embracing healthy lifestyles built on sound nutrition and exercise while avoiding 29% the temptations and pressures that lead to drug use. Building Livable Communities: Communities are the building blocks of society, a reflection of the attitudes, beliefs and priorities of our families and neighbors. Unfortunately, in communities across the country, many go hungry, struggle to find affordable housing or are marginalized and unable to enjoy all their community offers. 2011 Total Support: $41,938,306 MetLife Foundation believes that livable communities must meet basic needs of the less fortunate and provide all of its citizens with cultural, social and economic opportunities. 2011 METLIFE FOUNDATION REPORT OF CONTRIBUTIONS ‹1›

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    < Report of Contributions > BUILDING LIVABLE COMMUNITIES Foodshare, Inc 30,000 Rebuilding Together 135,000 Basic Needs Greater Boston Food Bank 50,000 Regional Plan Association 25,000 AARP Foundation $ 100,000 Greater Southwest Development Rhode Island Community contributions Corporation 45,000 Food Bank Association 35,000 Asian Community Development Corporation 20,000 Historic House Trust 20,000 Riverfront Recapture 10,000 – BUILDING LIVABLE COMMUNITIES ‹2› HomeFront 50,000 Ronald McDonald House Charities Atlanta Community Food Bank 35,000 Housing and Community of Tampa Bay 10,000 – EMPOWERING OLDER ADULTS ‹3› Beyond Shelter 40,000 Development Network Rosie’s Place 10,000 Bickerdike Redevelopment of New Jersey 50,000 Corporation 50,000 Somerset County – PREPARING YOUNG PEOPLE ‹4› Broadway Housing 25,000 Human Rights Campaign 25,000 Business Partnership 10,000 Interfaith Food Pantry 10,000 St. Louis Area Foodbank 25,000 Center for Great Expectations 5,000 – EMPLOYEE-RELATED PROGRAMS ‹5› KaBOOM! 247,500 The Foodbank, Inc 20,000 Chicago Community Loan Fund 50,000 Lawyers Alliance for New York 10,000 Trickle Up Program 5,000 Citizens Committee for – OTHER SUPPORT ‹5› New York City 25,000 Local Initiatives Trust for Public Land 1,440,000 Support Corporation 730,000 ULI Foundation 75,000 Citizens Crime Commission of New York City 25,000 Low Income Investment Fund 100,000 Women’s Housing and Economic – INTERNATIONAL ‹5› LTSC Community Development Development Corporation 50,000 Codman Square Neighborhood Development Corporation 50,000 Corporation 50,000 Basic Needs Total $ 6,485,750 – METLIFE FOUNDATION Madison Park Development Common Ground 250,000 AUDITED FINANCIAL STATEMENT ‹ 6-10 › Community Affordable Housing Corporation 35,000 Access to the Arts Equity Corporation 1,000 Massachusetts Association of Alvin Ailey Dance Foundation $ 90,000 Community Development Community FoodBank Corporation 10,000 American Museum of of New Jersey 75,000 Natural History 350,000 Meals on Wheels Association Community Loan Fund of America 200,000 American Symphony Orchestra of New Jersey 35,000 League 150,000 Mercy Health Foundation 20,000 Community Reinvestment Fund 50,000 Americas Society 75,000 Metropolitan Boston Housing Community Solutions 150,000 Partnership 10,000 Apollo Theatre 50,000 Co-Opportunity 15,000 National Council for Community Arts Midwest 20,000 Count Me In For Women’s and Education Partnerships 1,000 Asian American Arts Alliance 25,000 Economic Independence 50,000 National Organization on Disability 150,000 Asian Art Museum 100,000 Dorchester Bay Economic National Urban Fellows 25,000 Association of Performing Arts Development Corporation 35,000 Presenters 125,000 National Urban League 500,000 East Bay Asian Local AXIS Dance Company 30,000 Development Corporation 45,000 Natural Heritage Trust 75,000 Neighborhood Housing Services Ballet Hispanico of New York 125,000 Enterprise Community Partners 350,000 Blue Star Families 106,500 of New York City 75,000 Experience in Action 200,000 Brooklyn Academy of Music 75,000 New York City Partnership Feeding America 6,250 Foundation 70,000 Brooklyn Arts Council 25,000 Feeding America - Tampa Bay 40,000 North Texas Food Bank 50,000 Caribbean Cultural Center 25,000 Fifth Avenue Committee 50,000 Northern Illinois Food Bank 25,000 Carnegie Hall 50,000 Food Bank for New York City 75,000 Northern Manhattan Chamber Music America 15,000 Food Bank of Central New York 20,000 Improvement Corporation 30,000 Chamber Music Society of ‹2› Food Bank of Iowa 20,000 Public Allies 50,000 Lincoln Center 35,000

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    Chen Dance Center Chicago Public Media Cityfolk Dancing Wheels East West Players El Museo del Barrio 30,000 20,000 20,000 35,000 10,000 450,000 Public Theater Queens Museum of Art Repertorio Espanol Shakespeare Theatre of New Jersey Silk Road Project Smithsonian Institution Traveling 30,000 15,000 100,000 10,000 50,000 National Council of La Raza Save-A-Memory Campaign Alzheimer’s Disease Total Healthy Aging Alliance for Aging Research 150,000 100,000 $ 1,460,693 150,000 2011 ‹2› BUILDING LIVABLE COMMUNITIES – Festival of North American Exhibition Service 225,000 American Federation Orchestras 200,000 St. Louis Symphony Orchestra 35,000 for Aging Research 220,000 ‹3› EMPOWERING OLDER ADULTS – GableStage 15,000 St. Louis Art Museum Foundation 10,000 American Society on Aging 240,000 Greater Hartford Arts Council 50,000 St Luke’s Chamber Ensemble 25,000 Civic Ventures 200,000 ‹4› PREPARING YOUNG PEOPLE – Harlem Stage 35,000 State Theatre Regional Arts Center Council for Adult and Hartford Symphony Orchestra 35,000 at New Brunswick 15,000 Experiential Learning 250,000 ‹5› EMPLOYEE-RELATED PROGRAMS – High Line 50,000 Staten Island Institute of Arts Generations United 250,000 Highbridge Voices 5,000 and Science 20,000 Gerontological Society of America 100,000 ‹5› OTHER SUPPORT – Japan Society 50,000 Studio Museum in Harlem 30,000 Intergenerational Center 145,000 Joyce Theater Foundation 30,000 Tampa Bay Performing Arts Center 20,000 Jumpstart for Young Children 250,000 ‹5› INTERNATIONAL – K-12 Gallery for Young People 20,000 Taproot Foundation 150,000 Lifetime Arts 125,000 Theatre Communications Group 275,000 Liz Lerman Dance Exchange 180,000 Lark Theatre Company 30,000 Theatre Development Fund 20,000 ‹ 6-10 › METLIFE FOUNDATION Lincoln Center for National Alliance for Caregiving 175,000 AUDITED FINANCIAL STATEMENT – the Performing Arts 50,000 Town Hall Foundation 5,000 National Association of Manhattan Theatre Club 25,000 Trey McIntyre Project 30,000 Area Agencies on Aging 120,000 Mark Morris Dance Group 125,000 Tulsa Ballet Theatre 20,000 National Center for Creative Aging 200,000 Meet the Composer 125,000 Van Wezel Foundation 5,000 National Family Caregivers Volunteer Lawyers for the Arts 20,000 Association 50,000 Metropolitan Museum of Art 530,000 Washington Ballet 20,000 National Guild of Community Munson Williams Proctor Schools of the Arts 125,000 Arts Institute 10,000 Access to the Arts Total $ 5,801,500 NCB Capital Impact 350,000 National Association of Latino Arts and Cultures 40,000 Building Livable Communities New York Academy of Medicine 150,000 National Performance Network 45,000 Total $ 12,287,250 Pacific Science Center 50,000 New England Foundation Partners for Livable Communities 250,000 for the Arts 275,000 ReServe Elder Service 50,000 EMPOWERING OLDER ADULTS New York City Center 150,000 Rubin Museum of Art 50,000 Alzheimer’s Disease SAGE 50,000 New York Live Arts 30,000 New York Public Library 20,000 Alzheimer’s Association $ 300,000 South Florida Science Museum 20,000 New York Public Radio 45,000 Alzheimer’s Association, Twin Cities Public Television 50,000 NYC Chapter 30,000 Orpheus Chamber Orchestra 300,000 Healthy Aging Total $ 3,800,000 Alzheimer’s Disease Pan Asian Repertory Theatre 15,000 Research Foundation 225,000 Paul Taylor Dance Foundation 125,000 Empowering Older Adults Awards for Medical Research 215,693 Total $ 5,260,693 Pilobolus Dance Theatre 110,000 Dana Alliance for Brain Initiatives 80,000 Ping Chong Company 35,000 Fisher Center for Alzheimer’s Pregones Theater 35,000 Research Foundation 110,000 2011 METLIFE FOUNDATION REPORT OF CONTRIBUTIONS ‹3› Providence Children’s Museum 25,000 Museum of Modern Art 250,000

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    < Report of Contributions > PREPARING YOUNG PEOPLE National Association of Baltimore Children’s Museum 25,000 Student Achievement Elementary School Principals 300,000 Baltimore Symphony Orchestra 25,000 National Association of Believe in Tomorrow ACCESS $ 100,000 Secondary School Principals 410,000 contributions National Children’s Foundation 10,000 ACHIEVE 100,000 National Center for Family Literacy 250,000 BELL Foundation 70,000 – BUILDING LIVABLE COMMUNITIES ‹2› Actuarial Foundation 10,000 National FFA Foundation 71,250 Big Brothers Big Sisters of America 500,000 American Association of National Medical Fellowships 70,000 Colleges of Teacher Education 200,000 Boston Foundation 40,000 – EMPOWERING OLDER ADULTS ‹3› National Staff Boston Symphony Orchestra 50,000 American Council on Education 900,000 Development Council 500,000 American Indian College Fund 15,000 Boys & Girls Club of Trenton – PREPARING YOUNG PEOPLE ‹4› New Jersey SEEDS 10,000 and Mercer County 7,500 Asian and Pacific Islander New Leaders for New Schools 200,000 American Scholarship Fund 25,000 Boys & Girls Clubs of America 113,500 – EMPLOYEE-RELATED PROGRAMS ‹5› New Teacher Center 500,000 Boys & Girls Clubs of Hartford 50,000 Center for Teaching Quality 250,000 NHP Foundation 15,000 Boys & Girls Clubs of Las Vegas 55,000 Center on School, Family – OTHER SUPPORT ‹5› and Community Partnerships 300,000 One to World 10,000 Boys & Girls Clubs of Providence 40,000 Children’s Aid Society 220,000 Research Foundation for CUNY - Brooklyn Children’s Museum 35,000 LaGuardia Community College 250,000 Camp Courant 10,000 – INTERNATIONAL ‹5› College Summit 500,000 S.S. Huebner Foundation for Cornerstone OnDemand Center for Arts Education 40,000 Insurance Education 25,000 – METLIFE FOUNDATION Foundation 70,000 Chamber Education Foundation 30,000 School Leaders Network 350,000 AUDITED FINANCIAL STATEMENT ‹6› Developmental Studies Center 500,000 Chicago Children’s Choir 5,000 STRIVE 150,000 Editorial Projects in Education 250,000 Chicago Children’s Museum 35,000 United Negro College Fund 50,000 Education Pioneers 150,000 Children’s Health Fund 500,000 University of Scranton 10,000 Education Trust 250,000 Citizen Schools 300,000 What Kids Can Do 110,000 Farm Foundation 5,000 City Year, Inc 300,000 Hispanic Scholarship Fund 30,000 Student Achievement Total $ 7,659,250 Community Funds - Horizons at Greens Farms Academy 3,000 Youth Development Summer Matters Fund 50,000 Institute for Knowledge Advertising Council $ 25,000 Des Moines Art Center 15,000 Management in Education 200,000 Detroit Science Center 25,000 After-School All Stars, Atlanta 45,000 League of Innovation in the Education Through Music 20,000 Community College 200,000 After-School All Stars, Los Angeles 50,000 Afterschool Alliance 300,000 Educational Alliance 75,000 Learning Leaders 100,000 EMCArts 500,000 All Stars Project 50,000 Alliance for Children and Families 225,000 Floating Hospital 30,000 American Academy of Gamm Theatre 10,000 Family Physicians Foundation 250,000 Girl Scouts of the USA 300,000 American Dietetic Girls, Inc. 75,000 Association Foundation 225,000 Hamilton-Madison House 45,000 American Heart Association 250,000 Hazelden 75,000 American Psychological Association 150,000 Holocaust Memorial Foundation ArtsConnection 50,000 of Illinois 15,000 Association of Children’s Museums 232,000 Jewish Museum 30,000 Johns Hopkins - ‹4› School of Public Health 150,000 Junior Achievement 101,000

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    LACER Afterschool Programs Los Angeles Philharmonic Lower East Side Tenement Museum Make-A-Wish Foundation of America Miami Art Museum 50,000 35,000 25,000 4,205 35,000 School of Journalism and Mass Communication Sesame Workshop Society of the Third Street Music School Settlement Sphinx Organization 5,000 600,000 20,000 45,000 EMPLOYEE RELATED PROGRAMS Employee Children’s Scholarship Programs Employee Volunteer Programs Local United Ways Matching Gifts $ 386,575 687,738 1,250,000 921,245 2011 ‹2› BUILDING LIVABLE COMMUNITIES – Midland School 10,000 St. Louis Public Library 25,000 Employee Related Programs Midori Foundation 55,000 Studio in a School 50,000 Total $ 3,245,558 ‹3› EMPOWERING OLDER ADULTS – Morris Museum 15,000 Union Settlement Association 50,000 Morristown Neighborhood House 25,000 Urban Gateways: OTHER SUPPORT ‹4› PREPARING YOUNG PEOPLE – Center for Arts Education 50,000 Foundation Center $ 7,500 Museum of Science and Idustry, Chicago 35,000 Wing Luke Museum of the Grantmakers in Aging 5,000 ‹5› EMPLOYEE-RELATED PROGRAMS – Museum of Science, Boston 75,000 Asian Pacific American Experience 25,000 Grantmakers in Health 8,500 Women In Need 25,000 Independent Sector 15,000 National 4-H Council 300,000 World Savvy 35,000 ‹5› OTHER SUPPORT – National Conference for National September 11th Community and Justice 10,000 YMCA of Greater St. Louis 30,000 Memorial and Museum 1,000,000 Young Audience 100,000 Other Support $ 1,036,000 ‹5› INTERNATIONAL – National Guild for Community Arts Education 275,000 Youth Development Total $ 10,056,305 New York Academy of Medicine 75,000 INTERNATIONAL ‹ 6-10 › METLIFE FOUNDATION Preparing Young People Alzheimer’s Disease International $ 200,000 AUDITED FINANCIAL STATEMENT – New York Blood Center 175,000 Total $ 17,715,555 AmeriCares Foundation 100,000 New York Botanical Garden 350,000 Japan Earthquake and New York Foundation for the Arts 35,000 Tsunami Relief 1,021,000 New York Hall of Science 100,000 Jose Limon Dance Foundation 50,000 New York Philharmonic 325,000 Junior Achievement Worldwide 337,250 Outreach Development Corporation 25,000 Sesame Workshop 685,000 Paper Mill Playhouse 25,000 International Total $ 2,393,250 Partnership for a Drug-Free America 800,000 Police Athletic League 123,100 MetLife Foundation Total $ 41,938,306 Progressive Agriculture Foundation 25,000 Providence After School Alliance 50,000 Providence Community Library 25,000 Queens Library Foundation 50,000 Queens Museum of Art 15,000 Reach Out and Read 200,000 Resources for Children with Special Needs 40,000 2011 METLIFE FOUNDATION REPORT OF CONTRIBUTIONS ‹5›

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    < MetLife Foundation INDEPENDENT AUDITOR’S REPORT Audited Financial Statement > To the Board of Directors of MetLife Foundation: We have audited the accompanying statements of financial position of MetLife Foundation (the “Foundation”) as of December 31, 2011 and 2010, and the related statements of activities and changes in net assets and cash flows for the years then ended. These financial statements are the responsibility of financials the Foundation’s management. Our responsibility is to express an opinion on these financial statements based on our audits. – BUILDING LIVABLE COMMUNITIES ‹2› We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes consideration – EMPOWERING OLDER ADULTS ‹3› of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Foundation’s internal control over financial reporting. Accordingly, we express no such opinion. An audit – PREPARING YOUNG PEOPLE ‹4› also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. – EMPLOYEE-RELATED PROGRAMS ‹5› In our opinion, such financial statements present fairly, in all material respects, the financial position of the Foundation as of December 31, 2011 and – OTHER SUPPORT ‹5› 2010, and the changes in its net assets and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America. – INTERNATIONAL ‹5› February 22, 2012 – METLIFE FOUNDATION AUDITED FINANCIAL STATEMENT ‹ 6-10 › METLIFE FOUNDATION STATEMENTS OF FINANCIAL POSITION—DECEMBER 31, 2011 AND 2010 ASSETS NOTES 2011 2010 Investments: Program-related investments 1 $ 4,477,506 $ 5,836,074 Other investments, at fair value: – Government and structured bonds – 30,959,063 Corporate bonds – 21,639,244 Equity investments 113,713,585 54,919,146 Short-term investments 19,398,277 9,598,239 Total investments 137,589,368 122,951,766 Cash and cash equivalents 1 2,330,600 3,115,258 Current income tax recoverable 61,432 – Amounts receivable for investments sold – 3,114 Due and accrued investment income 8,910 537,047 TOTAL ASSETS $139,990,310 $126,607,185 LIABILITIES AND NET ASSETS Cash overdraft 1 $ 422,170 $ 859,047 Unconditional grants payable 6 – 1,021,888 Accrued expenses payable 1,500 1,500 Income tax payable – 10,096 Total liabilities 423,670 1,892,531 Net assets—unrestricted 139,566,640 124,714,654 ‹6› TOTAL LIABILITIES AND NET ASSETS $139,990,310 $126,607,185 See notes to financial statements

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    METLIFE FOUNDATION STATEMENTS OF ACTIVITIES AND CHANGES IN NET ASSETS FOR THE YEARS ENDED DECEMBER 31, 2011 AND 2010 REVENUE Investment income: Dividends and interest Change in fair value of investments Contributions from MetLife NOTES 1 3 2011 $ 3,184,832 2,694,844 50,000,000 2010 $ 3,980,066 9,364,900 40,000,000 2011 ‹2› BUILDING LIVABLE COMMUNITIES – Total revenue 55,879,676 53,344,966 GRANTS AND EXPENSES ‹3› EMPOWERING OLDER ADULTS – Grants: Paid 41,938,306 39,800,039 ‹4› PREPARING YOUNG PEOPLE – Change in accrual for unconditional grants (1,021,888) (916,066) Total grants 40,916,418 38,883,973 ‹5› EMPLOYEE-RELATED PROGRAMS – General expenses 4 52,800 52,800 Federal excise tax on investment income 5 58,472 60,424 Total grants and expenses 41,027,690 38,997,197 ‹5› OTHER SUPPORT – CHANGE IN NET ASSETS 14,851,986 14,347,769 Net Assets—beginning of year 124,714,654 110,366,885 ‹5› INTERNATIONAL – NET ASSETS — end of year $139,566,640 $124,714,654 See notes to financial statements ‹ 6-10 › METLIFE FOUNDATION AUDITED FINANCIAL STATEMENT – METLIFE FOUNDATION STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2011 AND 2010 CASH FLOWS FROM OPERATING ACTIVITIES: 2011 2010 Change in net assets $ 14,851,986 $ 14,347,769 Adjustments to reconcile change in net assets to net cash provided by operating activities: Change in fair value of investments (2,694,844) (9,364,900) Accretion of discount/amortization of premiums on investments 14,429 388,386 Change in due and accrued investment income 528,137 (35,752) Change in income tax payable/recoverable (71,528) (6,576) Change in cash overdraft (436,877) 200,586 Change in unconditional grants payable (1,021,888) (916,066) Net cash provided by operating activities 11,169,415 4,613,447 CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from sale of investments 140,729,629 115,083,453 Purchase of investments (152,683,702) (117,766,742) Net cash used in investing activities (11,954,073) (2,683,289) NET CHANGE IN CASH AND CASH EQUIVALENTS: (784,658) 1,930,158 Cash and cash equivalents - beginning of year 3,115,258 1,185,100 CASH AND CASH EQUIVALENTS — end of year $ 2,330,600 $ 3,115,258 Supplemental disclosures of cash flow information — $ 130,000 $ 67,000 Federal excise taxes paid See notes to financial statements 2011 METLIFE FOUNDATION REPORT OF CONTRIBUTIONS ‹7›

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    < MetLife Foundation Audited Financial Statement > METLIFE FOUNDATION NOTES TO estimated. As of December 31, 2011 and Estimates—The preparation of the financial FINANCIAL STATEMENTS December 31, 2010, this allowance was zero. statements in conformity with GAAP requires DECEMBER 31, 2011 AND 2010 In addition, the income generated by the management to make estimates and program-related loans is generally dependent assumptions that affect the reported amounts financials The MetLife Foundation (the “Foundation”) was formed for the purpose of supporting upon the financial ability of the borrowers of assets and liabilities and the disclosure – BUILDING LIVABLE COMMUNITIES ‹ 2 › to keep current on their obligations. For of contingent assets and liabilities at the various philanthropic organizations and activities. disclosure purposes, a reasonable estimate of date of the financial statements and the – EMPOWERING OLDER ADULTS ‹ 3 › fair value was not made since the difference reported amounts of revenues and expenses 1. ACCOUNTING POLICIES between fair value and the outstanding during the reporting period. Actual results Summary of Significant Accounting indebtedness or cost would not be could differ from these estimates. Since the – PREPARING YOUNG PEOPLE ‹ 4 › Policies significant. Maturities of the loan investments obligation to make payment of conditional The Foundation’s financial statements have range from 2018 through 2020. multi-year grants and program-related loans – EMPLOYEE-RELATED PROGRAMS ‹ 5 › been prepared in accordance with accounting is dependent upon each grantee/borrower’s principles generally accepted in the United Other Investments—During 2011, in order to further diversify its investments portfolio satisfaction of the applicable conditions, – OTHER SUPPORT ‹ 5 › States of America (“GAAP”) which recognize the amount of conditional multi-year grants income when earned and expenses when and generate incremental value over the long-term, the Foundation implemented a and program-related loans reported as incurred. commitments is based upon the expected or – INTERNATIONAL ‹ 5 › new investment policy which resulted in the Cash Equivalents and Cash Overdraft— transition of all bonds and equity investments estimated fulfillment of such conditions. Cash equivalents are highly liquid to Exchange Traded Funds (ETFs). Bonds, Adoption of New Accounting – METLIFE FOUNDATION investments purchased with an original or equity and short-term investments are carried Pronouncements AUDITED FINANCIAL STATEMENT ‹ 6-10 › remaining maturity of three months or less at fair value with related holdings gains and at the date of purchase and are carried at Effective December 31, 2011, the Foundation losses reported in investment income. The adopted new guidance regarding disclosures fair value. The Foundation generally invests Foundation is not exposed to any significant funds required for cash disbursements in about the credit quality of financing concentration of credit risk in its investment receivables and valuation allowances cash equivalents and transfers such funds to portfolio. Short-term investments include its operating bank account when checks are for credit losses, including credit quality investments with remaining maturities of one indicators. The Foundation has provided all presented for payment. The cash overdrafts year or less, but greater than three months, at December 31, 2011 and December 31, material required disclosures in its financial at the time of acquisition. statements. 2010 represent grant disbursements that cleared the operating bank account in 2012 Contributions—All contributions received 2. FAIR VALUE and 2011, respectively. to date by the Foundation have been unrestricted and, therefore, all of its The Foundation has elected to measure its Program-Related Investments—Such net assets are similarly unrestricted. All corporate and government bonds, equity investments are authorized by the Board contributions received during 2011 and 2010 investments and cash equivalents at fair of Directors and represent loans to or have been from MetLife, Inc. and subsidiaries value with related holdings gains and losses equity investments in qualified charitable (“MetLife”). reported in investment income. organizations or investments for appropriate The Foundation has categorized its financial charitable purposes as set forth in the Grants—Such transactions are authorized by the Board of Directors. Conditional grants instruments measured at fair value into a Internal Revenue Code and regulations three-level hierarchy, based on the priority thereunder, and are carried at outstanding authorized for payment in future years are subject to further review and approval by the of the inputs to the respective valuation indebtedness or cost. An allowance for technique as follows: possible losses is established when the Foundation. Foundation does not expect repayment in full on any program-related loan and when ‹8› such uncollectible amount can be reasonably

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    Level 1 Unadjusted quoted prices for identical financial instruments in active markets supported by high volumes of trading activity and narrow bid/ask spreads. The Foundation defines active markets based on average trading volume for equity investments. The size of the bid/ask spread in markets that are not active; or other inputs that are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the financial instrument. Financial instruments measured at fair value using Level 2 inputs generally include the valuation estimates generally causing these investments to be Level 3. Financial instruments measured at fair value using Level 3 inputs generally include privately held common stock, fixed maturity securities and equity securities priced principally by independent broker quotation or market 2011 ‹2› BUILDING LIVABLE COMMUNITIES – is used as an indicator of market activity certain U.S. Treasury and agency securities standard valuation methodologies using ‹3› EMPOWERING OLDER ADULTS – for bonds. Financial instruments measured and U.S. corporate securities. inputs which are not market observable at fair value using Level 1 inputs generally Level 3 In general, investments or cannot be derived principally from or ‹4› PREPARING YOUNG PEOPLE – include equities listed on a major exchange classified within Level 3 use many of the corroborated by observable market data, with sufficient levels of activity and liquidity, same valuation techniques and inputs and fixed maturity and equity securities certain U.S. Treasury securities, and certain as described in Level 2 Measurements. which are priced using historical prices due ‹5› EMPLOYEE-RELATED PROGRAMS – registered mutual fund interests priced using However, if key inputs are unobservable, or to a lack of sufficient activity or liquidity. daily net asset value “NAV” provided by the if the investments are less liquid and there is A financial instrument’s classification ‹5› OTHER SUPPORT – fund managers. very limited trading activity, the investments within the fair value hierarchy is based on Level 2 This level includes fixed maturity are generally classified as Level 3. The the lowest level of significant input to its ‹5› INTERNATIONAL – securities and equity securities priced use of independent non-binding broker valuation. principally via model-evaluated pricing quotations to value investments generally The Foundation’s financial instruments by independent pricing services using indicates there is a lack of liquidity or a lack measured at fair value were categorized ‹ 6-10 › METLIFE FOUNDATION observable inputs. Includes quoted prices of transparency in the process to develop as follows as of December 31, 2011 and AUDITED FINANCIAL STATEMENT – December 31, 2010: Quoted Prices in Active Markets Significant Other Significant for Identical Securities Observable Inputs Unobservable Inputs (Level 1) (Level 2) (Level 3) Total Fair Value December 31, 2011: Cash Equivalents $2,198,718 $ 2,198,718 Short-Term Investments $ 7,999,054 $ 7,399,670 3,999,553 19,398,277 Government and Structured Bonds Corporate Bonds Equity Investments 113,698,585 15,000 113,713,585 Total $121,697,639 $ 7,399,670 $6,213,271 $135,310,580 December 31, 2010: Cash Equivalents $ 2,999,937 $ 2,999,937 Short-Term Investments 9,598,239 9,598,239 Government and Structured Bonds 4,592,782 $26,366,281 30,959,063 Corporate Bonds 21,639,244 21,639,244 Equity Investments 54,903,968 $ 15,178 54,919,146 Total $ 72,094,926 $ 48,005,525 $ 15,178 $ 120,115,629 2011 METLIFE FOUNDATION REPORT OF CONTRIBUTIONS ‹9›

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    < MetLife Foundation Audited Financial Statement > During the year ended December 31, 2011, 6. COMMITMENTS there were no significant transfers between As of December 31, 2011, the Board Levels 1 and 2 and no transfers between of Directors had authorized grants and Levels 2 and 3. In addition, there were no financials program-related investments for future years transactions on the Level 3 securities and the as follows: – BUILDING LIVABLE COMMUNITIES ‹ 2 › fair values remain the same. 3. CONTRIBUTIONS – EMPOWERING OLDER ADULTS ‹ 3 › CONDITIONAL GRANTS In 2011 and 2010, MetLife contributed cash of $50,000,000 and $40,000,000, 2012 $2,150,000 – PREPARING YOUNG PEOPLE ‹ 4 › respectively, to the Foundation. 2013 300,000 4. RELATED PARTY TRANSACTIONS – EMPLOYEE-RELATED PROGRAMS ‹ 5 › $2,450,000 The Foundation is supported by MetLife. MetLife also provides the Foundation with – OTHER SUPPORT ‹ 5 › management and administrative services. However, the Statements of Activities and PROGRAM-RELATED INVESTMENTS – INTERNATIONAL ‹ 5 › Changes in Net Assets do not include such 2012 $3,000,000 costs since they are not significant. 2013 – – METLIFE FOUNDATION 5. FEDERAL TAXES The Foundation is exempt from Federal $3,000,000 AUDITED FINANCIAL STATEMENT ‹ 6-10 › income taxes; however, as a private foundation, it is subject to federal excise As of December 31, 2011, none of the taxes on its net taxable investment income conditional grants required further review and realized capital gains. The rate for and approval by the Foundation prior to current excise taxes was 1% in 2011 and payment. 2010. The rate for deferred excise taxes was 2% in 2011 and 2010. However, the cost of investments recorded at fair value exceeded the fair value of such securities by $601,545 and $750,919 at December 31, 2011 and 2010, respectively. Therefore, no deferred taxes were recorded at December 31, 2011 or 2010. There were no uncertain tax positions taken by the Foundation as of December 31, 2011. ‹ 10 ›

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    Metropolitan Life Insurance Company 200 Park Avenue New York, NY 10166 www.metlife.com 1202-0800 © 2012 METLIFE, INC. PEANUTS © 2012 Peanuts Worldwide

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