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EQUITABLE HOLDINGS REPORTS THIRD QUARTER 2021 RESULTS Strong results in retirement and asset management ; $ 7.1bn of net flows and AUM up 17 % Announcing XXX financing transaction unlocking $ 1bn in value ; offsetting redundant reserves Net income of $ 672m ; net income per share of $ 1.59 Non - GAAP operating earnings¹ of $ 818m , or $ 1.94 per share Assumptions aligned to current experience and economic realities with nominal Q3 impact - New York , NY , November 3 , 2021 Equitable Holdings , Inc. ( " Equitable Holdings " , " Holdings ” , or the " Company " ) ( NYSE : EQH ) today announced financial results for the third quarter ended September 30 , 2021 . " Driven by solid performance across our retirement and asset management businesses , we reported strong third quarter results , with non - GAAP operating earnings of $ 1.94 per share , a 56 % year - over - year increase and up 13 % sequentially over the prior quarter . Sustained growth of our capital - light businesses , positive net inflows and favorable equity markets propelled AUM up 17 % to reach $ 871 billion , a record high . We remain uniquely positioned through our leading insurance offerings , affiliated distribution model and premier asset management subsidiary to capture the full value chain for our stakeholders , " said Mark Pearson , President and Chief Executive Officer . Mr. Pearson continued , “ Our fair value economic approach resulted in minimal assumption impacts in the third quarter and positions us well for LDTI while reinforcing our robust capital position and ability to deliver attractive returns . We have also made significant progress mitigating Reg . 213 redundant reserves since the half - year and are pleased to announce a XXX financing transaction , unlocking $ 1 billion of capital , as we continue to create value for our shareholders and generate significant free cash flow . " Consolidated Results ( in millions , except per share amounts or unless otherwise noted ) Third Quarter 2021 2020 Total Assets Under Management ( " AUM " , in billions ) $ 871 $ 746 Net income ( loss ) attributable to Holdings 672 ( 779 ) Net income ( loss ) attributable to Holdings per common share 1.59 ( 1.77 ) Non - GAAP operating earnings ( loss ) 818 568 Non - GAAP operating earnings ( loss ) per common share ( " EPS " ) 1.94 1.24 1 This press release includes certain non - GAAP financial measures . More information on these measures and reconciliations to the most comparable U.S. GAAP measures can be found in the “ Use of Non - GAAP Financial Measures " section of this release . 1