Prudential Financial, Inc. (NYSE:PRU) announced today that it has obtained the approval of the Chilean Superintendence of Pensions for its previously announced proposed acquisition of an indirect ownership interest in Administradora de Fondos de Pensiones Habitat S.A. (AFP Habitat), a leading provider of retirement services in Chile that trades under the symbol HABITAT CI on the Santiago Stock Exchange. Prudential expects to acquire indirectly between approximately 34 and 40 percent of AFP Habitat from Inversiones La Construcción S.A. (“ILC”), the investment subsidiary of the Chilean Construction Chamber, depending on the results of a pre-closing partial tender offer by a subsidiary of ILC to acquire up to 13 percent of AFP Habitat’s outstanding shares from public shareholders at a price of $899.90 Chilean Pesos per share. ILC has announced that this tender will commence on January 28, 2016 and, unless extended, will expire on February 26, 2016. Following the completion of the tender offer, Prudential will acquire its indirect interest in the AFP Habitat shares from ILC for 899.90 Chilean Pesos per share, for a total purchase price of approximately US$430 million to US$510 million at current exchange rates. It is expected that the transaction will result in equal ownership positions for Prudential and ILC, with a controlling stake in AFP Habitat held through a joint holding company.

Spanish and English copies of the Notice of Commencement of the tender offer and the Prospectus of the tender offer, which contains important information about the tender offer, including procedures and deadlines for accepting the tender offer and certain considerations in making a decision whether or not to accept the tender offer, can be found in ILC’s website at http://www.ilcinversiones.cl/inv_opa_afp_habitat.aspx and http://www.ilcinversiones.cl/inv_opa_afp_habitat_en.aspx.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with more than $1 trillion of assets under management as of September 30, 2015, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit www.news.prudential.com.