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Prosperity Withdraws Proposal to Acquire American Equity

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NEW YORK--(BUSINESS WIRE)-- Today, Prosperity Group Holdings LP (“Prosperity”) issued the following statement, regarding its proposal to acquire the common shares of American Equity Investment Life Holding Company (“American Equity”) (NYSE: AEL):

“Prosperity is withdrawing its proposal to acquire American Equity for $45.00 per share. Given American Equity’s refusal to engage and our desire to proceed only on a constructive basis, Prosperity has no interest in continuing to pursue our proposed transaction at this time.”

ABOUT PROSPERITY

The Prosperity Group provides financial security to middle-market consumers through protection, asset accumulation, and supplemental products alongside innovative capital, risk management and asset management solutions for insurance and reinsurance clients. The current platform, which consists of insurance, reinsurance and asset management businesses, has been successfully built since the acquisition by funds affiliated with Elliott Investment Management LP in 2019. For more information, please visit www.prosperitylife.com.

Media:

Steve Murray, Rubenstein

212-843-8293

Smurray@rubenstein.com

Source: Prosperity Group Holdings LP

American Equity Investment Life Holding Company

NYSE:AEL

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About AEL

fixed index annuities * retirement planning * customer service an american-owned and operated company headquartered in the heart of the midwest, american equity investment life insurance company® is a leader in the fixed indexed annuities marketplace. american equity’s growth and success is attributed to our dedication to excellent customer service and emphasis on building customer relationships. “the one who works for you!®” serves as the foundation for the way american equity does business and values its more than 500 employees. guided by our principles of excellence, we do more than sell retirement annuity products -- we are dedicated to fostering opportunity and innovation to meet the ever-changing needs and goals of retirement. we are about principles. we are the one who works for you! social media terms and conditions of use: https://www.american-equity.com/social-media-terms