Core Insights - Voya Financial reported revenue of $294 million for Q1 2025, a 2.4% increase year-over-year, with EPS at $2.15 compared to $1.88 in the same quarter last year, exceeding Zacks Consensus Estimates for both revenue and EPS [1] - The company experienced a revenue surprise of +21.90% and an EPS surprise of +35.22% compared to analyst expectations [1] Financial Performance Metrics - Total Assets Under Management (AUM) and Assets Under Administration (AUA) in Wealth Solutions reached $694.18 billion, surpassing the average estimate of $667.24 billion [4] - Client Assets in Wealth Solutions - Full Service were $228.60 billion, below the average estimate of $252.60 billion [4] - Client Assets in Wealth Solutions - Recordkeeping were $401.12 billion, exceeding the average estimate of $351.32 billion [4] - Fee income revenue was $570 million, lower than the estimated $598.98 million but representing an 11.1% increase year-over-year [4] - Net investment income revenue was $560 million, exceeding the estimate of $493.49 million, marking a 5.9% year-over-year increase [4] - Premiums revenue was $737 million, below the estimated $807.52 million, reflecting a 7.9% decrease year-over-year [4] - Adjusted Operating Revenues for Investment Management - Total were $243 million, slightly below the estimate of $245.39 million, with a 3.9% year-over-year increase [4] - Adjusted Operating Revenues for Investment Management - Fee income was $236 million, close to the estimate of $237.09 million, with a 4% year-over-year increase [4] - Adjusted Operating Revenues for Investment Management - Net investment income and net gains (losses) were $6 million, exceeding the estimate of $5.53 million but showing a 33.3% year-over-year decline [4] - Adjusted Operating Revenues for Corporate - Net investment income and net gains (losses) were $6 million, surpassing the estimate of $5 million, with a 50% year-over-year increase [4] - Adjusted Operating Revenues for Corporate - Total were $6 million, exceeding the estimate of $5.38 million, also reflecting a 50% year-over-year increase [4] Stock Performance - Voya's shares returned +10.4% over the past month, compared to the S&P 500 composite's +11.5% change, with a Zacks Rank of 5 (Strong Sell), indicating potential underperformance in the near term [3]

Voya Financial (VOYA) came out with quarterly earnings of $2.15 per share, beating the Zacks Consensus Estimate of $1.59 per share. This compares to earnings of $1.88 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 35.22%. A quarter ago, it was expected that this retirement, investment and insurance company would post earnings of $0.71 per share when it actually produced earnings of $1.50, delivering a surprise of 111.27%.Over ...

Financial Highlights - The company highlights FY'24 financial results, including specific figures of $1.40, $138, $93, and $0.1 billion [12] - The company's balance sheet is strong, indicated by $150 million and percentages of 385% and 27.5% [22] - Voya Investment Management manages $345 billion in assets [36] - The General Account (GA) Alternatives portfolio totals $1.92 billion as of March 31, 2025 [61] - The General Account investment portfolio totals $39 billion [59] Business Segment Performance - Wealth Solutions' participant accounts have grown at a 6% CAGR (2020-2025), now exceeding 9 million [32] - Wealth Solutions' average historical adjusted operating earnings are 66% [34] - Over 95% of the investment portfolio is investment grade [56] Investment Metrics - Voya Investment Management reports investment metrics, with specific percentages for 1, 3, 5, and 10-year performance across Equity, Multi-Asset, Fixed Income, and Income & Growth categories [45] Capital Management - The company's Q1'25 TTM capital generation is in line with a 90%+ target [64]

Exhibit 99.2 Quarterly Investor Supplement March 31, 2025 This report should be read in conjunction with Voya Financial, Inc.'s Quarterly Report on Form 10-Q for the Three Months Ended March 31, 2025. Voya Financial's Annual Reports on Form 10-K, and Quarterly Reports on Form 10-Q, can be accessed upon filing at the Securities and Exchange Commission's website at www.sec.gov, and at our website at investors.voya.com. All information is unaudited. Voya Financial Mei Ni Chu 200 Park Avenue IR@voya.com New Yor ...

Core Insights - Albert Anthony is a Croatian-American media personality who has gained over 1,000 followers on investor platforms since 2023, focusing on markets and stocks [1] - He is set to launch a new book titled "Financial Markets: Growing A Dividend Income Portfolio" in 2025, which aligns with his ongoing article series on the same topic [1] - Albert Anthony has a background in management and information systems, having worked in a top-10 financial firm's IT department [1] Company Overview - Albert Anthony & Co. is a sole proprietorship registered in Austin, Texas, and is wholly owned by Albert Anthony [1] - The company does not provide personalized financial advisory services but offers general market commentary based on publicly available data [1] - The Future Investor Fund, launched by Albert Anthony, focuses on building a dividend portfolio [1] Educational Background - Albert Anthony has completed degrees and certificates from several institutions, including Drew University, Corporate Finance Institute, and UVA Darden School of Business [1] - He has attended various business and innovation conferences in Southeast Europe and has spoken at startup and digital nomad events [1]

Core Viewpoint - Voya Financial reported a mixed performance in its Q4 2024 earnings, with adjusted operating earnings per share of $1.50, significantly beating estimates but showing a year-over-year decline of 23.8% due to higher loss ratios and lower spread-based assets [2][11]. Financial Performance - Adjusted operating revenues reached $1.9 billion, marking a 12.5% increase year-over-year, while net investment income slightly decreased by 0.2% to $521 million [3]. - Fee income rose by 11% to $543 million, and premiums increased by 17.4% to $790 million [3]. - Total benefits and expenses were $1.8 billion, up 10% from the previous year [3]. Segment Analysis - Wealth Solutions saw adjusted operating earnings of $210 million, a 42.8% increase year-over-year, driven by fee-based revenue growth and disciplined expense management [4]. - Health Solutions reported a pre-tax adjusted operating loss of $102 million, a decline from a profit of $44 million in the previous year, primarily due to higher loss ratios [5]. - Investment Management posted pre-tax adjusted operating earnings of $66 million, up 46.7% year-over-year, benefiting from strong business momentum and positive capital markets [6]. - Corporate segment incurred pre-tax adjusted operating losses of $27 million, an improvement from a loss of $34 million in the prior year [7]. Financial Position - Voya Financial ended the quarter with cash and cash equivalents of $1.4 billion, a 49.3% increase year-over-year, while total investments decreased by 4.3% to $35 billion [8]. - Long-term debt was $2.1 billion, up 0.2% from the end of 2023, and the financial leverage ratio deteriorated by 250 basis points to 30.3% [8]. - Book value per share increased by 5.4% to $61.31, and the company had approximately $0.6 billion of excess capital [8]. Capital Deployment - Voya Financial returned $800 million of excess capital to shareholders in 2024, including $140 million in share repurchases and $43 million in dividends [10]. - As of December 31, 2024, the remaining share repurchase authorization stood at $761 million [10]. Full-Year Highlights - For the full year 2024, adjusted operating earnings per share were $7.79, a 3% decrease year-over-year, but still beating estimates by 17.3% [11]. - Adjusted operating revenues increased by 9.7% to $7.5 billion compared to the previous year [11]. Estimate Trends - Estimates for Voya Financial have trended downward, with a consensus estimate shift of -9.09% over the past month [12].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 —————————————————————— FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35897 Voya Financial, Inc. | (Exact name of registrant as specified in its charter) | | | | --- | --- | --- | | Delaware ...

Financial Data and Key Metrics Changes - Adjusted operating earnings per share for Q4 2024 were reported at $1.40, contributing to a full-year result of $7.25 [23] - Full-year alternative income returns were approximately 7%, which was below long-term expectations by $0.53 [24] - Free cash flow conversion was approximately 90% in 2024, with expectations for continued performance in 2025 and 2026 [26][46] Business Line Data and Key Metrics Changes - Wealth Solutions earnings increased by 30% year-over-year, with revenue growth and adjusted operating margin exceeding full-year targets [10] - Voya Investment Management achieved a 20% year-over-year earnings growth, with an organic growth rate above 4% for the year [11] - Health Solutions reported adjusted operating earnings of $40 million for the year, impacted by unfavorable claims experience in Stop Loss [30] Market Data and Key Metrics Changes - Wealth Solutions generated $2 billion of defined contribution net flows in 2024, demonstrating strong commercial momentum [11] - Voya Investment Management recorded total net inflows of $12.5 billion for 2024, with a significant portion coming from institutional clients [38] - Defined contribution retention rate was 98.5%, up 60 basis points year-over-year [34] Company Strategy and Development Direction - The company aims to improve Stop Loss margins through increased pricing and improved risk selection actions [14] - Integration of the OneAmerica transaction is a strategic priority, expected to contribute $200 million in revenue and $75 million in incremental operating earnings in 2025 [16] - Focus on enhancing capabilities in leave management and disability administration to drive competitiveness in bundled Health Solutions [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the adequacy of reserves to cover future claims based on January experience [9] - The company anticipates significant improvement in Stop Loss margins and overall profitability in 2025 and 2026 [46] - Management highlighted the importance of maintaining a balanced approach to capital return and growth investments [45] Other Important Information - The company returned $800 million of excess capital to shareholders in 2024 through share repurchases and dividends [12] - The acquisition of Sconset Re is expected to yield attractive investment returns and strengthen Voya's position in the insurance asset management market [21] - The company plans to maintain a strategic approach to capital management, with expectations for increased excess capital generation in 2025 and 2026 [46] Q&A Session Summary Question: What are the factors affecting the ROE guidance for 2025? - Management acknowledged the impact of weaker Stop Loss results, investments in leave management, and lower prepayment income on the ROE guidance of 12% to 13% for 2025 [51][52] Question: Will the $50 million strategic spend on leave management recur in 2026? - Management indicated that the strategic spend is primarily expected to impact 2025, with a breakeven expectation for 2026 and positive earnings anticipated in 2027 [64][65] Question: What gives confidence in improved risk selection for Stop Loss? - Management emphasized a focus on known claims and improved pricing strategies, along with a commitment to margin over premium growth [66][70] Question: How will OneAmerica's acquisition impact wealth flows in 2025? - Management noted that while there may be volatility in flows due to OneAmerica, the fundamentals of the wealth business remain strong, with a solid pipeline of plans [78][79] Question: What actions are being taken to improve the voluntary business loss experience? - Management highlighted the importance of increasing utilization of voluntary products and improving administrative capabilities to drive higher participation rates [102][104]

Voya Financial Fourth Quarter 2024 Results and 2025 Outlook Call Information contained herein is proprietary, confidential and non-public and is not for public release. 1 Forward-Looking and Other Cautionary Statements 2 Key Themes & Strategic Priorities Information contained herein is proprietary, confidential and non-public and is not for public release. 3 Key Themes: Poised for Meaningful Growth in FY'25 | Health Solutions Positioned for | ❑ ❑ | | --- | --- | | Meaningful | ▪ | | Improvement in FY'25 | ▪ ...

Core Viewpoint - Voya Financial, Inc. reported strong fourth-quarter 2024 adjusted operating earnings of $1.50 per share, significantly exceeding expectations, despite a year-over-year decline of 23.8% due to higher loss ratios and lower spread-based assets [1][11]. Financial Performance - Adjusted operating revenues reached $1.9 billion, marking a 12.5% increase year over year [2]. - Net investment income slightly decreased by 0.2% year over year to $521 million [2]. - Fee income rose by 11% year over year to $543 million, while premiums increased by 17.4% to $790 million [2]. - Total benefits and expenses were $1.8 billion, up 10% from the previous year [2]. Segmental Update - Wealth Solutions reported adjusted operating earnings of $210 million, a 42.8% increase year over year, driven by growth in fee-based revenues and alternative investment income [4]. - Health Solutions experienced a pre-tax adjusted operating loss of $102 million, a decline from earnings of $44 million in the previous year, primarily due to higher loss ratios [5]. - Investment Management posted pre-tax adjusted operating earnings of $66 million, up 46.7% year over year, supported by higher fee-based revenues and net inflows of $3.4 billion [6]. - Corporate segment incurred pre-tax adjusted operating losses of $27 million, an improvement from a loss of $34 million in the prior year [7]. Financial Update - Voya Financial ended the quarter with cash and cash equivalents of $1.4 billion, a 49.3% increase year over year [8]. - Total investments amounted to $35 billion, down 4.3% year over year [8]. - Long-term debt was $2.1 billion, a slight increase of 0.2% from the end of 2023 [8]. - Book value per share (excluding AOCI) increased by 5.4% year over year to $61.31 [9]. Capital Deployment - The company returned $800 million of excess capital to shareholders in 2024, including $140 million in share repurchases and $43 million in dividends [10]. - As of December 31, 2024, Voya had a remaining share repurchase authorization of $761 million [10]. Full-Year Highlights - For the full year 2024, adjusted operating earnings per share were $7.79, a decrease of 3% year over year, but still beating the consensus estimate by 17.3% [11]. - Adjusted operating revenues for the full year increased by 9.7% to $7.5 billion [11].