Business Description

For the purposes of this discussion, the terms "Voya," "the Company," "we," "our," and "us" refer to Voya Financial, Inc. and its subsidiaries. We are a leading provider of workplace benefits and savings solutions and technologies to U.S. employers, enabling better financial outcomes for their employees and for those who depend on their employees through our retirement solutions, retail wealth services, and a comprehensive portfolio of benefits products. We are also a leading international asset manager, built on a foundation of institutional-quality fixed income and private asset strategies, with a well-established presence in U.S. markets and a large and growing business managing retail and institutional equity, fixed income and blended strategies for clients in Europe and Asia. Voya has over 18 million individual customer relationships and more than 50 thousand employer and institutional client relationships across its businesses, as of December 31, 2025. We are committed to business practices centered on a culture of service to our customers, clients, colleagues and communities. Our approximately 11,000 employees (as of December 31, 2025), throughout the U.S. and in our global services capability center in India, are united by our Company's purpose: together we fight for everyone's opportunity for a better financial future. We offer our products and services through a broad group of financial intermediaries, independent producers, affiliated advisors and dedicated sales specialists throughout the U.S., and also offer investment management services to international clients. We provide our workplace benefits and savings products to employers across every segment of the U.S. economy, in private, public, and tax-exempt markets, from small businesses with fewer than 50 employees to the largest corporations and public-sector employers in the country. Through our retirement platform and associated retail wealth capabilities, we reach nearly 10 million workplace retirement plan participant accounts as they enroll in retirement plans, choose contribution amounts, manage investment options, build wealth and improve financial wellness. We are also a leading provider of benefits administration services, through which we engage directly with approximately 12.2 million employees in the U.S. as they enroll in and use workplace benefits on our open-architecture, product-agnostic, desktop and mobile administration platforms. We have strong market positions across both Retirement and Employee Benefits, with a full spectrum of solutions to serve the needs of employers and their employees. In Retirement, our award-winning retirement administration platform allows employees to plan for retirement and achieve better financial outcomes via leading financial wellness solutions such as our myVoyage decision support tool. Also within Retirement, our Wealth Management business offers advisory services to help individuals plan, protect and invest to and through retirement, with products and services provided through our registered investment advisor and broker-dealer, Voya Financial Advisors ("VFA"). In Employee Benefits, our comprehensive portfolio of group insurance and health account solutions helps protect employees and promote financial security during life's unexpected events, while our subsidiary Benefitfocus, Inc. ("Benefitfocus") provides our Benefitplace benefits administration platform to help employees select and use the best benefits options for their individual circumstances. For employers, these capabilities maximize the value of benefits spending and promote a healthier and more financially secure workforce. In our Investment Management business, our strong culture of client service and specialized capabilities for institutional clients have established us as a leading manager for institutional mandates, especially in the insurance and pension fund markets. Our private asset capabilities, with particular strength in private fixed income and secondary private equity coupled with strong distribution capabilities, distinguish us in both the institutional and intermediary markets. Our strength in international retail markets, especially in Asia, is driven by scaled and highly competitive investment strategies distributed through our partnership with Allianz Global Investments.…