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The Hartford Announces Offering of $300 Million of 6.000% Non-Cumulative Preferred Stock

HARTFORD, Conn.--(BUSINESS WIRE)--

The Hartford today announced the offering of 12,000,000 depositary shares, each of which represents a 1/1,000th interest in a share of its 6.000% Non-Cumulative Preferred Stock, Series G, $25,000 liquidation preference per share (equivalent to $25.00 per depositary share). The public offering price is $25.00 per depositary share for an aggregate public offering price of $300 million. The offering is expected to close on November 6, 2018, subject to customary closing conditions. The Hartford has granted the underwriters the option to purchase up to an additional 1,800,000 depositary shares solely to cover over-allotments, if any, within 30 days of the date of the prospectus supplement.

The Hartford intends to use the net proceeds from this offering for various purposes, which may include repayment of its 6.000% Senior Notes due January 15, 2019, the acquisition of The Navigators Group, Inc., and general corporate purposes, such as interest on debt and common stockholders’ dividends.

The Hartford intends to apply for listing of the depositary shares on the New York Stock Exchange under the symbol “HIG-PRG.” Wells Fargo Securities, BofA Merrill Lynch and Morgan Stanley are serving as joint book-running managers for the offering.

This press release is neither an offer to sell, nor a solicitation of an offer to buy, depositary shares or any other securities, and shall not constitute an offer to sell, or a solicitation of an offer to buy, or a sale of, depositary shares, or any other securities, in any jurisdiction in which such offer, solicitation or sale is unlawful. The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (“SEC”). The offering is being made only by means of a prospectus and related preliminary prospectus supplement, which may be obtained by visiting the SEC’s website at www.sec.gov. Alternatively, you may request these documents by calling Wells Fargo Securities, LLC at 1-800-645-3751 (toll-free); Merrill Lynch, Pierce, Fenner & Smith Incorporated at 1-800-294-1322 (toll-free); or Morgan Stanley & Co. LLC at 1-866-718-1649 (toll-free).

About The Hartford

The Hartford is a leader in property and casualty insurance, group benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity.

The Hartford Financial Services Group, Inc., (HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Conn. For additional details, please read The Hartford’s legal notice.

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Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our 2017 Annual Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.

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