Celebrating 2025, together

This holiday season, I'm especially grateful for the impact of Northwestern Mutual and for the relationships that make our work both possible and deeply fulfilling. These relationships extend through the generations of Northwestern Mutual leaders and reach beyond the walls of our company.

My first year as CEO has reinforced my belief that relationships are foundational to Northwestern Mutual's success and are a key part of what makes this company truly special. At the heart of this company's culture is doing the right thing and treating people fairly — unconditionally. I'm grateful to Northwestern Mutual's employees and field for their diligent efforts in growing our company in 2025, as well as to my external colleagues, peers, and friends for their invaluable partnership and encouragement throughout the year.

Wishing you a happy and joyful holiday season.

Tim Gerend

Chairman, President and Chief Executive Officer