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Retirement Industry Overview SUM M ER 2022Retirement Market Summary Summer 2022 Industry Updates and Drivers Houlihan Lokey Retirement Team Select Market Drivers ? The retirement market is massive, exceeding $37 trillion in assets. ? More than $10 trillion invested in defined contribution (DC) plans, including $7 trillion in 401(k) plans. ? Macroeconomic and geopolitical market pressures continue to displace the market and renew individuals’ desire for stability as they focus on retirement savings. Market Overview Eric Weber Managing Director New York EWeber@HL 646.645.1026 Chris Pedone Managing Director New York CPedone@HL 212.830.6166 ? Businesses are experiencing shifting employment dynamics during the “Great Resignation.” C-Suite executives understand that health, wealth, and benefits will be key in recruiting moving forward; we are likely to see the emergence of platforms that can focus on this convergence and provide holistic offerings. ? M&A activity within the retirement space continues to increase as there were more than twice as many deals in 2021 (76) than 2020 (32). ? Retirement and wealth continue to converge; emerging multi-functional platforms (CA