AST BlackRock Value Portfolio - Prudential Annuities

Anticipated Asset Allocation Ranges for the Portfolio. As set forth above, the Portfolio may gain exposure to the domestic and
international equity and fixed-income asset classes through investments in securities and the Prudential Core Fund. The Portfolio
also may gain exposure to the relevant asset classes through the use of derivatives and other financial instruments. The Portfolio’s
minimum, neutral, and maximum exposures to the relevant asset classes under normal circumstances is set forth below.
Asset Class Minimum Exposure Neutral Exposure Maximum Exposure
Equities
Domestic Equity 45% 50% 55%
International Equity 15% 20% 25%
Total Equities 62.5%* 70% 77.5%**
Fixed-Income
Core and Core Plus Fixed-Income 20% 28% 35%
Cash/Money Market 0% 2% 10%
Total Fixed-Income 22.5%*** 30% 37.5%****
* Notwithstanding the individual minimum exposures for the Domestic Equity (i.e., 45%) and International Equity (i.e., 15%) asset classes, the minimum combined exposure to equity
investments is 62.5% of the Portfolio’s net assets.
** Notwithstanding the individual maximum exposures for the Domestic Equity (i.e., 55%) and International Equity (i.e., 25%) asset classes, the maximum combined exposure to
equity investments is 77.5% of the Portfolio’s net assets.
*** Notwithstanding the individual minimum exposures for the Core and Core Plus Fixed-Income (i.e., 20%) and Cash/Money Market (i.e., 0%) asset classes, the minimum combined
exposure to fixed-income investments is 22.5% of the Portfolio’s net assets.
**** Notwithstanding the individual maximum exposures for the Core and Core Plus Fixed-Income (i.e., 35%) and Cash/Money Market (i.e., 10%) asset classes, the maximum combined
exposure to fixed-income investments is 37.5% of the Portfolio’s net assets.
Temporary Defensive Investments. For temporary defensive purposes, the Portfolio may deviate substantially from the anticipated
asset allocation ranges set forth above. To that end, up to 100% of the Portfolio’s assets may be invested in cash and cash
equivalents, including affiliated money market funds, high-quality money market instruments, or repurchase agreements in order
to respond to adverse market, economic, political, or other conditions or to satisfy redemption requests. The Portfolio may miss
certain investment opportunities if defensive strategies are used and thus may not achieve its investment objective.
Investments in Other Investment Companies. The Portfolio may invest in other investment companies to the extent permitted by
the Investment Company Act of 1940 Act, as amended, and the rules thereunder. These investments would be managed by the
Investment Managers and would be used as: (i) a completion strategy to access and adjust exposures to various asset classes and
(ii) an overlay strategy to enhance total return and manage portfolio risk at the aggregate level. Under normal market conditions,
no more than 10% of the Portfolio’s assets would be allocated to such investments. The Investment Managers intend to invest
exclusively in other pooled investment vehicles (collectively, the “Other Funds”) and ETFs as part of these investments.
Investments in Other Funds and ETFs will subject this Portfolio segment to the fees and expenses (e.g., investment management
fees and other expenses) and risks associated with the relevant Other Funds and ETFs. Such investments in Other Funds and ETFs
will not, however, be implemented upon the Portfolio’s commencement of operations. Instead, the Investment Manager will wait
until the Portfolio achieves additional scale before making such investments.
AST PARAMETRIC EMERGING MARKETS EQUITY PORTFOLIO
Investment Objective: Long-term capital appreciation.
Principal Investment Policies:
Under normal market conditions, the Portfolio invests at least 80% of its net assets in equity securities of issuers: (i) located in
emerging market countries or (ii) included (or considered for inclusion) as emerging market issuers in one or more broad-based
market indices. This 80% policy is not a fundamental policy.
A company is considered to be located in an emerging market country if it is domiciled in, or derives more than 50% of its
revenues or profits from, emerging market countries. Emerging market countries are generally countries not considered to be
developed market countries, and therefore not included in the MSCI World Index. Emerging market countries include countries in
Asia, Latin America, the Middle East, Southern Europe, Eastern Europe, Africa and the region comprising the former Soviet Union.
The Portfolio may invest without limit in foreign securities.
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