AST BlackRock Value Portfolio - Prudential Annuities

AST Quantitative Modeling Portfolio: Through May 1, 2012, the Investment Managers contractually agreed to waive a portion of their investment management fees and/or reimburse
certain expenses for the Portfolio so that the Portfolio’s investment management fees plus other expenses (exclusive in all cases of taxes, interest, brokerage commissions, distribution
fees, acquired fund fees and expenses and extraordinary expenses) did not exceed 0.30% of the Portfolio’s average daily net assets. This waiver / expense arrangement, although no
longer in effect, was in effect during all of calendar year 2011. As a result of this waiver / expense arrangement, the amounts waived by the Investment Managers exceeded the
management fee that would have been incurred by the Portfolio. The contractual management fee rate for the Portfolio is 0.25%.
AST Schroders Global Tactical Portfolio: Prior to April 30, 2012, the management fee rate for the Portfolio was 0.30%, and management fees paid for the fiscal year ended December
31, 2011 were paid at the rate of 0.30%.
The Investment Managers have entered into a contractual waiver so that the AST Schroders Global Tactical Portfolio’s investment management fee equals 0.95% of its first $4 billion
of average daily net assets and 0.93% of its average daily net assets in excess of $4 billion through June 30, 2012.
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