Centene — Apr 25, 2025 release

4 Outlook The Company is increasing its 2025 premium and service revenues guidance range by $6.0 billion to a range of $164.0 billion to $166.0 billion to reflect the following expectations: • $5.0 billion of additional Marketplace premium revenue due to outperformance in enrollment throughout the first quarter; and • outperformance in the Medicare Advantage annual enrollment period resulting in $1.0 billion of additional premium revenue. The Company reiterates its 2025 GAAP diluted EPS guidance floor of greater than $6.19 and its 2025 adjusted diluted EPS guidance floor of greater than $7.25. The Company's annual guidance for 2025 is as follows and will be discussed further on our conference call: Full Year 2025 GAAP diluted EPS > $6.19 Adjusted diluted EPS (1) > $7.25 (1) A full reconciliation of adjusted diluted EPS is shown in the Non-GAAP Financial Presentation section of this release. Full Year 2025   Low High  Total revenues (in billions) $ 178.5  $ 181.5  Premium and service revenues (in billions) $ 164.0  $ 166.0  HBR 88.9  % 89.5  % SG&A expense ratio 7.7  % 8.2  % Adjusted SG&A expense ratio (2) 7.7  % 8.2  % Cost of services expense ratio 88.2  % 88.8  % Effective tax rate 21.5  % 22.5  % Adjusted effective tax rate (3) 22.0  % 23.0  % Diluted shares outstanding (in millions) 491.0  494.0  (2) Represents a non-GAAP financial measure. Adjusted SG&A expense ratio excludes acquisition and divestiture related expenses of approximately $550 thousand. (3) Represents a non-GAAP financial measure. Adjusted effective tax rate excludes income tax effects of adjustments of approximately $165 million to $168 million. Conference Call As previously announced, the Company will host a conference call Fr