Humana — Feb 11, 2025 release

These efforts are leading to a better quality of life for people with Medicare, Medicaid, families, individuals, military service personnel, and communities at large. Learn more about what we offer at Humana.com and at CenterWell.com. 13 Humana Inc. Full Year 2025 Projections - As of February 11, 2025 Diluted earnings per common share GAAP: approximately $15.88 Non-GAAP: approximately $16.25 Total Revenues Consolidated GAAP: $126 billion to $128 billion Consolidated and segment level revenue projections include expected investment income. Segment level revenues include amounts that eliminate in consolidation. Insurance segment GAAP: $121 billion to $123 billion CenterWell segment GAAP: $20.5 billion to $21.5 billion Change in year-end medical membership from prior year-end Individual Medicare Advantage Decline of approximately 550,000 Group Medicare Advantage Relatively flat Medicare stand-alone PDP Growth of approximately 200,000 State-based contracts Growth within 175,000 to 250,000 range State-based contracts guidance includes membership in Florida, Illinois, Indiana, Kentucky, Louisiana, Ohio, Oklahoma, South Carolina, Virginia, and Wisconsin. Benefit Ratio  Insurance segment GAAP: 90.1% to 90.5% Ratio calculation: benefits expense as a percent of premiums revenues. Operating Cost Ratio Consolidated GAAP: 11.3% to 11.7% Ratio calculation: operating costs excluding depreciation and amortization as a percent of revenues excluding investment income. Segment Results Insurance segment income from operations GAAP: $1.5 billion to $2.0 bill