Humana — Nov 5, 2025 release

Learn more about what we offer at Humana.com and at CenterWell.com. 13 Humana Inc. Full Year 2025 Projections - As of November 5, 2025 Diluted earnings per common share (EPS) As of 3Q25 Earnings As of 2Q25 Earnings GAAP: approximately $12.26 GAAP: approximately $13.77 no change Non-GAAP: approximately $17.00 Total Revenues Consolidated no change GAAP: at least $128 billion Consolidated and segment level revenue projections include expected investment income. Segment level revenues include amounts that eliminate in consolidation. Insurance segment no change GAAP: at least $123 billion CenterWell segment no change GAAP: at least $21.5 billion Change in year-end medical membership from prior year-end Individual Medicare Advantage Decline of approximately 425,000 Decline of 'up to 500,000' Group Medicare Advantage no change Relatively flat Medicare stand-alone PDP no change Growth of approximately 200,000 State-based contracts Growth of approximately 160,000 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 no change GAAP: 90.1% to 90.5% Ratio calculation: benefits expense as a percent of premiums revenues. Operating Cost Ratio Consolidated GAAP: 11.6% to 12.1% Non-GAAP: 11.3% to 11.7% GAAP: 11.3% to 11.7% Ratio calculation: operating costs ex