Horace Mann Educators Corporation · NYSE:HMN
Horace Mann Educators — Merger or Acquisition (July 2026)
13 slides from Horace Mann Educators's merger presentation, Jul 21, 2026
Slide 1: Strengthening customer relationships, accelerating long-term profitable growth
Strengthening customer relationships, accelerating long-term profitable growth through transactions with Medical Mutual of Ohio Enhancing our employer solutions platform, expanding distribution capabilities, and broadening market reach July 21, 2026
Slide 2: Safe Harbor Statement and Non-GAAP Measures
Safe Harbor Statement and Non-GAAP Measures Certain statements included in this presentation, including those regarding our earnings outlook, expected catastrophe losses, our investment strategies, our plans to implement additional rate actions, our plans relating to share repurchases and dividends,
Slide 3: Transaction summary
Transaction summary • Horace Mann Educators Corporation (NYSE: HMN) to acquire three complementary businesses from Medical Mutual of Ohio (MMO) • Acquisitions broaden employer solutions platform, expand customer reach and distribution capabilities across: • Employee Assistance Program (ESI): Legal e
Slide 4: Educator-centric foundation
Educator-centric foundation Mission-driven, solutions-based, focused on building long-term customer relationships Who we are How we grow • Largest multiline financial services company Educator focused on America’s educators HM • Trusted relationships built over 80+ years Centric • Building on our ed
Slide 5: Acquisitions enhance our employer solutions platform and expand market reach
Acquisitions enhance our employer solutions platform and expand market reach Building on our educator-centric foundation by expanding customer relationships, solutions, and distribution Broadens solutions platform . Employee assistance program enhances employer value proposition . Scales high-margin
Slide 6: Enhances our employer value proposition with differentiated employee assistance program (EAP) capabilities
Enhances our employer value proposition with differentiated employee assistance program (EAP) capabilities • Mission-driven foundation with nearly 2025 Financial Highlights 60% of the portfolio in education and Revenue $19.8 million community-oriented sectors • Currently serving ~3,450 employer grou
Slide 7: Expands distribution and customer reach through a scaled Individual Supplemental platform
Expands distribution and customer reach through a scaled Individual Supplemental platform • National Individual Accident & Health 2025 Financial Highlights carrier serving adjacent customer Revenue $97.5 million segments with shared economic characteristics and protection needs of Pre-tax earnings $
Slide 8: Scales Group Benefits platform through a capital-efficient transaction structure
Scales Group Benefits platform through a capital-efficient transaction structure • Scaled Group Life and Disability platform 2025 Financial Highlights focused on mid-to-large employers Revenue $62.1 million • Currently serving ~4,000 employer groups and more than 245,000 covered lives Pre-tax earnin
Slide 9: Accelerates progress against Investor Day targets
Accelerates progress against Investor Day targets Building on our educator-centric foundation by expanding our value proposition, customer relationships, and distribution Accelerates high Increases scale Enhances capital quality revenue of the platform efficiency Growth Expense Capitol Initiatives O
Slide 10: Transaction increases scale and further diversifies earnings mix toward higher-return businesses
Growth Expense Operating Transaction increases scale and further diversifies Initiatives Optimization Leverage earnings mix toward higher-return businesses Total Revenue(1) Pre-tax Core Earnings*(2) +11% $1.9B +9% $312 - 317M $1.7B IS&GB IS&GB 25% $292M IS&GB 17% ~32% IS&GB L&R L&R 26% L&R 32% 29% L
Slide 11: Accelerates growth of educator, employer, and adjacent customer relationships
Growth Expense Operating Accelerates growth of educator, employer, Initiatives Optimization Leverage and adjacent customer relationships 2M+ Relationships(1) 1M+ Households • Adds more than one million covered lives across employer-sponsored benefits and EAP • Adds more than 7,000 employer relations
Slide 12: Enhances capital efficiency and supports long-term operating leverage
Growth Expense Operating Enhances capital efficiency and supports long-term Initiatives Optimization Leverage operating leverage ~$165M to Non-P&C RBC Ratio ~$195M Insurance Co Dividend Capacity 434% 400% 375% - 400% ~40% Shareholder Dividends 25 - 30% Interest & Holdco Expense YE 2025 Pro Forma Tar
Slide 13: Contact
Contact Rachael Luber Vice President, Investor Relations rachael.luber@horacemann.com investors.horacemann.com 13
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