Centene Corporation · NYSE:CNC
Centene — Shareholder Meeting (April 2023)
14 slides from Centene's shareholder meeting presentation, Apr 3, 2023
Slide 1: 2023 Stockholder Meeting Investor Outreach
2023 Stockholder Meeting Investor Outreach April 2023
Slide 2: Forward-Looking Statements
Forward-Looking Statements Allstatements, other than statements of current or historical fac, contained inthis presentation are forward: locking statements. Without Imiting the foregoing forward-looking statements often use words such as believe” “anticipate! plan” “expect. ‘estimate’ “ntend"“seek"
Slide 3: Centene Corporation: Financial and Business Highlights
Centene Corporation: Financial and Business Highlights $144.5 billion $2.07 Total Revenues, a 15% increase vs. 2021 Diluted Earnings Per Share (EPS) ($5.78 9% 10% Adjusted Diluted EPS TSR 3-Year TSR 5-Year CAGR CAGR / / Medicaid | Marketplace | Medicare Advantage We are the largest Medicaid We are t
Slide 4: Value Creation: Measuring Progress in 2022
Value Creation: Measuring Progress in 2022 Begin Phase 2 Launch Tool to : Technology Provider (Phase 1) ‘Share Repurchase Qi Q2 Q3 Q4 H H Completed Oct. 2022 Initiate Pharmacy Platform H ‘Award PBM Standardization Consolation (#1) grategialy H + Septet Contract for 2024 Call H ' Neerenon Price 2023
Slide 5: Stockholder Responsiveness
Stockholder Responsiveness Board Refreshment Enhance Stockholder Rights Modernize Board Committees CENTENE What We Heard What We Changed Long-tenured Lead Independent Director / Appointed James Dallas as new Lead Independent Director in January 2022 Separate CEO and Chairman roles Y_ Separated CEO a
Slide 6: Stockholder Responsiveness: Executive Compensation
Stockholder Responsiveness Executive Compensation CENTENE Align CEO compensation with peers Align NEO compensation with peers Annual Incentive Plan should have clearer performance targets Long-Term Incentive Compensation Program should have fewer components Long-Term Incentive Compensation Program s
Slide 7: CEO Compensation
CEO Compensation TSR and CEO Total Compensation TSR Indexed to $100 on December 31, 2018 Diluted EPS/Adjusted Diluted EPS and CEO Total Compensation Former CEO Total Compensation (excluding All Other Compensation), $ in millions $143 $142 $5.78 Current CEO Total Compensation (excluding All Other Com
Slide 8: Board Refreshment Timeline
Board Refreshment Timeline Jan 2022 e Kenneth A. Burdick Chairman and Chief Executive Officer of LifeStance Health Group, Inc. WJ Christopher J. Coughlin Retired Executive Vice President and Chief Financial Officer, Tyco International Ltd. de> Wayne S. DeVeydt Managing Director, Bain Capital; Execut
Slide 9: New Committee Structure
New Committee Structure » Audit and Compliance Committee, with jurisdiction over financial statements and disclosures; controls and procedures (including information technology and cybersecurity controls and procedures); the independent auditor; financing oversight; compliance (specifically, the jur
Slide 10: Compensation Evolution
Compensation Evolution CATEGORY Annualincentive Adjusted Diluted EPS 35% | Adjusted Diluted EPS 50% | Adjusted Diluted EPS 65% Plan Metrics & Business Unit & Individual Goals 50% | Business Unit & Individual Goals 40% | Business Unit & Individual Goals 25% Weighting SGB&A Expense Management 15% | Qu
Slide 11: Compensation Program 2022
Compensation Program 2022 2022 Pay Elements Award Type Mix Purpose = To recognize individual contribution, x Base Salary Cash 14% _ time inrole, scope of responsibility, z leadership skills and experience F IE Base Salary To reward executives for eae wee Annual Cash Incentive Plan Cash 17% Performan
Slide 12: Commitment to Environmental, Social, Health and Governance
Commitment to Environmental, Social, Health and Governance @ Advancing Environmental real Living Our Values Resilience + Environmental Impacts on Health * Ethics and Compliance + Environmental Sustainability * Governance and Accountability + Data Privacy and Security (QZ Serving Our Communities a Po
Slide 13: Awards and Recognition
Awards and Recognition Diversitylne Diversityine Diversityine FORTUNE) MEORTUNER MEL LLL PLACES TO WORK GN 2022 for LGBTQ+ Equality COMPANIES FOR B LAC K MOST ABRARED SomPaNes Great Place To Work. Certified ocr 2022-SeP 2023 CANADA D — | BEST PLACE TO WORK FOR a pes} | DISABILITY INCLUSION ERE NATIO
Slide 14: Appendix A: Reconciliation of Non-GAAP Measures
Appendix A: Reconciliation of Non-GAAP Measures Reconciliation of GAAP Diluted EPS to Adjusted Diluted EPS: Year Ended December 31, 2022 2021 2020 2019 2018 GAAP Diluted EPS attributable to Centene $207 $228 $312 $314 $226 Amortization of acquired intangible assets 1.40 1.31 1.24 0.61 0.53 Acquisiti