Investor Supplement First Quarter 2024 Caution Regarding Forward-Looking Statements This Investor Supplement may contain or incorporate by reference information that includes or is based on forward- looking statements within the meaning of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Such statements involve known and unknown ris ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-18298 Kemper Corporation (Exact name of registrant as specified in its charter) (State or other jurisdiction of DE 95-4255452 (I.R.S. Employer Identification No.) 200 E. Randolp ...

KEMPER Earnings Call Presentation – 4Q 2023 Cautionary Statements Regarding Forward-Looking Information • changes in the frequency and severity of insurance claims; • claim development and the process of estimating claim reserves; • the impacts of inflation; • changes in interest rate environment; • supply chain disruption; • product demand and pricing; • effects of governmental and regulatory actions; • litigation outcomes and trends; • investment risks; • cybersecurity risks; • impact of catastrophes; and ...

Financial Data and Key Metrics Changes - The company reported a net loss of $2.28 per diluted share for the quarter, with an adjusted consolidated net operating loss of $0.44. This included a non-cash charge of $56 million related to pension obligations and adverse development in specialty auto of $78 million [6][9][10] - Net investment income for the quarter was $107 million, with a pretax equivalent annualized book yield of 4.6% [10] Business Line Data and Key Metrics Changes - The Specialty P&C business saw an underlying combined ratio improvement of 1.5 points sequentially and 6.3 points year-over-year, attributed to earned rate increases and underwriting actions [12][16] - The Life business generated net operating income of $15 million for the third quarter, showing improved profitability compared to the prior year [17] Market Data and Key Metrics Changes - The company noted that the California personal auto rate increase of 30 points, effective in August, had a marginal earned impact in the third quarter but is expected to significantly increase in the following quarters [16][18] - The company is observing hard market conditions, particularly in California, which is contributing to favorable premium retention [12] Company Strategy and Development Direction - The company is focused on returning to profitability and maximizing long-term shareholder value, reaffirming its 2024 financial guidance of achieving a return on equity (ROE) of 10% or greater [5][18] - Strategic initiatives are on track to be completed on time, with expected financial and operational benefits, including the Bermuda project which is anticipated to provide $250 million in life dividends to the parent in the fourth quarter [8][9][80] Management's Comments on Operating Environment and Future Outlook - Management described the current environment as the most dynamic and volatile in the personal auto insurance industry, with expectations that this will persist for at least another year or two [5][18] - The company remains optimistic about future prospects, with confidence in achieving target profitability in 2024 [18][81] Other Important Information - The company is in the process of winding down its preferred P&C business, which is expected to release approximately $175 million of capital by the end of 2024 [80] - The reciprocal exchange has received necessary approvals and began writing business during the quarter, with plans to reinsure select new business from Kemper legal entities [78][80] Q&A Session Summary Question: Decline in policy count in specialty book - Management indicated that the decline is largely driven by a reduction in new business policies, while retention rates remain stable or slightly improved [20][21] Question: Concerns about parent company liquidity - Management acknowledged a decrease in parent company liquidity from $1.3 billion to $821 million, but expects to bolster liquidity by at least $250 million in the fourth quarter from Bermuda Optimization [31][33] Question: Adverse reserve development in personal auto business - Management expressed confidence in current reserves, noting that adverse development was primarily related to claims from the second half of 2022 and that they are closely monitoring trends [35][44] Question: Impact of capital situation on reciprocal - Management clarified that reinsuring business into the reciprocal would provide capital relief for the parent company, allowing for flexibility in capital management [47][52] Question: Target profitability and ROE expectations - Management reiterated the target of achieving a 10% ROE in 2024, emphasizing that combined ratios are expected to improve as new business is selectively written [54][70]

Catastrophe Aggregate Program: Non-GAAP Financial Measures Earnings Call Presentation – 3Q 2023 The Company believes that Adjusted Consolidated Net Operating Loss provides investors with a valuable measure of its ongoing performance because it reveals underlying operational performance trends that otherwise might be less apparent if the items were not excluded. Income (Loss) from Change in Fair Value of Equity and Convertible Securities, Net Realized Investment (Losses) Gains and Impairment (Losses) Gains r ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________________________________________________ FORM 10-Q ______________________________________________________ ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended 9/30/2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition Period from to Commission file number 001-18298 ____________________________ ...

Financial Data and Key Metrics Changes - The company reported a net loss of $1.52 per diluted share and an adjusted consolidated net operating loss of $0.26 for the quarter, which included a $46 million goodwill impairment charge related to the Preferred P&C segment [24][25][26] - The underlying combined ratio for the Specialty Auto business improved to 102%, slightly below the guidance range of 103% to 107% [29] - The company reiterated its guidance, expecting to achieve an underwriting profit in the second half of 2023 and a return on equity (ROE) equal to or greater than 10% in 2024 [28][16] Business Line Data and Key Metrics Changes - The Specialty P&C segment experienced a six-point sequential improvement in profitability, driven by earned rate and non-rate actions exceeding loss trends [17] - The commercial vehicle business reported an underlying combined ratio of 93.9%, with expectations for strong underwriting profits in the second half of 2023 [44] - The Preferred P&C segment showed sequential improvement in underlying combined ratios despite higher catastrophe losses of $21 million [48] Market Data and Key Metrics Changes - Catastrophe losses for the quarter were elevated, amounting to $39 million, attributed to a very active catastrophe quarter for the industry [25][36] - The company received approval for approximately 30 points of rate increase for its Specialty P&C private passenger auto book in California, effective August 4 [18][53] Company Strategy and Development Direction - The company is focused on strategic initiatives announced in November 2022, which are on track to produce or exceed their financial and operational targets [20] - The decision to exit the Preferred P&C segment is aimed at enhancing return on capital and supporting profitable growth in core businesses [20][21] - The Bermuda optimization initiative is expected to unlock at least $200 million in life dividends to the parent company by year-end [38] Management's Comments on Operating Environment and Future Outlook - The management highlighted the current operating environment as the most disruptive in personal lines, with changes in consumer behavior affecting traditional predictive models [9][11] - The company anticipates that the hard market conditions will persist for at least the next couple of years, necessitating continued investment in business intelligence and predictive analytics [13][15] - Management expressed confidence in returning to underwriting profitability despite the challenging environment, emphasizing a focus on achieving target returns [16][52] Other Important Information - The company achieved approximately $117 million in run rate savings from cost reduction initiatives, representing about 80% of the intended savings goal by 2025 [32] - The company plans to redeploy over $300 million in capital to core segments following the wind down of the Preferred P&C business [39] Q&A Session Summary Question: Impact of non-rate actions on underlying business - Management indicated that non-rate actions, such as slowing down new business, provide immediate benefits to calendar year losses, with a focus on underwriting profitability [60][62] Question: Capital behind the Life operation - Management clarified that there is capital in the Bermuda entity, and while there won't be a meaningful change in overall capital levels, reserves will be reset to reflect true mortality trends [70][73] Question: Consumer response to rate increases - Management noted that retention rates are at or above historical levels, driven by a lack of supply in the market, despite rising rates [79][81] Question: Adverse reserve development trends - Management expressed confidence in their loss picks and indicated that the unusual pattern changes observed in the past are now incorporated into current estimates [96][99] Question: Guidance and ROE targets - Management confirmed that guidance does not include the redeployment of capital from the Preferred business, which will be a positive tailwind in the long term [107]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________________________________________________ FORM 10-Q ______________________________________________________ ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended 6/30/2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition Period from to Commission file number 001-18298 ____________________________ ...

Kemper Corporation (NYSE:KMPR) Q1 2023 Earnings Conference Call May 8, 2023 5:00 PM ET Company Participants Karen Guerra - Vice President, Investor Relations Joe Lacher - President and Chief Executive Officer and Chairman Jim McKinney - Executive Vice President and Chief Financial Officer Matt Hunton - Executive Vice President and President, Kemper Auto Duane Sanders - Executive Vice President and President, P&C John Boschelli - Executive Vice President and Chief Investment Officer Conference Call Participa ...

May 8, 2023 Cautionary Statements Regarding Forward-Looking Information Non-GAAP Financial Measures 2 Life insurance for low/modestincome customers Have Limited or Unfocused Competition Distribution First Quarter Preliminary Matters Kemper assumes no obligation to publicly correct or update any forward-looking statements as a result of events or developments subsequent to the date of this presentation. 2 Delivering appropriate and affordable insurance and financial solutions Specialty auto insurancefor unde ...