Unum Group
Statistical Supplement Fourth Quarter 2025
TABLE OF CONTENTS
(in millions of dollars, except share data and where noted)
Interim Results are Unaudited

|  | Page |
| Financial Highlights | 1 |
| Capital Metrics | 2 |
| Ratings | 3 |
| Consolidated Statements of Income | 4 |
| Sales Data by Segment | 5 |
| Consolidated Balance Sheets | 6 |
| Financial Results by Segment | 7 |
| Quarterly Historical Financial Results by Segment | 8 |
| Financial Results and Selected Statistics by Segment |  |
| Unum US | 9 |
| Unum International | 10 |
| Colonial Life | 11 |
| Closed Block | 12 |
| Corporate | 13 |
| Investments | 14 |
| Appendix to Statistical Supplement | 15 |
| See "Appendix to Statistical Supplement" on page 15 for a summary of significant items and page 15.2 for a reconciliation of our non-GAAP financial measures. |
| N.M. = not a meaningful percentage |  |

Unum Group Financial Highlights

| Three Months Ended |  | Year Ended
| 12/31/2025 |  | 12/31/2024 |  | 12/31/2025 |  | 12/31/2024 |  | 12/31/2023
Consolidated U.S. GAAP Results¹ |  |  |  |  |  |  |  |  |
Premium Income | $ | 2,692.1 |  |  | $ | 2,631.1 |  |  | $ | 10,831.0 |  |  | $ | 10,497.4 |  |  | $ | 10,046.0 |
Adjusted Operating Revenue | $ | 3,249.8 |  |  | $ | 3,246.7 |  |  | $ | 13,173.1 |  |  | $ | 12,921.9 |  |  | $ | 12,421.9 |
Net Investment Loss | (10.1) |  |  | (10.1) |  |  | (106.6) |  |  | (34.6) |  |  | (36.0) |
Amortization of the Deferred Gain on Reinsurance | 4.4 |  |  | — |  |  | 9.0 |  |  | — |  |  | — |
Total Revenue | $ | 3,244.1 |  |  | $ | 3,236.6 |  |  | $ | 13,075.5 |  |  | $ | 12,887.3 |  |  | $ | 12,385.9 |
Net Income | $ | 174.1 |  |  | $ | 348.7 |  |  | $ | 738.5 |  |  | $ | 1,779.1 |  |  | $ | 1,283.8 |
Net Income Per Common Share: |  |  |  |  |  |  |  |  |
Basic | $ | 1.04 |  |  | $ | 1.93 |  |  | $ | 4.28 |  |  | $ | 9.49 |  |  | $ | 6.53 |
Assuming Dilution | $ | 1.04 |  |  | $ | 1.92 |  |  | $ | 4.27 |  |  | $ | 9.46 |  |  | $ | 6.50 |
Assets |  |  |  |  | $ | 63,519.4 |  |  | $ | 61,959.3 |  |  | $ | 63,255.2 |
Liabilities |  |  |  |  | $ | 52,400.3 |  |  | $ | 50,998.2 |  |  | $ | 53,603.8 |
Stockholders' Equity |  |  |  |  | $ | 11,119.1 |  |  | $ | 10,961.1 |  |  | $ | 9,651.4 |
Adjusted Stockholders' Equity |  |  |  |  | $ | 12,471.1 |  |  | $ | 12,801.6 |  |  | $ | 12,292.6 |
Adjusted Operating Return on Equity |  |  |  |  |  |  |  |  |
Unum US | 21.1 | % |  | 23.0 | % |  | 22.6 | % |  | 25.2 | % |  | 23.1 | %
Unum International | 12.3 | % |  | 14.6 | % |  | 14.8 | % |  | 15.6 | % |  | 16.5 | %
Colonial Life | 17.5 | % |  | 20.2 | % |  | 18.2 | % |  | 19.7 | % |  | 18.1 | %
Core Operating Segments | 19.1 | % |  | 21.4 | % |  | 20.5 | % |  | 22.7 | % |  | 21.2 | %
Consolidated | 10.3 | % |  | 11.4 | % |  | 11.1 | % |  | 12.7 | % |  | 12.7 | %

Traditional U.S. Life Insurance Companies' Statutory Results 2 |  |  |  |  |  |  |  |  |
Net Gain from Operations, After Tax | $ | 215.9 |  |  | $ | 304.8 |  |  | $ | 652.5 |  |  | $ | 1,337.0 |  |  | $ | 1,351.5 |
Net Realized Capital Loss, After Tax | (2.0) |  |  | (13.7) |  |  | (18.5) |  |  | (14.6) |  |  | (21.6) |
Net Income | $ | 213.9 |  |  | $ | 291.1 |  |  | $ | 634.0 |  |  | $ | 1,322.4 |  |  | $ | 1,329.9 |
Capital and Surplus |  |  |  |  | $ | 3,770.6 |  |  | $ | 3,909.7 |  |  | $ | 3,751.3 |
Weighted Average Risk-based Capital Ratio |  |  |  |  | ~ 440% |  | ~ 430% |  | ~ 415%
1 Generally Accepted Accounting Principles
2 Our traditional U.S. life insurance companies are Provident Life and Accident Insurance Company, Unum Life Insurance Company of America, First Unum Life Insurance Company, Colonial Life & Accident Insurance Company, The Paul Revere Life Insurance Company, Unum Insurance Company, Provident Life and Casualty Insurance Company, and Starmount Life Insurance Company.

1

Unum Group Capital Metrics

| 12/31/2025 |  | 12/31/2024 |  | 12/31/2023
| (in millions) |  | per share |  | (in millions) |  | per share |  | (in millions) |  | per share
Total Stockholders' Equity (Book Value) | $ | 11,119.1 |  |  | $ | 67.11 |  |  | $ | 10,961.1 |  |  | $ | 61.38 |  |  | $ | 9,651.4 |  |  | $ | 49.91 |
Excluding: |  |  |  |  |  |  |  |  |  |  |
Net Unrealized Loss on Securities | (2,003.1) |  |  | (12.09) |  |  | (2,755.2) |  |  | (15.43) |  |  | (1,919.1) |  |  | (9.92) |
Effect of Change in Discount Rate Assumptions on the Liability for Future Policy Benefits | 929.9 |  |  | 5.61 |  |  | 1,185.4 |  |  | 6.64 |  |  | (648.4) |  |  | (3.35) |
Net Loss on Derivatives | (278.8) |  |  | (1.68) |  |  | (270.7) |  |  | (1.51) |  |  | (73.7) |  |  | (0.39) |
Subtotal | 12,471.1 |  |  | 75.27 |  |  | 12,801.6 |  |  | 71.68 |  |  | 12,292.6 |  |  | 63.57 |
Excluding: |  |  |  |  |  |  |  |  |  |  |
Foreign Currency Translation Adjustment | (245.6) |  |  | (1.48) |  |  | (343.0) |  |  | (1.93) |  |  | (321.1) |  |  | (1.66) |
Subtotal | 12,716.7 |  |  | 76.75 |  |  | 13,144.6 |  |  | 73.61 |  |  | 12,613.7 |  |  | 65.23 |
Excluding: |  |  |  |  |  |  |  |  |  |  |
Unrecognized Pension and Postretirement Benefit Costs | (210.9) |  |  | (1.27) |  |  | (340.2) |  |  | (1.90) |  |  | (345.7) |  |  | (1.79) |
Total Stockholders' Equity, Excluding Accumulated Other Comprehensive Loss | $ | 12,927.6 |  |  | $ | 78.02 |  |  | $ | 13,484.8 |  |  | $ | 75.51 |  |  | $ | 12,959.4 |  |  | $ | 67.02 |
Dividends Paid | $ | 307.2 |  |  | $ | 1.76 |  |  | $ | 296.6 |  |  | $ | 1.57 |  |  | $ | 277.1 |  |  | $ | 1.39 |

| Three Months Ended |  | Year Ended
| 12/31/2025 |  | 12/31/2024 |  | 12/31/2025 |  | 12/31/2024 |  | 12/31/2023
Shares Repurchased (millions)1 | 3.3 |  |  | 6.0 |  |  | 13.6 |  |  | 15.7 |  |  | 5.7 |
Cost of Shares Repurchased (millions)2 | $ | 252.5 |  |  | $ | 474.5 |  |  | $ | 1,011.7 |  |  | $ | 979.3 |  |  | $ | 252.0 |
Price (UNM closing price on last trading day of period) |  |  |  |  | $ | 77.50 |  |  | $ | 73.03 |  |  | $ | 45.22 |
Leverage Ratio |  |  |  |  | 23.6 | % |  | 22.9 | % |  | 22.1 | %
Holding Company Liquidity (millions) |  |  |  |  | $ | 2,344 |  |  | $ | 1,987 |  |  | $ | 1,650 |
1 For the year ended December 31, 2025, includes 0.7 million shares related to the settlement of the November 2024 accelerated share repurchase agreement (ASR) which occurred in February 2025.
2 Includes commissions of $0.1 million for the three months ended December 31, 2025, a de minimis amount for the three months ended December 31, 2024, $1.9 million for the year ended December 31, 2025, a de minimis amount for the year ended December 31, 2024, and $0.1 million for the year ended December 31, 2023. There was excise tax of $2.4 million and $9.8 million for the three months and year ended December 31, 2025, respectively, $3.5 million, and $8.3 million for the three months and year ended December 31, 2024, respectively, and $1.9 million for the year ended December 31, 2023. Also included for the year ended December 31, 2024 is $80.3 million related to shares which settled in February 2025 in connection with the November 2024 ASR agreement.

2

Unum Group Ratings

| AM Best |  | Fitch |  | Moody's |  | S&P
Outlook | Stable |  | Stable |  | Stable |  | Stable
Senior Unsecured Debt Ratings | bbb+ |  | BBB |  | Baa2 |  | BBB
Financial Strength Ratings |  |  |  |  |  |  |
Provident Life and Accident Insurance Company | A |  | A |  | A2 |  | A
Unum Life Insurance Company of America | A |  | A |  | A2 |  | A
First Unum Life Insurance Company | A |  | A |  | A2 |  | A
Colonial Life & Accident Insurance Company | A |  | A |  | A2 |  | A
The Paul Revere Life Insurance Company | A |  | A |  | A2 |  | A
Unum Insurance Company | A |  | A |  | A2 |  | NR
Provident Life and Casualty Insurance Company | A |  | A |  | NR |  | NR
Starmount Life Insurance Company | A |  | NR |  | NR |  | NR
Unum Limited | NR |  | NR |  | NR |  | A-
NR = not rated |  |  |  |  |  |  |

3

Unum Group Consolidated Statements of Income

| Three Months Ended |  | Year Ended
| 12/31/2025 |  | 12/31/2024 |  | 12/31/2025 |  | 12/31/2024 |  | 12/31/2023
Revenue |  |  |  |  |  |  |  |  |
Premium Income | $ | 2,692.1 |  |  | $ | 2,631.1 |  |  | $ | 10,831.0 |  |  | $ | 10,497.4 |  |  | $ | 10,046.0 |
Net Investment Income | 482.0 |  |  | 543.6 |  |  | 2,032.7 |  |  | 2,130.0 |  |  | 2,096.7 |
Net Investment Loss | (10.1) |  |  | (10.1) |  |  | (106.6) |  |  | (34.6) |  |  | (36.0) |
Other Income | 80.1 |  |  | 72.0 |  |  | 318.4 |  |  | 294.5 |  |  | 279.2 |
Total Revenue | 3,244.1 |  |  | 3,236.6 |  |  | 13,075.5 |  |  | 12,887.3 |  |  | 12,385.9 |
Benefits and Expenses |  |  |  |  |  |  |  |  |
Policy Benefits Including Remeasurement Loss or Gain | 1,892.9 |  |  | 1,861.2 |  |  | 8,065.3 |  |  | 6,917.9 |  |  | 7,257.1 |
Commissions | 333.4 |  |  | 310.8 |  |  | 1,355.3 |  |  | 1,258.6 |  |  | 1,170.1 |
Interest and Debt Expense | 52.6 |  |  | 52.5 |  |  | 208.8 |  |  | 201.1 |  |  | 194.8 |
Deferral of Acquisition Costs | (176.1) |  |  | (156.2) |  |  | (697.1) |  |  | (651.5) |  |  | (632.2) |
Amortization of Deferred Acquisition Costs | 137.2 |  |  | 133.1 |  |  | 527.1 |  |  | 521.0 |  |  | 481.4 |
Other Expenses | 785.7 |  |  | 589.7 |  |  | 2,682.6 |  |  | 2,388.9 |  |  | 2,274.6 |
Total Benefits and Expenses | 3,025.7 |  |  | 2,791.1 |  |  | 12,142.0 |  |  | 10,636.0 |  |  | 10,745.8 |
Income Before Income Tax | 218.4 |  |  | 445.5 |  |  | 933.5 |  |  | 2,251.3 |  |  | 1,640.1 |
Income Tax Expense | 44.3 |  |  | 96.8 |  |  | 195.0 |  |  | 472.2 |  |  | 356.3 |
Net Income | $ | 174.1 |  |  | $ | 348.7 |  |  | $ | 738.5 |  |  | $ | 1,779.1 |  |  | $ | 1,283.8 |
Weighted Average Shares Outstanding |  |  |  |  |  |  |  |  |
Basic | 167.7 |  |  | 181.0 |  |  | 172.5 |  |  | 187.5 |  |  | 196.7 |
Assuming Dilution | 168.0 |  |  | 181.6 |  |  | 172.9 |  |  | 188.1 |  |  | 197.6 |
Actual Number of Shares Outstanding |  |  |  |  | 165.7 |  |  | 178.6 |  |  | 193.4 |

4

Unum Group Sales Data for Unum US Segment

| Three Months Ended |  | Year Ended
| 12/31/2025 |  | 12/31/2024 |  | % Change |  | 12/31/2025 |  | 12/31/2024 |  | 12/31/2023
Sales by Product |  |  |  |  |  |  |  |  |  |  |
Group Disability and Group Life and AD&D |  |  |  |  |  |  |  |  |  |  |
Group Long-term Disability | $ | 127.2 |  |  | $ | 154.5 |  |  | (17.7) | % |  | $ | 243.8 |  |  | $ | 298.3 |  |  | $ | 292.7 |
Group Short-term Disability | 177.9 |  |  | 122.4 |  |  | 45.3 |  |  | 274.0 |  |  | 216.5 |  |  | 229.5 |
Group Life and AD&D | 206.8 |  |  | 210.3 |  |  | (1.7) |  |  | 361.5 |  |  | 361.5 |  |  | 305.4 |
Subtotal | 511.9 |  |  | 487.2 |  |  | 5.1 |  |  | 879.3 |  |  | 876.3 |  |  | 827.6 |
Supplemental and Voluntary |  |  |  |  |  |  |  |  |  |  |
Voluntary Benefits | 57.9 |  |  | 60.7 |  |  | (4.6) |  |  | 289.6 |  |  | 293.7 |  |  | 263.2 |
Individual Disability | 24.2 |  |  | 25.6 |  |  | (5.5) |  |  | 105.6 |  |  | 101.7 |  |  | 108.9 |
Dental and Vision | 45.9 |  |  | 51.9 |  |  | (11.6) |  |  | 84.4 |  |  | 95.3 |  |  | 84.1 |
Subtotal | 128.0 |  |  | 138.2 |  |  | (7.4) |  |  | 479.6 |  |  | 490.7 |  |  | 456.2 |
Total Sales | $ | 639.9 |  |  | $ | 625.4 |  |  | 2.3 |  |  | $ | 1,358.9 |  |  | $ | 1,367.0 |  |  | $ | 1,283.8 |
Sales by Market Sector |  |  |  |  |  |  |  |  |  |  |
Group Disability and Group Life and AD&D |  |  |  |  |  |  |  |  |  |  |
Core Market (< 2,000 employees) | $ | 309.4 |  |  | $ | 265.5 |  |  | 16.5 | % |  | $ | 527.8 |  |  | $ | 512.6 |  |  | $ | 521.3 |
Large Case Market | 202.5 |  |  | 221.7 |  |  | (8.7) |  |  | 351.5 |  |  | 363.7 |  |  | 306.3 |
Subtotal | 511.9 |  |  | 487.2 |  |  | 5.1 |  |  | 879.3 |  |  | 876.3 |  |  | 827.6 |
Supplemental and Voluntary | 128.0 |  |  | 138.2 |  |  | (7.4) |  |  | 479.6 |  |  | 490.7 |  |  | 456.2 |
Total Sales | $ | 639.9 |  |  | $ | 625.4 |  |  | 2.3 |  |  | $ | 1,358.9 |  |  | $ | 1,367.0 |  |  | $ | 1,283.8 |

5

Unum Group Sales Data for Unum International Segment

| Three Months Ended |  | Year Ended
(in millions of dollars) | 12/31/2025 |  | 12/31/2024 |  | % Change |  | 12/31/2025 |  | 12/31/2024 |  | 12/31/2023
Sales by Product |  |  |  |  |  |  |  |  |  |  |
Unum UK |  |  |  |  |  |  |  |  |  |  |
Group Long-term Disability | $ | 8.3 |  |  | $ | 7.0 |  |  | 18.6 | % |  | $ | 48.6 |  |  | $ | 47.3 |  |  | $ | 48.3 |
Group Life | 17.7 |  |  | 15.2 |  |  | 16.4 |  |  | 69.6 |  |  | 68.3 |  |  | 61.4 |
Supplemental | 7.8 |  |  | 4.8 |  |  | 62.5 |  |  | 32.8 |  |  | 34.9 |  |  | 28.0 |
Unum Poland | 11.8 |  |  | 11.8 |  |  | — |  |  | 46.2 |  |  | 36.4 |  |  | 33.2 |
Total Sales | $ | 45.6 |  |  | $ | 38.8 |  |  | 17.5 |  |  | $ | 197.2 |  |  | $ | 186.9 |  |  | $ | 170.9 |
Sales by Market Sector |  |  |  |  |  |  |  |  |  |  |
Unum UK |  |  |  |  |  |  |  |  |  |  |
Group Long-term Disability and Group Life |  |  |  |  |  |  |  |  |  |  |
Core Market (< 500 employees) | $ | 12.5 |  |  | $ | 11.1 |  |  | 12.6 | % |  | $ | 48.2 |  |  | $ | 41.8 |  |  | $ | 51.2 |
Large Case Market | 13.5 |  |  | 11.1 |  |  | 21.6 |  |  | 70.0 |  |  | 73.8 |  |  | 58.5 |
Subtotal | 26.0 |  |  | 22.2 |  |  | 17.1 |  |  | 118.2 |  |  | 115.6 |  |  | 109.7 |
Supplemental | 7.8 |  |  | 4.8 |  |  | 62.5 |  |  | 32.8 |  |  | 34.9 |  |  | 28.0 |
Unum Poland | 11.8 |  |  | 11.8 |  |  | — |  |  | 46.2 |  |  | 36.4 |  |  | 33.2 |
Total Sales | $ | 45.6 |  |  | $ | 38.8 |  |  | 17.5 |  |  | $ | 197.2 |  |  | $ | 186.9 |  |  | $ | 170.9 |
(in millions of pounds) |  |  |  |  |  |  |  |  |  |  |
Unum UK Sales by Product |  |  |  |  |  |  |  |  |  |  |
Group Long-term Disability | £ | 6.3 |  |  | £ | 5.5 |  |  | 14.5 | % |  | £ | 36.7 |  |  | £ | 37.2 |  |  | £ | 38.8 |
Group Life | 13.2 |  |  | 11.9 |  |  | 10.9 |  |  | 52.7 |  |  | 53.4 |  |  | 49.4 |
Supplemental | 5.9 |  |  | 3.7 |  |  | 59.5 |  |  | 25.0 |  |  | 27.5 |  |  | 22.6 |
Total Sales | £ | 25.4 |  |  | £ | 21.1 |  |  | 20.4 |  |  | £ | 114.4 |  |  | £ | 118.1 |  |  | £ | 110.8 |
Unum UK Sales by Market Sector |  |  |  |  |  |  |  |  |  |  |
Group Long-term Disability and Group Life |  |  |  |  |  |  |  |  |  |  |
Core Market (< 500 employees) | £ | 9.4 |  |  | £ | 8.7 |  |  | 8.0 | % |  | £ | 36.6 |  |  | £ | 32.8 |  |  | £ | 41.2 |
Large Case Market | 10.1 |  |  | 8.7 |  |  | 16.1 |  |  | 52.8 |  |  | 57.8 |  |  | 47.0 |
Subtotal | 19.5 |  |  | 17.4 |  |  | 12.1 |  |  | 89.4 |  |  | 90.6 |  |  | 88.2 |
Supplemental | 5.9 |  |  | 3.7 |  |  | 59.5 |  |  | 25.0 |  |  | 27.5 |  |  | 22.6 |
Total Sales | £ | 25.4 |  |  | £ | 21.1 |  |  | 20.4 |  |  | £ | 114.4 |  |  | £ | 118.1 |  |  | £ | 110.8 |

5. 1

Unum Group Sales Data for Colonial Life Segment

| Three Months Ended |  | Year Ended
| 12/31/2025 |  | 12/31/2024 |  | % Change |  | 12/31/2025 |  | 12/31/2024 |  | 12/31/2023
Sales by Product |  |  |  |  |  |  |  |  |  |  |
Accident, Sickness, and Disability | $ | 117.2 |  |  | $ | 111.2 |  |  | 5.4 | % |  | $ | 336.7 |  |  | $ | 326.3 |  |  | $ | 329.5 |
Life | 54.7 |  |  | 44.8 |  |  | 22.1 |  |  | 142.0 |  |  | 127.9 |  |  | 132.1 |
Cancer and Critical Illness | 32.0 |  |  | 29.4 |  |  | 8.8 |  |  | 81.6 |  |  | 78.0 |  |  | 78.0 |
Total Sales | $ | 203.9 |  |  | $ | 185.4 |  |  | 10.0 |  |  | $ | 560.3 |  |  | $ | 532.2 |  |  | $ | 539.6 |
Sales by Market Sector |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |
Core Market (< 1,000 employees) | $ | 118.0 |  |  | $ | 111.5 |  |  | 5.8 | % |  | $ | 343.5 |  |  | $ | 331.9 |  |  | $ | 347.4 |
Large Case Market | 33.6 |  |  | 27.8 |  |  | 20.9 |  |  | 71.8 |  |  | 65.1 |  |  | 62.3 |
Subtotal | 151.6 |  |  | 139.3 |  |  | 8.8 |  |  | 415.3 |  |  | 397.0 |  |  | 409.7 |
Public Sector | 52.3 |  |  | 46.1 |  |  | 13.4 |  |  | 145.0 |  |  | 135.2 |  |  | 129.9 |
Total Sales | $ | 203.9 |  |  | $ | 185.4 |  |  | 10.0 |  |  | $ | 560.3 |  |  | $ | 532.2 |  |  | $ | 539.6 |

5. 2

Unum Group Consolidated Balance Sheets

| December 31
| 2025 |  | 2024
Assets |  |  |
Investments |  |  |
Fixed Maturity Securities - at fair value | $ | 33,056.6 |  |  | $ | 35,629.9 |
Mortgage Loans | 2,109.5 |  |  | 2,224.5 |
Policy Loans | 3,668.1 |  |  | 3,617.2 |
Other Long-term Investments | 1,670.4 |  |  | 1,694.4 |
Short-term Investments | 3,016.2 |  |  | 2,540.3 |
Total Investments | 43,520.8 |  |  | 45,706.3 |
Other Assets |  |  |
Cash and Bank Deposits | 158.2 |  |  | 162.8 |
Accounts and Premiums Receivable | 1,429.8 |  |  | 1,459.0 |
Reinsurance Recoverable | 11,574.6 |  |  | 8,296.4 |
Accrued Investment Income | 596.0 |  |  | 649.8 |
Deferred Acquisition Costs | 2,920.3 |  |  | 2,842.8 |
Goodwill | 353.9 |  |  | 349.1 |
Property and Equipment | 503.7 |  |  | 487.6 |
Deferred Income Tax | 79.5 |  |  | 369.7 |
Other Assets | 2,382.6 |  |  | 1,635.8 |
Total Assets | $ | 63,519.4 |  |  | $ | 61,959.3 |

6

Unum Group Consolidated Balance Sheets - Continued

| December 31
| 2025 |  | 2024
Liabilities and Stockholders' Equity |  |  |
Liabilities |  |  |
Future Policy Benefits | $ | 38,017.0 |  |  | $ | 36,806.4 |
Policyholders' Account Balances | 5,636.4 |  |  | 5,633.7 |
Unearned Premiums | 412.8 |  |  | 384.0 |
Other Policyholders’ Funds | 1,479.7 |  |  | 1,526.7 |
Income Tax Payable | 52.2 |  |  | 226.5 |
Deferred Income Tax | 38.8 |  |  | 31.0 |
Short-term Debt | — |  |  | 274.6 |
Long-term Debt | 3,767.6 |  |  | 3,465.2 |
Other Liabilities | 2,995.8 |  |  | 2,650.1 |
Total Liabilities | 52,400.3 |  |  | 50,998.2 |
Stockholders’ Equity |  |  |
Common Stock | 19.6 |  |  | 19.5 |
Additional Paid-in Capital | 1,593.0 |  |  | 1,489.6 |
Accumulated Other Comprehensive Loss | (1,808.5) |  |  | (2,523.7) |
Retained Earnings | 13,345.3 |  |  | 12,914.0 |
Treasury Stock - at cost | (2,030.3) |  |  | (938.3) |
Total Stockholders’ Equity | 11,119.1 |  |  | 10,961.1 |
Total Liabilities and Stockholders’ Equity | $ | 63,519.4 |  |  | $ | 61,959.3 |

6. 1

Unum Group Balance Sheets by Segment - December 31, 2025

| Unum US |  |  |  |  |  |  |  |  |  |
| Group Disability |  | Group Life and Accidental Death & Dismemberment |  | Supplemental and Voluntary |  | Total Unum US |  | Unum International |  | Colonial Life |  | Closed Block |  | Corporate |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments | $ | 5,685.7 |  |  | $ | 1,827.5 |  |  | $ | 4,314.6 |  |  | $ | 11,827.8 |  |  | $ | 3,183.2 |  |  | $ | 3,420.8 |  |  | $ | 21,459.4 |  |  | $ | 3,629.6 |  |  | $ | 43,520.8 |
Deferred Acquisition Costs | 63.6 |  |  | 57.6 |  |  | 1,087.5 |  |  | 1,208.7 |  |  | 72.1 |  |  | 1,639.5 |  |  | — |  |  | — |  |  | 2,920.3 |
Goodwill | 10.1 |  |  | — |  |  | 271.1 |  |  | 281.2 |  |  | 45.0 |  |  | 27.7 |  |  | — |  |  | — |  |  | 353.9 |
Reinsurance Recoverable | 26.2 |  |  | 7.6 |  |  | 410.1 |  |  | 443.9 |  |  | 93.3 |  |  | 4.6 |  |  | 11,032.8 |  |  | — |  |  | 11,574.6 |
All Other | 386.5 |  |  | 326.9 |  |  | 160.3 |  |  | 873.7 |  |  | 254.4 |  |  | 197.3 |  |  | 1,395.6 |  |  | 2,428.8 |  |  | 5,149.8 |
Total Assets | $ | 6,172.1 |  |  | $ | 2,219.6 |  |  | $ | 6,243.6 |  |  | $ | 14,635.3 |  |  | $ | 3,648.0 |  |  | $ | 5,289.9 |  |  | $ | 33,887.8 |  |  | $ | 6,058.4 |  |  | $ | 63,519.4 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Future Policy Benefits | $ | 4,591.6 |  |  | $ | 802.4 |  |  | $ | 3,099.4 |  |  | $ | 8,493.4 |  |  | $ | 2,404.3 |  |  | $ | 2,032.0 |  |  | $ | 25,087.3 |  |  | $ | — |  |  | $ | 38,017.0 |
Policyholders' Account Balances | — |  |  | — |  |  | 665.7 |  |  | 665.7 |  |  | — |  |  | 858.9 |  |  | 4,111.8 |  |  | — |  |  | 5,636.4 |
Unearned Premiums | 1.3 |  |  | 5.7 |  |  | 41.7 |  |  | 48.7 |  |  | 201.5 |  |  | 46.9 |  |  | 115.7 |  |  | — |  |  | 412.8 |
Other Policyholders' Funds | 26.1 |  |  | 769.6 |  |  | 33.0 |  |  | 828.7 |  |  | 78.3 |  |  | 8.8 |  |  | 563.9 |  |  | — |  |  | 1,479.7 |
Debt | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,767.6 |  |  | 3,767.6 |
All Other | 36.3 |  |  | 27.2 |  |  | 209.2 |  |  | 272.7 |  |  | 125.6 |  |  | 71.1 |  |  | 594.4 |  |  | 2,023.0 |  |  | 3,086.8 |
Total Liabilities | 4,655.3 |  |  | 1,604.9 |  |  | 4,049.0 |  |  | 10,309.2 |  |  | 2,809.7 |  |  | 3,017.7 |  |  | 30,473.1 |  |  | 5,790.6 |  |  | 52,400.3 |
Allocated Stockholders' Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Allocated Stockholders' Equity | 1,473.7 |  |  | 666.6 |  |  | 2,165.0 |  |  | 4,305.3 |  |  | 822.4 |  |  | 2,083.1 |  |  | 4,495.2 |  |  | 765.1 |  |  | 12,471.1 |
Net Unrealized Loss on Securities and Net Loss on Derivatives | (106.3) |  |  | (67.0) |  |  | (141.6) |  |  | (314.9) |  |  | (115.0) |  |  | (72.1) |  |  | (1,282.6) |  |  | (497.3) |  |  | (2,281.9) |
Effect of Change in Discount Rate Assumptions on the Liability for Future Policy Benefits | 149.4 |  |  | 15.1 |  |  | 171.2 |  |  | 335.7 |  |  | 130.9 |  |  | 261.2 |  |  | 202.1 |  |  | — |  |  | 929.9 |
Total Allocated Stockholders' Equity | 1,516.8 |  |  | 614.7 |  |  | 2,194.6 |  |  | 4,326.1 |  |  | 838.3 |  |  | 2,272.2 |  |  | 3,414.7 |  |  | 267.8 |  |  | 11,119.1 |
Total Liabilities and Allocated Stockholders' Equity | $ | 6,172.1 |  |  | $ | 2,219.6 |  |  | $ | 6,243.6 |  |  | $ | 14,635.3 |  |  | $ | 3,648.0 |  |  | $ | 5,289.9 |  |  | $ | 33,887.8 |  |  | $ | 6,058.4 |  |  | $ | 63,519.4 |

Allocated stockholders' equity is determined on the basis of an internal allocation formula that reflects the volume and risk components of the business and aligns with our target capital levels for regulatory and rating agency purposes. We modify this formula periodically to recognize changes in the views of capital requirements.
6. 2

Unum Group Balance Sheets by Segment - December 31, 2024

| Unum US |  |  |  |  |  |  |  |  |  |
| Group Disability |  | Group Life and Accidental Death & Dismemberment |  | Supplemental and Voluntary |  | Total Unum US |  | Unum International |  | Colonial Life |  | Closed Block |  | Corporate |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments | $ | 6,016.7 |  |  | $ | 1,924.5 |  |  | $ | 4,557.3 |  |  | $ | 12,498.5 |  |  | $ | 2,968.7 |  |  | $ | 3,249.7 |  |  | $ | 23,862.5 |  |  | $ | 3,126.9 |  |  | $ | 45,706.3 |
Deferred Acquisition Costs | 61.1 |  |  | 51.1 |  |  | 1,148.4 |  |  | 1,260.6 |  |  | 53.0 |  |  | 1,529.2 |  |  | — |  |  | — |  |  | 2,842.8 |
Goodwill | 8.9 |  |  | — |  |  | 271.1 |  |  | 280.0 |  |  | 41.4 |  |  | 27.7 |  |  | — |  |  | — |  |  | 349.1 |
Reinsurance Recoverable | 31.7 |  |  | 5.7 |  |  | 166.4 |  |  | 203.8 |  |  | 99.0 |  |  | 4.3 |  |  | 7,989.3 |  |  | — |  |  | 8,296.4 |
All Other | 351.2 |  |  | 202.4 |  |  | 185.1 |  |  | 738.7 |  |  | 129.2 |  |  | 153.3 |  |  | 1,524.2 |  |  | 2,219.3 |  |  | 4,764.7 |
Total Assets | $ | 6,469.6 |  |  | $ | 2,183.7 |  |  | $ | 6,328.3 |  |  | $ | 14,981.6 |  |  | $ | 3,291.3 |  |  | $ | 4,964.2 |  |  | $ | 33,376.0 |  |  | $ | 5,346.2 |  |  | $ | 61,959.3 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Future Policy Benefits | $ | 4,773.9 |  |  | $ | 836.0 |  |  | $ | 3,059.8 |  |  | $ | 8,669.7 |  |  | $ | 2,163.0 |  |  | $ | 1,904.2 |  |  | $ | 24,069.5 |  |  | $ | — |  |  | $ | 36,806.4 |
Policyholders' Account Balances | — |  |  | — |  |  | 675.7 |  |  | 675.7 |  |  | — |  |  | 862.5 |  |  | 4,095.5 |  |  | — |  |  | 5,633.7 |
Unearned Premiums | 1.6 |  |  | 6.1 |  |  | 44.0 |  |  | 51.7 |  |  | 165.5 |  |  | 45.4 |  |  | 121.4 |  |  | — |  |  | 384.0 |
Other Policyholders' Funds | 37.7 |  |  | 775.9 |  |  | 32.7 |  |  | 846.3 |  |  | 60.1 |  |  | 8.3 |  |  | 612.0 |  |  | — |  |  | 1,526.7 |
Debt | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,739.8 |  |  | 3,739.8 |
All Other | 34.2 |  |  | 25.8 |  |  | 149.3 |  |  | 209.3 |  |  | 119.0 |  |  | 63.9 |  |  | 598.2 |  |  | 1,917.2 |  |  | 2,907.6 |
Total Liabilities | 4,847.4 |  |  | 1,643.8 |  |  | 3,961.5 |  |  | 10,452.7 |  |  | 2,507.6 |  |  | 2,884.3 |  |  | 29,496.6 |  |  | 5,657.0 |  |  | 50,998.2 |
Allocated Stockholders' Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Allocated Stockholders' Equity | 1,584.2 |  |  | 626.8 |  |  | 2,366.2 |  |  | 4,577.2 |  |  | 775.6 |  |  | 1,938.8 |  |  | 5,164.7 |  |  | 345.3 |  |  | 12,801.6 |
Net Unrealized Loss on Securities and Net Loss on Derivatives | (192.6) |  |  | (111.0) |  |  | (211.1) |  |  | (514.7) |  |  | (134.9) |  |  | (138.8) |  |  | (1,581.4) |  |  | (656.1) |  |  | (3,025.9) |
Effect of Change in Discount Rate Assumptions on the Liability for Future Policy Benefits | 230.6 |  |  | 24.1 |  |  | 211.7 |  |  | 466.4 |  |  | 143.0 |  |  | 279.9 |  |  | 296.1 |  |  | — |  |  | 1,185.4 |
Total Allocated Stockholders' Equity | 1,622.2 |  |  | 539.9 |  |  | 2,366.8 |  |  | 4,528.9 |  |  | 783.7 |  |  | 2,079.9 |  |  | 3,879.4 |  |  | (310.8) |  |  | 10,961.1 |
Total Liabilities and Allocated Stockholders' Equity | $ | 6,469.6 |  |  | $ | 2,183.7 |  |  | $ | 6,328.3 |  |  | $ | 14,981.6 |  |  | $ | 3,291.3 |  |  | $ | 4,964.2 |  |  | $ | 33,376.0 |  |  | $ | 5,346.2 |  |  | $ | 61,959.3 |

6. 3

Unum Group Financial Results by Segment
We measure and analyze our segment performance on the basis of "adjusted operating revenue" and "adjusted operating income" or "adjusted operating loss", which differ from total revenue and income before income tax as presented in our consolidated statements of income due to the exclusion of investment gains or losses, certain impacts from reinsurance transactions, and reserve assumption updates, as well as certain other items as specified in the following pages. Investment gains or losses primarily include realized investment gains or losses, expected investment credit losses, and gains or losses on derivatives. These performance measures are in accordance with GAAP guidance for segment reporting, but they should not be viewed as a substitute for total revenue, income before income tax, or net income.

| Three Months Ended |  | Year Ended
| 12/31/2025 |  | 12/31/2024 |  | % Change |  | 12/31/2025 |  | 12/31/2024 |  | % Change
Premium Income |  |  |  |  |  |  |  |  |  |  |
Unum US | $ | 1,748.6 |  |  | $ | 1,721.4 |  |  | 1.6 | % |  | $ | 7,083.5 |  |  | $ | 6,883.2 |  |  | 2.9 | %
Unum International | 283.9 |  |  | 242.4 |  |  | 17.1 |  |  | 1,082.8 |  |  | 949.5 |  |  | 14.0 |
Colonial Life | 463.2 |  |  | 448.9 |  |  | 3.2 |  |  | 1,839.1 |  |  | 1,783.9 |  |  | 3.1 |
Closed Block | 196.4 |  |  | 218.4 |  |  | (10.1) |  |  | 825.6 |  |  | 880.8 |  |  | (6.3) |
| 2,692.1 |  |  | 2,631.1 |  |  | 2.3 |  |  | 10,831.0 |  |  | 10,497.4 |  |  | 3.2 |
Net Investment Income |  |  |  |  |  |  |  |  |  |  |
Unum US | 148.3 |  |  | 156.1 |  |  | (5.0) |  |  | 604.2 |  |  | 632.2 |  |  | (4.4) |
Unum International | 34.7 |  |  | 34.3 |  |  | 1.2 |  |  | 145.6 |  |  | 128.8 |  |  | 13.0 |
Colonial Life | 43.5 |  |  | 42.1 |  |  | 3.3 |  |  | 172.6 |  |  | 161.5 |  |  | 6.9 |
Closed Block | 237.6 |  |  | 297.3 |  |  | (20.1) |  |  | 1,016.5 |  |  | 1,148.9 |  |  | (11.5) |
Corporate | 17.9 |  |  | 13.8 |  |  | 29.7 |  |  | 93.8 |  |  | 58.6 |  |  | 60.1 |
| 482.0 |  |  | 543.6 |  |  | (11.3) |  |  | 2,032.7 |  |  | 2,130.0 |  |  | (4.6) |
Other Income |  |  |  |  |  |  |  |  |  |  |
Unum US | 63.4 |  |  | 57.0 |  |  | 11.2 |  |  | 258.8 |  |  | 235.9 |  |  | 9.7 |
Unum International | 4.4 |  |  | 0.4 |  |  | N.M. |  | 7.7 |  |  | 1.6 |  |  | N.M.
Colonial Life | 0.3 |  |  | 0.4 |  |  | (25.0) |  |  | 1.6 |  |  | 4.0 |  |  | (60.0) |
Closed Block | 11.6 |  |  | 14.0 |  |  | (17.1) |  |  | 49.9 |  |  | 51.7 |  |  | (3.5) |
Corporate | 0.4 |  |  | 0.2 |  |  | N.M. |  | 0.4 |  |  | 1.3 |  |  | (69.2) |
| 80.1 |  |  | 72.0 |  |  | 11.3 |  |  | 318.4 |  |  | 294.5 |  |  | 8.1 |
Total Operating Revenue |  |  |  |  |  |  |  |  |  |  |
Unum US | 1,960.3 |  |  | 1,934.5 |  |  | 1.3 |  |  | 7,946.5 |  |  | 7,751.3 |  |  | 2.5 |
Unum International | 323.0 |  |  | 277.1 |  |  | 16.6 |  |  | 1,236.1 |  |  | 1,079.9 |  |  | 14.5 |
Colonial Life | 507.0 |  |  | 491.4 |  |  | 3.2 |  |  | 2,013.3 |  |  | 1,949.4 |  |  | 3.3 |
Closed Block | 445.6 |  |  | 529.7 |  |  | (15.9) |  |  | 1,892.0 |  |  | 2,081.4 |  |  | (9.1) |
Corporate | 18.3 |  |  | 14.0 |  |  | 30.7 |  |  | 94.2 |  |  | 59.9 |  |  | 57.3 |
| $ | 3,254.2 |  |  | $ | 3,246.7 |  |  | 0.2 |  |  | $ | 13,182.1 |  |  | $ | 12,921.9 |  |  | 2.0 |

7

Unum Group Financial Results by Segment - Continued

| Three Months Ended |  | Year Ended
| 12/31/2025 |  | 12/31/2024 |  | % Change |  | 12/31/2025 |  | 12/31/2024 |  | % Change
Benefits and Expenses |  |  |  |  |  |  |  |  |  |  |
Unum US | $ | 1,666.8 |  |  | $ | 1,601.3 |  |  | 4.1 | % |  | $ | 6,518.9 |  |  | $ | 6,168.5 |  |  | 5.7 | %
Unum International | 289.8 |  |  | 239.5 |  |  | 21.0 |  |  | 1,078.4 |  |  | 929.6 |  |  | 16.0 |
Colonial Life | 393.1 |  |  | 368.7 |  |  | 6.6 |  |  | 1,540.8 |  |  | 1,436.7 |  |  | 7.2 |
Closed Block | 482.8 |  |  | 517.2 |  |  | (6.7) |  |  | 2,614.3 |  |  | 1,834.8 |  |  | 42.5 |
Corporate | 193.2 |  |  | 64.4 |  |  | 200.0 |  |  | 389.6 |  |  | 266.4 |  |  | 46.2 |
| 3,025.7 |  |  | 2,791.1 |  |  | 8.4 |  |  | 12,142.0 |  |  | 10,636.0 |  |  | 14.2 |
Income (Loss) Before Income Tax and Net Investment Loss |  |  |  |  |  |  |  |  |  |  |
Unum US | 293.5 |  |  | 333.2 |  |  | (11.9) |  |  | 1,427.6 |  |  | 1,582.8 |  |  | (9.8) |
Unum International | 33.2 |  |  | 37.6 |  |  | (11.7) |  |  | 157.7 |  |  | 150.3 |  |  | 4.9 |
Colonial Life | 113.9 |  |  | 122.7 |  |  | (7.2) |  |  | 472.5 |  |  | 512.7 |  |  | (7.8) |
Closed Block | (37.2) |  |  | 12.5 |  |  | N.M. |  | (722.3) |  |  | 246.6 |  |  | N.M.
Corporate | (174.9) |  |  | (50.4) |  |  | N.M. |  | (295.4) |  |  | (206.5) |  |  | 43.1 |
| 228.5 |  |  | 455.6 |  |  | (49.8) |  |  | 1,040.1 |  |  | 2,285.9 |  |  | (54.5) |
Income Tax Expense Before Net Investment Loss | 47.0 |  |  | 98.7 |  |  | (52.4) |  |  | 218.1 |  |  | 479.8 |  |  | (54.5) |
Income Before Net Investment Loss | 181.5 |  |  | 356.9 |  |  | (49.1) |  |  | 822.0 |  |  | 1,806.1 |  |  | (54.5) |
Net Investment Loss (net of tax benefit of $2.7; $1.9; $23.1; $7.6) | (7.4) |  |  | (8.2) |  |  | (9.8) |  |  | (83.5) |  |  | (27.0) |  |  | N.M.
Net Income | $ | 174.1 |  |  | $ | 348.7 |  |  | (50.1) |  |  | $ | 738.5 |  |  | $ | 1,779.1 |  |  | (58.5) |

7. 1

Unum Group Quarterly Historical Financial Results by Segment

| 12/31/2025 |  | 9/30/2025 |  | 6/30/2025 |  | 3/31/2025 |  | 12/31/2024 |  | 9/30/2024 |  | 6/30/2024 |  | 3/31/2024 |  |
Premium Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unum US | $ | 1,748.6 |  |  | $ | 1,755.4 |  |  | $ | 1,798.6 |  |  | $ | 1,780.9 |  |  | $ | 1,721.4 |  |  | $ | 1,723.5 |  |  | $ | 1,730.9 |  |  | $ | 1,707.4 |  |  |
Unum International | 283.9 |  |  | 281.1 |  |  | 271.1 |  |  | 246.7 |  |  | 242.4 |  |  | 246.6 |  |  | 228.8 |  |  | 231.7 |  |  |
Colonial Life | 463.2 |  |  | 456.5 |  |  | 462.1 |  |  | 457.3 |  |  | 448.9 |  |  | 441.9 |  |  | 446.2 |  |  | 446.9 |  |  |
Closed Block | 196.4 |  |  | 195.0 |  |  | 216.2 |  |  | 218.0 |  |  | 218.4 |  |  | 216.8 |  |  | 221.3 |  |  | 224.3 |  |  |
| 2,692.1 |  |  | 2,688.0 |  |  | 2,748.0 |  |  | 2,702.9 |  |  | 2,631.1 |  |  | 2,628.8 |  |  | 2,627.2 |  |  | 2,610.3 |  |  |
Net Investment Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unum US | 148.3 |  |  | 151.9 |  |  | 155.1 |  |  | 148.9 |  |  | 156.1 |  |  | 161.0 |  |  | 158.1 |  |  | 157.0 |  |  |
Unum International | 34.7 |  |  | 36.2 |  |  | 46.2 |  |  | 28.5 |  |  | 34.3 |  |  | 30.4 |  |  | 38.0 |  |  | 26.1 |  |  |
Colonial Life | 43.5 |  |  | 44.3 |  |  | 42.6 |  |  | 42.2 |  |  | 42.1 |  |  | 39.6 |  |  | 40.5 |  |  | 39.3 |  |  |
Closed Block | 237.6 |  |  | 224.7 |  |  | 284.5 |  |  | 269.7 |  |  | 297.3 |  |  | 284.3 |  |  | 294.2 |  |  | 273.1 |  |  |
Corporate | 17.9 |  |  | 19.7 |  |  | 32.3 |  |  | 23.9 |  |  | 13.8 |  |  | 12.5 |  |  | 14.3 |  |  | 18.0 |  |  |
| 482.0 |  |  | 476.8 |  |  | 560.7 |  |  | 513.2 |  |  | 543.6 |  |  | 527.8 |  |  | 545.1 |  |  | 513.5 |  |  |
Other Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unum US | 63.4 |  |  | 65.5 |  |  | 58.0 |  |  | 71.9 |  |  | 57.0 |  |  | 60.1 |  |  | 58.2 |  |  | 60.6 |  |  |
Unum International | 4.4 |  |  | 2.9 |  |  | 0.3 |  |  | 0.1 |  |  | 0.4 |  |  | 0.4 |  |  | 0.5 |  |  | 0.3 |  |  |
Colonial Life | 0.3 |  |  | 0.6 |  |  | 0.3 |  |  | 0.4 |  |  | 0.4 |  |  | 0.4 |  |  | 0.2 |  |  | 3.0 |  |  |
Closed Block | 11.6 |  |  | 16.3 |  |  | 12.1 |  |  | 9.9 |  |  | 14.0 |  |  | 12.4 |  |  | 12.2 |  |  | 13.1 |  |  |
Corporate | 0.4 |  |  | 0.3 |  |  | (0.3) |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.4 |  |  | 0.7 |  |  |
| 80.1 |  |  | 85.6 |  |  | 70.4 |  |  | 82.3 |  |  | 72.0 |  |  | 73.3 |  |  | 71.5 |  |  | 77.7 |  |  |
Total Operating Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unum US | 1,960.3 |  |  | 1,972.8 |  |  | 2,011.7 |  |  | 2,001.7 |  |  | 1,934.5 |  |  | 1,944.6 |  |  | 1,947.2 |  |  | 1,925.0 |  |  |
Unum International | 323.0 |  |  | 320.2 |  |  | 317.6 |  |  | 275.3 |  |  | 277.1 |  |  | 277.4 |  |  | 267.3 |  |  | 258.1 |  |  |
Colonial Life | 507.0 |  |  | 501.4 |  |  | 505.0 |  |  | 499.9 |  |  | 491.4 |  |  | 481.9 |  |  | 486.9 |  |  | 489.2 |  |  |
Closed Block | 445.6 |  |  | 436.0 |  |  | 512.8 |  |  | 497.6 |  |  | 529.7 |  |  | 513.5 |  |  | 527.7 |  |  | 510.5 |  |  |
Corporate | 18.3 |  |  | 20.0 |  |  | 32.0 |  |  | 23.9 |  |  | 14.0 |  |  | 12.5 |  |  | 14.7 |  |  | 18.7 |  |  |
| $ | 3,254.2 |  |  | $ | 3,250.4 |  |  | $ | 3,379.1 |  |  | $ | 3,298.4 |  |  | $ | 3,246.7 |  |  | $ | 3,229.9 |  |  | $ | 3,243.8 |  |  | $ | 3,201.5 |  |  |

8

Unum Group Quarterly Historical Financial Results by Segment - Continued

| 12/31/2025 |  | 9/30/2025 |  | 6/30/2025 |  | 3/31/2025 |  | 12/31/2024 |  | 9/30/2024 |  | 6/30/2024 |  | 3/31/2024 |  |
Benefits and Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unum US | $ | 1,666.8 |  |  | $ | 1,486.0 |  |  | $ | 1,693.5 |  |  | $ | 1,672.6 |  |  | $ | 1,601.3 |  |  | $ | 1,437.7 |  |  | $ | 1,589.7 |  |  | $ | 1,539.8 |  |  |
Unum International | 289.8 |  |  | 276.0 |  |  | 276.0 |  |  | 236.6 |  |  | 239.5 |  |  | 244.6 |  |  | 224.8 |  |  | 220.7 |  |  |
Colonial Life | 393.1 |  |  | 375.9 |  |  | 387.6 |  |  | 384.2 |  |  | 368.7 |  |  | 322.5 |  |  | 370.0 |  |  | 375.5 |  |  |
Closed Block | 482.8 |  |  | 1,118.3 |  |  | 523.6 |  |  | 489.6 |  |  | 517.2 |  |  | 320.4 |  |  | 493.4 |  |  | 503.8 |  |  |
Corporate | 193.2 |  |  | 67.7 |  |  | 63.7 |  |  | 65.0 |  |  | 64.4 |  |  | 77.2 |  |  | 60.0 |  |  | 64.8 |  |  |
| 3,025.7 |  |  | 3,323.9 |  |  | 2,944.4 |  |  | 2,848.0 |  |  | 2,791.1 |  |  | 2,402.4 |  |  | 2,737.9 |  |  | 2,704.6 |  |  |
Income (Loss) Before Income Tax Expense (Benefit) and Net Investment Gain (Loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unum US | 293.5 |  |  | 486.8 |  |  | 318.2 |  |  | 329.1 |  |  | 333.2 |  |  | 506.9 |  |  | 357.5 |  |  | 385.2 |  |  |
Unum International | 33.2 |  |  | 44.2 |  |  | 41.6 |  |  | 38.7 |  |  | 37.6 |  |  | 32.8 |  |  | 42.5 |  |  | 37.4 |  |  |
Colonial Life | 113.9 |  |  | 125.5 |  |  | 117.4 |  |  | 115.7 |  |  | 122.7 |  |  | 159.4 |  |  | 116.9 |  |  | 113.7 |  |  |
Closed Block | (37.2) |  |  | (682.3) |  |  | (10.8) |  |  | 8.0 |  |  | 12.5 |  |  | 193.1 |  |  | 34.3 |  |  | 6.7 |  |  |
Corporate | (174.9) |  |  | (47.7) |  |  | (31.7) |  |  | (41.1) |  |  | (50.4) |  |  | (64.7) |  |  | (45.3) |  |  | (46.1) |  |  |
| 228.5 |  |  | (73.5) |  |  | 434.7 |  |  | 450.4 |  |  | 455.6 |  |  | 827.5 |  |  | 505.9 |  |  | 496.9 |  |  |
Income Tax Expense (Benefit) Before Net Investment Gain (Loss) | 47.0 |  |  | (12.0) |  |  | 85.2 |  |  | 97.9 |  |  | 98.7 |  |  | 172.0 |  |  | 108.2 |  |  | 100.9 |  |  |
Income (Loss) Before Net Investment Gain (Loss) | 181.5 |  |  | (61.5) |  |  | 349.5 |  |  | 352.5 |  |  | 356.9 |  |  | 655.5 |  |  | 397.7 |  |  | 396.0 |  |  |
Net Investment Gain (Loss) | (10.1) |  |  | 128.0 |  |  | (17.7) |  |  | (206.8) |  |  | (10.1) |  |  | (12.9) |  |  | (10.4) |  |  | (1.2) |  |  |
Tax Expense (Benefit) on Net Investment Gain (Loss) | (2.7) |  |  | 26.8 |  |  | (3.8) |  |  | (43.4) |  |  | (1.9) |  |  | (3.1) |  |  | (2.2) |  |  | (0.4) |  |  |
Net Income | $ | 174.1 |  |  | $ | 39.7 |  |  | $ | 335.6 |  |  | $ | 189.1 |  |  | $ | 348.7 |  |  | $ | 645.7 |  |  | $ | 389.5 |  |  | $ | 395.2 |  |  |
Net Income Per Common Share - Assuming Dilution | $ | 1.04 |  |  | $ | 0.23 |  |  | $ | 1.92 |  |  | $ | 1.06 |  |  | $ | 1.92 |  |  | $ | 3.46 |  |  | $ | 2.05 |  |  | $ | 2.04 |  |  |

8. 1

Unum Group Financial Results for Unum US Segment

| Three Months Ended |  | Year Ended
| 12/31/2025 |  | 12/31/2024 |  | 12/31/2025 |  | 12/31/2024 |  | 12/31/2023
Operating Revenue |  |  |  |  |  |  |  |  |
Premium Income | $ | 1,748.6 |  |  | $ | 1,721.4 |  |  | $ | 7,083.5 |  |  | $ | 6,883.2 |  |  | $ | 6,579.2 |
Net Investment Income | 148.3 |  |  | 156.1 |  |  | 604.2 |  |  | 632.2 |  |  | 639.9 |
Other Income | 63.4 |  |  | 57.0 |  |  | 258.8 |  |  | 235.9 |  |  | 220.5 |
Total | 1,960.3 |  |  | 1,934.5 |  |  | 7,946.5 |  |  | 7,751.3 |  |  | 7,439.6 |
Benefits and Expenses |  |  |  |  |  |  |  |  |
Policy Benefits Including Remeasurement Loss or Gain | 1,068.8 |  |  | 1,024.7 |  |  | 4,120.4 |  |  | 3,864.7 |  |  | 3,808.5 |
Commissions | 189.7 |  |  | 177.4 |  |  | 794.9 |  |  | 729.3 |  |  | 664.4 |
Deferral of Acquisition Costs | (78.0) |  |  | (73.5) |  |  | (331.7) |  |  | (320.9) |  |  | (314.7) |
Amortization of Deferred Acquisition Costs | 75.1 |  |  | 75.8 |  |  | 283.3 |  |  | 292.5 |  |  | 267.6 |
Other Expenses | 411.2 |  |  | 396.9 |  |  | 1,652.0 |  |  | 1,602.9 |  |  | 1,529.5 |
Total | 1,666.8 |  |  | 1,601.3 |  |  | 6,518.9 |  |  | 6,168.5 |  |  | 5,955.3 |
Income Before Income Tax and Net Investment Gains and Losses | 293.5 |  |  | 333.2 |  |  | 1,427.6 |  |  | 1,582.8 |  |  | 1,484.3 |
Amortization of the Deferred Gain on Reinsurance | (4.4) |  |  | — |  |  | (9.0) |  |  | — |  |  | — |
Non-Contemporaneous Reinsurance | 0.6 |  |  | — |  |  | 1.0 |  |  | — |  |  | — |
Reserve Assumption Updates | — |  |  | — |  |  | (147.7) |  |  | (143.6) |  |  | (128.8) |
Adjusted Operating Income | $ | 289.7 |  |  | $ | 333.2 |  |  | $ | 1,271.9 |  |  | $ | 1,439.2 |  |  | $ | 1,355.5 |
Operating Ratios (% of Premium Income): |  |  |  |  |  |  |  |  |
Benefit Ratio 1 | 61.1 | % |  | 59.5 | % |  | 60.2 | % |  | 58.2 | % |  | 59.8 | %
Other Expense Ratio 2 | 22.8 | % |  | 22.3 | % |  | 22.6 | % |  | 22.5 | % |  | 22.5 | %
Income Ratio | 16.8 | % |  |  |  | 20.2 | % |  | 23.0 | % |  | 22.6 | %
Adjusted Operating Income Ratio | 16.6 | % |  | 19.4 | % |  | 18.0 | % |  | 20.9 | % |  | 20.6 | %
1 Excludes the reserve assumption updates that occurred during the third quarters of 2025, 2024, and 2023. Also excludes the impact of non-contemporaneous reinsurance.
2 Ratio of Other Expenses to Premium Income plus Unum US Group Disability Other Income, which is primarily related to fee-based services.

9

Unum Group Financial Results for Unum US Group Disability

| Three Months Ended |  | Year Ended
| 12/31/2025 |  | 12/31/2024 |  | 12/31/2025 |  | 12/31/2024 |  | 12/31/2023
Operating Revenue |  |  |  |  |  |  |  |  |
Premium Income |  |  |  |  |  |  |  |  |
Group Long-term Disability | $ | 499.6 |  |  | $ | 525.8 |  |  | $ | 2,011.1 |  |  | $ | 2,086.1 |  |  | $ | 2,057.2 |
Group Short-term Disability | 284.8 |  |  | 273.3 |  |  | 1,138.4 |  |  | 1,084.0 |  |  | 1,012.3 |
Total Premium Income | 784.4 |  |  | 799.1 |  |  | 3,149.5 |  |  | 3,170.1 |  |  | 3,069.5 |
Net Investment Income | 72.2 |  |  | 76.4 |  |  | 296.0 |  |  | 311.2 |  |  | 324.8 |
Other Income | 57.2 |  |  | 57.3 |  |  | 228.6 |  |  | 232.1 |  |  | 211.6 |
Total | 913.8 |  |  | 932.8 |  |  | 3,674.1 |  |  | 3,713.4 |  |  | 3,605.9 |
Benefits and Expenses |  |  |  |  |  |  |  |  |
Policy Benefits Including Remeasurement Loss or Gain | 503.4 |  |  | 482.5 |  |  | 1,858.5 |  |  | 1,781.8 |  |  | 1,693.2 |
Commissions | 59.3 |  |  | 60.3 |  |  | 250.1 |  |  | 244.4 |  |  | 230.5 |
Deferral of Acquisition Costs | (14.2) |  |  | (14.1) |  |  | (60.7) |  |  | (62.2) |  |  | (60.2) |
Amortization of Deferred Acquisition Costs | 16.7 |  |  | 17.9 |  |  | 58.2 |  |  | 64.7 |  |  | 57.6 |
Other Expenses | 246.3 |  |  | 239.7 |  |  | 982.4 |  |  | 973.5 |  |  | 936.1 |
Total | 811.5 |  |  | 786.3 |  |  | 3,088.5 |  |  | 3,002.2 |  |  | 2,857.2 |
Income Before Income Tax and Net Investment Gains and Losses | 102.3 |  |  | 146.5 |  |  | 585.6 |  |  | 711.2 |  |  | 748.7 |
Reserve Assumption Updates | — |  |  | — |  |  | (105.8) |  |  | (90.0) |  |  | (121.0) |
Adjusted Operating Income | $ | 102.3 |  |  | $ | 146.5 |  |  | $ | 479.8 |  |  | $ | 621.2 |  |  | $ | 627.7 |
Operating Ratios (% of Premium Income): |  |  |  |  |  |  |  |  |
Benefit Ratio 1 | 64.2 | % |  | 60.4 | % |  | 62.4 | % |  | 59.0 | % |  | 59.1 | %
Other Expense Ratio 2 | 29.3 | % |  | 28.0 | % |  | 29.1 | % |  | 28.6 | % |  | 28.5 | %
Income Ratio |  |  |  |  | 18.6 | % |  | 22.4 | % |  | 24.4 | %
Adjusted Operating Income Ratio | 13.0 | % |  | 18.3 | % |  | 15.2 | % |  | 19.6 | % |  | 20.4 | %
Persistency: |  |  |  |  |  |  |  |  |
Group Long-term Disability |  |  |  |  | 91.1 | % |  | 93.3 | % |  | 90.8 | %
Group Short-term Disability |  |  |  |  | 88.9 | % |  | 91.7 | % |  | 88.9 | %
1 Excludes the reserve assumption updates that occurred during the third quarters of 2025, 2024, and 2023.
2 Ratio of Other Expenses to Premium Income plus Other Income, which is primarily related to fee-based services.

9. 1

Unum Group Financial Results for Unum US Group Life and Accidental Death & Dismemberment

| Three Months Ended |  | Year Ended
| 12/31/2025 |  | 12/31/2024 |  | 12/31/2025 |  | 12/31/2024 |  | 12/31/2023
Operating Revenue |  |  |  |  |  |  |  |  |
Premium Income |  |  |  |  |  |  |  |  |
Group Life | $ | 466.6 |  |  | $ | 446.8 |  |  | $ | 1,871.1 |  |  | $ | 1,784.7 |  |  | $ | 1,679.0 |
Accidental Death & Dismemberment | 49.3 |  |  | 46.8 |  |  | 195.6 |  |  | 186.1 |  |  | 175.5 |
Total Premium Income | 515.9 |  |  | 493.6 |  |  | 2,066.7 |  |  | 1,970.8 |  |  | 1,854.5 |
Net Investment Income | 21.1 |  |  | 21.7 |  |  | 81.6 |  |  | 88.3 |  |  | 90.1 |
Other Income | 0.2 |  |  | 0.1 |  |  | 1.2 |  |  | 1.5 |  |  | 1.0 |
Total | 537.2 |  |  | 515.4 |  |  | 2,149.5 |  |  | 2,060.6 |  |  | 1,945.6 |
Benefits and Expenses |  |  |  |  |  |  |  |  |
Policy Benefits Including Remeasurement Loss or Gain | 334.5 |  |  | 329.1 |  |  | 1,391.8 |  |  | 1,294.2 |  |  | 1,347.7 |
Commissions | 45.3 |  |  | 41.5 |  |  | 186.3 |  |  | 168.0 |  |  | 155.9 |
Deferral of Acquisition Costs | (10.8) |  |  | (9.6) |  |  | (45.5) |  |  | (40.6) |  |  | (38.6) |
Amortization of Deferred Acquisition Costs | 12.6 |  |  | 11.7 |  |  | 39.0 |  |  | 38.4 |  |  | 39.0 |
Other Expenses | 63.7 |  |  | 60.0 |  |  | 255.4 |  |  | 243.0 |  |  | 229.9 |
Total | 445.3 |  |  | 432.7 |  |  | 1,827.0 |  |  | 1,703.0 |  |  | 1,733.9 |
Income before Income Tax and Net Investment Gains and Losses | 91.9 |  |  | 82.7 |  |  | 322.5 |  |  | 357.6 |  |  | 211.7 |
Reserve Assumption Update | — |  |  | — |  |  | (3.1) |  |  | (13.0) |  |  | — |
Adjusted Operating Income | $ | 91.9 |  |  | $ | 82.7 |  |  | $ | 319.4 |  |  | $ | 344.6 |  |  | $ | 211.7 |
Operating Ratios (% of Premium Income): |  |  |  |  |  |  |  |  |
Benefit Ratio 1 | 64.8 | % |  | 66.7 | % |  | 67.5 | % |  | 66.3 | % |  | 72.7 | %
Other Expense Ratio | 12.3 | % |  | 12.2 | % |  | 12.4 | % |  | 12.3 | % |  | 12.4 | %
Income Ratio |  |  |  |  | 15.6 | % |  | 18.1 | % |  |
Adjusted Operating Income Ratio | 17.8 | % |  | 16.8 | % |  | 15.5 | % |  | 17.5 | % |  | 11.4 | %
Persistency: |  |  |  |  |  |  |  |  |
Group Life |  |  |  |  | 90.2 | % |  | 92.0 | % |  | 89.6 | %
Accidental Death & Dismemberment |  |  |  |  | 89.1 | % |  | 91.2 | % |  | 88.7 | %
1 Excludes the reserve assumption update that occurred during the third quarters of 2025 and 2024.

9. 2

Unum Group Financial Results for Unum US Supplemental and Voluntary

| Three Months Ended |  | Year Ended
| 12/31/2025 |  | 12/31/2024 |  | 12/31/2025 |  | 12/31/2024 |  | 12/31/2023
Operating Revenue |  |  |  |  |  |  |  |  |
Premium Income |  |  |  |  |  |  |  |  |
Voluntary Benefits | $ | 227.2 |  |  | $ | 214.1 |  |  | $ | 927.4 |  |  | $ | 879.2 |  |  | $ | 850.1 |
Individual Disability | 139.7 |  |  | 141.4 |  |  | 615.1 |  |  | 566.0 |  |  | 527.0 |
Dental and Vision | 81.4 |  |  | 73.2 |  |  | 324.8 |  |  | 297.1 |  |  | 278.1 |
Total Premium Income | 448.3 |  |  | 428.7 |  |  | 1,867.3 |  |  | 1,742.3 |  |  | 1,655.2 |
Net Investment Income | 55.0 |  |  | 58.0 |  |  | 226.6 |  |  | 232.7 |  |  | 225.0 |
Other Income | 6.0 |  |  | (0.4) |  |  | 29.0 |  |  | 2.3 |  |  | 7.9 |
Total | 509.3 |  |  | 486.3 |  |  | 2,122.9 |  |  | 1,977.3 |  |  | 1,888.1 |
Benefits and Expenses |  |  |  |  |  |  |  |  |
Policy Benefits Including Remeasurement Loss or Gain | 230.9 |  |  | 213.1 |  |  | 870.1 |  |  | 788.7 |  |  | 767.6 |
Commissions | 85.1 |  |  | 75.6 |  |  | 358.5 |  |  | 316.9 |  |  | 278.0 |
Deferral of Acquisition Costs | (53.0) |  |  | (49.8) |  |  | (225.5) |  |  | (218.1) |  |  | (215.9) |
Amortization of Deferred Acquisition Costs | 45.8 |  |  | 46.2 |  |  | 186.1 |  |  | 189.4 |  |  | 171.0 |
Other Expenses | 101.2 |  |  | 97.2 |  |  | 414.2 |  |  | 386.4 |  |  | 363.5 |
Total | 410.0 |  |  | 382.3 |  |  | 1,603.4 |  |  | 1,463.3 |  |  | 1,364.2 |
Income Before Income Tax and Net Investment Gains and Losses | 99.3 |  |  | 104.0 |  |  | 519.5 |  |  | 514.0 |  |  | 523.9 |
Amortization of the Deferred Gain on Reinsurance | (4.4) |  |  | — |  |  | (9.0) |  |  | — |  |  | — |
Non-Contemporaneous Reinsurance | 0.6 |  |  | — |  |  | 1.0 |  |  | — |  |  | — |
Reserve Assumption Updates - Voluntary Benefits | — |  |  | — |  |  | (11.1) |  |  | 12.2 |  |  | (10.4) |
Reserve Assumption Updates - Individual Disability | — |  |  | — |  |  | (27.7) |  |  | (52.8) |  |  | 2.6 |
Adjusted Operating Income | $ | 95.5 |  |  | $ | 104.0 |  |  | $ | 472.7 |  |  | $ | 473.4 |  |  | $ | 516.1 |
Operating Ratios (% of Premium Income): |  |  |  |  |  |  |  |  |
Benefit Ratios: |  |  |  |  |  |  |  |  |
Voluntary Benefits 1 | 48.5 | % |  | 47.3 | % |  | 45.7 | % |  | 43.0 | % |  | 39.8 | %
Individual Disability 1,2 | 42.7 | % |  | 41.0 | % |  | 38.8 | % |  | 41.0 | % |  | 44.3 | %
Dental and Vision | 74.3 | % |  | 73.5 | % |  | 75.6 | % |  | 73.9 | % |  | 73.1 | %
Other Expense Ratio | 22.6 | % |  | 22.7 | % |  | 22.2 | % |  | 22.2 | % |  | 22.0 | %
Income Ratio | 22.2 | % |  |  |  | 27.8 | % |  | 29.5 | % |  | 31.7 | %
Adjusted Operating Income Ratio | 21.3 | % |  | 24.3 | % |  | 25.3 | % |  | 27.2 | % |  | 31.2 | %
Persistency: |  |  |  |  |  |  |  |  |
Voluntary Benefits |  |  |  |  | 76.5 | % |  | 76.0 | % |  | 75.5 | %
Individual Disability |  |  |  |  | 87.7 | % |  | 89.0 | % |  | 89.0 | %
Dental and Vision |  |  |  |  | 83.3 | % |  | 81.4 | % |  | 77.1 | %
1 Excludes the reserve assumption updates that occurred during the third quarters of 2025, 2024, and 2023.
2 Excludes the impact of non-contemporaneous reinsurance.

9. 3

Unum Group Financial Results for Unum International Segment

| Three Months Ended |  | Year Ended
| 12/31/2025 |  | 12/31/2024 |  | 12/31/2025 |  | 12/31/2024 |  | 12/31/2023
Operating Revenue |  |  |  |  |  |  |  |  |
Premium Income |  |  |  |  |  |  |  |  |
Unum UK |  |  |  |  |  |  |  |  |
Group Long-term Disability | $ | 108.1 |  |  | $ | 105.6 |  |  | $ | 427.5 |  |  | $ | 418.0 |  |  | $ | 396.1 |
Group Life | 74.1 |  |  | 55.0 |  |  | 275.7 |  |  | 211.3 |  |  | 169.3 |
Supplemental | 47.9 |  |  | 40.5 |  |  | 184.2 |  |  | 165.6 |  |  | 141.5 |
Unum Poland | 53.8 |  |  | 41.3 |  |  | 195.4 |  |  | 154.6 |  |  | 118.3 |
Total Premium Income | 283.9 |  |  | 242.4 |  |  | 1,082.8 |  |  | 949.5 |  |  | 825.2 |
Net Investment Income | 34.7 |  |  | 34.3 |  |  | 145.6 |  |  | 128.8 |  |  | 137.2 |
Other Income | 4.4 |  |  | 0.4 |  |  | 7.7 |  |  | 1.6 |  |  | 1.6 |
Total | 323.0 |  |  | 277.1 |  |  | 1,236.1 |  |  | 1,079.9 |  |  | 964.0 |
Benefits and Expenses |  |  |  |  |  |  |  |  |
Policy Benefits Including Remeasurement Loss or Gain | 211.9 |  |  | 169.3 |  |  | 767.4 |  |  | 656.7 |  |  | 579.8 |
Commissions | 22.1 |  |  | 20.8 |  |  | 95.7 |  |  | 82.5 |  |  | 72.5 |
Deferral of Acquisition Costs | (5.6) |  |  | (4.6) |  |  | (22.0) |  |  | (17.8) |  |  | (14.6) |
Amortization of Deferred Acquisition Costs | 2.9 |  |  | 2.2 |  |  | 10.7 |  |  | 9.5 |  |  | 8.4 |
Other Expenses | 58.5 |  |  | 51.8 |  |  | 226.6 |  |  | 198.7 |  |  | 177.7 |
Total | 289.8 |  |  | 239.5 |  |  | 1,078.4 |  |  | 929.6 |  |  | 823.8 |
Income Before Income Tax and Net Investment Gains and Losses | 33.2 |  |  | 37.6 |  |  | 157.7 |  |  | 150.3 |  |  | 140.2 |
Reserve Assumption Updates | — |  |  | — |  |  | (5.4) |  |  | 7.5 |  |  | 17.9 |
Adjusted Operating Income | $ | 33.2 |  |  | $ | 37.6 |  |  | $ | 152.3 |  |  | $ | 157.8 |  |  | $ | 158.1 |

10

Unum Group Financial Results for Unum UK

| Three Months Ended |  | Year Ended
(in millions of pounds, except exchange rate) | 12/31/2025 |  | 12/31/2024 |  | 12/31/2025 |  | 12/31/2024 |  | 12/31/2023
Operating Revenue |  |  |  |  |  |  |  |  |
Premium Income |  |  |  |  |  |  |  |  |
Group Long-term Disability | £ | 81.3 |  |  | £ | 82.4 |  |  | £ | 324.0 |  |  | £ | 327.0 |  |  | £ | 318.5 |
Group Life | 55.7 |  |  | 42.9 |  |  | 208.8 |  |  | 165.1 |  |  | 136.1 |
Supplemental | 36.0 |  |  | 31.6 |  |  | 139.6 |  |  | 129.5 |  |  | 113.7 |
Total Premium Income | 173.0 |  |  | 156.9 |  |  | 672.4 |  |  | 621.6 |  |  | 568.3 |
Net Investment Income | 23.3 |  |  | 24.4 |  |  | 99.4 |  |  | 91.9 |  |  | 102.4 |
Other Income (Loss) | 3.1 |  |  | (0.1) |  |  | 5.3 |  |  | 0.1 |  |  | 0.2 |
Total | 199.4 |  |  | 181.2 |  |  | 777.1 |  |  | 713.6 |  |  | 670.9 |
Benefits and Expenses |  |  |  |  |  |  |  |  |
Policy Benefits Including Remeasurement Loss or Gain | 134.7 |  |  | 113.1 |  |  | 493.8 |  |  | 440.2 |  |  | 408.5 |
Commissions | 8.5 |  |  | 9.2 |  |  | 40.6 |  |  | 38.2 |  |  | 37.4 |
Deferral of Acquisition Costs | (1.0) |  |  | (1.0) |  |  | (3.9) |  |  | (3.8) |  |  | (3.9) |
Amortization of Deferred Acquisition Costs | 1.2 |  |  | 1.2 |  |  | 4.9 |  |  | 5.2 |  |  | 5.2 |
Other Expenses | 33.7 |  |  | 31.1 |  |  | 133.5 |  |  | 122.4 |  |  | 115.4 |
Total | 177.1 |  |  | 153.6 |  |  | 668.9 |  |  | 602.2 |  |  | 562.6 |
Income Before Income Tax and Net Investment Gains and Losses | 22.3 |  |  | 27.6 |  |  | 108.2 |  |  | 111.4 |  |  | 108.3 |
Reserve Assumption Updates | — |  |  | — |  |  | (0.7) |  |  | 6.4 |  |  | 16.3 |
Adjusted Operating Income | £ | 22.3 |  |  | £ | 27.6 |  |  | £ | 107.5 |  |  | £ | 117.8 |  |  | £ | 124.6 |
Weighted Average Pound/Dollar Exchange Rate | 1.332 |  |  | 1.279 |  |  | 1.318 |  |  | 1.278 |  |  | 1.243 |
Operating Ratios (% of Premium Income): |  |  |  |  |  |  |  |  |
Benefit Ratio 1 | 77.9 | % |  | 72.1 | % |  | 73.5 | % |  | 69.8 | % |  | 69.0 | %
Other Expense Ratio | 19.5 | % |  | 19.8 | % |  | 19.9 | % |  | 19.7 | % |  | 20.3 | %
Income Ratio |  |  |  |  | 16.1 | % |  | 17.9 | % |  | 19.1 | %
Adjusted Operating Income Ratio | 12.9 | % |  | 17.6 | % |  | 16.0 | % |  | 19.0 | % |  | 21.9 | %
Persistency: |  |  |  |  |  |  |  |  |
Group Long-term Disability |  |  |  |  | 92.3 | % |  | 92.0 | % |  | 92.5 | %
Group Life |  |  |  |  | 90.1 | % |  | 89.1 | % |  | 83.0 | %
Supplemental |  |  |  |  | 93.3 | % |  | 90.4 | % |  | 91.7 | %
1 Excludes the reserve assumption updates that occurred during the third quarters of 2025, 2024, and 2023.

10. 1

Unum Group Financial Results for Colonial Life Segment

| Three Months Ended |  | Year Ended
| 12/31/2025 |  | 12/31/2024 |  | 12/31/2025 |  | 12/31/2024 |  | 12/31/2023
Operating Revenue |  |  |  |  |  |  |  |  |
Premium Income |  |  |  |  |  |  |  |  |
Accident, Sickness, and Disability | $ | 249.8 |  |  | $ | 244.0 |  |  | $ | 993.5 |  |  | $ | 969.5 |  |  | $ | 946.1 |
Life | 122.9 |  |  | 115.4 |  |  | 483.6 |  |  | 458.0 |  |  | 426.5 |
Cancer and Critical Illness | 90.5 |  |  | 89.5 |  |  | 362.0 |  |  | 356.4 |  |  | 353.5 |
Total Premium Income | 463.2 |  |  | 448.9 |  |  | 1,839.1 |  |  | 1,783.9 |  |  | 1,726.1 |
Net Investment Income | 43.5 |  |  | 42.1 |  |  | 172.6 |  |  | 161.5 |  |  | 153.5 |
Other Income | 0.3 |  |  | 0.4 |  |  | 1.6 |  |  | 4.0 |  |  | 1.2 |
Total | 507.0 |  |  | 491.4 |  |  | 2,013.3 |  |  | 1,949.4 |  |  | 1,880.8 |
Benefits and Expenses |  |  |  |  |  |  |  |  |
Policy Benefits Including Remeasurement Loss or Gain | 223.6 |  |  | 210.0 |  |  | 876.2 |  |  | 804.7 |  |  | 798.1 |
Commissions | 106.0 |  |  | 96.2 |  |  | 398.6 |  |  | 378.4 |  |  | 359.4 |
Deferral of Acquisition Costs | (92.5) |  |  | (78.1) |  |  | (343.4) |  |  | (312.8) |  |  | (302.9) |
Amortization of Deferred Acquisition Costs | 59.2 |  |  | 55.1 |  |  | 233.1 |  |  | 219.0 |  |  | 205.4 |
Other Expenses | 96.8 |  |  | 85.5 |  |  | 376.3 |  |  | 347.4 |  |  | 340.0 |
Total | 393.1 |  |  | 368.7 |  |  | 1,540.8 |  |  | 1,436.7 |  |  | 1,400.0 |
Income Before Income Tax and Net Investment Gains and Losses | 113.9 |  |  | 122.7 |  |  | 472.5 |  |  | 512.7 |  |  | 480.8 |
Reserve Assumption Updates | — |  |  | — |  |  | (8.9) |  |  | (46.0) |  |  | (80.7) |
Adjusted Operating Income | $ | 113.9 |  |  | $ | 122.7 |  |  | $ | 463.6 |  |  | $ | 466.7 |  |  | $ | 400.1 |
Operating Ratios (% of Premium Income): |  |  |  |  |  |  |  |  |
Benefit Ratio 1 | 48.3 | % |  | 46.8 | % |  | 48.1 | % |  | 47.7 | % |  | 50.9 | %
Other Expense Ratio | 20.9 | % |  | 19.0 | % |  | 20.5 | % |  | 19.5 | % |  | 19.7 | %
Income Ratio |  |  |  |  | 25.7 | % |  | 28.7 | % |  | 27.9 | %
Adjusted Operating Income Ratio | 24.6 | % |  | 27.3 | % |  | 25.2 | % |  | 26.2 | % |  | 23.2 | %
Persistency: |  |  |  |  |  |  |  |  |
Accident, Sickness, and Disability |  |  |  |  | 74.1 | % |  | 73.7 | % |  | 73.6 | %
Life |  |  |  |  | 84.2 | % |  | 84.4 | % |  | 85.1 | %
Cancer and Critical Illness |  |  |  |  | 82.1 | % |  | 82.2 | % |  | 82.4 | %
1 Excludes the reserve assumption updates that occurred during the third quarters of 2025, 2024, and 2023.

11

Unum Group Financial Results for Closed Block Segment

| Three Months Ended |  | Year Ended
| 12/31/2025 |  | 12/31/2024 |  | 12/31/2025 |  | 12/31/2024 |  | 12/31/2023
Operating Revenue |  |  |  |  |  |  |  |  |
Premium Income |  |  |  |  |  |  |  |  |
Long-term Care | $ | 160.1 |  |  | $ | 174.6 |  |  | $ | 670.8 |  |  | $ | 696.1 |  |  | $ | 696.0 |
All Other | 36.3 |  |  | 43.8 |  |  | 154.8 |  |  | 184.7 |  |  | 219.5 |
Total Premium Income | 196.4 |  |  | 218.4 |  |  | 825.6 |  |  | 880.8 |  |  | 915.5 |
Net Investment Income | 237.6 |  |  | 297.3 |  |  | 1,016.5 |  |  | 1,148.9 |  |  | 1,066.3 |
Other Income | 11.6 |  |  | 14.0 |  |  | 49.9 |  |  | 51.7 |  |  | 52.6 |
Total | 445.6 |  |  | 529.7 |  |  | 1,892.0 |  |  | 2,081.4 |  |  | 2,034.4 |
Benefits and Expenses |  |  |  |  |  |  |  |  |
Policy Benefits Including Remeasurement Loss or Gain | 388.6 |  |  | 457.2 |  |  | 2,301.3 |  |  | 1,591.8 |  |  | 2,070.7 |
Commissions | 15.6 |  |  | 16.4 |  |  | 66.1 |  |  | 68.4 |  |  | 73.8 |
Other Expenses | 78.6 |  |  | 43.6 |  |  | 246.9 |  |  | 174.6 |  |  | 172.7 |
Total | 482.8 |  |  | 517.2 |  |  | 2,614.3 |  |  | 1,834.8 |  |  | 2,317.2 |
Income (Loss) Before Income Tax and Net Investment Gains and Losses | (37.2) |  |  | 12.5 |  |  | (722.3) |  |  | 246.6 |  |  | (282.8) |
Amortization of the Cost of Reinsurance | 48.8 |  |  | 10.3 |  |  | 116.7 |  |  | 41.4 |  |  | 44.1 |
Non-Contemporaneous Reinsurance | 9.5 |  |  | 4.9 |  |  | 28.6 |  |  | 25.1 |  |  | 34.8 |
Reserve Assumption Updates - Long-term Care | — |  |  | — |  |  | 643.1 |  |  | (174.1) |  |  | 368.1 |
Reserve Assumption Updates - All Other | — |  |  | — |  |  | (2.6) |  |  | (1.2) |  |  | 0.7 |
Adjusted Operating Income | $ | 21.1 |  |  | $ | 27.7 |  |  | $ | 63.5 |  |  | $ | 137.8 |  |  | $ | 164.9 |
Long-term Care Net Premium Ratio 1 |  |  |  |  | 97.5 | % |  | 94.6 | % |  | 93.5 | %
Operating Ratios (% of Premium Income): |  |  |  |  |  |  |  |  |
Other Expense Ratio 2 | 15.2 | % |  | 15.2 | % |  | 15.8 | % |  | 15.1 | % |  | 14.0 | %
Income (Loss) Ratio | (18.9) | % |  | 5.7 | % |  | (87.5) | % |  | 28.0 | % |  | (30.9) | %
Adjusted Operating Income Ratio | 10.7 | % |  | 12.7 | % |  | 7.7 | % |  | 15.6 | % |  | 18.0 | %
Long-term Care Persistency |  |  |  |  | 95.8 | % |  | 95.8 | % |  | 95.6 | %
1 Gross of reinsurance.
2 Excludes amortization of the cost of reinsurance.

12

Unum Group Financial Results for Corporate Segment

| Three Months Ended |  | Year Ended
| 12/31/2025 |  | 12/31/2024 |  | 12/31/2025 |  | 12/31/2024 |  | 12/31/2023
Operating Revenue |  |  |  |  |  |  |  |  |
Net Investment Income | $ | 17.9 |  |  | $ | 13.8 |  |  | $ | 93.8 |  |  | $ | 58.6 |  |  | $ | 99.8 |
Other Income | 0.4 |  |  | 0.2 |  |  | 0.4 |  |  | 1.3 |  |  | 3.3 |
Total | 18.3 |  |  | 14.0 |  |  | 94.2 |  |  | 59.9 |  |  | 103.1 |
Interest, Debt, and Other Expenses | 193.2 |  |  | 64.4 |  |  | 389.6 |  |  | 266.4 |  |  | 249.5 |
Loss Before Income Tax and Net Investment Gains and Losses | (174.9) |  |  | (50.4) |  |  | (295.4) |  |  | (206.5) |  |  | (146.4) |
Settlement Loss on the U.S. Pension Plan Annuity Purchase | 103.8 |  |  | — |  |  | 103.8 |  |  | — |  |  | — |
Accelerated Charitable Contribution | 20.0 |  |  | — |  |  | 20.0 |  |  | — |  |  | — |
Loss on Legal Settlement | — |  |  | — |  |  | — |  |  | 15.3 |  |  | — |
Adjusted Operating Loss | $ | (51.1) |  |  | $ | (50.4) |  |  | $ | (171.6) |  |  | $ | (191.2) |  |  | $ | (146.4) |

13

Unum Group Investments

|  | 12/31/2025 |  |  |  | 12/31/2025 |  | 12/31/2024
Fixed Maturity Securities (Fair Value) |  |  |  |  |  | Selected Statistics |  |  |  |
Public |  | $ | 20,360.0 |  |  | 61.6 | % |  | Earned Book Yield |  | 4.35 | % |  | 4.44 | %
Mortgage-Backed/Asset-Backed Securities 1 |  | 1,179.3 |  |  | 3.6 |  |  | Average Duration (in years) |  | 8.42 |  | 8.28
Private Placements |  | 5,827.4 |  |  | 17.6 |  |  |  |  |  |  |
High Yield |  | 1,208.6 |  |  | 3.6 |  |  |  |  |  |  |
Government Securities |  | 1,415.3 |  |  | 4.3 |  |  |  |  |  |  |
Municipal Securities |  | 3,058.1 |  |  | 9.3 |  |  |  |  |  |  |
Redeemable Preferred Stocks |  | 7.9 |  |  | — |  |  |  |  |  |  |
Total |  | $ | 33,056.6 |  |  | 100.0 | % |  |  |  |  |  |
|  | Amortized Cost |  | Fair Value |  | Private Equity Partnerships |  | 12/31/2025 |  | 12/31/2024
Quality Ratings of Fixed Maturity Securities |  |  |  |  |  | Private Credit Partnerships |  | $ | 255.8 |  |  | $ | 289.2 |
Aaa |  | 3.6 | % |  | 3.6 | % |  | Private Equity Partnerships |  | 651.4 |  |  | 640.2 |
Aa |  | 16.5 |  |  | 15.8 |  |  | Real Asset Partnerships |  | 549.1 |  |  | 521.2 |
A |  | 32.6 |  |  | 33.1 |  |  | Total |  | $ | 1,456.3 |  |  | $ | 1,450.6 |
Baa |  | 43.7 |  |  | 43.9 |  |  |  |  |  |  |
Below Baa |  | 3.6 |  |  | 3.6 |  |  |  |  |  |  |
Total |  | 100.0 | % |  | 100.0 | % |  | Non-Current Investments |  | $ | — |  |  | $ | 13.0 |

1 Includes credit-tranched securities collateralized by loan obligations, auto loans, and other asset types.
14

Unum Group Investments at December 31, 2025

Fixed Maturity Securities - By Industry Classification - Unrealized Gain (Loss)
Classification |  | Fair Value |  | Net Unrealized Gain (Loss) |  | Fair Value with Gross Unrealized Loss |  | Gross Unrealized Loss |  | Fair Value with Gross Unrealized Gain |  | Gross Unrealized Gain
Basic Industry |  | $ | 2,189.1 |  |  | $ | (76.4) |  |  | $ | 1,099.9 |  |  | $ | 121.5 |  |  | $ | 1,089.2 |  |  | $ | 45.1 |
Capital Goods |  | 2,854.6 |  |  | (78.8) |  |  | 1,512.6 |  |  | 153.5 |  |  | 1,342.0 |  |  | 74.7 |
Communications |  | 1,994.6 |  |  | (49.4) |  |  | 915.0 |  |  | 136.9 |  |  | 1,079.6 |  |  | 87.5 |
Consumer Cyclical |  | 1,204.6 |  |  | (72.9) |  |  | 837.2 |  |  | 95.2 |  |  | 367.4 |  |  | 22.3 |
Consumer Non-Cyclical |  | 5,594.0 |  |  | (384.9) |  |  | 3,744.5 |  |  | 502.5 |  |  | 1,849.5 |  |  | 117.6 |
Energy |  | 2,170.6 |  |  | 42.0 |  |  | 652.7 |  |  | 63.6 |  |  | 1,517.9 |  |  | 105.6 |
Financial Institutions |  | 3,642.5 |  |  | (219.3) |  |  | 2,520.6 |  |  | 254.7 |  |  | 1,121.9 |  |  | 35.4 |
Mortgage/Asset-Backed 1 |  | 1,179.3 |  |  | (8.0) |  |  | 481.9 |  |  | 17.3 |  |  | 697.4 |  |  | 9.3 |
Sovereigns |  | 870.3 |  |  | (138.5) |  |  | 582.8 |  |  | 157.3 |  |  | 287.5 |  |  | 18.8 |
Technology |  | 1,346.1 |  |  | (100.2) |  |  | 952.1 |  |  | 115.2 |  |  | 394.0 |  |  | 15.0 |
Transportation |  | 1,473.9 |  |  | (92.2) |  |  | 917.2 |  |  | 116.5 |  |  | 556.7 |  |  | 24.3 |
U.S. Government Agencies and Municipalities |  | 3,603.1 |  |  | (391.4) |  |  | 2,317.8 |  |  | 482.4 |  |  | 1,285.3 |  |  | 91.0 |
Public Utilities |  | 4,933.9 |  |  | (114.7) |  |  | 2,352.4 |  |  | 290.1 |  |  | 2,581.5 |  |  | 175.4 |
Total |  | $ | 33,056.6 |  |  | $ | (1,684.7) |  |  | $ | 18,886.7 |  |  | $ | 2,506.7 |  |  | $ | 14,169.9 |  |  | $ | 822.0 |
Gross Unrealized Loss on Fixed Maturity Securities by Length of Time in Unrealized Loss Position
|  | Investment-Grade |  |  |  | Below-Investment-Grade |  |
Category |  | Fair Value |  | Gross Unrealized Loss |  |  |  | Fair Value |  | Gross Unrealized Loss |  |
Less than 91 days |  | $ | 2,786.5 |  |  | $ | (39.3) |  |  |  |  | $ | 59.4 |  |  | $ | (0.5) |  |  |
91 through 180 days |  | 219.8 |  |  | (12.8) |  |  |  |  | 5.4 |  |  | (0.3) |  |  |
181 through 270 days |  | 53.4 |  |  | (3.0) |  |  |  |  | 0.0 |  |  | — |  |  |
271 days to 1 year |  | 201.0 |  |  | (12.5) |  |  |  |  | 7.8 |  |  | (1.5) |  |  |
Greater than 1 year |  | 15,261.2 |  |  | (2,390.4) |  |  |  |  | 292.2 |  |  | (46.4) |  |  |
Total |  | $ | 18,521.9 |  |  | $ | (2,458.0) |  |  |  |  | $ | 364.8 |  |  | $ | (48.7) |  |  |

1 Includes credit-tranched securities collateralized by loan obligations, auto loans, and other asset types.
14. 1

Appendix to Statistical Supplement
2025 Significant Items:
•In February 2025, Unum Life Insurance Company of America entered into a master transaction agreement with Fortitude Reinsurance Company Ltd. (Fortitude Re) which resulted in the execution of a coinsurance agreement (reinsurance agreement) during July 2025. This reinsurance agreement reinsures a portion of our Closed Block long-term care business and a portion of our Unum US individual disability business on a coinsurance basis to Fortitude Re effective January 2025. The reinsurance agreement represents approximately 21 percent of total Closed Block long-term care future policy benefits and approximately 15 percent of Unum US individual disability future policy benefits as of December 31, 2024. Upon closing the transaction in July of 2025, we transferred to Fortitude Re $953.5 million million of cash as well as fixed maturity securities with a fair value totaling $3,230.1 million and accrued investment income of $47.1 million. After consideration of the final settlement, the final ceding commission related to this transaction was $442.3 million. Fortitude Re has an A rating by A.M. Best Company and has established a collateralized trust account for the benefit of Unum America to secure its obligations. As a result of this reinsurance agreement, we recognized the following:
▪Net realized investment loss totaling $46.8 million during the year ended 2025.
▪Reinsurance recoverable of $3,620.5 million comprised of ceded reserves of $3,315.2 million related to the Closed Block long-term care product line and $305.3 million related to the Unum US individual disability product line.
▪Cost of reinsurance of $848.2 million related to the Closed Block long-term care product line and a deferred gain on reinsurance related to the Unum US individual disability product line of $145.9 million
▪Write-off of deferred acquisition costs related to the Unum US individual disability product line of $100.3 million which is included as a component of deferred gain on reinsurance.
•Third quarter of 2025 reserve assumption updates resulting in a net reserve increase of $478.5 million before tax, or $377.8 million after tax.
•During the fourth quarter of 2025, we incurred a loss related to an accelerated charitable contribution of $20.0 million before tax, or $15.8 million after tax.
•During the fourth quarter of 2025, we incurred a settlement loss of $103.8 million before tax, or $82.0 million after tax, related to a purchase of an annuity contract which transferred a portion of our U.S. qualified defined benefit pension plan obligation to a third party.
2024 Significant Items:
•Third quarter of 2024 reserve assumption updates resulting in a net reserve decrease of $357.4 million before tax, or $282.6 million after tax.
•During the third quarter of 2024, we incurred a loss of $15.3 million before tax, or $12.1 million after tax, for the settlement of an employment-related matter.
2023 Significant Items:
•Third quarter of 2023 reserve assumption updates resulting in a net reserve increase of $177.2 million before tax, or $139.3 million after tax.
•In 2018, the Financial Accounting Standards Board issued ASU 2018-12, "Targeted Improvements to the Accounting for Long-Duration Contracts." This update significantly amended the accounting and disclosure requirements for long-duration insurance contracts. The update was effective for periods beginning January 1, 2023. We adopted this guidance effective January 1, 2023 using the modified retrospective approach with changes applied as of January 1, 2021, also referred to as the transition date.
15

Appendix to Statistical Supplement - Continued
Non-GAAP Financial Measures
We analyze our performance using non-GAAP financial measures which exclude or include amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. We believe the following non-GAAP financial measures are better performance measures and better indicators of the revenue and profitability and underlying trends in our business:
•Consolidated adjusted operating revenue, which excludes investment gains or losses and amortization of the deferred gain on reinsurance;
•After-tax adjusted operating income or loss, which excludes investment gains or losses, certain impacts from reinsurance transactions, reserve assumption updates, and certain other items, as applicable;
•Adjusted operating return on equity, which is calculated using after-tax adjusted operating income or loss and excludes from equity the unrealized gain or loss on securities, the effect of change in discount rate assumptions on the liability for future policy benefits, and net gain or loss on derivatives;
•Leverage ratio, which excludes the unrealized gain or loss on securities, the effect of change in discount rate assumptions on the liability for future policy benefits, and net gain or loss on derivatives;
•Book value per common share, which is calculated excluding accumulated other comprehensive income (loss) (AOCI);
•Premium income in constant currency, which excludes the impact of fluctuations in exchange rates between the U.S. dollar and the local currencies in which our Unum International segment is conducted. Given volatility in foreign currency exchange markets, exchange rates can fluctuate between periods. We believe translating prior period results using current period local currency exchange rates provides a more comparable view of our results; and
•Adjusted operating expense ratio, which excludes amortization of the cost of reinsurance and certain other items.
Investment gains or losses primarily include realized investment gains or losses, expected investment credit losses, impairment losses, and gains or losses on derivatives. Investment gains or losses and unrealized gains or losses on securities depend on market conditions and do not necessarily relate to decisions regarding the underlying business of our Company. Leverage ratio and book value per common share excluding certain components of AOCI, certain of which tend to fluctuate depending on market conditions and general economic trends, are important measures.
At times, we utilize reinsurance transactions to manage risk related to certain portions of our business including the exit of portions of our Closed Block businesses. As a result, we exclude the amortization of the cost of reinsurance and the amortization of the deferred gain on reinsurance that are recognized after the closing of these transactions. We also exclude the impact of non-contemporaneous reinsurance for these transactions. While the total equity impact of non-contemporaneous reinsurance is neutral, the difference in original discount rates utilized for direct and ceded reserves results in a disproportionate earnings impact. We believe that the exclusion of these items provides a better view of our results from our ongoing businesses.
Cash flow assumptions used to calculate our liability for future policy benefits are reviewed at least annually and updated, as needed, with the resulting impact reflected in net income. While the effects of these assumption updates are recorded in the reporting period in which the review is completed, these updates reflect experience emergence and changes to expectations spanning multiple periods. We believe that by excluding the impact of reserve assumption updates we are providing a more comparable and consistent view of our results.
We may at other times exclude certain other items from our discussion of financial ratios and metrics in order to enhance the understanding and comparability of our operational performance and the underlying fundamentals, but this exclusion is not an indication that similar items may not recur and does not replace net income or net loss as a measure of our overall profitability.
For a reconciliation of the most directly comparable GAAP measures to these non-GAAP financial measures, refer to the "Reconciliation of Non-GAAP Financial Measures" beginning on page 15.2, other than book value per common share, which is presented on page 2.
15.1

Reconciliation of Non-GAAP Financial Measures

|  | Three Months Ended |  | Year Ended |  |
|  | 12/31/2025 |  | 12/31/2024 |  | 12/31/2025 |  | 12/31/2024 |  | 12/31/2023 |  |
Total Revenue |  | $ | 3,244.1 |  |  | $ | 3,236.6 |  |  | $ | 13,075.5 |  |  | $ | 12,887.3 |  |  | $ | 12,385.9 |  |  |
Excluding: |  |  |  |  |  |  |  |  |  |  |  |
Net Investment Loss |  | (10.1) |  |  | (10.1) |  |  | (106.6) |  |  | (34.6) |  |  | (36.0) |  |  |
Amortization of the Deferred Gain on Reinsurance |  | 4.4 |  |  | — |  |  | 9.0 |  |  | — |  |  | — |  |  |
Adjusted Operating Revenue |  | $ | 3,249.8 |  |  | $ | 3,246.7 |  |  | $ | 13,173.1 |  |  | $ | 12,921.9 |  |  | $ | 12,421.9 |  |  |

15.2

Reconciliation of Non-GAAP Financial Measures - Continued

|  | After-Tax Adjusted Operating Income (Loss) |  | Average Allocated Equity 1 |  | Adjusted Operating Return on Equity
Year Ended December 31, 2025 |  |  |  |  |  |
Unum US |  | $ | 1,005.2 |  |  | $ | 4,441.2 |  |  | 22.6 | %
Unum International |  | 118.5 |  |  | 799.0 |  |  | 14.8 | %
Colonial Life |  | 365.8 |  |  | 2,011.0 |  |  | 18.2 | %
Core Operating Segments |  | 1,489.5 |  |  | 7,251.2 |  |  | 20.5 | %
Closed Block |  | 40.7 |  |  | 4,830.0 |  |  |
Corporate |  | (124.2) |  |  | 555.2 |  |  |
Total |  | $ | 1,406.0 |  |  | $ | 12,636.4 |  |  | 11.1 | %
Year Ended December 31, 2024 |  |  |  |  |  |
Unum US |  | $ | 1,137.6 |  |  | $ | 4,523.2 |  |  | 25.2 | %
Unum International |  | 120.9 |  |  | 776.8 |  |  | 15.6 | %
Colonial Life |  | 368.2 |  |  | 1,869.2 |  |  | 19.7 | %
Core Operating Segments |  | 1,626.7 |  |  | 7,169.2 |  |  | 22.7 | %
Closed Block |  | 98.6 |  |  | 5,324.1 |  |  |
Corporate |  | (137.1) |  |  | 53.8 |  |  |
Total |  | $ | 1,588.2 |  |  | $ | 12,547.1 |  |  | 12.7 | %
Year Ended December 31, 2023 |  |  |  |  |  |
Unum US |  | $ | 1,071.0 |  |  | $ | 4,635.7 |  |  | 23.1 | %
Unum International |  | 127.9 |  |  | 774.3 |  |  | 16.5 | %
Colonial Life |  | 315.6 |  |  | 1,744.5 |  |  | 18.1 | %
Core Operating Segments |  | 1,514.5 |  |  | 7,154.5 |  |  | 21.2 | %
Closed Block |  | 120.8 |  |  | 5,295.1 |  |  |
Corporate |  | (121.7) |  |  | (573.7) |  |  |
Total |  | $ | 1,513.6 |  |  | $ | 11,875.9 |  |  | 12.7 | %

1 Excludes unrealized loss on securities, the effect of change in discount rate assumptions on the liability for future policy benefits, and net loss on derivatives and is calculated using the stockholders' equity balances presented on page 15.5.
15.3

Reconciliation of Non-GAAP Financial Measures - Continued

|  | After-Tax Adjusted Operating Income (Loss) |  | Average Allocated Equity 1 |  | Annualized Adjusted Operating Return on Equity
Three Months Ended December 31, 2025 |  |  |  |  |  |
Unum US |  | $ | 228.9 |  |  | $ | 4,348.2 |  |  | 21.1 | %
Unum International |  | 25.1 |  |  | 813.2 |  |  | 12.3 | %
Colonial Life |  | 89.9 |  |  | 2,054.6 |  |  | 17.5 | %
Core Operating Segments |  | 343.9 |  |  | 7,216.0 |  |  | 19.1 | %
Closed Block |  | 14.0 |  |  | 4,501.3 |  |  |
Corporate |  | (35.6) |  |  | 765.7 |  |  |
Total |  | $ | 322.3 |  |  | $ | 12,483.0 |  |  | 10.3 | %
Three Months Ended December 31, 2024 |  |  |  |  |  |
Unum US |  | $ | 263.3 |  |  | $ | 4,581.8 |  |  | 23.0 | %
Unum International |  | 28.4 |  |  | 780.2 |  |  | 14.6 | %
Colonial Life |  | 96.8 |  |  | 1,914.3 |  |  | 20.2 | %
Core Operating Segments |  | 388.5 |  |  | 7,276.3 |  |  | 21.4 | %
Closed Block |  | 19.5 |  |  | 5,485.4 |  |  |
Corporate |  | (39.1) |  |  | 178.4 |  |  |
Total |  | $ | 368.9 |  |  | $ | 12,940.1 |  |  | 11.4 | %

1 Excludes unrealized loss on securities, the effect of change in discount rate assumptions on the liability for future policy benefits, and net loss on derivatives and is calculated using the stockholders' equity balances presented on page 15.5.
15.4

Reconciliation of Non-GAAP Financial Measures - Continued
Average allocated equity is computed as follows:

|  | 12/31/2025 |  | 9/30/2025 |  | 12/31/2024 |  | 9/30/2024 |  | 12/31/2023 |  | 12/31/2022
Total Stockholders' Equity |  | $ | 11,119.1 |  |  | $ | 10,908.8 |  |  | $ | 10,961.1 |  |  | $ | 10,951.4 |  |  | $ | 9,651.4 |  |  | $ | 8,735.0 |
Excluding: |  |  |  |  |  |  |  |  |  |  |  |
Net Unrealized Loss on Securities |  | (2,003.1) |  |  | (1,978.2) |  |  | (2,755.2) |  |  | (1,491.2) |  |  | (1,919.1) |  |  | (3,028.4) |
Effect of Change in Discount Rate Assumptions on the Liability for Future Policy Benefits |  | 929.9 |  |  | 656.6 |  |  | 1,185.4 |  |  | (527.0) |  |  | (648.4) |  |  | 313.9 |
Net Loss on Derivatives |  | (278.8) |  |  | (264.2) |  |  | (270.7) |  |  | (108.9) |  |  | (73.7) |  |  | (9.6) |
Total Adjusted Stockholders' Equity |  | $ | 12,471.1 |  |  | $ | 12,494.6 |  |  | $ | 12,801.6 |  |  | $ | 13,078.5 |  |  | $ | 12,292.6 |  |  | $ | 11,459.1 |
|  | Three Months Ended |  | Twelve Months Ended |  | Three Months Ended |  | Twelve Months Ended |  | Twelve Months Ended |  |
|  | 12/31/2025 |  | 12/31/2024 |  | 12/31/2023 |  |
Average Adjusted Stockholders' Equity |  | $ | 12,483.0 |  |  | $ | 12,636.4 |  |  | $ | 12,940.1 |  |  | $ | 12,547.1 |  |  | $ | 11,875.9 |  |  |

|  | Three Months Ended
|  | December 31 |  |  |  | December 31
|  | 2025 |  | 2024
|  | (in millions) |  | per share* |  |  |  |  |  | (in millions) |  | per share*
Net Income | $ | 174.1 |  |  | $ | 1.04 |  |  |  |  |  |  | $ | 348.7 |  |  | $ | 1.92 |
Excluding: |  |  |  |  |  |  |  |  |  |  |
Net Investment Loss (net of tax benefit of $2.7; $1.9) |  | (7.4) |  |  | (0.04) |  |  |  |  |  |  | (8.2) |  |  | (0.04) |
Amortization of the Cost of Reinsurance (net of tax benefit of $10.2; $2.2) | (38.6) |  |  | (0.23) |  |  |  |  |  |  | (8.1) |  |  | (0.04) |
Amortization of Deferred Gain on Reinsurance (net of tax expense of $0.9; $—) |  | 3.5 |  |  | 0.02 |  |  |  |  |  |  | — |  |  | — |
Non-Contemporaneous Reinsurance (net of tax benefit of $2.2; $1.0) | (7.9) |  |  | (0.05) |  |  |  |  |  |  | (3.9) |  |  | (0.03) |
Settlement Loss on the U.S. Pension Plan Annuity Purchase (net of tax benefit of $21.8; $—) |  | (82.0) |  |  | (0.49) |  |  |  |  |  |  | — |  |  | $ | — |
Accelerated Charitable Contribution (net of tax benefit of $4.2; $—) |  | (15.8) |  |  | (0.09) |  |  |  |  |  |  | — |  |  | $ | — |
After-tax Adjusted Operating Income | $ | 322.3 |  |  | $ | 1.92 |  |  |  |  |  |  | $ | 368.9 |  |  | $ | 2.03 |
*Assuming dilution. |  |  |  |  |  |  |  |  |  |  |  |

15.5

Reconciliation of Non-GAAP Financial Measures - Continued

|  | Year Ended December 31
|  | 2025 |  | 2024 |  | 2023
|  | (in millions) |  | per share * |  | (in millions) |  | per share * |  | (in millions) |  | per share *
Net Income |  | $ | 738.5 |  |  | $ | 4.27 |  |  | $ | 1,779.1 |  |  | $ | 9.46 |  |  | $ | 1,283.8 |  |  | $ | 6.50 |
Excluding: |  |  |  |  |  |  |  |  |  |  |  |
Net Investment Loss |  |  |  |  |  |  |  |  |  |  |  |
Net Investment Loss Related to the Fortitude Re Reinsurance Transaction (net of tax benefit of $9.9; $—; $—) |  | (36.9) |  |  | (0.21) |  |  | — |  |  | — |  |  | — |  |  | — |
Net Investment Loss, Other (net of tax benefit of $13.2; $7.6; $7.8) |  | (46.6) |  |  | (0.28) |  |  | (27.0) |  |  | (0.14) |  |  | (28.2) |  |  | (0.14) |
Total Net Investment Loss |  | (83.5) |  |  | (0.49) |  |  | (27.0) |  |  | (0.14) |  |  | (28.2) |  |  | (0.14) |
Amortization of the Cost of Reinsurance (net of tax benefit of $24.5; $8.7; $9.3) |  | (92.2) |  |  | (0.53) |  |  | (32.7) |  |  | (0.17) |  |  | (34.8) |  |  | (0.18) |
Amortization of the Deferred Gain on Reinsurance (net of tax expense of $1.9; $—; $—) |  | 7.1 |  |  | 0.04 |  |  | — |  |  | — |  |  | — |  |  | — |
Non-Contemporaneous Reinsurance (net of tax benefit of $6.3; $5.2; $7.3) |  | (23.3) |  |  | (0.14) |  |  | (19.9) |  |  | (0.11) |  |  | (27.5) |  |  | (0.14) |
Reserve Assumption Updates (net of tax expense (benefit) of $(100.7); $74.8; $(37.9)) |  | (377.8) |  |  | (2.18) |  |  | 282.6 |  |  | 1.50 |  |  | (139.3) |  |  | (0.70) |
Settlement Loss on the U.S. Pension Plan Annuity Purchase (net of tax benefit of $21.8; $—; $—) |  | (82.0) |  |  | (0.47) |  |  | — |  |  | — |  |  | — |  |  | — |
Accelerated Charitable Contribution (net tax benefit of $4.2; $—; $—) |  | (15.8) |  |  | (0.09) |  |  | — |  |  | — |  |  | — |  |  | — |
Loss on Legal Settlement (net of tax benefit of $—; $(3.2); $—) |  | — |  |  | — |  |  | (12.1) |  |  | (0.06) |  |  | — |  |  | — |
After-tax Adjusted Operating Income |  | $ | 1,406.0 |  |  | $ | 8.13 |  |  | $ | 1,588.2 |  |  | $ | 8.44 |  |  | $ | 1,513.6 |  |  | $ | 7.66 |
*Assuming dilution. |  |  |  |  |  |  |  |  |  |  |  |

15.6

Reconciliation of Non-GAAP Financial Measures - Continued

|  | December 31
|  | 2025 |  | 2024 |  | 2023
Debt |  | $ | 3,767.6 |  |  | $ | 3,739.8 |  |  | $ | 3,430.4 |
Including: |  |  |  |  |  |
Lease Liability |  | 78.9 |  |  | 69.4 |  |  | 62.6 |
Debt and Lease Liability |  | $ | 3,846.5 |  |  | $ | 3,809.2 |  |  | $ | 3,493.0 |
Total Stockholders' Equity |  | $ | 11,119.1 |  |  | $ | 10,961.1 |  |  | $ | 9,651.4 |
Excluding: |  |  |  |  |  |
Net Unrealized Loss on Securities |  | (2,003.1) |  |  | (2,755.2) |  |  | (1,919.1) |
Effect of Change in Discount Rate Assumptions on the Liability for Future Policy Benefits |  | 929.9 |  |  | 1,185.4 |  |  | (648.4) |
Net Loss on Derivatives |  | (278.8) |  |  | (270.7) |  |  | (73.7) |
Equity, As Adjusted |  | 12,471.1 |  |  | 12,801.6 |  |  | 12,292.6 |
Debt and Lease Liability |  | 3,846.5 |  |  | 3,809.2 |  |  | 3,493.0 |
Total Adjusted Capital |  | $ | 16,317.6 |  |  | $ | 16,610.8 |  |  | $ | 15,785.6 |
Leverage Ratio |  | 23.6 | % |  | 22.9 | % |  | 22.1 | %

| Three Months Ended |  |  |
| December 31, 2025 |  | December 31, 2024 |  |  |
|  | Premium Income |  | Premium Income in Local Currency 1 |  | Weighted Average Exchange Rate 2 |  | Premium Income in Constant Currency |  |  |
Unum International |  |  |  |  |  |  |  |  |  |  |
Unum UK |  | $ | 230.1 |  |  | £ | 156.9 |  |  | 1.330 |  |  | $ | 208.7 |  |  |  |
Unum Poland |  | 53.8 |  |  | zł | 166.9 |  |  | 0.275 |  |  | 45.9 |  |  |  |
Total |  | 283.9 |  |  |  |  |  |  | 254.6 |  |  |  |
Unum US |  | 1,748.6 |  |  | $ | 1,721.4 |  |  |  |  | 1,721.4 |  |  |  |
Colonial Life |  | 463.2 |  |  | $ | 448.9 |  |  |  |  | 448.9 |  |  |  |
Core Operations |  | $ | 2,495.7 |  |  |  |  |  |  | $ | 2,424.9 |  |  |  |

1 Premium income shown in millions of pounds for Unum UK, millions of zlotys for Unum Poland, and millions of U.S. dollars for Unum US and Colonial Life.
2 Exchange rate is calculated using the average foreign currency exchange rates for the most recent period, applied to the comparable prior period.
15.7

| Year Ended
| December 31, 2025 |  | December 31, 2024
|  | Premium Income |  | Premium Income in Local Currency 1 |  | Weighted Average Exchange Rate 2 |  | Premium Income in Constant Currency
Unum International |  |  |  |  |  |  |  |
Unum UK |  | $ | 887.4 |  |  | £ | 621.6 |  |  | 1.320 |  |  | $ | 820.5 |
Unum Poland |  | 195.4 |  |  | zł | 615.3 |  |  | 0.267 |  |  | 164.3 |
Total |  | 1,082.8 |  |  |  |  |  |  | 984.8 |
Unum US |  | 7,083.5 |  |  | $ | 6,883.2 |  |  |  |  | 6,883.2 |
Colonial Life |  | 1,839.1 |  |  | $ | 1,783.9 |  |  |  |  | 1,783.9 |
Core Operations |  | $ | 10,005.4 |  |  |  |  |  |  | $ | 9,651.9 |

1 Premium income shown in millions of pounds for Unum UK, millions of zlotys for Unum Poland, and millions of U.S. dollars for Unum US and Colonial Life.
2 Exchange rate is calculated using the average foreign currency exchange rates for the most recent period, applied to the comparable prior period.
15.8

We have completed reinsurance transactions to exit significant portions of our Closed Block businesses and, effective February 2026, we are no longer accepting new enrollments on existing group long-term care policies. As a result of these actions and the continued run-off of the Closed Block business, Closed Block segment earnings are less relevant to our financial results and as such, beginning in 2026, we plan to adjust our calculation of after-tax adjusted operating income to exclude the results of the Closed Block segment. As part of this update, we determined that it is no longer necessary to adjust after-tax adjusted operating income to exclude the amortization of the cost of reinsurance, the amortization of the deferred gain on reinsurance, and the impact of non-contemporaneous reinsurance, because the majority of these items are included in Closed Block segment results. The chart below presents the non-GAAP reconciliation for this redefined after-tax adjusted operating income for 2025.

|  | Redefined After-tax Adjusted Operating Income
|  | Year Ended December 31
|  | 2025
|  | (in millions) |  | per share *
Net Income |  | $ | 738.5 |  |  | $ | 4.27 |
Excluding: |  |  |  |
Net Investment Loss |  |  |  |
Net Investment Loss Related to Fortitude Re Reinsurance Transaction (net of tax benefit of $9.9) |  | (36.9) |  |  | (0.21) |
Net Investment Loss, Other (net of tax benefit of $13.2) |  | (46.6) |  |  | (0.28) |
Total Net Investment Loss |  | (83.5) |  |  | (0.49) |
Redefined Closed Block Segment after-tax adjusted operating loss (net of tax benefit of $7.8) |  | (74.0) |  |  | (0.43) |
Reserve Assumption Updates (net of tax benefit of $100.7) |  | (377.8) |  |  | (2.18) |
Settlement Loss on U.S. Pension Plan Annuity Purchase (net of tax benefit of $21.8) |  | (82.0) |  |  | (0.47) |
Accelerated Charitable Contribution (net of tax benefit of $4.2) |  | (15.8) |  |  | (0.09) |
Redefined After-tax Adjusted Operating Income |  | $ | 1,371.6 |  |  | $ | 7.93 |
*Assuming dilution. |  |  |  |

15.9